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FY2026 First Quarter Consolidated Financial Results August 6 , 2026 Rakuten Bank , Ltd. https://www.rakuten-bank.co.jp/corp/english/investors/ Rakuten Bank 25 * For detailed numerical data , please refer to the data book : https://www.rakuten-bank.co.jp/corp/investors/documents/doc/databook-20260806.xlsx * The figures in the document are truncated below the display unit . YEARS
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2 0 2E+12 4E+12 6E+12 8E+12 1E+13 1.2E+13 1.4E+13 0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000 Jul. 2001 Mar. 2002 Mar. 2003 Mar. 2004 Mar. 2005 Mar. 2006 Mar. 2007 Mar. 2008 Mar. 2009 Mar. 2010 Mar. 2011 Mar. 2012 Mar. 2013 Mar. 2014 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Mar. 2026 Total deposit Accounts Rakuten Bank’s 25th Anniversary Since commencing operations in 2001, Rakuten Bank has continued to make our customers' lives more convenient by developing a wide range of innovative financial services in Japan. As we pursue our goal of becoming the safe, secure, and most convenient bank, we also aspire to become the world's best digital bank. *１：Based on Rakuten Bank research Our 25-Year Journey First online*1 Began offering online sales of toto, the sports promotion lottery (Aug. 2005) First in Japan*1 Launched pilot online sales of the Numbers lottery (Jan. 2014) First bank in Japan*1 Introduced fingerprint authentication for app login (Jun. 2015) First digital bank in Japan*1 Began offering reverse mortgages (Dec. 2020) First digital bank in Japan*1 Surpassed 10 million accounts (Jan. 2021) First bank in Japan*1 Launched an iPhone app enabling fund transfers (Sep. 2010) First digital bank in Japan*1 Exceeded JPY13 tn in total deposit balance (Dec. 2025) …
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3 Launch of Premier Currency 3 Rakuten Bank Edition, a Fully Digital Single-Premium Individual Annuity Insurance Product*1 Launched on June 15, 2026: Offering advanced, fully digital services for single-premium specified insurance contracts*2. Jointly planned and developed by leveraging Rakuten Bank’s expertise in digital solutions and Dai-ichi Frontier Life’s know-how in insurance product design. No branch visit is required, allowing customers to complete the application process online at their convenience. Lower solicitation and administrative costs achieved through the fully digital process are reflected in the product design, with the resulting cost savings passed on to customers. *1: Rakuten Bank press release, “Launch of Premier Currency 3 Rakuten Bank Edition, a fully digital single-premium individual annuity insurance product available through Rakuten Bank” (2026). Available in Japanese only. *2: Specified insurance contracts refer to life insurance products with market risks (e.g., foreign currency-denominated insurance, variable insurance, and insurance with market value adjustment (MVA) features).
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4 Contents 2 Reorganization of FinTech Business Supplemental Material 1 Overview of Results for First Quarter of FY2026 and Revision of Full-Year Performance Forecast 3 Appendix
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5 1 Overview of Results for First Quarter of FY2026 and Revision of Full-Year Performance Forecast
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6 # of Bank Accounts (Jun. 2026, non-consolidated) 18.4mm Ordinary Income (Q1 FY2026, consolidated) +8.1% YoY Total Deposit Balance (Jun. 2026, non-consolidated) JPY13.3tn +13.9% YoY Ordinary Profit (Q1 FY2026, consolidated) 31.5% ROE*2 (Q1 FY2026,annualized basis, consolidated) Capital Adequacy Ratio*1 (Jun. 2026, consolidated) 11.3%JPY 78.4bn +36.3% YoY JPY 30.2bn 22.0% -0.8pts YoY +0.7pts YoY +0.3pts YoY G&A Expense Ratio*4 (Q1 FY2026, non-consolidated) # of Main*3 Accounts (Jun. 2026, non-consolidated) 6.0mm +7.7% YoY Main account*3 ratio: 32.8% *1: Capital adequacy ratio (domestic standard) is calculated based on standards stipulated by Article 14-2 of the Banking Act for the purpose of determining whether banks have sufficient equity capital given their holdings of assets and other instruments (Notification No. 19, the Financial Services Agency of Japan, 2006). Basel III finalization was implemented from the end of March 2025. *2: ROE is calculated by dividing net income (profit attributable to owners of the parent) by the average shareholders’ equity at the beginning and end of the period. *3: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus. *4: G&A expenses divided by gross operating profit. Q1 FY2026 Financial Results Steady growth in deposit balances, primarily driven by ordinary deposits tailored to individual financial needs, coupled with an even faster growth in assets under management, has enabled us to achieve record-high Q1 profits, even while aggressively investing in customer base expansion for future growth. +26.1%YoY Excluding costs for Rakuten FinTech Group Reorganization PJ +33.1％ YoY
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7 13.3 +13.9 % YoY+8.1% YoY The number of accounts grew by 1.38 million YoY , maintaining a growth pace of over 1 million, as we leveraged the Rakuten Group’s customer base and executed effective marketing strategies. Deposit balances maintained double-digit year-on-year growth, increasing by 1.63 trillion yen, as our preferential interest rate campaigns for time deposits successfully met the savings needs of our individual customers. Total Deposit Balance (Jun. 2026, non-consolidated) JPY13.3tn Number of Bank Accounts (Jun. 2026, non-consolidated) 18.46mm Japan’s No. 1 digital bank (Mar. 2026)*1 Japan’s No. 1 digital bank (Mar. 2026)*1 (mm) (JPY tn) 18.46 *1: The number of bank accounts and total deposit balance are as of Mar. 31, 2026. Numbers are based on information disclosed by DOCOMO SMTB Net Bank, Inc. (Formerly SBI Sumishin Net Bank, Ltd.), PayPay Bank Corporation, au Jibun Bank Corporation, Daiwa Next Bank, Ltd., Minna Bank Co., Ltd., and UI Bank Co., Ltd. Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19 Mar. 20 Mar. 21 Mar. 22 Mar. 23 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19Mar. 20 Mar. 21 Mar. 22Mar. 23Mar. 24 Mar.24 Scale of Operations Jun. 26 Jun. 26Mar. 25 Mar. 25
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8 3.6 4.2 4.8 5.5 5.9 5.6 6.0 8.6 9.4 10.4 11.3 12.1 11.4 12.3 12.3 13.7 15.2 16.8 18.0 17.0 18.4 Mar.2022 Mar.2023 Mar.2024 Mar.2025 Mar.2026 Jun.2025 Jun.2026 3.6 4.2 4.8 5.5 5.9 5.6 6.0 Non-main accounts Main accounts Non-main accounts Main accounts*1 Average Revenue per Account Our Main Accounts’*1 Growth Momentum Increase in the percentage of new accounts opened for savings and asset management purposes. To accelerate the transition to a “main bank,” we are strengthening promotions for direct debits and payroll/bonus deposits to convert savings and asset management accounts into main accounts. Increase in deposits, which serve as a source of interest income c.5x Growth in non- interest income +8.1.% +7.7% YoY +8.3% Total accounts Main accounts ratio: 31.1 % 31.5 % 32.7%29.3 % 33.0 % 32.8 %32.8 % Number of Total Accounts and Main Accounts*1 *1: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus. Average Deposit Balance per Account c.6x *1 (mm accounts)
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9 16.8 20.9 FY2025 Q1 FY2026 Q1 23.9 30.2 FY2025 Q1 FY2026 Q1 Summary of Consolidated Financial Results Ordinary Income (JPY bn, consolidated) Ordinary Profit*1 (JPY bn, consolidated) Net Income*1*2 (JPY bn, consolidated) (JPY bn, consolidated) Driven by the increase in interest income, ordinary income, ordinary profit, and net income all grew substantially. Ordinary income, ordinary profit, and net income all reached record highs for Q1. 57.5 78.4 FY2025 Q1 FY2026 Q1 +36.3% +26.1% +24.5% *1 : Including costs for Rakuten FinTech Group Reorganization PJ (Q1 FY2025 actual: –, Q1 FY2026 actual: 1,668mm, FY2025 actual: JPY 184mm, FY2026 forecast: JPY 2,908mm ) *2: Profit attributable to owners of parent FY2025 （Results) FY2026 (Forecasts) FY2026 Q1 Results Forecasts YoY Q1 Results YoY Progress rate (Q1) Ordinary Income 255.5 314.6 78.4 +23.1% +36.3% 24.9% Ordinary Profit*1 103.0 115.6 30.2 +12.1% +26.1％ 26.1% Excluding costs for Rakuten FinTech Group Reorganization PJ *1 103.2 118.5 31.8 +14.7％ +33.1% 26.8% Net Income*1*2 73.0 81.3 20.9 +11.2% +24.5％ 25.7% Excluding costs for Rakuten FinTech Group Reorganization PJ *1 73.2 83.3 22.1 +13.8％ +31.3% 26.5% Forecasts for the FY2026 and Q1 Results
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10 23.9 11.4 0.6 (3.7) (2.1) 30.2 FY2025 Q1 Adjusted net interest income Adjusted net non-interest income General and Administrative Expenses Other Ordinary Income/Expenses FY2026 Q1 +6.2 Consolidated Statements of Income Ordinary profit rose significantly, driven by higher interest income resulting from the accumulation of well- diversified investment assets and the Bank of Japan’s policy rate hike. *1: Calculated as the sum of adjusted fees and commissions income, other operating income, and trust fees *2: Loan guarantee expenses, which are included in fees and commissions expense for accounting purposes, are adjusted to interest expenses because they are related to interest income. *3: Calculated as the sum of adjusted net fee and commission income and net other operating income Change in Ordinary Profit （JPY bn, consolidated） Of which, impact of BOJ raising the interest rate + 3.9 Of which, ・Personal Expenses -0.4 ・Non-personal Expenses -2.9 (JPY bn, consolidated) FY2025 Q1 FY2026 Q1 Change YoY Ordinary income 57.5 78.4 +20.9 +36.3% Interest income 43.6 63.0 +19.4 +44.6% Non-interest income*1 13.7 15.1 +1.4 +10.6% Fees and commissions income 11.9 13.5 +1.5 +12.9% Other operating income 1.3 1.1 -0.1 -12.5% Trust fees 0.4 0.5 +0.0 +14.6% Other ordinary income 0.1 0.1 -0.0 -8.5% Gross operating profit*2 37.8 49.9 +12.1 +32.0% Adjusted net interest income*2 29.5 41.0 +11.4 +38.7% Adjusted net non-interest income*3 8.2 8.9 +0.6 +7.9% Adjusted net fees and commissions income*2 6.5 7.6 +1.1 +17.1% Net other operating income 1.7 1.2 -0.4 -26.7% General and administrative expenses 13.0 16.7 +3.7 +28.5% Other ordinary profit -0.8 -3.0 -2.1 ー Ordinary profit 23.9 30.2 +6.2 +26.1% Profit attributable to owners of parent 16.8 20.9 +4.1 +24.5% Loan guarantee expenses 2.9 2.7 -0.2 -9.0%
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11 FY2025 (Results) FY2026 （Initial forecast） FY2026 （Latest forecast） YoY YoY Change (% Change) Ordinary Income 255.5 314.6 +23.1% ⇒ 343.4 +34.3% +28.7 (+9.1%) Ordinary Income 103.0 115.6 +12.1% ⇒ 125.7 +22.0% +10.1 (+8.7%) Excluding costs for Rakuten FinTech Group Reorganization PJ *1 103.2 118.5 +14.7% 128.6 +24.6% +10.1 (+8.5%) Net Income*2 73.0 81.3 +11.2% ⇒ 88.1 +20.6% +6.8 (+8.3%) Excluding costs for Rakuten FinTech Group Reorganization PJ *1 73.2 83.3 +13.8% 90.1 +23.1% +6.7 (+8.1%) (JPY bn, consolidated) Full-year forecast revised upward based on Q1 results and the June 2026 policy rate hike. *Policy rate assumption: 1.00% (Excludes further rate hikes.) *Excludes earnings forecasts for Rakuten Card and Rakuten Securities Holdings resulting from the FinTech reorganization. *1: Costs for Rakuten FinTech Group Reorganization PJ (FY2025 actual: JPY 184mm, FY2026 forecast: JPY 2,908mm ) *2: Profit attributable to owners of parent Consolidated Forecast for FY2026 (Rakuten Bank Standalone)
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12 (JPY bn, non-consolidated) Mar.31, 2025 Mar.31, 2026 Jun.30,2025 Jun.30,2026 YoY vs25/6（12M） QoQ vs26/3（3M） (Amount) (Rate) (Amount) (Rate) Loans 4,954.6 5,819.7 4,767.0 5,962.3 +1,195.3 +25.0% +142.6 +2.4% Personal loans 318.6 327.6 320.1 327.7 +7.5 +2.3% +0.0 +0.0% Housing loans 786.3 732.6 775.7 718.8 -56.9 -7.3% -13.8 -1.8% Affiliated loans 225.7 251.0 229.6 274.1 +44.5 +19.3% +23.1 +9.2% Investment property loans 783.0 948.5 827.0 1,018.7 +191.7 +23.1% +70.2 +7.4% ABL (Asset-Based Lending) 1,178.3 1,329.9 1,171.2 1,307.6 +136.4 +11.6% -22.3 -1.6% Business loans 45.4 113.0 47.1 122.8 +75.7 +160.7% +9.7 +8.5% Others 41.3 166.6 42.7 183.1 +140.4 +328.7% +16.4 +9.8% Loans to Ministry of Finance 1,575.5 1,950.0 1,353.4 2,009.3 +655.8 +48.4% +59.2 +3.0% Monetary claims bought 2,828.6 3,198.6 2,856.5 3,243.2 +386.6 +13.5% +44.6 +1.3% Trust beneficiary rights of Rakuten Card 2,260.6 2,338.0 2,279.6 2,382.8 +103.1 +4.5% +44.7 +1.9% Others 568.0 860.6 576.9 860.4 +283.5 +49.1% -0.1 -0.0% Total of Main Assets (Loans + Monetary claims bought) 7,783.2 9,018.3 7,623.6 9,205.6 +1,582.0 +20.7% +187.2 +2.0% Total of Core Assets (Loans excluding loans to Ministry of Finance + Monetary claims bought) 6,207.6 7,068.3 6,270.1 7,196.3 +926.2 +14.7% +128.0 +1.8% ★★, ★subtotal 2,848.0 3,466.8 2,895.3 3,514.5 +619.2 +21.3% +47.7 +1.3% Total of Securitized Assets (ABL + Monetary claims bought Others) 1,746.3 2,190.6 1,748.1 2,168.1 +419.9 +24.0% -22.5 -1.0% Loans and Monetary Claims Bought (Main Assets) Each category of the loans and the monetary claims bought increased in a well-balanced manner. ★★ ★★ ★ ★ ★★: Assets considered as “middle-risk” ★: In part, assets categorized as “middle-risk” Non-Interest Income Interest Income
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13 Personal loans Investment property loans ABL (Asset-Based Lending) Monetary claims bought: others Expanding Middle-Risk Assets ★★: Assets considered as “middle-risk” ★: In part, assets categorized as “middle-risk” Balances for each middle-risk asset category expanded steadily, with the growth rate of total middle-risk assets outpacing that of total main assets. Mar.31, 2024 Mar.31, 2025 Mar.31,2026 Jun.30,2025 Jun.30,2026 YoY (Amount) YoY (Rate) Personal loans 305.3 318.6 327.6 320.1 327.7 +7.5 +2.3% Investment property loans 654.2 783.0 948.5 827.0 1,018.7 +191.7 +23.1% ABL (Asset-Based Lending) 957.7 1,178.3 1,329.9 1,171.2 1,307.6 +136.4 +11.6% Monetary claims bought : others 398.3 568.0 860.6 576.9 860.4 +283.5 +49.1% Total of the categories above 2,315.7 2,848.0 3,466.8 2,895.3 3,514.5 +619.2 +21.3% ★★ ★★ ★ ★ Total for Categories Including Middle-Risk Assets (JPY bn, non-consolidated) Non-Interest Income Interest Income
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14 *1: Credit costs = provision of general allowance for loan losses + write -off of loans + provision of specific allowance for loa n losses + other disposal of non-performing loans - recoveries of written-off receivables *2: Total credit costs divided by the average balance of loans outstanding at the beginning and end of the period *3: Presentation of Income and Expenses (Net) Credit Costs (Non-Consolidated) Actual credit costs declined YoY, reflecting the decrease in guaranteed personal loan balances. Credit cost ratio remained stable at a low level. Credit costs*1 （JPY mm, non-consolidated） *2 YoY increase in credit costs YoY decrease in loan guarantee expenses YoY decrease in actual credit costs -126*3 +269*3 +143*3 (148) (1,297) (2,102) (3,346) (4,958) (936) (1,062) 0.00% 0.03% 0.05% 0.07% 0.09% 0.07% 0.07% FY2021 FY2022 FY2023 FY2024 FY2025 FY2025 Q1 FY2026 Q1 Credit costs Reversal of credit costs Credit cost ratio
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15 *1: Calculated using main assets (loans and monetary claims bought) as the numerator. *2: Calculated using core assets (loans and monetary claims bought, excluding loans to the Ministry of Finance) as the numerator. Balance Sheet Summary ④ Deposits JPY 13.36tn ① Loans JPY 5.96tn ③ Monetary claims bought JPY 3.24tn On the asset side, the vast majority of floating-rate assets are based on TIBOR (Jun 30, 2026, non-consolidated) Floating 80% Fixed 20% Floating 80% Fixed 20% Floating 81% Fixed 19% Loans Monetary claims bought Main assets, by type of interest rate Floating 83% (Relatively lower sensitivity to interest rate than assets) Fixed 17% The vast majority of our liabilities are funded by ordinary deposits Deposits, by type of interest rate Marketable securities JPY 2.19tn Approximately 80% of our main assets adopt floating rates, the vast majority of which are linked to TIBOR. Interest on due from the BoJ also fluctuates in line with the changes in the policy rate. Even as borrowings from the BoJ decline quarterly due to the termination of the loan support program, we will continue to promote deposit acquisition to secure the funding necessary for the expansion of our core assets. Net assets JPY 0.38tn Other assets JPY 1.08tn Other liabilities JPY 2.47tn Borrowed money 2.23tn Cash and due from banks JPY 3.74tn Adjusted Loan-to-deposit ratio*1 ＝68.8％ ＝53.8％ Core loan-to deposit ratio*2 Core Assets*2 ① ③ ④ ④ ① ③ ② ② Loans to Ministry of Finance 2.00tn * * Funding through floating interest rates refers to ordinary deposits Non-Interest Income Interest Income
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16 Other liabilities JPY2.47tn Status of Investment in Marketable Securities, etc.*1 In order to improve the yield on surplus funds while maintaining liquidity, we are gradually and selectively increasing loans to the Ministry of Finance and investments in marketable securities, taking interest rate trends into consideration. Marketable securities *1：Loans to Ministry of Finance, JGBs, government guaranteed bonds, and corporate bonds *2：Including Fiscal Investment and Loan Program (FILP) Agency Bonds Loans to Ministry of Finance • Gradually expand investment in marketable securities in light of future interest rate trends, while monitoring the emergence of unrealized losses. Deposits JPY13.36tn Net assets JPY0.38tn Loans JPY5.96tn Monetary claims bought JPY3.24tn Loans to Ministry of Finance JPY2.00tn Excluding loans to Ministry of Finance JPY3.95tn Marketable securities JPY2.19tn Cash and due from banks JPY3.74tn Other assets JPY1.08tn • We maintain our policy of flexibly increasing balances in assets that do not generate unrealized losses, with yields exceeding the interest rate on deposits at the Bank of Japan (Jun. 30, 2026, non-consolidated) Borrowed money 2.23tn JPY Jun. 30, 2025 Mar. 31, 2026 Jun. 30, 2026 JGBs 732.8bn 727.2bn 706.5bn - - - Government Guaranteed Bonds 490.9bn 540.5bn 522.2bn 48.0bn - - Corporate Bonds*2 289.7bn 448.0bn 480.6bn 47.6bn 76.3bn 38.1bn Total New Investment for the Above Categories 95.6bn 76.3bn 38.1bn JPY Jun. 30, 2025 Mar. 31, 2026 Jun. 30, 2026 Loan balance 1,353.4bn 1,950.0bn 2,009.3bn Change from the end of the previous quarter -222.1bn +224.9bn +59.2bn Ending balance New investment Ending balance New investment Ending balance New investment Non-Interest Income Interest Income
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17 Simple Simulation of Future Net Interest Income Floating rate assets (approx. 80% of total) +25bp Income +JPY27.8bn Floating rate deposits (approx. 83% of total) +12.5bp (50% pass-through rate) Cost +JPY13.8bn Illustrative Estimated Annualized Net Interest Income Impact*3 of Additional 25bp Policy Rate Hike Based on BS as of Jun. 30, 2026*2 Net Interest Income +JPY13.9bn Illustrative Balance of Borrowings (Loan Support Program)*4 Income side Cost Side *1: Following a partial revision of the “Principal Terms and Conditions for the Provision of Funds to Support Increases in Lending as Part of the Loan Support Program,” on Jan. 24, 2025, the program is scheduled to be terminated on Mar. 31, 2028. However, during Jul. 1-Dec. 31, 2025, up to 50% of maturing amounts may be rolled over. *2: An estimate of the annualized impact, calculated based on certain assumptions as detailed in (1) and (2) on the right. (1) Future projections for the Balance Sheet are fixed at the Jun. 30, 2026 level. (2) Assumes an immediate impact from the interest rate hike on both assets and liabilities, based on the fixed/floating ratio in the balance sheet summary slide. *3: Illustrates the annual impact on income and costs. *4: Illustrates the quarter-end outstanding balance of borrowings from the Bank of Japan. Repayments are scheduled to be made from deposits held at the Bank of Japan in line with the quarterly repayment pace of borrowings. While a decline in interest income on deposits at the BoJ is a concern, we aim to mitigate the impact on net interest income by promoting funding with deposits and other sources, and by improving the interest margin through accumulating core assets. No rate hike (JPYtn) 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2025 FY2026 FY2027 Based on a simple simulation, the net interest income impact, with a 25bp policy rate hike, is approximately +JPY13.9bn. While BoJ borrowings will be repaid quarterly following the program's termination*1, we aim to expand our overall asset size by actively promoting deposit- based funding
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18 Exchange/settlement 21% Direct debit 24% Debit cards 24% Other fees and commisions 23% Other operating income 8% (Income related to foreign currency deposits, special time deposits, FX, etc.) Non-Interest Income (Non-Consolidated) Core non-interest income sources, such as exchange/settlement commissions, and direct debit fees for daily-life related fee, continue to grow steadily. The YoY growth in total settlements, a key indicator of account activity, has exceeded the YoY growth in the total number of accounts, demonstrating steady progress in customer cultivation. *1: Calculated as the sum of adjusted fees and commissions income and other operating income *2: Although loan guarantee expenses are included in fees and commissions expense (within non -interest expenses) for accounting purposes, these expenses are adjusted to interest expenses because they are related to interest income. *3: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus. Fees and commissions income • Exchange/settlement commissions increased, owing to an increase in the number of total accounts and main accounts*3. • Direct debit fees have steadily increased, driven by the promotion of our accounts as main accounts, leading to a healthy rise in fees from everyday living- related transactions. • Debit card fees increased, driven by growth in transaction volume. Breakdown of Non-Interest Income*1 (Q1 FY2026, non-consolidated) Non-interest income JPY14.5bn(Financial instrument brokerage fees, housing loan commissions, etc.) FY2025 FY2026 (JPY bn, non-consolidated) Q1 Q1 Change YoY Non-interest income*1 13.2 14.5 +1.3 +10.2% Fees and commissions income 11.9 13.4 +1.5 +12.8% Exchange/settlement 2.8 3.0 +0.2 +9.3% Direct debit 3.2 3.4 +0.2 +6.3% Debit cards 3.0 3.5 +0.4 +15.4% Other fees and commissions 2.7 3.3 +0.5 +21.0% Other operating income 1.3 1.1 -0.1 -12.8% Adjusted net non-interest income*2 7.8 8.4 +0.5 +7.3% Exchange fees paid 1.1 1.2 +0.0 +8.1% Total settlements (mm) 237 262 +24 +10.5% Non-Interest Income Interest Income
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19 7.5 7.9 9.4 2.4 2.7 28.3 31.2 38.9 8.5 11.3 2.5 3.3 4.1 0.9 1.2 38.4 42.5 52.5 12.0 15.4 42.5% 35.6% 32.3% 32.3% 31.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 0 10 20 30 40 50 60 70 80 90 100 FY2023 FY2024 FY2025 FY2025 Q1 FY2026 Q1 Personnel Expenses Non-personnel Expenses Tax and Due G&A Expense Ratio YoY+23.4% YoY+28.5% YoY change in gross operating profit: 40% 40% 20% Marketing System・AI Others 38% 38% 24% Marketing System・AI Others General and Administrative Expenses (Non-Consolidated) Even though general and administrative expenses increased by 28.5% YoY, management efficiency improved due to the business scale expansion, with the G&A expense ratio reaching 31.5%, a 0.8ppt improvement from FY2025 Q1. YoY+36.0% YoY+32.1 % Breakdown of Q1 non-personal expenses Breakdown of Q1 YoY increase in non-personal expenses 11.3bn +2.8bn General and Administrative Expenses and G&A Expense Ratio* (Non-Consolidated) (JPY bn) *G&A Expense ratio: General and administrative expenses/Gross operating profit
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20 18.0% 21.7% 22.0% FY2024 FY2025 FY2026 Q1 ROE Performance We will continue to pursue an optimal balance between sustainable growth and capital efficiency, leveraging the strengths of our digital bank business model. Capital Deployment for Growth Utilizing our sufficient capital base, we are pursuing returns with increased leverage under appropriate risk control ーConsolidated Capital Adequacy Ratio *3 as of Jun. 2026: 11.3% ROE*1 *1: ROE is calculated by dividing net income (profit attributable to owners of the parent) by the average shareholders’ equity at the beginning and end of the period. *2: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus. *3: Capital adequacy ratio (domestic standard) is calculated based on standards stipulated by Article 14-2 of the Banking Act for the purpose of determining whether banks have sufficient equity capital given their holdings of assets and other instruments (Notification No. 19, the Financial Services Agency of Japan, 2006). Pursuit of Capital Efficiency Balancing appropriate investments for future sustainable growth with the superior efficiency of digital banks Pursuit of Cost Efficiency Non-Interest Income Growth • Further growth through main account*2 acquisition and cross-selling Interest Income Growth: Boosting Yield Enhancement • Produce of Rakuten Group’s proprietary assets • Aiming to expand a well-balanced and diversified investment portfolio, we will increase the allocation to middle-risk assets to improve investment yields Further Revenue Growth with Unique Rakuten Ecosystem ー The G&A expense ratio is projected to remain at a competitive level in the30% range.(annualized)
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21 263 307 376 325 398 2,409 2,901 3,503 3,042 3,502 10.9% 10.6% 10.7% 10.6% 11.3% Mar.31, 2024 Mar.31, 2025 Mar.31, 2026 Jun.30, 2025 Jun.30, 2026 Common equity-regulartory adjustments Total risk weighted assets Capital adequacy ratio (domestic standard) Sufficient Capital Adequacy with Disciplined Management Maintained a sufficient capital adequacy ratio in line with business requirements, while actively growing our asset base. Capital Adequacy Ratio*1 (JPY bn, consolidated) *1: Capital adequacy ratio (domestic standard) is calculated based on standards stipulated by Article 14 -2 of the Banking Act for the purpose of determining whether banks have sufficient equity capital given their holdings of assets and other instruments (Notification No. 19, the Financial Services Agency of Japan, 20 06). *2: Basel III finalization was implemented from the end of March 2025. After the implementation of the finalized Basel III*2
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22 2 Reorganization of FinTech Business Supplemental Material
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23 Building a Differentiated Comprehensive FinTech Company *1 As of March 2026 *2 Last 12 months as of the end of March 2026, non-consolidated *3 Last 12 months as of the end of March 2026 Over 100mm Rakuten IDs in Japan*1 # of Bank Accounts: 18.0mm*2 Deposit Balance: JPY 12.9tn*1 # of General Accounts: 13.9mm*1 Assets Under Administration: JPY 50.3tn*1 # of Cards Issued: 33.9mm*1 Card Shopping Transaction Volume: JPY 27.1tn*3 Serving as the gateway between the Rakuten Ecosystem and the New Rakuten Bank Group Ecosystem Rakuten Ecosystem - Services Supporting Everyday Life - New Rakuten Bank Group Ecosystem - Seamlessly Supporting Customers across All Financial Activities -
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24 Expected Timing of the Realization of Financial Synergies and Synergies for Individual Customers*1 ■ Financial synergies are expected to be steadily realized in the short term. ■ Through financial synergies and synergies for individual customers, we aim to realize synergies of JPY85.0bn or more on an ordinary profit basis in FY2029, while further increasing the amount of synergies through B2B synergies and synergies from the use of data and technology. Financial synergies Synergies for individual customers JPY85.0bn+ JPY33.0bn+ *1: Only synergies that can currently be quantified have been estimated based on certain assumptions. In addition to the amounts above, we aim to realize at an early stage synergies from maximizing the corporate customer base and from the use of data and technology. Note that the policy interest rate is assumed to be 0.75%. In the short term, we aim to realize financial synergies at an early stage by 1) switching external interest-bearing debt of the card and securities businesses to borrowings from Rakuten Bank, 2) transferring securities deposits, and 3) optimizing the efficiency of funds. JPY25.0bn+ JPY8.0bn+ JPY53.0bn+ JPY32.0bn+ October 2026 Synergies begin to materialize FY2026 FY2027 FY2028 FY2029
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25 Expected Timing and Scale of Synergy Initiatives from the Reorganization *1 A main account is an account used for bank transfer or direct deposit of payroll including salary or bonuses. *2 A primary account is a bank account used to meet a wide range of needs in an individual's daily life, including (a) receiving salary and bonuses, (b) bank transfer for utility bills such as electricity, water, and gas, mobile phone bills, credit card payments, loan repayments, etc., (c) bank transfers, account transfers, and international transfers for various payments, and (d) asset management. ■ Preparations have begun to realize the quantified synergies as early as FY2027, with a target of JPY85.0bn or more in combined financial synergies and synergies for individual customers in FY2029. ■ Going forward, we will accelerate consideration of initiatives aimed at generating further synergies, including those for corporate customers and through the use of data. Financial synergies 1 FY2026 FY2027 FY2028 FY2029 Switch external interest-bearing debt of the Card and Securities businesses to borrowings from Rakuten Bank Approx. JPY25.0bn/year Approx. JPY49.0bn/year Approx. JPY53.0bn/year Expansion of investment assets of the New Rakuten Bank Group, leveraging improved capital efficiency at both the Card and Securities businesses Switch a portion of customer segregated deposits to deposits with Rakuten Bank Maximization of the individual customer base 2 Promote the setting of Rakuten Bank accounts for direct debit of Rakuten Card bills and accelerate their use as main accounts*1 Accelerate acquisition of primary accounts*2 through Money Bridge Approx. JPY8.0bn/year Approx. JPY17.0bn/year Approx. JPY32.0bn/year Accelerated growth in consumer finance Approx. JPY33.0bn/year Approx. JPY66.0bn/year Approx. JPY85.0bn/yearTotal quantified synergies Mutual customer referrals through app integration A – Bringing borrowing costs in-house B – Transfer of securities deposits C – Optimization of capital efficiency A – Expansion of bank deposits through enhanced marketing collaboration B – Promotion of Cross Use C – Enhanced collaboration in personal loans Approx. JPY4.2bn/year Approx. JPY0.7bn/year Approx. JPY5.0bn/year
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26 Continued Profit Growth after the Reorganization ■ Target ordinary profit of JPY400.0bn or more in FY2029 JPY204.0bn JPY315.0bn+ JPY85.0bn+ JPY204.0bn Ordinary profit in FY2025 (simple sum) Organic CAGR 11%+ Ordinary profit*1 in FY2029 (illustrative breakdown assuming JPY85.0bn in synergy effects are realized in FY2029) Synergy effects JPY85.0bn or more annually in FY2029 from financial synergies and synergies for individual customers alone Organic growth CAGR 18%+ JPY400.0bn+ *1: Assumption: Policy interest rate of 0.75%
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Total assets: JPY16.5tn Assets Cash and due from banks Marketable Securities Loans Monetary claims bought Other Deposit Borrowed money Other liabilities Net assets Total assets: JPY4.2tn Assets Liabilities and net assets Installment receivables Other Receivables securitization Other liabilities Net assets Total assets: JPY5.3tn Assets Segregated deposits Other Deposits received Borrowed money Other liabilities Net assets 資産 Liabilities and net assets Consolidated BS (after elimination of intercompany transactions) Total assets of JPY23.3tn (= simple sum − Rakuten Card securitization − cash and deposits of the two companies) *1: Conceptual diagram. Prepared based on data for Rakuten Bank, Rakuten Card, and Rakuten Securities HD as of Mar. 2026. Standalone*2 Simple sum: before consolidation eliminations New Rakuten Bank Group Consolidated —After Consolidation Eliminations Bonds and borrowings Items subject to elimination of intercompany transactions (items in red) *A portion of Rakuten Card and Rakuten Securities cash and deposits is deposited with Rakuten Bank Synergies (items in blue) Assets Illustrative Consolidated Balance Sheet of the New Rakuten Bank Group after the Reorganization*1 Deposits* Rakuten Card bonds and borrowings Customer deposits Other liabilities Net assets (total) Rakuten Securities borrowings Rakuten Card receivables securitization A portion of Rakuten Securities’ segregated deposits Borrowed money *2: Rakuten Bank Consolidated, Rakuten Card Non -consolidated, and Rakuten Securities HD Consolidated Margin transaction loans Cash and due from banks Marketable securities Loans Monetary claims bought (securitization of Rakuten Card credit card receivables) Installment receivables Segregated deposits Other assets Monetary claims bought (others) Card cash and deposits* Rakuten Securities cash and deposits* Margin transaction loans Other assets Segregated deposits JPY2.9tn Bank loans JPY5.9tn Installment receivables JPY3.3tn Marketable securities JPY2.3tn Cash and due from banks JPY4.7tn Monetary claims bought (others) JPY0.8tn Loans at Rakuten Securities JPY1.3tn Loans at Rakuten Card JPY0.08tn Net assets Other liabilities Deposits JPY12.8tn Deposits received JPY2.3tn Borrowed money JPY3.4tn (of which, bank borrowed money JPY2.8tn) Borrowings secured by securities: ¥1.2 trillion Liabilities and net assets Liabilities and net assets Borrowings secured by securities Borrowings secured by securities
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28 Summary of the New Rakuten Bank Group’s Consolidated Balance Sheet Following the Reorganization*1 *1: Conceptual diagram of Rakuten Bank, Rakuten Card, and Rakuten Securities HD on a consolidated basis as of the end of Mar.2026. Planned to be implemented in accordance with applicable laws and regulations. 77% 23% 38% 62% 84%* 16% Floating RateFixed rate Invested in relatively short-term time deposits, making them more likely to benefit from rising interest rates * Margin transaction loans (not linked to the policy rate) * Subrogation claims (fixed-rate basis) Non-interest-bearing The vast majority of floating-rate loans are based on TIBOR The vast majority of our liabilities are funded by ordinary deposits • Funding through floating interest rates refers to ordinary deposits 22% 5% 12%61% Revolving Cashing Installment Other Other assets Segregated deposits JPY2.9tn Net assets Other liabilities Deposits JPY12.8tn Deposits received JPY2.3tn Bank loans JPY5.9tn Installment receivables JPY3.3tn Marketable securities JPY2.3tn Cash and due from banks JPY4.7tn Monetary claims bought (others) JPY0.8tn Borrowed money JPY3.4tn (of which, bank borrowed money JPY2.8tn) Loans at Rakuten Securities JPY1.3tn Loans at Rakuten Card JPY0.08tn Breakdown of Installment receivables 39% 61% Borrowings secured by securities: ¥1.2 trillion
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29 Interest Rate Sensitivity of the New Rakuten Bank Group Following the Reorganization ■ The impact of interest rate sensitivity on Rakuten Bank’s profits is projected to slightly decrease following the reorganization compared to a stand-alone basis. Meanwhile, the impact of increased financial costs for Rakuten Card and Rakuten Securities due to rising interest rates will be mitigated through financial synergies, achieved by shifting to intra-group financing. ■ Post-reorganization, we will maintain a structure that allows asset-side yields to rise in tandem with interest rate increases. Annual profit impact of a 25bps rate hike based on the B/S as of Mar. 31, 2026 (prior to the reorganization taking effect) ↑Income increase ↓Cost increase JPY28.0bn JPY13.6bn JPY17.9bn JPY29.5bn JPY14.4bn JPY11.6bn Synergies realized: JPY13.1bn Increase due to borrowings from financial institutions by Rakuten Card and Rakuten Securities Increase due to segregated deposits at Rakuten Securities New Rakuten Bank Group following the reorganization Funding cost savings via financial synergies: (JPY1.5bn)
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30 Approach to Management Efficiency of the New Rakuten Bank Group Following the Reorganization ■ Given difference in earnings structures, management efficiency metrics tailored to each company's business model will be discloseds ■ Following the reorganization, pursue high management efficiency in each industry and achieve high management efficiency as the new Rakuten Bank Group Rakuten Bank (Non-consolidated) *1: Excluding Rakuten Payment and Rakuten Edy, all of which are outside the scope of the Reorganization Rakuten Card*1 (Non-consolidated) Rakuten Securities (Consolidated) 25.8% 24.1% 28.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 0 20 40 60 80 100 120 FY23 FY24 FY25 SG&A expenses OPM 42.5% 35.6% 32.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 0 10 20 30 40 50 60 FY23 FY24 FY25 G&A Expenses G&A Expenses Ratio 13.9% 12.8% 12.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 0 50 100 150 200 250 300 350 FY23 FY24 FY25 SG&A expenses OPM Fiscal Year = Apr.–Mar. Fiscal Year = Jan.–Dec. Fiscal Year = Jan.–Dec. Commission-free Domestic equity trading since Oct. 2023 (JPY bn) (JPY bn) (JPY bn) G&A Expenses Ratio Operating Profit Margin Operating Profit Margin
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31 Post-Reorg. Over 8% Medium- to Long-Term Shareholder Return Policy of the New Rakuten Bank Group Following the Reorganization Prioritizing growth over dividends to pursue further business expansion and achieve higher returns – Leveraging the diversification and stabilization of interest and non- interest income resulting from the reorganization, we will reinvest future earnings to drive growth. This approach enables us to achieve both EPS growth and a high level of ROE while maintaining a sound capital adequacy ratio. ■ Dividend policy: Maintain a policy of no dividends ■ Continue to capture growth opportunities as a comprehensive FinTech company and aim for shareholder return through increased corporate value in line with the expansion of the business. Reviewing capital policy, including dividend payments, with a focus on capital efficiency – Committed to pursuing capital efficiency and maintaining sound capital levels to enhance shareholder returns. Jun. 30, 2026 Rakuten Bank Standalone Retaining Net Income * This refers to accumulating risk assets, which constitute the denominator in the calculation formula for the capital adequacy ratio (total capital divided by risk assets). Factors that raise the capital adequacy ratio Factors that lower the capital adequacy ratio While accumulating risk assets for further growth, we will control the capital adequacy ratio at an appropriate level. Our Thoughts on Capital and View on the Capital Adequacy Ratio (%) Capital deployment for growth* Capital adequacy ratio 11.3%
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32 By September 30, 2026: Preparatory actions for the reorganization To be implemented on October 1, 2026 (effective date)*3 Expected Schedule for the Reorganization *1 Transfers of businesses not shown in the diagram above are omitted *2 Includes Rakuten Edy, a subsidiary of Rakuten Payment *3 The reorganization is conditional upon obtaining approvals and permits from supervisory authorities and other government a gencies in Japan and overseas May 20, 2026 – Board of Directors resolutions of Rakuten Group and Rakuten Bank regarding the reorganization and execution of the Integration Agreement June 24, 2026 – Special resolution approving the Share Delivery Plan at Rakuten Bank’s Annual General Meeting of Shareholders – Transfer of businesses outside the scope of the reorganization*1 – Rakuten Card Transfer to Rakuten Group of the equity interest*2 in Rakuten Payment (95.28% of total shares issued) Transfer of the real estate-related business of Rakuten Card Partners to Rakuten Group or one of its subsidiaries, and transfer by Rakuten Card of shares in Kajiyama Warehouse to Rakuten Group or one of its subsidiaries – Rakuten Securities HD: In-kind dividend of Rakuten Wallet, Inc. shares to Rakuten Group – Rakuten Bank: Transfer to Rakuten Life Insurance of its equity interest in Rakuten International Commercial Bank (1% of total shares issued) – Rakuten Securities HD: Issuance of new shares to Rakuten Group through a third-party allotment (approx. JPY3.0bn) – Aim to strengthen the financial foundations of Rakuten Securities HD and the consolidated Rakuten Bank Group following the reorganization – Becoming wholly owned subsidiaries of Rakuten Bank – Make Rakuten Card and Rakuten Securities HD wholly owned subsidiaries through a share delivery – Rakuten Group and Mizuho Bank will receive Class A shares of Rakuten Bank (with economic rights and acquisition request rights equivalent to those of common shares, but no voting rights) as consideration for the share delivery – Rakuten Group: Immediately after the share delivery takes effect, convert a portion of the Class A shares received into commo n shares – Mizuho Bank: Immediately after the share delivery takes effect, convert all Class A shares of Rakuten Bank received as considera tion for its Rakuten Card shares into common shares – As a result of the share delivery, Mizuho Bank’s 14.9998% equity interest in Rakuten Card will be eliminated. Mizuho Securities, Meanwhile, Plans to Continue Holding Its 49.00% Stake in Rakuten Securities, Inc.
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33 ３ Appendix
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34 Number of Accounts (Non-Consolidated) Deposit Balance (Non-Consolidated) Number of Accounts, Deposit Balance (Non-Consolidated) (Millions of accounts) (JPY bn) Note: Closed accounts are excluded. 15.23 16.83 18.07 17.07 18.46 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 20.00 Mar.2024 Mar.2025 Mar.2026 Jun.2025 Jun.2026 9,637 10,310 10,804 10,532 11,022 676 915 1,896 931 2,074 138 156 167 160 167 88 93 97 103 101 10,540 11,476 12,964 11,728 13,365 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Mar.2024 Mar.2025 Mar.2026 Jun.2025 Jun.2026 Foreign Currency Deposits, etc. Structured Deposits Time Deposits Ordinary Deposits
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35 (JPY bn, consolidated) FY2025 FY2026 YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ordinary income 57.5 60.8 64.9 72.3 78.4 +36.3% Interest income 43.6 46.5 50.1 57.2 63.0 +44.6% Non-interest income 13.7 14.0 14.5 14.7 15.1 +10.6% Fees and commissions income 11.9 11.9 12.5 12.9 13.5 +12.9% Other operating income 1.3 1.6 1.4 1.2 1.1 -12.5% Trust fees 0.4 0.4 0.4 0.4 0.5 +14.6% Other income 0.1 0.2 0.1 0.3 0.1 -8.5% Ordinary expenses 33.5 36.5 38.0 44.3 48.2 +43.6% Interest expenses 11.0 13.0 13.4 17.6 19.3 +74.8% Non-interest expenses 8.3 8.3 8.4 8.5 8.9 +6.2% Fees and commissions expense 8.3 8.3 8.4 8.5 8.5 +1.9% Other operating expense ― 0.0 0.0 0.0 0.3 ― General and administrative expenses 13.0 13.7 14.4 15.6 16.7 +28.5% Other expenses 1.0 1.3 1.7 2.4 3.2 +196.2% Net Operating Profit*1 24.6 25.1 27.6 29.6 33.0 +33.8% Ordinary profit 23.9 24.3 26.8 27.9 30.2 +26.1% % Margin 41.6% 40.0% 41.3% 38.6% 38.5% -3.1pts Extraordinary profit / (loss) ― ― -0.0 -0.0 -0.0 ― Profit before income taxes 23.9 24.3 26.8 27.9 30.2 +26.1% Profit attributable to owners of the parent 16.8 17.1 19.1 19.9 20.9 +24.5% % Margin 29.2% 28.2% 29.4% 27.5% 26.7% -2.5pts Quarterly Consolidated Financial Summary *1：Net Operating Profit = Gross Operating Profit－General and Administrative Expenses－Provision of General Allowance for Loan Losses
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36 Financial Summary – Consolidated Balance Sheets (JPY bn, consolidated) Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2026 Jun.30, 2025 Jun.30, 2026 Total assets 13,480.4 14,748.6 16,592.1 15,253.8 16,486.3 (incl.) Cash and due from banks 4,791.0 4,241.8 4,139.5 4,731.8 3,759.5 (incl.) Monetary claims bought 2,550.8 2,919.4 3,198.6 2,973.3 3,243.2 (incl.) Marketable securities 1,090.5 1,791.4 2,324.8 1,895.7 2,242.6 (incl.) Loans 4,069.5 5,044.1 5,943.0 4,869.3 6,117.1 Total liabilities and equity 13,480.4 14,748.6 16,592.1 15,253.8 16,486.3 Total liabilities 13,200.8 14,429.5 16,202.6 14,912.3 16,068.0 (incl.) Deposits 10,442.3 11,451.5 13,046.8 11,747.7 13,541.5 (incl.) Borrowed money 2,565.8 2,749.8 2,812.5 2,898.8 2,234.5 Total equity 279.5 319.1 389.5 341.4 418.2 (incl.) Total shareholder equity 264.3 315.0 388.2 331.9 409.2 (incl.) Non-controlling interests 18.8 16.8 17.4 18.0 24.6 Capital adequacy ratio (a)/(b) (Japanese domestic standard) 10.9% 10.6% 10.7% 10.6% 11.3% Total capital (a) 263.6 307.8 376.2 325.0 398.6 Total amounts of risk-weighted assets, etc. (b) 2,409.9 2,901.4 3,503.3 3,042.6 3,502.0
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37 (JPY bn, consolidated) FY2025 FY2026 YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ordinary income 55.8 58.5 63.3 70.6 76.4 +36.9% Interest income 42.4 44.8 49.1 56.1 61.7 +45.4% Non-interest income 13.2 13.5 14.0 14.1 14.5 +10.2% Fees and commissions income 11.9 11.8 12.5 12.8 13.4 +12.8% Other operating income 1.3 1.6 1.4 1.2 1.1 -12.8% Other income 0.1 0.2 0.1 0.3 0.1 -9.3% Ordinary expenses 31.5 34.4 35.8 42.1 45.5 +44.2% Interest expenses 10.1 12.1 12.4 16.8 18.3 +80.2% Non-interest expenses 8.3 8.2 8.4 8.5 8.8 +6.1% Fees and commissions expense 8.3 8.2 8.4 8.5 8.5 +1.7% Other operating expense ― ― ― ― 0.3 ― General and administrative expenses 12.0 12.7 13.3 14.4 15.4 +28.5% Other expenses 1.0 1.2 1.6 2.3 2.8 +179.9% Net Operating Profit *1 24.9 24.8 28.2 30.0 33.3 +33.9% Ordinary profit 24.2 24.1 27.4 28.4 30.8 +27.4% % Margin 43.4% 41.1% 43.3% 40.3% 40.4% -3.0pts Extraordinary profit / (loss) ― ― -0.0 -0.0 -0.0 ― Income before income taxes 24.2 24.1 27.4 28.4 30.8 +27.4% Net income 16.8 16.7 19.3 20.0 21.1 +25.7% % Margin 30.1% 28.6% 30.5% 28.3% 27.6% -2.4pts Quarterly Non-consolidated Financial Summary *1：Net Operating Profit = Gross Operating Profit－General and Administrative Expenses－Provision of General Allowance for Loan Losses
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38 Financial Summary – Non-consolidated Balance Sheets (JPY bn, non-consolidated) Mar. 31, 2024 Mar. 31, 2025 Mar. 31, 2026 Jun.30, 2025 Jun.30, 2026 Total assets 13,527.6 14,705.8 16,438.8 15,149.7 16,230.4 (incl.) Cash and due from banks 4,782.3 4,231.8 4,126.8 4,719.2 3,744.9 (incl.) Monetary claims bought 2,498.8 2,828.6 3,198.6 2,856.5 3,243.2 (incl.) Marketable securities 1,286.4 1,981.6 2,345.5 2,076.2 2,198.0 (incl.) Loans 4,029.3 4,954.6 5,819.7 4,767.0 5,962.3 Total liabilities and net assets 13,527.6 14,705.8 16,438.8 15,149.7 16,230.4 Total liabilities 13,271.9 14,408.0 16,073.0 14,832.3 15,843.3 (incl.) Deposits 10,540.2 11,476.3 12,964.4 11,728.2 13,365.6 (incl.) Borrowed money 2,565.8 2,749.8 2,812.5 2,898.8 2,234.5 Total net assets 255.7 297.7 365.8 317.3 387.0 (incl.) Total shareholder equity 264.3 314.9 387.9 331.8 409.1 Capital adequacy ratio (a)/(b) (Japanese domestic standard) 10.6% 10.7% 11.0% 10.8% 11.6% Total capital (a) 253.0 299.7 368.2 315.1 388.3 Total amounts of risk-weighted assets, etc. (b) 2,369.5 2,782.6 3,344.1 2,899.2 3,321.0
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39 Interest Spread (Non-consolidated) No. FY2025 FY2026 YoY Change for 1QThree Months Ended Jun. 30, 2025 Three Months Ended Sep. 30, 2025 Three Months Ended Dec. 31, 2025 Three Months Ended Mar. 31, 2026 Cumulative Three Months Ended Jun. 30, 2026 Yield on Interest Earning Assets １ 1.16 1.15 1.23 1.37 1.23 1.50 +0.34 Interest Earned on Loans and Bills Discounted ２ 1.76 1.77 1.81 1.84 1.80 2.04 +0.28 Interest Earned on Monetary Claims Bought ３ 1.24 1.23 1.33 1.55 1.34 1.65 +0.41 Interest Earned on Securities ４ 1.11 1.20 1.26 1.29 1.22 1.36 +0.25 Total Cost of Funding (Including Expenses) ５ 0.62 0.65 0.66 0.78 0.68 0.84 +0.22 Cost of Interest -Bearing Liabilities ６ 0.28 0.32 0.32 0.42 0.33 0.46 +0.18 Interest Paid on Deposits ７ 0.24 0.26 0.27 0.38 0.29 0.42 +0.18 Overall Interest Spread (1)- (5) ８ 0.54 0.50 0.57 0.59 0.55 0.66 +0.12 Interest Spread (1)- (6) ９ 0.88 0.83 0.91 0.95 0.90 1.04 +0.16 Interest Earned on Loans and Bills Discounted 10 2.30 2.27 2.37 2.44 2.35 2.60 +0.30 Reference: After Deducting Loans to the Japanese Government, etc. （％）
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40 0 2 4 6 8 10 12 14 16 18 20 2025/6 2026/6 60s and over 50s 40s 30s 20s Under 20s Accountholder Demographics*1 *1: As of Jun. 2026 3.1% 3.3% By Age By RegionBy Occupation Penetration Rate*2 by Age Group *2: Ratio of Our Bank‘s Accounts to Population by Age Group. The population by age group is based on government statistics as of Jun. 2025 (actual) and Jun. 2026 (estimate). 3.3% (Millions of accounts)Under 20s 4%20s 12% 30s 22% 40s 24% 50s 22% 60s and over 16% Company employee (general) 46% Company employee (manager & above) 4%Public servant, teacher 6% Specialist (doctor, lawyer, etc.) 1% Organizational staff 1% Self-employed 8% Part-time 12% Housewife 7% Student 6% Unemployed 4% Company executive 2% Others 3% Hokkaido 4% Tohoku 6% Kanto, Koshinetsu 43% Hokuriku 2% Tokai 11% Kansai 17% Chugoku, Shikoku 7% Kyushu, Okinawa 10% 5.5% 19.5% 25.2% 28.6% 16.2% 3.3% 6.4% 21.2% 27.4% 30.5％ 17.0％ 3.7%
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41 Integrated Report 2026 (Fiscal Year Ended March 31, 2026) Enhanced ESG-related Disclosures Featured a message from the Executive Manager of Human Resources Division, focusing on the revision of evaluation systems and initiatives to secure talent for sustainable growth. Expanded sustainability-related disclosures, including the revision of materiality and the results of climate change scenario analysis. Featured a roundtable discussion between Outside Directors on topics such as the effectiveness of the Board of Directors, ensuring independence from the parent company, and initiatives for the protection of minority shareholders. *Available on our website along with the supplementary materials (Japanese only): https://www.rakuten-bank.co.jp/corp/investors/documents/disclosure.html Sustainability Revised materiality and climate change scenario analysis. Corporate Governance A roundtable discussion featuring two Outside Directors, covering initiatives to ensure independence from the parent company and protect minority shareholders. Human Capital Human resources strategy and a message from the Executive Manager of Human Resources Division.
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The opinions and forecasts stated in this document reflect the Bank's judgment at the time these materials were prepared. The Bank does not guarantee the accuracy of the information contained herein. Please note that actual performance and results may differ significantly due to various factors.
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Reference Materials for FY2026 First Quarter Consolidated Financial Results August 6, 2026 Rakuten Bank, Ltd. https://www.rakuten-bank.co.jp/corp/english/investors/ Link to Integrated Report Integrated Report https://www.rakuten-bank.co.jp/english/images/report-250926-01.pdf Financial Report https://www.rakuten-bank.co.jp/english/images/report-250926-02.pdf
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44 Contents 3 Supplemental Information for Our Growth Strategy 2 About Our Medium- to Long-Term Vision and Growth Strategy 1 Rakuten Bank’s Corporate Profile 4 About Rakuten Group
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45 1 Rakuten Bank’s Corporate Profile
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46 Corporate Profile Name Rakuten Bank, Ltd. Established January 14, 2000 Capital JPY32,643mm* Employees 1,186* (consolidated) Headquarters NBF Shinagawa Tower, 2-16-5 Konan Minato-ku, Tokyo, Japan 108-0075 Business Banking via electronic medium Consolidated subsidiaries Rakuten Trust Co., Ltd. Rakuten International Commercial Bank 21 others * As of Mar. 31, 2026 In its aim to be the “safe, secure, and most convenient bank,” Rakuten Bank leverages the Rakuten Group’s strengths to develop a host of distinctive services. Rakuten Life Insurance Rakuten General Insurance
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47 0.7 1.6 5.7 12.9 Mar. 2011 Mar. 2016 Mar. 2021 Mar. 2026 CAGR 17.8% CAGR 28.7% CAGR 17.5% (JPY tn) 48.3 71.5 103.0 FY23 FY24 FY25 18.07 9.98 9.00 7.28 Rakuten Bank A B C Business Overview*1 No. of new accounts (April 2025–March 2026) Full lineup of digital banking service Personal loans, housing loans, foreign currency deposits, money transfers via Viber, etc. Digital bank within the Rakuten Ecosystem No.1 *31.24 million (mm) Highlights Japan’s largest digital bank KPI Both the number of accounts and the deposit balance continued to grow steadily. Consolidated financial figures Our growth & stability as reflected in financial figures Comparison of account numbers among digital banks (as of 31.March 2026) 32.8% Primary account for everyday transactions Percentage of customers using Rakuten Bank as their primary account*² *1 As of end-March 2026. *2 Accounts used for direct debit or for receiving salary and bonus payments *3 A digital bank is a bank that operates primarily online without physical branches. Based on the disclosure materials of insti tutions classified under “Other” in the Financial Services Agency’s “List of Licensed, Registered, and Authorized Financial Institutions” (as of end-March 2025), calculations were conducted by the Bank . *4 Capital adequacy ratio (domestic standard) is calculated based on standards stipulated by Article 14-2 of the Banking Act for the purpose of determining whether banks have sufficient equity capital given their holdings of assets and other instruments (Notification No. 19, the Financial Services Agency of Japan, 2006). Basel III finalization was implemented from the end of March 2025. Ordinary profit Capital Adequacy Ratio*4 Trends in Deposit Balances（2011-2026） Number of Employees 1,056 1,076 1,186 Ordinary Profit per Employee (JPY mm) 45 66 86 263 307 376 2,409 2,901 3,503 10.9% 10.6% 10.7% Mar. 2024 Mar. 2025 Mar. 2026 Common equity-regulartory adjustments Total risk weighted assets Capital adequacy ratio (domestic standard) (JPY bn) (JPY bn)
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48 Rakuten International Commercial Bank in Taiwan 50% IBF Financial Holdings Co., Ltd. Rakuten International Commercial Bank Co., Ltd. Rakuten Card Co., Ltd. 49%1% Company Name RAKUTEN INTERNATIONAL COMMERCIAL BANK CO., LTD. (Joint Venture) Establishment May 18, 2020 Operation Since January 19, 2021 Business Electronic banking services (mainly online banking business for retail customers) Capital TWD 10bn *1 Ownership Rakuten Bank 50%, Rakuten Card, 1%, IBF*2 49% *1: As of end-Jun. 2026. *2: IBF Financial Holdings Co., Ltd. *3: Template for banks to accept customers to open digital deposit accounts online. Nov 2018 Jul 2019 May 2020 Dec 2020 Jan 2021 Nov 2021 Amendment of Banking Act to allow online banking in Taiwan Rakuten Bank, Rakuten Card and IBF obtained approvals to start a banking operation from the Financial Supervisory Commission Established a Joint Venture Obtained a business license Started business operations Permitted by applicable laws *3 (partially amended in Jan 2022) to allow open internet banking accounts for corporate customers to a limited extent History Company Overview Group Structure Taiwan Rakuten Ecosystem
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Our Philosophy 1. Mission: Contribute to society by creating value through innovation and entrepreneurship Empowering people to realize their hopes and dreams, embracing new thinking, Rakuten Bank changes the world through innovation 2. Vision: Global Innovation Company We drive disruptive innovation, engaging knowledge, creativity and passion from around the world to achieve ambitious goals and help build communities in which people can pursue their dreams and live in happiness 3. Values and Principles: Rakuten Shugi(Rakuten Basic Principles) The core values of the Rakuten Group, along with the values and principles understood and practiced by employees, consist of the Brand Concepts and Five Principles for Success Rakuten Bank is aware of our public role and social responsibilities as a bank, and we strive to establish sound efficient business operations based on high self-discipline, to maintain society's unwavering trust and establish value. In addition, as a member of the Rakuten Group, we share the “Mission, Vision, Values and Principles” and aim to be a global innovation company, increasing our corporate value and contributing to society in harmony with global society.
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50 Rakuten Bank’s History *1: Now Rakuten Group, Inc. *2: According to our research July. 2001 Obtained a Japanese banking license and launched eBANK Corporation Sep. 2008 Entered a capital and business alliance with Rakuten, Inc. *1 Oct. 2010 Became a wholly owned subsidiary of Rakuten, Inc. *1 Sep. 2010 Became the first bank in Japan*2 to offer an iPhone app that enabled bank transfers July 2019 Received necessary Approvals to start a banking operation in Taiwan (started business in January 2021) January 2021 Became the first digital bank*2 in Japan to surpass 10mm accounts April 21, 2023 Listed on the Prime Market of the Tokyo Stock Exchange May. 2010 Change of corporate name to Rakuten Bank, Ltd. Dec 2023 Became the first digital bank *2 in Japan to surpass a JPY10tn deposit balance Feb. 2024 Became the first digital bank *2 in Japan to surpass 15mm accounts Apr.2009 Acquired part of the card loan business from Rakuten Credit, Inc. and commenced personal card loan operations Dec. 2010 Acquired the business of Rakuten Mortgage Co., Ltd. and commenced housing loan operations Sep. 2014 Made The Trans Value Trust Company, Limited a wholly owned subsidiary (currently Rakuten Trust Co., Ltd.) July 2026 25th Anniversary
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51 Three Business Pillars Services for Individual Customers Services for Corporate Customers and Sole Proprietors Securitization Business Rakuten Card trust beneficiary rights Real estate finance Asset liquidation Deposits/ asset management Transfers/ remittances Payments Entertainment Asset management tools DATA In collaboration with Rakuten Trust, the Rakuten Bank Group provides one-stop securitization services Rakuten Group services Personal loans The number of companies using us as their main bank among domestic digital banks*1 No.1 *1: Data pertaining from an August 2025 survey by Tokyo Shoko Research focusing on companies’ main banks in 2025. https://www.tsr-net.co.jp/data/detail/1201661_1527.html Data pertaining from a December 2025 survey by Teikoku Databank, Ltd. Nationwide Corporate ‘Main Bank’ Trends (2025) https://www.tdb.co.jp/report/industry/20251219-mainbank25y/ (Trust) Overwhelmingly convenient online services enabled by in-house systems Face-to-face representatives fostering comprehensive transactions 18 million individual customers supporting B2C & C2B transactions for corporate clients Three Features of Our Corporate Business
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52 Strong Commitment by Experienced Management*1 *1: As of Jun. 24, 2026 Mika Matsumoto Executive Manager ・Tokyo Center Division ・ Fukuoka Center Division General Manager ・ Fukuoka Center Division Masato Tarukado Executive Manager ・Investment Business Division General Manager ・Investment Business Division Tatsuya Misawa Executive Manager ・Creative & Web Design Division General Manager ・Creative & Web Design Division Kenji Takeuchi General Manager ・ Data Intelligence Division Tamaki Kasuya Executive Manager ・Sales & Product Planning Division (Personal customers) ・Marketing Division General Manager ・Marketing Division Kosho Ito General Manager ・Innovative Service Planning Division Kazuma Koike Executive Manager ・Human Resources Division ・General Affairs Division General Manager ・ Human Resources Division Executive Officer Managing Executive Office Takuya Kato Executive Manager ・ Compliance Division ・ Risk Management Division General Manager ・ Risk Management Division Hajime Hayakawa Executive Manager ・Data Intelligence Division ・ System Division General Manager ・ System Division Yuichiro Takasugi Executive Manager ・Innovative Service Planning Division ・Sales & Product Planning Division (Corporate customers) General Manager ・Sales & Product Planning Division (Corporate customers) Senior Executive Officer Executive Manager ・Finance Division ・Planning Division
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53 Business Operations Going Forward Efficiently acquire customers at low cost by leveraging the Rakuten Ecosystem Promote the conversion of acquired accounts into main accounts and further advance primary account usage to drive deposit growth Utilize deposits and retained capital to build a well-balanced portfolio of investment assets Achieve further growth in corporate value At present, we prioritize FinTech reorganization over setting new medium- to long-term targets in a positive interest rate environment. While keeping our core strategy essentially unchanged, we aim to further expand and strengthen existing initiatives Plans to revise the medium- to long-term vision, which had been based on the assumption of negative interest rates Achieved in FY2024
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54 Strategic Investment Direction We view the coming years as a phase of business expansion and plan to actively increase selective investments to lay a foundation for growth. While actual G&A expenses are expected to increase, we aim to expand profits by strengthening yield enhancement and leveraging the tailwinds of policy rate hikes. Accounts and deposits Operating efficiency Investment / yield enhancement Marketing investment Prioritize increases in the number of accounts and deposit balance Technology investment Establish an AI Promotion Committee and promote productivity improvements through the utilization of AI Human capital investment Promote HR development aimed at driving sustainable growth 10% increase in the number of accounts Deposit growth outpacing account growth 30% improvement in operational efficiency NIM expansion
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55 Disciplined Corporate Governance *1 Special Advisory Committee*2 Group Synergies Arm’s- Length 4 Outside Directors out of 7 Directors Hiroshi Mikitani Chairman 4 Outside Auditors out of 4 Auditor Toru Mimura Outside audit ＆ supervisory board member Shinnosuke Yamada Outside audit ＆ supervisory board member Jun Ikeda Full-time Independent Outside audit ＆ supervisory board member Masatsugu Nagato Outside director Banking Regulations Kayoko Kawamura Outside director Satoshi Kawai Outside director Mari Kogiso Outside director Naoki Mizuguchi Director＆Executive Vice President Seiko Ohora Outside audit ＆ supervisory board member *1: As of Jun. 24, 2026 *2: Special Advisory Committee must be consulted in advance or reported afterwards on management policy decisions made according to requests from Rakuten Group, Inc. related to their group business strategy, human resource matters regarding both Rakuten Bank group and the Rakuten Group, and the conducting o f transactions and actions with the Rakuten Group. Members of the Special Advisory Committee are comprised of outside directors (Masatsugu Nagato, Kayoko Kawamura, Satoshi Kawai and Mari Kogiso ) and outside audit and supervisory board members (Jun Ikeda, Shinnosuke Yamada, Toru Mimura and Seiko Ohora) as defined in the Company Law. TomotakaTorin President ＆ CEO 42.9% 57.1%Outside DirectorInside Director
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56 Materiality We have identified our materiality by carefully evaluating and discussing sustainability-related issues from the perspectives of their impact on society and the financial impact on the Company. In light of changes in the business environment and broader external environment, we have revised our materiality. As a financial institution entrusted with the public responsibility of banking, we will fully uphold the Rakuten Group’s mission in the FinTech domain and continue contributing to the resolution of environmental and social issues over the long term. Materiality Identification Steps Materiality ※Once the FinTech business reorganization becomes effective, we will re -evaluate our materiality.
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57 ESG Data: Environment 1 Notes on terminology used in the table ・Bank: Rakuten Bank, Ltd. ・Trust: Rakuten Trust Co., Ltd. ・RICB: Rakuten International Commercial Bank Co., Ltd. *1 Data marked with ✓ are subject to the third-party assurance. *2 CO2 emissions, energy consumption, water withdrawal, and waste generation have been aggregated on a fiscal year basis (April 1 –March 31) since FY2024. Prior to that, data were aggregated on a calendar year basis (January 1–December 31). Starting in 2022, the scope and calculation methodologies for CO 2 emissions and energy consumption were revised to improve calculation accuracy. Past data have not been retroactively restated. *3 The scope 2 data used market-based method. *4 RICB emissions increased by 139 t- CO2. *5 In FY2025, by applying energy attribute certificates to electricity other than renewable energy across all domestic sites, th e Bank achieved RE100 at all domestic locations. *6 Due to the increase in purchase amount, CO2 emissions increased by 122,544 t- CO2. *7 Emissions decreased by 8,097 t- CO2, primarily due to a reduction in capital expenditures following a review of the calculation scope for Category 2. *8 Due to a decrease in emissions from a major supplier, CO2 emissions decreased by 176 t- CO2 *9 Emissions were reduced by 3 t- CO2 due to lower cafeteria waste. *10 No target data centers for FY2025. FY2025 Assurance*1 Total*3 t-CO2 239,329 4,675,576 8,407,135 8,837,652 9,012,290 ✓ 1,585 1,379 1,672 2,045 2,154 ✓ 1,247 178 0 0 139*4*5 ✓ Scope 3 t-CO2 238,082 4,675,399 8,407,135 8,837,652 9,012,151 ✓ Category 1 t-CO2 5,339 90,975 97,122 113,128 235,672*6 ✓ Category 2 t-CO2 N/A 13,405 12,198 12,937 4,839*7 ✓ Category 3 t-CO2 N/A 207 259 322 348 ✓ Category 4 t-CO2 N/A 706 767 872 696*8 ✓ Category 5 t-CO2 N/A N/A 2 18 14*9 ✓ Category 6 t-CO2 N/A 132 139 140 154 ✓ Category 7 t-CO2 229 240 258 258 284 ✓ Category 8 t-CO2 N/A 266 N/A N/A N/A*10 ✓ Category 15 t-CO2 232,514 4,569,468 8,296,390 8,709,974 8,770,140 ✓ Total MWh 2,672 3,027 3,793 4,726 5,103 ✓ Total MWh 2,672 3,027 3,793 4,726 5,103 ✓ MWh 291 2,725 3,793 4,726 4,844 ✓ % 9.84 90.01 100 100 94.92 ✓ FY2024 FY2025 Environmental Data*2 CO2 emissions Bank,Trust,RICB Scope 2 Location-based Bank,Trust,RICB t-CO2 Market-based Item Coverage Unit CY2021 CY2022 CY2023 Bank Waste generated in operations Bank Business travel Bank,Trust,RICB Employee commuting Bank,Trust,RICB Bank,Trust,RICB Purchased goods and services Bank Capital goods Bank,Trust,RICB Fuel- and energy-related activities Bank,Trust,RICB Upstream transportation and distribution Upstream leased assets Bank Investments Bank Energy consumption Bank,Trust,RICB Electricity Renewable Renewable ratio Scope 3 breakdown
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58 FY2025 Assurance*1 Total 1,000m3 - - 3 11 12 Total t - - 3 7 9 Total Billions of yen 11.6 55.7 132.6 220.9 236.4 FY2024 FY2025 Environmental Data*2 Item Coverage Unit CY2021 CY2022 CY2023 Water withdrawal Bank,Trust,RICB Waste generation Bank Outstanding balance of environment-related Investment and financing*3 Bank ESG Data: Environment 2 Notes on terminology used in the table ・Bank: Rakuten Bank, Ltd. ・Trust: Rakuten Trust Co., Ltd. ・RICB: Rakuten International Commercial Bank Co., Ltd. *1 Data marked with ✓ are subject to the third-party assurance. *2 CO2 emissions, energy consumption, water withdrawal, and waste generation have been aggregated on a fiscal year basis (April 1 –March 31) since FY2024. Prior to that, data were aggregated on a calendar year basis (January 1–December 31). Starting in 2022, the scope and calculation methodologies for CO 2 emissions and energy consumption were revised to improve calculation accuracy. Past data have not been retroactively restated. *3 Outstanding balance of environment-related Investment and financing have been aggregated on a fiscal year basis (April 1 –March 31) since FY2021. The scope of environment-related investment and financing includes investment and financing transactions falling under (1) and ( 2) below. (1) Investment and financing, including refinancing, that comply with international principles or government guidelines ・Green Bond Principles (International Capital Market Association） ・Green Bond Guidelines (Ministry of the Environment, Japan) ・Climate Bonds Standard (Climate Bonds Initiative) ・Climate Transition Finance Handbook (International Capital Market Association) ・Basic Guidelines on Climate Transition Finance (Financial Services Agency, Ministry of Economy, Trade and Industry, Ministry of the Environment, Japan) ・Green Loan Principles (Loan Market Association, etc.) ・Green Loan and Sustainability-Linked Loan Guidelines (Ministry of the Environment, Japan) ・Sustainability Bond Guidelines (International Capital Market Association) ・Sustainability-Linked Bond Principles (International Capital Market Association) (2) Investment and financing, including refinancing, equivalent to (1) above, where the use of proceeds is limited to the followi ng purposes: ・ Investment and financing (including refinancing) in projects certified under the FIT Act that comply with applicable laws and regulations, including the Forest Act and the Natural Environment Conservation Act Examples: energy-saving and renewable energy projects that reduce climate change risks (such as solar power facilities and equipment, wind, hydroelectric, and biomass power generation facilities) ・Loans for ZEH (Net Zero Energy Houses), including housing loans and investment condominium loans
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59 FY2025 Assurance*1 people 925 1,001 1,056 1,076 1,186 people 171 172 192 212 239 people 925 1,001 1,056 1,076 1,186 people 426 472 521 535 559 % 46.1 47.2 49.3 49.7 47.1 people 499 529 535 541 627 % 53.9 52.8 50.7 50.3 52.9 people 769 836 880 896 987 % 83.1 83.5 83.3 83.3 83.2 people 156 165 176 180 199 % 16.9 16.5 16.7 16.7 16.8 people 272 318 373 374 391 % 29.4 31.8 35.3 34.8 33.0 people 522 513 498 506 548 % 56.4 51.2 47.2 47.0 46.2 people 131 170 185 196 247 % 14.2 17.0 17.5 18.2 20.8 FY2024Item Unit CY2021 CY2022 CY2023 Total number of employees*2 Bank,Trust,RICB Average number of temporary emproyees* 3 Coverage Age Total number of employees in each of following diversity categories Bank,Trust,RICB Female/Male Nationality FY2025 Social Data Female Male Japanese Non-Japanese Under 30 30 – 50 Over 50 ESG Data: Social 1 Notes on terminology used in the table ・Bank: Rakuten Bank, Ltd. ・Trust: Rakuten Trust Co., Ltd. ・RICB: Rakuten International Commercial Bank Co., Ltd. *1 Data marked with ✓ are subject to the third-party assurance. *2 The total number of employees includes Permanent employees, commissioned employees, contract employees, and secondees, and ex cludes employees seconded from the Bank to companies outside the group companies. *3 The number of temporary employees (including part-time employees and dispatched workers) is shown as the annual average number.
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60 ESG Data: Social 2 Notes on terminology used in the table ・Bank: Rakuten Bank, Ltd. ・Trust: Rakuten Trust Co., Ltd. ・RICB: Rakuten International Commercial Bank Co., Ltd. *1 Data marked with ✓ are subject to the third-party assurance. *2 Calculated in the same way as the calculation method based on the "Act to Facilitate the Employment of Persons with Disabilit ies" of the Ministry of Health, Labor and Welfare, with March 1 as the base date. *3 Calculated in accordance with the provisions of the Act on Promotion of Women’s Participation and Advancement in the Workplac e (Act No. 64 of 2015). *4 The childcare leave utilization rate is calculated in accordance with the provisions of the Act on Childcare Leave, Caregiver Leave, and Other Measures for the Welfare of Workers Caring for Children or Other Family Members (Act No. 76 of 1991) and the Enforcement Regulations of the Act (Ministry of Labour Ordinance No. 25 of 1991), Article 71-6, Paragraph 1, with the addition of childcare-purpose leave. It is calculated as the number of employees who commenced childcare leave during the relevant fiscal year, divided by the number of employees whose child was born during the same fiscal year. As a result, the ratio may exceed 100% in some fiscal years. FY2025 Assurance*1 % 3.11 2.69 3.15 2.69 2.50 % - 21.7 20.4 21.5 17.1 % - 91.6 90.9 122.2 81.8 % - 90.0 88.8 133.3 77.7 % - 100.0 100.0 100.0 100.0 years 38.1 37.1 36.7 36.8 37.4 - 60.4 61.2 62.6 63.6 - 62.6 62.3 66.3 65.9 - 60.6 61.2 57.8 56.6 4.8 5.0 5.2 5.5 5.5 4.2 4.3 4.6 5.0 5.3 5.4 5.5 5.9 6.0 5.7 FY2025 Social Data Average length of service Bank years Female/Male Female Male Gender pay gap ratio*3 All employees Bank %Permanent employees Contract employees Average age Bank Employment rate of people with disabilities*2 Bank Share of female managers*3 Bank Parental leave uptake rate for male employees* 4 Bank Contract Permanent General Track Fixed-term General Track Coverage FY2024Item Unit CY2021 CY2022 CY2023
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61 FY2025 Assurance*1 people 5 5 5 5 5 people 3 3 3 3 3 people - *2 - *2 3 3 3 people 0 0 0 0 1 people 4 4 4 4 4 people 3 3 3 3 3 people - *2 - *2 3 3 3 people 0 0 0 0 0 FY2023 FY2024 FY2025 Board of Directors Item Coverage Unit FY2021 FY2022 Governence Data Number of directors Bank Number of external directors Bank Number of independent directors Bank Number of external auditors Bank Number of independent auditors Bank Number of female auditors Bank Number of female directors Bank Board of Corporate Auditors Number of auditors Bank ESG Data: Governance *1 Data marked with ✓ are subject to the third-party assurance. *2 The number of independent directors and independent auditors represents those directors and Board of Company Auditors reporte d as independent officers in the Notification of Independent Officers submitted to the Tokyo Stock Exchange. As the Bank was listed on the Prime Market of the Tokyo Stock Exchange on April 21, 2023, figures f or FY2021 and FY2022 are not available (shown as “-”). Notes on terminology used in the table ・Bank: Rakuten Bank, Ltd. ・Trust: Rakuten Trust Co., Ltd. ・RICB: Rakuten International Commercial Bank Co., Ltd.
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62 2 About Our Medium- to Long-Term Vision and Growth Strategy
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63 Medium- to Long-term Vision With an eye to the arrival of the zero-cash era, in April 2022 a medium- to long-term vision was formulated, indexed to FY2020, in the aim of becoming a leading FinTech company. Number of accounts (non-consolidated) CAGR 15%+ CAGR 20%+ CAGR 10%+ CAGR 15%+ Balance of deposits (non-consolidated) 10.52mm FY2020 Approx. 25mm Target (FY2026) JPY5.7tn FY2020 Approx. JPY20tn Target (FY2026) Consolidated ordinary income Consolidated ordinary profit Approx. JPY200.0bn Approx. JPY70.0bn Approx. JPY103.3bn Approx. JPY27.5bn FY2020 Target (FY2026) FY2020 Target (FY2026) At present, we prioritize FinTech reorganization over setting new medium- to long- term targets in a positive interest rate environment.
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64 5.7 12.9 20.0 FY2020 FY2025 FY2026 Target 103.3 255.5 200.0 FY2020 FY2025 FY2026 Target CAGR+19.8% （Target: >+10%） 27.5 103.0 70.0 FY2020 FY2025 FY2026 Target CAGR +30.1% （Target: >+15%） 10.5 18.0 25.0 FY2020 FY2025 FY2026 Target CAGR +11.4% （Target: >+15%） Progress of Medium- to Long-Term Vision Number of Bank Accounts （mm, non-consolidated） Ordinary Income （JPY bn, consolidated） Total Deposit Balance （JPY tn, non-consolidated ） CAGR +17.5% （Target: > +20%） Ordinary Profit （JPY bn, consolidated）
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65 Growth in Interest Income ・Produce of Group's proprietary assets to have a balanced and diversified loan portfolio ・Balanced expansion of diverse assets under management Two Pillars of Earnings (Non-Interest Income/Interest Income) Growth in Non-Interest Income ・Achieve further growth by acquiring main accounts*1 and through cross-selling Mar. 2027: Approx. 25mm Main account*1 acquisition Cross-selling of Rakuten Group services … Mid/long-term target for number of accounts*2 FY2026 Q1 non-interest income*2*3 : JPY14.5bn FY2026 Q1 interest income*2 : JPY61.7bn 19.0% of total income direct debit or direct deposit of payroll including salary or bonus JPY5.9tn Housing loans 12% ABL*4 22% Loans to Ministry of Finance 34% Investment property loans 17% Personal loans 5% Affiliated loans 5% Business loans 2% Others 3% (As of Jun. 30, 2026, non-consolidated) (As of Jun. 30, 2026, non-consolidated) Others 26% Assets Loans Monetary Claims Bought Trust beneficiary rights of Rakuten Card 74% 80.7% of total income *1: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus; *2: Non -consolidated; *3: Calculated as the sum of fees and commissions income and other operating income ; *4: Asset-based lending JPY3.2tn
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66 Robust Synergies with Unique Rakuten Ecosystem Unique Ecosystem Trusted and Well-known Brand Deep & Rich Data × Technology Most Popular*4 Point Program 70+ services*1 100mm+ membership*1*2 100mm+ membership*1*2 6.0K+ tech engineers*6Attractive SPU*5 for customers One of Japan’s leading web brands*3 Origination of Unique Investment Assets Customer Acquisition Cross-selling (in Japan) (in Rakuten group companies) *1: As of Jun. 30, 2026. *2: Cumulative number of Rakuten IDs where members logged in at least once after membership registration (excluding members who cancelled their membership). Includes individuals with multiple membership IDs. One ID can be used for most Rakuten services. *3: Nikkei BP Consulting’s web brand survey 2025 Autumn/Winter. “Japan web brand index top 50.” Rakuten Ichiba has been NO.1, Rakuten Travel, Rakuten Card, and Rakuten Bank have been ranked in the list. *4: MyVoice Communications, Inc. Survey on points in Japan. Jun 2025. *5: Super Point Up Program: a point up program where customers can earn more points by using Rakuten Ichiba based on their us age of other Rakuten services. *6: As of Jun. 30, 2026.
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67 One ID / One Point Program Customer Satisfaction Survey ・Most coveted reward points ・ Most used reward points ・ Most earned reward pointsNO.1 *1 Cumulative number of point issued =A reward point program that allows users to earn additional points for purchases made on Rakuten Ichiba (e-commerce platform) when they meet certain usage conditions for various Rakuten services 1x When using Rakuten Bank *Direct Debit for Rakuten Card (+0.3x) +Direct Deposit of Payroll (+0.2x) +0.5x +2x When using Rakuten Card *Regular (+1x) +Bonus (+1x) +1x When using Rakuten Securities *Point Investment in Investment trust(+0.5x) +US Stock(+0.5x) ・・・ +6x When using Rakuten Mobile Mobile contract (+4x)+Mobile career payment usage (+2x) Base Point 18.5x Max *2 Monthly Active Users*4 45.6mm % of points used*3 Ratio of Users with Two or More Services*5 Approx.5.2tn Approx.90% 77.3% Rakuten Points Key figures（As of Dec. 2025） Rakuten Ecosystem Key figures（As of Dec. 2025） Multiple Usage Initiatives SPU （Super Point Up Program） *1: June 2025 survey on reward points in Japan by My voice. com *2: Each service has its own usage conditions and maximum number of points that can be awarded, including limited- time points. *3: Calculated by dividing total number of used points in 2025 by total number of points issued. *4: Number of active users in December 2025. Figures are for Rakuten members who earned at least one Rakuten Point in the relevant month. *5: Percentage calculated by dividing the number of users of two or more services in the past 12 months by the number of users of all services in the past 12 months as of the end of December 2025. Limited to the use of services that can earn Rakuten Points. One ID can be used for various Rakuten services. Rakuten Point, our integrated reward point program that allows customers to earn and use points across all Rakuten services, supports effective customer acquisition and encourages repeat usage.
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68 Our Unique Service Offering through One App Single integrated app comprehensively covering individuals’ everyday life Full-fledged Digital Banking Services Rakuten Ecosystem Payment Deposits / Asset Management TransferLoans Entertainment
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69 *1: Cumulative number of Rakuten IDs where members logged in at least once after membership registration (excluding members who cancelled their membership). Includes individuals with multiple membership IDs. One ID can be used for most Rakuten services. *2: Super Point Up Program: a point up program where customers can earn more points by using Rakuten Ichiba based on their usag e of other Rakuten services. *3: As of Mar. 31, 2026 (in last 12 months) *4: Monthly Active Users *5: As of Mar. 31, 2026. From Financial Data Sheet disclosed by Rakuten Group, Inc. in May 14, 2026 *6: As of Jun. 30, 2026 *7: For the last twelve months, calculated as number of new Rakuten Bank’s customers who applied to open a bank account through links on other Rakuten Group companies’ banners or websites divided by total new customers during the period(excl. Baas account). *8: Average over the most recent 4 quarters. CAC (Customer Acquisition Cost) is the expenses related to acquiring an individual customer who opens a new account over a period of time estimated based on the actual marketing expenses. *9: As of Jun. 30, 2026, From Rakuten Securities, Inc. FY2026 1H Earnings Presentation Material. *10:Compiled by Rakuten Securities based on the Financial Services Agency's 'Survey on NISA Usage (as of Dec. 2025) and disclosure information on each company's website. *11:Results of FY2025 the Japan Customer Satisfaction Index Survey: https://www.jpc-net.jp/research/detail/007477.html (Japanese only) *12: As of Dec. 25, 2025. Total number of Rakuten Mobile subscriptions. Efficient Customer Acquisition through the Rakuten Ecosystem No.1 QR Code payment service in customer satisfaction for three consecutive years*11 14.3mm accounts*9 NISA’s Account No.1*10 100mm+ Rakuten membership*1 JPY 6.4tn domestic e-commerce GMS*3 45.9mm MAU*4*5 : Potential customer inflows (not to scale) 59.7% of new customers come via Rakuten Group channel*7 Money Bridge (Point rewards ・ preferential interest rate ) Direct Payment SPU*2 (Point rewards) Direct Debit (Point rewards ・ preferential interest rate ) Low CAC: JPY2,660 *833.8mm cards issued*5 A Leading Credit Card Service in Japan Rakuten Bank Customers’ Word of Mouth Exceeded 10mm lines * 12 Usage Fee （Debit card/direct debit） 18.4mm accounts*6
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70 Customer Benefits Through Integration with the Rakuten Ecosystem Rakuten ID (Ecosystem-Wide Common ID) Rakuten Bank Account ID Linkage Happy Program (Customer Loyalty Program ) Preferential ATM and transfer fees to other banks are offered based on deposit balance and transaction volume. Rakuten Points are earned with every transaction. By linking their Rakuten member ID with their Rakuten Bank account, customers can earn free ATM and interbank transfer transactions based on usage, and accumulate Rakuten Points through the use of Rakuten Bank services.
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71 Full-fledged Digital Banking Services Single integrated app comprehensively covering individuals’ everyday life Payment Deposits / Asset Management Transfer Loans Direct Access to Rakuten Group Services ATM Payroll Transfer via Viber/Facebook Transfer via email address Split bill Domestic/international transfer Deposits (JPY, foreign currency) FX margin trading Personal financial management (“Money Support”) Debit card Affiliated credit card Prepaid card Pay-easy*1 Automatic payment transfer Convenience Store Payment (Payment by deposit slip) Personal loan Housing loan Education loan Reverse mortgage loan Investment property loans Real estate collateralized loans Securities-Backed Loan Rakuten Ichiba Rakuten Card Rakuten Pay Rakuten Securities Rakuten Life/General Insurance, etc. Entertainment Lottery Public racing (bicycle, horse, auto, boat) *1: Fast payment services via internet banking or at ATMs managed by Japan Multi-Payment Network Promotion Association through which people can pay for tax, utility bills, other bills, etc. without visiting financial institutions or convenience stores.
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72 Our Main Accounts’*1 Growth Momentum… *1: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus. *2: Rakuten Ichiba (EC) SPU (Super Point Up) Program Benefits: When paying for Rakuten Card purchases on Rakuten Ichiba (EC), earn an additional 0.3x points if the payment is debited from your Rakuten Bank account. Earn an additional 0.2x points if you receive your salary, bonus, or pension into your Rakuten Bank account the month before your purchase. *3: A preferential interest rate is applied for one month following any month in which you have a Rakuten Card direct debit from your account. Our goal is to increase the number of main accounts by further enhancing convenience and economic efficiency. Rakuten Ecosystem Open Rakuten Bank account Converting customers to high-loyalty Main accounts*1 Economic Benefit Full-fledged services Customer-centric first-class UI/UX Earn Points with Every Transaction Convenience Earn Points on Rakuten Ichiba*2 Free Transfers to Other Banks Preferential Interest Rates on Ordinary Deposits*3 Experience the Value All-in-One App
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73 Deposit Acquisition Policy Three-tier deposit structure Ordinary deposits for settlement purposes Funds used for daily payments, including direct deposits of payroll including salary, direct debits, and payments within the Rakuten Ecosystem Deposit Acquisition Strategy Strategy 2 Promote use as the main account ・ Encourage direct deposits of payroll including salary and everyday transactions (including Rakuten Card payments) to secure a stable level of deposit retention; as a result, deposit balances in main accounts are approximately 6x those in non-main accounts ・ As balances are required for transactions, provide customer incentives by offering interest through the Bonus Interest Program ・ Offer attractive term deposit rates to meet demand for principal-guaranteed management of surplus funds in ordinary accounts used for daily transactions Term deposits Savings (a principal-guaranteed, safe investment vehicle) Ordinary deposits for investment Funds used for securities investment Strategy 3 ・ Amid the inevitable shift from savings to investment following the launch of the new NISA, we aim to increase our wallet share across the Rakuten Group’s fintech ecosystem by providing highly convenient banking services, such as automated sweeping, through our integration with Rakuten Securities Offer term deposits as part of the product lineup Strategy 4 Capture investment demand for risk assets through Rakuten Securities In a positive interest rate environment, we define our deposit acquisition strategy by usage of individual deposits. Deepening the main account strategy, we promote the use of the account as a destination for term deposits and surplus funds for investment, while approaching each of the three-tiers of individual deposits to maximize total deposit balances. Surplus funds held in ordinary deposit accounts Demand for investment in risk assets Strategy 1 Acquire accounts through the Rakuten Ecosystem ・ Conduct multifaceted marketing to strengthen competitiveness by leveraging more than 70 Rakuten Group services closely integrated into daily life
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74 Strengthen Deposit Acquisition Initiatives Focusing on Individual Yen Ordinary Deposits *1: Bonus Interest Rate is an additional rate applied to one of the following: the standard interest rate on ordinary deposit s, the preferential interest rate for direct debit for Rakuten Card payments, the preferential interest rate for Money Bridge for up to JPY10mm, or the preferential interest rate for Money Bridge for over JPY10mm. For de tails, please refer to the product description (https://www.rakuten-bank.co.jp/assets/fixeddep/savings/bonus-interest.html) *2 Before tax. For details, please refer to the product description ( https://www.rakuten-bank.co.jp/assets/fixeddep/savings/) *3: For details, please refer to the product description ( https://www.rakuten-bank.co.jp/assets/fixeddep/savings/moneyblidge.html) Since July 2025, we have been offering the “Bonus Interest Rate*1” program for ordinary yen deposits, leveraging Rakuten Bank’s highly convenient services to attract ordinary deposits closely tied to daily life. The number of customers meeting the requirements for this preferential interest rate has been steadily increasing. Furthermore, we have launched a new UI/UX on our app that allows customers to easily check their applicable preferential inte rest rates and progress toward requirements. We will continue our efforts to further drive awareness of this program. (1) Deepening the use of Rakuten Bank as customers’ main account Individual ordinary deposit Individual time deposit Corporate ordinary deposit Corporate time deposit Other Individual ordinary deposits Approx 70% Breakdown of Rakuten Bank’s deposits (As of Jun. 30, 2026) Standard interest rate 0.40% p.a. *2 Up to 0.48% p.a. *2 Up to 0.74% p.a. *2 – Through the receipt of salaries, bonuses, and pension payments – Through direct debit for non-Rakuten Card payments etc.. – Through the use of the Rakuten Bank debit card etc.. (2) Cross-selling Rakuten Bank services (3) Benefits for premium Rakuten Card customers (4) Benefits for Rakuten Mobile subscribers Linkage with the Rakuten Ecosystem The maximum balance eligible for the highest preferential interest rate under the Rakuten Securities linkage program will be raised from 3 million yen to 10 million yen *3 Linkage with Money Bridge Direct Debit for payment
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75 Enhanced Bonus Interest Rate Program *1 for Yen Ordinary Deposit Accounts Effective from July 1, 2025 (Announced on June 6, 2025) ※Before Tax *1: The Bonus Rate is an additional interest rate applied on top of one of the following: the yen ordinary deposit interest rate, the preferential interest rate for Rakuten Card direct debit, the preferential interest rate for Money Bridge accounts up to JPY 10 mm, or the preferential interest rate for Money Bridge accounts exceeding JPY 10 mm. For details, please referto the product description document (https://www.rakuten-bank.co.jp/assets/fixeddep/savings/bonus- interest.html (Japanese only)) *2: For customers eligible for multiple preferential interest rates, the highest preferential interest rate will be applied. *3: For details, please refer to the product description document (https://www.rakuten-bank.co.jp/assets/fixeddep/savings/rakuten-card.html (Japanese only)). *4: For details, please refer to the product description document (https://www.rakuten-bank.co.jp/assets/fixeddep/savings/moneyblidge.html (Japanese only)). *5: For customers subscribed to Rakuten Saikyo Plan, an additional interest rate of +0.02% p.a. will be applied. For those subscribed to Rakuten Saikyo U-NEXT, an additional interest rate of +0.10% p.a. will be applied. Condition Interest Rate Per Annum For Amounts up to ¥3MM For Amounts Exceeding ¥3 MM Interest Rates for Yen Ordinary Deposits None 0.40% Preferential Interest Rate Direct Debit for Rakuten Card*2*3 +0.02% Bonus Rate Direct Debit for Rakuten Card*3（Gold Card） +0.01% － Direct Debit for Rakuten Card*3（Premium Card） +0.02% － Direct Debit for Rakuten Card*3（Black Card） +0.06% － Bonus Rate Effective From July 2025 Direct Deposit of Salary and Bonuses, Pension Payments +0.03% +0.01% Direct Debit for non-Rakuten Card （1-2） +0.01% － Direct Debit for non-Rakuten Card（3 or more） +0.01% *In addition to +0.01% for 1-2 +0.005% Debit Card Transactions（5-19） +0.01% － Debit Card Transactions（20 or more） +0.01% *In addition to +0.01% for 5-19 +0.005% Making Regular Deposits into Foreign Currency Time Deposits （10 thousand yen or more） +0.01% － International Money Transfer（1 or more） +0.01% +0.005% Registering Financial Institutions for Money Support （5 or more excluding Rakuten Bank） +0.01% － Condition For Amounts up to ¥10MM For Amounts Exceeding ¥10 MM Preferential Interest Rate Money Bridge（Linked with Rakuten Securities Account）*2*4 +0.08% +0.02% Bonus Rate Effective From April 2026 Rakuten Mobile Contract*5 (Rakuten Mobile payments are made through one of the following methods: (1) Using Rakuten Card, where the withdrawal account for Rakuten Card is set to Rakuten Bank, or (2) Via direct debit from an account at Rakuten Bank.) Max. +0.10% －
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76 Details of Benefit For Salary Receivers – JPY fixed deposits JPY 3-month fixed deposits rate＋0.25% per annum (before tax) Another ＋0.25% per annum (Total ＋0.50% per annum (before tax)) – Foreign currency term deposits JPY500 cashback for more than 1-month fixed deposit of a minimum of 10,000 currency units Another cashback of JPY500 （Total JPY1,000） – Housing loans JPY30,000 cashback to loan commission Another cashback of JPY30,000 （Total JPY60,000） Introduced a shareholder benefit program, based on which we also expect an increase in salary receiving accounts, one of the important factors toward achievement of our medium- to long-term vision. Purpose of Shareholder Benefit Program – Expressing gratitude for our shareholders’ patronage, as well as deepening shareholders’ understanding of our business through utilization of our digital banking services – Enhancing attractiveness of our share, so that more potential shareholders invest in our shares in the medium to long term Shareholders eligible for this program* – Shareholders who are listed in the shareholder registry as March 31, 2026 and own 100 shares (i.e. 1 share unit) or more – All individual accounts at all branches, excluding OKB branch and NCB branch. Implementation of Shareholder Benefit Program（Announced on February 25, 2026） Benefits example* *： Please refer to “Notice Concerning Shareholder Benefit Program (As of the end of Mar. 2026),” announced on Feb. 25, 2026, abo ut the details of the benefit program. For details on JPY fixed deposits, please refer to the product description document ( https://www.rakuten-bank.co.jp/assets/fixeddep/term/details.html (Japanese only)). etc.
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77 Started handling non-guaranteed Personal loans in April 2020 Improved Spreads on the Personal Loans Balance with external guarantees Amount required as fees and commissions expense*1, for loan guarantee expenses Non-guaranteed balance Amount required for credit costs, as an allowance for loan losses Effective yields on Personal Loanscomprise two layers. Non-guaranteed balance: yield - ratio of allowance for loan losses = (1) effective yield on non-guaranteed personal loans Balance with external guarantees: yield - loan guarantee ratio = (2) effective yield on external guaranteed personal loans As the structure is ratio of allowance for loan losses < loan guarantee ratio, the improvement in the effective yield is due to the increase in the proportion of non-guaranteed balances in the overall personal loans, resulting from the growth in new personal loan contracts *1: Loan guarantee expenses, which are included in fees and commissions expense for accounting purposes, are adjusted to inte rest expenses because they are related to interest income. Personal loan balance and mix (JPY bn) Interest Income Non-Interest Income
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78 Securitization of Rakuten Card Credit Card Receivables Utilizing the Rakuten Ecosystem Rakuten Domestic E-commerce GMS*1 (JPY tn in Last 12 months) Rakuten Card Shopping GTV*2 (JPY tn in Last 12 months) Outstanding Balance of Securitized Rakuten Card Credit Card Receivables (JPY tn, non-consolidated) *1: Gross Merchandise Sales of domestic E-commerce combining transaction amount for Rakuten Ichiba, Rakuten Travel (GTV on check out basis), Rakuten Books, Rakuten Books network, Rakuten Kobo (domestic), golf business, Rakuten Fashion, Rakuten Dream businesses, Rakuten Beauty, Rakuten Delivery, Rakuten 24 and other fir st-party daily necessities shops, auto business, Rakuma, Rakuten Rebates, Rakuten Seiyu Netsuper, cross border trading, etc. (excludes some tax -exempt businesses, includes consumption tax). Rakuten Books network, cross border trading and Rakuten Kobo (domestic) were added from Q2 CY2023. This has resulted in retroactive adjustments to domestic E -commerce GMS. *2: Gross Transaction Volume. Calculated on a managerial accounting basis. Mar. 2026 Mar. 2025 Mar. 2024 Mar. 2026 Mar. 2025 Mar. 2024 Mar. 2026 Mar. 2025 Mar. 2024 Interest Income Non-Interest Income 6.1 6.1 6.4 3 4 4 5 5 6 6 7 24年3月末 25年3月末 26年3月末 21.7 24.7 27.0 2.1 2.2 2.3
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79 Creating Investment Opportunities on Our Own through the Securitization Business that Utilizes Rakuten Trust Monetary claims To leverage Rakuten Card’s shopping GTV growth fueled by domestic e-commerce • Investment property • Commercial property • Hotel finance, etc. Real estate To utilize proprietary data and customer traffic of Rakuten Travel • Credit card receivables (Rakuten Card and other credit cards) • Accounts receivable, etc. • Solar power plants, etc. Asset securitization for various projects To provide proprietary and comprehensive securitization services Example of a Scheme (Simplified) オリジネーター Rakuten Trust (Monetary trust account) Originator Payment for the trust beneficiary rights purchased Trust beneficiary rights on target assetsTransfer of trust beneficiary rights Rakuten Trust Trust agreement Senior portion Subordinated portion Execution of a loan for the senior portion ⇒ ABL Purchase of senior beneficiary rights ⇒ Monetary claims bought Originator Monetary trust agreement* *Subordinated portion held by the originator Arranger Interest Income Non-Interest Income
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80 Promotion of AI Utilization 利益直結ではないが重要な施策 Promote company-wide AI adoption by establishing a CEO-led AI Promotion Committee and appointing dedicated leads in each department Aim to enhance profitability and operational efficiency through both top-down and bottom-up approaches External environment Rising yields and intensifying competition for customer acquisition in a positive interest rate environment Growing importance of operational efficiency amid population decline Ongoing advancement of digitalization Our strengths Vast customer data accumulated through a digital-centric business model Advanced AI infrastructure within Rakuten Group ( Personnel exchange / knowledge sharing / economies of scale ) Integration with Rakuten Ecosystem AI Promotion Committee Promotion Office Top-down approach Led by management, promote priority initiatives at the company-wide level Examples: Customer-focused AI agent; AI for contact center support Bottom-up approach Enhance company-wide AI literacy and generate use cases originating from the front lines – Develop the data infrastructure and development environment required for utilizing generative AI, while strengthening governance awareness – Review and execute initiatives led by designated leads Board of Directors Management Conference Reporting & Discussion
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81 FY2025 Results and Future Outlook for AI Utilization *1 (1) Revenue growth (2) Cost reduction • Enhance marketing efficiency through target expansion and reduce risk using predictive models Leverages AI to identify target customers in priority areas (personal loans, payroll), driving transaction growth and reducing default risk in lending • Strengthen proposal capabilities in the advertising business Improve advertising ROI through more granular customer segmentation using AI. Enhance both the quality and quantity of key customer segments in the advertising business, strengthening overall proposal capabilities • Employee support & internal FAQ AI provides instant answers based on internal policies and knowledge, reducing employees’ search burden, improving the work environment, and enabling more well- governed operations Revenue growth driven Approx. 5.4 billion yen Cost reduction effect Approx.0.4 billion yen Total profit contribution in FY2025 Approx. 5.8 billion yen*2 *1: Includes projects in PoC *2: (1) Profit from revenue growth (revenue – costs) + (2) cost reduction effects – cost required to achieve (2) • Fraud detection and risk management Use AI to detect transactions suspected of fraud up to a threshold below which they can be deemed non-suspicious based on past results, reducing the volume employees need to review • Code and document generation Reduce development and operational costs by utilizing generative AI for coding, SQL creation support, and specification document search
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82 Deep and Rich Data EC Mobile Sports FinTechCommu- nity TravelContents Data Technology to Enlarge Our Interest Income Advanced Credit Scoring – Expand credit access – Drive loan growth – Reduce credit cost Optimized Marketing – Accelerate customer acquisition – Enhance service usage – Improve customer experience Improve accuracy Improve accuracy AI Technology Interest Income Non-Interest Income
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83 Rakuten Bank’s Ability to Lead Digitalization A corporate mindset of specializing in digital and cashless No possession of legacy assets (branches/own ATMs) Utilization of state-of-the-art technology (Systems development, maintenance, and operation using internal resources) Pursuit of customer-centric UI/UX Rakuten Bank Users In-house systems development Systems staff ratio 53.5%*1 Data-driven cycle (1) Impact on earnings improvement Service creation with an in-depth understanding of customers, based on close collaboration between the front office and systems division built on in-house systems development, operation, and maintenance. Addressing corporate customers’ diverse payment needs through flexible customization of existing services (2) Impact on cost reduction Efficient business operation by going cashless and paperless Pursuit of operational improvement and efficiency through the use of AI and data *１ As of Jun. 30, 2026. Represents the ratio of the number of employees in systems- related departments to the total number of employees. Provide convenient and economically rational services Bank service needs
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84 Promising Data Monetization Opportunities TargetingRich Data Reach Precise target segmentation – AI technology – In-house system engineers – Digital native culture Sales of advertising solutions to external parties ｰData-driven personalized ads to 18.4mm accounts*1 – Approx. 32.8% of highly engaged users have main accounts *1*5 Promotion of cross use to Rakuten Bank customers – Proposing a full-fledged banking services and Rakuten Group’s FinTech services 18.4mm accounts*1 (KYC completion) Banking transaction data Personal finance data*2 100mm+ IDs*3*4 Over 70 services*4 Online/offline consumer behavior data Our unique advantages enable us to expand the advertising business and improve the marketing efficiency of our banking services *1 : As of Jun. 30, 2026. *2: Rakuten Bank has access to data related to other financial institutions through PFM (Personal Financial Management) servi ce (“Money Support”). *3: Cumulative number of Rakuten IDs where members logged in at least once after membership registration (excluding members who cancelled their membership). Includes individuals with multiple membership IDs. One ID can be used for most Rakuten services. *4: As of Mar. 31, 2026. *5: Accounts that are used for direct debit or direct deposit of payroll including salary or bonus.
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85 Corporate Clients, etc.Regional financial institution clients (regional banks) Open API*2 Other Regional Banks Entertainment Life Insurance Retail Real Estate/ Housing （Launched May 9, 2024） Transportation (“Rakuten Bank Dai-ichi Life Insurance Branch” service started in Jan. 2023) Settlement, etc. Settlement Deposits Loans, etc. Providing a New Customer Experience through BaaS*1 *1: Banking-as-a-Service. *2: Application Programming Interface. *3: As of Jul. 1, 2025. *4: As of Mar. 31, 2026. The Ogaki Kyoritsu Bank THE NISHI-NIPPON CITY BANK 6.13mm cardholders*4 16.50 mm passengers per day*3
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86 Providing JRE BANK service jointly with JR East Group * The benefits shown above are just examples. For details on other benefits and conditions, please refer to the information prov ided by the JR East Group. Connections between Customers and JR East Group Promoted by Main Account ー Benefit eligibility examples ・ Total balance of JPY3mm or more/JPY0.5mm or more ・ Direct debit for View Card payments ・ Direct deposit of salary, etc. Total Balance JPY3mm or more JPY0.5mm or more Service started on May 9, 2024. Realize a new financial service experience by providing benefits that take advantage of the assets (stations, trains, commercial facilities, etc.) and business areas (transportation, distribution and service, real estate, hotels, etc.) of the JR East Group through the BaaS initiative. Overview of Banking Agency Services Principal Bank: Rakuten Bank, Ltd. Banking Agent: VIEW CARD Co., Ltd. License Number: Kanto Local Finance Bureau (Gin-Dai) No. 475 Services Provided: Intermediation for the conclusion of contracts for the acceptance of deposits. Intermediation for the conclusion of contracts for the lending of funds (Target: Consumers; Purpose: Housing acquisition). Intermediation for the conclusion of contracts for exchange transactions. Note: VIEW CARD Co., Ltd. does not accept money or other assets from customers.
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87 3 Supplemental Information for Our Growth Strategy
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88 29% 46% 55% 80% 2020 2025 2030 Long- term Japan – Dawn of Banking Digitalization *1: As of Mar. 31, 2026. Calculated as the sum of digital banks’ deposit balances (based on the public disclosures of Rakuten Ban k, DOCOMO SMTB Net Bank, (Formerly SBI Sumishin Net Bank) , PayPay Bank, au Jibun Bank, Sony Bank, Daiwa Next Bank, ORIX Bank, GMO Aozora Net Bank, Minna Bank, and UI Bank) divided by the combined deposit balances of Japanese banks’ total deposit balance (Japanese Bankers Association), Japan Post Bank, and the digital banks. *2: Data is based on international comparison indices from the Ministry of Economy, Trade and Industry (https://www.meti.go.jp/press/2025/03/20260331006/20260331006.html (Japanese only)). SMBC 12% Mizuho Bank 11% Japan Post Bank 16% 4% Digital Bank Share*1 (deposit balance) Inexorable digitalization trend toward future “Zero-cash” era MUFG Bank 15% Cashless Payment Ratio in Japan*2 (aiming to be the global highest level) Government targets*2 … Promoted by Japanese Government … Actual Established a new target: Approximately 55% by 2030
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89 Banking in a Cashless Era Debit Cards Prepaid Card Direct Payment for code payment Rakuten Bank Card (Rakuten Card Combined with Cash Card) Service Linkage with Rakuten Card via Direct Debit Interest on ordinary deposits is more favorable than the usual rate Point rewards program Rakuten Bank balance information is displayed in the Rakuten Card app (to help prevent payment delinquencies) Email notification when funds are insufficient for direct debit etc.. The industry’s widest range of instruments for cashless payment
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90 4 About Rakuten Group
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91 Organizational Chart of Rakuten Group*1 *1: Simplified group structure effective As of Jun. 30, 2026. *2: IBF Financial Holdings Co., Ltd. and Rakuten Card Co., Ltd. hold 49% and 1% of ownership in Rakuten International Commercial Bank Co., Ltd., respectively. *3: On October 7, 2022, and November 9, 2023, as part of the strategic capital and business alliance between Rakuten Securities H oldings, Inc. and Mizuho Securities Co., Ltd., Rakuten Securities Holdings, Inc. transferred 49% of the common shares of Rakuten Securities, Inc. to Mizuho Securities Co., Ltd. *4: Following the completion of share transfer from Mizuho Financial Group, Inc. to Mizuho Bank, Ltd. on March 31, 2025, Mizuho B ank now holds 14.99% of the common shares of Rakuten Card Co., Ltd. 51%*3 100% Rakuten Edy, Inc. Rakuten Insurance Holdings Co., Ltd. Rakuten Securities, Inc. 100% 50% Rakuten International Commercial Bank Co., Ltd.*2 Rakuten Trust Co., Ltd. Rakuten Card Co., Ltd. Other domestic and overseas subsidiaries Rakuten Payment, Inc. 85.01 %*4 Rakuten Bank, Ltd. （TSE: 5838） 49.26% Rakuten Securities Holdings, Inc. 100% 100% 100% Rakuten Wallet, Inc. Rakuten Investment Management, Inc. Rakuten Mobile, Inc. 100%Insurance business Mobile business Payment business 100% Rakuten Group, Inc. (TSE: 4755) Internet Services business Trust business Taiwan subsidiary Securities business Asset Management business Cryptocurrency business Credit Card business 95.28%4.72%
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92 The History of the FinTech Segment* Within the Rakuten Group November 2003 Rakuten acquires DLJdirect SFG Securities (currently Rakuten Securities, Inc.). January 2010 Rakuten acquires bitWallet, Inc. (now Rakuten Edy, Inc.). April 2013 Rakuten Group rebrands AIRIO Life Insurance as Rakuten Life Insurance Co., Ltd. June 2005 Rakuten commences credit card payment service with Rakuten Card by acquiring Kokunai Shinpan Co., Ltd. (currently KC Card Co., Ltd.; divested in 2011). August 2018 Rakuten acquires everybody’s bitcoin Inc. (now Rakuten Wallet, Inc.) through its subsidiary, Rakuten Card Co., Ltd. September 2004 Rakuten fully acquires Aozora Card Co., Ltd. (currently known as Rakuten Card Co., Ltd.). October 2010 Rakuten fully acquires Rakuten Bank, Ltd. March 2018 Rakuten acquires Asahi Fire & Marine Insurance Co., Ltd. (now Rakuten General Insurance Co., Ltd.). *: List of major FinTech segment companies. Securities business Credit card business Banking business Life insurance business General Insurance business Electronic money business October 2016 Rakuten launches "Rakuten Pay," a Cashless Payment Services Code payment business (Life Insurance) (General Insurance)
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93 Rakuten Card: Driving the Rakuten FinTech Ecosystem with a Huge Customer Base CY2024 Q1/CY24 Q1/CY25 Q1/CY26 Q1/CY24 Q1/CY25 Q1/CY26 *：IFRS basis. As of Mar. 31, 2026. From Financial Data Sheet disclosed by Rakuten Group, Inc. on May 14, 2026
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94 *1: The interest rate for ordinary deposits is variable. Effective from Aug. 3, 2026. For ordinary deposit balances of JPY 10mm or less. For ordinary deposit balance over JPY 10mm, interest rate of 0.42% (0.334% after tax) is applied. *2: “Money Bridge” deposit balance divided by non-consolidated deposit balance As of Jun. 30, 2026. Huge Presence and Rapid Growth of Money Bridge Rakuten Securities: Achieving High Customer Loyalty through “Money Bridge” ＃of Money Bridge customers makes up 49.8%*2 of Rakuten Bank’s total deposit balance How Money Bridge Works “Money Bridge” deposit balance JPY 6. 6tn (YoY +8.0%) 6.8mm accounts (YoY +16.5%) Automatic deposit Automatic withdrawal Transaction Money Bridge contributes to Rakuten Bank’s high customer loyalty Preferential interest rate for customers: 0.48% per annum (0.382% after tax)*1
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95 Rakuten Payment: Seamlessly Connecting Online and Offline with ONE ID and ONE Point Cashless payment service (QR Code*2/barcode/touch payment *3 / Suica payment *3 /Online payment, etc.) Common point service (Customers can earn Rakuten Points at neighborhood stores) *1: IFRS basis. From Financial Data Sheet disclosed by Rakuten Group, Inc. on May 14, 2026. Combined total of Rakuten Payment, Inc. and Rakuten Edy, Inc. *2: QR Code is a registered trademark of DENSO WAVE INCORPORATED. *3：Available only on Android smartphones Q1/CY2024 Q1/CY2025 Q1/CY2026 A wide range of services available through a single app Rakuten Payment further strengthens the foundation of the Rakuten Ecosystem by serving as the online and offline touchpoints for Rakuten Group services, leveraging its high growth potential and powerful Point system. Integration with Rakuten Bank accounts Rakuten Pay direct payments from Rakuten Bank account Top-ups from a Rakuten Bank account Poikatsu (Collecting points on app )IC type electronic money Rakuten Payment Revenue*1 (JPY bn) +12.0％ YoY
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96 Rakuten Mobile: Surpassed 10 MM Subscribers, Accelerates Mutual Customer Referrals with Rakuten Bank Rakuten Mobile x Rakuten Bank Bonus Interest Rate Scheduled for launch in February 2026 (Scheduled for interest application in April 2026) Preferential Interest Rate Structure Basic interest rate (after Aug. 3 revision) 0.40% *2 p.a. Bonus Interest Rate Incremental add-on to existing program benefits Up to +0.24%*2 p.a. Initiatives to Increase Future Customer Inflows Rakuten Mobile subscribers A customer base of over 10 million lines Attractive preferential interest rates Offering high interest rates of up to 0.74% *2 p.a. Launch of banking agent operations Account opening referrals via the Rakuten Mobile website Customer inflows to Rakuten Bank Expected to accelerate further going forward × Mobile collaboration bonus *1 SAIKYO Plan subscription +0.02%*2 p.a. or SAIKYO U-NEXT Plan subscription +0.10%*2 p.a. ＋ ＋ *1: Source: Rakuten Group, Inc. disclosure materials. Total number of all Rakuten Mobile lines as of December 25, 2025. *2: Before tax. . For details, please refer to the product description (https://www.rakuten -bank.co.jp/assets/fixeddep/savings/bonus-interest.html) MVNO MNO Total no. of subscribers surpassed 10mm Rakuten Mobile, Inc. Number of Subscribers*1 Due to Rakuten Mobile's large young subscriber base, collaboration with Rakuten Mobile is crucial. Since January 19, 2026, Rakuten Mobile has begun offering banking agency services, enabling account opening via its website. Concurrently, we have introduced new benefits for mobile subscribers under our preferential interest rate program for yen ordinary deposits, the “Bonus Interest Program.”
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The opinions and forecasts stated in this document reflect the Bank's judgment at the time these materials were prepared. The Bank does not guarantee the accuracy of the information contained herein. Please note that actual performance and results may differ significantly due to various factors.