Slides
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SBI Holdings, Inc. October 31, 2025 Financial Results For the Six-month Period Ended September 30, 2025 (Fiscal Year Ending March 31, 2026) Strategic Business Innovator
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1 [Unauthorized reproduction is prohibited] Note: Fiscal Year (“FY”) ends on March 31 of the following year The items in this document are provided as information related to the financial results and the business strategy of the SBI Group companies and not as an invitation to invest in the stock or securities issued by each company. The business collaboration with SBI Shinsei Bank described in this document only takes place when SBI Shinsei Bank determines that it is in the best interests of its minority shareholders to do so through measures adopted by SBI Shinsei Bank to prevent conflicts of interest. None of the Group companies guarantee the completeness of this document in terms of information and future business strategy. The contents of this document are subject to revision or cancellation without notice.
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2 [Unauthorized reproduction is prohibited] I. 1H FY2025 Consolidated Performance Overview II. Analysis of FY2025 Consolidated Performance III. Various measures being vigorously promoted to achieve all goals of the mid- term vision
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3 [Unauthorized reproduction is prohibited] I. 1H FY2025 Consolidated Performance Overview
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4 [Unauthorized reproduction is prohibited] [Consolidated Performance Overview] • Revenue increased 33.5% year-on-year to JPY 902.6bn, profit before income tax expense rose 168.9% to JPY 212.1bn, each marking a record high for a first half • In profit before tax income expense, the Financial Services Business and the Asset Management Business maintained robust momentum, and valuation gains on multiple equity holdings in the PE Investment Business, turned the prior year’s loss before tax expense into a JPY 110.5bn profit The Crypto-asset Business recorded a loss before income tax expense of JPY 0.1bn, largely due to the impact of recording a loss (approx. JPY 2.5bn) associated with the unauthorized outflow of crypto assets owned as company assets at SBI Crypto, which operates a crypto asset mining business overseas. The loss was recorded despite the solid performance of the UK-based crypto asset market maker B2C2 and the domestic crypto asset exchange operators. In the Next Gen Business, profitability also turned positive, aided by the return to profitability of gumi, which had recorded approx. JPY 1bn in equity in losses of affiliates as an extraordinary factor in 1H FY2024 and contributions from Mynavi (Investment ratio: 20%), which joined the Group in November 2024 • Profit attributable to owners of the Company increased 270.7% year-on-year to JPY 165.8bn, marking a record high for a first half The interim dividend for FY2025 has been set to JPY 40 per share, an increase of JPY10 per share compared to the interim dividend of the previous fiscal year • With a 15% ROE target for FY 2028, the annualized ROE for 1H reached 22.5%
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5 [Unauthorized reproduction is prohibited] 1H FY2025 Consolidated Performance (IFRS) 1H FY2024 (Apr.-Sept. 2024) 1H FY2025 (Apr.-Sept. 2025) YoY % change Revenue 676,030 902,559 +33.5 Profit before income tax expense 78,872 212,104 +168.9 Profit for the period 60,003 163,252 +172.1 Profit attributable to owners of the Company 44,726 165,801 +270.7 (Unit: JPY million)[Year-on-year comparison] Record high*1 Record high*1 Record high*1 Record high*1 *1 Compared with the prior first-half results *2 In addition to SBI Shinsei Bank’s ownership ratio being 100% in 1H FY2025, the recognition of valuation losses at a consolidated fund with a high non-controlling interest ratio caused profit attributable to owners of the parent to exceed the quarterly profit *2 Annualized ROE for 1H FY2025: 22.5%
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6 [Unauthorized reproduction is prohibited] 1H FY2024 (Apr.-Sept. 2024) 1H FY2025 (Apr.-Sept. 2025) YoY % change SBI Holdings （IFRS） 44,726 165,801 +270.7 NOMURA HOLDINGS （US-GAAP） 167,325 196,643 +17.5 Daiwa Securities Group （J-GAAP） 77,785 Scheduled for disclosure on November 4 SMBC Nikko Securities （J-GAAP） 40,485 50,832 +25.6 Mitsubishi UFJ Securities Holdings （J-GAAP） 28,925 23,940 -17.2 Comparison of Interim Net Profit Attributable to Owners of the Company with Major Securities Groups Source: Compiled from financial statements published on each company's website (Unit: JPY million)
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7 [Unauthorized reproduction is prohibited] 1H FY2024 (Apr. 2024– Sept. 2024) 1H FY2025 (Apr. 2025– Sept. 2025) YoY % change 104,426 118,026 +13.0 3,209 3,458 +7.8 -8,525 110,547 ― 1,425 -147 ― -9,256 2,190 ― 1H FY2024 (Apr. 2024– Sept. 2024) 1H FY2025 (Apr. 2025– Sept. 2025) YoY % change Financial Services Business 621,683 707,392 +13.8 Asset Management Business 17,051 18,620 +9.2 PE Investment Business 12,224 141,121 +1,054.5 Crypto-asset Business 30,321 33,022 +8.9 Next Gen Business 12,287 14,330 +16.6 [Year-on-year comparison] 1H FY2025 Performance by Segment (IFRS) (Unit: JPY million) Revenue Profit Before Income Tax Expense *1 From FY2025, the accounting for valuation gains and losses on unlisted operating investment securities held by the Financial Services Business has been changed to be recognized in the PE Investment Business. Therefore, figures for FY2024 were reclassified accordingly *2 As of April 2025, the Investment Business was renamed the PE Investment Business *3 Comparison with 1H results from FY2021 onward, where results are disclosed as per current segmentation. Financial Services business has also achieved record high in comparison with 1H results since FY2012, when IFRS was adopted *4 A loss of approx. JPY 2.5bn was recorded at SBI Crypto, which operates a crypto asset mining business overseas, due to the unauthorized outflow of crypto assets owned by the company as its assets *5 Figures are before elimination of the inter-segment transactions *1 *1,2 Record high *3 Record high *3 Record high *3 Record high *3 Record high *3 Record high *3 Record high *3 *4 Record high *3
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8 [Unauthorized reproduction is prohibited] End of 2Q Year-end Full-year FY2025 JPY 40 TBD TBD FY2024 (result) JPY 30 JPY 140 JPY 170 The total amount of dividends will be approximately 30% of profit before income tax expense of the Financial Services Business excluding extraordinary factors such as gain on sales of subsidiaries’ stocks, for the time being [Basic Policy for Shareholder Return] ■ Dividend Per Share Interim Dividend Per Share was Decided at JPY 40, an Increase of JPY 10 Per Share Compared to the Interim Dividend of the Previous Fiscal Year
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9 [Unauthorized reproduction is prohibited] [Business Overview of Each Business Segment]
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10 [Unauthorized reproduction is prohibited] 1. Financial Service Business 1H FY2024 (Apr. 2024 – Sept. 2024) 1H FY2025 (Apr. 2025 – Sept. 2025) YoY (%) Banking business 62,872 73,596 +17.1 Securities business 35,896 34,092 -5.0 Insurance business 3,398 5,697 +67.7 Other 2,260 4,641 +105.4 Breakdown of Profit Before Income Tax Expense in Financial Services Business Segment (Unit: JPY million)[Financial Service Business Consolidated Results (IFRS)] 1H FY2024 (Apr. 2024 – Sept. 2024) 1H FY2025 (Apr. 2025 – Sept. 2025) YoY (%) Revenue 621,683 707,392 +13.8 Profit before income tax expense 104,426 118,026 +13.0 (Unit: JPY million) * SBI SECURITIES recorded approx. JPY 5 bn in losses related to compensation for fraudulent transactions caused by phishing scams and similar activities Record high Record high *
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11 [Unauthorized reproduction is prohibited] 1. Financial Services Business: (1) Banking Business SBI Shinsei Bank Group, SBI ARUHI, SBI SAVINGS BANK(South Korea), Solaris SE (Germany), Other overseas banks [Major constituent companies]
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12 [Unauthorized reproduction is prohibited] [JGAAP] Net profit attributable to owners of the company was approx. JPY 69.3bn (+56% YoY) due to increases in operating assets, mortgage and loan-related fees, and gains on sales of securities 1H FY2024 (Apr. 2024–Sept. 2024) 1H FY2025 (Apr. 2025–Sept. 2025) YoY change (%) 140.9 165.7 +18 58.0 79.2 +37 50.6 61.6 +22 44.3 69.3 +56 (Unit: JPY billion) Gross operating profit Ordinary business profit Profit before income tax expense Profit attributable to owners of the Company SBI Shinsei Bank 1H FY2025 Consolidated Performance 1-(1) Banking Business: SBI Shinsei Bank Note: Units are rounded down to the nearest whole number [IFRS on SBIH intake basis] 48.4 64.4 +33Profit before income tax expense
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13 [Unauthorized reproduction is prohibited] 6.3 9.9 11.5 14.6 304 316 353 387 100 200 300 400 0 2 4 6 8 10 12 14 16 18 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Mar. 2025 End of Sept. Total amount of deposits (Left) Number of accounts (Right) (JPY trillion) 16.3 403 Number of Retail Accounts and Total Deposit Balances at SBI Shinsei Bank Dec. 2021 Joined the SBI Group (10 thousand accounts) 1-(1) Banking Business: SBI Shinsei Bank
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14 [Unauthorized reproduction is prohibited] 8.1 10.3 11.4 1.8 1.8 0.5 5.2 2.1 0.6 0.5 3.6 0 2 4 6 8 10 12 14 16 18 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Mar. 2025 End of Sept. 16.1 14.3 (JPY trillion) Dec. 2021 Joined the SBI Group Note1: Includes guarantees not requiring funding (customer’s liabilities for acceptances and guarantees) and marketable securities Note 2: Rounded down to the second decimal place Retail banking (housing loans etc.) APLUS Corporate (corporations etc.) Structured finance Overseas business Marketable securities/ Other Shinsei Financial Showa Leasing Individual Business Institutional Business SBI Shinsei Bank’s Operating Assets 1-(1) Banking Business: SBI Shinsei Bank
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15 [Unauthorized reproduction is prohibited] 1. Financial Services Business: (2) Securities Business SBI SECURITIES, SBI Liquidity Market, SBI FXTRADE, SBI MONEYPLAZA, PTS operating companies, overseas securities subsidiaries, etc. • The consolidated financial results for SBI SECURITIES (J-GAAP) for 1H FY2025 achieved record highs in both operating revenue and operating income, due to a favorable market condition and the successful diversification of revenue sources that the company had been pursuing. Operating revenue totaled JPY 128.8bn (an increase of +11.3% YoY) and operating income reached JPY 38.1bn (an increase of +1.0% YoY) • Recorded total extraordinary loss of approximately JPY 8.0bn for compensation related to unauthorized access and provision of reserve for financial instruments transaction liabilities [Business highlights] [Major constituent companies]
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16 [Unauthorized reproduction is prohibited] 1H FY2024 (Apr. 2024 – Sept. 2024) 1H FY2025 (Apr. 2025 – Sept. 2025) YoY change (%) Operating Revenue 115,750 128,833 +11.3 Net Operating Revenue 103,189 110,492 +7.1 Operating Income 37,722 38,116 +1.0 Ordinary Income 37,090 41,245 +11.2 Profit Attributable to Owners of the Company 23,546 28,028 +19.0 1.(2) Securities Business: SBI SECURITIES 1H FY2025 Consolidated Results (J-GAAP) [Year-on-year comparison] (Unit: JPY million) Record high Record high Record high Record high Record high ・・・① ・・・② ① Recorded non-operating income of approximately JPY 2.7bn related to real estate silent partnerships in 1Q ② Recorded extraordinary loss of approximately JPY 5.0bn as compensation related to unauthorized access to customer accounts and approximately JPY 3.0bn for provision of reserve for financial instruments transaction liabilities
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17 [Unauthorized reproduction is prohibited] 22,848 15,110 15,159 4,806 4,038 3,535 15,889 22,613 30,354 26,359 31,881 23,548 32,169 42,092 56,222 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000 1H FY2023 1H FY2024 1H FY2025 SBI SECUIRITIES Steadily Expands its Revenue Even After the Start of the “ZERO Revolution” 12 17 (0.0%) 102,091 115,750 (11.8%) (23.6%) （18.3%) (2.7%) (31.5%) (25.8%) (15.6%) (4.7%) (22.4%) (0.0%) (36.4%) (19.5%) (3.5%) (13.1%) (0.0%) (27.5%) 15 (43.6%) 128,833 [Comparison of SBI SECURITIES’ Consolidated Operating Revenue (Net Sales) Breakdown] (JPY million) Commissions Trading revenues Other commissions Underwriting / Offering commissions / Sales commissions Financial revenues Other revenues Investment trust fees, advisory fees, bank agency business fees, management fees for margin accounts Domestic stocks (face to face transaction only after 1H FY2024), foreign stocks, futures, options *Based on J-GAAP Sept. 30, 2023 Commenced “ZERO Revolution” 1.(2) Securities Business:
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18 [Unauthorized reproduction is prohibited] 1,867 14,093 4,467 5,934 2,461 3,991 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Nomura SBI 2009 2011 2013 2015 CAGR*：13.3% 2017 2019 2021 SMBC Nikko 2023 2025 (EOM) CAGR*: 3.0 % CAGR*:1.8% 14,752 Thousand accounts 4,022 Thousand accounts End of Sept. 2025 SBI Group Boasts the Highest Number of Securities Accounts in the Industry -Progress rate toward 30 million accounts is 49.2%- <Number of Securities Accounts of the SBI Group and Major Face-to-face Securities Companies> (end of Mar. 2009 - end of Mar. 2025) Sept. 30, 2023 Start of “ZERO Revolution” May 2022 Announced that fees will be eliminated during 1H FY2023 June 2019 Announced the concept of eliminating fees for online domestic stock trading (Thousand accounts) *CAGR is calculated from end of Mar.2009 - end of Sept. 2025 5,998 Thousand accounts 1.(2) Securities Business:
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19 [Unauthorized reproduction is prohibited] SBI 57.9 (Of which SBI Neotrade1.5) Others 42.1 SBI 60.8 Others 39.2 56.6 43.4 59.9 40.1 YoY +1.3 points YoY +0.9 points <Trend in Share (quarter) of Individual Stock Trading Value*> <(of which) Trend in Share (quarter) of Individual Margin Trading Value*> (Of which SBI Neotrade1.9) Driven by the Expansion of its Customer Base, the SBI Group has Significantly Increased its Share of Individual Stock Trading Value, Reaching a Dominant Market Position Inside：1H FY2024 Outside：1H FY2025 *Calculated by dividing each company‘s individual brokerage (margin) trading value by {individual stock brokerage (margin) trading value + ETF/REIT trading value} Source: TSE statistical data and company website publicly available materials <Calculated by including ETF/REIT trading value in the total of individual stock trading value (margin) for the two markets> Inside：1H FY2024 Outside：1H FY2025 1.(2) Securities Business:
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20 [Unauthorized reproduction is prohibited] 1. Financial Services Business: (3) Insurance Business • For 1H FY2025, consolidated results for the SBI Insurance Group were driven by a steady increase in insurance policy contracts across the Group, with ordinary revenues increasing 20.7% YoY to JPY 69,211m, a record high • In line with higher revenues, ordinary profit grew 50.1% YoY to JPY 7,307m, and interim net profit attributable to owners of the company rose 38.6% to JPY 2,254m, both record highs • A new shareholder benefit program granting XRP was introduced for the purpose of enhancing the awareness and investment appeal of SBI Insurance Group shares and improving understanding of the SBI Group [Major constituent companies] SBI Insurance, SBI Life Insurance, Small-amount short-term insurance companies, LY HOUR SBI Insurance [Business highlights]
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21 [Unauthorized reproduction is prohibited] SBI Insurance Group’s Consolidated Performance (Preliminary Figures) *Final consolidated figures for 1H FY2025 to be released on November 12 Consolidated results for 1H FY2025 (J-GAAP) 1. (3) Insurance business： 1H FY2024 （Apr. 2024 – Sept. 2024） Result 1H FY2025 (Apr. 2025 – Sept. 2025) Preliminary YoY change (%) Ordinary revenue 57,362 69,211 +20.7 Ordinary profit 4,867 7,307 +50.1 Profit attributable to Owners of the Company 1,626 2,254 +38.6 (Unit: JPY million) Record high Record high Record high
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22 [Unauthorized reproduction is prohibited] SBI Insurance Group’s Total Number of In-Force Contracts CAGR (End of Mar. 2016 to end of Sept. 2025) 15.6% Sept. 2020, SBI JOGUCHI SAFETY SSI joined the Group June 2019, SBI PRISM SSI joined the GroupSept. 2016, SBI Nihon SSI joined the Group (million contracts) Sept. 2023, SBI Pet SSI joined the Group 1.00 1.61 1.73 1.87 2.08 2.33 2.46 260 2.82 2.99 3.07 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Sept. 2025 End of Apr. 2025 Surpassed 3m contracts!
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23 [Unauthorized reproduction is prohibited] 2. Asset Management Business [Asset Management Business Consolidated Results (IFRS)] [Business Highlights] 1H FY2024 （Apr. 2024 – Sept. 2024） 1H FY2025 （Apr. 2025 – Sept. 2025） YoY change （%） Revenue 17,051 18,620 +9.2 Profit before income tax expense 3,209 3,458 +7.8 • Backed by a favorable domestic stock market, the Asset Management Business achieved both revenue and profit growth in the first half of FY2025, with AUM steadily increasing at each companies • SBI Okasan Asset Management’s net asset value of publicly offered equity investment trusts increased by JPY 211.5bn YoY • From 2H onward, target revenue growth by focusing on active products including alternatives while also leveraging growth investments including M&A [Major constituent companies] SBI Global Asset Management (SBIGAM), SBI Asset Management (SBIGAM subsidiary), Wealth Advisor (SBIGAM subsidiary), SBI Okasan Asset Management (SBIGAM subsidiary), SBI RHEOS HIFUMI (Planned merger with SBIGAM) (Unit: JPY million)
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24 [Unauthorized reproduction is prohibited] Consolidated Results of SBI Global Asset Management (J-GAAP) (Unit: JPY million) 1H FY2024 (Apr. 2024 – Sept. 2024) 1H FY2025 (Apr. 2025 – Sept. 2025) YoY change (%) Revenue 5,738 7,273 +26.8 Ordinary income 1,424 1,757 +23.4 Profit attributable to Owners of the Company 900 1,052 +16.9 Record High Record High Record High 2. Asset Management Business： • For the 1H period, revenue increased for the 14th consecutive period, ordinary profit increased for the 16th consecutive period, profit attributable to owners of the company increased for the 16th consecutive period • Interim dividends (JPY 9.00 per share) have increased for the 7th consecutive period since FY2018
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25 [Unauthorized reproduction is prohibited] Investment Advisory and Information Services Financial, Economic, and Investment Education Business US, NY-based Asset Management Firm Investment Management for Qualified Investors (Formerly Morningstar Japan) Thoroughly Promote Group Reorganization to Pool All Resources toward the Early Achievement of JPY 20 Trillion in AUM Investment Education and Advisory Services Asset Management Business Low-Cost Funds Primarily Focused on Index Investing SBI Alternative Investment Management Proprietary Active Management Venture Capital Asset Management Media December 1, 2025 Active Investment Management [SBI Okasan AM] [SBI Okasan Alternative Investments] Alternative investments [Kabushiki Shinbun] [Okane no Manabiba] 2. Asset Management Business：
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26 [Unauthorized reproduction is prohibited] SBI Group’s AUM Reached to JPY 12 Trillion （JPY billion） JPY 1,014.3bn PE etc. SBI RHEOS HIFUMI JPY 1,470.1bn SBI Global Asset Management Group JPY 7,637.3bn SBI Okasan Asset Management JPY 1,979.7bn ← ← ← ← -Targeting AUM of JPY 20 trillion by the end of FY2027- 2. Asset Management Business： *1 Calculated by the exchange rate as of the end of each month *2 Amounts are rounded to the nearest JPY 100m *3 “Private equity, etc.” does not include cash or commitment amounts to be paid. Through Mar. 2017, unlisted stocks invested from investment partnerships and other entities, which had no market prices, were estimated at cost (impairment prices are applied for the stocks for which impairment losses have been recorded). After Mar. 2018, however, these stocks have been estimated at fair value *4 Figures of SBI Global Asset Management Group, SBI RHEOS HIFUMI and SBI Okasan Asset Management (“each asset management company”) represent the sum of the balance of investment trusts and investment advisory, so there are some overlapping amounts *5 Includes publicly offered investment trusts, publicly offered bond investment trusts, and privately offered investment trusts from each asset management company (EoM) 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Sept. 2025 JPY 12,101.4bn
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27 [Unauthorized reproduction is prohibited] 1H FY2024 (Apr. 2024–Sept. 2024) 1H FY2025 (Apr. 2025–Sept. 2025) YoY change (%) Revenue 12,224 141,121 +1,054.5 Profit before income tax expense -8,525 110,547 ― Profit/loss from the change in fair value and profit/loss on sales of investment securities -5,801 115,022 ― [PE Investment Business Consolidated Results (IFRS)] (Unit: JPY million) 3. PE Investment Business* [Major constituent companies/businesses] SBI Investment, SBI Shinsei Corporate Investment, SBI Regional Business Investment, Overseas PE investment companies *From April 2025, the Investment Business has been renamed to the PE Investment Business
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28 [Unauthorized reproduction is prohibited] Distribution of XRP which Ripple Partly Holds [Recent Initiatives by Ripple] ① Stablecoin RLUSD ・Market cap surged from USD 455m as of June 30 to USD 790m as of Sept. 30 (currently around USD 900m) ② Acquisitions ・Completed acquisition of prime broker Hidden Road, rebranded as “Ripple Prime” (October 24) ・Agreed to acquire Rail, a stablecoin-based payment platform (August) ・Agreed to acquire Gtreasury, a treasury management platform provider (October) [Burned] (Amount burned as transaction fees) Approx. 0.01bn XRP [XRP circulated in the market] Approx. 60.02bn XRP (Market Capitalization: approx. JPY 23.9tn) Max supply: 100bn XRP [Current Ripple’s holdings that are not in circulation] [Actual XRP] Approx. 4.97bn XRP [Under escrow] Approx. 35.0bn XRP *The quantities of various XRP holdings are as of Oct. 19, 2025, and the market value has been calculated based on XRP price as of Oct. 29 (Equivalent to approx. JPY 15.9tn) 3. PE Investment Business
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29 [Unauthorized reproduction is prohibited] EXIT Date Investee company Market May 8, 2025 Innostar Service, Inc. TPEx (OTC market) May 14, 2025 eToro Group Ltd. NASDAQ July 25, 2025 NEUROPHET Inc. KOSDAQ August 13, 2025 Axelspace Holdings Corporation TSE Growth September 30, 2025 PATEO CONNECT Technology (Shanghai) Corporation HKEX October 7, 2025 uridoki Inc. NSE Next October 16, 2025 OBOOK Holdings Inc. *2 NASDAQ October 24, 2025 Infcurion, Inc. TSE Growth IPOs and M&As of the SBI Group’s Investee Companies*1 During the fiscal year, eight companies realized stock listings *1 Investee companies from direct investments by SBI Holdings, etc., as well as those from domestic and international funds managed by SBI Investment, SBI Investment KOREA, SBI Shinsei Corporate Investment, etc. *2 OBOOK Holdings Inc. was a direct listing without offering of new shares FY2024 Results FY2025 Prospects Number of IPO・ M&A deals 20 25 3. PE Investment Business Acquired shares in Circle Internet Group, Inc. as a strategic investor upon its listing on the New York Stock Exchange on June 5
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30 [Unauthorized reproduction is prohibited] Breakdown of operating investment securities by region Balance (JPY billion) Japan 262.0 China 6.6 Korea 8.2 Southeast Asia 31.9 India 5.8 U.S. 428.2 Europe 61.9 Others 94.2 Total 898.8 Breakdown of operating investment securities by Industry Balance (JPY billion) Internet/AI/IoT 203.6 Fintech services 69.3 Digital Asset/Blockchain 416.2 Finance 56.8 Biotechnology/Health/Medical 33.5 Environmental/Energy 6.8 Machine/Automobile 20.9 Services 29.1 Retail/Food 3.0 Materials/Chemicals 3.7 Construction/Real estate 1.9 Others 5.2 Equity interests in external and non- consolidated funds 48.8 Total 898.8 Private equity, etc. JPY 1,014.3bn *1 Private equity investment balance derived from the balance for consolidated operating investment securities included in the balance from business segments without investment business, plus balance of investment from non-consolidated funds with low investment rate such as CVC fund despite involving in operation as GP etc. *2 Composed of cash in funds and unpaid capital which is to be paid on a capital call *3 Calculated by the exchange rate as of the end of Sep. 2025 *4 Amounts are rounded to the nearest JPY 100m （Excluding JPY 368.5bn of both cash and commitment amount to be paid in) Assets Under Management of the SBI Group (As of the end of Sept. 2025) Investment from non-consolidated Group management funds Balance (JPY billon) Corporate venture capital (CVC) 37.8 Others (Overseas JV fund, etc.) 77.7 Total 115.5 3. PE Investment Business (*1) (*2)
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31 [Unauthorized reproduction is prohibited] 4. Crypto-asset Business (Unit: JPY million)[Crypto-asset Business Consolidated Performance (IFRS)] [Business highlights] [Major constituent companies / business] SBI VC Trade, BITPoint Japan, B2C2, HashHub 1H FY2024 (Apr. 2024-Sept. 2024) 1H FY2025 (Apr. 2025-Sept. 2025) YoY(%) Revenue 30,321 33,022 +8.9 Profit before income tax expense 1,425 -147 ― • While the UK-based crypto asset market maker B2C2 and domestic crypto asset exchange businesses posted solid earnings, the profit before income tax expense for the first half resulted in a loss. This was due to SBI Crypto, which operates crypto asset mining business overseas, recording a loss of approximately JPY 2.5 billion following an unauthorized outflow of crypto assets held by the company • It has been confirmed that SBI VC Trade and BITPoint Japan, which operate domestic crypto asset exchange businesses, have not experienced any unauthorized outflows. Thus, It has also been confirmed that there is no impact on customers using the services of either company. Additionally, SBI Crypto plans to withdraw from their business which has been under consideration from before
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32 [Unauthorized reproduction is prohibited] 593 613 635 667 695 728 807 889 950 1,095 1,650 1,706 1,790 0 500 1,000 1,500 Sept. 2022 Dec. 2022 Mar. 2023 June 2023 Sept. 2023 Dec. 2023 Mar. 2024 June 2024 Sept. 2024 Dec. 2024 Mar. 2025 June 2025 Sept. 2025 Total deposit balance of SBI VC Trade and BITPOINT is approx. JPY 880bn *As of Oct. 20, 2025 Seeking to become Japan’s No. 1 crypto asset exchange by further increasing the number of accounts through synergies with securities and banks Trends in the Number of Customers on the Crypto Asset Exchanges (EoM) (Thousand accounts) [Sum of SBI VC Trade and BITPOINT accounts] 4. Crypto-asset Business： End of Sept. 2022- End of Sept. 2025 CAGR:+44.5%
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33 [Unauthorized reproduction is prohibited] Expanding liquidity provision to major asset management firms in Europe and the US. Expansion of domestic exchange base 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 0 20 40 60 80 100 120 140 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q *1 Compiled by SBIH from data.bitcoinity.org. Includes Coinbase, Bitfinex, Kraken, etc. Trends of B2C2 Revenue and Bitcoin (BTC) Trading Volume on Major Global Crypto Asst Exchanges B2C2, a Leading UK-based Crypto Asset Market Maker, Achieved Solid Year-on-year Revenue Growth B2C2 quarterly revenues (indexed with 1.0 for 1Q2023) (right axis) Quarterly BTC/USD trading volumes on major global crypto asset exchanges (left axis) *1 ■ ■ Expand customer base and enhance profitability FY2023 FY2024 FY2025 (SBI Group shareholding ratio: 90%) (USD billion) Dealing with more than 70% of JVCEA’s 34 Type I members (as of Sept. 2025) 4. Crypto-asset Business：
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34 [Unauthorized reproduction is prohibited] 5. Next Gen Business • gumi (which became an equity method affiliate in October 2024) has become profitable (the company recorded a one-time loss recognized under the equity method of approx. JPY 1bn in 1H FY2024) • Mynavi (which became an equity method affiliate in November 2024) contributed JPY 3.7bn to the segment’s financial results as equity in earnings of affiliates [Major constituent businesses] Biotechnology, Healthcare & Medical Informatics businesses and other businesses including Web3 [Next Gen Business Segment Consolidated Performance (IFRS)] [Business highlights] 1H FY2024 (Apr. 2024 – Sept. 2024) 1H FY2025 (Apr. 2025 – Sept. 2025) YoY change (%) Revenue 12,287 14,330 +16.6 Profit before income tax expense -9,256 2,190 ― (Unit: JPY million)
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35 [Unauthorized reproduction is prohibited] II. Analysis of FY2025 Consolidated Performance
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36 [Unauthorized reproduction is prohibited] Semiannual Changes in Consolidated Profit before Income Tax Expense Consolidated profit before income tax expense excluding extraordinary factors Consolidated profit before income tax expense 2H FY20241H FY2024 203.478.9 190.459.8 *1 *2 *1 Extraordinary gains on subsidiary liquidation recognized by SBI Shinsei Bank, gains on subsidiary sales recognized by SBI Holdings, and equity method losses in the Next Gen Businesses segment *2 Gain on negative goodwill recognized by SBI Shinsei Bank, gains on sales of shares in affiliates recognized by SBI Holdings *3 Gain on negative goodwill recognized by SBI Shinsei Bank, losses related to compensation for fraudulent transactions caused by phishing scams and similar activities incurred by SBI SECURITIES, losses due to unauthorized outflow of cryptocurrency assets held as proprietary assets incurred by SBI Crypto Extraordinary factors 13.019.1 1H FY2025 212.1 *3 -4.0 Profit before income tax expense by Segment Financial Services Business Asset Management Business PE Investment Business Crypto-asset Business Next Gen Business Elimination or Corporate 104.4 3.2 -8.5 1.4 -9.3 -12.3 92.9 2.3 103.8 19.8 -0.7 -14.5 (Unit: JPY billion) 118.0 3.5 110.5 -0.1 2.2 -22.0 216.1
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37 [Unauthorized reproduction is prohibited] Analysis of FY2025 Consolidated Performance *Estimation based on net asset value as at end of Dec. 2024. The official figure will be calculated after the completion of the share acquisition based on the net asset value as at the acquisition date, plus fair value adjustments for assets and liabilities based on purchase price allocations Gains on sales, etc., scheduled to be recorded in 2H FY2025 • Affiliate sales gains of SBI Sumishin Net Bank • Gain on negative goodwill expected to be recognized from the acquisition of the shares of Kyobo Life Insurance 141.6 30.0* 383.7 Considering the most recent 1H performance levels, Consolidated Profit before income tax expense of JPY 500bn set forth in the mid-term vision target is achievable target in FY2025 Consolidated profit before income tax expense in 1H FY2025 212.1 (Unit: JPY billion) Consolidated profit before income tax expense already expected to be recorded
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38 [Unauthorized reproduction is prohibited] Vision for the 30th Anniversary (FY2028) of Our Founding <Key Indicators of The New Medium-term Vision> (Announced on May 9, 2025) (Reference.)FY2024 (Apr. 2024 -Mar. 2025) Results Consolidated profit before income tax expense 282.3bn SBI Group’s customer base 54.42m The share of overseas businesses* in consolidated profit before income tax expense Approx. 17% ROE 12.8% FY2028 (Apr. 2028 -Mar. 2029) Targets 500.0bn 100m 30% 15% Contributions such as the gain on the sale of SBI Sumishin Net Bank (JPY 141.6bn) scheduled to be recorded in the third quarter of this fiscal year will help achieve consolidated profit before tax expense of JPY 500bn, a level attainable within the current fiscal year *Applies to overseas operations within the Financial Services Business Segment and the Crypto-asset Business Segment
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39 [Unauthorized reproduction is prohibited] Breakdown of the Customer Base (as of the end of Sept. 2025) *1,2 (Thousand) SBI SECURITIES, FOLIO, and SBI Neotrade Securities (No. of accounts) 14,752 SBI Holdings InsWeb (No. of customers) 11,490 E-Loan (No. of customers) 3,909 MoneyLook (Total no. of customer registrations) 560 Wealth Advisor (Total no. of service users) *3 1,391 SBI Insurance (Total no. of contracts) 1,347 SBI Life Insurance (Total no. of contracts) *4 674 SBI ARUHI (No. of housing loan servicing creditors) *5 288 SBI Shinsei Bank (No. of accounts) 4,034 Lake business (No. of customers) 872 APLUS (No. of active cardholders) 3,418 Showa Leasing (No. of contracts) 328 Others (SBI VC Trade, etc.) 4,743 TP Bank (No. of retail accounts) 15,585 SBI SAVINGS BANK (No. of retail accounts) 1,800 Other overseas financial services businesses 13,164 Total － 78,362 Begun Aggregating Overseas Financial Service Business’ Customers Base towards a 100 Million Customer Base and the Expansion of the Overseas Business *1 Customers who are not identified as the same person within each service website and overlapping customers among the Group companies may have been double counted *2 Owing to the reorganization, customer numbers of the Group companies, which were excluded from consolidation, are not included in the figures for the past customer bases *3 the number of smartphone app downloads, as provided by Wealth Advisor *4 The total number of contracts of SBI Life Insurance includes number of insured persons with group credit life insurance *5 Number of housing loan servicing creditors for SBI ARUHI includes one transferred from quality housing loans and its proprietary loans End of Sept. 2025 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 End of June 2025 76,469 78,362 (Thousand) Overseas financial services business’ customer base： approx. 30,550 thousand Scope of calculation up to FY2024 (Excluding SBI Sumishin Net Bank due to share transfer to NTT Docomo and including SBI ARUHI)
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40 [Unauthorized reproduction is prohibited] III. Various measures being vigorously promoted to achieve all goals of the mid-term vision 2. Expanding alliances to build a resilient and broad business foundation that enables SBI Group’s sustained high growth 1. In addition to further evolving the corporate ecosystem built by the SBI Group, create innovative and highly profitable services by promoting the “convergence” of ecosystems across each business sector and maximizing synergistic effects
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41 [Unauthorized reproduction is prohibited] (1) As the Ecosystem of each the SBI Group Business “Convergece” and Create Various Chemical Reactions, the Overall Business Ecosystem will Evolve into a More Advanced Form (2) Accelerating the evolution of the business ecosystem, centered on financial services (3) Anticipating the advent of the token economy era, promote the “convergence” of the digital asset ecosystem and the financial ecosystem (4) SBI Neomedia ecosystem provides new functions to various existing ecosystems, contributing to further expansion of the customer base 1. In addition to further evolving the corporate ecosystem built by the SBI Group, create innovative and highly profitable services by promoting the “convergence” of ecosystems across each business sector and maximizing synergistic effects (4)
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42 [Unauthorized reproduction is prohibited] (1) Creating new businesses through the evolution and integration of business ecosystems As the Ecosystem of each the SBI Group Business “Converge” and Create Various Chemical Reactions, the Overall Business Ecosystem will Evolve into a More Advanced Form Synergy Synergy Synergy Synergy Financial Services ecosystem Synergy Regional Revitalization ecosystem Neo-media ecosystem Media・IT・Finance Synergy Synergy Aseet management ecosystem PE Investment ecosystem Next Gen ecosystem Crypto Asset ecosystem
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43 [Unauthorized reproduction is prohibited] (2) Accelerating the evolution of the business ecosystem, centered on financial services ① The bank-securities collaboration between SBI Shinsei Bank and SBI SECURITIES has entered its full-scale phase ② SBI Group Mobilizing the Full Strength of the Group, Including Domestic Operating Companies, to Advance Initiatives Reached at Expanding the Contribution of Overseas Operations to Overall Performance
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44 [Unauthorized reproduction is prohibited] (i) The collaboration between SBI Shinsei Bank and SBI SECURITIES has steadily progressed, significantly contributing to the expansion of SBI Shinsei Bank's customer base (ii) SBI Shinsei Bank started offering SBI Hyper Yokin sweep account (September 23, 2025) with SBI SECURITIES, topping JPY 300 billion in deposits in just over a month (ii) The asset management product balance at “SBI Shinsei Wealth Management”, a joint branch of SBI Shinsei Bank and SBI MONEYPLAZA, have Increased steadily ① The bank-securities collaboration between SBI Shinsei Bank and SBI SECURITIES has entered its full-scale phase
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45 [Unauthorized reproduction is prohibited] Apr.2023 The real-time deposit service “SBI Shinsei Connect” has been launched 0 100,000 200,000 300,000 400,000 500,000 600,000 Oct. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. (i) The Collaboration between SBI Shinsei Bank and SBI SECURITIES has Steadily Progressed, Significantly Contributing to the Expansion of SBI Shinsei Bank’s Customer Base Oct. 2022 The simultaneous account opening service for SBI SECURITIES and SBI Shinsei Bank has started Jan. 2024 Start of New NISA The Total Number of Referrals from SBI SECURITIES to SBI Shinsei Bank （Oct. 2022 – End of Sept. 2025) 2022 Sept. 30, 2023 Start of ZERO Revolution （accounts） 2023 2024 2025 Oct. 2024 Began offering the Diamond Stage, the highest stage of the preferential treatment program, to all SBI SECURITIES account holders 634,972 1,540 (EoM)
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46 [Unauthorized reproduction is prohibited] (ii) SBI Shinsei Bank Started Offering SBI Hyper Yokin Sweep Account (September 23, 2025) with SBI SECURITIES, Topping JPY 300 Billion in Deposits in Just Over a Month By just transferring funds from an SBI Shinsei Bank savings account to an SBI Hyper Yokin account, they are automatically reflected as SBI SECURITIES funds for investment. Proceeds from sales of stocks, etc. are also automatically transferred to this account, which eliminates the need for manual deposits and withdrawals Funds on deposit at SBI Hyper Yokin earn 0.42%per year (0.3346% after tax) or twice the rate of a yen ordinary deposit account. Diamond Stage, SBI Shinsei Bank’s step-up program, is also applied, thereby eliminating fees on a set number of deposits and transfers Ordinary deposit US stocks Japanese stocks Securities Investment trusts ...etc. [At purchase] Balance automatically reflected in available funds for purchase at SBI SECURITIES Account transfer How SBI Hyper Yokin Works [Image*] SBI Hyper Yokin [At sale] Proceeds automatically reflected in bank balance [SBI SECURITIES]
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47 [Unauthorized reproduction is prohibited] 0 100 200 300 400 500 600 700 Aug. 18 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Sept. 2025 <AUM of SBI Shinsei Wealth Management> SBI Shinsei Bank and SBI MONEYPLAZA completed the establishment of a joint branch “SBI Shinsei Wealth Management” in all 22 Retail branches (excluding sub-branches) of SBI Shinsei Bank in March 2025 Providing face-to-face consulting services, such as asset management support, primarily for high-net-worth individuals at joint branches The range of products handled has expanded significantly across domestic and foreign equities and bonds, as well as fund wraps, real estate security tokens and alternative funds Launch 625.0 236.6 288.8 11 (JPY billion) (iii) The Asset Management Product Balance at “SBI Shinsei Wealth Management”, a Joint Branch of SBI Shinsei Bank and SBI MONEYPLAZA, have Increased Steadily
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48 [Unauthorized reproduction is prohibited] ②SBI Group Mobilizing the Full Strength of the Group, Including Domestic Operating Companies, to Advance Initiatives Reached at Expanding the Contribution of Overseas Operations to Overall Performance (i) Current Status of Overseas Business Expansion (ii) Overview of Performance at Group Overseas Subsidiaries (iii) Overseas Operations Accounted for Approximately 12.5% of the SBI Group’s Consolidated Profit before Tax Expense for 1H FY 2025 (iv) Held a meeting of overseas base managers to assess the current status of overseas bases and further strengthen group collaboration spanning domestic and international operations (v) Group companies both domestically and internationally are strengthening vertical integration within each business field -Targeting for Overseas Operations to Account for 30% of Consolidated Pre-Tax Profit-
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49 [Unauthorized reproduction is prohibited] (i) Current Status of Overseas Business Expansion Consolidated Subsidiaries and Equity Method Affiliates Overseas, Primarily in Southeast Asia Bank Bank Securities Insurance SBI Bank (90.74%) SBI Thai Online Securities (100%) SBI LY HOUR Bank(100.0%) SBI Royal Securities (65.29%) LY HOUR SBI Insurance (40.0%) Securities BNI SEKURITAS (25.0%) Bank SBI SAVINGS BANK (41.3%*1) TPBank (20.0%) Securities FPT Securities (23.3%) UDC Finance Limited (100%) MB Shinsei Consumer Credit Finance Limited Liability Company (49.0%) Russia Thailand Indonesia New Zealand South Korea Vietnam Cambodia *The ownership percentage of the SBI Group represents the total stake in consolidated subsidiary companies and funds, according to IFRS standards Non-bank Non-bank Latitude Group(20.91%) Non-bank Australia Kyobo Life Insurance (20.4%*2) Insurance *1 After the final transfer of shares from SBIHD to Kyobo Life Insurance *2 After completion of acquisition of Kyobo Life Insurance shares from existing shareholders *3 After completing the registration of the share acquisition with the local authorities BankSecurities Seedbox Technologies (42.28%*3 ) Securities Bank Solaris (85.89%) Philippines
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50 [Unauthorized reproduction is prohibited] Strategic Investment Targets in the Banking Sector A digital bank specializing in online-only unsecured personal loans and similar products By applying interest rates that account for the target segment's NPLs (non-performing loans), achieved the highest ROE (6.6%) among Indonesia’s digital banks and the highest ROA (5.9%) among all domestic banks (as of December 2024 results) Profit before income tax expense for the first half of the fiscal year ending December 2025 was approx. JPY 1.38bn (calculated at an exchange rate of 1 Indonesian Rupiah = JPY0.009) The digital asset bank that gained attention as the world's first legitimate financial institution capable of holding crypto assets In January 2015, it reached a valuation of USD 1bn, becoming a unicorn company Steadily acquiring new customers, and its current total customer count exceeds 2,000 Solaris SE (Became a consolidated subsidiary in February 2025, 85.89% ownership) A leading digital bank in Europe holding banking licenses in Europe Operates a platform enabling companies wishing to provide banking functions to their customers to offer banking services such as deposits and payments on a per-service basis Sygnum Bank (Invested in February 2021, 4.61% ownership) Amar Bank (Invested in October 2025, 5.6% ownership)
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51 [Unauthorized reproduction is prohibited] Performance improved due to continued expansion of interest margins from resuming the acquisition of quality assets, along with declining funding rates and a revitalized stock market The capital adequacy ratio reached a record high of 18.5% (as of Sept. 30, 2025) Received an “A (Stable)” rating from Korean credit rating agencies NICE Investors Service and Korea Ratings (awarded for fourth consecutive year) Despite lingering uncertainty over the impact of U.S. tariff policies on the Korean economy, the company strives to minimize negative effects and ensure a stable revenue base through initiatives such as introducing new products (Unit: JPY million) 1H FY2024 (Apr. 2024–Sept. 2024) 1H FY2025 (Apr. 2025–Sept. 2025) YoY change(%) IFRS 8,949 11,808 +32 Performance of SBI SAVINGS BANK (Profit Before Income Tax Expense ) (ii) Performance Overview of Major Group Overseas Subsidiaries: SBI SAVINGS BANK SBI SAVINGS BANK (Equity Ratio: 90.03%*) *As of the end of September 2025. After the final transfer of shares to Kyobo Life Insurance, the stake will be 41.3%
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52 [Unauthorized reproduction is prohibited] 0 10 20 30 40 50 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 June Sept. Dec. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Mar. Sept. Overall delinquency rate improved from 4.6% (as of Mar. 31, 2025) to 4.4% (as of September 30, 2025) due to successful loan sales and other initiatives 2013 2014 (%) 51.6％ 2022 2023 2024 20252015 2016 2017 2018 2019 2020 2021 4.4% Changes in Indicators of SBI SAVINGS BANK After Becoming a Subsidiary (K-GAAP) Delinquency rate for all loans (KRW 100 million) Total Assets KRW 14,585.4bn (Approx. JPY 1,458.5bn) Balance of performing loans KRW 10,444.1bn (Approx. JPY 1,044.4bn) Of which, balance of retail performing loans KRW 8,318.6bn (Approx. JPY 831.9bn) * Converted at KRW 1 = JPY 0.1 (ii) Performance Overview of Major Group Overseas Subsidiaries: SBI SA VINGS BANK
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53 [Unauthorized reproduction is prohibited] TPBank (20.0% ownership) Invested in the company starting in August 2009 and transitioned to an equity-method affiliate in February 2023 April 2018: Listed on the Ho Chi Minh Stock Exchange February 2021:Stocks added to the VN30 benchmark index As of the end of September 2025, the market capitalization was approximately JPY 278.8bn Profit before income tax expense for the third quarter of the fiscal year ending December 2025 was approximately JPY 33.9bn (67% of budget achieved) Positioning itself as a digital bank, it has expanded its customer base to 15.5 million accounts, primarily among younger demographics TPBank Performance Overview * VND 1 = JPY 0.0056 30.6 33.9 20 30 40 50 FY2024 Jan.-Sept. FY2025 Jan.-Sept. <Changes in profit before income tax expense under local accounting standards> （Unit: JPY billion） (ii) Performance Overview of Major Group Overseas Subsidiaries : TP Bank
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54 [Unauthorized reproduction is prohibited] SBI LY HOUR BANK (100.0% ownership) *USD 1 = JPY 148.89 Acquired a mid-sized microfinance institution in Cambodia converted to a commercial bank in March 2020 and has maintained profitable results since the fiscal year ending December 2021, its first full-year results Profit before income tax expense for the third quarter of the fiscal year ending December 2025 was approximately JPY 1.5bn (72% of budget) The company became a wholly owned subsidiary in October 2025. Going forward, it seeks to create further synergies with the SBI Group through a corporate name change (Unit: JPY billion) 1.1 1.5 0 1 2 FY2024 Jan.-Sept. FY2025 Jan.-Sept. A Russian commercial bank holding a full license. Became a wholly owned subsidiary of SBIH in August 2017 Considering the situation and environment, we will maintain our role as a financial infrastructure for customers, primarily Japanese companies, by scaling back operations and conducting business cautiously as a local financial institution Customer base and profitability have grown steadily, with profit levels for the current nine-month period already exceeding those for the full twelve months of the previous fiscal year Third Quarter of Fiscal Year Ending December 2025: Profit before income tax expense of JPY 3.5bn SBI Bank (90.74% owner ship) * RUB 1 = JPY 1.8 (Unit: JPY billion) 2.7 3.5 0 1 2 3 4 FY2024 Jan.-Sept. FY2025 Jan.-Sept. (ii) Performance Overview of Major Group Overseas Subsidiaries : SBI LY HOUR BANK and SBI Bank Performance Overview of SBI LY HOUR BANK and SBI Bank <Changes in profit before income tax expense under local accounting standards> <Changes in profit before income tax expense under local accounting standards>
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55 [Unauthorized reproduction is prohibited] * THB 1 = JPY 4.62 (65.29% ownership) * USD 1 = JPY 148.89 (Unit: JPY thousand) SBI Royal Securities The only Japanese-affiliated full-service securities firm in Cambodia, a leading firm in the industry with a track record in corporate bond underwriting and IPOs Profit before income tax expense for the third quarter of the fiscal year ending December 2025 was JPY 10.71m Despite an 18% year-on-year decline in earnings due to persistently high U.S. dollar interest rates and sluggish stock market conditions, customer base continues to expand through the accumulation of new investment projects driven by operational activities and group collaboration (Unit: JPY million) 10,710 13,100 0 5,000 10,000 15,000 FY2025 Jan.-Sept. FY2024 Jan.-Sept. SBI Thai Online Securities (100.0% ownership) -132.2 20.9 -150 -100 -50 0 50 FY2024 Apr.-Sept. FY2025 Apr.-Sept. Thailand’s first internet-only securities firm, offering stock and derivatives trading to local investors, including Japanese nationals residing in Thailand Profit before income tax expense for the first half of the fiscal year ending March 2026 was JPY 20.9m Amid uncertainty over reciprocal tariffs imposed by the U.S. and lackluster stock price performance compared to other regional countries, overall market trading volume has contracted since peaking in 2021 To offset the decline in commission income, focusing on acquiring new accounts Performance Overview of SBI Royal Securities and SBI Thai Online Securities (ii) Performance Overview of Major Group Overseas Subsidiaries : SBI Royal Securities and SBI Thai Online Securities <Changes in profit before income tax expense under local accounting standards> <Changes in profit before income tax expense under local accounting standards>
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56 [Unauthorized reproduction is prohibited] *IDR 1 = JPY 0.009 Securities company of the Bank Negara Indonesia Group Profit before income tax expense for the third quarter of the fiscal year ending December 2025 was JPY 18.7m Following the inauguration of the new president late last year, political instability led to a temporary suspension of all M&A deals involving state- owned enterprises and delays in IPO projects, hindering budget achievement Given that political developments significantly impact the economy, it is necessary to continue monitoring the new administration's actions closely (Unit: JPY million) 427 19 0 250 500 FY2024 Jan.-Sept. FY2025 Jan.-Sept. Securities firm of a major Vietnamese IT group Profit before income tax expense for the third quarter of the fiscal year ending December 2025 was JPY 496m This period’s results include valuation losses on held shares, with profit before income tax expense excluding valuation losses amounting to approximately JPY 940m Vietnam is scheduled to be upgraded from a frontier market to an emerging market in September next year, and current market trading volume is on the rise * VND 1 = JPY 0.0056 (Unit: JPY million) 578 496 0 250 500 FY2024 Jan.-June FY2025 Jan.-june (ii) Performance Overview of Major Group Overseas Subsidiaries : BNI Sekuritas and FPT Securities Performance Overview of BNI Sekuritas and FPT Securities FPT Securities (23.3% ownership) BNI Sekuritas (25.0% ownership) <Changes in profit before income tax expense under local accounting standards> <Changes in profit before income tax expense under local accounting standards>
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57 [Unauthorized reproduction is prohibited] UDC Finance Limited (100% ownership) New Zealand’s largest non-bank financial institution, fully acquired by SBI Shinsei Bank in September 2020, with its fiscal year-end changing to March starting in 2025 Specializes in auto loans for individuals, asset financing for corporations, and inventory financing for auto dealers Driven by factors such as the expansion of new partnerships, demand for financing for retail automobile sales through dealers remained robust, pushing the balance of operating assets to a new all-time high Profit before income tax expense for the first half of the fiscal year ending March 2026 was approximately JPY 4.9bn Latitude Group Holdings Limited (20.91% ownership) SBI Shinsei Bank’s strategic investment in Australia, funded in April 2021. Market capitalization as of the end of June 2025 was approximately JPY 116bn A leading company in Australian shopping credit and consumer finance, specializing in installment plans, credit cards, personal loans, and auto loans Profit before income tax expense for the first half of the fiscal year ending December 2025 was approximately JPY 9.2bn Became an equity-method affiliate in June 2025 and joined the SBI Group *AUD 1 = JPY 97.9 6.52 9.15 0 5 10 FY2024 Jan.-Sept. FY2025 Jan.-Sept. (Unit: JPY billion) (ii) Performance Overview of Major Group Overseas Subsidiaries : UDC Finance and Latitude Group Holdings Performance Overview of UDC Finance and Latitude Group Holdings 380.3 419.3 425.2 Sept. 2023 Sept. 2024 Sept. 2025 (JPY: billion) [Trends of Operating Asset Balance] *Performance is calculated from January to September of each year *For September 2025, converted at NZD 1 = JPY85 All other periods calculated at the exchange rate at the end of each period <Changes in profit before income tax expense under local accounting standards>
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58 [Unauthorized reproduction is prohibited] In May 2024, the SBI Group invested in LY HOUR Insurance, a non-life insurance company operated by Cambodia’s major conglomerate LY HOUR Group, and changed its name to LY HOUR SBI Insurance Work towards further synergy creation with SBI LY HOUR BANK Through improvements in sales methods and control of loss ratios, the third quarter of the fiscal year ending December 2025 recorded a profit before income tax expense of JPY 33.3m LY HOUR SBI Insurance Performance Overview 71 102 0 50 100 150 FY2024 Jan.-Sept. FY2025 Jan.-Sept. （Unit：JPY million） Joined the SBI Group in May 2024 (ii) Performance Overview of Major Group Overseas Subsidiaries : LY HOUR SBI Insurance LY HOUR SBI Insurance (40% ownership) *USD 1 = JPY 148.89 <Changes in Profit Before Income Tax Expense under Local Accounting Standards>
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59 [Unauthorized reproduction is prohibited] Bank Securities Insurance Other FS Asset Management Crypto-asset Domestic (iii) Overseas Operations*1 Accounted for Approximately 12.5%*2 of the SBI Group’s Consolidated Profit Before Income Tax Expense for 1H FY 2025 During the first half of this year, the proportion of overseas operations decreased relatively, partly due to the strong performance of the private equity investment business To achieve the target of 30% of the group’s consolidated profit before income tax expense of JPY 500bn set for the full fiscal year ending March 2029, pursue organic business expansion centered on banking operations while also incorporating growth through M&A Bank Securities Insurance Other FS Asset Management Crypto-asset M&A, etc, Domestic Full-Year Target for the Fiscal Year Ending March 2029 Group Consolidation ：JPY 500bn Organic：JPY90bn Profit before tax expense for the Second Quarter of the Fiscal Year ending March 2026 Group Consolidation: JPY 212.1bn +JPY 12.7bn=JPY 224.8bn Overseas： JPY 15.3bn M&A, etc.： JPY60bn Target Amount： JPY150bn *1The overseas operations within the Financial Services Business Segment, Asset Management Segment, and Crypto-asset Business Segment are subject to this policy *2 Figures including the performance of Kyobo Life Insurance, which is scheduled to be accounted for using the equity method *3 Calculated by multiplying Kyobo Life's net profit for January-June 2025 by the SBI Group's final equity ratio (20.4%) after the completion of the share acquisition Kyobo Life Insurance： JPY 12.7bn*3（5.6%） When added up : 7.2% 12.5% of Group Consolidation
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60 [Unauthorized reproduction is prohibited] (iv) Held a meeting of overseas base managers to assess the current status of overseas bases and further strengthen group collaboration spanning domestic and international operations From August 26 to 27, 2025, the SBI Group held a meeting in Tokyo bringing together 23 overseas base managers from 16 countries and regions worldwide, along with SBI Group management and the heads of overseas operations for domestic companies Conduct practical discussions directly relevant to operations, including sharing strategic and success stories at each location, fostering cross-group collaboration and integration, leveraging M&A, creating global synergies, and sharing constraints such as local regulations and legal systems In conjunction with the overseas base head’s visit to Japan, opportunities were provided to inspect and participate in events such as the Osaka-Kansai Expo and WebX Osaka, offering exposure to cutting-edge technologies including digital assets Following feedback from the meeting, establish a new regular meeting focused on banking, securities, asset management, and digital assets. This meeting will share insights and explore new business opportunities, endeavor to strengthen not only cross-border collaboration between overseas locations but also domestic and international collaboration aligned with business segments
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61 [Unauthorized reproduction is prohibited] (Korea) SBI LY HOUR BANK (Cambodia) (Vietnam)(Russia) (Thailand) (Indonesia) (Vietnam) (Cambodia) Mutual Cooperation Mutual Cooperation Collaboration Areas Within the Organization (example) Improvement of Business Operations Sharing information on local legal systems Identifying investment and financing opportunities Standardization of Utilized Systems Exchange of information regarding the site (v) Group Companies both Domestically and Internationally are Strengthening Vertical Integration within each Business Field Etc. Leveraging the networks and resources of each company, expanding collaboration both domestically and internationally while harnessing the comprehensive strength of the SBI Group [SBI SECURITIES]
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62 [Unauthorized reproduction is prohibited] (3) Promoting the “convergence” of the digital asset ecosystem and financial ecosystem, anticipating the advent of the token economy era ① SBI Group leverages the ecosystem to rapidly transition to the token economy ② The regulatory environment for digital assets is progressing globally ③ The SBI Group’s strategy for the advent of the digital economy
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63 [Unauthorized reproduction is prohibited] ① SBI Group leverages the ecosystem to rapidly transition to the token economy (i) From on-line on the Web to on-chain on the blockchain (ii) SBI Group converse the digital space ecosystem and the existing financial ecosystem, enabling rapid development and provision of digital financial products and services
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64 [Unauthorized reproduction is prohibited] (i) From On-line on the Web to On-chain on the Blockchain On-line On-chainOff-chain Record transaction results on the server Record transaction results on the blockchain Automatically process transactions on the blockchain by leveraging smart contracts A digital economic sphere, built on decentralized networks, is emerging amid the transition from Web 2.0 to Web3 and the evolution of Web3, which incorporates various concepts based on blockchain and DLT In the digital economic sphere, the concept of “on-chain,” where all transactions are completed on the blockchain, is becoming important The era of the token economy, where tokens are utilized for both transactions and settlements, is about to begin Web2.0 Web3 Evolution of Web3 digital economic sphere
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65 [Unauthorized reproduction is prohibited] (ii) SBI Group Converse the Digital Space Ecosystem and the Existing Financial Ecosystem, Enabling Rapid Development and Provision of Digital Financial Products and Services Blockchain-based trade finance solutions [Existing Financial Ecosystems] Securities Business Digital Space Ecosystem Consider crypto asset ETFs and crypto asset embedded funds NFT Related Services ST exchange Crypto Asset Trust Associations & Federations Launched crypto asset CFD service for SBI SECURITIES’ customers at the end of Aug. 2025 Tokenization of Stocks On-chain Exchange Provide liquidity for crypto assets Crypto Asset Exchange International Remittances Digital Asset Related Business Web3 Related Research Crypto Asset Lending Services using XRP and XRPL SBI Ripple Asia, a joint venture, is established Issuance of Stable Coin USDC Plans to establish a joint venture Interoperability Asset Management Business Banking Business Considering deposit token and stablecoin- related businesses, etc.
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66 [Unauthorized reproduction is prohibited] ② The regulatory environment for digital assets is progressing globally -Deregulation under Japan’s new administration is highly expected- (i) Progress is being made in the regulatory environment for digital assets in the U.S. (ii) Key issues in Japan’s crypto asset regulation (iii) New Prime Minister Takaichi has appointed Satsuki Katayama as Minister of Finance
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67 [Unauthorized reproduction is prohibited] (i) Progress is Being Made in the Regulatory Environment for Digital Assets in the U.S. Purposes ① Establishing financial system stability and consumer protection ② Prohibition of algorithmic stablecoins ③ Strengthening the supervisory authority of regulatory agencies such as the FRB (Federal Reserve Board) and the OCC (Office of the Comptroller of the Currency) ④ Strengthening anti-money laundering (AML) and sanctions compliance ⑤ Maintaining the international competitiveness of the US dollar and its status as the global reserve currency Main Contents Stablecoins will not be considered securities or commodities Placing them outside the jurisdiction of the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) Issuers will require authorization from regulatory authorities Mandates issuers to hold highly liquid assets (such as US dollars, short-term Treasuries, etc.) equivalent to the amount issued as reserves To ensure transparency, issuers are obligated to disclose their reserve asset composition monthly and undergo an annual audit Will be subject to federal laws applicable to financial institutions, including anti-money laundering (AML) regulations Enforcement Date Expected to be the earlier of: • 18 months after the enactment date (July 18, 2025) (i.e., January 18, 2027) • 120 days after regulatory authorities, such as the FRB and OCC, publish the final rules to implement the law -On July 18, the GENIUS Act was signed into law by President Trump-
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68 [Unauthorized reproduction is prohibited] (ii) Key Issues in Japan’s Crypto Asset Regulation Positioning crypto assets as financial instruments equivalent to securities, tax discrepancies should be eliminated by making it subject to separate taxation of up to 20.32%. Additionally, establishing the necessary framework for lifting the ban on crypto asset ETFs is essential The leverage limits should be amended to be reasonable, following a comparison of their properties with other assets Easing regulations on overseas-issued stablecoins (e.g., the JPY 1m transfer limit and holding restriction) is essential to promote their utilization in inter-corporate transactions There should be greater transparency in the approval process by regulatory authorities for the provision of stablecoin-related services, including lending Crypto assets are defined as “payment instruments” under the Payment Services Act, but are treated as “investment asset class” in practice Cumulative progressive tax of up to 55.95% is applied as miscellaneous income to capital gains from crypto assets Lack of clarity in the regulatory framework for crypto asset ETFs Strict leverage restrictions for retail customers, limited to a 2x maximum (down from a maximum of 25x until 2019)Prompt establishment of regulations is crucial to strengthen Japan’s international competitiveness in the digital asset field
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69 [Unauthorized reproduction is prohibited] (iii) New Prime Minister Takaichi Has Appointed Satsuki Katayama as Minister of Finance [Ms. Katayama has been deeply involved in crypto-asset regulation reform as Chairperson of the LDP’s Financial Research Commission] ◇ In June 2025, the Financial Research Commission submitted its “Recommendations 2025” to former Prime Minister Ishiba ① Recommended a review of the crypto-asset tax system, including the introduction of separate taxation ② Called for coordination among relevant industry stakeholders regarding the launch timing of crypto asset ETFs ③ Proposed follow-up measures to ensure the smooth implementation of the revised Payment Services Act concerning stablecoins ④ Emphasized the importance of establishing an environment that balances user protection and innovation to promote the sound adoption of new technologies such as blockchain -Expectations rise for the deregulation of crypto assets and stablecoins- ◇ In February 2022, the LDP’s Financial Research Commission approved a bill amending the Payment Services Act to enable stablecoin transactions ➝ This led to the revised Payment Services Act, enforced in June 2023, which defined stablecoins as “Electronic Payment Instruments” ◇ In January 2025, she attended President Trump’s inauguration ceremony and exchanged views with Mr. Atkins (the current US SEC Chairman) and others
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70 [Unauthorized reproduction is prohibited] ③ SBI Group’s strategy for the advent of the digital economy (i) Promote the Crypto-asset Business centered on Shinsei Trust & Banking, in light of the regulatory environment (ii) SBI Group seeks business expansion with two types of stablecoins: USD-Pegged and JPY-Pegged (iii) Expand involvement in the crypto asset treasury business (iv) Accelerate preparations to provide trading services for RWA (Real World Asset) tokenssuch as stocks
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71 [Unauthorized reproduction is prohibited] (i) Promote the Crypto-asset Business Centered on Shinsei Trust & Banking, in Light of the Regulatory Environment Under Japan’s current laws and regulations, potential issuers of stablecoins include banks (deposit-type), fund transfer service providers (fund-transfer-type), and trust banks/specified trust companies (trust-type), but issuance by a trust bank is essential to realistically avoid the JPY 100m restriction on transaction amounts To leverage Shinsei Trust & Banking, which is a trust bank, is a key factor for this business Function as a custodian Crypto asset Stablecoin Tokenization of RWA Function as an issuer
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72 [Unauthorized reproduction is prohibited] (ii) SBI Group Seeks Business Expansion with Two Types of Stablecoins: USD-pegged and JPY-pegged [USD-pegged stablecoin] Circle’s USDC is already approved as a stablecoin in Japan. Additionally, the company obtained a license from French authorities on July 1, 2024, making it the world’s first stablecoin issuer to be compliant with MiCA (the EU’s Markets in Crypto-Assets regulation) Ripple’s RLUSD, which is already on the NYDFS Greenlist, is currently being issued in the US. The plan is to begin listing it on SBI VC Trade as soon as it obtains approval in Japan [JPY-pegged stablecoin] SBI VC Trade and Sumitomo Mitsui Banking Corporation (SMBC) signed a basic agreement on August 22 for a joint study on the sound circulation and utilization of stablecoins. Furthermore, the SBI Group is also promoting initiatives with the partner, the Startale Group
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73 [Unauthorized reproduction is prohibited] (iii) Expand involvement in the crypto asset treasury business a. Global market environment of crypto asset treasury b. SBI VC Trade and BITPOINT provide support for trading, custody, and management to crypto asset treasury companies, etc. c. Invested in a U.S. company engaged in the XRP treasury business
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74 [Unauthorized reproduction is prohibited] a. Global Market Environment of Crypto Asset Treasury What is “Crypto Asset Treasury” ? A financial strategy in which listed companies raise funds via equity or debt issuance to acquire crypto assets like BTC, seeking to significantly increase corporate value through strategic holdings of crypto assets The stock price of US-based MicroStrategy (current Strategy), which first made a large-scale BTC purchase in August 2020, surged by 2,200% at one point. Similarly, METAPLANET, the pioneer in Japan, began purchasing BTC in April 2024, and its stock price subsequently skyrocketed by up to 3,830% at its peak Currently, the number of listed companies holding BTC exceeds 200 worldwide, with combined holdings totaling approx. 1.05m BTC (equivalent to approx. USD 116.2bn) This year, coupled with the Tokyo Stock Exchange (TSE) clarifying that it will revise the listing maintenance criteria for the Growth Market to a market capitalization of JPY 10bn or more, there has been a rapid increase in Japan of companies from other industries entering the crypto asset treasury business
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75 [Unauthorized reproduction is prohibited] b. SBI VC Trade and BITPOINT Provide Support for Trading, Custody, and Management to Crypto Asset Treasury Companies, etc. Remixpoint Def consulting Lib Work Convano METAPLANET Listed on the TSE Standard Market BTC holdings: 1st in Japan, 4th in the world Listed on the TSE Growth Market and the FSE Q-Board Listed on the TSE Growth Market Listed on the TSE Growth Market Listed on the TSE Growth Market ETH holding strategy As treasury companies are likely to conduct large-volume transactions, It is expected that the revenue base of SBI VC Trade and BITPOINT will expand Strengthening its “SBIVC for Prime” service for large-lot and corporate customers, and its “exemption service for year-end fair value evaluated taxation” boasts over 50% industry share MOBCAST HOLDINGS Listed on the TSE Growth Market SOL holding strategy
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76 [Unauthorized reproduction is prohibited] Executed an investment in a PIPE (Private Investment in equity) conducted by Evernorth Holdings Inc., a U.S. company scheduled to engage in the XRP treasury business, along with U.S. Ripple Inc. and others Financial reporting is scheduled to undergo an independent audit by a major auditing firm, ensuring high transparency and governance. Evernorth also plans to operate an XRP Ledger validator, which is expected to contribute to the growth of the entire ecosystem c. Invested in a U.S. Company Engaged in the XRP Treasury Business SBI Group Ripple Institutional investors EverNorth Scheduled to list on the U.S. NASDAQ market (Ticker symbol: XRPN) through a business combination with Armada Acquisition Corp. II, a SPAC） Invested USD 200m (approx. JPY 30.0bn) in cash Crypto asset exchanges Raised over USD 1.0bn in total through a combination of spot XRP and cash Implement active measures to increase its asset value, not just merely holding XRP Lending for institutional investors Leverage DeFi (Decentralized Finance) Chris Larsen (Co-founder of Ripple)
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77 [Unauthorized reproduction is prohibited] (iv) Accelerate preparations to provide trading services for RWA (Real World Asset) tokens such as stocks a. Establish JVs with Prominent Partner Companies b. SBI Group Becomes a Partner to Develop Applications and Services on the Arc blockchain of U.S. Circle
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78 [Unauthorized reproduction is prohibited] DigiFT (an SBI Group investee) is an on-chained digital asset exchange licensed by the Monetary Authority of Singapore (MAS) and the Hong Kong Securities and Futures Commission (SFC) Launched the world’s first on-chain stock index fund (the “DigiFT Hash Global AI Index Fund” targeting AI stocks) that allows investment and redemption using stablecoins (USDT and USDC) SBI Group has establish a joint venture with DigiFT to enable trading of Japanese assets on-chain Startale a. Establish JVs with Prominent Partner Companies DigiFT Startale is a Web3 company expanding globally, centered in Asia, with experience developing a Layer 2 blockchain jointly with major Japanese companies SBI Group has established a joint venture with Startale Group to jointly develop a trading platform that promotes the on-chaining of tokenized stocks and RWAs, operates 24/7, and enables near real-time international settlement
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79 [Unauthorized reproduction is prohibited] U.S. Circle announced the development of “Arc,” a Layer 1 blockchain designed for finance, on Aug. 12, 2025, and launched the testnet on Oct. 28 Adopting USDC for gas fees to stabilize transaction costs Providing an environment where third parties can freely build applications and services using open standards Anyone from anywhere in the world can access the platform Finalize the settlement within one second (Deterministic Finality) Implement highly programmable smart contracts capable of responding to the coercive force of law (ex: GENIUS Act) Seek to create use cases for on-chain financial services by building a mechanism to tokenize assets such as stocks and trade them using stablecoins b. SBI Group Becomes a Partner to Develop Applications and Services on the Arc blockchain of U.S. Circle [Features of Arc]
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80 [Unauthorized reproduction is prohibited] (4) SBI Neomedia ecosystem provides new functions to various existing ecosystems, contributing to further expansion of the customer base ① SBI Group is Rapidly Building a Neomedia Ecosystem Through Capital and Business Alliances and Acquisitions ② To Fully Leverage the Capabilities of the SBI Neomedia Ecosystem, we will Comprehensively Secure Key IP-related Companies and Entities End-to-End ③ Leverage Synergies Between the SBI Neomedia Ecosystem and Existing Financial and Digital Space Ecosystems to Develop and Provide New Products and Services
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81 [Unauthorized reproduction is prohibited] ① SBI Group is Rapidly Building a Neomedia Ecosystem Through Capital and Business Alliances and Acquisitions ・THE CORE (Acquired 34% of shares and made it an equity-method affiliate) ・SBI MUSIC CIRCUS (Acquired 51% of shares and made it a consolidated subsidiary) ・Brangista (Concluded a capital and business alliance and acquired 8.23% of its shares) ・CoinPost (Acquired 51% of shares and made it a consolidated subsidiary) ・BLISSOO (Cooperation) ・Company H Multiple projects are underway in each area, and in order to prioritize speed, they will initially be consolidated under SBI Holdings, with plans to later transfer them to the newly established content fund and SBI NEO MEDIA HOLDINGS Media Talent Agency Advertising agencies, Production companies, Event companies IP ・Company A ・Company B ・TWIN PLANET (Acquired 37% of shares and made it an equity-method affiliate) ・Company C ・Company D ・Company E ・Company F ・Company G
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82 [Unauthorized reproduction is prohibited] (i) SBI Group has Made THE CORE an Equity-method Associate (September 12) Game Development CG ProductionSound Design THE CORE is comprised of a world-class group of specialists in Unreal Engine, CG production, and game development, operating its business worldwide in both the film and game sectors by leveraging cutting-edge technology Focuses on creating original IPs by leveraging its advanced technical capabilities, including the TINY METAL series and Felicity's Door 34％ THE CORE THE CORE ① SBI Group is rapidly building a new media ecosystem through capital and business alliances and acquisitions
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83 [Unauthorized reproduction is prohibited] TWIN PLANET combines IP management and marketing functions to develop a diverse range of businesses that maximize IP value Management Agency ・ Personalities ・ Actors ・ Artists ・ Influencers ・ Creators Marketing Agency PR events Social media related technology Represents a varied range of talent including Atarashii Gakko! (co- managed), Nako Yabuki, Nana Suzuki, Taiyo Sugiura, and Yoshiaki & Michi Promotion and event expertise, including planning and operating Tabekko Dobutsu Land and roll-out of first overseas I'm donut ? store (ii) SBI Group has Made TWIN PLANET an Equity-method Associate (September 30) ① SBI Group is rapidly building a new media ecosystem through capital and business alliances and acquisitions 37％
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84 [Unauthorized reproduction is prohibited] ② To Fully Leverage the Capabilities of the SBI Neomedia Ecosystem, we will Comprehensively Secure Key IP-related Companies and Entities End-to-End Generating and Pursuing IP Revenue IP Value EnhancementIP Creation Publishing companies, production companies, game companies, event companies, streaming services, etc. Creator, Entertainment Agency, Publishing Company, Production Company, etc. IP Production, Advertising Agencies, Media, etc. Intellectual Property Talent Character IP Manga・Novel・ Literature IP Game IP I. SNS・Community strategy (Creating bonds with fans) II. Contents strategy (Strengthening the core of IP) III. Media mix and business development strategy (Increase touch points with IP) Video Books & publishing Game Music Stage adaption Advertisement・ tie-ups Use of space for events Commercia- lization Music IP
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85 [Unauthorized reproduction is prohibited] Synergy Synergy ③ Leverage Synergies Between the SBI Neomedia Ecosystem and Existing Financial and Digital Space Ecosystems to Develop and Provide New Products and Services SBI Neomedia Ecosystem Financial Ecosystem Digital Space Ecosystem Integration of media functions into the financial platform Promoting the tokenization of IP using STs and other technologies Integrating the Neomedia distribution platform into a comprehensive financial platform Differentiating as a true super app that seamlessly integrates financial and lifestyle information into a unified experience Create new products that simultaneously enable support and investment by tokenizing IPs centered on anime, movies, music, etc. Creating a distribution market by handling them through ODX, Japan’s only STPTS Synergy A catalyst for achieving a group customer base of 100m
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86 [Unauthorized reproduction is prohibited] (1) Further develop the “Open Alliance Strategy” that SBI SECURITIES has pursued to date, to realize initiatives that extend beyond finance (2) The evolution of SBI Group’s regional revitalization strategy through co-creation with regional economic entities (3) To expand our overseas business foundation, expand alliances in Europe, the United States, and the Middle East in addition to Southeast Asia (4) In the Digital Asset Domain, Promoting Alliance Expansion primarily through the SBI Group’s Overseas Bases toward Global Corridor Expansion (5) Various Capital Strategy to Support an Expanding Alliance Strategy 2. Expanding alliances to build a resilient and broad business foundation that enables SBI Group’s sustained high growth -Evolution of alliance strategy incorporating regional revitalization, media strategy, and overseas strategy- III. Various measures being vigorously promoted to achieve all goals of the mid-term vision
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87 [Unauthorized reproduction is prohibited] （1） Further develop the “Open Alliance Strategy” that SBI SECURITIES has pursued to date, to realize initiatives that extend beyond finance ① Further develop the “Open Alliance Strategy” that SBI SECURITIES has pursued to date, to realize initiatives that extend beyond finance ② Development of a financial super app “Comprehensive Financial Platform” to advance the “open alliance strategy” into a new phase ③ In the Asset Management Business, thoroughly pursuing alliances with powerful companies, etc., in an endeavor to provide a variety of investment products incorporating cutting- edge trends for domestic investors
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88 [Unauthorized reproduction is prohibited] Under Its “Open Alliance Strategy,” the SBI Group Has Built Partnerships With Various Leading Domestic Companies Capital and business alliance starting May 2025 NTT DOCOMO mobile phone subscriptions: Approximately 91.59m Comprehensive Capital and Business Alliance since June 2022 Number of Accounts: 29m individuals, 1m corporations Credit Card Members: Approximately 39m Starting in July 2025, SBI SECURITIES and auFG will begin exploring a business alliance in the retail sector. Number of au Jibun Bank accounts: Approximately 6.89m Promoting the deepening and expansion of alliances, primarily in the securities sector ［Dai-ichi Life Holdings, Inc.］ ［Nippon Life Insurance Company］
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89 [Unauthorized reproduction is prohibited] ① Further develop the “Open Alliance Strategy” that SBI SECURITIES has pursued to date, to realize initiatives that extend beyond finance (i) Further strengthening the partnership between SMBC Group’s Olive to provide comprehensive asset management support for customers of both groups (ii) Vigorously advancing new initiatives in fields beyond finance alongside the two major telecommunications groups, NTT Group and KDDI Group
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90 [Unauthorized reproduction is prohibited] (i) Further strengthening the partnership between SMBC Group’s Olive to provide comprehensive asset management support for customers of both groups
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91 [Unauthorized reproduction is prohibited] 1,566 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. 2022 2023 2024 2025 91.1 1,648 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 0 10 20 30 40 50 60 70 80 90 100 Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. 2022 2023 2024 2025 Set accumulation amount (Left axis) Number of set accumulation accounts (Right axis) (Billion yen) （Thousand accounts） The Collaboration Between SBI SECURITIES and the SMBC Group has Significantly Contributed to the Expansion of SBI SECUITIES’ Number of Accounts and Service Users CAGR (End of Mar. 2022- Sept. 2025) 123.6% Number of Set accumulation accounts YoY +13.3% Set accumulation amount YoY +12.9% (EOM) （Thousand accounts） Financial Intermediary Accounts with the SMBC Group (Sumitomo Mitsui Bank, Sumitomo Mitsui Credit Card) at SBI SECURITIES Sumitomo Mitsui Card’s Set Accumulation Amount and Number of Accounts *Based on the set amount and not the actual purchased amount (EOM)
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92 [Unauthorized reproduction is prohibited] SBI Group and SMBC Group have Established a Joint Venture Company, Olive Consulting Co., Ltd., which Provides Asset Management Consulting Services Olive Consulting Co., Ltd. “Flexible Consulting,” the manned consulting service provided through Olive Consulting, is scheduled to launch next spring • Flexible and diverse ways to get advice such as 24/7 AI chat support, phone and video calls, and in-person consultations at Olive LOUNGE • Customers can choose an advisor who matches their needs based on the advisors’ skills and areas of expertise (Establish Aug. 2025) Integrate various products and services offered by the SBI Group (E.g. Robo- advisors, tax and business succession planning, health consultations, art pieces, etc.) into Olive in the future, thereby strengthening SBI SECURITIES’ approach to the “digital affluent*” as defined by the SMBC Group *Affluent individuals with assets worth tens of millions of yen who are accustomed to digital transactions • Manned consulting service • Digital service with added value • Financial products and services • Trading infrastructure and tools [SBI SECURITIES]
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93 [Unauthorized reproduction is prohibited] a. Examples of initiatives with the NTT Group b. Examples of initiatives with the KDDI Group (ii) Vigorously advancing new initiatives in fields beyond finance alongside the two major telecommunications groups, NTT Group and KDDI Group
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94 [Unauthorized reproduction is prohibited] ■Contents of business alliance *As of end of June 2025 SBI Sumishin Net Bank *2 *1 ■Example of collaboration initiatives ① Earn points when opening accounts or purchasing products ② Use d POINTs to buy stocks and mutual funds ③ Use d Card for regular investment fund purchases SBI SECURITIES Expands Its Alliance With NTT DOCOMO and SBI Sumishin Net Bank, and au Financial Group Under KDDI Endeavor to collaborate across a wide range of business areas, not limited to financial product intermediary services Approx. 6,890 thousand accounts[au Jibun Bank] 10.32mNumber of active members of au PAY Card and au PAY Gold Card*2 As of end of June 2025*1 As of end of March 2025 [SBI SECURITIES] [au Financial Group][SBI SECURITIES] [SBI Sumishin Net Bank] NTT DOCOMO Number of phone contracts Approx. 91.59m Approx. 8.46m accounts ① Real-time deposits to SBI SECURITIES accounts can be made from au Jibun Bank accounts ② Opening of SBI SECURITIES account via au Jibun Bank’s website (financial product intermediary services) ③ Preferred interest rates for ordinary yen deposits to customers using real- time bank transfers
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95 [Unauthorized reproduction is prohibited] Office building, shopping mall, hotel, house, etc. Logistic facilitiesData center Real Estate IP Fund Creation and sales of STs Secondary market for STs [Image of cooperation] Venture investment Energy Character Creation of Security Tokens (STs) from Assets Held by the NTT Group Consider converting NTT Group’s wide range of assets into STs and offering them to the SBI Group customers a. Examples of initiatives with NTT Group [SBI SECURITIES]
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96 [Unauthorized reproduction is prohibited] Real Estate ST Stock/Stock ST Bond ST Art ST Japanese SakeST ・・・ ・・・ Trading participants Securities/tokens Blockchain Transactions are recorded simultaneously with settlement The processing of a large volume of tokenized products can be executed instantly (T+0) PTS & Token Exchange [Conceptual Image of a Token Exchange Utilizing IOWN®] As the tokenization of various assets advances, the number of transactions will grow exponentially a. Examples of initiatives with NTT Group Realize a PTS and Token Exchange Leveraging IOWN® Developed By the NTT Group What is IOWN® （Innovative Optical and Wireless Network） A next-generation communication and computing infrastructure centered on optical technology . By replacing conventional electrical signals with light, it is expected to achieve low power consumption (100 times more power-efficient), large capacity (125 times greater transmission capacity), and low latency (network communication delays reduced to 1/200) NTT DATA, “What Makes IOWN Remarkable? An Easy-to-Understand Explanation of Its Technical Elements and Use Cases.” Trading system utilizing IOWN®
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97 [Unauthorized reproduction is prohibited] IOWN WG SBI Group and NTT Group to establish an IOWN Working Group Share investment target information Investment in cutting-edge startups in the field of photonics-electronics converge SBI and NTT establish an IOWN Working Group (WG). Members from both groups will hold regular discussions SBI Investment and NTT DOCOMO Ventures will promote startup investments and conduct some joint investments By linking investment activities with the working group and sharing insights and information, accelerating the societal implementation of IOWN® technology [SBI SECURITIES] a. Examples of initiatives with NTT Group
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98 [Unauthorized reproduction is prohibited] IOWN 2.0 (Board to Board) IOWN 4.0 (Die to Die) IOWN 3.0 (Chip to Chip) Board Connection Devices Chip Connection Devices Die to Die NLM Photonics Graphenory Tenstorrent (Partnership with Japan’s Unsung Fields) Ayar Labs Lightmatter EdgeQ EdgeCortix CogniFiber Lightelligence Company in the U.S. New materials and other fields contributing to the performance improvement of optical switches and electro- optic (EO) devices Distributed Datacenters O-Ran/AI-RAN Disaggregated Computing Enhanced redundancy, flexible resource utilization The intelligent transformation of flexible wireless communication infrastructure contributes to resource optimization Optimizing computational resources by maximizing the benefits of photonics- electrics converge The field of photonics- electrics converge devices such as CPOs and optical interposers Fields contributing to enhanced computational power and reduced power consumption, such as optical computers and optical accelerators =Invested in by SBI =Invested in by NTT =Consideration of investmentS N S N S S S N K K K K K K K SBI Group Actively Invests in Venture Companies That Possess Elemental Technologies and Use Cases Related to IOWN® 2025 2029 2030 a. Examples of initiatives with NTT Group
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99 [Unauthorized reproduction is prohibited] (Joint venture between KDDI and Mitsui & Co.) Utilization of the Digital BPO Service “Altius ONE” Provided by Altius Link (a Joint Venture between KDDI and Mitsui & Co.) in the Call Center Operations of SBI Group Companies SBI Insurance has introduced Altius Link’s digital BPO service “Altius ONE for Support” to enhance customer experience (CX) at its automobile accident reception center, and has jointly commenced a proof-of-concept utilizing generative AI Improving operational efficiency by automatically summarizing customer-operator conversations Plan to introduce this system to the call centers of SBI Group companies going forward to increase customer satisfaction through improved response rates, enhanced service quality, and product and service improvements Analyze interaction histories, quantify and visualize service quality, and uncover customers’ latent needs a. Examples of initiatives with KDDI Group
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100 [Unauthorized reproduction is prohibited] ② Development of a financial super app “Comprehensive Financial Platform” to advance the “open alliance strategy” into a new phase
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101 [Unauthorized reproduction is prohibited] SBI Holdings and SBI Shinsei Bank have jointly established ”SBI Neo Financial Platform” 95% 5% SBI Group possesses all financial functions within its group, with the internet as main channels, including SBI SECURITIES, Japan’s largest online securities firm, and SBI Shinsei Bank, a full-service bank offering both retail and corporate banking services The company will launch a new financial super app, the “Comprehensive Financial Platform”, to consolidate the diverse financial functions of SBI Group into a single platform through the use of APIs and other technologies, and provide these functions to partner businesses Create a new financial model called “FPaaS (Financial Platform as a Service)” that enables the provision of all the financial functions a partner requires at once
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102 [Unauthorized reproduction is prohibited] Through the Financial Super App, Group Companies can Acquire Partners Beyond Their Business Domains and Gain Access to the Customer Bases Held by Those Partners SBI Group’s financial funciton Partners× Comprehensive Financial Platform × ●●● API Send customers App provision (Development and Operation) On Oct. 31, 2025, SBIHD entered into a basic agreement with Chubu Electric Power Miraiz Co., Inc. to develop new services utilizing the “Comprehensive Financial Platform” Regional financial institutions Etc. 【Image of FPaaS business】 Marketing (JAL SBI Fintech) Expanding gradually [Chubu Electric Power Miraiz] [SBI SECURITIES] [SBI Life Insurance/ SBI Insurance] [SBI FXTRADE]
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103 [Unauthorized reproduction is prohibited] ③ In the Asset Management Business, thoroughly pursuing alliances with powerful companies, etc., in an endeavor to provide a variety of investment products incorporating cutting-edge trends for domestic investors (i) Establishing joint ventures and other alliances with various major overseas asset management firms (ii) Initiatives in alternative investment, which is a focus area for the future, are making steady progress (iii) To Achieve SBI Group’s JPY 20 Trillion in AUM (FY2027 Target), Targeting Not Only Organic Growth but Also Growth Through M&A
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104 [Unauthorized reproduction is prohibited] (i) Establishing joint ventures and other alliances with various major overseas asset management firms
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105 [Unauthorized reproduction is prohibited] Japan is Considered an Attractive Market for Global Investors, With an Extremely High Ratio of Cash and Deposits in Household Financial Assets Japan has an enormous amount of household financial assets totaling JPY 2,239tn (as of June 30, 2025) Amidst rising momentum for a shift “from saving to investing” with the launch of the new NISA, the Japanese market, where “cash and deposits” still account for over 50% of household financial assets, is attracting the interest of money managers worldwide ■International Comparison of Household Financial Asset Composition■ Region Household Financial Assets Cash and Deposits Ratio Japan 2,239 50.3% United States 19,178 11.5% Euro Area 5,863 31.8% United Kingdom 1,328 34.4% Singapore 229 34.2% *Sources: Bank of Japan "Flow of Funds Accounts for the Second Quarter of 2025 (Preliminary)," "Comparison of Flow of Funds Accounts for Japan, the U.S. and Europe," UK Office for National Statistics, Singapore Department of Statistics *Data for Japan, the UK, and Singapore are as of June 30, 2025, and data for the U.S. and the Euro Area are as of Mar. 31, 2025 *All foreign currencies are converted to Japanese yen (JPY) using the closing exchange rates as of the end of Sept. 2025: JPY 148.9/USD, JPY 174.5/EUR, JPY 199.9/GBP, and JPY 115.3/SGD (JPY trillion)
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106 [Unauthorized reproduction is prohibited] SBI Group, which has an Overwhelming Customer Base in Japan, is Expanding its Alliances with Various Major Overseas Asset Management Companies A world-class asset management company with strengths in active bond management Partnership with the SBI Group since Dec. 2015 A major U.K. asset management company with strengths in alternative investments Partnership with the SBI Group since July 2023 Established the joint venture SBI-Man Asset Management A world-leading comprehensive asset management company with strengths in private equity investments and other areas Partnership with the SBI Group since Sept. 2023 Established a joint equity company A comprehensive asset management company boasting a 77-year history and track record in asset management Partnership with the SBI Group since July 2024 Agree to establish a joint equity company Considering a new alliance with a leading U.S. company
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107 [Unauthorized reproduction is prohibited] (ii) Initiatives in alternative investment, which is a focus area for the future, are making steady progress
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108 [Unauthorized reproduction is prohibited] 2023 2029 (forecast) Others (Infrastructure, Real estate, etc.) Hedge funds Private debt Private equity Source：PREQIN 「The Future of Alternatives」 The Global Market for Private Assets (Alternative Assets) Is Expected to Expand Significantly Private assets 5.0% 16.8 29.2 （%） Market capitalization ratio of investable assets (as of the end of Oct. 2024) Alternatives AUM Global fixed income ex. US US treasuries US corporate bonds Others US equity Developed market equity ex. US Emerging market equity (USD trillion)
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109 [Unauthorized reproduction is prohibited] ｃ Alternative StrategyAlternative assets Digital Assets ✓Trend-Following Strategy ✓Long/Short Strategy ✓Private Debt ✓ Private Equity ✓ Cryptocurrency- Incorporated Fund ✓Security Token ✓ Real Estate, Infrastructure ✓Private credit for the middle market Establish Joint Venture Companies with Leading Overseas Companies to Offer Diverse Alternative Investment Products Under the concept of “democratizing alternative investments,” seeks to offer full-fledged alternative funds—which traditionally tend to have high trust fees—at low cost
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110 [Unauthorized reproduction is prohibited] Launch of Private Credit Strategy Fund the “SBI Alternative High- Income Select Fund” (Quarterly Dividend Type). Constructed from Investment Products by Major Global Providers of Alternatives Liquidity: Relatively hard to buy & sell Fees: Management fees quite high High minimums (JPY 5mn or higher) Special expertise required: Hard to valuate Can start or cancel monthly Lowest fees among funds in its category Can invest starting at JPY 10,000 Targets investments by five major global alternatives providers led by KKR Restrictions on “Alternatives” Eliminated Diversified investments among providers with strong track records Able to invest in private credit such as non-public loans Bank loan Private Credit Convertible Bonds and Hybrid Securities EU and U.S., Public High Yield
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111 [Unauthorized reproduction is prohibited] Targeting “Gold” and Other Commodities, “SBI iShares Gold Fund” (Hedged/Unhedged) Tops JPY 200 Billion in Net Assets -Inflow of Funds as Fiscal and Monetary Fears Grow at Major Countries- 0 100 200 6/8 2023 SBI iShares Gold Fund (Unhedged） SBI iShares Gold Fund (Hedged） JPY 205.9bn 10/24 2025 Net Assets Inception date of June 8, 2023. Actual expense ratio (annual, tax included) including trust fees of 0.1838% is the lowest among funds targeting commodity investments including gold In addition to serving as a hedge against inflation and geopolitical risk, gold is climbing in price as demand arises from USD and national uncertainty in the U.S. Fund achieved a total return of 49.49% over the past year, with a Sharpe ratio of 2.49 demonstrating its high risk-adjusted return characteristics.
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112 [Unauthorized reproduction is prohibited] 10,514 10,292 9,000 9,500 10,000 10,500 11,000 11,500 12,000 12,500 9/17 10/1 “SBI Next-Generation Technology Strategy Fund” Offered by SBI Asset Management has been Progressing Steadily since Its Inception Established for Sept.17, 2025. Targets investment in innovative technology fields shaping future society, such as Web3, quantum computing, and nuclear fusion Review themes according to technological advancements and market trends, and flexibly expand investments into high-potential fields The trust fee is 0.99% per annum (including tax). This represents the lowest cost level available for actively managed domestic and international equity funds with technology as a theme (JPY) (Note) From Sept. 17, 2025 (fund establishment date) at JPY 10,000 to Oct. 8, S&P 500 and FANG+ are converted to yen Composition by Sector Source: Compiled by SBIAM from Bloomberg data Data period: Sept. 17 to Oct. 14, 2025 *According to Wealth Advisor research SBI Next-Generation Technology Strategy Fund S&P500 FANG+ NAV Trend (Sept. 17 to Oct. 8, 2025) 10/8 12,054 Energy, including nuclear fusion Quantum computer Web3-related
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113 [Unauthorized reproduction is prohibited] AUM of SBI Okasan Asset Management’s “US Dollar Money Market Fund” Surpasses JPY 70 BIllion in Just 10 Months Since Inception Established on Dec. 3, 2024. SBI SECURITIES as the selling company Primarily invests in high-rated U.S. dollar-denominated short-term financial instruments to preserve principal (U.S. dollar-based) and liquidity while pursuing stable returns aligned with short-term money market interest rates (Note) The yield represents the annualized yield (before taxes) based on the most recent 7-day performance period (calculation period: Oct. 18–24, 2025) 0 100 200 300 400 500 600 700 Asset Under Management (Dec. 3, 2024 to Oct. 24, 2025) 10/24 724 (JPY bn) MMF Management Company Yield (%) SBI Okasan AM 3.7646 BlackRock 3.6980 Goldman Sachs 3.6720 Nomura Global 3.4420 Nikko 3.4670
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114 [Unauthorized reproduction is prohibited] (iii) To Achieve SBI Group’s JPY 20 Trillion in AUM (FY2027 Target), Targeting Not Only Organic Growth but Also Growth Through M&A 0 50,000 100,000 150,000 200,000 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Sept. 2025 Mar. 2027 Mar. 2028 (JPY 100m) *1 Calculated by the exchange rate as of the end of each month *2 Amounts are rounded to the nearest JPY 100m *3 “Private equity, etc.” does not include cash or commitment amounts to be paid. Through Mar. 2017, unlisted stocks invested from investment partnerships and other entities, which had no market prices, were estimated at cost (impairment prices are applied for the stocks for which impairment losses have been recorded). After Mar. 2018, however, these stocks have been estimated at fair value *4 Figures of SBI Global Asset Management Group, SBI RHEOS HIFUMI and SBI Okasan Asset Management (“each asset management company”) represent the sum of the balance of investment trusts and investment advisory, so there are some overlapping amounts *5 Includes publicly offered investment trusts, publicly offered bond investment trusts, and privately offered investment trusts from each asset management company SBI Global Asset Management Group SBI RHEOS HIFUMI SBI Okasan AMJune 2020 Rheos Capital Works becomes a consolidated subsidiary Nov. 2022 SBI Okasan Asset Management becomes a consolidated subsidiary Promising projects are currently under consideration both in Japan and overseas 200,000* 142,000* * Disclosure by SBI Global Asset Management ・・・ PE etc. 121,014 (EOM)
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115 [Unauthorized reproduction is prohibited] (2) The evolution of SBI Group’s regional revitalization strategy through co-creation with regional economic entities ① Steadily deepening the collaborative relationship between SBI Group and regional financial institutions through the “Fourth Megabank concept” being promoted by the entire Group, with SBI Shinsei Bank as the core ② Accelerating regional revitalization strategies through expanding alliances in the Neo-media area
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116 [Unauthorized reproduction is prohibited] ① Steadily deepening the collaborative relationship between SBI Group and regional financial institutions through the “Fourth Megabank concept” being promoted by the entire Group, with SBI Shinsei Bank as the core (i) SBI Shinsei Bank has significantly increased its operational flexibility as a result of full repayment of public funds (ii) Accelerate the “Fourth Megabank Concept” by taking the relisting as an opportunity, and thoroughly advance the expansion of alliances with regional financial institutions
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117 [Unauthorized reproduction is prohibited] (i) SBI Shinsei Bank has Significantly Increased its Operational Flexibility as a result of Full Repayment of Public Funds On July 31, 2025, SBIHD purchased all preferred stock held by the Deposit Insurance Corporation and the Resolution and Collection Corporation at an amount equivalent to the outstanding recoverable balance (total JPY 230bn), thereby fully repaying the public funds of SBI Shinsei Bank (Example) Introduction of performance-based compensation systems and stock option programs for executives and employees With the removal of constraints imposed by the business restructuring plan, promoting improvement initiatives across various areas, primarily focusing on personnel strategy and capital policy
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118 [Unauthorized reproduction is prohibited] (ii) Accelerate the “Fourth Megabank Concept” by taking the relisting as an opportunity, and thoroughly advance the expansion of alliances with regional financial institutions
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119 [Unauthorized reproduction is prohibited] SBI Holdings and The Tohoku Bank Conclude “Strategic Capital and Business Alliance Agreement” on August 21, 2025 The Tohoku Bank customers to be offered a wide range of financial products and services from the SBI Group through financial product intermediary services with SBI SECURITIES and operation of joint branches with SBI MONEYPLAZA Entrusting certain managed assets to the SBI Group to enhance The Tohoku Bank’s profitability by diversifying and raising the sophistication of securities management DX support to facilitate local companies’ business development and improvement by providing cutting-edge technology and know- how from SBI Group investee companies [Main Details of Alliance (Including Items for Future Consideration)] -SBI Group’s Capital and Business Alliances Expand to 10 Banks-
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120 [Unauthorized reproduction is prohibited] Promote Initiatives with Strategic Capital and Business Alliance Banks Going Forward, with Varying Degrees of Intensity based on Factors such as Investment Ratios and the Progress of Alliances (Note) Figures in parentheses indicate the timing of the capital and business alliance announcement and SBI Group's voting rights ownership ratio as of the end of Mar. 2025 -The primary focus of the criteria is whether sufficient collaborative relationships can be established-
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121 [Unauthorized reproduction is prohibited] SBI Shinsei Bank’s Efforts as a Platform Provider for Regional Financial Institutions are Steadily Yielding Tangible Results (Results for 1H FY2025) [Distribution] Syndication sales reach JPY 252.2bn driven by loan receivables for corporations Sustainable finance constitutes JPY 214.7bn, and sales to regional financial institutions also show steady growth [Syndicated Loans] The Akita Bank: Executed co-financing for development project next to Akita Station The Joyo Bank: Participating in a loan for a chemicals manufacturing in Ibaraki Prefecture [Personnel Exchange] Received 49 trainees from 28 regional financial institutions since 2022 with a focus on structured financed departments Collaborating with The Chugoku Bank on a hotel development fund for building out lodging facilities in response to growing demand from foreign visitors Assignment of accounts receivable to regional bank-affiliated leasing companies: 24 companies, JPY 11.4bn (first half of fiscal year ending March 2026) (Number of regional bank-affiliated leasing companies among 80 clients: 62)
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122 [Unauthorized reproduction is prohibited] A Cloud-based Accounting System for Regional Financial Institutions Jointly Developed by SBI Group and Future Architect, Inc. has been adopted by Kiriyaka Bank and THE SENDAI BANK under Jimoto Holdings, as well as THE TOWA BANK Powerful support for drastic self improvement and self-evolution through reduction of system cost burdens and streamlining of OTC operations, etc. - Starting with Fukushima Bank and The Shimane Bank, which have already adopted, the number of adopting banks has expanded to five - [Positive effects of Introduction at The Fukushima Bank (adopted on July, 2024)] • Reduction of 50% of workload for certain clerical work • Product development period reduced to about one-sixth (from six to one month) of the previous system [Features of next-generation banking system] All back-end programs can connect to any system via API, enabling new or additional functional development and maintenance at low cost and in a short timeframe FIDO-compliant two-factor authentication (biometric authentication and device retention authentication) for personal and corporate Internet banking and banking applications Utilizes the SBI Financial Cloud built on Amazon Web Services (AWS), achieving optimized cost impact and high scalability System costs are shifted from fixed to variable through an annual fee model
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123 [Unauthorized reproduction is prohibited] SBI Group Companies Collaborative Content Total number of connections SBI SECURITIES Implementing or planning partnerships with regional financial institutions and others in the financial product intermediary business 52 SBI MONEYPLAZA Implementing joint store operations with regional banks to provide one-stop access to securities-related products handled by SBI MONEY PLAZA 14 banks, 20 shops SBI Shinsei Bank Collaboration in regional financial institutions’ participation in financing projects organized by SBI Shinsei Bank and in joint financing for local companies 94 SBI ARUHI Collaborative development of mortgage products with regional financial institutions, mutual customer referrals for Flat 35 through SBI ARUHI, and provision of the real estate lease-back service “Zutto Sumairu” through subsidiary SBI Smile 18 SBI Life Insurance Regional financial institutions and others begin or decide to sell SBI Life's group credit life insurance 124 SBI Insurance Regional financial institutions and others have decided to adopt SBI Insurance's insurance products and will begin offering them as needed 26 SBI Neo Banking System Regional financial institutions adopt white-label banking apps provided by SBI Neo Banking System 17 SBI Group companies have already built partnerships with numerous regional financial institutions across various fields① (End of September 2025)
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124 [Unauthorized reproduction is prohibited] SBI Group Companies Collaborative Content Total number of connections SBI Business Solutions Regional financial institutions and others have entered into agreements to introduce the back-office cloud services “Expense BANK,” “Invoice QUICK,” and “Approval TIME” to their clients, as well as to provide the “Grant and Subsidy Diagnostic Navigator” and “Digital Laws & Sample Documents. 38 Regional Financial Institutions Join the “Invoice QUICK” Partner Program 22 SBI Remit Regional financial institutions and others handle the international money transfer service provided by SBI Remit 24 Financial institutions connect to next-generation financial infrastructure “MoneyTap” 14 Wealth Advisor Regional financial institutions adopt the tablet app “Wealth Advisor” provided by Wealth Advisor, a subsidiary of SBI Global Asset Management 157 SBI Asset Management Management of private placement investment trusts for regional financial institutions' proprietary fund management Approx. JPY 2.6837tn SBI Investment Regional financial institutions invest in venture capital funds currently managed by SBI Investment 81 SBI Regional Business Investment Regional financial institutions invest in SBI Business Succession Fund. Supports mid- sized and small businesses forced to close due to lack of successors by leveraging SBI Group's financial resources, human capital, and cross-regional network 17 SBI Shinsei Corporate Investment Regional financial institutions invest in business succession funds and venture capital funds managed by SBI Shinsei Corporate Investment 14 SBI Group companies have already built partnerships with numerous regional financial institutions across various fields②
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125 [Unauthorized reproduction is prohibited] ② Accelerating Regional Revitalization Strategies through Expanded Alliances in the Neo-Media Domain (i) SBI Group envisions supporting regional revitalization through information dissemination by collaborating with regional financial institutions, local newspapers, and local broadcasters (ii) Maximize the utilization of the SBI Group’s management resources to pursue event-driven regional revitalization
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126 [Unauthorized reproduction is prohibited] (i) SBI Group envisions supporting regional revitalization through information dissemination by collaborating with regional financial institutions, local newspapers, and local broadcasters
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127 [Unauthorized reproduction is prohibited] Regional Financial Institutions have Deep Relationships with Local Media Case of The Shimane Bank Regional financial institutions and local media (local newspapers and stations) have both been economic entities rooted in the region, building deep relationships through investment, financing, and partnerships Case of Aomori Michinoku Bank In Dec. 2022, local media companies including Sanin Chuo Television Broadcasting Co., Ltd. and Sanin Cable Vision Co., Ltd. participated in a third- party allotment of new shares conducted by The Shimane Bank to expand its capital base. Aomori Michinoku Bank is the largest shareholder of Aomori Broadcasting Co., Ltd., which operates television and radio stations within Aomori Prefecture (holding 10.0% of the total issued shares excluding treasury stock as of the end of Mar. 2025) Case of Fukuoka FG Fukuoka Financial Group subsidiaries Fukuoka Bank and Nishi-Nippon City Bank are major shareholders of Nishi- Nippon Shimbun Co., Ltd., Kyushu's largest regional newspaper (as of the end of Mar. 2025)
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128 [Unauthorized reproduction is prohibited] SBI Group Organically Integrates Local Media as an Essential Element of Regional Revitalization Strategy Based on Alliances with Regional Financial Institutions and Local Businesses -Rapidly Expanding Regional Economic Boundaries with Power of SBI Group and Media- Unique regional products and content Regional companies Regional financial institutions Regional media Financial support for regions and regional networks Ability to discover and produce regional content Overseas offices and local subsidiaries Southeast Asia Europe Middle East North America Africa Financial functions, data, and networks that boast the highest quality and quantity in the country
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129 [Unauthorized reproduction is prohibited] SBI Group Envisions Supporting Regional Revitalization Through Information Dissemination by Collaborating With Regional Financial Institutions, Local Newspapers, and Local Broadcasters Resource People Capital Synergy Discover talent in the field of journalism through Mynavi (an equity-method affiliate of the company) which operates human resources-related businesses Cutting edge technology held by investees Developing new routes for individual funds to flow in through the creation and sale of new financial products Regional financial institutions, local newspapers, and local stations Possesses a wide range of locally relevant information Support regional revitalization by disseminating local information nationwide By integrating the SBI Group’s strengths in people, resources, and capital with the regional information and networks held by local financial institutions and regional media, we will build unprecedented new media businesses and contribute to regional revitalization Organically connecting regional entities such as local financial institutions, regional newspapers/local stations, and regional companies Providing all financial information from the SBI Group Infor- mation Infor- mation [Mynavi]
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130 [Unauthorized reproduction is prohibited] SBI Group Has Entered Into a Capital and Business Alliance Agreement With Brangista Inc., Which Provides the Digital Magazine “Tabiiro” Featuring Travel and Leisure Information (September 10, 2025) Acquired 8.23% of shares of Brangista through a third-party allotment on October 1 The digital magazine “Tabiiro,” which introduces travel and leisure information, aims to contribute to regional revitalization by collaborating with local governments through regional financial institutions. This includes promoting tourism, regional specialty products, and attracting visitors to the tourism, dining, and leisure industries The service “ACCEL JAPAN,” which allows companies to use photos and videos of famous talents for PR purposes for a monthly fee, promotes business matching with regional financial institutions affiliated with the SBI Group
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131 [Unauthorized reproduction is prohibited] (ii) Maximize the utilization of the SBI Group's management resources to pursue event-driven regional revitalization
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132 [Unauthorized reproduction is prohibited] SBI Group to Acquire MUSIC CIRCUS as a Consolidated Subsidiary (September 30, 2025) MUSIC CIRCUS Inc. operates Japan’s largest music festival, “MUSIC CIRCUS,”which draws tens of thousands of attendees annually across Japan, primarily in the Kansai region, and enjoys significant support, especially among younger audiences. It also runs theKansai region’s largest fireworks display, “SenshuYume Hanabi” SBI Group acquired a 51% stake in the company, which changed its name to “SBI MUSIC CIRCUS Co., Ltd” Event-driven regional revitalization initiatives leveraging overwhelming appeal to young people Approaches to Younger Generations and Financial Services Collaboration Implementation of real-world events utilizing Web3 technology Together with regional financial institutions nationwide, plan and host large-scale events that contribute to the regional economy Recommending account opening with SBI Shinsei Bank and SBI SECURITIES to key customers of “MUSIC CIRCUS” Deliver financial services seamlessly through entertainment content to strengthen integration into the SBI economic ecosystem Preventing resale through NFT tickets and providing new added value Issuance of attendance certificates and digital goods Creating next-generation event experiences that fuse the real and digital worlds
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133 [Unauthorized reproduction is prohibited] SBI MUSIC CIRCUS holds music festivals nationwide, primarily in Osaka and Fukuoka Total attendance at events in Osaka and Fukuoka exceeds 350,000 people The “Senshu Yume Hanabi” fireworks display, held in collaboration with local governments and other entities since 2017, has been rebranded as “SBI Maihanabi” SBI Group Plans and Hosts Large-scale Events Nationwide, Powerfully Supporting Regional Revitalization Through the Power of Entertainment The scene at “Senshu Yume Hanabi in Sennan” held on Aug. 23, 2025 By combining the SBI Group's regional network with SBI MUSIC CIRCUS's event production capabilities, create new festivals nationwide that contribute to regional economies Not only within Japan but also with a view to global expansion The 2025 “MUSIC CIRCUS” has already been held in Osaka and Fukuoka -From Regional to Nation-wide, and Beyond to Global-wide-
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134 [Unauthorized reproduction is prohibited] Leverage the Expertise of CoinPost, Which Became a Consolidated Subsidiary (on Oct. 1, 2025), to Discover and Disseminate Web3-related Information both Domestically and Internationally, and to Organize Events in Regional Areas Through operating Japan’s largest Web3 media outlet “COINPOST,” provide timely coverage of overseas crypto asset information and deliver valuable insights for domestic investors Promote initiatives to uncover local information and disseminate it nationwide and ultimately worldwide Hosting events including Japan’s largest Web3 event “WebX” Contributing to regional revitalization through hosting events in local communities In conjunction with WebX2025, the WebX Fintech EXPO Osaka was co-hosted as a regional event WebX is Japan’s largest annual WEB3 conference held in Tokyo Nearly 1,000 participants, including experts, major financial institutions, startups, investors, and regulators, gathered in Osaka, which seeks to become an international financial center Number of attendees: 14,115 Participating companies: 2,639 Side events: 170 Overview of WebX2025 Synergy
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135 [Unauthorized reproduction is prohibited] (3) To expand our overseas business foundation, expand alliances in Europe, the United States, and the Middle East in addition to Southeast Asia
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136 [Unauthorized reproduction is prohibited] • Features a broad platform for investing in alternative assets at prominent global asset management companies • AUM of USD 464.6bn (JPY 67tn*) includes global credit *As of end of June 2025 Basic agreement To expand private credit with a focus on Asia, the SBI Group has established SBI APAC CREDIT CAPITAL • SBI Group serves as anchor investor • Offers Japanese institutional investors an opportunity to invest in alternatives Expanding Private Credit Business to Global Markets -Launching Full-fledged Rollout in Partnership with U.S. Carlyle- Investment targets in the core private credit markets of North America and Europe Starting with mid-market direct lending in North America and Europe, we plan to invest based on a wide range of strategies including structured credit, opportunistic credit, and asset-backed finance *USD 1 = JPY 144
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137 [Unauthorized reproduction is prohibited] Expand PE Investments Mainly in North America by Leveraging the Network of Local Partners in the U.S. SNBL Group led by Shin Nippon Biomedical Laboratories In Sept. 2024, Co-establishment In Nov.2024, sign partnership agreement, joined as joint GP Fund size: USD 40m Investment target areas: North America SBI US Gateway Fund (Seattle, Washington, the U.S.) Plug and Play the world’s largest accelerator / innovation platform Launch in April 2025, it has invested in 4 companies to date Investments target early-stage startups, including those in the formation stage: (photoelectric integration, digital comic platform, AI agent, AI infrastructure) It has co-invested with top U.S. VCs, including Andreessen Horowitz (a16z), General Catalyst, PayPal Ventures, and Point72
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138 [Unauthorized reproduction is prohibited] Venture Capital Co-investing with world-class VCs Investing in 250 companies annually, totaling over 2,000 companies Accelerator Program Over 60 locations worldwide Supporting over 5,600 companies cumulatively Producing over 30 unicorns Open Innovation Support Connecting large corporations with startups to foster business creation Partnering with over 550 large corporations and over 100 universities Plug and Play’s Business Activities Strengthening the Partnership with Plug and Play, the World’s Largest Accelerator Securing early investment opportunities in high-quality startups worldwide Enabling “SBI × Startups × Large Corporations” and “SBI × Startups × Universities”collaboration models Also considering the establishment of a new joint fund
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139 [Unauthorized reproduction is prohibited] Established in August 2025 Investing approx. JPY 700m as a strategic LP Investment and Business Creation Support AI2 Incubator Fund III Fund Size: USD 80m (Approx. JPY12bn) The SBI Group’s U.S. base An AI incubator originating from the AI research institute established by Microsoft co-founder Paul Allen Startups in the AI field (Natural Language Processing, Synthetic Voice, AI Agents, etc.) Through the partnership with AI2 Incubator: Strengthen the SBI Group’s presence in North America as Japan’s sole strategic LP Secure co-investment opportunities in promising startups carefully selected by the company Gain continuous access to events and networking held at their “AI House” hub Receive quarterly seminars and reports on the latest AI technology trends from the company Receive simplified technical due diligence support from the company for the SBI Group’s AI- related investment deals Partnership Investing in a New Fund Established by the AI2 Incubator to Secure Investment Opportunities and Strengthen Presence in the North American Market
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140 [Unauthorized reproduction is prohibited] Expanding Various Activities in the Middle East Region, Focusing on Investment Establishing and managing a fund specializing in investments in companies operating in Saudi Arabia with the Ministry of Investment of Saudi Arabia (MISA) and BIM Capital Alliance with the Saudi Arabian non-profit organization (NPO) Entrepreneurship Vision, founded by HRH Prince Fahad, a world leader in supporting entrepreneurs and start-ups, to support entrepreneurs Support the “Exponeur” entrepreneurship support program for five years from Expo 2025 in Osaka/Kansai to Expo 2030 in Riyadh Saudi Arabia United Arab Emirates (UAE) Established a USD 100m joint venture fund with SC Ventures, a subsidiary of UK financial giant Standard Chartered Bank, to invest in the crypto sector, including Defi (decentralized finance) and Metaverse Established SBI XDC Network APAC, a Japan-based joint venture (investment: SBI Group 60%, TradeFinex 40%) with TradeFinex Tech (home office: Dubai, UAE) operating the XDC Network which is a blockchain designed to add efficiency to trade finance
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141 [Unauthorized reproduction is prohibited] The Neo-media Ecosystem Leverages Partnerships Centered on Saudi Arabia to Rapidly Expand its Game and Vtuber-related Business • The eSports and VTuber businesses, which the SBI Group has been promoting since 2020, are exceptionally compatible with the neo-media ecosystem; therefore, SBI NEO-MEDIA HOLDINGS will lead the thorough promotion of synergy creation to rapidly expand these businesses going forward • Conclude a strategic partnership on Oct. 31, 2025, with Hawk Group, a powerful leading company in the eSports field in Saudi Arabia Also contributing to building a strong relationship with Saudi Arabia, where more than half of the population are gamers Vtuber business eSports business Prominent professional players are members SBI official VTuber [Rei Shunsui] Entertainment Game Collaboration Talent Management Collaboration Building strong partnerships centered on MENA Collaboration in games Jan. 14, 2025 Collaboration in eSports and games Oct. 31, 202 Collaboration in sports fan tokens May 9, 2024 Web3 Media
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142 [Unauthorized reproduction is prohibited] (4) In the Digital Asset Domain, Promoting Alliance Expansion primarily through the SBI Group’s Overseas Bases toward Global Corridor Expansion B2C2 Europe XDC Middle East Asia Americas Ripple Circle R3 SBI VCT etc. Digital Asset Market Maker Digital Asset Bank Digital Asset Exchange Digital Bank Trade Finance International Settlement Stablecoins Trade Finance ST Market Digital Asset Exchange Digital Asset Market Digital Asset Broker SBI Shinsei Bank Deposit Token SBI Remit International Money Transfer Crypto Assets・ST・ SC・Deposit Tokens・etc. What is a Global Corridor: A vision to build an environment enabling cross-border transactions for all digital assets by leveraging various digital asset-related functions within the SBI Group companies and partner companies
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143 [Unauthorized reproduction is prohibited] (5) New Capital Strategy to Support an Expanding Alliance Strategy To raise funds for capital and business alliances, SBI Holdings employs such common methods as issuing corporate bonds and third-party allotment of new shares Depending on the funding method, such as a third-party allotment of new shares, dilution of SBIH shares may negatively impact the stock price Given these issues, consider using “share exchanges” in the future Portfolio company shares held as subsidiary shares and operating investment securities would be used as consideration Expected to help in strengthening relationships with partners and improving capital efficiency
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144 [Unauthorized reproduction is prohibited] [Reference materials]
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145 [Unauthorized reproduction is prohibited] 1. SBI SECURITIES
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146 [Unauthorized reproduction is prohibited] 7,659 7,335 7,429 7,417 7,741 1,747 3,262 1,631 2,086 1,449 11,331 18,132 15,835 15,671 14,682 16,237 14,742 10,825 12,847 10,699 22,015 19,196 24,711 24,079 32,143 6 7 8 7 7 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 2Q FY2024 3Q FY20242 4Q FY2024 1Q FY2025 2Q FY2025 Quarterly Revenues at SBI SECURITIES Have Remained Robust *Based on J-GAAP （JPY million） Commissions Trading revenues Other commissions Underwriting / Offering commissions / Sales commissions Financial revenues Others (Apr. – June 2025) YoY +13.1% (domestic stocks (face to face transaction), foreign stocks, futures, options) [Comparison of SBI SECURITIES’ Consolidated Operating Revenue (Net Sales) Breakdown] (Investment trust fees, advisory fees, bank agency business fees, management fees for margin accounts) 58,998 62,676 （July – Sept. 2025)(Oct. – Dec. 2024)(July – Sept. 2024) (Jan. – Mar. 2025) 60,441 62,109 66,724 1. Securities Business：
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147 [Unauthorized reproduction is prohibited] 0 500 1,000 1,500 2,000 2,500 Jul Aug Sep Oct Nov Dec Jan. Feb Mar Apr May Jun Jul Aug Sep 2Q 3Q 4Q 1Q 2Q 22,015 32,143 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 2Q 3Q 4Q 1Q 2Q Open Interest Credit Balance Recovered to the JPY 2 Trillion Level, and Financial Revenues Achieved an All-Time High End of 2Q FY2025 JPY 2,049.4bn End of 2Q FY2024 JPY 1,651.7bn FY2024 Aug. 2024 Historical plunge in the Japanese stock market Apr. 2025 The Trump tariff shock FY2025 FY2024 FY2025 YoY +21.9% YoY +46.0% 1. Securities Business： [Trend of Open Interest Credit Balance (EoM)] [Trend of Financial Revenue] (JPY billion) (JPY million) (EoM)
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148 [Unauthorized reproduction is prohibited] 13,385 10,035 11,438 14,067 11,198 1,906 358 8,972 13,857 14,921 17,814 12,348 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 1H FY2021 1H FY2022 1H FY2023 1H FY2024 1H FY2025 FX revenue Crypto asset trading revenue Others (revenue through foreign currency bond, etc) 23,546 31,881 24,250 26,35924,263 Sales amount decreased as the attractiveness of foreign currency-denominated bonds relatively declined due to the rise in JPY interest rates Although the average transaction price recovered after its drop in 1Q due to excessive concentration on USD/JPY transactions, the number of contracts traded decreased from July to Sept. FX Revenue Revenues from Foreign Currency- Denominated Bonds 1. Securities Business： Trading Revenue of SBI SECURITIES (consolidated) (JPY million) Crypto asset trading revenue is not included from 3Q FY2022 onward due to reorganization within the Group
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149 [Unauthorized reproduction is prohibited] [Investment Trust Fees] 3,618 3,926 4,011 4,035 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 2Q 3Q 4Q 1Q 2Q [SBI Securities’ Quarterly Investment Trust Balance] FY2021 FY2022 FY2023 Investment Trust Fees Reached Record High, Driven by an Increase in Investment Trust Balance (JPY trillion) (JPY million) FY2024 FY2024 YoY +29.8％ (EoM) (JPY billion) FY2025 FY2025 -Monthly accumulation-type fund investments of approximately JPY 260 billion contributed to this performance- Record high 1. Securities Business： 4,695 4.44 5.83 8.67 14.67 21.58 250 279 500 904 705 0 500 1,000 1,500 2,000 0.00 5.00 10.00 15.00 20.00 25.00 2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q 10Quarterly Investment Trust Balance Net increase (purchases - cancellations） YoY +47.1%
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150 [Unauthorized reproduction is prohibited] SBI SECURITIES made administrative fees for iDeCo to be completely free of charge on May 19, 2017, to further expand iDeCo business Corporate type DC has more than 20,000 entrusted business locations and approximately 227,000 participants as of the end of Oct. 2025 Striving to Further Expand iDeCo and Corporate-typed DC, Which is Contracted by SBI Benefit Systems, as a Strategic Product • Removal of restrictions on employee contributions to corporate DC matching contributions（April 2026-） • The maximum eligibility age for iDeCo will be raised from 65 to 70（Jan. 2027-） • The contribution cap for corporate-type DC plans will be increased from JPY 55,000 to JPY 62,000（Jan. 2027-） Pension System Revisions Finalized under the Pension Reform Act Established in June 2025, as follows: 1. Securities Business： 121 1,440 0 500 1,000 1,500 Mar. 2016 Mar. 2018 Mar. 2020 Mar. 2022 Mar. 2024 Sept. 2025 CAGR (End of Mar. 2016- End of Sept. 2025） 29.8% (Thousand) [Cumulative Number of SBI Benefit Systems Subscribers for DC (individual type + corporate type)] [Balance of Investment Trust for 401K (individual type + corporate type) Distributed by SBI SECURITIES] 59 2,331 0 500 1,000 1,500 2,000 2,500 Mar. 2016 Mar. 2018 Mar. 2020 Mar. 2022 Mar. 2024 Sept. 2025 CAGR (End of Mar. 2016- End of Sept. 2025） 47.2% (EoM) (JPY billion) (EoM)
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151 [Unauthorized reproduction is prohibited] * Cumulative total number of subscribers and transfers announced by the National Pension Fund Association Source: Briefing paper of the National Pension Fund Association (partially includes estimates by SBI Holdings) 1,131 0 300 600 900 1,200 Nov. Mar Jul Nov Mar Jul Nov Mar Jul Nov Mar Jul Nov Mar Jul Nov Mar Jul Nov Mar Jul Nov Mar Jul <Cumulative Number of Customers (subscribers & transfers*) of iDeCo by Planning Administrator> (End of Nov. 2017 – End of Aug. 2025)（Thousand） SBI SECURITIES Company A Company C Company D 2017 2018 Surpassed Company A, the industry leader at the time in Oct. 2018 2019 2020 Company B 2021 2022 SBI SECURITIES is the Industry Leader in the Cumulative Number of Individual Defined Contribution Plan (iDeCo) Customers 2023 Surpassed 1m customers for the first time in the industry at end of Sept. 2024 2024 From Dec. 2024, the employer’s certificate that company employees and civil servants were required to submit for enrollment procedures, etc., has been abolished 2025 1. Securities Business： [SBI SECURITIES’ Initiatives for Enhancing iDeCo Convenience] • iDeCo balances can now be viewed in the “My Assets” section of the securities comprehensive account asset management screen (Starting Sept. 26) • Industry-first “e-iDeCo (Online Application for Various iDeCo Procedures)” Service Launches (Starting Oct. 20)
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152 [Unauthorized reproduction is prohibited] Company name Number of cases Underwriting share(%) SBI 17 89.5 Matsui 13 68.4 Rakuten 10 52.6 Tokai Tokyo 10 52.6 SMBC Nikko 9 47.4 Monex 9 47.4 Okasan 9 47.4 Mizuho 9 47.4 Nomura 9 47.4 Iwai Cosmo 8 42.1 1. Securities Business： Underwriting of POs SBI SECURITIES underwrote 3 POs in 1H FY2025 IPO Underwriting Ranking (Apr. 2025 – Sept. 2025) 19 companies were listed during Apr. 2025 to Sept. 2025 • The above IPOs represent issues underwritten in Japan only and do not include additional secondary or overseas issues • The data was complied by SBI Holdings based on each company's published information Corporate bond underwriting business SBI SECURITIES underwrote 27 corporate bonds in 1H FY2025 including SoftBank Group bonds SBI SECURITIES underwrote 4 companies as a lead manager in 1H FY2025 SBI SECURITIES Has Been Maintaining the Highest IPO Underwriting Share in the Industry Since FY2012 -Steady growth in POs and corporate bond underwritings-
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153 [Unauthorized reproduction is prohibited] Number of Accounts among Five Major FX Trading Companies （as the end of Jan. 2022 – Sept, 2025） SBI Group(*1) Gaitame.com(*3) Customer Margin Deposits among FX Trading Companies (as the end of Jan. 2022 – Sept. 2025)(Thousand Account) （JPY Billion ） GMO Group (*2) Source: Compiled by SBI Holdings from the information on websites and disclosures of each Hirose Tusyo (*2) Figures of GMO CLICK Securities, GMO Gaika (Formerly GaikaEX by GMO which joined the GMO Group in Sept. 2021) and GMO Coin (Merged with FX prime byGMO, with numbers added from January 2024) are combined and listed as “GMO Group” (*3) Gaitame.com transferred the FX service accounts of the former Money Partners to the company on June 28, 2025 （EoM） （EoM） SBI Group Boasts Industry-leading Numbers of FX Accounts and Margin Deposits (*1) “SBI Group” includes FX accounts of SBI SECURITIES, SBI FXTRADE and SBI Sumishin Net Bank. 1.Securities Business： 0 500 1,000 1,500 2,000 2,500 3,000 Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. 2022 2023 2024 2025 0 50 100 150 200 250 300 350 400 450 500 Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. 2022 2023 2024 2025年 SBI Group GMO Group Gaitame.com Hirose Tusyo
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154 [Unauthorized reproduction is prohibited] 2. Overview of the Group
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155 [Unauthorized reproduction is prohibited] End of Mar. 2025 End of Sept. 2025 Consolidated subsidiaries (companies) 635 668 Consolidated partnerships (partnerships) 61 60 Total consolidated subsidiaries (companies) 696 728 Equity method companies (companies) 64 71 Total Group companies (companies) 760 799 End of Mar. 2025 End of Sept. 2025 Total employees 19,156 18,594 Number of Companies and Employees of the SBI Group (Consolidated) Number of Group Companies Number of Employees (Consolidated) 2. Overview of the Group
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156 [Unauthorized reproduction is prohibited] 45.2 48.6 35.2 33.9 33.6 36.3 27.9 27.6 24.3 23.1 24.5 21.3 0.5 0.8 11.2 10.3 10.2 17.6 20.0 19.2 26.5 26.0 25.9 22.0 6.4 3.8 2.8 6.8 5.7 2.8 0 20 40 60 80 100 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Sept.2025 Trends of Shareholders Composition Others （％） Total number of shareholders is 251,266 , of which the number of shareholders who hold one unit or more is 171,632 Shareholding ratio of domestic and foreign institutional investors is 57.5% *1 *2 SBI Group’s Shareholders Composition (As of the end of Sept. 2025) Took 1st place for 2 consecutive years in the J.D. Power “2025 Individual Shareholder Satisfaction Study” <Securities Segment> * Individuals Survey based on 7 factors: Profitability/shareholder returns; business and products/services; financial stability; securing the rights and equal treatment of shareholders; ensuring appropriate information disclosures and transparency; responsibilities of the Board; and appropriate cooperation with stakeholders other than shareholders Domestic financial institutions Domestic business corporations Foreign institutions and individuals *1 Treasury stocks are included in the number of shareholders who hold one unit or more *2 Including treasury stocks (EOM) * Fiscal Year 2024, Fiscal Year 2025
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157 [Unauthorized reproduction is prohibited] https://www.sbigroup.co.jp