Slides
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Strategic Business Innovator SBI Holdings, Inc. Financial Results for the Six-month Period Ended September 30, 2026 (Fiscal Year Ending March 31, 2027) November 2, 2026
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1[Unauthorized reproduction is prohibited] 1 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] 2 I. Consolidated financial results for the six-month period ended September 30, 2026 II. Strategic initiatives being focused on in the current fiscal year
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3[Unauthorized reproduction is prohibited] 3 I. Consolidated financial results for the six- month period ended September 30, 2026
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4[Unauthorized reproduction is prohibited] 4 [Overview of Consolidated Results] • Revenue increased 17.2% YoY to JPY 1,057.5bn, consolidated profit before income tax expense increased 52.9% to JPY 324.3bn, and profit for the period attributable to owners of the Company increased 39.1% to JPY 230.6bn, each marking a record high for first-half results • Consolidated profit before income tax expense significantly exceeded the record high of the same period of the previous fiscal year, supported by the solid performance of the Financial Services Business and the Asset Management Business, as well as valuation gains recorded on multiple portfolio companies in the PE Investment Business • Annualized ROE for 1H FY2026 was 23.2% • Annual dividend forecast per share for FY2026 is JPY110, an increase of JPY15 from the previous fiscal year (interim dividend: JPY30 (decided); year-end dividend forecast: JPY80) Note: Dividend amounts reflect the 2-for-1 stock split of common shares that took effect on Dec. 1, 2025
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5[Unauthorized reproduction is prohibited] 5 1H FY2026 Consolidated Performance (IFRS) (JPY billion) 1H FY2025 (Apr.-Sept. 2025) 1H FY2026 (Apr.-Sept. 2026) YoY Change (%) Revenue 902.6 1,057.5 +17.2 Profit before income tax expense 212.1 324.3 +52.9 Profit for the period 163.3 249.1 +52.6 Profit attributable to owners of the parent 165.8 230.6 +39.1 Record high* Record high* Record high* Record high* *Compared with past first-half results Annualized ROE for 1H FY2026: 23.2%
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6[Unauthorized reproduction is prohibited] 6 (JPY billion) 1H FY2025 1H FY2026 YoY change (%) SBI Holdings (IFRS) 212.1 324.3 +52.9 NOMURA HOLDINGS (US-GAAP) 296.9 359.5 +21.1 Daiwa Securities Group (J-GAAP) 120.4 170.5 +41.6 Mitsubishi UFJ Securities H (J-GAAP) 50.1 81.0 +61.7 1H FY2025 1H FY2026 YoY change (%) 165.8 230.6 +39.1 196.6 249.3 +26.8 79.0 107.8 +36.6 23.9 39.4 +64.4 Profit Before Income Tax Expense Profit for the Period Attributable to Owners of the Parent *1 Overseas securities subsidiaries excluded from the scope of consolidation from 3Q FY2025 *2 Compiled by SBI Holdings from the earnings releases (Kessan Tanshin) published by each company Comparison of Consolidated Performance with Major Securities Groups *1
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7[Unauthorized reproduction is prohibited] 7 1H FY2025 (Apr.-Sept. 2025) 1H FY2026 (Apr.-Sept. 2026) YoY change (%) Financial Services Business 707.4 829.7 +17.3 Asset Management Business 18.6 26.2 +40.7 PE Investment Business 141.1 181.3 +28.5 Crypto-asset Business 33.0 23.1 -30.1 Next Gen Business 14.3 26.2 +82.8 (JPY billion) 1H FY2026 Performance by Segment (IFRS) 1H FY2025 (Apr.-Sept. 2025) 1H FY2026 (Apr.-Sept. 2026) YoY change (%) 118.0 200.2 +69.7 3.5 6.5 +87.9 110.5 153.1 +38.5 -0.1 -1.6 - 2.2 2.5 +12.2 Revenue Profit Before Income Tax Expense Record high*1 Record high*1 [YoY Comparison] Record high*1 Record high*1 Record high*1 Record high*1 Record high*1 Record high*1 *1 Compared with first-half results since FY2021, for which results have been disclosed under the current segments. The Financial Services Business also achieved a record high compared with first-half results since FY2012, when IFRS was adopted *2 Figures by segment do not include consolidation eliminations
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8[Unauthorized reproduction is prohibited] 8 Annual Dividend Forecast Revised to JPY110 per Share, an Increase of JPY15 from the Previous Fiscal Year Interim Year-end Annual FY2026 JPY30 JPY80 (planned) JPY110 (planned) FY2025 (actual) JPY20 JPY75 JPY95 ■ Dividend per Share Note: Dividend amounts on this slide reflect the 2-for-1 stock split of common shares that took effect on Dec. 1, 2025 As announced on July 31, 2026, the interim dividend for the current fiscal year was decided at JPY30 per share, an increase of JPY10 YoY Based on the business conditions of the companies in the Financial Services Business and the market outlook for the current fiscal year, the year-end dividend forecast was announced early at JPY80 per share, an increase of JPY5 YoY
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9[Unauthorized reproduction is prohibited] 9 Performance of the Financial Services Business, the Basis for Calculating Shareholder Returns, Continues to Grow Steadily 70.2 81.8 74.4 98.5 104.4 92.9 118.0 200.2 0 100 200 300 1H FY2022 2H FY2022 1H FY2023 2H FY2023 1H FY2024 2H FY2024 1H FY2025 2H FY2025 1H FY2026 306.9 FY2025 JPY 425.0bn (JPY 283.4bn*) FY2024 JPY 197.3bn FY2023 JPY 172.9bn FY2022 JPY 152.0bn (JPY billion) Gain on sale of former SBI Sumishin Net Bank shares 141.6 1H FY2026 200.2 Note: Figures do not include consolidation eliminations Profit Before Income Tax Expense of the Financial Services Business (IFRS) 165.3 *Excluding gain on sale of former SBI Sumishin Net Bank shares
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10[Unauthorized reproduction is prohibited] 10 As a Basic Group Policy, Endeavoring to Further Increase Shareholder Returns Interim dividend of JPY9.50 per share (up JPY0.5), marking 8 consecutive years of increases Policy to continue increasing year-end dividend for 18 consecutive years Annual dividend forecast of JPY59 per share (up JPY12.5) Introduced interim dividends from FY2026, paying an interim dividend of JPY10 per share Interim dividend of JPY30 per share (up JPY5)* * SBI Leasing Services conducted a 2-for-1 stock split of its common stock effective Apr. 1, 2026. Year-on-year changes are presented on a post-stock-split basis
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11[Unauthorized reproduction is prohibited] 11 [Business Overview of Each Business Segment]
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12[Unauthorized reproduction is prohibited] 12 1. Financial Services Business . 1H FY2025 (Apr. 2025 – Sept. 2025) 1H FY2026 (Apr. 2026 – Sept. 2026) YoY (%) Banking business 73.6 107.3 +45.8 Securities business 34.1 64.8 +90.0 Insurance business 5.7 18.6 +227.1 Breakdown of Profit Before Income Tax Expense In the Major Segments of Financial Services Business (JPY billion)[Financial Services Business Consolidated Results (IFRS)] 1H FY2025 (Apr. 2025 – Sept. 2025) 1H FY2026 (Apr. 2026 – Sept. 2026) YoY (%) Revenue 707.4 829.7 +17.3 Profit before income tax expense 118.0 200.2 +69.7 Record high Record high (JPY billion)
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13[Unauthorized reproduction is prohibited] 13 • SBI Shinsei Bank (J-GAAP) recorded year-on-year growth of 51% in profit before income tax expense, driven by an increase in operating assets as well as higher housing loan and other lending-related fees. Profit before income tax expense on an IFRS basis, as recognized in the Company’s consolidated results, was JPY 74.1bn (+15.2% YoY) • SBI Shinsei Bank introduced interim dividends from FY2026, with an interim dividend of JPY10 per share • From Kyobo SBI SAVINGS BANK, an equity-method affiliate (SBI Group voting rights ownership ratio: 41.34%; SBI Group economic interest: 70%), the Company recognized JPY 3.7bn in share of profit of associates in 1H FY2026 [Business Highlights] SBI Shinsei Bank Group, SBI ARUHI, Kyobo SBI SAVINGS BANK (South Korea)*, SBI Bank (Russia), SBI BANK (CAMBODIA), TPBank (Vietnam), Solaris SE (Germany) etc. [Major Constituent Companies] 1. Financial Services Business: (1) Banking Business *Name changed from SBI SAVINGS BANK on Nov. 1, 2026
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14[Unauthorized reproduction is prohibited] 14 SBI Shinsei Bank forecast profit before income tax expense of JPY 132.0bn for FY2026 (J-GAAP) when it announced its full- year results for FY2025 on May 1, 2026, and progress toward the target has been extremely strong [J-GAAP] 1H FY2025 1H FY2026 YoY change (%) 165.7 199.8 +21 79.2 106.4 +34 61.6 92.9 +51 69.3 69.0 -0 (JPY billion) Gross operating profit Net operating profit before credit costs Profit before income tax expense Profit attributable to owners of the parent SBI Shinsei Bank 1H FY2026 Consolidated Performance 1. (1) Banking Business: SBI Shinsei Bank Note: Figures are rounded down to the first decimal place Record high* Record high* Record high* *Comparison with 1H results since FY2000, when operations began as Shinsei Bank
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15[Unauthorized reproduction is prohibited] 15 6.3 9.9 11.5 14.6 18.1 3.04 3.16 3.53 3.87 1 2 3 4 0 2 4 6 8 10 12 14 16 18 20 End of Mar. 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Mar. 2026 End of Sept. 2026 Total amount of deposits (Left) Number of accounts (Right) 4.33 SBI Shinsei Bank’s Retail Accounts and Total Deposits 17.3 1. (1) Banking Business: SBI Shinsei Bank Dec. 2021 Joined the SBI Group (JPY trillion) (million accounts) End of Sept. 2026 4.59 Note: Total deposits are rounded down to the first decimal place, and the number of retail accounts is rounded down to two decimal places
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16[Unauthorized reproduction is prohibited] 16 0.13 0.87 1.29 1.43 1.59 47 270 460 581 710 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 1.8 End of Sept. 2025 End of Dec. 2025 End of Mar. 2026 End of June 2026 End of Sept. 2026 0 100 200 300 400 500 600 700 800 SBI Hyper Deposit balance Number of SBI Hyper Deposit accounts Number of Accounts and Deposits in “SBI Hyper Deposit,” SBI Shinsei Bank’s Sweep Account with SBI SECURITIES, Increased Significantly SBI Hyper Deposit launched on Sept. 24, 2025 (JPY trillion) (thousand accounts) 1. (1) Banking Business: SBI Shinsei Bank Deposits surpassed JPY 1.5tn on Sept. 8, 2026 Note: The number of “SBI Hyper Deposit” accounts is rounded down to the nearest whole number, and the “SBI Hyper Deposit” balance is rounded down to two decimal places End of Sept. 2026
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17[Unauthorized reproduction is prohibited] 17 8.1 10.3 11.4 14.3 18.0 2.8 1.8 0.5 6.1 2.3 0.6 0.5 0.4 4.1 0 2 4 6 8 10 12 14 16 18 End of Mar. 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Mar. 2026 End of Sept. 2026 19.5(JPY trillion) Dec. 2021 Joined the SBI Group SBI Shinsei Bank’s Operating Assets Note1: Includes guarantees not requiring funding (customer’s liabilities for acceptances and guarantees) and marketable securities Note2: Rounded down to the first decimal place Retail banking (housing loans etc.) APLUS etc.* Corporate (corporations etc.) Structured finance Overseas business Marketable securities Shinsei Financial Showa Leasing Other Individual Business Institutional Business 1. (1) Banking Business: SBI Shinsei Bank *Includes lease receivables and installment receivables End of Sept. 2026
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18[Unauthorized reproduction is prohibited] 18 • For 1H FY2026, SBI SECURITIES’ consolidated results (J-GAAP) reflected its diversification of revenue sources, which captured the robust domestic and overseas stock markets, and as a result, operating revenue reached JPY 191.0bn (+48.3% YoY) and operating income rose to JPY 66.9bn (+75.6% YoY), both record highs • Profit attributable to owners of the parent also reached a record high of JPY 45.4bn (+62.1% YoY) 1. Financial Services Business: (2) Securities Business SBI SECURITIES, SBI Liquidity Market, SBI FXTRADE, SBI MONEYPLAZA, Osaka Digital Exchange, SBI Thai Online Securities (Thailand), SBI Royal Securities (Cambodia), BNI SEKURITAS (Indonesia), FPT Securities (Vietnam), etc. [Major Constituent Companies] [Business Highlights]
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19[Unauthorized reproduction is prohibited] 19 1H FY2025 (Apr. 2025 - Sept. 2025) 1H FY2026 (Apr. 2026 - Sept. 2026) YoY change (%) Operating Revenue 128.8 191.0 +48.3 Net Operating Revenue 110.5 159.5 +44.3 Operating Income 38.1 66.9 +75.6 Ordinary Income 41.2 66.6 +61.7 Profit Attributable to Owners of the Parent 28.0 45.4 +62.1 SBI SECURITIES 1H FY2026 Consolidated Results (J-GAAP) 1. (2) Securities Business: [Year-on-Year Comparison] (JPY billion) Record high Record high Record high Record high Record high SBI SECURITIES’ (consolidated) expense ratio* of 58.1% is significantly lower than Nomura Securities’ (non-consolidated) 65.0% and Daiwa Securities’ (non-consolidated) 66.6% *Expense ratio = [Selling, general and administrative expenses] ÷ [Net operating revenue]
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20[Unauthorized reproduction is prohibited] 20 15.1 15.2 19.24.0 3.5 8.5 22.6 30.4 38.6 31.9 23.5 42.942.1 56.2 81.8 0 20 40 60 80 100 120 140 160 180 200 1H FY2024 1H FY2025 1H FY2026 YoY +48.3% 191.0 (36.4%) 128.8 115.8 Interest income from margin trading, interest income from securities lending, etc. FX revenue, revenue from sales of foreign currency- denominated bonds, equity- and bond-related trading gains and losses, etc. (27.5%) (19.5%) (3.5%) (13.0%) (43.6%) (18.2%) (23.6%) (2.7%) (11.8%) (42.8%) (22.5%) (20.2%) (4.5%) (10.1%) SBI SECURITIES Achieved Significant Revenue Increase by Diversifying Its Revenue Sources and Strengthening Its Earning Power Across All Business Areas [Comparison of SBI SECURITIES’ Consolidated Operating Revenue (Net Sales) Breakdown] Trading revenues Other commissions Financial revenues Commissions Underwriting/Offering commissions/Sales commissions Investment trust fees, advisory fees, bank agency business fees, management fees for margin accounts, etc. (JPY billion) *Based on J-GAAP 1. (2) Securities Business: Domestic stocks (face- to-face transaction only), foreign stocks, futures, individual stock options, etc.
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21[Unauthorized reproduction is prohibited] 21 7.7 8.7 8.9 11.1 8.1 1.4 7.8 2.9 3.7 4.7 14.7 15.4 14.8 17.0 21.6 10.7 17.0 16.0 21.7 21.2 32.1 29.4 34.9 38.0 43.8 0 10 20 30 40 50 60 70 80 90 100 2Q FY2025 3Q FY2025 4Q FY2025 1Q FY2026 2Q FY2026 Quarterly Revenues at SBI SECURITIES Have Continued to Expand Steadily QoQ +8.5% 78.3 66.7 77.4 91.6 99.4 (JPY billion) 1. (2) Securities Business: [Comparison of SBI SECURITIES’ Quarterly Consolidated Operating Revenue (Net Sales) Breakdown] Interest income from margin trading, interest income from securities lending, etc. FX revenue, revenue from sales of foreign currency- denominated bonds, equity- and bond-related trading gains and losses, etc. Trading revenues Other commissions Financial revenues Commissions Underwriting/Offering commissions/Sales commissions Investment trust fees, advisory fees, bank agency business fees, management fees for margin accounts, etc. Domestic stocks (face- to-face transaction only), foreign stocks, futures, individual stock options, etc. *Based on J-GAAP (July - Sept. 2025) (Oct. - Dec. 2025) (Jan. - Mar. 2026) (Apr. - June 2026) (July - Sept. 2026)
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22[Unauthorized reproduction is prohibited] 22 1.867 4.467 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Nomura SBI 2010 2012 2014 2016 CAGR*2: 13.4% 2018 2020 2022 2024 2026 (EOM) CAGR*2: 1.9% 16.864 million accounts Number of Securities Accounts at the SBI Group Surpasses 17 Million Accounts for the First Time in Japan [Number of Securities Accounts of the SBI Group*1 and Nomura Holdings] (End of Mar. 2009 - end of Mar. 2026) Sept. 30, 2023 Start of “ZERO Revolution” May 2022 Announces that fees will be eliminated during 1H FY2023 June 2019 Announces the concept of eliminating fees for online domestic stock trading (Million accounts) *1 Figures of the SBI Group include accounts of FOLIO and SBI Neotrade Securities *2 CAGR (compound annual growth rate) is calculated for the period from the end of Mar. 2009 to the end of Sept. 2026 6.172 million accounts 1. (2) Securities Business: As of end of Sept. 2026 (End of) Surpassed 17m accounts (Announced Oct. 15)
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23[Unauthorized reproduction is prohibited] 23 19.5 20.4 26.4 31.8 35.3 46.8 4.4 5.8 8.7 14.7 21.6 32.3 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Assets Under Custody of the SBI Group’s Securities Business Exceeded JPY 79 Trillion FY2025FY2024FY2023FY2022FY2021 (JPY trillion) - Target JPY 100 trillion in assets under custody by the end of Mar. 2029 - Trend of Assets Under Custody*1 (End of 2Q FY2021 to End of 2Q FY2026) *1 Assets under custody include FOLIO, SBI Neotrade Securities, etc. *2 Investment trust balance shows the balance of SBI SECURITIES only (End of) Start of “ZERO Revolution” (Sept. 2023) FY2026 1. (2) Securities Business: 56.9 46.5 26.2 79.1 23.9 YoY +39.0% 35.1 ■ Investment trust balance*2 ■ Stocks, bonds, etc.
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24[Unauthorized reproduction is prohibited] 24 Ongoing efforts to diversify revenue sources, pursued ahead of the “ZERO Revolution,” are yielding steady results ① Financial revenues ② Trading revenues ③ Other commissions (Investment trust fees, M&A advisory fees, etc.) ④ Commissions ⑤ Underwriting/Offering commissions/ Sales commissions [In Order of Revenue Contribution]
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25[Unauthorized reproduction is prohibited] 25 15.5 16.3 18.2 21.6 22.8 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 2Q 3Q 4Q 1Q 2Q 2.05 2.26 2.53 3.27 3.04 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 July Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July Aug. Sept. 2Q 3Q 4Q 1Q 2Q YoY +36.4% 29.4 32.1 43.8 38.0 ■ Of which revenue from margin trading 34.9 SBI SECURITIES’ Financial Revenues Achieved a Record High Against the Backdrop of a High Level of Open Interest Credit Balance [Trend in Open Interest Credit Balance (EoM)] [Trend in Financial Revenues] (JPY billion) (JPY trillion) FY2025 FY2026 FY2025 FY2026 (End of) ① Financial revenues:
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26[Unauthorized reproduction is prohibited] 26 0.4 4.6 8.5 8.5 6.9 7.0 5.6 3.1 6.3 4.3 13.4 13.9 14.8 17.1 12.3 22.5 0 5 10 15 20 25 30 35 40 45 50 1H FY2022 1H FY2023 1H FY2024 1H FY2025 1H FY2026 23.5 31.9 24.3 26.4 Revenue from domestic stocks grew sharply against the backdrop of favorable market conditions • Spot revenue rose sharply on heightened volatility driven by U.S. and Japanese interest rate trends and the release of economic indicators • Swap revenue also contributed to earnings, supported by stable positions in high-yielding currency pairs FX Revenue Equity-related revenue, etc. 42.9 FX Revenue Equity-related revenue, etc. Bond-related revenue Crypto asset trading revenue* Revenue from foreign bonds remained flat amid the U.S.-Japan interest-rate differential and foreign exchange market environment Bond-related revenue SBI SECURITIES’ Trading Revenues Achieved a Record High ② Trading revenues: (JPY billion) *Crypto asset trading revenue is not included in trading revenue from 3Q FY2022 onward Record high
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27[Unauthorized reproduction is prohibited] 27 Investment Trust Fees and Investment Trust Balance at SBI SECURITIES Reached Record Highs - Monthly recurring investment amounts set exceeded JPY 340bn - [Investment Trust Fees][Quarterly Investment Trust Balance at SBI SECURITIES] 5.8 8.7 14.7 21.6 32.3 0.28 0.50 0.90 0.71 1.43 0.0 0.5 1.0 1.5 2.0 2.5 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q Quarterly Investment Trust Balance Net increase (purchases - cancellations) 4.7 5.3 5.7 6.4 7.0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 2Q 3Q 4Q 1Q 2Q FY2022 FY2023 (JPY trillion) (JPY billion) FY2024 FY2025 YoY +48.9% (End of) (JPY trillion) FY2025 FY2026 YoY +49.5% Record high FY2026 ③ Other commissions: Investment trust fees Record high
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28[Unauthorized reproduction is prohibited] 28 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 1H FY2023 1H FY2024 1H FY2025 1H FY2026 Spot Margin Revenue from Foreign Stocks at SBI SECURITIES Grew Substantially 4.0 6.4 7.0 10.0 0 2 4 6 8 10 1H FY2023 1H FY2024 1H FY2025 1H FY2026 Trend in Revenue from Foreign Stocks • Along with 5,400 U.S. stocks, among the largest lineups in the industry, SBI SECURITIES handles stocks from China, South Korea, Russia, Vietnam, Indonesia, Singapore, Thailand, Malaysia, etc. • 2Q trading value declined from 1Q, when trading was active centered on semiconductor-related stocks, but revenue grew substantially YoY • Ahead of the start of 23-hour trading of U.S. stocks, trading commissions for U.S. stock margin trading and the buy-side interest and stock lending fees for day trading have been made effectively free Trend in Trading Value of U.S. Stocks (JPY trillion) JPY 7.3tn JPY 2.5tn Record high JPY 2.6tn JPY 0.4tn Sept. 2023 Start of “ZERO Revolution” Sept. 2023 Start of “ZERO Revolution” ④ Commissions: Foreign stocks (JPY billion) Record high
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29[Unauthorized reproduction is prohibited] 29 100 120 140 160 180 200 220 June 12 July 12 August 12 September 12 October 12 Large IPO of U.S.-Based SpaceX Contributed to Revenue Revenue from the IPO of U.S.-based SpaceX: Sales commissions (IPO) + trading commissions + foreign exchange fees Total approx. JPY 550m (June 12 - Sept. 30, 2026) IPO price USD135 Trend in SpaceX’s Share Price Although the share price temporarily fell below the IPO price of USD135, it rebounded sharply thereafter. Trading at SBI SECURITIES also remained active (USD) ④ Commissions: Foreign stocks Continuing to focus on handling U.S. stocks, centered on large IPO stocks
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30[Unauthorized reproduction is prohibited] 30 15.2 18.3 29.7 26.7 36.9 35.6 26.6 35.6 31.5 31.6 52.0 141.5 151.9 199.1 0 50 100 150 200 250 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY2023 FY2024 FY2025 0 SBI SECURITIES’ Retail JGB Sales Hit Quarterly Record High and Topped Securities Companies in Jan.-June 2026 Trend of Retail JGB Sales at SBI SECURITIES (JPY billion) (1Q FY2023 - 2Q FY2026) FY2026 Institution Sales (JPY billion) 1 SBI SECURITIES 308.3 2 Nomura Securities 187.1 3 SMBC Nikko Securities 185.9 4 Rakuten Securities 180.0 5 Mizuho Securities 136.6 Top Institutions by Retail JGB* Sales (Securities Companies) (Jan. - June 2026) Source: Ministry of Finance YoY 5.6x *Includes new OTC Sales JGBs No. 2 among all financial institutions, after Japan Post Bank ⑤ Underwriting/Offering commissions/Sales commissions: Retail JGBs - Sales grew substantially on higher JGB yields following policy rate hikes and an interest rate advantage over deposits -
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31[Unauthorized reproduction is prohibited] 31 SBI SECURITIES Is Strengthening Its Primary and Secondary Underwriting Business for Stocks and Bonds IPO Underwriting Ranking (Apr. 2026 - Sept. 2026) *The above IPOs represent issues underwritten in Japan only and do not include additional secondary or overseas issues *The data was compiled by SBI Holdings based on each company’s published information 25 companies were listed during Apr.-Sept. 2026 Company name Number of cases Participation rate (%) SBI 24 96.0 Monex 17 68.0 Okasan 16 64.0 Matsui 16 64.0 Iwai Cosmo 13 52.0 SMBC Nikko 13 52.0 Tokai Tokyo 12 48.0 Rakuten 12 48.0 Daiwa 10 40.0 Mizuho 8 32.0 Trend in Underwriting Amountof Corporate Bonds and Public Bonds at SBI SECURITIES 93.0 135.6 141.0 187.2 286.8 1H FY2022 1H FY2023 1H FY2024 1H FY2025 1H FY2026 (Unit: JPY billion) ⑤ Underwriting/Offering commissions/Sales commissions: IPO, bond underwriting • Underwrote a total of 36 public bonds and a total of 43 corporate bonds in 1H FY2026 • In Sept. 2026, SoftBank Group issued JPY 1tn in retail bonds, the largest ever in Japan. SBI SECURITIES underwrote JPY 100bn, a record high for a single corporate bond issue, which sold out in only about 10 hours after sales began SBI SECURITIES was lead manager in 8 cases
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32[Unauthorized reproduction is prohibited] 32 Next steps to expand the customer base and further strengthen revenue (1) Strongly promote the acquisition of minor accounts in anticipation of the “Kodomo NISA” starting in Jan. 2027 (2) Further strengthen the “Open Alliance” strategy to acquire new customer bases
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33[Unauthorized reproduction is prohibited] 33 (1) Strongly promote the acquisition of minor accounts in anticipation of the “Kodomo NISA” starting in Jan. 2027
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34[Unauthorized reproduction is prohibited] 34 Thoroughly Strengthening Initiatives to Expand Minor Accounts Ahead of the “Kodomo NISA” Launching in Jan. 2027 Significance of Acquiring Minor Accounts • Japan’s population aged 0-17 is approx. 17m (as of Oct. 1, 2024), while “Junior NISA,” the predecessor of Kodomo NISA, had approx. 1.04m accounts (as of end of Dec. 2024), a penetration rate of only 6% • “Kodomo NISA” allows regular investment from age 0 for up to 18 years, and accounts automatically transfer to adult NISA accounts at age 18, providing an opportunity to build long-term relationships with customers • Fixed-amount regular investment (up to JPY 600 thousand per year, JPY 6m in total) is expected to drive steady growth in assets under custody Specific Initiatives Held a parent-child financial education event with biima Inc.: “Oyako no Asobi to Manabi no Kyoshitsu Supported by SBI SECURITIES” Collaboration campaigns with well- known IP such as the popular picture book “Pandorobo,” and “Tabekko Dobutsu” to appeal to parent-child households Cash gift for opening an SBI Hyper Deposit account, plus a campaign adding 21.3% p.a. to the rate on 1- month JPY time deposits SBI Shinsei Bank Tie-up Media Business Tie-up Enhanced Financial Education Expanded Tools With pre-registration for Kodomo NISA now open, released a feature in the “SBI SECURITIES Plus” asset management app to view parent and child assets together
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35[Unauthorized reproduction is prohibited] 35 Developing and Selling “Zero-Kan,” a Global Equity Fund with 0% Trust Fee Exclusively for Kodomo NISA • A fund seeking to track the MSCI All Country World Index (with dividends, JPY-converted basis), sold exclusively by SBI SECURITIES • Part of the investment authority is delegated to U.S. State Street Investment Management, an SBI Group partner with advanced index management expertise Name SBI Zero All Country Index Fund Trust fee 0.00% (annual rate, tax included) Inception date Nov. 17, 2026 Purchase start date Available from the start of “Kodomo NISA” Overview of “Zero-Kan” As Part 4 of the “ZERO Revolution” promoted by SBI SECURITIES, the company seeks to appeal to parent-and-child asset-building households
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36[Unauthorized reproduction is prohibited] 36 Providing Lifelong Opportunities to Invest in Global Equities from Age 0 Through “Zero-Kan” and “SBI All Country” at the Industry’s Lowest Level* of Cost Ages 0 to 17 “Zero-kan” with zero trust fee Age 18 and over “SBI All Country” with the lowest-level trust fee *As an index fund seeking to track the same index (Source: SBI Asset Management) SBI All Country Initial solicitation began Oct. 19, 2026 (Mon.) Common to both funds Nov. 17, 2026 (Tue.) Fund inception and start of operations Zero-kan Applications begin Dec. 2026 (Purchases begin Jan. 2027)
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37[Unauthorized reproduction is prohibited] 37 (2) Further strengthen the “Open Alliance” strategy to acquire new customer bases ① Collaboration with SMBC Group centered on Olive ② Partnership with JR Kyushu through the provision of a super app
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38[Unauthorized reproduction is prohibited] 38 Olive Consulting, Jointly Provided by the SBI Group and SMBC Group, Expands Rapidly Assets Under Custody and Intermediary Accounts at Olive Consulting 0 50 100 150 200 250 300 0.0 0.5 1.0 1.5 2.0 2.5 3.0 May 2026 June 2026 July 2026 Aug. 2026 Sept. 2026 Oct. 2026 Assets under custody Intermediary accounts (Thousand accounts)(JPY trillion) Launched on May 26, 2026 (End of) JPY 2.54tn 281 thousand accounts Olive Consulting Olive Consulting Co., Ltd., a joint venture between SMBC Group and the SBI Group, offers a new digital asset management service that lets customers freely choose consultation channels and advisors based on their asset status and credit card rank and receive specialized consultation Oct. 29, 2026 ① Collaboration with SMBC Group centered on Olive
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39[Unauthorized reproduction is prohibited] 39 To Meet the Needs of Digital Affluent Customers Beyond Asset Management, Olive Consulting Launches a Referral Service for Partner Companies, Including SBI Group Companies • Through asset management consultations, a wide range of needs such as business succession, tax, real estate, and health have emerged • Olive Consulting identifies needs and refers customers to partner companies, including SBI Group companies • For SBI Group companies, this creates new points of contact with SMBC Group’s digital affluent customers Financial Non-financial Business succession Insurance Tax Real estate Art Learning Health Sumitomo Fudosan Step Yamada & Partners Tax Corporation Tsuji & Hongo Tax Corporation MITSUI FUDOSAN REALTY Next Solutions SBI Art Auction SBI Graduate School SBI Wellness Bank SBI Tsuji Hongo M&A ◆ Partner companies at the start of the service ① Collaboration with SMBC Group centered on Olive
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40[Unauthorized reproduction is prohibited] 40 Agreement in Principle Between the SBI Group and JR Kyushu Toward a Strategic Business Alliance (Announced Sept. 25, 2026) - Seeking to provide a financial super app that adds securities and other functions to BaaS, a first in the railway industry - Leveraging the “comprehensive financial platform,” which consolidates the SBI Group’s financial functions, the SBI Group is promoting the development and introduction of “JQ BANK” (tentative name), a financial super app exclusively for JR Kyushu Web members In “JQ BANK,” the SBI Group seeks to integrate its financial functions, centered on banking, securities, and insurance, with JR Kyushu’s railway, real estate, points, etc. Through the super app, the SBI Group seeks to gain access to JR Kyushu’s customer base in Kyushu, which is difficult for the SBI Group to reach on its own (number of Web members*: approx. 4.94m) *As of end of Aug. 2026 ② Partnership with JR Kyushu through the provision of a super app [JR Kyushu]
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41[Unauthorized reproduction is prohibited] 41 1. Financial Services Business: (3) Insurance Business • For 1H FY2026, consolidated results for the SBI Insurance Group (J-GAAP, preliminary figures) were driven by a steady increase in the number of policies in force across the Group, with ordinary revenue increasing 13.6% YoY to JPY 78.6bn, a record high • Reflecting the increase in ordinary revenue, ordinary profit increased 26% YoY to JPY 9.2bn, and profit attributable to owners of the parent increased 14.8% YoY to JPY 2.6bn, a record high • Recorded approx. JPY 14.4bn in equity in earnings of Kyobo Life Insurance (an equity-method affiliate of the Company, investment ratio: 20.42%) on an IFRS basis at SBI Holdings for 1H FY2026. Kyobo Life’s total assets were approx. JPY 17,380.6bn (as of the end of June 2026) [Major Constituent Companies] SBI Insurance Group, SBI Insurance, SBI Life Insurance, Small- amount short-term insurance companies, LY HOUR SBI Insurance, Kyobo Life Insurance [Business Highlights]
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42[Unauthorized reproduction is prohibited] 42 SBI Insurance Group’s Consolidated Performance (Preliminary Figures) *Final consolidated figures for 1H FY2026 to be released on Nov. 11 Consolidated results for 1H FY2026 (J-GAAP) 1H FY2025 (Apr. 2025 - Sept. 2025) Result 1H FY2026 (Apr. 2026 - Sept. 2026) Preliminary YoY change (%) Ordinary revenue 69.2 78.6 +13.6 Ordinary profit 7.3 9.2 +26.0 Profit attributable to owners of the parent 2.3 2.6 +14.8 1. (3) Insurance Business: (JPY billion) Record high Record high Record high
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43[Unauthorized reproduction is prohibited] 43 1.00 1.61 1.73 1.87 2.08 2.33 2.46 2.60 2.82 2.99 3.18 3.31 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 Mar. 2026 Sept. 2026 SBI IG CAGR (End of Mar. 2016 to end of Sept. 2026) 12.1% (Reference) Average of four major life insurance companies* (non-consolidated) (CAGR) (End of Mar. 2016 to end of June 2026) 1.3% Sept. 2020, SBI JOGUCHI SAFETY SSI joined the GroupJune 2019, SBI PRISM SSI joined the Group Sept. 2016, SBI Nihon SSI joined the Group (million contracts) Sept. 2023, SBI Pet SSI joined the Group End of Apr. 2025 Surpassed 3m contracts! 1. (3) Insurance Business: * Four major life insurance companies: Nippon Life Insurance Company, The Dai-ichi Life Insurance Company, Limited, Meiji Yasuda Life Insurance Company, Sumitomo Life Insurance Company SBI Insurance Group’s Total Number of Policies in Force
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44[Unauthorized reproduction is prohibited] 44 2. Asset Management Business [Asset Management Business Consolidated Results (IFRS)] [Business Highlights] [Major Constituent Companies] SBI Global Asset Management (SBIGAM), SBI Asset Management (SBIGAM subsidiary), Wealth Advisor (SBIGAM subsidiary), SBI Okasan Asset Management (SBIGAM subsidiary), Rheos Capital Works (SBIGAM subsidiary) • Against the backdrop of a strong stock market, with the Nikkei 225 rising approx. 30% from the end of Mar., and the growing adoption of the new NISA, the Group’s AUM expanded to JPY 13.9tn (+45.0% YoY). Revenue and profit before income tax expense both reached record highs for a first-half period • SBI Global Asset Management raised its interim dividend to JPY9.50 per share. For the year-end dividend, the basic policy is to continue increases for the 18th consecutive fiscal year 1H FY2025 (Apr. 2025 – Sept. 2025) 1H FY2026 (Apr. 2026 – Sept. 2026) YoY change (%) Revenue 18.6 26.2 +40.7 Profit before income tax expense 3.5 6.5 +87.9 Record high Record high (JPY billion)
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45[Unauthorized reproduction is prohibited] 45 Consolidated Results of SBI Global Asset Management (J-GAAP) (JPY billion) 1H FY2025 1H FY2026 YoY change (%) Revenue 7.3 27.0 +271.2 Ordinary income 1.8 6.7 +278.7 Profit attributable to owners of the parent 1.1 3.6 +240.3 Record High Record High Record High 2. Asset Management Business: (Note) SBI Okasan AM was made a consolidated subsidiary in Sept. 2025, and its results have been included since that month. In addition, SBIGAM absorbed SBI Rheos Hifumi in Dec. 2025 as the surviving company, and the results of Rheos Capital Works have been included since that month
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46[Unauthorized reproduction is prohibited] 46 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 14,000 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 Mar. 2019 Mar. 2020 Mar. 2021 Mar. 2022 Mar. 2023 Mar. 2024 Mar. 2025 Mar. 2026 Sept. 2026 *1 Exchange rates as of the end of each month are applied *2 Amounts are rounded to the nearest JPY 100m *3 Figures for SBI Global Asset Management Group companies (hereinafter “asset management companies”) are recorded under both investment trusts and investment advisory, and therefore include some overlap *4 Figures for asset management companies include publicly offered investment trusts, bond investment trusts, and privately placed investment trusts ← ← ← JPY 13,950.3bn(JPY billion) 2. Asset Management Business: SBI Global Asset Management Group’s AUM Reached Approximately JPY 14tn Rheos Capital Works JPY 1,724.7bn SBI Asset Management (including CARRET) JPY 9,530.5bn SBI Okasan Asset Management JPY 2,695.1bn -Targeting JPY 20tn During FY2026 and JPY 50tn by FY2029-
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47[Unauthorized reproduction is prohibited] 47 1H FY2025 (Apr. 2025–Sept. 2025) 1H FY2026 (Apr. 2026–Sept. 2026) YoY change (%) Revenue 141.1 181.3 +28.5 Profit before income tax expense 110.5 153.1 +38.5 Profit/loss from the change in fair value and profit/loss on sales of investment securities 115.0 155.6 +35.2 [PE Investment Business Consolidated Results (IFRS)] 3. PE Investment Business [Major Constituent Companies] SBI Investment, SBI Shinsei Corporate Investment, SBI Regional Business Succession Investment, Overseas PE investment companies (Unit: JPY billion)
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48[Unauthorized reproduction is prohibited] 48 IPOs and M&As of the SBI Group’s Investee Companies*1 *1 Direct investments from SBI Holdings, etc., as well as portfolio companies of domestic and overseas funds managed by PE investment companies *2 Listed on the OTC market in FY2025 and officially listed on TPEx in FY2026 *3 SPAC listing under the same company name *4 Listed via SPAC as Forge Nano Holdings, Inc. FY2025 Results FY2026 Prospects Number of Companies with IPOs/M&As, etc. 17 29 3. PE Investment Business: Listing Date Investee company Market Apr. 22, 2026 Innostar Service, Inc. TPEx*2 May 27, 2026 InPsytech, Inc. TPEx (OTC market) June 1, 2026 D-Fend Solutions AD Ltd. M&A June 26, 2026 AuthenX Inc TPEx (OTC market) July 2, 2026 Securitize Corp.*3 NYSE Aug. 4, 2026 every, Inc. TSE Growth Listing Date Investee company Market Aug. 24, 2026 Nearthlab Inc. KOSDAQ Sept. 18, 2026 Techno Craft Corporation TSE Standard Sept. 25, 2026 LAYERED Inc. TSE Standard Oct. 12, 2026 Evernorth Holdings Inc. *3 NASDAQ Oct. 22, 2026 Forge Nano, Inc.*4 NASDAQ Oct. 23, 2026 DTS Inc. KOSDAQ
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49[Unauthorized reproduction is prohibited] 49 Profit Contributions from Promising Investee Companies in Advanced Sectors Realized at 7 Companies in 1H, with 6 More Companies Expected in 2H • As of the beginning of the fiscal year, 13 investee companies were expected to make significant profit contributions in FY2026 • The portfolio spans a broad range of sectors and regions, making it less susceptible to any single market environment 3. PE Investment Business Unit: companies IPO M&A Fundraising Valuation in Secondary Transactions, etc. Total Recognized — 1 6 — 7 High Likelihood 2 — 1 1 4 Medium Likelihood — 1 1 — 2 Total 2 2 8 1 13 [FY2026 Profit Recognition Status and Likelihood by Profit Recognition Driver]
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50[Unauthorized reproduction is prohibited] 50 Distribution of XRP Partly Held by Ripple, an SBI Holdings Investee Company 3. PE Investment Business Max supply: 100bn XRP [Burned] (Amount burned as transaction fees) Approx. 0.01bn XRP [XRP Circulated in the Market] Approx. 63.35bn XRP (Market Capitalization: approx. JPY 13.3tn) [Ripple’s Holdings Currently Not in Circulation] (Equivalent to approx. JPY 7.6tn) [Actual XRP] Approx. 5.23bn XRP [Under Escrow] 31.4bn XRP *Quantities of XRP are as of Oct. 28, 2026, and market capitalization is calculated based on the XRP price on Oct. 28
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51[Unauthorized reproduction is prohibited] 51 3. PE Investment Business SBI Holdings’ Investee Evernorth, an XRP Treasury Company, Lists on NASDAQ Backed by investments from the SBI Group, Ripple and others, Evernorth listed on Oct. 12, 2026 (NASDAQ: XRPN) [Business Overview] Holds and manages XRP, seeking to increase XRP holdings per share, with Japan and South Korea as focus markets [XRP Holdings] Approx. 473m XRP Largest among listed companies*1 [Market Capitalization] Approx. JPY 140.0bn (Approx. USD 890m)*2 *1 Based on CoinGecko’s ranking of XRP holdings by listed companies (as of Nov. 2, 2026) *2 Calculated by SBI Holdings by multiplying the closing price on Oct. 22, 2026 by approx. 57.49 million shares of common stock outstanding (total of Class A and Class C) (as stated in the Form S-1 filed on Oct. 30, 2026; as of Oct. 22, 2026) (converted at USD1 = JPY158) *3 Shares held by SBI Holdings and its consolidated subsidiaries. Voting rights ratio is calculated against Class A shares; economic interest against the total of Class A and Class C shares [SBI Group’s Voting Rights Ratio] 36.1% Largest shareholder (economic interest: 20.5%) *3
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52[Unauthorized reproduction is prohibited] 52 Breakdown of operating investment securities by region Balance (JPY billion) Japan 283.4 China 6.6 South Korea 4.7 Southeast Asia 31.4 India 7.0 U.S. 497.2 Europe 82.1 Others 230.8 Total 1,143.2 Breakdown of operating investment securities by industry Balance (JPY billion) Internet/AI/IoT 196.6 Fintech services 85.6 Digital Asset/Blockchain 460.8 Finance 59.1 Biotechnology/Health/Medical 39.0 Environmental/Energy 177.8 Machine/Automobile 16.0 Services 28.2 Retail/Food 2.5 Materials/Chemicals 3.9 Construction/Real estate 13.2 Others 1.6 Equity interests in external and non- consolidated funds 58.9 Total 1,143.2 Private equity, etc. JPY 1,332.6bn *1 The private equity investment balance is calculated by adding the investment balance of funds, etc. that are not consolidated due to the Group’s low ownership ratio despite its involvement in their management as GP, etc. (e.g., CVC funds) to the consolidated balance of operating investment securities (including the balance of operating investment securities held in business segments other than the investment business) *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 Sept. 2026 *4 Amounts are rounded to the nearest JPY 0.1bn (Excluding JPY 351.0bn of both cash and commitment amount to be paid in) Assets Under Management of the SBI Group (As of the end of Sept. 2026) Investment from non-consolidated Group management funds Balance (JPY billion) Corporate venture capital (CVC) 40.5 Others (Overseas JV fund, etc.) 148.9 Total 189.4 3. PE Investment Business: (*1) (*2)
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53[Unauthorized reproduction is prohibited] 53 (JPY billion) 1H FY2025 (Apr. 2025- Sept. 2025) 1H FY2026 (Apr. 2026- Sept. 2026) YoY change (%) Revenue 33.0 23.1 -30.1 Profit before income tax expense -0.1 -1.6 - 4. Crypto-asset Business [Crypto-asset Business Consolidated Performance (IFRS)] [Major Constituent Companies / Business] SBI VC Trade, Bitbank, B2C2, etc. • The crypto asset market remained unstable throughout 1H, amid developments such as dimming prospects for the CLARITY Act to be enacted in the U.S. within the year • In Japan, Bitbank, which operates a crypto asset exchange, joined the Group in Aug. and became a wholly owned subsidiary on Oct. 1. The integration of the SBI VC Trade and BITPOINT services is also progressing, with a focus on building one of the largest crypto asset trading platforms in Japan [Business Highlights]
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54[Unauthorized reproduction is prohibited] 54 305 634 807 1,650 1,931 0 500 1,000 1,500 2,000 2,500 3,000 Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. Dec. Mar. June Sept. - Bitbank became a wholly owned subsidiary of SBI Holdings on Oct. 1, 2026 - Trends in the Number of the SBI Group’s Crypto Asset Accounts in Japan (Combined Total of VCTRADE, BITPOINT, and bitbank Services) 2025202420232022 2026 VCTRADE, BITPOINT, and bitbank: combined deposit balance of approx. JPY 1,111.6bn *As of Sept. 30, 2026 Mar. 2025 DMM Bitcoin accounts and custodial assets transferred to SBI VC Trade July 2022 BITPoint Japan joins the Group Aug. 2026 Bitbank joins the Group 3,050 SBI VC Trade: 2,030 Bitbank: 1,020 With Bitbank joining, the SBI Group’s number of accounts and customer assets under custody now rank among the industry leaders 4. Crypto-asset Business: (Thousand accounts)
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55[Unauthorized reproduction is prohibited] 55 5. Next Gen Business Revenue and profit before income tax expense increased in the Next Gen Business segment, with JPY 3.5bn in equity in earnings of affiliates from Mynavi, which became an equity-method affiliate in Nov. 2024 [Major Constituent Businesses] Biotechnology and healthcare businesses, Neo-media business, other businesses including Web3, Mynavi Corporation [Next Gen Business Segment Consolidated Results (IFRS)] [Business Highlights] 1H FY2025 (Apr. 2025 – Sept. 2025) 1H FY2026 (Apr. 2026 – Sept. 2026) YoY change (%) Revenue 14.3 26.2 +82.8 Profit before income tax expense 2.2 2.5 +12.2 Record high Record high (JPY billion)
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56[Unauthorized reproduction is prohibited] 56 II. Strategic initiatives being focused on in the current fiscal year 1. Intensively strengthening security measures toward making the SBI Group fully AI-driven 2. Focusing on building on-chain financial infrastructure toward realizing the SBI APAC Digital Economic Zone 3. The “Fourth Megabank Concept,” led by SBI Shinsei Bank as a wide-area regional platform provider, is making steady progress 4. Transforming the insurance industry through the integration of the Asset Management Business and the Insurance Business, improving the transparency of insurance cost structures and returning profits to policyholders through earnings growth from enhanced investment capabilities 5. Strongly promoting the building of a business foundation to realize the Neo-media concept
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57[Unauthorized reproduction is prohibited] 57 1. Intensively strengthening security measures toward making the SBI Group fully AI-driven (1) SBI Group counters increasingly AI-sophisticated cyberattacks with AI-powered multi-layered defense (2) Development of AI infrastructure and AX (AI transformation) projects toward becoming fully AI-driven are also progressing steadily
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58[Unauthorized reproduction is prohibited] 58 (1) SBI Group counters increasingly AI-sophisticated cyberattacks with AI-powered multi-layered defense ① Enhancing defense with Anthropic’s “Claude Mythos” ② Preparing for high-frequency AI-driven attacks with Eversafe’s dynamic defense
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59[Unauthorized reproduction is prohibited] 59 ① Enhancing Defense with Anthropic’s “Claude Mythos” - Further enhancing the existing defense system with high-performance AI - *“Claude Security” is a feature of “Claude Enterprise” Existing defense system Inspection • Each company operating its own systems conducts its own emergency inspections Mechanisms • Multi-layered advance checks on both cloud and web security platforms • Measures against spoofed emails Monitoring • Early detection and recovery through a 24/7 AI-powered security operations center Enhanced with high-performance AI “Claude Mythos” powers “Claude Security” (*), introduced across the SBI Group • Comprehensive AI inspection of source code vulnerabilities, with fixes implemented • Also utilizing features available only to organizations approved by Anthropic • Immediately available to each company through the Group’s common “Claude” platform Enhancement
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60[Unauthorized reproduction is prohibited] 60 [Case Study] SBI SECURITIES Diagnoses and Addresses Vulnerabilities with Multiple AIs - SBI SECURITIES makes full use of AI, prioritizing critical vulnerabilities - From Oct. 2026 ① Strengthening monitoring: Rapidly established a monitoring system that analyzes access logs with AI and automatically detects suspicious activity ② Comprehensive identification of vulnerabilities: Identifies weaknesses across entire programs with AI within days and continuously manages the implementation status of countermeasures ③ Combined use of multiple AIs: By combining different AI tools, complementarily detects vulnerabilities that a single tool cannot find Also using “Claude Mythos” for vulnerability diagnosis Also utilizing features available only to approved organizations Main AI applications: Using “Claude Security” for vulnerability diagnosis Adoption status of Anthropic’s AI tools: *Details of the diagnosis results and specific countermeasures are not disclosed for security reasons From July 2026
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61[Unauthorized reproduction is prohibited] 61 ② Preparing for High-Frequency AI-Driven Attacks with Eversafe’s Dynamic Defense [Attackers’ Methods and Eversafe’s Defense Mechanisms] 1. Analyze the service structure 2. Build the attack procedure 3. Automatically repeat at scale Eversafe defends at each stage of an attack Analysis prevention Makes it difficult to analyze the structure and behavior of apps and web services Dynamic defense (AI-MTD*) (33 related patents held in 11 countries) Constantly changes the defense structure, rendering analysis results unusable Server-side verification Determines whether access is from legitimate use and blocks automated attacks By constantly changing defenses and forcing attackers to redo their analysis, makes large-scale attacks exploiting AI economically unviable [Overview of Eversafe] ■ A security solution for apps and the web provided by SBI EVERSPIN Track record: Approx. 150 financial institutions in Japan and overseas Detection record: Approx. 30bn attacks detected on a cumulative basis *MTD: Moving Target Defense
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62[Unauthorized reproduction is prohibited] 62 (2) Development of AI infrastructure and AX (AI transformation) projects toward becoming fully AI-driven are also progressing steadily ① Developing an AI utilization platform across the entire SBI Group ② Cost reduction projects through AX are underway at SBI Group companies
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63[Unauthorized reproduction is prohibited] 63 ① Developing an AI Utilization Platform Across the Entire SBI Group - A Group-wide AX promotion structure launched in Apr. 2026 - AX promotion structure Top-down decision-making by management AX Committee / Review Board SBI CEOs and executives gather Centralizes decision-making, information sharing and issue discussion Group companies Promote AX initiatives Group-wide common AI platform Rolling out “Claude” to SBI Group companies 71 company Introduced at Group companies API integration with their own systems Integration with Microsoft 365 also being opened up in stages from Sept., improving the efficiency of email- and document-based operations Swiftly executing full AI-driven transformation across the Group through top-down decision-making and a Group-wide common AI platform 10 company
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64[Unauthorized reproduction is prohibited] 64 ② Cost Reduction Projects Through AX Are Underway at SBI Group Companies Triggered by the launch of these AX projects, efforts extending beyond AX to DX and operational reform are accelerating across the Group Company name Reduction target Examples of implementation methods SBIH Approx. JPY 1.3bn NDA review AI agent, overseas financial data analysis, company information management system SBI SECURITIES Approx. JPY 14.5bn AI chat, middle- and back-office automation, MCP (*) development SBI Shinsei Bank Approx. JPY 27.2bn AI-enabled contact center, review of meetings and branches SBI GAM Approx. JPY 2.8bn Reduction of operating costs, automation of disclosure documents SBI IG Approx. JPY 2.4bn AI call center automation, AI underwriting Group companies (total) Approx. JPY 48.2bn - - Expect cost reductions totaling approx. JPY 48.2bn (within three years) across SBI Group companies - * MCP (Model Context Protocol): A common connection standard that allows AI to securely connect to internal systems and data
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65[Unauthorized reproduction is prohibited] 65 2. Focusing on building on-chain financial infrastructure toward realizing the SBI APAC Digital Economic Zone (1) Developing on-chain-enabled exchanges in Japan and overseas as venues for trading digital assets (2) Developing and distributing tokenized financial products in Japan and overseas in collaboration with overseas partners (3) Promoting the distribution of JPYSC (a JPY- denominated stablecoin) in Japan and overseas SBI Group strives to develop next-generation financial infrastructure and to build the SBI APAC Digital Economic Zone
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66[Unauthorized reproduction is prohibited] 66 (1) Developing on-chain-enabled exchanges in Japan and overseas as venues for trading digital assets
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67[Unauthorized reproduction is prohibited] 67 Overseas Case ①: Robinhood Offers 24-Hour Trading of Tokenized Stocks on Its Own Chain Robinhood, a major U.S. online securities company (approx. 28m customers), began offering over 200 tokenized U.S. stocks and ETFs to customers in the EU in June 2025, and has since rapidly expanded to over 2,000 issues Robinhood built Robinhood Chain, an RWA-focused, AI-native Ethereum L2 based on Arbitrum, with its mainnet going live in July 2026 Offering U.S. stock-linked tokens that can be traded 24/7 in over 120 countries and regions through Robinhood Chain. Integrated with DeFi protocols such as Morpho, the tokens can also be used for collateral and yield generation A securities company with its own chain provides trading, collateral, and yield generation for tokenized stocks on an integrated basis
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68[Unauthorized reproduction is prohibited] 68 Overseas Case ②: Nasdaq Promotes Tokenized Trading of “Real Stocks” with Shareholder Rights The SEC approved tokenized trading of Russell 1000 constituents and major index ETFs in Mar. 2026 Traded with the same order book, price, and ticker as conventional shares, and voting rights, dividends, and other shareholder rights remain intact The tokenization service went into full operation in Oct. 2026, involving subsidiaries of the Depository Trust & Clearing Corporation (DTCC), which handles the majority of U.S. securities settlement. After trades are confirmed through the National Securities Clearing Corporation (NSCC), the Depository Trust Company (DTC) tokenizes the shares and delivers them to wallets Unlike Robinhood-style linked tokens, the stocks themselves are brought on-chain within the existing market framework
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69[Unauthorized reproduction is prohibited] 69 ③ Measures to Enhance Participant Convenience at Proprietary Trading Systems (PTS: Japannext and ODX) Co-managed by SBI Holdings 1 Proprietary trading system (PTS) Transition to an exchange Over 10% of total listed securities, etc. and Over 20% in any individual issue Japannext’s average daily trading value meets both transition criteria, and it is set to transition to an exchange in accordance with the rules 2 Requesting the authorities to establish a framework similar to Unlisted Trading Privileges (UTP) U.S.: UTP available Stocks listed on other exchanges can also be traded without listing procedures on the exchange itself Enhanced inter-market competition and liquidity Japan: No UTP After transitioning to an exchange, it can only handle stocks listed on its own market Risk of a significant reduction in tradable stocks 3 Toward a next-generation exchange for the on-chain era 24/7 trading and instant settlement Micro-trading Tokenization Stablecoin support Japannext Securities is considering a partnership with Nasdaq, which has cutting-edge technology and infrastructure, for its transition to a next-generation exchange ODX also moving on-chain Osaka Digital Exchange (ODX: established by the SBI Group) operates Japan’s first ST PTS, “START” (market capitalization of handled issues surpassed JPY 100.0bn in Oct. 2026)
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70[Unauthorized reproduction is prohibited] 70 ④ Building a global network of regulatory-compliant digital asset exchanges, centered on APAC (i) Coinhako, a major crypto asset exchange in Singapore, made a consolidated subsidiary and renamed SBI Coinhako (investment ratio: 51.69%) (ii) Investment ratio in Fasset, a strategic investee with a payment network in 125 countries and regions, raised to 20% (iii) Strategic capital and business alliance with Ajaib Group, one of Indonesia’s largest online multi-asset investment platforms (investment ratio: 20%) (iv) Planning to invest in one of the five candidates for crypto asset exchange licenses in Vietnam
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71[Unauthorized reproduction is prohibited] 71 Based in Singapore, where digital asset regulation is most advanced, building on-chain finance functions through partnerships with local companies: Startale, co-issuer of JPYSC; DigiFT, which tokenizes Japanese equity funds; SBI Digital Markets; and Asia Next Serves as the exchange that delivers JPYSC and other products to investors in global markets Combining JPYSC with USD-denominated USDC and RLUSD, endeavors to realize yen-dollar cross-border settlement through SBI Coinhako • Pioneer in digital assets in Singapore. Built a crypto asset platform with thorough regulatory compliance under one of the world’s most advanced regulatory environments • Operates through SBI Coinhako Technology, which holds a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), and Alpha Hako, registered with the BVI FSC (British Virgin Islands Financial Services Commission) (i) Coinhako, a Major Crypto Asset Exchange in Singapore, Made a Consolidated Subsidiary and Renamed SBI Coinhako (Investment Ratio: 51.69%) [Outline of SBI Coinhako Group]
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72[Unauthorized reproduction is prohibited] 72 (ii) Investment Ratio in Fasset, a Strategic Investee with a Payment Network in 125 Countries and Regions, Raise to 20% Fasset, headquartered in the UAE (Dubai), provides stablecoin-based remittance, payment and investment services across Asia, the Middle East and Africa Its proprietary payment infrastructure “Own Network” connects 16 blockchains and over 100 banking corridors. 125 countries and regions, over 3m wallets Basic agreement with SBI Remit to build next-generation international remittance infrastructure. Plans to jointly operate a digital bank in Malaysia and to jointly distribute tokens issued by Fasset Strengthened the capital relationship through an additional investment in a round lead by SBI Holdings. After completion of the Series C round, Fasset is scheduled to become an equity-method affiliate through the exercise of warrants May 2026 June 18, 2026 Aug. 24, 2026 Made a strategic investment SBI Remit reached a basic agreement to build international remittance infrastructure Decided on an additional investment led by SBI Holdings (valuation: USD 1bn)
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73[Unauthorized reproduction is prohibited] 73 (iii) Strategic Capital and Business Alliance with Ajaib Group, One of Indonesia’s Largest Online Multi- Asset Investment Platforms (Investment Ratio: 20%) Ajaib Group, based in Jakarta, began as an online securities brokerage and has grown into a multi-asset investment platform handling digital assets, including stablecoins and tokenized assets, in addition to traditional financial assets. Now used by more than 7m individual investors. Also provides wealth management services to bank customers through partnerships with local banks Beyond Indonesia, Ajaib Group plans to expand its presence in both the financial and digital domains across Southeast Asian countries with high proportions of young people and market growth expected from population increases Creating Group synergies in areas such as cross-border settlement using various digital assets and stablecoins, and distribution of tokenized products issued by the SBI Group and its partners Expanding the exchange network centered on Southeast Asia to promote the adoption of digital assets in the APAC region
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74[Unauthorized reproduction is prohibited] 74 (iv) Planning to Invest in One of the Five Candidates for Crypto Asset Exchange Licenses in Vietnam Annual crypto asset trading involving Vietnamese traders is over USD 200.0bn, and adoption ranks 4th in the world. Currently, much of the trading takes place on overseas exchanges (Reuters: Mar. 17, 2026) June 2025 Sept. 2025 Jan. 2026 Enacts the Law on Digital Technology Industry, legally defining crypto assets for the first time Launches a five-year pilot of the crypto asset market by government resolution Ministry of Finance begins accepting license applications for crypto asset exchanges Operating a crypto asset exchange in Vietnam is subject to strict conditions, including substantial capital and investment by financial institutions and technology companies Six months after the first license is granted, domestic investors trading outside licensed exchanges become subject to penalties Trading that previously flowed overseas is limited to licensed exchanges Five companies, including affiliates of major banks, securities companies and large corporate groups, passed the Ministry of Finance’s first-round screening, and the Company plans to invest in one of them Status of Crypto Asset Regulatory Development in Vietnam
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75[Unauthorized reproduction is prohibited] 75 (2) Developing and distributing tokenized financial products in Japan and overseas in collaboration with overseas partners ① Building a platform for the mutual distribution of tokenized financial products in Japan and overseas through alliances with leading overseas partners ② Partnering with BlackRock to promote initiatives related to tokenized MMFs tradable using JPYSC
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76[Unauthorized reproduction is prohibited] 76 ① Building a Platform for the Mutual Distribution of Tokenized Financial Products in Japan and Overseas Through Alliances with Leading Overseas Partners Partner Initiatives Digital asset exchange licensed by the Monetary Authority of Singapore (MAS) ■ Established SBI Onchain as a JV (Oct. 2025) ■ Tokenization of an equity fund, a first for a Japanese asset management company DigiFT tokenized the “SBI Japan High Dividend Equity Fund,” managed by SBI Asset Management, a subsidiary of SBI Global Asset Management, as “JX” on Solana Settlement in USDC, with JPYSC support planned going forward No. 1 market share (approx. 50%) in the U.S. tokenized stock market ■ Basic agreement toward a strategic partnership (July 2026) Utilizing JPYSC for settlement and as collateral on Ondo Listing Japanese tokenized assets on Ondo, and offering Ondo’s token products in Japan Solana Foundation ■ SBI Solana Global, to become a JV (announced July 2026) Supporting the structuring and distribution of stablecoins and tokenized RWAs Developing services for institutional investors and next-generation payment infrastructure Launched GOLDX, Southeast Asia’s first tokenized gold fund A Swiss foundation promoting “Solana,” which has a dominant presence in the RWA market
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77[Unauthorized reproduction is prohibited] 77 ② Partnering with BlackRock to Promote Initiatives Related to Tokenized MMFs Tradable Using JPYSC SBI Holdings and Startale reached a basic agreement with BlackRock on collaboration between tokenized MMFs and the JPY-denominated stablecoin “JPYSC” Technology and infrastructure Subscribing to and redeeming tokenized MMFs with stablecoins Mutual exchange on-chain Business and sales Leveraging the SBI Group’s customer base and sales network Developing new customer segments in Japan and overseas Regulation and market development Utilizing tokenized MMFs as backing assets Developing regulatory frameworks for the tokenization of investment trusts Startale BlackRock Customer base and regulatory compliance Web3 technology infrastructure Expertise in tokenized MMFs Tokenized MMFs × JPYSC Considering collaboration in three areas
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78[Unauthorized reproduction is prohibited] 78 (3) Promoting the distribution of JPYSC (JPY-denominated stablecoin) in Japan and overseas
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79[Unauthorized reproduction is prohibited] 79 ① Requesting the Government’s Early Application of Tax Measures for JPY-Denominated Trust-Type Stablecoins to Enable Public Distribution In its “Requests for FY2027 Tax Reform” (published Aug. 2026), the Financial Services Agency (FSA) requested measures concerning trust-type stablecoins (specified trust beneficial interests) Current system When there is a change in beneficiary , the trustee (trust bank) submits a “Statement by Beneficiary Concerning Trusts” (Inheritance Tax Act) and a “Statement of Trust Accounts” (Income Tax Act) to the tax office Issue As the stablecoins circulate among an unspecified large number of users, the trustee cannot identify beneficiaries’ names or changes in beneficiaries (and no income from holding them is expected) Request Measures such as eliminating the requirement to submit the above statements Enabling public distribution With the GENIUS Act set to take effect in the U.S. in Jan. 2027, Japan stands at a crossroads over whether it will fall behind in the international competition among regulatory frameworks for stablecoins As there is no time to lose in responding to global developments, strongly urging the government to apply the measures for public distribution from Jan. 1, utilizing ministerial ordinances and other means
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80[Unauthorized reproduction is prohibited] 80 ② Sumitomo Mitsui Financial Group (SMFG) Takes an Equity Stake in SBI Startale Marketing, Which Promotes the Adoption of JPYSC Concluded a basic agreement with SMFG toward a partnership in the stablecoin field Striving for the integration of JPYSC into SMFG’s “Olive” to create new financial services utilizing stablecoins and other means Expanding the “SMBC-SBI Alliance” (since 2022) into the digital asset field Startale SMFG Joint venture Equity participation SBI Startale Marketing (Responsible for promoting the adoption of JPYSC) Toward building next-generation payment infrastructure utilizing JPYSC and other means together with SMFG (5%) (55%) (40%)
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81[Unauthorized reproduction is prohibited] 81 ③ Participating in Open Standard, Which Promotes the USD-Denominated Stablecoin OUSD (Open USD) - Considering Interoperability Connecting the Yen and the Dollar - SBI Holdings and Startale have joined “Open Standard,” which promotes the adoption of the USD-denominated stablecoin “Open USD (OUSD),” with over 140 companies participating, including Visa, Stripe, Mastercard, BlackRock, and Coinbase Considering a proof of concept for interoperability between the JPY-denominated “JPYSC” and the USD-denominated “OUSD” Following the launch of OUSD, striving to make JPY-USD settlement faster and more efficient SBI Group has already begun handling USDC and RLUSD, the first in Japan to do so. Expanding collaboration with leading overseas stablecoins Transactions that transcend national borders and currency barriers are at the core of the SBI APAC Digital Economic Zone Startale Participation Open Standard
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82[Unauthorized reproduction is prohibited] 82 ④ Promoting Proof of Concept for Japan-Korea Cross-Border Transactions Using Stablecoins with Leading Korean Financial Institutions SBI Group Korean partners Initiatives Kyobo Life Insurance Verifying cross-border transactions of JPY-denominated stablecoins on the Canton Network NICE Information & Telecommunication DSRV Verifying stablecoin QR code payments by travelers to Korea through Korean merchant networks KB Kookmin Card Everspin Verifying cross-border transactions linking Japanese AI agents with Korean payment services Shinhan Card On the XDC Network, considering cross-border payments using stablecoins and methods of integration with existing financial and payment infrastructure
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83[Unauthorized reproduction is prohibited] 83 ⑤ Striving to Make JPYSC a JPY-Denominated Stablecoin Also Recognized in the U.S. [U.S. Framework] GENIUS Act (enacted July 2025; to take effect Jan. 2027) From July 2028, stablecoins that can be handled on U.S. exchanges, etc. will be limited to those issued by approved issuers A path is also open for foreign issuers to circulate stablecoins in the U.S. if they meet the following three conditions 1. Regulatory equivalence The U.S. Department of the Treasury determines that the home country’s regulations are equivalent to the GENIUS Act (within 210 days of the request) 2. Registration with the OCC Register with the Office of the Comptroller of the Currency (OCC) and become subject to reporting and examinations 3. Reserve assets in the U.S. Hold reserve assets at U.S. financial institutions sufficient for redemptions to U.S. users [SBI Group’s Initiatives] Engaging Japanese and U.S. authorities toward recognition of the equivalence of Japan’s trust-type stablecoin framework Seeking to make JPYSC the first JPY-denominated stablecoin compliant with the GENIUS Act and to circulate it on U.S. exchanges and payment networks Accelerating the internationalization of the yen, starting with circulation in the U.S.
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84[Unauthorized reproduction is prohibited] 84 3. The “Fourth Megabank Concept,” led by SBI Shinsei Bank as a wide-area regional platform provider, is making steady progress (1) Building a robust collaboration framework with regional banks, with SBI Shinsei Bank at the core (2) Promoting SBI Shinsei Bank’s transformation into a digital bank in anticipation of the on-chain shift of finance “Fourth Megabank Concept” Seeking to become a a wide-area regional platform provider with SBI Shinsei Bank of the SBI Group at its core, by pursuing the benefits of greater efficiency and an expanded business scope through broad-based collaboration between the SBI Group and regional financial institutions nationwide, regardless of capital relationships
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85[Unauthorized reproduction is prohibited] 85 (1) Building a robust collaboration framework with regional banks, with SBI Shinsei Bank at the core
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86[Unauthorized reproduction is prohibited] 86 The Fukushima Bank and The Shimane Bank Became Equity-Method Affiliates of SBI Shinsei Bank (June 30, 2026) Voting rights ratio • SBI Shinsei Bank: 34.19% • Fund Operated by the SBI Group: 1.07% SBI Shinsei Bank further plans to subscribe for preferred shares with no voting rights in a third-party allotment capital increase by The Shimane Bank in Dec. 2026 (total investment: JPY 10.0bn) Voting rights ratio • SBI Shinsei Bank: 20.91% • Fund Operated by the SBI Group: 13.08% [The Fukushima Bank][The Shimane Bank] * As of the end of Sept. 2026
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87[Unauthorized reproduction is prohibited] 87 SBI Shinsei Bank Is Promoting Sales of the Financial Products It Arranges to Regional Financial Institutions Financial institutions transacted with: 56 institutions / Results: 149 deals, JPY 179.6bn Sustainable finance: JPY 418.0bn arranged, with sales to regional financial institutions also growing steadily Financial institutions transacted with: 21 institutions / Results: 184 deals, JPY 12.9bn Sales results of arranged products in this 1H SBI Shinsei Bank has built a collaboration framework with 58 regional financial institutions in areas such as syndicated loans and structured finance, providing opportunities for regional financial institutions to take a more proactive role
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88[Unauthorized reproduction is prohibited] 88 Collaboration with Regional Financial Institutions Is Steadily Taking Shape in Various Forms • Introduction and adoption decided at 6 financial institutions (Introduced: The Fukushima Bank, The Shimane Bank Adoption decided: SBI Shinsei Bank, THE SENDAI BANK, Kirayaka Bank, THE TOWA BANK) • At The Fukushima Bank, operational volume for certain back-office functions was reduced by 50%, while the product development cycle was shortened to about one-sixth compared with the previous system (from six months to one month). In addition, personnel at headquarters and branch counters were reallocated to customer-facing and sales activities, contributing to improved profitability • Through system standardization, adopting banks are able to collaborate on product development and related initiatives by leveraging the knowledge and expertise of SBI Shinsei Bank, enabling rapid and cost-efficient implementation [The Cloud-based Core Banking System for Financial Institutions, the “Next-generation Banking System”] [Personnel Exchanges] [Syndicated Loans] • The Joyo Bank: LBO financing for a food service company arranged by the bank • Aichi Bank: Green loan for leased assets related to solar power generation and energy-saving equipment, etc. Accepted a cumulative total of 64 trainees from 32 regional financial institutions since FY2022, centered on the Structured Finance Division
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89[Unauthorized reproduction is prohibited] 89 (2) Promoting SBI Shinsei Bank’s transformation into a digital bank in anticipation of the on-chain shift of finance ① Positioning and expanding SBI Shinsei Trust & Banking as the core of the SBI Group’s digital finance domain ② Endeavoring to evolve further by leveraging the expertise and networks of the SBI Group’s overseas partners and investee companies
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90[Unauthorized reproduction is prohibited] 90 This trend is expected to spread to Japan as well, making SBI Shinsei Bank’s transformation into a digital bank indispensable As SBI Shinsei Bank evolves into a digital bank and provides on-chain financial functions to regional financial institutions, the “Fourth Megabank Concept” advances to the next stage In the U.S., Where the On-Chain Shift of Finance Is Progressing Ahead of Japan, the Introduction of Stablecoins, etc. Is Advancing Even at Small Financial Institutions Such as Community Banks [Case Study in the U.S.] In Sept. 2026, Moov, which provides payment infrastructure to over 1,000 community banks and credit unions in the U.S., announced a partnership with crypto asset exchange Coinbase ⇒ Moov provides its customers, small financial institutions, with functions such as acceptance and settlement of stablecoin payments and real -time funding
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91[Unauthorized reproduction is prohibited] 91 ① Positioning and Expanding SBI Shinsei Trust & Banking as the Core of the SBI Group’s Digital Finance Domain - Merger with SBI Clearing Trust Scheduled for Dec. 31 - Issuer of the stablecoin “JPYSC” (Issuance started in June 2026) A scheme not subject to the JPY 1m cap on transfer and holding amounts, which can also be used for large-value fund transfers in addition to individual and corporate payments Upon realization of public distribution, seeking to transform into next-generation financial infrastructure through expansion into international remittance, tokenized asset settlement, etc. Became the first trust company in Japan to accept trusts of crypto assets (spot) (Started in July 2023) Possesses knowledge and expertise in trust and custody services for digital assets SBI Shinsei Trust & Banking (Surviving Company) SBI Clearing Trust (Absorbed Company) SBI Shinsei Trust & Banking After the Merger Issuance of stablecoins Custody services for various digital assets and tokens Able to provide diverse financial infrastructure functions such as the above
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92[Unauthorized reproduction is prohibited] 92 ② Endeavoring to evolve further by leveraging the expertise and networks of the SBI Group’s overseas partners and investee companies
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93[Unauthorized reproduction is prohibited] 93 Agreed in Principle on a Partnership with CRB Group, the Parent of U.S.-Based Cross River Bank, Which Provides Embedded Finance CRB Group, Inc. [Strategic Alliance Partner: Overview of CRB Group] Founded in 2008, headquartered in New Jersey, U.S. Provides embedded finance for fintech companies, centered on Cross River Bank, which is supervised by the Federal Deposit Insurance Corporation (FDIC). Supports major U.S. payment networks such as ACH (Automated Clearing House Network), RTP® (Real-Time Payments network) and FedNow® Has also built infrastructure for agentic commerce (payments initiated by AI agents) Strategic investment in CRB Group Plans to roll out real-world asset (RWA) tokenization, cross-border payments, and agentic commerce in Japan and APAC through a joint venture to be established in Japan, leveraging CRB’s expertise in embedded finance infrastructure Endeavoring to offer the SBI Group’s on-chain financial products, such as JPYSC, through CRB’s platform
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94[Unauthorized reproduction is prohibited] 94 Investment in Erebor Bank, a U.S. Digital Bank Co-founded in 2025 by Palmer Luckey (founder of Anduril and Oculus), Owen Rapaport (co-founder and CEO) and others Obtained a U.S. a U.S. national bank charter and opened in Feb. 2026 Deposits surpassed USD 7.0bn within eight months of opening Main customers include companies in the AI, defense, advanced manufacturing and crypto asset industries [Investee: Overview of Erebor Bank] Seeking to strengthen the business foundation in the U.S. through investment in a rapidly growing U.S. digital bank Considering a wide range of collaboration with the SBI Group’s financial businesses In-house core banking system supporting blockchain settlement Supports deposits and withdrawals of stablecoins Settlement available anytime, including weekends and after hours
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95[Unauthorized reproduction is prohibited] 95 4. Transforming the insurance industry through the integration of the Asset Management Business and the Insurance Business, improving the transparency of insurance cost structures and returning profits to policyholders through earnings growth from enhanced investment capabilities (1) Changing the conventional wisdom of the insurance industry by disclosing loading premiums and other costs (2) Realizing in Japan the “investment × insurance” model spreading overseas, and seeking to expand assets under management
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96[Unauthorized reproduction is prohibited] 96 SBI Global Asset Management and SBI Insurance Group to Integrate Their Operations Absorption-type merger with SBI GAM as the surviving company 3.53 shares of SBI GAM to be allotted and delivered for each share of SBI IG Scheduled to take effect on Apr. 1, 2027 (SBI IG scheduled to be delisted on Mar. 30) Listing on the Prime Market of the Tokyo Stock Exchange to be maintained after the integration SBI Global Asset Management SBI Insurance Group (Surviving company, TSE Prime Market) (Dissolving company, TSE Growth Market) - Promoting cost disclosure to consumers and the return of investment income to policyholders through integrated management of “investment” and “insurance” -
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97[Unauthorized reproduction is prohibited] 97 (1) Changing the conventional wisdom of the insurance industry by disclosing loading premiums and other costs ① SBI Group is changing industry practices in insurance, following securities and banking ② Breaking industry practice by disclosing the cost structure, including loading premiums, for its own insurance products
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98[Unauthorized reproduction is prohibited] 98 ① SBI Group Is Changing Industry Practices in Insurance, Following Securities and Banking Current state of the industry SBI Group’s Answer Cost ・ Sales network centered on face- to-face channels and agencies ・ Personnel expenses and commissions passed on to premiums ・ Industry-lowest-level premiums through direct sales ・ Investment income and efficiency gains applied to reducing premiums Trans- parency ・ Cost structures such as loading premiums are in principle not disclosed ・ Products cannot be compared ・ Discloses cost structures such as loading premiums ・ Shows “what you pay for and how much”, as with investment trusts Products ・ Designed from the seller’s perspective ・ Investment and insurance sit in separate companies with separate decision- making ・ Products designed from an investment starting point ・ Rebuilds operations with AI to fundamentally transform costs
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99[Unauthorized reproduction is prohibited] 99 - Toward a market where consumers can properly compare and choose insurance products - ② Breaking Industry Practice by Disclosing the Cost Structure, Including Loading Premiums, for Its Own Insurance Products Composition of insurance premiums (illustrative) Costs are not visible Net premium Sales costs Personnel expenses System costs, etc. To be discl- osed Previously SBI Group’s insurance Three effects of disclosure Consumers Understand the cost structure of premiums and choose with confidence Industry Toward a sound competitive environment where companies can be compared by whether they disclose SBI Group Rebuilds operations with AI and returns the benefits to policyholders
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100[Unauthorized reproduction is prohibited] 100 (2) Realizing in Japan the “investment × insurance” model spreading overseas, and seeking to expand assets under management ① Extending “from savings to investment” to insurance and pensions, approx. one-quarter of household financial assets ② “Investment × insurance” model led by major asset managers is spreading overseas ③ Creating a virtuous cycle through integrated management of investment and insurance, with part of investment income returned to policyholders and beneficiaries ④ Using “investment × insurance” as a growth engine, striving to reach AUM of JPY 50tn in 2030
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101[Unauthorized reproduction is prohibited] 101 From savings to investment ① Extending “From Savings to Investment” to Insurance and Pensions, Approx. One-Quarter of Household Financial Assets End of Mar. 2023 JPY 2,043tn (100%) JPY 1,107tn (54.2%) Approx. JPY 342tn (16.7%) Approx. JPY 535tn (26.2%) End of June 2026 JPY 2,519tn (100%) JPY 1,132tn (44.9%) JPY 717tn (28.5%) JPY 586tn (23.3%) From deposits and savings to insurance and pensions Funds shifting from deposits and savings to investment trusts and stocks Growing needs for savings- type and annuity insurance with asset-building functions SBI Group promotes a shift of funds from deposits and savings to sophisticated investment products such as variable annuities [Changes in the Breakdown of Household Financial Assets] Supporting household asset building through the integration of asset management and insurance 3. Offering investment-driven insurance products Cash and deposits Stocks, investment trusts, etc. Insurance, pensions, etc. 1. Launch of the new NISA (Jan. 2024) 2. Arrival of a world with interest rates Source: Bank of Japan, “Flow of Funds Accounts”
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102[Unauthorized reproduction is prohibited] 102 ② “Investment × Insurance” Model Led by Major Asset Managers Is Spreading Overseas Since 1967 Berkshire Hathaway (U.S. investment company) Establishes the “Buffett model” of investing insurance premiums (Float: approx. USD 176.0bn) Jan. 2022 Apollo Global Management (Major alternative asset manager) × Athene Holding Makes a U.S. annuity insurer a wholly owned subsidiary May 2022 Brookfield (Canadian investment company) × American National Acquires a U.S. insurer Dec. 2023 Fairfax Financial (Major Canadian financial group) × Gulf Insurance Group Makes a major Kuwaiti insurer a consolidated subsidiary Jan. 2024 KKR (PE fund) × Global Atlantic Makes a U.S. life and annuity insurer a wholly owned subsidiary Adopting in Japan the “Buffett model” of expanding investment scale by leveraging insurance liabilities *As of the end of 2025 - In the U.S., major asset managers grow AUM and corporate value through integration with insurance -
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103[Unauthorized reproduction is prohibited] 103 ③ Creating a Virtuous Cycle Through Integrated Management of Investment and Insurance, with Part of Investment Income Returned to Policyholders and Beneficiaries [Creating a Virtuous Cycle Across the Entire SBIGAM Group] Accumulation of long-term funds (insurance liabilities) Improving investment income with the Group’s investment capabilities Returning to policyholders and beneficiaries through lower premiums and trust fees Growth in policyholders and assets under management Greater efficiency by rebuilding operations with AI [Leveraging Asset Management Capabilities for Insurance] 1. Integrated management of assets and liabilities Seeking to enhance asset liability management (ALM) and improve investment income, and returning the results through lower insurance premiums and investment trust fees 2. Investment-driven product design Determining the investment content, etc. of separate accounts for variable annuities and insurance by integrating portfolio construction and insurance design, directly reflecting asset management capabilities in insurance product competitiveness 3. Thorough commitment to fiduciary duty Comparing and evaluating asset managers inside and outside the Group using the same criteria, and disclosing outsourcing status and costs
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104[Unauthorized reproduction is prohibited] 104 ④ Using “Investment × Insurance” as a Growth Engine, Striving to Reach AUM of JPY 50tn in 2030 [AUM of SBI Global Asset Management Group] Approx. JPY 14tn End of Sept. 2026 JPY 20tn End of Mar. 2027 target JPY 50tn FY2029 target Approx. 3.6x [Three Drivers of AUM Growth] 1 Managing the Group’s insurance assets Through the integration, managing the assets of Group insurance companies in an integrated, investment-driven manner 2 M&A of insurance companies Expanding investment scale by bringing in insurance liabilities, which are long-term balances unlikely to be surrendered 3 Joint ventures with major overseas firms Establishing joint ventures with KKR, Franklin Templeton and State Street to develop products Strengthening investment capabilities to accelerate the growth of long-term funds accumulated through insurance
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105[Unauthorized reproduction is prohibited] 105 5. Strongly promoting the building of a business foundation to realize the Neo-media concept (1) Promoting diverse initiatives for the acquisition, creation and development of IP (intellectual property), a strategic asset (2) Livedoor Co., Ltd. to become a wholly owned subsidiary to build a fair, impartial and global information platform (3) Creating new customer touchpoints by hosting and sponsoring live events - Integrated initiatives for IP creation, enhanced reliability of information and expansion of customer touchpoints -
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106[Unauthorized reproduction is prohibited] 106 (1) Promoting diverse initiatives for the acquisition, creation and development of IP (intellectual property), a strategic asset ① Expansion of IP investment and IP creation and development functions ② Expanding the IP creation and development platform through partnerships with leading companies
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107[Unauthorized reproduction is prohibited] 107 SBI Group Mobilizes Its Full Strength to Build an IP Creation Support Model in Japan <Challenges facing Japan’s IP industry> Creators Limited growth and earning opportunities Publishers and media InvestorsProduction companies Constraints on production resources and financial strength Insufficient capacity for domestic and international expansion Acquiring, creating and developing IP that can continuously create value across diverse businesses and markets is essential to the growth of the SBI Group’s Neo- media Business Japan’s IP industry faces various challenges, with a structure in which IP itself is difficult to create ⇒ SBI Group fully leverages its management resources to address the challenges facing Japan’s IP industry , and strives to build a system that continuously generates IP Lack of IP valuation methods and investment expertise All financial functions, centered on banking, securities and insurance Investment expertise cultivated since the Group’s founding Customer base of over 89m accounts and network in Japan and overseas Building the “Neo-media Ecosystem” with diverse assets and functions, including content and IP, talent agencies, production and distribution, and investment and financing
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108[Unauthorized reproduction is prohibited] 108 Launch of the New Project “CONTENT INNOVATION” (Tentative Name) to Create and Develop IP in Japan - Building a system that brings together the knowledge and expertise of experts to continuously discover and develop IP that can succeed globally - SBI Neo Content Investment LP Supporting production and development by supplying JPY 100bn-scale funding Neo-media Ecosystem Producing, distributing and monetizing IP through co- creation with approx. 40 partners Alliance JVs Commercialization utilizing JVs with YOSHIMOTO KOGYO HOLDINGS, FMH, etc. General Producer: Mr. Yasushi Akimoto Under the General Producer, experts in each IP field are selected and appointed as Specialist Producers. Through auditions, competitions, etc., the discovery of new projects and creators is promoted Basic Philos ophy IP value starts with the original work An excellent worldview, characters and stories are the source of IP Great talent attracts even greater talent Striving to create an environment that generates this cycle Start with what is close at hand Investing in great talent attracts the next great talent Promising IP discovered and developed through this project will be recommended to and linked with the SBI Group, with the SBI Group striving toward full-scale commercialization “CONTENT INNOVATION” (Content Creation and Development Platform) Project In addition to creating IP from scratch, new uses of existing IP (IP’ [dash]) are also pursued Creators’ growth is also supported through advice and talent introductions by the General Producer and Specialist Producers
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109[Unauthorized reproduction is prohibited] 109 ① Expansion of IP investment and IP creation and development functions
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110[Unauthorized reproduction is prohibited] 110 400 companies listed across the two funds. Meetings already held with approx. 150 companies, and investments decided for over 10 promising candidates SBI Neo Content Investment LP Total commitment capital: JPY 100bn (planned) Accelerating Investment in the IP Field Directly or Through Funds SBI Group strives toward the expansion of promising IP and IP creation and development functions, etc. Film Games Music Books Artists Cool Japan-SBI Content Investment Limited Partnership: JPY 12.5bn in total Track record of investments in approx. 3,000 companies in Japan and overseas Through the Neo-media Business, investments in or alliances with companies with strong IP and IP creation functions, such as THE CORE, TWIN PLANET and Twin Engine, have been completed Investments in or alliances with approx. 40 companies already completed
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111[Unauthorized reproduction is prohibited] 111 The “Neo-Media Ecosystem” Has Already Built an IP Creation and Development Platform Through Investments A team of engineers specializing in Unreal Engine, CG production and game development Creates in-house original IP such as the “TINY METAL” series and “FELICITY’S DOOR” Integrated IP/talent management and marketing Has a diverse roster of talent, and plans and operates IP events such as “Tabekko Dobutsu LAND” Operates sports management, event production and promotion businesses Creating multifaceted IP value starting from athlete support Owns over 20 IP and entertainment- related companies, including Tokuma Shoten and Shufunotomo Handles everything in-house, from the discovery of original IP to visual adaptation and overseas distribution THE CORE (equity-method affiliate) (equity-method affiliate) Second Career (equity-method affiliate) Culture Entertainment Group (equity-method affiliate) Ecosystem constituent companies build co-creation relationships and provide comprehensive support for IP on an integrated basis <Examples of Neo-media Ecosystem constituent companies> TWIN PLANET
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112[Unauthorized reproduction is prohibited] 112 ② Expanding the IP creation and development platform through partnerships with leading companies
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113[Unauthorized reproduction is prohibited] 113 Strategic Business Alliance with YOSHIMOTO KOGYO HOLDINGS CO., LTD. (Announced Oct. 14, 2026) - Establishing a JV to create and develop entertainment IP originating from Japan and expand it worldwide - SBI Group strives toward new IP creation and global expansion by combining its business foundation and network centered on finance with YOSHIMOTO KOGYO HOLDINGS’ IP and talent assets centered on “comedy” and expertise in content production, among other strengths ■ Details of the Business Alliance Establishment of a joint venture to drive the alliance Utilization of the SBI Neo Content Investment LP Maximization of IP value by leveraging the “Neo-media Ecosystem” and domestic and overseas networks Regional revitalization through the creation of locally originated content
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114[Unauthorized reproduction is prohibited] 114 Specific Measures of Strategic Capital and Business Alliance with Fuji Media Holdings, Inc. (FMH) (Announced Nov. 2, 2026) 50% 50% Establishment of a joint venture centered on the “Real Media*” field As a holding company, the joint venture plans to establish subsidiaries for each business area sequentially Idol-related business Starting from live events, promoting the creation of idol culture in Japan and its global expansion (First phase) JV *A concept that regards “venues” where people actually gather and share experiences, such as live performances and events, as media that deliver content and IP and continuously deepen engagement with customers Joint creation of large-scale video content, etc., with a view to global expansion Joint research and business development in content financing Second and subsequent phases are planned to be promoted sequentially etc. Cutting-edge expertise in digital finance Customer base of over 89m accounts Network spanning Japan and overseas Communication power leveraging its broadcasting platform Content planning and production, and producing events and IP [Fuji Media Holdings, Inc.]
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115[Unauthorized reproduction is prohibited] 115 Building a Fan Platform that Contributes to the Creation and Development of IP in Japan Through Co-Creation Between SBI Group and FMH Group Further expanding the domestic fan platform and expanding it globally in stages to grow both groups’ customer bases and create earning opportunities, while contributing strongly to the creation, development and globalization of Japanese IP The FMH Group has hosted “TOKYO IDOL FESTIVAL” (TIF), one of Japan’s largest idol events, since 2010 (TIF2026: approx. 89 thousand participants; 212 groups, 1,495 idols performed) By offering artists discovered through auditions, etc., opportunities to participate in live events such as TIF and to appear in Fuji Television programs, multifaceted and ongoing touchpoints with fans are created SBI Group leverages its digital finance functions (stablecoin payments, fan token issuance, etc.) and its overseas network centered on APAC to fully support the globalization of Japanese artists and domestic events such as TIF
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116[Unauthorized reproduction is prohibited] 116 SBI Group and Culture Entertainment Group Inc. Jointly Hold the Film Project Competition “SBI×CEG CREATORS’ PROGRAM” - Discovering next-generation creators and supporting the growth of content from Japan - Inherits the philosophy of the “TSUTAYA CREATORS’ PROGRAM,” which discovered numerous films and creators (held from 2015 to 2022) For award-winning works, supports everything from project development and production toward film adaptation to domestic and international expansion and IP utilization After the films are released, IP monetization and value enhancement are also expected through security token issuance, merchandise development, event hosting, etc.
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117[Unauthorized reproduction is prohibited] 117 (2) Livedoor Co., Ltd. to Become a Wholly Owned Subsidiary to Build a Fair, Impartial and Global Information Platform Operates “livedoor News,” one of Japan’s largest general news sites, and the blog service “livedoor Blog” Total monthly users of approx. 100m and cumulative social media followers of over 30m Expanding alliances with overseas news agencies, newspapers, etc. by leveraging the SBI Group’s overseas network, etc., toward becoming a global information platform Strengthening assurance of the impartiality and reliability of information through AI-powered fact-checking, labeling, etc., as articles are delivered automatically by the system “livedoor News” is a news portal site that publishes news distributed mainly by external contracted media outlets such as newspapers, news agencies and web media
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118[Unauthorized reproduction is prohibited] 118 (3) Creating new customer touchpoints by hosting and sponsoring live events
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119[Unauthorized reproduction is prohibited] 119 Cumulative attendance at hosted events over 10 years: approx. 690 thousand people (as of the end of Sept. 2026) • “SBI Mai Hanabi,” a new type of fireworks festival combining music, fireworks and spatial production, held across Japan • “SBI MUSIC CIRCUS,” one of Japan’s largest music festivals Turning participants’ excitement into voluntary promotion of the SBI brand ① Creating Brand Touchpoints Through Live Events Such as “SBI Mai Hanabi” as “Experiences People Want to Talk About” Rather than as Advertising At “SBI Mai Hanabi in Osaka Sennan,” held in Sennan, Osaka in Aug. 2026, a drone show using 4,000 drones, the largest scale in Japan, was performed
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120[Unauthorized reproduction is prohibited] 120 ② Participation in “TOKYO GIRLS COLLECTION” (TGC), One of Japan’s Largest Fashion Events • TGC is one of Japan’s largest fashion events for young people, planned and operated by capital and business alliance partner W TOKYO (cumulative participants: over 8m, in-person and online combined) • W TOKYO launched the “TGC Regional Revitalization Project” in 2015 and holds TGC in cities across Japan. It promotes regional revitalization initiatives such as showcasing local specialties • SBI Group has already sponsored TGC in Matsuyama City, Kitakyushu City and Toyama Cityas title sponsor. At TGC Toyama, the “DREAM RUNWAY AUDITION” is held, in which participants who pass the audition can walk the runway on the day of TGC SBI GROUP presents TGC TOYAMA 2026 by TOKYO GIRLS COLLECTION (scheduled for Sat., Nov. 21, 2026)
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121[Unauthorized reproduction is prohibited] 121 Sponsoring the Las Vegas GP to simultaneously gain global enthusiasm and global business touchpoints Leveraging F1’s overwhelming media value as well as its network value as a gathering place for companies, investors and high-net-worth individuals from around the world, toward raising awareness of the SBI brand and creating new business opportunities F1 is the world’s premier sports entertainment IP, with a fan base of over 800m worldwide and races held in countries around the world throughout the year The “Las Vegas Grand Prix” is city-integrated entertainment staged in the heart of Las Vegas, one of the world’s leading entertainment cities, combining urban spaces, visual production, fan experiences, etc. to draw attention and enthusiasm from around the world ⇒ A representative example of “the city as media,” in which the city itself becomes a giant medium that generates and disseminates enthusiasm, leading to diverse value and opportunities ③ Sponsoring the FIA Formula One World Championship “Las Vegas Grand Prix” (to Be Held in Nov. 2026)
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122[Unauthorized reproduction is prohibited] 122 [Reference Materials]
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123[Unauthorized reproduction is prohibited] 123 0 500 1,000 1,500 2,000 2,500 3,000 Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. 2023 2024 2025 2026 (Thousand accounts) 0 50 100 150 200 250 300 350 400 450 500 Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. Nov. Jan. Mar. May July Sept. 2023 2024 2025 2026 Number of Accounts among Major FX Trading Companies (End of Sept. 2023 - End of Sept. 2026) Customer Margin Deposits among Major FX Trading Companies (End of Sept. 2023 - End of Sept. 2026) SBI Group Is the Top in the Industry for Numbers of FX Accounts and Margin Deposits Securities Business: (JPY billion) SBI Group(*1) Gaitame.com(*3) GMO Group (*2) Hirose Tusyo SBI Group(*1) Gaitame.com(*3) GMO Group (*2) Hirose Tusyo Source: Compiled by SBI Holdings from the information on websites and disclosures of each company (*2) Combined figures of GMO CLICK Securities, GMO Gaika and GMO Coin (merged with FX PRIME byGMO in Sept. 2023; figures combined from Jan. 2024, the first month for which figures are disclosed), shown as “GMO Group” (*3) Gaitame.com transferred the FX service accounts of the former Money Partners to the company on June 28, 2025 (*1) “SBI Group” includes FX accounts of SBI SECURITIES, SBI FXTRADE, and MONEY SQUARE (which joined the SBI Group in Aug. 2025) (End of) (End of)
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124[Unauthorized reproduction is prohibited] 124 1,280 0 300 600 900 1,200 Nov. May Nov. May Nov. May Nov. May Nov. May Nov. May Nov. May Nov. May Nov. May SBI SECURITIES 2017 2019 2021 2023 2025 *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) SBI SECURITIES Continues to Enhance the Convenience of Its Individual-Type Defined Contribution Pension (iDeCo) and Maintains Its Position as the Industry Leader in Cumulative Customer Number [Cumulative Number of Customers (Subscribers & Transfers*) of iDeCo by Planning Administrator] (End of Nov. 2017 – End of Aug. 2026) Company A Company C Company D Company B (thousand) 2024202220202018 2026(End of) Securities Business:
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125[Unauthorized reproduction is prohibited] 125 Striving to Further Expand iDeCo and Corporate- Type DC Plans Administered by SBI Benefit Systems, as a Strategic Product 121 1,629 0 500 1,000 1,500 Mar. 2016 Mar. 2018 Mar. 2020 Mar. 2022 Mar. 2024 Mar. 2026 CAGR (End of Mar. 2016 - End of Sept. 2026） 28.1% (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 3,257 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Mar. 2016 Mar. 2018 Mar. 2020 Mar. 2022 Mar. 2024 Mar. 2026 CAGR (End of Mar. 2016 - End of Sept. 2026） 46.4% (JPY billion) (End of) SBI SECURITIES made iDeCo administrative fees completely free of charge on May 19, 2017, to further expand iDeCo business Corporate type DC has 23,037 entrusted business locations and over 250 thousand participants as of the end of Sept. 2026 Securities Business: (End of)Sept. 2026 Sept. 2026
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126[Unauthorized reproduction is prohibited] 126 Announcement date Company name ① Dec. 22, 2022 gumi ② Nov. 25, 2024 Mynavi ③ July 18, 2025 TWIN PLANET ④ Aug. 22 CoinPost ⑤ Sept. 10 Brangista ⑥ Sept. 12 Ridge-i ⑦ Sept. 12 THE CORE ⑧ Sept. 30 SBI MUSIC CIRCUS ⑨ Oct. 31 Hawk Group ⑩ Dec. 26 SBI LuaaZ ⑪ Dec. 29 Linkties Holdings Major Constituent Companies and Alliance Partners of the Neo-media Ecosystem : Listed company Announcem ent date Company name ⑫ Jan. 8, 2026 INCS toenter ⑬ Jan. 14 Culture Entertainment Group ⑭ Mar. 26 Startale ⑮ Mar. 27 W TOKYO ⑯ Mar. 30 SBI Star Music Entertainment ⑰ Mar. 30 Second Career ⑱ Mar. 31 Tokyu Fudosan Holdings ⑲ May 19 Brave group ⑳ May 19 Moi ㉑ May 19 Livedoor ㉒ May 19 Twin Engine Announcement date Company name ㉓ June 1 DENTSU / Dentsu Digital ㉔ June 26 Fuji Media Holdings ㉕ July 29 GENDA ㉖ Oct. 14 YOSHIMOTO KOGYO HOLDINGS Red: Consolidated subsidiaries Blue: equity-method affiliates Investees of SBI Neo Content Investment LP / Cool Japan- SBI Fund: 10 companies* Examples of investees ORIGRESS Inc., OSHIAI Inc., New Chat Inc., emole Inc. *As of the end of Sept. 2026 / Includes companies with informal investment commitments and investments in Neo-media Ecosystem constituent companies
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127[Unauthorized reproduction is prohibited] 127 0 10 20 30 40 50 60 70 80 90 (Million) SBI Group’s Customer Base Has Expanded Dramatically Breakdown of the Customer Base (as of the end of Sept. 2026) *1,2 (Million) SBI SECURITIES, FOLIO, and SBI Neotrade Securities (No. of accounts) 16.9 SBI Holdings InsWeb (No. of customers) 11.7 E-Loan (No. of customers) 4.1 SBI Shinsei Bank (No. of retail accounts) 4.6 Wealth Advisor (Total no. of service users) *3 1.4 SBI Insurance (Total no. of contracts) 1.5 SBI Life Insurance (Total no. of contracts) *4 0.8 SBI ARUHI (No. of housing loan servicing creditors) *5 0.3 Others 11.3 Domestic total 52.6 TP Bank (No. of retail accounts) 18.3 Kyobo Life Insurance (No. of in-force policyholders) 4.1 Other overseas financial services businesses 14.2 Overseas total - 36.6 Domestic customer base: approx. 52.6 million Overseas financial services business’ customer base: approx. 36.6 million *1 Customers not identified as the same person within each service website, and customers overlapping among Group companies, are double-counted *2 Customer numbers of companies that left the Group due to reorganization are also excluded from past figures *3 Number of downloads of the smartphone app provided by Wealth Advisor. Information provision to users ended at the end of Oct. 2026 *4 The number of policies in force at SBI Life Insurance includes the number of insured persons under group credit life insurance *5 The number of housing loan servicing creditors at SBI ARUHI includes those from the business acquired from Yuryo Jutaku Loan and proprietary loans 78.4 89.2 82.6 Sept. 2025 Mar. 2026 Sept. 2026
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128[Unauthorized reproduction is prohibited] 128 48.6 35.2 33.9 33.6 31.6 31.4 27.6 24.3 23.1 24.5 21.4 21.5 0.8 11.2 10.3 10.2 17.7 17.6 19.2 26.5 26.0 25.9 24.2 23.2 3.8 2.8 6.8 5.7 5.0 6.3 0 20 40 60 80 100 End of Mar. 2022 End of Mar. 2023 End of Mar. 2024 End of Mar. 2025 End of Mar. 2026 End of Sept. 2026 Changes in Shareholder Composition Ratio Others Domestic institutional investors Foreign investors (%) Domestic corporations *1 Treasury shares are included in the number of shareholders holding share units *2 Treasury shares are included in “Others” Shareholders: 290,814, of which 215,182 hold share units*1 Institutional ownership (Japan and overseas): 56.8% *2 Individuals Shareholder Composition of SBI Holdings (As of the end of Sept. 2026) Overview of the Group:
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129[Unauthorized reproduction is prohibited] 129 End of Mar. 2026 End of Sept. 2026 Consolidated subsidiaries (companies)* 681 747 Consolidated partnerships (partnerships) 59 68 Total consolidated subsidiaries (companies) 740 815 Equity-method companies (companies) 78 86 Total Group companies (companies) 818 901 End of Mar. 2026 End of Sept. 2026 Total employees 18,669 18,500 Number of SBI Group Companies and Consolidated Employees Number of Group Companies Number of Employees (Consolidated) Overview of the Group: *Includes special purpose companies (SPCs) 100% owned by SBI Leasing Services (end of Mar. 2026: 264 companies; end of Sept. 2026: 320 companies)
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130[Unauthorized reproduction is prohibited] 130 https://www.sbigroup.co.jp