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© 2025 Japan Exchange Group, Inc. October 29, 2025 Japan Exchange Group, Inc. Overview of Earnings for Q2 FY2025
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© 2025 Japan Exchange Group, Inc. 2 81,810 89,322 35,022 38,917 47,718 51,279 32,308 34,553 FY2024 Q2 FY2025 Q2 FY2024 Q2 FY2025 Q2 FY2024 Q2 FY2025 Q2 FY2024 Q2 FY2025 Q2 Highlights Operating Revenue Operating Income Net Income * 9.2 ％ UP 7.5 ％ UP 6.9 ％ UP (JPY mil.) Operating Expenses 11.1 ％ UP * Net income attributable to owners of the parent company.
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© 2025 Japan Exchange Group, Inc. 3 Information Services +241 Listing Services +50 • All revenue categories increased due to the lively Japanese stock market. • Revenue from deposited collateral assets related to interest rate swap transactions, etc. contributed significantly to the increase in clearing services revenue. Operating Revenue Trading Services +1,287 (JPY mil.) Other +114 Clearing Services +5,603 81,810 89,322 ‒ Initial/Additional Listing Fees : (353) ‒ Annual Listing Fees : +403 y/y +7,511 (+9.2%) ‒ Cash Equities : +2,495 ‒ Financial Derivatives : (903) ‒ Commodity Derivatives : (304) FY2024 Q2 FY2025 Q2 System Services *1 +214 - arrownet Usage Fees : +6 - Co-location Usage Fees : +257 - Others *2 : (50) *1 In FY2025, the breakdown of operating revenue was revised to six categories with the addition of “System Services Revenue.” “arrownet Usage Fees,” “Co-location Usage Fees,” and a portion of “Others,” which were included under “Other Operating Revenue” until FY2024, are now displayed under “System Services Revenue.” *2 Revenue from system development and operations, etc. - Revenue from deposited collateral assets related to int erest swap transactions, etc. : +5,072
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© 2025 Japan Exchange Group, Inc. 4 • Other operating expenses increased due to an increase in the amount returned to clearing participants for deposited collateral assets related to interest rate swap transactions, etc. *1 and a decrease in “software carryover” *2 resulting from the launch of new systems such as arrowhead 4.0. Operating Expenses (JPY mil.) Other +3,830 Real Estate-related Expenses *3 +55 Personnel Expenses (13) System Maintenance & Operation Expenses +162 Depreciation & Amortization (138) 35,022 FY2024 Q2 FY2025 Q2 *1 The amount of the revenue from deposited collateral assets related to interest swap transactions, etc. which has been returned to clearing participants is recorded under other operating expenses. *2 A process in which expenses for system development are transferred to assets. Following the launch of new systems such as arrowhead 4.0 in FY2024, the transfer amount decreased in FY2025, resulting in an increase of other operating expenses. *3 A portion of real estate-related expenses, which are reported under depreciation in line with IFRS 16, Leases, is included under "Real Estate-related Expenses" in this chart. y/y +3,895 (+11.1%) 38,917 - Expenses from deposited collateral assets related to interest swap transactions, etc. : +2,531
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© 2025 Japan Exchange Group, Inc. 5 Trading Services Revenue Trading Services Revenue Transaction Fees (JPY mil.) Average Daily Trading Value/ Trading Volume y/y FY2025 FY2024 y/y FY2025 FY2024 Q2 Q2 Q2 Q2 +9.6% 24,223 22,099 +9.5% 6.28 tril.5.74 tril. Cash Equities (16.9%) 4,324 5,203 (18.6%) 46 mil. contracts 57 mil. Contracts Financial Derivatives* (7.8%) 869 943 (10.6%) 8.6 (10,000 contracts) 9.6 (10,000 contracts) TOPIX Futures (Large) (21.8%) 1,702 2,176 (27.1%) 13.5 (10,000 contracts) 18.5 (10,000 contracts) Nikkei 225 Futures (Including mini and micro*) (4.4%) 1,090 1,140 (4.9%) JPY 23.9 bil.JPY 25.1 bil. Nikkei 225 Options (17.2%) 969 1,171 (17.3%) 4.1 (10,000 contracts) 5.0 (10,000 contracts) 10-year JGB Futures (34.5%) 577 881 (25.0%) 633 (10,000 contracts) 844 (10,000 contracts) Commodity Derivatives* • Trading services revenue increased due to an increase in trading of cash equities. • Trading volume and transaction fees for major derivatives products decreased due to a decline in trading following the surge in volatility in April 2025. 33,479 34,767 FY2024 Q2 FY2025 Q2 Trading Value, Trading Volume and Transaction Fees of Major Products (JPY mil.) * In line with the contract unit of each, the trading volumes of mini contracts and micro contracts are calculated using factors of 1/10 and 1/100, respectively.
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© 2025 Japan Exchange Group, Inc. 6 5.7 6.0 5.8 6.1 5.2 5.9 5.6 6.0 6.3 6.8 5.7 6.9 FY2024 April FY2025 April FY2024 May FY2025 May FY2024 June FY2025 June FY2024 July FY2025 July FY2024 August FY2025 August FY2024 September FY2025 September Prime Market (Auction of Domestic Stocks) Market Trends (Cash Equities) Cash Equities Average Daily Trading Value (JPY tril.) Average Daily Trading Value by Market Division (J PY) FY2025 FY2024 y/y Q2 Q2 +6.9% 4.75 tril.4.44 tril. Prime Market Domestic Stocks Auction +39.7% 186.4 bil.133.4 bil.Standard Market +59.7% 203.7 bil.127.6 bil. Growth Market (17.9%) 248.1 bil.302.1 bil. ETFs/ETNs +24.6% 859.6 bil.690.0 bil. Off-auction +9.5% 6.28 tril.5.74 tril. Cash Equities (auction/off-auction) Total* * Average daily trading value of auction and off-auction trades of common stock on the Prime, Standard, and Growth Markets and TOKYO PRO Market, as well as ETFs/ETNs/REITs, etc.
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© 2025 Japan Exchange Group, Inc. 7 Market Trends (Derivatives) Monthly Trading Volume (100mil. contracts) Average Daily Trading Volume/Value of Major Products (Trading volume : 10,000 contracts) Financial derivatives FY2025 FY2024 y/y Q2 Q2 (10.6%) 8.6 9.6 TOPIX Futures (Large) (25.9%) 6.0 8.1 Nikkei 225 Futures (Large) (29.1%) 70.3 99.1 Nikkei 225 mini (4.9%) JPY 23.9 bil.JPY 25.1 bil.Nikkei 225 Options (17.3%) 4.1 5.0 10-year JGB Futures (19.8%) 196 mil. Contracts 244 mil. Contracts Total Trading Volume for Financial Derivatives (18.6%) 46 mil. Contracts 57 mil. Contracts Converted into large- sized contracts* (25.6%) 3.3 4.5 Gold Futures (standard) (23.5%) 0.4 0.6 Platts Dubai Crude Oil Futures (26.2%) 832 1,127 Total Trading Volume for Commodity Derivatives (25.0%) 633 844 Converted into large- sized contracts* (Ref.) Nikkei VI (Avg.) 0.44 0.49 0.38 0.30 0.38 0.31 0.46 0.29 0.47 0.28 0.40 0.35 -100 -90 -80 -70 -60 -50 -40 -30 -20 -10 0 10 20 30 0.0 0.1 0.2 0.3 0.4 0.5 0.6 FY2024 April FY2025 April FY2024 May FY2025 May FY2024 June FY2025 June FY2024 July FY2025 July FY2024 August FY2025 August FY2024 September FY2025 September * In line with the contract unit of each, the trading volumes of mini contracts and micro contracts are calculated using factors of 1/10 and 1/100, respectively.
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© 2025 Japan Exchange Group, Inc. 8 * Except convertible bonds • Revenue from deposited collateral assets related to interest rate swap transactions, etc. increased significantly. • In addition, the increase in obligations assumed for cash equities, etc. and interest rate swaps contributed to the increase in clearing services revenue. Clearing Services Revenue 0 100 200 300 JGB OTC Transactions Clearing Services Revenue 17,455 23,059 FY2024 Q2 FY2025 Q2 0 2 4 6 8 0 50 100 TOPIX Futures Nikkei 225 Futures (Large) Nikkei 225 Options 10-year JGB Futures 0 1,000 2,000 3,000 Interest Rate Swap (JPY tril.) (Ref.) Average Daily Obligations Assumed for Other Major Products (1,000 contracts (Nikkei 225 Options : 10 bil. yen) ) (Trades) (JPY tril.) (Ref.) Average Daily Obligations Assumed for Cash Equities, etc.* ■ FY2024 Q2 ■ FY2025 Q2 ■ FY2024 Q2 ■ FY2025 Q2 (JPY mil.)
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© 2025 Japan Exchange Group, Inc. 9 7,851 7,902 FY2024 Q2 FY2025 Q2 • Annual listing fees increased due to an increase in assets under management resulting from domestic ETF prices exceeding the previous years’ prices as of the calculation of annual listing fees (end of each year). Listing Services Revenue Listing Services Revenue (JPY mil.) y/y FY2025 Q2 FY2024 Q2 (22.5%) 1,215 1,568 Initial/Additional Listing Fees 6.4% 6,686 6,283 Annual Listing Fees 0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 FY2024 Q2 FY2025 Q2 IPOs REITs Offerings to shareholders and Private placements Public Offerings (excluding IPOs) (JPY tril.) (Ref.) Amount of Financing Breakdown of Listing Services Revenue (JPY mil.)
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© 2025 Japan Exchange Group, Inc. 10 6,641 6,855 FY2024 Q2 FY2025 Q2 • Information services revenue increased due to an increase in market information usage fees resulting from the expanded use of market data. Information Services Revenue & System Services Revenue Information Services Revenue (JPY mil.) 16,039 16,280 FY2024 Q2 FY2025 Q2 System Services Revenue (JPY mil.) y/y FY2025 Q2 FY2024 Q2 +0.4% 1,801 1,794 arrownet Usage Fees +8.8% 3,194 2,937 Co-location Usage Fees (2.6%) 1,859 1,909 Others * (Ref.) TOPIX Average Breakdown of System Services Revenue 2,200 2,400 2,600 2,800 3,000 FY2024 Q2 FY2025 Q2 (Pts) * Revenue from system development and operations, etc. (JPY mil.) • System services revenue increased due mainly to an increase in the usage of co-location services.
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© 2025 Japan Exchange Group, Inc. 11 FY2025 (Forecast) FY2024 Change from the Sep. 24 forecast Revised on Oct. 29 (Revised on Sep. 24) +0.6% 176,000 175,000 162,230 Operating Revenue (JPY mil.) No change 80,500 80,500 75,071 Operating Expenses (JPY mil.) +1.0% 96,500 95,500 90,122 Operating Income (JPY mil.) +0.8% 65,000 64,500 61,092 Net Income (JPY mil.) (Attributable to owners of the parent company) -JPY 63.09 JPY 62.60 JPY 58.72 Earnings Per Share No change JPY 50.0 JPY 50.0 JPY 45.5 Dividend Per Share *1 -Approx. 80% Approx. 80% 77.5% Dividend Payout Ratio FY2025 Forecast Average daily trading volume/value of major products FY2025 (Forecast) FY2024 Change from the Sep. 24 forecast Revised on Oct. 29 (Revised on Sep. 24) No change JPY 6 tril.JPY 6 tril. JPY 5.7032 tril. Cash Equities (trading value) *2 +1.1% 88,000 contracts 87,000 contracts 88,182 contracts TOPIX Futures (trading volume) (0.7%) 147,000 contracts 148,000 contracts 164,642 contracts Nikkei 225 Futures (trading volume) *3 No change JPY 24.0 bil.JPY 24.0 bil. JPY 21.4 bil. Nikkei 225 Options (trading value) No change 44,000 contracts 44,000 contracts 48,267 contracts 10-year JGB Futures (trading volume) *1 A 2-for-1 stock split was conducted effective October 1, 2 024. To facilitate comparison with the dividend per shar e forecast for FY2025, the dividend per share for FY202 4 has been calculated with the interim dividend amount for FY2024 divided by two. *2 Average daily trading value of auction and off-aucti on trades of common stock on the Prime, Standard, and Gr owth Markets and the TOKYO PRO Market, as well as ETFs/ET Ns/REITs, etc. *3 Includes Nikkei 225 mini contracts (calculated using a fact or of 1/10) and Nikkei 225 Micro Futures contracts (calculat ed using a factor of 1/100). As Nikkei 225 Micro Futures co ntracts have been included from the FY2025 forecast, they have been added into the trading volume for FY20 24. • As operating revenue, operating income, and net income for the period are expected to exceed those in the earnings forecast announced on September 24, 2025, the earnings forecast has been revised as follows.
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12 © 2025 Japan Exchange Group, Inc. Reference Materials
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© 2025 Japan Exchange Group, Inc. 13 ■Quarterly Business Performance * A portion of real estate-related expenses, which are reported under depreciation in line with IFRS 16, Le ases, is included under "Real Estate-related Expenses" in this chart. Referential Financial Data FY2025 FY2024 FY2025 FY2024 y/y Apr. – Sep. Apr. – Sep. y/y Q2 Q1 Q4 Q3 Q2 Q1 +9.2% 89,322 81,810 +10.6% 45,871 43,451 40,638 39,781 41,482 40,328 Operating Revenue +3.8% 34,767 33,479 +1.7% 17,410 17,356 15,715 15,319 17,125 16,354 Trading Services Revenue +32.1% 23,059 17,455 +40.0% 12,393 10,665 8,452 8,537 8,852 8,602 Clearing Services Revenue +0.6% 7,902 7,851 +1.1% 4,141 3,760 5,005 4,452 4,097 3,754 Listing Services Revenue +1.5% 16,280 16,039 +4.0% 8,211 8,069 7,948 7,911 7,893 8,146 Information Services Revenue +3.2% 6,855 6,641 +3.5% 3,450 3,404 3,301 3,326 3,334 3,307 System Services Revenue +33.6% 457 342 +47.3% 262 194 215 233 178 163 Other Operating Revenue +11.1% 38,917 35,022 +14.3% 20,014 18,903 21,942 18,106 17,511 17,510 Operating Expenses (0.1%) 11,216 11,229 +2.0% 5,783 5,432 6,947 5,563 5,671 5,558 Personnel Expenses +1.6% 10,315 10,152 +2.5% 5,195 5,119 5,100 5,239 5,070 5,081 System Maintenance & Operation Expenses (1.9%) 7,128 7,267 +0.1% 3,569 3,559 3,664 3,694 3,566 3,700 Depreciation & Amortization +2.3% 2,455 2,400 +5.1% 1,261 1,194 1,193 1,197 1,200 1,199 Real Estate-related Expenses +96.4% 7,801 3,971 +110.0% 4,203 3,598 5,036 2,412 2,001 1,969 Other +7.5% 51,279 47,718 +6.6% 26,046 25,233 20,680 21,723 24,427 23,291 Operating Income +6.9% 34,553 32,308 +6.0% 17,523 17,029 14,124 14,659 16,539 15,768 Net Income (Attributable to owners of the parent company) +6.6% 60,673 56,935 +6.3% 30,808 29,865 25,420 26,456 28,973 27,962 EBITDA (JPY mil.) ■(Reference) Operating Expenses Applying IFRS 16 "Leases" (JPY mil.) FY2025 FY2024 y/y Q2 Q1 Q4 Q3 Q2 Q1 +2.0% 5,783 5,432 6,947 5,563 5,671 5,558 Personnel Expenses +2.5% 5,195 5,119 5,100 5,239 5,070 5,081 System Maintenance & Operation Expenses +1.3% 4,558 4,490 4,598 4,628 4,500 4,634 Depreciation & Amortization +2.3% 273 262 259 263 266 265 Real Estate-related Expenses +110.0% 4,203 3,598 5,036 2,412 2,001 1,969 Other +14.3% 20,014 18,903 21,942 18,106 17,511 17,510 Personnel Expenses
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© 2025 Japan Exchange Group, Inc. 14 Referential Financial Data ■Quarterly Operating Revenue FY2025 FY2024 FY2025 FY2024 Apr. – Sep. Apr. – Sep. Q2 Q1 Q4 Q3 Q2 Q1 y/y Ratio +3.8% 38.9% 34,767 33,479 17,410 17,356 15,715 15,319 17,125 16,354 Trading Services Revenue +3.3% 29,125 28,185 14,621 14,504 13,018 12,683 14,430 13,755 Transaction Fees +9.6% 83.2% *1 24,223 22,099 12,479 11,744 10,527 10,490 11,287 10,812 Cash Equities (16.9%) 14.8% *1 4,324 5,203 1,890 2,434 2,252 1,918 2,795 2,408 Financial Derivatives (7.8%) 869 943 423 446 402 384 494 449 TOPIX Futures (21.8%) 1,702 2,176 759 943 931 796 1,128 1,047 Nikkei 225 Futures *2 (4.4%) 1,090 1,140 466 624 459 339 726 413 Nikkei 225 Options (17.2%) 969 1,171 466 502 554 511 566 605 10-year JGB Futures - (307) (228) (224) (82) (96) (113) (121) (107) Others (34.5%) 2.0% *1 577 881 252 325 237 274 347 534 Commodity Derivatives (0.7%) 478 482 239 239 240 241 240 241 Basic Fees +8.7% 3,087 2,841 1,508 1,579 1,425 1,390 1,463 1,377 Access Fees +6.0% 2,025 1,910 1,017 1,007 1,004 980 958 951 Trading System Facilities Usage Fees (17.6%) 50 60 24 25 25 23 32 28 Others +32.1% 25.8% 23,059 17,455 12,393 10,665 8,452 8,537 8,852 8,602 Clearing Services Revenue +0.6% 8.8% 7,902 7,851 4,141 3,760 5,005 4,452 4,097 3,754 Listing Services Revenue (22.5%) 1,215 1,568 799 416 1,635 1,080 976 592 Initial/Additional Listing Fees +6.4% 6,686 6,283 3,342 3,344 3,370 3,372 3,121 3,161 Annual Listing Fees +1.5% 18.2% 16,280 16,039 8,211 8,069 7,948 7,911 7,893 8,146 Information Services Revenue +3.2% 7.7% 6,855 6,641 3,450 3,404 3,301 3,326 3,334 3,307 System Services Revenue +0.4% 1,801 1,794 904 896 881 877 904 889 arrownet Usage Fees +8.8% 3,194 2,937 1,623 1,571 1,470 1,490 1,474 1,462 Co-location Usage Fees (2.6%) 1,859 1,909 923 936 948 958 955 954 Others *3 +33.6% 0.5% 457 342 262 194 215 233 178 163 Other Operating Revenue +9.2% 100.0% 89,322 81,810 45,871 43,451 40,638 39,781 41,482 40,328 Total *1 Figures indicate percentage of Transaction Fees. *2 Inclu des Nikkei 225 mini and micro. *3 Revenue from system development and operations, etc. (JPY mil.)
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© 2025 Japan Exchange Group, Inc. 15 ■Annual Business Performance *1*2 Referential Financial Data FY2024 FY2023 FY2022 FY2021 FY2020 162,230 152,871 133,991 135,432 133,343 Operating Revenue 64,515 61,585 53,089 53,196 53,171 Trading Services Revenue 34,445 32,885 28,008 27,945 27,939 Clearing Services Revenue 17,309 15,590 13,666 15,736 16,660 Listing Services Revenue 31,899 29,763 27,597 27,175 24,128 Information Services Revenue 13,269 12,066 10,915 10,819 11,002 System Services Revenue 791 981 715 559 441 Other Operating Revenue 75,071 71,554 67,502 63,220 61,394 Operating Expenses 23,740 22,396 19,599 19,048 19,255 Personnel Expenses 20,492 19,099 16,931 14,984 13,524 System Maintenance & Operation Expenses 14,625 14,562 15,557 14,364 13,632 Depreciation & Amortization 4,792 4,871 4,687 4,391 4,372 Real Estate-related Expenses 11,420 10,624 10,727 10,431 10,609 Other 90,122 87,444 68,253 73,473 74,565 Operating Income 61,092 60,822 46,342 49,955 51,389 Net Income (Attributable to owners of the parent company) 108,812 105,811 87,275 91,025 91,594 EBITDA (JPY mil.) *1 A portion of real estate-related expenses, which are reported under depreciation in line with IFRS 16, L eases, is included under "Real Estate-related Expenses" in this chart.. *2 Expense recording classifications have been partially chan ged from the FY2022 financial results due to the establ ishment of JPX Market Innovation & Research, Inc. (system de velopment-related costs previously included in “other” under operating expenses are now included in p ersonnel expenses and system maintenance & operation expe nses).
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© 2025 Japan Exchange Group, Inc. 16 As of Sep. 30,2025 As of Mar. 31,2025 Liabilities and equity Liabilities Current liabilities 5,932 5,813 Trade and other payables 32,500 32,500 Bonds and loans payable 72,011,986 77,647,699 Clearing business financial liabilities 6,694,494 7,292,039 Deposits from clearing participants 547 577 Legal guarantee funds 10,827 10,274 Trading participant security money 16,677 15,454 Income tax payables 11,986 9,962 Other current liabilities 78,784,952 85,014,321 Total current liabilities Non-current liabilities 19,990 19,987 Bonds and loans payable 8,201 7,999 Retirement benefit liabilities 4,856 3,294 Other non-current liabilities －11 Deferred tax liabilities 33,048 31,292 Total non-current liabilities 78,818,000 85,045,613 Total liabilities Equity 11,500 11,500 Share capital 38,929 38,935 Capital surplus (24,110) (4,305) Treasury shares 529 536 Other components of equity 298,418 294,157 Retained earnings 325,266 340,823 Total equity attributable to owners of the parent company 11,492 10,324 Non-controlling interests 336,758 351,148 Total equity 79,154,759 85,396,761 Total liabilities and equity *2 *3 *1 *4 Referential Financial Data ■Consolidated Statement of Financial Position As of Sep. 30,2025 As of Mar. 31,2025 Assets Current assets 105,499 98,428 Cash and cash equivalents 17,137 19,790 Trade and other receivables 72,011,986 77,647,699 Clearing business financial assets 6,694,494 7,292,039 Specified assets for deposits from clearing participants 547 577 Specified assets for legal guarantee funds －80 Income tax receivables 141,490 156,910 Other financial assets 3,295 3,628 Other current assets 78,974,451 85,219,154 Total current assets Non-current assets 12,962 9,095 Property and equipment 69,360 69,360 Goodwill 31,944 35,039 Intangible assets 308 296 Retirement benefit assets 20,551 20,241 Investments accounted for using the equity method 27,948 27,948 Specified assets for default compensation reserve funds 3,472 3,531 Other financial assets 7,205 5,709 Other non-current assets 6,553 6,384 Deferred tax assets 180,308 177,607 Total non-current assets 79,154,759 85,396,761 Total assets *1 Clearing business financial assets and liabilities assumed as a clearing organization *2 Deposits from clearing participants deposited by clearing participants as collateral *3 *4 *5 Deposits and reserve funds based on the rules for securing the safety of financial instruments transactions and other transactions *6 Including “default compensation reserve funds *5 " *1 *2 *3 *5 *6 (JPY mil.)
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© 2025 Japan Exchange Group, Inc. 17 Referential Financial Data ■Assets, Liabilities, and Equity For assets and liabilities of JPX Group, "clearing business financial assets and liabilities"* 1 assumed by JSCC as a clearing organization and "deposits from clearing participants"* 2 deposited by clearing participants as collateral are included under both assets and liabilities. "Clearing business financial assets and liabilities"* 1 and "deposits from clearing participants"* 2 have a large impact on the amount of assets and liabilities of JPX Group due to their sizable amounts and daily fluctuations subject to changes in clearing participants' positions. In addition, "legal guarantee funds,"* 3 "trading participant security money,"* 4 and "default compensation reserve funds"* 5 based on the rules for securing the safety of financial instruments transactions and other transactions are included under both assets and either liabilities or equity. The figures shown in parentheses in the table below are those calculated by excluding "clearing business financial assets,"* 1 "deposits from clearing participants,"* 2 "legal guarantee funds,"* 3 and "default compensation reserve funds"* 5 from total assets, and by excluding "default compensation reserve funds"* 5 from total equity and total equity attributable to owners of the parent company. Ratio of total equity attributable to owners of the parent company to total assets Total equity attributable to owners of the parent company Total equity Total assets % 0.4 (70.8) JPY mil. 325,266 (297,317) JPY mil. 336,758 (308,810) JPY mil. 79,154,759 (419,783) FY2025 Q2 0.4 (73.0) 340,823 (312,875) 351,148 (323,199) 85,396,761 (428,497) FY2024 * The footnotes from the previous page also apply to the contents of this page.
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© 2025 Japan Exchange Group, Inc. 18 ■Trading Volume/Value FY2025 FY2024 y/y Q2 Q1 Q4 Q3 Q2 Q1 Trading Value of Cash Equities (JPY mil.) +11.9% 359,552,707 327,014,654 299,858,591 306,641,680 321,205,257 307,704,114 Prime *1 +61.3% 13,113,187 11,684,677 8,788,837 7,368,841 8,130,099 9,388,943 Standard *1 +59.2% 13,211,893 13,145,981 8,993,545 7,518,100 8,300,046 8,011,480 Growth *1 (22.8%) 20,615,133 20,701,991 19,729,987 21,160,382 26,715,214 22,052,054 ETFs/ETNs and REITs etc. *2 Financial Derivatives Trading Volume (contracts) (Tradi ng Value for Nikkei 225 Options) (15.6%) 5,234,328 5,439,414 4,828,488 4,755,070 6,201,111 5,731,776 TOPIX Futures (36.5%) 7,489,637 9,272,963 9,054,375 8,128,171 11,801,704 11,188,310 Total Nikkei 225 Futures/mini/micro *3 (34.0%) 3,432,951 3,986,260 3,859,188 3,483,905 5,200,754 4,817,579 Nikkei 225 Futures (39.1%) 37,696,969 49,449,512 48,908,690 43,621,587 61,924,657 60,972,256 Nikkei 225 mini (29.7%) 28,698,917 34,175,157 30,431,805 28,210,761 40,848,403 27,350,511 Nikkei 225 micro (34.1%) 1,268,643 1,690,227 1,105,962 1,001,367 1,924,238 1,188,309 Nikkei 225 Options (JPY mil.) (17.6%) 2,456,048 2,646,148 2,918,322 2,692,518 2,980,697 3,185,570 10-year JGB Futures Commodity Derivatives Trading Volume (contracts) *4 (15.1%) 1,942,971 2,358,761 1,704,795 1,830,204 2,287,812 3,501,501 Gold Futures (Total standard/mini/rolling spot) *5 (15.0%) 599,446 742,270 469,188 611,995 705,318 994,128 Platinum Futures (Total standard/mini/rolling spot) *6 (33.2%) 237,295 317,530 282,736 305,210 355,247 369,580 Platts Dubai Crude Oil (57.9%) 42,112 55,562 63,322 69,648 99,949 113,515 Rubber Futures (RSS3) *1 Value of auction and off-auction trading of common stocks. *2 Total value of auction and off-auction trading. *3 Nikkei 225 mini contracts and Nikkei 225 micro contracts are calculated using factors of 1/10 and 1/100, respectively. *4 Excluding cash-settled contracts. *5 Mini and rolling spot contracts are calculated using a factor of 1/10. *6 Mini and rolling spot contracts are calculated using a factor of 1/5. Major Products Data
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© 2025 Japan Exchange Group, Inc. 19 ■Average Daily Trading Volume/Value FY2025 FY2024 y/y Q2 Q1 Q4 Q3 Q2 Q1 +11.6% 6,556,436 6,008,839 5,918,790 5,439,518 5,876,691 5,599,304 Trading Value of Cash Equities (JPY mil.) *1 Financial Derivatives Trading Volume (contracts) (Tradi ng Value for Nikkei 225 Options) (15.6%) 84,425 87,732 84,710 75,477 100,018 92,448 TOPIX Futures (36.5%) 120,801 149,564 158,849 129,019 190,350 180,457 Total Nikkei 225 Futures/mini *2 (34.0%) 55,370 64,295 67,705 55,300 83,883 77,703 Nikkei 225 Futures (39.1%) 608,016 797,573 858,047 692,406 998,785 983,423 Nikkei 225 mini (29.7%) 462,886 551,212 533,891 447,790 658,845 441,137 Nikkei 225 micro (34.1%) 20,462 27,262 19,403 15,895 31,036 19,166 Nikkei 225 Options (JPY mil.) (17.6%) 39,614 42,680 51,199 42,738 48,076 51,380 10-year JGB Futures Commodity Derivatives Trading Volume (contracts) *3 (15.1%) 31,338 38,045 29,909 29,051 36,900 56,476 Gold Futures (Total standard/mini/rolling spot) *4 (15.0%) 9,668 11,972 8,231 9,714 11,376 16,034 Platinum Futures (Total standard/mini/rolling spot) *5 (33.2%) 3,827 5,121 4,960 4,845 5,730 5,961 Platts Dubai Crude Oil (57.9%) 679 896 1,111 1,106 1,612 1,831 Rubber Futures (RSS3) *1 Average daily trading value of auction and off-auction trades of common stock on the Prime, Standard, and Growth Markets and the TOKYO PRO Market, as well as ETFs/ETNs/REITs, etc. *2 Nikkei 225 mini contracts and Nikkei 225 micro contracts are calculated using factors of 1/10 and 1/100, respectively. *3 Excluding cash-settled contracts. *4 Mini and rolling spot contracts are calculated using a factor of 1/10. *5 Mini and rolling spot contracts are calculated using a factor of 1/5. Major Products Data
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© 2025 Japan Exchange Group, Inc. 20 JPX Market Innovation & Research Japan Exchange Regulation Japan Securities Clearing Corporation Tokyo Stock Exchange Outline of JPX Stock 8697 Stock Code Tokyo Stock Exchange Prime Market Listed Exchange March 31 Fiscal Year End June Annual General Shareholders Meeting Annual general shareholders meeting: March 31 Year-end dividend: March 31 Interim dividend: September 30 Record Date 100 shares Number of Shares in One Trading Unit 1,044,578,366 Total number of shares issued JPX adopts a dividend policy with a target payout ratio of at least 60%, which is tied to business performance, while giving due consideration to the importance of internal reserves for the following purposes: - Maintaining sound financial health as a financial instruments exchange group, - Preparing for risks as a clearing organization, and - Enabling the group to pursue investment opportunities to raise the competitiveness of its markets as they arise. Basic Policy on Profit Distribution Japan Exchange Group Market-Related Services Self-Regulation Clearing Osaka Exchange Tokyo Commodity Exchange Cash Equities Trading Derivatives Trading Structure of JPX
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© 2025 Japan Exchange Group, Inc. 21 These materials are prepared solely for the purpose of providing information regarding Japan Exchange Group, Inc., and as such, they are not intended as an offer or sale of securities or other similar action whether inside or outside Japan. Our securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. These materials contain forward-looking statements. These statements are based on our assumptions and beliefs in light of the information currently available to us and are subject to risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results may vary materially from those we currently anticipate. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of these materials. We disclaim any obligation to update any of the forward- looking statements contained in these materials to reflect future actual events or developments. Disclaimer