Slide 1: Consolidated Financial Results for the Nine-Month Period Ended December 31, 2025
ORIX Corporation Consolidated Financial Results For the Nine-Month Period Ended December 31, 2025 Kazuki Yamamoto Operating Officer, Corporate Strategy and Management Unit, Responsible for Corporate Planning, Investor Relations and Sustainability February 9, 2026 1 Copyright © ORIX Corporation All r
Slide 2: Executive Summary
Executive Summary (1) Net income ‒ Q1-Q3 net income reached record-high 389.7 Bln JPY (+117.9 Bln JPY YoY) ‒ Achieved progress of 89% towards revised full-year net income target* of 440 Bln JPY (2) Pre-tax profits ‒ Q1-Q3 pre-tax profits were 567.7 Bln JPY (+184.3 Bln JPY), growth achieved in all th
Slide 3: Three Categories: Pre-tax Profits
Three Categories: Pre-tax Profits ✓ Pre-tax profit of 567.7 Bln JPY (+184.3 Bln JPY), reaching 89% of full-year forecast ✓ Achieved YoY profit growth in Finance, Operation, Investments categories, made healthy progress towards forecast Q1-Q3 Results (Bln JPY) FY26.3 Segment profits* YoY Forecast Maj
Slide 4: Capital Recycling
Capital Recycling ✓ Sold partial stake in Canera Robeco, completed tender offer for I-NET in FY26.3 Q3 ✓ Recorded Q1-Q3 capital gains of 196.6 Bln JPY FY25.3 Results FY26.3 Q1-Q3 Results FY26.3 Full-year Forecast (Incl. Greenko gain on sale/ Capital Gains 140.7 Bln JPY 196.6 Bln JPY valuation gains:
Slide 5: Segment Profits: 10 Segments
Segment Profits: 10 Segments ✓ Q1-Q3 FY26.3 segment profits rose sharply, up 40% YoY to 596.4 Bln JPY(7 of 10 segments saw profit growth) ✓ Large gain on sale booked in Environment and Energy, higher earnings at PE investees, and growth in aircraft, ship sales all led to higher segment profits FY25.
Slide 6: Segment Assets: 10 Segments
Segment Assets: 10 Segments ✓ Segment assets were 17.7 Tln JPY (up 1.3 Tln JPY vs end-FY25.3, +439.6 Bln JPY due to changes in forex) ✓ Assets higher on Hilco Global acquisition, growth in Insurance investment assets, aircraft investments, and new loan originations at ORIX Bank (Bln JPY) End-FY25.3
Slide 7: Inbound Tourism
Click Here to access “Creating New Value from Kansai (Digest Movie)” Click Here to access “Creating New Value from Kansai (Digest Movie)” Inbound Tourism ✓ Concession: Chinese passenger numbers down around 40% YoY in Dec, downward pressure likely to persist in near term ✓ Real-estate operations: Ear
Slide 8: Financial Strategy
Financial Strategy ✓ Maintained A-equivalent rating via ongoing capital recycling with a focus on capital efficiency ✓ Secured competitive funding costs by maintaining strong financial health Consolidated Balance Sheet and Financial Indicators (Bln JPY) Shareholders’ Equity / Credit Ratings Employed
Slide 9: Shareholder Returns and Enhancing Corporate Value
Shareholder Returns and Enhancing Corporate Value ✓ Increased total share buyback program to 150.0 Bln JPY, 128.1 Bln JPY completed as of end-Jan 2026 (85% of new total) ✓ Promote enhancement of corporate value with focus on capital costs, aiming for sustained growth in ROE and EPS through IR activi
Slide 10: Segment Information
Segment Information 10 Copyright © ORIX Corporation All rights reserved.
Slide 11: Corporate Financial Services and Maintenance Leasing
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Corporate Financial Services and Maintenance Leasing Corporate Financial Services ➢ Corporate Financial Services ➢ Auto ➢ Rentec Earnings Trends (Segment Pro
Slide 12: Corporate Financial Services and Maintenance Leasing - About the Business
Corporate Financial Services and Maintenance Leasing - About the Business ✓ Corporate Financial Services is ORIX’s core group relationship management (RM) platform, backed by strong regional presence and solid customer base ✓ Segment includes Auto, world leader in vehicles under management; Rentec,
Slide 13: Real Estate
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） RE Investment Facility Operations and Real Estate ➢ RE Investment and Facility Operations ➢ Daikyo Earnings Trends (Segment Profits FY25.3 Q1-Q3: 59.7 Bln JP
Slide 14: Real Estate – About the Business
Click Here to access “Area Development Plan of Osaka Integrated Resort” Click Here to access “Creating New Value from Kansai (Digest Movie)” Click Here to access “Area Development Plan of Osaka Integrated Resort” Click Here to access “Creating New Value from Kansai (Digest Movie)” Real Estate – Abou
Slide 15: PE Investment and Concession
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） PE Investment and Concession ➢ PE Investment ➢ Concession Earnings Trends (Segment Profits FY25.3 Q1-Q3: 66.2 Bln JPY, FY26.3 Q1-Q3 : 94.0 Bln JPY) Key Topic
Slide 16: PE Investment and Concession – About the Business
PE Investment and Concession – About the Business ✓ Currently invested in 19 companies*1 (as of end-Dec 2025). Investment gains from exits have steadily grown, along with the size of investments. Investment Track Record Investee Companies Initial Leveraging our broad network and Management IT Servic
Slide 17: Environment and Energy
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Environment and Energy ➢ Environment and Energy Earnings Trends (Segment Profits FY25.3 Q1-Q3: 13.2 Bln JPY, FY26.3 Q1-Q3: 122.2 Bln JPY) Key Topics ✓ Domest
Slide 18: Environment and Energy – About the Business
Environment and Energy – About the Business *Overview of Energy and Environment Business and Services can be found here. ✓ Total net owned operating capacity of 3.6 GW*1 worldwide (+0.2 GW vs. end-Q2 FY26.3) ✓ Since FY21.3, have expanded capacity in solar, onshore wind, and hydropower generation – p
Slide 19: Insurance
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Insurance ➢ Insurance Earnings Trends (Segment Profits FY25.3 Q1-Q3: 61.7 Bln JPY, FY26.3 Q1-Q3: 74.1 Bln JPY) Key Topics ✓ Expanded investment assets while
Slide 20: Insurance – About the Business
Insurance – About the Business ✓ Business model shifted from one dominated by sales of third-sector products (such as medical insurance) to a more well- balanced portfolio with introduction of first-sector products, which have higher contract values. Achieved growth in annualized premiums of new con
Slide 21: Banking and Credit
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Banking and Credit ➢ Banking Earnings Trends (Segment Profits FY25.3 Q1-Q3: 22.1 Bln JPY, FY26.3 Q1-Q3: 19.9 Bln JPY) Key Topics ✓ Finance revenues higher on
Slide 22: Banking – About the Business
Banking – About the Business ✓ In addition to its mainstay real-estate investment loan business, ORIX Bank is expanding lending into strategic areas such as renewable energy, logistics centers, and other projects ✓ Aims to achieve sustainable growth and improve ROA while controlling quality, size of
Slide 23: Aircraft and Ships
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Aircraft and Ships ➢ Aircraft and Ships Earnings Trends (Segment Profits FY25.3 Q1-Q3: 44.6 Bln JPY, FY26.3 Q1-Q3: 48.6 Bln JPY) Key Topics ✓ Aircraft: Lease
Slide 24: Aircraft and Ships – About the Business
Aircraft and Ships – About the Business （as of end-Dec 2025) Aircraft (ORIX) Aircraft (Avolon) Ships (Business since 1978) (Acquired 30% stake in 2018) （Business since 1971） 【S&P： BBB- / Moody’s: Baa2 / Fitch: BBB】 Historical Fleet Growth Historical Fleet Growth Fleet breakdown （by Type of Vessel） R
Slide 25: ORIX USA
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） ORIX USA ➢ ORIX USA Earnings Trends (Segment Profits FY25.3 Q1-Q3: 27.8 Bln JPY, FY26.3 Q1-Q3: 14.0 Bln JPY) Key Topics ✓ Q1-Q3 segment profits fell YoY, owi
Slide 26: ORIX USA – About the Business
ORIX USA – About the Business ✓ A broad, integrated private markets platform in the USA with a middle market focus, specializing in private credit, real estate, private equity and asset appraisal solutions (total AUM/AUA $80.6 Bln) ✓ Pursues a hybrid strategy where earnings growth is derived from a
Slide 27: ORIX Europe
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） ORIX Europe ➢ ORIX Europe Earnings Trends (Segment Profits FY25.3 Q1-Q3: 38.1 Bln JPY, FY26.3 Q1-Q3: 47.3 Bln JPY) Key Topics ✓ AUM hits new record of 500.5
Slide 28: ORIX Europe – About the Business
ORIX Europe – About the Business ✓ Promoting asset management business including traditional equities, fixed income, commodities, renewable energy and other fund management ✓ Focus on maximizing growth in asset management business by capitalizing on global network (e.g. ROBECO’s Asia strategy) Major
Slide 29: Asia and Australia
Click HERE to access Supplementary Financial Materials Click below to read more on Segment Details & Growth Strategy (View Integrated Report)） Asia and Australia ➢ Asia and Australia Earnings Trends (Segment Profits FY25.3 Q1-Q3: 27.9 Bln JPY, FY26.3 Q1-Q3 : 39.3 Bln JPY) Key Topics ✓ Q1-Q3 segment
Slide 30: Asia and Australia – About the Business
Asia and Australia – About the Business ✓ Leasing primarily for industrial equipment and automobiles, as well as PE investment business mainly in Greater China (Bln JPY) Segment Assets by Business Segment Asset Trends by Major Country and Region 1 South Korea 2 China 3 Australia Leases, Loans*1 Inve
Slide 31: Appendix
Appendix 31 Copyright © ORIX Corporation All rights reserved.
Slide 32: About ORIX: Expertise in Business and Collective Capabilities of the Group
About ORIX Expertise in Business and Collective Capabilities of the Group ✓ ORIX will continue to enhance our expertise in finance and tangible assets as we synergistically expand our businesses 32 Copyright © ORIX Corporation All rights reserved.
Slide 33: About ORIX: Proven Track Record of Profitability
About ORIX Proven Track Record of Profitability ✓ ORIX has been profitable for 60 straight years Net Income Attributable to ORIX Corporation Shareholders FY25.3 (Bln JPY) Record profits 400 FY21.3 COVID pandemic 350 300 FY09.3 Global financial crisis 250 FY02.3 IT bubble bursts 200 FY98.3 Asian curr
Slide 34: Three Categories: Finance, Operation, Investments
Three Categories: Finance, Operation, Investments Three Categories Category/Segment Matrix Finance (Recurring earnings, Operation Investments interest rate spread is source of income) (All aspects of operation, including onsite) (Main area for capital recycling) Corporate Financial Services and Corp
Slide 35: Three Categories: ROE and Shareholders' Equity
Three Categories: ROE and Shareholders’ Equity ✓ 1Q-3Q ROE of 12.0%, up 3.2 pp vs. end-FY25.3 ✓ Optimizing capital structure to enhance value as asset operator and manager in “Operations,” steadily advancing capital recycling in “Investments.” For “Finance” category, allocated capital for Insurance
Slide 36: Three Categories: Profitability and Efficiency
Three Categories: Profitability and Efficiency ✓ Finance category maintains resilient earnings, while Operation category posting steady profit growth. Investments category improving efficiency through asset rotation ✓ Promoting capital recycling across portfolio to strengthen ROE Finance Operation I
Slide 37: Capital Recycling Profit Growth
Capital Recycling Profit Growth ✓ Accelerating capital recycling model led to company-wide net income growth of 3.1x, CAGR of 10% (FY25.3 vs FY13.3) Yayoi RoadSafe Acquisition /new business Houlihan Lokey ORIX Living Yayoi ORIX Credit(partial stake) Greenko （(partial stake) MONEX ORIX Golf RobecoSAM
Slide 38: Investment Pipeline: Investment Amount and Time Frame to Earnings Contribution
Investment Pipeline: (From FY25.3 results presentation announced Investment Amount and Time Frame to Earnings Contribution in November 2025) ✓ Investment pipeline in 2 Tln JPY*1, advancing investments primarily in domestic PE, aircraft ✓ Targeting investments (primarily in “Operation” and “Investmen
Slide 39: Roadmap for Asset Management
(From FY25.3 results presentation announced in May 2025 Roadmap for Asset Management with some updates) ✓ Grow asset management fee income by capitalizing on origination capabilities, value enhancement model ✓ Expand AUM by proactively using third-party capital, primarily in private assets and real
Slide 40: ORIX Group - Asset Management Business
ORIX Group - Asset Management Business ✓ Expansion in asset management business centered around Europe and the US supports base profit growth ✓ Focus on management of diversified asset base, in addition to equities, fixed income, and alternative assets (Leading domestic manager of renewable energy,
Slide 41: Long-Term Vision: Goal and Mgmt KPI
(From FY25.3 results presentation Long-Term Vision: Goal and Mgmt KPI announced in May 2025) Goal for FY2035.3 Making Impact through “Alternative Investments & Operations” and “Business Solutions” ◼ Realize sustainable cycle of growth utilizing our two core strengths: ORIX’s business models of alter
Slide 42: Long-term Vision: Focus Areas & Business Models
(From FY25.3 results presentation Long-term Vision: Focus Areas & Business Models announced in May 2025) ✓ Realize growth cycle through combination of two business models in three focus areas Focus Areas PATHWAYS Aim to achieve new areas of impact for the future economy with a focus on technological
Slide 43: Long-term Vision: Initiatives for Realizing Vision
(From FY25.3 results presentation Long-term Vision: Initiatives for Realizing Vision announced in May 2025) ✓ Key initiatives for achieving long-term vision: disciplined portfolio management, sophisticated risk management, new business creation ✓ Move forward with portfolio optimization to achieve m
Slide 44: New Three-Year Plan: ROE Improvement
(From FY25.3 results presentation announced in May New Three-Year Plan: ROE Improvement 2025 with some updates) ✓ Finance： Grow assets in areas where economy is expanding, increase non-financial income through shift to asset manager model (off B/S) ✓ Operation： Expand broadly defined asset managemen
Slide 45: New Three-Year Plan: Shareholders' Equity and Capital Allocation
(From FY25.3 results presentation New Three-Year Plan: Shareholders’ Equity and Capital Allocation announced in May 2025) ✓ In the three years ending FY28.3, ORIX will accelerate EPS growth while using flexible share buybacks to control equity levels (assume maintaining A credit rating) ✓ Will utili
Slide 46: Long-term Vision and New Three-Year Plan: Summary
(From FY25.3 results presentation Long-term Vision and New Three-Year Plan: Summary announced in May 2025) ✓ Long-term vision is achieving ROE of 15%, net income of 1 Tln JPY, and “Making Impact through Alternative Investments & Operations and Business Solutions” ✓ Aim to achieve FY28.3 milestone ta
Slide 47: Roadmap for ROE & Profits
(From FY25.3 results presentation announced in May Roadmap for ROE & Profits 2025 with some updates) ✓ FY35.3 targets: ROE 15%, Net income of 1 Tln JPY ✓ Focus on sustainable growth in base profit (primarily in Operation), aim to maximize capital gains with individual deals in Investments, other are
Slide 48: Human Capital and Business Growth
(From FY25.3 results presentation announced in Human Capital and Business Growth May 2025) ✓ ORIX’s approach to human capital management, a source of our competitive strength, has three components: instilling our core values, enhancing our core capabilities and providing a workplace in which people
Slide 49: ESG
ESG Scores by ESG Rating Agencies (as of January 5, 2026) ESG-related Key Goals (announced Nov 2021) 1. Outside directors to account for over half of the composition of the ORIX ESG Rating Agency Rating/Scores Group Board of Directors by the General Meeting of Shareholders set to be held in June 202
Slide 50: ORIX by the Numbers
ORIX by the Numbers *All figures based on FY25.3 or end-FY25.3 data unless otherwise indicated. Strong profitability High growth Leading renewable energy Full-FY25.3 FY26.3 Q1-Q3 Net income CAGR provider in Japan Net income 351.6 JPY Bln 389.7 JPY Bln (FY13.3-FY25.3) Renewable energy generating capa
Slide 51: Disclaimer
Disclaimer ◼ These materials have been prepared by ORIX Corporation (“ORIX” or the “Company”) solely for your information and are subject to change without notice. The information contained in these materials has not been independently verified and its accuracy is not guaranteed. No representations,
Slide 52: ORIX Corporation
For the current IR materials and archives of past financial data, please access our website. IR Section https://www.orix.co.jp/grp/en/ir/ IR Library https://www.orix.co.jp/grp/en/ir/library/ ORIX Corporation Investor Relations and Sustainability Department Tel: +81-3-3435-3121