FY2025 3rd Quarter Financial Results Overview

Contents

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Asset quality 15

- 3

Securities 16

P/L summary (1) (2) 3

Funding 17

Results by business segment

—Strategic Investments Unit—

- 5

Investments & funding structure / Impact of higher yen interest rates (non-consolidated)

- 18

—Market & International Business Unit—

—Customer Relations Unit—

- 1--9--

—GMO Aozora Net Bank—

Reference: Capital adequacy ratio

Net interest income

- 1--0

(as of September 30, 2025)

- 19

Non-interest income /

- 2--0--

Gains/losses on stock transactions / Gains/losses on equity method investments

- 11

Group companies / consolidated,

non-consolidated difference 20

Balance sheet summary

- 1--2-

Loans —Domestic— 13

Loans —Overseas— 1-4

(Note) “1Q” refers to the period from April to June, “2Q” refers to the period from July to September, “3Q” refers to the period from October to December, “4Q” refers to the period from January to March, “1H” and “interim” refer to the period from April to September, and “2H” refers to the period from October to March.

Financial highlights

73.0 billion yen

27.4 billion yen

21.8 billion yen

* Business profit + Gains/losses on stock transactions, etc. (Gai ns/losses on stock transactions, etc. = Gains/losses on stock transacti ons + Gains/losses on equity derivatives, etc.)

• The three growth drivers (Strategic Investments Bus iness, alliance with Daiwa Securities Group, and GM O Aozora Net Bank) set out in the Mid-term Plan “Aozora 2027” were major contributors to net revenue. Non-interest inc ome significantly increased primarily due to the strong M&A market, driven by LBO financing transactions a nd returns on fund investments

  Strategic Investments Business

  • In addition to strong non-interest income, domestic net interest income also expanded due to growth in domestic earning assets, including corporate loans and LBO finance

    Alliance with Daiwa Securities Group

  • Business profit reached approximately 3.1 billion yen (contract basis) as of January 31, 2026 against the full-year plan of 3.3 billion yen, with the financing amount totaling approximately 210 billionyen

  • Sale of Daiwa’s fund wrap product launched last Oct ober exceeded 49 billion yen as of January 31, 2026 , far surpassing the FY2025 full-year plan of 15 billion yen

    GMO Aozora Net Bank

  • Net income was 0.8 billion yen (including 0.6 billion yen recorded in 3Q) due to an increase in fee in come as well as growth in net interest income from higher deposit balances

• In light of the strong business results, we impleme nted loss cuts on a portion of our legacy securitie s, with a view to improving future profitability

• Profit attributable to owners of parent represented 99% of the full-year forecast, reflecting a reduce d tax burden due to progress on the workout of U.S. office loans

3Q dividend

22 yen / share (+ 3 yen yoy)

Dividend per share

Net revenue

Progress

95.0 76.9%

1

(billion yen)  

Net interest income Non-interest income

General & administrative expenses

Gains/losses on

equity method investments

2

Credit-related expenses

Gains/losses on stock transactions

3

Extraordinary profit/loss

4

Taxes

Profit/loss attributable to non-controlling interests

5

Plan

FY2025

Forecast

Profit before income taxes

Profit attributable to owners of parent

22.0 99.2%

Business-related profit

35.0 78.4%

Ordinary profit

32.0 83.0%

Business profit

30.0 78.9%

P/L summary (1)

Profit attributable to owners of parent and ROE

4.9%

33.0

20.5

22.0

(forecast)

6.3%*

7% (approx.)

P/L

Net revenue progressed strongly, driven by continued growth in domestic net interest income as well as in non-interest income

• Strategic Investments Business maintained strong pe rformance

• We implemented loss cuts on a portion of our legacy securities

G&A expenses were managed within budget (66 billion ye n for FY2025) while we remained focused on investments in huma n capital

As a result of the above, business profit and business-relat ed profit both progressed strongly

A reversal of provision for credit losses was recorded in 3Q as a result of the recovery of U.S. office loans

Profit attributable to owners of parent increased 34% year-on-year. The progress in the workout of U.S. office loans resulted in a reduction in the tax burden

ROE

Profit attributable to owners of parent (billion yen)

* Annualized basis

FY2024 FY2025 1-3Q

FY2027

Plan

P/L

P/L summary (2)

Major factors for changes in profit attributable to owners of parent

(FY2024 1–3Q vs FY2025 1–3Q)

(billion yen)

Business-related profit by segment* 2

+6.7

+1.4

-1.7

-2.3

21.8

-1.8

16.2

+4.4 billion yen

mainly in LBO finance

+3.3

Net Bank

FY2024

1–3Q

Strategic

Investments Unit*1

GMO

Aozora Net Bank

Market &

International Business

Credit-

related expenses

Absence of

one-time gain from the

Other

FY2025

1–3Q

Unit, Customer Relations Unit*1, etc.

liquidation of an overseas subsidiary

*1 The Bank’s business groups were reorganized into the fol lowing three units from FY2025: “Strategic Investments Unit,” “Market & International Business Unit,” and “Customer Relations Unit.”

*2 Management accounting basis. “Other” includes (i) busine ss-related profit not included in the business units (e.g. G&A expenses not allocated to each unit, gains/losses on th e sale of equities not included in any units), (ii) gains on the sale of equit ies held solely for investment purposes, and (iii) reven ue adjustment related to funding contribution.