Japan Securities Finance : Financial Presentation for 3Q, FY2025

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‌The Third Quarter of FY 2025 Financial Results Presentation Japan Securities Finance Co., Ltd. February 12, 2026 This document has been translated from the Japanese original for reference purposes only. Although Japan Securities Finance intends this to serve as a faithful translation of the Japanese original, we do not guarantee the accuracy and correctness of the translation and encourage you to refer to the Japanese original. ‌Table of Contents Overview of Financial Results for the Third Quarter of FY 2025 P 3 - 9 1 ． Executive summary (Consolidated) Ｐ 3 2 ． Summary Financial Results for the Third Quarter of FY 2025 Ｐ 4 3 ． Summary Financial Results for the Third Quarter of FY 2025 (Non-Consolidated) Ｐ 5 4 ． Gross Profit by Business (Non-Consolidated) Ｐ 6 5 ． Summary of Financial Results for the Third Quarter of FY 2025 (JSF Trust Bank ） Ｐ 7 6 ． Performance Forecasts for FY 2025 Ｐ 8 7 ． Shareholder Returns in FY 2025 Ｐ 9 2 ‌Executive Summary (Consolidated) (¥ mn) Third Quarter of FY 2025 YoY Chg. % YoY Chg. Highlights Operating profit 10,604 +958 +9.9% Ordinary profit 11,444 +994 +9.5% Profit attributable to owners of parent 8,123 -717 -8.1% period of the previous year was eliminated. Loans for margin transactions and equity repo transactions continued to show steady performance. The extraordinary gain recorded in the same ‌Summary Financial Results for the Third Quarter of FY 2025 (¥ mn) Consolidated Non-consolidated Third Quarter of FY 2025 YoY Chg. % YoY Chg. JSF JSF Trust Bank Nihon Building YoY Chg. YoY Chg. YoY Chg. Operating revenues (Except premium charges) 73,136 +35,995 (+96.9%) 65,544 +32,452 7,204 +3,614 851 -73 Including premium charges 79,154 +39,108 (+97.7%) 71,563 +35,564 Operating expenses (Except premium charges) 58,836 +34,816 (+158.1%) 52,641 +31,642 4,327 +3,151 19 ＋1 Including premium charges 62,838 +37,931 (+152.3%) 58,643 +34,756 General & administrative expenses 5,711 +219 (+4.0%) 4,460 +138 1,100 +103 464 -14 Operating profit 10,604 +958 (+9.9%) 8,458 +669 1,776 +359 368 -60 Ordinary profit 11,444 +994 (+9.5%) 11,492 +2,143 1,776 +358 615 +46 Gain or loss in equity-method 281 -179 (-39.0%) Extraordinary profit or loss - -1,828 (-100.0%) - -664 - (―) - -1,163 Profit attributable to owners of parent /Net income 8,123 -717 (-8.1%) 8,922 +1,314 1,231 ＋251 409 -729 ‌Summary of Financial Results for the Third Quarter of FY 2025 (Non-Consolidated) Key Points Japan Securities Finance （ Non-consolidated ） (¥ mn) Third Quarter of FY 2025 YoY Chg. % YoY Chg. Operating revenues *1 65,544 +32,452 (+98.1%) Operating expenses *1 52,641 +31,642 (+150.7%) Gross profit 12,919 +808 (+6.7%) Margin loan business *1 4,635 +1,439 (+45.0%) Securities financing *2 5,267 -95 (-1.8%) Others （mainly securities investment） 3,015 -535 (-15.1%) General & administrative expenses 4,460 +138 (+3.2%) Operating profit 8,458 +669 (+8.6%) Ordinary profit 11,492 +2,143 (+22.9%) Extraordinary profit or loss - -664 (-100.0%) Net income 8,922 +1,314 (+17.3%) *1 Excluding premium charge *2 Equity repo, Bond repo and gensaki transactions, Loans for negotiable margin transactions, General stock lending, Retail loans Gross profit Profits from loans for margin transactions remained strong performance. Profits from securities financing showed steady performance in equity repo transactions, despite the narrowing interest margins for bond repo and gensaki transactions. In securities investment, carry revenue accumulation and the portfolio rebalancing have been implemented. As a result, the gross profit increased by 6.7% over the previous year. Ordinary profit Dividends received from consolidated subsidiaries increased (due to adjustments in the dividend payment method for JSF Trust and Banking, and higher profits from real estate sales in the previous fiscal year for Nihon Building). Both had no impact on consolidated results due to elimination of intercompany transactions. ‌Gross Profit by Business (Non-Consolidated) (¥ mn) Type of transaction Third Quarter of FY 2025 YoY Chg. % YoY Chg. Key Points Loans for margin transactions (Margin loan/Stock loan) 4,635 ＋1,439 （+45.0％) Securities financing Equity repo transactions 1,555 +243 (+18.5%) Bond repo and gensaki transactions 2,370 -565 (-19.2%) Loans for negotiable margin transactions 302 +62 (+26.0%) General stock lending 604 +113 (+23.2%) Loans to retail 434 +49 (+13.0%) Total 5,267 -95 (-1.8%) Securities Investment 3,015 -535 (-15.1%) Increased in profit due to the steady stock market development and changes in the interest rate conditions. Increased in profit due to increased demand for funds from securities companies in response to changes in interest rate conditions. Balances were maintained slightly above the previous year amid steady demand for collateral use and compliance with international financial regulations, however interest margins narrowed due to interest rates fluctuating within a narrow range in short-term markets. Increased in profit due to increased demand for funds due to steady stock market development. Increased in profit due to demand for fail-cover purposes. Increased in profit due to steady stock market conditions. Implemented carry revenue accumulation and the portfolio rebalancing. Key Points Ordinary profit Increased in profit due to the rise in interest income resulting from changes in the interest rate conditions and steady performance in trust fees from services such as custodial trust services. ‌Summary of Financial Results for the Third Quarter of FY 2025 (JSF Trust Bank ） JSF Trust Bank (Non-consolidated) (¥ mn) Third Quarter of FY 2025 YoY Chg. % YoY Chg. Ordinary revenues 7,204 +3,613 （+100.6%） Trust fees 1,336 ＋83 （＋6.6%） Ordinary expenses 5,428 +3,254 （+149.7%） Ordinary profit 1,776 +358 （+25.2%） Net income 1,231 +251 （+25.6%） Key Points Performance Forecasts for FY 2025 have been revised upward because the securities financing, centered on the loans for margin transaction, performed better than anticipated on the back of a robust stock market and interest rate rise. ‌Performance Forecasts for FY 2025 （¥ mn） FY 2025 Performance Forecasts Y o Y Change from previous forecasts Consolidated Operating profit 13,900 +2,570 +1,500 Ordinary profit 14,900 +2,392 +1,700 Profit attributable to owners of parent 10,500 +125 +1,100 JSF Operating profit 10,745 +1,713 +444 Ordinary profit 13,797 +3,188 +897 Net income 10,461 +1,973 +861 JSF Trust and Banking Ordinary profit 2,711 +955 +938 Net income 1,883 +656 +653 Nihon Building Operating profit 440 -84 +5 Ordinary profit 720 +4 +24 Net income 475 -762 +20 ‌Shareholder Returns Key Points Dividends per share and Share Buy-Back amount In light of the upward revision of the consolidated full-year financial results forecast, we will enhance shareholder returns. Revision of dividend forecast (revised its year-end dividend forecast to ¥46 per share, an increase of ¥6) Expansion of the share repurchase limit (maximum, increased by 0.6 billion) * The estimated performance for FY 2025 was released on February 12, 2026. Share buy-back (maximum): ¥3.4 bn (increased by ¥0.6 bn) 2.0 mn shares (increased by 0.3 mn shares) Dividend forecast: ¥86 (an increase of ¥6 from the previously announced forecast) Total payout ratio: 99.5 ％ *based on performance forecasts In the above chart, dividends per share in FY 2025 are forecasts and share buy-back amount is maximum amount of repurchase. ‌This document includes statements relating to business forecasts. These statements do not guarantee future business performance; they contain risks and uncertainties. Future business performance may vary significantly depending on the stock market and financial conditions or other factors.

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