ORIX : Reports Annual Consolidated Financial Results for the Fiscal Year Ended March 31,2026

Consolidated Financial Results April 1, 2025 - March 31, 2026

May 11, 2026

In preparing its consolidated financial information, ORIX Corporation (the "Company") and its subsidiaries have complied with generally accepted accounting principles in the United States of America.

This document may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on the Company's current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission.

The Company believes that it may have been a "passive foreign investment company" for U.S. federal income tax purposes in the year to which these consolidated financial results relate by reason of the composition of its assets and the nature of its income. In addition, the Company may be a PFIC for the foreseeable future. Assuming that the Company is a PFIC, a U.S. holder of the shares or American depositary shares of the Company will be subject to special rules generally intended to eliminate any benefits from the deferral of U.S. federal income tax that a holder could derive from investing in a foreign corporation that does not distribute all of its earnings on a current basis. Investors should consult their tax advisors with respect to such rules, which are summarized in the Company's annual report.

(U.S. GAAP Financial Information for ORIX Corporation and its Subsidiaries)

Corporate Name: ORIX Corporation

Listed Exchanges: Tokyo Stock Exchange (Securities No. 8591)

New York Stock Exchange (Trading Symbol: IX)

Head Office: Tokyo JAPAN

Tel: +81-3-3435-3121

(URL https://www.orix.co.jp/grp/en/ir/)

1. Performance Highlights as of and for the Year Ended March 31, 2026
   1. Performance Highlights - Operating Results (Unaudited)

      Net Income

      (millions of yen)

      Total Revenues

      Year-on-Year Change

      Operating Income

      Year-on-Year Change

      Income before Income Taxes

      Year-on-Year Change

      Attributable to ORIX Corporation Shareholders

      Year-on-Year Change

      March 31, 2026	3,330,831		15.9%		456,248		37.5%		691,431		43.9%		447,265		27.2%
      March 31, 2025	2,874,821		2.1%		331,826		(8.0%)		480,463		2.2%		351,630		1.6%

      "Comprehensive Income Attributable to ORIX Corporation Shareholders" was ¥711,049 million for the fiscal year ended March 31, 2026 (year-on-year change was a 111.8% increase) and ¥335,644 million for the fiscal year ended March 31, 2025 (year-on-year change was a 38.7% decrease).

      	Basic		Diluted		Return on			Return on			Operating
      	Earnings Per Share		Earnings Per Share		Equity			Assets *2			Margin
      March 31, 2026	400.27		399.40			10.4%			4.0%			13.7%
      March 31, 2025	307.74		307.16			8.8%			2.9%			11.5%

      "Equity in Net Income of Equity method investments" was a net gain of ¥123,872 million for the fiscal year ended March 31, 2026 and a net gain of ¥57,182 million for the fiscal year ended March 31, 2025.

      *Note 1: Unless otherwise stated, all amounts shown herein are in millions of Japanese yen, except for per share and dividend amounts which are in single yen. *Note 2: "Return on Assets" is calculated based on "Income before Income Taxes."

      (2) Performance Highlights - Financial Position (Unaudited)
      Total Assets			Total Equity			Shareholders' Equity		Shareholders' Equity Ratio			Shareholders' Equity Per Share
      March 31, 2026	18,002,776			4,573,068		4,482,500			24.9%		4,080.24
      March 31, 2025	16,866,251			4,171,783		4,089,782			24.2%		3,599.24

      *Note 3: "Shareholders' Equity" refers to "Total ORIX Corporation Shareholders' Equity."

      "Shareholders' Equity Ratio" is the ratio of "Total ORIX Corporation Shareholders' Equity" to "Total Assets." "Shareholders' Equity Per Share" is calculated using "Total ORIX Corporation Shareholders' Equity."

      (3) Performance Highlights - Cash Flows (Unaudited)

      Cash Flows

      Cash Flows

      Cash Flows

      Cash, Cash Equivalents and Restricted Cash

      from Operating Activities

      used in Investing Activities

      from (used in) Financing Activities

      at End of Year

      March 31, 2026 1,369,567 (1,114,671) (160,535) 1,451,099

      March 31, 2025 1,300,193 (1,309,695) 149,322 1,321,983

2. Dividends (Unaudited)

   First Quarter-end

   Second Quarter-end

   Third Year-end Total Quarter-end

   Total Dividends Paid

   Dividend Payout Ratio (Consolidated base)

   Dividends on Equity (Consolidated base)

   March 31, 2025	-		62.17		-		57.84		120.01	137,104	39.0%	3.4%
   March 31, 2026	-		93.76		-		62.34		156.10	173,558	39.0%	4.1%
   March 31, 2027 (Est.)	-		-		-		-		187.36		-

   *Note 4: Total dividends paid include dividends paid to the Board Incentive Plan Trust (¥417 million for the fiscal year ended March 31, 2025 and ¥506 million for the fiscal year ended March 31, 2026). Regarding the dividend forecast for the fiscal year ending March 31, 2027, the annual dividend is expected to be the higher of an amount equivalent to a dividend payout ratio of 39% and an annual dividend of ¥156.10 per share. The table above presents the forecast of annual dividends per share assuming that profit attributable to owners of the parent for the fiscal year ending March 31, 2027 is ¥530,000 million, as set forth in the consolidated financial forecast for the same fiscal year described below. Dividends per share is calculated based on the number of issued shares excluding treasury shares and may fluctuate due to changes in the number of treasury shares resulting from share repurchases.
3. Forecast for the Year Ending March 31, 2027 (Unaudited)

   Net Income Attributable to

   ORIX Corporation Shareholders

   Year-on-Year Change

   March 31, 2027 530,000 18.5%

   *Note 5: Although forward-looking statements in this document are based on information currently available to ORIX Corporation and are based on assumptions deemed reasonable by ORIX Corporation, actual financial results may differ materially due to various factors. Readers are urged not to place undue reliance on such forward-looking statements. Factors causing a result that differs from forward-looking statements include, but are not limited to, those described under "Risk Factors" in our Form 20-F submitted to the U.S. Securities and Exchange Commission. We indirectly hold a partial equity interest in Toshiba Corporation (Head office: Kawasaki City, Kanagawa; President and CEO: Taro Shimada; "Toshiba") through TB Investment Limited Partnership (the "Partnership"), an equity-method affiliate of ours. Toshiba's profit and loss is reflected in our consolidated financial results through the Partnership with a one-quarter lag. According to publicly disclosed information, by the end of March 2026, Toshiba sold a portion of its shares held in Kioxia Holdings Corporation (Head office: Minato-ku, Tokyo; President and CEO: Hiroo Ota; "Kioxia"). However, as of the date hereof, we have not been able to confirm information regarding Toshiba's or the Partnership's profit and loss for the fourth quarter of the fiscal year ended March 31, 2026. Accordingly, the impact of the sale on our consolidated financial results for the first quarter of the fiscal year ending March 31, 2027 through the Partnership remains uncertain at this time and has therefore not been reflected in the current earnings forecast. Likewise, the impact on our consolidated full-year earnings forecast for the fiscal year ending March 31, 2027 may vary depending on the financial results of the Partnership and other factors, and accordingly, has not been reflected due to our inability to confirm information at this time.
4. Other Information
   1. Significant Changes in Scope of Consolidation Yes ( ) No ( ｘ ) Addition - None ( ) Exclusion - None ( )
   2. Changes in Accounting Principles

      1. Changes due to adoptions of new accounting standards Yes ( ) No ( ｘ )

      2. Other than those above Yes ( ) No ( ｘ )

   3. Number of Issued Shares (Ordinary Shares)

      1. The number of issued shares, including treasury stock, was 1,124,106,624 as of March 31, 2026, and 1,162,962,244 as of March 31, 2025.

      2. The number of treasury stock was 22,484,702 as of March 31, 2026, and 23,259,695 as of March 31, 2025.

      3. The average number of outstanding shares was 1,117,160,283 for the fiscal year ended March 31, 2026, and 1,142,502,976 for the fiscal year ended March 31, 2025.

The Company's shares held through the Board Incentive Plan Trust (3,035,102 shares as of March 31, 2026 and 3,413,000 shares as of March 31, 2025) are not included in the number of treasury stock as of the end of the periods, but are included in the average number of shares outstanding as treasury stock that are deducted from the basis of the calculation of per share data.

* These consolidated financial results from April 1, 2025 to March 31, 2026 are not subject to certified public accountant's or audit firm's audits.

*1 ROE is the ratio of Net Income Attributable to ORIX Corporation Shareholders for the period to average ORIX Corporation Shareholders' Equity.

*2 ROA is calculated based on Net Income Attributable to ORIX Corporation Shareholders.

Total revenues for the consolidated fiscal year ended March 31, 2026 (hereinafter, "the fiscal year") increased 16% to ¥3,330,831 million compared to the previous fiscal year primarily due to increases in gains on investment securities and dividends, including the recognition of valuation gains on fund investments at our U.S. subsidiary and a gain related to the transfer of shares of Greenko Energy Holdings, as well as increases in life insurance premiums and related investment income, and service income.

Total expenses increased 13% to ¥2,874,583 million compared to the previous fiscal year primarily due to increases in life insurance costs and selling, general and administrative expenses.

Equity in net income of equity method investments for the fiscal year increased 117% to ¥123,872 million compared to the previous fiscal year, and gains on sales of subsidiaries and equity method investments and liquidation losses, net for the fiscal year increased 27% to ¥111,311 million compared to the previous fiscal year, primarily due to the recognition of a gain of ¥83,135 million from the transfer of shares of Greenko Energy Holdings.

Due to the above results, income before income taxes for the fiscal year increased 44% to ¥691,431 million compared to the previous fiscal year and net income attributable to ORIX Corporation Shareholders increased 27% to ¥447,265 million compared to the previous fiscal year.

Total segment profits for the fiscal year increased 35% to ¥732,597 million compared to the previous fiscal year. Segment profits increased in each of Corporate Financial Services and Maintenance Leasing, Real Estate, PE Investment and Concession, Environment and Energy, Insurance, ORIX Europe, and Asia and Australia while segment profits in each of Banking and Credit, Aircraft and Ships, and ORIX USA decreased, in each case as compared to the previous fiscal year.

Segment information for the fiscal year is as follows:

Segment profits increased 12% to ¥100,740 million compared to the previous fiscal year primarily due to increases in operating leases revenues and equity in net income of equity method investments.

Segment assets totaled ¥1,876,895 million, remaining relatively unchanged compared to the end of the previous fiscal year primarily due to decreases in installment loans and loans to ORIX and its subsidiaries, partially offset by an increase in investment in operating leases.

Segment profits increased 11% to ¥78,509 million compared to the previous fiscal year primarily due to increases in services income and equity in net income of equity method investments, partially offset by a decrease in operating leases revenues.

Segment assets increased 7% to ¥1,235,906 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases, inventories, and equity method investments, partially offset by decreases in property under facility operations.