ORIX : Reports Consolidated Financial Results for Q3 FY2026.3

Consolidated Financial Results April 1, 2025 - December 31, 2025

February 9, 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 Nine Months Ended December 31, 2025
   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

      December 31, 2025	2,408,910		11.8%		366,284		26.0%		567,719		48.1%		389,675		43.4%
      December 31, 2024	2,154,484		5.4%		290,724		9.3%		383,377		23.7%		271,777		24.0%

      "Comprehensive Income Attributable to ORIX Corporation Shareholders" was ¥771,788 million for the nine months ended December 31, 2025 (year-on-year change was a 131.9% increase) and

      ¥332,813 million for the nine months ended December 31, 2024 (year-on-year change was a 0.1% decrease)

      Basic Earnings Per Share

      Diluted Earnings Per Share

      December 31, 2025 347.14 346.39

      December 31, 2024 237.46 237.03

      *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.
   2. Performance Highlights - Financial Position (Unaudited)

      Total Assets

      Total Equity

      Shareholders' Equity

      Shareholders' Equity Ratio

      December 31, 2025 18,125,609 4,673,279 4,584,992 25.3%

      March 31, 2025 16,866,251 4,171,783 4,089,782 24.2%

      *Note 2: "Shareholders' Equity" refers to "Total ORIX Corporation Shareholders' Equity."

      "Shareholders' Equity Ratio" is the ratio of "Total ORIX Corporation Shareholders' Equity" to "Total Assets."

2. Dividends (Unaudited)

   First Quarter-end

   Second Quarter-end

   Third Quarter-end

   Year-end Total

   March 31, 2025 － 62.17 － 57.84 120.01

   -

   93.76

   -

   -

   120.01

   March 31, 2026

   March 31, 2026 (Est.)

   *Note 3: Revision from the previously announced dividend forecast: No

   Regarding the interim dividend for the fiscal year ending March 31, 2026, we have decided the dividend per share of ¥93.76 by applying the dividend payout ratio of 39% to earnings per share for the six months ended September 30, 2025.

   For the fiscal year ending March 31, 2026, the annual dividend will be the higher of either a payout ratio of 39% or ¥120.01 per share. The minimum dividend amount is shown in the above table. If the net income attributable to ORIX Corporation Shareholders for the fiscal year ending March 31, 2026 is ¥440 billion, as stated in the consolidated earnings forecast below, the annual dividend per share is expected to be ¥153.67.

3. Forecast for the Year Ending March 31, 2026 (Unaudited)

   Income before Income Taxes

   Year-on-Year Change

   Net Income Attributable to ORIX Corporation Shareholders

   Year-on-Year Change

   March 31, 2026 640,000 33.2% 440,000 25.1%

   *Note 4: 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.

   *Note 5: Revision from previously announced forecast for the year ending March 31, 2026: No
4. Other Information

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

2. The number of treasury stock was 52,746,882 as of December 31, 2025, and 23,259,695 as of March 31, 2025.

3. The average number of outstanding shares was 1,122,324,067 for the nine months ended December 31, 2025, and 1,144,429,487 for the nine months ended December 31, 2024.

The Company's shares held through the Board Incentive Plan Trust (3,386,167 shares as of December 31, 2025, 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 December 31, 2025 are not subject to certified public accountant's or audit firm's quarterly review.

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

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

Total revenues for the nine months ended December 31, 2025 increased 12% to ¥2,408,910 million compared to ¥2,154,484 million during the same period of the previous fiscal year primarily due to gains on investment securities and dividends, including the recognition of a gain of ¥11,840 million 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 10% to ¥2,042,626 million compared to ¥1,863,760 million during the same period of 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 increased 81% to ¥87,720 million compared to the same period of the previous fiscal year, and gains on sales of subsidiaries and equity method investments and liquidation losses, net increased 157% to ¥113,715 million compared to the same period of the previous fiscal year, mainly 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 nine months ended December 31, 2025 increased 48% to ¥567,719 million compared to ¥383,377 million during the same period of the previous fiscal year and net income attributable to ORIX Corporation shareholders increased 43% to ¥389,675 million compared to ¥271,777 million during the same period of the previous fiscal year.

Total segment profits for the nine months ended December 31, 2025 increased 40% to ¥596,444 million compared to the same period of the previous fiscal year.

Segment information for the nine months ended December 31, 2025 is as follows:

Segment profits increased 21% to ¥80,181 million compared to the same period of the previous fiscal year primarily due to increases in operating leases revenues, equity in net income of equity method investments, gains on sales of subsidiaries and equity method investments, and finance revenues.

Segment assets decreased 1% to ¥1,874,478 million compared to the end of the previous fiscal year primarily due to decreases in installment loans, loans to ORIX and its subsidiaries, equity method investments, and advances for finance lease and operating lease, partially offset by increases in investment in operating leases, and net investment in leases.

Segment profits decreased 5% to ¥56,875 million compared to the same period of the previous fiscal year primarily due to a decrease in operating leases revenues and increases in costs of goods and real estate sold and selling, general and administrative expenses, partially offset by an increase in services income.

Segment assets increased 4% to ¥1,202,543 million compared to the end of the previous fiscal year primarily due to increases in investment in operating leases, equity method investments, and inventories, partially offset by decreases in property under facility operations, and trade notes, accounts and other receivable.

Segment profits increased 42% to ¥93,956 million compared to the same period of the previous fiscal year primarily due to increases in equity in net income of equity method investments, sales of goods and real estate, and services income, partially offset by the absence of gains on sales of subsidiaries and equity method investments recorded in the first quarter of the previous fiscal year.

Segment assets increased 12% to ¥1,150,598 million compared to the end of the previous fiscal year primarily due to increases in equity method investments, property under facility operations, goodwill, intangible assets acquired in business combinations, partially offset by a decrease in cash and cash equivalents.

Segment profits increased 828% to ¥122,217 million compared to the same period of the previous fiscal year primarily due to increases in gains on sales of subsidiaries and equity method investments and gains on investment securities and dividends.

Segment assets decreased 1% to ¥1,005,058 million compared to the end of the previous fiscal year primarily due to a decrease in equity method investments, partially offset by increases in investment in securities and advances for property under facility operations.