Announcement of Subsidiary’s Release

TOKYO, June 25, 2021 – Japan Catalyst, Inc., a wholly owned subsidiary of Monex Group, Inc.,
issued the following press release today.
Attachment: Japan Catalyst, Inc. press release
Giving Back to the Community Achieving a Sustainable Society
Aiming to Strengthen the Investment Ecosystem

Contact: Akiko Kato
Corporate Communications OfficeMonex Group, Inc.
+81-3-4323-8698
Yuki Nakano, Minaka Aihara
Investor Relations, Financial Control Dept.
Monex Group, Inc.
+81-3-4323-8698
This material was made as a matter of record only and does not constitute an offer to sell or to solicit an offer to buy
securities in the U.S.

Giving Back to the Community Achieving a Sustainable Society
Aiming to Strengthen the Investment Ecosystem
TOKYO, June 25, 2021 – Japan Catalyst, Inc. (hereinafter referred to as "JCI") which sub-advises to the Mother
Fund of Monex Activist Fund, nicknamed “The Future of Japan”, has decided to announce that JCI will beallocating a portion of its profits to the community for achieving a sustainable society and to promote initiatives
to strengthen the investment ecosystem.
JCI’s vision is “To be the catalyst for Japanese companies that are facing a period of transformation," and throughthe improvement of corporate governance in Japan, we are engaging companies to achieve both sustainableearnings power and to institute the formation of a sustainable society. Post-war, Japan achieved a recovery anddevelopment model that was called a miracle and applauded by the world, and the successful experience wasstrongly imprinted on the minds of management from previous generations. On the other hand, the current
business environment is changing at an ever-faster pace, and the glorious success stories of the past are now
weighing down the changes of Japanese companies. Some managers are aware of the need for corporate change,and some companies are actually starting to make changes, but the speed of change is still not rapid enough. Our
goal is to assist Japanese companies, which are facing a period of transformation, improve their corporate value
by encouraging them to change, thereby realizing investment returns and revitalizing the capital markets.
Monex Activist Fund, a publicly offered investment trust for which we provide investment advice, is an innovative
activist fund designed to create the future of Japan together with individual investors. June 25, 2021 marks thefirst anniversary of the fund's launch. Through our unique approach of engagement with Japanese companies fortransformation, the performance of the fund has generated +15.8% since the beginning of the year. (NAV as ofJune 24, 2021: 12,854yen) It also has a strong alignment to the concept of the Sustainable Development Goals(SDGs), the United Nations' international goals for a sustainable and better world, and aims to contribute toeconomic development, environmental and social sustainability.

In order to achieve a sustainable society in the future, we believe that it will be necessary to strengthen theecosystem, and we will engage in the following activities for giving back to the community, mainly from theperspective of finance and investment.
◆Contributing to Society through a "New Investment Experience" that Goes beyond the Framework of Financial
Products
Monex Activist Fund aims to provide a "new investment experience" beyond the traditional framework financial
products through PR, educational activities, and community building in order to promote awareness and literacyof individual investors towards finance and investments. We will work to raise awareness of the Monex Activist
Fund to pursue both societal sustainability and financial return while collaborating along with our investors as
we aim to create the future of Japan.
◆Giving Back to the Community on Corporate GovernanceCorporate governance is achieved through an appropriate supervision of management by directors appointed by
the shareholders, who are the owners of the company. Since outside directors represent all shareholders,
including minority shareholders, they are expected to increase their ratio on the board of directors and improvetheir quality in terms of competence and diversity. We aim to provide support in terms of both quantity andquality attributed through our endorsement of initiatives that contribute to the promotion of such initiatives andeducational activities.
◆Support for Industry Associations
One of the current issues is that Japan's presence in the international community is low due to a lack ofopportunities for cooperation and collaboration within the industry, including the investment chain, and also
due to a delay in the advancement of the industry as a whole. Through its support for industry organizations, wewill contribute to expanding interest in asset management and the attractiveness of the domestic financial andcapital markets.
◆Support for Research Activities
There are various stakeholders in the investment ecosystem, and we believe that academia can greatly contributeto the formation of a sustainable society, the soundness of capital markets, and the attractiveness of assetmanagement. Given that there is limited academic research on the impact of shareholder activism
and insufficient measurement of the effects of Corporate Governance Code, etc. Therefore, we would like todeepen our collaboration with the academic world through exchanges of opinions and research support.
We will continue to provide updates on the progress of these activities as appropriate, so please feel free to accessour website or the SNS of Monex Activist Fund.
・Japan Catalyst, Inc. Official Website：https://www.japancatalyst.com/index-en.html
・Monex Activist Fund Official Twitter：https://twitter.com/MAF_PR
This material is an English translation of a Japanese announcement made on the date above. Although the Company intended to faithfullytranslate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed and thus you areencouraged to refer to the original Japanese document.