Announcement by Monex Group regarding the public filing etc. of Coincheck Group B.V. tobecome publicly listed on Nasdaq through a De-SPAC transaction with Thunder Bridge CapitalPartners IV, IncTOKYO, May 8, 2024 - As previously disclosed in a press release dated March 22, 2022, Coincheck Group B.V.
(“CCG”) has the intention to become publicly listed on the Nasdaq through a De-SPAC transaction with ThunderBridge Capital Partners IV, Inc (“THCP” or“Thunder Bridge”). Until now CCG and THCP have been confidentiallysubmitting drafts of the registration statements on Form F-4 (the “registration statement”) with the U.S. Securities
Exchange Commission (“SEC”) utilizing the confidential review process that is generally made available by theSEC. Monex Group, Inc. (headquarters: Tokyo, Japan; Representative Executive Officer and CEO: Yuko Seimei;“Monex Group”) and CCG have now decided to make the first public filing of the registration statement. WhileMonex Group and CCG will continue to work towards the successful completion of the De-SPAC transaction, theregistration statement remains subject to review and comment by the SEC and there can be no certainty as to whether
the SEC will declare the registration statement effective.
Monex Group’s consolidated financial statements include revenue from crypto asset transactions undertaken byCoincheck, Inc. (Headquartered in Shibuya-ku, Tokyo; Satoshi Hasuo, Representative Director & President;“Coincheck”) on its marketplace platform. In determining its accounting policy for these transactions, Monex Group
noted that the transactions were within the scope of IFRS 15 Revenue from Contracts with Customers, and thatjudgement was required to assess whether the transactions were also in the scope of IFRS 9 Financial Instruments.
Historically, Monex Group applied both standards, recognising as revenue the residual amount that is not in thescope of IFRS 9 (“net approach”). However, in connection with the registration statement, management of
Coincheck decided to apply only IFRS 15 to these transactions, recognising as revenue and operating costs the grosssettlement amount (“gross approach”) in the consolidated financial statements of Coincheck included in theregistration statement in accordance with U.S. requirements. This means that the amount of revenue for thesetransactions recognised by Coincheck is higher than the amount recognised historically by Monex Group.
Monex Group plans to continue to apply the net approach in its consolidated financial statements, for the following
reasons:
It considers that the net approach complies with IFRS Accounting Standards and provides relevant andreliable information in the context of the Japanese market. Monex Group has filed audited consolidated
financial statements by applying the net approach policy since 2018. Hence, Monex Group concluded that achange in presentation potentially could be confusing for its financial statement users and for capital market
participants in Japan.
- The current accounting approach is consistent with the requirements of Japanese accounting standards set
forth in the authoritative guidance issued by the Accounting Standards Board of Japan (PITF No. 38,
Tentative Practical Solution on the Accounting for Crypto Assets under the Payment Services Act). In
addition, other companies that report in IFRS and have subsidiaries in the business of crypto asset exchange
services in Japan also have adopted the “net approach.” Monex Group believes that the users of its financial
statements in the Japanese capital markets prefer and continue to benefit from the existing accounting
approach, because it promotes comparability of financial information within the same industry for the samebusiness transactions.
If Monex Group had presented its transaction revenue from marketplace platform business on the gross approachbasis in its consolidated financial statements for the fiscal year endeed March 31, 2023, transaction revenue andoperating cost from Coincheck would have been JPY 176,924 million and JPY 177,643 million, respectively. In
other words, its transaction revenue and operating cost for that fiscal year would have been presented at greater
amounts by JPY 169,340 million and JPY 169,340 million, respectively. Despite these differences, the amounts ofnet profit (or loss) for that fiscal year and total equity as of the end of that fiscal year would not have changed.
-Contact:

Akiko Kato
Corporate Communications OfficeMonex Group, Inc.
+81-3-4323-3983

Yuki Nakano, Taishi Komori
Investor Relations, Financial Control Department
Monex Group, Inc.
+81-3-4323-8698

Additional Information and Where to Find It
In connection with the business combination agreement among Coincheck, Inc. (“Coincheck”), Coincheck Group B.V. (“CCG”), Thunder Bridge
Capital Partners IV, Inc. (“Thunder Bridge IV”) and others with regards to the proposed transaction, the parties will file relevant materials with theU.S. Securities and Exchange Commission (“SEC”), including a registration statement on Form F-4 filed by Coincheck Group, B.V., which will
include a proxy statement/prospectus of Thunder Bridge IV, and other documents regarding the proposed transaction with the SEC. Thunder Bridge
IV’s shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments
thereto and the definitive proxy statement and documents incorporated by reference therein filed in connection with the proposed businesscombination, as these materials will contain important information about CCG, Coincheck, Thunder Bridge IV and the proposed businesscombination. Promptly after the Form F-4 is declared effective by the SEC, Thunder Bridge IV will mail the definitive proxy statement/prospectus
and a proxy card to each shareholder entitled to vote at the meeting relating to the approval of the business combination and other proposals set forthin the proxy statement/prospectus. Before making any voting or investment decision, investors and stockholders of Thunder Bridge IV are urged tocarefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filedwith the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposedtransaction. The documents filed by Thunder Bridge IV with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov, or bydirecting a request to Thunder Bridge Capital Partners IV, Inc., 9912 Georgetown Pike, Suite D203, Great Falls, Virginia 22066, Attention: Secretary,(202) 431-0507.
Participants in the Solicitation
Thunder Bridge IV and its directors and executive officers may be deemed participants in the solicitation of proxies from its shareholders with respect
to the business combination. A list of the names of those directors and executive officers and a description of their interests in Thunder Bridge IV will
be included in the proxy statement/prospectus for the proposed business combination when available at www.sec.gov. Information about ThunderBridge IV’s directors and executive officers and their ownership of Thunder Bridge IV common stock is set forth in Thunder Bridge IV prospectus,dated June 29, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information
regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposedbusiness combination when it becomes available. These documents can be obtained free of charge from the source indicated above.
CCG, Coincheck and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from theshareholders of Thunder Bridge IV in connection with the proposed business combination. A list of the names of such directors and executive officers
and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposedbusiness combination.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Suchstatements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions
with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “willcontinue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking
statements include, but are not limited to, statements regarding Coincheck’s industry and market sizes, future opportunities for CCG, Coincheck andThunder Bridge IV, Coincheck’s estimated future results and the proposed business combination between Thunder Bridge IV and Coincheck,including the implied enterprise value, the expected transaction and ownership structure and the likelihood, timing and ability of the parties tosuccessfully consummate the proposed transaction. Such forward-looking statements are based upon the current beliefs and expectations of ourmanagement and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult
to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forwardlooking statements.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposedbusiness combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements ofSection 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Contact:

Akiko Kato
Corporate Communications OfficeMonex Group, Inc.
+81-3-4323-3983

Yuki Nakano, Taishi Komori
Investor Relations, Financial Control Department
Monex Group, Inc.
+81-3-4323-8698