Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 116

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 116
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 million, representing 15% of our total interest income from margin lending for that period. For the fiscal year ended March 31, 2025, interest income on loans to customers increased by $31.3 million, or 18%, compared to the fiscal year ended March 31, 2024 due to the growth of Freedom Bank KZ's customer loan portfolio between the two periods. During the fiscal year ended March 31, 2025, interest income on available-for-sale securities increased by $7.5 million, or 23%, compared to the fiscal year ended March 31, 2024 due to the growth of Freedom Life's available-for-sale portfolio between the two periods. Interest income on trading securities decreased by $48.1 million, or 11% during the fiscal year ended March 31, 2025, as compared to the fiscal year ended March 31, 2024 due to a reduction in the volume of interest-bearing trading Table of Contents 71

securities held during the period. This reflects a strategic shift in the investment portfolio in response to increased market volatility and rising interest rates, which adversely impacted reinvestment decisions. Company generated $1.0 million in interest income from held-to-maturity securities in fiscal year ended March 31, 2025, following the growth in the held-to-maturity securities portfolio. The following table provides a summary of the monthly average balances and average interest rates for the major categories of our interest-earning assets for the fiscal years ended March 31, 2025 and 2024. Year ended March 31, 2025 2024 Average balance Interest-earning assets Trading securities $ 3,149,515 (2) $ 3,381,287 Margin lending, brokerage and other receivables, net 2,202,876 (1) 933,797 Loans issued 1,405,464 1,218,935 Available-for-sale securities, at fair value 348,847 (2) 221,356 Held-to-maturity securities 14,221 — Average yields (3) Trading securities 12.0 % 12.6 % Margin lending, brokerage and other receivables, net 8.5 % 8.2 % Loans issued 14.8 % 14.5 % Available-for-sale securities, at fair value 11.6 % 14.8 % Held-to-maturity securities 7.0 % — % Interest income Interest income on trading securities $