Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 119

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 119
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.9 million gain in the fiscal year ended March 31, 2024. Net gain/(loss) on derivatives For the fiscal year ended March 31, 2025, we had a net gain on derivatives of $12.4 million compared to a net loss of $103.8 million for the fiscal year ended March 31, 2024. The increase in the amount of net gain was primarily attributable to our subsidiary, Freedom Bank KZ, which had a realized net gain of $1.8 million for the fiscal year ended March 31, 2025, as compared to a realized net loss of $98.8 million for the fiscal year ended March 31, 2024. Such change between the two periods was mainly due to a positive revaluation of currency swaps for the fiscal year ended March 31, 2025. Table of Contents 73

Expense The following table sets forth information regarding our total expense for the periods presented. Year ended March 31, 2025 2024 Amount Change % Change Fee and commission expense $ 346,074 $ 154,351 $ 191,723 124 % Interest expense 535,895 501,111 34,784 7 % Insurance claims incurred, net of reinsurance 298,109 139,561 158,548 114 % Payroll and bonuses 288,163 181,023 107,140 59 % Professional services 28,924 34,238 (5,314) (16) % Stock compensation expense 59,592 22,719 36,873 162 % Advertising and sponsorship expense 124,627 38,327 86,300 225 % General and administrative expense 162,474 120,888 41,586 34 % Allowance for expected credit losses 62,445 21,225 41,220 194 % Cost of sales 31,278 17,538 13,740 78 % Total expense $ 1,937,581 $ 1,230,981 $ 706,600 57 % The following table sets out the components of our expense as a percentage of total expense for the fiscal years presented. Year ended March 31, 2025 2024 Fee and commission expense 18 % 12 % Interest expense 28 % 41 % Insurance claims incurred, net of reinsurance 15 % 11 % Payroll and bonuses 15 % 15 % Professional services 2