Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 212

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 212
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 NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 (All amounts in thousands of United States dollars, except share data, unless otherwise stated) 139

NOTE 14 - MARGIN LENDING AND TRADE PAYABLES As of March 31, 2025 and 2024, margin lending and trade payables of the Group were comprised of the following: March 31, 2025 March 31, 2024 Margin lending payable $ 1,290,569 $ 839,454 Payables to suppliers of goods and services 20,096 10,525 Payables to merchants 5,982 13,475 Other 5,594 4,426 Total margin lending and trade payables $ 1,322,241 $ 867,880 The fair value of collateral by the Group under margin loans as of March 31, 2025, and 2024 was $4,521,411 and $2,400,361, respectively. NOTE 15 - DEBT SECURITIES ISSUED As of March 31, 2025 and 2024, outstanding debt securities of the Company included the following: March 31, 2025 March 31, 2024 Interest rate Issue date Maturity date Freedom SPC bonds due 2026 $ 201,311 $ — 10.5% September, 2024 September, 2026 Freedom SPC bonds due 2028 200,305 200,386 1-2 years: 12% 3-5years: EFFR + 6.5% December, 2023 December, 2028 Freedom SPC bonds due 2026 64,801 64,546 5.5% October, 2021 October, 2026 Accrued interest 3,134 2,319 Total debt securities issued $ 469,551 $ 267,251 The Freedom SPC bonds are denominated in U.S. dollars and were issued under Astana International Financial Centre ("AIFC") law and trade on the AIX. The Company is a guarantor of the Freedom SPC bonds. The Freedom SPC bonds due 2026 bear interest at an annual rate of 5.5% and mature in October 2026. Interest payments are duly semi-annually in April and October. For the first two years of Freedom SPC bonds due 2028, the annual interest rate is