Company: FRHC
Filing Date: 2025-07-29
Form Type: DEF 14A
Source: 0000924805-25-000025
Chunk: 57

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: DEF 14A
Chunk 57
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ivables from ITS Central Securities Depository Limited amounted to $29.7 million. This balance of brokerage and other receivables primarily relates to outstanding settlement amounts from these services.

Turlov Family Office Securities (PTY) LTD. Turlov Family Office Securities (PTY) LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. As of March 31, 2025 the Company had customer liabilities in the amount of $6.2 million which were bank deposits from Turlov Family Office Securities (PTY) LTD held by the Company’s subsidiary Freedom Bank KZ.

Microfinance organization Freedom Finance Credit. As of March 31, 2025, the Company had loans issued in the amount of $183.6 million represented by uncollateralized customer loans purchased by the Company’s subsidiary Freedom

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Bank KZ from a related party, Microfinance Organization Freedom Finance Credit LLP (“FFIN Credit”), a company outside of the FRHC group which is controlled by Timur Turlov. These loans were purchased by Freedom Bank KZ at a discount to their nominal value. FFIN Credit is a non-bank credit institution that issues loans in Kazakhstan under simplified lending procedures. The principal operations of FFIN Credit are providing loans to customers online using biometric identification and its proprietary scoring process. While Freedom Bank KZ has legal ownership of the uncollateralized retail loans purchased from FFIN Credit, in accordance with U.S. GAAP requirements, the Company does not recognize those loans as uncollateralized bank customer loans because effective control over the transferred loans is maintained by FFIN Credit. Instead, the Company recognizes the loans receivable from FFIN Credit on the consolidated balance sheets as a right of claims for purchased retail loans, within loans issued.

Kazakhstan Chess Federation. Kazakhstan Chess Federation (“KCF”) is a Kazakhstan-based entity in which Timur Turlov holds a management position. The Company continues to support the development of chess as a sport in Kazakhstan through, among other, a sponsorship arrangement with KCF. During the year ended March 31, 2025, the Company has made financial contributions to KCF to support the preparation and holding of chess championships, tournaments, training camps and other events. During the year ended March 31, 2025, the Company incurred advertising and sponsorship expense from KCF in the amount of $11.2 million.

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<div align='center'>FOR THE 2026 ANNU