Company: FRHC
Filing Date: 2025-07-29
Form Type: DEF 14A
Source: 0000924805-25-000025
Chunk: 49

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: DEF 14A
Chunk 49
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#### Pay Ratio Disclosure
We are required to calculate and disclose the total compensation paid to our median employee, as well as the ratio of total compensation paid to such median employee as compared to total compensation paid to our CEO pursuant to Section 953(b) of the Dodd-Frank Act and Item 402(u) of Regulation S-K. We believe the ratio of pay included in this information is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K. SEC rules for identifying the median employee and calculating the pay ratio based on that employee’s annual total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their employee populations and compensation practices.

We determined total compensation awarded to our global employees based on cash compensation rates of our employees who are paid in foreign currencies, which we converted into U.S. dollars using the average annual foreign exchange conversion rate for salary paid during the year and the rate in effect on March 31, 2025, for incentive awards related to year-end compensation.

As of March 31, 2025, we had 8,764 employees, located in the following countries: Kazakhstan - 7,999, Uzbekistan - 61, Germany - 9, Kyrgyzstan - 17, Azerbaijan - 14, Armenia - 141, Cyprus - 242, Greece - 11, Spain - 2, France - 2, UAE - 95, Turkey - 12, the United Kingdom (the "UK") - 5, the United States -51, Tajikistan - 89, Italy - 3, Bulgar ia - 3, Po land - 3, Austr ia - 3 an d Netherlands - 2. In determining the median employee, we did not include employees from the following countries as they represented, in aggregate, less than 5% of our employee population:

• Austria - 3 employees

• Azerbaijan - 14 employees

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• Bulgaria - 3 employees

• France - 2 employees

• Germany - 9 employees

• Greece - 11 employees

• Italy - 3 employees

• Kyrgyzstan - 17 employees

• Netherlands - 2 employee

• Poland - 3 employees

• Spain - 2 employees

• Turkey - 12 employees

• Tajikistan - 89 employees

After excluding our CEO and employees located in the countries listed above in