Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 159

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 159
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 CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (All amounts in thousands of United States dollars, unless otherwise stated) 100

NOTE 1 - DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. (the "Company" or "FRHC" and, together with its subsidiaries, the "Group") is a corporation organized in the United States under the laws of the State of Nevada that through its operating subsidiaries provides securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, retail and commercial banking, insurance products, payment services, information processing services and lifestyle services. The Company also owns several ancillary businesses which complement its core financial services businesses, including telecommunications and media businesses in Kazakhstan that are in a developmental stage. The Company is the holding company of subsidiaries incorporated in Kazakhstan, Cyprus, the United States (USA), the United Kingdom (UK), Armenia, the United Arab Emirates, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, and Turkey, and the Group also has representative offices in Austria, Belgium, Bulgaria, France, Germany, Greece, Italy, The Netherlands, Poland, Lithuania and Spain. The Company's subsidiaries in the United States include a broker-dealer that is registered with the United States Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA"). The Company's common stock is traded on the Nasdaq Capital Market, the Kazakhstan Stock Exchange ("KASE"), and the Astana International Exchange ("AIX"). As of March 31, 2025, the Company owned, directly or indirectly, the following subsidiaries: Name of subsidiary Jurisdiction of Incorporation Business Area Brokerage Segment Freedom Finance JSC ("Freedom KZ") Kazakhstan Securities broker-dealer Freedom Finance Global PLC ("Freedom Global") Kazakhstan Securities broker-dealer Freedom Finance Europe Limited ("Freedom EU") Cyprus Securities broker-dealer Freedom24 Bulgaria VCC Bulgaria Securities broker-dealer Freedom24 Greece Single Members P.C Greece Securities broker-dealer Freedom24 Poland LTD Poland Securities broker-dealer Freedom24 Lithuania, UAB Lithuania Securities broker-dealer Freedom24 Iberia SL Spain Securities broker-dealer Freedom24 Netherlands B.V. Netherlands Securities broker-dealer Freedom Finance Armenia LLC ("Freedom AR") Armenia Securities broker-dealer Freedom Capital Markets (ex. "PrimeEx") USA Securities broker-dealer Foreign Enterprise LLC Freedom Finance Uzbekistan Securities broker-dealer Freedom Broker LLC Kyrgyzstan Securities broker-dealer Freedom Broker Global Markets Ltd UAE Securities broker-dealer FREEDOM YATIRIM MEN