Company: CNCKW
Filing Date: 2025-05-20
Form Type: 424B3
Source: 0001213900-25-046039
Chunk: 10

Company: Coincheck Group N.V.
Filing Date: 2025-05-20
Form: 424B3
Chunk 10
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 $ |  38.1 |   |

| * | Convenience Translation into U.S. Dollars |

<div align='center'>11

COINCHECK GROUP N.V. and subsidiaries

RECONCILIATION OF EBITDA</div>

| Reconciliation of EBITDA:                    |     | Japanese Yen               
 For the three months ended 
 March 31,                  
 2024                       |       |     | March 31, 
 2025      |       |     | United States Dollar       
 For the three months ended 
 March 31,                  
 2025                       |     |
|:---------------------------------------------|:----|:---------------------------|------:|:----|:----------|------:|:----|:---------------------------|----:|
| Net profit (loss) for the year or the period |     | ¥                          | 1,953 |     | ¥         |   642 |     | $                          | 4.3 |
| Add: Income tax expenses (benefits)          |     |                            |   852 |     |           |   241 |     |                            | 1.6 |
| Profit (loss) before income taxes            |     |                            | 2,805 |     |           |   883 |     |                            | 5.9 |
| Add: Interest expense                        |     |                            |     5 |     |           |    16 |     |                            | 0.1 |
| Add: Depreciation and amortization           |     |                            |   248 |     |           |   253 |     |                            | 1.7 |
| EBITDA                                       |     | ¥                          | 3,058 |     | ¥         | 1,152 |     | $                          | 7.7 |

<div align='center'>RECONCILIATION OF ADJUSTED EBITDA</div>

| Reconciliation of Adjusted EBITDA:                  |     | Japanese Yen               
 For the three months ended 
 March 31,                  
 2024                       |       |     | March 31, 
 2025      |       |     | United States Dollar*      
 For the three months ended 
 March 31,                  
 2025                       |      |
|:----------------------------------------------------|:----|:---------------------------|------:|:----|:----------|------:|:----|:---------------------------|-----:|
| Net profit (loss) for the