Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 247

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 247
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 retail banking services in Kazakhstan issued by the ARDFM (including for currency exchange operations); (d) payment service provider in Kazakhstan is specially registered in such capacity with National Bank of the Republic of Kazakhstan, payment services providers in Uzbekistan and Kyrgyzstan hold licenses from the National Bank of the Kyrgyz Republic and the Central Bank of Uzbekistan, respectively; and (e) a banking license in Tajikistan issued by the National Bank of Tajikistan. In addition, following receipt of a principal approval by the Turkey's financial regulatory and supervisory authority granted on January 9, 2025, we are in the process of obtaining a license to provide brokerage services in Turkey. Our U.S. broker-dealer subsidiary is subject to regulatory oversight by U.S. authorities, including the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA), with respect to its brokerage and investment advisory activities in the U.S. The table below presents net capital/eligible equity, required minimum capital, excess regulatory capital and retained earnings as of March 31, 2025 for the Company and each of subsidiaries that are regulated entities that is material for our consolidated financial statements. Table of Contents FREEDOM HOLDING CORP. NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2024 (All amounts in thousands of United States dollars, except share data, unless otherwise stated) 172

Regulated activities Net Capital/ Eligible Equity Required Minimum capital/solvency Excess regulatory capital Retained earnings (amounts in thousands) Freedom Holding Corp. Non-regulated holding company $ 526,906 $ 200,000 $ 326,906 $ (256,096) Freedom EU Brokerage 450,903 19,320 431,584 607,659 Freedom Bank KZ Bank 382,259 175,396 206,862 159,119 Freedom KZ Brokerage 43,568 390 43,178 100,440 Freedom Global Brokerage 66,217 21,564 44,653 56,941 Freedom Life Life Insurance 58,246 11,692 46,554 70,574 Freedom Armenia ("Freedom AR") Brokerage 47,994 773 47,221 48,067 Freedom Insurance Property and Casual Insurance 33,646 11,692 21,954 29,150 Other regulated operating subsidiaries Other 14,130 267 13,863 (28,622) $