Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 161

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 161
---
 UAE Consulting Freedom Finansial Hizmetler Anonim Şirketi Turkey Financial consulting Freedom Finance Technologies Ltd Cyprus IT development Freedom Prime UK Limited ("Prime UK") UK Management consulting Freedom Finance Germany GmbH Germany Tied Agent of Freedom EU Freedom Structured Products PLC ("FSP") Cyprus Financial services Freedom24 Chess Masters LTD Cyprus Chess academy Freedom Property Ltd Cyprus Asset management company FFIN Securities, Inc. USA Dormant Freedom U.S. Market LLC USA Management company LD Micro ("LD Micro") USA Event platform 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) 102

Freedom US Technologies LLC USA Technology services Total subsidiaries 66 Through its subsidiaries, the Company offers a diverse range of financial services, including banking, brokerage, and insurance, as well as lifestyle services such as online payments, travel, ticketing, e-commerce, and telecommunications and media businesses in Kazakhstan that are in a developmental stage. It operates as a professional participant in the financial markets, holding banking and insurance licenses, as well as licenses to provide various services across multiple stock exchanges, including the Kazakhstan Stock Exchange (KASE), the Astana International Exchange (AIX), the Republican Stock Exchange of Tashkent (UZSE), and the Uzbek Republican Currency Exchange (UZCE). Additionally, it is a member of the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange (Nasdaq). Freedom EU enhances the Company's offerings by providing customers with operational support and access to investment opportunities in the United States and European securities markets. NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting principles The Group's accounting policies and accompanying consolidated financial statements conform to accounting principles generally accepted in the United States of America (U.S. GAAP). Basis of presentation and principles of consolidation The consolidated financial statements present the consolidated accounts of FRHC and its consolidated subsidiaries. All inter-company balances and transactions have been eliminated from the consolidated financial statements. Consolidation of variable interest entities In accordance with accounting standards regarding consolidation of variable interest entities ("VIEs"), VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. VIEs must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE