Company: FRHC
Filing Date: 2025-07-29
Form Type: ARS
Source: 0000924805-25-000027
Chunk: 222

Company: Freedom Holding Corp.
Filing Date: 2025-07-29
Form: ARS
Chunk 222
---
 the average annual percentage payout of incurred losses for the Motor Vehicle line of business: Average annual percentage payout of incurred losses by age, net of reinsurance (unaudited) Years 1 2 3 4 5 6 7 8 Average annual percentage payout 62.2% 25.3% 5.0% 4.2% 0.4% 0.3% 0.6% 1.9% 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) 150

NOTE 17 - OTHER LIABILITIES As of March 31, 2025 and 2024, other liabilities of the Company included the following: March 31, 2025 March 31, 2024 Financial liability measured at fair value $ 32,087 $ 3,143 Loans received 24,860 9,469 Salaries and other employee benefits 17,326 15,660 Vacation reserve 11,698 9,121 Payable to suppliers 9,815 9,391 Taxes payable other than income tax 6,338 3,852 Deferred income tax liabilities 62 66 Other advances received 3,683 3,867 Payable for acquisition 2,672 — Deferred distribution payments 156 156 Outstanding settlements operations — 3,455 Other 21,040 23,380 Total other liabilities $ 129,737 $ 81,560 As of March 31, 2025, the Company had over-the-counter financial liabilities which included the structured derivative contracts in the amount of $32 million entered into by our wholly-owned subsidiary FSP. Structured products are compound financial instruments that combine a base instrument such as a bond, index, deposit, equity and an embedded derivative that provides economic exposure to the relevant assets. The Company classifies these balances as Level 2 of fair- value hierarchy, where fair value is determined with an option-pricing model that uses observable equity volatility and forward curves. As of March 31, 2025, the Company had loans received, including a loan from JSC "Development Bank of Kazakhstan" for the total amount of $13,815 denominated in KZT, bearing a fixed annual interest rate of 10.0% for the term until April 30, 202