Investor Presentaiton

The Significant Increase in M2 Money Supply May Stoke Greater Consumer Confidence/Spending and Jolt Stubbornly Low Inflation + Despite Central Bank bond/ETF purchases and policies like yield-curve control aimed at increasing economic activity and inflation, Japan has continued to grapple with a high savings rates and low inflation + A dramatic increase in the M2 Money Supply may stoke a turnaround in inflation prospects with more cash on hand for consumption/investment M2 Money Supply Year-over-Year Change 10.00% 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% Jan-15 Source: Bank of Japan, 1/31/2015-3/31/2021. Jul-15 Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 6

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