Investor Presentaiton

2,000 1,500 1,000 500 0 2009 No. of ETFs (left axis) for Actively Managed ETF JPX The market size for actively managed ETFs, which do not track underlying indicators, is expanding globally. Active ETFs respond to the needs of investors who expect flexibility in product creation and management by investment management firms and they enable management companies to flexibly structure and manage products. TSE has developed listing rules for actively managed ETFs, effective June 30, in order to maintain and improve its international competitiveness by establishing a system to provide products that accurately meet diversified investment needs. Global Expansion of Active ETFs Steady growth in total assets and the number of active ETFs globally The development of listing rules has become a pressing priority to maintain and improve international competitiveness. AUM and No. of Active ETFs (globally) Characteristics and Comparison of ETFs Existing Product New Product Index-linked ETF TSE Active ETF (Reference) Active ETF Listed 2010 2011 2012 2013 © 2023 Japan Exchange Group, Inc. 2014 2015 2016 2017 2018 2019 AuM(bil. USD)(right axis) (Source: ETFGI website) Listing Unlisted 600 Trading Price Market price (real-time basis) Base Price 400 Investment Objective Following index Growth of trust assets 200 Flexibility Low High 0 2020 2021 2022 Management Fee Low Medium High No. of ETFs (left axis) Disclosure of Portfolio Daily Every fiscal Daily year 9

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