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Investor Presentaiton

Private Equity Investments (3) Current Investment Market Both exit activity and fund offerings slowed in 2022 and thru 2023. 1. Summary 2. How to Increase Corporate Value 3. Appendix 4. Financial Data Financial Results Asset Management Σ Business Governance Although there are signs of a slight recovery in exit activity at present, we will closely monitor trends in M&A activity, which has declined in light of higher interest rates and other factors. Status of PE Fund Exits / Fund Offering Amounts and Number of Offered Funds (Global) Investment in Companies from PE Funds (Buyout) / Global M&A Deal Valuations Source: Created based on data from PitchBook and Preqin*. Source: Created based on data from Preqin*. Total exit amount ($1bn) Number of exits 2,723 2,284 2,192 1,896 1,729 384 404 402 348 Total amount of deals ($1bn) Number of deals 10,763 9,237 7,846 7,131 7,212 7,018 1,582 1,291 693 425 247 573 497 488 519 941 687 349 5,650 2017 2018 2019 2020 2021 2022 2023 (until Sep.) (year) 2017 2018 2019 2020 2021 2022 2023 (year) (until Sep.) I Fund offering amount ($1bn) Number of offered funds 4,764 3,710 3,547 3,531 3,373 3,396 Valuation 10.4x 10.3x 10.2x 9.7x 10.5× 10.0x 1,364 785 889 1,005 804 867 874 624 2017 2018 2019 2020 2021 2022 2023 (until Sep.) (year) 8.9x 2017 2018 2019 2020 2021 2022 2023 (year) (until Jun.) * Due to changes in calculation methods, the historical figures do not equal to ones in the previous materials (page 49 of materials for the Investors Meeting FY2023/3). JP JAPAN POST BANK BANK Copyright© JAPAN POST BANK All Rights Reserved. 43 33
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