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Investor Presentaiton

Strengthening the Functions of the Cash Equity Market (1) !!!! Upgrading the cash equity trading system and revision to trading rule JPX To enhance resilience and market participants' convenience, TSE plans to revise trading rules for the extension of cash equity trading hours and introduction of the closing auction, etc. at the time of the arrowhead system upgrade on November 5, 2024. To ensure that the new system runs smoothly, we promote information provision to market users and system testing. Extension of trading hours Revisions to trading rules, etc. Strengthen ing resilience • Trading hours are to be extended by 30 minutes (closing time changed from 15:00 to 15:30 (JST)) to strengthen resilience and given that the current trading hours are relatively short compared to European, U.S. and other Asian countries. Closing auctions are to be introduced to improve transparency of closing price formation and other processes, as the afternoon close has become increasingly important amid the trend toward passive investment. A globally-used way of disseminating market information, Market By Order, is to be introduced to enhance convenience of trading by providing more detailed order information. The time it takes to reboot the system is to be shortened (from 3 to 1.5 hours). © 2023 Japan Exchange Group, Inc. 11
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