Investor Presentaiton

NOMURA 3 Wholesale initiatives: Improving productivity and profitability ■Productivity and profitability of secondary trading improved due to intense focus on areas of competitive strength and improvement in market environment Productivity of secondary trading business and pretax Recovery in secondary trading revenues contribute to improvement in Wholesale performance income 2 ■Reduce lower profitability businesses, focus on areas of strength Streamlining of direct costs and Corporate Improvement in productivity (billions of USD) Improvement in profitability 1.5 1.5 1.3 1.3 Wholesale 1.3 Pretax income (loss) FY2018/19 FY2019/20 1H (Annualized) revenues³ 1.1 (Size of bubble corresponds to scale of revenues) Origination Income 123 Loss Productivity (revenues per producer) improved 60% Productivity1 revenues (Solutions, Primary and Advisory) Flow secondary trading +22% FY 19/20 VS. FY 18/19 Wholesale costs revenues, Execution revenues, etc. Q1 Q2 Q3 Q4 Q1 Q2 FY2018/19 FY2019/20 Pretax Income ratio -2% 12% Productivity: Revenues generated per producer Each bubble represents either Rates, Credit, FX/EM, Securitized Products, Equities Trading or Cash Equities Average quarterly revenues and expenses for FY2018/19 exclude goodwill impairment charge, business portfolio realignment costs and some non-core revenues and expenses 17

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