Business Description

DESCRIPTION OF BUSINESS Overview Freedom Holding Corp. ("FRHC" and, together with its subsidiaries, the "Company" or the "Group") is a corporation organized in the United States under the laws of the State of Nevada that through its operating subsidiaries provides securities brokerage, securities dealing for customers and for our own account, market making activities, investment research, investment counseling, retail and commercial banking, insurance products, payment services information, processing services and lifestyle services. The Company also owns several ancillary businesses, which complement its core financial services businesses, including telecommunications and media businesses in Kazakhstan that are in a developmental stage. FRHC is the holding company of subsidiaries incorporated in Kazakhstan, Cyprus, the United States (USA), the United Kingdom (UK), Armenia, the United Arab Emirates (UAE), Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, Türkiye, Bulgaria, Germany, Greece, Lithuania, The Netherlands, Portugal, Spain, Austria, France and Poland and the Group also has a representative office in Italy. FRHC's subsidiaries in the United States include a broker-dealer that is registered with the United States Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA"). FRHC's common stock is traded on the Nasdaq Capital Market, the Kazakhstan Stock Exchange ("KASE"), and the Astana International Exchange ("AIX"). FRHC's common stock is included in Russell 3000® Index. As of March 31, 2026, FRHC owned, directly or indirectly, the following subsidiaries: Name of subsidiary Jurisdiction of Incorporation Business Area (1) Brokerage Segment Freedom Finance JSC ("Freedom KZ") Kazakhstan Securities broker-dealer Freedom Finance Global PLC ("Freedom Global") Kazakhstan Securities broker-dealer Freedom Finance Europe Limited ("Freedom EU") Cyprus Securities broker-dealer Freedom Finance Armenia LLC ("Freedom AR") Armenia Securities broker-dealer Prime Executions, Inc. (d/b/a Freedom Capital Markets) ("FCM") USA Securities broker-dealer Foreign Enterprise LLC Freedom Finance Uzbekistan Securities broker-dealer Freedom Broker LLC Kyrgyzstan Securities broker-dealer Freedom Broker Global Markets Ltd UAE Securities broker-dealer FREEDOM YATIRIM MENKUL DEĞERLER ANONİM ŞİRKETİ Türkiye Securities broker-dealer Banking Segment Freedom Bank Kazakhstan JSC ("Freedom Bank KZ") Kazakhstan Commercial bank Freedom Bank Tajikistan CJSC ("Freedom Bank TJ") Tajikistan Commercial bank OUSA Nova LLP Kazakhstan Stress asset management company Insurance Segment LIC Freedom Life JSC ("Freedom Life") Kazakhstan Life/health insurance Freedom Finance Insurance JSC ("Freedom Insurance") Kazakhstan General insurance Other segment Ticketon Events LLP ("Ticketon") Kazakhstan Online ticket sales Chiptahoi Muosir LLC Tajikistan Online ticket sales Ticketon Events KG LLC Kyrgyzstan Online ticket sales Ticketon LLC Uzbekistan Online ticket sales Freedom Digital Exchange CJSC Kyrgyzstan Digital asset services Freedom Finance Special Purpose Company LTD ("Freedom SPC") Kazakhstan Issuance of debt securities Freedom Finance Commercial LLP Kazakhstan Sales consulting Freedom Technologies LLP ("Paybox") Kazakhstan Payment services Freedom Processing LLP Kazakhstan IT solutions and products processes data for payment services Freedom Pay LLP Kazakhstan Payment platform Paybox Money LLP Kazakhstan Implementation of payment services Freedom Pay Tajikistan LLC Tajikistan Bank Payment Agent Freedom Pay Kyrgyzstan LLC Kyrgyzstan Provision of payment services Freedom Payments LLC Uzbekistan Provision of payment services Aviata LLP ("Aviata") Kazakhstan Online travel ticket aggregator Internet-Tourism LLP Kazakhstan Online travel ticket aggregator Arbuz Group LLP ("Arbuz") Kazakhstan Online retail trade and e-commerce Prime Retail LLP Kazakhstan Online retail trade and e-commerce Retail Prime Astana LLP Kazakhstan Online retail trade and e-commerce Arbuz Pharma LLP Kazakhstan Retail (pharmaceuticals) Freedom Telecom Holding Limited ("Freedom Telecom") Kazakhstan Telecommunications Freedom Telecom Operations LLP Kazakhstan Wireless telecommunications Freedom Media LLP ("Freedom Media") Kazakhstan Media and entertainment Freedom Cloud LLP ("Freedom Cloud") Kazakhstan Telecommunications SilkNetCom LLP ("SilkNetCom") Kazakhstan Telecommunications Elitecom LLP Kazakhstan Telecommunications Freedom Cloud Holding Ltd.…