Our company, as a fair and impartial intermediary in the securities market, has decided, in principle, not to exercise voting rights for securities (*) held under our name in our proprietary trading accounts. Additionally, in principle we generally do not grant blank proxy votes.
However, in cases where proposals submitted to the shareholders' meeting are recognized as likely to significantly damage shareholder value, or where we determine it is necessary or reasonable, we may exercise voting rights in accordance with pre-determined rules.
Furthermore, if we hold the same securities in both investment accounts and proprietary trading accounts, we will exercise the voting rights in the same manner as for the investment account.
(*) This refers to listed stocks and investment units of corporate-type investment trusts held in our proprietary trading account, including securities received through securities lending transactions and other collateral agreements.

SMBC Nikko Securities Inc.
January 31, 2025