Third-Party Evaluations

Inclusion in ESG Indices (As of September, 2024)

MSCI Japan Stock ESG Select Leaders Index	MSCI Japan ESG Select Leaders Index is a stock index comprised of Japanese companies selected by MSCI from different sectors on the basis of excellent ESG performance. In March 2024 Japan's Government Pension Investment Fund (GPIF) adopted the index as a core ESG benchmark for its passive investments.
MSCI Japan Empowering Women Index (WIN)	Developed by MSCI, MSCI Japan Empowering Women Index selects Japanese companies that promote and maintain gender diversity among the workforce. It is adopted by the Government Pension Investment Fund (GPIF) as a core ESG benchmark for its passive investments. Daiwa Securities Group Inc. has been selected for eight consecutive years since 2017.
MSCI ESG Leaders Indexes	The constituents of the world-class indexes are companies selected from various industries by MSCI as those excellent in ESG.
FTSE Blossom Japan Index Series	FTSE Blossom Japan Index is a socially responsible investment index developed by FTSE. It is comprised of Japanese enterprises that demonstrate strong ESG practices. It is adopted by Japan's Government Pension Investment Fund (GPIF) as a core ESG benchmark for its passive investments. Daiwa Securities Group Inc. has been included for eight consecutive years since 2017. Daiwa Securities Group Inc. has also been included in FTSE Blossom Japan Sector Relative Index, which has been newly added to GPIF's ESG benchmarks for its passive investments, for three consecutive years since the launch of the index.
FTSE4Good Index	FTSE4Good Index is a socially responsible investment index developed by FTSE, a subsidiary of the London Stock Exchange. Daiwa Securities Group Inc. has been included for 19 consecutive years since 2006.
S&P/JPX Carbon Efficient Index	This index was developed by S&P Dow Jones Indices LLC and is composed of companies that are evaluated to be excellent in terms of the disclosure of environmental information and carbon efficiency (carbon emissions per unit of sales) among the companies that constitute the Tokyo Stock Price Index (TOPIX). It is adopted by the Government Pension Investment Fund (GPIF) as a core ESG benchmark for its passive investments, and Daiwa Securities Group Inc. has been included in the Index for six consecutive years since 2018, when the Index was launched.
Morningstar Japan ex-REIT Gender Diversity Tilt Index (GenDi J)	This index was developed by Morningstar by using the gender equality scores provided by Equileap and is composed of companies excellent in terms of gender diversity. It was adopted by the Government Pension Investment Fund (GPIF) as one of the core ESG benchmark for its passive investments. Daiwa Securities Group Inc. has been included in the Index for two consecutive years since 2023.
Dow Jones Sustainability Indices	Dow Jones Sustainability Indices are sustainability equity indices selected by S&P Global. Daiwa Securities Group Inc. has been included in DJSI World Index and/or DJSI Asia Pacific Index since it launched in 1999. In 2023, we were selected as a component of DJSI Asia Pacific Index.

*THE INCLUSION OF Daiwa Securities Group Inc. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF Daiwa Securities Group Inc. BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

*Morningstar, Inc., and/or one of its affiliated companies (individually and collectively, "Morningstar") has authorized Daiwa Securities Group Inc. to use of the Morningstar Japan ex-REIT Gender Diversity Tilt Logo ("Logo") to reflect the fact that, for the designated ranking year, Daiwa Securities Group Inc. ranks in the top quintile of companies comprising the Morningstar® Japan ex-REIT Gender Diversity Tilt Index^SM ("Index") on the issue of gender diversity in the workplace. Morningstar is making the Logo available for use by Daiwa Securities Group Inc. solely for informational purposes. Daiwa Securities Group Inc. use of the Logo should not be construed as an endorsement by Morningstar of Daiwa Securities Group Inc. or as a recommendation, offer or solicitation to purchase, sell or underwrite any security associated with Daiwa Securities Group Inc. The Index is designed to reflect gender diversity in the workplace in Japan, but Morningstar does not guarantee the accuracy, completeness or timeliness of the Index or any data included in it. Morningstar makes no express or implied warranties regarding the Index or the Logo, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Index, any data included in it or the Logo. Without limiting any of the foregoing, in no event shall Morningstar or any of its third party content providers have any liability for any damages (whether direct or indirect), arising from any party's use or reliance on the Index or the Logo, even if Morningstar is notified of the possibility of such damages. The Morningstar name, Index name and the Logo are the trademarks or services marks of Morningstar, Inc. Past performance is no guarantee of future results.

ESG Ratings (As of September, 2024)

MSCI ESG Ratings	MSCI ESG Ratings assess companies' resilience to ESG risks. Daiwa Securities Group Inc. has received the highest rating "AAA" (seven levels from AAA to CCC).
CDP	CDP is an international non-profit organization that requests world's companies to disclose information on climate change and evaluate their performance. In 2022, Daiwa Securities Group Inc. has been named to CDP's highest rating "A List", recognizing the company as a global leader on climate change initiatives for the first time (eight levels from A to D-).

*THE USE BY Daiwa Securities Group Inc. OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF Daiwa Securities Group Inc. BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED 'AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.

Awards and Recognition (As of November, 2024)

CDP 2023 Supplier Engagement Leader	Daiwa Securities Group was recognized as a Supplier Engagement Leader, the highest rating in the Supplier Engagement Rating by CDP, for the third consecutive year. The Supplier Engagement Rating is designed to evaluate companies' supply chain engagement practices on climate issues.
5th ESG Finance Awards Japan	ESG Finance Awards Japan, sponsored by the Ministry of the Environment, recognizes financial institutions, companies, and other organizations that have made an impact by actively engaging in ESG finance, or environmental / social projects. Daiwa Securities received the Minister of the Environment Award (Silver Award) in the Financial Service Category (Securities Division) for the first time in recognition of its contribution to the expansion of the ESG finance market. Meanwhile, Daiwa Securities Group Inc. was selected for the third year in a row as an Environmentally Sustainable Company that meets certain criteria for disclosure of material environmental issues, based on evaluation criteria such as risks, business opportunities, strategies, KPIs, and governance as well as an Environmental Disclosure Progress Company that has made a high level of improvement in disclosure and is expected to make further growth.
Governor's Special Prize for Green Finance in the ESG Investment Category of Tokyo Financial Award 2021	Tokyo Financial Award, sponsored by the Tokyo Metropolitan Government, recognizes financial companies that develop and provide innovative financial products and services that meet the needs of citizens in Tokyo and contribute to solving issues, or that work to spread ESG investment. Daiwa Asset Management's efforts toward the spread of new investment aimed at carbon neutrality through its CANDRIAM Decarbonization Technology Fund (nickname: Carbon ZERO) received an award in the ESG investment category. Daiwa Asset Management also won the Governor's Special Prize for Green Finance as an excellent company from the perspective of green finance.
Nadeshiko Brand	Daiwa Securities Group Inc. has been selected as a Nadeshiko Brand. The Nadeshiko Brand is an initiative jointly organized by the Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange to recognize listed companies that excel in promoting women's advancement. The Company has been selected nine times since the start of the initiative in 2012. The Company has been making continued efforts to develop an environment where all employees can realize their full potential regardless of their gender, age, disability, nationality, or other attributes. Such efforts include aiming to raise the ratio of women in director's position to at least 30% ahead of the target year of 2030 and making it mandatory to take childcare support leave for male employees for at least two weeks, guaranteeing wages of four weeks during the leave. We will continue to promote diversity and inclusion, including women's advancement, with the goal of improving sustainable corporate value through investment in human capital. Nadeshiko Brand (Ministry of Economy, Trade and Industry website) ⟨Japanese only⟩
Health & Productivity Stock	Daiwa Securities Group Inc. has been selected as a "Health & Productivity Stock," which is jointly organized by the Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange to recognize listed companies that excel in efforts for employees' health. The Company has been selected nine times since the start of the selection in 2015. While the Company has appointed a Chief Health Officer (CHO), executives from each Group company are also actively involved in launching initiatives. As a pioneer in health and productivity management, the Company has widely disclosed and disseminated information and provided other companies with its expertise. The selection recognizes the Company's efforts for developing its initiatives, including the Daiwa ELLE Plan that comprehensively supports women's health, Daiwa Online Care as an online healthcare service for employees, Mindfulness Training as a measure for mental health, and Good Sleep Daiwa as a measure for sleep literacy improvement, in response to its own issues, changes in society, and employees' needs. Health & Productivity Stock (Ministry of Economy, Trade and Industry website) ⟨Japanese only⟩
Certified Health & Productivity Management Outstanding Organizations (White 500)	The Ministry of Economy, Trade and Industry chooses outstanding enterprises engaging in advanced health and productivity management as White 500 companies. Daiwa Securities Group Inc. has been certified for eight consecutive years since 2017. Certified Health & Productivity Management Outstanding Organizations (Ministry of Economy, Trade and Industry website)
The PRIDE Index	The PRIDE Index was initiated by work with Pride in 2016 as the first evaluation index set in Japan for sexual minorities-related initiatives implemented by companies and other organizations. The Index is intended to foster in the country the creation of workplaces where sexual minorities, including LGBTQ+ people can work with comfort. Four companies, specifically, Daiwa Securities Group Inc., Daiwa Securities, Daiwa Asset Management and Daiwa Institute of Research received the highest "Gold" evaluation in the PRIDE Index 2024 in recognition of the initiatives that they had implemented for LGBTQ+ people and other sexual minorities at their workplaces. The PRIDE Index (work with Pride) ⟨Japanese only⟩
DX Stocks	In May 2024, Daiwa Securities Group Inc. was selected as a DX Stock under the DX Stock Selection program operated jointly by the Ministry of Economy, Trade and Industry, the Tokyo Stock Exchange and the Information-technology Promotion Agency (IPA). The "DX Stocks" selects companies listed on the Tokyo Stock Exchange that have established an internal system to promote DX that leads to improving corporate value, and have demonstrated excellent digital utilization. The selection recognizes that the Company is the first financial institution that has started the use of ChatGPT by all employees, participated in the development of START, which is a private trading system as Japan's first security token distribution market, to start handling digital securities for the first time in Japan, disclosed the Group's AI Governance Mission Statement, and has made efforts for developing advanced digital human resources. DX Stocks 2024 (Ministry of Economy, Trade and Industry website) ⟨Japanese only⟩
Family-Friendly Employer Certification Logo (Known as "Kurumin" and "Platinum Kurumin")	Kurumin is a certification logo provided by the Ministry of Health, Labour and Welfare under the Act on Advancement of Measures to Support Raising Next-Generation Children. Daiwa Securities Group Inc. has been certified since June 9, 2008. Daiwa Securities, Daiwa Asset Management, Daiwa Institute of Research, and Daiwa Securities Business Center have also been certified. Moreover, Daiwa Securities, Daiwa Asset Management, Daiwa Institute of Research, and Daiwa Securities Business Center received Platinum Kurumin. It was given to especially excellent companies that implement higher level of parenting supports. Kurumin and Platinum Kurumin (Ministry of Health, Labour and Welfare website) ⟨Japanese only⟩
Logo for Promoting Work Environment for Balancing Work and Long-Term Care (Known as "Tomonin")	Daiwa Securities Group has obtained Tomonin from the Ministry of Health, Labour and Welfare for our efforts in establishing a work environment where employees can pursue their careers while balancing work and nursing care. Tomonin (Ministry of Health, Labour and Welfare website) ⟨Japanese only⟩
Analyst Rankings of "Nikkei Veritas" and "Institutional Investor"	"Nikkei Veritas" Analyst Ranking Nikkei Veritas Analyst Ranking is one of Japan's most recognized rankings with a history of over 30 years. It is determined based on the votes of institutional investors in Japan. In 2024, Daiwa Securities earned 1st in the Nikkei Veritas Analyst Ranking by company for the sixth year in a row. "Institutional Investor" All-Japan Research Team Survey Institutional Investor All-Japan Research Team Survey is one of the world's most well-known surveys. It is determined based on the votes of primarily foreign institutional investors. In 2024, Daiwa Securities earned 1st in Institutional Investor All-Japan Research Team Survey for the fifth year in a row. Click here for details ⟨Japanese only⟩
GRESB Real Estate Assessment	Daiwa Office Investment Corporation and Daiwa Securities Living Investment Corporation continuously participate in the GRESB Real Estate Assessment, a global ESG assessment of real estate companies and funds. In the 2023 Assessment, each investment corporation obtained a "Green Star" rating recognizing outstanding achievement in both the Management Component, which evaluates policies, organizational systems, etc. for promoting ESG, and the Performance Component, which evaluates environmental performance, initiatives with tenants, etc., at buildings in the portfolio. Daiwa Office Investment Corporation Daiwa Office Investment Corporation earned the rating of "4 Stars" in the GRESB Rating, which assigns a rating out of five stars based on where the participant's overall score ranks globally. Moreover, in the GRESB Public Disclosure Assessment, which measures the comprehensiveness of ESG information disclosure, the company received the top rating of "A" on the five-tiered evaluation scale for the third year in a row. Daiwa Securities Living Investment Corporation Daiwa Securities Living Investment Corporation received a rating of "2 Stars" in the GRESB Real Estate, as well as a rating of "A" in the GRESB Public Disclosure Assessment for the second year in a row. Daiwa Office Investment Corporation "Participation in External Assessments" Daiwa Securities Living Investment Corporation "Acquisition of External Assessments/Certifications"
HDI-Japan's 2023 HDI Rating Benchmarks (Securities Industry)	Received the highest Three Star rating in both the "Customer Service" and "Support Portal" categories of HDI-Japan's Rating Benchmark 2023 (Securities Industry).

ISO Certification (As of May, 2024)

ISO14001	Daiwa Institute of Research has received ISO 14001 certification, an international standard for environmental management systems. Through its business activities, the firm endeavors to realize a harmonious relationship with the global environment, and actively works to reduce the environmental load. Business site: Daiwa Eitai Building Office Scope: All business activities involved in system consulting and system integration by Daiwa Institute of Research
ISO/IEC20000	Daiwa Institute of Research (Systems Management Division) has received ISO 20000 certification, an international standard for IT service management systems. To provide customers with a high-quality IT service in a stable manner, the firm engages in enhancement of IT services quality, cost management, business optimization, and continual improvements.
ISO/IEC27001	Daiwa Institute of Research (Systems Management Division and Health Tech Business Process Outsourcing Center) has received ISO 27001 certification, an international standard for information security management systems. To maintain and manage the confidentiality, integrity, and availability of its information assets, the firm is working on improvement of the information security.
ISO/IEC27017	Daiwa Institute of Research (Systems Management Division) has received ISO 27017 certification, an international standard for information security in relation to cloud services. As an add-on certification to ISO 27001, ISO 27017 deals with information security specific to cloud services.
ISO9001	Daiwa Institute of Research (Enterprise Solution Department) has received ISO 9001 certification, an international standard for quality management systems. (Scope: Design and development of application software based on customer requirements)