Securities Report (Domestic Investment Trust Beneficiary Certificates) - 21st Period (Nov 19, 2025 - May 18, 2026)

Daiwa Asset Management Co., Ltd. Securities Report (Domestic Investment Trust Beneficiary Certificates) - 21st Period (Nov 19, 2025 - May 18, 2026)

This report is prepared in accordance with the Financial Instruments and Exchange Act to disclose information regarding domestic investment trust beneficiary securities. The reporting period covers the 21st term from November 19, 2025, to May 18, 2026, and includes detailed information on investment trust performance, asset composition, income status, risk factors, and investment policies during this period.

Daiwa Asset Management Co., Ltd. aims to enhance transparency and investor communication through this report. It provides performance analysis of individual funds, responses to changing market conditions, progress on investment strategies, and future outlooks.

Additionally, the report discloses compliance frameworks, internal control systems, and policies for managing conflicts of interest, demonstrating efforts toward improved governance transparency. This document is publicly available for investor reference via the Financial Services Agency's EDINET system and the company's official website.

Investment trusts are not principal-protected financial products and may result in losses due to market fluctuations. The contents of this report do not guarantee future investment performance. Prospective investors should also review the offering memorandum and supplementary documents before making investment decisions.