Focusing on Key Investment Areas and Technologies Promoted by the Japanese Government! Announcement of the Start of Management for "Hifumi Policy Drive pro," an Investment Trust Focused on Policy-Related Stocks

Rheos Capital Works Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President and CEO: Mitsuhiro Yuasa; hereinafter "the Company"), an SBI Group company, announced today, July 6, 2026, that it has begun managing "Hifumi Policy Drive pro," a publicly offered actively managed investment trust whose primary investment targets are stocks of companies engaged in businesses related to the growth strategy promoted by the Japanese government (policy-related stocks). The initial amount set for the fund was 1,670,540,000 yen.

Background of Fund Establishment ~Investing in Japan's Reborn Future in an Era of Inflation~

Through discussions at the "Council for New Growth Strategy," the Japanese government aims to achieve a strong economy by promoting crisis management investment and growth investment in collaboration between the public and private sectors. Towards the formulation of the "Basic Policy 2026," a draft roadmap for public-private investment in key products and technologies such as physical AI, semiconductors, quantum computing, unmanned aerial vehicles, and rockets has been released, gradually clarifying the direction of strategies that will influence Japan's growth.

We believe that while the companies benefiting from such policies are diverse, there are many "excellent companies" whose value is not yet fully recognized by the market. Based on the expertise we have cultivated to date, we will drive Japan's future and investors' asset formation by investing in these excellent companies.

This fund is the third in our "pro" series of funds. We position the existing "Hifumi" series, such as Hifumi Touchn and Hifumi World, as "basic," and have named the fund series for those who want to experience more investment appeal and excitement, while sharing commonalities, as "pro."

Special Page: https://hifumi.rheos.jp/lp/policydrivepro/

Product Site: https://hifumi.rheos.jp/fund/policydrive/

Concept Movie: https://www.youtube.com/watch?v=LZgsNBd2egQ

Fund Features

Feature 1: Policy-related stocks listed in Japan are the primary investment targets.

Feature 2: The policy is to maintain a high ratio of actual stock holdings.

Feature 3: Management is conducted through a mother fund via a family fund structure.

Feature 4: If the net asset value per unit exceeds 20,000 yen, a cost (performance fee) based on the fund's investment performance will be incurred.

A performance fee is incurred when the net asset value per unit exceeds the HWM (High Water Mark: the highest past net asset value per unit). The initial HWM is set at 20,000 yen, and a performance fee of 22% (20% excluding tax) is charged on the amount exceeding the HWM. The net asset value per unit after deducting the performance fee becomes the new HWM, and the performance fee will be incurred on any amount exceeding that level in the future. The performance fee is not charged on the total amount of assets held by the customer.

* The above management may not be possible depending on fund flows, market conditions, etc.

Fund Overview

Name

Hifumi Policy Drive pro

Product Classification

Additional Investment Trust / Domestic / Equities

Attribute Classification

Other Assets (Investment Trust Securities (General Equities)) / Once a Year / Japan / Family Fund

Management Company

Rheos Capital Works Co., Ltd.

Notification Date

May 29, 2026

Initial Subscription Period

June 15, 2026 to July 3, 2026

Continuous Subscription Period

July 6, 2026 to September 17, 2027

The continuous subscription period will be renewed by submitting a notification of securities offering before the expiration of the above period.

Establishment Date

(Start of Management)

July 6, 2026

Purchase Fee

None

Trust Fees

The trust fee is the sum of the basic fee and the performance fee.

(1) Basic Fee

An amount calculated by multiplying the net asset value of the trust property by an annual rate of 0.55% (0.50% excluding tax).

This is paid from the trust property at the end of the first six months of each accounting period (or the next business day if such day is a holiday), at the end of each accounting period, or upon termination of the trust.

Allocation of Basic Fee

Function as Trust Company: 0.264% per annum (0.24% excluding tax)

Function as Sales Company: 0.264% per annum (0.24% excluding tax)

Custodian Company: 0.022% per annum (0.02% excluding tax)

(2) Performance Fee

In addition to the basic fee, the management company will receive a performance fee based on the High Water Mark method.

The assessment method is as follows: if the net asset value per unit of 10,000 units on the assessment date exceeds the High Water Mark, an amount calculated by multiplying the difference between the net asset value per unit and the High Water Mark by a rate of 22% (20% excluding tax), and then multiplying by the number of outstanding units divided by 10,000 on the calculation date, will be recorded and reflected in the fund's net asset value per unit.

The High Water Mark is set at 20,000 yen (per 10,000 units) on the establishment date. From the establishment date onwards, on each assessment date, if the net asset value per unit on that day (before deduction of any profit distribution or performance fee) exceeds the High Water Mark at that time, the High Water Mark will be adjusted to that net asset value per unit from the next business day. However, even if the High Water Mark is not changed, if a profit distribution is made at the time of settlement, the High Water Mark will be adjusted by deducting the amount of the profit distribution.

This is paid from the trust property at the end of the first six months of each accounting period (or the next business day if such day is a holiday), at the end of each accounting period, or upon termination of the trust.

Reserve for Trust Property

None

Redemption Maturity Date

June 20, 2036 (The redemption maturity date may be extended or redeemed early.)

<Notes>

The content of this press release is based on information available at the time of disclosure, and we do not guarantee its accuracy or completeness. The information contained herein is subject to change without notice. Investment trusts are different from deposits and insurance contracts and may result in a loss of principal due to fluctuations in interest rates or market prices. As risks and costs vary for each investment trust, please read the investment trust prospectus (offering prospectus), supplementary prospectus, etc., carefully before purchasing.

About Rheos Capital Works Co., Ltd.

Rheos Capital Works is an asset management company founded in 2003 with the management philosophy of "Contributing to society through capital markets." The "Hifumi" series of investment trusts, which we manage and sell, supports customers' long-term asset formation with visible management. In our investment advisory business, we manage assets entrusted to us by corporate pension funds and institutional investors both domestically and internationally. Rheos Capital Works is a group company of SBI Global Asset Management Co., Ltd. (Securities Code 4765). Please note that the company name will be changed to "SBI Rheos Capital Works Co., Ltd." on December 1, 2026.

URL: https://www.rheos.jp/

Fees and Risks Related to Investment Trusts: https://www.rheos.jp/policy/risk/

Financial Instruments Business Operator Kanto Local Finance Bureau (Kinsho) No. 1151

Member of the Investment Trusts Association of Japan

Note: This press release is intended to publicly announce our information, services, and achievements and is not intended for investment solicitation.