Securities Report (Domestic Investment Trust Beneficiary Certificates) - Period 5 (2025/04/16 - 2026/04/15)

Reo's Capital Works Co., Ltd. Securities Report (Domestic Investment Trust Beneficiary Certificates) - Period 5 (2025/04/16 - 2026/04/15)

This securities report has been prepared in accordance with the Financial Instruments and Exchange Act, with the purpose of disclosing information to investors of domestic investment trust beneficiary certificates. The reporting period covers Period 5, from April 16, 2025, to April 15, 2026, and includes details on the investment trust’s performance, asset composition, risk factors, and the asset management company’s operational status.

Reo's Capital Works Co., Ltd. operates as an asset management firm, offering a diverse range of investment trust products to institutional and individual investors in Japan and abroad. The company is particularly known for its long-term value investment strategy, with a core philosophy centered on compounding returns through the 'power of time.' This report outlines the implementation of this strategy, portfolio evolution, and responses to market conditions.

The main structure of the report is as follows:

Part 1 Summary Information - Overview of the investment trust - Investment policy and target assets - Summary of investment performance - Breakdown of major holdings

Part 2 Financial Information - Balance sheet (trial balance) - Income statement (profit and loss statement) - Cash flow statement - Accounting estimates and policies

Part 3 Investment Management Information - Background and structure of the investment management team - Risk management policies and implementation - Compliance framework - Auditor’s opinion

Part 4 Other Information - Investor cautions and warnings - Tax-related considerations - Outlook and market environment assessment - Corporate governance disclosures

This report is provided for informational purposes to support investment decisions and does not constitute an offer to sell or a guarantee of investment performance. Investors are advised to fully understand the risk factors and market volatility described in this report and to make investment decisions based on their own judgment.

Reo's Capital Works Co., Ltd. will continue its commitment to transparent disclosure and investment management practices that uphold investor trust.