Investor Presentation for FY25

from the beginning

Investor Presentation for FY25

Mizuho and Art

• Key Messages

1 Becoming a leading global financial institution

• Japan at a historic turning point

• Exiting the

• Proven strengths, rooted in legacy. Our predecessors helped shape Japan's industrial rise; and that DNA still underpins the strengths we deliver today.

• Navigating global uncertainty with decisive actions

• Further growth executing our institutional aspiration: delivering Mizuho's unique value in a VUCA world

• Preparing for risks & capitalizing on tailwinds

• Expecting to deliver another all-time high for Net Income in FY26

• Raising our Medium-term Financial Targets

• Middle East conflict: Impact on business

• Toward & Beyond P/B ratio 2.0x

2 Establishing our unique competitive edges - Maintaining a sound & stable portfolio

• Business Portfolio (FY25)

• Credit Exposure: largely Investment Grade and centered on large corporates

• Credit Portfolio outside Japan (Mar-26)

• Americas Corporate & Investment Banking (CIB): Stability and strength

- Commitment to disciplined financial management

• Maintaining discipline on expenses

• Balance Sheet management: balancing both stability and profitability

• RWA growth from robust demand for financing. Commitment to improve RORA through disciplined RWA allocation unchanged.

• Cross-shareholdings: continuing reduction in line with targets, aiming to achieve market value less than 20% of Net Asset

• Bond Portfolio: cautious approach toward JGBs and Foreign bonds unchanged

• JPY Deposit Base: aiming for further acquisition but staying disciplined on cost

• BOJ: estimating annual pre-tax benefit of JPY 120B per 25bps hike

• Capital Policy

• FY24-25 Allocation Track Record for CET1 capital

• Maintaining disciplined approach to growth investments to further develop Focus Business Areas

• Driving Portfolio Value Uplift and Core Business Growth through Partner Synergies

• Returning Capital in line with our Policy

• Earnings per Share (EPS) & Total Shareholder Return (TSR)

- Focus Business Areas: strengthening edges & addressing challenges

• Our

• Our

• Looking back - strong growth delivered even throughout NIRP by diversifying revenue sources

• Progress by Focus Business Area (1)

• Strengthening our competitive edge in CIB business (IB League Tables)

• Solid progress in domestic corporate business

• Americas Corporate & Investment Bank (CIB): Product and client expansion driving balanced growth

• Accelerating growth in high-potential areas within EMEA and APAC

• Progress by Focus Business Area (2)

• Mass Market Retail Business: steady execution, further growth potential

• (Ref.) Alliance with Rakuten Group: expanding our customer base by connecting everyday consumer activities with financial solutions

• (Ref.) Complementing customer base through Strategic Capital and Business Alliance with Rakuten Securities

• Working smarter with AI, making more time for human creativity

• Why invest in Mizuho?

• Appendix

Summary of Financial Results

FY26 Earnings Outlook, Shareholder Return & Medium-term Financial Targets

Financial Results by In-house Company

Financial Results by In-house Company (Details) (1)

Financial Results by In-house Company (Details) (2)

Financial Results by Group Company

Consolidated Gross Profits (1): Net Interest Income (NII)

Breakdown of NII

Loans in Japan

Loans outside Japan

Consolidated Gross Profits (2): Net Fee and Commission Income + Fiduciary Income

Non-interest Income

Consolidated Gross Profits (3): Net Trading Income + Net Other Operating Income

Overview of Balance Sheet (Mar-26)

Securities Portfolio

Asset Quality

Basel Regulatory Disclosures

Sustainability Highlights (1)

Sustainability Highlights (2)

Governance (1) Skill Matrix of the Board of Directors

Governance (2) Compensation framework for executives

Definitions

Abbreviations