Preliminary rating as of April 13, 2026* Preliminary rating Preliminary amount (bil. ¥) Coupon type Legal final maturity date Overcollateralization ratio (%) § AAA (sf) 16.5 Fixed rate May 10, 2061 27.2 Note: This presale report is based on information as of April 15, 2026. The ratings shown are preliminary. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. Accordingly, the preliminary ratings should not be construed as evidence of final ratings. This report does not constitute a recommendation to buy, hold, or sell securities. *We announced the assignment of our preliminary rating to JHF's series 228 notes on April 13, 2026. This report reflects updated information regarding the receivables pool and the
