Freedom Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

RESTRICTED CASH

RESTRICTED CASH

3 Months Ended

Jun. 30, 2023

Restricted cash for the periods ended June 30, 2023, and March 31, 2023, consisted of:


	June 30, 2023		March 31, 2023

Brokerage customers’ cash	$	412,830	$	328,435
Restricted bank accounts	8,532		10,436
Guaranty deposits	91,024		116,628
Deferred distribution payment	23		23

Allowance for restricted cash	(10,522)		(9,994)

Total restricted cash	$	501,887	$	445,528

As of June 30, 2023, and March 31, 2023, part of the Group’s restricted cash is segregated in a special custody account for the exclusive benefit of the relevant brokerage customers.

As of June 30, 2023, and March 31, 2023, restricted cash included a deferred distribution payment amount of $23, representing cash held for distribution to shareholders who have not yet claimed their distributions from the 2011 sale of the Company’s legacy oil and gas exploration and production operations which is the subject of the Estate of Toleush Tolmakov litigation. As a result of disputes between a shareholder’s putative heirs, no party has yet established legal and beneficial ownership of the distribution payment. The Company did not claim an ownership interest in the distribution payment. For additional information regarding this matter see Part II, Item 1 Legal Proceedings of this quarterly report on Form 10-Q.