In accordance with the spirit of the "Pioneer Group Charter for Corporate Operations," Pioneer shall strive to appropriately disclose corporate information. Aiming to ensure highly transparent corporate activities at all times, Pioneer shall implement timely and appropriate public relations activities in conjunction with actively and fairly disclosing information about its own activities to all stakeholders, including shareholders, investors, customers, business partners, the news media, and local communities. Based on these basic principles, Pioneer Group directors, executive officers, corporate auditors and employees shall observe these Disclosure Policies in disclosing information to the public.

Pioneer discloses information in accordance with all relevant laws and regulations, including the Financial Instruments and Exchange Law of Japan and timely disclosure rules established by stock exchanges. In addition, Pioneer strives to actively and fairly disclose other information deemed to be of interest to shareholders, investors, and society in terms of deepening their understanding of the Pioneer Group and facilitating investment decisions.

Pioneer believes that the Internet is a crucial source of information, as are newspapers, television and other media. From the standpoint of ensuring fair disclosure, Pioneer promptly uploads to its website various disclosure documents, including earnings information, annual reports and corporate presentations, wherever possible in both Japanese and English.

Regarding earnings information, in principle, Pioneer maintains "silent periods" from the end of fiscal periods until earnings announcements. During these periods, Pioneer refrains from commenting on earnings results or forecasts that could affect investment decisions. However, Pioneer makes announcements as required if it expects results to differ materially from earnings forecasts, etc., already made public.

The Pioneer Group discloses information that may contain statements about its plans, estimates, strategies, or beliefs, or other statements that are not historical facts. They are forward-looking statements based on management's assumptions and beliefs in light of the information available to it at the time of the statements. Actual results may differ materially from those discussed in the forward-looking statements due to a number of important risks and uncertainties.