MORGAN STANLEY

CUSTOMER AND SUPPLIER CONCENTRATIONS Customer ConcentrationsThe following customers provided 10 percent or more of the Company's revenues (in thousands): Three Months Ended September 30, 2024 2023 Amount Percent Amount Percent Total revenue $ 2,715,096 100.0 % $ 2,484,618 100.0 % Customer concentrations HSBC Bank (1) $ 578,783 21.3 % $ 599,048 24.1 % Morgan Stanley (1) $ 345,058 12.7 % $ 259,161 10.4 % (1) Sales with this trading partner include sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.

CUSTOMER AND SUPPLIER CONCENTRATIONS Customer ConcentrationsThe following customers provided 10 percent or more of the Company's revenues (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Amount Percent Amount Percent Amount Percent Amount Percent Total revenue $ 2,610,651 100.0 % $ 2,317,150 100.0 % $ 7,174,084 100.0 % $ 6,167,206 100.0 % Customer concentrations Morgan Stanley(1) $ 485,924 18.6 % $ 205,370 8.9 % $ 861,693 12.0 % $ 545,052 8.8 % HSBC Bank (1) $ 572,054 21.9 % $ 328,465 14.2 % $ 1,628,466 22.7 % $ 751,828 12.2 % (1) Sales with this trading partner include sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.

CUSTOMER AND SUPPLIER CONCENTRATIONS Customer ConcentrationsThe following customers provided 10 percent or more of the Company's revenues (in thousands): Three Months Ended September 30, 2023 2022 Amount Percent Amount Percent Total revenue $ 2,484,618 100.0 % $ 1,900,351 100.0 % Customer concentrations Morgan Stanley(1) $ 259,161 10.4 % $ 208,992 11.0 % HSBC Bank (1) $ 599,048 24.1 % $ 134,524 7.1 % (1) Sales with this trading partner include sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.

CUSTOMER AND SUPPLIER CONCENTRATIONS Customer ConcentrationCustomer providing 10 percent or more of the Company's revenues for three and six months ended December 31, 2021 are presented on a comparative basis in the table below. in thousands Three Months Ended Six Months Ended December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Amount Percent Amount Percent Amount Percent Amount Percent Total revenue $ 1,946,364 100.0 % $ 1,518,744 100.0 % $ 3,960,335 100.0 % $ 3,384,860 100.0 % Customer concentrations Morgan Stanley (1) $ 246,306 12.7 % $ 54,355 3.6 % $ 418,606 10.6 % $ 137,714 4.1 % (1)Sales with this trading partner includes sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.Customers providing 10 percent or more of the Company's accounts receivable as of December 31, 2021 are presented on a comparative basis in the table below. in thousands December 31, 2021 June 30, 2021 Amount Percent Amount Percent Total accounts receivable $ 84,994 100.0 % $ 89,000 100.0 % Customer concentrations Customer A $ 39,880 46.9 % $ 15,588 17.5 % Customer C 9,458 11.1 % — 0.0 % $ 49,338 58.0 % $ 15,588 17.5 % Customers providing 10 percent or more of the Company's secured loan receivable balances as of as of December 31, 2021 are presented on a comparative basis in the table below. in thousands December 31, 2021 June 30, 2021 Amount Percent Amount Percent Total secured loans $ 126,303 100.0 % $ 112,968 100.0 % Customer concentrations Customer B $ 13,500 10.7 % $ — 0.0 % Supplier ConcentrationThe Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers.

CUSTOMER AND SUPPLIER CONCENTRATIONS Customer Concentration The following customers provided 10 percent or more of the Company's revenues for the three months ended September 30, 2022. in thousands Three Months Ended September 30, 2022 September 30, 2021 Amount Percent Amount Percent Total revenue $ 1,900,351 100.0 % $ 2,013,971 100.0 % Customer concentrations Morgan Stanley(1) $ 208,992 11.0 % $ 172,300 8.6 % (1) Sales with this trading partner includes sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.

Morgan Stanley Capital Group Inc. 7.2 % 9.1 % 10.9 %

Morgan Stanley Capital Group Inc. 10.9 % 4.4 % 5.9 % 7.8 % — % — %