November 30, 2023

Impact Investment in PLANTX Inc.
-Contributing to environmental conservation through sustainable plant productionThe Dai-ichi Life Insurance Company, Limited (the "Company"; President and Representative Director: ToshiakiSumino) has invested JPY 100 million in PLANTX Inc. (“PLANTX”; President and Representative Director: KousukeYamada), a Japanese agri-tech start-up that designs, manufactures, and operates artificial light-type plant factories andcarries out research into environmental parameters for plant production. This impact investment 1 is part of theCompany's ESG investments.

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PLANTX is a Japanese start-up that designs,manufactures, and operates artificial lighttype plant factories capable of producing highquality plants in wide-ranging locations withminimal resources.

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PLANTX’s plant factories consist of closedtype plant production machines capable ofprecisely controlling the three key elements ofplant cultivation environments: light, air, andwater. As such, they have the potential toproduce a wide variety of high-quality plants.
A closed-type plant production machine; photo courtesy of PLANTX⚫

Compared to conventional farmland cultivation methods, closed-type plant production machines contribute toenvironmental conservation by consuming fewer resources. In addition to requiring 90%2 less water, themachines also use substantially less chemical fertilizers—which are a source of marine pollution and soil
contamination—with reductions of 73%２ in nitrogen and 81%２ in phosphoric acid use respectively, whileeliminating the need for agrichemicals altogether.

1

Impact investment is an investment activity where an investor makes investment decisions with the intent to gain investment returns and generate social

impact (e.g., structural change in society).
2Reduction values are for plant factories producing lettuce using closed-type plant production machines.

1Applicable SDGs

Social Impact⚫

Contributing to environmental conservation through theproduction of high-quality plants with minimal resources
PLANTX contributes to environmental conservation by
reducing the amount of resources used for plant production,
including water as well as chemical fertilizers which are one
cause of marine pollution and soil contamination.

The Company expects high returns from its investment in PLANTX. Through this investment, the Company will also
provide financial support for and continually monitor the progress of PLANTX’s initiatives, which are hoped tocontribute to environmental conservation by reducing the use of water, chemical fertilizers, and pesticides.
As a responsible institutional investor, the Company will continue to actively engage in ESG investment to realize asustainable society as well as to improve its investment returns through sophisticated and diverse investment methods.

Kousuke Yamada, President and Representative Director of PLANTX Inc., provided the following comments:
In recent years, food and agricultural-related issues have grown increasingly acute.
Contributing factors include a growing global population; decreasing availability ofwater, fertilizer, and other limited resources; climate change; and a shrinking
population of farm villages.
Seeking to resolve these issues, at PLANTX we leverage the power of science andengineering to develop proprietary plant cultivation systems. The first large-scale
plant factory to adopt PLANTX technologies was established in 2022 and provides
stable, year-round shipments of high-quality vegetables to approximately 200 stores.
We have also established a laboratory to carry out cutting-edge research into plantcultivation, and we have started diversifying our range of products to include not
only leafy vegetables but also fruit crops and medicinal plants, all the while increasing quality.
Using this investment from The Dai-ichi Life Insurance Company, we intend to accelerate our efforts to realize asociety in which everyone can enjoy safe, healthy, and high-quality dietary lifestyles in a sustainable manner.

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[Company Profile]
Trade Name

PLANTX Inc.

Head Office

3‐6‐15 Kyobashi, Chuo-ku, Tokyo

Representatives

Kousuke Yamada, President & Representative Director

Established

June 10, 2014

Business

The design, manufacture, and operation of artificial light-type plant factories

Description

Research into environmental parameters for plant cultivation
Production and sales of plants

Dai-ichi Life's Impact Investment History (Last 3years)
Headline

Release Date

URL

Investment in Climate Infrastructure Fund for Emerging Countries- Contributing to Resolving Climate Change Challenges Through Joint
Public/Private Support for Development of a Low Carbon Economy -Jul. 8, 2021

https://www.dai-ichilife.co.jp/english/news_relea
se/2021/pdf/index_003.pdf

Impact Investment in PaMeLa Co., Ltd.
- Contributing to Improving Patients' Quality of Life throughDevelopment of Medical Device That "Visualizes" Pain Using Brain
Waves -Sep. 29, 2021

https://www.dai-ichilife.co.jp/english/news_relea
se/2021/pdf/index_008.pdf

Impact Investment in WASSHA Inc.
- Contributing to Sustainable Development through Offering an ElectricPower Service to Off-Grid Communities in Africa -Jun. 10, 2022

https://www.dai-ichilife.co.jp/english/news_relea
se/2022/pdf/index_004.pdf

Impact Investment in READYFOR INC.
- Achieving a Society that Overflows with Heartfelt Support throughVitalization of the Donation and Subsidy Market -Jul. 13, 2022

https://www.dai-ichilife.co.jp/english/news_relea
se/2022/pdf/index_005.pdf

Impact Investment in Clean Energy Connect- Accelerating uptake of renewable energy by expanding off-site corporate
PPAs -Aug. 1, 2022

https://www.dai-ichilife.co.jp/english/news_relea
se/2022/pdf/index_006.pdf

Impact Investment in JEPLAN, INC.
- Contributing to a Sustainable Society through PET Chemical Recycling
Technologies -Aug. 24, 2022

https://www.dai-ichilife.co.jp/english/news_relea
se/2022/pdf/index_007.pdf

Impact Investment in a Venture Fund by Energy & Environment
Investment, Inc.
- Supporting a Decarbonized Society via Venture Fund Focused on theEnvironment and Energy Sectors -Sep. 15, 2022

https://www.dai-ichilife.co.jp/english/news_relea
se/2022/pdf/index_008.pdf

Impact Investment in KAKEHASHI Inc.
- Contributing to Medical DX and to Establishing a Sustainable Medical
System -Apr. 19, 2023

https://www.dai-ichilife.co.jp/english/news_relea
se/2023/pdf/index_001.pdf

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