September 15, 2022

Impact Investment in a Venture Fund by Energy & Environment Investment, Inc.
- Supporting a Decarbonized Society via Venture Fund Focused on the Environment and Energy Sectors The Dai-ichi Life Insurance Company, Limited (the “Company”; President and Representative Director: SeijiInagaki) has decided to invest JPY 1.5 billion in the “EEI Fund 5 Innovation and Impact Investment” (the “Fund”), aventure fund formed by Energy & Environment Investment, Inc. (“EEI”; President: Shuichiro Kawamura) thatfocuses on the environment and energy sectors. This impact investment1 is a part of the Company’s ESGinvestments.
EEI is Japan’s only independent venture capital focused on the environment and energy sectors. In 2019, theCompany invested in the “EEI Fund 4 Innovation and Impact Investment” formed by EEI2 and highly regards EEI’s
records of investing in and fostering startups in the environment field. The Company has decided to makeinvestments in the Fund formed this time too, in the expectation that it will encourage the further promotion of inJapan. The Company supports the business growth of startups that create innovation and business in the environment
and energy sectors and expects that it will accelerate the realization of carbon neutrality by 2050.
Through this investment, the Company not only expects investment returns, but will provide capital support for theinitiatives of EEI, which are expected to reduce greenhouse gas (GHG) emissions (social impact). Further, theCompany will continuously monitor the progress of these initiatives.
As a responsible institutional investor, the Company will continue to actively engage in ESG investment to realize
a sustainable society as well as to improve its investment returns through sophisticated and diverse investment
methods.

1 Impact investment is an investment activity where an investor makes investment decisions with the intent to gain investment returns and generatesocial impact (e.g., structural change in society).
2 Dai-ichi Life to Impact Invest in Venture Fund managed by Energy & Environment Investment, Inc. —Japan's Only Independent Venture Capital
Focused on the Energy and Resource Related Sectors— https://www.dai-ichi-life.co.jp/english/news_release/2018/pdf/index_015.pdf

1Shuichiro Kawamura, President of Energy & Environment Investment, Inc., provided the following comments:
Amid the accelerating trend toward decarbonization, innovation and business creation are
essential to achieving the goal of a carbon-free society. As such, more and more startups are
emerging to take on these challenges. Having designated the three investment fields ofEnergy Transition, Mobility & Transportation, and Smart Society, the Fund will invest instartups with innovative business models or technologies that will contribute to the realizationof a sustainable society with a focus on decarbonization. Looking to 2030, we believe thatsocial issues such as interim decarbonization targets and SDGs targets will become moreacute as time goes on, therefore the Fund aims to help resolve these social issues while
maximizing investment returns.

[Company Profile]
Name of the FundEEI Fund 5 Innovation and Impact Investment

Manager

Energy & Environment Investment, Inc.

Head Office

5-11-1 Higashi-Gotanda, Shinagawa-ku, Tokyo, Japan

Representative

President Shuichiro Kawamura

EstablishedMarch 2006

Business Description

Japan's only independent venture capital focusing on the energy and resource related sectors

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

Release Date

Dai-ichi Life to Impact Invest in M odulus Discovery, Inc.
- Contributing to Realizing Accessible Healthcare for All by Cutting Development
Timelines and Costs of Pharmaceuticals Impact Investment in M etcela Inc.
- Contributing to Extending Healthy Life Expectancy of Patients with Heart Failure
through the Development and Provision of a New Treatment Impact Investment in Sharing Energy Co., Ltd.
- Contributing to CO 2 emission reduction through distributed renewable energy
power generation for residential solar power Impact Investment in GITAI Japan- Contributing to Economic Growth through Promotion of Space Development byM eans of R&D for Space Worker Robots Impact Investment in Noile-Immune Biotech, Inc.
- Extending Healthy Life Expectancy through Development and Provision of NextGeneration Cancer Immunotherapy 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 Impact Investment in RIVERFIELD Inc.
- Contributing to Improving Patients' Quality of Life by Lessening Burden on M indand Body Through Usage of Surgery Support Robots Impact Investment in PaM eLa Co., Ltd.
- Contributing to Improving Patients' Quality of Life through Development ofM edical Device That "Visualizes" Pain Using Brain Waves -2

M ay 13, 2020

Jan. 4, 2021

Feb. 15, 2021

M ar. 1, 2021

M ar. 22, 2021

Jul. 8, 2021

Jul. 30, 2021

Sep. 29, 2021

URL
https://www.dai-ichilife.co.jp/english/news_release/2020/pd
f/index_003.pdf
https://www.dai-ichilife.co.jp/english/news_release/2020/pd
f/index_017.pdf
https://www.dai-ichilife.co.jp/english/news_release/2020/pd
f/index_021.pdfhttps://www.dai-ichilife.co.jp/english/news_release/2020/pd
f/index_024.pdf
https://www.dai-ichilife.co.jp/english/news_release/2020/pd
f/index_028.pdf
https://www.dai-ichilife.co.jp/english/news_release/2021/pd
f/index_003.pdf
https://www.dai-ichilife.co.jp/english/news_release/2021/pd
f/index_005.pdf
https://www.dai-ichilife.co.jp/english/news_release/2021/pd
f/index_008.pdf

Impact Investment in WASSHA Inc.
- Contributing to Sustainable Development through Offering an Electric PowerService to Off-Grid Communities in Africa Impact Investment in READYFOR INC.
- Achieving a Society that Overflows with Heartfelt Support through Vitalization ofthe Donation and Subsidy M arket -June. 10, 2022

Jul. 13, 2022

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

Impact Investment in JEPLAN, INC.
- Contributing to a Sustainable Society through PET Chemical Recycling
Technologies -Aug. 24, 20223

https://www.dai-ichilife.co.jp/english/news_release/2022/pd
f/index_004.pdf
https://www.dai-ichilife.co.jp/english/news_release/2022/pdf/index_005.pdf
https://www.dai-ichilife.co.jp/english/news_release/2022/pd
f/index_006.pdf
https://www.dai-ichilife.co.jp/english/news_release/2022/pd
f/index_007.pdf