September 21, 2023

Support for Exeo Group’s ICT Business Expansion in Southeast Asia, etc.
through LP Investment
The Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services (hereinafter,"JICT") (headquartered in: Chiyoda-ku, Tokyo; President & CEO: Amane Oshima) has decided to invest as alimited partnership (LP) to EXEO Innovation Fund (hereinafter, “the Fund”), an overseas subsidiary of ExeoGroup, Inc. (hereinafter, " Exeo Group") (headquartered in Shibuya-ku, Tokyo; President: TetsuyaFunabashi).
EIF General Partner Pte. Ltd. has decided to participate as general partner (hereinafter ”GP”) andDeclout Ventures Pte. Ltd., a Singapore subsidiary of Exeo Group, has decided to participate as the largest
limited partner. On September 12, 2023, the Minister for Internal Affairs and Communications approved
JICT’s financial support to the Fund of up to approximately 2.2 billion yen.
With this LP investment from JICT, the Fund will invest in startups to drive expansion in new ICT
engineering fields, mainly in Southeast Asia.
JICT expects that the Fund will contribute to the expansion of Exeo Group’s overseas business, throughfuture collaboration with the startups. Also, as the Fund acquires leading-edge technology, knowledge
and expertise, it will reap broad-based returns, strengthening the telecommunication engineering field
generally in Japan and elsewhere. By extension, the Fund will encourage energizing SMEs and regional
economies through Exeo Group’s networks in every prefecture in Japan, supporting the creation of growthbusinesses and solutions to social issues.
Similarly, Exeo Group looks forward to acquiring leading-edge technology, knowledge and expertise fromoverseas, sharpening them through open innovation and combining them with its engineering capabilities,

thereby creating businesses in new fields. Exeo Group will accelerate the DX promotion strategy in its
medium-term business plan, developing solutions not only in ICT infrastructure but also across the fullrange of social infrastructure. As a result, Exeo Group will contribute to solutions to social issues in Japanand globally.
The project marks JICT’s fourth LP investment since the expansion of its support scope (based on arevision of its support standards effective as of February 14, 2022). By participating in the Fund, JICT
bolsters credibility in the Fund, creates opportunities for investment in high-quality projects and supports
partnerships with investee companies from a neutral perspective, thereby contributing to enhancement of
the value of the Fund. Also, as a public-private fund, JICT aims to contribute to the overseas developmentof future Japanese businesses, by sharing the information and knowledge obtained through investment inthe Fund to Japanese enterprises.

Outline of JICT’s financing support
1. Business overview: Support for expansion of ICT business, etc. in Southeast Asia, etc. by means of LP investment
2. Countries: Southeast Asia, etc.
3. Approved amount of support to be supplied by JICT: Approx. 2.2 billion yen maximum
4. Co-investor in Japan: Declout Ventures
5. Estimated timing of execution: October 2023

Business Model and Investment Scheme
JICT (LP)

Exeo Group
100%

EXEO GLOBAL100%

EIF General Partner(GP)100%

Declout Ventures(Largest LP)

Investment by GP
Operation of CVC

Investment by LP
SGD 30m

Investment by LP
SGD 20m

EXEO Innovation Fund
Investment

ICT startup enterprises, mainly in Southeast Asia
Note: This investment scheme is partially simplified.

(Contact)
Public Relations Unit, Corporate Communications Office, Exeo Group, Inc.
TEL：03-5778-1075 E-mail：contact@en2.exeo.co.jp
Management Strategy Division, Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services
Tel: 03-5501-0092