NEWS RELEASE
June 21, 2022
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)

Matters Concerning Controlling Shareholders
TOKYO, June 21, 2022 – LIFENET INSURANCE COMPANY (TSE Growth 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) hereby announces the following mattersconcerning controlling shareholders, etc. with respect to au Financial Holdings Corporation (“auFinancial Holdings”) and KDDI CORPORATION (“KDDI”), which are its other associated companies.
1. Trade names, etc. of other associated companies(As of March 31, 2022)
NameRelationshipau Financial

OtherassociatedcompanyHoldings
CorporationKDDI
CORPORATION

Ratio of voting rights (%)
DirectIndirect
Totalownership ownership

Otherassociatedcompany

18.37-

Financial instruments exchanges,etc., where issued share certificatesare listed

18.37

1st section of-

18.37

18.37

Tokyo Stock Exchange(Prime Market of Tokyo Stock
Exchange on and after April 4, 2022)

The company that is deemed to be the most influential on Lifenet is KDDI. au Financial Holdings isa wholly owned subsidiary of KDDI.
2. Relationship between Lifenet and its other associated companies
au Financial Holdings is a major shareholder in Lifenet, the largest shareholder, with holdings of
18.37% voting rights of Lifenet, as well as an “insurance holding company” as defined under
Insurance Business Act, and Lifenet’s other associated company whose one of directors servesconcurrently as an outside director at Lifenet. Lifenet and au Financial Holdings entered into a capitalalliance agreement, and three companies including KDDI concluded a business alliance agreement.
KDDI owns 100% of the shares of au Financial Holdings, and it owns 18.37% of Lifenet’s voting rightindirectly. In addition, KDDI has been selling Lifenet’s insurance products as an insurance agent forLifenet.
Adequate independence is ensured in this relationship as Lifenet implements its own businessactivities and decision-making based on independent managerial judgments without being subject toany special restrictions from au Financial Holdings and KDDI. The Director’s concurrent positions are
as shown below. In addition to this, as of June 21, 2022, one employee of Lifenet is seconded toKDDI as its employee.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE(As of June 21, 2022)
Position

Name

DirectorTakeshi(Outside)

Saito

Position at otherassociated company
Managing Director and Chief
Financial Officer, au Financial
Holdings Corporation

Reasons for appointment
Due to a wealth of knowledge about
consumer business and business
management at KDDI CORPORATION.

3. Matters relating to transactions with controlling shareholders, etc.
There are no important matters to be reported in fiscal 2021.

About LIFENET (URL： https://ir.lifenet-seimei.co.jp/en/)
Remembering the original purpose of life insurance - mutual support - LIFENET INSURANCECOMPANY was founded with the goal of offering simple, convenient and competitively priced
products and services based on the highest levels of business integrity. We sell these products andservices directly to customers over the Internet. We aim to be the leading company driving the growthof the online life insurance market.
Contact:
Investor Relations, Corporate Planning DepartmentTel:+81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation of the original Japanese document, prepared and provided solely forreaders' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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