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November 2, 2023
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)

Notice of Change in the Largest Shareholder
as a Major Shareholder
TOKYO, November 2, 2023 - LIFENET INSURANCE COMPANY (TSE Growth 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) hereby announces a change in the largest
shareholder as a major shareholder as of October 27, 2023.
1. Background for the change
The Company confirmed a change of the largest shareholder as a major shareholder after thesubmission of a Report of Possession of Large Volume (Change Report) to the Kanto Local
Finance Bureau by the following shareholder on November 2, 2023.
2. Overview of the shareholders subject to the change
1) Effissimo Capital Management Pte Ltd(1) Company Name

Effissimo Capital Management Pte Ltd(2) Location

260 Orchard Road #12-06 The Heeren Singapore 238855(3) Representative

Takashi Kousaka, Director(4) Business Description

Investment advisory services2) au Financial Holdings Corporation(1) Company Name

au Financial Holdings Corporation(2) Location

1-19-1, Nihonbashi, Chuo-ku, Tokyo(3) Representative

Tomohiko Katsuki, President(4) Business Description

Bank holding company and insurance holding company

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NEWSRELEASE

3. Number of voting rights (number of shares) held by the shareholder concerned andits ratio to the voting rights held by all shareholders before and after the change
1) Effissimo Capital Management Pte Ltd

Before change(As of October 17, 2023)

After change(As of October 27, 2023)

Attribution

Number of voting rights*1(Number of shares held*2)

Ratio of votingrights held *3

Major shareholder

144,748(14,474,800)

18.03%

Largestshareholder as amajor shareholder

149,212(14,921,200)

18.59%

Attribution

Number of voting rights(Number of shares held) *4

Ratio of voting
rights held *3

Largestshareholder as amajor shareholder

147,261(14,726,100)

18.34%

Major shareholder

147,261(14,726,100)

18.34%

2) au Financial Holdings Corporation

Before change(As of September 30,2023)

After change(As of October 27, 2023)*1 The number of voting rights is based on the number of shares held which was described in the Report ofPossession of Large Volume (Change Report) submitted by the shareholder concerned as of October 23,
2023 for the shares before the change and as of November 2, 2023 for the shares after the change,respectively.
*2 As the above information is based on the Report of Possession of Large Volume (Change Report) submittedby the shareholder concerned, the number of actual shares held under the name of the shareholder
concerned cannot be confirmed by the Company. In addition, the ranking among major shareholders is notlisted in the above table because the Company cannot confirm the ranking.
*3 The ratio of voting rights held, both before and after the change, are calculated based on the total number ofvoting rights of all shareholders (802,682), which is calculated by deducting the number of shares of 11,327
without voting rights from the total number of issued shares (80,279,827 shares) as of September 30, 2023,
and rounding off to the second decimal place.
*4 Number of voting rights (Number of shares held), both before and after the change, are calculated based on
the register of shareholders as of September 30, 2023.

4. Future Prospects
There are no particular matters to be stated regarding the future outlook, as this matter isbased on the Report of Possession of Large Volume (Change Report).

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ＤＤNEWS
RELEASE

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 thegrowth of the online life insurance market.
Contact:
Tel:e-mail:Disclaimer:

Investor Relations, Corporate Planning Department+81-3-5216-7900
ir@lifenet-seimei.co.jp

This is a summarized translation of the original Japanese document, prepared and provided solelyfor readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

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