February 14, 2024

Investment in “1st Japan Climate Transition Bond”- Encouraging Green Transformation (GX) in Japan The Dai-ichi Life Insurance Company, Limited (the “Company”; President and Representative Director: ToshiakiSumino) is pleased to announce that it has decided to invest in the Japan Climate Transition Bond (the “Bond”), which
is issued by the Government of Japan. The Bond has been issued with the aim of contributing to the government’s goalof achieving carbon neutrality, while at the same time enhancing industrial competitiveness and economic growth.
In October 2020, the Japanese government announced plans to achieve carbon neutrality by 2050; in April 2021, it
set out an interim target of reducing GHG emissions by 46% compared to its 2013 levels by 20301. The Japanese
government believes that more than approx.150 trillion yen of public-private investments is required over the next
decade to achieve its carbon neutral goals, enhance industrial competitiveness and economic growth. In order topromote long-term investment, it has decided to issue 20 trillion yen scale of “GX Economy Transition Bonds.”
The Bond is the first to be issued under this plan. The proceeds raised by the Bond will be allocated for projects thatmeet the criteria outlined under the Climate Transition Bond Framework2, which is based on the Japanese government’s
GX Promotion Strategy. This includes Green Innovation Fund projects—such as R&D and demonstration projects
aimed at the social implementation of carbon recycling and other innovative technologies—and projects to strengthen
semiconductor supply chains to achieve GX through improved energy performance.
Through this investment, the Company believes to provide financial support for initiatives aimed at realizing carbon
neutrality and strengthening the country’s industrial competitiveness in Japan, and thereby encourage the transition ofJapanese society to a decarbonized growth economic structure. The Company also believes that the Japanese
government will set out quantifiable short-term objectives for achieving its interim 2030 reduction target, and bothclarify and disclose its reduction plans for the period 2030–20503 to improve the transparency and increase the chancesof success of the government’s goal of achieving carbon neutrality by 2050.

The Japanese government has also pledged to continue its challenge for achieve a higher interim reduction target of 50%.
The Bond is based on “Japan Climate Transition Bond Framework”, which was formulated to raise funds required for GX:
https://www.mof.go.jp/english/policy/jgbs/topics/JapanClimateTransitionBonds/climate_transition_bond_framework_eng.pdf
12Second-party opinions from Japan Credit Rating Agency, Ltd. and DNV BUSINESS ASSURANCE JAPAN K.K. were sought when
formulating the Framework.
https://www.mof.go.jp/english/policy/jgbs/topics/JapanClimateTransitionBonds/jcr_climate_transition_bond_framework_spo_eng.pdf
https://www.mof.go.jp/english/policy/jgbs/topics/JapanClimateTransitionBonds/dnv_climate_transition_bond_framework_spo_eng.pdf
These measures are recommended to the issuer on p31 of the “Second Party Opinion,” published by DNV BUSINESS ASSURANCEJAPAN K.K.
31

Overview of the 1st Japan Climate Transition BondIssuer

The Government of Japan(R&I Rating: AA+; JCR Rating: AAA; S&P Rating: A+; Moody’s Rating: A1)

Redemption period

10 years2