March 6, 2024

Impact Investment in Instalimb Inc.
-Providing high-quality and affordable 3D-printed prosthetic limbs
for the improvement of the people’s Quality of Life in developing countries The Dai-ichi Life Insurance Company, Limited (the "Company"; President and Representative Director: ToshiakiSumino) has invested JPY 100 million in Instalimb Inc. (“Instalimb”; Representative and CEO: Yutaka Tokushima), aJapanese start-up that develops, produces, and sells 3D-printed prosthetic limbs, as well as related equipment andmaterials, in developing countries. This impact investment 1 is part of the Company's ESG investments.
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Instalimb is a Japanese start-up that specializes in the production anddistribution of 3D-printed 2 prosthetic limbs tailored for low- andmedium-income demographics in the Philippines and India. It is thefirst company worldwide to commercially introduce 3D-printed
prosthetic legs.

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Prosthetic limbs are traditionally made by hand, a process thattypically takes two to three weeks to complete. Leveraging its
proprietary CAD software 3 and 3D printers, Instalimb has
significantly shortened the production time to less than 24 hours. Ithas also succeeded in reducing the price per limb to between JPY
50,000 and 80,000—10% of the existing price.

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Photo by courtesy of Instalimb

By leveraging AI technologies to analyze the residual leg surfaces of thousands of individuals, Instalimb is capableof customizing prosthetic sockets4 to fit the unique shapes of each user’s residual limb. This results in high-quality
prosthetic limbs with an exceptional sense of fit.

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Prosthetic limbs are not widely used in developing countries due to several factors, including limited production
volumes, high cost, and the traditional manual manufacturing process. This leads to a significant gap between
demand and supply. The widespread adoption of Instalimb products has the potential to empower individuals from
low and middle income groups—many of whom rely on manual labor for their livelihoods—to return to work evenafter losing a leg. This is expected to facilitate financial independence and improve their standard of living.

1

Impact investment is an investment activity where an investor makes investment decisions with the intent to gain investment returns and generate social
impact (e.g., structural change in society).
2

A 3D printer uses 3D data to creates three-dimensional shapes by building up multiple layers of material.

3CAD software enables drawings and designs to be created digitally.

4Sockets refer to the hollowed sections of prosthetics into which residual limbs are inserted.

1

Social Impact⚫

Applicable SDGs

Helping people in developing countries return to work andimprove their Quality of Life
Instalimb produces and sells high-quality, affordable prosthetic
limbs, thereby enabling people from low and middle income groups
to achieve financial independence and improve their standard ofliving.

The Company believes high financial returns from its investment in Instalimb. Through this investment, theCompany will also provide financial support for and continually monitor the progress of Instalimb’s initiatives, aimed
at improving the Quality of Life for people in developing countries through the provision of low-cost and high-quality
prosthetic limbs.
As a responsible institutional investor, the Company will continue to actively engage in ESG investment to realize asustainable society as well as to improve its investment returns through sophisticated and diverse investment methods.
Yutaka Tokushima, CEO and Representative Director of Instalimb Inc., provided the following comment:
Instalimb Inc. sells prosthetic limbs to individuals who traditionally lacked the financial
means to afford them. There are over 90 million such individuals worldwide, primarily indeveloping countries. Our sales initially began in the Philippines in 2019, with subsequent
expansion to India in 2022. To date, we have provided prosthetic legs to 2,700 people. In
developing countries, over 80% of individuals with prosthetic legs can secure employment.
The provision of prosthetic legs not only benefits the user but also alleviates poverty and otherchallenges while bolstering the economically active population of the country. At Instalimb,
our goal is to address this significant—yet often overlooked—social issue.

[Company Profile]
Trade Name

Instalimb Inc.

Head Office

1-16-3 Yokokawa, Sumida-ku, Tokyo

Representative

Yutaka Tokushima, CEO

EstablishedMarch, 2017

Business Description

The development, production and sales of 3D-printed prosthetic limbs, and related
equipment and materials2Dai-ichi Life's Impact Investment History (Last 3years)
Headline

Release Date

Investment in Climate Infrastructure Fund for Emerging Countries

URL
https://www.dai-ichi-- Contributing to Resolving Climate Change Challenges Through Joint Public/Private

Jul. 8, 2021

life.co.jp/english/news_releas

Support for Development of a Low Carbon Economy -e/2021/pdf/index_003.pdf

Impact Investment in PaMeLa Co., Ltd.

https://www.dai-ichi-- Contributing to Improving Patients' Quality of Life through Development of Medical

Sep. 29, 2021

life.co.jp/english/news_releas

Device That "Visualizes" Pain Using Brain Waves -e/2021/pdf/index_008.pdf

Impact Investment in WASSHA Inc.

https://www.dai-ichi-- Contributing to Sustainable Development through Offering an Electric Power Service toJun. 10, 2022

life.co.jp/english/news_releas

Off-Grid Communities in Africa -e/2022/pdf/index_004.pdf

Impact Investment in READYFOR INC.

https://www.dai-ichi-- Achieving a Society that Overflows with Heartfelt Support through Vitalization of theJul. 13, 2022

Donation and Subsidy Market -life.co.jp/english/news_releas
e/2022/pdf/index_005.pdf
https://www.dai-ichi-Impact Investment in Clean Energy Connect- Accelerating uptake of renewable energy by expanding off-site corporate PPAs -Aug. 1, 2022

life.co.jp/english/news_releas
e/2022/pdf/index_006.pdf
https://www.dai-ichi-

Impact Investment in JEPLAN, INC.
- Contributing to a Sustainable Society through PET Chemical Recycling Technologies -Aug. 24, 2022

e/2022/pdf/index_007.pdf

Impact Investment in a Venture Fund by Energy & Environment Investment, Inc.
- Supporting a Decarbonized Society via Venture Fund Focused on the Environment andlife.co.jp/english/news_releas

https://www.dai-ichiSep. 15, 2022

Energy Sectors -life.co.jp/english/news_releas
e/2022/pdf/index_008.pdf
https://www.dai-ichi-

Impact Investment in KAKEHASHI Inc.
- Contributing to Medical DX and to Establishing a Sustainable Medical System -Apr. 19, 2023

life.co.jp/english/news_releas
e/2023/pdf/index_001.pdf

Investment in Climate Infrastructure Fund for Emerging Countries

https://www.dai-ichi-- Contributing to Resolving Climate Change Challenges Through Joint Public/Private

Jul. 8, 2021

Support for Development of a Low Carbon Economy -life.co.jp/english/news_releas
e/2021/pdf/index_003.pdf
https://www.dai-ichi-

Impact Investment in PLANTX Inc.
-Contributing to environmental conservation through sustainable plant production -3

Nov. 30, 2023

life.co.jp/english/news_releas
e/2023/pdf/index_008.pdf