January 31, 2024

Launching of “DL Sustainability Finance Frameworks”
to Provide Financial Support for Corporate Sustainability Initiatives- Replacing 100%1 of bilateral corporate loan flows with sustainable ones in the medium term The Dai-ichi Life Insurance Company, Limited (the “Company”; President and Representative Director: Toshiaki Sumino)is pleased to announce that it has launched the “DL Sustainability Finance Frameworks” with the purpose of providing
financial support for corporate sustainability initiatives. The frameworks cover six products (see the attachment)—including
the first transition loan framework in the Japanese life insurance industry2. Each of frameworks has been formulated in linewith the relevant international principles and guidelines, and third-party opinions have been obtained from external
professional organizations.
Through its asset management activities, the Company aims both to secure investment returns and to help resolve societal
issues. To this end, it promotes responsible investment centered on the two key pillars of stewardship activities and ESG
investments and loans. Indeed, the Company seeks to contribute to the realization of a sustainable society by providing support
for corporate sustainability initiatives.
Because bilateral corporate loans are direct interactions with borrower companies, the Company supports borrower
company through providing finance, advice on funds, engagement, and other corporate activities. Therefore, the Company
will manage these assets with a further focus on sustainability than before.
The Company has previously provided bilateral corporate loans that are based on sustainability frameworks drawn up by
its borrowers, or that contribute to the resolution of their ESG issues. In the medium term, the Company intends to additionallyutilize its DL Sustainability Finance Frameworks to replace that 100% of its bilateral corporate loan flows are sustainabilityrelated ones. To encourage corporate sustainability initiatives, the Company intends to strengthen its internal systems,
collaborate more closely with external parties, and reinforce its consulting and engagement activities; at the same time, it will
monitor the progress of the sustainability initiatives of its borrowers.
<Roadmap for transitioning to 100% sustainability-related bilateral corporate loans>* “Sustainability-related loans” refer to loans that are based on the Company’s frameworks or borrowers’ frameworks, or that are judged by the Company to be ESG loans.
** This target relates to bilateral corporate loans only; it excludes loans and subordinated loans that are provided to recipients of financial support, or that are based on specialframeworks.
1
2Excludes loans and subordinated loans that are provided to recipients of financial support or that are based on special frameworks.
According to in-house research1Attachment
Overview of DL Sustainability Finance Frameworks*Third-party feedback can be viewed on the websites of the various assessment organizations
Third-party Assessment
ProductOverview and Aims, and Main Standards and Guidelines
Organization
 The loans provide support for corporate initiatives for steady greenhouse gas reduction that alignwith long-term strategies for the realization of a decarbonized society.

DNV BUSINESSASSURANCE JAPAN K.K.

 Assessments are carried out on borrowers’ transition strategies and the alignment of theirprojects with the strategies.
DL Transition Loans

Main standards and guidelines■ Climate Transition Finance Handbook (ICMA3)■ Basic Guidelines on Climate Transition Finance (FSA, Ministry of Economy, Trade andIndustry, Ministry of the Environment, etc.)■Financial Institution Net-zero Transition Plans（GFANZ4） The loans provide financing for projects that are recognized as leading to clear environmental

Japan Credit Rating Agency,Ltd.

improvements.
 Assessments are carried out on the validity of projects, use of funds, and environmental
DL Green Loans

improvements.
Main standards and guidelines■ Green Loan Principles (LMA and others5)■ Green Loan and Sustainability-Linked Loan Guidelines (Ministry of the Environment) The loans provide financing for projects that are recognized as leading to improvements on

Japan Credit Rating Agency,Ltd.

societal issues.
 Assessments are carried out on the validity of projects, use of funds, and societal contributions.
DL Social Loans
Main standards and guidelines■ Social Loan Principles (LMA and others)■ Social Bond Guidelines (FSA) The loans provide financing for projects that meet the conditions for both green loans and socialLtd.

loans.
DLSustainability

Loans

Japan Credit Rating Agency, Assessments are carried out on the validity of projects, use of funds, environmental
improvements, and societal contributions.
Main standards and guidelines■ Sustainability Bond Guidelines (ICMA)“ICMA” is an acronym of “International Capital Market Association.”“GFANZ” is an acronym of “Glasgow Financial Alliance for Net Zero.”5“LMA” is an acronym of “Loan Market Association.”342

 The loans provide borrowers with incentives for setting and achieving sustainability
performance targets (SPTs) that align with their management strategies. Use of funds is not

RatingandInvestment

Information, Inc.

limited to specific projects.
DLSustainability

 Assessments are carried out on the validity and ambitiousness of SPTs and KPIs.

Linked Loans
Main standards and guidelines■ Sustainability Linked Loan Principles (LMA and others)■ Green Loan and Sustainability-Linked Loan Guidelines (Ministry of the Environment) The loans seek to create a positive impact on the environment, society, and the economy, withthe aim of creating a sustainable society and economy—which is also what the SDGs aim toRatingandInvestment

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achieve. Use of funds is not limited to specific projects.
 Assessments are carried out on the validity and ambitiousness of KPIs. Where necessary, thirdDL Positive Impact

party feedback is also sought on the rationality of the Company’s assessments of individual

Financeprojects.

Main standards and guidelines■Principles for Positive Impact Finance（UNEP FI6）

* Loan agreements based on the DL Sustainability Finance Frameworks require the Company’s credit approval. After financing has been provided,
borrowers are required to provide Company-prescribed reports on the management of the procured loans (for projects with SPTs and/or KPIs, theirstatus of achievement).

6“UNEP FI” is an acronym of “United Nations Environment Programme Finance Initiative.”3