February 9, 2021

Investment in Education Bond Issued by the Asian Development Bank ("ADB")- Supporting Greater Opportunities for High-Quality Education in Anticipation of Post-COVID-19
Needs in the Asia-Pacific Region The Dai-ichi Life Insurance Company, Limited (the "Company", President and Representative Director, Seiji Inagaki)
is pleased to announce that it has decided to purchase the entire amount of an Education Bond (a total of approx. JPY
6 billion) issued by the Asian Development Bank ("ADB"). This will be an investment in the Education Bond, which
has a focus on education, and which ADB will issue for the first time.
As a universal owner that manages assets of JPY 36 trillion sourced from insurance premiums of approximately 10
million customers throughout Japan, the Company has been promoting ESG (environment, social, and corporate
governance) investments with a focus on quality of life, regional revitalization, and climate change, and has actively
been investing in bonds focusing on SDGs (sustainable development goals) such as those issued by multilateraldevelopment banks and others as indicated below.

In January of 2021, ADB announced its intention to support enhanced opportunities for education and reforms inanticipation of a "new normal" following COVID-19. Given that 1.7 billion students are estimated to have been affectedby school closures worldwide due to the spread of COVID-19, ADB has announced that in the future, it will strengthen
its support for increasing opportunities for high-quality education following COVID-19 through efforts such as greater1use of distance and online learning and use of digital technologies for scaling equitable learning, training and teachingwith partnerships for expanding access to affordable and reliable internet connectivity. These efforts are expected tomitigate potential drop-outs and learning losses, help to prepare students and young adults for an increasingly digitalworld, and support countries in digital transformation.
The proceeds raised from this bond will be used toward ADB's initiatives related to education and technical andvocational training, including the aforementioned efforts. Through its investment in this bond, the Company will
financially support ADB's initiatives. ADB has ongoing investments of over US$ 6 billion in education and a planned
pipeline of about US$ 6 billion during 2021-2023.
As a responsible institutional investor that contributes to realizing asustainable society, the Company is also actively engaged in ESG investment
for improving its investment return as well as solving social issues throughsophisticated and diverse investment methods.
<<Reference>> Examples of Investment in SDG-Focused Bonds Issued by

Photo credit: Asian Development Bank

Multilateral Development BanksIssuer
European Bank for

Name of Bond

Release dateURL

Microfinance BondDec 7, 2015

https://www.dai-ichilife.co.jp/english/news_release/2015/pdf/index_028.pdf

Health Bond

Mar 13, 2018https://www.dai-ichilife.co.jp/english/news_release/2017/pdf/inde
x_020.pdf

Environmental Sustainability BondJun 26, 2019https://www.dai-ichilife.co.jp/english/news_release/2019/pdf/inde
x_005.pdf

Inclusive Business BondDec 15, 2014

https://www.dai-ichilife.co.jp/english/news_release/2014/pdf/inde
x_028.pdf

Green BondJun 26, 2019https://www.dai-ichilife.co.jp/english/news_release/2019/pdf/inde
x_006.pdf

Sustainable Development Bond

Jul 30, 2019https://www.dai-ichilife.co.jp/english/news_release/2019/pdf/inde
x_010.pdf

Sustainable Development Bond

Nov 28, 2019https://www.dai-ichilife.co.jp/english/news_release/2019/pdf/inde
x_019.pdf

Sustainable Development Bond

May 1, 2020

https://www.dai-ichilife.co.jp/english/news_release/2020/pdf/inde
x_002.pdf

EYE Bond

Jul 13, 2015

https://www.dai-ichilife.co.jp/english/news_release/2015/pdf/inde
x_015.pdf

Reconstruction andDevelopment (EBRD)International FinanceCorporation (IFC)
International Bank for
Reconstruction andDevelopment (IBRD)

Inter-American
Development Bank(IADB)

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African Development

Feed Africa Bond

Nov 1, 2016

https://www.dai-ichilife.co.jp/english/news_release/2016/pdf/inde
x_022.pdf

Light Up and Power Africa BondSep 28, 2017https://www.dai-ichilife.co.jp/english/news_release/2017/pdf/inde
x_009.pdf

Health Bond

Mar 29, 2017https://www.dai-ichilife.co.jp/english/news_release/2016/pdf/inde
x_028.pdf

Gender Bond

Nov 27, 2017https://www.dai-ichilife.co.jp/english/news_release/2017/pdf/inde
x_015.pdf

Health BondApr 22, 2020

https://www.dai-ichilife.co.jp/english/news_release/2020/pdf/index_001.pdf

Health BondFeb 1 , 2021

https://www.dai-ichilife.co.jp/english/news_release/2020/pdf/inde
x_018.pdf

Vaccine Bond

Jul 18, 2019https://www.dai-ichilife.co.jp/english/news_release/2019/pdf/inde
x_009.pdf

Vaccine BondJun 29, 2020

https://www.dai-ichilife.co.jp/english/news_release/2020/pdf/inde
x_007.pdf

Bank (AfDB)Asian Development
Bank (ADB)

International Finance
Facility forImmunisation (IFFIm)[Outline of the Bond]
IssuerAsian Development Bank (S&P Rating: AAA, Moody's Rating: Aaa)

Issuance Amount

AUD 75 million (Approx. JPY 6 billion)

Maturities

10 years

About ADBWith its headquarters in Manila in the Philippines, ADB is committed to achieving a prosperous, inclusive, resilient,and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, itis owned by 68 members—49 from the region.

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