August 27, 2024

Name of Listed Company:

MS&AD Insurance Group Holdings, Inc.

Name of Representative:

Shinichiro Funabiki, President & CEO(Securities Code: 8725, Tokyo Stock Exchange and Nagoya Stock Exchange)

Contact:

Corporate Communications and Investor Relations Dept.
https://www.ms-ad-hd.com/en/ir/contact.html

Notice Regarding Result of Subscription to Tender Offer for Own
Shares by Toyota Motor Corporation and Recognition of Gain on
Sales of Investment Securities
As described in the press release titled “Notice Regarding Tender Offer for Own Shares and Subscriptionto Tender Offer for Own Shares by Toyota Motor Corporation and Expected Recognition of Gain on Salesof Investment Securities” announced on July 23, 2024, MS&AD Insurance Group Holdings, Inc. (the“Company”) determined at a meeting of its Board of Directors held on the same date to tender part of theshares of common stock of Toyota Motor Corporation (“Toyota Motor”) held by Mitsui SumitomoInsurance Company, Limited (“MSI”) and Aioi Nissay Dowa Insurance Co., Ltd. (“ADI”), the Company’ssubsidiaries, in the tender offer conducted by Toyota Motor from July 24, 2024 (the “Tender Offer”). As
the period of the Tender Offer expired on August 26, 2024, the Company hereby announces that the numberof shares to be sold by MSI and ADI has been determined, as described below.

1. Result of Subscription to Tender Offer
As a result of the Tender Offer, 79,900,000 shares out of 94,690,635 shares of common stock ofToyota Motor tendered by MSI and 4,352,800 shares out of 5,158,520 shares of common stock of Toyota
Motor tendered by ADI will be purchased by Toyota Motor.

2. Status of Shares Held by MSI and ADI Before and After Subscription to the Tender Offer(1) Number of shares held before the Tender Offer
299,547,255 shares (Ownership Ratio of Toyota Motor’s Shares: 2.22%) (Note)
Breakdown:
MSI

284,071,835 shares (Ownership Ratio of Toyota Motor’s Shares: 2.11%)

ADI

15,475,420 shares (Ownership Ratio of Toyota Motor’s Shares: 0.11%)1

(2) Number of shares tendered in the Tender Offer
99,849,155 shares (Ownership Ratio of Toyota Motor’s Shares: 0.74%)
Breakdown:
MSI

94,690,635 shares (Ownership Ratio of Toyota Motor’s Shares: 0.70%)

ADI

5,158,520 shares (Ownership Ratio of Toyota Motor’s Shares: 0.04%)(3) Number of shares sold in the Tender Offer
84,252,800 shares (Ownership Ratio of Toyota Motor’s Shares: 0.63%)
Breakdown:
MSI

79,900,000 shares (Ownership Ratio of Toyota Motor’s Shares: 0.59%)

ADI

4,352,800 shares (Ownership Ratio of Toyota Motor’s Shares: 0.03%)(4) Number of shares held after the Tender Offer
215,294,455 shares (Ownership Ratio of Toyota Motor’s Shares: 1.60%)
Breakdown:
MSI

204,171,835 shares (Ownership Ratio of Toyota Motor’s Shares: 1.52%)

ADI

11,122,620 shares (Ownership Ratio of Toyota Motor’s Shares: 0.08%)(Note) “Ownership Ratio of Toyota Motor’s Shares” means the ownership ratio (rounded to the seconddecimal place) against the total number of issued shares of Toyota Motor’s common stock as ofJune 30, 2024 (15,794,987,460 shares) less the number of own shares held by Toyota Motor as ofJune 30, 2024 (2,325,417,265 shares), both as stated in the “Status Report on Purchase of Own
Shares” submitted by Toyota Motor on July 12, 2024 (13,469,570,195 shares).

3. Schedule of the Tender Offer(i) Period of Tender Offer

From Wednesday, July 24, 2024 to Monday, August 26, 2024
(23 business days)(ii) Commencement date ofWednesday, September 18, 2024

settlement

4. Sale Price and Number of Shares Sold
(1) Sale price
2,781 yen per share(2) Number of shares sold84,252,800 shares
Breakdown:

2

MSI

79,900,000 shares

ADI

4,352,800 shares(3) Total value of shares sold234,307,036,800 yen
Breakdown:
MSI

222,201,900,000 yen

ADI12,105,136,800 yen

5. Impact on Business Performance

As a result of the sale of shares through the Tender Offer, the Company expects to record a gainon sales of investment securities of approximately 207 billion yen (before tax) in its consolidated
financial results for the fiscal year ending March 31, 2025. This amount has decreased compared tothe estimated amount of gain on sales of investment securities (after tax) described in the press
release titled “Notice Regarding Tender Offer for Own Shares and Subscription to Tender Offer forOwn Shares by Toyota Motor Corporation and Expected Recognition of Gain on Sales ofInvestment Securities” announced on July 23, 2024, after being revised to a pre-tax basis. Thisdecrease is due to the fact that the total number of shares tendered in the Tender Offer exceeded themaximum number of shares to be purchased, and the Toyota Motor would purchase shares by thepro rata allocation method. The Company is currently not planning to revise the earnings forecast
since the gain was included in the earnings forecast of the Company at the beginning of the year.
End3