News Release (July 22, 2024)
Toyo Seikan Group Invests in Seadling, a Singapore Startup Focused on
Sustainable Seaweed Farming and Seaweed-Based Functional
Ingredients
Toyo Seikan Group Holdings, Ltd. (Tokyo 5901; President: Ichio Otsuka) has invested in Seadling Pte.
Ltd. (Head office: Singapore; Founder/Managing Director: Simon Davis), a startup that is committed tosustainable seaweed farming and the development of seaweed-based functional ingredients. This
investment is part of Toyo Seikan Group’s “OPEN UP! PROJECT,” which aims to drive innovation andcreate a richer society by addressing various challenges, and is the 8th investment under the project.

The state of seaweed farming

Seaweed-based functional ingredientsdeveloped by Seadling[About Seadling]
Established in 2018, Seadling uses unique hatchery techniques and fermentation processes andcollaborates closely with local communities to develop high-quality functional seaweed ingredients thatcan be used in pet food, biostimulants*, and other products. By promoting sustainable seaweedfarming and expanding its applications in Southeast Asia, Seadling aims to balance environmental
conservation with the development of local communities.
* Biostimulants: Substances, microorganisms, or materials that contain them that are used on plants orsoil to improve the plants’ physiological conditions.

[Current Initiative]
Seadling is raising a total of $2 million in a seed investment round to expand its manufacturing andfarming capabilities, hire key personnel, and enhance its community impact programs. As acomprehensive packaging manufacturer, Toyo Seikan Group has supported people’s lives and supply
chains through its packaging. With this investment, the group aims, alongside Seadling and other cocreation partners, to contribute to the development of the seaweed supply chain and to its expandeduse, ultimately supporting the creation of a sustainable marine environment in Asia.

[Toyo Seikan Group’s Open Innovation Project “OPEN UP! PROJECT”]
Toyo Seikan Group has always taken societal challenges seriously, consistently producing container
innovations, such as the first automated cannery in Japan, paper cups for ice cream, and the world’s
first retort pouch. As society shifts from an era of mass consumption to an era of individuality, we havecreated the “OPEN UP! PROJECT” to address specific needs and individual challenges, aiming tocreate a richer society through innovation. Since 2019, leveraging technology and know-how
accumulated over the past 100 years, we have been committed to solving social issues and creatinga sustainable future through this open innovation project. Together with Seadling, we will continue totackle societal challenges.

About Toyo Seikan Group Holdings, Ltd.
Toyo Seikan Group Holdings, Ltd. is a world-class comprehensive packaging manufacturer thatdelivers a variety of packaging containers using materials such as metal, plastic, paper, and glass. In
our Long-Term Management Vision 2050, “The Future, Wrapped for All,” we set a goal to go beyond
our traditional field of packaging, aiming to become a corporate group that creates new value thatchanges society. Founded in 1917, Toyo Seikan Group Holdings, Ltd. conducts business on a global
scale, with 44 group companies in Japan and 47 overseas, and currently employs a multinational
workforce of 20,000 people. For more information, please visit https://www.tskg-hd.com/en.
For inquiries about this press release, please contact
Nakanori / Kakimoto
Corporate Communication Group
Sustainability Department
Toyo Seikan Group Holdings, Ltd.
(Email) tskg_contact@tskg-hd.com