September 8th, 2021
Spiber Inc.
Spiber Inc. raises JPY 34.4 billion in funding tostrengthen production and sales network
Utilizing investor Carlyle’s network to accelerate global commercialization

Yamagata, Japan ― Spiber (Director and Representative Executive Officer: KazuhideSekiyama), a biomanufacturing startup announced that it has approved a capitalincrease of JPY 24.4 billion yen through an equity investment round which includes
leading global investors such as Carlyle (Japan representative: Kazuhiro Yamada), as well
as from existing shareholders such as Cool Japan Fund Inc. (President and CEO: Kenichi
Kawasaki).
Spiber has simultaneously approved an additional JPY 10 billion capital raise through anextension of the value securitization structure executed as of December 28th, 2021 andarranged by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., bringing the new capital
total to JPY 34.4 billion.
As a new investor, Carlyle has made a significant investment into Spiber, representing
Carlyle’s first-ever non-buyout growth investment in Japan. Spiber will be able to fully
leverage Carlyle’s global industry experience, sustainability expertise, and networkwith luxury brands as well as the textile and material industries to accelerate its
further growth. Carlyle’s previous investments include sustainability-oriented
companies such as Jeanologia and Beautycounter, as well as world-leading apparelbrands like Moncler and Golden Goose.
Spiber will additionally receive a significant follow-on investment from existing Japanbased shareholder Cool Japan Fund, who has been strongly supporting Spiber since
2018. Moreover, global investors such as Fidelity International and Baillie Gifford, as wellas domestic Spiber shareholders Tokyo Century, Yamagata Bank and Satake ChemicalEquipment Mfg., will join this round. Cool Japan Fund and Carlyle will each send one
director to serve on Spiber’s board and thus become the company’s domestic and global
cornerstone investors. Leveraging the broad networks and deep expertise of theseshareholders will allow Spiber to accelerate its global expansion projects, as well as
further develop communication with domestic and global investors in preparation for
an IPO within the next several years.
Mitsubishi UFJ Morgan Stanley and Anderson Mori Tomotsune acted as the financial andlegal advisors respectively for this equity financing.
Spiber’s proprietary Brewed Protein™ material is a bio-based, biodegradable, andanimal-free synthetic protein platform. It can be applied to substitutes for cashmere,wool, fur, leather, silk, and other animal and/or petroleum-based materials, and offers
important environmental benefits such as significantly reduced natural resource
consumption and the potential for lower GHG-emissions compared to cashmere
production (based on Spiber’s preliminary LCA). With its unique, vertically-integrated

R&D approach that delivers superior results in productivity and material features, Spiber
is well-positioned to benefit from an increased ESG focus across industries, and to takethe lead in the global bio-engineered sustainable material market. Spiber is also poised
to begin implementing mass production through its plant in Thailand in 2021, and in
the US as early as 2023.
Proteins are a core element of all life and ecosystems found on Earth. By building up
the infrastructure needed to master production of these materials on an industrial
level, Spiber is striving to solve global-scale issues and help bring about a moresustainable society.

About SpiberEstablished in September 2007, Spiber Inc. is a Japanese biotechnology startup utilizing
cutting-edge synthetic biology, polymer, and material science for the development of
its novel Brewed Protein™ materials. Produced through microbial fermentation andutilizing agricultural feedstocks as primary raw materials, Brewed Protein™ polymers
are well-positioned to make significant contributions to animal- and plastic-free
initiatives in a range of fields such as the apparel and automotive industries. Leveraging
its R&D expertise, Spiber pursues its mission of positively contributing to sustainablehuman well-being. Operation of Spiber’s first mass production plant in Rayong Province,Thailand, is slated to commence within 2021. The company is also constructing a second
mass production facility with partner ADM in Iowa, USA, which is scheduled to begin
operating in 2023 at the earliest.
Further information is available at https://www.spiber.inc/en/
Post-money valuation after the completion of this round: approximately JPY 133 billion.
Offering price per share: JPY 4,500. Number of outstanding shares (excluding treasury stock) after this capital increase:
29,565,875 shares.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that
deploys private capital across three business segments: Global Private Equity, Global
Credit and Investment Solutions. With $276 billion of assets under management as ofJune 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its
investors, portfolio companies and the communities in which we live and invest. Carlyle
employs nearly 1,800 people in 27 offices across five continents.
Further information is available at https://www.carlyle.com/
About Cool Japan Fund Inc.
Cool Japan Fund Inc. was founded in November 2013 as a public-private fund with theaim of supporting and promoting the development of demand overseas for excellent
Japanese products and services. Cool Japan Fund aims to commercialize the “Cool Japan”
and increase overseas demand by providing risk capital for businesses across a varietyof areas, including media & content, food & services, fashion & lifestyle and inbound.
Further information is available at https://www.cj-fund.co.jp/en/

For media inquiries:
PR Section, Ayana NAKAJIMA+81-80-2842-3495
contact@spiber.jp