NEWS RELEASE
September 26, 2023
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)

Notice of Determination of Number of New Shares to be
Issued by way of Third-Party Allotment
TOKYO, September 26, 2023 – LIFENET INSURANCE COMPANY (TSE Growth 7157,
President Ryosuke Mori; URL: https://ir.lifenet-seimei.co.jp/en/; hereafter, the “Company”)
announces that, in connection with the issuance of new shares by way of third-party allotmentthat sets the lead manager as an allottee, which was resolved simultaneously with the issuanceof new shares by way of public offering, the issuance of new shares by way of third-party allotmentthat sets au Financial Holdings Corporation and Sumitomo Mitsui Card Company, Limited asallottees, the secondary offering of shares by way of purchase and underwriting by theunderwriters and the secondary offering of shares by way of overallotment, which were resolvedby the Board of Directors of the Company on August 30, 2023, it has been notified by the allotteethat it has elected to subscribe for all of the shares to be issued thereby as set forth below:(1)

Number of New Shares

657,000 shares(Number of shares scheduled to be issued:657,000 shares)(2)

Total Amount to be Paid

¥600,918,480(¥914.64 per share)(3)

Payment Date

September 27, 2023 (Wednesday)<For Reference>
1.

The issuance of new shares by way of third-party allotment was resolved by the Board ofDirectors of the Company on August 30, 2023, simultaneously with the issuance of newshares by way of public offering, the issuance of new shares by way of third-party allotmentthat sets au Financial Holdings Corporation and Sumitomo Mitsui Card Company, Limited asallottees, the secondary offering by way of purchase and underwriting by the underwritersand secondary offering by way of overallotment. For the details of the third-party allotment,
please see “Notice of Issuance of New Shares by way of Public Offering and Third-Party
Allotment and Secondary Offering of Shares” announced on August 30, 2023 and “Notice ofDetermination of Issue Price and Selling Price and Other Matters” announced on September
6, 2023.

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new shares by way of third-party allotment, and not for the purpose of soliciting investment or engaging
in any other similar activities within or outside Japan. Investors bear full responsibility for their investment decisions
and should review the prospectus, including any amendments thereto, prepared by the Company in relation to theinvestment in shares in the Company. In addition, this press release does not constitute an offer or sale of securities
in the United States. The securities may not be offered or sold in the United States absent registration or an
exemption from registration under the United States Securities Act of 1933, as amended. The securities referred toabove will not be publicly offered or sold in the United States. It is prohibited to distribute this press release in theUnited States.

Copyright© LIFENET INSURANCE COMPANY All rights reserved1NEWS RELEASE
2.

Change in the Total Number of Shares Issued as a Result of Third-Party Allotment
Total number of shares issued:

79,622,827 shares

Increase in number of shares issued as a result of the issuanceof new shares by way of third-party allotment:

657,000 shares

Total number of shares issued after the issuance of new sharesby way of third-party allotment:

80,279,827 sharesContact:
Investor Relations, Corporate Planning Department
Tel: +81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation/version of the original Japanese document, prepared and provided
solely for readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new shares by way of third-party allotment, and not for the purpose of soliciting investment or engaging
in any other similar activities within or outside Japan. Investors bear full responsibility for their investment decisions
and should review the prospectus, including any amendments thereto, prepared by the Company in relation to theinvestment in shares in the Company. In addition, this press release does not constitute an offer or sale of securities
in the United States. The securities may not be offered or sold in the United States absent registration or an
exemption from registration under the United States Securities Act of 1933, as amended. The securities referred toabove will not be publicly offered or sold in the United States. It is prohibited to distribute this press release in theUnited States.

Copyright© LIFENET INSURANCE COMPANY All rights reserved2