Announcement of Conclusion of Basic Agreement on Management Integration by Absorption-Type Merger between SBI Global Asset Management Co., Ltd. and SBI Insurance Group Co., Ltd.

Key Points of This Merger

SBI Global Asset Management and SBI Insurance Group Co., Ltd. have signed a basic agreement to implement an absorption-type merger for the purpose of management integration. The surviving company will be SBI Global Asset Management and the disappearing company will be SBI Insurance Group Co., Ltd. The merger ratio is set at 3.53 shares of SBI Global Asset Management for 1 share of SBI Insurance Group Co., Ltd. The parties plan to conclude a final agreement, subject to approval at an extraordinary shareholders’ meeting and regulatory approvals. It is assumed that listings on the Prime and Growth markets will be maintained.

Outlook and Impact on Shareholders

This transaction aims to create a new business structure that integrates asset management and insurance operations, seeking improvements in product design driven by asset management, advanced ALM, and operational efficiencies and transparency through integration of AI and system platforms. Allocation details and the schedule may change depending on conditions at the time of the final agreement and regulatory approvals; the dates for the final agreement and the extraordinary shareholders’ meeting were undecided as of the end of December 2026.