Press Conference Materials for the Fiscal Year Ended March 31, 2026

May 15, 2026

Taiyo Life Insurance Company

1. Sales Results (Millions of yen)

   	Fiscal Year Ended/as of March 31, 2025		Six Months Ended/as of September 30, 2025		Fiscal Year Ended/as of March 31, 2026
   	Amount	% Change	Amount	% Change	Amount	% Change
   Annualized premiums of new policies	47,263	45.7%	25,898	6.7%	44,463	(5.9%)
   Medical benefits, living benefits, and others	20,232	4.1%	10,533	3.9%	20,481	1.2%
   Annualized premiums of policies in force	566,908	0.5%	570,062	0.4%	546,965	(3.5%)
   Medical benefits, living benefits, and others	141,685	3.5%	144,673	3.8%	146,612	3.5%
   Income from insurance premiums	805,591	14.6%	549,317	28.6%	983,087	22.0%
   Individual insurance and annuities	626,776	73.4%	348,475	5.9%	557,146	(11.1%)
   Group insurance and annuities	97,370	(61.9%)	52,427	(9.1%)	91,105	(6.4%)
   Policy amount in force	10,399,315	(9.3%)	10,046,665	(7.9%)	9,511,933	(8.5%)
   Annualized premiums of surrender and lapse amount	25,360	1.6%	13,328	3.8%	28,171	11.1%

   Notes:

   1. "% Change" is presented in comparison with the same period of the previous fiscal year.

   2. The above figures excluding income from insurance premiums represent total amounts of individual insurance and individual annuities.

   3. Annualized premium consists of premiums of individual insurance and individual annuities. The amount of annualized premium is the annual premium amount calculated by multiplying factors according to the premium payment method to a single premium payment amount (for lump-sum payment, the amount is the total premium divided by the insured period).

   4. The amount of income from insurance premiums is on a statement of operation basis.

   5. The amount of individual insurance and annuities of income from insurance premiums represent total amounts of individual insurance and individual annuities and the amount of group insurance and annuities represent total amounts of group insurance and group annuities.

   6. Surrender and lapse related to revived policies are included in total surrender and lapse amount.

2. Assets (Millions of yen)

   	As of March 31, 2025		As of September 30, 2025		As of March 31, 2026
   	Amount	% Change	Amount	% Change	Amount	% Change
   Total assets	6,692,604	(8.4%)	6,843,564	(3.3%)	6,754,113	0.9%

   Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

3. Core Profit/Positive Spread/Investment Yield (Millions of yen)

   	Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026		Fiscal Year Ending March 31, 2027 (Forecast)
   Core profit	Amount	% Change	Amount	% Change	Amount
   	52,424	28.6%	89,533	70.8%	approx.	67,000

   Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

   (Millions of yen)

   	Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026		Fiscal Year Ending March 31, 2027(Forecast)
   Amount of Positive Spread	Amount	Change	Amount	Change	Amount
   	38,333	18,819	59,352	21,018	approx.	55,000

   Note: "Change" is presented in comparison with the same period of the previous fiscal year.

   (%)

   	Fiscal Year Ended March 31, 2025	Fiscal Year Ended March 31, 2026	Fiscal Year Ending March 31, 2027 (Forecast)
   Investment yield on core profit	1.95	2.53	approx.	2.4
   Investment yield (general account)	1.99	2.61	2.44
   Average assumed investment yield	1.24	1.36	approx.	1.3

4. Policy and Other Reserves (Millions of yen)

   	As of March 31, 2025		As of September 30, 2025		As of March 31, 2026
   	Amount	Change	Amount	Change	Amount	Change
   Policy reserve	5,082,389	(688,668)	5,171,037	(606,287)	5,128,026	45,637
   General account	5,082,194	(688,660)	5,170,822	(606,305)	5,127,804	45,609
   Separate account	194	(7)	215	17	222	27
   Reserve for price fluctuations	140,669	2,893	142,066	2,808	143,293	2,623
   Contingency reserve	69,301	825	70,395	1,565	72,951	3,650
   Contingency reserve fund	-	-	-	-	-	-
   Price fluctuation reserve fund	-	-	-	-	-	-
   Appropriated retained earnings for general purposes	-	-	-	-	-	-

   Notes:

   1. "Change" is presented in comparison with the same period of the previous fiscal year.

   2. The amount of policy reserve excludes the amount of contingency reserve.

   3. The amount of contingency reserve fund, price fluctuation reserve fund and appropriated retained earnings for general purposes are the balance after the appropriation of surplus.

5. Unrealized Gains (Losses) (Millions of yen)

   	As of March 31, 2025		As of September 30, 2025		As of March 31, 2026
   	Amount	Change	Amount	Change	Amount	Change
   Securities	(17,896)	(296,196)	(29,396)	(198,387)	(143,700)	(125,803)
   Domestic stocks	204,824	(60,679)	236,962	6,296	259,461	54,636
   Domestic bonds	(315,174)	(231,112)	(430,004)	(269,358)	(587,321)	(272,147)
   Foreign securities	75,242	7,497	134,377	60,184	152,285	77,043
   Real Estate	79,082	8,037	79,490	6,774	87,037	7,954

   Notes:

   1. "Change" is presented in comparison with the same period of the previous fiscal year.

   2. Unrealized gains (losses) of securities excludes stocks and partnerships and so forth without market prices.

   3. The fair values of domestic/foreign stocks and foreign-currency-denominated assets are determined using the fair value and exchange rate at each closing date.

   4. The figures of unrealized gains (losses) of real estate cover domestic land including leaseholds which are stated in the amounts after revaluation.

6. Investments for the Fiscal Year Ended March 31, 2026

   (Millions of yen)

   	Net Increase (Net decrease)
   Domestic stocks	(22,449)
   Domestic bonds	96,418
   Foreign stocks, etc.	87,602
   Foreign bonds	(146,939)
   Real Estate	(2,387)

   Note: Investment for the fiscal year ended March 31, 2025 are based on carrying value.

7. Level of Indices where Unrealized Gains (Losses) on Assets are Break-even as of March 31, 2026

   Domestic stocks (NIKKEI 225)	approx.	22,200 Yen
   Domestic stocks (TOPIX)	approx.	1,520 Points
   Domestic bonds	approx.	0.5%
   Foreign securities	approx.	144 Yen

   Notes:

   1. Domestic stocks are linked to NIKKEI 225 and TOPIX, and are calculated based on the stock valuation criteria.

   2. Domestic bonds are calculated based on newly issued 10-year JGB yield and calculated to first decimal place.

   3. The indices of foreign securities are calculated based on a U.S. dollar/yen rate conversion.

8. Performance Forecast (Millions of yen)

   	Fiscal Year Ending March 31, 2027
   Income from insurance premiums	approx.	800,000
   Annualized premiums of policies in force	approx.	500,000

   Note: The above earnings forecast may differ significantly from the actual result due to various factors going forward.

9. Number of Employees and Agents （Persons）

   	As of March 31, 2025		As of September 30, 2025		As of March 31, 2026
   In-house sales representatives	9,550	2.5%	9,665	2.2%	9,764	2.2%
   Back-office personnel	2,713	14.0%	2,795	0.4%	2,737	0.9%

   Note: Percentage figures stated above are presented in comparison with the same period of the previous fiscal year.

10. Provision for Reserve for Policyholder Dividends (Millions of yen)

    	Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026
    	Amount	% Change	Amount	% Change
    Individual insurance and annuities	556	(6.4%)	452	(18.6%)
    Group insurance	12,077	(1.0%)	11,600	(3.9%)
    Group annuities	1,561	160.1%	2,367	51.7%
    Total including others	14,396	5.8%	14,612	1.5%

    Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

11. OTC Sales through Banks (Number, Millions of yen)

    		Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026
    		Amount	% Change	Amount	% Change
    Variable annuities	Number of policies	-	-	-	-
    	Amount	-	-	-	-
    Fixed annuities	Number of policies	-	-	-	-
    	Amount	-	-	-	-

    (Number, Millions of yen)

    		Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026
    		Amount	% Change	Amount	% Change
    Single-premium whole life insurance	Number of policies	-	-	-	-
    	Amount	-	-	-	-
    Single-premium endowment insurance	Number of policies	-	-	-	-
    	Amount	-	-	-	-

    (Number, Millions of yen)

    		Fiscal Year Ended March 31, 2025		Fiscal Year Ended March 31, 2026
    		Amount	% Change	Amount	% Change
    Single-premium products	Number of policies	65,414	362.1%	50,873	(22.2%)
    	Amount	387,100	344.9%	301,612	(22.1%)
    Level-premium products	Number of policies	715	(88.3%)	56	(92.2%)
    	Amount	150	(90.5%)	6	(96.0%)

    Notes:

    1. "% Change" is presented in comparison with the same period of the previous fiscal year.

    2. The amount shows the amount of lump-sum payments for single premium policies and the amount equivalent to annual premium for other policies.

    3. " OTC Sales through Banks" includes credit unions, labor banks, and securities companies.

       Exhibit

(Billions of yen)

Note: Negative value in the table represents the reversal of policy reserve.