Dai ichi Life : Notice Regarding the Repurchase of the Company’s Shares

[Unofficial Translation]

August 12, 2020

Seiji Inagaki

Representative Director, President

Dai-ichi Life Holdings, Inc.

Code: 8750 (TSE First section)

Notice Regarding the Repurchase of the Company's Shares

(Under the Provision of its Articles of Incorporation

pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)

Dai-ichi Life Holdings, Inc. (the "Company"; President: Seiji Inagaki) hereby announces that its board of directors has resolved at its meeting held on August 12, 2020 to repurchase the Company's shares under the provision of Article 156 of the Companies Act of Japan, as applied pursuant to Article 165, Paragraph 3 of the same, as follows.

1. Reason for the Repurchase of the Company's shares

To enhance shareholder return through the implementation of a flexible capital policy and the improvement of capital efficiency.

2. Details of the Repurchase

1. Class of shares to be repurchased:
2. Aggregate number of shares to be repurchased:
3. Aggregate price of shares to be repurchased:
4. Period of repurchase of shares:
5. Method of repurchase of shares:

Shares of common stock

Up to 32,000,000 shares (2.82% of the total issued and outstanding shares excluding treasury stock) Up to 30 billion yen

From August 13, 2020 to March 31, 2021 Open-market repurchase by the trust method

(Reference)

Status of treasury stock held by the Company as of July 31, 2020

(1) Total number of issued and outstanding shares: 1,133,548,075 shares (excluding treasury stock)

(2) Number of treasury stock:65,207,725 shares

*The above number of treasury stock does not include shares owned by the Stock Granting Trust of the Company (J-ESOP), which owned 4,024,200 shares as of June 30, 2020.

1

Investor Contact: Investor Relations Group Corporate Planning Unit Dai-ichi Life Holdings, Inc. [phone]

This press release may contain statements that are "forward-looking statements" regarding our intent, belief or current expectations of management with respect to our future results of operations and financial condition. Any such forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, consumer sentiment, political events, level and volatility of interest rates, currency exchange rates, security valuations and competitive conditions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ.

2