Notice Regarding Acquisition of Shares of
T&D Financial Life Insurance Company
by a Subsidiary (Making it a Subsidiary)

PayPay Corporation (hereinafter "PayPay"), a subsidiary of SoftBank Corp. (hereinafter the "Company"), hereby announces that, at a meeting of its Board of Directors held on June 4, 2026, PayPay resolved to acquire 70.2% of the shares of T&D Financial Life Insurance Company (hereinafter "T&D Financial Life") from T&D Holdings, Inc. (hereinafter "T&D Holdings") and thereby make T&D Financial Life a subsidiary of PayPay (hereinafter the "Share Acquisition"). The Share Acquisition will be conducted for cash consideration and is expected to be funded from PayPay's cash on hand. PayPay has entered into a share purchase agreement with T&D Holdings in connection with the Share Acquisition. As a result of the above, T&D Financial Life is expected to become a subsidiary, and T&D Financial Life is expected to be classified as a specified subsidiary of the Company as the amount of T&D Financial Life's capital will be equivalent to at least 10% of the Company's capital.
One Investment Management Ltd (hereinafter "OneIM"), an asset management company independent of PayPay, intends to acquire 14.9% of the shares of T&D Financial Life from T&D Holdings for cash consideration through OneIM Indigo Holdings Ltd ("OneIM Indigo"), an affiliate of OneIM. As of the date of this announcement, there is no agreement, arrangement, or understanding between PayPay and OneIM Indigo to jointly exercise voting rights or other rights as shareholders of T&D Financial Life, or to jointly acquire or transfer shares of T&D Financial Life in connection with the acquisition of shares of T&D Financial Life.
The consummation of the Share Acquisition is subject to obtaining required approvals and permits from the relevant authorities, the implementation of an IFRS transition plan at T&D Financial Life, and the satisfaction of other conditions precedent set forth in the Share Purchase Agreement between PayPay and T&D Holdings in connection with the Share Acquisition.

Cautionary note regarding forward-looking statements

This press release contains forward-looking statements, which involve risks and uncertainties. In some cases, you can identify these statements by words such as "anticipate," "believe," "contemplate," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would," or the negative of these terms, and other similar expressions that describe future business activities, performance, events or circumstances.
Forward-looking statements in this press release include, but are not limited to, statements regarding: the expected completion and timing of the share acquisition of T&D Financial Life, including the satisfaction of closing conditions and receipt of regulatory approvals; the expected benefits and synergies of the share acquisition; PayPay's ability to make T&D Financial Life its subsidiary and expand its financial services offerings into the life insurance domain; the anticipated impact of the share acquisition on PayPay's results of operations and financial condition; PayPay's business and growth strategy and market opportunity; and the anticipated terms and timing of future transactions contemplated by the shareholders' agreement, including any call or put options.
These statements involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, among others: the possibility that the share acquisition may not be completed on the anticipated timeline or at all, including due to failure to obtain necessary regulatory approvals; the possibility that the final acquisition price may differ from the estimated amount; PayPay's ability to make T&D Financial Life its subsidiary, realize anticipated synergies, and retain key personnel; impact on the existing business of PayPay and T&D Financial Life; PayPay's ability to attract and retain users and merchants and grow transaction volumes; PayPay's ability to manage growth effectively and expand PayPay's service offerings; changes in the cashless payments, digital financial services, and life insurance industries in Japan; changes in applicable insurance, financial services, or other regulations; and other risks described in PayPay's regulatory filings and periodic reports.
These forward-looking statements are based on the Company's current expectations and assumptions as of the date of this press release and are subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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