SBI Holdings, Inc.
SBI Pharmaceuticals Co., Ltd.

We are pleased to inform you that SBI Pharmaceuticals Co., Ltd. (Head office: Minato-ku, Tokyo; Representative Director and CEO: Yoshitaka Kitao; “SBI Pharmaceuticals”), a subsidiary of SBI Holdings, Inc., has entered into a memorandum of understanding with Bahrain Mumtalakat Holding Company B.S.C. (c) (Head office: Manama, Bahrain; Chief Executive Officer: Mahmood Hashim Al Kooheji; “Mumtalakat”), for the purposes of exploring the proposed establishment of a 5-aminolevulinic acid (“5-ALA”) (*1) business in Bahrain focused on researching, developing and producing 5-ALA pharmaceuticals products.

Mumtalakat is the investment arm of and a wholly-owned holding company of the Kingdom of Bahrain, representing a portfolio value of approximately USD 7.1 billion, whereas SBI Pharmaceuticals is in the business of researching and developing pharmaceutical products, health foods and cosmetics using 5-ALA and is seeking to distribute its products through partnerships and distribution channels inside and outside Japan (including Bahrain). SBI Pharmaceuticals is currently preparing to start a clinical study on diabetes by using

5-ALA at locations in Bahrain, including the Diabetes Department of the Bahrain Defense Force Royal Medical Service Hospital, the Arabian Gulf University Hospital and the King Hamad University Hospital.

SBI Pharmaceuticals aims to take advantage of its research and development capabilities in the pharmaceuticals field and will cooperate closely with Mumtalakat and the local network of Mumtalakat to work on researching, developing and producing 5-ALA pharmaceutical products in Bahrain. With this objective in mind, SBI Pharmaceuticals proposes to establish a manufacturing base in Bahrain, while simultaneously discussing specific details of developing the business by expanding sales worldwide from Bahrain.

SBI Pharmaceuticals will continue to work closely with the government of Bahrain in accommodating the needs of the country and advancing the business. Simultaneously, we will endeavor to help people around the world stay healthy by further identifying the various possibilities of 5-ALA through pursuing R&D jointly with our partners inside and outside Japan.

(*1) 5-aminolevulinic acid (5-ALA): An amino acid created in mitochondria. It is an important substance that serves as protein material related to energy production in the form of hemes and cytochromes, and its productivity is known to decrease with age. 5-ALA is contained in shochu distillation remnants, red wine and food such as radish sprouts. It is also known as a material forming chloroplasts in plants.

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For further information, please contact:

SBI Holdings, Inc.: Corporate Communications Dept., Tel: +81 3 6229 0126

SBI Pharmaceuticals Co., Ltd.: Corporate Planning Dept., Tel: +81 3 6229 0095

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