Daiichi Life Confirms Submission of Non-Binding Acquisition Proposal to Australian Challenger

On October 19, Daiichi Life Group issued a public announcement regarding media reports stating that its Australian subsidiary, TAL Daiichi Life Australia Pty Limited (hereinafter 'TDA'), had submitted a non-binding proposal to acquire shares in Challenger Limited. The company clarified that these reports were not based on any official announcements from the group. Daiichi Life confirmed that TDA has indeed submitted a non-binding proposal to the Challenger board of directors, but stated that no decision has yet been made on whether to proceed with a binding transaction.