CVC Fund 'KIRIN HEALTH INNOVATION FUND' Invests in Brave group, a Global Operator of IP-Related Businesses Centered on Comprehensive VTuber Production

Kirin Holdings Company, Limited (President & COO: Takeshi Minakata) invested in Brave group Inc. (Representative Director: Keito Noguchi; hereinafter 'Brave group') on Thursday, July 31, 2025, through the Corporate Venture Capital (CVC) fund 'KIRIN HEALTH INNOVATION FUND' jointly established with Global Brain Corporation (President: Yasuhiko Yurimoto), a leading independent venture capital firm.

It is believed that digital natives, primarily Gen Z and Alpha, have latent health issues related to mental health, sleep, and lifestyle habits. To address the health challenges of this younger demographic, there is a need for communication methods that lead to proper understanding, going beyond mere information provision. Young people have diversified ways of receiving information, not only through mass media like TV commercials but also via two-way communication with influencers and their 'oshis' (favorites).

Brave group promotes entertainment businesses capitalizing on content highly compatible with the youth, such as eSports and music. Handling everything from VTuber (*1) planning and development to streaming, events, and community building in an integrated manner, they have built a robust fan base through daily two-way communication. Through this investment, our company aims to deepen the understanding of health among young people by focusing on these touchpoints, while also creating new businesses and expanding the business foundation in the health science domain.

*1 VTuber (Virtual YouTuber): An internet streamer who conducts activities such as live streaming and video posting using an avatar (CG character).

Under its long-term management vision 'Innovate 2035!', the Kirin Group strives to create new value in domains related to 'food and health', encouraging behavioral changes in consumers and patients, and giving rise to new lifestyle habits. Leveraging our unique business portfolio of alcohol, beverages/health science, and pharmaceuticals, we will expand cross-group initiatives that contribute to physical and mental health. The Kirin Group will continue to drive innovation through the power of people and technology, aiming for sustainable improvement in corporate value as a 'Global CSV*2 Leading Company' that creates both social and economic value.

*2 Abbreviation for Creating Shared Value. The creation of value that can be shared with customers and society.

About Brave group Inc. Established in 2017, Brave group is a continuously growing company centered on entertainment businesses, planning, developing, and operating VTubers. It deploys highly unique IPs such as 'Vspo!', which has strength in the eSports domain, and has built a multifaceted business model that includes merchandise, events, and licensing in addition to streaming. Furthermore, while maximizing IP value through the internalizing of 3D/XR technologies and studio functions, the company aims for the global growth of Japanese IPs through anime adaptations and strengthened overseas expansion in the future.

About the CVC fund 'KIRIN HEALTH INNOVATION FUND' Through this CVC fund, our company invests in domestic and overseas startups with innovative technologies and business models, targeting solutions that improve customer experiences and cutting-edge technologies related to health science. We target startups expected to generate value from a medium- to long-term perspective, without fixating on short-term synergy creation. By combining the new ideas and technologies of startup companies with the Kirin Group's strengths and resources in the health science domain, we will create attractive value that enriches our customers' lives.

The Kirin Group expands new joy in 'food and health' through manufacturing that gazes closely at nature and humanity, contributing to the realization of a spiritually rich society.

Corporate Overview

(1) Overview of CVC Fund 'KIRIN HEALTH INNOVATION FUND' Name KIRIN HEALTH INNOVATION FUND (Registered Name) KIRIN-GB Investment Limited Partnership Investment Targets Domestic and overseas startup companies related to the health science domain Establishment Date March 2020 Total Fund Size 5.0 billion yen Operation Period 10 years General Partner Global Brain Corporation

(2) Overview of Global Brain Corporation Company Name Global Brain Corporation Location 2-17-1 Shibuya, Shibuya-ku, Tokyo Representative Yasuhiko Yurimoto, President and Representative Director Established January 1998 Business Description Venture capital business URL http