The investment-grade notes offering consists of five tranches

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A / Regulation S offering by KKR Group Finance Co. XI LLC, a wholly owned finance subsidiary of KKR & Co. Inc., of ¥44.6 billion aggregate principal amount of 1.559% senior notes due 2029, ¥1 billion aggregate principal amount of 1.762% senior notes due 2031, ¥26.2 billion aggregate principal amount of 2.083% senior notes due 2034, ¥10 billion aggregate principal amount of 2.719% senior notes due 2044 and ¥9.6 billion aggregate principal amount of 3.008% senior notes due 2054.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Since inception, KKR has completed approximately 740 private equity investments in portfolio companies with a total transaction value in excess of $715 billion.

The Davis Polk capital markets team included partner Byron B. Rooney and associates Courtney Clark and Jee Young Kim. Partner Patrick E. Sigmon and associates Yueyu Yang and Omar Hersi provided tax advice. All members of the Davis Polk team are based in the New York office.

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