Mitsui : Notice of Divestment of Upstream Interest in the Kaikias Field in the US Gulf of Mexico and Change to Designated Consolidated Subsidiary (Dissolution and Liquidation)

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has decided to divest all of its interests owned through MOEX North America LLC ("MOEX NA"), a wholly owned subsidiary of Mitsui, which currently holds 20% of the interest in the Kaikias field in the US Gulf of Mexico, to Shell Offshore Inc. ("Shell", wholly owned subsidiary of Shell plc), operator of the Kaikias field, as of December 13 (US time), and has signed an asset purchase and sale agreement. Mitsui has also decided that MOEX NA shall be dissolved and liquidated accordingly and will no longer be a designated consolidated subsidiary of Mitsui.

MOEX NA acquired 20% of the interest in the Kaikias field in December 2016 and has been continuing production activities together with Shell since May 2018. This divestment is to be carried out as part of Mitsui's strategy to reconfigure its business portfolio.

Mitsui is proactively improving its business portfolio to achieve both stable energy supply and climate change response. We will continue to strengthen the competitiveness of our earning base and contribute to enhanced quality of life, and sustainable development of society by further promoting upstream energy business as one of our main business domains.

Please refer to the attached file for details.