Mitsui to Sell Its Interest in C2C Power Wind &Solar Power Generation Portfolio in Canada
October 29, 2019
Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) has
entered into an agreement with Axium Infrastructure (“Axium”), to sell its entire interest (30%) inC2C Power LP (“Project”), which has operated 12 assets of wind and solar power generation
portfolio in Canada. Axium and Mitsui are existing partners of the Project through each of its
affiliate, together with Engie Canada Inc. Mitsui has invested in the Project through its investmentcompany MIT Renewable Inc., which executed a purchase and sale agreement with a new limited
partnership led by Axium. The Projects’ enterprise value is approximately C$ 1.9bil (equivalent toapproximately JPY 158bil on a C2C LP 100% basis). This transaction will be effective after
relevant regulatory approval and a process under existing shareholders’ agreement in relation tofirst refusal right, which are expected to be completed by the end of March 2020.
In Mitsui’s business plan for the fiscal year ending in March 2020 announced on April 26 of thisyear, Mitsui states that cash flow focused management/strengthening of the financial basecontinues to be one of its key initiatives. In line with the plan, this asset divestment was conducted
as a part of the strategic asset recycling, and the expected capital gain from this transaction islargely incorporated in the business plan.
1. Outline of C2C Power Wind and Solar Power Generation business

Location

12 sites in Ontario, British Columbia and other provinces inCanada

Generation Capacity

679MW (Installed Capacity)

Fuel Type

Wind, Solar

Buyer of Electricity

Electricity wholesale market, Electricity Company in eachlocation.

Commencement ofOperation2007 to 2014

2. About Axium Infrastructure Inc.:
OfficesMontreal, Toronto, New York, Vancouver

Business

Axium Infrastructure (comprised of Axium Infrastructure Inc.
and its affiliated entities) is an independent portfolio
management firm dedicated to generating long-term
investment returns through investing in core infrastructure
assets. Since 2010, the firm has invested in a diversified
portfolio of over 135 North American infrastructure assets in theenergy & utilities, transportation, social infrastructure sectors.

URL

https://www.axiuminfra.com/

Notice:This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current
assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks,uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position orcash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forwardlooking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in
Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update orrevise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation ofinvestments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.
The information contained in this release is true and accurate at the time of publication; however, it may be subject to change without
prior notice.

For inquiries on this matter, please contact
Mitsui & Co., Ltd.
Investor Relations Division
Telephone: +81-3-3285-7657
Facsimile: +81-3-3285-9821
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-3-3285-7596
Facsimile: +81-3-3285-9819
Axium Infrastructure
Investor Relations
Telephone: +1 514-954-3781