FOR IMMEDIATE RELEASE

Mitsubishi HC Capital Invests in European Energy A/S,a Green Energy Company
Enhance the Environment & Energy Business Globallyto Drive Green Transformation Forward
Tokyo, 19 January 2024 --- Mitsubishi HC Capital Inc. (TSE, NSE: 8593,
Representative Director, President & CEO: Taiju Hisai, the “Company”) announces that
the Company will invest approximately 700 million Euros in European Energy A/S(“European Energy”) (the “Investment”), a Danish company developing and operating
renewable and next generation energy business mainly in Europe, in accordance withthe resolution passed by the meeting of the Board of Directors held today, and signed
an Investment Agreement (the “Agreement”). The Company will acquire 20% ofoutstanding shares and voting rights in European Energy.
Through this Investment, the Company will enhance and extend its Environment &Energy Business in Europe where the pioneering activities towards decarbonization
are taking place and demand for green energy is expected to grow significantly.
1. Strategic Rationales of the Investment
European Energy, active in 28 countries, achieved more than accumulated 3GWof renewable energy development and has more than 60GW of development andconstruction pipelines mainly in Europe. Further, European Energy has a large
growth potential by being a global leading and pioneering player in Power-to-X
which produces green energy such as e-methanol and green hydrogen generated
from renewable energy sources.
“Promote a Decarbonized Society” is one of the Company’s important materiality.
The Company has been expanding its renewable energy business and increasing
added value in the segment to realise this materiality. In FY 2023, the Company
launched its Medium-term Management Plan for FY2023-FY2025 (“2025 MTMP”)
and is proceeding with the evolution and layering of business models to achievebusiness portfolio transformation. As one of its long-term growth strategies, theCompany has been pursuing to enhance development functions of renewableenergy business in Europe whereby this Investment will accelerate the initiative.
The Company, through the strategic partnership with European Energy and byleveraging the capability and knowledge of both companies, will accelerate the- more -- 2 -

development of renewable and green energy on a global scale. By enhancing its
initiatives in the Environment & Energy Business, the Company will contribute torealising a decarbonized society.
2. Overview of European Energy
(1)

Name

European Energy A/S(2)

Location

Gyngemose Parkvej 50, 2860 Søborg, Denmark(3)

Representative

Knud Erik Andersen, CEO(4)

Renewable energy and next generation energy business(5)Line of businessStated capital(6)

Date of establishment(7)

Major shareholders
and ownership ratios

(8)

(9)

3.

(1)
(2)
(3)
(4)

(as of 30 September 2023)

40,624 thousand Euro
April 2004

1. European Energy Holding ApS (74.2%)
2. MDP Invest ApS (13.8%)(as of 19 January 2024)
3. JPZ Assistance ApS (11.3%)
Relationship between Capital
Not applicable.
relationship
the Company andPersonnel
European Energy
Not applicable.
relationship
Business
Not applicable.
relationship
Business results and financial condition for the three most recent fiscal years
Year ended
Year ended
Year ended
Fiscal year
December 2020
December 2021
December 2022
Consolidated net
235 million Euro
350 million Euro
391 million Euro
assetsConsolidated total
739 million Euro 1,174 million Euro 1,737 million Euro
assetsConsolidated
206 million Euro
328 million Euro
438 million Eurorevenues
Consolidated EBITDA
61 million Euro81 million Euro
134 million EuroNet income attributable
16 million Euro
51 million Euro78 million Euroto owners of the parent

Number of Shares to be Transferred, Transfer Price, and Situation of Shares
Held Before and After the Investment
Number of shares
held before thetransfer
Number of shares tobe transferred
Transfer price
Number of shares
held after the transfer

0 share(number of voting rights：0)(voting rights holding ratio：0%)
Outstanding share：Approximately 75 million shares
Approximately 700 million EuroApproximately 75 million shares(number of voting rights：Approximately 75 million)(voting rights holding ratio：20.0%)- more -- 3 -4.

Method of the Investment
The Company will acquire the shares of European Energy through its whollyowned subsidiary in Denmark, MHC Energy Europe ApS, mainly by undertaking
new shares privately issued and allocated by European Energy.

5.

Future Outlook
European Energy will be the Company’s equity-method affiliate at the completionof the Investment (the Closing). Any impact on the consolidated financial
performance of the Company in association with the anticipated Closing is now
under review, and matters which should be disclosed, if any, will be promptlydisclosed.
Closing is scheduled during late fourth quarter of the fiscal year ending 31 March
2024. Profits and losses of European Energy after the Closing will be reflected in
the Company’s consolidated financials.
Closing is subject to obtaining regulatory approvals in relevant areas and countries
as well as fulfilment of terms and conditions specified in the Agreement.

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