June 22, 2021
For Immediate Release
To whom it may concern
Mitsui & Co., Ltd.
Mitsui to divest shares in PT Paiton Energy

Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) today announce that it hassigned a sale and purchase agreement dated today with RH International (Singapore) Corporation Pte. Ltd.
(“RHIS”), a wholly-owned subsidiary of RATCH Group Public Company Limited (“RATCH”), in which Mitsui willsell all of its shares in PT Paiton Energy (“PE”) and two entities related to this business to RHIS (the“Transaction”). Details of the shares to be sold are shown in the table below.
PE owns and operates coal-fired thermal power plants in Indonesia under a long-term power purchaseagreement with PT Perusahaan Listrik Negara (Persero) (“PLN”, Indonesian national electricity powercompany). RATCH, a public company listed on the Stock Exchange of Thailand, is a leading value-oriented
energy and infrastructure company in Thailand and the Asia Pacific region.
This transaction is expected to close before the end of fiscal year ending March 2022 subject to completion ofcertain conditions precedent, including PLN consent, financing party consent, and RATCH shareholder
approval. Following the completion of the transaction, Mitsui will record a profit, however it is unable tocalculate reasonably due to customary price adjustment mechanisms etc. Mitsui will announce the impact on
both consolidated and standalone financial results immediately upon confirmation. The expected profit fromthis transaction has not been reflected in Mitsui’s forecasts for the fiscal year ending March 2022.
Mitsui has announced “evolve financial strategy and portfolio management” as one of its corporate strategies
for its Medium-term Management Plan 2023. This transaction is being implemented as part of Mitsui’s ongoingstrategy to re-cycle its business portfolio. PE is one of the largest independent power producers in Indonesia,
making a positive contribution to the needs of local life and businesses in Indonesia. RATCH and RHIS haveextensive knowledge and experience in the power business in Thailand and overseas (including in Indonesia),
and are well placed to support PE’s continued safe and reliable operation to meet these social needs.
1. Shares to be soldShare soldSharesSellerPT Paiton Energy (Indonesia)

Mitsui45.515%

Minejesa Capital B.V. (Netherlands)

Paiton Power Financing B.V.

45.515%

IPM Asia Pte. Ltd. (Singapore)（100% subsidiary of Mitsui）

65.0%(including indirect）

2. Outline of Paiton Energy
Location

Republic of Indonesia, Paiton (approximately 150km south east from Surabaya)

Capacity

2,045MW (Paiton 7/8：1,230MW、Paiton 3：815MW)

Generation Method

Coal fired

Off taker
Commencement of

Republic of Indonesia, Governmental-owned electricity corporation
PT PLN (Persero)
Paiton 7/8 in 1999, Paiton 3 in 2012

operation

3. Outline of RATCHName

RATCH Group Public Company Limited

Listed market

Stock Exchange of Thailand
RATCH is a holding company focusing on equity investment mainly inconventional and renewable power generation and related businesses, as wellas high growth non-power business such as infrastructure and healthcare. At

Business overview

present, RATCH has interest and operational base in Thailand, Lao PDR,
Australia, Indonesia, Singapore and Vietnam. Development, investment andoperation of overseas power generation business are mostly by its investment
arm, RHIS.

URLhttps://www.ratch.co.th/en

For further information, please contact:
Mitsui & Co., Ltd.
Investor Relations Division Tel:

+81-3-3285-7657

Corporate Communications Division Tel:
+81-80-5912-0321
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 or cash flows to bematerially different from any future results, financial position or cash flows expressed or implied bythese forward-looking 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 QuarterlySecurities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-lookingstatements. This announcement is published in order to publicly announce specific facts stated above,and does not constitute a solicitation of investments or any similar act inside or outside of Japan,
regarding the shares, bonds or other securities issued by us.