Kawasaki Heavy Industries, Ltd.
CB&I STORAGE TANK SOLUTIONS LLC
September 20th, 2024
Houston, USA

Kawasaki and CB&I Sign a Strategic Collaborative Agreement
for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

Tokyo, September 20, 2024 — Kawasaki Heavy Industries, Ltd. (“Kawasaki”) and CB&I , a wholly
owned unrestricted subsidiary of McDermott, announced today their signing of a strategic
agreement for promoting a commercial-use liquefied hydrogen supply chain and realizing a zerocarbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in
Houston on September 18, 2024.
Both companies will use their specialized know-how to provide infrastructure that will enable
commercial-scale international Liquefied Hydrogen supply chains in order to help achieve carbonneutrality. By leveraging our combined expertise to deliver large-scale Liquefied Hydrogen
infrastructure solutions, Kawasaki and CB&I are removing barriers, driving down costs andenhancing scalability across the entire supply chain.
Comments from Both Parties
Motohiko Nishimura, President, Energy Solution & Marine Engineering Company, Kawasaki HeavyIndustries, Ltd.: “We are very pleased for this opportunity to build and launch a commercial liquefiedhydrogen supply chain in cooperation with CB&I. By taking advantage of both companies’ strengths
and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain
competitiveness, and accelerate the transition to a zero-carbon-emission society.”
Mark Butts, Senior Vice President, CB&I Storage Tank Solutions LLC: “This strategic partnershiprepresents a significant advancement in liquid hydrogen storage capabilities. Our technicalexpertise and extensive experience in liquid hydrogen storage position us at the forefront of theenergy transition, delivering reliable storage solutions and executing projects worldwide withproven success.”

Under this agreement, the companies will provide infrastructure to advance the global realizationof a sustainable energy economy and meet decarbonization targets. This collaboration will reduce
Liquefied Hydrogen infrastructure costs and contribute to more widespread use of this clean andefficient energy source.

Kawasaki Heavy Industries, Ltd.
CB&I STORAGE TANK SOLUTIONS LLC
September 20th, 2024
Houston, USA

Signing ceremony in Houston
From left (honorifics omitted):
Motohisa Amako, General Manager, Hydrogen and Carbon Neutral Division,
Energy Solution & Marine Engineering Companyof Kawasaki Heavy Industries, Ltd.
Motohiko Nishimura, President, Energy Solution & Marine Engineering Companyof Kawasaki Heavy Industries, Ltd.
Mark Butts, Senior Vice President, CB&I
Brian Sherman, Vice President, Commercial, CB&I

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years ofexperience manufacturing products spanning land, sea and air. Kawasaki established theKawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for theFuture,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “NearFuture Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for socialissues. For “Energy and Environmental Solutions” in particular, by securing the technology
necessary for the entire supply chain (for production, transportation, storage and utilization)ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, theultimate clean energy that emits no carbon dioxide when used. To learn more, visit
https://global.kawasaki.com/en

Kawasaki Heavy Industries, Ltd.
CB&I STORAGE TANK SOLUTIONS LLC
September 20th, 2024
Houston, USA
About CB&I
CB&I is the world's leading designer and builder of storage facilities, tanks, and terminals. With
more than 60,000 structures completed throughout its 130-year history, CB&I has the global
expertise and strategically located operations to provide its customers world-class storage
solutions for even the most complex energy infrastructure projects. CB&I is a wholly ownedunrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.
About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to theenergy industry. Our customers trust our technology-driven approach engineered to responsibly
harness and transform global energy resources into the products the world needs. From concept
to commissioning, McDermott's innovative expertise and capabilities advance the next generationof global energy infrastructure—empowering a brighter, more sustainable future for us all.
Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources
include more than 30,000 employees, a diversified fleet of specialty marine construction vessels
and fabrication facilities around the world. To learn more, visit www.mcdermott.com.