Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) announced that it will sell all of its shares in PT Paiton Energy and two entities related to this business on the release "Mitsui to divest shares in PT Paiton Energy" dated June 22, 2021, and will sell all of its 40%-owned shares in MT Falcon Holdings S.A.P.I.de C.V. on the release "Mitsui to divest its interest in MT Falcon Holdings" dated September 16, 2021. Mitsui also announced on the releases that those two transactions were expected to close before the end of fiscal year ending March 2022, subject to completion of certain conditions precedent.

However, due to the time required to fulfill the conditions precedent, such as obtaining permits and approvals from the relevant authorities, those two transactions are now expected to be completed during the fiscal year ending March 2023.

The impact of the delayed completions on Mitsui's consolidated financial statements are as follows:

(1) Paiton transaction

The delay is not expected to have any significant impact on Mitsui's consolidated financial results. As announced dated June 22, 2021, Mitsui will record a profit following the completion of the transaction, however it is unable to calculate 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 from this transaction has not been reflected in Mitsui's forecasts for the fiscal year ending March 2023 announced on May 2, 2022.

(2) Falcon transaction

The impact of the delay has not been incorporated in Mitsui's forecasts for the fiscal year ending March 2023 announced on May 2, 2022, since Mitsui is currently discussing various terms and conditions with related parties in connection with the delay and it is difficult to estimate the impact at this time. Meanwhile, Mitsui recorded approximately ¥8.6 billion loss for the fiscal year ended March 2022.