Mitsui Matsushima : Notice concerning Additional Acquisition of Shares of Consolidated Subsidiary

May 17, 2023

To Whom It May Concern:

Company name: Mitsui Matsushima Holdings Co., Ltd.

Representative: Taishi Yoshioka, Representative Director and President

(Stock Code: 1518, Prime Market of the Tokyo Stock Exchange and the Fukuoka Stock Exchange) Contact: Mikiko Abe, Executive Officer and General Manager of Business Planning Dept.

Tel: [phone]

Notice concerning Additional Acquisition of Shares of Consolidated Subsidiary

Mitsui Matsushima Holdings Co., Ltd. (the "Company") hereby announces that it has decided to acquire additional shares of MOS Co., Ltd., its consolidated subsidiary (hereinafter, referred to as "MOS"). This is because it received a notice (hereinafter, referred to as the "Notice") from Marubeni Corporation (hereinafter, referred to as "Marubeni Corporation") that Marubeni Corporation would exercise its right to sell all of the shares of MOS it holds to the Company (hereinafter, referred to as the "put option") on May 16, 2023.

1. Reasons for additional acquisition of shares

In line with the Medium-term Management Plan (five-year plan) established in November 2018, the Group has set forth a policy of actively investing in non-coal production businesses, and as part of this policy the Company acquired 50.1% of the shares of MOS to make it a consolidated subsidiary on February 15, 2023. Based on the shareholders' agreement between the Company and Marubeni signed in January 2023, Marubeni Corporation exercised its put option and accordingly, the Company will additionally acquire all of the shares of MOS (49.9%) held by Marubeni.

2. Number of shares to be acquired, acquisition price, and status of shares held before and after the acquisition

		100,200
(1)	Number of shares held before the change	(Number of voting rights: 100,200)
		(Percentage of voting rights: 50.1%)
(2)	Number of shares to be acquired	99,800
(Number of voting rights: 99,800)
(3)	Acquisition cost	2,345,300,000 yen
		200,000
(4)	Number of shares held after the change	(Number of voting rights: 200,000)
		(Percentage of voting rights: 100%)

3. Date of share acquisition

May 23, 2023 (scheduled) (Note 1)

(Note 1) The shareholders' agreement sets the date of share acquisition as 30 days after the date when the Company receives the Notice or as otherwise agreed upon, and sets the date of acquisition as above.

4. Funds for acquisition

The entire amount will be provided by cash on hand.

5. Future outlook

Since MOS is already a consolidated subsidiary of the Company, the impact of this transaction on its consolidated financial results for the fiscal year ending March 2024 is immaterial.

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