Mitsui & Co., Ltd. (Mitsui) has decided to divest all of its interests owned through MOEX North America LLC (MOEX NA), a wholly owned subsidiary of Mitsui, which currently holds 20% of the interest in the Kaikias field in the US Gulf of Mexico, to Shell Offshore Inc. (Shell), operator of the Kaikias field, as of December 13 (US time), and has signed an asset purchase and sale agreement (the "Transaction"). Mitsui has also decided that MOEX NA shall be dissolved and liquidated accordingly and will no longer be a designated consolidated subsidiary of Mitsui.

MOEX NA acquired 20% of the interest in the Kaikias field in December 2016 and has been continuing production activities together with Shell since May 2018. This divestment is to be carried out as part of Mitsui's strategy to reconfigure its business portfolio.

Mitsui is proactively improving its business portfolio to achieve both stable energy supply and climate change response. We will continue to strengthen the competitiveness of our earning base and contribute to enhanced quality of life, and sustainable development of society by further promoting upstream energy business as one of our main business domains.

Overview of Kaikias project:
   - Location: Offshore approx. 100km south-south-east from New Orleans, Louisiana
   - Shareholding Structure: Shell (operator): 80% - MOEX NA: 20%
   - Net Reserves: approx. 12.7 MMBoe

About Mitsui

Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world's main mega-trends: sustainability, health & wellness, digitalization, and the growing power of the consumer.

About Shell plc

Shell plc is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.