Mitsui & Co., Ltd. (Mitsui) submitted a consent on August 25,2022 to take ownership of shares in Sakhalin Energy LLC ("LLC"), a newly established company to operate Sakhalin II Project, based on the Russian Presidential Decree dated June 30, 2022 (No.416) and Governmental Decree dated August 2, 2022 (No.1369). We hereby announce that we were informed of the approval from the Russian government yesterday, August 30, 2022 (local time).

We will proceed with discussions in connection with acquiring ownership in the LLC. There will be no change in our consolidated yearly forecast for the year ending March 2023 from that announced on May 2, 2022. We remain in discussion with stakeholders, including the Japanese government and business partners, regarding possible future action considering energy supply needs, while complying with related international sanctions.

About Mitsui

Mitsui & Co.'s five principal functions are marketing, financing, logistics, risk management, and IT and process development capabilities. We combine these functions to create and optimize value chains in a wide range of business fields. Maximizing our value-added content, we strive to meet the diverse needs of our customers around the world.

About Sakhalin Energy

Sakhalin Energy LLC (to which the rights and obligations of Sakhalin Energy Investment Company Ltd. under the Production Sharing Agreement were transferred on 19 August 2022) is developing the Piltun-Astokhskoye oil field and the Lunskoye gas field off the north-eastern coast of Sakhalin. Its activities include production, transportation, processing, and marketing of oil and natural gas.