Marubeni : Notification Regarding Business Policies & Progress Pertaining to Sustainability (Update to Coal-Fired Power Generation Business and Renewable Energy Generation Business)

October 4, 2019

Marubeni Corporation

Notification Regarding Business Policies & Progress Pertaining to Sustainability

(Update to Coal-Fired Power Generation Business and Renewable Energy Generation Business)

Marubeni Corporation (hereinafter, "Marubeni") first announced its "Notification on Policies in Relation to Coal- Fired Power Generation Business and Renewable Energy Generation Business" in September of 2018. Today, Marubeni would like to give an update and progress report regarding the goals that have been implemented under those policies.

1. The Process of Pulling out of Coal-Fired Power Generation

Marubeni has decided to cut its FY2018 coal-fired net generation capacity of approximately 3GW in half by 2030. As such, Marubeni has already sold off 2 projects in Asia (with a net generation total of 69MW) and pulled out of 1 project in Botswana, Africa (with a net generation total of 150MW). The result of this has been that, as of end of September 2019, Marubeni's net generation capacity due to coal-fired generation has been reduced to approximately 2.7GW.

2. Proactive Involvement in Renewable Energy Generation Business

Looking forward to the expansion of the renewable energy generation business, Marubeni is striving to expand the ratio of power generated by renewable energy sources in its own net power supply from approximately 10% to approximately 20% by 2023. As such, in March 2019, Marubeni began construction on the Amin Solar PV Independent Power Project in Oman which will have a gross generation capacity of 105MW. Additionally, in April of this year, commercial operations commenced on the Sweihan Photovoltaic Independent Power Project in Abu Dhabi which has a 1,117MW gross generation capacity.

Furthermore, U.K. subsidiary SmartestEnergy*1 among others are always working to expand the wholesale and retail sale of power generated from renewable sources. In terms of Marubeni's policy to contribute to the achievement of a low-carbon society, Marubeni has invested in WASSHA Inc.and Azuri Technologies Ltd., both of which are companies that utilize distributed solar power generation to develop accessible electricity and expand digital consumer product services in off-grid regions of Africa. Additionally, SmartestEnergy is deploying its business into the United States and is planning further expansion to other countries.

Moving forward, Marubeni will continue to work alongside and collaboration with a diverse demographic of shareholders while contributing to efforts to combat global climate change through a variety of business endeavors.

*1 SmartestEnergy: Marubeni established this company in the U.K. in 2001. SmartestEnergy purchases primarily renewably generated energy from small to medium-sized independent power producers, which it then sells wholesale to the market, or retail to corporate buyers. https://www.smartestenergy.com/