Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) 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.