Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) has entered into a Strategic Collaboration Agreement with ADNOC, a reliable and responsible provider of lower-carbon intensity energy, the Japan Organization for Metals and Energy Security ("JOGMEC"), and INPEX CORPORATION ("INPEX") to conduct a joint study (the "Study") to verify the greenhouse gas ("GHG") emissions of a clean ammonia project (the "Project") in the United Arab Emirates. The agreement was signed in the presence of Yasutoshi Nishimura, Japan's Minister of Economy, Trade and Industry, and His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Ichiro Takahara, the Chairman & CEO of JOGMEC, at a bilateral meeting held at the 2023 G7 Ministers' Meeting on Climate, Energy and Environment on 16th April.

The Study will examine calculation and measurement methods of GHG emissions and carbon intensity for the capture and storage of CO2 emitted from the Project's production processes in the UAE. Mitsui agreed to participate in the ADNOC-led Project last year, with the aims of contributing to future exports of clean ammonia to Japan and the decarbonization of the country's electric power, by verifying CO2 reduction methods and reduction volumes.

In addition, JOGMEC's technical support during the Study is to be implemented as part of the JOGMEC's financial assistance program for hydrogen including ammonia. Mitsui will consider using JOGMEC's financial assistance program for clean ammonia production projects in the UAE in future.

Mitsui has set a target of achieving net-zero emissions by 2050 and aims to halve its GHG impact by 2030 as compared to the level in the fiscal year ended March 2020. Further, Mitsui will contribute to the realization of a carbon-neutral society through the Project and other GHG reduction initiatives.