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Joint Feasibility Study for Creation of a Supply of Low Carbon Ammonia in Western Australia

Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and Chief Executive Officer: Kenichi Hori)
and Japan Oil, Gas and Metals National Corporation (“JOGMEC”, Head Office: Tokyo, Chairman &
CEO: Tetsuhiro Hosono) have agreed to conduct a joint feasibility study on Carbon Capture and
Storage (“CCS”) in Western Australia associated with Mitsui’s Perth Basin investments.

Mitsui has also agreed with Wesfarmers Chemicals, Energy & Fertilisers Limited (WesCEF) to jointly
study the commercial and technical viability of building a low carbon ammonia production plant
which will include Carbon Capture and Storage (CCS) solutions to be provided by Mitsui in Western
Australia. WesCEF is a division of Wesfarmers Limited, one of Australia’s largest publicly-listed
companies, and operates chemicals, energy and fertiliser businesses that service a range of sectors
in both domestic and international markets.

Mitsui is developing the Waitsia gas field in the Mid West region of Western Australia as the
Operator, with a 50 per cent working interest through its wholly-owned subsidiary Mitsui E&P
Australia Pty Ltd (“MEPAU”).

MEPAU also holds a 100 per cent working interest in nearby depleted gas fields in Perth Basin.
MEPAU as a subsidiary of Mitsui & Co. has the credibility, capabilities and global network to develop
natural gas assets and produce low carbon ammonia for the benefit of markets in both Asia,
including Japan, and Australia.

Specifically, MEPAU will investigate the production and export of low carbon ammonia made from
hydrogen generated from Mid West natural gas, with potential for the associated CO2 to be stored in
depleted gas fields in Perth Basin. The joint study with JOGMEC and WesCEF will research the
potential for carbon storage in depleted gas fields and also consider alternate sites in Western

MEPAU recognises WesCEF’s strong capability as an ammonia manufacturer and is proud to
announce WesCEF as a preferred partner to progress the low carbon ammonia business. MEPAU is
pleased to have executed a Memorandum of Understanding with WesCEF to leverage the respective
strengths and expertise of each business. Together MEPAU and WesCEF will collaborate with a view
to creating a supply chain of low carbon ammonia which has the potential to deliver significant
benefit to the Australian economy through investment and jobs growth.

Mitsui will utilize its extensive knowledge of the upstream natural gas industry and strong global
networks, as well as the knowledge gained through its investment in Storegga Geotechnologies
Limited (UK) to develop future CCS interests.

JOGMEC will further promote international cooperation in the fields of CCS, clean hydrogen and
ammonia, and contribute to the realization of a carbon-neutral society through the stable supply of
natural resources and energy, including the implementation of this joint study.