Japan: 100 (Including 54 Secondees) Overseas: 99 (Including 48 Secondees)

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Japan: 100 (Including 54 Secondees) Overseas: 99 (Including 48 Secondees) Energy Business Group Investor Meeting December 13, 2012 Mitsubishi Corporation Energy Business Group Contents 1. Overview of Energy Business Group ① Organizational Structure ② Business Performance (Positioning in MC) ③ Value Chain ④ Measures Focused on Future Growth ⑤ Global Expansion of Energy Resources Business ⑥ Equity Share of LNG Production / Equity Share of Oil and Gas Production and Reserves 2. Outline of Business Divisions — Natural Gas Business ① Outlook for LNG Demand by Country/Region ② Diversifying LNG Supply Sources ③ List of Existing LNG Projects ④ Outline of Projects in the Pipeline • Donggi-Senoro LNG Project • Shale Gas Development in Canada/LNG Canada • Browse LNG Project in Australia • Wheatstone LNG Project in Australia • Natural Gas Development in Papua New Guinea • SGU Project in Iraq • Cameron LNG Project 1 Contents 3. Outline of Business Divisions—E&P Business ① Environment Surrounding the E&P Business ② List of Major Projects ③ Overview of Kangean Project in Indonesia 4. Outline of Business Divisions — Petroleum Business ① Organizational Chart for the Petroleum Business Division ② Environment Surrounding the Petroleum Industry ③ Key Initiatives 5. Outline of Business Divisions — Carbon & LPG Business ① Major Products in the Carbon Business ② Key Initiatives in the Carbon Business ③ LPG Business/Astomos Energy ④ LPG Business Value Chain 2 1. Overview of Energy Business Group 3 4 Headcount Overseas sites Business Investees Business Head Office: 392 Japan: 100 Overseas: 99 Japan: 41 Overseas: 53 (including 54 secondees) (including 54 secondees) (including 48 Middle East: 7 Middle East: North America: 2 Europe: 3 Russia: 1 2 America: Central and South Asia: 13 (including Oceania) Group headcount: 591 94 No. of business investees: No. of Group overseas sites: 28 sites: No. of Group overseas Namikata Terminal Business Unit Carbon & LPG LPG Business Unit Business Division Specialty Carbon & Graphite Business Unit Petroleum Coke Unit Carbon Materials Unit Petroleum Feedstock Unit Petroleum Business Utility Feedstock Unit Division Industrial Petroleum Marketing Unit Petroleum Supply & Marketing Unit Shale Gas Business Unit Donggi-Senoro Project Unit Natural Gas Business Global Gas Unit Division B New Business Development Unit Sakhalin Project Unit Middle East Natural Gas Business Unit Organizational Chart Organizational Energy Business Group (As of October 1, 2012) (As of October Indonesia Project Unit Natural Gas Business Australia Unit Division A Malaysia Project Unit Brunei Project Unit E&P New Business Development Unit Senior Vice President Asia E&P Business Unit Officer for E&P Africa, Europe and America E&P Business Unit New Business Development Office Energy Business Group Administration Dept. Energy Business Group CEO Office Organizational Structure ① ② Business Performance (Positioning in MC) (Billion yen) 5,000 500.0 グループGroup 全社Company-wide 4,500450.0 4,000400.0 3,500350.0 3,000250.0 2,500200.0 464.5 452.3 2,000 200.0 371.0 330.0 1,500 150.0 275.8 1,000100.0 120.6 130.0 50.0500 82.8 71.9 94.0 00 Year Ended Year Ended Year Ended Year Ended Year Ending March March 2009 March 2010 March 2011 March 2012 2013 (Forecast) Oil price (Dubai) $81.8 $69.6 $85.7 $110.1 (Assumption) $108.2 Exchange rate 100.7 yen 92.9 yen 84.2 yen 79.1 yen ( 〃 ) 79.7 yen Impact of changes in oil price on earnings (net income): for every $1/bbl increase (decrease) in the oil price, net income will increase (decrease) approx. 1.0 billion yen on a full-year basis. 5 ③ Value Chain Upstream Liquefaction/marketing Trading Transport End users ・ Joint venture with TEPCO ・ Malaysia LNG 3 ・ Brunei LNG ・CELT Inc. ・ BST (Brunei) ・ Malaysia LNG (1 & 2 & 3) ・ MIMI(NWS/Browse) ・ IGTC(NWS) Power companies ・ MIMI(NWS/Browse) Natural ・ Sakhalin Energy Investment ・ MI Berau B.V. (Tangguh) ・ Sakhalin Energy Investment ・ Oman LNG gas (LNG) ・ Tomori E&P (Donggi) Gas companies ・ MI Berau B.V. (Tangguh) ・Canada shale gas ・ DSLNG Petroleum ・Papua New Guinea ・ PEW (Wheatstone LNG) ・Wheatstone Petroleum companies ・ LNG Canada/ U.S. LNG Export Natural Gas Business Divisions Steelmakers ・ MCX ・ MCX USA ・ MCX DUNLIN * Blue text represents business investees ・ MPDC Gabon ・ MEDCO Aluminum ・ Angola Japan Oil ・EMPI E&P manufacturers International shipping Trading Marketing / storage Primary distribution / Domestic distribution Petrochemical fleet / terminals refining / trading industry Crude oil ・Southeast Asia ・Diamond Tanker ・ Kanokawa ・Middle East Terminal Automakers ・West Africa ・PDI ・ Onahama ・Australia ・Mitsubishi Shoji Petroleum ・Showa Yokkaichi Petroleum ・PDS Sekiyu General industry Sekiyu ・ products ・PDI MC Energy ・Dia Shoseki Petroleum Business Division Paper and pulp manufacturers Supply of raw materials / Primary Secondary manufacturing / Logistics / trading Logistics Electronics manufacturing and processing processing / carbon products manufacturers ・Coal coke ・Sekiyu Cokes Kogyo ・SG Chemicals Carbon ・Petroleum coke ・MC Carbon ・Joint venture project in China ・MC Carbon Food manufacturers ・Coal tar ・Ryoshin Bulk Trans (MZAS/ Nanjing Baoning Chemical Industries) ・Nihon Electrodes Industry Ceramics industry Logistics / trading Storage Primary distribution / wholesaling LPG ・ Electrode Namikata Terminal manufacturers ・Astomos Energy ・ Astomos Energy Carbon & LPG Business Division New Business Development ①Biomass fuel ②Fuel cell / hydrogen usage ③Power generation business ④ On-site power supply (co-generation) ⑤Geothermal business Office 6 ④ Measures Focused on Future Growth Management A unique and sustainable energy company vision: (All in the name of creating an enriched society through energy) ・Petroleum and gas: Tight supply-demand over the medium and long terms Business → intensified competition for resources environment: ・Nuclear issue → increased demand for natural gas and petroleum ・Shale revolution → expanded use of gas (transport, electricity, petrochemicals) ① Build a structure that generates steady business earnings by achieving balanced growth of resource businesses (natural gas, LNG and E&P) and non-resource businesses (petroleum, carbon and LPG) ② Maintain and expand the Group’s industry presence by expanding Aspirations: natural gas (LNG) business domains, which form the core of the Group’s earnings ③ In non-resource businesses, maintain a strong presence in the Japanese market, while promoting globalization of business centered on Asia and emerging countries. 7 ⑤ Global Expansion of Energy Resources Business U.K. North Sea Development/ Canada Shale Gas Production Development Projects (Crude oil) Sakhalin II LNG U.S. Gulf of Mexico Development/ Production Iraq SGU (Crude oil) Oman LNG Liberia Exploration (Crude oil) Gabon Exploration/ Development/ Production Malaysia LNG (Crude oil)) Venezuela Brunei LNG Development of Orinoco heavy oil Browse LNG Donggi-Senoro LNG (Crude oil) Angola North West Shelf LNG Tangguh LNG Development/ Kimberly Production Wheatstone LNG Exploration (Crude oil) (Crude oil/ Investment in Natural gas) MEDCO Papua New Guinea Kangean Exploration/ Development/ Development Production (Natural gas) (Crude oil/ Natural gas) 8 ⑥ Equity Share of LNG Production / Equity Share of Oil and Gas Production and Reserves (Million tons/year) Equity ShareLNG持分生産能力 of LNG Production 12.001200 タングー*Tangguh* サハリンⅡ* 10.001000 Sakhalin II* Target: カルハットQalhat (Oman) 8.00800 7.05 7.05 7.05 7.05 (オマーン) 10 million tons オマーンOman 6.00600 4.97 4.97 5.34 西オーストラリア*Western Australia* マレーシア3*Malaysia III* 4.00400 マレーシア2Malaysia II 2.00200 マレーシア1Malaysia I ブルネイBrunei 00 20062006年 20072007年 20082008年 20092009年 2010年 20112011年 20122012年 20132013年 20202020年 * Owns upstream working interest Equity Share of Oil and Gas Production (Yearly Average)*1 (Thousand BBL/Day) 160 Crude il/condensate 146 ■ 天然ガスNatural gas原油・コンデンセート■ Crude oil/condensate 141 0.22 Billion BBL 140 120 116 47 39 100 90 84 49 Natural gas 76 84 90 80 82 76 84 0.91 Billion BBL 63 48 42 60 40 99 102 40 67 20 36 41 42 0 MC’s Reserves 2006 2007 2008 2009 2010 2011 2012 Total *1*2 1.13 Billion BBL *1 Oil equivalent. Includes consolidated subsidiaries and equity-method affiliates (est.) *2 Participating interest equivalent. Includes reserves based on original standards set by MC (As of December 31, 2011) 9 2. Outline of Business Divisions — Natural Gas Business 10 ①Outlook for LNG Demand by Country/Region LNG demand is projected to increase approximately 1.5-fold to 370 million tons in 2020, from 240 million tons in 2011. (million tons/year) 2010 2011 2012 2015 2020 Actual Actual Est. Est. VS 2011 Est. VS 2011 Asia-pacific region 135 154 171 187 32 238 83 Japan 70 79 86 80 2 93 15 Korea 33 37 36 37 0 37 0 Taiwan 11 12 13 15 3 20 8 China 912162613 45 33 India 91116132 20 9 Other Asia 0111110 16 16 Chile, Mexico (Pacific Coast) 33363 6 3 Atlantic region 75 87 76 99 12 130 43 Europe 56 66 52 73 7 106 40 North America (Excl. Pacific Coast) 13 13 9 7 (6) 8 (5) Others (Middle East, Central & South America) 69151910 16 8 Worldwide total 210 241 247 285 44 368 127 11 ②Diversifying LNG Supply Sources • LNG exporting regions, which are currently centered on Asia and Oceania, will expand to North America, Africa and other regions. (There were 20 supplying nations in 2011.) East Siberia West Siberia West Canada Europe サハリンSakhalin U.S. Qatar China East Africa East Australia (CBM) Brazil Existing supply regions New supply regions LNG importing regions 12 ③List of Existing LNG Projects Start Project MC’s Role Shareholding 1969 Alaska LNG Sales to Tokyo Electric and Tokyo Gas; Negotiation support;
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