Notice of filing of Restructuring Plan to the English Court

Sumitomo Corporation hereby informs that its Ambatovy Nickel Project in Madagascar has filed a Restructuring Plan (a debt restructuring procedure under English law) with the English Court on August 28, 2024, Japan time.

Sumitomo Corporation, through Summit Ambatovy Mineral Resources Investment B.V. (Head Office:Amsterdam Netherlands), its wholly-owned subsidiary, has invested in Ambatovy Minerals S.A., a mining company, and Dynatec Madagascar S.A., a refining company, (Head Office: Antananarivo Madagascar, hereinafter “Project Companies”) at 54.17% share ratio respectively. The Project is jointly operated with Korea Mine Rehabilitation and Mineral Resources Corporation (Head Office: Gangwon – do Korea, share ratio 45.82%). Project Companies are jointly controlled entities of Sumitomo Corporation and are accounted for by the equity method.

This is part of the efforts for stable and efficient operations at a higher level, including addressing the facility process issues that occurred in Year ended March 31, 2024, along with other improvement initiatives.