Sumitomo Corporation to Sell Part of Its Stake in Gas-Fired Power Generation Business in Thailand

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Shingo Ueno) has completed the transfer of a portion of its equity interest (15%) of its stake in Amata B.Grimm Power Limited ("ABPL"), which operates a power business centered on gas-fired power generation in Thailand, to Shikoku Electric Power Co., Inc. ("Shikoku Electric"). Following the share transfer, the ownership structure of ABPL is as follows:
B.Grimm Power PCL at 51.20%, Sumitomo Corporation at 15.00%, Shikoku Electric at 15.00%, Amata U Company Limited at 13.77%, and B.Grimm Power PCL's major shareholder at 5.03%.

ABPL owns gas-fired and solar power generation facilities with a total capacity of approximately 1,400 MW at industrial estates in Thailand. In addition to wholesaling electricity to the Electricity Generating Authority of Thailand (EGAT), ABPL supplies electricity and steam to approximately 170 tenant companies in the industrial estates and supports the installation of rooftop solar power systems.

Since investing in ABPL in 2007, Sumitomo Corporation, together with B.Grimm Power PCL and Amata U Company Limited, has responded to growing electricity demand in industrial estates and supported Thailand's industrial infrastructure by supplying electricity to EGAT and tenant companies within the industrial estates.

With Shikoku Electric joining the business as a new shareholder and contributing the expertise it has accumulated through its electricity businesses in Japan and overseas, ABPL is expected to further enhance the stability of its operations and strengthen its business foundation.

This share sale was carried out as part of Sumitomo Corporation's efforts to accelerate portfolio transformation, one of the key management priorities set out in the Medium-Term Management Plan 2026 announced in May 2024.By strategically reallocating funds and management resources generated through business portfolio optimization to growth areas, Sumitomo Corporation aims to further enhance corporate value and achieve sustainable growth. In the power generation business, Sumitomo Corporation promotes an asset-turnover-based business model that combines the development and divestment of assets while taking market characteristics into account. This transaction is positioned as one of the initiatives undertaken as part of that strategy.

Sumitomo Corporation will remain involved in the business as a shareholder holding a 15% stake in ABPL. Working closely with its partners and leveraging each party's expertise and strengths, Sumitomo Corporation will contribute to the stable operation of ABPL and to the further development of Thailand's industrial sector through a reliable supply of electricity.
The gain or loss associated with this transaction has already been incorporated into Sumitomo Corporation's full-year earnings forecast for fiscal year 2026 announced at the beginning of the fiscal year.

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