Conclusion of MOU at UAE-Japan Business Forum with Emirates Global Aluminium

July 21, 2023

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has signed a MOU regarding aluminium production growth and sustainable aluminium supply to the global market, decarbonization, etc. with Emirates Global Aluminium PJSC (headquartered in Abu Dhabi, UAE; Abdulnasser Bin Kalban, CEO; hereinafter "EGA"), a world-leading aluminum smelting company.

MOU exchange ceremony held in Abu Dhabi, UAE on July 17, 2023 in the presence of Prime Minister Fumio Kishida

ITOCHU has sold high-value-added aluminum products manufactured by EGA to customers in Japan and mainly Japanese companies in Asia, North America, and Europe for over 40 years.

Amid the globally accelerated movement toward carbon neutrality, the production of high value-added products that respond to decarbonization and market needs is positioned as an urgent issue in the aluminum industry and also in other non-ferrous metal industries.

ITOCHU sets "Enhancing our contribution to and engagement with the SDGs through business activities" and "realizing business transformation by shifting to a market-oriented perspective" as pillars of its Basic Policies in the Medium-term Management Plan Brand-new Deal 2023. Through the conclusion of this MOU, we will work with EGA to promote the decarbonization ahead of other countries and accelerate the production of high-value-added products that respond to market needs.

Emirates Global Aluminium

Parent Company name Emirates Global Aluminium PJSC
Location Al Taweelah, Abu Dhabi and Jebal Ali, Dubai in United Arab Emirates and Kamsar, Guinea
Established in 1975
Representative Abdulnasser Bin Kalban, CEO
Business Mining of bauxite, refining of alumina and smelting of aluminum and production of aluminum alloy products
Ultimate Shareholders Mubadala Investment Company (Sovereign investment fund of Abu Dhabi)
Investment Corporation of Dubai (Sovereign investment fund of Dubai)