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Press release

European Energy A/S has entered into an agreement with Mitsubishi HC Capital Inc., in which Mitsubishi HC Capital Inc. will acquire a 20% stake in European Energy A/S

Jan 19, 2024

With this agreement, European Energy A/S (European Energy) significantly strengthens its capital base and growth potential and brings in Mitsubishi HC Capital Inc. (Mitsubishi HC Capital) as a strategic partner.

The gross proceeds of the deal will provide European Energy a capital injection of approximately EUR 700 million from the issuance of new shares. This equity capital injection will contribute to the continued growth of European Energy.

Mitsubishi HC Capital will subscribe to approximately 72 million new shares in European Energy. Additionally, Mitsubishi HC Capital will purchase around 3 million shares from the three major shareholders in European Energy. This will make Mitsubishi HC Capital the second largest shareholder in European Energy, holding 20% of the share capital and voting rights.

– The partnership with Mitsubishi HC Capital represents a significant milestone for European Energy. Their international presence and strategic mindset are key to boosting our company’s growth, especially with the increasing demand for capital in this industry. This transaction will further enhance our role in the green energy transformation, says Jens Due Olsen, Chair of the Board of Directors at European Energy.

– I am very pleased to welcome Mitsubishi HC Capital as part of our shareholder group. Their strategic focus aligns perfectly with our current strategy and goal of expanding European Energy’s impact in the fight against climate change. The capital injection more than triples our equity, offering us increased opportunities to accelerate our business, says Knud Erik Andersen, CEO and co-founder of European Energy.

– We are most delightful to enter into this strategic partnership with European Energy. Mitsubishi HC Capital finds significant growth potential in European Energy and room to create synergies. Mitsubishi HC Capital by leveraging our expertise and strengths in the market will work together with European Energy to realize value creation and decarbonization, states Takuji Naruse, Managing Executive Officer and Head of Environment & Energy Business Division of Mitsubishi HC Capital.

As part of the transaction, Mitsubishi HC Capital will collaborate actively towards the value creation and strategic growth of European Energy, including through representation on the board of directors.

Closing of the transaction is subject to the fulfillment of certain conditions, including regulatory approvals. It is expected to be completed in the first half of 2024.

FIH Partners and Kromann Reumert are advising European Energy on the transaction as financial and legal advisors, respectively.

About European Energy

Founded in 2004 in Denmark, European Energy is a leading developer of renewable energy in Europe, with activities in the entire value chain. The company is present in 28 countries, with a development pipeline exceeding 60 GW. European Energy is a pioneer in Power-to-X (PTX) innovation and is currently constructing the world’s largest e-methanol facility, maintaining a significant PTX project pipeline.

About Mitsubishi HC Capital Group’s Business

Mitsubishi HC Capital Group (the Group) globally operates and develops a variety of business with seven business segments; Customer Solutions, Global Business, Environment & Energy, Aviation, Logistics, Real Estate and Mobility. In Environment & Energy, the Group is already one of the leading players of renewable energy in Japan and has been investing in renewables in Europe and North America since 2017. It intends to strengthen and make the renewable energy business a growth driver for the group by actively expanding its presence overseas.

Mitsubishi HC Capital Inc. (TSE, NSE: 8593), incorporated in 1971, has achieved a solid and stable business growth backed by its strong financial position and long-term credibility.

Please visit https://www.mitsubishi-hc-capital.com/english/ for more information.

Investor and media enquiries

Investor Relations: Martin Graa Jennum, Director and Head of Corporate Finance, FP&A and Investor Relations: mgj@europeanenergy.com, +45 2114 6107 or investor.relations@europeanenergy.com.

Press: Ming Ou Lü, PR Manager: miol@europeanenergy.com, +45 3126 9376.