On December 7, 2022, ITOCHU Corporation (“ITOCHU”) announced that it agreed with EQP COÖPERATIEF U.A. (“EQP”) to acquire 49.6 percent shares of 9404-5515 Québec Inc. (“Canadian SPC”), an investment management company that owns 15 percent of shares of both ArcelorMittal Mining Canada G.P. (“AMMC”) and ArcelorMittal Infrastructure Canada G.P. (“AMIC”), through IMEA CANADA INC. (“IMEA Canada”), a wholly-owned subsidiary of ITOCHU Minerals & Energy of Australia Pty Ltd (“IMEA”), a wholly-owned subsidiary of ITOCHU.

In line with the agreement, ITOCHU decided to increase the capital of IMEA Canada from US$14,000,100 to US$560,000,100 to acquire the shares of Canadian SPC, and announced that IMEA Canada would become a specified subsidiary of ITOCHU.