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Penta-Ocean Construction Co., Ltd.

Tokyo, Japan - July 3, 2024 - Penta-Ocean Construction Co., Ltd. (president Takuzo Shimizu) hereby announces that we have recently concluded a loan agreement (hereinafter referred to as the “Agreement”) with Mizuho Bank, Ltd. (president & CEO Masahiko Kato), under the framework of “Mizuho Eco Finance”.

Pursuing its objective of promoting the transition to a decarbonized society, “Mizuho Eco Finance” is a program engineered to use environment-assessment models which incorporate globally-recognized environmental certifications and accreditations. Developed by Mizuho Research and Technologies Ltd., the models determine scores of potential borrowers based on their environmental initiatives and green-related indexes, and Mizuho Bank Ltd. offers loans to those who have achieved a score in excess of a certain threshold.

In this Agreement, we were evaluated as having met a high standard in the indexes used in the assessment models and received the highest rating on a five-point scale. The evaluation recognized our initiatives in expressing support for the recommendations of the “Task Force on Climate-related Financial Disclosures (hereinafter, TCFD) in May 2022, in obtaining an official validation from the Science Based Targets Initiative for our CO₂ emission reduction targets up to FY 2030 as aligned with 1.5 degrees Celsius trajectory, in setting the 2050 carbon neutrality targets in Scope 1+2 emissions, as well as in appropriately disclosing greenhouse gas emission of our entire supply chain.

We believe that responding to climate change issues is one of our most important management issues and will undertake initiatives to reduce CO₂ emissions from our construction activities. By promoting the construction of offshore wind power facilities and zero energy buildings (ZEBs), we will stive to achieve carbon neutrality by 2050 through our core business. Furthermore, we will promote proactive information disclosure based on TCFD recommendations.