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MHI to Conclude of Absorption-type Company Split Agreement on Transfer of Air-Conditioning & Refrigeration Business to Wholly Owned Subsidiary

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Tokyo, May 17, 2016 - As announced on February 4, Mitsubishi Heavy Industries, Ltd. (MHI) will be transferring its air-conditioning & refrigeration (AC&R) business to MHI Air-conditioning & Refrigeration, Co., Ltd. (MHI-AC&R), a wholly owned subsidiary. Today, MHI took the formal decision to conclude an absorption-type company split agreement with MHI-AC&R enabling the business transfer. As the company split involves the transfer of operations to a subsidiary, some disclosure items and details have been omitted from the information provided below.

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Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.