13. 2. 2. Marubeni Awarded Orders for Three Combined Cycle Power Plant Projects in Korea News Release Marubeni Corporation

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Marubeni Awarded Orders for Three Combined Cycle Power Plant Projects in

Korea

Marubeni Corporation

Mar. 22, 2012

Marubeni Corporation (Marubeni), in partnership with Mitsubishi Heavy Industries, Ltd. (MHI), has beenjointly awarded orders for three large-scale combined cycle electric power projects in Korea; the 2ndPyeongtaek Combined Cycle Power Plant, the Dongducheon Combined Cycle Power Plant and the Ulsan4 Combined Cycle Power Plant. They will have a collective power generation capacity of around 3,800MW.

The 2nd Pyeongtaek power plant will have generation capacity of nearly 950 MW and is being built inGyeonggi-do by Korea Western Power Co., Ltd. (KOWEPO), a subsidiary of Korea Electric PowerCorporation (KEPCO). Marubeni has received an order, jointly with MHI, for two M501J (J-Series) gasturbines(*), one steam turbine and generators for the plant.

For the near 1,900 MW Dongducheon power plant, Marubeni received an order, also jointly with MHI,consisting of four J-Series gas turbines, two steam turbines and generators. Dongducheon Dream PowerCo., Ltd., an IPP jointly established by KOWEPO, Samsung C&T Corporation and Hyundai DevelopmentCompany, is building the plant in Gyeonggi-do. Marubeni and MHI will deliver the core components toSamsung C&T and Hyundai Development.

For the near 950 MW Ulsan 4 power plant, operated by the Korea East-West Power Company (EWP), asubsidiary of KEPCO, in Ulsan Metropolitan City, Marubeni received an order jointly with MHI and DaelimIndustrial Co, Ltd. for engineering, procurement, delivery of the equipment, including two J-Series gasturbines, a steam turbine and generators, and the construction and installation work, on a full turn-keybasis.

In these projects, Marubeni believes that the extensive experience of Marubeni and MHI, combined withtechnical reliability as well as the high thermal and economic efficiency of the equipment, are highlyappreciated by the Korean power sector and led to the successful receipt of these orders.

Previously, in 2010, Marubeni and MHI jointly received an order for two sets of steam turbines andgenerators, 1,000MW each, for ultra-super-critical-pressure coal-fired power generation units for unit #9and #10 of EWPs Dang Jin Coal Fired Power Plant. These new orders are the first received from theKorean power sector since then.

The Korean power sector has shown steady growth with many new and large scale projects underplanning and development. Marubeni, with its strong presence in the market, intends to actively pursuefurther opportunities in various power plant projects together with MHI.

(*) The M501J Gas Turbine is a 60 hertz J-Series gas turbine developed by MHI, incorporating proprietarytechnologies. This new turbine is able to withstand temperatures 100 degrees higher than the 1,500C-class G-Series gas turbine, which was the top-of-the-line until now. This gas turbine achieves a ratedpower output of about 327MW and an unprecedented 470MW in gas turbine combined-cycle (GTCC)output (1 gas turbine - 1 heat recovery steam generator - 1 steam turbine combination). This gas turbinehas also achieved over 60% in gross thermal efficiency, the world's highest level in GTCC applications.The M501J gas turbine will significantly contribute to easing environmental burdens, as its GTCC powergeneration will be able to achieve CO2 emissions approximately 50% lower than with conventional coal-fired power generation.

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