March 29, 2023

Mitsubishi Materials Corporation
Exurban Limited

Mitsubishi Materials Corporation and Exurban Join Forces

Mitsubishi Materials Corporation (MMC) and Exurban today announce a new strategic alliance. As part of the agreement MMC will become a major investor in Exurban and join its Board.

Exurban and MMC share a commitment to providing circular economy solutions to the growing challenge of electronic and electrical scrap (E-scrap). Exurban is developing the world's first zero waste recycling facility, specifically designed to process complex metal waste regionally. MMC will be an important partner to the Exurban Group as it moves towards the financing, construction and operation of its first proposed facility in the United States.

Mitsubishi Materials Corporation
Stefan Boel, Chairman of Exurban

Welcoming today's announcement, Stefan Boel, Chairman of Exurban said:
"Today's announcement represents a major vote of confidence in our business. Mitsubishi Materials Corporation is a world leader in recycling. We agree on the scale of the global challenge of E-scrap and share a commitment to providing innovative regional solutions."

Katsuyoshi Isaji, Managing Executive Officer, and President Metals Company MMC

Katsuyoshi Isaji, Managing Executive Officer, and President Metals Company MMC responded:
"We would like to contribute to Exurban with our technical expertise in technology for non-ferrous metals and E-scrap. We are interested in expanding our business with Exurban in the US, Asia, Europe and other regions worldwide. We think we have a lot to share in know-how and expertise for our common goals."

Exurban is well advanced in developing its first zero waste, purpose designed recycling plant in Indiana, USA. MMC has committed to expanding its capabilities in the treatment of E-scrap in its Medium-Term Management Strategy. Beyond this it plans to expand its operations around the world. Both companies share the ambition to provide a global solution to the growing industrial and environmental challenge of E-scrap and recognize the additional opportunities presented by working together.

<Corporate Information>

Mitsubishi Materials Corporation
(1) Address
3-2-3 Marunouchi, Chiyoda-ku, Tokyo
(2) Representative
Naoki Ono, Chief Executive Officer
(3) Description of business
Copper & copper alloy business, Electronic materials & components business, Metalworking solutions business, Metals business, Environment & energy business
(4) Capital
119,457 million yen
(5) Established
(6) URL
Exurban Limited
(1) Address
London, England
(2) Representative
Stefan Boel, Non-Executive Chairman
(3) Description of business
E-scrap Recycling
(4) Established
(5) URL

<Contact details for inquiries>

Mitsubishi Materials Corporation
Corporate Communications Dept., Management Strategy Div.,
Strategic Headquarters :

Exurban Limited
Peter Morgan
Director of Communications