Notice of the Transfer of Shares of a Consolidated Subsidiary and Dissolution of a Joint Venture

UACJ Corporation (HQ: Chiyoda-ku, Tokyo; President and Representative Director: Miyuki Ishihara) has a joint venture, PT. UACJ-Indal Aluminum (HQ: East Java, Indonesia; “UEXIA”), with PT. Indal Investindo (“Indal”) for the manufacture and sale of extruded products. UACJ and Indal have agreed to dissolve their joint business. The joint venture is scheduled for dissolution at the end of June.

1. Background

UEXIA was established to manufacture and sell extruded products for automotive heat exchangers, for which overseas production was increasing. However, upon reconsideration of their business directions given the economic outlook, the two companies have agreed to dissolve the joint venture, with UACJ transferring its shares to the Indal Group. This move is in line with the structural reforms UACJ unveiled on September 30, 2019, in the aim of creating a strong corporate body, as one of its business restructuring efforts.

2. Operations Going Forward

The UACJ Group will transfer all its shareholdings in UEXIA to the Indal Group, which will operate the company.

3. Overview of UEXIA

4. Schedule

Shares to Be Transferred at End June (Planned)

The impact of this transfer on UACJ’s consolidated operating performance will be slight.