Regarding Participation in Investment in Libra LLC

Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. (Headquarters: Minato-ku, Tokyo; President: Keiichi Hamano; hereinafter "the Company") announced today that it has participated in an investment in Libra LLC (hereinafter "Libra"), which is engaged in the development, ownership, and operation of grid-connected power storage facilities at multiple locations, with Tokyu Fudosan Corporation (Headquarters: Shibuya-ku, Tokyo; President: Hiroaki Hoshino; hereinafter "Tokyu Fudosan") serving as the fund manager.

Libra was jointly funded by eight domestic companies, including the Company and Sumitomo Mitsui Trust Bank, Limited (Headquarters: Chiyoda-ku, Tokyo; President: Gakutomo Yonezawa; hereinafter "Sumitomo Mitsui Trust Bank"), and will proceed with promoting six special high-voltage grid-connected power storage projects, with a total project cost of approximately 30 billion yen and an output of approximately 174 MW, aiming for sequential operation start from fiscal year 2027 onwards.

With the expansion of renewable energy introduction, challenges in responding to supply-demand fluctuations and ensuring the stability of the power grid have arisen. Grid-connected power storage facilities are increasing in importance as adjustment power sources to address these challenges. Grid-connected power storage facilities contribute to the stabilization of the power grid by discharging during periods of high electricity demand or when power generation is insufficient, thereby suppressing supply-demand fluctuations. The Company, leveraging Tokyu Fudosan's high project development capabilities and the knowledge and know-how gained through collaboration with eight investors, will continue to contribute to the widespread adoption of grid-connected power storage facilities.

Moving forward, the Company will continue to provide solutions that maximize its non-bank functions toward the realization of a decarbonized society.

**[Outline of Libra LLC]**

| Company Name | Libra LLC | |---|---| | Representative | General Incorporated Association Libra Executive Officer Hiroyuki Tanaka | | Output Capacity (MW) · Total Project Cost | 174MW · Approx. 30 billion yen | | Location | Hokkaido, Aomori, Miyagi, Fukushima, Mie, Fukuoka Prefectures | | Investors | Tokyu Fudosan Corporation, IBeeT Inc., Fuyo General Lease Co., Ltd., Nomura Real Estate Development Co., Ltd., Maeda Corporation, Nittetsu Kowa Real Estate Co., Ltd., Sumitomo Mitsui Trust Bank, Limited, Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. | | Project Management | Tokyu Fudosan Corporation, ITOCHU Corporation | | Battery Procurement | ITOCHU Corporation | | Asset Management | Looop Energy Inc. | | O&M (Planned) | Looop Energy Inc., ITOCHU Corporation |