三井海洋開発（6269） – Summary of Financial Results for the first quarter 2022

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. May 11, 2022 Consolidated Financial Results for the Three Months Ended March 31, 2022 (IFRS) Tokyo Stock Exchange 6269 http://www.modec.com Takeshi Kanamori, Representative Director, President & CEO Yasuhiro Takano, Director, Executive Managing Officer +81-3-5290-1200 Company name: MODEC, INC. Listing: Securities code: URL: Representative: Inquiries: Telephone: Scheduled date to file quarterly securities report: Scheduled date to commence dividend payments: Preparation of supplementary material on quarterly financial results: Yes Holding of quarterly financial results briefing: May 12, 2022 － None % – – % – 1. Consolidated financial results for the three months ended March 31, 2022 (from January 1, 2022 to March 31, 2022) (1) Consolidated operating results (Percentages indicate year-on-year changes.) (Yen amounts are rounded down to millions unless otherwise noted.) Revenue Operating profit Profit before tax Profit Three months ended million yen % million yen March 31, 2022 March 31, 2021 81,310 (34.8) 124,665 – (1,557) 3,469 million yen (2,488) 5,589 % – – million yen (2,042) 5,293 % – – Profit attributable to owners of parent Total comprehensive income Basic earnings per share Diluted earnings per share Three months ended million yen million yen (2,039) 5,221 % – – 8,955 (34.3) 13,637 March 31, 2022 March 31, 2021 yen (36.18) 92.65 yen (36.18) 92.61 (2) Consolidated financial position Total assets Total equity Equity attributable to owners of parent Ratio of equity attributable to owners of parent to total assets As of March 31, 2022 million yen 405,955 million yen 76,826 million yen 74,153 % 18.3 393,971 December 31, 2021 15.5 Note: The original condensed consolidated financial statements of MODEC, INC. and its subsidiaries (hereinafter “the Company”) for the three months ended March 31, 2022 and 2021 and for the year ended December 31, 2021 are presented in US dollars on page 4 of this material. For reference, the amount presented for consolidated operating results and consolidated financial position are converted into Japanese yen respectively as follows. March 31, 2022 March 31, 2021 December 31, 2021 1 US dollar =122.41 Japanese yen at the TTM rate of Sumitomo Mitsui Banking Corporation as of March 31, 2022. 1 US dollar =110.71 Japanese yen at the TTM rate of Sumitomo Mitsui Banking Corporation as of March 31, 2021. 1 US dollar =115.01 Japanese yen at the TTM rate of Sumitomo Mitsui Banking Corporation as of December 30, 63,802 61,247 2021. The percentage indicating year-on-year changes is calculated on Japanese yen basis presented above. 2. Cash dividends Year ended December 31, 2021 Year ended December 31, 2022 First quarter-end Second quarter-end Third quarter-end Year-end Total Annual dividends per share yen － － yen 15.00 yen － － yen 0.00 － yen 15.00 － Year ending December 31, 2022 (Forecast) Note: Revisions to the forecast of cash dividends most recently announced: None － 3. Earnings forecast for FY2022 (January 1, 2022 – December 31, 2022) Revenue Operating profit Profit before tax Profit (Percentages indicate year-on-year changes.) Profit attributable to owners of parent Basic earnings per share million yen % million yen % million yen % million yen % million yen % yen Full Year 276,024 (38.5) Note: Revisions to the forecast most recently announced: None Note: The original consolidated earnings forecast of the Company is presented in US dollars on page 4 of this material. For reference, the amount presented for the consolidated earnings forecast for the year ending December 31, 2022 is converted into Japanese yen at 115.01 yen, which is at the TTM rate of Sumitomo Mitsui Banking Corporation as of December 30, 2021. 2,530 3,450 2,530 – – – – – 44.89 * Notes (1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None (2) Changes in accounting policies and changes in accounting estimates (i) Changes in accounting policies required by IFRS: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (3) Number of issued shares (ordinary shares) (i) Total number of issued shares at the end of the period (including treasury shares) (ii) Number of treasury shares at the end of the period As of March 31, 2022 As of December 31, 2021 As of March 31, 2022 As of December, 31, 2021 (iii) Average number of shares outstanding during the period Three months ended March 31, 2022 Three months ended March 31, 2021 56,408,000 shares 56,408,000 shares 45,100 shares 45,100 shares 56,362,900 shares 56,353,768 shares * Quarterly financial results are exempt from quarterly review conducted by certified public accountants or an audit corporation. * Proper use of earnings forecasts and other special matters ・The Company adopted International Financial Reporting Standards (hereinafter “IFRS”) from the year ended December 31, 2021 for the consolidated financial statements. Therefore, the financial result for the three months ended March 31, 2021 are also presented in accordance with IFRS. ・Accompanying condensed quarterly consolidated financial statements and selected notes are presented in US ・Earnings forecast and other forward-looking statement included in this material are based on information currently available to the Company and using the assumptions deemed reasonable. Therefore, actual results may significantly differ due to various factors. dollars.