Press Release

Operations set to commence at Mitsubishi’s newest facility, Savannah Machinery Works

Mitsubishi Power Systems Americas, Inc. (MPSA) announced this week that development of the new
manufacturing facility in Pooler, Georgia has reached its first major milestone. Construction of the Gas
Turbine Component Manufacturing center has been completed and initial operations have commenced.
With the transition of employees and equipment already underway, the company anticipates reaching
full production of gas turbine combustor components early next year.

In September of 2009, Mitsubishi and Georgia Governor Sonny Perdue, together with several state and
local officials announced Mitsubishi’s plan to develop the renowned Pooler “Megasite”. Mitsubishi
unveiled an aggressive development schedule to build The Savannah Machinery Works, a
comprehensive manufacturing and service facility that will provide critical components and services for
some of the largest, most advanced gas and steam turbines in the world. Initial plans had Mitsubishi
reaching this first milestone in December 2010.

With the completion of the first phase of development, Mitsubishi expects to have approximately 80
employees working at the facility by year’s end. In the 128,000 square foot manufacturing facility,
Mitsubishi will start production of combustion components for its fleet of advanced technology gas
turbines, some of which will operate just hours away at Georgia Power’s new McDonough Combined
Cycle Power Plant near Smyrna, GA. Construction of the second phase, a 70,000 square foot service and
repair facility, has already begun, and Mitsubishi anticipates completing the project ahead of schedule.
This will enable Mitsubishi to service valves, turbine and generator rotors, and other large components
for power plants throughout North and South America. Also included in Phase II is a high speed balance
bunker ultimately capable of balancing Mitsubishi’s largest 1700 MW nuclear steam turbine and
generator rotors.

Engineering plans are being finalized for the third phase of development which will center on the
manufacture and assembly of Mitsubishi gas turbines. The company will also invest over $2 million in
training equipment for the site to support both field service and assembly training. Phase II & III will also
include upgrades for fossil and nuclear steam turbines. Upon completion, the total facility will employ
approximately 500 people in 500,000 square feet of facilities.

About Mitsubishi Power Systems Americas, Inc.
Mitsubishi Power Systems Americas, Inc. (MPSA) was established in 2001 and is headquartered in Lake
Mary, Florida with key operations in Orlando, FL, Newport Beach, CA, Houston, TX, and Juarez, Mexico.
MPSA provides a wide variety of products and services for the electric power generation industry
including gas, steam, wind, geothermal and hydroelectric turbines, boilers, selective catalytic reduction
systems and solar energy. The company is a subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI), a
diversified Fortune “Global 150” company with more than $30 billion in annual revenues and 40,000
employees worldwide. MHI is an international leader in the design and supply of energy, aerospace,
machinery, transportation, and environmental systems and equipment.