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PRESS RELEASE

Pratt & Whitney and IHI Sign Contract for Japan F135 Engines and Industrial Participation

TOKYO, Japan, Wednesday, November 6, 2013

IHI Corporation has signed a contract with Pratt & Whitney, a division of United Technologies Corporation (NYSE: UTX), to qualify components for the Japanese fleet of F135 engines that power the fifth generation F-35 Lightning II fighter aircraft.

Pratt & Whitney and IHI are also working on a series of industrial participation stand-up contracts for additional F135 capability and in-country F135 final assembly.

"Pratt & Whitney is proud of our long history of working together with IHI on military engines, starting with the F100 engine for the JASDF F-15 fleet more than 30 years ago," said Bennett Croswell, president, Pratt & Whitney Military Engines. "We have tremendous respect for the high-quality of work that IHI is known for, and we look forward to continuing our relationship for many years to come."

The Japan Ministry of Defense announced its selection of the F-35A as the JASDF next generation aircraft on Dec. 19, 2011, following the F-X competitive bid process. Japan selected the F-35A conventional takeoff and landing variant of the Lightning II through the U.S. Foreign Military Sales process. Following the announcement, the Japan Ministry of Defense selected IHI Corporation as the prime engine contractor for F135 engine industrial participation.

The F-35 was designed and built to counter the most advanced airborne and ground-based threats - exactly the air defense environment that Japan faces. The F-35 possesses fifth generation capabilities that are not found on legacy fourth generation fighters: very low observable stealth coupled with full fighter performance, advanced sensors and sensor fusion, network-enabled operations and advanced sustainment. These attributes enable the F-35 to operate and survive in high threat environments, which will provide Japan with strong conventional deterrence and promote stability in the region.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units and small turbojet propulsion products. United Technologies Corporation, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and building industries. To learn more about UTC, visit the website or follow the company on Twitter: @UTC.

IHI is the primary contractor and manufacturer for the aircraft engines used by the Japan Ministry of Defense, and participates in international collaborative projects that develop and supply various market segments, from super large to small engines for civilian aircraft.

This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in government procurement priorities and practices, budget plans and availability of funding, and in the number of aircraft to be built; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings.

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Photo Credit

IHI Corp.

Photo Captions

Photo 1: Bennett Croswell, president, Pratt & Whitney Military Engines, and Tsugio Mitsuoka, managing executive officer and president, Aero-Engine & Space Operations, IHI Corp., finalize an industrial participation agreement for work on the fifth generation F135 engine. With the agreement, IHI becomes the first Japanese company participating in production of the F-35 Lightning II fighter aircraft.

Photo 2: Pictured from left to right are Michael Wright, director, Japan Military Programs (P&W); John Amaral - Japan country manager, Business Development, Military Engines (P&W); Masahiko Kono, deputy general manager, F-35 Project Team, Ship & Aerospace Division, Mitsubishi Corporation; Shigenori Imaizumi, general manager, Defense & Aerospace, Mitsubishi Corporation; Kenneth Kearl manager, Business Development, Industrial Participation, Military Engines (P&W); Tyler Evans, international vice president, Business Development, Military Engines (P&W); Gen. Carrol Chandler, vice president, Business Development & Military Aftermarket Services (P&W); Bennett Croswell, president, Military Engines (P&W); Tsugio Mitsuoka, managing executive officer and president, Aero-Engine & Space Operations, IHI Corporation (IHI); Toshinori Sekido, board director, Aero-Engine, Space and Defense Business Domain & Corporate Business Development, IHI Corporation (IHI); Tomoharu Shikina, vice president Aero-Engine & Space Operations, IHI Corporation (IHI); Masataka Ikeyma, division director, Defense Systems Division, IHI Corporation (IHI); Yukinobu Eguchi - deputy division director, Defense Systems Division, IHI Corporation (IHI).