Note: The following is an English translation of the Japanese-language originalApril 1, 2022
Japan Petroleum Exploration Co., Ltd.
Tel: +81-3-6268-7110 (Media Relations)
https://www.japex.co.jp/en/contact/

New Sponsors Participate in Abashiri Biomass Power Generation ProjectJapan Petroleum Exploration Co., Ltd. (JAPEX, Head Office: Chiyoda-ku, Tokyo, Representative Directorand President: FUJITA Masahiro) announced that new three sponsors, MITSUBISHI GAS CHEMICALCOMPANY, INC., SMFL MIRAI Partners Company, Limited, and TOKYO ENERGY & SYSTEMS INC.,
have completed necessary process for their participation in the biomass power generation project (hereinafter“the project”), mainly the development of the 2nd and 3rd of Abashiri biomass power plants (hereinafter “thepower plants”) on March 31, 2022.
The project was originally launched by WIND-SMILE Co., Ltd. (WINS), which mainly engaged in thedevelopment and design, sales, construction, and operation and management of natural energy power
generation systems. Currently, the project is under development since September 2020 by the two special
purpose companies for the power plants (hereinafter “the SPCs”), which is to use 100% domestic wood chips
as fuel made by woods in Hokkaido. In September 2021, JAPEX and Nippon Paper Lumber Co., Ltd.
participated in the project in line with the capital increase of the SPCs. Besides, the three new sponsors
participated in the project by purchasing a part of our share at this time.
Each of the power plants has an output scale of 9,900kW (total of 19,800kW), and its construction works
are proceeding by WINS with the aim of the commercial operation commencement in August 2022 for the 2nd
plant and December 2022 for the 3rd plant. The sponsors, including new three ones, will play their roles andsupport the SPCs’ works. JAPEX has been entrusted the asset management work through Japex Green
Energy Co., Ltd. (JGE, 100% subsidiary). Furthermore, we will transfer the consignment contract in theperformance management, a part of the asset management works, to TOKYO ENERGY & SYSTEMS INC.,
one of the new sponsors.
Please refer the appendix for the outline of the project such as the power plants and the SPCs, including its
new investment ratio with new sponsors.
JAPEX, with the SPCs and sponsors, will contribute to expanding the use of electricity derived fromrenewable energy sources with low environmental impact and developing local economies, with theunderstanding and support from local stakeholders.

Note) * The performance management work is such as data confirmations of power plant availability, power generation, andoperation status of generation facilities and related equipment as well as monitoring and advices to safety and quality
management status for keeping good operations of the plants<Appendix> Outline of the project (as of March 31, 2022)<Reference> Map and Photos of the power plant (as of the end of March 2022)
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Appendix Outline of the project (as of March 31, 2022)
1. Outline of the power plants
NameAbashiri Biomass 2nd Power Plant/ Abashiri Biomass 3rd Power Plant

Plant Site

4-3 (2nd Plant)/4-1 (3rd Plant), Notoro-minato town, Abashiri city, Hokkaido

Land Area

2nd Plant: 23,743m3 / 3rd Plant: 23,162m3

Generation
MethodOutput Scale

Steam power

Generation
Fuel
Offtaker

100% domestic wood chips made by woods in Hokkaido: 100%

Unit Sales
Price
Start ofConstruction
Operation
Commencement
Business
EntityEPC
AssetManagement
Fuel
Procurement
O&M

2nd Plant/3rd Plant each: 9,900kW (total of 19,800kW)

Hokkaido Electric Power Network, Inc.
Fixed price by FIT for 20 years, approx. 30JPY/kWh of weighted average(Unutilized Wood 32JPY/kWh: approx. 75%, General Wood 24JPY/kWh: approx. 25%)
2nd Plant: September 2020 / 3rd Plant: May 2021
2nd Plant: August 2022* (planned) / 3rd Plant: December 2022 (planned)
2nd Plant: Abashiri Biomass Power 2 LLC.
3rd Plant: Abashiri Biomass Power 3 LLC.
WIND-SMILE Co., Ltd.
Japex Green Energy Co., Ltd (100% subsidiary of JAPEX)TOKYO ENERGY & SYSTEMS INC. (in charge of the performance management work)
Nippon Paper Lumber Co., Ltd., WIND-SMILE Co., Ltd.
WOOD SMILE LLC (100% subsidiary of WINS)

Note) Changed the planned schedule of commercial operation commencement from May 2022 to August 2022, due to affections of
COVID-19 disasters and others.

2. Outline of the two SPCs
CompanyName

2nd Plant: Abashiri Biomass Power 2 LLC.
3rd Plant: Abashiri Biomass Power 3 LLC.

Head Office3-3-2, Notoro-minato town, Abashiri city, Hokkaido

Representative
Sponsors*(Investment Ratio)

Representative Partner: Japan Petroleum Exploration Co., Ltd.
Job Executer: ISHII Yoshitaka, Representative Director, Executive Vice President
Japan Petroleum Exploration Co., Ltd. (JAPEX)MITSUBISHI GAS CHEMICAL COMPANY, INC.
SMFL MIRAI Partners Company, Limited
TOKYO ENERGY & SYSTEMS INC.
WIND-SMILE Co., Ltd. (WINS)
Nippon Paper Lumber Co., Ltd. (NPL)

33.8%
33.4% (New sponsor)
20.0% (New sponsor)
7.0% (New sponsor)
5.1%
0.7%

Note) * Reference: Investment ratio before participating in the new three sponsors was JAPEX94.3%, WINDS5.0% and NPL0.7%.

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<Reference>
Map around the Power Plants

Notoro Industry Complex

Photos of Plants Site (as of the end of March 2022)(2nd plant)(3rd plant)(Bird View of the Plants Site)

2nd Power Plant

3rd Power Plant###3/3