Consolidated Financial Results for the Nine Months ended September 30, 2021 [Japanese GAAP]
November 5, 2021
Note: The following report is an English translation of the Japanese-language original.
Company name

: INPEX CORPORATION

Code number
Representative
Contact person: 1605
URL https://www.inpex.co.jp: Takayuki Ueda, President: Munehiro Hosono, General Manager, Corporate Communications Unit

Stock Exchange on which the Company is listed

TEL+81-3-5572-0233
Scheduled date of filing Quarterly Financial Report: Tokyo Stock Exchange: November 8, 2021:－

Scheduled date of payment of cash dividends
Preparation of supplementary explanatory materials
Meeting of quarterly financial results presentation: Yes: None(Amounts less than one million yen are rounded off)
1. Consolidated Financial Results for the Nine Months ended September 30, 2021 (January 1, 2021-September 30, 2021)(1) Consolidated operating results(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales

Operating income

Net income attributableto owners of parent

Ordinary income

For the nine months ended

Millions of Yen%

Millions of Yen%

Millions of Yen%

Millions of Yen%

September 30, 2021

849,214402,376

114.7－

137,722－592,798110.3－

427,269

September 30, 2020

43.3－

(125,427)－

191,298

199,000(Note): Consolidated comprehensive income: for the nine months ended September 30, 2021, ¥332,138 million; (－%)
for the nine months ended September 30, 2020, ¥(235,531) million; (－%)

Net income pershare-basic

Net income pershare-diluted

For the nine months ended

Yen

Yen

September 30, 2021

94.32

September 30, 2020

(85.90)－－(Note): The Company changed its consolidated fiscal year-end from March 31 to December 31, effective from the year ended December 31, 2019. As a result, theperiod of the 3rd quarter of the year ended December 31, 2020 (January 1, 2020 to September 30, 2020) differs from the period of the 3rd quarter of theyear ended December 31, 2019 (April 1, 2019 to December 31, 2019). Therefore, percentage data for changes between the 3rd quarter of the year ended
December 31, 2019 and the 3rd quarter of the year ended December 31, 2020 have not been provided.

(2) Consolidated financial position
Total assets
As of September 30, 2021
As of December 31, 2020

Net assets

Net assets excluding non-controllinginterests as a percentage of total assets

Millions of Yen

Millions of Yen%

5,030,005
4,634,518

3,286,091
3,001,339

60.2
59.0

(Reference): Net assets excluding non-controlling interests: as of September 30, 2021, ¥3,028,151 million
as of December 31, 2020, ¥2,736,541 million

2. Dividends
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
December 31, 2020
For the year ending
December 31, 2021

At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

－

12.00

－

12.00

24.00

－

20.00

－

20.00

40.00

For the year ending
December 31, 2021
(forecast)(Note): 1. Changes in projected dividends for the year ending December 31, 2021 from the previous forecast: None
2. "Dividends" as stated above refer to common stock. For information regarding Class A stock (not listed), please refer to Exhibit "Dividends of Class A

stock".

3. Forecasted Consolidated Financial Results for the year ending December 31, 2021 (January 1, 2021-December 31, 2021)(Figures in % represent the changes from the corresponding period of the previous fiscal year)

Net sales
Millions of Yen

For the year ending
December 31, 2021

1,220,000

Operating income% Millions of Yen

58.2

Ordinary income% Millions of Yen

588,000 136.6

Net income
attributable toowners of parent% Millions of Yen

611,000 137.4

185,000

Net income
per share

%

Yen

－

126.69(Note): 1. Changes in forecasted consolidated financial results for the year ending December 31, 2021 from the previous forecast: Yes
2. The effect of the acquisition of own shares decided at the meeting of the Board of Directors held on November 5, 2021 is not included in thecalculation of "Net income per share". Regarding more details of the acquisition of own shares, please refer to "Ⅱ. Acquisition of the Company's Own

Shares" of "Subsequent events" on page 10.

Notes(1) Significant changes in scope of consolidation(Changes in the specified subsidiaries during the period due to change in scope of consolidation): None(2) Adoption of accounting treatments which are exceptional for quarterly consolidated financial statements: None(3) Changes in accounting policies, accounting estimates and restatement of corrections
1. Changes in accounting policies resulting from the revision of the accounting standards and other regulations: None2. Other changes in accounting policies: None3. Changes in accounting estimates
4. Restatement of corrections: None: None(4) Number of shares issued (Common stock)
1. Number of shares issued at the end of the period(including treasury stock):
2. Number of treasury stock at the end of the period:
3. Average number of shares:

1,462,323,600 shares as of September 30, 2021
1,462,323,600 shares as of December 31, 2020
2,116,093 shares as of September 30, 2021
2,119,069 shares as of December 31, 2020
1,460,206,019 shares for the nine months ended September 30, 2021
1,460,203,487 shares for the nine months ended September 30, 2020

(Note): The shares held by "the Board Incentive Plan Trust" are included in number of treasury stock at end of period.
(As of September 30, 2021: 149,593 shares As of December 31, 2020: 152,569 shares)*This quarterly earnings report is not subject to audit by certified public accountants or audit firms.
*Explanation regarding the appropriate use of estimated consolidated financial results
The aforementioned forecasts are based on the currently available information and contain many uncertainties. The final results might be significantly different
from the aforementioned forecasts due to changes in business conditions including oil and natural gas price levels, production and sales plans, project
development schedules, government regulations and financial and tax schemes. Regarding the forecasts, please refer to "1. (3) Explanation regarding futureforecast information such as Forecasts for Consolidated Financial Results" on page 3.

Exhibit:
Dividends of Class A stock
Cash dividends per share
At 1st quarter end At 2nd quarter end At 3rd quarter end
For the year ended
December 31, 2020
For the year ending
December 31, 2021
For the year ending
December 31, 2021
(forecast)At fiscal year end

Total

Yen

Yen

Yen

Yen

Yen

－

4,800.00－

4,800.00

9,600.00－

8,000.00－

8,000.00

16,000.00(Note): The Company conducted a stock split at a ratio of 1:400 of common stock effective October 1, 2013. However, for Class A stock (not listed), no stock

split was implemented. The article specifying that dividends of Class A stock are equivalent to dividends of common stock prior to the stock split isincluded in the Articles of Incorporation.

Index of the Attachments
1. Qualitative Information / Financial Statements …………………………………………………………………………………
(1) Explanation on Consolidated Financial Results ………………………………………………………………………………
(2) Explanation on Consolidated Financial Position ……………………………………………………………………………

2
23(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results …………………
2. Consolidated Financial Statements and Principal Notes ………………………………………………………………………

3
4(1) Consolidated Balance Sheet …………………………………………………………………………………………………

4(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ………………………………
Consolidated Statement of Income …………………………………………………………………………………………
Consolidated Statement of Comprehensive Income …..……………………………………………………………………
(3) Notes to Consolidated Financial Statements …………………………………………………………………………………

6
6
7
8

(Conditions or events that indicate there could be substantial doubt about
the Company's ability to continue as a going concern) ……………………………………………………………………
(Note on significant changes in shareholders' equity) ………………………………………………………………………
(Segment information) ………………………………………………………………………………………………………

8
8
8(Subsequent events) …………………………………………………………………………………………………………
3. Supplementary Information ……………………………………………………………………………………………………

9
11(1) Production, Orders Received and Sales Performance ………………………………………………………………………

11

- 1 -

1. Qualitative Information / Financial Statements(1) Explanation on Consolidated Financial Results
Net sales for the nine months ended September 30, 2021 increased by ¥256.4 billion, or 43.3%, to ¥849.2 billion from thecorresponding period of the previous fiscal year due to an increase in sales price of crude oil.
Net sales of crude oil increased by ¥230.9 billion, or 59.2%, to ¥621.3 billion, and net sales of natural gas increased by ¥24.0
billion, or 12.5%, to ¥216.0 billion.
Sales volume of crude oil decreased by 5,067 thousand barrels, or 5.5%, to 87,148 thousand barrels. Sales volume of natural gas
decreased by 4,854 million cf, or 1.4%, to 338,904 million cf. Sales volume of overseas natural gas decreased by 14,431 million cf,
or 5.0%, to 272,865 million cf, and sales volume of domestic natural gas increased by 257 million ㎥, or 17.0%, to 1,770 million ㎥(66,039 million cf).
The average sales price of overseas crude oil increased by US$26.29, or 66.9%, to US$65.59 per barrel. The average sales price ofoverseas natural gas increased by US$0.85, or 23.0%, to US$4.55 per thousand cf, and the average sales price of domestic natural
gas decreased by ¥7.15, or 14.4%, to ¥42.56 per ㎥. The average exchange rate of the Japanese yen against the U.S. dollar on
consolidated net sales depreciated by ¥0.98, or 0.9%, to ¥108.68 per U.S. dollar.
The increase of ¥256.4 billion in net sales was mainly derived from the following factors: regarding net sales of crude oil andnatural gas, a decrease in sales volume pushing sales down of ¥9.6 billion, an increase in unit sales price contributing ¥257.6 billion
to the increase, the depreciation of the Japanese yen against the U.S. dollar contributing ¥6.9 billion to the increase, and an increasein net sales excluding crude oil and natural gas of ¥1.4 billion.
Meanwhile, cost of sales increased by ¥46.1 billion, or 13.6%, to ¥385.5 billion. Exploration expenses decreased by ¥1.9 billion, or
32.1%, to ¥4.0 billion. Selling, general and administrative expenses increased by ¥1.1 billion, or 2.0%, to ¥57.2 billion. As a result,operating income increased by ¥211.0 billion, or 110.3%, to ¥402.3 billion.
Other income increased by ¥22.7 billion, or 55.1%, to ¥63.9 billion due to an increase in interest income and others. Other expenses
increased by ¥5.5 billion, or 16.5%, to ¥39.1 billion. As a result, ordinary income increased by ¥228.2 billion, or 114.7%, to ¥427.2
billion.
Total amount of current income taxes and deferred income taxes increased by ¥170.7 billion, or 132.6%, to ¥299.4 billion, and net
loss attributable to non-controlling interests was ¥9.8 billion. As a result of the above effects, net income attributable to owners ofparent was ¥137.7 billion compared with ¥125.4 billion of net loss attributable to owners of parent for the corresponding period of
the previous fiscal year.
Financial results by segment are as follows:
1) JapanNet sales increased by ¥1.7 billion, or 2.0%, to ¥90.1 billion due to an increase in sales price of crude oil. Operating income
decreased by ¥7.5 billion, or 46.0%, to ¥8.9 billion due to an increase in cost of sales.
2) Asia & Oceania
Net sales increased by ¥70.4 billion, or 42.4%, to ¥236.8 billion due to an increase in sales prices of crude oil and natural gas.
Operating income increased by ¥71.6 billion, or 179.9%, to ¥111.4 billion.
3) Eurasia (Europe & NIS)
Net sales increased by ¥30.5 billion, or 58.3%, to ¥82.8 billion due to an increase in sales price of crude oil. Operating income
increased by ¥16.6 billion, to ¥19.8 billion.
4) Middle East & Africa
Net sales increased by ¥146.7 billion, or 53.4%, to ¥421.3 billion due to a combination effect of an increase in sales price of crude oil
and a decrease in sales volume. Operating income increased by ¥121.5 billion, or 84.3%, to ¥265.6 billion.
5) Americas
Net sales increased by ¥6.9 billion, or 62.4%, to ¥18.0 billion due to a combination effect of an increase in sales price of crude oil
and a decrease in sales volume. Operating income was ¥8.2 billion compared with ¥2.0 billion of operating loss for the corresponding
period of the previous fiscal year.

- 2 -(2) Explanation on Consolidated Financial Position
Total assets as of September 30, 2021 increased by ¥395.4 billion to ¥5,030.0 billion from ¥4,634.5 billion as of December 31,
2020. Current assets increased by ¥145.4 billion to ¥532.4billion due to an increase in accounts receivable-trade and others. Fixed
assets increased by ¥250.0 billion to ¥4,497.5 billion due to increases in tangible fixed assets, investments and other assets andothers.
Meanwhile, total liabilities increased by ¥110.7 billion to ¥1,743.9 billion from ¥1,633.1 billion as of December 31, 2020. Current
liabilities increased by ¥57.0 billion to ¥396.2 billion and long-term liabilities increased by ¥53.7 billion to ¥1,347.6 billion.
Net assets increased by ¥284.7 billion to ¥3,286.0 billion. Total shareholders' equity increased by ¥93.3 billion to ¥2,660.5 billion.
Total accumulated other comprehensive income increased by ¥198.2 billion to ¥367.5 billion and non-controlling interests in net
assets decreased by ¥6.8 billion to ¥257.9 billion.
(3) Explanation regarding future forecast information such as Forecasts for Consolidated Financial Results
The consolidated financial forecasts for the year ending December 31, 2021 have been revised from the previous forecasts
announced on August 10, 2021, taking into consideration factors including the revision of crude oil price assumptions due to the risein crude oil prices and the consolidated financial results for the nine months ended September 30, 2021, exceeding forecasts, etc.
Forecasts for consolidated financial results for the year ending December 31, 2021
(Millions of yen)
Net sales

Operating income

Ordinary income

Net income attributableto owners of parent

Previous Forecasts: A

1,134,000

513,000

545,000

170,000

Revised Forecasts: B

1,220,000

588,000

611,000

185,000

86,00075,00066,00015,000

7.6

14.6

12.1

8.8

Increase (Decrease): B‐A
Percentage change (%)

The above forecasts are calculated based on the following assumptions:
Previous Forecasts
Crude oil price (Brent)

Exchange rate

Revised Forecasts

1st half (actual):

US$ 65.2/bbl

1st half (actual):

US$ 65.2/bbl

2nd half:

US$ 65.0/bbl

2nd half:

US$ 74.1/bbl

Full year average:

US$ 65.1/bbl

Full year average:

US$ 69.7/bbl

1st half (actual):¥107.8/US$

1st half (actual):¥107.8/US$

2nd half:¥110.0/US$

2nd half:¥110.1/US$

Full year average:¥108.9/US$

Full year average:¥108.9/US$

Note: Crude oil prices at which the Company sells products vary depending on crude oil type and differ from Brent crude oil prices. Crude oil price differences are
determined by the quality of each crude oil type, etc., and are also affected by market conditions.

- 3 -2. Consolidated Financial Statements and Principal Notes(1) Consolidated Balance Sheet(Millions of yen)Accounts

As of December 31, 2020

As of September 30, 2021

(Assets)
Current assets
Cash and deposits

182,978

217,024

Accounts receivable-trade

83,810162,901

Inventories

34,29943,108Other

98,229121,240

Less allowance for doubtful accounts(12,225)(11,779)

Total current assets

387,093532,494

Buildings and structures, net

168,002

161,648

Wells, net

265,337

317,535

1,207,911

1,412,334

Fixed assets
Tangible fixed assets

Machinery, equipment and vehicles, net
Land18,591

18,620Construction in progress

385,405

265,506

Other, net

24,53321,081

2,069,783

2,196,727

Goodwill

35,44531,288Other406,391

407,700

Total intangible assets

441,837

438,989

Investment securities

297,867

342,297

Long-term loans receivable

911,424

1,007,865

Recoverable accounts under production sharing

575,544553,042

Other

23,46922,993

(600)

(638)

Less allowance for recoverable accounts under
production sharing(69,441)(62,213)

Less allowance for investments in exploration(2,460)(1,552)

1,735,804

1,861,794

4,247,424

4,497,511

4,634,518

5,030,005

Total tangible fixed assets
Intangible assets

Investments and other assets

Less allowance for doubtful accounts

Total investments and other assets
Total fixed assets
Total assets- 4 -(Millions of yen)Accounts

As of December 31, 2020

As of September 30, 2021

(Liabilities)
Current liabilities
Accounts payable-trade

15,09036,300

Short-term loans

175,133

143,746

Income taxes payable

12,67643,506

Accrued bonuses

1,415

－

Accrued bonuses to officers

54

40

Provision for loss on business

9,351

8,668

Provision for exploration projects

9,496

9,904

Asset retirement obligations

1,475

820

Other

114,594

153,304

Total current liabilities

339,288396,291

Bonds payable－

20,000Long-term debt

1,059,713

1,045,838

Long-term liabilities

Provision for stocks payment

71

92

Accrued special repair and maintenance

577

627

Provision for loss on guarantees－

568

Liability for retirement benefits

8,158

8,239

Asset retirement obligations

172,147

186,569

Other

53,221

85,6871,293,890

1,347,622

1,633,178

1,743,914

Common stock

290,809290,809

Capital surplus

674,374

676,699

Retained earnings

1,607,524

1,698,515(5,428)(5,425)2,567,279

2,660,599

2,091

2,637

Unrealized gain (loss) from hedging instruments(54,054)(25,738)

Translation adjustments

221,224

390,653

Total accumulated other comprehensive income

169,261

367,552

Total long-term liabilities
Total liabilities(Net assets)
Shareholders' equity

Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Unrealized holding gain (loss) on securities

Non-controlling interests

264,798

257,939

Total net assets

3,001,339

3,286,091

Total liabilities and net assets

4,634,518

5,030,005- 5 -(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
Consolidated Statement of Income(Millions of yen)Accounts

For the nine months ended
September 30, 2020

For the nine months ended
September 30, 2021

Net sales

592,798

849,214

Cost of sales

339,437

385,562

Gross profit

253,360

463,652

5,945

4,038

Exploration expenses
Selling, general and administrative expenses

56,11757,237

Operating income

191,298

402,376

974

22,266

Dividend income

6,119

5,305

Equity in earnings of affiliates

28,158

2,863

－

7,230

Other

6,013

26,333

Total other income

41,26563,998Other income
Interest income

Gain on reversal of allowance for recoverable accounts
under production sharing

Other expenses
Interest expense

15,621

10,359Provision for allowance for recoverable accounts under
production sharing

2,886

－

Foreign exchange loss

7,307

8,862

Other

7,748

19,883

Total other expenses

33,563

39,105

199,000

427,269

Impairment loss

191,297－

Total extraordinary loss

191,297－

Ordinary income
Extraordinary loss

Income before income taxes

7,703

427,269

Income taxes-current

145,698

266,104

Income taxes-deferred(16,984)

33,323

Total income taxes

128,713299,428

Net income (loss)(121,010)

127,8414,417(9,880)(125,427)

137,722

Net income (loss) attributable to non-controlling interests
Net income (loss) attributable to owners of parent- 6 -Consolidated Statement of Comprehensive Income(Millions of yen)Accounts

For the nine months ended
September 30, 2020

Net income (loss)(121,010)

For the nine months ended
September 30, 2021
127,841

Other comprehensive income
Unrealized holding gain (loss) on securities(6,368)530

353(3,388)Translation adjustments(63,920)

170,160

Share of other comprehensive income of affiliates
accounted for by the equity method(44,584)

36,994

Total other comprehensive income(114,521)

204,297(235,531)

332,138(237,463)

336,012

1,932(3,874)

Unrealized gain (loss) from hedging instruments

Comprehensive income
Total comprehensive income attributable to
Owners of parent
Non-controlling interests- 7 -(3) Notes to Consolidated Financial Statements(Conditions or events that indicate there could be substantial doubt about the Company's ability to continue as a going concern)
For the nine months ended September 30, 2021 (January 1, 2021 through September 30, 2021):
None(Note on significant changes in shareholders' equity)
For the nine months ended September 30, 2021 (January 1, 2021 through September 30, 2021):
None(Segment information)
I. For the nine months ended September 30, 2020 (January 1, 2020 through September 30, 2020)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

MiddleEast& Africa

Americas88,376

166,358

52,359274,595

11,108592,798－

592,798

－

4,451

－

－

－

4,451

(4,451)－

Total

88,376

170,81052,359274,595

11,108597,250(4,451)

592,798

Segment income (loss)

16,47239,816

3,169

144,169(2,008)201,619(10,321)

191,298

Total

Net sales
Sales to third parties
Intercompany sales and transfers
between segments

Note: 1. Adjustments of segment income (loss) of ¥(10,321) million are corporate expenses. Corporate expenses are mainly amortization of goodwill and generaladministrative expenses that are not allocated to a reportable segment.
2. Segment income (loss) is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
Impairment loss due to deteriorating business environments based on the drop in oil prices are as follows.
"Asia & Oceania" segment - the Prelude FLNG Project:¥130,029 million, Bayu-Undan Gas-Condensate Field:¥8,948 million"Americas" segment - U.S. shale oil project:¥33,484 million, Lucius Oil Field:¥18,833 million
Ⅱ. For the nine months ended September 30, 2021 (January 1, 2021 through September 30, 2021)
1. Information on sales and income (loss) by reportable segment(Millions of yen)
Reportable segments
Adjustments Consolidated
*1
*2

Japan

Asia &
Oceania

Eurasia(Europe& NIS)

MiddleEast& Africa

Americas90,141

236,837

82,888421,31218,034

849,214－849,214

－

6,203

－

－

－

6,203

(6,203)－90,141

243,040

82,888421,31218,034855,418(6,203)

849,214

8,902

111,434

19,855

265,679

8,296

414,168(11,792)

402,376

Total

Net sales
Sales to third parties
Intercompany sales and transfers
between segments
Total
Segment income

Note: 1. Adjustments of segment income of ¥(11,792) million are corporate expenses. Corporate expenses are mainly amortization of goodwill and generaladministrative expenses that are not allocated to a reportable segment.
2. Segment income is reconciled with operating income on the consolidated statement of income.

2. Information on impairment loss from fixed assets, goodwill and other items by reportable segment
None

- 8 -

(Subsequent events)
I. Business Combination through Acquisition
On October 27, 2021, the Company concluded the agreement on transfer of 50.5% of shares in Idemitsu Snorre Oil Development
Co., Ltd. (ISD) with Idemitsu Kosan Co., Ltd. and Osaka Gas Summit Resources Co., Ltd.
Following the acquisition, ISD and Idemitsu Petroleum Norge AS (IPN) which is a wholly owned subsidiary of ISD will become
subsidiaries of the Company because shares in IPN will be held indirectly by the Company. The acquisition is subject to theapproval of the government of Norway and other conditions.
1. Outline of the business combination(a) Name and business details of the acquired company
i. NameIdemitsu Snorre Oil Development Co., Ltd.
Business details Exploration, development, production and marketing of crude oil and natural gas in Norway through aii. Name

subsidiary
Idemitsu Petroleum Norge AS

Business details Exploration, development, production and marketing of crude oil and natural gas in Norway(b) Main reason for the business combination
The Company expects its core upstream business to become more resilient and its corporate value to further improve bystrengthening its operational base in Norway.
Additionally, the Company determined that the business combination enables the Company to fulfill its two social
responsibilities of providing a stable supply of energy while mounting a response to climate change, in addition to making its
upstream business cleaner, by pursuing decarbonization efforts in Norway and around Europe.
(c) Date of the business combination
January 1, 2022 (tentative)(d) Legal form of the business combination
Acquisition of shares in ISD for cash consideration(e) Company name after the business combination
Not yet determined.
(f) Ratio of voting rights to be acquired
i. Idemitsu Snorre Oil Development Co., Ltd. 50.5%
ii. Idemitsu Petroleum Norge AS
100% (of which indirectly owns 100%)(g) Basis for determination of the acquiring company
The Company will acquire shares in ISD for cash consideration.
2. Amount and breakdown of the acquisition costs
Not yet determined.
3. Amount and breakdown of the main acquisition-related costs
Not yet determined.
4. Amount of goodwill, reason for recognition, and method and period for amortization
Not yet determined.
5. Amount and breakdown of assets received and liabilities assumed on the date of the business combination
Not yet determined.

- 9 -Ⅱ. Acquisition of the Company's Own Shares
The Board of Directors of the Company, at its meeting held on November 5, 2021, resolved that the Company will acquire its own
shares based on the provisions of Article 156 of the Companies Act, applicable under the provisions of Article 165, Paragraph 3,of the same Act.
1. Reasons for acquisition of own share
To improve capital efficiency and enhance shareholder returns.
2. Details of the acquisition(1) Type of shares to be acquired:(2) Total number of shares to be acquired:(3) Total cost of acquisition:(4) Period of acquisition:(5) Method of acquisition:

Common shares
Up to 80,000,000 shares(5.48% of total number of issued shares excluding treasury stock)
Up to 70,000,000,000 yen
From November 8, 2021 to January 31, 2022
Market purchases on the Tokyo Stock Exchange, including through OffAuction Own Share Repurchase Trading System (ToSTNeT-3)

Note: The shares held by the Board Incentive Plan Trust (149,593 shares) are not included in the number of excluded
treasury stocks.
The Company plans to cancel the shares acquired under this acquisition of own shares.

- 10 -

3. Supplementary Information(1) Production, Orders Received and Sales Performance1) Actual production
The following table shows actual production by segment:
Segment

Category

For the nine months ended
September 30, 2020

Crude oil

0.8 MMbbls(3.1 Mbbls per day)

0.8 MMbbls(2.9 Mbbls per day)Natural gas

30.9 Bcf(112.8 MMcf per day)30.2 Bcf(110.8 MMcf per day)Subtotal

6.6 MMboe(24.2 Mboe per day)

6.5 MMboe(23.7 Mboe per day)

Iodine416.2 tons

411.5 tons

Electric power generation

136.1 million kWh

164.9 million kWh

Crude oil11.6 MMbbls(42.3 Mbbls per day)13.6 MMbbls(49.8 Mbbls per day)Natural gas

289.3 Bcf
(1,055.7 MMcf per day)

285.4 Bcf
(1,045.4 MMcf per day)Japan

Asia & Oceania

67.2 MMboe

68.8 MMboe(245.3 Mboe per day)(251.9 Mboe per day)Electric power generation

277.1 million kWh

293.8 million kWh

Crude oil

14.4 MMbbls(52.5 Mbbls per day)13.5 MMbbls(49.4 Mbbls per day)Subtotal

Eurasia(Europe & NIS)

Middle East & Africa

6.8 Bcf

6.9 Bcf(25.0 MMcf per day)(25.5 MMcf per day)Subtotal

15.6 MMboe(56.9 Mboe per day)14.7 MMboe(54.0 Mboe per day)Sulfur

59.6 Mtons

71.4 Mtons

Crude oil

64.9 MMbbls(236.9 Mbbls per day)

59.8 MMbbls(218.9 Mbbls per day)Natural gas

Crude oil
AmericasNatural gas

2.3 MMbbls

2.2 MMbbls(8.4 Mbbls per day)

(8.1 Mbbls per day)14.6 Bcf

8.5 Bcf(53.3 MMcf per day)

(31.1 MMcf per day)

5.0 MMboe

3.8 MMboe(18.3 Mboe per day)(14.1 Mboe per day)

Crude oil

94.0 MMbbls(343.1 Mbbls per day)

89.9 MMbbls(329.3 Mbbls per day)Natural gas

341.6 Bcf
(1,246.8 MMcf per day)

331.1 Bcf
(1,212.7 MMcf per day)Subtotal

Total

For the nine months ended
September 30, 2021

Subtotal
IodineElectric power generation
Sulfur

159.4 MMboe

153.6 MMboe(581.7 Mboe per day)

(562.6 Mboe per day)

416.2 tons

411.5 tons

413.2 million kWh458.7 million kWh59.6 Mtons

71.4 Mtons

Note: 1. The volume of LPG produced overseas is included in "Crude oil".
2. A portion of crude oil and natural gas production volume is consumed as fuel to generate electricity.
3. The production by the Company's affiliates accounted for by the equity method is included in the figures above.
Also the production volume is a result for the nine months ended September 30 regardless of the fiscal year-ends of its subsidiaries or affiliates.
4. The production volume of crude oil and natural gas under the production sharing contracts entered into by the Group corresponds to the net economic
take of the Group.
Figures calculated by multiplying the gross production volume by the Company's interest share are 102.1 MMbbls (372.5 Mbbls per day) of crude oil,
350.5 Bcf (1,279.3 MMcf per day) of natural gas, and in total 169.1 MMboe (617.0 Mboe per day) for the nine months ended September 30, 2020, and97.6 MMbbls (357.6 Mbbls per day) of crude oil, 343.0 Bcf (1,256.3 MMcf per day) of natural gas, and in total 163.4 MMboe (598.6 Mboe per day) for
the nine months ended September 30, 2021.

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5. "Boe" means barrels of oil equivalent.
6. "Iodine" is refined by other company on consignment.
7. Figures are rounded to the first decimal place.

2) Orders received
Disclosure on this information is omitted because the amount of orders received is accounted for a minor portion of total sales.
3) Actual sales
The following table shows sales by segment:(Millions of yen)Segment

For the nine months ended
September 30, 2020

Category

Sales volume

Japan

2,339

426 Mbbls

3,205

56,462 MMcf

75,21066,039 MMcf

75,303

1 Mbbls

8

2 Mbbls

13

LPG

10,81888,37690,143

11,415 Mbbls

52,613

13,553 Mbbls

96,984Natural gas(excluding LPG)

266,232 MMcf

111,629

256,430 MMcf

134,066

208 Mbbls

2,116

683 Mbbls

5,786

Subtotal

166,358

236,837

13,553 Mbbls

51,407

11,652 Mbbls

83,981

6,744 MMcf

1,336

6,954 MMcf

(1,329)Natural gas(excluding LPG)
Other

(384)

236

Subtotal

52,35982,888Crude oil

64,037 Mbbls

274,595

59,070 Mbbls

421,309

Crude oil

2,735 Mbbls

9,358

2,447 Mbbls

15,822Natural gas(excluding LPG)

14,321 MMcf

1,749

9,482 MMcf

2,212

Subtotal

Total

11,621

Crude oil

Crude oil

Americas

Net sales

474 Mbbls

LPG

Middle East & Africa

Sales volume

Crude oil

Subtotal

Eurasia(Europe & NIS)

Net sales

Natural gas(excluding LPG)
Other

Asia & Oceania

For the nine months ended
September 30, 2021

11,10818,034Crude oil

92,214 Mbbls

390,31487,148 Mbbls

621,303

Natural gas(excluding LPG)

343,758 MMcf

189,925

338,904 MMcf

210,253

210 Mbbls

2,125

685 Mbbls

5,799

LPG
Other

10,433

11,858

Total

592,798

849,214

Note: 1. The above amounts do not include the related consumption tax.
2. Sales volumes are rounded to the nearest whole number.

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