Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANMay 14, 2024

Announcement of Revision of Consolidated Financial Forecasts
for the Six Months Ending June 30, 2024 and the Fiscal Year Ending
December 31, 2024
Tokyo, Japan - INPEX CORPORATION (INPEX) announced today the revision of its
consolidated financial forecasts for the six months ending June 30, 2024, and for the fiscal
year ending December 31, 2024 announced on February 13, 2024.
1. Revision of consolidated financial forecasts for the six months ending June 30, 2024
(From January 1, 2024 to June 30, 2024)

Previous forecasts(February 13, 2024): A
Revised forecasts: B
Increase (decrease):
B-A
Percentage change (%)

Revenue

OperatingprofitProfitbefore tax

Profitattributableto owners ofparent

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

1,043,000
1,150,000

544,000
666,000

559,000
678,000

155,000
205,000

123.19162.92

107,000

122,000

119,000

50,000

10.3

22.4

21.3

32.3

−−−−

Basicearnings
per share

Reference:
Consolidated financial results forthe six months ended June 30,−2023

Note: Reference figures for the six months ended June 30, 2023 are not provided due to the absence ofcomparable figures based on IFRS. (Financial results for the six months ended June 30, 2023 weredisclosed in accordance with Japanese GAAP.)

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN2. Revision of consolidated financial forecasts for the fiscal year ending December 31,2024 (From January 1, 2024 to December 31, 2024)
ProfitBasic
attributable toOperatingProfit
Revenueearnings
owners ofprofit
before tax
per share
parentPrevious forecasts
Millions of yen
Millions of yen
Millions of yen
Millions of yen
Yen(February 13, 2024): A
1,931,000
1,010,000
1,043,000
330,000
262.27
Revised forecasts: B
2,178,000
1,210,000
1,241,000
360,000
286.11
Increase (decrease):
247,000
200,000
198,000
30,000
B-A
Percentage change (%)
12.8
19.8
19.0
9.1
Reference:
Consolidated financial results forthe year ended December 31,

2,164,516

1,114,189

1,253,384

321,708248.552023

3. Reasons for the revisions
INPEX revised its consolidated financial forecasts for the six months ending June 30, 2024
and the fiscal year ending December 31, 2024 due to factors including higher-than-expectedcrude oil prices and the depreciation of the Japanese yen against the U.S. dollar in the threemonths ended March 31, 2024 as stable operations were carried out at INPEX’s key projects
including Ichthys LNG. The revised forecasts also reflect the revision of crude oil price andexchange rate assumptions1 for the second quarter onwards.
1 Crude oil price and exchange rate assumptions

Crude oil price(Brent)Exchange rate

Previous forecasts(February 13, 2024)
US$ 75.5/bbl
1st half:
US$ 70.5/bbl
2nd half:
・3rd quarter
・US$ 73.0/bbl
・4th quarter
・US$ 68.0/bbl
US$ 73.0/bbl
Full year:

Revised forecasts(May 14, 2024)
US$ 82.5/bbl
1st half:
US$ 77.5/bbl
2nd half:
・3rd quarter
・US$ 78.7/bbl
・4th quarter
・US$ 76.2/bbl
US$ 80.0/bbl
Full year:

1st half:
2nd half:
Full year:

1st half:
2nd half:
Full year:¥138.0/US$¥138.0/US$¥138.0/US$¥148.0/US$¥142.0/US$¥145.0/US$

Note: Forecasts above are based on information that is currently available and reflect uncertainties. Actual
results may differ from the forecasts due to changes in business conditions including oil and natural gas
prices, production and marketing plans, project development schedules, government regulations andfinancial and tax schemes, etc.

Public Relations Group, Corporate Communications Unit
Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPANBased on the shareholder return policy outlined in INPEX Vision@2022, INPEX will, in principle,
maintain stable dividend payouts during the period covered by the medium-term business planfrom fiscal year 2022 to fiscal year 2024 with a total payout ratio of around 40 percent or greater,
and a minimum annual dividend per share of 30 yen. During this period, INPEX will also strive
to strengthen shareholder returns through means including share buybacks based on thecompany’s business environment, financial base and management conditions, etc.
The annual dividend forecasts for the year ending December 31, 2024 remain unchanged at38 yen per common stock for the interim dividend and 38 yen per common stock for the yearend dividend. Regarding share buybacks, INPEX decided on the acquisition of its own sharesat a meeting of its Board of Directors held today. For details, please refer to the “Announcement
Concerning Resolution on Acquisition of Own Shares” announced today.
INPEX will consider additional shareholder returns at the time of the announcement of its
financial results for the six months ending June 30, 2024 and thereafter, based on the progressof its full year financial forecasts, changes in the external environment and other factors.
Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) +81-3-5572-0750