November 8, 2022
JGC Holdings Corporation

Cosmo Oil Co., Ltd.

REVO International Inc.

SAFFAIRE SKY ENERGY LLC Established
for the First Large-Scale Domestic Production of SAF
JGC Holdings Corporation is pleased to announce the establishment of SAFFIARE SKY ENERGY LLC
with Cosmo Oil Co. Ltd. and REVO International Inc. on November 1 of this year for domestic
production and supply of sustainable aviation fuel (SAF) from used cooking oil.

Joint study of the feasibility of commercialization, with the aim of building a domestic supply chain

from collection of used cooking oil to production, transport, and supply of SAF, has been underway
by the three companies since the summer of 2020. The new company will target annual SAF

production on the level of 30,000 kiloliters, seeking to become the first large producer of SAF inJapan. The fuel will be sourced entirely from used cooking oil. In anticipation of the second half offiscal 2024 to the beginning of fiscal 2025 start date, construction of the SAF production facility will
begin in the summer of 2023 at Cosmo Oil's Sakai Refinery in Osaka, with completion expected bythe end of 2024. In addition to SAF, the plant will also produce bionaphtha (a raw material forbioplastic) and biodiesel.

This project pertains to a call for proposals from Japan's New Energy and Industrial TechnologyDevelopment Organization (NEDO) to develop SAF production technologies. The safe and stable

fuel supply chain will be established by combining the knowledge and expertise of each company,
with REVO International and JGC Holdings responsible for raw material procurement and theCosmo Energy Group (Cosmo Oil and Cosmo Oil Marketing Co., Ltd.) responsible for SAF

production and sales to customers. Design, procurement, and construction for this facility will be
undertaken by JGC Japan Corporation.
Overview of the new company
Company name andSAFFAIRE SKY ENERGY LLCHead office2-3-1 Minato Mirai, Nishi-ku, Yokohama, Kanagawa

Date established

November 1, 2022

Capital100,000,000 yen

Representative

Masahiro Aika (senior executive officer at JGC Holdings)

investment ratio(JGC Holdings: 48%, Cosmo Oil: 48%, REVO International: 4%)

Business

Production and sales of SAF, bionaphtha, and biodiesel from domestic
used cooking oil

Plant overview
Construction site

Chikko Shinmachi, Nishi-ku, Sakai, OsakaSAF production

Approx. 30,000 kiloliters/year

Raw materials

Domestic used cooking oil

Plant start date

The second half of fiscal 2024 to the beginning of fiscal 2025

capacity（Cosmo Oil's Sakai Refinery）

Construction site
Saffaire in the new company name derives from a combination of "sapphire" (a gemstone) and"SAF." With the deep blue of sapphires often symbolizing an unwavering spirit, this represents ourcommitment to carry through on our goal of helping to decarbonize the aviation sector.

Behind this combination of the blue of sapphires and "Sky Energy" lies a hope that the new energy
source of SAF can help keep our skies blue.

JGC Holdings, Cosmo Oil, and REVO International have been members of ACT FOR SKY, a voluntaryorganization established on March 2 of this year to introduce, promote, and expand domestically

produced SAF, since its inception. We believe that the establishment of this new company will be amajor step toward achieving ACT FOR SKY's goal of introducing, promoting, and expanding
domestically produced SAF.

The new company will be led by Yuki Nishimura (JGC Holdings, Sustainability Co-CreationDepartment), who also chairs the steering committee of ACT FOR SKY, and will work to realize
Japan's first commercial-scale domestic SAF supply system by fostering momentum fordomestically produced SAF, and by changing the behavior of citizens and companies throughchanging their awareness of SAF.

Through the establishment of SAFFAIRE SKY ENERGY, the three companies will further acceleratebusiness development aimed at building a SAF supply chain. We will be putting in place a system

to supply domestically produced SAF in 2025, when worldwide interest in SDGs will be heightened
by Expo 2025 in Osaka. The project is also part of efforts toward a sustainable circular economy.
Company Details
JGC Holdings Corporation
Toward our materiality goal of societies in harmony with the environment, JGC Holdings is focusing
on construction of liquefied natural gas (LNG) plants with lower environmental impact as well as
biomass, solar, and other renewable energy power plants, production of functional materials

including microplastic alternatives and high thermal conductivity silicon nitride substrates forelectric and hybrid vehicles, and early commercialization of environmental technologies such ashydrogen energy (CO2-free ammonia) and chemical recycling of waste plastic. Group domestic EPC
operating company JGC Japan Corporation has a proven track record as an engineering company

behind the construction of many plants and facilities in the energy and general industrial sectors inJapan.

https://www.jgc.com/en/Cosmo Oil Co., Ltd.
Based on our mission of a safe and stable supply of energy, which is indispensable to our daily life,
the Cosmo Energy Group to which Cosmo Oil belongs has grown by having petroleum andpetrochemical as it core business, and is now expanding renewable energy business from theperspective of long-term changes in the business environment.

Setting out our group management vision as "Harmony and Symbiosis with the GlobalEnvironment," Cosmo Energy aims to be the most environmentally friendly oil/energy corporategroup, and based on our sixth consolidated medium-term management plan, Oil & New, we utilize
our strengths to develop our service station network for the next-generation mobility society, topromote eco-friendly electricity sales, and to expand production of clean energy, mainly aroundwind power generation. Through these businesses, including that represented by this venture, weaim to contribute in solving social issues and building a sustainable society.
https://www.cosmo-oil.co.jp/eng/index.html
REVO International Inc.
Revo International has built a unique track record as a business pioneer, including the formation ofa transaction network for used cooking oil nationwide, the production and sale of biodiesel fuels inJapan and other countries over many years using its proprietary manufacturing process, theestablishment of integrated operations covering raw materials procurement, technology

development, production, and sales, and cooperation in formulating Japan's first quality standards.
The company intends to further expand the transaction network for used cooking oil and to ramp
up the procurement of new raw material fats. In this collaboration, the company hopes toencourage domestic demand, broaden the use of cyclical biomass resources, and build local cyclicalecosystems.

https://www.e-revo.jp/english/

Contact for media representatives
Akihiro Yamagami, Masayuki Date, or Masayuki Okii
Group Strategic Planning & Management Department, Corporate Communication GroupJGC Holdings Corporation
Tel: +81-45-682-8026 / Email: yamagami.akihiro@jgc.com, date.masayuki@jgc.com,okii.masayuki@jgc.com
Hosoya / Yamada
Corporate Communications Department, Public Relations Group
Cosmo Energy Holdings Co., Ltd.
Tel: +81-3-3798-3101
Chimi
Sales Section
REVO International, Inc.
Tel: +81-75-604-0518 / Email: babihime@e-revo.jp