Note: The following is an English translation of the Japanese-language original.

May 13, 2021
Company Name: Japan Petroleum Exploration Co., Ltd. (JAPEX)Securities Code:

1662 (First Section of the Tokyo Stock Exchange)

Representative:

Masahiro Fujita, Representative Director and President

Inquiries:

Corporate Communication OfficeTEL:+81-3-6268-7110

Change of Representative Director and Executive Appointment

Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that the following change of representative
directors and directors in appointment of executives tentatively decided at a board of directors meeting heldtoday. The changes are subject to approval at the 51st ordinary general meeting of shareholders to be held on
June 25, 2021.
Following the shareholders’ meeting, appointment of executives except for directors will be decided at aboard of directors meeting and so forth.

1. Change of Representative Directors (as of June 25, 2021)*Changes are underlined.

1) Reason of Change
To achieve further growth and enhance corporate value by reacting promptly to changes in the businessenvironment.
2) Detail of Change
Name

New Position and Business Duty

Kazuhiko Ozeki

Representative Director, Executive Vice President
Advisor to President, President of Overseas
Project Management Division, in charge of
Secretary OfficeDirector, Senior Managing Executive Officer
President of Overseas Project Management
Division

Yoshitaka Ishii

Representative Director, Executive Vice President
Advisor to President, President of Power Business
Division
Representative Director and President ofFukushima Gas Power Co., Ltd.

Director, Senior Managing Executive Officer
President of Power Business Division
Representative Director and President ofFukushima Gas Power Co., Ltd.

Advisor

Representative Director, Executive Vice President
Advisor to President, President of Marketing &Sales Division, in charge of Secretary Office, andProcurement Dept.

Yosuke Higai

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Current Position and Business Duty

3) Biography of the Candidates for new Representative Director
Name

Date of Birth

Kazuhiko Ozeki

Career Summary
April, 1980

Joined JAPEX

June, 2010

Executive Officer of JAPEX

June, 2013

Managing Executive Officer of JAPEX

June, 2015

Managing Director of JAPEX

June, 2018

Director, Managing Executive Officer of JAPEX

June, 2020

Director, Senior Managing Executive Officer ofJAPEX (Current Title)

April, 1981

Joined JAPEX

June, 2014

Executive Officer of JAPEX

June, 2017Managing Executive Officer of JAPEX

June, 2018

Director, Managing Executive Officer of JAPEX

June, 2020

Director, Senior Managing Executive Officer ofJAPEX (Current Title)

6,500

January 19, 1957

Yoshitaka Ishii

April 3, 1957

Shareholds

2,700

2．Executive Appointment *Changes are underlined.
1) Change of Directors (as of June 25, 2021)[1] Director to be promoted
Name

New Position and Business Duty

Hajime Ito

Director, Senior Managing Executive Officer
President of Americas & Russia Project Division

Current Position and Business Duty
Director, Managing Executive Officer
President of Americas & Russia Project Division

2) Change of Audit & Supervisory Board Member (as of June 25, 2021)[1] Candidate for new Audit & Supervisory Board Member
Name
Mitsuyoshi Nakamura

New Position and Business Duty
Audit & Supervisory Board Member

Current Position and Business Duyu
Assistant of the executive in charge of HSE Dept.

[2] Audit & Supervisory Board Member to be retired
Name
Kenji Uchida

New Position and Business Duty
-Current Position and Business Duty
Audit & Supervisory Board Member

2/63) Change of Executive Officers (as of June 25, 2021)[1] Candidates for new Executive Officers
Name

New Position and Business Duty

Current Position and Business Duty

Tomonori Ikeno

Executive Officer
President of Japan Canada Oilsands Limited

President of Japan Canada Oilsands Limited

Hirofumi Kasa

Executive Officer
Vice President of Power Business Division

Advisor to President of Power Business Division[2] Executive Officers to be promoted
Name

New Position and Business Duty

Current Position and Business Duty

Takamasa Miyadai

Managing Executive Officer
General Manager of Soma District Office

Executive Officer
General Manager of Soma District Office

Toshiaki Nakajima

Managing Executive Officer
In charge of Corporate Communication Office, andCorporate Strategy Dept.

Executive OfficerIn charge of Corporate Communication Office, andCorporate Strategy Dept.

Managing Executive Officer
Vice President of Americas & Russia ProjectDivision

Executive Officer
Vice President of Americas & Russia ProjectDivision

Satoshi Abe[3] Directors to be changed the business in charge
Name

New Position and Business Duty

Current Position and Business Duty

Senior Managing Executive Officer
President of Marketing & Sales Division, incharge of Procurement Dept.

Senior Managing Executive Officer
Vice President of Marketing & Sales Division

Tadashi Matsunaga

Managing Executive Officer
In charge of Internal Control, Administration &Legal Dept., Human Resources Dept., andInformation Technology Dept.

Managing Executive Officer
In charge of Human Resources Dept.

Kazuhiko Tezuka

Executive Officer
President of Technical Division

Executive Officer
Representative Director and President ofGeophysical Surveying Co., Ltd.

Tsuyoshi Suga

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[4] Executive Officers to be retired
Name

New Position and Business Duty

Current Position and Business Duty

Yasushi Hamada-Managing Executive Officer
President of Technical Division

Yoshihiko Motoyama-Executive Office
In charge of Internal Control, Administration &Legal Dept., and Information Technology Dept.

<Appendix>
・Executives of Japan Petroleum Exploration Co., Ltd. (as of June 25, 2021)

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<Appendix> Executives of Japan Petroleum Exploration Co., Ltd. (as of June 25, 2021)* New Appointed[Directors] (11)Position

NameBusiness Duty

Representative Director
Chairman

Osamu Watanabe-Representative Director
Chief Executive Offcer

Masahiro Fujita-

Representative Director
Executive Vice President

Kazuhiko Ozeki

Advisor to President, President of Overseas ProjectManagement Division, in charge of Secretary Office

Representative Director
Executive Vice President

Yoshitaka Ishii

Advisor to President, President of Power Business Division
Representative Director of President Fukushima Gas Power
Co., Ltd.

Director
Senior Managing Executive Officer

Hajime Ito

President of Americas & Russia Project Division

Director
Managing Executive Officer

Toshiyuki Hirata

President of Middle East, Asia & Europe Project Division

Director
Managing Executive Officer

Michiro Yamashita

In charge of Finance & Accounting Dept.

Outside Director

Akira Kojima-

Outside Director

Tetsuo Ito-

Outside Director

Yukari Yamashita-

Outside Director

Hideichi Kawasaki-【Audit & Supervisory Board Member】(4)PositionName

Business Duty

Audit & Supervisory Board Member

Koichi Shimomura-

Audit & Supervisory Board Member

Mitsuyoshi Nakamura *-Outside Audit & Supervisory Board
MemberHiroyasu Watanabe-

Outside Audit & Supervisory Board
MemberNorio Nakajima-5/6

[Executive Officers not serve as Director] (14)PositionNameBusiness Duty

Senior Managing Executive Officer

Tsuyoshi Suga

President of Marketing & Sales Division, in charge ofProcurement Dept.

Managing Executive Officer

Senichiro Kaku

President of Inter-regional Gas Supply Division, in charge ofGas Pipeline Transportation Office

Managing Executive Officer

Minoru Kuniyasu

Local President of Kangean Project
President of Kangean Energy Indonesia Ltd.

Managing Executive Officer

Tadashi Matsunaga

In charge of Internal Control, Administration & Legal Dept.,
Human Resources Dept., and Information Technology Dept.

Managing Executive Officer

Tsuneta Nakamura

President of Domestic E&P Project Division, in charge of HSE
Dept.

Managing Executive Officer

Masanori Amano

In charge of Environmental Business Promotion Dept., andNew Business Promotion Dept., Vice President of PowerBusiness Division

Managing Executive Officer

Takamasa Miyadai

General Manager of Soma District Office

Managing Executive Officer

Toshiaki Nakajima

In charge of Corporate Communication Office, and Corporate
Strategy Dept.

Managing Executive Officer

Satoshi Abe

Vice President of Americas & Russia Project Division

Executive Officer

Ryohei Wakishima

In charge of LNG Marketing and Procurement Office

Executive Officer

Shinichi Takahata

General Manager of Nagaoka District Office

Executive Officer

Kazuhiko Tezuka

President of Technical Division

Executive Officer

Tomonori Ikeno *President of Japan Canada Oilsands Limited

Executive Officer

Hirofumi Kasa *Vice President of Power Business Division[Fellow] (1)Position
Fellow

Name

Business Duty

Amane Waseda(Research Center, Technical Division)Note) Fellow is in charged of supporting business with highly expertise in the professional area.

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