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

Company Name:
Securities Code:
Representative:
Inquiries:
TEL:

Japan Petroleum Exploration Co., Ltd. (JAPEX)
1662 (Prime Market of the Tokyo Stock Exchange)
Michiro Yamashita, Representative Director and President
Corporate Communication Office+81-3-6268-7111

May 14, 2024

Notice Regarding Stock Split and Partial Amendment to the Articles of Incorporation
Japan Petroleum Exploration Co Ltd (JAPEX, hereafter the ‘Company’) announces that the Company has
resolved at a meeting of its Board of Directors held on May 14, 2024, to implement a stock split and partiallyamend the Company’s Articles of Incorporation in connection with this split as outlined below.
1.

Stock split
i. Purpose of the stock split
The purpose of the stock split is to increase the liquidity of the Company's shares and expand theinvestor base by reducing the price per unit of investment.
ii.

Method of the stock split
Each share of common stock owned by shareholders listed or recorded in the closing register ofshareholders on the record date of September 30, 2024, will be split into five shares.

iii.

Number of shares to be increased by the stock split
a.Total number of issued shares before the stock split

54,300,076 shares

b.Number of shares to be increased by the stock split

217,200,304 sharesc.Total number of issued shares following the stock split

271,500,380 sharesd.Total number of authorized shares following the stock split

600,000,000 shares

Note: The number of shares mentioned above are based on the total number of issued shares as ofMay 14, 2024. As announced on November 10, 2023, JAPEX is in the process of repurchasing up to 3
million of or 20 billion yen of its own shares with the acquisition period from November 13, 2023 toAugust 30, 2024. All acquired treasury shares are scheduled to be cancelled on September 30, 2024.
As the total number of issued shares will change as a result of the cancellation of treasury shares, thetotal number of issued shares before the stock split, the number of shares to be increased by the stocksplit, and the total number of issued shares following the stock split will be announced once thenumber of treasury shares to be cancelled has been determined.
iv.

Schedule of the stock splitPublic notice of record date

Friday, September 13, 2024

Record date

Monday, September 30, 2024

Effective date

Tuesday, October 1, 2024

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Partial amendment to the Articles of Incorporation in connection with the stock split
i. Purpose of the amendment
In connection with the stock split, an associated article of the Article of Incorporation will beamended effective Tuesday, October 1, 2024, in accordance with Article 184, Paragraph 2 of theCompanies Act.
ii.

Details of the amendment
Details of the amendment are as follows:(The underlined text is to be amended.)

Current Articles of Incorporation

Proposed Amendment(Total Number of Issuable Shares)(Total Number of Issuable Shares)

Article 6.

Article 6.

The total number of the Company’s issuable The total number of the Company’s issuable
shares shall be one hundred and twenty shares shall be six hundred million
million (120,000,000) shares.
iii.

3.

(600,000,000) shares.

Schedule of the amendment
Date of resolution of the Board of Directors： Tuesday, May 14, 2024
Effective date：
Tuesday, October 1, 2024

Other information
i. Change in the amount of stated capital
There will be no change in the amount of stated capital as a result of the stock split.
ii.

Dividends
As the stock split takes effect on October 1, 2024, the Year-end dividend for the year ending March
31, 2024 with a record date of March 31, 2024, and the interim dividend for the year ending March
31, 2025 with a record date of September 30, 2024, will be paid based on the total number of issued
shares before the stock split.
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