Note: The following is an English translation of the Japanese-language originalFebruary 9, 2024
Japan Petroleum Exploration Co., Ltd.

Appointment of Executives and Change of Organizations
Japan Petroleum Exploration Co., Ltd. (JAPEX, Headquarters: Chiyoda-ku, Tokyo, Representative Director,and President: FUJITA Masahiro) decided the change of executive officers as of April 1, 2024, as follows.
The change of Directors and Audit & Supervisory Board Members, which will be subject to the resolution
at the 54th ordinary general meeting of shareholders to be held on June 2024, will be announced upon itsdecision.
In addition, we would like to announce the establishment of the "Japan Carbon Neutral Division" as of April
1, 2024, to enhance our business in the carbon neutral field in Japan.
1. Change of Executive Officers (as of April 1, 2024) * Changes are underlined
1) New Executive Officer
Name

New Position

Current Position

Executive Officer
HIRATA Kazunari

Vice President of Overseas Business Division I

General Manager of Business Development

General Manager of Business Development

Dept. I of Overseas Business Division I

Dept. I of Overseas Business Division I2) Promotion of Executive Officers
Name

NAGAHAMA YasushiFUNATSU Jiro

New Position

Current Position

Managing Executive Officer

Executive Officer

Vice President of Marketing & Sales Division,

Vice President of Marketing & Sales Division,

General Manager of Hokkaido Marketing & Sales

General Manager of Hokkaido Marketing &Office of Marketing & Sales Division

Sales Office of Marketing & Sales Division

Managing Executive Officer

Executive Officer

In charge of Administration & Legal Dept., andIn charge of Internal Control, Administration

Human Resources Dept.

& Legal Dept., and Human Resources Dept.

3) Changes of the business in charge of Executive Officers
Name

New Position

Current Position
Managing Executive Officer

IKENO Tomonori

Managing Executive Officer

In charge of Environmental BusinessPresident of Japan Carbon Neutral Division

Promotion Dept., and New Business
Promotion Dept.
Executive Officer,NISHIMURA Yutaka

Executive Officer

Advisor to Executive in charge of Finance &In charge of Finance & Accounting Dept., andAccounting Dept.

Deal Execution/PMI Support Dept.

General Manager of Deal Execution/PMI
Support Dept.

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2. Change of Organizations aiming at responding the carbon neutral field in Japan (as of April 1, 2024)
We have established the "JAPEX 2050" as our response towards realization of the carbon-neutral society in2050, and in the "Management Plan 2022-2030," we have set forth the launch of hub-and-cluster type
CCS/CCUS model business by FY2030 as a specific initiative.
To smoothly promote carbon neutral business initiatives, including domestic CCS business, theEnvironmental Business Promotion Dept. and the New Business Promotion Dept. will be merged into a newJapan Carbon Neutral Division. The new division will consist of the Business Development Dept. I and theBusiness Development Dept. II, which will promote commercialization, and the Storage Engineering Dept.
and the Pipeline & Facility Engineering Dept., which will oversee technology-related operations in the carbonneutral business.
Appendix: Executives of Japan Petroleum Exploration Co., Ltd. (as of April 1, 2024)

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<Appendix> Executives of Japan Petroleum Exploration Co., Ltd. (as of April 1, 2024)[Directors] (11)
Title

Name
FUJITA Masahiro-

YAMASHITA Michiro-

Representative Director and Chairman
Representative Director and President
Chief Executive Officer
Representative Director

ISHII Yoshitaka

Executive Vice President
Director
Managing Executive Officer

NAKAJIMA Toshiaki

DirectorAdvisor to President, President of Power BusinessDivision, in charge of Secretary Office
In charge of Corporate Communication Office,Corporate Strategy Dept.

TEZUKA Kazuhiko

President of Technical Division

WATANABE Osamu

Special Advisor

Managing Executive OfficerDirector

Business Duty

Outside Director

ITO Tetsuo-Outside Director

YAMASHITA Yukari-

Outside Director

KAWASAKI Hideichi-

Outside Director

KITAI Kumiko-Outside Director

SUGIYAMA Yoshikuni-Note) ITO Tetsuo, YAMASHITA Yukari, KAWASAKI Hideichi, KITAI Kumiko, and SUGIYAMA Yoshikuni are the Outside Directors as
stipulated under Article 2-15 of the Companies Act of Japan.

[Audit & Supervisory Board Members] (4)
Title

Name

Business Duty

Audit & Supervisory Board Member

NAKAMURA Mitsuyoshi-Audit & Supervisory Board Member

MOTOYAMA Yoshihiko-Outside Audit & Supervisory Board Member

KAWAKITA Chikara-

Outside Audit & Supervisory Board Member

MOTOYAMA Hiroshi-Note) KAWAKITA Chikara and MOTOYAMA Hiroshi are the Outside Audit & Supervisory Board Members as stipulated under Article
2-16 of the Companies Act of Japan.

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[Executive Officers who are not concurrently Director] (14)
Title

Name

Business Duty
President of Marketing & Sales Division, in charge ofSenior Managing Executive OfficerSUGA Tsuyoshi

Managing Executive Officer

ABE Satoshi

President of Overseas Business Division I

Managing Executive Officer

IKENO Tomonori

President of Japan Carbon Neutral Division

Managing Executive Officer

KASA Hirofumi

Vice President of Power Business Division

Managing Executive Officer

YAMADA Tomomi

President of Overseas Business Division II

Procurement Dept.

Vice President of Marketing & Sales Division,
Managing Executive Officer

NAGAHAMA Yasushi

General Manager of Hokkaido Marketing & Sales
Office of Marketing & Sales Division

Managing Executive Officer

FUNATSU Jiro

Executive Officer

NAKANO Masanori

Executive Officer

OHAMA Tadashi

Executive Officer

YASUI Akira

Executive Officer

TAKAHASHI Toshihiro

Executive Officer

SUDA Akira

Executive Officer

NISHIMURA Yutaka
HIRATA Kazunari

Executive Officer(New)

In charge of Administration & Legal Dept., andHuman Resources Dept.
General Manager of Nagaoka District Office

In charge of LNG Marketing & Procurement OfficeVice President of Power Business Division

President of Domestic E&P Project Division, incharge of HSE Dept.
President of Gas Supply & Facility Engineering
Division
In charge of Finance & Accounting Dept., and Deal
Execution/PMI Support Dept.
Vice President of Overseas Business Division I
General Manager of Business Development Dept. I ofOverseas Business Division I[Fellows] (2)Title

NameBusiness Duty

Fellow

ANRAKU Toshiyuki(Technical Division)

Fellow

TAKANO Osamu(Research Center, Technical Division)Note) Fellows support the Board Members and senior managements by the high degree expertise in the specialized fields.

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