Investor Presentaiton

II. Financial Results for the Fiscal Year Ended March 31, 2023 E&P Business (Year-on-Year) FY3/22 (a) Net sales: Million Yen Sales volume E&P Business Breakdown FY3/23 (a) Net sales Sales volume 73,422 Net sales Sales volume 56,063 Change JAPEX Net sales (17,359) (24%) Crude oil 669 41,056 695 55,703 +25 +4% +14,646 +36% Crude oil-Japan 286 15,570 238 20,760 (48) (17%) Thousand KL [1] +5,190 +33% *1 Crude oil Overseas - 357 24,105 436 33,084 [2] +78 +22% +8,978 +37% Purchased crude oil 25 1,381 20 1,858 (4) (18%) +477 +35% Diluted bitumen*2 959 31,121 - [3] (959) (31,121) Natural Gas - Overseas *3 Million M3 130 1,244 11 360 [4] (118) (91%) (883) (71%) Main factors for change [1] Increase in sales price [2] Increase in sales volume and sales price of tight oil in U.S. [3] Absence of sales volume of diluted bitumen due to termination of oil sand project in Canada [4] Decrease in sales volume due to the interests transfer of the shale gas project in Canada *1 FY3/22 includes the amounts of 3 overseas subsidiaries (Japex Garraf Ltd., JAPEX Montney Ltd. and Japex (U.S.) Corp.) and FY3/23 includes the amounts of 2 overseas subsidiaries (Japex Garraf Ltd., and Japex (U.S.) Corp.) *2 Royalty is excluded in the net sales and price of diluted bitumen *3 FY3/22 includes the amounts of 2 overseas subsidiaries (JAPEX Montney Ltd., and Japex (U.S.) Corp.) and FY3/23 include the volume of Japex (U.S.) Corp. Copyright © 2023 Japan Petroleum Exploration Co., Ltd. (JAPEX) All Rights Reserved. 12

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