Investor Presentaiton

Overview 2Q FY2022 2Q FY2023 ■Crude Oil/Coal/Exchange Rate Crude Oil (Dubai) Crude Oil (Brent)* Australian Coal Spot Price* Exchange Rate (TTM) 102.5 107.6 320.3 134.0 [USD/bbl, USD/ton, JPY/USD] Change 82.3 (20.2) (19.7%) 79.8 (27.8) (25.8%) 204.3 (116.0) (36.2%) 141.0 +7.0 +5.2% *Brent prices and Australian coal spot prices are averages based on the calendar year (Jan-Jun). ■Consolidated Income Statement(Summary) [\billions] 2Q FY2022 2Q FY2023 Change Net Sales 4,814.1 4,024.5 (789.6) (16.4%) Operating Income 354.1 202.9 (151.2) (42.7%) Inventory impact 208.2 16.7 (191.5) (92.0%) Equity Income 20.3 8.3 (11.9) (58.9%) Operating Income 374.3 211.2 + Equity Income (163.1) (43.6%) Excluding inventory impact 166.2 194.6 +28.4 +17.1% Ordinary Income 381.2 226.5 (154.8) (40.6%) Extraordinary Income/Losses 17.4 1.3 (16.0) (92.2%) Net Income Attributable to 280.8 164.9 Owners of the Parent (115.9) (41.3%) Excluding inventory impact 136.4 153.4 +17.0 +12.5% *Gross average method of inventory valuation Copyright Idemitsu Kosan Co., Ltd. All Rights Reserved. idemitsu *Inventory impact" represents the impact of inventory valuation and the reduction in book value of inventory assets 17

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