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Appendix 7. Business Overview ⑤ CN Field Required factors to realize a hub & cluster CCS/CCUS Verification and Establishment of Technology Survey of suitable sites for CO2 storage and amounts that can be stored CO2 capture and transportation technology CO2 indention and storage technology Including stored CO2 monitoring + Inter-company and Cross-industry Collaboration Collection of CO2 from emitting sites CO2 transportation network construction Transportation to utilization destinations and collection surpluses ➤ Underground storage of surplus CO₂ • Ongoing CCS/CCUS initiatives to promote/participate in Japan Realize hub & cluster model by FY2030 Consideration in JAPEX ✓ Examination of CO2 storage capacity in our oil and gas fields, etc. ✓ Study of re-injection of associated CO2 from our oil and gas field operations Feasibility study with companies/cross-industry ✓ Feasibility study of CCUS project in Tomakomai area with Idemitsu Kosan and Hokkaido Electric Power Company ✓ Feasibility study on carbon recycling business utilizing inter-industry collaboration in the Tomakomai area with Deloitte Tohmatsu Consulting (NEDO-commissioned project to be completed by the end of March 2023.) ✓ Feasibility study of a business in the Niigata area that makes effective use of CO2 with Mitsubishi Gas Chemical Feasibility Study for a Hub & Cluster Type CCUS Project in Niigata East Port Area (JOGMEC-commissioned project in FY2022 to be completed by the end of February 2022.) Common Technical and other related study Overseas JAPEX Examination and Development of Legal Systems, etc. Legal system for CO2 underground storage Appropriate system of CO2 transportation infrastructures with publicness CO2 trading system Including collaboration with overseas CO2 trading Early profit earning in advanced countries & consideration in emerging countries Consideration in JAPEX ✓ Consideration for participation in CCS/CCUS projects in North America, Europe and other systematically advanced areas ➤ Feasibility study on companies/cross-industry ✓ Joint feasibility study of a CCUS project in Indonesia's Sukowati oil field utilizing bilateral credits (with Pertamina Group and Lemigas) ✓ Joint CCS study in Malaysia: Investigation of suitable sites and technical evaluations for CO2 underground storage (with PETRONAS, JGC CORPORATION, and Kawasaki Kisen Kaisha, Ltd., and works by 3 Japanese companies are adopted as a subsidy project by the Japanese government) ✓ Study on technical issues of energy transportation infrastructure for the realization of a CN society with JFE Engineering Copyright 2023 Japan Petroleum Exploration Co., Ltd. (JAPEX) All Rights Reserved. 35

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