Integrated Report 2023

Appendix 4. Price Assumptions for FY3/24 Forecasts JAPEX Upper: from January 2022 to March 2023 Lower: from January 2023 to March 2024 Full year Market Price Jan.-Mar. Apr.-Jun. Jul.-Sep. Oct.-Dec. Jan.-Mar. FY3/23 (a) 101.55 115.31 105.93 89.98 102.26 Crude oil price (CIF) *1 USD/bbl Initial (f) Aug. 9 Revised (f) 85.17 75.00 75.00 75.00 77.45 - 85.17*2 81.77*2 85.00 85.00 84.35 Nov. 10 FY3/23 (a) 94.41 108.65 91.76 82.85 94.42 Initial (f) WTI USD/bbl 76.11 76.27 75.00 75.00 75.60 Aug. 9 Revised (f) 76.11*2 73.78*2 80.00 80.00 - 77.46 Nov. 10 FY3/23 (a) 101,863 143,821 142,404 117,057 126,286 Initial (f) JLC price JPY/Ton 88,287 81,400 76,200 75,800 80,422 Aug. 9 Revised (f) 89,887*2 89,115 Nov. 10 89,400 91,233 89,909 FY3/23 (a) 122.50 133.58 143.32 133.39 132.86 Exchange rate*1 Initial (f) JPY/USD 134.36 130.00 130.00 130.00 131.16 Aug. 9 Revised (f) Nov. 10 134.36*2 141.06*2 140.00 140.00 139.51 *1 Domestic sales price average of crude oil referring to crude oil (CIF) *2 Actual Copyright 2023 Japan Petroleum Exploration Co., Ltd. (JAPEX) All Rights Reserved. 34

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