O v e r v i e w o f E N E O S

Name ENEOS Corporation

Established May 10, 1888

Representative Representative Director: Sugimori TsutomuRepresentative Director, President: Saito Takeshi

Postal code: 100-81621-1-2 Otemachi, Chiyoda-ku, Tokyo, Japan

Capital 30 billion yen (100% investment of ENEOS Holdings, Inc.)

9,348 as a single corporation (as of April 1, 2021)Employees

Business Areas •Refining and sales of petroleum products (such as gasoline, kerosene, and lubricating oil)•Import and sale of gas and coal•Manufacture and sale of petrochemical products•Supply of electricity and hydrogen

The ENEOS logo was created in 2001. The ENEOS brand has gained widespread

recognition and is now a favorite among customers.

"ENEOS" is a por tmanteau created by combining the words energy and neos

(meaning "new" in Greek). We prov ide a wide range of energy ser v ices to

our cus tomers . Our brand mark is an expression of "energy" in a symbolic

form. The central sphere expresses "reliabili t y" and "persis tence," while the

outward spiral expresses "creativity" and "innovation."

Concepts Embodied in the ENEOS Brand Logo

Head Office

The ENEOS Brand Logo

E N EOS C o r p o r a t e P r o f i l e

The business environment surrouding the Group is undergoing unprecedented changes,including the acceleration of the global trend toward the development of a low-carbon society,rapid evolution of innovation such as IoT and AI, growing momentum for corporate social responsibility represented by ESG and SDGs. Furthermore, as oil demand in Japan continues to decrease, survival would be a challenging goal for the Group if we simply continued as before.With the sense of urgency concerning such points, we announced the "ENEOS Group Long-Term Vision for 2040" in May 2019.The vision lays out a scenario in 2040 based on current global trends and serves as a guidepost for the Group’s envisioned goalsand solutions for the future．We will help to build a sustainable future in partnership with society through the realization of this vision.

The ENEOS Long-Term Vision andFuture Business Goals

04 05

Vision for Future Business Portfolio

Long-Term Global Trends

Toward2040

ENEOS Group Long-Term Vision for 2040Our envisioned goals

Become one of the most prominentand internationally-competitive

energy and materialscompany groups in Asia

1

Create value bytransforming our

current business structure

2

Contribute tothe development ofa low-carbon,

recycling oriented society

3

Affordable andClean Energy

Industry,Innovation andInfrastructure

Sustainable Citiesand

Communities

ResponsibleConsumptionand Production

ClimateAction

We Aim to Contribute Toward ThroughOur Business activities

Good Healthand Well-Being

QualityEducation

GenderEquality

We Aim to Contribute Toward ThroughOur Corporate activities

Decent Workand

Economic Growth

ReducedInequalities

PetrochemicalsChemical Refineries

Add high valueto petroleum

Environmentallyconscious businesses

Materials(Electronic

materials, etc.)

Oil and Natural Gas E&P

Act as a platformprovider

Growthbusinesses

Basebusinesses

Enhance our technologicalcapabilities

Contribute tothe development of a low-carbon,recycling-oriented society

Next Generation Energy SupplyRenewable EnergyCO2-Free Hydrogen

CommunityServices

Petroleum Refining& Marketing

Metal Resources Development,Copper Smelting and Refining

Digital innovationRapid progress of Internet societyand blockchain technology

Dramatic improvement in productivitywith AI, IoT, robotics, etc.

Electrification(shift to EV, autonomous driving, etc.)

Virtual Power Plant (VPP)InitiativesAs we have positioned providing next-generation energy supply and community services as one of our Growth businesses, We have operated VPP testing for control of energy resources such as storage battery systems and our owned power generation facilities.Building on the first trial operation at service stations in Japan,we aim to acquire expertise in power supply and demand balance adjustments associated with renewable energy adoption.

Contributing to the development of a low-carbonCreating about a sustanable and vibrant society through developments of solar, wind, and other renewable power sources.

Renewable EnergyWe operate mega-solar power plants in 20 locations (as of the end of October, 2020) across Japan, using idle company-owned lands . Furthermore, we are actively engaged in power generation using renewable energy sources such as biomass, hydro-power, and wind power. In May 2020, Muroran Biomass Power Plant has commenced commercial operations , which is one of the largest wood biomass-only power plant in Japan. We intend to contribute toward reductions in CO2 emissions in the future using renewable energy development.

Muroran Biomass Power Plant (Maximum Output: 68,000 kW)

VPP trial at a service station*Energy Management System

Establishment of a CO2-FreeHydrogen Supply ChainWhile most current hydrogen manufacturing involves CO2 emissions, stable and affordable provision of CO2-free hydrogen̶manufactured without CO2 emissions̶will be required when considering future large-scale introduction for industry and in hydrogen power generation. We are constructing a CO2-free supply chain, and in 2019 we succeeded with the world's first technical trial of low-cost producing of organic hydride̶a hydrogen carrier with potential for large-scale shipping from overseas sources. Furthermore, we are participating in the planning of HySTRA, the international CO2-free hydrogen supply chain project, and are engaged in trials working toward commercial viability.

Realizing a hydrogen societyDriving to the broad social implementation of hydrogen energy using expertise in petroleum refining,

Supplying Hydrogen FuelIn 2014, we began operation of hydrogen stations in conjunction with the first sales of fuel cell vehicles. By leveraging the expertise we have cultivated regarding petroleum refining and marketing, we are constructing hydrogen supply infrastructure that contributes toward a sustainable, hydrogen society. As the end of October 2020, we operate hydrogen stations in 44 locations centering on four big cities in Japan. We have also established a hydrogen manufacturing and distribution center in the Tokyo metropolitan area. Our integrated system handles everything from manufacturing to marketing to provide our end customers with hydrogen.

Map of ENEOS Hydrogen Stations

Concept image ofCO2-free internationalhydrogen shipping(credit: HySTRA)

FOCUS FOCUS

VPP System

EMS* EMS Tokyo Metropolitan AreaTokyo Prefecture: 8 locations (including 1 mobile location)Kanagawa Prefecture: 12 locations (including 7 mobile locations)Chiba Prefecture: 3 locationsSaitama Prefecture: 6 locations (including 3 mobile location)Ibaraki Prefecture: 1 location (mobile)

Northern Kyushu (5 locations)Shizuoka Prefecture: 5 locations

Kansai Area (3 locations)Osaka Prefecture: 2 locationsKyoto Prefecture: 1 location

Chukyo Area (6 locations)Aichi Prefecture: 6 locations

06 07

Top right: Panaferd®-AX ENEOS Laundry

NutritionIn addition to petroleum products, we are involved in businesses that leverage the research and development capabilities skills we have cultivated over the years. We produce safe and , worry-free rare carotenoids products using our proprietary non GMO-free fermentation technologies,: Panaferd® is rich in such as astaxanthin to contribute for color improvements in farmed salmon and trout as well as egg yolk, and the rare carotenoids which are powerful antioxidants that show promise as supplements.

Improvements of Health and Quality of Life

Advancement of a Digital Society

Expanding Community Services

Toward a Low-Carbon, Recycling-Orienterd Society

EfficientUse of

EV StorageBatteries

Recycle

Reuse

Lease

Materials

Stationary Storage BatteryEV Storage Battery

Local Production andConsumption of Energy

Material-Level Breakdownand Collection

Mobility and Lifestylesupport ServicesWe are actively creating new mobility and life support services, leveraging our nationwide network of service stations. In the mobility service field, we offer car sharing and car leasing businesses, and are also considering commercialization of mobility stations and EV charging platforms in partnership with start‐up companies within domestic and overseas. In the life support services field, we are also creating highly useful services optimized to suit local needs, such as laundromats.

Advanced MaterialsDevelopmentThe digital society in the future will require materials capable of quickly and accurately processing massive amounts of data. We will use our carbon, high heat-resistant, elastomer, and micro - nano material technologies to create innovative products that spur society's development, and provide customers with valuable products and services tailored to their diverse needs.

Efficient Use ofEV Storage BatteriesWe are building a lease, reuse and recycl model for EV bus storage batteries in partnership with BYD Japan. The batteries are leased to the bus operating companies, given a second life as renewable energy storage batteries when they reach the end of their bus-usage lifespans, and finally dismantled and recycled as raw materials.

Top left: "High Heat-Resistant DOE" optical sensor technology facilitating autonomous driving

An circular model for efficient use of EV storage batteries

08 09

We see lubricants as a technology-based product that supports global industries. We manufacture and sell lubricats for a wide range of applications, including automotive, industrial, and marine, incorporating our proprietary technologies. We are also developing next-generation lubricats for electric vehicles. We hold roughly 30 marketing hubs and over 60 manufacturing bases (including contracted bases) in Asia, North and South America, the Middle East, and other regions. We are expanding our overseas business even further.marine

WastePlasticRecycling

Use/Waste

Breakdown (Reduction to Oil)

Collection

Petrochemical Products

Petroleum Refining

Digital Transformation (DX) InitiativesWe are shifting to automation at our refineries and creating innovative new products and services through combinations of advanced digital technologies, such as AI and diverse forms of data. Furthermore, in July 2020 we launched CDO Office dedicated to advancing DX, further accelerating movement toward digitalization.

Stable Supply of EnergyFor various energy needs , realizing stable supply through a integrated value chain

Petroleum Refining & MarketingWe support a stable supply of petroleum products that are essential to our daily lives throughout our supply chain from procuring the crude oil to refining it and selling petrolium products at our appropriately 13,000 ENEOS service stations.Furthermore,we implement a variety of programs at our service station to address various customer needs, such as incorporating convenience store or cafe facilities.

Electricity and Gas ProviderWe began providing home electric power under the ENEOS Denki brand in April 2016, available throughout Japan* as of June 2020. As of end of September, 2020, appropriately 720,000 households have chosen ENEOS Electric as their electricity provider. Furthermore, we also launched municipal gas services for households under the ENEOS Municipal Gas brand in February 2018, within "the Tokyo area " covered by Tokyo Gas Co., Ltd. As of end of September, 2020, ENEOS Municipal Gas supplies roughly 80,000 households.

ENEOS Denki and ENEOS Toshi Gas brand logos

"EneJet", the Self Service Station Brand

Waste Plastic RecyclingBusiness CreationOne environmentally-friendly business we are pursuing developing technologies for chemical recycling of waste plastics to reuse them for the production of petroleum and other petrochemical products. This involves use of refineries to break down waste plastics into oils that are usable as raw materials for petroleum and petrochemical products. We are working on this technology in partnership with Mitsubishi Chemical at the Kashima industrial complex.

Add High Value to PetroleumSupplying petrochemicals from manufacturing bases all over the world

Waste plastic recycling concept

PetrochemicalsPetrochemical products have become indispensable in all aspects of our lives, from plastic and polyester clothing to automotive tires, paints, and more. We have the greatest supply capacity* in each nation in Asia for paraxylene, the raw material used to produce polyester, and propylene, which is used to make plastics - substances that will continue to see rising demand in the future. Furthermore, we are also emphasizing derivative products, which are expected growing demand for in the future. Quite recently,we began turning refineries into chemical refineries to accommodate increased production of petrochemicals.

Lubricants

Clothes made with polyester, fibermade from processed paraxylene

FOCUS FOCUS

External sales basis

*Excluding Okinawa and outlying islands

Improving The Efficiency ofOur Base Businesses

●Ef�cient re�nery operation●Improve the ef�ciency of supply and logistics●Ef�cient operation of sservice stations

Creating InnovativeNew Products and Services●Building a business model through

matching●Digital marketing●Speed up and improving the ef�ciency of

development of new materials and media●Participating in the energy platform

business

"ENEOS X PRIME",New Service Station Oil

10 11

12 13

Seeking to Create Innovative BusinessWe are strengthening open innovation , as a growth driver for achievement of our long-term vision. Our Group is using the corporate venture capital ̶ENEOS Innovation Partners̶wholly funded by ENEOS Holdings to accelerate partnerships with start-up companies that have advanced technology and superior business ideas in specific fields.

Seeking Solutions to Social IssuesWe care about finding solutions for social issues. Headquarters, refineries, plants and our group commpanys take part in projects that contribute to the society throughout the year.

We are fostering a corporate culture that embraces challenges and accepts failure as a learninga opportunity at the same time as its collaboration with outside entities. The Challenge X program, which aims to foster in-house entrepreneurship to commercialize the ideas of individual employees, is one such initiative.Any employee can freely submit their own ideas, and those who score high in the evaluation will then be allowed to start their own internal ventures. We will accelerate the creation of new value by utilizing the unique ideas of a diverse range of human resources.

Pursuing collaboration with start-up companies in three core domains

Business Creation Initiative

Forest Stewardship Activities in ENEOS no Mori Greenbelt Biodiversity Conservation

We conduct the forest stewardship activities at 7area across Japan in partnership with local governments, the National Land Afforestation Promotion Organization (NLAPO) and others. We work on forest conversation initiatives, inviting members of specialized non-profits in each area to plant trees, cut grass and underbrush, and otherwise help conserve forests alongside Group employees and their families.

The biotope at the Chita Plant and the greenbelt built at the Negishi Refinery both form biological networks that connect with neighboring green areas, and are home to a variety of species. Our internal biodiversity conservation initiatives have won high praise, as well as recognition as an Enterprize in Harmony with Natural Life by the Association for Business Innovation in Harmony with Nature and Community.

Environmental Conservation

A Bouquet of Children's Stories Summer Holiday Science Bus Tour

Every year since 1970, we have called for submissions from the general public of original children's literature on the theme of "heart-to-heart contact.The stories selected for the top prizes in the ENEOS Children's Story Award, as well as those selected for honorable mention, are published in a book cal led 'A Bouquet of Children's Stories.' We donate copies of the book to educational institutions and welfare facilities nationwide, as well as to Japanese schools overseas, etc. As of 2019, the program had supported a total of 6,842 children with 640 million yen of funds.

At the refineries, Summer Holiday Science Bus Tours for elementary school students and their guardians are run in collaboration with various newspaper companies around the country.Groups are taken on bus tours of refineries, where they enjoy learning about refinery processes and the importance of energy resources. These tours are useful for the self-led research homework assigned to students over the summer holiday.

Childcare Support

Support for Disabled Sports Children's Cultural and Music Awards

In order to support wheelchair basketball and baseball for the disabled, We have sponsored the J apan Whee lcha i r Baske tba l l Federation since 2006, and the Japan Dream Baseball League since 2007. Many of our employees and their families attend the tournaments to cheer for the athletes and also volunteer to provide operational support and assistance.

The Children's Culture Award (founded in 1966) and the Music Awards (founded in 1971) are presented by our Group to recognize contributions to the development and improvement of music and children's culture in Japan, and to encourage future achievements.Recipient of the Awardare selected from a variety of fields, such as children's illustrator, educator, children's newspaper editor, chair of musical production.

Supporting Sports and Culture

Basketball Clinics ENEOS Baseball Lessons

The ENEOS baseball team's players and OB host baseball lessons all ove r J apan . The le s sons a re designed to promote the sport to local e lementary and middle school children, teaching them play techniques.

S ince 1995 , we have hos ted around 70 basketball clinics each year for elementary school and junior high school students, at locations all around Japan. The clinics are aimed to popularize basketball and teach basketball techniques by act ive players from the ENEOS Sunflowers.

Supporting Sports and Culture /Childcare Support

Open Innovation Corporate Citizenship

FY 2019 Award-WinningThemes

Iza-jp driving tourismfor foreign nationals

BYDDevelopment of a lease, reuse and recycle model for EV bus storage batteries

Open StreetConstruction of a mobilitystation network

LuupPromoting growth ofcompact electric-powered mobility solutions

APBManufacture and utilizationof all-polymer batteries

AmpleBattery replacement solutionsfor the growth of EV

SENSYN ROBOTICSConstruction of drone stations

SkyDriveConstruction ofair mobility stations

AgritreePromoting growth ofsolar sharing

QunaSysAccrleration of R&D drivenby quantum computing

JWAT WAVELocal production andconsumption ofrenewable energy

Mountain GorillaSupport for the improvementof operations through digitalization of work flow for paper record keeping

MIRAI-LABOPromoting the utilization of reusable batteries and the growth of solar pavement

AGRISTDevelopment of robots forautomation of crop harvesting

E-ThermoGentek Co., Ltd.Use of waste heat withthermoelectric devices

Chitose Bio Evolution Pte. LtdUtilization of algae biomass

Grand Prize

Partners (as of the end of October, 2020)Partners (as of the end of October, 2020)

● Reduction of sericulture costs using novel technology

● Sekaifu Genki Project: Providing clothing using “sekaifu” that connects the world

A New Program Promoting Internal Ventures

Runner Up

Preferred NetworksPlant automation anddiscovery ofnew materials using AI

Other Open Innovation in the Energy SectorOther Open Innovation in the Energy Sector

Community Development/Mobility Innovative, Leading Edge TechnologiesLow-Carbon Society, /

Recycling-Oriented Society

November 2018

December 2018

June 2019

EEI No. 4 Fund

Mirai Creation No. 2 Fund

Partners No. 3 Fund

Investment in Venture Capital FundsCollaboration withStartup Partnerships

Virta (Finland)Use of smart charging technologies in Japan

ZeroSpecOptimization of kerosene shipping throughIoT technologies

Collaboration withAcademic Institutions

Tokyo Institute of Technology/LGJoint research courses in development offunctional material and electronic device

Waseda University ENEOS LabInnovative technical research for CO2 reductions

ENEOS Group Philosophy LocationsMission

Harnessing the Earth’s power for the common good and for the day-to-day life of each individual,we will contribute to the development of our communities and help to ensure a vibrant future through creation and

innovation in energy, resources, and materials

Our Core Values

Supporting day-to-day life

High ethical standardsBased on our core principles of integrity and fairness, we conduct all of our business

activities in accordance with our high ethical standards

Health, safety,and environment

We give the highest priority to health, safety and environmental initiatives, which are vital to the well-being of all living things.

Focus on customersWe strive to meet the

expectations and evolving needs of our valued

customers and of society as a whole through the reliable provision of products and services, while creating new value as only we can.

Moving forwardLooking to the future, we continue to grow, both as

individuals and as a company, through the personal and professional development of each and every employee.

Taking on challengesTaking changes in stride, we rise to the challenge of creating new value while seeking

innovative solutions for today and tomorrow.

As a member of the community For a vibrant future

Integration and company name changein June 2021 (day of the General Meeting of Shareholders)

Crude oil andnatural gas production 110 thousand barrels/day

Crude oil equipment (FY 2019 actual)

JX Nippon Oil & Gas Exploration Corporation

Equity entitledcopper mine production

JX Nippon Mining & Metals (Metals)

contained in copper concentrate (FY 2019 actual)

Electronic materials with world No.1 market shares

Market-listed affiliates: NIPPO and others

The ENEOS GroupBecome one of the most prominent and

internationally-competitiveenergy and materialscompany groups in Asia

ENEOS Energy

A leap forward to becomea standout market leader

47％Market Share of domestic sales ofpetroleum productsFiscal Year 2019 actual - No. 1 in Japan

Estableshed presence in the global market

3.62million tons / year‒No. 1in external salesbasis in Asia

/ year‒No. 1in external salesbasis in Asia

Paraxylene:

1.64million tonsPropylene:

ENEOS Holdings

ENEOS Holdings - Consolidated companies: 689 (as of end of March 2020)Japan: 540 - Overseas: 149 (Asia and Oceania: 68, North, Central, and South America: 56, Europe: 21, Middle East and Africa: 4)

Kashima Refinery (KASHIMA OIL CO., LTD.)

Chita Plant

Yokohama Plant

Oita Refinery

Marifu Refinery

Mizushima Refinery

Wakayama Refinery

Sakai Refinery

Kawasaki Refinery

Chiba Refinery

Sendai Refinery

Negishi Refinery

Head Office

JX Nippon Finance Netherlands B.V.Nippon Oil Finance （Netherlands） B.V.Amsterdam, NetherlandsENEOS Europe LimitedENEOS EMEA LimitedLondon, UKJX Nippon Oil & Energy （RUS）, LLCMoscow, RussiaJX Nippon ANCI SASProvence, FranceJX Nippon Oil & EnergyMiddle East & Africa FZEDubai, UAEAbu Dhabi OfficeAbu Dhabi, UAETianjin Nisseki Lubricants ＆ Grease Co., Ltd.Tianjin, ChinaX Nippon (Beijing) Enterprise Management Co., Ltd.Beijing, ChinaShanxi Japan Energy Lubricants Co., Ltd.Yangquan/Taiyuan, ChinaJX Nippon Oil & Energy (Shanghai) Trading Co., Ltd.Shanghai/Beijing/Guangzhou, China

JX Nippon Oil & Energy (Guangzhou) Lubricants Corp.Guangzhou, ChinaJX Nippon TWO LubricantsINDIA Pvt. Ltd. Gurugram and other locations, IndiaENEOS（Thailand）Ltd.Bangkok, ThailandPETRONAS Chemicals Aromatics Sdn BhdKerteh, MalaysiaKuala Lumpur OfficeKuala Lumpur, MalaysiaENEOS Oil & Energy Asia Pte. Ltd.ENEOS ItalSing Pte. Ltd.SingaporeSingapore OfficeSingaporeTQ Holdings Australia Pty LimitedSydney, AustraliaPetro National Pty Ltd.South West Fuel Centre Pty Ltd.Oilsplus Holdings Australia Proprietary Ltd.ENEOS Australia Pty Ltd.Sydney, Australia

ENEOS Korea CorporationSeoul, KoreaYubase Manufacturing Asia Co., Ltd.Ulsan, KoreaMi Chang Oil Industry Co., Ltd.Busan, KoreaENEOS HIGH PERFORMANCE MATERIALS(TAIWAN) CO., LTD.Taipei, TaiwanTAIWAN ENEOS CO., LTD.Kaohsiung, TaiwanJX Nippon Oil and Energy PhilippinesManila, PhilippinesJX Nippon Oil & Energy Vietnam Consulting and Holdings Co., Ltd.Hanoi, VietnamJX Nippon Oil & Energy Vietnam Co., Ltd.Hanoi/Hai Phong/Ho Chi Minh City, VietnamPT. JX Nippon Oil & Energy Lubricants IndonesiaBekasi, IndonesiaPT. Nippon Oil IndonesiaJakarta, IndonesiaENEOS Canada Ltd.Vancouver, Canada

JX Nippon Oil & Energy USA Inc. Los Angeles Branch OfficeLos Angeles, USAJX Nippon Chemical Texas Inc.Sunrise Chemical LLCPasadena, USAJX Nippon Oil & Energy USA Inc.Chicago, USAENEOS Americas Inc.New York OfficeNew York, USAJX Nippon ANCI,Inc.Kennesaw, USAJX Nippon Oil & Energy USA Inc.Lubricants Alabama PlantChildersburg, USAJX Nippon ANCI, Inc. Roanoke PlantRoanoke, USAENEOS Americas Inc. Houston OfficeHouston, USAENEOS Mexico, S.A. de C.V.Mexico City, MexicoJX Nippon Oil & Energy do Brasil Comércio de Lubrificantes Ltda.São Paulo, Brazil

①

②

③

④

⑤

⑥

⑦

⑧

⑨

⑩

⑪

⑫

⑬

⑭

⑮

⑯

⑰

⑱

⑲

⑳

㉑

㉒

㉓

㉔

㉕

㉖

㉗

㉘

㉙

㉚

㉛

32

33

34

35

36

37

38

39

40

⑲⑱

⑰ ⑯⑮

⑭⑬⑫

⑪ ⑩

⑨

⑧ ⑦

⑥

⑤

④

③

②①

4039 38

37

363534

33

32

㉛

㉚

㉙

㉘

㉗㉖㉕

㉔㉓㉒

㉑

⑳

Central Technology Research Lab

■Manufacturing site●Sales hub, office, etc. (Including mergers and　companies invested in)

▲Headquarters　◆Research lab　●Refinery/Plant

Company Profile

Overseas

Japan

thousand tons/year210

Refined copperproduction capacity thousand tons/year450

14 15