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Supplementary Information ～ ENEOS Group ～ Contents Security Code Tokyo 5020 August 12, 2020 Supplementary Information ～ ENEOS Group ～ Contents Overview of ENEOS Group 2 Financial Results Financial Results Data 4 Business Environment and Data Energy Segment Metals Segment Petroleum Products and Petrochemicals Business 11 Functional Materials / Thin Film Materials / Tantalum Overseas Business Projects 24 and Niobium Business Principal Products and Applications 48 Electric Power Business Copper Business 50 – Electricity and City Gas 25 Overseas Copper Mine Development 51 – Renewable Energy 26 1 Worldwide Copper Cathodes Supply & Demand 52 Material Business 16 Earnings Structure of Copper Smelting and Refining Business 53 – High Performance Materials 27 17 Recycling and Environmental Services 54 – Lubricants 28 Metal Group Affiliates 18 55 Oil and Natural Gas E&P Segment Business Area 30 Business Activities 31 Sales Volume and Reserves of Principal Oil and Natural Gas E&P Projects 32 Production Schedule of Principal E&P Projects 33 Principal Individual E&P Project Overview 35 ENEOS Group’s Reserve Standards 46 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 1 Overview of ENEOS Group Aiming to develop into one of the most prominent and comprehensive energy, resources and materials company groups in Asia JX Nippon Oil & Gas Exploration Crude oil and natural gas production (a project company basis) thousand 110 barrels/day Crude oil equivalent (FY2019 actual) Market Share of domestic sales of petroleum products JX Nippon Mining & Metals 47％ Equity entitled copper mine production FY2019 actual: No. 1 in Japan thousand 210 tons/year contained in copper concentrate (FY2019 actual) Petrochemicals Supplying Capacity ※1 Paraxylene million Refined copper production capacity No. 1 in Asia 3.62 tons/year thousand 450 tons/year Propylene million No. 1 in Asia 1.7 tons/year Electronic Materials Power Generating Capacity Products with world No.1 market shares Renewable Energy 1.62 mW 123 thousand kW Listed subsidiaries (as of June 30, 2020) ※1 External sales basis NIPPO Copyright © ENEOS Holdings, Inc. All Rights Reserved. 2 Financial Results Copyright © ENEOS Holdings, Inc. All Rights Reserved. 3 Financial Results Data / IFRS Financial Summary IFRS FY2019 FY2020 1Q Full Year 1Q Full Year Forecast (JPY billion) Actual Actual Actual (May 2020) Net Sales 2,514.8 10,011.8 1,546.2 7,340.0 Energy 2,129.9 8,419.4 1,195.8 6,070.0 Oil and Natural Gas E&P 31.7 133.4 22.7 103.0 Metals 247.6 1,004.4 221.7 813.0 Others 105.6 454.6 106.0 354.0 Operating Income (Loss) 49.3 (113.1) 21.0 110.0 Energy 13.0 (162.8) (18.4) 35.0 Oil and Natural Gas E&P 13.2 (38.8) 0.7 0.0 Metals 15.3 44.6 19.2 29.0 Others 7.8 43.9 19.5 46.0 Finance Income (Loss) (6.8) (22.7) (6.4) (25.0) Energy (1.4) (4.0) (0.8) (5.0) Oil and Natural Gas E&P (0.5) (5.8) (2.4) (9.0) Metals (5.3) (15.7) (2.9) (13.0) Others 0.4 2.8 (0.3) 2.0 Profit attributable to owners of parent 17.4 (187.9) (4.9) 40.0 Energy 4.5 (162.6) (20.6) 20.0 Oil and Natural Gas E&P 6.9 (62.4) (4.6) (11.0) Metals 4.0 16.6 12.8 11.0 Others 2.0 20.5 7.5 20.0 Capex 69.5 371.3 59.1 426.0 Depreciation and Amortization 78.3 266.5 79.7 271.0 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 4 Financial Results Data / IFRS Operating Income by segment IFRS FY2019 FY2020 1Q Full Year 1Q Full Year Forecast (JPY billion) Actual Actual Actual (May 2020) Operating Income (Loss) 49.3 (113.1) 21.0 110.0 Energy Segment 13.0 (162.8) (18.4) 35.0 Petroleum Products 7.3 7.5 33.5 40.0 Petrochemicals 1.7 (19.0) (2.7) 20.0 Electric power 3.1 10.8 6.2 5.0 Materials 19.6 44.4 6.8 25.0 Inventory Valuation (18.7) (206.5) (62.2) (55.0) Oil and Natural Gas E&P Segment 13.2 (38.8) 0.7 0.0 Metals Segment 15.3 44.6 19.2 29.0 Functional Matls, Thin Film Matls and others 5.1 14.5 8.5 21.0 Mineral Resources 3.9 14.7 7.0 10.0 Smelting and Recycling 6.0 22.9 6.8 8.0 Non-allocated corporate expenses and others 1.3 (4.2) (3.1) (10.0) Inventory Valuation (1.0) (3.3) - - Others 7.8 43.9 19.5 46.0 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 5 Financial Results Data / IFRS Balance Sheets IFRS Mar. 2020 Jun. 2020 (JPY billion) Actual Actual Assets 8,011.3 7,694.9 Current assets 2,878.6 2,574.4 - Cash and deposits 402.0 468.3 Non-current assets 5,132.7 5,120.5 Property, plant and equipment 3,724.9 3,707.9 Goodwill 185.7 185.5 Intangible assets 345.4 341.2 Others 876.7 885.9 Liabilities 5,303.4 5,064.0 Interest-bearing debt 2,300.8 2,318.6 Other liabilities 3,002.6 2,745.4 Equity 2,707.9 2,630.9 Total equity attributable to owners of the parent 2,311.0 2,235.9 Non-controlling interests 396.9 395.0 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 6 Financial Results Data Dubai Crude Oil Price ($/bbl) FY2019 FY2020 Average Price FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 1Q 2Q 3Q 4Q FY 1Q Dubai Crude Oil 105 83 46 47 56 69 67 61 62 51 60 31 （＄/bbl) 120 100 80 60 40 20 0 Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 7 Financial Results Data Copper Price and Inventory Level (￠/lb) FY2019 FY2020 Average Price FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 1Q 2Q 3Q 4Q FY 1Q Copper 322 297 237 234 292 288 277 263 267 256 266 242 Inventory Level Copper price (1,000t) (￠/lb) 700 350 600 300 500 250 400 200 300 150 200 100 100 50 0 0 Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020 LME Copper inventory level LME Copper price (end of month) (monthly average) Copyright © ENEOS Holdings, Inc. All Rights Reserved. 8 Financial Results Data Exchange Rate (Yen/$) FY2019 FY2020 Average Price FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 1Q 2Q 3Q 4Q FY 1Q Exchange Rate 100 110 120 108 111 111 110 107 109 109 109 108 (Yen/$) 130 120 110 100 90 80 70 Apr. 2013 Apr. 2014 Apr. 2015 Apr. 2016 Apr. 2017 Apr. 2018 Apr. 2019 Apr. 2020 Copyright © ENEOS Holdings, Inc. All Rights Reserved. 9 - Energy Segment - Environment / Data Copyright © ENEOS Holdings, Inc. All Rights Reserved. 10 Energy Segment Domestic Petroleum Product Demand (Petroleum Products and Petrochemicals) Note: Excluding Crude Oil for electric power plants. Source: Petroleum Association of Japan and Company data Copyright © ENEOS Holdings, Inc. All Rights Reserved. 11 ENEOS Group Market Share and Energy Segment 1 Demand in Japan, CDU Utilization Rate (Petroleum Products and Petrochemicals)1 Domestic Market Share Domestic Demand (KKL) Changes 1Q19 1Q20 1Q19 1Q20 vs. 1Q 19 a) Gasoline 49.6% 49.4% a) Gasoline 11,997 9,996 83.3% b) Kerosene 45.9% 39.5% b) Kerosene 2,032 2,227 109.6% c) Diesel Fuel 41.8% 42.9% c) Diesel Fuel 8,265 7,514 90.9% d) Fuel Oil A 46.9% 47.5% d) Fuel Oil A 2,392 2,310 96.6% a+b+c+d 46.4% 46.0% a+b+c+d 24,686 22,047 89.3% 2 2 Total Domestic Fuel 2 47.4% 46.0% Total Domestic Fuel2 37,881 33,072 87.3% 1 CDU Utilization Rate (Excluding the impact of periodic repair) FY2018 1Q19 2Q19 3Q19 4Q19 1Q20 3 ENEOS Group 3 91% 92% 91% 88% 82% 68% NOTES: 1 Crude Distillation Unit 2 Excluding crude oil for electric power plants 3 Excluding condensate splitters of Mizushima and Kashima Source: Petroleum Association of Japan and Company data Copyright © ENEOS Holdings, Inc. All Rights Reserved. 12 Energy Segment Sales Volume by Product (Petroleum Products and Petrochemicals) (ten thousand KL) ENEOS Group Changes vs. 1Q19 1Q20 1Q19 Gasoline 627 494 -21.2% Premium ( 66) ( 52) -21.2% Regular ( 558) ( 440) -21.1% Naphtha 107 87 -18.7% Jet 42 15 -64.3% Kerosene 89 85 -4.5% Diesel Fuel 360 322 -10.6% Fuel Oil A 119 110 -7.6% Heavy Fuel Oil C 77 73 -5.2% For Electric Power (23) (17) -26.1% For General Use (54) (56) +3.7% Total Domestic Fuel 1,421 1,186 -16.5% Crude Oil 0 0 - Lubricants & Specialties 70 66 -5.7% Petrochemicals (ten thousand tons) 238 168 -29.4% Exported Fuel 509 226 -55.6% LPG (ten thousand tons) 16 9 -43.8% Coal (ten thousand tons) 87 110 +26.4% Total Excluding Barter Trade & Other 2,341 1,765 -24.6% Barter Trade & Other 565 517 -8.5% Total 2,906 2,282 -21.5% Copyright © ENEOS Holdings, Inc. All Rights Reserved. 13 Energy Segment Number of Service Stations (Fixed-Type) (Petroleum Products and Petrochemicals) End of End of End of FY2020 FY2017 FY2018 FY2019 Jun. 30 Number of Company-Owned Service Stations End of End of End of FY2020 ENEOS 13,304 12,961 12,757 12,711 FY2017 FY2018 FY2019 Jun.30 Idemitsu Kosan 6,573 6,465 6,384 6,354 ENEOS 3,010 2,954 2,905 2,887 Cosmo Oil 2,858 2,791 2,755 2,760 Other 1 795 792 775 774 Number of Self-Service Stations End of End of End of FY2020 23,530 23,009 22,671 22,599 Oil Companies FY2017 FY2018 FY2019 Jun.30 (76.5%) (76.5%) (76.5%) (76.5%) Private Brands and 7,217 7,061 6,966 6,931 2 ENEOS 4,318 4,361 4,429 4,440 Other (23.5%) (23.5%) (23.5%) (23.5%) 3 Total in Japan 7,920 8,068 8,278 8,316 Total 30,747 30,070 29,637 29,530 2 Notes: 1 Figures are total of Taiyo Oil and Kygnus Sekiyu 2 Estimated by ENEOS 3 Figures include only self-service retail outlets that are affiliated with oil companies Copyright © ENEOS Holdings, Inc.
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