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The Cosmo Energy Group Is Making a New and Vigorous Step Forward

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The Cosmo Energy Group Is Making a New and Vigorous Step Forward COSMO REPORT 2019 About the Cosmo Energy Group Long-Term Vision The Cosmo Energy Group is making a new and vigorous step forward. Enhancing the earnings strength of the petroleum related businesses and growing the renewable energy business into a new main business segment. What have not changed What to be changed Stable supply of energy Growing the renewable “Customer First” mindset energy business into a new Energy-related business domains main business segment Composition of ordinary income (excluding the impact of inventory valuation) Renewable energy Petroleum Others Petroleum Renewable energy and others Petroleum and others (Mainly wind power generation) (Mainly wind power generation) Petrochemical Petrochemical Future FY2018 FY2022 business Consolidated Medium- portfolio Term Management Oil E&P* Plan Image Oil E&P* Oil E&P* Petrochemical * Oil exploration & production 1997 Petroleum 1989 Launched IPP (Independent Power 1986 Asian Oil was merged Producer) operations. into Cosmo Oil. Oil E&P Cosmo Oil was established through Qatar Petroleum tripartite merger of Daikyo Oil, Maruzen Oil, Development and the former Cosmo Oil (Cosmo Refining). was established. 1933 : Maruzen Oil was established. 1939 : Daikyo Oil was established. 1952 : Asian Oil was established. 1968 : Abu Dhabi Oil was established2. 1970 : United Petroleum Development was established. FY 1986 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 1. See pages 41 and 42 on the impact of inventory valuation. 2. Daikyo Oil and Maruzen Oil (Cosmo Energy Group, currently) and Nippon Mining (JXTG Group, currently) made joint investments to establish Abu Dhabi Oil. 3. GC: Global Compact 4. International Petroleum Investment Company (IPIC) merged with Mubadala Development Company (MDC), an energy-related investment management company fully owned by the Emirate of Abu Dhabi, to become Mubadala Investment Company (MIC) at present. 5. HCP: Hyundai Cosmo Petrochemical. A 50:50 joint venture company with Hyundai Oilbank (HDO) in South Korea. 6. Cosmo Oil, Showa Shell Sekiyu (currently Idemitsu Kosan), Sumitomo Corporation, and TonenGeneral Sekiyu (currently JXTG Energy) jointly invested to establish Gyxis. (Cosmo Energy Holdings, Idemitsu Kosan, Sumitomo Corporation have investment in Gyxis as of July 2019) The Consolidated About the Cosmo Message from the Financial Strategy Financial Analysis Medium-Term CSR President and CEO 05 Energy Group Management Plan 2017 Petroleum Entered into a capital alliance with Kygnus Sekiyu. Entered into a business alliance in the Yokkaichi area with the Idemitsu-Showa Shell Sekiyu Group (Showa Yokkaichi Sekiyu). Oil E&P The new Hail Oil Field began production. 2011 2016 Crude oil price Ordinary (Dubai) Oil E&P income (USD/bbl) Abu Dhabi Oil agreed main terms and conditions Petrochemical (excluding the impact for concession renewal and a new concession Maruzen of inventory area (Hail). Petrochemical became valuation) a consolidated (billion yen) 2010 subsidiary. Petroleum Entered the car leasing 129 2007 business for individuals. IPIC4 became our largest shareholder. 100 120 2006 Agreed to the United 107.4 Nations Global Compact3. 2015 2005 Transformed to a holding company structure. Petrochemical 2009 CM Aromatics was Petroleum established. Gyxis Corporation6, an Profit decreased due to the integrated LPG business global financial crisis. 2004 operator, was 75 90 Petrochemical established. 5 Renewable energy HCP was established, and entered para-xylene business. Commencement of 2014 Commercial Operation Renewable energy of Cosmo Oil Sakata Acquired shares of Eco Power Wind Power Plant (currently Cosmo Eco Power). Began strategic comprehensive cooperation 2002 with CEPSA. Profit decreased due to the economic recession. 50 60 2001 Oil E&P Abu Dhabi Oil implemented the Zero Flare Project at its oil production facility for the first time in the Middle East region. 25 30 0 0 2000 '01 '02 '03 '04 '05 '06 '07 '08 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 2022 '09 Special Feature: Uniqueness and Review of Operations Corporate Governance Financial Section Outline Competitive Advantages 06.
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