JAPEX Establishes Nomination and Compensation Advisory Committee

Japan Petroleum Exploration Co., Ltd. (JAPEX) resolved the establishment of Nomination and Compensation Advisory Committee (hereinafter "the Committee") under the Board of Directors as below on the board meeting held today, in order to further enhance our corporate governance structure.

1. Purpose of Establishment

Strengthen the supervisory function of the Board of Directors, by further ensuring fairness, transparency, and objectivity of the procedures to make decisions concerning nomination and compensation of the director.

2. Mission of the Committee

Deliberate the subjects below:

• Appointment and dismissal nomination of the director to be discussed on the shareholders meeting
• Selection and dismissal nomination of the representative director
• Appointment and dismissal nomination of the officer
• Compensation and bonus of the director to be discussed on the shareholders meeting
• Other important items concerning nomination and compensation

3. Members of the Committee

Composed of President as the chairman of the Committee, Chairman, and one or more outside director(s) as the committee members.

4. Date of Establishment

March 29, 2019