Itochu Enex : Changes in Representative Director, Officers and Reorganization

Company:	Itochu Enex Co., Ltd.
Representative:	Kenji Okada, Representative Director, President and CEO
Stock code:	8133, Tokyo Stock Exchange, 1st Section
Contact:	Masahiko Aoyagi
	Manager, Corporate Communications Office
	Tel: [phone]
	Changes in Representative Director, Officers, and Reorganization

Itochu Enex Co., Ltd. resolved the following with respect to changes in Representative Director, Officers and reorganization at its Board of Directors' meeting held on February 4, 2022.

1. Reasons for the change in Representative Director Further strengthening of management structure.
2. Details of the change in Representative Director

1. Name and title of the newly appointed Representative Director.

[Newly appointed Representative Director] Name : Tomofumi Yoshida

New Position: Representative Director, Executive Vice President

1. Scheduled date of appointment
   Date of the annual general meeting of shareholders scheduled for June 2022.
2. Brief history of the newly appointed Representative Director

[Name]	Tomofumi Yoshida
[Date of Birth and Age]	September 5, 1956
[Career Summary]	April 1979	Joined ITOCHU Corporation
	April 2007	Executive Officer
	April 2010	Managing Executive Officer
	April 2012	President,ICT,General Products ＆ Realty Company
	June 2012	Member of the Board, Managing Executive Officer
	April 2014	Member of the Board, Senior Managing Executive Officer
	April 2016	Senior Managing Executive Officer
		President ＆ CEO, ITOCHU International Inc.
	April 2018	President, General Products ＆ Realty Company（to date）
	June 2018	Member of the Board, Senior Managing Executive Officer
	April 2019	Member of the Board, Executive Vice President（to date）

1. Number of shares held 0 shares

Itochu Enex Co., Ltd.

3. Changes in Directors and Officers < As of March 31, 2022 > [Retiring Directors]

	Name	New Position	Current Position
	Fumio Shimizu	―	Director and Managing Officer
	Hisato Okubo	―	Director
[Retiring Executive Officers]
	Name	New Position	Current Position
	Tsukasa Nakamura	―	Managing Officer
	Shigeru Kondo	―	Executive Officer

• As of April 1, 2022 > [Promotion of Executive Officer]

	Name	New Position	Current Position
	Tatsuro Utsumi	Managing Officer	Executive Officer
[New Executive Officers]
	Name	New Position	Current Position
	Kenji Sekiya	Executive Officer	―
	Ken Watanabe	Executive Officer	―
	Naotoshi Noda	Executive Officer	―
	Kunio Nishimura	Executive Officer	―

Itochu Enex Co., Ltd.

[Change in Officers]

Name	New Position	Current Position
	Director and Senior Managing Officer	Director and Senior Managing Officer
	Chief Compliance Officer,
Kyosuke Wakamatsu	Chief Compliance Officer,
and Chief Operating Officer, Corporate
	Assistant to Chief Executive Officer
	Administration DivisionⅡ.
	Director and Managing Officer	Director and Managing Officer
	Chief Financial Officer,	Chief Financial Officer,
Atsushi Katsu	Chief Information Officer,	Chief Information Officer,
	and Chief Operating Officer, Corporate	and Chief Operating Officer, Corporate
	Administration DivisionⅠ	Administration Division
		Executive Officer
	Executive Officer	Deputy Chief Operating Officer,
Minoru Kubota	Deputy Chief Operating Officer,	Corporate Administration Division and
	Corporate Administration DivisionⅡ	General Manager, Legal & Credit Control
		Department
	Executive Officer
	Assistant to Chief Financial Officer,	Executive Officer
Shinichiro Inoue	Deputy Chief Operating Officer,	Assistant to Chief Financial Officer, and
Corporate Administration DivisionⅠ , and	General Manager, Finance & General
	General Manager, Finance & General	Accounting Department
	Accounting Department
	Executive Officer	Assistant to Chief Operating Officer,
	Deputy Chief Operating Officer,	Industrial Business Division, and
Ken Watanabe	Industrial Business Division, and	General Manager, Planning &
	General Manager, Platform Promotion	Administration Department, and
	Department	Retail Business Office
	Executive Officer
	Deputy Chief Operating Officer,	General Manager, Power & Financial
Naotoshi Noda	Power & Utility Division, and	Business Department
	General Manager, Power & Financial	Power & Utility Division
	Business Department
	Executive Officer	General Manager, Corporate Planning
	Department, and
Kunio Nishimura	General Manager, Corporate Planning
General Manager, Human Resources &
	Department.
	General Affairs Department

Itochu Enex Co., Ltd.

[Candidates for new Directors]

	Name	New Position	Current Position
	Tatsuro Utsumi	Director and Managing Officer	Managing Officer
	Yasuhiro Imazawa	Director and Executive Officer	―
	Takuya Morikawa	Director (outside)	―
[Candidates for new Audit & Supervisory Board Member]
	Name	New Position	Current Position
	Shuji Katsurayama	Standing Audit & Supervisory Board	―
	Member
[Change in Officer]
	Name	New Position	Current Position
		Director and Executive Officer
		Chief Financial Officer,
	Yasuhiro Imazawa	Chief Information Officer,	―
		and Chief Operating Officer, Corporate
		Administration DivisionⅠ .

4. Reorganization

< As of April 1, 2022>

(1) Purpose of reorganization

Influenced by the trend toward a carbon-free society, the situation in the petroleum product-related business may become severe. However, the situation also requires that we take advantage of changes in the environment, promote growth in the electric power and environment fields, and create new business opportunities. To increase the flexibility of our activities, we will change part of our corporate structure.

1. Details of reorganization

1. Reorganization of Division.
   We will reorganize the Corporate Administration Division into two divisions: Corporate Administration Division I and Corporate Administration Division II.
2. Reorganization of Departments/Branches [Car-Life Division]

・We will reorganize seven branch offices (the Hokkaido Branch, Tohoku Branch, East Japan Branch, Chubu Branch, Kansai Branch, Chugoku & Shikoku Branch, and Kyushu Branch) into four sales departments (the North Japan Sales Department, East Japan Sales Department, West Japan Sales Department, and Kyushu Sales Department).

Itochu Enex Co., Ltd.

・We will rename the Supply Department the Retail Supply Department. [Industrial Business Division]

・We will reorganize the Motor Solution Department the Platform Promotion Department.

・We will rename the Balancing and Origination Department the Supply & Terminalling Department. [Corporate Administration Division I]

We will place the Finance & General Accounting Department and IT Planning Department under its umbrella.

[Corporate Administration Division II]

We will place the Legal & Credit Control Department and Human Resources & General Affairs Department under its umbrella and establish a new Corporate Administration Department.

Itochu Enex Co., Ltd.