Cosmo Energy : Overview of Business Results of Second Quarter of Fiscal Year Ending March 2025 (25e 2q all)

Summary of Consolidated Financial Results (Japanese GAAP) for the First Half of Fiscal Year Ending March 31, 2026

November 11, 2025

Listed company: Cosmo Energy Holdings Co., Ltd.

Securities code: 5021

Representative: Shigeru Yamada, Representative Director & Group CEO

Listed: Tokyo Stock Exchange

URL https://www.cosmo-energy.co.jp/

Contact: Masahiro Oikawa, General Manager of Corporate Communication Department Scheduled date of file semi-annual securities report: November 11, 2025

Scheduled date of commencement of dividend payment: December 12, 2025

Creation of supplementary results materials: Yes

Results briefing: Yes (for analysts and institutional investors)

Phone: [phone]

Note: Figures less than I million yen are rounded down.

1. Consolidated Financial Results for the First Half ofFiscal Year Ending March 2026 (from April 1, 2025 to September 30, 2025)

   1. Consolidated Operating Results (cumulative total) (% indicates changes from the corresponding period ofthe previous fiscal year)

      	Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
      	million yen	%	million yen	%	million yen	%
      First Half, FY2025	1,333,782	1.0	60,254	46.2	53,208	-9.5	23,631	14.5
      First Half, FY2024	1,321,131	1.0	41,213	-45.7	58,790	-29.2	20,639	-56.1

      Note : Comprehensive income First Half, FY2025 : 28,018 million yen (14.7 %) First Half, FY2024 : 24,428 million yen (-55.8 %)

      Net income per share

      yen sen

      First Half, FY2025 143.93

      First Half, FY2024 118.58

      Diluted net income per share

      yen sen

      Note : The Company conducted a 2-for-1 split of its common shares, effective October 1, 2025. Net income per share has been calculated as if the share split had been conducted at the beginning of the previous consolidated fiscal year.

   2. Consolidated Financial Position

   million yen

   million yen

   
   
   

   Total assets Net assets

   Net worth ratio

   First Half, FY2025 2,114,875 717,048

   FY2024 2,156,605 707,477

   [Reference] Net worth First Half, FY2025 : 590,414 million yen FY2024 : 584,782 million yen

2. Dividend Payment Results and Forecast

   27.9

   27.1

   FY2024 FY2025	- -	150.00 150.00	yen sen	yen sen 180.00	yen sen 330.00
   FY2025 (forecast)			-	90.00

   Notes : 1 Revision made in the dividend payment forecast as of the end of the current first half from the previous announcement : None

   2 The Company conducted a 2-for-1 split of its common shares, effective October 1, 2025. The interim dividend per share for the first half of the fiscal year ending March 31, 2026 is calculated based on the number of shares before the share split. The forecast for the year-end dividend for the fiscal year ending March 31, 2026 is calculated by taking the share split into consideration. The forecast for the annual dividend is not disclosed because a simple aggregation for the full year cannot be obtained due to the share split. If share split is not taken into consideration, the annual dividend per share for the fiscal year ending March 31, 2026 (forecast) will be 330 yen (the interim dividend per share: 150 yen, the year-end dividend: 180 yen).

3. Consolidated Business Forecast for Fiscal year ending March 31, 2026 (from April 1, 2025 to March 31, 2026)

(% indicates changes from the corresponding period of the previous fiscal year)

	Net sales		Operating profit		Ordinary profit		q'b b iI		Net income per share
FY2025	million yen 2,580,000	% -7.9	million yen 123,000	% -4.1	million yen 121,000	% -19.7	million yen 53,000	% -8.1	yen sen 323.76

Notes : 1 Revision made in the consolidated business forecast as of the end of the current first half from the previous announcement : None

2 The Company cancelled treasury shares on August 29, 2025 and conducted a 2 for 1 split of common shares on October 1, 2025. The impact ofboth is taken into consideration when calculating the net income per share in the consolidated forecasts for the fiscal year ending March 31, 2026. For more information regarding the cancellation of treasury shares, please refer to "2. Semi-annual consolidated Financial Statements and Significant Notes, (4) Notes to semi-annual consolidated financial statements (Notes to remarkable changes in shareholders' equity)" on page 9 of the Accompanying Materials.

Notes

1. Significant changes in the scope of consolidation during the period: Yes

   New: - Exclusion: 1 company (Company name: Yokkaichi Kasumi Power Co., Ltd.)

   Note : Please refer to "2. Semi-annual consolidated Financial Statements and Significant Notes, (4) Notes to semi-annual consolidated financial statements (Notes on changes in scope of consolidation or application of the equity method)" on page 9 of the Accompanying Materials for details.

2. Application of accounting methods which are exceptional for preparing the semi-annual consolidated financial statements: None

3. Changes in accounting policies, changes in accounting estimates, restatements

   1. Changes in accounting policies due to revisions to accounting standards, etc.: None

   2. Changes in accounting policies other than those set out in 1): None

   3. Changes in accounting estimates: None

   4. Restatements: None

4. Number of shares issued (ordinary shares)

   1. Number of shares issued at the end of the period (including treasury shares)

      First Half, FY2025 165,041,722 shares FY2024 176,707,522 shares

   2. Number of treasury shares at the end of the period

      First Half, FY2025 923,076 shares FY2024 11,406,906 shares

   3. Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)

First Half, FY2025 164,188,454 shares First Half, FY2024 174,051,462 shares

Note : The Company conducted a 2-for-1 split of its common shares, effective October 1, 2025. The number of shares issued at the end of the period, number of treasury shares at the end of the period, and average number of shares outstanding during the period are calculated as if the share split had been conducted at the beginning of the previous fiscal year.

Note : Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm. Note : Explanation regarding the proper use ofbusiness forecasts and other special notes

The consolidated business forecast for the full year ofFY2025 is not updated from the previous announcement made onMay 13, 2025.

The business forecast above has been created based on the information available as of the date of the publication of this summary. Actual results may be different from the forecast due to a variety of factors. For more information about the results forecast, please refer to "1.Overview of Operating Results, etc. (3)Explanation concerning information regarding consolidated business forecast" on page 2 of the Accompanying Materials.

Supplementary results materials will be posted on the Company's website on Tuesday, November 11, 2025.

Accompanying Materials - Contents

1. Overview of Operating Results, etc.

   1. Summary of Operating Results .........................................................................................................

   2. Summary ofFinancial Position .........................................................................................................

   3. Explanation concerning information regarding consolidated business forecast ..................................................

2. Semi-annual Consolidated Financial Statements and Significant Notes

   1. Semi-annual consolidated balance sheet .............................................................................................

   2. Semi-annual consolidated statement of income and semi-annual consolidated statement of comprehensive income

      Page 2

      2

      2

      3

      Semi-annual consolidated statement of income..................................................................................... 5

      Semi-annual consolidated statement of comprehensive income.................................................................. 6

   3. Semi-annual consolidated statement of cash flows .................................................................................. 7

   4. Notes to semi-annual consolidated financial statements

(Notes to the going concern assumption) ............................................................................................. 9

(Notes on changes in scope of consolidation or application of the equity method).............................. 9

(Notes to remarkable changes in shareholders' equity).............................................................................. 9

(Notes to segment information, etc.)................................................................................................... 9

(Notes to significant subsequent events) ............................................................................................. 10

1. Overview of Operating Results, etc.

   1. Summary of Operating Results

      Consolidated net sales for the first half ofFY2025 were 1,333.8 billion yen (up 12.7 billion yen year on year), operating profit 60.3 billion yen (up 19.1 billion yen year on year), ordinary profit 53.2 billion yen (down 5.6 billion yen year on year) and profit attributable to owners ofparent for the period 23.6 billion yen (up 3.0 billion yen year on year).

      The operating results for the first half ofFY2025 by business segment are as follows :

      1. In the petroleum business segment, the segment reported net sales of 1,181.5 billion yen (up 5.6 billion yen year on year), about the same level as the same period of the previous year. On the other hand, due mainly to solid domestic margins, a segment profit of24.1 billion yen (up 11.6 billion yen year on year).

      2. In the petrochemical business segment, due mainly to an increase inproduct selling volume from the same period of the previous year, the segment reported net sales of 174.5 billion yen (up 14.0 billion yen year on year). On the other hand, due mainly to a continued sluggish product market conditions, a segment loss of2.2 billion yen (a segment loss of 4.3 billion yen in the same period of the previous year).

      3. In the oil exploration andproduction business, due mainly to an increase in sales volume of crude oil from the same period of the previous year, the segment reported net sales of 65.4 billion yen (up 3.1 billion yen year on year). On the other hand, due mainly to the effect of foreign exchange rates, a segment profit of24.1 billion yen (down 20.9 billion yen year on year)

      4. In the renewable energy business segment, due mainly to the commencement of operations at new onshore project sites, the segment reported net sales of 6.1 billion yen (up 1.3 billion yen year on year) and a segment loss of 0.6 billion yen (a segment loss of 0.9 billion yen in the same period of the previous year).

   2. Summary ofFinancial Position

      As for the consolidated financial position as of the end of the first half ofFY2025, total assets as of September 30, 2025 amounted to 2,114.9 billion yen, down 41.7 billion yen from March 31, 2025, the end ofFY2024. This was mainly due to a decrease in inventories. Net assets as of September 30, 2025 amounted to 717.0 billion yen with a net worth ratio of27.9%.

   3. Explanation concerning information regarding consolidated business forecast

   The consolidated business forecast for the full year ofFY2025 is not updated from the previous announcement on May 13, 2025.

2. Semi-annual Consolidated Financial Statements and Significant Notes

(1) Semi-annual consolidated balance sheet

Assets

Current assets

(Unit : million yen)

FY2024 IH FY2025

(As ofMarch 31, 2025) (As of September 30, 2025)

Cash and deposits	126,926	126,673
Notes receivable - trade	3,277	3,166
Accounts receivable - trade	349,693	351,210
Merchandise and finished goods	196,306	216,236
Work inprocess	645	581
Raw materials and supplies	253,701	208,601
Other	148,599	124,512
Allowance for doubtful accounts	-41	-25
Total current assets	1,079,108	1,030,957
Non-current assets
Property, plant and equipment
Buildings and structures, net	237,020	239,422
Machinery, equipment and vehicles, net	214,991	231,755
Land	313,679	313,666
Other, net	105,683	96,157
Total property, plant and equipment	871,374	881,002
Intangible assets	43,559	43,940
Investments and other assets
Investment securities	98,538	98,368
Other	64,141	60,738
Allowance for doubtful accounts	-243	-240
Total investments and other assets	162,436	158,867
Total non-current assets	1,077,370	1,083,810
Deferred assets
Bond issuance cost	126	107
Total deferred assets	126	107
Total assets	2,156,605	2,114,875