November 12, 2020

To whom it may concern

Name of the Company:

Cosmo Energy Holdings Co., Ltd.

Name of Representative:

Hiroshi Kiriyama, President

(Company Code: 5021 Shares Traded: TSE First section

Name of Contact Person:

Eeriko Date, General Manager of Corporate Communication Dept.

Phone: 03-3798-3180

Notice regarding the Amendment to the Consolidated Forecast for the Fiscal Year Ending March 31, 2021

Amendments have been made to the consolidated forecast for the fiscal year ending March 31, 2021 as follows:

Amendments to the consolidated forecast for the fiscal year ending March 31, 2021

(Unit: million yen)

Operating

Ordinary

Profit attributable

Net income

Net sales

to owners of

profit

profit

per share

parent

Forecast previously announced (A)

2,040,000

34,500

30,000

14,500

yen sen

(on May 21, 2020)

172.53

Revised forecast (B)

2,170,000

31,000

27,000

8,500

101.44

Change (B-A)

130,000

-3,500

-3,000

-6,000

-594.85

Change (%)

6.4%

-10.1%

-10.0%

-41.4%

(Reference)Last year results

2,738,003

13,893

16,285

-28,155

-334.84

(Ending March. 31, 2020)

Reason for the amendment

The consolidated business forecast for the full year of FY2020 is revised to be projected at operating profit of ¥31 billion (down ¥3.5 billion yen from the previous announcement),ordinary profit of ¥27 billion (down ¥3 billion yen from the previous announcement) and profit attributable to owners of parent of ¥8.5 billion (down ¥6 billion yen from the previous announcement) .

This amendment is projected in E&P business to increase sales and profit due to the raised crude oil price. On the other hand, in petroleum business, the demand of fuels has been recovered earlier than our expectation but it is projected to increase sales and decrease profit due to the impact of inventory evaluation. Petrochemical business is expected to decrease sales and profit due to the decline of product market

This business forecast is based on the assumptions of crude oil price at US$38 /bbl and exchange rate at JPY106 /US$. (Assumptions at the previous forecast: crude oil price US$29/bbl, exchange rate JPY105/US$)

There is no change of the annual dividend forecast at JPY 80 per share from the previous announcement.

(Note) The above business forecast is based on information available as of the date published this release and actual results may materially differ from the forecast subject to variable factors that may arise in the future.

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Cosmo Energy Holdings Co. Ltd. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 07:14:01 UTC