INPEX : Invests in Carbon Dioxide Capture Technology Startup CarbonOrO Holding B.V.

Public Relations Group, Corporate Communications Unit

Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

December 23, 2022

INPEX Invests in Carbon Dioxide Capture Technology Startup

CarbonOrO Holding B.V.

Tokyo, Japan - INPEX CORPORATION(INPEX) announced it has invested in CarbonOrO Holding B.V. (CarbonOrO), a Dutch startup developing a new carbon dioxide capture technology that is expected to reduce cost by enabling the capture and desorption of carbon dioxide mainly contained in industrial exhaust gas at lower temperatures and higher pressures than conventional technologies. INPEX will support CarbonOrO's technological and business development with an eye to utilize the technology in its CCUS and methanation business.

As outlined in itsLong-termStrategy andMedium-termBusiness Plan (INPEX Vision @2022)announced in February 2022, INPEX seeks to reduce CO2 emissions from upstream operations through CCUS while promoting carbon recycling and cultivating new business opportunities, which are two of its 5 net zero businesses. The company will target an annual CO2 injection volume of

2.5 million tons or more in around 2030 and promote the adoption of methanation in society aiming to supply about 60 thousand tons of synthetic methane per year through its natural gas trunk pipeline network by 2030 while pursuing further development. INPEX will proactively engage in energy structure reforms towards the realization of a net zero carbon society by 2050 while fulfilling its responsibilities for the stable development and supply of energy.

CarbonOrO Holding B.V. Facts （As of December 2022）

Head Office	Kooltjesbuurt 1 C 10 1411 RZ Naarden-Vesting Netherlands
Leadership	Roger Meertens(CEO), Pieter Verberne(CTO), Jan Hoppenbrouwers(CSMO)
Established	2013
Shareholders	Hengstdal Beheer B.V, Meertens Holding B.V., Mapiegi B.V., Icos Capital, Putifer
	Holding B.V.
Business	R&D and sales of carbon dioxide recovery solvents and modules
URL	https://www.carbonoro.com

About INPEX

INPEX CORPORATION is Japan's largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. By thoroughly making its oil and gas business cleaner while expanding its 5 net zero business areas, INPEX aims to provide a stable supply of diverse and clean energy sources including oil, natural gas, hydrogen and renewables as a pioneer in energy transformation. For more information, visit www.inpex.co.jp/english/index.html.

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) [phone]