INPEX : Joins Rantau Dedap Geothermal Power Project in Indonesia

Public Relations Group, Corporate Communications Unit

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

October 25, 2022

INPEX Joins Rantau Dedap Geothermal Power Project in Indonesia

TOKYO, JAPAN - INPEX CORPORATION(INPEX) announced today it has joined the Rantau Dedap Geothermal Power Project (the Project) through INPEX GEOTHERMAL, LTD. (INPEX GEOTHERMAL), a subsidiary established for the purpose of conducting geothermal business operations.

The Project is based in the Rantau Dedap Geothermal Block located in Indonesia's South Sumatra Province, and has been jointly implemented by major international energy company ENGIE, Marubeni Corporation, Tohoku Electric Power Co., Inc. and a private Indonesian geothermal power generation business developer PT. Supreme Energy through an investment in PT Supreme Energy Rantau Dedap, the Project's operating company. INPEX has joined the Project by acquiring 27.4 percent of the shares of PT Supreme Energy Rantau Dedap held by ENGIE. INPEX acquired the shares from ENGIE through INPEX GEOTHERMAL.

The Rantau Dedap Geothermal Power Plant is currently in commercial operation with a rated output of 98.4 megawatts and produces a volume of electricity equivalent to what is consumed annually by approximately 450,000 households in Sumatra, Indonesia. Electricity generated by the plant using geothermal resources is planned to be marketed to Indonesian national power company PT PLN (Persero) over a 30-year period from the start of commercial operations in December 2021.

INPEX seeks to enhance and emphasize renewable energy initiatives, which are one of the 5 net zero businesses outlined in the company's "INPEX Vision @2022" announced on February 9, 2022. INPEX will accelerate its initiatives aimed at its geothermal power generation business, which can utilize the technologies cultivated by the company through oil and natural gas development. INPEX will proactively engage in energy structure reforms towards the realization of a net zero carbon society while fulfilling its responsibilities for the stable development and supply of energy.

The impact on INPEX's consolidated financial results for the current fiscal year is minimal.

Public Relations Group, Corporate Communications Unit

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

About the Rantau Dedap Geothermal Power Project

Project location	South Sumatra Province, Indonesia
Power generation capacity	98.4 megawatts
Start of commercial operations	December 2021
Framework of INPEX's	Acquisition of 27.4% of shares of PT Supreme Energy
investment in the Project	Rantau Dedap, through INPEX GEOTHERMAL, LTD.
Power purchaser	PT PLN (Persero)
Power purchase agreement	30 years from the start of commercial operations in
period	December 2021

Location of Rantau Dedap Geothermal Power Project

Public Relations Group, Corporate Communications Unit

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

Rantau Dedap Geothermal Power Plant

About INPEX GEOTHERMAL, LTD

Title	INPEX GEOTHERMAL, LTD
Area(s) of business	Exploration, development, production and power
	generation activities associated with geothermal energy
	resources such as steam and hydrothermal water; supply
	and marketing of electricity and heat and operation and
	maintenance of related business infrastructure, etc.

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. Through building a cleaner upstream business and advancing hydrogen and renewables solutions, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers while pioneering energy transformation towards a net zero carbon society by 2050. For more information, visit https://www.inpex.co.jp/english/index.html.

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