Inpex : Financial Result for the three months ended March 31, 2022 Support Material (PDF 1.45MB)

Support Material

Financial Results for the three months ended March 31, 2022

May 11, 2022

Cautionary Statement

This presentation includes forward-looking information that reflects the plans and expectations of the Company. Such forward-looking information is based on the current assumptions and judgments of the Company in light of the information currently available to it, and involves known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause the Company's performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, without limitation:

•  Price volatility and change in demand in crude oil and natural gas

•  Foreign exchange rate volatility

•  Change in costs and other expenses pertaining to exploration, development and production

The Company undertakes no obligation to publicly update or revise the disclosure of information in this presentation (including forward-looking information) after the date of this presentation.

66 Consolidated Subsidiaries

Major Subsidiaries	Country / Region	Ownership	Phase	Accounting Term
INPEX Sahul, Ltd.	Timor-Leste	100%	Production	December
INPEX Ichthys Pty Ltd	Australia	100%	Production	December
INPEX Oil & Gas Australia Pty Ltd	Australia	100%	Production	December
INPEX Southwest Caspian Sea, Ltd.	Azerbaijan	51%	Production	December
INPEX North Caspian Sea, Ltd.	Kazakhstan	51%	Production	December
Japan Oil Development Co., Ltd.	UAE	100%	Production	December
JODCO Onshore Limited	UAE	65.76 %	Production	December
JODCO Lower Zakum Limited	UAE	100%	Production	December
INPEX Eagle Ford, LLC	United States	100%	Production	December
INPEX Idemitsu Norge AS	Norway	50.5%	Production	December

24 Equity Method Affiliates

Major Equity Method Affiliates	Country / Region	Ownership	Phase	Accounting Term
Ichthys LNG Pty Ltd	Australia	66.245%	Production	December
MI Berau B.V.	Indonesia	44%	Production	December

Highlights of the Consolidated Financial Results for the three months ended March 31, 2022

1Q FY2021	1Q FY2022	Change	% Change
Net sales (Billions of yen)	243.6	485.3	241.6	99.2%
Crude oil sales	174.4	355.4	180.9	103.7%
Natural gas sales (including LPG)	64.6	123.9	59.2	91.6%
Others	4.5	5.9	1.4	32.4%
Operating income (Billions of yen)	106.0	228.3	122.2	115.3%
Ordinary income (Billions of yen)	106.0	277.8	171.8	162.0%
Net income attributable to owners of parent (Billions of yen)	38.1	94.0	55.9	146.4%
Net income per share (Yen)	26.15	67.86	41.71	159.5%

* Average number of INPEX shares issued and outstanding during the three months ended March 31, 2022: 1,386,518,175

Average crude oil price (Brent) ($/bbl)	61.32	97.90	36.58	59.7%
Average exchange rate (¥/$)	106.09	116.34	10.25yen depreciation	9.7% depreciation

1Q FY2021	1Q FY2022	Change	% Change
Net sales (Billions of yen)	174.4	355.4	180.9	103.7%

Sales volume (thousand bbl)	27,241	35,176	7,935	29.1%
Average unit price of overseas sales ($/bbl)	60.38	86.92	26.54	44.0%
Average unit price of domestic sales (¥/kl)	43,174	70,656	27,482	63.7%
Average exchange rate (¥/$)	106.03	116.22	10.19yen depreciation	9.6% depreciation