Itochu Enex Co. Ltd. resolved the following with respect to changes in Directors and Executive Officers, and reorganization, at its Board of Directors' meeting held on February 9, 2016, Hiroshi Arai retired as Representative Director and Senior Managing Officer and appointed as Corporate Adviser; Tsukasa Nakamura retired as Director and Executive Officer and appointed as Executive Officer; Koji Tsutsumi retired as Managing Officer, In charge of Nishi-Nihon area, Chairman and Director for Osaka Car Life Group Co. Ltd. and Chairman and Director for Nissan Osaka Sales Co. Ltd. and appointed as Representative Director and President for Enexauto Co. Ltd.; Koji Yamada retired as Executive Officer, In charge of Kyushu area and appointed as Vice President for Sendai Power Station Co. Ltd.; Masatsugu Takashima retired as Executive Officer, General Manager for Investigation & Public Relations Department in Corporate Planning Division and appointed as Representative Director and President for Itochu Industrial Gas Co. Ltd.; Nobusuke Ozaki retired as Executive Officer, Vice President for Sendai Power Station Co. Ltd. and appointed as Representative Director and President for Oji-Itochu Enex power retailing Co. Ltd.; Kyosuke Wakamatsu retired as Executive Officer, General Manager for Corporate Planning Department in Corporate Planning Division and appointed as Representative Director and President for Itochu Enex Home-Life Tohoku Co. Ltd.; Takeo Fukushima retired as Executive Officer, General Manager for Solution Engineering Department in Power & Utility Division and appointed as Representative Director and President for Tokyo Toshi Service Company; Shuji Katsurayama retired as Executive Officer, Representative Director and President for Itochu Enex Home-Life Kanto Co. Ltd. and appointed as Director and Senior Managing Director for Tokyo Toshi Service Company. The company promoted Masahiko Takasaka from Director and Managing Officer to Director and Senior Managing Officer. The company appointed Hiroshi Hayashida as Executive Officer. Previously he worked as Representative Director and President for Tokyo Toshi Service Company. The company appointed Masanori Mitsuhashi as Executive Officer. Previously he worked in ITOCHU Corporation. The company announced that Masaaki Itoyama changed his position from Representative Director and Senior Managing Officer, General Manager for Home-Life Division to Representative Director and Senior Managing Officer, Assistant to President and Chief Compliance Officer; Tatsunosuke Nagao changed his position from Director and Senior Managing Officer, General Manager for Energy Trade Division to Director and Senior Managing Officer, General Manager for Distribution & Energy Innovation Business Group; Masayasu Tanaka changed his position from Director and Managing Officer, General Manager for Corporate Administration Division and Chief Financial Officer to Director and Managing Officer, Chief Financial Officer and Chief Information Officer; Hiroto Jinnouchi changed his position from Director and Managing Officer, General Manager for Car-Life Division to Director and Managing Officer, General Manager for Car-Life Division, Distribution & Energy Innovation Business Group; Masanori Toyoshima changed his position from Managing Officer, Deputy General Manager for Home-Life Division to Managing Officer, Representative Director and President for Itochu Enex Home-Life Kanto Co. Ltd.; Keiichi Matsuzuka changed his position from Executive Officer, Deputy General Manager for Power & Utility Division and Representative Director and President for JEN Holdings Co. Ltd. and Representative Director and President for Oji-Itochu Enex power retailing Co. Ltd. to Executive Officer, General Manager for Power & Utility Division, Power & Gas Business Group; Naohiro Matsuzawa changed his position from Executive Officer, Deputy General Manager for Energy Trade Division, General Manager for Planning & Administration Department, and General Manager for Oil Products Trading Department to Executive Officer, General Manager for Energy Innovation Division, Distribution & Energy Innovation Business Group; Tsukasa Nakamura changed his position from Executive Officer, Deputy General Manager for Corporate Administration Division to Executive Officer, General Manager for Administration Division; Ichiro Sekiguchi changed his position from Executive Officer, Deputy General Manager for Car-Life Division and Manager for Higashi-Nihon Branch and Representative Director and President for Enex Petroleum Sales Higashi-Nihon Co. Ltd. to Executive Officer, Manager for Higashi-Nihon Branch, Car-Life Division, Distribution & Energy Innovation Business Group and Representative Director and President for Enex Petroleum Sales Higashi-Nihon Co. Ltd.; Hiroshi Hayashida changed his position from Representative Director and President for Tokyo Toshi Service Company to Executive Officer, General Manager for Home-Life Division, Power & Gas Business Group; Masanori Mitsuhashi changed from ITOCHU Corporation to Executive Officer, General Manager for Oil Products Trading Department in Energy Innovation Division, Distribution & Energy Innovation Business Group.

The company announced the four existing business divisions will be consolidated into two Business Groups based on related business sectors. The sectors under the Business Group will be renamed Divisions. Reorganization of Divisions and Groups: Power & Gas Business Group: The Power & Gas Business Group will be newly established through the merger of the Home-Life Division and the Power & Utility Division; It will manage the Home-Life Division and the Power & Utility Division; Distribution & Energy Innovation Business Group; The Distribution & Energy Innovation Business Group will be newly established through the merger of the Car-Life Division and the Energy Trade Division; It will manage the Car-Life Division and the Energy Innovation Division; Others: The Corporate Planning Division will be abolished; Reorganization of Departments and Branches [Power & Utility Division]: The Power Business Department and the Solution Engineering Department will be merged to form the Power & Heat Business Development Department; The Power Sales & Management Department will be split into the Power Supply & Management Department and the Power Sales Department; Car-Life Division: The Kansai Branch and Chugoku & Shikoku Branch will be merged to form the Nishi-Nihon Branch; Corporate Administration Division: The Corporate Administration Division will incorporate the Investigation & Public Relations Department that was under the former Corporate Planning Division; Others: The Corporate Planning Department that was under the former Corporate Planning Division will be directly managed by the President; The Home-Life Division and the Energy Innovation Division will maintain their present structures; a CIO will be newly established.