Rantau Dedap Geothermal Power Project

INPEX participates in the Rantau Dedap Geothermal Power Project in the Republic of Indonesia through its subsidiary, INPEX Geothermal, Ltd., which was established with the aim of advancing INPEX's geothermal business activities. The project is based at the geothermal block located in Rantau Dedap, South Sumatra Province, and was jointly implemented by ENGIE, a major European integrated energy company, Marubeni Corporation, Tohoku Electric Power Co., Inc., and PT Supreme Energy, a private Indonesian geothermal power developer, through their investment in the project's operating company, PT Supreme Energy Rantau Dedap. INPEX joined the project by acquiring 27.4 percent of outstanding shares from ENGIE through INPEX Geothermal. Subsequently, with the entry of EPN, the power and renewable energy subsidiary of Astra Group, the largest conglomerate in Indonesia, a portion of our shares was transferred to EPN resulting in our current investment ratio of 20.0 percent.

The Rantau Dedap Geothermal Power Plant is currently in commercial operation with a rated output of 98.4 megawatts and supplies electricity equivalent to the annual consumption of approximately 450,000 households on the island of Sumatra. Additionally, the electricity generated by this project is planned to be sold to Indonesia's state-owned electricity company, PT PLN (Persero), for a period of 30 years starting from the commencement of commercial operations in December 2021.