Progress of Action Plans for each Materiality

We established action plans for the Group’s priority issues for each materiality item. Group’s materiality is detailed in Sustainability Structure under the heading of INPEX’s Materiality and Action Plans.

Environment
Social
Governance

Environment

Achievement of Targets for Addressing Climate Change

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Achieved a CDP Climate Change score of B Achieved net carbon intensity of 27 kg-CO2e/boe in FY2025 Achieved methane emission intensity (methane emissions / natural gas production) of 0.04%	Reduce net carbon intensity (Scope 1 + Scope 2) by 35% versus FY2019 levels	Achieve net zero in absolute GHG emissions by FY2050 (Scope 1 + Scope 2) Reduce net carbon intensity (Scope 1 + Scope 2) by 60% by FY2035 Aim to contribute to reducing society's GHG emissions by about 8.2 million tons per year by FY2035 (our reduction contributions to society's GHG emissions through our products and services) Achieve zero routine flaring by FY2030 Maintain methane emission intensity (methane emissions / natural gas production) at the current low levels (about 0.1%)

Expansion of Natural Gas and LNG Business

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Confirmed that the Ichthys LNG Project in Australia has increased the capacity of the facility to produce 9.3 million tons per annum and promoted lower-carbon operations by minimizing flaring and fuel gas use during production	Maintain and enhance a safe and stable production structure of 9.3 million tons per annum of the Ichthys LNG Project in Australia through safe operations and improved facility utilization rates and continue promoting lower-carbon operations	Maintain stable operations and expand liquefaction capacity of the Ichthys LNG Project in Australia Start production of the Abadi LNG Project in Indonesia at the beginning of the 2030s Strengthen LNG trading capabilities to achieve more flexible LNG supply Focus on exploration activities in high-potential areas where early monetization is possible
	Started Front End Engineering Design (FEED) at the Abadi LNG Project in Indonesia Conducted other preparatory activities (onshore/offshore geophysical and geotechnical surveys, environment-related permits, land securing, etc.) for the project	Continue the necessary preparatory work to start production of the Abadi LNG Project in Indonesia at the beginning of the 2030s
	Used clean power for the majority of the power consumed at onshore oil fields in Abu Dhabi and worked with ADNOC to promote the use of clean power at offshore oil fields by supplying clean power from onshore	Continue reducing flaring and adopting clean power at offshore facilities in Abu Dhabi
	Conducted development studies for gas and crude oil discovery structure at the South Flåm, Cerisa, Peon and other gas and oil fields in Norway Continued providing power from the Hywind Tampen floating offshore wind farm in Norway to the Snorre oil field Discovered gas and condensate at Camilla Nord in Norway and studied the feasibility of future development	Work to further promote lower-carbon operations at existing production projects in Norway (use renewable energy for operational power, etc.) Conduct preparatory work for development and production at the South Flåm, Cerisa, Peon, and other gas and oil fields (including lower-carbon measures) Discover new gas reserves through exploration activities and acquire low-carbon assets through M&A activities in Norway

Implementation of Lower-carbon Solutions

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	CCS
	Conducted reservoir assessments, processing and analysis of newly acquired 3D seismic data, and assessments after appraisal well drilling, etc. at the GHG Assessment Block G-7-AP in Australia	Achieve FID and move to the EPC phase toward commercialization of the Bonaparte CCS Project at the GHG Assessment Block G-7-AP in Australia	Contribute to the adoption of lower-carbon energy by leveraging developed organizational capabilities and existing technologies Reduce GHG emissions by combining CCS with natural gas and LNG projects in which we participate, provide GHG emission reduction solutions, and supply blue hydrogen to third parties
	Conducted relevant studies for the Metropolitan Area CCS Project and Tohoku Region West Coast CCS Project, two projects in which we participate that were adopted under the 2024 Engineering Design Work for Advanced CCS Projects commissioned by JOGMEC Established a joint venture company, Metropolitan CCS, LTD., in February 2025 to accelerate research and planning toward commercialization of the Metropolitan Area CCS Project	Conduct pre-FEED and FEED work at Advanced CCS Projects in which we participate in Japan and continue work toward commercialization Conduct studies on the adoption of CCS for the Wisting Oil Field development concept in the Barents Sea, Norway Conduct studies toward commercialization of the Trudvang CCS Project in the North Sea, Norway
	Hydrogen/Ammonia
	Commenced commissioning work using natural gas at Kashiwazaki Hydrogen Park (integrated blue hydrogen and ammonia production and utilization demonstration test project) in Kashiwazaki City, Niigata Prefecture in June 2025 and held an opening ceremony in November 2025 Commenced commissioning in October for the methanation demonstration project in Nagaoka City, Niigata Prefecture	Commence operations within 2026 for the integrated blue hydrogen and ammonia production and utilization demonstration test project in Kashiwazaki City and the Nagaoka Methanation Demonstration Project; obtain appropriate data in accordance with the demonstration test operating policy and gain knowledge about overall operations Conduct project formation, feasibility studies, FEED, and other work related to hydrogen and ammonia projects and continue work toward commercialization	Contribute to the adoption of lower-carbon energy by leveraging developed organizational capabilities and existing technologies Reduce GHG emissions by combining CCS with natural gas and LNG projects in which we participate, provide GHG emission reduction solutions, and supply blue hydrogen to third parties

Expansion of power-related business fields

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Made a final investment decision on the expansion of the Muara Laboh Geothermal Power Project in Indonesia, in which we participate through our subsidiary INPEX GEOTHERMAL, LTD., and signed a project finance agreement Potentia Energy Group Pty Ltd, a joint venture in Australia between the INPEX Group and Enel Green Power Australia Pty Ltd, acquired a portfolio of renewable energy assets exceeding 1 GW in Australia A consortium of INPEX and 5 other companies responded to a public tender for the Yunishigawa Dam New Hydropower Plant Installation and Operation Project of the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) and was selected as a project candidate, and started discussions toward signing a basic agreement with MLIT Commenced commissioning work for Japan's first floating offshore wind farm—for which INPEX is a participant—off the coast of Goto City in Nagasaki Prefecture	Secure stable profits and increase profits at Potentia Energy Develop and expand in-house power generation capacity (expand existing projects, including the extension of the Muara Laboh Geothermal Power Project in Indonesia, and acquire new projects)	Continue to enhance profitability and expand renewable energy business, as our major initiative in the power business, by focusing on core business regions and fields where we have technical capabilities Pursue business opportunities in cleaner gas-fired power generation, integrated with fuel supply through existing gas pipeline networks, while exploring future possibilities for hydrogen co-firing and dedicated combustion as well as CCS implementation Maximize the value of the power asset portfolio by optimizing the combination of renewable energy, which needs support for fluctuations in output, and balancing power sources (battery storages and gas-fired power) Expand development, production, and supply projects for the subsurface mineral resources other than oil and natural gas needed to support the energy supply system Provide opportunities for more efficient and cleaner energy supply for power-intensive industries such as data centers
	Continued examining power solution projects in each region with partners, including batterie storages and cleaner gas-fired power generation based on CCS, to promote advanced, lower-carbon energy systems Discussed and signed a Memorandum of Understanding (MOU) on business collaboration in the electricity sector with Mitsuuroko Green Energy Co., Ltd.^1 1 Signed in January 2026	Develop and own balancing power sources (gas-fired power, battery storages, etc.) Strengthen business foundations for power solutions (aggregation, power market trading, retail, etc.) Develop scenarios for expanding power solution projects in Japan by leveraging our strengths Implement major power solution project initiatives through expansion of partnerships, including initiatives under the comprehensive collaboration agreement with the Hokuriku Electric Power Company
	Commenced a new project study regarding subsurface mineral resources (iodine, copper, etc.), for which demand is expected to increase in the future Conducted an initial study on direct lithium extraction projects	Launch new development, production, and supply projects for subsurface mineral resources Assess and consider direct lithium extraction projects Formulate a growth strategy to enhance profitability and expand project scale for Chiba Prefecture projects (gas and iodine) through integration across upstream, midstream, and downstream operations and collaboration with the Tokyo Metropolitan Area CCS Project

Biodiversity Conservation

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Conducted nature readiness self-assessments and identified issues with our nature-related initiatives Conducted assessments based on TNFD's LEAP approach and identified interfaces of our projects with nature, impacts, and dependencies, and currently organizing the results to identify our risks and opportunities Set "Achieve net zero deforestation in operational projects starting in 2025 or later" as our quantitative target for biodiversity conservation Updated the database of protected areas for our project areas	Expand the scope of nature-related disclosures in line with the TNFD framework Steadily implement biodiversity conservation initiatives in our project areas	Steadily plan and implement biodiversity conservation initiatives based on the mitigation hierarchy Promote initiatives that contribute to realizing nature positivity Promote nature-related disclosures for our projects in line with the TNFD framework Achieve net zero deforestation in operational projects

Implementation of Environmental Pollution Measures

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Implemented environmental pollution measures (air quality and wastewater) and planned and conducted environmental monitoring at each operational organization in accordance with the laws and regulations of countries in which we operate our projects, international standards, and good practices Conducted waste management at each operational organization in accordance with laws and regulations and conducted periodic inspections and audits of waste service providers Developed and maintained rules and procedures to prevent incidents at the wells, pipelines, plants, and other assets of each operational organization and contracted with Oil Spill Response Limited to establish and maintain a structure for responding to a large-scale oil spill	Continue steady implementation of the initiatives to the left and review as the situation changes	Continue steady implementation of the initiatives to the left and review as the situation changes

Social

Prevention of Major Incidents

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Recorded 2 major incidents, including 1 fatality, and no major leaks (PSE Tier 1) Conducted corporate-level incident investigations after the occurrence of major incidents and formulated Group-wide measures toward preventing recurrence Ensured Group-wide process safety management competency: Conducted a leadership campaign for the heads of operational organizations; conducted a trial implementation of the process safety competency assessment process for operational personnel; and developed education and training materials to improve competency	Achieve zero major incidents Optimize the process safety competency management framework for adoption by operational organizations Reestablish the minimum requirements for process safety management in all business fields	Maintain zero major incidents Clarify the required level of process safety competency and develop the necessary education and training materials Determine process safety management requirements in line with project purposes

Securing of Occupational Health and Safety

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Achieved an LTIR^2 of 0.33 and a TRIR^3 of 1.93, with LTIR improving from the previous fiscal year and achieving the target of 0.41, and TRIR also improving from the previous fiscal year. Conducted initiatives to prevent incidents through safety measures by conducting awareness-raising activities for the Lifesaving Rules (LSR) based on incident trend analysis and introducing an LSR HSE moment into training for newly hired employees Demonstrated HSE leadership by conducting 5 management site visits and holding special lectures Strengthened health management by conducting a Group-wide survey of best practices for preventing mental health problems on a site-by-site basis and reporting the results to the Health Management Committee	Ensure compliance with the LSR and implement safety measures based on incident trend analysis Create a framework for planning and implementation in relation to common issues across divisions globally and strengthen integrated Group-wide initiatives Comprehensively revise HSE procedures Promote HSE assurance activities through reviews and audits Promote Group-wide awareness-raising activities Enhance sharing of dedicated HSE information	Improve Group-wide safety awareness and conduct integrated safety management including incident reduction initiatives Establish the foundations for smooth development and implementation of appropriate levels of HSE management in all new projects Regularly communicate messages on HSE from senior management to operating sites and elsewhere

*2

Lost time injury rate: Rate of fatalities and injuries resulting in lost time per million hours worked
*3

Total recordable injury rate: Rate of fatalities, injuries resulting in lost time, and injuries not resulting in lost time or requiring medical treatment per million hours worked

Enhancement of Engagement and Promotion of DE&I

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Global
	Held a global HR meeting Provided opportunities for overseas subsidiary employees (next-generation leaders) to be assigned to the head office (nine employees from Australia) Held the Value Awards and a conference with past recipients of the Value Awards as part of efforts to promote INPEX Values Established the DE&I Policy	Continue providing opportunities for overseas subsidiary employees (next-generation leaders) to be assigned to the head office and provide training for overseas subsidiary employees (global leaders) at the head office Promote the assignment of the right people to the right positions on a global level Continue efforts to promote INPEX Values Implement measures making use of global engagement surveys	Aim to enhance work quality and efficiency by becoming an employer of choice and creating rewarding workplace environments Secure diverse human resources, including high-potential human resources and women in particular Cultivate a culture that supports individuals in taking on challenges and enhance the development of human resources to realize our growth strategy Develop a work environment that encourages a high level of engagement among diverse human resources
	Japan
	Established a new DE&I Unit and conducted activities to promote DE&I within INPEX (Diversity Month, various events, etc.) Conducted regular pulse surveys to visualize the status of organizations and individuals in a timely manner Improved the quality and quantity of training by assigning new administrative employees to operational sites in Japan for training and by offering assignments to young employees for practical training at more offices and operational sites in Japan and overseas	Continue promoting various key measures in the area of human resources based on the Basic Policy on INPEX Human Resources Strategy Maintain competitive wages and enhance well-being measures to secure high-potential human resources Expand training for employees to take on challenges and enhance the development of organizational leaders Further develop workplace environments that enable active participation of women and other diverse human resources	Aim to enhance work quality and efficiency by becoming an employer of choice and creating rewarding workplace environments Secure diverse human resources, including high-potential human resources and women in particular Cultivate a culture that supports individuals in taking on challenges and enhance the development of human resources to realize our growth strategy Develop a work environment that encourages a high level of engagement among diverse human resources

Respect for Human Rights

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Issued the respective FY2024 statements pursuant to the United Kingdom Modern Slavery Act 2015 and the Australian Modern Slavery Act 2018 Issued the Transparency Act Due Diligence Account in compliance with Norway's Transparency Act Conducted follow-ups on human rights due diligence Reported to the Sustainability Committee on future human rights management plans Continued conducting human rights training	Continue to issue the respective statements pursuant to the United Kingdom Modern Slavery Act 2015 and the Australian Modern Slavery Act 2018 Continue efforts to comply with Norway's Transparency Act Conduct an effectiveness evaluation of human rights due diligence and formulate action plans Improve the methods used for risk assessments of major suppliers and contractors (including with regard to human rights) Continue conducting human rights training	Ensure compliance with human rights-related laws and regulations in the areas in which we operate and with international norms Continue human rights due diligence

Coexistence with, and Development of, Local Communities (Indigenous Peoples)

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Global
	At our main sites, located in Japan, Australia, and Indonesia responded to feedback from local communities via diverse channels, including telephone, email, letter, and face-to-face dialogue with our office representatives, depending on the region and nature of our business	Maintain positive relationships with stakeholders through proactive and ongoing dialogue Continue to implement our social contribution strategy	Contribute to developing local communities and addressing social issues through our business activities, while respecting human rights and the cultures and customs of the areas in which we operate Understand and respond to needs of local communities through dialogue with stakeholders in the areas in which we operate
	Japan
	Maintained positive relationships with stakeholders through ongoing dialogue, including appropriate responses to inquiries and feedback from local communities and publication of newsletters	Maintain positive relationships with stakeholders through proactive and ongoing dialogue Continue to implement our social contribution strategy	Contribute to developing local communities and addressing social issues through our business activities, while respecting human rights and the cultures and customs of the areas in which we operate Understand and respond to needs of local communities through dialogue with stakeholders in the areas in which we operate
	Australia
	Maintained positive relationships with government agencies, industry groups, and local stakeholders through ongoing dialogue Completed implementation of the Reconciliation Action Plan (RAP) 2023-2025 and began formulating a new plan Directly employed 60 Aboriginal and/or Torres Strait Islander people and indirectly employed about 125 of them on average through contractors, as of the end of FY2025 Procured more than A$28.5 million of goods/services from 30 Aboriginal and/or Torres Strait Islander businesses over the three years from FY2023 to the end of FY2025	Maintain positive relationships with stakeholders through proactive and ongoing dialogue Continue to implement our social contribution strategy Formulate and begin implementing the RAP in Australia for FY2026 and beyond	Contribute to developing local communities and addressing social issues through our business activities, while respecting human rights and the cultures and customs of the areas in which we operate Understand and respond to needs of local communities through dialogue with stakeholders in the areas in which we operate

Supply Chain Risk Management

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Continued conducting CSR self-assessment surveys (including with regard to human rights and anti-bribery and anti-corruption (ABC) measures) for major suppliers Conducted CSR audits of suppliers Continued holding the Supplier Forum (including supplier awards)	Establish a unified process for supplier CSR management utilizing our supply chain network, including overseas sites Continue conducting CSR self-assessment surveys for major suppliers in Japan Continue conducting CSR audits of suppliers (through desktop and on-site audits) Continue holding the Supplier Forum (including supplier awards)	Establish a structure for reducing operational and reputational risks by visualizing, and implementing measures against, the CSR potential risks in our supply chain Strengthen risk assessments and compliance of supply chain

Governance

Improvement of Corporate Governance Structure

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Continued holding comprehensive discussions in Board of Directors meetings (the formulation of INPEX Vision 2035; the decision to commence front-end engineering design (FEED) for the Abadi LNG Project; the holding of Board meetings at and visits to operation sites in Japan; etc.) Held lectures and opinion exchange meetings with experts on the international energy situation and geopolitics under the Trump administration to enhance the knowledge of Board members (continued engaging experts to speak at Board meetings every year) Discussed Director candidates for the March 2025 General Meeting of Shareholders in the Nomination and Compensation Advisory Committee from the perspective of further enhancing Board diversity and selected appropriate candidates based on these discussions at Board meetings (selected a foreign national as a Director candidate for the first time at INPEX)	Enhance the corporate governance structure through appropriate operation of the Board, assess the effectiveness of the Board, and continue implementing the PDCA cycle Continue holding comprehensive discussions at Board meetings Define the roles of Directors and the Board based on the Company's characteristics, review criteria for Board agenda items, and continue considering optimal governance structures as needed	Strengthen the corporate governance structure, including enhancement of the supervisory role of the Board Deepen discussions by the Nomination and Compensation Advisory Committee about further diversity in the Board (appointing more women, foreign nationals, and people with management experience) and about the succession plan for the Representative Director, President & CEO and provide feedback on those discussions to the Board Establish and maintain a globally comparable corporate governance structure as a Japanese global company
	Continued to appoint an Outside Director as the Chair of the Nomination and Compensation Advisory Committee to strengthen the independence of the Committee Provided feedback to the Board from the Chair of the Nomination and Compensation Advisory Committee on the annual plan, the number of Committee meetings held, and the Committee's deliberations (including the succession plan for the Representative Director, President & CEO) Discussed the nomination and compensation of Directors with the appropriate involvement of the Nomination and Compensation Advisory Committee	Further enhance the governance structure for the nomination and compensation of Directors Further enhance the level of feedback to the Board concerning the status of deliberations in the Nomination and Compensation Advisory Committee (Director nominations and compensation, the succession plan for the Representative Director, President & CEO, etc.) Discuss, in the Nomination and Compensation Advisory Committee, the combination of skills the Board should have in relation to achieving the Medium‑term Business Plan, select suitable candidates, and submit recommendations to the Board
	Established a system for collecting overseas tax information to ensure tax compliance	Further enhance tax planning and tax compliance through maintenance and expansion of a dedicated tax organization

Improvement of Risk Management Structure

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Reviewed project-related and other risks Checked the risk management structure Monitored risks through internal committees Implemented the PDCA cycle for risks	Implement a risk management structure that responds to changes in the external environment, monitor each risk, and review it as needed	Optimize and improve the risk management structure Continue to monitor mitigation/management plans for material risks and issues identified by each division under INPEX Vision 2035 Strengthen IT and digital governance across the Group to reduce increasingly complex and diverse security risks
	Held 16 INPEX Value Assurance System (IVAS) Committee meetings Provided the Board of Directors with an executive summary of risk assessment results for major projects	Hold IVAS Committee meetings as needed Report progress and action plans for each of our projects at monthly Board meetings
	Held 2 Information Security Committee meetings Held 2 targeted email attack exercises Conducted 1 e-learning lesson on information security Held 1 online briefing on information security	Hold 2 Information Security Committee meetings (excluding extraordinary meetings) Hold 2 targeted email attack exercises Conduct 1 e-learning lesson on information security Develop a BCP assuming a ransomware attack and conduct drills
	Promoted the head office business continuity plan (BCP) activities for earthquake scenarios and conducted disaster preparedness drills and safety education	Continue steady implementation of the initiatives to the left

Compliance with Laws and Prevention of Bribery and Corruption

Key SDGs	FY2025 Achievements	FY2027 Targets	Medium- to Long-term Targets, Initiatives, and Directions
	Ensured awareness of compliance and enhanced education and training programs (monthly publication of compliance news; training for new graduates and mid-career employees, including contract, dispatched, and part-time employees; level-specific compliance lectures and compliance training for employees from different job levels and departments; officer and executive compliance training; legal compliance monitoring; compliance assessments; etc.) Jointly enhanced compliance across the Group (provision of training support to sites in Japan, etc.) Appropriately applied anti-bribery and anti-corruption (ABC) regulations (review of regulations and their implementation; continued training, due diligence, risk assessments of ABC practices at offices in Japan and overseas, etc.) Effectively developed and appropriately operated the whistleblowing system (review of regulations and their implementation; expansion of functions and greater awareness of the whistleblowing contact point; etc.)	Continue implementing the following compliance initiatives: Ensure awareness of compliance and enhance education and training programs Jointly enhance compliance across the Group Appropriately apply ABC regulations Effectively develop and appropriately operate the whistleblowing system	Achieve the following targets to comply with the laws and regulations of the countries and regions in which we operate: Develop a more effective and transparent compliance structure and operate it smoothly and effectively Contribute to the development of workplace environments with high productivity by raising compliance awareness among officers and employees Establish an operational structure that addresses issues properly and quickly by improving the efficiency of responses to whistle-blowing reports and other cases

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