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Message from CEO

Promotion of Sustainable Management

The Cosmo Energy Group Management Vision says, "In striving for harmony and symbiosis between the planet, people and society, we aim for sustainable growth towards a future of limitless possibilities." As such, we were among the first in the industry to promote environmental management, with sustainable growth (or sustainability) as a corporate pillar. However, given the recent rapid growth of society's interest in sustainability, we feel that the Group needs to evolve its sustainable management further. Therefore, we established the Sustainability Initiative Department in April 2020 to develop our governance system for sustainable management. We are now considering a number of specific measures, with the Sustainability Initiative Department as the department in charge of this. As a result, we expressed our support for the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in December 2020 and established the Sustainability Strategic Conference in April 2021 as a body that I chair. The conference considers and determines non-financial policies and indicators. In addition, we announced the Carbon Net Zero Declaration in May 2021. Another step forward that we have taken is to identify materialities (priority issues).

Going forward, we will prepare management plans in consideration of the materialities we have identified. While we currently prepare a medium-term management plan and a medium-term sustainability plan separately, we will integrate them into a single medium-term management plan from the next seventh consolidated medium-term management plan. Both the management team and employees will focus more strongly on sustainable management as a result of setting targets the Group should achieve, by combining financial and non-financial targets. The priority of management decisions will be determined by being aware of both financial and non-financial aspects, and business budgets and investment plans will also be prepared based on this priority.

We believe that promoting sustainable management will lead to branding activities. The Group's public image has included aspects such as "Friendly to people and nature" and "Environmentally friendly." This brand image is an asset of the Group, and we believe that we will be able to preserve an advantage even in increasingly diversified businesses because these assets will be strengthened if we reinforce sustainable management. In February 2006, the Group signed on to the United Nations Global Compact (UNGC). We will continue to support the UNGC Ten Principles in the four areas of human rights, labor, the environment, and anti-corruption, as we seek to contribute to the development of a sustainable society and the achievement of the SDGs through everything we do.

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