News Release

　ENEOS Holdings, Inc. (President: Miyata Tomohide; "ENEOS Holdings") and JX Advanced Metals Corporation (President: Hayashi Yoichi; "JXAM") hereby announce that JXAM applied for listing on the Tokyo Stock Exchange today.

　As announced in "Commencement of Preparations for Listing of Shares of JX Nippon Mining & Metals Corporation on the Tokyo Stock Exchange" dated May 11, 2023, after assessing the possibility of further synergistic effects between the growth businesses listed in the Long-Term Vision and the businesses of JXAM, as well as the differences in the business characteristics of the two businesses, ENEOS Holdings concluded that the listing of shares of JXAM is the optimal way to promote the sustainable increase in corporate value of both companies while further allocating management resources of the ENEOS Group to the development of growth businesses, and to pursue the optimization of JXAM's management and further enhancement of JXAM's corporate value. Furthermore, through the listing of shares of JXAM, ENEOS Holdings will be able to make the investments required for execution of its business strategies and transformation of its business portfolio to realize the energy transition, and to implement shareholder returns quickly and reliably. ENEOS Holdings believes that its corporate value will be further increased by accelerating its efforts to transform itself into a company that realizes a carbon-neutral society through the stable supply of energy and materials via petroleum-related businesses and the supply of next-generation energy such as synthetic fuels and hydrogen.
　JXAM established, in the JX Advanced Metals Group Long-Term Vision 2040 (partially revised in May 2023), its basic policy to realize a highly profitable structure even in the face of intensifying international competition and to contribute to the realization of a sustainable society as a global leader in semiconductor and ICT materials sectors by transitioning itself from a "process industry-type firm" to a "technology-based firm". Through the listing of its shares, JXAM aims to enhance its corporate value by establishing a management structure capable of highly specialized and rapid decision-making and realizing an optimal capital structure based on business characteristics, thereby accelerating capital investments, R&D, etc. in the highly competitive fields of semiconductor materials and ICT Materials. JXAM will position these fields as the core of its growth strategy and aim to achieve profit growth that exceeds market growth through technological differentiation and market creation in the advanced materials field.
　Regarding the listing of shares of JXAM on the Tokyo Stock Exchange, it is necessary to obtain approval from Tokyo Stock Exchange after a future listing examination by the Japan Exchange Regulation. Therefore, there is no guarantee regarding the ability of JXAM to complete the listing or the timing of the listing.

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This press release has not been prepared for the purpose of soliciting investments within or outside Japan. In addition, this press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. No securities shall be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, or an applicable exemption from registration requirements. No public offering of securities referred to in this release will be made in the United States.