Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 6 Key Information 6 Company Overview 6 Inpex Corporation, Valuation and Financial Data, 2011-2015 7 Inpex Corporation, Share Price Performance, 2011-2015 7 Share Price Performance, 2011-2015 7 Key Valuation Metrics, 2011-2015 8 Inpex Corporation, Production and Reserves Trends 9 Total Oil and Gas, Reserves and Production 9 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 9 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 11 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 13 Crude Oil/Liquids Production and Reserve 14 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 14 Crude Oil Production and Reserves By Country/Region, 2011-2015 15 Crude Oil/Liquids Reserve Changes, 2011-2015 17 Natural Gas Production and Reserve 18 Natural Gas Production and Reserve Trend, 2011-2015 18 Natural Gas Production and Reserves, By Country/Region, 2011-2015 19 Natural Gas Reserve Changes, 2011-2015 21 Total Crude Oil and Natural Gas Reserves Life Index 22 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 22 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 23 Inpex Corporation, E&P Costs Trends 25 Allocation of the Upstream Capital Expenditure 25 Upstream Capital Expenditure, 2011-2015 25 Acquisition Costs By Country/Region, 2011-2015 26 Exploration and Development Costs, By Country/Region, 2011-2015 27 Oil and Gas Cost Per boe, US$/boe 29 Oil and Gas Cost Per boe, US$/boe, 2011-2015 29 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 31 Inpex Corporation, Reserve Replacement Ratio 34 Oil and Gas Production Replacement Ratio 34 Oil and Gas Production Replacement Ratio, 2011-2015 34 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 36 Inpex Corporation, Results of Oil & Gas Operations Trend 41 Oil and Gas Revenue and Expenses 41 Oil and Gas Revenue and Expenses, 2011-2015 41 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 42 Oil and Gas Revenue and Expenses, Per boe 43 Oil and Gas Revenue and Expenses, By boe, 2011-2015 43 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 44 Oil and Gas Performance Metrics 46 Recent Developments 47 Inpex Corporation - Recent Developments 47 Apr 21, 2016: Kashagan Oil Field In Kazakhstan To Resume Production In June 2017: CNPC 47 Apr 14, 2016: Keppel Singmarine To Deliver High-Specification Derrick Lay Vessel To McDermott 47 Apr 11, 2016: Government Of British Columbia: Japan Trip Strengthens B.C.’s Natural Gas Prospects 47 Apr 08, 2016: Inpex Awards Civil Works Contracts For Ichthys LNG Project In Australia 49 Apr 04, 2016: INPEX: Update Regarding Notice From Indonesian Government Authorities Concerning Revised Plan Of Development Of Abadi LNG Project, The Masela Block, Indonesia 50 Mar 28, 2016: SOCAR: Ambassador Of Japan Visits SOCAR 50 Mar 24, 2016: INPEX: Update Regarding Revised Plan Of Development Of Abadi LNG Project, The Masela Block, Indonesia 51 Mar 24, 2016: Inpex And Shell May Invest In Onshore Masela LNG Project: SKKMigas 51 Mar 24, 2016: Inpex And Shell Yet To Decide On Investment In Masela Onshore LNG Project 51 Mar 23, 2016: Indonesia Rejects Proposal For $15bn Floating LNG Project 52 Appendix 53 Methodology 53 Coverage 53 Secondary Research 53 Primary Research 53 Data Information Sources 54 Company Source 54 SEC/Other Regulatory Filings 54 Other Sources 54 Expert Panel Validation 54 Data Definition 54 Oil and Gas Reserves 54 Units of Measure 55 About GlobalData 55 Disclosure 55 Disclaimer 55

List of Tables Table 1: Inpex Corporation, Key Facts 6 Table 2: Inpex Corporation, Share Price Performance, 2011-2015 7 Table 3: Inpex Corporation, Key Valuation Metrics, 2011-2015 8 Table 4: Inpex Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Table 5: Inpex Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 12 Table 6: Inpex Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 13 Table 7: Inpex Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 14 Table 8: Inpex Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 16 Table 9: Inpex Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 17 Table 10: Inpex Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 18 Table 11: Inpex Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 20 Table 12: Inpex Corporation, Natural Gas Reserve Changes, bcf, 2011-2015 21 Table 13: Inpex Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 22 Table 14: Inpex Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 24 Table 15: Inpex Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 25 Table 16: Inpex Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 26 Table 17: Inpex Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 28 Table 18: Inpex Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 30 Table 19: Inpex Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 33 Table 20: Inpex Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 34 Table 21: Inpex Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 39 Table 22: Inpex Corporation, Revenue and Expenses, US$ mil, 2011-2015 41 Table 23: Inpex Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 42 Table 24: Inpex Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 43 Table 25: Inpex Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 45 Table 26: Inpex Corporation, Oil and Gas Performance Metrics, 2011-2015 46 List of Figures Figure 1: Inpex Corporation, Share Price Performance, JPY/Share, 2011-2015 7 Figure 2: Inpex Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 8 Figure 3: Inpex Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 9 Figure 4: Inpex Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 11 Figure 5: Inpex Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 11 Figure 6: Inpex Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 13 Figure 7: Inpex Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 14 Figure 8: Inpex Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 15 Figure 9: Inpex Corporation, Oil Production, By Country/Region, mmbbl, 2011-2015 15 Figure 10: Inpex Corporation, Crude Oil Reserve Changes, mmbbl, 2015 17 Figure 11: Inpex Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 18 Figure 12: Inpex Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 19 Figure 13: Inpex Corporation, Gas Production, By Country/Region, bcf, 2011-2015 19 Figure 14: Inpex Corporation, Natural Gas Reserve Changes, bcf, 2015 21 Figure 15: Inpex Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 22 Figure 16: Inpex Corporation, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 17: Inpex Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 18: Inpex Corporation, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 19: Inpex Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 25 Figure 20: Inpex Corporation, Development Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 21: Inpex Corporation, Exploration Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 22: Inpex Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 29 Figure 23: Inpex Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 24: Inpex Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 25: Inpex Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 32 Figure 26: Inpex Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 34 Figure 27: Inpex Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 36 Figure 28: Inpex Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 36 Figure 29: Inpex Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 37 Figure 30: Inpex Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 37 Figure 31: Inpex Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 38 Figure 32: Inpex Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 38 Figure 33: Inpex Corporation, Revenue and Expenses, US$ mil, 2011-2015 41 Figure 34: Inpex Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 42 Figure 35: Inpex Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 43 Figure 36: Inpex Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 44 Figure 37: Inpex Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 44 Figure 38: Inpex Corporation, Oil and Gas Performance Metrics, 2011-2015 46