Announcement on changes of organization structure

February 14, 2019

Cosmo Oil Co., Ltd.

Cosmo Oil Co., Ltd. announces the changes of organization structure effective from April 1, 2019. The details are as follows:

1. To terminate the system of Unit segmentation
   Unit segmentation will be terminated to strengthen facilitate communication and cooperation between departments.
2. Mechanical Reliability Dept. to be newly established
   Function of management of mechanism will be shifted from Production Technology Dept. to Mechanical Reliability Dept., which would be able to strength the governance and to speed up of decision-making its operational efficiency.
3. To change the name of Safety & Environment Management Dept. to Safety, Environment & Quality Assurance Dept.
   Function of Quality Assurance will be shifted from Research & Development Dept. to Safety, Environment & Quality Assurance Dept., which would be able to strength unified governance in the fields of safety, environment, and quality.

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