Signed MOU with Saudi Aramco Base Oil Company (Luberef) regarding consideration of Gr.III base oil supply

Idemitsu Kosan Co.,Ltd. (Head office: Chiyoda-ku, Tokyo; President and CEO: Shunichi Kito; hereinafter "Idemitsu Kosan") has signed a MOU with Saudi Aramco Base Oil Company -Luberef (President & CEO: Tareq Alnuaim; hereinafter "Luberef") regarding the supply of highly refined lubricant base oil "Gr.III" (hereinafter "Gr.III Base Oil").

Gr.III base oil is mainly used in fuel-efficient engine oils and environmentally friendly lubricants, and demand is likely to continue to expand in the future due to the growing momentum for environmental protection and energy conservation globally.

Idemitsu's lubricants have strengths in fuel-saving and Resources saving technologies, and the use of Gr. III base oils as a major lubricant base material is expected to continue to expand in the future. In order to realize a stable supply to customers, Idemitsu will accelerate its efforts to ensure a stable procurement of Gr. III base oils for the long term by signing an MOU with Luberef, which is building a new Gr. III production facility in Saudi Arabia.