東亜石油（5008） – [Delayed] Announcement on the Establishment of a Special Investigation Committee

Press Release Oil) May 19, 2022 Company Name: Toa Oil Co., Ltd. President and Representative Director, Kazuhisa Harada (Company Code:5008, TSE Standard Market) Contact person: Yasuyuki Shishido, Director (TEL: +81-44-280-0614) Announcement on the Establishment of a Special Investigation Committee Following the inappropriate activity relating to product testing at Keihin Refinery (3-1 Mizuecho, Kawasaki-ku, Kawasaki-shi) announced in “Announcement on Inappropriate Activity relating to Product Testing at Keihin Refinery” on May 6, 2022 (the “Incident”), Toa Oil Co., Ltd (hereinafter, “Toa Oil”) hereby announces that its board today passed a resolution to establish a special investigation committee composed of external experts and an external director of Toa Oil, as follows. We would like to express our deepest apologies to our customers and other stakeholders for undermining trust in our operations. 1. Purpose of Establishing a Special Investigation Committee (1) To investigate the facts and to identify the causes of the Incident (2) To formulate and advise on initiatives to preventing recurrence of the Incident (3) Other items that the committee determines to be necessary 2. Members of the Special Investigation Committee Chair Member Member Ryosuke Ito (Attorney-at-law, TMI Associates) Yoshiro Yanase (Chief researcher, Tokio Marine dR Co., Ltd.) Keiichi Kubo (Certified public accountant; external director of Toa 3. Future Countermeasures Toa Oil will provide full cooperation with the special investigation committee’s efforts. Results of the committee’s investigations will be disclosed in a timely manner in the future.