JX Holdings, Inc. (JXHD) and TonenGeneral Sekiyu K.K. (TonenGeneral) entered into the Business Integration Agreement and other agreements on August 31, 2016 and have proceeded with the preparation diligently for the business integration to be consummate on April 1, 2017 (Business Integration Date). The two companies have determined the appointment of the directors and corporate auditors of JXTG Holdings, Inc. as the Integrated Holding Company and JXTG Nippon Oil & Energy Corporation as the Integrated Energy Company as of the business integration date. Accordingly, JXHD determined at its board of directors meeting held November 8, 2016 to submit a proposal of appointment of additional directors and corporate auditors to its extraordinary general meeting of shareholders, and determined the appointment of the directors and corporate auditors of JX Nippon Oil & Energy Corporation. JX Holdings, Inc. announced that its corporate name will be changed to JXTG Holdings, Inc. and effective from April 1, 2017, JXTG Holdings, Inc. appoints, Jun Mutoh as representative director and executive vice president from the current position of Representative Director and President of TonenGeneral Sekiyu K.K.; Yasushi Onoda as Director and Senior Vice President from the current position of Senior Managing Director of TonenGeneral Sekiyu K.K.; Takashi Hirose as Director (Part-time) from the current position of Representative Director and Vice President of TonenGeneral Sekiyu K.K. and President of EMG Marketing Godo Kaisha; and Yoshiiku Miyata as Outside Director of JXTG Holdings, Inc. from the current position of Outside Director of TonenGeneral Sekiyu K.K. and Representative Director, Senior Managing Director and Member of the Board of Panasonic Corporation. The company announced that the as of April 1, 2017 Integrated Holding Company appoints Yasushi Kimura as Representative Director and Chairman of the Board from the current position of Representative Director and Chairman of the Board of JX Holdings, Inc.; Yukio Uchida as Representative Director and President from the current position of Representative Director and President of JX Holdings, Inc.; Jun Mutoh as Representative Director and Executive Vice President from the current position of Representative Director and President of TonenGeneral Sekiyu K.K.; Junichi Kawada as Director and Executive Vice President from the current position of Director and Executive Vice President of JX Holdings, Inc.; Yasushi Onoda as Director and Senior Vice President from the current position of Senior Managing Director of TonenGeneral Sekiyu K.K.; Hiroji Adachi as Director and Senior Vice President from the current position of Director and Senior Vice President of JX Holdings, Inc.; Kunimitsu Oba as Director and Senior Vice President from the current position of Director and Senior Vice President of JX Holdings, Inc.; Katsuyuki Ota as Director and Executive Officer from the current position of Director and Executive Officer of JX Holdings, Inc.; Tsutomu Sugimori as from the current position of Director (Part-time) Director (Part-time) of JX Holdings, Inc. and Representative Director and President of JX Nippon Oil & Energy Corporation; Takashi Hirose as Director (Part-time) from the current position of Representative Director and Vice President of TonenGeneral Sekiyu K.K. and President of EMG Marketing Godo Kaisha; Takeshi Kurosaki as Director (Part-time) from the current position of Director (Part-time) of JX Holdings, Inc. and Director and Executive Vice President of JX Nippon Oil & Energy Corporation; Shunsaku Miyake as Director (Part-time) from the current position of Director (Part-time) of JX Holdings, Inc. and Representative Director, President and CEO of JX Nippon Oil & Gas Exploration Corporation; Shigeru Oi as Director (Part-time) from the current position of Director (Part-time) of JX Holdings, Inc. and President & Representative Director, Chief Executive Officer of JX Nippon Mining & Metals Corporation; Yoshiiku Miyata as Outside Director (Independent Director) from the current position of Outside Director of TonenGeneral Sekiyu K.K.; and Hiroshi Komiyama, Hiroko Ota, Hiroko Ota, Mutsutake Otsuka and Seiichi Kondo as Outside Directors (Independent Directors) from the current position of Outside Directors of JX Holdings, Inc.