#1MUFG MUFG Investors Day 2023 July 2023 Mitsubishi UFJ Financial Group, Inc.#2Table of contents Digital Service (DS) 3 Retail & Commercial Banking (R&C) 10 Japanese Corporate & Investment Banking (JCIB) 16 Global Commercial Banking (GCB) 23 Global Corporate & Investment Banking (GCIB) 31 Global Markets 37 Asset Management & Investor Services (AM/IS) 43 MUFG#3Digital Service Business Group Tadashi Yamamoto, Group Head ➤ MUFG 3#4DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 FY22 results ΥΟΥ FY23 revised target Net operating 209.7 +27.1 profits (\bn) 215 (vs original target +10) Achieve- ments Expense ratio 72% (4ppt) 71% ROE 6% +2ppt 6% Chal- lenges RWA (\tn) 9.5 (0.1) 9.8 Changes in ROE 4% 76% Net profits +¥19.7bn VS target : Expense ratio • No. of IB*2 users reached 9.3mm with the shift to on- line channel Volume of card shopping increased despite limitations due to system integration No. of new CF customers increased to pre-pandemic level Further expansion of customer base and vitalize existing customers Enhance collaboration among products and services for customer referral and monetization Promotion of data utilization and monetization as a whole DS basis FY23 outlook (key figures) Business volume is expected to increase with the economic recovery and the expansion of cashless market Maintain the level of interest margin under current interest 6% 6% VS rate trend original CF balance-ACOM target +1.5ppt (\bn) 910 870 Volume of card shopping No. of IB users-BK (\tn) -NICOS --- 5.7 5.3 (mm) 9.3 8.2 72% 71% FY21 result CF*1 Card Other Expenses Expenses Others FY22 settlement revenue (branch (deposit optimization) insurance) FY23 result revised target *1 Consumer finance *2 Mitsubishi UFJ Direct: Internet banking for individual customers 21 22 23 21 22 23 21 22 23 (FY) O MUFG 4#5DS R&C JCIB GCB GCIB Global Markets AM/IS Vision of mass-market business Business environment Diversification of Declining and aging population with low values birthrate Advancement of Direction of mass-market business • Monetizing from a mid to long term perspective (LTV*1) is an important concept for the mass-market business • Maximize revenue from two axis: LTV x customer base Image of transaction with customer Direction for maximizing revenue Deposit Credit card Housing loan Asset management Vision digitization and real Ο value Trend of customers shifting to less fee services Revenue LTV Current O Changes in perceptions of trust and confidence Strengths and challenges. BCNB Market participation by platform operators, other industries and emerging businesses Massive bank account base Various financial services Strengths Trust and confidence Challenges Strengthening data marketing Enhance cooperation among group entities *1 Life Time Value *2 Banking as a Service High-quality operation Acquisition of new accounts Competitiveness of credit cards business Teens 30s 50s 70s Customer base Key initiatives for mass-market business Become a company that customers want to connect for life by expanding customer touchpoints and deepening customer experience • Maximize "LTV x customer base" through digital data management Expansion of customer touchpoints through BaaS*2 Challenges for "To B" business Accumulated data from "To C" business (1) Maintain and expand customer touchpoints Personalized proposal Corporate infrastructure transformation (3) Enhance data marketing and "To C" business (2) Evolve customer experience and propose LTV management personalization MUFG 5#6DS R&C JCIB GCB GCIB Global Markets AM/IS • Key strategies (1) Maintain and expand customer touchpoints Overall strategy Redefine the positioning of "real", "remote" and "digital" Pursue the best mix of face-to-face and online customer services to meet the diverse needs of customer Branch Remote • • Initiatives ■Initiatives of each channel • Flexible channel expansion combined with "real", "remote", and "digital", enabled by optimization of branch network Digital TATION WORK • U · Plan to open new type of branch based on changes in foot traffic Expand online consultation. Launched trials at stations and offices*1 In addition to apps, consider new customer touchpoints in the metaverse Various initiatives of BaaS External Digital (HP, app) Function-specific • Trigger for recognizing MUFG Have customers carry out procedures on their own using tablets at branches Consistently respond from proposal to deal • Means to consult during spare time in daily life Acquire data for personalized proposals Seamless linkage with a wide range of MUFG services Expansion of new channels through BaaS General banking • Settle- . ment • Provide financial services, such as account opening Create opportunities to provide services to customers of outside companies Provide a safe and secure settlement base Use settlement-related data for marketing Provide asset management expertise Asset mgmt. • Revitalize bank account by promoting use through other companies platforms Branch Remote General Function-specific Part-timer Consumer QR settlement Asset building generation Customers operators MUFG シフトボード Account opening Asset mgt. *1 Booth provided by telecube, Inc. (left side picture) and East Japan Railway Company (right side picture) *2 Software Development Kit Concept Released in Jul 2023 Offer SDK for account opening to Recruit's app, "shift management" Promote account acquisition from young people Released in Dec 2021 QR code payment function (COIN+) incorporated into services of Recruit To be released in FY23 Embed asset management functions (Money Canvas) to external operators MUFG 6#7DS R&C JCIB GCB GCIB Global Markets AM/IS • Key strategies (2) Evolve customer experience and propose personalization Overall strategy Enhance collaboration among MUFG's wide range of products and services ■The broadest product lineup among financial institutions Initiatives Expansion of product lineup Released in Jul 2023 Online service for supporting Inheritance procedure. Aim to expand business with inheritors Consider creating new app and collaborating with other services • Provide seamless customer experience and personalized proposal au カブコム証券 Online MUFG らない MUFG Credit A member of MUFG security Security あなたの「わからない相続手続」を 三菱UFJ銀行がお手伝い 三菱UFJモルガン・スタンレー証券 三菱UFJニコス card Hassle- döcomo PRECRUIT Kanmu free BaaS deferred VANDLE CARD payment Coin+ QR code settlement Consumer アコム finance Housing loan Insurance Guide for inheritance "to-do list" based on customer's situation Searching experts such as, lawyers, tax accountants, etc. Connecting "needs", "life stages", "family members" ■Customer experience with seamless collaboration Debit card Money Canvas Asset mgt. prog///at Digital asset • ■ Current performance of each product No. of debit cards issued No. of downloads of "vandle card" Combine multiple services and offer customer experience that encourage them to carry out all transactions at MUFG Provide recommendation and information based on each customer's usage status Find a good information on the home screen Complete an application with a few clicks Personalized advice for each life event (thd) 457 FY21 587 FY22 No. of au Kabucom Securities accounts (thd) 1,400 1,540 (mm) 6.0 Sep 2022 8.0 Jun 2023 No. of Money Canvas users (mm) 0.6 2.5 € MUFG MUFJ ? ×閉じる ログアウト クレジットカード MUFG 三菱 太郎さま シルバー会 会員ランク 三菱UFJカード 1234567890 ダイレクトからカードに お申し込みなら1 銀行に 本店 普通 0123456 20:35 自動連织 MUFG UTUR 1,000,000 円 カードのお申込でMUFGカード ポイント還元率が 申込・連携 |アップします 그래UF ポイント確認・ 連携 ポイント連携 連携をご設定で 1,000ポイント 差し上げます。 お持ちの方 申込み ¥ 設定 今はしない よくある質 Money Canvas ふるさと納 サービス 振込。撤件 ベイター 名種手锁 FY21 FY22 FY21 FY22 - © MUFG MUFJR ログアウト ヘルプ MUFG 三菱 太郎さま シルバー会員 会員ランク 1234567890 本店 普通 0123456 1,000,000 円 お子さまの大学入学お めでとうございます。 将来 の積み立てをご案内い たします。 備えて安心 ウェディング積立 家族にシェア 詳細を見る MUFG 7#8DS R&C JCIB GCB GCIB Global Markets AM/IS • • Key strategies (3) Enhance data marketing and LTV management Overall strategy Expanded to group-based analysis and capture changes in transactions and customer attributes Consider new business for operators, utilizing accumulated customer base and data ■Direction of data-marketing Timely and appropriate personalized proposal with more detailed customer understanding Initiatives ■Develop a platform for personalized proposals Develop CDP*1 and improve LTV through timely and courteous communication / proposals Customer Data platform Delivery system Expanding the range of utilized data Group-based analysis Behavioral data MUFG Bank Customer attributes Behavioral data 255 CSTRIANS Ex: Heat map analysis of customer behavior on apps Life Event Data NICOS Customer Assess customers' needs by using various data same day Immediately/ Email notifications App notifications Push notifications ■Data acquisition via utilization of generative AI Accumulates information XXXXXXXXXXX XXXXXXXXXXX XXXXXXXXXX wwwwww.eme input to generative AI • Generative AI is effective in understanding • ■Business for operators using data customers' potential needs Consider using generative AI at contact point with customer Advertising business using financial data Develop advertising business through the collaboration with CyberAgent, Inc. CyberAgent. Know-how in advertising business • Advanced AI technology • MUFG Overwhelming customer base Expertise in financial data HUFG FURE A 1234567890 4 is 1234567 1,000,000 F A→ © агопаниель σ 731 Compet Advertisement Other areas under consideration Offer know-how in financial data to other operators Financial data analysis Marketing support ACOM 101 Record of History of direct deposit transaction credit-card au Kabucom Securities Account transfer payment Application of change in personal info External data Ex: Predict life events from customer attribute and transaction data Expand the use to corporate clients *1 Customer Data Platform MUFG 8#9DS R&C JCIB GCB GCIB Global Markets AM/IS Use of new technologies (AI / ChatGPT) Corporate infrastructure transformation: Use of new technologies supporting company-wide digital transformation Use of new technologies (AI / quantum computer) I • Promote effective and efficient initiatives by establishing group-wide PT • Invest in Groovenauts, make it an equity-method affiliate of BK . • Precise PoC*1 based on more than 110 use cases Aim to accelerate digital transformation and strengthen solution providing capabilities ■Results of the initial survey Procedural inquiries 60% feel the effects - Spot-on answers - Easy-to-follow explanations - Support credit application*2 44% feel the effects - Preparation for credit application - Translation of FS and other documents Summarize financial reports Reduce the amount of time by 40%*3 - Summarize and visualize various reports/ information Results of collected use cases and priority areas 30 Bank specific areas 80 Versatile areas Priority areas Internal procedures AI credit application Wealth management Groovenauts Provide "MAGELLAN BLOCKS" (cloud platform that can use quantum computer and AI) and consulting services ■Expected use cases in the financial sector Predict activity of ATM and optimize site visits Constraints ... MAGELLAN BLOCKS AI model Operating schedule Forecast deposits & withdrawals Business function Combinatorial optimization model Others Optimization of site visits Quantum computer machine (hardware) Sophisticated risk management (predictive assessment) Research Information vendor SNS Accumulation and analysis MAGELLAN BLOCKS Visualization e.g. Losses are expected to occur to "Company A" due to sudden change in the market e.g. Rumors about MUFG are spreading on social media *1 Proof of Concept *2 Review summary of credit application for non-Japanese corporates *3 For the report summary, the results of the test validation phase News sites etc. Anomaly detection, causal inference, etc. MUFG 9#10Retail & Commercial Banking Business Group Yutaka Miyashita, Group Head MUFG 10#11DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 FY22 results FY23 YOY revised target Net operating 146.8 +53.9 profits (\bn) 180 (vs original target +50*2) 97 Achieve- ments WM*1 NOP 79.0 +13.0 (vs original target +3*2) Expense ratio 76% (8ppt) 72% ROE 5.5% +1.5ppt 6.5% Chal- lenges RWA (\tn) 16.6 +0.3 16.9 Changes in ROE Net profits +\30.3bn : WM*1 profits 5.5% 6.5% VS original target +1.5ppt VS target . • • • Strengthened capabilities to offer advisory solutions through WMPF*5 Offered financial solutions capturing changes in market (increased profits from FX, derivatives, non-JPY deposits) Cost reduction through branch network optimization Expand customer base to offer unified solutions of corporates and WM Further strengthen base income through improvement of lending spread Diversify customer touchpoints and improve productivity using face-to-face and digital means FY23 key strategies Improvement in profitability 1 Unified promotion of corporates and WM 2 Enhancement of base income 3.5% FY21 result AM Cross *3 Base *4 trans- actions income Deriva- Expenses, FY22 WM tives etc. result profits etc. Base FY23 income revised etc. target Business foundation development 3 Expand and diversify customer touchpoints, enhance human capital, explore new business opportunity *1 Wealth Management *2 Calculation is modified in step with change of scope *3 WM profits from real estate, inheritance, loans and solutions, etc. *4 Income from deposits, loans (excluding cross transactions), domestic transactions and FX *5 WM digital platform: the platform which gathers clients' profiles for BK, TB and MUMSS to make total asset-based proposals (utilized Morgan Stanley's expertise) MUFG 11#12. DS R&C JCIB GCB GCIB Global Markets AM/IS Review of FY22 FY22 WM profits WM Cross transactions mainly from loans and real estate transactions and cost reduction outperformed shortfall of AM business coming from market conditions (\bn) 97 79 66 51 Base income Non-JPY deposit spread improved due to structural changes in financial environment Improvements of loan spread and acquisition of new FX customers contributed to increase base income Non-JPY deposit Base income*5 +46 +28 interest income (\bn) 278 33 VS (\bn) 254 FY20 16 FY20 FY21 NOP NOP AM Cross Base Expenses, FY22 FY23 transa- income etc. ctions NOP NOP target FY20 FY21 FY22 FY20 FY21 FY22 Use of WMPF WM Cost structure reforms WMPF deepened the collaboration among BK, TB and MUMSS • Made steady progress in cost structure reform through branch network optimization, etc. Recommendations to RMS *1 and GPS*2 provided by WMPF contributed to increase numbers of proposals These MUFG solutions contributed to double fee income*3 No. of proposals with WMPF*4 200thd proposals Results of proposals with WMPF Expense trend (\bn) 90% ratio 495 Expense Non- WMPF Approx. Doubles fee income WMPF FY22 FY22 FY22 Q1 Q2 Q3 FY22 Q4 76% 459 Base cost reduction Approx. ¥40bn FY20 System depreciation Branch network cost and Optimization, deposit insurance premium FY22 etc. *1 RM: Relationship Manager, person in charge of sales *2 System to visualize the simulation towards the goal of clients' life *3 Fee income per customer by BK (managerial basis, tallied from April to November 2022) *4 Numbers of proposal documents made by BK using Goal Planning System *5 incomes from deposits, loans, domestic transactions and FX MUFG 12#13DS R&C JCIB GCB GCIB Global Markets AM/IS • Key strategies (1) Unified promotion of corporates and WM FY23 WM profits target AM: Improve quality of proposals by strategic resource allocation and new function implementation in WMPF WM Cross transactions Business succession Deal pipelines based on business succession*1 ■FY23 key strategies (\bn) 97 +18 (vs FY22) 77.4 75.9 • Cross transactions: strengthen business succession oriented solutions, and focus on large scale real estate transactions of owners' asset management companies (\bn) 79 66 51 WM • Strengthen the coverage of clients who have clear succession plans Accelerate both retail and corporate perspective approaches by each professional team who has expertise in business and asset succession areas respectively Business succession approach framework Clients Capital Strategy FY20 FY21 FY22 AM NOP NOP NOP Cross Base Expenses, FY23 transa- income etc. NOP ctions target FY21 FY22 FY23 Promotion Office 30 officers WM Consulting Division Corp. Retail 250 officers RM Asset management WM Real estate WM profits from real estate (\bn) 18.0 13.3 9.2 ■Balance of investment FY23 key strategies assets from retail clients 1 Increase the no. of staff of Family (\tn) 26.7 26.5 25.9 FY20 FY21 FY22 FY23 Office Division in MUMSS, where large sized transactions can be expected 2- New function in WMPF- Visualize the risk of clients' financial assets iPotential risk analysis of financial assets (ii Identify risk factors and stress test under volatile market scenario "Quality improvement" of portfolio based proposal 3 Promote asset management proposals targeting funds sourced from business succession *1 Business succession oriented profits (solutions, M&A, real estate, inheritance, etc.), tallied from FY21 FY20 FY21 FY22 FY23 FY23 key strategies 1 Implementation of the system utilizing real estate registration data REAL ESTATE CHECKER 不動産チェッカーX 不動産レーダー Swift data acquisition such as certified copies and cadastral maps Database of real estate registration Discover potential WM clients 2 Accelerate asset succession proposal to clients who face inheritance utilizing real estate registration data MUFG 13#14DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (2) Enhancement of base income FY23 base income target (\bn) 278 310 +32 (vs FY22) • Loans Lending spread turned into an improving trend. Enhance pricing management as well as pile up high value-added deals for further improvement 254 (Trend of corporate lending spread) 0.77% ■Overview of lending spread improvement (Loan portfolio) . FX FY20 FY22 Deposits FX Loans for corporates, etc. FY23 In addition to deepen existing FX businesses, accelerate introduction of FX internet banking service (FXEB) to reinforce FX earning base ■FX income trend / FY23 key strategies (FX profits trend) FY20 FY21 FY22 FY23 1 Deepen existing FX businesses ①Enhance capability to provide FX solutions by collaborating with sales team through account plans ii Strengthen transaction flow monitoring by using visualization tool such as Tableau*1 2 FXEB new contracts iii Expand FXEB corporate users as a starting point to increase FX transactions (Cumulative) 10,000 1,900 companies companies FY20 FY21 FY22 FY23 Before the introduction of negative interest rates FY14 0.49% 0.53% FY20 FY22 FY23 ■FY23 key strategies 1 Pricing management enhancement ⑪Ensure competitive pricing operation ii Expand the target of deal screening to some SMEs (Overview of deal screening) Mid to Large long corporates term Short term Corporate loans Approx. \17tn Approx. 40% of corporate loans will be refinanced this year due to the maturity 2 Initiatives for high-value-added deals (iii) Strengthen fund coverage ⇒LBO loan balance increase steadily iv Aggregate knowledge of real estate and dig down deals (Loan balance of LBO deals) iii SMES (ii) Target deals Target (to be), Average deals (as is) balance Disbur- sements FY20 FY21 FY22 FY23 MUFG 14 *1 Tool provided by TABLEAU SOFTWARE, LLC, which enables to analyze and visualize data with simple operations#15DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (3) Business foundation enhancement eyeing next medium-term business plan Diversify customer touchpoint / improve productivity •Utilizing digital technology to diversify customer touchpoint and improve productivity ■Digital utilization Exploring new business opportunity • Support for growing companies (Mars Japan) Support unicorns in Japan utilizing AI Provide solutions for management issues Portal site for Corporate clients MUFG Biz Internal • • Clients Asset oriented proposal Provided by BK, TB and MUMSS WMPF Various simulation services such as asset succession WealthCanvas Corporate Retail 200thd 1.7mm Biz Person's Excellent club Portal site for employees of corporate clients Subscription-based web service for elder people Redesign sales platform to improve productivity utilizing data Research on the use of generative AI and consider using it for internal operations Human capital enhancement ■Further improvement of professionalism (No. of professionals treated*1) Around 100 75 78 64 FY20 FY21 FY22 FY23 onwards ■Diversity, Equity and Inclusion (Ratio of women in management*2) Group average 20% FY23 BK domestic branches 34% • • • MARS Japan 9-3-90-30 GROWTH CAPITAL MAPAN based financing model for growing companies (Max. ¥20bn fund will be established in FY23 (Expected)) Corporate turnaround business Newly established corporate turnaround finance team handling DIP finance etc. in April 2023. Will establish max. ¥50bn fund for corporate turnaround through an investment subsidiary next Spring Industry-academia collaboration (family business / joint research with Kobe University) Contribute to resolve social issues by supporting the sustainable development of family business utilizing academic knowledge SR / IR consulting Enhance support mainly for companies facing challenges in improving PBR Basic direction and concept for next medium- term business plan Core competence Finance service capability Digital technology *1 Employees internally certified professional and ones hired under the highly skilled employment framework *2 Ratio of woman in line manager or higher positions in the Bank, the Trust Bank, and MUMSS in Japan, as of April 2023 Radical improvement in productivity Maximize customer satisfaction (=ROE growth) MUFG 15#16Japanese Corporate & Investment Banking Business Group Seiichiro Akita, Group Head MUFG 16#17DS R&C JCIB GCB GCIB Global Markets AM/IS Introduction Support the transition of society together with our customers and lead the renewal of Japan's industry Large corporate customers are seriously pursuing measures to achieve business transformation amidst major social transformation trends led by green transformation (GX) and digital transformation (DX). MUFG's growth is linked to the growth of customers. We would like to accompany our customers as a partner in realizing change by demonstrating MUFG's potential to the maximum. We will work together with our customers and lead the renewal of Japan's industry. Fully achieve the plan for FY2023 and prepare for sustainable growth in the next MTBP In JCIB, we steadily racked up growth in every year of the current MTBP period and achieved the plan, set initially for FY2023, one year ahead of plan in FY2022. We aim for further growth in FY2023 by maintaining and expanding high quality portfolio and strengthening origination. In FY2023, we also continue with the preparations for ensuring steady growth from the first fiscal year of the next MTBP. We aim to realize sustainable growth in the next MTBP period by driving forward the existing initiatives while making adjustments reflecting the business environment. MUFG 17#18DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 FY22 results FY23 YOY Net operating 412.2 +127.5 profits (\bn) revised target 455 (vs original target +170) Achieve- ments • Expense ratio 43% (9ppt) 40% ROE 10% +4ppt 11% Chal- lenges • RWA (\tn) 33.2 +0.6 33.1 Changes in ROE Steadily racked up growth every year to achieve the level of the MTBP final year target Net profits +¥151.6bn 5% 6% 11% 10% VS ☐ original vs target target +2ppt . • Reached the initial MTBP target for FY23 one year ahead of schedule Progress of profitability improvement by company group Achievement of reduction target for equity holdings in sight Materialize investment business where we share business risk with customers Fully achieve the FY23 plan and bridge it to the next MTBP Ensure pricing control mindful of changing interest rate environment Continuously accumulate highly profitable assets • Implement new businesses that contribute to resolution of social issues FY23 key strategies Deepening of ROE management New challenges for sustainable growth Strengthen business base 1 Maintaining and expanding high quality portfolio 2 Further strengthening of origination 3 Establishment of business model to address social issue 4 Facilitate changes in customer expectation regarding the roles we should fulfill FY20 result FY21 Gross result profits Expenses Others. RWA FY22 Key FY23 result strategies revised target MUFG 18#19DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (1) Maintaining and expanding high quality portfolio Improve ROE through measures to improve profitability ■Profitability by company group I Accelerated improvement of spreads. Deposit spreads (Non-JPY) * *4*5 ■Lending spreads*4*5 Hight II Continue further profitability improvement in FY2023 I 0.75% 0.73% Non- 0.67% 1.04% JPY RORA III Made steady progress in profitability improvement, and exceeded the initial End of FY22 0.47% 0.37% 0.41% JPY 0.43% 0.44% RORA target End of FY21 NV *1 End of FY20 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Center of gravity- Reduction of equity holdings Low RWA High ■FY2022 results break down (gross profits and RWA) Gross Profits Interest income YoY ¥109.2bn + Historical performance (acquisition cost basis) * *2*6 (\tn) (¥870bn)*3 Target (¥500bn)*3 Balance (acquisition cost basis) Balance (market value) / net assets Cumulative reductions since FY21 Non-Interest income YOY¥20.1bn (¥323bn)*3 2.79 29% 25% 23% 1.86 1.69 1.55 Equity holdings YoY (¥154.0bn)*2*3 (RWA converted amount (¥670bn)) RWA End Mar 15 *1 Return On Risk-Weighted Assets *2 Sum of the Bank and the Trust Bank including R&C *3 Total amount of sale *4 Results of JCIB business group (the Bank) *5 Calculated as net interest income/ average loan balance *6 Acquisition price of domestic equity securities in the category of "available for sale securities" with market value (consolidated) End Mar 21 End Mar 22 End Mar 23 End Mar 24 MUFG 19#20DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (2) Further strengthening of origination Expanded revenue by risk-taking Accelerate cross-organizational utilization of MUFG solutions ■Capital finance*1 ■NRL*2 balance in the real estate field ■Primary Business profits (Collaboration among BK and MUMSS) Real estate business Progmat CRE*4 (FY20 result = 100) (FY20 result = 100) (FY10 result = 100) Administration Asset Consultation Manage- 203 176 Leasing Trading ment Intermediation At the time of 143 121 100 140 100 JV establishment 100 AM*5 203 Development M&A Loans Equity FY20 FY21 FY22 FY20 FY21 FY22 Solution fee (FY20 result*3 = 100) 100 98 121 FY10 -SS- FY21 FY22 FY23 BK TB SCHD LEASE Established Organization for real estate in Apr.2021 business planning and supervision Fee income from real estate brokerage (FY20 result = 100) ■Successful cases of group collaboration 138 • 134 Reduction of equity holdings through continuous dialogues on capital policy • Collaborate within the group to have continuous dialogue in response to customer requirements for restructuring shareholder composition Promote reduction of equity holdings including those held by the Bank Closed a first real estate securitization deal for company A, a major retailer 100 • With the Bank's equity support as a starting point, offer FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 • *1 Mezzanine financing involving subordinated loans, preferred stocks and other instruments *2 Non Recourse Loan *3 Adjusted for changes in operating standards in FY2021 *4 Corporate Real Estate *5 Asset Management financing by the group as a whole in response to the real estate securitization needs of customers Provide support as a financial advisor and contribute to the expansion of investor base and funding means O MUFG 20#21DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (3) Establishment of business model to address social issues Initiatives to realize carbon neutrality (CN) Show the pathway for Japan to realize CN and facilitate fund mobilization in the future MUFG Transition Whitepaper Whitepaper1.0 (Oct.2022) Sources of energy and emissions Connectivity Whitepaper2.0 (Planned in Oct.2023) Next-generation fuel*1 Renewable energy*3 Initiatives to address customer's social issue utilizing investment ■Investment balance for co-creation business (FY21 result 100) Key themes of social issue Semiconductor Carbon neutrality CCUS*2 ++ YoY 9 times 888 Space Energy security Socialpolitical issue Transmission & distribution etc.*4 Nuclear Heat pumps Communication infrastructure 100 Expand and replace as needed The starting point varies according to region Identify important technologies, etc. for achieving CN in electricity and heat Progress in decarbonization business Support for developing strategy TCFD*5 consulting service with Tokio Marine & Nichido Fire Insurance Co., Ltd Proposals 85 Corps (Incl. Signed deals: 11 Corps) Transition support through financial services Sustainable finance total (YoY) Approx. 2 times*6 - Transition bonds to Idemitsu Kosan Co., Ltd. and Mitsubishi Heavy Industries, Ltd., etc. Lead manager Perpetual subordinated hybrid loans to JERA Co., inc. Co-work for CN through investments Investment to PowerX, Inc. Lead arranger - To encourage popularization of natural energy and advancement of energy storage and transmission technologies Establishment of the largest decarbonization fund*7 in Japan with Mitsubishi Corp., etc. - Growth investment in climate tech-related start-ups FY21 FY22 Successful cases of investment for co-creation business IIII Semiconductor Investment Rapidus Corporation Partners 7 Corps from semiconductor related industry Localization of next generation semiconductor Space Investment SPACE ONE CO., LTD. Astroscale Holdings. Inc. Partners 5 Corps from trading and electronics Creating new business by utilizing outer space Communication infrastructure Investment: JTOWER Inc. Partners Communications companies Expansion of communications infrastructure sharing *1 Hydrogen, Ammonia, e-fuel, SAF etc. *2 Carbon dioxide Capture Utilization and Storage *3 Solar, offshore wind *4 Incl. storage, attraction of demand (semiconductor, data center) *5 Task Force on Climate-related Financial Disclosures *6 Preliminary estimate *7 Marunouchi Climate Tech Growth Fund L.P. OMUFG 21#22DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (4) Facilitate changes in customer expectation regarding the roles we should fulfill Help employees change their daily modes of behavior Pathway for growth in the next MTBP Our vision: Approach for the co-creation of value Further growth Fundamental corporate value Social issue oriented New business Market value Realize the genuine value of assets I Engagement for corporate value improvement Initiative for daily change Co-work with customers for greater value Our vision Support the transition of society together with our customers and lead the renewal of Japan's industry Continuous deepening of ROE management Improvement of lending and deposit spreads Reduction of equity holdings Establishment of business model to address social issues Rulemaking⚫ Policy recommendation Knowledge accumulation and network reinforcement leveraging investment CHICAGO BOOTH Chicago x MUFG Rising Talent Program Participating in a University of Chicago innovation program along with major corporate customers Participating company Approx. 40 Corps. Strengthening of origination ML Demonstration of fund intermediation function for unproven technologies CIC Tokyo*1 .. CIC Total participants of tokyo MUFG seminar Approx.1,000 Teaching expert program Absorb expertise of external human resources to promote refinement of proposals and changes in behavior Target person Approx.250 New business development and operational reform initiated by employees Employees proposing new ideas for business creation and operational reform has become the norm Total proposals Approx.200 *1 Large urban innovation center expanding to nine cities around the world Facilitate changes in customer expectation regarding the roles we should fulfill and become the customers' partner for realizing transition of society Help employees change their daily modes of behavior Establish to approach for the co-creation of value = MUFG 22#23Global Commercial Banking Business Group Yasushi Itagaki, Group Head MUFG 23#24DS R&C JCIB GCB GCIB Global Markets AM/IS 10 years since the start of investment in Asia, 5 years since the establishment of the business group - Collaboration between MUFG and PBS*1 enabled offering of comprehensive solutions, establishing a structure that covers customers across the entire commercial distribution - Investment in Grab has boosted the digital presence of MUFG and PBS 10 years since start of VietinBank investment in Asia SECURITY BANK Dec. 2012*2 Jan. 2016*2 5 years since the establishment of GCB Business Group Performance since MUFG's investment VietinBank 381 Sale of MUB completed Dec. 2022 292 100 Pandemic Year 1 Year 10 krungsri กรุงศรี s 258 100 Establishment of Global Commercial Banking (GCB) Business Group Jul. 2018 Grab Feb. 2020*3 HOME CREDIT Year 1 187 Pandemic Year 10 Nov. 2022*2 SECURITY BANK Pandemic 159 100 Akulaku Dec. 2022 Apr. 2023 Year 1 DMI FINANCE 123 Year 7 Year 10 krungsri กรุงศรี A member of MUFG a global financial group Danamon A member of MUFG, a global financial group Dec. 2013 Apr. 2019 *1 Stands for Partner Bank *2 When the investment was announced *3 MUFG's Grab business is managed by the Digital Service Business Group Digital Strategy Danamon Amember of () MUFG aglobal financial group Pandemic 100 88 81 Year 1 Year 4 Year 10 Net operating profits Net profits *In local currency; year of investment=100 O MUFG 24#25DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results*1 / FY23 revised target Review of FY22 • Progress in KS's inorganic strategy Strengthened BDI's auto business • FY22 results ΥΟΥ Net operating FY23 revised target 230 194.7 +10.0 Achieve- ments profits (\bn) (vs original target +30) Expense ratio 58% (1ppt) 57% ROE 6.5% +1ppt 7% Chal- lenges • RWA (\tn) 10.4 +0.8 10.9 Changes in ROE*2*3 • Progress in digital-related investments - Need to invest further and create synergies with investees early on Strengthen BDI's retail business Add more sustainable finance deals FY23 key strategies Before amortization After amortization KS's one-time profit 8.5% 8.5% Net profits +¥35.0bn* *4 5.5% 4% 6.5% VS target 9% 7% VS Toriginal target 1 Strengthen BDI's business platform and create new profit sources 2 Further investment in digital finance 3 Strengthen the promotion of sustainable finance FY21 result KS BDI VTB, Other FY22 KS SBC *5 result BDI VTB, Other FY23 SBC *5 revised target *1 MUAH not included; FY21 does not include KS's one-time profit *2 MUAH not included *3 Areas shaded with diagonal lines represent amortization of intangible assets, etc. *4 FY21 does not include KS's one-time profit *5 VietinBank, Security Bank MUFG 25#26DS R&C JCIB GCB GCIB Global Markets AM/IS Krungsri (Bank of Ayudhya) Financial results*1 Inorganic strategy • Strengthening its business in Thailand and surrounding countries through M&A. Focus on PMI hereafter กรุงคริ ADIRA FINANCE (\bn) (THB1=\3.8) VS FY22 YoY*2 FY23Q1 FY22Q1 Gross profits 442.3 +16.1 114.1 +6.9 MUFG krungsri Expenses 193.9 +9.7 50.6 +4.8 Aura a decis you (BDI subsidiary) NOP 248.4 +6.3 63.5 +2.1 Acquisition cost of approx. ¥87bn in 2023 • Credit costs 101.2 (18.9) 22.0 (3.8) Net profits 116.7 +19.3 32.9 +4.7 Loan end balance • 7.4 +0.2 7.4 +0.1 (\tn) Loan balance is on recovery track, with low NPL ratio Loan balance (\tn) NPL ratio KS Other bank average*3 ■KS Retail +2.6% 7.41 7.43 Philippine and Indonesian subsidiaries HOME CREDIT • No. 1 share in POS loans*4 in both countries Strengths in digital areas including apps and credit screening model Thailand 2023 Securities firm Capital Nomura Securities*5 Strength in online sales of investment trusts ★ Vietnam 2023 | Non-bank SHB Finance Company Ltd • To capitalize on Vietnam's high economic growth Strengthen digital areas and collaborate with startups Investing in and collaborating with startups through subsidiary CVC Collaboration (to improve products and business operations) Supports growth depa 7.18 +3.4% 3.51 3.53 3.44 3.2% KS Offers an incubator Startups KRUNGSRI 2.3% CVC (KFIN) program (Fintechs and FY21 FY22 FY23Q1 FY21 *1 Based on local disclosure standards in Thai GAAP FY22 FY23Q1 Investments made directly and via a fund (20 deals) *2 Sale of shares in affiliate in FY21 not included *3 Average of Bangkok Bank, Siam Commercial Bank, Krungthai Bank, and Kasikorn Bank *4 Point of sale loan is an installment loan provided at automobile and household appliance dealerships *5 Name changed to Krungsri Capital Securities after acquisition others) Thai Digital Economy Promotion Agency MOU signed with BK and KS Business Matching Event (in Bangkok, June 2023) Matching up 128 MUFG, KS & PB customers with 62 startups MUFG 26#27DS R&C JCIB GCB GCIB Global Markets AM/IS Bank Danamon Financial results*1 (\bn) VS FY22 YOY FY23Q1 (IDR1 ¥0.0085) FY22Q1 Gross profits 143.9 +0.7 37.3 +2.2 Expenses 78.3 +5.3 20.5 +1.8 NOP 65.6 (4.5) 16.8 +0.3 Strengthen retail business Investment in branches / IT / branding • Increase investment in retail banking to expand the customer base in the future Strengthen auto business • Customer referrals between BDI and Adira Acquire new profit sources through M&A • Strengthen corporate business such as trucks and heavy machinery • Raise brand recognition by sponsoring events Old interior New interior MUFG Danamon ADIRA Credit costs 28.0 (20.3) 7.5 +0.8 Net profits 28.0 +14.7 6.9 (0.3) Loan end balance ▲ Example: Branch rebranding AIIMS (Indonesia International Motor Show) 1.2 +0.1 1.2 +0.1 (\tn) ■BDI Adira Finance Loan balance continues to grow, NPL ratio on a decline Loan balance (\tn) NPL ratio BDI Mid-tier bank average*2 +17% 1.23 1.27 3.0% 1.09 2.7% 2.7% + 0.34 0.38 FY21 FY22 +19% 2.7% 2.6% 0.41 2.4% FY23Q1 FY21 FY22 FY23Q1 *1 Based on local disclosure standards in Indonesian GAAP *2 Average of BTN, CIMB Niaga, Maybank, OCBC, and BTPN Create new profit source and expand business platform Enhance collaboration with Home Credit Indonesia (HCI) Danamon A member of MUFG, a global financial group . Cross-selling of BDI / Adira products HOME CREDIT Enhanced collabo- ration M . Financing support • FINANCE Sharing digital knowledge ADIRA MANDALA FINANCE M&A strategy Acquisition of Mandala Multifinance; enhancement of auto loans in collaboration with Adira (to be completed at the beginning of 2024) S standard chartered Acquisition of Standard Chartered Bank's retail assets in Indonesia (to be completed at end-2023) MUFG 27#28DS R&C JCIB GCB GCIB Global Markets AM/IS VietinBank and Security Bank VietinBank Position in the country A listed state-run bank that ranks third in Vietnam in terms of total assets Latest financial results Posted record-high net profits in FY22 due to an increase in interest and non-interest income Expected to grow further by adding more high-margin assets such as retail assets Security Bank Position in the country • A non-conglomerate-affiliated commercial bank that ranks tenth in the Philippines in terms of total assets Latest financial results • • Posted record-high net profits in FY22 as the impact of COVID-19 subsided Expected to grow further by strengthening loans and increasing revenue (\bn) VS (\bn) VS FY22 YOY FY23Q1 FY22 YOY FY23Q1 (VND1=0.0056) FY22Q1 (PHP1=\2.4) FY22Q1 Gross profits 361.7 +64.0 95.3 +16.5 Gross profits 95.1 +6.8 23.5 +1.3 Expenses 108.1 +20.1 24.2 +2.8 Expenses 55.5 +4.4 14.7 +1.6 NOP 253.5 +65.3 71.1 +13.7 NOP 39.6 +2.3 8.8 (0.3) Credit costs 135.3 +35.1 37.7 +12.9 Credit costs 6.3 (6.4) 1.5 +1.3 Net profits 95.0 +24.4 27.1 +0.7 Net profits 25.3 +8.7 5.7 (0.9) Loan end Loan end 7.0 +0.8 7.3 +0.6 1.2 +0.1 1.2 +0.1 balance (\tn) balance (\tn) Support for growth and enhancing collaboration Support for growth Enhancing collabo- ration . • Sharing of knowledge in the digital transformation, green transformation, and risk management areas Strengthening collaboration with MUFG investees MUFG is promoting collaboration through various meetings and events Strengthening of ties at the top management level on an ongoing basis, etc. Contribution to net profits (after amortization of goodwill, etc.) Steadily growing and contributing to MUFG's profits since investment VietinBank (\bn) Security Bank (\bn) Profits from equity investees* *1 12.1 Profits from equity investees*1 4.2 2.6 0.7 FY14 FY22 FY17 FY22 *1 Our equity share of net profits minus amortization of goodwill, etc. (differs from the figures in the companies' financial reports) OMUFG 28#29DS R&C JCIB GCB GCIB Global Markets AM/IS - Investment in digital finance Capturing the growth of Asia and collaboration opportunities with PBS through investment in digital finance operators Recent investments Acquisition of Home Credit subsidiaries (Scheduled for 2023) HOME CREDIT (Indonesia subsidiary, Philippine subsidiary) • • • Approx. ¥87bn Provider of POS loans*1 and other digital lending for smartphones, electric appliances, and other purchases No. 1 share in POS loans*1 in Indonesia and the Philippines Investment in Akulaku (Dec. 2022) Akulaku • Approx. ¥26bn E-commerce and digital lending services provider (buy-now-pay-later services, unsecured loans, etc.) operating mainly in Indonesia Establishment of Garuda Fund Status of our digital coverage in Indonesia Capturing the growth of digital finance in Asia on multiple layers, while securing further PB collaboration opportunities Through digital technologies, we have expanded into and gained access to the underbanked *5 and unbanked *6 segments that have been unreachable through the traditional commercial banking model Traditional commercial banking model Online ecosystem Offline ecosystem Bank / Nonbank Rides/ Food Retail, EC Malls etc. Approx. ¥13bn*2 Upper mass (Banked*4) BDI • Investment fund established jointly by BK, MUIP*3, and BDI • The aim is to create business synergies between BDI and Indonesian startups Adira Middle mass (Auto) Akulaku Investment in DMI Finance (Incl. Under- banked*5) Grab Approx. ¥31.7bn (Apr. 2023) (Jan. 2023) MUFG MUFG Innovation Partners Danamon A member of (MUFG, a global financial group Home Credit DMI FINANCE Digital lender (POS loans*1, unsecured loans) in India providing loans through Samsung, Google, and other partners Unbanked*6 *1 Point of sale loan is an installment loan provided at automobile and household appliance dealerships *2 JPY equivalent of commitment amount of US$100mm using actual exchange rate as of end Jan 2023 *3 MUFG Innovation Partners *4 Customers whose needs for financial services are sufficiently met *5 Customers who do not have full access to financial services or whose needs are not met *6 Customers without bank accounts MUFG 29#30DS R&C JCIB GCB GCIB Global Markets AM/IS Promotion of sustainable finance and collaboration Promotion of sustainable finance (SF) • Trends in SF in PBs' countries, SF targets of KS and BDI SF execution in PBs' countries (US$ bn) There is a strong need for SF in PBs' countries MUFG is increasing support for PBS to achieve their SF balance targets SF targets of KS and BDI Result (FY22) Target • 17.5 +57% 9.7 7.6 PB 5.3 2.9 KS*1 Up to approx. ¥800bn (FY30) • SF ratio*2 of BDI 2018 2019 2020 2021 2022 21% SF ratio of 25% (FY27) (Source) Bloomberg NEF • Key SF deals at KS and BDI Approx. ¥590bn While there are certain achievements, the profitability is halfway. Accelerate promotion by strengthening collaboration with and sharing knowledge by MUFG krungsri กรุงศรี A member of HUFG, a global financial group Total issuance*3 KS Export-Import Bank of Thailand (EXIM Thailand) Approx. ¥19bn Support for EXIM Thailand's green bond issuance KS became a green structuring advisor joint underwriter by leveraging its expertise Danamon A member of MUFG, a global financial group Support in total*3 BDI Major local cement company Approx. ¥20bn Sustainability-linked loans that set CO2 reduction using alternative fuels*5 as a KPI BDI executed SF deal by MUFG collaboration • Collaborative projects with Partner Banks M&A deals originating from PBs' customer base Philippines Major Japanese power company Thailand SECURITY BANK Major Thai energy company Provided local M&A information and financial advisory services through an investment banking subsidiary Referred local stock sale opportunities to meet needs for renewable energy investment Launch of a local payment service Vietnam Major Japanese retailer a. VietinBank A wide range of products are available, including distribution of POS terminals, cash collection and delivery service, e-commerce, and QR payments Provides highly convenient services such as more efficient collection of sales proceeds *1 THB1=\3.8 *2 The ratio of SF in the loan balance *3 Total amount contributed by multiple banks *4 Supports the issuance of green bonds by providing advice on establishing frameworks and obtaining external evaluations, etc. *5 Refuse-derived fuel (RDF) is used in place of fossil fuel (coal) • . Philippines Major Philippine power company krungsri กรุงศรี A member of Mura a global financial group SECURITY BANK An investment deal was created utilizing the two PBs' customer bases KS became the sell-side financial advisor in the sale of stocks of a Vietnamese solar power project Financing without parent company guarantee • Indonesia Major Japanese real estate developer Danamon A member of MUFG, a global financial group Financing without a parent company guarantee was made possible by utilizing BDI's real estate collateral valuation capability Provided full support on loans when the company acquired a leading local shopping mall ● MUFG 30#31Global Corporate & Investment Banking Business Group Fumitaka Nakahama, Group Head MUFG 31#32DS R&C JCIB GCB GCIB Global Markets AM/IS FY22 results YOY FY22 FY23 results*1 revised (adjusted) target Net operating profits (\bn) 269.4 +77.6 250 237.4 (vs original target +70) Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 • . Improved B/S related income Expansion of Institutional Investors portfolio Uplift in loan fees in U.S. project finance through Origination & Distribution Captured demands of deposits, FX and derivatives Achieve- ments Expense ratio 51% (7ppt) 52% 51% • ROE 8.5% +1.5ppt 7.5% 8% Chal- lenges • Further strengthen non-interest fee business Shift towards a portfolio with higher profitability RWA (\tn) 22.8 (0.0) 23.0 25.0 Changes in ROE FY23 key strategies Net profits +¥16.2bn Manage- ment Policy Simplicity Empowerment 8.5% 8% 7.5% VS 7% VS target original target +1ppt Client Delivery 1 Profitability improvement of business portfolio Exploi- tation 2 GCIB & Global Markets 3 Strategy of the Americas - deep dive into the middle market segment income FY21 Interest Non- Expenses Credit result income interest costs /others FY22 Impact of FY22 result the sale result of MUB (adjusted) FY23 revised target Explo- ration 4 Investment in new growth business *1 Exclude impact of the sale of MUB (MUFG Union Bank) MUFG 32#33• • DS R&C Key strategies (1) JCIB GCB GCIB Global Markets AM/IS Profitability improvement of business portfolio Balance Sheet Optimization (BSO) As a result of BSO activity, portfolio profitability has been steadily improving Continuously raise the profitability target of deal screening and conduct thorough monitoring to improve profitability Portfolio management based on quad analysis*1 (YoY) High Average ROE : FY21 FY22 Improvement in portfolio profitability Lending spread has been steadily improving as a result of reducing low profitability assets Trend of RWA below GCIB ROE target*2 (US$bn/% is the ratio of total RWA) 67 36% 63 Reduced US$16bn 51 32% Profitability Low B Median at end Mar 22 A 28% End Mar 21 End Mar 22 End Mar 23 13.7% (+2.3ppt) 2.7% (+0.1ppt) Median at 12.3% (+1.7ppt) 4.2% (+0.1ppt) Lending spread*3 end Mar 21 Improved by 21bps D C 1.36% 1.21% RWA below GCIB ROE target 1.15% Reduce/Improve Profit amount High FY20 FY21 FY22 Lending spread and portfolio profitability have been steadily improving through quad based port. management "Play Where You Can Win" - Allocate resources to strengthen sectors and products where we have advantage *1 Quad analysis divided by portfolio median of the profitability and profit amount. Average ROE is based on managerial basis. *2 Total RWA of loan assets below GCIB ROE target *3 Excluding non-JPY mid-to long-term funding costs MUFG 33#34DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (2) GCIB & Global Markets Business overview and focus areas 2 Secondary trading Invest IG*2 Corp. Non-IG Corp. 1 5 Direct lending Loans/Bonds underwriting Institutional Investors (AM*1. Sponsor) Investment Management Finance for Institutional Investors 1 3 5 • • Continuously focus on profitable institutional investors business Strategically allocate resources and provide our services adopting to investors' demands Institutional Investor portfolio ratio* *3 20.0% 18.8% Funds 16.6% Equity/Notes/Loans 11.8% • Infrastructure, renewable energy, etc. Expand RWA resource allocation 3 FY20 FY21 FY22 FY23 target Secured Finance. and Securitization 4 • FX/Flow product cross-sell Institutional Investors 1 Enhance Institutional Investors-led Non-IG business (O&D) 2 Strengthen secondary sales & trading functions to accelerate primary underwriting 3 Expand product lineup and asset classes • Loans/Bonds underwriting and secondary trading 24 Accelerate Non-IG business while upgrading risk management Aim to expand market share through MS*4 collaboration, and more effective alignment between primary underwriting and secondary sales & trading Syndication / DCM Wallet (US$bn) * *5 Global.IG U.S. Non-IG 18.3 11th 10th 19th 12th 2.7% 2.8% YTD*6 10th 2.7% 10.8 1.4% YTD*6 13th 1.5% 7.5 1.4% 4 Strengthen sales functions to capture flow product business 9.8 8.0 6.1 2020 2021 2022 2023 5 Capture cross-sells associated with direct lending P.35 target Market wallet *1 Asset management company *2 Investment Grade *3 Loan balance in managerial basis. *4 Morgan Stanley *5 Dealogic (Calendar year basis) *6 January to May 2023 2020 2021 2022 2023 target Share MUFG 34#35DS R&C JCIB GCB GCIB Global Markets AM/IS . Key strategies (3) Strategy of the Americas / Middle market strategy Americas business after the sale of MUB After the sale of MUB, we focus on wholesale business in the Americas • • The Americas has large wallet share and remains a strategic region for GCIB Syndication and DCM wallet size by region*1 Overview of middle market strategy Accelerating middle market coverage, enabling to provide services according to clients' growth stage Growth stage IG 64% Non-IG Startups Technology Customer segments Middle Sponsor Large Americas corporates led corporates 2 1 I EMEA 77% APAC Banking Service Emerging Tech Enhanced in 2023 Direct Lending Established in 2022 3 I Collaboration Wholesale Banking Deepen Collaboration • Overview of the strategy in the Americas Accelerate BSO activity and collaboration with MS, and strengthen non-interest fee business Promote profitable institutional investors business, while diversify assets and sophisticate risk appetite by adopting to trends of client demands/market environment Transition image of GCIB Americas business portfolio Corporates • Accelerate BSO activity • Promote Non-interest fee business • Strengthen MS collaboration Portfolio rebalance - Non-IG M&A Advisory Service IPO Reallocate assets through BSO 2 • . - Middle market| Secured Finance Institutional Investors Current MTBP Intrepid*2 IPO Morgan Stanley 2 Middle Market Large Cap 1 Strengthen business relationship with institutional investors-led middle market clients . Expand TMT*3 team for middle market clients Utilize AI based credit model of Mars Collaborate with MS to serve later stage clients (ECM/IPO) 3 Strengthen M&A advisory business through Intrepid, an M&A boutique for SMEs *1 Dealogic (2022, calendar year basis) *2 A subsidiary of MUFG, M&A advisory firm in the U.S. for SMEs *3 Telecom Media Technology MUFG 35#36DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (4) Investment in new growth business Mars Growth Capital Approx.¥133bn*2 Investment into digital startups in Asia 1 Achievements Net cash investment (US$ mm)*1 Total fund size US$750mm 420 335 IRR (FY22) 12.7% 253 237 138 0 13 42 50 69 End End End End End End End End Considering to increase fund size within FY23 End End Dec 20 Mar 21 Jun 21 Sep 21 Dec 21 Mar 22 Jun 22 Sep 22 Dec 22 Mar 23 Expand to new areas 2 Further expansion of funds business Nurture Japanese unicorn companies to accelerate growth Mars Europe Up to US$250mm Deeper dive into European startup market Mars NEXI Up to US$100mm Invite Japanese investors through NEXI*3 insurance 3 Capture IPO deals through alliance with MS Mars Japan Up to ¥20bn • Link Mars' customers with MS 4 • AI based financing model for new business and efficiency E • Capture the growth in Asia and prospect banking business with these companies MUFG Ganesha Fund Approx.¥37bn*4 Investment framework for startups in India made three investments so far DMI Finance Approx.¥31.7bn Digital lender in India - co-manage with DS/GCB Transition support / business addressing social issues (ESG) • S ES • • Best Sustainable Finance Adviser Asia Pacific Award*5 Global Bank of the Year Award*6 • Project finance for underground and subsea transmission line projects, supporting renewable power transmission capability in New York metropolitan area • The world's largest syndicate social loan for affordable housing in India • Assist the provision of medical products for low- and middle-income countries and emission reduction targets through supporting the issuance of SLB*7 for Israeli pharmaceutical company E *8 Deepen relations with Liquidity Capital through investment Consider development of new AI based financing model and improvement of operation efficiency Blended Finance • Singed MoU with NEXI to accelerate decarbonization in Asia (June 2023) Consider collaboration framework between the public and private sectors *1 Aggregate net commitment amount of the transactions considering amortizations during investment period *2 JPY equivalent of MUFG's LP commitment (including planned amount) using actual exchange rates as of end Mar 2023 *3 Nippon Export and Investment Insurance *4 JPY equivalent of planned investment amounting of US$300mm using actual exchange rates as of end Mar 2022 *5 Asset Publishing and Research Ltd. *6 Project Finance International *7 Sustainability Link Bond *8 An indirect financing method that mixes public and private funds MUFG 36#37Global Markets Business Group Hiroyuki Seki, Group Head. MUFG 37#38DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 Achieve- • • Sales & trading Succeeded in flexible position management while further increasing the amount of activities Progress in "GCIB & Global Markets" FY22 results FY23 YOY revised target Net operating 143.4 profits (\bn) (61.9) 125 (vs original target (245)) ments Expense ratio 63% +10ppt 67% ROE 3% (1.5ppt) 2% Chal- lenges • Strengthen our capability Economic 4.1 +0.0 to respond to the 4.3 capital (\tn) • Enhance client service and efficiency by using advanced global FX business platform • Treasury, etc. Controlled the deterioration in unrealized P/L and gained financial income by utilizing hedging tools and replacing with HTM*1 JPY and non-JPY portfolio soundness Strengthen non-JPY liquidity management Changes in ROE 4% VS Net profits (¥44.0 bn) target S&T Maintaining ROE plan at a high level of 11.2%, although it is expected to decline year on year 3% FY21 result Treasury Sales & Expense trading FY22 result *1 Held-to-maturity securities VS original target 2% Treasury Sales & Expense, FY23 trading economic revised capital target increase in volatility in yen interest rates FY23 key strategies • Long-term, diversified portfolio expansion 1 Further strengthening sales & trading business A Further strengthen for FX business · An enhanced MUFG/MS Alliance, etc. B Enhance "GCIB & Global Markets" Top derivatives market share in Japan 2 Treasury business in response to changes in the business environment D Strengthen market risk management E Strengthen non-JPY liquidity management 3 Challenges for new business areas F Long-term, diversified portfolio expansion G Initiatives for Carbon Credit MUFG 38#39DS R&C JCIB GCB GCIB Global Markets AM/IS • • Alliance 2.0-Enhancement of Strategic Alliance with Morgan Stanley MUFG/MS Alliance have expanded from Investment Banking business to WM, AM/IS businesses New collaboration initiatives (FX Trading / Japanese Research and Equity businesses for Institutional Clients) History of MUFG/MS Alliance (from 2008) Invested US$9bn in preferred stock in MS to strengthen global operations MS appointed a second MUFG representative to the MS Board of Directors and the preferred stock owned by MUFG were converted into common stock Collaborations in new business areas 1 Collaboration in Foreign Exchange Trading Established MUMSS and MSMS in Japan MUBK MS Clients Clients Enhance Pricing Capability Sales 2008 2009 2010 2011 At present Trading Collaboration in FX trading area via MSMS Morgan Stanley MUFG Trading Sales Trading Established LMJV*1 to provide corporate financing services in the Americas Existing collaborations Alliance 2.0 Investment Banking Business GCIB • Integration of M&A advisory business in Japan • JCIB Collaboration in M&A and Capital Markets across different regions WM WM. AM/IS AM/IS Leveraged MS' know-how for developing WMPF*2, House view*3, branding etc. Collaboration for MS' product distribution, fund administration etc. Enhancement of Global Strategic New Alliance Foreign Exchange Trading Japanese Research & Equity 1 2 2 Collaboration in Japanese Research and Equity Businesses for Institutional Clients MUMSS Investors Retail Corporate Financial Services Clients*4 Sales Corporate Access. Execution Service Retail, corporate, Financial Services Clients MSMS Investors Domestic and International Institutional Investors Domestic 5 and overseas inst. investors Research Inte- gration Retail, corporate, Financial Services Clients Domestic 5 and overseas inst. investors Underwriting Joint Underwriting* Mainly focus on retail, corporate and Financial Services Clients Sales Corporate Access. Execution Service New Sales, Execution Service Research New research Provide Services*6 →Underwriting Mainly focus on domestic*5 and overseas inst. investors Issuers *1 Loan Marketing Joint Venture *2 WM digital platform *3 Official market forecast and investment view as MUFG WM *4. "Financial Services Clients" includes, among others, proprietary funds for domestic banks and insurance companies, and certain regional financial institutions *5. Other than "Financial Services Clients" *4. *6 New Research provides services to MUMSS's retail, corporate, and financial institution clients through MUMSS. MSMS continues its services for MSMS's financial institutions clients *7. For certain domestic deals, MSMS may act as selling agent while MUMSS acts as underwriter MUFG 39#40DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (1) Further strengthening sales & trading business Business environment and Key initiative ¥472.2bn*1 | B GCIB & Global Markets ¥120.Obn*1 Continued Inflation Business environment DX and ESG Interest Rates Foreign CCY Rates Restrictions on non-JPY Liquidity and Capital Geopolitical Risks Commodity Prices Allocate resources and strengthen functions based on needs from corporate customers and institutional investors Customer Needs Customer Needs Key initiatives A Further strengthening of FX business C Top derivatives B "GCIB & Global Markets" market share in Japan Review of investment strategy Diversification of funding methods Secured Finance*4, Sales of loans and underwriting bonds Ancillary transactions (derivatives, forex) GCIB-Global Markets combined ROE (%) 8.4 8.0~ Activity volume ΚΡΙ Appropriate Risk Appetite Strengthen Trading function Organize incentive framework such as promotion of cross-selling FY22 result FY23 target A Further strengthen FX business (An enhanced MUFG/MS Alliance, etc.) ¥203.5bn*1*2 Customer Needs C Enhance pricing capability Expand product/service lineup • Improve client service Price quote speed: roughly x2 No. of Receipt: more than x20 Algorithm trade function Currency pair coverage: more than x3 Market analysis NDF*3.Options function Collaboration in FX Trading Area through MSMS leverage each of both parties' unique and complementary strengths Strengths MUBK • Corporate customers etc. • JPY and Asian CCY MSMS Benefit from the enhanced scale of the collaboration Top domestic market share in derivatives ¥86.0bn*1 (Strengthen our capability to respond to JPY interest rates) Strengthen our capabilities to develop and deliver new solutions to capture the increase in volatility in JPY interest rates Customer Needs Prepare for inflation, resource constraints and the risk of rising interest rates (including optimizing global network) Review of financial strategies Response to Green / Digital Provide hedging tools. Support investment of surplus funds Strengths MS International Institutional investors etc. Global FX business platform Develop new products Carbon credit, DCH*5 Rebuild JPY interest rate derivative business Organize incentive framework, such as acquisition of new customers *1 FY23 revenue plan (before profit sharing between business group, managerial accounting basis) *2 No "Alliance 2.0" impact in FY23 revenue plan *3 Non-Deliverable-Forward *4 Loans collateralized by investment assets of funds *5 Deal Contingent Hedge (hedging transactions to be effective or ineffective depending on success or failure in project financing) Profits from interest rates related business (Japan, \bn) 86.3 Activity volume ΚΡΙ 86.0~ FY22 result FY23 target O MUFG 40#41DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (2) Treasury operation in response to changes in business environment Business environment and Key initiatives Business environment D-2 High inflation High interest rate Low liquidity Restrictions on non-JPY Liquidity and Capital Enhance market risk management 2 Controlled the deterioration in unrealized P/L - Current unrealized P/L • ~ Unrealized losses of foreign bonds were expanding due to further interest rate rise Maintain unrealized "gain" on a total AFS*1 securities basis Control method • D-1 Key initiatives E Strengthen non-JPY liquidity management Enhance market risk management ~ Secure financial income D Enhance market risk management Active use of hedge tools (bear fund etc..) Utilization HTM*2 account Unrealized P/L on AFS securities (\tn) 5.0 4.0 Domestic equity Domestic bonds 3.0 Foreign bonds Others 2.0 ~ 1.0 Proactive risk-taking Non-consolidated (\bn / BPV) • Flexible approach to operate our position (risk volume) Dynamic portfolio allocation 0.0 (1.0) (10) Long (5) 10 Risk volume (interest rate risk) UST 10Y yield (2.0) E Strengthen non-JPY liquidity management (focusing on soundness) (US$bn) As of end Mar 23*3 Short FY18 FY19 FY20 FY21 FY22 FY23 (forecast) I (I) < (II) + (I) Secure financial income The income gain will deteriorate significantly due to the inverse USD yield curve will remain high Accumulate capital gain Treasury revenue (\bn) 200 100 0 (100) Total FY18 Capital gain FY19 Income gain FY20 FY21 FY22 FY23 (plan) 06/03 07/03 08/03 09/03 10/03 11/03 12/03 13/03 14/03 15/03 16/03 17/03 18/03 I Deposits 262 (YOY+14) 19/03 20/03 21/03 22/03 23/03 +1.4 Set upper limit, strengthen control Highly liquid assets (JGB, US Treasury, etc.) Loans 318 (YoY+16) Loan-to-deposit gap 56 Investment securities 134 Interbank mkt operations, etc. 124 Others (Ⅲ) Mid-to long-term market funding 127 Other market funding, etc. 204 Others Securing stickiness with regional and industry diversification Emphasizing diversification of method and term Corp bonds/I/C borrowings: 74 Collateralized funding, etc.: 15 -Mid-long term currency swap: 38 MUFG 41 *1 Available-for-sale *2 Held-To-Maturity *3 The Bank consolidated excl. MUAH, KS and BDI#42DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (3) Challenges for new business areas F Long-term, diversified portfolio expansion (New investment business) Diversification (asset types, duration, Place emphasis on ROE price ranges) Basic policy Operating policy • Contribute to produce sustainable and stable profits and achieving ROE 8% over the long-term Accumulated mainly in floating rate and highly rated products • Continue to expand credit/alternative assets with floating rates Credits and alternatives Traditional assets Floating-rate instruments G Initiatives for Carbon Credit (CC) Supporting forestry business Activating CC market • • Signed an investment agreement with Imprint Nature-Based Opportunities and Manulife Forest Climate Fund, two global forest investment funds Contribute to the creation and development of the CC market in Japan and the invigoration of the global CC market through the trading of CC received from above-mentioned funds Supporting forestry business Forest funds Investment Activating CC market ¥0.3tn Gross profits ¥1.5bn ¥1.9tn Gross profits ¥7.0bn ¥3tn Gross profits ¥30~50bn ROE 8% Customers Receiving CC investment return MUFG CC inventory CC trading Exchange Challenges in other new areas GX Economy Transition Bonds Web3.0 (NFT*1: wallet service supply, contribution to token business, etc.) Women empowerment, transfer of Non-Japanese staffs to the Head office in Japan, etc. FY21 (initial year) Further collaboration between BK and TB FY23 (plan) Long-term image Enhance collaboration framework between BK and TB Develop MUFG's investment strategy (Development of "MUFG Credit/Alternative Investment Strategy") New business MUFG/BK Providing know-how, expanding knowledge TB I&D*2 Portfolio investment office Further personnel exchanges Credit investment division Development of MUFG Credit/Alternative Investment Strategy Building MUFG credit / alternative × resources/Accumulation portfolio Development of human of knowledge *1 Non-Fungible Token *2 Inclusion & Diversity To be a revenue pillar of Global Markets (MUFG integrated) Recruit . Enhance recruitment (joint recruitment of BK and MUMSS, etc.) HR . Human skill (mentoring, coaching, etc.) Training . Digital skill (Nurture DX promoting employees, Enhance DX literacy) MUFG 42#43Asset Management & Investor Services Business Group Takayuki Yasuda, Group Head MUFG 43#44DS R&C JCIB GCB GCIB Global Markets AM/IS Progress of the medium-term business plan FY22 results / FY23 revised target Review of FY22 FY22 results YOY FY23 revised target Net operating 105 Achieve- 97.2 profits (\bn) (6.0) (vs original ments target +5) Expense ratio 70% +1ppt 70% ROE 28% (3ppt) 29% Economic 0.3 +0.0 0.3 capital (\tn) Changes in ROE 31% Net profits (¥4.6bn) Chal- lenges Domestic Global Leapt to the No. 1 position in Japan in publicly offered equity investment trust balance with products capturing active recurring investment needs and environmental changes Became No.1 in Japan in AuA by differentiating from competitors AM: Maintained high performance even in the volatile market IS: Increased sales and profits due to expansion of high-value- added-services Business volume of AM has steadily expanded but profits fell due to weak market condition ⚫ Further strengthen capabilities for alternative investment and flexible product offering • Expand one-stop services in IS business FY23 key strategies AM Global: Strengthen capabilities for alternative investment including inorganic means ➤ Domestic: Strengthen capabilities to offer products for institutional investors ➤ Global: Expand products offered in one-stop service and areas offering the service including inorganic means Domestic: Accelerate differentiation with single party NAV calculation service, etc. Accelerate initiatives for responsible investments 29% 28% VS VS target original target IS ESG FY21 result AM IS Pension Economic FY22 AM capital result IS Pension Economic FY23 capital revised target Digital Expand the scope of asset formation and improve human capital *1 Excluding ETF MUFG 44#45DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (1) AM Our vision and business environment Our vision Alternative accounts for majority AM leads the industry in responsible investment and generates sustainable profits for stakeholders Investment capability is the key for active funds Percentage of capital inflows*2 Top10 Percentage of AM fee pool*1 Below top10 Global (AlbaCore strategic partnership*4) Expect to acquire high-growth, complementary capability through the partnership AuM of alternative credit management funds AlbaCore (US$bn) Industry*3 (US$bn) O CAGR +57% Alternative Active Passive Business 6% 7% environ- ment 42% 50% 27% 70% 73% 51% 43% 30% 568 0.6 2020 2026e Passive Active -16% 9.1 2016 2017 2018 2019 2020 2021 2022 1,365 Global (Unlisted infrastructure) AuM growth rate of FSI unlisted infrastructure funds has been outperforming the industry-wide AuM growth rate AuM of unlisted infrastructure funds FSI (AUS$bn) Industry*3 (US$bn) O CAGR Domestic (strengthen capabilities for product offering ) No.1 in AM for individual investors in Japan by capturing customer needs. Strengthen the capabilities for institutional investors Publicly offered equity investment trust balance*5 Reorganization scheduled in Oct 2023 MU investments Investment Trust 12 2019 +26% 24 Develop new products by using balance sheet 1,092 Further expansion of product areas +24% 596 2020 2021 2022 2026e (\tn) MUKAM*6 A B - C (): CAGR on balance basis No.1 11.3 (13%) MUKAM Investment Trust Management 10.8 (2%) 8.8 (6%) 8.0 (1%) Mar 18 Mar 19 Mar 20 Mar 21 Mar 22 Mar 23 Discretionary investment Specializing in traditional AM AM company with strong presence in terms of quality and volume Aggre- gation Transfer *1 Source: MUFG arranged the data made by Boston Consulting Group *2 Cash inflow between 2018 and 2021. Source: Boston Consulting Group *3 Source: Preqin *4 AlbaCore Capital Group (subject to the approval from relevant regulators) *5 Excluding ETF *6 Mitsubishi UFJ Kokusai Asset Management Management Discretionary investment Real estate management Specializing in real estate management Industry-leading dedicated real estate management company MUFG 45#46DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (2) IS Our vision and business environment Global comprehensive service provider Remarkable growth in publicly offered equity investment trust Investment trusts under administration trends (domestic) *2 Private ○ CAGR Our vision Alternative Drives Industry AuA trend (global)*1 Alternative Other assets Public Business (US$tn) (\tn) +6% 121 +4% 109 88 +9% 166 109 Domestic (Industry-leading AuA and differentiated services) Became No. 1 in AuA by differentiating from competitors Trends in AuA No.1 in Japan environ- ment 84 10% 28 16 2020 2026e Mar 18 Mar 23 Mar 18 Mar 19 Mar 20 Mar 21 Mar 22 Mar 23 615xtn MUFG*3 Competitor A Global (Enhancing one-stop services) Expand products offered in one-stop service and areas offering the service to build a resilient earnings base Product lineup Fund admin. Fund finance One-stop services X Security lending, etc. Inorganic Contribute to development and expansion of AM industry overall by popularizing single party NAV calculation MUFG (Trustee) AM firms (consignors) Single party NAV calculation AM firms no longer need the system and personnel for NAV calculation, which results in new resource generation NAV calculation Document preparation collation Investment instructions NAV calculation Validation Dissemination of single party NAV calculation New AM firms, Invest resources for Investment Capabilities AM industry Lower entry barriers Area Front office Fund FX Establish a new base Custody Middle office X Improve efficiency through reorganization New resources Back office 80% Build a resilient earnings base Global IS expense ratio trend 69% 2017 2018 2019 2020 2021 2022 2023 2026e Existing AM firms Intensification of competition AuM Improve investment capabilities Lower costs New AM firms AuM Revitaliza- tion of IS industry *1: MUFG arranged the data made by Boston Consulting Group *2 Source: The investment trusts association *3 AuA in The Master Trust Bank of Japan ● MUFG 46#47DS R&C JCIB GCB GCIB Global Markets AM/IS Key strategies (3) ESG/(4) Digital strategy Responsible investment (set NZAM interim target) Promoting various initiatives toward achievement of the interim target set in October 2022 Engagement ✓ Encourage at high GHG- emitting Development of products that contribute to net zero ✓ Develop iSTOXX MUTB Climate change index*2 | Digital (D-Canvas) In addition to expansion of the scope of asset formation, considering its utilization to improve human capital 2021 Jun 2022 Oct Collaboration with Asset Owners transition strategy Promotion of public engagement ✓ Strengthen × relations by holding seminars, etc. ✓ Active investment strategy development, etc. D-Canvas release GOOD DESIGN AWARD 2022 Changes in companies*1 ✓ Exercise voting rights, etc. 2023 Jun Number of downloads Approx.390thd App downloads Interim target by 2030 For 55% of AuM, reduce 50% GHG emissions vs 2019 Responsible investment (strengthen promotion structure) Consolidate the global standard expertise in sustainable investment and speed up its promotion Jun 2021 MUTB MUKAM MU investment Gathering MUFG AM specialists /knowledge Mitsubishi UFJ Asset Management(UK) Mitsubishi UFJ Alternative Investments MUFG AM Sustainable Investment External human resources -Appointment No investment experience*3 behavior by D-Canvas 現状を知る Investment experience 100% 65% 行動を起こす気づきを得る 35% Jun 2023 Changes in behavior by D-Canvas R Services for Corporate HR*4 Human capital ☑ improvement Recognize current situation Utilizat- ion rate Career plan Target clarification measures Data Ana- lysis Page views Take action Get noticed Improve employees' human capital Services for employees Financial assets Bulk Administ- ration Behavior change cycle Expanding the cycle beyond financial D-Canvas assets New Health New Career Improve own human capital *1 Select top 1,000 GHG-emitting companies (representing at least 90% of the portfolio) and prioritize them for engagement *2 An index composed of the issues expected to have high returns among the companies having goals consistent with the Paris Agreement *3 Users who own capital protected products alone in corporate-type defined contribution pension plan as of May 2021 *4 Human Resources MUFG 47#48Disclaimer This document contains forward-looking statements in regard to forecasts, targets and plans of Mitsubishi UFJ Financial Group, Inc. ("MUFG") and its group companies (collectively, "the group"). These forward-looking statements are based on information currently available to the group and are stated here on the basis of the outlook at the time that this document was produced. In addition, in producing these statements certain assumptions (premises) have been utilized. These statements and assumptions (premises) are subjective and may prove to be incorrect and may not be realized in the future. Underlying such circumstances are a large number of risks and uncertainties. Please see other disclosure and public filings made or will be made by MUFG and the other companies comprising the group, including the latest kessantanshin, financial reports, Japanese securities reports, Integrated reports and annual reports, for additional information regarding such risks and uncertainties. The group has no obligation or intent to update any forward-looking statements contained in this document. In addition, information on companies and other entities outside the group that is recorded in this document has been obtained from publicly available information and other sources. The accuracy and appropriateness of that information has not been verified by the group and cannot be guaranteed. The financial information used in this document was prepared in accordance with Japanese GAAP (which includes Japanese managerial accounting standards), unless otherwise stated. Japanese GAAP and U.S. GAAP, differ in certain important respects. You should consult your own professional advisers for a more complete understanding of the differences between U.S. GAAP and Japanese GAAP and the generally accepted accounting principles of other jurisdictions and how those differences might affect the financial information contained in this document. This document is being released by MUFG outside of the United States and is not targeted at persons located in the United States. Definitions of figures used in this document Consolidated : Non-consolidated : the Bank (consolidated) : Mitsubishi UFJ Financial Group (consolidated) Simple sum of MUFG Bank (non-consolidated) and Mitsubishi UFJ Trust & Banking Corporation (non-consolidated) MUFG Bank (consolidated) Digital Service Retail & Commercial Banking MUFG: the Bank (BK): the Trust Bank (TB): the Securities HD (SCHD): MUMSS: Mitsubishi UFJ Financial Group MUFG Bank Mitsubishi UFJ Trust & Banking Corporation Mitsubishi UFJ Securities Holdings Mitsubishi UFJ Morgan Stanley Securities Morgan Stanley MUFG Securities Mitsubishi UFJ NICOS DS: R&C: JCIB: GCIB: GCB: Japanese Corporate & Investment Banking Global Corporate & Investment Banking Global Commercial Banking MSMS: AM/IS: Asset Management & Investor Services NICOS: MTBP: Medium-Term Business Plan MUAH: MUB: KS: Bank Danamon (BDI): FSI: Bank Danamon Indonesia First Sentier Investors MUFG Americas Holdings Corporation MUFG Union Bank Bank of Ayudhya (Krungsri, KS) All figures are on a managerial accounting basis. Unless otherwise noted, foreign exchange rates are based on assumed rates determined for internal managerial accounting purposes. Calculated based on Risk Assets (R&C, JCIB, GCIB and GCB) or economic capital (AM/IS and Global Markets) Calculated based on net profits and excluding mid- to long-term foreign currency funding costs The finalized Basel III reforms basis. Managerial accounting basis. (Estimated figure) • • ROE : • RWA: MUFG 48