#1Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Results for the First Six Months of FY2023 Presentation Materials November 2, 2023 Mitsubishi Corporation Forward-Looking Statements - This release contains forward-looking statements about Mitsubishi Corporation's future plans, strategies, beliefs and performance that are not historical facts. Such statements are based on the Company's assumptions and beliefs in light of competitive, financial and economic data currently available and are subject to a number of risks, uncertainties and assumptions that, without limitation, relate to world economic conditions, exchange rates and commodity prices. - Accordingly, Mitsubishi Corporation wishes to caution readers that actual results may differ materially from those projected in this release and that Mitsubishi Corporation bears no responsibility for any negative impact arising from the use of this release. Notes Regarding This Release Consolidated net income in this presentation shows the amount of net income attributable to owners of the Parent, excluding non-controlling interests. Equity shows the amount of equity attributable to owners of the Parent, excluding non-controlling interests, which is a component of total equity. * "FY2022" refers to fiscal 2022 (April 1, 2022 to March 31, 2023). * "FY2023" refers to fiscal 2023 (April 1, 2023 to March 31, 2024). Copyright 2023 Mitsubishi Corporation#2Mitsubishi Corporation Contents 1 Progress of Midterm Corporate Strategy 2024 2 Detailed Results for the First Six Months of FY2023 3 Supplementary Information of Consolidated Financial Statements 4 Supplementary Information by Segment Copyright © 2023 Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation 1#3Mitsubishi Corporation 1 Progress of Midterm Corporate Strategy 2024 November 2, 2023 Mitsubishi Corporation 2 Copyright © 2023 Mitsubishi Corporation#4November 2, 2023 Mitsubishi Corporation Mitsubishi Corporation Summary of Results for the First Six Months of FY2023 (Billions of Yen) First Six Months FY2022 FY2023 Change Forecast for FY2023 Released in May Revised Change Consolidated 720.0 466.1 (253.9) Net Income Consolidated Net Income Dividend per share (Before stock split) 920.0 950.0 +30.0 200 yen 210 yen +10 yen Year-over-year fluctuation As a result of steady earnings in each segment, profit in the first half of the fiscal year reached ¥466.1 billion, the second highest ever, surpassed only by the previous year. ✓ Profit decreased year-over-year due to previous year's soaring resource prices and capital gains, but profit still remained strong and is expected to remain solid going forward. Forecast for the year Profit in Natural Gas, Automotive & Mobility, Industrial Materials, Consumer Industry, and other segments has been firm and is expected to increase. As such, we have increased the annual forecast for consolidated net income by ¥30.0 billion to ¥950.0 billion. ✓ To further enhance corporate value, we will accelerate efforts to implement the value-added cyclical growth model and other policies outlined in Midterm Corporate Strategy 2024. Shareholder returns ✓ Per-share dividend forecast revised upward by \10 to ¥210, in line with the higher revised earnings forecast and the continuation of the progressive dividend policy. Forecast for the year and shareholder returns 920.0 Share buybacks ¥100.0 bn Dividend per Share ¥200 (Before stock split) (Approx.¥275.0 bn) Original forecast (Released May 9) Total payout Approx. ¥375.0 bn ✓ Food Industry and Chemical Solution 72.0 (Billions of Yen) (29.0) (13.0) Concern over possible future losses, etc. ✓ Firm performance in Natural Gas, Automotive & Mobility, Industrial Materials, Consumer Industry, etc. Segments with increased profit Segments with decreased profit Other segments Total payout ratio: Approx. 40% 950.0 Share buybacks ¥100.0 bn Dividend per Share ¥210 (Before stock split) (Approx.¥290.0 bn) Revised forecast (Released Nov. 2) Total payout Approx. ¥390.0 bn Total payout ratio: Approx. 40% Copyright © 2023 Mitsubishi Corporation 3#5Cash In Cash Out Mitsubishi Corporation Cash Flow Allocation Under Midterm Corporate Strategy 2024 (First Six Months of FY2023) November 2, 2023 Mitsubishi Corporation Cash Flow (Three-year plan for Midterm Corporate Strategy 2024) Released May 9, 2023 Underlying operating CF (¥3.0-¥3.5 Trillion) First Six Months of FY2023 Details *1 ¥608.2 Billion Underlying operating CF is making solid progress. CF from divestments ¥467.9 Billion (¥1.5-\2.0 Trillion) Investments (¥3.0 Trillion) Adjusted FCF (Reference) Cumulative results under Midterm Corporate Strategy 2024 to date ¥1.9 Trillion (¥1,892.9 bn) CF from divestments is also making solid progress with the progress of asset replacement in Food Industry and Urban Development. ¥1.2 Trillion (¥1,172.3 bn) Related Pages P5 55 ¥434.0 Billion Maintain/Expand Earnings Base EX-related ¥0.3 Trillion ¥0.1 Trillion ¥1.3 Trillion DX/Growth-related Investment (¥1,315.9 bn) 67 P6 P7 ¥642.1 Billion Total of underlying operating cash flows and investing cash flows ¥1.7 Trillion (\1,749.3 bn) *1 Operating cash flows excluding changes in working capital whilst including repayments of lease liabilities (For details, please refer to P22) Cash Out Shareholder Returns (More than ¥1.5 Trillion) ¥1.1 Trillion P8 ¥0.7 trillion for FY2022 (resolved) / ¥0.4 trillion for FY2023 (forecast) Copyright 2023 Mitsubishi Corporation 4#6Mitsubishi Corporation Growth Potential Promoting the Value-Added Cyclical Growth Model November 2, 2023 Mitsubishi Corporation We continue to optimize our business portfolio and reallocate managerial resources to investment in future growth. Value-Added Cyclical Growth Model Growth Drivers Core Businesses Managerial Resources New Seeds of Growth Transition to Self-Sustaining Businesses 1 Strategic rebalancing of business portfolio While the basic principle for high-earnings, high-growth businesses are to reinforce and expand, changes in business environment are carefully monitored to strategically reallocate managerial resources to areas of new growth. Examples of Strategic Divestment • Urban Development Group • Food Industry Group Sale of real estate management company (¥84.1 billion in capital gains at FY2022 1Q) Sale of affiliated company (¥36.9 billion in capital gains at FY2023 1Q) Earnings Potential 2 Increasing capital efficiency through asset replacement and earnings improvement Based on our Business Management Systems, a list of businesses of which ROIC does not reach the industry standard and/or growth potential is limited has been made to determine which business to divest or to hold for improvement. Each Business Group, based on its given target, individually works to increase capital efficiency by either reducing deficits through divestment or improving earnings from businesses determined to be held within its portfolio. Replace Objectives (through FY2024) Approx. 80 companies Progress (as of FY2023 2Q end) Approx. 40 companies already divested or to be divested by March 2025 Quantitative Effect (through FY2024) Single-year profit improvement of ¥100.0 billion (Billions of yen) Hold Approx. 80 companies Continuing efforts to realize positive EVA Baseline FY2021 Approx. 30.0 Fully reviewed and monitored by specialized team FY2022 FY2023 Copyright © 2023 Mitsubishi Corporation Approx. 100.0 FY2024 (forecast) 5#7Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Breakdown and Progress of Investment Plan We are steadily executing investments in line with the investment plans of our Midterm Corporate Strategy 2024. Opportunities for potential investments, on top of those already realized, add up to over ¥ 3 trillion for this Midterm Corporate Strategy period. We continue to abide by our investment discipline in selecting projects for future growth. Investment Area Scale of Investment Executed Investments (accumulated cash out) Maintain/Expand Earnings Base Approx. ¥1.0 Trillion ¥0.8 Trillion Major Investments (cumulative cash out as of FY2023 2Q end are shown in approximate numbers) ■Metallurgical coal business (Australia) (¥110 billion) Convenience store business (¥80 billion) TOYOBO MC Corporation (¥30 billion) Post investment decisions Major Investment Pipeline (excluding sustaining investment in existing businesses) ■Salmon farming business (acquisition of additional farming licenses, construction of smolt facility) EX-Related Renewables/ Electrification Energy Renewable Energy Mineral Resources LNG Next- Generation Energy, etc. DX/Growth-Related Investment ¥0.2 Trillion Eneco (Netherlands) (¥120 billion) Power business (U.S.) (¥90 billion) ¥0.1 Trillion Approx. ¥1.2 Trillion ¥0.1 Trillion Approx. ¥0.8 Trillion ¥0.1 Trillion Copyright 2023 Mitsubishi Corporation Three Offshore wind farms (Japan) HKW* Offshore wind farm (Netherlands) Quellaveco copper mine development (Peru) (¥80 billion) Aurukun bauxite mine (Australia) Marimaca copper mine (Chile) Turnagain nickel mine (Canada) Lithium and reduced iron Tangguh LNG Expansion (Indonesia) LNG Canada Shale gas business (Canada) Cameron LNG Expansion (U.S.) ☐ CCUS✶✶ (Indonesia, Australia, U.S.) New LNG projects EX Fund Startup investments (Hydrogen, carbon management) Hydrogen and ammonia SAF (Sustainable Aviation Fuel) ☐ Synthetic fuels (e-methane, e-fuel, etc.) Promoting DX in each business area Large-scale data centers to support the growing use of digital technologies (Japan) Urban development and urban management Urban development and urban management HKW: Hollandse Kust West Site VI **CCUS: Carbon Capture, Utilization and Storage 6#8Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Start of Contribution to Revenues by Investment Area Investments made before Midterm Corporate Strategy 2024 are steadily beginning to contribute to earnings. With an expanding pipeline of diverse projects that will start contributing to earnings beyond April 2025, we plan to continue investing in those businesses with the potential of becoming our Core Businesses in the future. Investment Area Maintain/Expand Earnings Base Midterm Corporate Strategy 2024 (until March 2025) Post investment decisions Next Midterm Corporate Strategy and beyond (April 2025-) Ongoing contribution to earnings from metallurgical coal, food, automotive and other businesses Salmon farming business (acquisition of additional farming licenses) TOYOBO MC Corporation (business started Apr. 2023) ■Salmon farming business (construction of smolt facility) EX-Related Energy Renewables/ Electrification Renewable Energy Mineral Resources Eneco (Netherlands) ■Power business (U.S.) Quellaveco copper mine (Peru) (production started from 2022) Three offshore wind farms (Japan) (operation starts from 2028 and beyond) HKW offshore wind farm (Netherlands) (operation starts from 2026) Aurukun bauxite mine (Australia) Marimaca copper mine (Chile) and other new copper projects Turnagain nickel mine (Canada) Lithium and reduced iron LNG Next- Generation Energy, etc. Tangguh LNG Expansion (Indonesia) (operations started Sep. 2023) ■Shale gas business (Canada) Start of production at LNG Canada □ Cameron LNG Expansion (U.S.), new LNG projects OCCUS (Indonesia, Australia, U.S.) DX/Growth-Related Investment Data center business Urban development and urban management Copyright © 2023 Mitsubishi Corporation (Development Phase) EX fund Startup investments (hydrogen, carbon management) Hydrogen and ammonia SAF (Sustainable Aviation Fuel) Synthetic fuels (e-methane, e-fuel, etc.) Advancing DX in each business area (demand forecasting, distribution, automated ordering, etc.) Urban development and urban management 7#9Mitsubishi Corporation Shareholder Returns and Stock Split November 2, 2023 Mitsubishi Corporation Shareholder Returns Dividends: Per-share dividend forecast revised upward to ¥210 (+\10 from the May 9 forecast) under our progressive dividend policy, comprehensively considering: higher revised earnings forecast in multiple segments, projected steady growth, and market expectations. (Billions of Yen) Midterm Corporate Strategy 2021 Midterm Corporate Strategy 2024 700 ■Dividend Share buybacks (progressive dividends) 600 500 400 300 ¥198.7 bn ¥197.8 bn 200 ¥132 ¥134 per share per share ¥70.0 bn ¥221.5 bn ¥150 per share Additional returns ¥200.0 bn ¥100.0 bn ¥170.0 bn ¥100.0 bn Change in dividend per share due to stock split ¥259.3 bn ¥180 per share Approx. ¥275.0 bn ¥200 per share Approx. ¥290.0 bn ¥210 per share ¥210 ¥70 per share No change to total dividends paid FY2019 FY2020 FY2021 FY2022 FY2023 Released May 9 (Forecast) Approx. Total Payout ¥198.7 bn ¥197.8 bn ¥291.5 bn ¥629.3 bn ¥375.0 bn Total Payout Ratio (excl. additional returns) 37% 115% 31% 53% (36%) FY2023 Released Nov. 2 (Forecast) Approx. ¥390.0 bn Approx. ¥290.0 bn ¥70 per share or more Target total payout ratio of around 40% FY2024 (Forecast) Stock split Objective: To lower the price per investment unit for a more investor-friendly environment, increase liquidity and expand the investor base. Split ratio 1:3 Effective January 1, 2024 Annual dividend per share (after adjustment for split) ¥70 Copyright 2023 Mitsubishi Corporation 8#10Mitsubishi Corporation (Reference) Progress of Quantitative Targets November 2, 2023 Mitsubishi Corporation Net Income/CF Quantitative Targets of Midterm Corporate Strategy 2024 Maintain/Improve Capital Efficiency Ensuring Financial Soundness Consolidated net income (FY2024) ¥800.0 Billion Double-Digit ROE Underlying operating cash flows Approx. Maintain High Single-A Credit Rating Post-Returns Free Cash Flow > 0 (Over Midterm Strategy's 3-Year Period) ¥1.0 Trillion per Year Forecast for FY2023 [As of September 30, 2023] Consolidated net income ¥950.0 Billion Earnings independent ¥700.0 Billion ROE (FY2023 forecast) 11.2% of market factors* (First six months of FY2023) S&P: Moody's: A (outlook stable) A2 (outlook stable) [As of September 30, 2023] Adjusted Free CF ¥642.1 Billion [First six months of FY2023] (¥340.0 Billion) Underlying operating CF Approx. ¥1.1 Trillion ¦ (Full year forecast) (Forecast of the total payout of FY2023) (¥0.4 Trillion) *Earnings after adjustment based on market price assumptions for the year ending March 2025 made when formulating Midterm Corporate Strategy 2024. (Adjustment to: foreign exchange and resource prices (metallurgical coal, copper, iron ore, crude oil, gas and LNG)) Copyright © 2023 Mitsubishi Corporation 9#11Mitsubishi Corporation Copyright © 2023 Mitsubishi Corporation 2 Detailed Results for the First Six Months of FY2023 November 2, 2023 Mitsubishi Corporation 10#12Mitsubishi Corporation (Details) Year-over-year Net Income by Segment November 2, 2023 Mitsubishi Corporation Consolidated Net Income: First six months of FY2022: 720.0 First six months of FY2023: 466.1 (Billions of Yen) [YOY (253.9)] Natural Gas FY22 89.4 FY22 46.4 Trading losses in the LNG sales business in the previous year. FY23 81.4 [+35.0] FY23 65.6 [(23.8)] Industrial Materials FY22 FY22 37.3 42.1 Decreased earnings in the Steel business. FY23 34.4 [(2.9)] FY23 63.6 [+21.5] FY22 22.9 Chemicals Solution FY22 14.6 Deduction of deferred tax liabilities in the FY23 9.4 [(13.5)] Chemical manufacturing business in the previous year and decreased earnings in the Petrochemical business. FY23 25.8 [+11.2] Mineral Resources FY22 321.5 FY22 (9.1) Decreased earnings due to lower Australian metallurgical coal prices. FY23 134.1 [(187.4)] FY23 5.2 [+14.3] FY22 17.4 FY23 16.7 [(0.7)] Industrial Infrastructure FY22 Copyright © 2023 Mitsubishi Corporation Automotive & Mobility Decreased earnings in the Russia-related business and the ASEAN automotive business. Food Industry Gains on sale of an affiliated company. Consumer Industry Increased earnings in the Convenience store business and impairment losses on investment in overseas business in the previous year. Power Solution Increased earnings in the European integrated energy business despite decreased earnings in the Overseas power business. 114.6 FY23 12.1 [(102.5)] Urban Development Gains on sale of a real estate management company in the previous year and decreased earnings in the North American real estate business. 11#13Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation (Details) Forecast for FY2023 by Segment Consolidated Net Income: Forecast released on May 9: Revised forecast: 920.0 (Billions of Yen) 950.0 [Revised +30.0] May 9 Forecast 146.0 Natural Gas May 9 Forecast 110.0 Increased trading profit in the LNG sales business and earnings in the LNG-related business. Revised 170.0 [+24.0] May 9 Forecast 46.0 Revised 57.0 [+11.0] Industrial Materials Increased earnings in the North American plastic building materials business. Automotive & Mobility Increased earnings at Mitsubishi Motors. Revised 128.0 [+18.0] May 9 Forecast 72.0 Revised 64.0 [(8.0)] May 9 25.0 Chemicals Solution Forecast May 9 Forecast 29.0 Decreased earnings in the Petrochemical business. Revised 20.0 [(5.0)] Revised 38.0 [+9.0] May 9 Forecast 298.0 Revised 298.0 [-] Mineral Resources May 9 Forecast 109.0 Revised 113.0 [+4.0] May 9 Forecast 27.0 Industrial Infrastructure May 9 Forecast 45.0 Increased earnings in the Industrial machinery business. Revised 33.0 [+6.0] Revised 45.0 [-] Copyright © 2023 Mitsubishi Corporation Food Industry Decreased earnings in the Overseas food business. Consumer Industry Increased earnings in the Convenience store business. Power Solution Increased earnings in the European integrated energy business despite decreased earnings in the Overseas power business. Urban Development 12#14Mitsubishi Corporation (Details) Market Conditions Foreign Exchange, Commodity Prices and Interest Rates November 2, 2023 Mitsubishi Corporation Revised Forecast for Forecast for FY2023 (Released May 9) *1 FY2023 (Released Nov. 2)*1 Change First six months of FY2023 Consolidated net income sensitivities for FY2023 Foreign Exchange 130.00 140.53 +10.53 *2 141.06 ¥5.0 billion (JPY/US$) (JPY/US$) (2nd Half 140.00) Crude Oil *4 *3 (Brent) (US$/BBL) Copper (LME) (US$/MT) [US$/lb] Metallurgical Coal (FOB Australia) (US$/MT) Iron Ore 83 82 (1) 83 ¥1.5 billion (US$/BBL) *5 8,378 8,400 +22 8,410 ¥2.7 billion (US$100/MT) [380] [381] [ +1 ] [381] [¥5.8 billion (US¢10/lb) lb)] (2nd Half [ 380 ]) Undisclosed 253 Undisclosed *6 (FOB Australia) 101 105 +4 110 ¥0.75 billion (US$/MT) (US$/MT) JPY Interest (%) 0.15 0.11 TIBOR 3M (0.04) 0.07 *7 US$ Interest (%) SOFR 4.80 5.18 +0.38 4.96 *7 (calculated on 3M basis) *1 The annual average is shown for the forecast for the year. *2 Increase or decrease in earnings assuming the April to March average of JPY/US$ depreciates or appreciates by ¥1, respectively. Actual results are also affected by such factors as differences from the Company's fiscal year-end and cross rates between other currencies. *3 To account for differences from the Company's fiscal year-end and the timing when crude oil price is actually reflected in LNG sales price, the 12-month average price from six months earlier (e.g. for the year ending March: average price from Oct. to Sep.) and from three months earlier (e.g. for the year ending March: average price from Jan. to Dec.) is utilized. *4 The impact on actual results is also affected by such factors as foreign currency movements and production/sales volume. Because "Dividend income (after tax)" in the LNG Business is impacted by affiliates' dividend payout ratios and the timing of their dividend resolutions, etc., the direct impact on this item of crude oil price fluctuations is currently limited. Accordingly, this item has been excluded from the calculation of consolidated net income sensitivities for the full fiscal year. *5 Actual results are also affected by such factors as the grade of mined ore, the status of production/operations and reinvestment plans (capital expenditure). *6 To account for differences from the Company's fiscal year-end, the 12-month average price from three months earlier (e.g. for the year ending March: average price from Jan. to Dec.) is utilized. Actual results are also affected by such factors as the grade of iron ore and the status of production/operations. *7 The negative effect of rising interest rates is mostly offset by an increase in operating and investment profits. However, a rapid rise in interest rates could have a temporary negative effect. Copyright 2023 Mitsubishi Corporation 13#15Mitsubishi Corporation 3 Supplementary Information of Consolidated Financial Statements November 2, 2023 Mitsubishi Corporation Note on previous fiscal year figures In accordance with reorganization and changes in accounting policies, etc., implemented the current fiscal year, the figures in the financial statements and indicators for previous fiscal years have been retroactively adjusted for year-over-year comparison. Copyright © 2023 Mitsubishi Corporation 14#16Mitsubishi Corporation Breakdown of Consolidated Net Income November 2, 2023 Mitsubishi Corporation FY2022 H1 FY2023 Change H1 Revised Forecast for FY2023 (Released Nov. 2) Forecast (Released May 9) One-off (Billions of Yen) Net Income excl. One-off Total One-off Net Income excl. One-off Total One-off Net Income excl. One-off Total Total Progress Total Natural Gas (1.9) 48.3 46.4 81.4 81.4 1.9 33.1 35.0 170.0 48% 146.0 Industrial Materials 1.4 35.9 37.3 34.4 34.4 (1.4) (1.5) (2.9) 57.0 60% 46.0 Chemicals Solution 4.9 18.0 22.9 9.4 9.4 (4.9) (8.6) (13.5) 20.0 47% 25.0 Mineral Resources 6.8 314.7 321.5 134.1 134.1 (6.8) (180.6) (187.4) 298.0 45% 298.0 Industrial 17.4 17.4 16.7 16.7 (0.7) (0.7) 33.0 51% 27.0 Infrastructure Automotive & Mobility 0.4 89.0 89.4 (0.8) 66.4 65.6 (1.2) (22.6) (23.8) 128.0 51% 110.0 Food Industry 2.6 39.5 42.1 36.9 26.7 63.6 34.3 (12.8) 21.5 64.0 99% 72.0 Consumer Industry (2.9) 17.5 14.6 25.8 25.8 2.9 8.3 11.2 38.0 68% 29.0 Power Solution (5.1) (4.0) (9.1) (5.3) 10.5 5.2 (0.2) 14.5 14.3 113.0 5% 109.0 Urban Development 84.1 30.5 114.6 12.1 12.1 (84.1) (18.4) (102.5) 45.0 27% 45.0 Others 22.9 22.9 17.9 17.9 (5.0) (5.0) (16.0) 13.0 Total 90.3 629.7 720.0 30.8 435.3 466.1 (59.5) (194.4) (253.9) 950.0 49% 920.0 Copyright 2023 Mitsubishi Corporation 15#17Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Cash Flows by Segment (Results for the First Six Months of FY2023) Major Items of Cash Flows (Billions of Yen) Deemed operating Deemed investing cash flows Deemed free cash flows Sales and Collection New/Sustaining Net cash flows Investments Natural Gas 68.1 34.9 (39.2) (4.3) 63.8 Industrial Materials 55.4 6.3 (9.7) (3.4) 52.0 Chemicals Solution 12.7 1.1 (2.0) (0.9) 11.8 Mineral Resources 148.7 34.5 (57.6) (23.1) 125.6 Industrial Infrastructure 44.2 20.8 (23.4) (2.6) 41.6 Automotive & Mobility 70.3 20.0 (14.4) 5.6 75.9 Food Industry 46.7 66.1 (27.0) 39.1 85.8 Consumer Industry 74.2 19.0 (37.3) (18.3) 55.9 Power Solution 59.4 13.1 (103.5) (90.4) (31.0) Urban Development 0.6 122.3 (81.1) 41.2 41.8 580.3 338.1 (395.2) (57.1) 523.2 Group Total (a) Supplementary Information Underlying operating cash flows Sales and Collection Corporate Total (b) Difference (a-b) * 608.2 (27.9) 467.9 (129.8) Investing cash flows New/Sustaining Investments (434.0) 38.8 Net Adjusted free cash flows 33.9 642.1 (91.0) (118.9) *Includes cash flows from Others, intersegment eliminations, etc. Also includes differences arising from discrepancies between adjustments to segment cash flows and those to corporate cash flows for the items shown below. • Current portion of securities and time deposits (this item is not included in investing cash flows by segment) Copyright 2023 Mitsubishi Corporation 16#18Mitsubishi Corporation Major Items by Segment (Current Period) November 2, 2023 Mitsubishi Corporation MAJOR BALANCE SHEET ITEMS (FY2023 H1) (Billions of Yen) Total assets Cash and cash equivalents, Natural Gas 2,190.2 48.2 Industrial Chemicals Mineral Materials Solution Resources 1,564.2 731.0 4,044.6 19.2 8.2 68.1 Industrial Infra- structure 1,395.8 103.7 35.9 Automotive Food Consumer Power & Mobility Industry Industry Solution Development 1,895.6 2,199.1 3,988.7 2,807.0 1,186.1 88.7 87.6 Urban Others Total 386.6 34.9 889.6 22,891.9 709.9 1,591.0 Time deposits Trade and other receivables (Current 423.7 1,030.1 467.9 1,390.8 495.8 1,078.7 757.5 1,091.6 662.0 215.1 (477.3) 7,135.9 and Non-current), Inventories Investments accounted for using 794.3 238.6 134.5 561.0 262.5 481.8 376.0 108.7 486.9 752.7 49.6 4,246.6 the equity method Property, plant, equipment and 364.0 113.1 8.6 1,083.8 137.7 53.3 343.6 358.2 752.1 6.9 120.6 3,341.9 investment property Intangible assets and goodwill* 1.9 12.2 3.1 4.9 94.8 6.4 198.3 527.3 361.5 0.1 31.5 1,242.0 Right-of-use assets 139.3 9.0 4.7 23.7 70.9 2.4 70.1 1,137.3 75.1 8.5 85.0 1,626.0 Other investments 291.1 65.9 88.8 343.5 51.1 141.3 211.6 303.8 36.2 123.2 220.1 1,876.6 Trade and other payables 93.1 374.8 281.0 283.0 247.9 163.1 294.3 1,230.0 432.8 7.8 176.5 3,584.3 (Current and Non-current) NATURAL GAS / MINERAL RESOURCES (Billions of Yen) LNG Natural Gas Others Mineral Resources MDP Copper Others Investments accounted for using 531.7 262.6 0.3 386.9 173.8 the equity method Property, plant, equipment and 23.5 340.5 1,083.2 0.0 0.6 investment property Intangible assets and goodwill* 1.9 Right-of-use assets Other investments 133.6 290.0 0.0 5.7 1.1 0.2 0.0 4.7 22.3 0.0 1.4 2.0 311.9 29.6 *More than half is comprised of intangible assets (incl. those subject to depreciation). Goodwill includes amounts attributable to non-controlling interests. MAJOR INCOME STATEMENT ITEMS (FY2023 H1) (Billions of Yen) Industrial Natural Gas Industrial Chemicals Mineral Materials Solution Resources Automotive Infra- structure Gross profit 36.4 80.7 34.8 183.6 64.9 SG&A expenses (20.7) (55.7) (21.2) (40.5) (51.1) & Mobility 97.7 (56.8) Food Industry 153.1 (111.6) Consumer Power Industry Solution Urban Development Others Total 396.4 75.4 10.7 19.6 1,153.3 (337.1) (72.5) (16.3) (28.3) (811.8) Dividend income 11.5 8.4 0.7 25.2 1.6 4.9 14.5 1.4 0.0 0.5 2.6 71.3 Income from investments accounted for using the equity method 70.0 22.5 1.0 29.9 8.1 49.1 10.2 7.1 7.2 18.6 4.3 228.0 Net income 81.4 34.4 9.4 134.1 16.7 65.6 63.6 25.8 5.2 12.1 17.8 466.1 Depreciation, Depletion and Amortization 7.2 7.8 2.1 34.6 23.4 5.5 29.1 127.1 36.2 1.4 21.1 295.5 Copyright © 2023 Mitsubishi Corporation 17#19Mitsubishi Corporation Major Items by Segment (Previous Period) MAJOR BALANCE SHEET ITEMS (FY2022 End) November 2, 2023 Mitsubishi Corporation Total assets Natural Gas 2,043.0 Industrial Chemicals Mineral Materials Solution Resources 1,461.7 691.5 4,098.1 Industrial Infra- structure Automotive & Mobility 1,329.2 2,021.9 Cash and cash equivalents, 56.2 16.5 12.0 51.0 77.5 71.1 Food Consumer Power Industry Industry Solution Development 2,103.0 3,882.1 2,716.2 1,164.6 44.2 377.6 93.1 33.1 Urban Others (Billions of Yen) Total 636.2 22,147.5 820.0 1,652.3 Time deposits Trade and other receivables (Current 432.3 969.2 447.6 1,558.7 510.5 1,149.5 742.2 985.7 656.1 200.8 (740.5) 6,912.1 and Non-current), Inventories Investments accounted for using 714.8 176.2 121.2 549.9 240.5 444.5 358.3 100.9 452.5 722.0 40.7 3,921.5 the equity method Property, plant, equipment and 313.9 107.9 7.7 995.1 134.7 48.7 316.7 366.1 653.2 7.4 122.6 3,074.0 investment property Intangible assets and goodwill* 1.9 11.7 3.0 4.4 96.4 7.0 184.3 528.6 337.4 0.1 32.6 1,207.4 Right-of-use assets 128.1 9.2 6.0 22.8 66.7 1.8 64.5 1,145.0 59.5 3.8 82.9 1,590.3 Other investments 235.5 90.8 80.3 413.3 46.4 122.1 189.9 297.4 34.2 114.3 192.7 1,816.9 Trade and other payables 103.1 358.9 251.4 279.2 261.4 175.2 264.8 1,112.4 426.8 15.9 179.2 3,428.3 (Current and Non-current) NATURAL GAS / MINERAL RESOURCES (Billions of Yen) Natural Gas Mineral Resources LNG Others MDP Copper Others Investments accounted for using 488.0 226.8 0.3 388.5 161.1 the equity method Property, plant, equipment and 22.6 291.3 994.6 0.0 0.5 investment property Intangible assets and goodwill* 1.9 0.0 0.1 0.0 4.3 Right-of-use assets Other investments 122.7 235.3 5.4 21.1 0.0 1.7 0.2 1.8 377.8 33.7 *More than half is comprised of intangible assets (incl. those subject to depreciation). Goodwill includes amounts attributable to non-controlling interests. MAJOR INCOME STATEMENT ITEMS (FY2022 H1) (Billions of Yen) Industrial Natural Industrial Chemicals Mineral Automotive Gas Materials Solution Gross profit (25.5) 90.0 49.2 SG&A expenses (20.6) (54.5) Resources 420.3 (25.7) (36.9) Infra- structure 58.1 (47.8) & Mobility Industry 122.4 (48.1) 163.1 Food Consumer Power Industry 354.5 Urban Others Total Solution Development 33.1 13.2 (107.8) (317.5) (58.0) (16.0) 20.3 (30.0) 1,298.7 (762.9) Dividend income 16.1 0.9 1.0 33.4 0.8 4.5 2.6 1.8 0.0 0.8 4.9 66.8 Income from investments accounted for using the equity method 92.4 25.4 9.1 28.6 5.4 45.6 17.8 3.7 6.0 31.2 9.5 274.7 Net income 46.4 37.3 22.9 321.5 17.4 89.4 42.1 14.6 (9.1) 114.6 22.9 720.0 Depreciation, Depletion and Amortization 7.2 7.6 3.2 33.2 23.2 5.8 29.1 120.8 30.7 1.3 20.6 282.7 Copyright © 2023 Mitsubishi Corporation 18#20Mitsubishi Corporation Major Index Major Index Investment leverage ratio *1 Current ratio *2 Shareholders' equity ratio *2 Equity per share /BPS (yen) Total assets (Billion yen) Interest-bearing debt (Gross/excl. lease liabilities) (Billion yen) Interest-bearing debt (Net/excl. lease liabilities) (Billion yen) Lease liabilities (Billion yen) ROE/ROA *3 Return on Equity *3 Return on Assets Exchange Rates *4 Term End *5 Average November 2, 2023 Mitsubishi Corporation FY2022 End FY2023 Change H1 27.3% 26.5% (0.8%) 136.1% 135.6% (0.5%) 36.4% 38.3% 1.9% 5,645 6,301 656 22,147.5 22,891.9 744.4 4,889.9 4,908.9 19.0 3,237.6 3,317.9 80.3 1,667.7 1,688.8 21.1 FY2022 FY2023 (Forecast) Change 15.8% 5.4% 11.2% 4.2% (4.6%) (1.2%) JPY/US$ JPY/AU$ JPY/EUR FY2022 FY2023 133.53 135.50 149.58 FY2022 89.69 FY2023 96.06 FY2022 145.72 FY2023 158.00 141.06 92.66 93.22 140.97 153.39 *1 [PP&E + Investments + Loans + Intangible assets and goodwill]+[Total equity + Hybrid capital] - 100% (Hybrid capital: 50% of the Hybrid finance amount) *2 "Equity" refers to the equity attributable to owners of the Parent. Equity per share /BPS is shown based on number of shares before stock split. *3 Uses profit attributable to owners of the Parent as numerator. *4 FY2022 shows exchange rates at the end of March 2023, FY2023 shows rates at the end of September 2023. *5 FY2022 shows the annual average rate, FY2023 shows the 6-month average rate from April to September 2023. Copyright 2023 Mitsubishi Corporation 19#21Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Balance Sheet Consolidated Balance Sheet (Billions of Yen) Change Remarks Accounts with material changes FY2022 End FY2023 H1 Total assets 22,147.5 22,891.9 744.4 Current assets 9,109.3 9,013.1 (96.2) Inventories 1,771.4 1,848.4 Assets classified as held for sale 243.7 40.7 Non-current assets 13,038.2 13,878.8 Investment accounted for using the 3,921.5 4,246.6 77.0 Increased transaction volumes and depreciated JPY (203.0) Sale of the European automobile finance business and investment properties 840.6 325.1 Depreciated JPY and greater equity earnings equity method Other investments 1,816.9 1,876.6 59.7 Changes in fair value Trade and other receivables 1,013.4 1,132.6 Property, plant and equipment 2,992.0 3,265.3 119.2 Depreciated JPY and loan execution 273.3 Additional acquisition and depreciated JPY Total liabilities and equity 22,147.5 22,891.9 744.4 Total liabilities 13,028.5 13,025.3 Current liabilities 6,694.7 6,649.1 Bonds and borrowings 1,395.9 1,475.8 Trade and other payables 3,369.0 3,520.3 Other financial liabilities 354.1 Income tax payables 185.4 Other current liabilities Non-current liabilities 719.3 295.8 77.4 603.7 6,333.8 6,376.2 Bonds and borrowings 3,494.0 3,433.1 Deferred tax liabilities 679.1 750.7 Total equity 9,119.0 9,866.6 (3.2) (45.6) 79.9 Transfer from non-current liabilities 151.3 Seasonal increase in the European integrated energy business and increased purchase (58.3) Decreased commodity derivative liabilities due to market fluctuation (108.0) (115.6) Decreased volume and price in precious metal lease transaction 42.4 (60.9) Transfer to current liabilities 71.6 Higher fair value of stocks 747.6 Equity attributable to owners of 8,065.6 8,777.7 712.1 the Parent Treasury stock (124.1) (250.8) Exchange differences on 1,257.1 1,794.0 (126.7) Share buyback and cancellation of treasury stock 536.9 Depreciated JPY mainly against USD and AUD translating foreign operations Retained earnings 6,043.9 6,269.7 225.8 Greater net income than dividend payment and cancellation of treasury stock Copyright © 2023 Mitsubishi Corporation 20#22Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Supplementary Information of Consolidated Income Statement / Performances of Subsidiaries and Affiliates Consolidated Income Statement Attributable Incomes/Losses of Subsidiaries and Affiliates (Billions of Yen) (Billions of Yen) FY2022 FY2023 Accounts with material changes Change H1 H1 FY2022 H1 FY2023 Change H1 Gross profit 1,298.7 1,153.3 (145.4) Profit Entities 729.8 498.8 (231.0) SG&A expenses (762.9) (811.8) (48.9) Loss Entities (65.3) (59.0) + 6.3 Provision for doubtful receivables (10.5) (16.3) (5.8) Total 664.5 439.8 (224.7) Gains (losses) on investments 145.2 51.3 (93.9) Gains (losses) on FVTPL 15.0 6.1 (8.9) Gains (losses) on affiliated companies 130.2 45.2 (85.0) Composition of Profit/Loss Subsidiaries and Affiliates (Impairment losses) (0.5) (2.0) (1.5) FY2022 FY2023 Change (Gains on sales) 130.7 47.1 (83.6) End H1 Gains (losses) on disposal and sale Profit Entities 3.3 21.4 18.1 of PP&E and others Gains on sales 6.6 24.4 17.8 Number* Ratio 324 74.0% 322 74.7% (2) + 0.7% Losses on sales (0.7) (0.3) 0.4 Loss Entities Losses on retirement and disposal (2.6) (2.7) (0.1) Number* 114 Impairment losses on PP&E and others (4.2) (1.8) 2.4 Ratio 26.0% Other income (expense)-net 4.9 (1.3) (6.2) Total 438 109 25.3% 431 (5) (0.7%) (7) Finance income 89.7 126.8 37.1 Interests received 22.9 55.5 32.6 Dividends received 66.8 71.3 4.5 *When a subsidiary or an affiliate applies consolidation accounting, it is counted as "one" entity aggregating its own subsidiaries and affiliates. Copyright © 2023 Mitsubishi Corporation 21#23Mitsubishi Corporation Supplementary Information of Cash Flow Statement Consolidated Cash Flow Statement Accounts with material changes November 2, 2023 Mitsubishi Corporation (Billions of Yen) FY2022 H1 FY2023 Change Remarks H1 1,057.3 696.7 (360.6) Decreased operating income and less working capital in the previous fiscal year (98.8) Decreased net income Loan collection and inflow from the sale of investment properties exceeded gains on sale of a real estate management company in the previous fiscal year Cash flows from operating activities Underlying operating CF* 707.0 608.2 Cash flows from investing activities (20.5) 33.9 54.4 Adjusted free cash flows Cash flows from financing activities Dividends received from equity method affiliates 686.5 642.1 (44.4) (1,215.5) (797.3) 418.2 Less repayment of debts 190.3 202.6 12.3 Increased dividends mainly in Industrial Materials Group and Power Solution Group *Operating cash flows excluding changes in working capital calculated as follows, whilst including repayments of lease liabilities. Net income (including non-controlling interests) - DD&A - profits and losses related to investing activities - equity in earnings of affiliated companies not recovered through dividends - allowance for bad debt etc. - deferred tax Copyright © 2023 Mitsubishi Corporation 22#24Mitsubishi Corporation 4 Supplementary Information by Segment (Financials) November 2, 2023 Mitsubishi Corporation Notes for Equity in Earnings of Subsidiaries and Affiliates Material subsequent events are included when subsidiaries and affiliates have different reporting periods from Parent's (April to March). "Equity Holding" percentage shows the rate attributed to owners of Parent in MC's consolidated income statement. It is not necessarily equivalent to MC's voting rights. From the current fiscal year, all figures in the following tables are based on equity earnings (losses) recognized by the Company, including adjustments for accounting policy differences, DD&A on assets measured at fair value at the time of acquisition, and other consolidation adjustments. The figures for previous fiscal years have been retroactively adjusted for year-over-year comparison. Copyright © 2023 Mitsubishi Corporation 23#25Mitsubishi Corporation Natural Gas Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) Summary of Net Income ■10■2Q 3Q 4Q H2 forecast (revised) 200.0 FY2022 H1 FY2023 H1 170.6 170.0 Change Remarks 150.0 55.0 One-off (1.9) 1.9 88.6 Net Income excl. One-off Trading losses in the LNG sales business in 100.0 48.3 81.4 33.1 69.2 the previous year. 31.9 Total Forecast for FY2023 Revised Forecast for FY2023 Change 46.4 81.4 35.0 50.0 28.3 49.5 18.1 0.0 Remarks Progress Remarks FY2022 FY2023 146.0 170.0 Increased trading profit in the 24.0 LNG sales business and earnings in the LNG-related business. FY2022 End FY2023 H1 Change 48% Total Assets 2,043.0 2,190.2 147.2 Progress of FY2023 H1 results against the Revised Forecast Earnings of Major Subsidiaries and Affiliates One-off Gains/Losses Equity Subsidiary/ Affiliate ■LNG Business Company Name (Country) Business Description Holding FY2022 (%) H1 Equity in Earnings FY2023 H1 Change FY2023 One-off Gains 1Q 2Q 3Q 4Q Total Total One-off Losses Total Equity in eamings of subsidiaries and affiliates Dividend income from other subsidiaries and affiliates Shale Gas Business Equity in earnings of the Shale gas business Copyright © 2023 Mitsubishi Corporation 48.2 50.3 2.1 13.0 8.3 (4.7) FY2022 8.5 7.9 (0.6) Total of One-off Gains Total of One-off Losses 1Q ☐ 2Q 3Q 4Q Total 6.4 6.4 (1.9) (0.2) (13.6) (15.7) 24#26Mitsubishi Corporation Summary of Net Income Industrial Materials Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■1Q 2Q 3Q 4Q H2 forecast (revised) 70.0 62.0 FY2022 H1 FY2023 H1 Change Remarks 60.0 57.0 10.2 50.0 One-off 1.4 (1.4) 14.5 22.6 40.0 Net Income excl. One-off 35.9 34.4 (1.5) Decreased earnings in the Steel business. 30.0 18.1 15.3 20.0 Total Forecast Revised for FY2023 37.3 34.4 (2.9) 10.0 19.2 19.1 0.0 Forecast for Change FY2023 Remarks Progress 46.0 57.0 Increased earnings in the North 11.0 American plastic building materials business. Remarks FY2022 FY2023 Robust earnings in the North 60% American plastic building materials business. FY2022 End FY2023 H1 Change Total Assets 1,461.7 1,564.2 102.5 Progress of FY2023 H1 results against the Revised Forecast Earnings of Major Subsidiaries and Affiliates One-off Gains/Losses Subsidiary/ Affiliate Company Name (Country) Business Description Equity Holding Equity in Earnings FY2022 FY2023 1Q 2Q 3Q 4Q Total (%) H1 FY2023 H1 Change One-off Gains Total One-off Losses Subsidiary Cape Flattery Silica Mines Pty, Ltd. (Australia) Subsidiary Metal One Corporation (Japan) Steel products operations Manufacture and sales of silica sand 100.00 0.6 0.5 (0.1) Total 60.00 13.5 10.1 (3.4) Copyright © 2023 Mitsubishi Corporation FY2022 Total of One-off Gains Total of One-off Losses Ş| | 1Q 1.4 21 2Q 3Q 4Q Ş| | Total 1.4 25#27Mitsubishi Corporation Summary of Net Income Chemicals Solution Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■10■2Q 3Q 4Q H2 forecast (revised) 35.0 FY2022 H1 FY2023 H1 29.5 Change Remarks 30.0 5.7 25.0 One-off 4.9 Net Income excl. One-off 18.0 9.4 (8.6) Total Forecast Revised Forecast for Change for FY2023 FY2023 22.9 9.4 (4.9) Deduction of deferred tax liabilities in the Chemical manufacturing business in the previous year and decreased earnings in the (13.5) Petrochemical business. 0.9 20.0 20.0 6.9 15.0 10.6 10.0 16.0 3.1 5.0 6.3 0.0 Remarks Progress Remarks FY2022 FY2023 25.0 20.0 (5.0) Decreased earnings in the Petrochemical business. FY2022 End FY2023 H1 Change 47% Total Assets 691.5 731.0 39.5 (FY2022 figures reflect reclassification due to reorganization on Apr. 1) Earnings of Major Subsidiaries and Affiliates Progress of FY2023 H1 results against the Revised Forecast One-off Gains/Losses Subsidiary/ Company Name (Country) Business Description Affiliate Equity Holding (%) Equity in Earnings FY2022 FY2023 1Q 2Q 3Q 4Q Total H1 FY2023 H1 Change One-off Gains Total One-off Losses Affiliate SPDC Ltd. (Japan) Investment and petroleum and petrochemicals-related businesses 33.34 2.0 0.2 (1.8) Total Subsidiary Subsidiary Mitsubishi Shoji Chemical Corporation (Japan) Mitsubishi Corporation Plastics Ltd. (Japan) Marketing of solvents, coating resins, silicones, fumed silica 100.00 1.6 1.4 (0.2) Marketing of synthetic raw materials and plastics 100.00 1.7 1.5 (0.2) FY2022 Total of One-off Gains Affiliate (listed) Meiwa Corporation (Japan) Domestic sales and import-export business of chemical and other products 33.05 0.4 0.3 (0.1) Total of One-off Losses 1Q 2Q 3Q 4Q Total 4.5 0.4 0.2 0.1 5.2 (3.2) (3.2) Overseas chemical trading business 2.0 1.5. (0.5) Basic chemicals related business companies 6.6 0.5 (6.1) Copyright © 2023 Mitsubishi Corporation 26#28Mitsubishi Corporation Summary of Net Income Mineral Resources Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■10■2Q 3Q 4Q H2 forecast (revised) 500.0 FY2022 H1 FY2023 H1 439.3 Change Remarks 400.0 54.2 63.6 298.0 One-off 6.8 (6.8) 300.0 66.7 Net Income excl. One-off 314.7 134.1 (180.6) Decreased earnings due to lower Australian metallurgical coal prices. 200.0 163.9 254.8 Total Forecast Revised Forecast for Change for FY2023 FY2023 321.5 134.1 (187.4) 100.0 37.0 97.1 0.0 Remarks Progress Remarks FY2022 FY2023 FY2022 End FY2023 H1 Change 298.0 298.0 45% Total Assets 4,098.1 4,044.6 (53.5) Progress of FY2023 H1 results against the Revised Forecast Earnings of Major Subsidiaries and Affiliates Subsidiary/ Affiliate Company Name (Country) Business Description One-off Gains/Losses Equity Holding (%) Equity in Earnings FY2022 FY2023 H1 H1 FY2023 1Q 2Q 3Q 4Q Total Change One-off Gains Total One-off Losses Affiliate Subsidiary IRON ORE COMPANY OF CANADA (Canada) M.C. INVERSIONES LIMITADA (Chile). [Iron Ore Business] Iron ore mining, processing, and sales 26.18 14.0 6.4 (7.6) Total Subsidiary MITSUBISHI DEVELOPMENT PTY LTD (Australia) Mineral resources management company in Latin America (the indirect investment ratio in Compania Minera del Pacifico (Chile): 25%, etc.) Investment, production, and sales of metallurgical coal and other mineral resources 100.00 14.5 5.6 (8.9) 100.00 249.4 84.3 (165.1) FY2022 Subsidiary Mitsubishi Corporation RtM Japan Ltd. (Japan) Mineral resources and metals trading 100.00 6.2 3.0 (3.2) Total of One-off Gains Total of One-off Losses 1Q 2Q 6.8 S| | 3Q 4Q Total 2.9 9.7 (5.0) (38.1) (43.1) Copper Business Subsidiary JECO CORPORATION (Japan) Investment company for Escondida copper mine in Chile 70.00 8.7 6.6 (2.1) Affiliate JECO 2 LTD (U.K.) Investment company for Escondida copper mine in Chile* 50.00 2.1 1.6. (0.5) Subsidiary Subsidiary MC COPPER HOLDINGS B.V. (Netherlands) M.C. INVERSIONES LIMITADA (Chile). [Copper Business] Investment company for Los Pelambres copper mine in Chile (MC's shareholding in Los Pelambres through indirect investment: 5%) Mineral resources management company in Latin America (the indirect investment ratio in Anglo American Sur (Chile): 20.4%, etc.) 100.00 1.0 0.0 (1.0) 100.00 2.9 (4.7) (7.6) Subsidiary MCQ COPPER LTD. (Peru) Investment company for Quellaveco copper mine in Peru (MC's shareholding in Quellaveco through indirect investment: 10%) 100.00 (0.7) 22.5 23.2 Mineral Resources Group also recognizes dividend income from Compañía Minera Antamina (FY2022: 6.4 billion yen, FY2023: 7.3 billion yen). * Mitsubishi Corporation's net interest in Escondida copper mine is 8.25%, through both JECO CORPORATION and JECO 2 LTD. Copyright © 2023 Mitsubishi Corporation 27#29Mitsubishi Corporation Summary of Net Income Industrial Infrastructure Group FY2022 H1 FY2023 H1 Change One-off November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■1Q 2Q 3Q 4Q H2 forecast (revised) 35.0 31.9 33.0 30.0 Remarks 6.4 25.0 16.3 8.1 20.0 15.0 8.0 7.9 10.0 5.0 9.4 8.8 0.0 Remarks FY2022 FY2023 FY2022 End FY2023 H1 Change 51% Total Assets 1,329.2 1,395.8 66.6 Progress of FY2023 H1 results against the Revised Forecast One-off Gains/Losses Net Income excl. One-off Total Forecast for FY2023 Revised Forecast for FY2023 Change 17.4 16.7 (0.7) 17.4 16.7 (0.7) Remarks Progress 27.0 33.0 Increased earnings in the 6.0 Industrial machinery business. Company Name (Country) Earnings of Major Subsidiaries and Affiliates Subsidiary/ Affiliate Business Description Equity Holding (%) Equity in Earnings FY2022 FY2023 1Q 2Q 3Q 4Q Total H1 FY2023 H1 Change One-off Gains Total One-off Losses Subsidiary MSK FARM MACHINERY CORPORATION (Japan) Subsidiary Nikken Corporation (Japan) Sales of agricultural machinery and construction & maintenance service of dairy farming facilities Rental and sales of construction machinery and other equipment 100.00 0.7 0.2 (0.5) Total 100.00 1.7 2.2 0.5 Subsidiary (listed) Chiyoda Corporation (Japan) Integrated engineering business 33.45 1.2 2.3 1.1 FY2022 1Q 2Q Total of One-off Gains Subsidiary Mitsubishi Corporation Technos (Japan) Sales of machine tools and industrial machinery 100.00 0.0 0.3 0.3 Total of One-off Losses Ş| | 。| | Ş| | 3Q 4Q 1.3 (1.2) Total 1.3 (1.2) Subsidiary Mitsubishi Corporation Machinery, Inc. (Japan) Export, import and domestic trading of plants, 100.00 1.7 1.7 0.0 infrastructure, machine parts Equity in earnings related to LNG business. - 2.2 2.2 0.0 Other energy infrastructure related business companies Commercial vessels related business companies Gas carriers related business companies Copyright © 2023 Mitsubishi Corporation - 2.9 4.2 1.3. - 4.2 1.7 (2.5) 1.9. 1.9 0.0 28#30Mitsubishi Corporation Summary of Net Income Automotive & Mobility Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■10■2Q 3Q 4Q H2 forecast (revised) 131.6 140.0 128.0 FY2022 H1 FY2023 Change Remarks 8.9 120.0 H1 100.0 33.3 62.4 One-off Net Income 0.4 (0.8) (1.2) 80.0 89.0 66.4 (22.6) excl. One-off Total Forecast Revised for FY2023 Decreased earnings in the Russia-related business and the ASEAN automotive business. 40.9 60.0 30.9 40.0 89.4 65.6 (23.8) 20.0 48.5 34.7 0.0 Forecast for Change Remarks 110.0 FY2023 128.0 Progress 18.0 Increased earnings at Mitsubishi Motors. Remarks FY2022 FY2023 FY2022 End FY2023 H1 Change 51% Total Assets 2,021.9 1,895.6 (126.3) (FY2022 figures reflect reclassification due to reorganization on Apr. 1) Earnings of Major Subsidiaries and Affiliates Progress of FY2023 H1 results against the Revised Forecast One-off Gains/Losses Subsidiary/ Affiliate Company Name (Country) Affiliate (listed) Toyo Tire Corporation (Japan) Business Description Equity Holding (%) Equity in Earnings FY2023 1Q 2Q 3Q 4Q Total One-off Gains FY2022 FY2023 Change Gains related to sale of overseas business (2.6) 3.9 1.3 H1 H1 Total (2.6) 3.9 1.3 Tire business and automotive parts business 20.02 5.3 5.1 (0.2) One-off Losses Losses in Chinese business Affiliate (listed) MITSUBISHI MOTORS CORPORATION Sales and manufacture of automobiles and its parts. 20.00 16.2 13.4 (2.8) Automobile related business companies in Thailand & Indonesia 57.4 50.7 (6.7) FY2022 Affiliate (Partial breakdown of Automobile related business in Thailand & Indonesia) PT MITSUBISHI MOTORS KRAMA YUDHA SALES INDONESIA (Indonesia) Total of One-off Gains Total of One-off Losses (2.1) (2.1) Total - (2.1) (2.1) 1Q 2Q 30 4Q Total 1.8 6.0 1.9 9.7 (1.4) (9.9) (21.1) (32.4) Imports and sales of automobiles (MMC). 40.00 3.4 1.8. (1.6) Subsidiary TRI PETCH ISUZU SALES CO., LTD. (Thailand) Imports and sales of automobiles 88.73 32.7 24.1 (8.6) Copyright © 2023 Mitsubishi Corporation 29#31Mitsubishi Corporation Summary of Net Income Food Industry Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) ■1Q 2Q 3Q 4QH2 forecast (revised) 90.0 FY2022 H1 FY2023 Change Remarks 63.4 64.0 H1 70.0 0.4 26.4 14.6 One-off 2.6 36.9 34.3 50.0 Net Income excl. One-off 39.5 26.7 (12.8) Gains on sale of an affiliated company. 30.0 19.7 49.0 Total Forecast for FY2023 Revised Forecast for FY2023 Change 42.1 63.6 21.5 10.0 22.4 (10.0) (5.1) Progress 72.0 64.0 (8.0) Decreased earnings in the Overseas food business. Remarks Remarks FY2022 FY2023 Gains on sale of an FY2022 End 99% affiliated company in the Total Assets 2,103.0 FY2023 H1 2,199.1 Change 96.1 first half. Progress of FY2023 H1 results against the Revised Forecast Earnings of Major Subsidiaries and Affiliates One-off Gains/Losses Subsidiary/ Affiliate Company Name (Country) Business Description Equity Holding (%) Equity in Earnings FY2022 FY2023 H1 H1 FY2023 1Q 2Q 3Q 4Q Total Change One-off Gains Gains on sale of an affiliated company 36.9 Total 36.9 36.9 36.9 Subsidiary Agrex do Brasil LTDA. (Brazil) Subsidiary Cermaq Group AS (Norway) Subsidiary Subsidiary Origination and export of grains, sales of agricultural inputs, and grain production 100.00 0.3 2.3 2.0 One-off Losses Total Farming, processing and sales of salmon 100.00 13.6 1.0 (12.6) Indiana Packers Corporation (U.S.A.) MITSUBISHI INTERNATIONAL FOOD INGREDIENTS, INC. (U.S.A.) Affiliate (listed) Olam Group Limited (Singapore) Affiliate (listed) Itoham Yonekyu Holdings Inc. (Japan). Subsidiary Japan Farm Holdings, Ltd. (Japan) Subsidiary Toyo Reizo Co., Ltd. (Japan). Subsidiary (listed) Nitto Fuji Flour Milling Co., Ltd. (Japan) Affiliate (listed) KFC Holdings Japan Ltd. (Japan) Processing and sales of pork 80.00 0.9 0.3 (0.6) Distributing food ingredients, food additives and fine- chemicals 100.00 1.8 1.4. (0.4) FY2022 Total of One-off Gains N 1Q 2Q 3Q 1.2 1.4 Farming, procuring, processing and sales of agriproducts 14.64 5.1 0.2 (4.9) Total of One-off Losses 4Q - 2.4 Total 5.0 (12.3) (12.3) Manufacturing and sales of meats and processed foods Poultry/ Swine breeding, chicken processing 40.65 4.4 3.4 (1.0) 92.66 0.7 1.6 0.9 Processing and sales of marine products 95.08 3.1 (0.1) (3.2) Flour miller 64.85 1.1 1.1 0.0 Fast-food restaurant chain (fried chicken) 35.21 0.3 0.5 0.2 Subsidiary Nosan Corporation (Japan) Manufacturing and marketing of livestock feed 100.00 (0.2) 2.3 2.5 Subsidiary Foodlink Corporation (Japan) Sales of meat and meat products 99.42 0.7 1.7 1.0 Subsidiary Mitsubishi Corporation Life Sciences Limited (Japan) Production and sales of food ingredients 100.00 3.5 3.0 (0.5) Copyright © 2023 Mitsubishi Corporation 30#32Mitsubishi Corporation Consumer Industry Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) Summary of Net Income 2Q 3Q 4Q H2 forecast (revised) 50.0 FY2022 H1 FY2023 H1 38.0 Change Remarks 40.0 One-off (2.9) Net Income excl. One-off 17.5 25.8 8.3 29.0 Total Forecast Revised Forecast for Change for FY2023 FY2023 38.0 14.6 25.8 2.9 Increased earnings in the Convenience store business and impairment losses on investment in overseas business in the 11.2 previous year. 30.0 12.2 18.9 20.0 6.6 12.6 10.0 7.7 13.2 6.9 0.0 (2.3) (10.0) Remarks Progress Remarks FY2022 FY2023 Increased earnings in the 9.0 Convenience store business. Strong performance in the FY2022 End FY2023 H1 Change (FY2022 figures reflect reclassification due to reorganization on Apr. 1) Earnings of Major Subsidiaries and Affiliates 68% Convenience store business during the first half. Progress of FY2023 H1 results against the Revised Forecast Total Assets 3,882.1 3,988.7 106.6 One-off Gains/Losses Subsidiary/ Company Name (Country) Business Description Affiliate Subsidiary MC Healthcare Holdings (Japan) Affiliate (listed) Nippon Care Supply Co., Ltd. (Japan) Affiliate (listed) Life Corporation (Japan) Subsidiary (listed) Lawson, Inc. (Japan) Subsidiary Hospital management solutions, medication & medical equipment distribution Nursing care equipment rental Supermarket chain stores Franchise chain of LAWSON convenience stores Mitsubishi Corporation Packaging Ltd. (Japan) Sales and marketing of packaging products/systems & Equity Holding (%) H1 Equity in Earnings FY2022 FY2023 H1 FY2023 1Q 2Q 3Q 4Q Total Change One-off Gains Total One-off Losses 80.00 0.9 0.9 0.0 Total 40.26 0.2 0.2 0.0 23.05 1.5 2.0 0.5 FY2022 Ş| 1Q 2Q Total of One-off Gains 50.12 6.3 13.4 7.1 Total of One-off Losses (2.9) 。| | 3Q 4Q Total (1.4) (1.4) (5.7) 100.00 1.7 1.9. 0.2 paper products Subsidiary Mitsubishi Corporation Fashion Co., Ltd. (Japan) OEM business for apparel goods 100.00 1.7 1.4 (0.3) Subsidiary Mitsubishi Corporation LT, Inc. (Japan) Warehousing and general logistics services 100.00 1.9 1.2 (0.7) Subsidiary (listed) Mitsubishi Shokuhin Co., Ltd. (Japan) Wholesale and logistics of processed foods, frozen and chilled foods etc. 50.11 3.8 5.1 1.3. Copyright © 2023 Mitsubishi Corporation 31#33Mitsubishi Corporation Summary of Net Income Power Solution Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) 1Q 2Q 3Q 4Q H2 forecast (revised) 113.0 125.0 FY2022 H1 FY2023 Change Remarks 100.0 H1 61.9 75.0 One-off (5.1) (5.3) (0.2) Increased earnings in the European 107.8 50.0 63.5 Net Income excl. One-off (4.0) 10.5 Total (9.1) 5.2 14.3 14.5 integrated energy business despite decreased earnings in the Overseas power business. 25.0 7.5 0.0 Forecast for FY2023 Revised Forecast for FY2023 14.4 (23.5) 84 (3.2) Change Remarks Progress Remarks (25.0) FY2022 FY2023 109.0 113.0 4.0 Increased earnings in the European integrated energy business despite decreased earnings in the Overseas power business. Expected gains on sale of assets in the 5% Overseas power generating business during the second half. FY2022 End FY2023 H1 Change Total Assets 2,716.2 2,807.0 90.8 Progress of FY2023 H1 results against the Revised Forecast Earnings of Major Subsidiaries and Affiliates One-off Gains/Losses Subsidiary/ Affiliate Company Name (Country) Subsidiary N.V. Eneco (Netherlands)* Electric Power Business Subsidiary Diamond Generating Asia, Limited (Hong Kong) Electric Power Business Subsidiary DIAMOND GENERATING CORPORATION (U.S.A.) Electric Power Business Subsidiary DIAMOND TRANSMISSION CORPORATION LIMITED (U.K.) Power Transmission Business Subsidiary Mitsubishi Corporation Energy Solutions Ltd. (Japan) Electric Power Business Business Description Equity Holding (%) Equity in Earnings FY2022 FY2023 H1 H1 Change FY2023 One-off Gains 1Q 2Q 3Q 4Q Total Total One-off Losses 80.00 (10.8) 14.6 25.4 Impairment losses on Asian power generating assets (2.9) (0.1) Provisions recorded due to cost increase in Overseas water business (2.2) (0.1) 100.00 0.8 1.9 1.1 Total (5.1) (0.2) (3.0) (2.3) (5.3) 100.00 5.5 (5.5) (11.0) FY2022 100.00 1.1 4.2 3.1 Total of One-off Gains Total of One-off Losses 1Q 2Q 3Q 4Q Total 5.7 25.3 31.0 (1.7) (9.1) (20.3) (31.1) 100.00 (6.6) (1.1) 5.5 *The figures above include consolidation adjustments (FY2022: -2.6 billion yen, FY2023: -3.2 billion yen) to equity in earnings, such as DD&A on assets measured at fair value at the time of acquisition of Eneco Group. Copyright © 2023 Mitsubishi Corporation 32#34Mitsubishi Corporation Urban Development Group November 2, 2023 Mitsubishi Corporation (Billions of Yen) Summary of Net Income 150.0 ■1Q 2Q 3Q 4Q H2 forecast (revised) 123.3 FY2022 H1 FY2023 H1 125.0 Change Remarks 10.0 7.01.7 100.0 One-off 84.1 Net Income excl. One-off 30.5 12.1 Total Forecast Revised Forecast for Change for FY2023 FY2023 114.6 12.1 (84.1) Gains on sale of a real estate management company in the previous year and decreased (18.4) earnings in the North American real estate (102.5) business. 75.0 45.0 50.0 104.6 32.9 25.0 16.2 0.0 (4.1) Remarks Progress Remarks (25.0) FY2022 FY2023 45.0 45.0 Expected gains on sale of assets in the 27% Domestic real estate business during the second half. FY2022 End FY2023 H1 Change Total Assets 1,164.6 1,186.1 21.5 Earnings of Major Subsidiaries and Affiliates Progress of FY2023 H1 results against the Revised Forecast One-off Gains/Losses Subsidiary/ Affiliate Subsidiary Subsidiary Company Name (Country) Diamond Realty Investments, Inc. (U.S.A.) Diamond Realty Management Inc. (Japan) Affiliate (listed) Mitsubishi HC Capital Inc. (Japan) Affiliate Subsidiary Mitsubishi Auto Leasing Corporation (Japan) Mitsubishi Corporation Urban Development, Inc. (Japan) ASEAN urban development related business companies in total Fund related business companies in total Real estate investment Real estate asset management and investment advisory Business Description Equity Holding (%) Equity in Earnings FY2022 FY2023 H1 H1 FY2023 1Q 2Q 3Q 4Q Total Change One-off Gains Total One-off Losses 100.00 10.2 (0.7) (10.9) Total 100.00 1.0 2.2 1.2 Leasing, installment sales and other financing Auto leases, installment sales and other financial services 18.00 11.1 9.5 (1.6) FY2022 1Q 2Q Total of One-off Gains 84.1 50.00 1.7 1.6 (0.1) Total of One-off Losses 。| | 3Q 4Q Total 84.1 (2.9) (3.7) (6.6) Development & operating of commercial properties 100.00 5.6 1.0 (4.6) 3.8 (1.5) (5.3) 1.7 (3.1) (4.8) Copyright © 2023 Mitsubishi Corporation 33#35Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation 4 Supplementary Information by Segment (Operational Data) Copyright © 2023 Mitsubishi Corporation 34#36Mitsubishi Corporation Global Energy Resources Business Natural Gas Group November 2, 2023 Mitsubishi Corporation Iraq Production (Crude oil) Mitsubishi Corporation's Reserves of Oil and Gas *1 (As of Dec 31, 2022) 0.208 BGC Qalhat LNG Oman LNG 1.613 billion barrels 1.405 Canada Shale Gas Development Project O Sakhalin 2 Project LNG Canada Cameron LNG Browse LNG North West Shelf LNG Wheatstone LNG Brunei LNG Malaysia LNG Donggi-Senoro LNG Tangguh LNG Growth Outlook of LNG Equity Capacity *2 Unit: MTPA (Million Tons Per Annum) 14.29 MTPA+α Under Construction + New Project + Expansion 12.19 MTPA 2.10 MTPA LNG Canada *4 *3 Natural Gas Crude Oil Condensate Copyright 2023 Mitsubishi Corporation As of Sep 2023 After the launch of the projects under construction *1 Oil equivalent, including non-consolidated subsidiaries and affiliates. A part of reserves are based on MC's in-house methodology. *2 Based on each project's production capacities. *3 MC's offtake volume based on the tolling agreement with Cameron LNG. *4 MC's offtake volume for LNG Canada. 35#37Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Annual Production Capacity (Million Ton) Total MC's share Involvement in LNG Projects Natural Gas Group Existing Projects in Production Project Beginning of Production *1 Business Segment: A Investment in exploration & development (upstream), B Investment in liquefaction plant, C Marketing and/or import agent, D Shipping Buyer Seller Shareholding MC's Participa- tion Business Contribu- tion *1 Brunei Brunei 1972 7.2 1.8 25% Mainly Asia, with a focus on the Far East. Brunei Gov. (50%), Shell (25%), MC (25%) 1969 ABCD LNG Malaysia I 1983 8.4 0.42 5% Tokyo Gas, Saibu Gas, etc. (Satu) PETRONAS (90%), Sarawak Gov. (5%), MC (5%) 1978 AB C D Malaysia II (Dua) 1995 9.6 0.96 Tohoku Elec., Tokyo Gas, Shizuoka Gas, 10% Sendai City Gas Authority, ENEOS Holdings, etc. Malaysia LNG PETRONAS (80%), Sarawak Gov. (10%), MC (10%) 1992 ABIC D North West Shelf 1989 16.9 1.41 JERA, Tokyo Gas, Shizuoka Gas, Toho Gas, 8.33% Kansai Elec., Osaka Gas, Woodside (33.3%) NWS JV Shell, bp, Chevron, MIMI [MC/Mitsui & Co. 1985 ABCD Guangdong Dapeng LNG, etc. =50:50], 16.7% respectively Oman Gov. (51%), Shell (30%), Oman 2000 7.1 0.20 2.77% Osaka Gas, Korea Gas, Itochu Corp., bp, etc. Oman LNG 1993 ABC D TotalEnergies (5.54%), MC (2.77%), etc. Qalhat 2005 3.3 0.13 4% Osaka Gas, Mitsui & Co., etc. Qalhat LNG Oman Gov. (46.8%), Oman LNG (36.8%), Naturgy (7.4%), Osaka Gas (3%), MC (3%), etc. 2006 AB C D Oil: 2008 Russia (year-round 9.6 0.96 Sakhalin 2 production), LNG: 2009 JERA, Tokyo Gas, Kyushu Elec., Toho Gas, 10% Hiroshima Gas, Tohoku Elec., Saibu Gas, Osaka Gas, Korea Gas, etc. Gazprom (50%), 1994* Sakhalin Energy LLC Sakhalin Energy LLC (27.5%), Mitsui & Co. (12.5%), MC (10%) (*PSA execution) ABCD 11.4 Indonesia Tangguh 2009 1.13 incl. incl. Expansion Expansion 9.92% Tohoku Elec., Kansai Elec., SK E&S, POSCO, Fujian LNG, Sempra, PLN, etc. Tangguh JV Indonesia Donggi 2015 2.0 0.9 - Senoro 44.9% JERA, Korea Gas, Kyushu Elec., etc. Wheatstone 2017 8.9 0.28 3.17% Chevron, KUFPEC, Woodside, Kyushu Elec., PEW, etc. PT.Donggi- Senoro LNG Equity Lifting Model bp (40.2%), MI Berau [MC/INPEX=56:44] (16.3%), KG Berau [MIBJ (MC/INPEX=56:44) 16.5%, Mitsui & Co. 20.1%, JX Nippon Oil &Gas Exploration 14.2%, JOGMEC 49.2%] (8.6%), etc. Sulawesi LNG Development Limited [MC/Korea Gas 75:25] (59.9%), 2001 ABCD 2007 ABCD PT Pertamina Hulu Energi (29%), PT Medco LNG Indonesia (11.1%) Cameron 2019 12.0 4.0 *3 33.3% *2 Tolling Chevron (64.136%), KUFPEC (13.4%), Woodside (13%), Kyushu Elec. (1.464%), PEW (8%; of which MC holds 39.7%) 2012 ABCD Sempra (50.2%), Japan LNG Investment MC, Mitsui & Co., Total Energies (Toller) *3 Model *2 [MC/NYK 70:30] (16.6%), Mitsui & Co. (16.6%), Total Energies (16.6%) 2012 ABCD Total 96.4 12.19 *2 LNG is procured and sold by each company according to either the ratio of interest (Equity Lifting Model) / or equity in the liquefaction contract (Tolling Model) respectively. *3 MC's offtake volume based on the tolling agreement with Cameron LNG. Projects under Construction LNG Canada Mid 2020's 14.0 2.10 *4 15% Shell, PETRONAS, PetroChina, MC, *4 Korea Gas Equity Lifting Model *2 Shell (40%), PETRONAS (25%), PetroChina (15%), Diamond LNG Canada Partnership (MC 15%), Korea Gas (5%) 2010 A B D Total 14.0 2.10 *4 MC's offtake volume. Copyright 2023 Mitsubishi Corporation 36#38Mitsubishi Corporation Metallurgical Coal Copper Iron Ore Global Mineral Resources Business Mineral Resources Group Turnagain (Canada) November 2, 2023 Mitsubishi Corporation Bauxite Aluminum Nickel Operating Asset Exploration/ F/S / Under Development Aurukun (Australia) BMA (Australia) Boyne (Australia) IOC (Iron Ore Company of Canada) (Canada) Antamina (Peru) Quellaveco (Peru) Marimaca (Chile) Escondida (Chile) Product Project Country Metallurgical Coal BMA Australia Annual Production Capacity *1 Metallurgical Coal, etc., 57 mil. mt *2 Los Pelambres (Chile) Anglo American Sur (Los Bronces, etc.) (Chile) Main Partners BHP CMP (Compañía Minera del Pacífico) (Chile) CAP (Chile) MC's Share 50.00% Escondida Chile Los Pelambres Chile Anglo American Sur Chile Copper 1,200 kt Copper 410 kt Copper 311 kt *3 BHP, Rio Tinto 8.25% Luksic Group (AMSA) 5.00% Anglo American, Codelco 20.4% Copper Antamina Peru Copper 418 kt, Zinc 337 kt *2 BHP, Glencore, Teck 10.00% Quellaveco Peru Production started from 2022 (Planned Annual Production: 300 kt of copper over its first 10 years of operation) Anglo American 40.00% Copyright *1 Production capacity shows 100% volume of the project. *2 Annual production capacity is not disclosed. FY2022 annual production volume is shown above as a reference. *3 Annual production capacity is not disclosed. CY2022 annual production volume is shown above as a reference. 2023 Mitsubishi Corporation 37#39Mitsubishi Corporation (mil. mt) 40.0 Metallurgical Coal Business Mineral Resources Group BMA Annual Production and Sales Volume (50% Basis) November 2, 2023 Mitsubishi Corporation BMA production in Jul-Sep 2023 decreased by 16% to 5.6 mil. mt on a year on year basis. • The decrease was mainly due to planned maintenance, and conditions of current mining area. • BMA also opened the period with low inventory levels due to an inventory drawdown in the prior year. Apr-Jun Jul-Sep Oct-Dec Jan-Mar 30.2 29.5 28.7 28.1 30.0 7.9 7.6 6.9 6.1 20.0 6.3 6.0 7.0 7.0 6.7 6.7 6.7 6.4 10.0 9.3 9.2 8.2 8.6 14.1 14.2 5.6 5.3 8.5 8.9 US$/A$ Period 0.0 Production Sales Production Sales Production Sales Average Rate FY2021 1-4Q 0.7392 FY2022 FY2023 1-4Q 0.6849 1Q 0.6681 1-2Q 0.6614 FY2021 FY2022 FY2023 USD/AUD Average Exchange Rate (*) (NOTE: Due to rounding, the quarterly figures do not necessarily add up to the total annual figures.) Source: Mitsubishi UFJ Research and Consulting *The above exchange rates differ from the effective rates applied to MDP's transactions. (US$/t) CFR China 700 600 500 400 300 200 100 0 Apr-21 Oct-21 Price Trend of Hard Coking Coal FOB US FOB Australia Apr-22 Oct-22 Apr-23 Oct-23 Copyright © 2023 Mitsubishi Corporation • Metallurgical coal index prices continued to rise after bottoming out around US$220/t at the end of May, surpassing US$360/t in the first half of October. They have since fallen and are currently around US$350/t. • Demand for metallurgical coal has remained strong in India, backed by a firm domestic economy, and in Southeast Asia, reflecting the start of operations at new blast furnaces, but demand in other regions has been weak due to worldwide economic slowdown. • The recent price increases are thought to be due mainly to production issues and supply restrictions affecting Australian suppliers. 38#40(US$/t) 11,000 (kt) Mitsubishi Corporation Copper Business Mineral Resources Group ■Apr-Jun Jul-Sep Equity Share Production Volume Oct-Dec November 2, 2023 Mitsubishi Corporation (Due to rounding, the quarterly figures do not necessarily add up to the total annual figures.) Jan-Mar CY2020 Total 227 95 24 23 38 24 12 18 11 85 24 Escondida Antamina Los Pelambres CY2021 Total 218 76 22 18 19 16 AAS N Escondida NN8 82 85 75 21 20 45 19 20 19 12 20 11 11 2 e 16 19 4 18 Los Pelambres AAS 665 21 24 19 Escondida LME Copper Price (Monthly Average) 10,000 9,000 8,000 7,000 6,000 5,000 4,000 FY2019 FY2020 FY2021 FY2022 FY2023 Copyright 2023 Mitsubishi Corporation CY2022 Total 248 CY2023 Total 237 * Quellaveco commissioned in July 2022 90 68 64 35 51121 4 LLLL 45 20 41 23 14 14 24 15 12 4 15 Los Pelambres AAS Quellaveco co w 33 21 Escondida W 39 30 31 11 10 10 15 11 4 24 9 13 Antamina Los Pelambres ᏚᏙᏙ Quellaveco Anglo American Sur (AAS) Note Los Bronces production in Jul-Sep 2023 decreased by 20% on a year on year basis driven by lower grades of ore processed and lower throughput due to a combination of higher ore hardness and an electrical substation fire. El Soldado production in Jul-Sep 2023 increased by 5% on a year on year basis due to higher grades of ore processed. Quellaveco Mine Copper production in Jul-Sep 2023 was 88 kt. ③ Escondida Mine Copper production in Jul-Sep 2023 increased by 8.2% on a year on year basis to 273 kt, mainly due to higher grade ore fed to concentrator. (Production is stated on a 100% basis for each project) 39#41Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Global Automobile Business (MMC MFTBC-Related) Automotive & Mobility Group MCBR Automobile Finance MMCR Distribution Russia 1335.0K Units *3 2MMC OK Units (0%) GMMC/ GMMSC (Changsha) Production/Distribution HLL SAME (Shenyang) (Shanghai) Automobile Finance Engine production China *1A *1B 112,860.8K Units MMC 5.0K Units (0.04%) (As of September 30, 2023) Country/Region 1 Overall Demand 2 Vehicle sales of MC's partner car maker (share) From Apr. 2023 to Sep. 2023 Production/ Distribution Distribution Automobile Production finance Retail/ After-sales service Others MMCU Distribution Ukraine 134.4K Units MMC 0.8K Units (2.3%) MMM Distribution/ Contract assembly Malaysia 1378.1K Units MMC 10.3K Units (2.7%) KTB Distribution/ Contract production (MFTBC) MMKSI Distribution (MMC) MMV Production/ Distribution Vietnam 131.3K Units MMC 14.6K Units (11.1%) Trend of overall demand in Indonesia Overall Demand (Mil Units) MMC Share 1.20 1.04 1.06 1.11 1.12 1.05 30.0% 1.00 0.92 1.00 25.0% 0.80 20.0% 12.5% 0.60 9.4% 0.54 12.4% 10.7% 10.1% 15.0% 7.3% 8.6% 0.40 6.1% 10.0% 0.20 5.0% 0.00 0.0% FY2015 2016 2017 2018 2019 2020 2021 2022 Copyright 2023 Mitsubishi Corporation KRM Production (MFTBC) MMKI Production/Export (MMC) MKM PMJ Engine/Press Dealer components production DSF Automobile finance BSI IT system Indonesia 1474.8K Units MMC 38.9K Units (8.2%) *2A MFTBC 15.1K Units (3.2%) *2B *1A Factory shipments *1B Excludes imported cars from FY2019 *2A Passenger Car + Light Commercial Vehicle Segment Share: 8.9% *2B Commercial Vehicle Segment Share: 39.4% *3 Excludes German brands from Apr. to Sep. '23. (Share is calculated based on the same demand) 40#42Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Global Automobile Business (Isuzu-Related) Automotive & Mobility Group LCV: Light Commercial Vehicle IMI Production/ Distribution/Export India LCV 1*2 28.9K Units (Incl. India 1.2K) CV: Commercial Vehicle IMEX Production/ Distribution IPC Production/ Distribution Philippines LCV 199.5K Units 23.0K Units (3%) CV 122.4K Units 25.8K Units (26%) Mexico CV 14.3K Units*1 22.3k Units (As of September 30, 2023) Isuzu vehicle sales ①Overall Demand 2 CV and LCV sales of MC's partner car maker (share) From Apr. 2023 to Sep. 2023 Distribution Export/Sales Production/ Distribution Production Automobile Retail/ (1.4K Units*1, 31%) finance After-sales service Others IBX Germany, Austria, Poland, Czech Republic, Slovakia, Benelux Distribution 1*2 Belgium LCV 21.3K Units *3 TIL IMIT Export/Sales TIS Distribution Automobile finance IMCT Production IAS Dealer TPIS Automobile insurance AUTEC After-sales service, Bus maintenance, Chevrolet dealer TPIT Software development, maintenance & management administration Thailand (Domestic) LCV 1154K Units 265K Units (42%) CV 116K Units 28K Units (50%) TISCO After-sales service PTB Driver dispatch IMSB Distribution Malaysia LCV 1125.7K Units 25.0K Units (4%) CV 18.3K Units 23.6K Units (43%) IUA Distribution Australia LCV 173.7K Units 222.0K Units (13%) 1*2 Thailand (export) ②Export LCVs CBU 70.0K Units KD 25.6K Units CBU: Complete Build Up KD Knock Down Parts Trend of overall demand in Thailand 1.20 30.0% 1.10 Overall Demand (Mil Units) 1.07 Isuzu Share 24.3% 24.1% 24.4% 25.0% 18.5% 18.6% 18.2% 16.7% 1.00 0.94 20.0% 17.6% 0.90 0.90 15.0% 0.83 0.78 0.80 0.78 0.79 0.80 10.0% 0.70 5.0% 0.60 0.0% FY2015 2016 2017 2018 2019 2020 2021 2022 Copyright © 2023 Mitsubishi Corporation *1 Class 4-7 (GVW6.4t~15t) *2 Omitted, since doing export business *3 Including sales of ISD, reflecting the acquisition of ISD at the end of Jan. '23 41#43Mitsubishi Corporation Salmon Farming Business Food Industry Group November 2, 2023 Mitsubishi Corporation Europe 1,224,900 Consumption (Market Size) Year: CY2022 Scale: MT (GWE basis*) Fish Species: Atlantic Salmon, Coho, Trout, Chinook salmon Source: Based on Kontali Salmon World 2023 Cermaq Sales Volume (by region) Year: FY2022 Scale: MT (GWE basis*) Distribution *GWE: Gutted Weight Equivalent Cermaq Norway 82,300 Russia 78,300 European Market / Fish Pool Index Other Asia 364,900 Japan 248,000 Cermaq Canada 10,600 North America 711,000 South America 197,100 U.S. Market / Urner Barry Index Cermaq Chile 92,700 (USD/lbs) (NOK/kg) 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 8.0 140 7.5 130 7.0 120 6.5 110 6.0 100 5.5 90 5.0 80 4.5 70 4.0 60 3.5 50 3.0 40 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 42 Copyright 2023 Mitsubishi Corporation#44Mitsubishi Corporation Diamond Transmission Corporation (DTC UK) Development and Operation of Transmission Line Business in Europe Electric Power Business Power Solution Group Eneco (Netherlands) An integrated energy company mainly active in the November 2, 2023 Mitsubishi Corporation Americas Netherlands, Belgium and Germany Japan Europe Mitsubishi Corporation Energy Solutions (MCES) Development and Operation of Power Generation Business in Japan 1,090 MW Incl.350MW 2,310 MW 784 km Incl. 1,560 MW Asia, Oceania and Middle East Total Generation Capacity (Net Equity Base) (MW) Capacity of Renewable Energy included above (MW) Transmission Length (km) 1,480 MW Incl. 210 MW Diamond Generating Corporation (DGC USA) Development and Operation of Electric Power Business in North America 3,070 MW Diamond Generating Asia (DGA Hong Kong) Development and Operation of Power Generation Business in Asia, Oceania and Middle East Diamond Generating Corporation Mexico (Mexico) Development and Operation of Power Generation Business in Mexico Incl. 770 MW Nexamp (USA) Distributed Solar Generation Business in North America Generation Capacity (Net Equity Base) (as of September 30, 2023) Generation Assets (Net Equity Base) (as of September 30, 2023) (MW) 1,340 MW 4,590 4,880 8,080 8,230 7,880 7,750 7,950 6,220 7,950 MW Incl. 2,880 MW 9,290 MW Incl. 3,930 MW FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Copyright 2023 Mitsubishi Corporation Existing Assets Under Construcrtion Total 43#45Mitsubishi Corporation November 2, 2023 Mitsubishi Corporation Urban Development & Real Estate Business Urban Development Group Development Multifamily, Student Housing, Industrial Properties, Europe Asset Management Real Estate Debt Fund Vietnam Development Large-Scale Urban Development, Condominiums Indonesia Development Large-Scale Urban Development, Condominiums, Landed Homes North America Medical Offices, Senior Living Asset Management Real Estate Equity/Debt Fund Japan Development Industrial Properties, Retail Properties, Hotels, Condominiums, Data Centers, Large-Scale Urban Development Asset Management Private Real Estate Fund, Private REITS Operation Data Centers, Retail Properties, Airports Photo by JAPC MCUD LOGISTICS Urban Development & Real Estate Business In addition to stable growth of conventional real estate projects, we will focus on large-scale, mixed-use, area-based urban development projects Large-Scale Urban Development Real Estate Development Data Center Business in Japan Data Center business is expanding by 40% CAGR due to strong demand accelerating from rapid digitalization. We will continue developing and operating data centers meeting the global standards of our clients. Kanto Region Kansai Region (Index: FY2020=100) 250 200 150 100 50 0 2020 2021 Copyright 2023 Mitsubishi Corporation 200+ MW (IT capacity) 169 MW 133 MW 112 MW 74MW 74MW 54 MW 53MW 29 MW 95MW 59MW 59MW 2022 2025 mid to long term 2017 2019 2021 2023 2024 mid to long term 44