Investor Presentaiton

Mitsubishi Corporation Cash Flow Allocation Under Midterm Corporate Strategy 2024 ➤ Underlying operating CF is making solid progress. May 9, 2023 Mitsubishi Corporation ➤ In order to increase enterprise value, we will allocate Post-Returns FCF to investments and/or additional shareholder returns while maintaining financial discipline. Original (Released May 10, 2022) Cash Out Cash In (Approx. ¥4.5 Trillion over 3 Years) (Approx. ¥4.5 Trillion over 3 Years) Updated Forecast Cash In Cash Out (Approx. ¥4.5~5.5 Trillion over 3 Years) (Approx. ¥4.5~5.5 Trillion over 3 Years) Underlying Operating CF 3.0 Trillion Yen Investments 3.0 Trillion Yen Maintain/Expand Earnings Base Approx. ¥1.0 Trillion EX-related Approx. ¥1.2 Trillion DX/Growth-related Investment Approx. ¥0.8 Trillion CF from Divestments 1.5 Trillion Yen Investment/ Shareholder Returns (Allocated in Accordance with CF Fluctuations) Shareholder Returns More Than 0.7 Trillion Yen Copyright © 2023 Mitsubishi Corporation Underlying Operating CF 3.0-3.5 Trillion Yen CF from Divestments 1.5-2.0 Trillion Yen Investments 3.0 Trillion Yen Maintain/Expand Earnings Base Additional allocation Approx. ¥1.0 Trillion EX-related of up to ¥1.0 Trillion Approx. ¥1.2 Trillion DX/Growth-related Investment Approx. ¥0.8 Trillion Investment/ Shareholder Returns (Allocated in Accordance with CF Fluctuations) Shareholder Returns* More Than 1.5 Trillion Yen Including ¥200.0 bn allocated for shareholder returns in FY2022 Target Total Payout Ratio of Around 30%-40% Target Total Payout Ratio of Around 40% for FY2023 onward Including the Forecast for Cash dividends paid to non-controlling interests: Approx. 0.2 Trillion yen. 7

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