Investor Presentaiton

Mitsubishi 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

View entire presentation