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FY2025 1H Consolidated Financial Results November 10, 2025 TSE 4182 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 1
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Key Points of Today’s Results Briefing 2 [JPY in billions] YoY Net Sales 361.6 -26.4 Operating profit 25.1 -8.6 Profit attributable to owners of parent (27.9) -52.6 For the Netherlands MXDA plant where temporary suspension of construction was announced, an impairment loss on non-current assets (50.2 billion yen) was recorded as an extraordinary loss in the second quarter. (Note) Recorded at our consolidated subsidiary MGC Specialty Chemicals Netherlands B.V. (MSCN) １． FY２０２5 1H Results [JPY in billions] vs. Previous Forecast Net Sales 730.0 -２０.０ Operating profit 44.0 -２.０ Profit attributable to owners of parent (17.0) -５３.０ 2． FY2025 Full-Year Forecast + - Increase in sales volume of BT materials ⚫ Deterioration in polycarbonate (PC) and methanol market prices ⚫ Withdrawal from the ortho-xylene (OX) chain business Net Sales - ⚫ Increase in fixed costs due to capacity expansion for inorganic chemicals ⚫ Deterioration in profitability of meta- xylenediamine (MXDA) products Operating profit Interim dividend the year-end dividend Dividend Policy 50 yen＊ (confirmed) 50 yen＊ (forecast) ＊No change from previous forecast for either ©MITSUBISHI GAS CHEMICAL COMPANY, INC. - ⚫ Deterioration in PC market prices ⚫ Decrease in sales volume of inorganic chemicals + Increase in sales volume of BT materials Net Sales - ⚫ Deterioration in profitability of MXDA products ⚫ Decline in profitability due to deterioration in methanol market prices + Increase in sales volume of BT materials Operating profit (Note) Figures shown on this and the following pages are rounded down to the closest 0.1 billion. Percentage figures, per-share indicators, and performance assumptions are rounded off to the closest whole number.
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INDEX ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 3 Results and Forecast by Segment３ 2 FY2025 Forecast １ FY2025 1H Results 4 Topics
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©MITSUBISHI GAS CHEMICAL COMPANY, INC. 4 4 Topics Results and Forecast by Segment３ 2 FY2025 Forecast １ FY2025 1H Results
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[JPY in billions] FY２０２4 1H FY2025 1H Changes FY2025 1H Previous Forecast*Amount ％ Net Sales 388.1 361.6 -26.4 -6.8 360.0 Operating profit 33.7 25.1 -8.6 -25.5 24.0 Equity in earnings of affiliates 5.9 2.9 -2.9 -50.3 3.3 Ordinary profit 37.4 31.4 -5.9 -15.9 27.0 Profit attributable to owners of parent 24.7 (2７.9) -５２.６ - 20.0 E P S （ＪＰＹ） 123.47 (143.48) 102.71 ＦＸ (JPY/USD) 153 146 FY２０２5 1H Results ＊Announced on Aug. 7, 2025 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 5 Net sales: Despite robust sales of electronics materials, the Group’s net sales decreased, mainly due to the impact of the appreciation of the yen, lower market prices for engineering plastics and methanol, and withdrawal from the ortho-xylene chain business. Operating profit: Declined due primarily to lower market prices for the above offerings and growth in fixed costs associated with the expansion of production capacities of inorganic chemicals. Other factors leading to this decline included sluggish demand for meta-xylenediamine and its derivatives as well as intensifying competition in the market for these products, in addition to the appreciation of the yen. Ordinary profit: Decreased, due mainly to a decline in equity in earnings of affiliates related to the methanol business on the back of foreign exchange fluctuations and other factors. Interim loss attributable to owners of parent: Posted due to lower ordinary profit and the impairment of noncurrent assets ata subsidiary engaged in meta-xylenediamine manufacturing in the Netherlands.
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[JPY in billions] FY2024 1H FY2025 1H Changes Non-operating items 3.6 6.3 +2.6 Equity in earnings of affiliates 5.9 2.9 -2.9 Financial income or losses 1.0 2.5 +1.5 Foreign exchange gains or losses (1.9) 1.5 +3.5 Others (1.3) (0.7) +0.5 Extraordinary income 1.1 5.4 +4.3 Gains on sales of noncurrent assets - 3.5 ＋3.5 Gains on sales of investment securities 0.1 1.0 +0.9 Subsidy income 0.9 0.1 -0.7 Others - 0.6 +0.6 Extraordinary losses (1.6) (51.0) -49.3 Impairment losses (0.1) (50.2) -50.0 Provision allowance for doubtful accounts (0.1) (0.3) -0.2 Loss on tax purpose reduction entry of non- current assets (0.6) - +0.6 Others (0.7) (0.4) +0.2 Total extraordinary income and losses (0.5) (45.6) -45.0 FY２０２5 1H Non-Operating and Extraordinary Items ⚫ Equity in earnings of affiliates GEC -2.2 Specialty Chemicals -0.7 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 6 ⚫ Impairment losses -50.0 ・Impairment of MXDA Plant at MSCN, etc. Content of the Difference Content of the Difference
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ー In addition to delays in the schedule due to factors including the switch of construction contractors last fiscal year, the business environment for the project has rapidly deteriorated due to soaring construction and labor costs stemming from the Russia-Ukraine conflict along with changes in the competitive environment in the MXDA market. ー In light of this situation, we resolved and announced the temporary suspension of the construction work at the meeting of the Board of Directors held on September 17, 2025. ー Following the temporary suspension of construction, as a result of a comprehensive evaluation of the project‘s economic viability and ability to recoup investment, we recognized a 50.2 billion yen impairment loss on MSCN’s non-current assets in the FY2025 second-quarter consolidated results. (Note) In the non-consolidated results, we recorded 29.9 billion yen in valuation loss on shares of subsidiaries and affiliates and 21.9 billion yen in provision for business losses of subsidiaries and affiliates, but these are eliminated in the consolidated results. ー Currently, we are considering all options toward improving profitability for the entire MXDA business, including whether to continue the construction. About the MXDA Europe Plant 7 ー MXDA is one of the meta-xylene derivatives, and its main applications include epoxy resin curing agents, polyamides, and isocyanates. ー Low-environmental-impact repair materials for wind power generation blades are also being increasingly recognized as a new application, and stable market growth is expected in the future. Currently, our company produces MXDA at two production bases in Japan. Aims of the project： Securing a production base in Europe, MXDA's largest market Temporary suspension of construction work- impairment loss recorded ー We proceeded with construction, initially aiming to start production in July 2024, through our consolidated subsidiary MGC Specialty Chemicals Netherlands B.V. (MSCN). ©MITSUBISHI GAS CHEMICAL COMPANY, INC. ー In September 2021, we announced plans to construct an MXDA production facility with an annual capacity of 20,000 MT in Europe (Rotterdam industrial zone, Netherlands), the largest market for MXDA.
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Others -4.2 Quantity factors +0.6 Price factors -3.4 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 8 OP -8.6 25.133.7 FY2024 1H FY2025 1H FY2025 1H Increase and Decrease Factors of Operating Profit (YoY) （－） Methanol, BT materials, MXDA, etc. (+) BT materials, etc. （－） PC, etc. Forex factors -1.6 [JPY in billions] （－） Depreciation costs, MSCN-related, etc. (Forex rates*) FY2024 1H： ¥153/＄ FY2025 1H： ¥146/$ ＊ Exchange Sensitivity USD, rough estimate : with an appreciation (depreciation) of ¥1 against the USD, annual operating profit falls (increases) by ¥0.5bn, while annual ordinary profit falls (increases) by ¥0.5bn. EUR, rough estimate : with an appreciation (depreciation) of ¥1 against the EUR, annual operating profit falls (increases) by ¥0.1bn, while annual ordinary profit falls (increases) by ¥0.1bn.
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©MITSUBISHI GAS CHEMICAL COMPANY, INC. 9 4 Topics Results and Forecast by Segment３ 2 FY2025 Forecast １ FY2025 1H Results
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FY2025 Full-Year Forecast 10©MITSUBISHI GAS CHEMICAL COMPANY, INC. [JPY in billions] FY2025 Previous Forecast*1 FY2025 Revised Forecast Changes FY2024Amount ％ Net sales 750.0 73０.0 -20.0 -2.7 773.5 Operating profit 46.0 44.0 -2.0 -4.3 50.8 Ordinary profit 50.0 50.0 - - 60.3 Profit attributable to owners of parent 36.0 (17.0) -53.0 - 45.5 E P S （ＪＰＹ） 184.87 （８７.30） 22８.93 R O E (%) 5.4 - 6.9 R O Ｉ Ｃ*2 (%) 4.2 3.9 6.4 ＦＸ (JPY/USD) 145 146 １５３ *1 Announced on Aug. 7, 2025 *2 ROIC =(Operating profit - Income taxes + Equity in earnings of affiliates) / invested capital ー Based on the impairment loss recorded in the second quarter and recent business trends, we have revised downward our full-year forecast and expect a net loss for the full year. ー Although we expect an increase in the sales volume of BT materials, operating profit is expected to decrease due to deterioration in profitability for MXDA and its derivatives, and a decrease in sales volume for chemicals for use in semiconductor manufacturing.
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Key Points of FY２０２5 Full-Year Forecast ー Changes from previous forecast : net sales -¥20.0 billion; operating profit -¥2.0 billion; ordinary profit is same as the previous forecast. Key individual change factors of operating profit （－） Deterioration in profitability for MXDA and its derivatives, deterioration in earnings due to change in MSCN operation assumptions （－） Deterioration in methanol market prices （－） Delay in recovery of demand from some customers for chemicals for use in semiconductor manufacturing （＋） Increase in sales volume of BT materials （＋） Decrease in SG&A expenses ー Year-end dividend forecast : ¥50 (same as the previous forecast*) ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 11 ■Assumed exchange rates (2H）： $1=¥145 （same as the previous forecast）, €1＝￥170 （¥5 depreciation against the previous forecast ） (Sensitivity (USD, rough estimate): with an appreciation (depreciation) of ¥1 against the USD, annual operating profit falls (increases) by ¥0.5bn, while annual ordinary profit falls (increases) by ¥0.5bn) (Sensitivity (EUR, rough estimate): with an appreciation (depreciation) of ¥1 against the EUR, annual operating profit falls (increases) by ¥0.1bn, while annual ordinary profit falls (increases) by ¥0.1bn.) ■Assumed crude oil prices （2H）： $70/bbl. （same as the previous forecast） (Sensitivity (USD, rough estimate): $1/bbl. Increase (drop) in crude oil reduces (raises) profit by ¥0.3bn, excluding methanol affect) * Announced on Aug. 7, 2025
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(+） BT materials (－) Optical polymer, Electronic chemicals, MXDA, etc. (+) R&D expense, etc. FY２０２5(F) Increase and Decrease Factors of Operating Profit (vs. Previous Forecast) FY2025 Previous Forecast 46.0 Others +0.8 Price factor -1.8 FY2025 Revised Forecast ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 12 OP -2.0 44.0 Quantity factor -2.1 (－） Methanol, etc. Forex factors +1.1 [JPY in billions] (Forex rates) Previous Forecast : ¥145/＄ Revised Forecast ： ¥146/$
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FY２０２5 2H Forecast (vs. 1H Results） 13©MITSUBISHI GAS CHEMICAL COMPANY, INC. [JPY in billions] FY2025 1H Results FY2025 2H Forecast Changes Net Sales 361.6 3６８.3 +6.６ Operating profit 25.1 18.8 -6.２ Equity in earnings of affiliates 2.9 2.5 -0.4 Ordinary profit 31.4 18.5 -１２．９ Profit attributable to owners of parent (27.9) 10.9 +38.８ ー Second-half forecast: Although profitability is expected to improve for methanol due to improving market prices, operating profit is expected to decrease due to a reactionary decline from the strong performance of BT materials in the first half, as well as increases in fixed costs such as scheduled maintenance expenses and depreciation. ー Net profit is expected to increase due to the impact of the impairment loss recorded in the first half.
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Investment Policy and Shareholder Returns 14 16.6 16.3 16.2 18.7 19.5 7.0 10.0 15.0 34% 48% 67% 74% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 FY2021 FY2022 FY2023 FY2024 FY2025(F) Grow UP 2023 Grow UP 2026 Dividends Share buybacks Total payout ratio (single year) (Billions of yen) Forecast Annual dividend (Yen per share) Profit 48.2 80 49.0 80 38.８ 80 95 45.5 (17.0) 100* Progressive dividend policy *Incl. ¥10 commemorative dividend ©MITSUBISHI GAS CHEMICAL COMPANY, INC. Although a full-year net loss is expected for FY2025, financial soundness will continue to be maintained. There is no change to the shareholder return policy* during the period of the medium-term management plan, and the previous forecast (interim dividend of 50 yen, year-end dividend of 50 yen) remains unchanged. We will continue implementing balance sheet control to reduce the cost of capital and improve capital profitability. * The adoption of a progressive dividend policy、the total payout ratio to 50% and DOE (dividend on equity) of 3%
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©MITSUBISHI GAS CHEMICAL COMPANY, INC. 15 4 Topics Results and Forecast by Segment３ 2 FY2025 Forecast １ FY2025 1H Results
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10.1 4.3 14.2 6.2 163.9 141.1 0 5 10 15 20 25 0.0 FY2024 1H FY2025 1H Operating profit Ordinary profit Net sales Green Energy & Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 16 [JPY in billions] FY2025 1H Results Net sales: Sales decreased due to factors including a deterioration in methanol market prices, and withdrawal from the OX chain business. Operating profit: Profit decreased due to factors including a deterioration in profitability for methanol, MXDA and derivatives, and appreciation of the yen. Ordinary profit: Profit decreased due to deterioration in equity- method earnings for methanol due in part to Forex factors. Extraordinary losses: Impairment loss on non-current assets at MSCN recorded. FY2024 1H OthersQuantity factors FY2025 1H Operating Profit -5.8 【 FY2025 1H Increase and Decrease Factors of Operating Profit (YoY) 】 Price factors -2.4 -1.4 10.1 （－） MSCN-related, etc.（－） Methanol, MXDA, etc. -2.0 （－） Methanol, etc. 4.3
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[JPY in billions] FY2024 1H Results FY2025 1H Results Changes Net sales 163.9 141.1 -22.8 Natural Gas 119.5 104.5 -14.9 Aromatic 44.9 36.8 -8.1 Other/Adjustment (0.4) (0.2) +0.2 Operating profit 10.1 4.3 -5.8 Natural Gas 7.7 3.0 -4.6 Aromatic 2.3 1.2 -1.1 Other/Adjustment 0.0 0.0 -0.0 Ordinary profit 14.2 6.2 -8.0 Natural Gas 11.0 4.0 -7.0 Aromatic 3.2 2.2 -1.0 Other/Adjustment 0.0 0.0 -0.0 Green Energy & Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 17 FY２０２5 1H Results （Compared with FY2024 1H Results） Natural Gas Chemicals Methanol Decreased in both net sales and earnings due to lower market prices compared with the same period of the previous fiscal year. Methanol and ammonia-based chemicals Posted net sales and operating profit on par with the same period of the previous fiscal year, despite lower ammonia and MMA market prices, thanks to such positive factors as lower fixed costs. The energy resources And environmental business Decreased in net sales and earnings due to the lower sales volume of LNG for power generation use and a decline in crude oil prices. Aromatic Chemicals MXDA* , aromatic aldehydes and polymer Materials * including derivatives Decreased in net sales and earnings, reflecting such factors as sluggish demand for products targeting European, U.S. and Chinese markets, as well as intensifying competition and higher fixed costs. Xylene separators and derivatives Decreased in net sales due to the withdrawal from the ortho-xylene chain, but recorded an increase in earnings due primarily to reductions in fixed costs following the withdrawal. (Note) Breakdown shows segments by major product group
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[JPY in billions] FY2025 1H Results FY2025 2H Forecast Changes Net sales 141.1 146.8 +5.7 Natural Gas 104.5 108.4 +3.8 Aromatic 36.8 38.6 +1.8 Other/Adjustment (0.2) (0.2) +0.0 Operating profit 4.3 3.7 -0.5 Natural Gas 3.0 3.3 +0.2 Aromatic 1.2 0.4 -0.8 Other/Adjustment 0.0 0.0 -0.0 Ordinary profit 6.2 4.1 -2.0 Natural Gas 4.0 3.5 -0.4 Aromatic 2.2 0.6 -1.5 Other/Adjustment 0.0 (0.0) -0.0 Green Energy & Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 18 FY２０２5 2H Forecast （Compared with FY2025 1H Results） Natural Gas Chemicals Methanol Market prices expected to improve mainly due to strengthened US sanctions on Iranian products and limited raw material natural gas supplies in winter (1H results $309 → 2H forecast $3２5). Methanol and ammonia-based chemicals Although a recovery in demand is assumed, a decline in profit is expected mainly due to scheduled maintenance for MMA products in the second half. The energy resources And environmental business Although an increase in revenue is expected from the sales of LNG for power generation, a decline in profit is expected mainly due to an increase in fixed costs for the iodine business. Aromatic Chemicals MXDA* , aromatic aldehydes and polymer Materials * including derivatives Although an increase in volume is expected from the recovery of demand in China and Europe/US and price adjustments, profit is expected to decrease due to scheduled maintenance. Xylene separators and derivatives Continued sluggish market prices for purified isophthalic acid (PIA) are expected. A decline in profit is expected, factoring in scheduled maintenance. (Note) Breakdown shows segments by major product group
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25.2 22.725.8 26.0 222.9 219.9 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 0.0 FY2024 1H FY2025 1H Operating profit Ordinary profit Net sales Specialty Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 19 FY2025 1H Results Net sales: Although sales volume of electronic materials such as BT materials increased, revenue decreased due to factors including a decline in engineering plastics market prices and appreciation of the yen. Operating profit: Profit declined mainly due to the factors stated above, as well as increased fixed costs for inorganic chemicals and increased costs associated with enhanced quality measures for BT materials. 【 FY2025 1H Increase and Decrease Factors of Operating Profit (YoY) 】 [JPY in billions] ©MITSUBISHI GAS CHEMICAL COMPANY, INC. FY2024 1H OthersQuantity factors FY2025 1H Operating Profit -2.5 Price factors -2.6 -2.5 （－） Depreciation costs, etc.（＋） BT materials, etc. （－） PC, Optical polymer, etc. 25.2 2２.7 （－） Forex factors, BT materials, PC, etc. +2.6
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[JPY in billions] FY2024 1H Results FY2025 1H Results Changes Net sales 222.9 219.9 -2.9 Specialty 186.6 174.0 -12.6 Information & Advanced Materials 36.2 45.9 +9.6 Other/Adjustment (0.0) (0.0) -0.0 Operating profit 25.2 22.7 -2.4 Specialty 17.2 12.7 -4.4 Information & Advanced Materials 7.9 9.9 +1.9 Other/Adjustment 0.0 0.0 -0.0 Ordinary profit 25.8 26.0 +0.1 Specialty 16.8 14.7 -2.1 Information & Advanced Materials 8.9 11.2 +2.3 Other/Adjustment 0.0 0.0 -0.0 Specialty Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 20 FY２０２5 1H Results （Compared with FY2024 1H Results） Specialty Chemicals Inorganic chemicals Decreased in net sales and earnings due to growth in fixed costs associated with the expansion of production capacities at a production base for chemicals for use in semiconductor manufacturing in Taiwan. Other factors leading to decreases in net sales and earnings included the appreciation of the yen. Engineering plastics Decreased in net sales and earnings due mainly to lower polycarbonate sales prices and lower sales volume which, in turn, resulted in deterioration in the profitability of overseas manufacturing bases. Optical materials Decreased in net sales and earnings. This was due to inventory adjustments carried out by customers and a resulting decline in the sales volume of products for use in smartphones, a primary application of optical polymers. Other factors leading to decreases in net sales and earnings included growth in such fixed costs as depreciation. Information & Advanced Materials Electronics materials Increased in net sales and earnings, even though the strengthening of quality management measures for BT materials for IC plastic packaging resulted in higher costs. The above increases were attributable to recovery in demand, a customer trend toward securing stockpiles in response to anxiety regarding the supply of some raw materials, and growth in the sales volume of OPETM substrate material for AI servers. Living Tech and Higiene Solutions (Former oxygen absorbers) Posted net sales and earnings on par with the same period of the previous fiscal year, despite the lower sales volume of oxygen absorbers for export, as environmental sanitation chemicals were transferred from the inorganic chemicals business and included in the above product category from April 1, 2025. (Note) Breakdown shows segments by major product group
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[JPY in billions] FY2025 1H Results FY2025 2H Forecast Changes Net sales 219.9 219.4 -0.4 Specialty 174.0 174.6 +0.5 Information & Advanced Materials 45.9 44.8 -1.0 Other/Adjustment (0.0) (0.0) +0.0 Operating profit 22.7 17.7 -4.9 Specialty 12.7 8.8 -3.9 Information & Advanced Materials 9.9 8.9 -1.0 Other/Adjustment 0.0 (0.0) -0.0 Ordinary profit 26.0 16.7 -9.3 Specialty 14.7 7.7 -7.0 Information & Advanced Materials 11.2 8.9 -2.3 Other/Adjustment 0.0 (0.0) -0.0 Specialty Chemicals ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 21 FY２０２5 2H Forecast （Compared with FY2025 1H Results） Specialty Chemicals Inorganic chemicals Although demand for chemicals for use in semiconductor manufacturing is on a recovery trend, a decline in profit is forecasted, incorporating factors such as increased fixed costs from new plant operations. Engineering plastics Continued sluggish market prices for general- purpose PC are expected in the second half as well. Moreover, a decline in profit is expected, mainly due to increased fixed cost burdens at production bases in Japan. Optical materials Strong sales are expected for optical polymers. A decline in profit is expected, anticipating the impact of scheduled maintenance and other factors. Information & Advanced Materials Electronics materials A decline in profit is expected due to a reactionary decline from a strong performance in the first half. Costs from enhanced quality measures are expected to decrease compared to the first half. Expanded plant at the Thailand site to start commercial operations in the second half. Living Tech and Hygiene Solutions (Former oxygen absorbers) Although strong sales are expected for oxygen absorbers in Japan, a decrease in export volume is anticipated, leading to an expected decline in profit. (Note) Breakdown shows segments by major product group
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ー We recognize the need to implement initiatives to improve performance in the short term in response to rapid changes in the external environment and the recording of an impairment loss, and to further accelerate the strengthening of the resiliency of our business portfolio. ー We established the Business Portfolio Resilience Strengthening Task Force led by the President to further promote short-term performance improvements and business structure reform. Recognition of Current Challenges and Implementation of Short-term Intensive Improvement Measures Recognition of current challenges ✓ While the outlook for semiconductor market expansion remains unchanged, the external environment is harsh due to factors including the levying of US tariffs, stagnation in European and Chinese economies, and intensification of competition, particularly in the general-purpose sector ✓ The recording of an impairment loss has significantly worsened net profit for the current fiscal year Fundamental structural reform, not merely an extension of current practices, is necessary Short-term intensive improvement measures within the current fiscal year promoting company - wide performance improvements and business structure reform ©MITSUBISHI GAS CHEMICAL COMPANY, INC. Business Portfolio Resilience Strengthening Task Force ✓ Cost cutting without exceptions, further promotion of asset-light strategy (sale of non-business assets including social welfare facilities), and further reduction of strategic shareholdings ✓ Acceleration of achievement of results from large- scale investments ✓ Businesses requiring intensive management (PC- related products, xylene separators and derivatives): Promote initiatives with a sense of speed ✓ Strengthening of investment discipline: Rigorous selection of capital investment projects, optimization of implementation timing, and stricter return requirements 22
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ー To realize the vision set forth in the MGC Way, “an excellent company with uniqueness and presence built on chemistry," we will execute fundamental structural reforms in addition to short-term intensive improvement measures. ー The progress on various measures will be reported at the Management Overview Briefing to be held in June of next year. Fundamental Structural Reforms and Our Vision for MGC ▍ Focus on customer challenges, thoroughly implement market-oriented thinking ▍ Expand connections with customers from isolated points to comprehensive areas through unique technologies and original R&D A truly R&D - oriented company Vision for MGC An excellent company with uniqueness and presence built on chemistry Vision ision alue Mission MGC Way ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 23 Strengthening the resiliency of our business portfolio • Further concentration of management resources on growing and winning businesses including ICT-related businesses • Creation of new businesses that provide strong price negotiation power • Promotion of business portfolio replacement from the perspectives of profitability and the best owner Shift from expansion of scale to an emphasis on capital profitability • Improvement in operating profit margin, ROIC, and ROE For social value-leading businesses, actively utilize external partners and public support to establish revenue models while managing risks appropriately Fundamental structural reforms from next fiscal year toward the next medium-term management plan
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セグメント別 業績概要３ Appendix １ 2020年度決算概要 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 24
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-5 10 25 40 55 70 85 100 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2024 Results 51.5 FY2026 Target 70.0 or higher ー Re-expand during this medium-term management plan, mainly by promoting the three ICT businesses as growth drivers Operating Profit Trend of Uniqueness & Presence Businesses Operating profit U&P businesses Other businesses (including head office expenses, etc. that cannot be attributed to GEC and Specialty business sectors) FY2009–FY2014 MGC Will FY2015–FY2020 MGC Advance Grow UP 2023 FY2021–FY2023 Grow UP 2026 FY2024–FY2026 plan ( ) (billions of yen) U&P Businesses : The businesses that should receive priority allocation of management resources Electronics materials, Electronic chemicals (super-pure hydrogen peroxide, hybrid chemicals), Optical materials, Methanol, Energy resources and environmental businesses, Polyacetal, MXDA, MX nylon, Aromatic aldehydes FY2025 Forecast 44.1 FY2025 1H Results 23.4 ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 25 forecast
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Operating Profit by Major Product Groups ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 26 -5 0 5 10 15 20 25 30 35 40 FY2019 1H FY2019 2H FY2020 1H FY2020 2H FY2021 1H FY2021 2H FY2022 1H FY2022 2H FY2023 1H FY2023 2H FY2024 1H FY2024 2H FY2025 1H FY2025 2H(F) Natural Gas Chemicals Aromatic Chemicals Specialty Chemicals Information & Advanced Materials Other/Adjustment [JPY in billions] (Note) These are reference values calculated according to past segments.
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Results and Forecast by Segment ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 27 [JPY in billions] FY2024 Results FY2025 Previous Forecast* FY2025 Revised Forecast 1H 2H FY 1H 2H FY 1H 2H FY Net sales 388.1 385.4 773.5 360.0 390.0 750.0 361.6 368.3 730.0 GEC 163.9 159.2 323.1 142.3 159.0 301.3 141.1 146.8 288.0 Specialty Chemicals 222.9 221.2 444.1 216.3 229.6 445.9 219.9 219.4 439.3 Other/Adjustment 1.2 4.9 6.2 1.3 1.2 2.6 0.6 1.9 2.5 Operating profit 33.7 17.0 50.8 24.0 22.0 46.0 25.1 18.8 44.0 GEC 10.1 2.6 １2.7 3.8 6.3 10.2 4.3 3.7 8.1 Specialty Chemicals 25.2 16.1 41.3 22.6 18.3 41.0 22.7 17.7 40.5 Other/Adjustment (1.5) (１.6) (3.2) (2.5) (2.7) (5.2) (1.9) (2.6) (4.6) Ordinary profit 37.4 ２2.8 60.3 27.0 23.0 50.0 31.4 18.5 50.0 GEC 14.2 6.2 20.5 6.2 8.5 14.8 6.2 4.1 10.4 Specialty Chemicals 25.8 １8.0 43.9 23.1 17.0 40.1 26.0 16.7 42.7 Other/Adjustment (2.7) (１.3) (4.1) (2.4) (2.5) (4.9) (0.7) (2.3) (3.1) * Announced on Aug 7, 2025
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Quarterly Results by Segment ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 28 [JPY in billions] FY2024 Results FY2025 Results １Q ２Q ３Q ４Q １Q ２Q Net sales 188.1 200.0 195.0 190.4 177.9 183.7 GEC ７８.３ 85.5 80.4 78.7 68.2 72.8 Specialty Chemicals 109.2 113.6 113.4 107.8 108.9 111.0 Other/Adjustment 0.４ 0.8 1.0 3.8 0.8 (0.1) Operating profit １５.7 18.0 11.5 5.5 10.9 14.1 GEC ４.１ 6.0 2.8 (0.2) 1.9 2.3 Specialty Chemicals 12.6 12.6 9.9 6.2 9.6 13.0 Other/Adjustment (0.9) (0.6) (1.2) (0.4) (0.6) (1.2) Ordinary profit 17.9 19.4 16.4 6.4 13.8 17.6 GEC 4.5 9.7 4.1 2.1 3.9 2.3 Specialty Chemicals 13.9 11.9 12.6 5.4 9.9 16.0 Other/Adjustment (0.５) (2.2) (0.2) (1.0) (0.0) (0.7)
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©MITSUBISHI GAS CHEMICAL COMPANY, INC. 29 [JPY in billions] FY2024 Results FY2025 Previous Forecast* FY2025 Revised Forecast 1H 2H FY 1H 2H FY 1H 2H FY Net sales 388.1 385.4 773.5 360.0 390.0 750.0 361.6 368.3 730.0 Natural Gas 119.5 113.4 232.9 105.7 116.8 222.6 104.5 108.4 213.0 Aromatic 44.9 46.3 91.2 36.9 42.4 79.3 36.8 38.6 75.4 Specialty 186.6 184.0 370.6 172.2 186.5 358.8 174.0 174.6 348.6 Information & Advanced Materials 36.2 37.2 73.5 44.0 43.1 87.1 45.9 44.8 90.7 Other/Adjustment 0.7 4.3 5.1 0.9 1.0 2.0 0.3 1.7 2.0 Operating profit 33.7 17.0 50.8 24.0 22.0 46.0 25.1 18.8 44.0 Natural Gas 7.7 2.3 10.0 2.4 4.8 7.3 3.0 3.3 6.3 Aromatic 2.3 0.2 2.6 1.3 1.4 2.8 1.2 0.4 1.7 Specialty 17.2 9.4 26.6 12.8 10.3 23.1 12.7 8.8 21.6 Information & Advanced Materials 7.9 6.7 １4.6 9.8 8.0 17.8 9.9 8.9 18.9 Other/Adjustment (1.5) (１.7) (3.2) (2.4) (2.7) (5.1) (1.9) (2.6) (4.6) Ordinary profit 37.4 ２2.8 60.3 27.0 23.0 50.0 31.4 18.5 50.0 Natural Gas 11.0 4.4 15.5 3.8 7.0 10.9 4.0 3.5 7.5 Aromatic 3.2 1.7 4.9 2.3 1.4 3.8 2.2 0.6 2.8 Specialty 16.8 １1.0 ２7.9 13.5 9.1 22.6 14.7 7.7 22.5 Information & Advanced Materials 8.9 7.0 １5.9 9.6 7.8 17.4 11.2 8.9 20.2 Other/Adjustment (2.6) (1.4) (4.1) (2.4) (2.5) (4.9) (0.7) (2.3) (3.1) (Note) These are reference values calculated according to past segments. * Announced on Aug 7, 2025 Results and Forecast by Major Product Groups
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JPY in billions] FY2024 Results FY2025 Results 1Q 2Q 3Q 4Q 1Q 2Q Net sales 188.1 200.0 195.0 190.4 177.9 183.7 Natural Gas 56.5 62.9 55.2 58.2 49.8 54.6 Aromatic 22.0 22.8 25.4 20.9 18.5 18.3 Specialty 91.0 95.6 94.9 89.0 86.9 87.0 Information & Advanced Materials 18.2 17.9 18.4 18.7 21.9 23.9 Other/Adjustment 0.1 0.5 0.9 3.4 0.6 (0.3) Operating profit １５.7 18.0 11.5 5.5 10.9 14.1 Natural Gas 2.7 4.9 (0.0) 2.4 1.2 1.8 Aromatic 1.3 1.0 2.9 (2.7) 0.6 0.5 Specialty 8.4 8.8 6.6 2.8 5.1 7.6 Information & Advanced Materials 4.1 3.8 3.3 3.3 4.4 5.4 Other/Adjustment (0.９) (0.6) (1.3) (0.4) (0.6) (1.2) Ordinary profit 17.9 19.4 16.4 6.4 13.8 17.6 Natural Gas 2.6 8.3 (0.5) 5.0 3.0 1.0 Aromatic 1.7 1.4 4.6 (2.9) 0.8 1.3 Specialty 9.0 7.8 8.9 2.0 4.7 10.0 Information & Advanced Materials 4.9 4.0 3.6 3.3 5.2 6.0 Other/Adjustment (0.４) (2.2) (0.3) (1.0) (0.0) (0.7) Quarterly Results by Major Product Groups ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 30 (Note) These are reference values calculated according to past segments.
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FY２０２5 1H Balance Sheets ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 31 Mar. 31, 2025 Sep. 30, 2025 Changes Current assets 460.2 436.5 -23.7 Cash and deposits 68.2 60.7 -7.4 Trade notes and Accounts receivable 157.8 144.1 -13.6 Inventories 207.5 206.0 -1.4 Others 26.6 25.4 -1.1 Non-current assets 659.4 638.8 -20.5 Tangible assets 366.5 342.7 -23.8 Intangible assets 24.9 24.4 -0.5 Investments and other assets 267.8 271.7 +3.8 Total assets 1,119.6 1,075.4 -44.2 Mar. 31, 2025 Sep. 30, 2025 Changes Liabilities 422.3 409.8 -12.4 Trade note and accounts payable 103.0 83.9 -19.1 Interest-bearing debt 213.9 231.4 +17.4 Others 105.2 94.4 -10.7 Net assets 697.3 665.5 -31.8 Shareholders’ equity 600.7 563.3 -37.4 Accumulated other comprehensive income 67.4 69.9 +2.4 Non controlling interest 29.1 32.2 +3.0 Total liabilities and net assets 1,119.6 1,075.4 -44.2 [JPY in billions] [JPY in billions] Equity Ratio ５8.9% (as of Sep. 30, 2025)
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FY２０２5 1H Cash Flows ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 32 [JPY in billions] FY２０２4 1H FY2025 1H Changes Operating activity cash flows 35.5 29.8 -5.7 Investing activity cash flows (49.6) (39.9) +9.7 Free cash flows (14.0) (10.0) +4.0 Financing activity cash flows 8.6 3.2 -5.4 Effect of exchange rate change on cash and cash equivalents 1.2 (0.3) -1.5 Net increase (decrease) in cash and cash equivalents (4.1) (7.1) -3.0 Cash and cash equivalents at beginning of period 65.3 56.9 -8.4 Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation 0.6 - -0.6 Cash and cash equivalents at end of period 61.8 49.8 -12.0
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[JPY in billions] FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 (F) Capital expenditure [1H] 35.0 [13.7] 30.9 [13.9] 39.2 [18.6] 42.3 [22.4] 40.2 [15.8] 54.7 [22.0] 64.6 [31.2] 81.7 [38.0] 88.7 [39.7] 82.0 [41.5] Depreciation& amortization [1H] 25.6 [12.2] 27.0 [13.1] 27.4 [13.5] 29.5 [14.4] 30.6 [15.1] 31.9 [15.8] 33.5 [16.1] 36.3 [18.3] 34.6 [16.8] 39.0 [18.5] R&D expenditure [1H] 19.2 [9.6] 18.9 [9.5] 18.6 [9.1] 19.6 [9.4] 19.9 [9.8] 21.0 [10.1] 23.5 [11.1] 25.6 [12.6] 26.1 [12.7] 28.0 [12.4] Employees (as of Mar. 31) 8,034 8,009 8,276 8,954 8,998 9,888 10,050 7,918 8,146 8,300 EBITDA*1 89.4 108.8 97.6 61.6 81.7 107.0 105.0 84.9 97.3 92.0 Operating Profit of U&P Businesses 21.3 31.4 25.0 29.7 37.4 42.3 41.8 40.6 51.5 44.1 ROE (%) 12.0 13.6 11.3 4.3 7.1 8.8 8.3 6.1 6.9 - ROIC (%)*2 9.6 12.1 9.5 3.6 6.2 7.4 6.4 3.3 6.4 ３.９ Operating profit margin (%) 7.9 9.9 6.4 5.6 7.5 7.8 6.3 5.8 6.6 6.0 EPS (Yen) 221.83 281.39 257.46 100.50 173.41 232.15 239.08 190.97 228.93 (87.30) DPS*4 (Yen) [Interim dividend] 38.00 [16.00] 59.00 [24.00] 70.00 [35.00] 70.00 [35.00] 70.00 [35.00] 80.00*3 [45.00*3] 80.00 [40.00] 80.00 [40.00] 95.0０ [45.00] 100.0０ [50.00] Total payout ratio (%) 30.1 32.5 27.2 111.4 40.4 34.5 47.9 67.5 74.1 - ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 33 Reference： Key Indicators （1） *1 EBITDA = Ordinary profit + depreciation expense + interest paid *2 ROIC =(Operating profit - Income taxes + Equity in earnings of affiliates) / invested capital *3 Commemorative dividend 10yen *4 The Company conducted a consolidation of shares at a ratio of one share for every two shares effective October1,2016. EPS and dividends of 2016 are retroactively adjusted figures assuming such reverse stock split had taken place.
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Reference： Key Indicator （2） Capex, depreciation and amortization by segment ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 34 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 Capex* Natural Gas 9.0 6.0 5.7 7.2 GEC 19.7 19.2 32.0 37.0 34.9 Aromatic 10.5 11.3 14.6 15.0 Specialty 8.1 11.0 14.4 14.6 Specialty Chemicals 18.6 32.6 28.6 41.9 50.0Information & Advanced Materials 6.6 1.9 2.3 2.6 Other 0.5 0.6 2.1 2.7 Other 1.8 2.9 3.9 2.7 3.7 Total 35.0 30.9 39.2 42.3 Total 40.2 54.7 64.6 81.7 88.7 Depreciation Natural Gas 5.0 5.1 5.5 6.3 GEC 16.4 17.1 17.9 17.3 13.7 Aromatic 8.5 8.5 8.7 9.5 Specialty 8.6 9.1 8.7 8.7 Specialty Chemicals 13.0 13.0 13.7 16.8 18.5Information & Advanced Materials 3.0 3.5 3.6 3.8 Other 0.3 0.5 0.8 1.0 Other 1.1 1.7 1.8 2.0 2.4 Total 25.6 27.0 27.4 29.5 Total 30.6 31.9 33.5 36.3 34.6 [JPY in billions] *Fixed assets recorded basis
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＊ Describe the minimum and maximum values during the period ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 35 FY2021 FY2022 FY2023 FY2024 FY2025 (F) 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H (F) FX(JPY/USD) 110 115 134 137 １４１ １４８ 153 152 146 145 FX(JPY/EUR) 131 130 139 143 １５３ １６０ 166 １６2 168 170 Crude oil (Dubai) （USD/bbl.） 69 87 102 83 ８２ ８２ 82 75 69 70 Methanol (USD/MT) 370 428 375 351 ２９７ ３２４ 333 ３35 309 325 Mixed xylene (USD/MT) 780 875 1,105 925 ９６０ ９１０ 885 750 ６９５ 725 Bisphenol A (USD/MT)＊ 2,750 ～3,700 2,100 ～3,150 1,450 ～2,200 1,250 ～1,700 1,150 ～1,400 1,250 ～1,350 1,250 ～1,350 1,200 ～1,350 1,100 ～1,250 1,100 ～1,200 Polycarbonate (USD/MT)＊ 3,100 ～4,050 2,650 ～3,650 1,950 ～2,900 1,800 ～2,200 1,650 ～1,900 1,700 ～1,900 1,750 ～1,900 1,600 ～1,800 1,500 ～1,650 1,500 ～1,600 Sensitivity (rough estimates) FX (USD): with an appreciation (depreciation) of ¥1 against the USD, annual operating profit falls (increases) by ¥0.5 bn, while annual ordinary profit falls (increases) by ¥0.5 bn. FX (EUR): with an appreciation (depreciation) of ¥1 against the EUR, annual operating profit falls (increases) by ¥0.1 bn, while annual ordinary profit falls (increases) by ¥0.1 bn. Crude oil (Dubai): A $1/bbl. increase (drop) in crude oil reduces (raises) profit by ¥0.3 bn (excluding methanol affect). Methanol: $1/MT increase (drop) in market price raises (reduces) equity in earnings of affiliates by ¥0.1 bn. Reference： Key Indicators （3）
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Main products of Each Reportable Segment ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 36 Reportable Segments Former Segments Main Products(～FY2024) Main Products(FY2025～) Green Energy & Chemicals Natural Gas Chemicals ・Methanol ・Methanol and ammonia-based chemicals （ammonia and amines, MMA products, formalin and polyol products, etc.) ・Energy resources and environmental businesses no change Aromatic Chemicals ・MXDA, aromatic aldehydes, polymer materials(MX nylon, etc.) ・Xylene separators and derivatives (Meta-xylene, purified isophthalic acid (PIA), etc.) no change Specialty Chemicals Specialty Chemicals ・Inorganic chemicals （electronic chemicals (super-pure hydrogen peroxide, hybrid chemicals), hydrogen peroxide, etc.) ・Engineering plastics （polycarbonate/sheet film, polyacetal, etc.） ・Optical materials （optical polymers, ultra-high refractive lens monomer, etc.） no change＊ Information and Advanced Materials ・Electronic materials （BT materials for IC plastic packaging, etc.） ・Oxygen absorbers (AGELESSTM, etc.) ・Electronic materials （BT materials for IC plastic packaging, etc.） ・LivingTech and Hygiene Solutions＊ (Oxygen absorbers : AGELESSTM, etc.) (Environmental and Hygiene Chemicals： DIAPOWER, etc.) ＊ With the establishment of the LivingTech and Hygiene Solutions Division in April 2025, inorganic chemicals related to environmental hygiene (medical equipment cleaning, beverage container sterilization, pollution control chemicals) were transferred to main products of the Information & Advanced Materials group.
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©MITSUBISHI GAS CHEMICAL COMPANY, INC. 37 Reference: Upcoming IR Events – FY2025 third quarter financial results announcement February 10, 2026 (Tuesday) 15:30 – FY2025 third quarter results presentation for analysts and institutional investors February 10, 2026 (Tuesday) Time to be announced (Note) The above schedule is subject to change without notice.
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This document has been translated from the Japanese original for reference purpose only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. This document contains performance forecasts and other statements concerning the future. These forward- looking statements are based on information available at the time. These materials were prepared and on certain premises judged to be reasonable. None of these forward-looking statements are intended to be guarantees of future performance. Various factors may cause actual performance to differ significantly from forecasts. Disclaimer ©MITSUBISHI GAS CHEMICAL COMPANY, INC. 38