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Presentation Materials for the First Three Months of the Fiscal Year Ending March 31 , 2027 August 6 , 2026 AMITSUBISHI MATERIALS
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Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.
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3Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Table of ContentsP.4Executive Summary1. P.6Results for the First Three Months of the Fiscal Year Ending March 31, 20272. P.10Forecast for the Fiscal Year Ending March 31, 20273. P.14References4.
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4Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. •In the automotive sector, demand for our copper and copper alloy products and cemented carbide products continued to recover, supported by solid demand in Southeast Asia and signs of improvement in Japan.•In the semiconductor sector, demand for our copper and copper alloy products and advanced products continued to improve, driven primarily by robust AI-related demand.•The yen remained weak and metal prices stayed at elevated levels. The full-year forecast assumptions for the U.S. dollar exchange rate and copper and tungsten prices were revised.•The timing of the business integration related to the purchase of copper concentrate and the sales of copper cathode and related products was changed to February 1, 2027, in light of the anticipated timeline for the completion of antitrust reviews.*1 The financial impact is already reflected in the forecast.*1 August 6, 2026 (Update to Previously Disclosed Matters) Notice Concerning Execution of Final Agreement Regarding the Integration of Businesses for the Purchase of Copper Concentrates and the Sales of Related Products through a Company Split (Simplified Absorption-Type Company Split) Executive Summary (1/2) Announcem-ents Business Environment/Forecast AssumptionsAccelerating initiatives to drive full-scale earnings contributions from the Resource Circulation Business• Optimizing the product portfolio in the Copper & Copper Alloy Products Business*2• Decided to invest in expanding H.C. Starck’s tungsten recycling capacity*3• Securing funding for growth investments while minimizing financing costs through the issuance of conversion-restricted convertible bonds*4*2 June 12, 2026 Discontinuation of Manufacturing and Sale of Bar Products and ECO BRASS Forged Products in the Copper & Copper Alloy Products BusinessJuly 14, 2026 New Copper Alloy MSP 5-SSH Developed Combining 1 GPa-Class Ultra-High Strength and High Electrical Conductivity*3 July 31, 2026 Investment to Expand Tungsten Recycling Capacity at H.C. Starck Tungsten GmbH *4 July 8, 2026 Notice of the Determination of Terms of Issue of Zero Coupon Convertible Bonds due 2030 and Zero Coupon Convertible Bonds due 2032
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5Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. The full-year forecast was revised upward to reflect earnings growth through the first quarter and revised assumptions for the U.S. dollar exchange rate and tungsten and copper prices. Record-high full-year earnings are expected.The dividend forecast remains unchanged, in light of the cash flow outlook and the Company’s shareholder return policy.*Net sales: ¥2,400.0 Bn (up ¥410.0 Bn vs. previous forecast)Operating profit: ¥130.0 Bn (up ¥94.0 Bn vs. previous forecast; up ¥82.3 Bn excl. inventory valuation impact)Ordinary profit: ¥180.0 Bn (up ¥107.0 Bn vs. previous forecast; up ¥91.6 Bn excl. inventory valuation impact)Net profit attributable to owners of parent: ¥140.0 Bn (up ¥91.0 Bn vs. previous forecast)Dividend forecast: ¥116 per share annually (unchanged vs. previous forecast)* DOE target: 2.5% (total annual dividends / shareholders’ equity as of the previous fiscal year-end) Executive Summary (2/2) FYE March2027Full-yearForecast FYE March2027Q1 ResultsHigher net sales and profits, driven by rising prices for metals, including tungsten, copper and gold, a weaker yen, and improving automotive and semiconductor demand. Record-high earnings for a first quarter.Net sales: ¥597.0 Bn (up ¥165.6 Bn YoY)Operating profit: ¥32.9 Bn (up ¥35.6 Bn YoY; up ¥27.3 Bn excl. inventory valuation impact)Ordinary profit: ¥51.9 Bn (up ¥52.0 Bn YoY; up ¥43.1 Bn excl. inventory valuation impact)Profit attributable to owners of parent: ¥51.2 Bn (up ¥55.3 Bn YoY)
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6Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. ChangeFYE March 2027 Q1ResultFYE March 2026 Q1Result+165.6597.0431.4Net sales+35.6(+27.3)32.9(29.7)-2.6(2.4)Operating profit(excluding inventory valuation impact)+10.112.52.4Dividend income+2.66.84.2Share of profit (loss) of entities accounted for using equity method+52.0(+43.1)51.9(48.5)-0.1(5.4)Ordinary profit(excluding inventory valuation impact)+12.911.6-1.3Extraordinary income (loss)+55.351.2-4.0Profit attributable to owners of parent ChangeFYE March 2027 Q1ResultFYE March 2026 Q1Result+15159145(¥/$)Dollar exchange rate +22185164(¥/€)Euro exchange rate+173604432(¢/lb)Copper price+1,2364,5163,280($/oz)Gold price+4231,414990($/oz)Palladium price+2,6593,069410($/MTU)APT* price(Tungsten) Higher net sales and profits driven by higher prices for tungsten, copper, gold, and other metals, a weaker yen, and improving demand in the automotive and semiconductor sectors.A ¥11.0 billion gain resulting from revisions to the retirement benefit plan was recorded as extraordinary income. *Ammonium paratungstate (APT): Tungsten intermediate (Billions of yen)FYE March 2027 Q1 Results (Consolidated Statement of Income)
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7Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.26年3月期1Q経常利益在庫評価影響除く26年3月期1Q経常利益為替差価格差(販売価格)価格差(コスト他)数量差その他(営業内)受取配当金持分法損益その他(営業外)27年3月期1Q経常利益27年3月期1Q経常利益在庫評価影響除くExchange rates: +6.9Metals: Inventory valuation impact: +4.4Operating profit/loss: +¥35.6 BnNon-operating profit/loss: +¥16.4 Bn (Billions of yen)Operating profit: Increased due to the release of low-cost tungsten inventories acquired before the surge in tungsten prices, favorable raw-material inventory valuation effects in the Metals Business and Copper & Copper Alloy Products Business, and higher sales of cemented carbide products amid solid demand. As planned, lower TC/RC were offset by revised copper premiums.Ordinary profit: Increased due to higher operating profit, increased dividends from investee copper mines reflecting higher copper prices and a weaker yen, higher equity-method earnings, and foreign exchange gains on foreign currency-denominated receivables and payables. Underlying profit improvement excluding inventory valuation impact: +¥43.1 Bn Price difference (selling price): +43.4Tungsten: +33.7Metals: Copper cathode premium: +2.5Metalworking Solutions: Price optimization: +2.7Price difference (cost, etc.): -23.9Tungsten: Impact of rising raw material prices: -26.1Copper & Copper Alloy Products: Inventory valuation impact: +3.8Metalworking Solutions: Impact of rising raw material prices: -1.9Volume difference +3.4Metalworking Solutions: +2.9 △1 48.551.9Other (operating) +5.7TC/RC deterioration: -2.1Material composition difference: +2.9Loss on valuation of inventories: +1.7Equity-methodEarningsPrices(selling price)Other(operating)DividendIncomeOther(non-operating)Prices(cost, etc.)VolumeExchangeRatesFYE Mar. 2026Q1 Ordinary Profit(excl. inventory valuation impact)FYE Mar. 2026Q1 Ordinary ProfitFYE Mar. 2027 Q1 Ordinary Profit+6.9+43.4-23.9+3.4+5.7+10.1+2.6+3.65.4-0.1 FYE March 2027 Q1 Results (Breakdown of Factors Affecting Profit Changes) FYE Mar. 2027Q1 Ordinary Profit(excl. inventory valuation impact)
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8Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. FYE March 2027 Q1 Results: Breakdown of Factors Affecting Profit by Segment FactorsChangeFYE March2027 Q1ResultFYE March2026 Q1ResultNon-operating profit/lossOperating profit/lossOtherEquity-methodearningsDividendincomeOtherVolumedifferencePrice difference(cost, etc.)Price difference(selling price)Exchangerate difference+2.0+0.9+0.0+6.9-1.0-21.6+40.2+5.3+32.726.0-6.6Materials Business Area+1.8+0.9+0.0+9.6-1.6-25.9+39.6+5.0+29.622.2-7.4Metals/Resources Circulation+0.1―+0.0+0.7+0.5+4.2+0.6+0.2+6.55.8-0.6Copper & Copper Alloy Products+0.0+0.3-0.0+0.9+4.5-2.2+3.1+1.6+8.412.03.5Products Business Area+0.0―-0.0+0.1+2.9-1.9+2.7+1.5+5.48.53.1Metalworking Solutions+0.0+0.3-0.0+0.7+1.6-0.2+0.3+0.1+3.03.40.4Advanced Products+1.3+0.6+10.1+0.0――――+12.014.01.9Mineral Resources+0.3+0.1+0.0+0.0+0.3+0.0+0.0―+0.91.00.1Renewable Energy+0.0+0.5+0.0-2.2-0.3+0.0+0.0+0.0-2.1-1.30.8Other*2 +3.6+2.6+10.1+5.7+3.4-23.9+43.4+6.9+52.051.9-0.1Total (ordinary profit) *2 Other businesses and consolidation adjustments Metals/Resources Circulation (price): Impact of low-cost inventory consumption prior to the surge in tungsten prices +7.6*1Metals/Resources Circulation (exchange rate): Inventory valuation impact on raw materials resulting from a weaker yen +4.4Copper & Copper Alloy Products (costs, etc.): Inventory valuation impact on raw materials resulting from higher copper prices +3.8Metalworking Solutions (volume): Higher sales volumes reflecting favorable market conditions +2.9 *1 Effect of the spread between selling prices and raw material costs (See page 7) (Billions of yen)
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9Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.End of March 26 End of June 26 0.72 0.71 (Billions of yen)Total assets: Decreased primarily due to a decline in leased gold bullion resulting from lower metal prices.Net D/E ratio: Remained broadly unchanged from the previous fiscal year-end, reflecting continued financial discipline.Equity ratio: 26.4% (42.1% excluding deposited gold bullion)2,999.72,940.1 End of March 26 End of June 26 2,999.72,940.1 As of March 26 As of June 26 Consolidated Financial Position (FYE March 2027 Q1) Non-current assets, etc.Non-current assets, etc.Current assetsCurrent assets2,025.7934.7914.4Net assetsNet assetsCurrent liabilitiesCurrent liabilities1,871.92,064.9Share-holders’ equityNet interest-bearing debtNet interest-bearing debt775.3736.1Share-holders’ equity-547.8-529.0374.7Non-current liabilitiesNon-current liabilities368.71,778.4752.9 792.9End ofMarch 2026End ofJune 2026End ofMarch 2026End ofMarch 2026End ofJune 2026End ofJune 2026 Net D/E ratioTotal assetsTotal liabilities and net assets
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10Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. FYE March 2027 Forecast: Overview of Consolidated Financial ResultsChangeCurrentFull-yearForecast(Aug. 6)PreviousFull-yearForecast(May 13)+410.02,400.01,990.0Net sales+94.0(+82.3)130.0(126.5)36.0(44.2)Operating profit(excluding inventory valuation impact)+6.837.330.4Dividend income+3.530.026.5Share of profit (loss) of entities accounted for using equity method+107.0(+91.6)180.0(176.4)73.0(84.8)Ordinary profit(excluding inventory valuation impact)+1.93.92.0Extraordinary income (loss)+91.0140.049.0Profit attributable to owners of parent+7.013.76.7(%)ROIC*1+11.718.56.8(%)ROE ImpactAfter Q2 Sensitivity*20.47Operating profit ±1 ¥/$Dollar exchange rate 0.12Operating profit ±1 ¥/€Euro exchange rate 0.37(a) Operating profit ±10 ¢/lbCopper price 1.27(b) Non-operating income ±10 ¢/lb1.64(a+b) Ordinary profit ±10 ¢/lb ChangeCurrentFull-yearForecast(Aug. 6)PreviousFull-yearForecast (May 13)+8158150(¥/$)Dollar exchange rate+1181180(¥/€)Euro exchange rate+79579500(¢/lb)Copper price+1294,1294,000($/oz)Gold price+781,1781,100($/oz)Palladiumprice+2,1623,017855($/MTU)APT Price(Tungsten) Full-year earnings forecast revised upward, primarily reflecting higher tungsten prices, following revisions to the assumptions for the U.S. dollar exchange rate and copper and tungsten prices for Q2 onward.(Billions of yen) *1((ordinary profit + net interest expense －equity-method earnings) ×(1 －effective tax rate) + equity-method earnings) ÷invested capital*2Sensitivity does not include the impact of inventory valuation
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11Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.+ 107+ 1,666△794+ 30△70+ 68+ 34+ 26848730 1,8001,764前回5/13通期予想在庫評価影響除く前回5/13通期予想為替差価格差(販売価格)価格差(コスト他)数量差その他(営業内)受取配当金持分法損益その他(営業外)今回8/6通期予想今回8/6通期予想在庫評価影響除く Operating profit: Expected to increase, reflecting Q1 results, the release of low-cost tungsten inventories acquired before the surge in tungsten prices following the revision of assumptions, and favorable copper inventory valuation effects. (The benefit from the release of low-cost tungsten inventories is expected to diminish from Q4 onward.)Ordinary profit: Expected to increase due to higher operating profit, dividend income and equity-method earnings, with the latter two benefiting from higher copper prices and a weaker yen.Price difference (selling price): +166.6Tungsten: Price increase: +159.5Dividend income: +6.8Mine dividends: +6.1 Underlying profit improvement excluding inventory valuation impact: +¥91.6 Bn Price difference (cost, etc.): -79.4Tungsten: Impact of rising raw material prices: -84.8Copper & Copper Alloy Products: Inventory valuation impact: +6.6Exchange rates: +10.7Metals: Inventory valuation impact: +5.0Equity-methodEarningsPrices(selling price)Other(operating)DividendIncomeOther(non-operating)Prices(cost, etc.)VolumeExchangeRatesPreviousOrdinary Profit Forecast (May 13)(excl. inventory valuation impact)PreviousOrdinary Profit Forecast (May 13)CurrentOrdinary ProfitForecast (Aug.6)(excl. inventory valuation impact)CurrentOrdinary ProfitForecast(Aug. 6)+2.6Operating profit/loss: +¥94.0 BnNon-operating profit/loss: +¥13.0 Bn84.873.0+10.7+166.6+3.0-7.0180.0 FYE March 2027 Forecast (Breakdown of Profit Changes vs. Previous Forecast (May 13)) 176.4-79.4+3.4+6.8(Billions of yen)
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12Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. FactorsChangeCurrentFull-yearForecast(Aug. 6)PreviousFull-yearForecast (May 13)Non-operating profit/lossOperating profit/lossOtherEquity-methodearningsDividendincomeOtherVolumedifferencePrice difference(cost, etc.)Price difference(selling price)Exchangerate difference+0.3-0.4+0.0-1.0-1.1-78.0+164.8+9.0+93.4115.021.5Materials Business Area-0.0-0.4+0.0+0.1-1.0-84.8+164.3+9.0+87.0108.421.3Metals/Resources Circulation+0.4―+0.0+0.6-0.1+6.8+0.4+0.0+8.39.00.7Copper & Copper Alloy Products+0.3+0.4+0.0+2.1+3.2-1.3+1.8+1.6+8.326.618.2Products Business Area+0.1―+0.0+1.5+2.5-0.8+1.0+1.1+5.618.512.9Metalworking Solutions+0.2+0.4+0.0+0.5+0.6-0.4+0.7+0.4+2.78.05.3Advanced Products+1.0+4.7+6.1+0.0――――+12.045.833.7Mineral Resources+0.0+0.0+0.0+0.0+0.0+0.0+0.0―+0.11.51.4Renewable Energy+0.8-1.3+0.7-8.1+0.9+0.0+0.0+0.0-7.0-9.0-2.0Other*2 +2.6+3.4+6.8-7.0+3.0-79.4+166.6+10.7+107.0180.073.0Total (ordinary profit) *2 Other businesses and consolidation adjustments Metals/Resources Circulation (price): Impact of higher tungsten prices +74.7*1Copper & Copper Alloy Products (costs, etc.): Inventory valuation effects on raw materials resulting from revised copper price assumptions +6.6Mineral Resources (dividend income): Revision of mine dividend forecasts reflecting higher copper prices and a weaker yen +6.1 *1 Effect of the spread between selling prices and raw material costs (See page 11) (Billions of yen)FYE March 2027 Forecast (Overview of Profit by Segment)
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13Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved.△1,07010204601,070490前回5/13通期予想経常利益運転資本その他投資CF今回8/6通期予想 Working capital: -107.0Metals/Resources Circulation: -41.0(including Tungsten: -35.0)Copper & Copper Alloy Products: -16.0Metalworking Solutions: -50.0Operating CF +¥1.0 Bn*FCF= Free Cash FlowFCF* FCF* FCF* is expected to increase only marginally, as cash inflows from higher earnings are largely offset by an increase in working capital due to rising metal prices.(Billions of yen)Cash Flows (FYE March 2027 Full-year Forecast) 46.049.0+107.0-107.0+1.0+2.0Previous Full-year Forecast (May 13)Current Full-year Forecast (Aug. 6)Ordinary ProfitWorking CapitalOtherInvesting Cash Flow
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14 References
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15Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. ChangeFYE March 2027 Q1 ResultFYE March 2026 Q1 Result+139.9448.5308.6¥bnNet sales+26.8(+22.3)20.5(20.5)-6.2(-1.8)¥bnOperating profit(excluding inventory valuation impact)+29.6(+24.6)22.2(22.1)-7.4(-2.4)¥bnOrdinary profit(excluding inventory valuation impact)Q1 ResultsProfit increased, supported by the release of low-cost inventories acquired before the surge in tungsten prices and inventory valuation impact of a weaker yen.ChangeCurrent Full-year Forecast (Aug. 6)Previous Full-year Forecast (May 13)+388.31,817.21,428.8+87.5(+82.5)110.2(108.5)22.7(26.0)+87.0(+78.4)108.4(106.6)21.3(28.2)-7.4Q1 Ordinary Profit (FYE March 2026)+5.0Exchange rate difference+39.6Price difference (selling price)-25.9Price difference (cost, etc.)-1.6Volume difference+9.6Other (operating)+0.0Dividend income+0.9Share of profit (loss) of entities accounted for using equity method+1.8Other (non-operating)22.2Q1 Ordinary Profit (FYE March 2027) Segment Overview (Metals/Resources Circulation) 21.3Previous Full-year Ordinary Profit Forecast (May 13)+9.0Exchange rate difference+164.3Price difference (selling price)-84.8Price difference (cost, etc.)-1.0Volume difference+0.1Other (operating)+0.0Dividend income-0.4Share of profit (loss) of entities accounted for using equity method-0.0Other (non-operating)108.4Current Full-year Ordinary Profit Forecast (Aug. 6) Full-year ForecastProfit is expected to increase, driven by the release of low-cost inventories acquired before the surge in tungsten prices and inventory valuation impact following revised metal price and foreign exchange assumptions.
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16Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. ChangeFYE March 2027 Q1 ResultFYE March 2026 Q1 Result+37.8114.776.8¥bnNet sales+6.4(+2.5)5.9(2.6)-0.4(0.1)¥bnOperating profit(excluding inventory valuation impact)+6.5(+2.6)5.8(2.6)-0.6(-0.0)¥bnOrdinary profit(excluding inventory valuation impact)Q1 ResultsProfit increased due to inventory valuation impact from higher copper prices.ChangeCurrent Full-year Forecast (Aug. 6)Previous Full-year Forecast (May 13)+67.5455.4387.9+7.9(+1.2)10.7(8.9)2.8(7.7)+8.3(+1.6)9.0(7.3)0.7(5.6)-0.6Q1 Ordinary Profit (FYE March 2026)+0.2Exchange rate difference+0.6Price difference (selling price)+4.2Price difference (cost, etc.)+0.5Volume difference+0.7Other (operating)+0.0Dividend incomeーShare of profit (loss) of entities accounted for using equity method+0.1Other (non-operating)5.8Q1 Ordinary Profit (FYE March 2027) Segment Overview (Copper & Copper Alloy Products) 0.7Previous Full-year Ordinary Profit Forecast (May 13)+0.0Exchange rate difference+0.4Price difference (selling price)+6.8Price difference (cost, etc.)-0.1Volume difference+0.6Other (operating)+0.0Dividend incomeーShare of profit (loss) of entities accounted for using equity method+0.4Other (non-operating)9.0Current Full-year Ordinary Profit Forecast (Aug. 6) Full-year ForecastProfit is expected to increase due to inventory valuation impact from revised copper price assumptions.
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17Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. ChangeFYE March 2027 Q1 ResultFYE March 2026 Q1 Result+11.145.434.2¥bnNet sales+5.48.63.2¥bnOperating profit+5.48.53.1¥bnOrdinary profitQ1 ResultsProfit increased due to higher sales volumes driven by a favorable business environment.ChangeCurrent Full-year Forecast (Aug. 6)Previous Full-year Forecast (May 13)+8.3166.2157.8+5.518.913.4+5.618.512.93.1Q1 Ordinary Profit (FYE March 2026)+1.5Exchange rate difference+2.7Price difference (selling price)-1.9Price difference (cost, etc.)+2.9Volume difference+0.1Other (operating)-0.0Dividend incomeーShare of profit (loss) of entities accounted for using equity method+0.0Other (non-operating)8.5Q1 Ordinary Profit (FYE March 2027)12.9Previous Full-year Ordinary Profit Forecast (May 13)+1.1Exchange rate difference+1.0Price difference (selling price)-0.8Price difference (cost, etc.)+2.5Volume difference+1.5Other (operating)+0.0Dividend incomeーShare of profit (loss) of entities accounted for using equity method+0.1Other (non-operating)18.5Current Full-year Ordinary Profit Forecast (Aug. 6) Full-year ForecastProfit is expected to increase due to higher sales volumes, reflecting the favorable business environment in Q1.Segment Overview (Metalworking Solutions)
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18Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. ChangeFYE March 2027 Q1 ResultFYE March 2026 Q1 Result+17.272.054.8¥bnNet sales+2.63.20.5¥bnOperating profit+3.03.40.4¥bnOrdinary profitQ1 ResultsProfit increased primarily due to higher sales volumes of seal products.ChangeCurrent Full-year Forecast (Aug. 6)Previous Full-year Forecast (May 13)+25.8284.7258.8+1.99.37.3+2.78.05.30.4Q1 Ordinary Profit (FYE March 2026)+0.1Exchange rate difference+0.3Price difference (selling price)-0.2Price difference (cost, etc.)+1.6Volume difference+0.7Other (operating)-0.0Dividend income+0.3Share of profit (loss) of entities accounted for using equity method+0.0Other (non-operating)3.4Q1 Ordinary Profit (FYE March 2027)5.3Previous Full-year Ordinary Profit Forecast (May 13)+0.4Exchange rate difference+0.7Price difference (selling price)-0.4Price difference (cost, etc.)+0.6Volume difference+0.5Other (operating)+0.0Dividend income+0.4Share of profit (loss) of entities accounted for using equity method+0.2Other (non-operating)8.0Current Full-year Ordinary Profit Forecast (Aug. 6) Full-year ForecastProfit is expected to increase due to higher sales volumes of products for AI and semiconductor applications.Segment Overview (Advanced Products)
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19Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. FYE March 2027 Q1 ResultFYE March 2026 Q1 Result92.785.7Domestic businessNet sales45.445.0Overseas business138.2130.7Total5.52.1Domestic BusinessOperating profit5.88.8Overseas business11.410.9Total12.112.0Ordinary profit6.96.4Profit attributable to owners of parent3.22.9Share of profit (loss) of entities accounted for using equity method FYE March 2027 Q1 ResultFYE March 2026 Q1 Result7.217.64(Mt)Cement demand in Japan1.731.87(Mt)Cement sales in Japan 0.350.42(M st)Cement sales in the U.S.1.421.64(M cy)Ready-mixed concrete sales in the U.S.136100($/t)Thermal coal price159145(¥/$)Foreign exchange rate*The thermal coal price above differs from the actual procurement price.FYE March 2027 Q1•Domestic business:Net sales and operating profit increased year-on-year. Although cement sales volume declined due to lower domestic demand caused by labor shortages at construction sites and prolonged construction periods, sales prices exceeded the previous year's level following the penetration of price increases implemented in the previous fiscal year. In addition, increased sales volume and lower costs in the environmental and energy business, reflecting a rebound from periodic maintenance of power generation facilities and equipment troubles in the previous fiscal year, contributed to the increase.•Overseas business: Net sales increased year-on-year due to the impact of a weaker yen, despite lower sales volumes resulting from continued sluggish private-sector demand amid persistently high interest rates in the US. Operating profit decreased year-on-year, mainly due to higher fuel and transportation costs.(Billions of yen)(Reference) Consolidated balance sheet as of June 30, 2026311.3Shareholders’equity233.4Interest-bearing liabilities822.2Total assets0.51Net D/E ratio37.9%Shareholders’equity ratio Overview of Mitsubishi UBE Cement Corporation (MUCC)Key Metrics of MUCCMUCC Consolidated Profit and Loss Statement(Bn of yen) Equity-method Earnings – Mitsubishi Materials
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20Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Quarterly Results by SegmentFYE March 2027FYE March 2026Q1Full-yearH2Q4Q3H1Q2Q1 472.11,427.0795.4439.6355.7631.5299.5332.0Net salesMaterials Business Area24.446.140.428.711.65.711.0-5.2Operating profit26.044.840.728.112.54.110.7-6.6Ordinary profit448.51,329.0740.8410.8329.9588.1279.5308.6Net salesMetals/Resources Circulation20.529.927.021.15.92.99.1-6.2Operating profit22.229.627.720.86.81.99.3-7.4Ordinary profit114.7358.1202.5106.196.3155.578.776.8Net salesCopper & Copper Alloy Products5.915.214.58.75.70.71.1-0.4Operating profit5.814.214.18.45.60.10.8-0.6Ordinary profit117.5381.8203.2108.594.6178.589.489.1Net salesProducts Business Area11.819.812.77.15.57.13.33.7Operating profit12.020.613.47.26.27.23.63.5Ordinary profit45.4147.278.141.236.969.134.834.2Net salesMetalworking Solutions8.614.28.74.83.85.52.33.2Operating profit8.515.19.25.14.15.82.73.1Ordinary profit72.0234.5125.067.357.7109.454.554.8Net salesAdvanced Products3.25.54.02.21.71.51.00.5Operating profit3.45.54.12.02.01.30.90.4Ordinary profit0.00.00.00.00.00.00.00.0Net salesMineral Resources-0.7-3.0-1.4-0.7-0.7-1.5-0.8-0.7Operating profit14.028.625.32.722.53.31.31.9Ordinary profit2.16.23.91.92.02.20.81.3Net salesRenewable Energy0.81.00.80.30.50.1-0.20.3Operating profit1.00.81.61.20.3-0.8-0.90.1Ordinary profit5.229.011.59.32.117.58.68.8Net salesOther*-3.4-3.5-2.9-2.4-0.5-0.50.2-0.7Operating profit-1.32.5-0.2-3.02.72.81.90.8Ordinary profit597.01,844.01,014.1559.5454.5829.9398.5431.4Net salesTotal32.960.549.533.116.410.913.5-2.6Operating profit51.997.580.836.344.416.716.8-0.1Ordinary profit*Other businesses and consolidation adjustments （Billions of yen）
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21Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Breakdown by SegmentChange(b-a)Current Full-year Forecast (Aug. 6) (b)Previous Full-year Forecast (May 13) (a)Ordinary profitOperating profitNet salesOrdinary profitOperating profitNet salesOrdinary profitOperating profitNet sales+93.4+93.5+392.7115.0118.51,942.621.525.01,549.8Materials Business Area+87.0+87.5+388.3108.4110.21,817.221.322.71,428.8Metals/Resources Circulation+8.3+7.9+67.59.010.7455.40.72.8387.9Copper & Copper Alloy Products+8.3+7.5+34.226.628.2450.918.220.7416.7Products Business Area+5.6+5.5+8.318.518.9166.212.913.4157.8Metalworking Solutions+2.7+1.9+25.88.09.3284.75.37.3258.8Advanced Products+12.0+0.0ー45.8-3.4ー33.7-3.4ーMineral Resources+0.1+0.0+0.01.51.67.91.41.57.8Renewable Energy-7.0-7.1-17.0-9.0-15.0-1.6-2.0-7.915.3Other*+107.0+94.0+410.0180.0130.02,400.073.036.01,990.0Total （Billions of yen） *Other businesses and consolidation adjustments
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22Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Key Metrics (1/2) FYE March 2027FYE March 2026 Full-yearForecastQ1Full-yearH2Q4Q3H1Q2Q1 158159151156157154146147145¥/$Dollar exchange rate181185175182184179168172164¥/€Euro exchange rate579604491543583504438444432¢/lbCopper price (LME)4,1294,5163,9394,5114,8774,1453,3673,4543,280$/ozGold price1,1781,4141,3361,5921,7151,4691,0811,171990$/ozPalladium price3,0173,0698541,2431,758728465520410$/MTUAPT price (Tungsten) Production and Sales of Major Products Metal Prices and Exchange RatesFYE March 2027FYE March 2026 Full-yearForecastQ1Full-yearH2Q4Q3H1Q2Q1 30880355174878618110181ktproductionCopper cathode2787133316785831668977ktsales13316844844tproductionGold 12316844844tsales1965021711557581025349tproductionSilver1964821711560551025547tsales13031127663234623131ktsalesWrought copper products
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23Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Key Metrics (2/2) FYE March 2027FYE March 2026 Mitsubishi Materials’EquityFull-year ForecastQ1Full-yearH2Q4Q3H1Q2Q1 11.10.84.73.91.82.10.70.30.330%Mantoverde S.A.18.85.916.48.03.04.98.34.53.8—Other30.06.821.212.04.97.19.14.94.2Total FYE March 2027FYE March 2026 Full-year ForecastQ1Full-yearH2Q4Q3H1Q2Q1 30.29.518.318.30.218.1－－－¥bnLos Pelambres6.02.84.62.30.41.92.2－2.2¥bnEscondida36.312.322.920.70.620.02.2－2.2¥bnTotal mine dividendsDividends from Mining InterestsEquity-method Earnings(Billions of yen)
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24Copyright ©MITSUBISHI MATERIALS Corporation.All rights reserved. Impact of Raw Material Inventory ValuationFYE March 2027FYE March 2026 Full-year ForecastQ1Full-yearH2Q4Q3H1Q2Q1 110.220.529.927.021.15.92.99.1-6.2Operating profitMetals/ Resources Circulation+1.6-0.0-4.2+1.2+0.1+1.0-5.4-1.0-4.4Inventory valuation impact108.520.534.125.720.94.88.410.2-1.8Operating profit excluding inventory valuation impact108.422.229.627.720.86.81.99.3-7.4Ordinary profit+1.7+0.0-3.8+2.0+0.4+1.5-5.8-0.8-4.9Inventory valuation impact106.622.133.425.620.35.27.710.1-2.4Ordinary profit excluding inventory valuation impact10.75.915.214.58.75.70.71.1-0.4Operating profitCopper &Copper Alloy Products+1.7+3.2+9.0+8.8+2.7+6.0+0.2+0.8-0.6Inventory valuation impact8.92.66.25.65.9-0.30.50.30.1Operating profit excluding inventory valuation impact9.05.814.214.18.45.60.10.8-0.6Ordinary profit+1.7+3.2+9.0+8.8+2.7+6.0+0.2+0.8-0.6Inventory valuation impact7.32.65.25.35.6-0.30.00.00.0Ordinary profit excluding inventory valuation impact130.032.960.549.533.116.410.913.5-2.6Operating profitTotal for the Entire Company+3.4+3.2+4.7+10.0+2.9+7.1-5.2-0.2-5.0Inventory valuation impact126.529.755.739.430.19.316.213.82.4Operating profit excluding inventory valuation impact180.051.997.580.836.344.416.716.8-0.1Ordinary profit+3.5+3.3+5.2+10.8+3.2+7.5-5.6-0.0-5.5Inventory valuation impact176.448.592.370.033.136.822.316.85.4Ordinary profit excluding inventory valuation impact (Billions of yen)
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For more information, please contact:Mitsubishi Materials CorporationInvestor Relations Dept.Marunouchi Nijubashi Building, 3-2-3, Marunouchi, Chiyoda-ku, Tokyo 100-8117, Japanml-mmcir@mmc.co.jphttps://www.mmc.co.jp/corporate/en/<IR News Service>To subscribe to our email distribution service for the latest timely disclosures and investor relations updates, please complete your registration via the following: https://ir.mmc.co.jp/en/ir/irmail.html＜Disclaimer＞The projections contained in this document are based on the information available to MMC’s management as of the date of its release. Actual business performance may be significantly different from the expected performance described in this document, due to a variety of risk factors and uncertainties. Unauthorized reproduction of the text, images, diagrams and other contents of this document is prohibited.