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© Marubeni Corporation All Right s Reserved. Disclaimer Regarding Forward Looking Statements and Original Language This material contains forward-looking statements about the future performance, events or management plans of Marubeni Corporation and its Group companies (the Company) based on the available information, certain assumptions and expectations at the point of disclosure, of which many are beyond the Company’s control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, economic and financial conditions, factors that may affect the level of demand and financial performance of the major industries and customers we serve, interest rates and currency fluctuations, availability and cost of funding, fluctuations in commodity and materials prices, political turmoil in certain countries and regions, litigation claims, changes in laws, regulations and tax rules, and other factors. Actual results, performances and achievements may differ materially from those described explicitly or implicitly in the relevant forward-looking statements. The Company has no responsibility for any possible damages arising from the use of information on this material, nor does the Company have any obligation to update these statements, information, future events or otherwise. This material is an English language translation of the materials originally written in Japanese. In case of discrepancies, the Japanese version is authoritative and universally valid. 1 Q2 FYE 3/2026 Consolidated Financial Results November 4, 2025 TSE Code: 8002 2025.09
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© Marubeni Corporation All Right s Reserved. (billion yen) Q1-Q2 FYE 3/2025 Q1-Q2 FYE 3/2026 Change Progress Net profit 238.1 305.5 +67.4 60% Adjusted net profit 224.0 220.0 -4.0 48% Non-resources 158.0 163.0 +5.0 49% Resources 62.0 51.0 -11.0 43% Core operating cash flow +305.9 +240.4 -65.6 44% USD/JPY Term Average 152.63 146.04 -6.59 ー Net profit: ¥305.5bn (+¥67.4bn YOY) Adjusted net profit: ¥220.0bn (-¥4.0bn YOY) Breakdown of adjusted net profit: Non-resources ¥163.0bn (+¥5.0bn YOY) Increased in Finance, Leasing & Real Estate Business, Food & Agri Business, and others Resources ¥51.0bn (-¥11.0bn YOY) Decreased in the steelmaking coal business, the iron ore project, and others, due to lower commodity prices Core operating cash flow: +¥240.4bn (-¥65.6bn YOY) due to reduced dividends from equity-method affiliates, and others *1 01 Results for Q1-Q2 FYE 3/2026 • Adjusted net profit: net profit excluding one-time items, shown in an approximate figure. For one-time items, please refer to P7. • Core operating cash flow: operating cash flow excluding changes in working capital and others *1 Progress ratios represent progress against the initial full-year forecast announced on May-2-2025 *1 *1 1
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© Marubeni Corporation All Right s Reserved. 02 Full-year Forecast for FYE 3/2026 May-2-2025 Nov-4-2025 Net profit 510.0 510.0 ± 0.0 Adjusted net profit 460.0 460.0 ± 0.0 Non-resources 336.0 336.0 ± 0.0 Resources 118.0 122.0 +4.0 Core operating cash flow +550.0 +550.0 ± 0.0 2,000.0 Three-year cumulative ROE around 14% around 14% － 15% Annual dividend per share 100 yen (forecast) interim 50 yen, year-end 50 yen 100 yen (forecast) interim 50 yen, year-end 50 yen － Share buyback 40.0bn yen 40.0bn yen － （billion yen） Change GC2027 Target (announced on Feb-2025) FYE 3/2026 Forecast announced on Consolidated net profit over 620.0 Total payout ratio around 40% Full-year forecasts for net profit, adjusted net profit, and core operating cash flow remain unchanged as initially announced on May-2-2025 Net profit forecast includes a -¥30.0bn cushion for contingencies Breakdown of adjusted net profit: Non-resources ¥336.0bn (unchanged) Increases in Finance, Leasing & Real Estate Business, and others Decreases in Energy & Chemicals, and others Resources ¥122.0bn (+¥4.0bn upward revision) Increases in copper business and others, due to higher commodity prices Annual dividend is forecasted to be ¥100 per share, unchanged as initially announced on May-2-2025 2
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© Marubeni Corporation All Right s Reserved. • USD -4.0 • AUD -1.0 *1 *1 Including decreases in profit and loss from divested assets, and others *2 Profit contribution from GC2024 investments in FYE 3/2025 results is approx. ¥20.0bn 【Asset replacement gain/loss】 ¥71.0bn 【Other one-time items】 ¥15.0bn • Steelmaking coal -10.0 • Iron ore -4.0 • Food marketing and manufacturing business • Aviation aftermarket and asset trading business • Mobility business in North America (excl. Wheels business) • Fertilizer wholesale business in the U.S. • Copper business, etc. [－] [＋] • Wholesale and retail power trading business • Agri-inputs retail business(Helena) • IPP projects • Creekstone, etc. • Wheels business • IPP projects • Natural resources investments, etc. [＋] 03 Adjusted Net Profit for Q1-Q2 FYE 3/2026 (factors of YOY change) -18.0bn -6.0bn +11.0bn +9.0bn 305.5bn One-time factor approx. +86.0bn Net profitAdjusted net profit （billion yen) USD/JPY Term Average: 152.63 yen AUD/JPY Term Average: 101.37 yen Q1-Q2 FYE 3/2026 ActualQ1-Q2 FYE 3/2025 Actual 224.0bn Improving existing businesses Growth investments （GC2024 Investments*2 ・GC2027 New Investments） FX impact Commodity price impact USD/JPY Term Average: 146.04 yen AUD/JPY Term Average: 94.52 yen 220.0bn Improving existing businesses (+11.0) Growth investments (+9.0) Decrease by -¥24.0bn YOY due to FX and commodity price impacts Increase by +¥20.0bn YOY due to the improvement of existing businesses and profit contributions from the growth investments 3
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© Marubeni Corporation All Right s Reserved. 172.0 178.0 296.0 321.0 307.0 323.0 336.0 158.0 163.0 61.0 66.0 197.0 199.0 152.0 130.0 122.0 62.0 51.0 363.8 369.6 570.5 584.2 548.0 606.6 550.0 305.9 240.4 0 100 200 300 400 500 600 FYE 3/2020 FYE 3/2021 FYE 3/2022 FYE 3/2023 FYE 3/2024 FYE 3/2025 FYE 3/2026 Q1-Q2 … Q1-Q2 … Adjusted net profit (Non-resources) Adjusted net profit (Resources) Core operating cash flow （billion yen） 224.0 220.0 Q1-Q2 FYE 3/2026 Forecast (announced on Nov-4-2025) 04 Adjusted Net Profit and Core Operating Cash Flow Strengthening existing business domains Enhancing cash generation / Establishing an annual earnings base of over ¥450.0bn 489.0 526.0 467.0 451.0243.0225.0 460.0 Adjusted net profit （Consolidated） ・ From FYE 3/2026, the business field grouping has been changed as follows: Resources: Total of “Metals & Mineral Resources” and “Energy & Chemicals” excluding “Steel Products Dept.” and “Chemicals Dept.-I, II, III” Non-resources: Consolidated total excluding “Resources” and “Other” (the latter is not shown in the graph) FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 4
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© Marubeni Corporation All Right s Reserved. ・ Based on the FYE 3/2026 segments. Operating segment information for FYE 3/2025 has been restated due to organizational changes. ・ Net profit by business field is as follows: (Q1-Q2 FYE 3/2025) Non-resources ¥174.6bn, Resources ¥61.6bn, (Q1-Q2 FYE 3/2026) Non-resources ¥271.3bn, Resources ¥40.3bn 05 Profit by Segment (Q1-Q2 FYE 3/2026) Net profit Q1-Q2 FYE 3/2025 Actual Net profit Q1-Q2 FYE 3/2026 Actual Change Change Main factors Lifestyle 14.7 11.1 -3.5 -2.0 [－] MUSI pulp project Food & Agri Business 34.9 41.3 +6.4 +6.0 [＋] Food marketing and manufacturing business (instant coffee), Fertilizer wholesale business in the U.S., Wellfam Foods [－] Helena, Creekstone Metals & Mineral Resources 59.6 52.2 -7.4 -8.0 [－] Steelmaking coal business, Iron ore project [＋] Copper business Energy & Chemicals 23.2 4.2 -18.9 -9.0 [－] Chemical-related business, Oil & Gas E&P Power & Infrastructure Services 36.0 36.8 +0.8 -4.0 [－] Wholesale and retail power trading business, IPP projects Finance, Leasing & Real Estate Business 40.7 125.7 +85.1 +8.0 [＋] Mobility business in North America (Nowlake, Wheels) Aerospace & Mobility 26.0 24.0 -2.0 ±0.0 IT Solutions 0.5 2.7 +2.2 +1.0 [＋] IT/Digital solutions business Next Generation Business Development 1.4 14.1 +12.7 +2.0 [＋] Industrial solution related business, Pharmaceutical sales business Next Generation Corporate Development -0.7 -0.6 +0.1 ±0.0 Other 1.9 -6.1 -8.1 +2.0 [＋] Improvement in expenses Consolidated 238.1 305.5 +67.4 -4.0 Operating segment （billion yen） Adjusted Net Profit Consolidated: Q1-Q2 FYE 3/2025 Actual 224.0bn Q1-Q2 FYE 3/2026 Actual 220.0bn upper: Q1-Q2 FYE 3/2025 Actual lower: Q1-Q2 FYE 3/2026 Actual 14.0 34.0 60.0 23.0 37.0 25.0 26.0 1.0 1.0 -1.0 4.0 12.0 40.0 52.0 14.0 33.0 33.0 26.0 2.0 3.0 -1.0 6.0 5
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© Marubeni Corporation All Right s Reserved. 06 Profit Forecast by Segment for FYE 3/2026 ・ Net profit by business field is as follows:（announced on May-2-2025）Non-resources ¥344.0bn, Resources ¥117.0bn,（announced on Nov-4-2025）Non-resources ¥439.0bn, Resources ¥112.0bn Net profit announced on May-2-2025 Net profit announced on Nov-4-2025 Change Change Main factors (Reference) FYE 3/2025 Adjusted Net Profit Lifestyle 34.0 30.0 -4.0 -3.0 [－] MUSI pulp project 26.0 Food & Agri Business 85.0 82.0 -3.0 -5.0 [－] Creekstone, Helena [＋] Wellfam Foods, Fertilizer wholesale business in the U.S. 71.0 Metals & Mineral Resources 113.0 113.0 ±0.0 -2.0 [－] Steelmaking coal business, Iron ore project [＋] Copper business 125.0 Energy & Chemicals 46.0 30.0 -16.0 -6.0 [－] Chemical-related business 42.0 Power & Infrastructure Services 64.0 70.0 +6.0 +4.0 [＋] IPP projects 75.0 Finance, Leasing & Real Estate Business 59.0 160.0 +101.0 +12.0 [＋] Mobility business in North America 56.0 Aerospace & Mobility 41.0 43.0 +2.0 +3.0 [＋] Aviation aftermarket and asset trading business 50.0 IT Solutions 4.0 6.0 +2.0 +1.0 [＋] IT/Digital solutions business 4.0 Next Generation Business Development 17.0 19.0 +2.0 ±0.0 3.0 Next Generation Corporate Development -2.0 -2.0 ±0.0 ±0.0 -2.0 Other 49.0 -41.0 -90.0 -4.0 [－] Miscellaneous 1.0 Consolidated 510.0 510.0 ±0.0 ±0.0 451.0 Operating segment （billion yen） Adjusted Net Profit Consolidated: announced on May-2-2025 460.0bn announced on Nov-4-2025 460.0bn upper: announced on May-2-2025 lower: announced on Nov-4-2025 32.0 85.0 115.0 46.0 64.0 55.0 47.0 4.0 8.0 -2.0 6.0 29.0 80.0 113.0 40.0 68.0 67.0 50.0 5.0 8.0 -2.0 2.0 6
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© Marubeni Corporation All Right s Reserved. 07 One-time Items by Segment ・ Because figures of one-time items by segment are rounded each quarter, the sum of the quarterly figures may not match the total for the period. Any rounding differences between the sum of segments and the company total are included in “Other” ・ Asset replacement gain/loss: one-time items from sales of subsidiaries, affiliated companies, fixed assets (including non-cash exchange transactions,) and others *1 Including a -¥30.0bn cushion for contingencies *1 FYE 3/2026 Q1 Q2 Q1-Q2 incl. one-time items Net profit forecast (announced on Nov-4-2025) Lifestyle -1.0 0.0 -1.0 1.0 30.0 Food & Agri Business 2.0 0.0 2.0 2.0 82.0 Metals & Mineral Resources 1.0 -1.0 0.0 0.0 113.0 Energy & Chemicals 0.0 -9.0 -10.0 -10.0 30.0 Power & Infrastructure Services 2.0 2.0 3.0 2.0 70.0 Finance, Leasing & Real Estate Business 12.0 81.0 93.0 93.0 160.0 Aerospace & Mobility 1.0 -2.0 -2.0 -7.0 43.0 IT Solutions 0.0 1.0 1.0 1.0 6.0 Next Generation Business Development 8.0 3.0 11.0 11.0 19.0 Next Generation Corporate Development 0.0 0.0 0.0 0.0 -2.0 Other 1.0 -15.0 -11.0 -43.0 -41.0 Consolidated 26.0 60.0 86.0 50.0 510.0 Operating segment (billion yen, approximate figure) FYE 3/2026 Main items (Breakdown: Asset replacement gain/loss 71.0 bn yen, Other one-time items 15.0 bn yen) [ - ] Impairment loss on property, plant and equipment for oil and gas E&P (approx. -11.0 bn yen) [＋] Valuation gain arising from the integration of domestic real estate business with Dai-ichi Life Holdings, Inc (approx. 76.0 bn yen) [＋] Gain on sale of the North American railcar leasing business (approx. 11.0 bn yen) [＋] Received cash settlement proceeds in respect of aircraft previously leased to Russian airlines in the Aircraft leasing business (approx. 5.0 bn yen) [＋] Gain from negative goodwill arising from the acquisition of the electronic components business (approx. 8.0 bn yen) [ - ] Interim adjustment to the estimated annual effective tax rate (approx. -14.0 bn yen) 7
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© Marubeni Corporation All Right s Reserved. Below are the results for Q1-Q2 FYE 3/2026 and full-year forecast for the major Strategic Platform Businesses Q1-Q2 FYE 3/2026 actual and full-year forecast Target under GC2027 08 Strategic Platform Businesses Net profit （billion yen） *1 ROIC= Net profit / Invested capital (term-end interest bearing debt-net + term-end shareholders’ equity) *1 Business Unit Q1-Q2 FYE 3/2025 Q1-Q2 FYE 3/2026 Change FYE 3/2025 Actual FYE 3/2026 Forecast (announced on Nov-4-2025) Change CAGR (FYE 3/25-3/26) FYE 3/2028 Target (announced on Feb-2025) FYE 3/2028 Target ROIC Agri-inputs Retail Business (Helena, etc.) Upper: JPY bn Lower: USD mil 22.2 145 18.8 129 -3.3 -16 43.5 285 41.0 287 -2.5 +2 -6% +1% 56.0 around 10％ Mobility Business in North America (Wheels, Nowlake etc.） Upper: JPY bn Lower: USD mil 16.7 110 21.8 149 +5.0 +40 35.2 231 43.0 301 +7.8 +70 +22% +30% 56.0 around 13％ Wholesale and Retail Power Trading Business (SmartestEnergy, etc.) Upper: JPY bn Lower: USD mil 9.9 65 7.7 53 -2.1 -12 27.3 179 22.0 154 -5.3 -25 -19% -14% 30.0 around 12％ Aviation Aftermarket and Asset Trading Business (Magellan, DASI, etc.) Upper: JPY bn Lower: USD mil 5.9 38 8.6 59 +2.8 +21 12.6 82 17.0 119 +4.4 +36 +35% +44% 19.0 around 17％ Food Marketing and Manufacturing Business (Atrion, Gemsa etc.) JPY bn 0.7 5.7 +5.0 4.0 9.0 +5.0 +124% 16.0 around 10％ IT/Digital Solutions Business (Marubeni I-DIGIO, etc.) JPY bn 1.1 2.5 +1.5 4.3 6.0 +1.7 +40% 9.0 around 14％ Total 56.4 65.2 +8.8 126.9 138.0 +11.1 +9% 186.0 - Q1-Q2 FYE 3/2025 Q1-Q2 FYE 3/2026 Change FYE 3/2025 FYE 3/2026 (announced on Nov-4-2026) Change FYE 3/2028 USD/JPY Term Average 152.63 146.04 -6.59 152.58 143 -9.58 - 140 - 8
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© Marubeni Corporation All Right s Reserved. Free cash 20.0 09 Capital Allocation Core operating cash flow was +¥240.4bn. Full-year forecast remains unchanged as initially announced on May-2-2025 (+¥550.0bn) Divestments amounted ¥96.2bn. Reflecting the steady progress, full-year forecast is now increased to ¥250.0bn Driven by stronger divestments, free-cash is projected at ¥20.0bn *1 Excluding changes in working capital and others. Dividend included in shareholder distributions is aggregated in the fiscal year to which the profit i.e. the source of funds is attributed, and the figures for shareholder distributions are different from cash flow *2 Of the total ¥70.0bn share buyback program (attributable to FYE 3/2025: ¥30.0bn, attributable to FYE 3/2026: ¥40.0 billion ) announced on May-2-2025, the repurchased amount at the end of September 2025 is approx. ¥32.7bn Strategic Platform Businesses Natural Resources Investments Infrastructure Investments and Financing Businesses Forward-looking Investments in Future Pillars ¥420.0bn ¥70.0bn ¥70.0bn ¥10.0bn （announced on Nov-4-2025） Main business domains in FYE 3/2026 Forecast Focusing on allocating capital to Strategic Platform Businesses *1-2Capital Allocation （billion yen） Divestments 250.0 (+20.0) Core operating CF 550.0 Shareholder distributions 210.0 New investments, CAPEX and others 570.0Core operating CF 240.4 (-65.6) New investments, CAPEX and others 306.5 (-146.7) Q1-Q2 FYE 3/2026 Cash In-flow Cash Out-flow Cash In-flow Cash Out-flow FYE 3/2026 Forecast （announced on Nov-4-2025） Shareholder distributions 85.0 (-39.6) Changes relative to the initial forecast announced on May-2-2025 are shown in brackets YOY changes are shown in brackets Divestments 96.2 (+53.7) 9
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© Marubeni Corporation All Right s Reserved. 10 New Investments and Divestments （Q1-Q2 FYE 3/2026） *1 CAPEX and others: additional capital expenditure and others in order to maintain and improve values of existing investments and loans *2 Including approx. -¥69.0bn of short-term agriculture loan which Helena (USA) provided to customers New investments Main items CAPEX and others *1 Q1-Q2 FYE 3/2026 -165.5 -141.0 +96.2 Strategic Platform Businesses （Growth Domains×High Added Value×Scalability） -67.5 ・Pharmaceutical sales business (succession of Sumitomo Pharma’s business in Asia, Phillips Healthcare in Africa) ・Ice cream manufacturing business (Bubbies, USA) ・Automobile extended warranty business (LGM, Canada) ・Electronic components business (OS Electronics, Japan) -132.3 +18.7 ー Natural Resources Investments -47.8 ・Steelmaking coal business (Jellinbah Group , Australia) ・Expansion project at the Centinela copper mine in Chile -5.8 +13.3 ー Infrastructure Investments and Financing Businesses -49.3 ・Open hatch vessel ownership and operations (Gearbulk, Switzerland) ・IPP projects (Senoko Energy, Singapore) -2.9 +64.0 ・North American railcar leasing business (Midwest Railcar, USA) Forward-looking Investments in Future Pillars -1.0 ー -0.0 +0.3 ー FYE 3/2026 Forecast （announced on Nov-4-2025） -400.0 -170.0 +250.0 （billion yen） Growth investments （New investments ・CAPEX and others） Divestments Main items *2 10
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© Marubeni Corporation All Right s Reserved. 0 223.3 424.3 543.0 471.4 503.0 510.0 Over 620.0 35 33 62 78 85 95 100 FYE 3/2020 FYE 3/2021 FYE 3/2022 FYE 3/2023 FYE 3/2024 FYE 3/2025 FYE 3/2026 FYE 3/2027 FYE 3/2028 Net profit (billion yen) Annual dividend per share (yen) 60.8 57.3 107.2 133.0 142.7 157.6 170.0 30.0 60.0 20.0 80.0 40.0 Total amount for share buybacks (billion yen) Total amount for annual dividend (billion yen) Under GC2027, the total payout ratio is raised to approx. 40%, implementing progressive dividends starting from an annual dividend of 100 yen per share ¥40.0bn share buyback*1 in progress for FYE 3/2026 GC2021 GC2024 GC2027 -197.5 FYE 3/2020 FYE 3/2026 Forecast （announced Nov-4-2025） FYE 3/2027 FYE 3/2028 Target • Dividend increase in response to medium- and long-term profit growth • Flexible share buybacks 11 Shareholder Returns Consolidated dividend payout ratio: 25% or more Progressive dividend policy Total payout ratio: around 30-35% Maintain a progressive dividend policy Total payout ratio: around 40% *1 Of the total ¥70.0bn share buyback program announced on May-2-2025, ¥40.0bn is attributable to FYE 3/2026. 11
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© Marubeni Corporation All Right s Reserved. 12 Markets and Commodity Volumes *1 Sensitivity to the initial full-year forecast for FYE 3/2026 announced on May-2-2025 *2 March-to-August average for Q1-Q2, March-to-February average for full-year *3 Sensitivity to oil prices (WTI and Brent) in Oil and Gas E&P *4 Total of oil and gas E&P at U.S. Gulf of Mexico, U.S. onshore and offshore India May-2-2025 Nov-4-2025 Copper LME (USD/ton) *2 9,380 9,618 +238 9,281 9,200 9,759 (H2:9,900) approx. JPY1.5bn/[USD100/ton] Oil WTI (USD/bbl) 78 64 -14 74 60 63 (H2:62) approx. JPY0.4bn/[USD1/bbl]*3 USD/JPY Term Average (yen) 152.63 146.04 JPY appreciation by 6.59yen 152.58 140 143 (H2:140) approx. JPY1.6bn/[JPY1/USD] USD/JPY Term-end (yen) Mar-31-2025 149.52 Sep-30-2025 148.88 JPY appreciation by 0.64yen from the previous year-end Mar-31-2025 149.52 Mar-31-2026 140 Mar-31-2026 140 AUD/JPY Term Average (yen) 101.37 94.52 JPY appreciation by 6.85yen 99.49 90 92 (H2:90) approx. JPY0.8bn/[JPY1/AUD] AUD/JPY Term-end (yen) Mar-31-2025 93.97 Sep-30-2025 97.89 JPY depreciation by 3.92yen from the previous year-end Mar-31-2025 93.97 Mar-31-2026 90 Mar-31-2026 90 JPY TIBOR 3 months (%) 0.34 0.78 +0.44 0.48 1.0 0.9 (H2:1.0) USD SOFR 3 months (%) 5.20 4.24 -0.96 4.81 4.1 4.2 (H2:4.1) FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Full-year FYE 3/2026 Initial Plan (announced on May-2-2025) Oil, Gas Equity Production Volume (K boe/day) *4 14 20 +6 15 19 Copper Equity Sales Volume (K ton) 61 65 +4 134 Steelmaking coal Equity Sales Volume (K ton) 2,841 3,217 +376 6,056 Sensitivity to *1 Net Profit Currency Interest rate Commodity Volumes Markets FYE 3/2025 Q1-Q2 Ave. FYE 3/2026 Q1-Q2 Ave. Change FYE 3/2025 Full-year FYE 3/2026 Full-year Assumption for the Forecast announced on 12
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© Marubeni Corporation All Right s Reserved. 0 100 200 300 400 500 600 700 800 End Mar-2020 End Mar-2021 End Mar-2022 End Mar-2023 End Mar-2024 End Mar-2025 Marubeni TOPIX 13 Stock Price and Credit Ratings Stock Price（Indexed with Mar-31-2020 as 100） Credit Ratings End Mar-2020 End Mar-2021 End Mar-2022 End Mar-2023 End Mar-2024 End Mar-2025 JCR R＆I S＆P Moody's Aa2/AA Aa3/AA‐ A1/A+ A2/A A3/A- Baa1/BBB+ Baa2/BBB Aa1/AA+ Latest change Jun-4-2024 AA‐ ⇒ AA (Stable) Jul-12-2023 A+ ⇒ AA‐ (Stable) Feb-20-2025 BBB+ (Stable) ⇒ BBB+ (Positive) Jul-24-2023 Baa2 ⇒ Baa1 (Stable) End Sep-2025 Marubeni ：3,698 yen Market cap ：6.1tn yen PER ：11.9 times PBR ：1.57 times End Mar-2020 Marubeni ：539 yen Market cap ：0.9tn yen ・ PER is sourced from Bloomberg 13
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© Marubeni Corporation All Right s Reserved. Company Outline Business Strategy Company name Marubeni Pharmaceuticals (succession of Sumitomo Pharma’s business in Asia) Phillips Healthcare Lunatus Marketing & Consulting Invested Q2 FYE 3/2026 Q2 FYE 3/2026 FYE 3/2023 & FYE 3/2024 Number of employees 700 1,300 160 Countries and regions of operation Asia: 9 (China/Hong Kong/Taiwan/ Singapore/Thailand/Malaysia/ Vietnam/Philippines/Indonesia) Africa: 9 (Kenya/Uganda/Tanzania/ Rwanda/Zambia/Nigeria/ Ghana/Namibia/Mauritius) Middle East: 8 (UAE/Saudi Arabia/Qatar/ Oman/Bahrain/Kuwait/ Jordan/Lebanon) 2025 Revenue (plan) 40bn yen 14bn yen 20bn yen Value Creation as a Platform ✓ In Q2 FYE 3/2026, we invested in Marubeni Pharmaceuticals, Phillips Healthcare. Including Lunatus, in which we invested in FYE 3/2023 & 3/2024, we are building a pharmaceutical strategic platform spanning a total of 26 countries/regions in Asia, Africa and the Middle East. ✓ Pharmaceutical sector is a fast-growing field driven by the aging population, the expansion of middle-income demographics, and a growing health consciousness. By delivering trusted, proven pharmaceuticals to the regions and patients who need them, we aim to help close the gaps in medical infrastructure across the world, while pursuing further growth. ✓ By FYE 3/2031, we aim to cover regions with a total population of over 4 billion and carry more than 10,000 products. We plan to build a business portfolio that achieves sales of over 100 billion yen and attributable profit of over 20 billion yen for FYE 3/2031. Establishing and expanding our platform business Africa 1.3 bn Middle East 0.4 bn Asia (SEA & China) 2.1 bn Japan Europe North America Sharing suppliers/pharmaceutical companies & products Operations in each region Cross-regional collaboration Providing needed products to target regions Building a global Pharmaceutical Strategic Platform through investment in Marubeni Pharmaceuticals, Phillips Healthcare Bringing proven products from countries with more advanced pharmaceutical sectors to emerging countries, thus closing gaps in healthcare infrastructure between regions Ref. 01 Pharmaceutical Sales Business （Next Generation Business Development Div.） 14
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© Marubeni Corporation All Right s Reserved. 不動産アセットマネジメント領域 不動産開発・所有賃貸領域 Real estate asset management area Development, ownership, and leasing area Property management area Company name Daiichi Life Marubeni Real Estate Co., Ltd. Founded July 1st, 2025 Ownership Marubeni 50% Dai-ichi Life Holdings 50% Business activities A Japanese holding company specializing in real estate asset management, property management, and development. Real estate assets under management 1,784.7 billion yen (Combined total of the three asset management companies as of the end of March 2025) Ref. 02 Daiichi Life Marubeni Real Estate （Finance, Leasing & Real Estate Business Div.） Company Outline Business Area Group companies of Daiichi Life Marubeni Real Estate （total of seven companies） With asset management at the core of our operations, we provide integrated real estate services—from development and ownership to property management—aimed at strengthening and expanding Japan’s real estate value chain. We will leverage the business platforms, customer networks, capabilities, and expertise of our shareholders to drive new value creation. ✓ One of the largest assets under management (AUM) bases in the real estate asset management industry. ✓ The goal is to achieve AUM of JPY 3 trillion by FYE 3/2031, reaching an industry-leading scale. ✓ Strengthening residential development by leveraging our shareholders' extensive track record and expertise. ✓ Promote diverse real estate developments, such as hotels and logistics facilities, that respond to the needs of our time and deliver social value. ✓ Aim to build a business platform with an industry-leading scale of AUM by strengthening collaboration with the real estate asset management business and expanding third-party mandates from outside the group. Marubeni Real Estate Development DAI-ICHI BUILDING Marubeni Real Estate Management Dai-ichi Life Realty Asset Management Marubeni REIT Advisors Marubeni Asset Management SOHGO HOUSING 15
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© Marubeni Corporation All Right s Reserved. 17 Supplementary Information ①Segment Information ②Supplementary Data 16
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© Marubeni Corporation All Right s Reserved. 0 10 20 30 40 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Lifestyle Contribute to the realization of an enriched lifestyle by creating new value through the provision of a comprehensive range of products and services closely connected to people's daily lives Quarterly Results Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 8.1 6.6 7.1 7.7 0 5 10 15 20 Q1 Q2 Q3 Q4 Lifestyle • Decrease in profit from the MUSI pulp business owing to the deteriorating pulp market, decreases in sales volume, and other factors Net Profit 7.0 4.1 0 5 10 15 20 Q1 Q2 Q3 Q4 Full-year: 29.5 Full-year Forecast: 30.0 Progress: 37% Net Profit - Major Factors for Increase/Decrease (Q1-Q2) (announced on Nov-4-2025) (billion yen) Q1-Q2 Actual *1 The company name has been changed from Saide Tekstil Sanayi ve Ticaret to SAIDE GROUP DIS TICARET in May 2025. FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 14.7 11.1 -3.5 34.0 30.0 -4.0 29.5 One-time Items 1.0 -1.0 -2.0 2.0 1.0 -1.0 4.0 Adjusted Net Profit 14.0 12.0 -2.0 32.0 29.0 -3.0 26.0 Major Results Lifestyle - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Marubeni Fashion Link Consolidated 100% 0.8 0.7 -0.1 Planning, manufacture and sales of apparel and goods SAIDE GROUP DIS TICARET (*1) Equity method 45.5% 0.1 0.2 +0.1 Planning, manufacture and sales of apparel and goods Marubeni Intex Consolidated 100% 0.9 1.0 +0.1 Sales of industrial materials, consumer materials and consumer products Conveyor Solutions Business Consolidated 100% 0.9 1.0 +0.1 Sales and services for conveyor belts, parts and other industrial use rubber products in North America B-Quik Business Consolidated 90.0% 1.9 2.4 +0.4 Car maintenance business in the ASEAN MUSI Pulp Project Consolidated TEL 85.1% MHP 100% 4.0 1.3 -2.7 Hardwood plantation and sales, production and sales of bleached hardwood kraft pulp WA Plantation Resources Consolidated 100% 0.2 -0.8 -1.0 Wood chip production and plantation in Australia Koa Kogyo Consolidated 80.0% 1.5 1.1 -0.4 Manufacture and sales of containerboard and printing paper Fukuyama Paper Consolidated 55.0% 0.8 0.7 -0.1 Manufacture and sales of containerboard and base paper for paper tubes Marubeni Forest LinX Consolidated 100% 0.9 0.9 +0.1 Sales of forest-derived products including raw materials for paper and paper products Santher-Fabrica de Papel Santa Therezinha Equity method 49.0% 1.2 0.4 -0.8 Manufacture and sales of hygiene products (household paper, diapers, sanitary napkins, etc.) in Brazil MX Mobiling Consolidated 100% 2.5 3.0 +0.6 Operation of “docomo shop” as an agent, sales of smartphone-related products and services, sales of solutions for corporate customers, bank agency business 17
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© Marubeni Corporation All Right s Reserved. 0 20 40 60 80 100 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Food & Agri Business Food & Agri Business - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Yamaboshiya Consolidated 75.6% 1.0 1.1 +0.1 Wholesale of confectionary products to mass-retail and convenience stores The Nisshin OilliO Group (*1) Equity method 16.5% Processing and sales of edible oil business Marubeni Foods Consolidated 100% 0.6 0.7 +0.2 Import/export and sales of coffee, tea, fruit juice, agricultural products, processed foods, food ingredients, etc Olympus Holding (Orffa) Consolidated 100% 0.3 -0.2 -0.4 Feed additive distribution business Euroma Holding Consolidated 100% 0.4 0.5 +0.1 Manufacture and sale of spices and seasonings in the Netherlands Cia. Iguacu de Cafe Soluvel Consolidated 100% 1.1 2.2 +1.1 Manufacturing and sales of instant coffee in Brazil Iguacu Vietnam Consolidated 100% -2.4 0.7 +3.1 Manufacturing and sales of instant coffee in Vietnam Creekstone Farms Premium Beef Consolidated 100% 0.5 -2.0 -2.5 Production, processing and sales of beef, etc. in USA Wellfam Foods Consolidated 100% -0.2 3.5 +3.7 Marketing of livestock, meats and processed products Rangers Valley Cattle Station Consolidated 100% -1.3 0.7 +2.0 Cattle raising and beef sales business in Australia S FOODS (*2) Equity method 15.3% 0.2 0.6 +0.4 Wholesale, retail and restaurant business of meats Columbia Grain International Consolidated 100% 1.6 0.5 -1.1 Origination, storage, exporting and domestic sales of grain produced in North America Marubeni Nisshin Feed Consolidated 60.0% 1.2 1.0 -0.3 Manufacture and sales of livestock feed Pacific Grain Terminal Consolidated 78.4% 0.4 0.5 +0.0 Warehousing, stevedoring and transportation operations Marubeni Seafoods Consolidated 100% 0.7 0.7 +0.0 Import/export of seafood products, wholesale of seafood products and cold-storage warehousing Helena Agri-Enterprises Consolidated 100% 19.1 15.7 -3.4 Sales of agricultural materials and provision of various services in USA Adubos Real Consolidated 80.0% 0.9 1.2 +0.4 Sales of agricultural materials and provision of various services in Brazil MacroSource Consolidated 100% 3.8 7.3 +3.5 Wholesale of fertilizer in USA, etc. *1 Listed Company: We are not able to mention the financial results. *2 Stated figures which are multiplications of disclosed figures of this company and our equity portion, are shown for refere nce. Adjustments of accounting standard variances have been applied to our IFRS consolidated statements. Strive to produce and provide a stable supply of sustainable food resources, support a rich food culture, and contribute to society through global business operations Food & Agri Business 31.5 3.4 24.7 9.3 0 20 40 60 Q1 Q2 Q3 Q4 Full-year: 68.9 Quarterly Results Net Profit for FYE 3/2025 Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Net Profit for FYE 3/2026 35.5 5.8 0 20 40 60 Q1 Q2 Q3 Q4 Full-year Forecast: 82.0 Progress: 50% Net Profit (announced on Nov-4-2025) • Increases in profits from the domestic chicken sales business and the fertilizer wholesale business in the U.S. • Decrease in profit from Helena due to adverse weather conditions in some regions Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 34.9 41.3 +6.4 85.0 82.0 -3.0 68.9 One-time Items 1.0 2.0 +1.0 0.0 2.0 +2.0 -3.0 Adjusted Net Profit 34.0 40.0 +6.0 85.0 80.0 -5.0 71.0 Major Results (billion yen) 18
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© Marubeni Corporation All Right s Reserved. 0 40 80 120 160 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Metals & Mineral Resources Promote all areas of the metal and mineral resources supply chain business from mine development to raw materials, products, trading, and recycling Metals & Mineral Resources 34.5 25.1 37.9 26.0 0 20 40 60 Q1 Q2 Q3 Q4 28.7 23.5 0 20 40 60 Q1 Q2 Q3 Q4 Full-year: 123.5 Quarterly Results Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 113.0 Progress: 46% Net Profit (announced on Nov-4-2025) (billion yen) Metals & Mineral Resources - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Roy Hill Iron Ore Project Equity method 15.0% 14.9 8.0 -7.0 Investment in iron ore business in Australia Marubeni Resources Development Consolidated 100% 21.7 12.1 -9.6 Investment in steelmaking material business, etc. in Australia Marubeni LP Holding Consolidated 100% 3.2 17.6 +14.4 Investment in copper business in Chile Marubeni Metals & Minerals (Canada) Consolidated 100% 1.7 -0.2 -2.0 Smelting and sales of aluminum ingots in Canada Marubeni Aluminium Australia Consolidated 100% 0.6 -1.5 -2.0 Smelting and sales of aluminum ingots in Australia Marubeni-Itochu Steel Equity method 50.0% 14.7 13.8 -0.9 Sales and business management of steel products • Decreases in profits from the Australian steelmaking coal business and the Australian iron ore project caused by decline in market prices • Decrease in profit from the aluminum business • Increase in profit from the Chilean copper mining business Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 59.6 52.2 -7.4 113.0 113.0 0.0 123.5 One-time Items 0.0 0.0 0.0 -2.0 0.0 +2.0 -2.0 Adjusted Net Profit 60.0 52.0 -8.0 115.0 113.0 -2.0 125.0 Major Results 19
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© Marubeni Corporation All Right s Reserved. 0 20 40 60 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Energy & Chemicals Build supply chains and create value from upstream to downstream, including carbon-neutral initiatives, in energy and chemical-related industries through both investment and trading Energy & Chemicals 10.0 13.1 62.4 0.7 0 40 80 120 Q1 Q2 Q3 Q4 9.1 -4.9 -10 10 30 50 Q1 Q2 Q3 Q4 Full-year: 86.2 Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 30.0 Progress: 14% Net Profit (announced on Nov-4-2025) (billion yen) Energy & Chemicals - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business LNG Projects - - 1.9 2.3 +0.4 Liquefaction of natural gas overseas Oil & Gas E&P Consolidated 100% 6.3 -7.0 -13.4 Total of oil and gas E&P at U.S. Gulf of Mexico, U.S. onshore and offshore India ENEOS GLOBE Equity method 20.0% 0.5 0.4 -0.1 Import and sales of LPG, and sales of new energy-related equipment MIECO Consolidated 100% 1.0 1.3 +0.3 Sales of all types of petroleum products and natural gas Chemical-related business (*1) - - 6.6 2.4 -4.3 Trading business including petrochemical products, PVC, chlor-alkali products, inorganic chemicals, plastics and functional materials, etc *1 Net profit of Chemicals Dept.-I, II, III. • Impairment loss on property, plant and equipment for oil and gas E&P • Decrease in profit from the trading of petrochemical products Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 23.2 4.2 -18.9 46.0 30.0 -16.0 86.2 One-time Items 0.0 -10.0 -10.0 0.0 -10.0 -10.0 44.0 Adjusted Net Profit 23.0 14.0 -9.0 46.0 40.0 -6.0 42.0 Major Results 20
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© Marubeni Corporation All Right s Reserved. 0 20 40 60 80 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Power & Infrastructure Services Provide value through renewable energy, storage batteries, and power services, as well as social infrastructure services in response to the energy transition. Develop businesses in the new energy sector Power & Infrastructure Services 18.9 17.1 14.5 10.5 0 20 40 60 Q1 Q2 Q3 Q4 16.8 20.1 0 20 40 60 Q1 Q2 Q3 Q4 Full-year: 61.1 *1 Total profits of consolidated subsidiaries and share of associates and joint ventures of our IPP projects. *2 Total profits of consolidated subsidiaries and share of associates and joint ventures of our FPSO projects. *3 Total profits of consolidated subsidiaries and share of associates and joint ventures of our overseas water/wastewater services and IWP projects. Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 70.0 Progress: 53% Net Profit (announced on Nov-4-2025) (billion yen) Power & Infrastructure Services - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business IPP Projects (*1) - - 36.2 31.7 -4.5 Overseas and domestic power generation SmartestEnergy Group Consolidated 100% 7.0 5.8 -1.2 Electricity aggregation and retail business in UK, USA and Australia FPSO Projects (*2) - - 2.8 3.0 +0.3 FPSO project investment and management Overseas Water/Wastewater Services and IWP Projects (*3) - - 5.1 6.2 +1.1 Overseas water/wastewater services and IWP projects Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 36.0 36.8 +0.8 64.0 70.0 +6.0 61.1 One-time Items -1.0 3.0 +4.0 0.0 2.0 +2.0 -14.0 Adjusted Net Profit 37.0 33.0 -4.0 64.0 68.0 +4.0 75.0 Major Results • Decreases in profits from the wholesale and retail power trading business and the IPP project • Increases in profits from one-time items 21
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© Marubeni Corporation All Right s Reserved. 0 40 80 120 160 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Finance, Leasing & Real Estate Business Provide financial and real estate solutions unique to diversified trading conglomerates to address diversified customer challenges and needs Finance, Leasing & Real Estate Business 23.5 17.1 3.5 15.0 0 40 80 120 Q1 Q2 Q3 Q4 30.9 94.9 0 40 80 120 Q1 Q2 Q3 Q4 Full-year: 59.1 *1 Includes profit from investment in Wheels Business from 3rd quarter of the fiscal year ended March 2025. The consolidated equity portion and net profit, including the 20% portion in the Aerospace & Mobility Division, are shown. *2 From FYE 3/2026, net profit is shown including tax expenses incurred by separate entity. *3 Listed Company: We are not able to mention the financial results. *4 Following the establishment of Daiichi Life Marubeni Real Estate in July 2025, this company's net profit is included in our consolidated profit from 2nd quarter of the FYE 3/2026. In addition, as Marubeni Real Estate Management became a subsidiary of Daiichi Life Marubeni Real Estate, its results from the 2nd quarter of FYE 3/2026 onward are included in the results of Daiichi Life Marubeni Real Estate. *5 From FYE 3/2026, net profit includes Marubeni Safenet and other insurance-related companies. The figures for the previous year have been replaced accordingly. Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 160.0 Progress: 79% Net Profit (announced on Nov-4-2025) (billion yen) Finance, Leasing & Real Estate Business - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Nowlake Business Equity method 21.7% 13.3 16.6 +3.3 Used car retail financing business in USA Wheels Business (*1) Equity method 20.0% - 2.7 +2.7 Fleet management business in USA PLM Fleet (*2) Equity method 50.0% 1.0 0.8 -0.2 Leasing and rental of refrigerated trailers in USA Marubeni Fuyo Auto Investment (Canada) Equity method 50.0% 0.5 0.1 -0.4 Investment in commercial vehicle rental and leasing business in Canada Mizuho Leasing (*3) Equity method 20.2% Integrated financial services Mizuho Marubeni Leasing Equity method 50.0% 1.3 1.2 -0.1 General leasing and related businesses Aircastle Business Equity method 75.0% 4.3 8.2 +3.9 Aircraft operating lease business Daiichi Life Marubeni Real Estate (*4) Equity method 50.0% - 1.5 - Asset management, property management, and development businesses for domestic real estate Marubeni Real Estate Management (*4) Consolidated 100% 0.6 0.6 - Leasing and subleasing of real estate, management of office buildings and complex facilities Insurance Business (*5) Consolidated 100% 1.6 1.3 -0.4 Insurance agent, Insurance broker, and Captive insurance business Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 40.7 125.7 +85.1 59.0 160.0 +101.0 59.1 One-time Items 15.0 93.0 +78.0 4.0 93.0 +89.0 3.0 Adjusted Net Profit 25.0 33.0 +8.0 55.0 67.0 +12.0 56.0 Major Results • Valuation gain on the integration of domestic real estate business with Dai-ichi Life Holdings, Inc. • Increases in profits from the mobility business in North America and the aircraft leasing business • Gain on sale of the North American railcar leasing business • Non-recurrence of a gain on negative goodwill recognized in the same period of the previous fiscal year caused by the additional acquisition of shares in Mizuho Leasing 22
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© Marubeni Corporation All Right s Reserved. 0 20 40 60 80 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Aerospace & Mobility Promote further functional enhancement and value creation across the entire mobility value chain through land, sea, and air Aerospace & Mobility 12.4 13.6 20.3 5.0 0 20 40 60 Q1 Q2 Q3 Q4 11.5 12.5 0 20 40 60 Q1 Q2 Q3 Q4 Full-year: 51.4 Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 43.0 Progress: 56% Net Profit (announced on Nov-4-2025) (billion yen) Aerospace & Mobility - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Marubeni Aviation Asset Investment Consolidated 100% 2.7 1.9 -0.7 Investment in aircraft parts trading business in USA Ship owning and operating business Consolidated 100% 10.5 5.3 -5.2 Owning and operating of ships Construction Machinery Business - - 8.0 6.9 -1.2 Sales of construction machinery and related services, financing Automotive Aftermarket Business - - 1.6 1.3 -0.2 Automotive aftermarket business in North America Marubeni Auto Investment (UK) Consolidated 100% 0.2 0.3 +0.1 Investment in automobile retail business in UK • Decrease in profit from the ship owning and operating business • Increase in profit from the aviation-related business Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 26.0 24.0 -2.0 41.0 43.0 +2.0 51.4 One-time Items 0.0 -2.0 -2.0 -6.0 -7.0 -1.0 1.0 Adjusted Net Profit 26.0 26.0 0.0 47.0 50.0 +3.0 50.0 Major Results 23
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© Marubeni Corporation All Right s Reserved. -5 0 5 10 15 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast IT Solutions Deliver value to customers by consistently providing ICT services (from DX consulting to system solutions incorporating advanced technologies) that leverage our strengths IT Solutions -0.1 0.6 1.3 1.7 0 5 10 Q1 Q2 Q3 Q4 0.7 2.0 0 5 10 Q1 Q2 Q3 Q4 Full-year: 3.5 *1 From FYE 3/2026, net profit includes Marubeni Transport Service and Marubeni Logistics (Shanghai), both subsidiaries of Marubeni Logistics. The figures for the previous year have been replaced accordingly. Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 6.0 Progress: 45% Net Profit (announced on Nov-4-2025) (billion yen) IT Solutions - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Marubeni I-DIGIO Holdings Consolidated 100% 1.2 2.5 +1.3 Providing IT and digital solutions including information systems, cloud computing, security, networking, and data centers ARTERIA Networks Consolidated 66.7% 1.1 1.6 +0.5 Provision of various network services for businesses and condominiums Marubeni Logistics (*1) Consolidated 100% 0.5 0.7 +0.2 International combined transport operation (NVOCC) , 3PL (Third-party Logistics), ocean & air freight forwarding, consultancy relating to logistics • Increase in profit from the IT/Digital solutions business Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 0.5 2.7 +2.2 4.0 6.0 +2.0 3.5 One-time Items 0.0 1.0 +1.0 0.0 1.0 +1.0 0.0 Adjusted Net Profit 1.0 2.0 +1.0 4.0 5.0 +1.0 4.0 Major Results 24
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© Marubeni Corporation All Right s Reserved. 0 10 20 30 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Next Generation Business Development Implement the winning strategies of our successfully developed businesses in next generation growth domains and promote the development of new business models and business creation Next Generation Business Development 0.9 0.5 2.5 0.8 0 5 10 15 Q1 Q2 Q3 Q4 10.0 4.1 0 5 10 15 Q1 Q2 Q3 Q4 Full-year: 4.7 Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: 19.0 Progress: 74% Net Profit (announced on Nov-4-2025) (billion yen) Next Generation Business Development - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Marubeni Techno-Systems Consolidated 100% 0.6 0.3 -0.3 Sales, export and import of industrial machinery Marubeni Ele-Next Consolidated 100% 0.4 0.6 +0.2 Sales of electrical equipment connecting parts and materials • Gain from negative goodwill arising from the acquisition of the electronic components business Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit 1.4 14.1 +12.7 17.0 19.0 +2.0 4.7 One-time Items 0.0 11.0 +11.0 9.0 11.0 +2.0 2.0 Adjusted Net Profit 1.0 3.0 +2.0 8.0 8.0 0.0 3.0 Major Results 25
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© Marubeni Corporation All Right s Reserved. -5 0 5 10 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 FYE 3/2026 Forecast Next Generation Corporate Development Promote high growth potential consumer-related businesses investment and M&A through specialized organization management and build the next generation of revenue bases Next Generation Corporate Development -1.0 0.3 -0.1 -1.3 -5 0 5 10 Q1 Q2 Q3 Q4 -1.4 0.8 -5 0 5 10 Q1 Q2 Q3 Q4 Full-year: -2.2 Net Profit for FYE 3/2025 Net Profit for FYE 3/2026 Quarterly Results Net Profit - Major Factors for Increase/Decrease (Q1-Q2) Full-year Forecast: -2.0 Progress: - Net Profit (announced on Nov-4-2025) (billion yen) Next Generation Corporate Development - Net Profit of Major Group Companies and Others (billion yen) Company name Consolidated/ Equity method Equity Portion FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change Description of business Corporate development related business (*1) - - 0.9 0.6 -0.3 Consumer-related business in Southeast Asia and USA *1 Total profits and others of consolidated subsidiaries and share of associates of R.G. Barry, AIG, One-ject, and Tim Hortons franchise business. Q1-Q2 Actual FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecast (announced on May -2-2025) FYE 3/2026 Forecast (announced on Nov -4-2025) Change (Reference) FYE 3/2025 Net Profit -0.7 -0.6 +0.1 -2.0 -2.0 0.0 -2.2 One-time Items 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Adjusted Net Profit -1.0 -1.0 0.0 -2.0 -2.0 0.0 -2.0 Major Results 26
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© Marubeni Corporation All Right s Reserved. 28 Supplementary Information ①Segment Information ②Supplementary Data 27
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© Marubeni Corporation All Right s Reserved. 01 Operating Results *1 “Operating profit (loss)” is presented in accordance with Japanese accounting practice for investors‘ convenience and is not required by IFRS Accounting Standards. *2 "Non-operating other-net" is the sum of "Gains (losses) on investment securities", "Gains (losses) on property, plant and equipment", "Other income" and "Other expenses.“ *3 "Profit attributable to owners of the parent" is shown as "Net profit" in this material. (Unit: billions of yen) Revenue 3,891.2 2,163.7 2,039.6 4,203.4 +312.2 8% Gross trading profit 566.6 299.8 257.5 557.4 -9.2 -2% Selling, general and administrative expenses -416.4 -213.0 -216.1 -429.1 -12.7 3% Gains (losses) on allowance for doubtful accounts -5.0 -1.4 -0.5 -1.9 +3.1 -63% Operating profit (loss) (*1) 145.1 85.4 41.0 126.4 -18.7 -13% Interest expenses, net of interest income -25.9 -13.3 -13.4 -26.6 -0.7 3% Dividend income 5.5 6.2 1.1 7.3 +1.7 32% Non-operating other-net (*2) 5.3 26.0 72.7 98.8 +93.5 - Share of profit (loss) of associates and joint ventures 165.0 77.1 82.7 159.7 -5.3 -3% Profit before tax 295.0 181.5 184.1 365.5 +70.5 24% Income taxes -51.3 -23.9 -29.7 -53.6 -2.3 4% Profit for the period 243.8 157.6 154.4 312.0 +68.2 28% Profit attributable to owners of the parent (Net profit) (*3) 238.1 154.4 151.1 305.5 +67.4 28% Profit attributable to non-controlling interests 5.6 3.2 3.3 6.5 +0.8 15% Change in percentage Items FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 ChangeQ1 Q2 ＜Gross trading profit＞ ・ ( ) Decrease in profit from Australian steelmaking coal business caused by decline in market prices. ・ ( ) Decrease in profit from the trading of petrochemical products. ・ ( ) Decreases in profits from the electricity wholesale and retail businesses. ・ ( ) Increases in profits from the fertilizer wholesale business in the U.S. and the domestic chicken sales business. ＜Non-operating other-net＞ ・ ( ) Valuation gain on the integration of domestic real estate business with Dai-ichi Life Holdings, Inc and gain on sale of the North American railcar leasing business. ・ ( ) Impairment loss on property, plant and equipment for oil and gas E&P ＜Share of profit (loss) of associates and joint ventures＞ ・ ( ) Decrease in profit from the ship owning and operating business. ・ ( ) Non-recurrence of a gain on negative goodwill recognized in the same period of the previous fiscal year caused by the additional acquisition of shares in Mizuho Leasing. ＜Net profit＞ ( ) Net profit for Q2 FYE 3/2026 amounted to 305.5 billion yen, with 67.4 billion yen (28%) year-on-year increase ( ) The progress to FYE 3/2026 yearly forecast of 510.0 billion yen is 60% ( ) ( ) Energy & Chemicals -8.7 +59.4 → +50.7 Metals & Mineral Resources -8.8 +27.5 → +18.7 Food & Agri Business +11.2 +218.4 → +229.6 Power & Infrastructure Services -8.7 +46.9 → +38.2 Gains (losses) on investment securities +95.1 +1.1 → +96.2 -9.2Gains (losses) on property, plant and equipment -7.4 -1.8 → Aerospace & Mobility -4.5 +14.1 → +9.6 Finance, Leasing & Real Estate Business -2.9 +45.5 → +42.6 Non-resources +96.7 +174.6 → +271.3 Consolidated +67.4 +238.1 → +305.5 Other -8.1 +1.9 → -6.1 Resources -21.3 +61.6 → +40.3 28
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© Marubeni Corporation All Right s Reserved. ＜Financial Position＞ ・ Net interest-bearing debt increased by 96.7 billion yen from the end of the previous fiscal year to 2,062.2 billion yen, mainly due to dividend payments and the purchase of treasury stock. ・ Equity attributable to owners of the parent increased by 247.3 billion yen from the end of the previous fiscal year to 3,876.6 billion yen, due to an increase in the retained earnings from net profit accumulation and an increase in foreign currency translation adjustments. ・ As a result, net DE ratio stood at 0.53 times. 02 Cash Flows and Financial Position (Unit: billions of yen) announced on May. 2, 2025 announced on Nov. 4, 2025 Cash flow from operating activities 251.8 211.4 -40.4 450.0 450.0 Core operating cash flow 305.9 240.4 -65.6 550.0 550.0 Changes in working capital and others -54.1 -28.9 +25.2 -100.0 -100.0 Cash flow from investing activities -442.1 -213.8 +228.3 -340.0 -320.0 New investments -332.8 -169.0 +163.8 -400.0 -430.0 CAPEX and others -151.8 -141.0 +10.8 -170.0 -170.0 Divestments 42.5 96.2 +53.7 230.0 280.0 Free cash flow -190.3 -2.4 +187.9 110.0 130.0 -259.0 -89.1 +169.9 -30.0 -10.0 announced on May. 2, 2025 announced on Nov. 4, 2025 Total assets 9,202.0 9,287.4 +85.4 Net interest-bearing debt 1,965.5 2,062.2 +96.7 around 2,100.0 around 2,100.0 Equity attributable to owners of the parent 3,629.2 3,876.6 +247.3 around 3,700.0 around 3,700.0 Net DE ratio 0.54 times 0.53 times -0.01 point around 0.6 times around 0.6 times Free cash flow after shareholder distributions (excluding changes in working capital and others) Items FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2026 Forecasts Items March 31, 2025 September 30, 2025 Change FYE 3/2026 Forecasts ＜Cash Flows＞ ・ Net cash provided by operating activities was 211.4 billion yen due to operating revenue and dividend income, despite an increase in working capital and others. ・ Net cash used in investing activities was 213.8 billion yen, due to the outflow from capital expenditures in overseas businesses, the acquisition of shares of subsidiaries and associates and joint ventures accounted for using the equity method and others, despite proceeds from the sale of investments in associates and joint ventures accounted for using the equity method and others. ・ As a result, free cash flow for the six-month period ended September 30, 2025 was an outflow of 2.4 billion yen. 29
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© Marubeni Corporation All Right s Reserved. 03 Segment Information ① (Unit: billions of yen) FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change 88.8 85.5 -3.2 218.4 229.6 +11.2 27.5 18.7 -8.8 1.8 1.3 -0.6 4.2 5.6 +1.4 49.5 51.5 +2.0 14.7 11.1 -3.5 34.9 41.3 +6.4 59.6 52.2 -7.4 23.9 18.5 -5.4 49.6 58.0 +8.4 15.5 7.5 -8.0 Depreciation and Amortisation 10.9 11.3 +0.4 33.0 32.9 -0.1 3.5 3.9 +0.3 Interest Received 0.5 0.5 +0.0 3.3 4.0 +0.7 1.6 1.2 -0.4 Dividends Received 1.2 1.8 +0.7 4.5 3.3 -1.2 56.1 34.7 -21.4 Among the above, cash dividends from equity method investees 0.4 0.6 +0.2 3.8 2.7 -1.1 55.9 34.4 -21.5 -5.4 -3.8 +1.7 -12.7 -13.0 -0.3 -2.5 -2.5 +0.0 -7.9 -8.4 -0.5 -8.6 -4.9 +3.7 -0.5 -3.6 -3.1 23.1 20.0 -3.1 69.0 80.3 +11.4 73.7 41.2 -32.5 Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change 634.2 625.8 -8.3 2,474.7 2,270.8 -203.9 1,436.4 1,444.2 +7.8 Current Assets 323.9 313.0 -10.9 1,597.3 1,339.6 -257.7 354.9 282.7 -72.2 Non-current Assets 310.3 312.8 +2.6 877.4 931.2 +53.8 1,081.5 1,161.5 +80.0 Investments in associates and joint ventures 58.3 62.2 +3.9 130.4 137.0 +6.5 957.1 1,034.6 +77.5 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change 59.4 50.7 -8.7 46.9 38.2 -8.7 15.4 11.5 -3.9 4.8 4.5 -0.3 41.9 40.7 -1.2 45.5 42.6 -2.9 23.2 4.2 -18.9 36.0 36.8 +0.8 40.7 125.7 +85.1 30.5 20.0 -10.5 3.5 -5.1 -8.7 1.5 -1.8 -3.3 Depreciation and Amortisation 19.5 20.0 +0.4 2.5 3.8 +1.4 1.7 0.1 -1.5 Interest Received 3.7 3.1 -0.6 3.9 4.8 +1.0 1.1 1.1 -0.0 Dividends Received 10.3 3.9 -6.5 17.9 12.0 -5.9 5.8 13.0 +7.2 Among the above, cash dividends from equity method investees 8.9 2.7 -6.2 17.8 11.8 -6.0 5.5 12.9 +7.4 -11.7 -11.3 +0.4 -8.4 -8.2 +0.2 -2.7 -2.4 +0.3 -3.9 -0.4 +3.5 6.8 5.0 -1.9 -2.3 -1.7 +0.5 48.4 35.3 -13.1 26.2 12.3 -14.0 5.1 8.3 +3.1 Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change 857.6 896.4 +38.8 1,592.0 1,634.8 +42.8 914.8 966.8 +52.0 Current Assets 550.8 639.2 +88.4 561.8 559.2 -2.6 176.6 101.7 -74.9 Non-current Assets 306.9 257.2 -49.6 1,030.2 1,075.6 +45.5 738.1 865.0 +126.9 Investments in associates and joint ventures 95.1 94.4 -0.7 740.4 769.9 +29.5 719.9 847.9 +128.0 * Adjusted operating profit = Gross trading profit + Selling, general and administrative expenses Lifestyle Food & Agri Business Energy & Chemicals Power & Infrastructure Services Segment Assets Segment Gross Trading Profit Net Profit Metals & Mineral Resources Net Profit Adjusted operating profit (*) Income taxes paid Core operating cash flow Segment Assets Share of profit (loss) of associates and joint ventures Gross Trading Profit Segment Interest paid Core operating cash flow Finance, Leasing & Real Estate Business Share of profit (loss) of associates and joint ventures Adjusted operating profit Interest paid Income taxes paid 30
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© Marubeni Corporation All Right s Reserved. 03 Segment Information ② (Unit: billions of yen) FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change 74.8 77.1 +2.3 22.2 24.5 +2.3 13.1 20.2 +7.2 14.1 9.6 -4.5 -0.1 0.2 +0.3 2.7 2.9 +0.2 26.0 24.0 -2.0 0.5 2.7 +2.2 1.4 14.1 +12.7 22.2 23.8 +1.6 3.4 5.1 +1.7 0.1 2.4 +2.2 Depreciation and Amortisation 11.2 12.0 +0.8 8.3 8.6 +0.2 1.0 2.0 +1.0 Interest Received 1.4 0.9 -0.5 0.1 0.1 +0.0 0.2 0.2 -0.0 Dividends Received 12.4 5.6 -6.8 0.1 0.1 -0.0 3.4 4.0 +0.6 Among the above, cash dividends from equity method investees 12.2 5.6 -6.6 0.1 0.1 -0.0 3.2 4.0 +0.7 -7.6 -7.2 +0.4 -0.6 -0.6 -0.0 -0.9 -1.0 -0.1 -4.7 -12.8 -8.2 -0.7 -2.3 -1.5 -0.9 -0.2 +0.7 34.9 22.3 -12.6 10.7 11.1 +0.4 3.0 7.4 +4.4 Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change 731.9 803.9 +72.0 265.4 264.2 -1.1 169.9 277.5 +107.6 Current Assets 322.8 318.3 -4.5 84.2 82.6 -1.7 82.3 130.7 +48.4 Non-current Assets 409.1 485.6 +76.5 181.1 181.6 +0.5 87.5 146.8 +59.3 Investments in associates and joint ventures 187.0 212.4 +25.4 7.1 8.2 +1.1 51.5 56.9 +5.4 FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change FYE 3/2025 Q1-Q2 FYE 3/2026 Q1-Q2 Change 5.8 7.4 +1.6 -5.7 -6.0 -0.4 566.6 557.4 -9.2 0.4 0.8 +0.4 0.1 0.0 -0.0 165.0 159.7 -5.3 -0.7 -0.6 +0.1 1.9 -6.1 -8.1 238.1 305.5 +67.4 0.5 -0.6 -1.1 -0.6 0.4 +1.0 150.1 128.3 -21.9 Depreciation and Amortisation 0.4 0.9 +0.5 6.8 6.9 +0.0 98.9 102.2 +3.3 Interest Received 0.1 0.1 -0.0 -4.5 -5.8 -1.3 11.3 10.2 -1.1 Dividends Received - - - 0.3 0.3 -0.1 112.0 78.6 -33.4 Among the above, cash dividends from equity method investees - - - -0.0 0.0 +0.0 107.9 74.7 -33.1 -1.4 -1.3 +0.1 12.3 10.5 -1.8 -41.5 -40.7 +0.8 0.6 0.6 +0.0 -2.7 -9.6 -6.8 -24.9 -38.3 -13.4 0.3 -0.3 -0.6 11.6 2.6 -9.0 305.9 240.4 -65.6 Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change Mar. 31, 2025 Sep. 30, 2025 Change 93.3 97.3 +4.0 32.0 5.7 -26.3 9,202.0 9,287.4 +85.4 Current Assets 18.3 21.0 +2.7 -51.5 -81.2 -29.7 4,021.4 3,706.7 -314.7 Non-current Assets 75.0 76.3 +1.3 83.5 86.9 +3.4 5,180.5 5,580.7 +400.1 Investments in associates and joint ventures 27.0 27.0 +0.0 -19.2 -19.7 -0.5 2,954.6 3,230.8 +276.1 Next Generation Business Development Gross Trading Profit Share of profit (loss) of associates and joint ventures Net Profit Adjusted operating profit Interest paid Segment Aerospace & Mobility IT Solutions Consolidated Gross Trading Profit Share of profit (loss) of associates and joint ventures Net Profit Adjusted operating profit Income taxes paid Core operating cash flow Segment Assets Segment Interest paid Income taxes paid Core operating cash flow Segment Assets OtherNext Generation Corporate Development 31