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Mitsubishi Corporation FY2026 Q1 Earnings Presentation Three months ended June 30, 2026 August 3, 2026 Forward-Looking Statements - This release contains forward-looking statements regarding Mitsubishi Corporation’s (“MC”, the “Company” or “Parent”) future plans, strategies, beliefs and performance that are not historical facts. Such statements are based on the Company’s assumptions and beliefs as a result of competitive, financial and economic data currently available, and are subject to a number of risks, uncertainties and assumptions that, without limitation, relate to world economic conditions, exchange rates and commodity prices. - Accordingly, Mitsubishi Corporation cautions readers that actual results may differ materially from those projected in this release and that Mitsubishi Corporation bears no responsibility for any negative impact arising from the use of this release. Notes Regarding This Earnings Release - “Consolidated net income” refers to “Profit (loss) for the year attributable to owners of the Parent” which excludes non-controlling interests. - “Equity” refers to “Equity attributable to owners of the Parent” which excludes non-controlling interests. - Mitsubishi Corporation’s fiscal year ends March 31. Disclaimer: This English translation is solely for reference purposes and does not constitute a legally definitive translation of the original Japanese text. In the event of any discrepancy in meaning, the original Japanese version will prevail as the official authoritative version.
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Corporate Strategy 2027 Update1 Supplementary Information to the Consolidated Financial Statements2 Supplementary Information3
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Executive Summary Profit Growth Outlook Through FY2027 FY2026 Q1 Summary Results Cash Flow Allocation & Leverage Summary Results by Segment Capital Recycling Track Record Corporate Strategy 2027 Progress and Breakdown of “Enhance” and “Reshape” P rofit Growth Through FY2027 Key Investment Projects Announced Shareholder Return Policy Corporate Strategy 2027 Update1
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1 © Copyright 2026 Mitsubishi Corporation FY2026 Q1 Highlights FY2026 Q1 unde rlying operating CF was ¥341.2 billion (27% progress) and consolidated net income was ¥298.5 billion (27% progress), representing a solid start toward achieving our full-year forecast. With fo reign exchange rates and certain commodity prices remaining more favorable than our initial assumptions, we are assessing the potential for an upward revision to our FY2026 guidance in Q2. Corporate Strategy 2027 Update We con tinue to make steady progress toward delivering the planned profit growth under the “Enhance,” “Reshape,” and “Create” initiatives. Based on cur rent performance and our investment pipeline, our cash flow allocation plan remains largely unchanged. We r emain firmly committed to achieving our FY2027 ROE target of 12% or higher and will continue to advance our key priorities. Executive Summary 3
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1 © Copyright 2026 Mitsubishi Corporation Capital recycling gains / losses1 Steady project earnings have continued into this fiscal year, driving progress toward our profit growth plan. Capital recycling1 ¥295.5bn Adjusted consolidated net income ¥681.9bn Enhance Reshape ・ Acquisition of the U.S. shale gas business ・ Investment in digital finance business in the Philippines (GCash) Key announced projects Breakdown + ¥60bn Executed projects Profit contribution from asset turnover-t ype businesses Stable operations at LNG Canada Acquisition of salmon farming operations Full consolidation of Mitsubishi Shokuhin Capital restructuring of the automotive bus iness in Indonesia Salmon farming ASEAN ( Thailand / Indonesia) automotive Retail and food distribution & logistics Americas and European power + ¥30bn Expected to be realized by FY2026 year-end: + ¥90bn4 Expected contribution by FY2027: + ¥85bn Profit contribution from asset turnover-t ype businesses Stable operations at LNG Canada Acquisition of salmon farming operations Executed projects Rebound of core businesses Reinforcing the earnings base Profit Growth Outlook Through FY2027 ¥950.7bn + ¥300bn+ (vs. FY20243) Create + ¥100bn+ (vs. FY20243) 1 Excluding asset turnover-type businesses such as certain real estate and power businesses. For further detail, please refer to Net Income Detail. 2 Represents estimated profit growth for FY2026, and expected profit growth for FY2027 from previously executed projects. 3 Indicates forecasted growth in adjusted consolidated net income. 4 Represents the difference between the FY2026 adjusted consolidated net income forecast of approx. ¥820 billion and the FY2024 adjusted consolidated net income results of approx. ¥680 billion, excluding the expected FY2026 profit growth from “Create” initiatives of approx. ¥50 billion. FY2024 consolidated net income results FY2027 consolidated net income outlook ¥1.2tn+ + ¥60bn+2 New investments and joint projects to capture further growth. + ¥175bn+2 Efforts are underway to further strengthen the earnings base and advance projects. 4 One-time items1 (¥26.7bn) 10.3% ROE Quantitative Target 12%+ ROE Acquisition of U.S. shale gas business: Transaction closed on July 14 (local time) and will begin contributing to profits. Key Progress in FY2026 LNG Canada: Achieved 100th cargo shipment milestone in Q1. Acquisition of salmon farming operations: Profit contribution began in Q1. Key Progress in FY2026 Oil and gas price assumptions reflect pricing prior to the recent developments in the Middle East.
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1 © Copyright 2026 Mitsubishi Corporation FY2026 Q1 Summary Results 5 1 Underlying operating CF: [Operating cash flow excluding changes in working capital]* + repayment of lease liabilities. * Net income (including non-controlling interests) - DD&A - profits and losses related to investing activities - equity in earnings of affiliated companies not recovered through dividends - allowance for bad debt etc. - deferred tax. 2 Adjusted consolidated net income includes capital recycling gains and losses and one-time items in asset turnover-type businesses such as certain real estate and power businesses. For further detail, please refer to Net Income Detail. 3 For detail by segment, please refer to Summary Results by Segment. Underlying o perating CF and consolidated net income increased year on year due to favorable market conditions in the Australian steelmaking coal business and the copper business, as well as increased transactions associated with the start-up of production at LNG Canada. Steady generation of adjusted consolidated net income continuesto drive solid progress toward our full-year guidance. Contingency buffers remain in place to mitigate potential prolonged impacts from the evolving situationin the Middle East. (¥ bn, except per share amounts) FY2025 Q1 FY2026 Q1 Change3 FY2026 Forecast Progress Underlying operating CF 1 250.4 341.2 +90.8 1,250.0 27% Consolidated net income 2 203.1 298.5 +95.4 1,100.0 27% Adjusted consolidated net income 165.7 269.6 +103.9 820.0 33% Capital recycling gains / losses 15.2 44.7 +29.5 160.0 28% One-time items 22.2 (15.8) (38.0) 120.0 - Dividend per share ¥125
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1 © Copyright 2026 Mitsubishi Corporation 6 Update for ongoing developments in the Middle East Major impacts by segment (excludes potential upside of higher oil prices) Blue: Not included in the initial forecast Materialized as of FY2026 Q1 Projected from FY2026 Q2 onward Energy & Power Solution [ + ] Valuation gains / losses on petroleum product trading positions at period end. [ – ] Decline in profitability upon realization of petroleum product trading positions.2 Materials Solution [ + ] Increase in profit driven by higher market prices in the trading business. [ + ] Increase in profit driven by higher market prices in the basic chemicals business. [ – ] Decrease in equity-method income due to lower shipment volumes at SPDC. [ – ] Opportunity losses and decline in profitability in the trading business due to lower shipment volumes and higher charter rates. Mineral Resources [ – ] Decline in profitability in the Australian steelmaking coal business due to higher fuel costs. [ – ] Decline in profitability in the Australian steelmaking coal business due to higher fuel costs. Urban Development & Infrastructure － － Mobility [ – ] Lower vehicle sales, as well as lower transaction volumes to the Middle East in the automotive business. [ – ] Lower vehicle sales, as well as lower transaction volumes to the Middle East in the automotive business. Food Industry － － Smart-Life Creation － － Limited impact reported across business segments. Considering the expected impacts across each business, we have maintained our contingency buffers within the “Other” segment (¥30 billion in consolidated net income and ¥23 billion in underlying operating CF). 1 For further detail, please refer to Assumptions and Sensitivities 2 Downside risk to petroleum sales revenue due to procurement difficulties is lower than previously expected. We i nitially anticipated disruption to continue through the first half of FY2026 , however, the situation remains fluid and the likelihood of a prolonged impact has increased. Even under a conservative scenario where current conditions persist through fiscal year-end, the overall earnings impact is expected to remain broadly in line with our initial assumptions . The potential upside from higher oil prices 1 is not included below. We will assess the potential for an upward revision to our full- year guidance in Q2.
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1 © Copyright 2026 Mitsubishi Corporation Cash Flow Allocation & Leverage 7 Cash InCash Out CS 2027 FY2025 - FY2027 CF Allocation (Released May 1, 2026) FY2025 Q4 FY2026 Q1 Details Underlying Operating CF ¥3.6 trillion+ ¥1.0 trillion / ¥1,048.1 billion ¥0.3 trillion / ¥341.2 billion • Solid progress across our businesses. • FY2026 full-year outlook: ¥1.25 trillion. Divestitures1 ¥2.1 trillion+ ¥0.5 trillion / ¥496.0 billion ¥0.2 trillion / ¥211.8 billion Debt Financing We will strategically use leverage while preserving financial soundness, capping our net D/E ratio at approximately 0.6x during CS 2027. Investments1 ¥4.6 trillion+ ¥1.2 trillion / ¥1,162.0 billion ¥0.1 trillion / ¥137.3 billion Shareholder Returns ¥2.5 trillion+ ¥1.5 trillion ¥1,466.2 billion FY2026 forecast (as previously announced) ¥0.5 trillion • Forecast dividend: ¥125 per share. • Cash dividends paid to non-controlling interests. Note: In calculating the net D/E ratio, 50% of the hybrid financing balance is deducted from net interest -bearing debt (numerator) and added to equity attributable to owners of the parent (denominator). 1 Cash flow from investing activities + equity transactions with non-controlling interests − surplus fund management (changes in time deposits or acquisitions / disposals of short-term investments) − adjustments of cash balance associated with business acquisitions / disposals Leverage as at June 30, 2026 Equity and Debt 0.38x Net D/E ratio 3.7 Net interest - bearing debt 9.9 Equi ty Alongside solid underlying operating CF, we completed several divestitures e.g. the redemption of preferred shares in Chiyoda Corporation. Cash inflows remain on track with the Corporate Strategy 2027 (CS2027) plan, while we continue to rigorously screen and prioritize investment opportunities. (¥ trillion) Sustaining CAPEX FY2026 Key ProjectsPlan Investment Progress Enhance Reshape Create 0.2 0.6 0.3 0.8 * 0.1 ¥1.3 trillion+ ¥2.0 trillion+ ¥1.3 trillion+ Eneco, Australian steelmaking coal business, salmon farming business - *U.S. shale gas business (invested in FY2026 Q2) • Redemption of preferred shares in Chiyoda Corporation. • Collection of deferred payment related to the divestiture of two Australian steelmaking coal mines. • Sale of shares in Ryohin Keikaku. FY2026 Key Projects FY2025 FY2026
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1 © Copyright 2026 Mitsubishi Corporation Segment Underlying operating CF YoY Change Details Energy & Power Solution +51.4 +85% [ + ] Increase in transactions due to the start-up of North American LNG / Equity LNG marketing business. Increase in dividend income from the Asia-Pacific LNG business. Materials Solution +11.2 +43% [ + ] Increase in market prices in the basic materials business. Mineral Resources +45.8 +114% [ + ] Increase in market prices in the Australian steelmaking coal business and the copper business. Urban Development & Infrastructure +10.3 +94% [ + ] Timing difference in the recording of dividend income in the Japanese data center business. Mobility (1.3) (5%) － Food Industry (2.7) (12%) [ – ] Margin decline in the overseas grain business. Smart-Life Creation (17.2) (34%) [ + ] Settlement payment related to litigation at Mitsubishi Shokuhin. [ – ] Absence of previous FY dividend income from Lawson’s prior-year retained earnings. Other (6.7) (51%) Unallocated income / expenses and intersegment eliminations. Three months ended June 30, 2026 341.2 Three months ended June 30, 2025 250.4 +90.8 +36% 13.1 49.9 23.2 27.0 11.0 40.1 25.9 60.2 6.4 32.7 20.5 25.7 21.3 85.9 37.1 111.6 Summary Results by Segment (Underlying operating CF) 8 （¥ bn） Note: • FY2025 results have been restated to reflect the integration of the Environmental Energy and Power Solution segments into the c ombined Energy & Power Solution segment, effective April 1, 2026, as well as changes to the internal interest allocation methodology.
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1 © Copyright 2026 Mitsubishi Corporation Segment Consolidated net income YoY Change Details Energy & Power Solution +31.2 +77% [ + ] Increase in transactions due to the start-up of North American LNG / Equity LNG marketing business. Increase in dividend income from the Asia-Pacific LNG business. Materials Solution +5.3 +42% [ + ] Increase in market prices in the basic materials business. [ – ] Provision in the performance materials business. Mineral Resources +59.1 +215% [ + ] Increase in market prices in the Australian steelmaking coal business and the copper business. Urban Development & Infrastructure (6.7) (18%) [ + ] Revaluation gain due to reclassification of Chiyoda Corporation as an equity-method affiliate. [ – ] Absence of previous FY gain on construction completion in the energy infrastructure-related business and sale in the Japanese real estate development business. Mobility +4.1 +15% [ + ] Foreign exchange gains and increased vehicle sales in the ASEAN automotive business. Food Industry +14.4 +66% [ + ] Gain on sale in the overseas food materials business. Increase in earnings in the salmon farming business following the acquisition of Grieg Seafood ASA operations. [ – ] Absence of previous FY gain on the sale of TH Foods. Provision and margin decline in the overseas grain business. Smart-Life Creation (7.3) (26%) [ + ] Settlement payment related to litigation at Mitsubishi Shokuhin. Increase in sales at Lawson. [ – ] Absence of previous FY reversal of deferred tax liabilities at Lawson. Provision for pending litigation associated with a divested investment. Absence of previous FY effect from the fiscal year-end change of Mitsubishi HC Capital's subsidiaries. Other (4.7) (50%) Unallocated income/expenses and intersegment eliminations. Three months ended June 30, 2026 298.5 Three months ended June 30, 2025 203.1 +95.4 +47% 9.4 27.8 21.8 27.1 36.3 27.5 12.5 40.7 4.7 20.5 36.2 31.2 29.6 86.6 17.8 71.9 Summary Results by Segment (Consolidated net income) 9 （¥ bn） Note: • FY2025 results have been restated to reflect the integration of the Environmental Energy and Power Solution segments into the c ombined Energy & Power Solution segment, effective April 1, 2026, as well as changes to the internal interest allocation methodology.
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1 © Copyright 2026 Mitsubishi Corporation 10 203.1 34.0 17.0 53.0 +28.9 FY2025 Q1 FY2026 Q1 Commodity prices2 Foreign exchange2 Energy & Power Solution • Oil & Gas (2.0) • LNG (2.0) Mineral Resources • Steelmaking Coal + 19.0 • Copper +20.0 • Iron Ore (1.0) Adjusted consolidated net income 165.7 269.6 Capital recycling and one-time items from previous FY Increase / decrease of adjusted consolidated net income +104.0 Capital recycling and one-time items from current FY O ne - time items 22.2 Previous FY Gain on construction completion in energy infrastructure-related business (12.0) Gain on sale of TH Foods (9.0) Reduction in tax expenses due to capital reduction in European business (7.0) Current FY Gain on sale in the overseas food materials business +23.0 Revaluation gain due to reclassification of Chiyoda Corporation as an equity-method affiliate +19.0 Pension plan amendment (6.0) Consolidated net income1 Other factors by segment (¥ bn) Energy & Power Solution +35.0 Mineral Resources +11.0 Materials Solution +10.0 S.L.C. +4.0 Other +2.0 Food Industry +1.0 Mobility +1.0 Urban Development & Infrastructure (10.0) 1 Adjusted consolidated net income includes capital recycling gains and losses and one-time items in asset turnover-type businesses such as certain real estate and power businesses. For further detail, please refer to Net Income Detail. 2 Actual results are affected by factors such as differences in fiscal year-ends among consolidated companies and the timing of price recognition. For further detail, please refer to Assumptions and Sensitivities. Capital recycling 15.2 44.7 (15.8) 298.5 （ 37.4 ） 28.9 Increase / decrease of capital recycling and one - time items (8.5) Summary Results by Segment (Consolidated net income bridge)
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© Copyright 2026 Mitsubishi Corporation 1 Total (Full-Year Basis)1 Beyond “Enhance” and “Reshape,” we systematically evaluate all businesses through a best -ow ner lens to optimize our portfolio, including underperforming and low -growth investments. Under Corporate Strategy 2027, we are strengthening our asset base through disciplined capital recycling. • Sale of MC-U BSR ¥84.1bn • Partial sale of U.K. power retail assets ¥23.9bn • Sale of aluminum smelting bus iness ¥6.5bn Under MCS 2024, approx. ¥450bn of gains were realized , while accelerated capital recovery created additional capacity for capital allocation. ¥91.1bn ¥295.5bn ¥42.9bn Major Capital Recycling Gains / Losses by Investment FY2026 Forecast Capital Recycling under Midterm Corporate Strategy 2024 and Corporate Strategy 2027 approx. ¥ 250.0 bn approx. ¥ 25.0 bn approx. 40 companies Investments Exited Invested Capital E arnings Shortfall E liminated 2 Across all businesses, we regularly assess whether MC is the best owner based on strategic fit, growth potential, and capitalefficiency, identifying opportunities for portfolio optimization. MCS 2024 Underperforming Investment Optimization Recent Example Turnaround Progress and Early Redemption of Preferred Shares Chiyoda Corporation Five - Year Turnaround Plan Key Outcomes Rationale for Amendment to Preferred Share Terms Impact on FY2026 Results FY2022 FY2023 FY2024 ¥56.4bn • Sale of overseas investment ( Food Industry) ¥36.9bn • Sale of overseas investment ( Environmental Energy) ¥16.5bn • Sale of overseas investment ( Mobility) ¥15.5bn • Partial sal e of shares in Lawson to a strategic partner ¥122.5bn • Sale of two Australian steelmaking c oal mines ¥92.9bn • Sale of KFC Holdings Japan ¥20.5bn Capital Recycling Track Record 1 Excludes asset turnover-type businesses such as certain real estate and power businesses. 2 Represents the shortfall between actual returns generated by investees and the required earnings, calculated by applying MC’s required rate of return to invested capital. This metric does not represent losses or improvements in consolidated net income f or the fiscal year. FY2025 FY2026 Q1 ¥160.0bn • Consolidation of Indonesian automobile sales company ¥10.8bn • Sale of TH Foods ¥9.1bn • Sale in the overseas food m aterials business ¥23.4bn • Amendment to pr eferred share terms in Chiyoda Corporation ¥18.8bn In 2019, we invested ¥70.0 billion in preferred shares and c ommitted substantial resources to Chiyoda’s turnaround. Together with Chiyoda, w e enhanced project screening and project management capabilities. While the plan’s net income target was not achieved, pr ojects secured during the turnaround period remained profitable, and Chiyoda restored positive shareholders’ equity. We supported the execution of Chiyoda’s Business Plan 2025, f urther strengthening its financial position. Accelerate capital recovery and enhance capital efficiency f ollowing the stabilization of Chiyoda’s financial position. Support Chiyoda’s transition to a m ore self-sustaining operating model. Previously unrealized v alue from our turnaround initiatives materialized upon the amendment to the preferred share terms. ¥55.1 billion was recovered i n FY2026 through the redemption of preferred shares and dividend payments. The remaining approximately ¥33.0 billion is also expected to be recovered early ahead of schedule. Market Cap at Turnaround Plan Announcement (MC’s Equity Share) approx . ¥ 24.0 bn Market Cap as of June 2026 (MC’s Equity Share) approx. ¥ 63.0 bn Investments Exited Invested Capital Earnings Shortfall E liminated 2 approx. ¥ 3 50.0 bn [approx. ¥50.0bn] approx. ¥ 40.0 bn [approx. ¥4.0bn] approx. 30 companies [approx. 5 companies] 11 Continued Capital Recycling and Redeployment under Corporate Strategy 2027 MCS 2024 (Actual) CS 2027 (Planned) [Completed] We will continue to rigorously review our portfolio and ownership strategy. CS 2027
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1 © Copyright 2026 Mitsubishi Corporation Reinforcing the earnings base + 70 + Approx. 180 companies Executed projects + 115 Executed projects + 30 Rebound of core businesses + 25 Transformation of existing businesses + 35 + Executed projects + 145 Further profit growth through “Enhance” and “Reshape” + 125 + Expected to be realized by FY2026 year-end4 + 30 Further detail: pages 13-14 Progress + 175 + 300+ Total profit growth1 Enhance Reshape Expected to be realized by FY2026 year-end4 + 60 We expect profit contributions of approximately ¥145 billion from projects executed as of the end of FY2025. In addition to t he recovery of core businesses that have temporarily experienced earnings declines, we expect to achieve our targets through the expansion of and additional investment in existing businesses, operational efficiency initiatives to strengthen earnings capacity, and capital restructuring. Progress and Breakdown of “Enhance” and “Reshape” Profit Growth Through FY2027 (No change from the FY2025 Results and FY2026 Forecast announcement) 1 Estimated incremental profit growth in FY2027 versus FY2024, attributable to “Enhance” and “Reshape”. 2 FY2027 oil and gas price assumptions reflect market conditions prior to the recent developments in the Middle East. 3 Primarily businesses identified as underperforming or low -growth under Midterm Corporate Strategy 2024 (MCS2024) retained for continued ownership. 4 Represents the difference between the FY2026 adjusted consolidated net income forecast of approx. ¥820 billion and the FY2024 adjusted consolidated net income results of approx. ¥680 billion, excluding the expected FY2026 profit contribution from “Create” initiatives of approx. ¥50 billion. (¥ bn) Enhancing profitability in existing businesses via expansion and additional investments MCS 2024 / continued holdings3 Continuous execution of earnings improvement plans Examples of key executed projects Resource businesses Start of production at LNG Canada Re-entry into Malaysia LNG Tiga project Non-resource businesses Profit from asset turnover-type businesses, both complete and in development (including reduced losses in the North American real estate business) Acquisition of salmon farming operations Full consolidation of Mitsubishi Shokuhin Capital restructuring of the automotive business in Indonesia Rebound of temporarily underperforming businesses Automotive business (including increased sales in ASEAN (Thailand / Indonesia)) Salmon farming business (including improved productivity and strengthened processing capabilities) + 30+ Enhance 2.0 + 40+ Enhance 1.0 Recovery in steelmaking coal volumes Reinforcing the earnings base (includes the effects of favorable resource market conditions 2 and reduced equity production volumes) Latest Breakdown (as of the end of FY2025) 12 Non-resource businesses Non-resource businesses Resource businesses Resource businesses Reinforcing the earnings base + 25 + Non-resource businesses Progress (as of the end of FY2025)
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1 © Copyright 2026 Mitsubishi Corporation 1 Excludes profit contribution from the acquisition of salmon farming operations. 2 Business activities and expected profit growth of investees (unlisted companies) disclosed as major affiliates and related companies. Category Examples of Key Initiatives Progress and Outlook Forecasted Growth in Adjusted Consolidated Net Income (vs. FY2024) Resource Businesses Profit contribution from the start-up and stable operations of LNG Canada. Profit contribution from the re-entry into the Malaysia LNG Tiga project. LNG Canada is expected to begin contributing to profit growth in FY2026, with full contribution anticipated in FY2027. The Tiga project has already begun contributing to profits. Non-Resource Businesses Profit generation from executed and in-development asset turnover-type businesses. Profit contribution from the acquisition of salmon farming operations. Industry consolidation through M&A and capital actions ahead of changes in the business environment. The turnaround of the North American real estate business is progressing, resulting in a reduction of losses. Profit contributions from other asset turnover- type businesses are expected primarily in FY2027. Acquisition effects in the salmon farming business are expected to partially contribute to earnings in FY2026, with further profit growth expected in FY2027. The full consolidation of Mitsubishi Shokuhin and the capital restructuring of the Indonesian automotive business have been completed, with full-scale profit contribution expected in FY2026. Efforts continue to further enhance earnings from executed projects, while multiple potential projects remain under consideration. Salmon Farming1,2 Productivity improvement across all regions. Expansion of value-added processing to enhance profitability and strengthen resilience to market conditions. Increased production enabled by the acquisition of additional licenses in Norway during MCS 2024. Productivity improvement measures are progressing steadily, including the stabilization of production volumes through disease control. Looking ahead, initiatives including the development and automation of in-house processing in Chile, the strengthening of overall salmon processing capabilities, and the expansion of production capacity in Norway are expected to drive a planned recovery in performance by FY2027. ASEAN (Thailand / Indonesia) Automotive2 Launch of a new mid-size SUV in Indonesia, developed through market-in product planning aligned with local market needs. Strengthening customer retention and enhancing sales- operation efficiency through AI and DX-driven marketing initiatives. Due to the delayed recovery of credit conditions and a prolonged economic downturn, demand is expected to rebound more slowly than initially anticipated. Despite continued market weakness, steady profit growth is expected by FY2027, supported by sales momentum from new model launches, strengthened after-sales services, and efficient sales initiatives targeting replacement demand among existing customers. Executed Projects Rebound of Core Businesses FY2026 Forecast FY2027 Forecast + 60+ + 145+ + 25 + 14 The key initiatives and progress under “Enhance” and “Reshape”, together with profit growth forecasts for FY2026- F Y2027 versus FY2024 are summarized below: 13 Note: Figures are approximate. FY2027 Forecast FY2026 Forecast Plans and Progress under “Enhance” and “Reshape” (No change from the FY2025 Results and FY2026 Forecast announcement) (¥ bn) (¥ bn) (as of the end of FY2025)
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1 © Copyright 2026 Mitsubishi Corporation Category Examples of Key Initiatives Progress and Outlook Forecasted Growth in Adjusted Consolidated Net Income (vs. FY2024) Americas and European Power1 Enhancing the value of power generation assets by capturing growing electricity demand in the Americas. Improving supply–demand balance in Europe through battery storage and AI and DX utilization. Progress is being made toward early implementation in the Americas. In Europe, accelerated battery storage development and AI-enabled power supply–demand forecasting are underway, with effectiveness confirmed and partial profit contributions anticipated in FY2025. Retail and Food Distribution & Logistics1 Improving Lawson’s average daily sales through AI-driven demand forecasting, as well as strengthened promotional collaboration with KDDI. Enhancing product development capabilities at Mitsubishi Shokuhin through effective data utilization. At Lawson, initiatives such as AI-driven optimization of product offerings and member-exclusive promotions for “Ponta Pass” drove earnings growth, resulting in a new record-high profit in FY2025. Mitsubishi Shokuhin also achieved a record-high profit for the fifth consecutive year. Building on initiatives including the strengthening of data-driven product development capabilities, efforts will continue to deepen collaboration with retailers. Farm, Dairy & Meat Products1 Strengthening earnings power through productivity gains, cost reductions, and value-add enhancements in Japan. Capturing growing overseas demand by strengthening manufacturing operations and value-add processing overseas. In addition to favorable Japanese chicken market conditions, steady progress was achieved in FY2025, primarily in the Japanese business, supported by the positive effects of ongoing productivity-improvement initiatives. Looking ahead, earnings expansion is targeted both in Japan and overseas through the examination and execution of capital expenditures to strengthen cost competitiveness, as well as growth investments to reinforce existing businesses. Food & Wellness1 Capturing production and sales in the food ingredients business through capacity-expansion investments made in prior years. Expansion of food and health ingredient sales and growing the blended seasonings business in the U.S. Production increases at key food ingredients plants are underway, alongside initiatives to expand sales of key products such as yeast extract. Looking toward FY2027, efforts will focus on further earnings expansion through productivity improvements at plants, growth investments in higher value-added business areas, and other related initiatives. Industrial Machinery1 Profit improvement in the construction machinery rental business through cost reductions and enhanced asset efficiency by leveraging DX measures. Expansion of project earnings in the plant and infrastructure-related import and export business, including spare parts. In FY2025, steady progress was achieved through improved operating efficiency and enhanced customer value, supported by initiatives such as online rentals. Looking toward FY2027, efforts are underway to optimize the product portfolio through data visualization. In the plant and infrastructure-related import and export business, profits are expected to decline temporarily through FY2026 due to gaps between projects, but a return to profit growth is anticipated in FY2027. Resource Businesses Stabilization of operations and recovery of production volumes in the steelmaking coal business. Continued productivity improvements and enhanced cost competitiveness. Production volumes in the steelmaking coal business are targeted to reach 43-45 million tons. However, the timeline may be delayed by approximately one to two years due to factors such as rainfall impacts. In addition, continued productivity improvements, enhanced cost competitiveness, and favorable resource market conditions are anticipated. Reinforcing the Earnings Base (Select businesses expected to deliver strong profit growth) 14 FY2026 Forecast FY2027 Forecast FY2026 Forecast FY2027 Forecast FY2026 Forecast FY2027 Forecast FY2026 Forecast FY2027 Forecast FY2026 Forecast FY2027 Forecast + 18 + 5 + 9+ 8 + 6 + 4 + 4 + 2 + 3 (2) 1 Business activities and expected profit growth of investees (unlisted companies) disclosed as major affiliates and related comp anies. Plans and Progress under “Enhance” and “Reshape” (cont’d) (No change from the FY2025 Results and FY2026 Forecast announcement) Note: Figures are approximate. (¥ bn) (¥ bn) (¥ bn) (¥ bn) (¥ bn) Undisclosed + 25 FY2027 Forecast FY2026 Forecast (¥ bn) (as of the end of FY2025)
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1 © Copyright 2026 Mitsubishi Corporation Corporate Strategy 2027 Key Investment Projects Announced 15 Key projects announced at FY2025 Q2 Copper (Chile) Definitive agreement for a joint mine plan with AAS’s adjacent copper mines Around 2030 (Expected start of production) Limited additional capital investment Average annual copper production volume increase of approximately 12,000 MT on an equity basis (compared with standalone operations) Copper (U.S.) Agreement to acquire shares in a copper mining project Consideration for equity interest: ¥61 billion Development costs: ¥26 billion Average annual copper production volume increase of approximately 30,000 MT on an equity basis Around 2029 (Expected start of production) Reshape Create 1 Estimated increase in profit from FY2026 onward due to the increase of our equity stake from 50.1% to 100% (calculated based on Mitsubishi Shokuhin’s actual FY2024 net profit). Segment Business Description Start of profit contribution Profit contribution LNG (North America) First cargo shipped from LNG Canada Investment Undisclosed LNG equity production capacity: Increase of 2 MTPAFY2026 Next-Generation Energy Agreement to invest in a biofuel production and sales business ¥8 billion Undisclosed Marine Products Agreement by Cermaq to acquire three salmon farming businesses ¥145 billion (enterprise value) + ¥10 billion+ (Contribution expected in FY2027)FY2026 Key projects announced at FY2025 Q1 Food Distribution Full consolidation of Mitsubishi Shokuhin ¥138 billion FY2025 + approximately ¥10 billion1 Enhance Enhance Reshape Create Note: Figures are approximate SAF production: 150,000 KL / year (MC’s equity share:18.6%) ー Invested (FY2025 Q3) Invested (FY2025 Q4) Invested (FY2025 Q3) ー Investment progress (as of FY2026 Q1) Invested (FY2025 Q4)
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1 © Copyright 2026 Mitsubishi Corporation Corporate Strategy 2027 Key Investment Projects Announced (cont’d) 16 Segment Business Description Start of profit contribution Profit contribution LNG (Asia) Final Investment Decision for Brunei Offshore Gas Development Project Investment ¥40 billion Gas production: Approximately 2.9 MTPA (MC’s equity share: 18.75%) Natural gas (North America) Acquisition of U.S. Shale Gas Business 1 ¥800 billion (on a 100% basis) + ¥50 - ¥60 billion (Represents 75% equity contribution, expected in FY2027) Key projects announced at FY2025 Q3 Enhance Create Note: Figures are approximate 1 For further details, please refer to the project briefing materials. Around 2030 (Expected start of production) FY2026 (Transaction closed on July 14, local time) Investment progress (as of FY2026 Q1) Partially Invested (FY2025 Q4~) (Invested FY2026 Q2)
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1 © Copyright 2026 Mitsubishi Corporation 1 Dividend per share has been retroactively adjusted in line with the January 1, 2024 stock split (three-for-one; pre-split dividend x 1/3; rounded to the nearest whole number). 2 Under CS 2027, rather than setting a KPI for post-shareholder returns FCF, our strategy is to maintain financial soundness while also considering the use of leverage and targeting a net D/E ratio of up to approximately 0.6x. 44 45 50 60 70 100 110 125 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 配当総額 自己株式取得 1株当たり配当（円） 115% 53% 290 200 630 31% 890 92% 370 42% 400 175% 600 1,000 400290260220200 FY2027 200 38% 200 70 400 （*1） 460 1,400 - % In light of improved visibility into earnings growth, we will increase the dividend by ¥15 per share. (Announced on May 1, 2026) 17 Dividends: We wi ll continue to implement progressive dividends based on the dividend per share. A ny further dividend increases will be determined after assessing earnings performance and improvements in underlying operating CF. In FY2025, we increased the dividend per share from ¥100 to ¥110, and in FY2026, we will further increase it to ¥125. Share buybacks: We will flexibly assess the appropriate deployment of unallocated cash capacity between investments and additional shareholder returns, with a continued focus on growth and profitability. Total payout ratio: Although there is no total payout ratio target for CS2027, the three-year average total payout ratio for FY2025 to FY2027 is expected to exceed the 40% target set under MCS 2024. CS2027: Maintain progressive dividends and flexible share buybacks. (¥ bn, except per share amounts) Total dividends Share buybacks Dividend per share (¥)1 Total Note: Figures are approximate. Total Payout ratio MCS 2024 CS 2027 (3-year average Total Payout Ratio) Target for Total Payout Ratio: around 40％ Exceeds the 40％ target in MCS 2024 Under MCS 2024, financial soundness improved through a strategy of positive post- shareholder returns FCF 2, enabling the rebalancing of accumulated capital. Continued Progressive Dividends Corporate Strategy 2027 Shareholder Return Policy (No change from the announcement on May 1, 2026) 115% 22%24% 30% 42% 52%38% 42% Dividend Payout ratio Total payout ratio based on information publicly announced to date Share buybacks to be considered on a flexible basis.
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Progress of Net Income by Segment Net Income by Segment Income Statement Items by Segment Balance Sheet Items by Segment Segment Detail Supplementary Information to the Consolidated Financial Statements 2 Notes - Historical r esults have been restated to reflect the integration of the Environmental Energy and Power Solution segments into the combined Energy & Power Solution segment, effective April 1, 2026, as well as changes to the internal interest allocation methodology. - Net I ncome Detail section: “Asset turnover” represents gains and losses from asset turnover-type businesses (real estate and power generation businesses where capital gains are realized upon sale following project development).
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2 © Copyright 2026 Mitsubishi Corporation FY2026 Full-Year Guidance (¥ bn) Announced on May 1st Progress Progress Status － Total 298.5 1,100.0 27% － Other 4.7 109.0 4% Gain on sale recorded in the overseas food materials business in Q1. Provision recorded in Q1 and margin declined in the overseas grain business. Earnings in the salmon farming business are weighted toward H2. Expected gain/loss on the sale of subsidiary shares from Q2 onward. Mobility 31.2 104.0 30% Food Industry 36.2 99.0 37% [+] Progress in line with the Q1 forecast, reflecting seasonality and other factors. [+] [ー] Smart-Life Creation 20.5 120.0 17% [ー] [+] Earnings in the Australian steelmaking coal business are weighted toward Q1. Increase in market prices in the copper business. Urban Development & Infrastructure 29.6 75.0 39% Revaluation gain recorded in Q1 following the reclassification of Chiyoda Corporation as an equity-method affiliate. Mineral Resources 86.6 180.0 48% North American LNG / Equity LNG marketing business benefited from a concentration of spot sales in Q1. Consolidation and restructuring of the U.S. shale gas business is expected from Q2 onward. Materials Solution 17.8 50.0 36% Increase in market prices in the basic materials business. Provision recorded in the performance materials business in Q1. Energy & Power Solution 71.9 363.0 20% Net income for three months ended Jun 30, 2026 [+] [ー] [+] [ー] [+] 19 Progress of Net Income by Segment （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation (¥ bn) FY2025 40.7 64.6 66.8 37.9 210.0 FY2026 71.9 － － － － FY2025 12.5 8.9 9.5 (1.9) 29.0 FY2026 17.8 － － － － FY2025 27.5 19.1 62.5 106.1 215.2 FY2026 86.6 － － － － FY2025 36.3 7.5 27.0 16.2 87.0 FY2026 29.6 － － － － FY2025 27.1 12.9 26.8 (6.4) 60.4 FY2026 31.2 － － － － FY2025 21.8 13.9 25.9 25.1 86.7 FY2026 36.2 － － － － FY2025 27.8 24.9 28.7 17.0 98.4 FY2026 20.5 － － － － FY2025 9.4 0.9 4.8 (1.3) 13.8 FY2026 4.7 － － － － FY2025 203.1 152.7 252.1 192.6 800.5 FY2026 298.5 － － － － Full-year ending Mar 31 Three months ending Dec 31 Three months ending Dec 31 Total Mobility Food Industry Smart-Life Creation Other Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Three months ending Sep 30 Three months ended Jun 30 20 Net Income by Segment (Quarterly) （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation of which are One-time items of which are Capital recycling gains / losses (¥ bn) Total from Asset turnover-type businesses Other (B) Total from Asset turnover-type businesses Other (C) FY2025 40.7 － － － 6.7 － 6.7 34.0 FY2026 71.9 (4.3) (4.3) － － － － 71.9 FY2025 12.5 － － － － － － 12.5 FY2026 17.8 (5.5) － (5.5) － － － 23.3 FY2025 27.5 － － － (3.5) － (3.5) 31.0 FY2026 86.6 － － － 2.5 － 2.5 84.1 FY2025 36.3 12.4 － 12.4 16.0 12.9 3.1 20.8 FY2026 29.6 － － － 18.8 － 18.8 10.8 FY2025 27.1 － － － － － － 27.1 FY2026 31.2 － － － － － － 31.2 FY2025 21.8 － － － 8.9 － 8.9 12.9 FY2026 36.2 (2.4) － (2.4) 23.4 － 23.4 15.2 FY2025 27.8 9.8 － 9.8 － － － 18.0 FY2026 20.5 (1.5) － (1.5) － － － 22.0 FY2025 9.4 － － － － － － 9.4 FY2026 4.7 (6.4) － (6.4) － － － 11.1 FY2025 203.1 22.2 － 22.2 28.1 12.9 15.2 165.7 FY2026 298.5 (20.1) (4.3) (15.8) 44.7 － 44.7 269.6 Total Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Mobility Food Industry Smart-Life Creation Other Adjusted consolidated net income (A-B-C) Consolidated net income for three months ended Jun 30 (A) 21 Net Income Detail （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation Three months Three months Three months Three months Full-year (¥ bn) ended Jun 30 ending Sep 30 ending Dec 31 ending Mar 31 ending Mar 31 Energy & FY2025 Total － － 24.1 (16.3) 7.8 Power Solution Tax gain due to prior year losses following the start of production at LNG Canada Train 2 － － 24.1 0.9 25.0 (Asset turnover) Impairments and other losses in the Japanese power generation business － － － (15.1) (15.1) Provision for gas processing costs in the Canadian shale gas business － － － (2.1) (2.1) FY2026 Total (4.3) － － － － (Asset turnover) Provision and other losses in the Japanese power generation business (4.3) － － － － Materials Solution FY2025 Total － － － (25.8) (25.8) Impairment in the Saudi petrochemicals business － － － (14.2) (14.2) Impairment in the basic chemicals-related business － － － (5.9) (5.9) Impairment in the performance materials business － － － (5.7) (5.7) FY2026 Total (5.5) － － － － Provision in the performance materials business (5.5) － － － － Mineral Resources FY2025 Total － － 0.7 53.2 53.9 Partial reversal of impairments previously recorded in the Chilean copper business (AAS) － － － 53.2 53.2 Reduction of financial liabilities in the copper business － － 2.9 － 2.9 Provision in the copper business － － (2.2) － (2.2) FY2026 Total － － － － － 22 Net Income Detail One-Time Items （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation Three months Three months Three months Three months Full-year (¥ bn) ended Jun 30 ending Sep 30 ending Dec 31 ending Mar 31 ending Mar 31 Urban Development FY2025 Total 12.4 (0.4) 12.4 0.1 24.5 & Infrastructure Improved profitability resulting from contract amendment for Chiyoda Corporation’s U.S. Golden Pass LNG project － － 12.4 － 12.4 Gain on construction completion in energy infrastructure-related business 12.4 (0.4) － 0.1 12.1 FY2026 Total － － － － － Mobility FY2025 Total － (2.1) － (38.0) (40.1) Impairment in Mitsubishi Motors － － － (35.7) (35.7) Impairment of fixed assets in TOYO TIRE － － － (2.3) (2.3) Gain related to change in the consolidation scope of Mitsubishi Motors － (2.1) － － (2.1) FY2026 Total － － － － － Food Industry FY2025 Total － － 6.2 4.2 10.4 Valuation gain due to change in fair value measurement methodology for Cermaq’s biological assets － － 6.2 － 6.2 Tax gain resulting from the application of preferential tax treatment at Agrex do Brasil － － － 4.2 4.2 FY2026 Total (2.4) － － － － Provision at Agrex do Brasil (2.4) － － － － 23 Net Income Detail One-Time Items (cont’d) （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation Three months Three months Three months Three months Full-year (¥ bn) ended Jun 30 ending Sep 30 ending Dec 31 ending Mar 31 ending Mar 31 Smart-Life Creation FY2025 Total 9.8 0.5 － (2.2) 8.1 Reversal of tax effect related to dividends from Lawson's prior-year retained earnings 6.2 － － － 6.2 Effect of the change of fiscal year-end of Mitsubishi HC Capital's subsidiaries 3.6 0.5 － － 4.1 Goodwill impairment in the Chinese healthcare business － － － (2.2) (2.2) FY2026 Total (1.5) － － － － Settlement payment related to litigation at Mitsubishi Shokuhin 4.4 － － － － Provision for litigation associated with a divested investment (5.9) － － － － Other FY2025 Total － － － － － FY2026 Total (6.4) － － － － Pension plan amendment (6.4) － － － － 24 Net Income Detail One-Time Items (cont’d) （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation Three months Three months Three months Three months Full-year (¥ bn) ended Jun 30 ending Sep 30 ending Dec 31 ending Mar 31 ending Mar 31 Energy & FY2025 Total 6.7 18.8 － 6.0 31.5 Power Solution Gain in the Japanese offshore wind power business (including tax gain due to withdrawal from process) － 9.7 － － 9.7 (Asset turnover) Gain on sale of Japanese power generation assets － 9.1 － － 9.1 Reduction in tax expenses due to capital reduction in European business 6.7 － － － 6.7 (Asset turnover) Gain on sale of U.S. power generation assets － － － 6.0 6.0 FY2026 Total － － － － － Materials Solution FY2025 Total － － － (2.7) (2.7) Losses related to sale of the performance materials business － － － (2.7) (2.7) FY2026 Total － － － － － Mineral Resources FY2025 Total (3.5) (4.2) 1.3 0.5 (5.9) Adjustment on sale of two Australian steelmaking coal mines (3.5) (4.2) 1.3 0.5 (5.9) FY2026 Total 2.5 － － － － Adjustment on sale of two Australian steelmaking coal mines 2.5 － － － － Urban Development FY2025 Total 16.0 2.1 0.9 7.0 26.0 & Infrastructure (Asset turnover) Gain on sale of projects of Japanese and overseas real estate development businesses 12.9 2.1 0.9 4.4 20.3 Gain on deconsolidation of overseas water infrastructure business 3.1 － － － 3.1 (Asset turnover) Gain on sale of an affiliate － － － 2.6 2.6 FY2026 Total 18.8 － － － － Revaluation gain due to the reclassification of Chiyoda Corporation as an equity-method affiliate 18.8 － － － － 25 Net Income Detail Capital Recycling Gains / Losses （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation Three months Three months Three months Three months Full-year (¥ bn) ended Jun 30 ending Sep 30 ending Dec 31 ending Mar 31 ending Mar 31 Mobility FY2025 Total － － － 10.8 10.8 Fair value remeasurement gain on previously held interests upon the consolidation of an Indonesian automobile sales company － － － 10.8 10.8 FY2026 Total － － － － － Food Industry FY2025 Total 8.9 0.1 － 12.2 21.2 Gain related to the acquisition of Grieg Seafood ASA operations － － － 12.1 12.1 Gain on sale of TH Foods 8.9 0.1 － 0.1 9.1 FY2026 Total 23.4 － － － － Gain on sale in the overseas food materials business 23.4 － － － － Smart-Life Creation FY2025 Total － － － － － FY2026 Total － － － － － Other FY2025 Total － － － － － FY2026 Total － － － － － 26 Net Income Detail Capital Recycling Gains / Losses (cont’d) （Icons link to “Segment Detail”）
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2 © Copyright 2026 Mitsubishi Corporation FY2025 Q1 (¥ bn) Gross profit 62.8 51.3 44.8 42.1 41.0 68.3 55.1 3.0 368.5 SG&A expenses (53.5) (38.7) (22.0) (35.5) (24.9) (54.9) (52.7) (8.1) (290.5) Dividend income 3.5 3.5 14.0 0.2 3.8 2.0 2.4 1.1 30.6 Income from investments accounted for using the equity method 41.8 7.3 11.6 34.4 11.5 4.3 27.9 0.0 138.7 Net income 40.7 12.5 27.5 36.3 27.1 21.8 27.8 9.4 203.1 Depreciation, Depletion and Amortization (26.4) (5.8) (16.9) (11.8) (2.7) (14.3) (6.6) (7.7) (92.4) FY2026 Q1 (¥ bn) Gross profit 109.7 66.6 82.3 43.8 48.9 85.7 56.7 3.5 497.2 SG&A expenses (67.0) (40.6) (24.9) (37.8) (27.9) (71.8) (55.8) (21.0) (346.8) Dividend income 15.7 4.7 34.9 0.3 4.1 2.3 2.1 1.2 65.3 Income from investments accounted for using the equity method 36.8 1.6 29.2 7.0 16.4 37.0 22.8 0.0 150.9 Net income 71.9 17.8 86.6 29.6 31.2 36.2 20.5 4.7 298.5 Depreciation, Depletion and Amortization (38.8) (5.8) (19.2) (12.1) (3.1) (17.5) (7.4) (6.1) (110.1) Urban Development & Infrastructure Mineral Resources Materials Solution Energy & Power Solution Urban Development & Infrastructure Mineral Resources Materials Solution Energy & Power Solution Mobility TotalOtherSmart-Life Creation Food IndustryMobility TotalOtherSmart-Life Creation Food Industry Income Statement Items by Segment 27
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2 © Copyright 2026 Mitsubishi Corporation Balance Sheet Items by Segment (as at June 30, 2026) 28 (¥ bn) Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Mobility Food Industry Smart-Life Creation Other Total Total assets 5,893.4 1,999.1 5,809.6 1,686.1 1,936.0 2,375.8 2,662.5 1,087.3 23,449.8 Cash and cash equivalents, Time deposits 143.4 26.8 217.5 23.1 131.5 68.6 19.3 1,149.8 1,780.1 Trade and other receivables1, Inventories 1,420.2 1,226.4 2,030.8 437.7 933.2 694.7 756.8 (829.6) 6,670.2 Investments accounted for using the equity method2 1,317.0 321.7 908.1 730.2 549.3 347.6 1,189.8 1.0 5,364.7 Property, plant and equipment, Investment property2 1,505.7 132.6 1,184.2 181.2 52.0 402.6 62.4 93.3 3,613.9 Intangible assets and goodwill3 367.7 19.9 3.0 15.1 28.0 330.2 39.1 21.3 824.2 Right-of-use assets2 389.2 20.8 22.8 65.5 4.6 77.3 71.3 84.2 735.6 Other investments2 400.5 188.7 583.0 70.9 192.6 148.5 317.1 261.8 2,162.9 Trade and other payables 1 574.9 550.7 567.3 209.1 209.5 232.0 593.6 (6.9) 2,930.2 1 Current and non-current total. 2 Please refer to the table below for a breakdown of the balance sheet items in the Energy & Power Solution segment and the Mineral Resources segment. 3 More than half is comprised of intangible assets (including those subject to amortization). Goodwill includes amounts attributable to non-controlling interests. Breakdown of Balance Sheet Items: Energy & Power Solution segment and Mineral Resources segment (as at June 30, 2026) Energy & Power Solution Mineral Resources (¥ bn) Natural Gas / LNG Power Other MDP Copper Other Investments accounted for using the equity method 658.8 590.9 67.3 0.3 707.7 200.1 Property, plant and equipment, Investment property 751.6 724.8 29.3 1,183.8 0.0 0.4 Intangible assets and goodwill 1.3 362.3 4.1 0.3 0.0 2.7 Right-of-use assets 320.3 68.5 0.4 20.1 0.0 2.7 Other investments 339.1 42.3 19.1 0.1 542.9 40.0
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2 © Copyright 2026 Mitsubishi Corporation Balance Sheet Items by Segment (as at March 31, 2026) 29 (¥ bn) Energy & Power Solution Materials Solution Mineral Resources Urban Development & Infrastructure Mobility Food Industry Smart-Life Creation Other Total Total assets 6,079.0 1,971.4 5,995.2 2,173.8 1,942.7 2,334.1 2,745.5 910.1 24,151.7 Cash and cash equivalents, Time deposits 216.8 33.2 126.4 170.5 113.4 63.7 19.5 1,115.2 1,858.7 Trade and other receivables1, Inventories 1,573.5 1,178.9 2,004.2 767.1 969.3 708.5 770.7 (921.7) 7,050.5 Investments accounted for using the equity method2 1,299.4 326.0 903.0 652.8 535.3 307.6 1,187.5 1.3 5,213.0 Property, plant and equipment, Investment property2 1,480.2 132.2 1,161.0 189.3 54.1 393.4 63.4 92.9 3,566.5 Intangible assets and goodwill3 368.4 19.8 3.1 100.3 29.5 331.4 39.4 21.6 913.4 Right-of-use assets2 386.3 21.0 20.6 58.8 2.7 74.9 72.1 84.5 720.9 Other investments2 396.1 176.3 579.3 60.2 202.3 155.4 406.2 277.9 2,253.7 Trade and other payables 1 720.9 534.1 555.1 325.6 209.6 241.2 592.6 (36.6) 3,142.6 1 Current and non-current total. 2 Please refer to the table below for a breakdown of the balance sheet items in the Energy & Power Solution segment and the Mineral Resources segment. 3 More than half is comprised of intangible assets (including those subject to amortization). Goodwill includes amounts attributable to non-controlling interests. Breakdown of Balance Sheet Items: Energy & Power Solution segment and Mineral Resources segment (as at March 31, 2026) Energy & Power Solution Mineral Resources (¥ bn) Natural Gas / LNG Power Other MDP Copper Other Investments accounted for using the equity method 603.9 594.3 101.2 0.3 702.8 199.9 Property, plant and equipment, Investment property 743.1 708.3 28.8 1,160.6 0.0 0.4 Intangible assets and goodwill 1.4 363.1 3.9 0.3 0.0 2.8 Right-of-use assets 316.5 69.2 0.6 17.6 0.0 3.0 Other investments 328.4 42.6 25.1 0.1 538.3 40.9
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2 © Copyright 2026 Mitsubishi Corporation (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 60.2 111.6 51.4 645.0 17% [+] Consolidated net income 40.7 71.9 31.2 363.0 20% Consolidated net income detail One-time items － (4.3) (4.3) from Asset turnover-type businesses (A) － (4.3) (4.3) Assumptions1 Other － － － Crude Oil (Brent) Capital recycling gains / losses 6.7 － (6.7) Prices US$78/BBL Comments (Progress) from Asset turnover-type businesses (B) － － － Sensitivities ¥2.4 billion [+] Other 6.7 － (6.7) Natural Gas (Henry Hub) Other (C) 34.0 76.2 42.2 Prices US$3.9/MMBtu [ー] Ref: Adjusted consolidated net income (A+B+C) 34.0 71.9 37.9 Sensitivities ¥3.4 billion North American LNG / Equity LNG marketing business benefited from a concentration of spot sales in Q1. Consolidation and restructuring of the U.S. shale gas business is expected from Q2 onward. Increase in transactions due to the start-up of North American LNG / Equity LNG marketing business. Increase in dividend income from the Asia-Pacific LNG business. Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Natural Gas, LNG (Asia-Pacific) Disclosed Companies / Businesses Total 26.8 35.8 9.0 Business in Asia － － 12.9 12.0 (0.9) Business in Pacific － － 12.9 7.9 (5.0) Dividend income from business in Asia-Pacific － － 1.0 15.9 14.9 Natural Gas, LNG（North America） Disclosed Companies / Businesses Total 6.2 31.6 25.4 Business in North America / Equity LNG Marketing － － 6.2 31.6 25.4 Petroleum-related business Disclosed Companies / Businesses Total 6.7 7.6 0.9 Astomos Energy Corporation (Japan) Affiliate 49.0 4.7 4.4 (0.3) Mitsubishi Corporation Energy Co., Ltd. (Japan) Subsidiary 100.0 2.0 3.2 1.2 Power-related business Disclosed Companies / Businesses Total 5.5 2.1 (3.4) N.V. Eneco (Netherlands) Subsidiary 80.0 0.6 (0.8) (1.4) Diamond Generating Corporation (U.S.) Subsidiary 100.0 5.1 3.1 (2.0) Diamond Generating Asia, Limited (Hong Kong) Subsidiary 100.0 1.7 2.8 1.1 Mitsubishi Corporation Energy Solutions Ltd. (Japan) Subsidiary 100.0 (1.9) (3.0) (1.1) The figures above include consolidation adjustments (FY2025: -¥1.6 bn, FY2026: -¥1.8 bn) to equity earnings, such as DD&A on assets measured at fair value at the time of the acquisition of Eneco. * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. Segment Detail Energy & Power Solution: Financial Performance 30 Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. 1 Forecast uses average prices over the period. Sensitivity (crude oil: US$1/BBL, natural gas: US¢10/MMBtu) refers to the estimated impact on full-year net income forecast. For further detail, please refer to Overview of Major Subsidiaries and Affiliates. 2 2
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2 © Copyright 2026 Mitsubishi Corporation • Power generation • Transportation • Industrial heat sources Cameron LNG Expansion DAC 3 Project Clean Hydrogen / Ammonia Qalhat LNG Oman LNG Sakhalin 2 Browse Development Wheatstone LNG North West Shelf Montney Shale Gas LNG Canada Cameron LNG BEC 1 Iraq Production ( Crude Oil & Gas) AI Carbon (Carbon Credit Business) NextGen ( Carbon Credit Business) PDI 2 Astomos Energy Corporation Mitsubishi Corporation Energy LNG Canada Expansion AP Ventures ( Hydrogen - related Venture Investments ) Wakayama SAF 4 Clean Hydrogen e - fuels Carbon Credit, etc. Biofuels ■Execution & Operation Phase ■Planning Phase Brunei LNG DGE 5 Donggi - Senoro LNG Tangguh LNG Malaysia LNG (Satu / Dua / Tiga) • Capacity based on equity in each project • MTPA: Million Tons Per Annum Growth Outlook of LNG Equity Production Capacity Next-Generation Energy Products Accommodate decarbonization demand from various industries 1 Breakthrough Energy Catalyst 2 Petro-Diamond Inc. 3 Direct Air Capture 4 Sustainable Aviation Fuels 5 Diamond Global Energy 2025 Early 2030s 13 MTPA LNG Canada 2 MTPA 18 MTPA+ Hawaii Renewables (Renewable Fuel Business) New Projects Depletion Expansion projects, LNG offtake* 3 MTPA Haynesville Shale Gas *Offtake volumes from third - party LNG plants as outlined in CS 2027 under "Natural Gas Value Chain" 31 Segment Detail Energy & Power Solution: Global Portfolio - Energy Business
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2 © Copyright 2026 Mitsubishi Corporation Project Country Production Capacity (MTPA) Other Key Shareholders Total MC’s Equity Share Brunei LNG Brunei 7.2 1.8 25% Brunei Gov. (50%), Shell (25%) Malaysia LNG I (Satu) Malaysia 8.4 0.4 5% PETRONAS (90%), Sarawak Gov. (5%) Malaysia LNG II (Dua) Malaysia 9.6 1.0 10% PETRONAS (80%), Sarawak Gov. (10%) Malaysia LNG III (Tiga) Malaysia 7.7 0.8 10% PETRONAS (55%), Sarawak Gov. (25%), ENEOS Xplora（10%） North West Shelf Australia 14.3 1.2 8.33% Woodside (33.3%), Shell, bp, Chevron, MIMI (16.7% each) Oman LNG Oman 7.6 0.2 2.77% Oman Gov. (51%), Shell (30%), TotalEnergies (5.54%) Qalhat LNG Oman 3.8 0.2 4% Oman Gov. (57.2%), Oman LNG (36.8%) Sakhalin 2 Russia 9.6 1.0 10% Gazprom (77.5%), Mitsui & Co. (12.5%) Tangguh LNG Indonesia 11.4 1.1 9.92% bp (40.2%), MI Berau (16.3%), KG Berau (8.6%) Donggi - Senoro LNG Indonesia 2.0 0.9 44.9% Sulawesi LNG Development (59.9%), PT Pertamina Hulu Energi (29%) Wheatstone LNG Australia 8.9 0.3 3.17% Chevron (64.136%), KUFPEC (13.4%) Cameron LNG U.S. 12.0 4.0 33.3%1 Sempra Infrastructure (50.2%), Mitsui & Co., TotalEnergies (16.6% each) LNG Canada Canada 14.0 2 .1 15%1 Shell (40%), PETRONAS (25%), PetroChina (15%), KOGAS (5%) Total 116.5 14.9 1 MC’s offtake ratio Segment Detail Energy & Power Solution: Global Portfolio - LNG Business 32
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2 © Copyright 2026 Mitsubishi Corporation 3,630 4,230 4,800 4,800 600 0 FY2026 Q1 Existing Assets Under Construction FY2026 Q1 Total 1,970 2,340 2,490 2,690 2,940 3,360 4,110 4,590 4,880 6,220 6,110 5,890 5,390 5,060 5,000 4,660 4,820 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Generation Capacity on a Net Equity Basis (as of June 30, 2026) (MW) Americas 2,160 MW 1,160MW 29 0 MW Japan 340MW 1,590 MW Asia, Oceania, and the Middle East 260MW Europe 760 MW 1,870MW Generation capacity of non-renewable energy (net equity basis) Generation capacity of renewable energy (net equity basis) Eneco (Netherlands) An integrated energy company active primarily in the Netherlands, Belgium, and Germany . Mitsubishi Corporation Energy Solutions (MCES / Japan) Development and operation of power generation business . Diamond Generating Asia (DGA / Hong Kong) Development and operation of power generation business in Asia, Oceania and the Middle East region. Diamond Generating Corporation Mexico (Mexico) Development and operation of power generation business. Nexamp (U.S.) Distributed solar generation business. Diamond Generating Corporation (DGC / U.S.) Development and operation of electric power business. Existing capacity: renewable Existing capacity: non-renewable Divested cumulative capacity: renewable Divested cumulative capacity: non-renewable Segment Detail Energy & Power Solution: Global Portfolio - Electric Power Business 33
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2 © Copyright 2026 Mitsubishi Corporation Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Essential Materials Disclosed Companies / Businesses Total 0.2 0.3 0.1 Cape Flattery Silica Mines Pty, Ltd. (Australia) Subsidiary 100.0 0.2 0.3 0.1 Steel Products Disclosed Companies / Businesses Total 3.7 4.5 0.8 Metal One Corporation (Japan) Subsidiary 60.0 3.7 4.5 0.8 Performance Materials Disclosed Companies / Businesses Total 3.6 (2.1) (5.7) Performance materials-related business companies － － 3.6 (2.1) (5.5) (5.7) Basic Materials Disclosed Companies / Businesses Total 2.4 6.2 3.8 SPDC Ltd. (Japan) Affiliate 33.3 (0.7) (0.2) 0.5 Mitsubishi Shoji Chemical Corporation (Japan) Subsidiary 100.0 0.7 1.7 1.0 Mitsubishi Corporation Plastics Ltd. (Japan) Subsidiary 100.0 0.9 1.1 0.2 Overseas chemical trading businesses － － 1.1 3.1 2.0 Basic chemicals-related business companies － － 0.4 0.5 0.1 * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 25.9 37.1 11.2 79.0 47% [+] Increase in market prices in the basic materials business. Consolidated net income 12.5 17.8 5.3 50.0 36% [ー] Provision in the performance materials business. Consolidated net income detail Comments (Progress) One-time items － (5.5) (5.5) [+] Increase in market prices in the basic materials business. Capital recycling gains / losses － － － [ー] Provision recorded in the performance materials business in Q1. Adjusted consolidated net income 12.5 23.3 10.8 34 Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Segment Detail Materials Solution: Financial Performance
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2 © Copyright 2026 Mitsubishi Corporation 35 • Silica sand • Cement, ready-mix concrete Main Products Major Subsidiaries & Affiliates Australia: Mining and sale of silica sand Cape Flattery MCC / MCCD U.S.: Production and sale of cement and ready-mixed concrete P OSCO MC Materials South Korea: Production and sale of needle coke Essential Materials Building supply chains around upstream essential materials • Steel products A utomotive businesses (Japan, U.S., Mexico, Thailand, etc.) Construction machinery businesses (India, Brazil, etc.) Energy businesses (Canada and Italy) Construction businesses (Japan) Metal One Major affiliates Distribution, processing, and Sale of steel products Main Products Major Subsidiaries & Affiliates Steel Products Optimizing steel distribution through Metal One’s global network of over 100 locations and investments • Full range of performance and resin materials Main Products Major Subsidiaries & Affiliates Japan: Production and sale of various functional materials TOYOBO MC Riken Americas U.S.: Production and sale of resin compounds Amfine U.S.: Production and sale of resin additives Performance Materials Developing specialized performance materials for each industry / region North American plastic building materials business U.S.: Production and sale of plastic building materials • Petrochemicals (petroleum- based raw materials such as plastics and polyester) • Basic chemicals (primary raw materials for natural-gas based products and materials) Main Products Major Subsidiaries & Affiliates Canada: Production of synthetic rubber raw materials Diamond Petrochemicals SPDC (SHARQ) Saudi Arabia: Petrochemicals METOR Venezuela: Methanol production Basic Materials Establishing an industry presence based on chemicals trading Mitsubishi Shoji Chemical Japan: Sale of chemical products, including solvents and paints Mitsubishi Corporation Plastics Japan: Sale of plastic raw materials and products IVICT companies Sale of commodity chemicals (Singapore, China, Thailand, Germany) • Salt • E thanol • Carbon materials (needle coke, etc.) Segment Detail Materials Solution: Business Overview
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2 © Copyright 2026 Mitsubishi Corporation Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Steelmaking Coal Disclosed Companies / Businesses Total 7.5 33.7 26.2 Mitsubishi Development Pty Ltd. (Australia) [BMA] Subsidiary 100.0 7.5 (3.5) 33.7 2.5 26.2 Copper Disclosed Companies / Businesses Total 15.8 37.1 21.3 JECO Corporation (Japan) [Escondida] Subsidiary 70.0 4.7 9.6 4.9 JECO 2 Ltd. (U.K.) [Escondida] Affiliate 50.0 1.1 2.3 1.2 MC Copper Holdings B.V. (Netherlands) [Los Pelambres] Subsidiary 100.0 0.0 2.8 2.8 M.C. Inversiones Limitada (Chile) [Anglo American Sur etc.] Subsidiary 100.0 (0.3) 4.4 4.7 MCQ Copper Ltd. (U.K.) [Quellaveco] Subsidiary 100.0 10.3 18.0 7.7 Iron Ore Disclosed Companies / Businesses Total 0.5 1.7 1.2 Iron Ore Company of Canada (Canada) Affiliate 26.2 0.7 (1.0) (1.7) M.C. Inversiones Limitada (Chile) [CMP etc.] Subsidiary 100.0 (0.2) 2.7 2.9 Trading Disclosed Companies / Businesses Total 3.1 7.8 4.7 Mitsubishi Corporation RtM International Pte. Ltd. (Singapore) Subsidiary 100.0 2.1 5.8 3.7 Mitsubishi Corporation RtM Japan Ltd. (Japan) Subsidiary 100.0 1.0 2.0 1.0 The Mineral Resources segment also recognizes dividend income from Compañía Minera Antamina (FY2025: ¥2.9bn, FY2026: ¥10.3bn). * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 40.1 85.9 45.8 208.0 41% [+] Consolidated net income 27.5 86.6 59.1 180.0 48% Assumptions1 Copper (LME) Prices US$11,883/MT Consolidated net income detail Sensitivities ¥2.6 billion One-time items － － － Iron Ore (CFR China) Comments (Progress) Capital recycling gains / losses (3.5) 2.5 6.0 Prices US$105/MT [+] Adjusted consolidated net income 31.0 84.1 53.1 Sensitivities ¥0.74 billion Increase in market prices in the Australian steelmaking coal business and the copper business. Earnings in the Australian steelmaking coal business are weighted toward Q1. Increase in market prices in the copper business. 36 For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. 1 Forecast uses average prices over the period. Sensitivity (copper: US$100/MT, iron ore: US$/MT) refers to the estimated impact on full-year forecasted net income. 2 2 Segment Detail Mineral Resources: Financial Performance
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2 © Copyright 2026 Mitsubishi Corporation 37 Segment Detail Mineral Resources: Global Portfolio Los Pelambres (Chile) BMA (Australia) IOC （ Iron Ore Company of Canada ） (Canada) Turnagain (Canada) PAK Lithium (Canada) Antamina (Peru) Escondida (Chile) CAP (Chile) Anglo American Sur (Los Bronces, etc.) (Chile) Quellaveco (Peru) CMP (Compañía Minera del Pacífico) (Chile) Marimaca (Chile) Kalgoorlie Nickel Projec t (Australia) ■ Steelmaking Coal ■ Copper ■ Iron Ore ■ Bauxite ■ Low Carbon Aluminum ■ Nickel ■ Lithium ■ Fertilizer Resource 〇 Operating Asset ☆ Exploration, F/S, or Under Development Product Project Country CY2025 Production Volume Main Partners MC’s Equity Share Steelmaking Coal BMA Australia Steelmaking Coal, etc., 36 mil. MT BHP 50.00% Copper Escondida Chile Copper 1,307 kt BHP, Rio Tinto 8.25% Los Pelambres Chile Copper 295 kt Luksic Group (AMSA) 5.00% Anglo American Sur Chile Copper 207 kt Anglo American, Codelco 20.44% Antamina Peru Copper 368 kt, Zinc 384 kt BHP, Glencore, Teck 10.00% Quellaveco Peru Copper 310 kt Anglo American 40.00% Arctial (Finland) Aurukun (Australia) Copper World (U.S.) Woodsmith (U.K.)
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2 © Copyright 2026 Mitsubishi Corporation 6.9 6.8 6.0 6.3 6.4 6.6 4.9 4.9 5.1 5.0 5.7 5.9 4.9 5.0 5.1 5.0 3.8 3.9 4.5 4.3 4.9 4.5 4.8 4.4 5.4 5.2 4.1 3.9 4.4 4.7 4.3 4.4 6.1 5.9 5.2 4.6 4.4 4.5 3.9 3.8 3.8 3.9 22.7 22.1 21.6 21.1 18.7 18.8 17.8 17.6 18.1 17.7 5.7 5.9 0 10 20 30 40 （mil. mt） Apr-Jun Jul-Sep Oct-Dec Jan-Mar 38 Segment Detail Mineral Resources: Steelmaking Coal Operation 1 Quarterly figures may not necessarily add up to total annual figures due to rounding. 2 Annual production and sales including contribution from the Blackwater and Daunia mines, divested on April 2, 2024. 3 The above exchange rates differ from the effective rates applied to MDP ’s transactions. BMA production increased 10% year-on-year to 5.7Mt from April to June 2026. The increase was supported by solid stripping performance at the open cut operations . Raw coal inventory also continued to build steadily as part of initiatives to strengthen operational stability. Source: Mitsubishi UFJ Research and Consulting USD / AUD Average Exchange Rate3 USD / AUD FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Period Q1–Q4 Q1–Q4 Q1–Q4 Q1–Q4 Q1–Q4 Q1 Average Rate 0.7392 0.6849 0.6578 0.6522 0.6625 0.7092 During April-June 2026, premium hard coking coal (FOB Australia) prices averaged US$238/t, up from the previous quarter . Prices were driven primarily by increased steelmaking coal demand associated with the start-up of new blast furnaces in India, along with supply constraints at certain Australian coal mines . Spot procurement by Chinese consumers following tighter production controls in Shanxi Province after a mine accident also contributed to the price increase. Thereafter, the market softened as production resumed at Chinese coal mines and demand weakened following the onset of the monsoon season in India . By late July, prices had declined to around US$220/t. While demand growth in India continues to underpin the market, Chinese steel exports remain at elevated levels. Although supply -demand conditions are showing signs of improvement, a fundamental recovery in the steelmaking coal market is likely to take time. Price Trends of Seaborne Steelmaking Coal BMA Annual Production and Sales Volume1 (50% Equity Basis) FY2021 FY2022 FY2023 FY2024 FY2025 30.22 29.52 28.72 28.12 25.82 26.22 FY2026 0 100 200 300 400 500 600 CFR China FOB US FOB Australia(US$/t)
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2 © Copyright 2026 Mitsubishi Corporation 21 9 3 13 24 24 10 3 13 29 28 9 3 11 32 25 13 3 12 29 24 11 3 15 31 26 12 4 12 30 27 6 4 10 31 26 10 3 11 30 23 10 4 11 35 25 11 5 10 27 27 10 4 11 33 21 12 5 13 37 28 9 5 10 36 26 11 4 11 28 89 42 15 52 127 102 43 16 45 123 108 37 15 42 124 51 24 7 23 59 Escondida Antamina Los Pelambres AAS Quellaveco Escondida Antamina Los Pelambres AAS Quellaveco Escondida Antamina Los Pelambres AAS Quellaveco Escondida Antamina Los Pelambres AAS Quellaveco (kt) Jan-Mar Apr-Jun Jul-Sep Oct-Dec Total 325 CY2023 Total 329 CY2024 Total 326 CY2025 Total 164 CY2026 Note: Quarterly figures may not necessarily add up to total annual figures due to rounding. Segment Detail Mineral Resources: Copper Business 39 Anglo American Sur (AAS) • Los Bronces copper production increased 25% year-on-year to 46kt in April to June 2026 , driven by the restart of the second plant at the beginning of the year, sustained recovery in plant performance and mine compliance. • El Soldado copper production decreased 17% year-on-year to 9.6kt in April to June 2026, reflecting lower throughput and planned lower ore grades. Quellaveco (AAQ) • Quellaveco copper production decreased 2% year-on-year to 75kt in April to June 2026, reflecting expected lower ore grades despite higher throughput and recovery. Escondida • Escondida copper production decreased 5% year-on-year to 312kt in April to June 2026 , reflecting expected lower ore grades despite higher throughput and recovery. LME Copper Price (Monthly Average) Summary* Equity Share Production Volumes * Production is stated on a 100% equity basis for each project. (US$/t) 6,000 8,000 10,000 12,000 14,000 FY2022 FY2023 FY2024 FY2025 FY2026
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2 © Copyright 2026 Mitsubishi Corporation Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Urban Development-related Disclosed Companies / Businesses Total 16.4 2.2 (14.2) business Diamond Realty Investments, Inc. (U.S.) Subsidiary 100.0 1.1 (2.8) (3.9) Diamond Realty Management Inc. (Japan) Subsidiary 100.0 0.5 0.9 0.4 Mitsubishi Corporation Urban Development, Inc. (Japan) Subsidiary 100.0 12.5 1.6 (10.9) ASEAN urban development-related business companies － － 2.3 2.5 0.2 Industrial Machinery Disclosed Companies / Businesses Total 2.8 2.6 (0.2) Airport operation related business companies － － 0.7 0.5 (0.2) Nikken Corporation (Japan) Subsidiary 100.0 1.1 0.8 (0.3) Mitsubishi Corporation Technos (Japan) Subsidiary 100.0 (0.2) 0.0 0.2 Mitsubishi Corporation Machinery, Inc. (Japan) Subsidiary 100.0 1.2 1.3 0.1 Infrastructure, Ship & Aerospace Disclosed Companies / Businesses Total 18.0 Chiyoda Corporation (Japan) Affiliate (listed) 33.5 1.8 Commercial vessels-related business companies － － 0.6 1.8 1.2 Energy infrastructure-related business companies － － 15.6 12.4 4.5 (11.1) * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 11.0 21.3 10.3 66.0 32% [+] Consolidated net income 36.3 29.6 (6.7) 75.0 39% Consolidated net income detail One-time items 12.4 － (12.4) from Asset turnover-type businesses (A) － － － Other 12.4 － (12.4) Comments (Progress) Capital recycling gains / losses 16.0 18.8 2.8 [+] from Asset turnover-type businesses (B) 12.9 － (12.9) Other 3.1 18.8 15.7 Other (C) 7.9 10.8 2.9 Ref: Adjusted consolidated net income (A+B+C) 20.8 10.8 (10.0) Revaluation gain due to reclassification of Chiyoda Corporation as an equity- method affiliate. [ー] Absence of previous FY gain on construction completion in the energy infrastructure-related business and sale in the Japanese real estate development business. Revaluation gain recorded in Q1 following the reclassification of Chiyoda Corporation as an equity-method affiliate. 40 Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Segment Detail Urban Development & Infrastructure: Financial Performance
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2 © Copyright 2026 Mitsubishi Corporation Japanese Data Center business (Operational Assets) We currently operate eight data centers across three locations in Japan. We regard this as a growth area that will continue to support AI infrastructure and plan to expand our operational assets accordingly. Tokyo Osaka FY2017 … 29MW 54MW 113MW 134MW 168MW (Power supply capacity for servers) FY2019 FY2021 FY2023 FY2025 41 Segment Detail Urban Development & Infrastructure: Global Portfolio - Real Estate and Urban Development Business Vietnam Development Large - scale urban development projects, condominiums Indonesia Development Large - scale urban development projects, condominiums, landed homes, industrial properties Japan Development Large - scale urban development projects, industrial properties, retail properties, offices, hotels, data centers Asset Management Private real estate fund, private REITs Operation Data centers, retail properties, airports North America Development Multifamily, industrial properties, data centers
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2 © Copyright 2026 Mitsubishi Corporation Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change OEM Partners business Disclosed Companies / Businesses Total 0.4 Mitsubishi Motors Corporation (Japan) Affiliate (listed) 22.2 0.4 Value Chain business Disclosed Companies / Businesses Total 16.2 21.4 5.2 Automobile-related business companies in Thailand & Indonesia － － 16.2 21.4 5.2 [Partial breakdown of Automobile-related companies in Thailand and Indonesia] PT. Mitsubishi Motors Krama Yudha Sales Indonesia (Indonesia) Subsidiary 51.0 0.6 0.7 0.1 Mobility Service Disclosed Companies / Businesses Total 2.2 Toyo Tire Corporation (Japan) Affiliate (listed) 20.0 2.2 * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. 42 For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. Segment Detail Mobility: Financial Performance (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 27.0 25.7 (1.3) 111.0 23% [+] Consolidated net income 27.1 31.2 4.1 104.0 30% Consolidated net income detail One-time items － － － Comments (Progress) Capital recycling gains / losses － － － [+] Progress in line with the Q1 forecast, reflecting seasonality and other factors. Adjusted consolidated net income 27.1 31.2 4.1 Foreign exchange gains and increased vehicle sales in the ASEAN automotive business.
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2 © Copyright 2026 Mitsubishi Corporation 1.12 1.00 0.54 0.92 1.05 0.96 0.87 0.83 12.5% 10.7% 10.1% 12.4% 8.6% 8.1% 8.2% 8.6% FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Overall demand (million units) MMC market shareOverall demand in Indonesia and MMC market share 43 Segment Detail Mobility: Global Portfolio - Mitsubishi Motors & Mitsubishi Fuso ■ Distribution ■ Production ■ Automotive finance ■ Retail / After-sales service ■ Other (as of June 30, 2026) Vehicle Sales (April to June 2026) ① Overall demand ② Vehicle sales of MMC/MFTBC ( ): Market share Source: Industrial associations in each country and others. Ukraine ■ MMCU Distribution ① 19 k units ② MMC 0.5 k units (2.7%) Peru ■ ■ Astara Distribution / Dealer ① 71 k units ② MMC 1.7k units (2.4 % ) MFTBC 0.5k units (0.7 % ) 3 Chile ■ ■ Astara Distribution / Dealer ① 79 k units ② MMC 2.7k units (3.4 % ) Vietnam ■ ■ MMV Production / Distribution ① 68 k units ② MMC 10 k units (14.4 % ) Indonesia ■ MMKSI ■ KTB ■ MMKI ■ KRM ■ MKM Poland ■ Astara Distribution ① 180 k units ② MMC 0.4k units (0.2 % ) Russia ■ MMCR Distribution ■ MCBR Automotive finance ① 336 k units ② MMC 0k units ( 0 % ) Portugal ■ ■ Astara Distribution / Dealer ① 84 k units ② MMC 0.3 k units (0.4 % ) Spain ■ ■ Astara Distribution / Dealer ① 401k units ② MMC 1.4k units (0.3 % ) Malaysia ■ MMM Distribution / Contract assembly ① 200 k units ② MMC 3.7 k units (1.8 % ) 1 Passenger car + light commercial vehicle segment market share: 7.9% 2 Commercial vehicle segment market share: 48.4% 3 Commercial vehicle segment market share: 6.1% ■ PMJ ■ DSF ■ DSSM ■ SCO ■ BSI ① 222 k units ② MMC 16 k units ( 7 .1%) 1 MFTBC 10 k units (4.5%) 2 Distribution ( MMC ) Distribution / Contract production ( MFTBC ) Production/Export ( MMC ) Production ( MFTBC ) Engine / Press components production Dealer Automotive finance Used car distribution / purchase Automotive parts distribution IT system Mitsubishi Motors: MMC Mitsubishi Fuso: MFTBC *
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2 © Copyright 2026 Mitsubishi Corporation 1.07 0.94 0.78 0.79 0.83 0.73 0.56 0.65 16.7% 17.6% 24.1% 24.3% 24.4% 17.7% 14.4% 11.3% FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Overall demand (million units) Isuzu shareOverall demand in Thailand and Isuzu market 44 Segment Detail Mobility: Global Portfolio - Isuzu Motors LCV: Light Commercial Vehicle CV: Commercial Vehicle ■ Distribution ■ Export ■ Production ■ Automotive finance ■ Retail / After-sales service ■ Other (as of June 30, 2026) Vehicle Sales (April to June 2026) ① Overall demand ② CV / LCV vehicle sales of Isuzu motors ( ): Market share Source: Industrial associations in each country and others. 1 Omitted, multiple markets 2 Total sales in 8 countries 3 Class 4-7 (GVW6.4t~15t) 4 Pick-up truck segment only Belgium ■ IBX Distribution (Benelux, Germany, Austria, Poland, Czechia, Slovakia) LCV ① … 1 ② 0.7 k units 2 India ■ ■ ■ IMI Production / Distribution / Export LCV ① … 1 ② 3.2 k units (within India 0.5 k units) Philippines ■ ■ IPC Production / Distribution LCV ① 13 k units ② 0.6k units ( 5 % ) C V ① 12 k units ② 2.2 k units (18 % ) Mexico ■ ■ IMEX Production / Distribution C V ① 2.2 k units 3 ② 1.4 k units ( 0.7 k units ( 31 % ) 3 ) Malaysia ■ IMSB Distribution LCV 4 ① 7.7 k units ② 1.3 k units (17 % ) C V ① 3.4k units ② 1.3 k units ( 39 % ) Australia ■ IUA Distribution LCV ① 88 k units ② 11 k units (12 % ) Thailand (Export) ■ IMIT Export LCV ① … 1 ② CBU 27 k units KD 12k units Thailand (Domestic) ■ TIS ■ IMCT ■ IAS ■ AUTEC ■ TISCO ■ TIL ■ TPIS ■ PTB ■ TPIT LC V ① 41 k units ② 14 k units ( 3 3 %) CV ① 5 k units ② 3 k units (55%) : Complete Build Up : Knock Down Parts CBU KD Distribution Production Dealer After-sales service / bus maintenance After-sales service Automotive finance Automotive insurance Driver dispatch IT service
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2 © Copyright 2026 Mitsubishi Corporation (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 23.2 20.5 (2.7) 127.0 16% Consolidated net income 21.8 36.2 14.4 99.0 37% Consolidated net income detail Comments (Progress) One-time items － (2.4) (2.4) [+] Gain on sale recorded in the overseas food materials business in Q1. Capital recycling gains / losses 8.9 23.4 14.5 [ー] Adjusted consolidated net income 12.9 15.2 2.3 Provision recorded in Q1 and margin declined in the overseas grain business. Earnings in the salmon farming business are weighted toward H2. Gain on sale in the overseas food materials business. Increase in earnings in the salmon farming business following the acquisition of Grieg Seafood ASA operations. Absence of previous FY gain on the sale of TH Foods. Provision and margin declined in the overseas grain business. [+] [ー] Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Food Resources Disclosed Companies / Businesses Total 2.7 Agrex do Brasil LTDA. (Brazil) Subsidiary 100.0 0.4 (2.2) (2.4) (2.6) Mitsui DM Sugar Co., Ltd. (Japan) Affiliate (listed) 20.8 0.2 0.7 0.5 Nitto Fuji Flour Milling Co., Ltd. (Japan) Subsidiary (listed) 64.9 0.5 Nosan Corporation (Japan) Subsidiary 100.0 1.6 1.4 (0.2) Marine Products Disclosed Companies / Businesses Total 1.8 6.6 4.8 Cermaq Group AS (Norway) Subsidiary 100.0 0.3 5.2 4.9 Toyo Reizo Co., Ltd. (Japan) Subsidiary 95.1 1.5 1.4 (0.1) Farm, Dairy & Disclosed Companies / Businesses Total 5.6 Meat Products Indiana Packers Corporation (U.S.) Subsidiary 80.0 0.1 (1.3) (1.4) Itoham Yonekyu Holdings Inc. (Japan) Affiliate (listed) 40.8 3.1 Japan Farm Holdings, Ltd. (Japan) Subsidiary 92.7 1.7 2.1 0.4 Foodlink Corporation (Japan) Subsidiary 99.4 0.7 0.9 0.2 Food & Wellness Disclosed Companies / Businesses Total Mitsubishi International Food Ingredients, Inc. (U.S.) Subsidiary 100.0 0.7 0.4 (0.3) Olam Group Limited (Singapore) Affiliate (listed) 14.6 Mitsubishi Corporation Life Sciences Limited (Japan) Subsidiary 100.0 1.2 1.0 (0.2) * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. 45 For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. Segment Detail Food Industry: Financial Performance
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2 © Copyright 2026 Mitsubishi Corporation Segment Detail Food Industry: Global Portfolio - Salmon Farming Business 1 GWE: Gutted Weight Equivalent Fish Species: Atlantic salmon, Coho, Trout, Chinook salmon Relative market size Distribution Europe Japan Rest of Asia North America European m arket prices were supported by Easter-related demand in early April. Thereafter, increased supply driven by favorable growing conditions weighed on the market, with prices declining to NOK 67.2/kg by the end of June. U.S. s almon fillet prices remained steady in April on the back of robust demand . While prices underwent a temporary correction in May, they recovered in June, primarily due to reduced supply from Chile, reaching USD 6.4/lb by month-end. European Market / Fish Pool Index Period: FY2026 Q1 Scale: thousand MT (GWE basis1) Cermaq sales volume by region 40 60 80 100 120 140 （NOK / kg） Cermaq Canada 17.8 Cermaq Chile 15.6 South America 46 Cermaq Norway 36.3 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 2021 2022 2023 2024 2025 2026
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2 © Copyright 2026 Mitsubishi Corporation (¥ bn) Results for three months ended Jun 30 FY2026 Full-year guidance Consolidated net income detail for three months ended Jun 30, 2026 FY2025 FY2026 YoY change as of May 1 Progress Comments (YoY change) Underlying operating cash flow 49.9 32.7 (17.2) 55.0 59% [+] Consolidated net income 27.8 20.5 (7.3) 120.0 17% Consolidated net income detail One-time items 9.8 (1.5) (11.3) Comments (Progress) Capital recycling gains / losses － － － [+] Expected gain/loss on the sale of subsidiary shares from Q2 onward. Adjusted consolidated net income 18.0 22.0 4.0 Settlement payment related to litigation at Mitsubishi Shokuhin. Increase in sales at Lawson. Absence of previous FY reversal of deferred tax liabilities at Lawson. Provision for pending litigation associated with a divested investment. Absence of previous FY effect from the fiscal year-end change of Mitsubishi HC Capital's subsidiaries. [ー] Major Subsidiaries and Affiliates Consolidated net income for three months ended Jun 30 Business Classification Company / Business (Country / Region) Subsidiary / Affiliate Equity (%) FY2025 see note* FY2026 see note* YoY Change Retail Disclosed Companies / Businesses Total 8.8 10.6 1.8 Life Corporation (Japan) Affiliate (listed) 25.6 1.5 1.1 (0.4) Lawson, Inc. (Japan) Affiliate 50.0 7.3 9.5 2.2 Healthcare Disclosed Companies / Businesses Total 0.4 0.9 0.5 MC Healthcare Holdings (Japan) Subsidiary 80.0 0.3 0.7 0.4 Nippon Care Supply Co., Ltd. (Japan) Affiliate (listed) 38.5 0.1 0.2 0.1 Food Distribution Disclosed Companies / Businesses Total 3.8 10.1 6.3 Mitsubishi Corporation Packaging Ltd. (Japan) Subsidiary 100.0 1.2 1.3 0.1 Mitsubishi Shokuhin Co., Ltd. (Japan) Subsidiary 100.0 2.6 8.8 4.4 6.2 Finance & Logistics Disclosed Companies / Businesses Total 12.3 Mitsubishi Corporation LT, Inc. (Japan) Subsidiary 100.0 0.9 0.8 (0.1) Mitsubishi HC Capital Inc. (Japan) Affiliate (listed) 18.0 10.3 3.6 Mitsubishi Auto Leasing Corporation (Japan) Affiliate 50.0 1.0 1.3 0.3 Fund-related business companies － － 0.1 (0.3) (0.4) Mitsubishi Shokuhin Co., Ltd.’s cumulative profit and loss for three months ended June 30, 2025 is based on the profit and loss calculated using the ownership ratio (50.1%) as of the end of June 30, 2025 * One-time items and capital recycling gains / losses excluding asset turnover-type businesses that can be attributed to specific companies or businesses. For reference purposes only. 47 For further detail, please refer to Overview of Major Subsidiaries and Affiliates. Note: For further detail, please refer to Income Statement Items by Segment, Net Income Detail One-Time Items, Net Income Detail Capital Recycling Gains / Losses. Segment Detail Smart-Life Creation: Financial Performance 1 1
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2 © Copyright 2026 Mitsubishi Corporation 48 Segment Detail Smart-Life Creation: Business Overview Private equity fund Asset finance Logistics C2B finance Screening / Clinics Entertainment Apparel Convenience stores Supermarkets Tourism Consumer needs in Japan and overseas Digital Distribution Convenience stores （ L awson ） Apparel （ Maker's Shirt KAMAKURA ） Supermarkets （ LIFE ） Health screening / clinics （ Fullerton Health ） Ｃ Entertainment （ North American Entertainment Complex Business ） (Inner circle) (Outer circle) Private equity fund Distribution （ Mitsubishi Shokuhin ） Logistics （ Mitsubishi Corporation LT ） Digital （ MCD3 ） Asset finance （ Mitsubishi HC Capital ／ Mitsubishi Auto Leasing Corporation ） C2B B2B * Consumer to Business: Consumer and customer-centric businesses that emphasize a market-in approach. We a im to build a unique ecosystem centered on consumer needs. By launching C2B* initiatives that enhance everyday lifestyles and seamlessly integrating them with B2B operations in finance, digital services, and logistics, we are creating a connected and responsive platform. This integrated approach helps address key societal challenges and unlocks sustainable monetization opportunities across multiple markets and geographies. （ Philippine Digital Financial Services Business ）
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Balance Sheet Ratios and Metrics / Exchange Rates Assumptions and Sensitivities Overview of Major Subsidiaries and Affiliates Supplementary Information3
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3 © Copyright 2026 Mitsubishi Corporation FY2025 FY2026 Change ROE and ROA Actual Estimate ROE (Return On Equity)1 8.5% 11.5% 3.0% ROA (Return On Assets)1 3.5% 4.6% 1.1% Equity ratios as at Mar 31 as at Jun 30 Equity attributable to owners of the parent (¥ bn) 9,440.6 9,635.2 194.6 Hybrid capital (¥ bn)2 450.0 450.0 0.0 Net D/E ratio3 0.38 0.38 0.00 Equity per share / BPS (¥)1 2,578 2,631 53 Interest-bearing debt (¥ bn) as at Mar 31 as at Jun 30 Interest-bearing debt (Gross: excluding lease liabilities) 5,746.9 5,719.9 (27.0) Interest-bearing debt (Net: excluding lease liabilities) 3,888.2 3,939.8 51.6 Reference: Lease liabilities 760.9 770.7 9.8 Cash flow (¥ bn) Three months ended Jun 30 Three months ended Jun 30 Dividends from equity method affiliates 115.4 95.5 (19.9) Foreign exchange rates (period end) as at Mar 31 as at Jun 30 JPY / USD 159.88 162.39 2.51 JPY / AUD 109.68 111.56 1.88 JPY / EUR 183.41 185.35 1.94 Foreign exchange rates (average) Three months ended Jun 30 Three months ended Jun 30 JPY / USD 144.59 159.57 14.98 JPY / AUD 92.58 113.16 20.58 JPY / EUR 163.80 185.39 21.59 Consolidated net income and equity are based on amounts attributable to owners of the parent. Ratings agencies equate 50% of the hybrid financing balance with equity. In calculating the Net D/E ratio, 50% of the hybrid financing balance is deducted from net interest-bearing debt (numerator) and added to equity attributable to owners of the parent (denominator). Gross interest-bearing debt and lease liabilities for our automobile sales financing and construction equipment rental businesses are ¥511.6 billion and ¥41.7 billion respectively. 50 1 Balance Sheet Ratios and Metrics / Exchange Rates 2 3 * * *
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3 © Copyright 2026 Mitsubishi Corporation Three months ended June 30, 2026 FY2026 Forecast1 (announced May 1, 2026) Change FY2026 Consolidated Net Income Sensitivities (announced May 1, 2026) 8 Foreign Exchange (JPY / USD) 159.57 150.00 9.57 ¥5.0 billion (JPY / USD)2 Crude Oil3 Brent (USD / BBL) 71 78 （Apr to Dec: 81） (7) ¥2.4 billion (USD / BBL)4 Natural Gas Henry Hub (USD / MMBtu) 2.95 3.90 (0.95) ¥3.4 billion (US¢10 / MMBtu)5 Copper LME (USD / MT) [US¢ / lb] 13,329 [605] 11,883 [539] 1,446 [66] ¥2.6 billion (USD100 / MT)6 [¥5.6 billion (US¢10 / lb)] Steelmaking Coal FOB Australia (USD / MT) 238 Undisclosed Iron Ore7 CFR China (USD / MT) 107 105 （Apr to Dec:105） 2 ¥0.74 billion (USD / MT) Notes: 1 Annual average. 2 Increase or decrease in earnings assuming the April to March average of JPY / USD depreciates or appreciates by ¥1, respectively. Actual results are also affected by factors such as differences in consolidated company fiscal year-ends and cross rates between other currencies. 3 To account for differences in consolidated company fiscal year-ends and the timing of when crude oil prices are reflected in LNG sales prices, we use an average of (a) the 12-month average price from six months prior (e.g. for the year ending March 31: average price from October to September) and (b) the 12-month averageprice from three months prior (e.g. for the year ending March 31: average price from January to December). 4 The impact on actual results is also affected by factors such as foreign currency movements and production/sales volume. Because “Dividend income (after tax)” in the LNG Business is impacted by affiliates’ dividend payout ratios and the timing of their dividend resolutions, etc., the direct impact on this item by crude oilprice fluctuations is currently limited. Accordingly, this item has been excluded from thecalculation of consolidated net income sensitivities for the full fiscal year. 5 The impact on actual results is also affected by factors such as foreign currency movements and production/sales volume. 6 Actual results are also affected by factors such as the grade of mined ore, thestatus of production/operationsand reinvestment plans (capital expenditure). 7 To account for differences in consolidated company fiscal year-ends, we use the 12-month average price from three months prior (e.g. for the year ending March 31 we use the average price from January to December). Actual results are also affected by factors such as the grade of iron ore and the status of production/operations. 8 Following the acquisition of theU.S. shale gas business, natural gasprice sensitivity has been revised from ¥2.7 billion to ¥3.4 billion. Assumptions and Sensitivities 51
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3 © Copyright 2026 Mitsubishi Corporation Business Classification Company / Business (Country / Region) Description Energy & Natural Gas, LNG Business in Asia Production and sale of natural gas and LNG in Asia Power Solution (Asia-Pacific) Business in Pacific Production and sale of natural gas and LNG in Pacific Dividend income from business in Asia-Pacific Consolidated dividend income from affiliates and subsidiaries of LNG business in Asia-Pacific Natural Gas, LNG (North America) Business in North America / Equity LNG Marketing Production and sale of natural gas and LNG in North America and LNG marketing, trading and optimization Petroleum-related business Astomos Energy Corporation (Japan) Import, trading, domestic distribution and sale of LPG Mitsubishi Corporation Energy Co., Ltd. (Japan) Domestic sale and trade (import / export) of petroleum products Power-related business N.V. Eneco (Netherlands) Integrated power business in Europe Diamond Generating Corporation (U.S.) Development and operation of electric power business in North America Diamond Generating Asia, Limited (Hong Kong) Development and operation of power generation business in Asia, Oceania and the Middle East Mitsubishi Corporation Energy Solutions Ltd. (Japan) Development and operation of power generation business in Japan Materials Solution Essential Materials Cape Flattery Silica Mines Pty, Ltd. (Australia) Mining and sale of silica sand Steel Products Metal One Corporation (Japan) Steel products operations Performance Materials Performance materials-related business companies Manufacture and sale of performance materials Basic Materials SPDC Ltd. (Japan) Investment in petroleum and petrochemicals-related businesses Mitsubishi Shoji Chemical Corporation (Japan) Marketing of solvents, paints, coating resins and silicones Mitsubishi Corporation Plastics Ltd. (Japan) Marketing of synthetic raw materials and plastics Overseas chemical trading businesses Sale of commodity chemicals Basic chemicals-related business companies Manufacture and sale of basic chemicals Overview of Major Subsidiaries and Affiliates 52 （Icons link to “Segment Detail”）
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3 © Copyright 2026 Mitsubishi Corporation Business Classification Company / Business (Country / Region) Description Mineral Resources Steelmaking Coal Mitsubishi Development Pty Ltd. (Australia) Investment company for BMA steelmaking coal in Australia Copper JECO Corporation (Japan) Investment company for Escondida copper mine in Chile JECO 2 Ltd. (U.K.) Investment company for Escondida copper mine in Chile MC Copper Holdings B.V. (Netherlands) Investment company for Los Pelambres copper mine in Chile (MC's indirect investment in Los Pelambres: 5%) M.C. Inversiones Limitada (Chile) Mineral resources management company in Latin America, which holds MC's 20.4% indirect investment in Anglo America Sur (Chile) and other businesses MCQ Copper Ltd. (U.K.) Investment company for Quellaveco copper mine in Peru (MC's indirect investment in Quellaveco: 40%) Iron Ore Iron Ore Company of Canada (Canada) Mining, processing, and sale of iron ore M.C. Inversiones Limitada (Chile) Mineral resources management company in Latin America, which holds MC's 25% indirect investment in Compania Minera del Pacifico (Chile) and other businesses Trading Mitsubishi Corporation RtM International Pte. Ltd. (Singapore) Mineral resources and metals trading Mitsubishi Corporation RtM Japan Ltd. (Japan) Mineral resources and metals trading Mitsubishi Corporation's net interest in the Escondida copper mine is 8.25%, through both JECO Corporation and JECO 2 Ltd. Overview of Major Subsidiaries and Affiliates 1 1 53 1 （Icons link to “Segment Detail”）
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3 © Copyright 2026 Mitsubishi Corporation Business Classification Company / Business (Country / Region) Description Urban Development Urban Development-related Diamond Realty Investments, Inc. (U.S.) Real estate investment & Infrastructure business Diamond Realty Management Inc. (Japan) Real estate asset management and investment advisory Mitsubishi Corporation Urban Development, Inc. (Japan) Development and management of commercial properties ASEAN urban development-related business companies Real estate investment Industrial Machinery Airport operation related business companies － Nikken Corporation (Japan) Sale and rental of construction machinery and other equipment Mitsubishi Corporation Technos (Japan) Sale of machine tools and industrial machinery Mitsubishi Corporation Machinery, Inc. (Japan) Export, import and Japanese trading of plants, infrastructure and machine parts Infrastructure, Ship & Chiyoda Corporation (Japan) Integrated engineering business Aerospace Commercial vessels-related business companies Ship ownership, operations and trading business Energy infrastructure-related business companies － Mobility OEM Partners business Mitsubishi Motors Corporation (Japan) Manufacture and sale of automobiles and related parts Value Chain business Automobile-related business companies in Thailand & Indonesia － [Partial breakdown of Automobile-related companies in Thailand and Indonesia] PT. Mitsubishi Motors Krama Yudha Sales Indonesia (Indonesia) Import and sale of automobiles (MMC) Mobility Service Toyo Tire Corporation (Japan) Tire and automotive parts business Overview of Major Subsidiaries and Affiliates 54 （Icons link to “Segment Detail”）
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3 © Copyright 2026 Mitsubishi Corporation Business Classification Company / Business (Country / Region) Description Food Industry Food Resources Agrex do Brasil LTDA. (Brazil) Origination and export of grain, sale of agricultural inputs, and grain production Mitsui DM Sugar Co., Ltd. (Japan) Manufacture and wholesale of sugar products Nitto Fuji Flour Milling Co., Ltd. (Japan) Milling of flour Nosan Corporation (Japan) Manufacture, production and sale of livestock feed, aqua feed, petfood and eggs Marine Products Cermaq Group AS (Norway) Farming, processing and sale of salmon Toyo Reizo Co., Ltd. (Japan) Processing and sale of marine products Farm, Dairy & Indiana Packers Corporation (U.S.) Processing and sale of pork Meat Products Itoham Yonekyu Holdings Inc. (Japan) Manufacture and sale of meats and processed foods Japan Farm Holdings, Ltd. (Japan) Farming of poultry / swine and processing of chicken Foodlink Corporation (Japan) Sale of meat and meat products Food & Wellness Mitsubishi International Food Ingredients, Inc. (U.S.) Distribution of food ingredients, manufacture and sale of custom seasoning blends Olam Group Limited (Singapore) Farming, procurement, processing, product manufacturing and sale of agriproducts Mitsubishi Corporation Life Sciences Limited (Japan) Manufacture and sale of food / health ingredients Overview of Major Subsidiaries and Affiliates 55 （Icons link to “Segment Detail”）
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3 © Copyright 2026 Mitsubishi Corporation Business Classification Company / Business (Country / Region) Description Smart-Life Creation Retail Life Corporation (Japan) Supermarket chain stores Lawson, Inc. (Japan) Convenience store franchise Healthcare MC Healthcare Holdings (Japan) Hospital management solutions, medication and medical equipment distribution Nippon Care Supply Co., Ltd. (Japan) Rental of nursing care equipment Food Distribution Mitsubishi Corporation Packaging Ltd. (Japan) Sale and marketing of packaging products / systems and paper products Mitsubishi Shokuhin Co., Ltd. (Japan) Wholesale and logistics of processed foods, frozen and chilled foods etc. Finance & Logistics Mitsubishi Corporation LT, Inc. (Japan) Warehousing and general logistics services Mitsubishi HC Capital Inc. (Japan) Leasing, installment sales and other financial services Mitsubishi Auto Leasing Corporation (Japan) Auto leasing, installment sales and other financial services Fund-related business companies Formation and management of private equity funds and others Overview of Major Subsidiaries and Affiliates 56 （Icons link to “Segment Detail”）