For The Fiscal Year Ended March 31, 2021

(As of March 31, 2021)Reportable segments (*1)Mitsubishi UFJ Financial Group, Inc. (Parent Company)**The Chukyo Bank, LimitedOtherGlobal Markets Global CommercialBanking **au Jibun Bank CorporationGlobal Corporate &Investment Banking**JACCS CO., LTD.Japanese Corporate &Investment BankingMUFG Bank, Ltd.Retail & CommercialBanking*consolidated subsidiaries, ** equity method investees * MUFG Americas Holdings Corporation * MUFG Bank Mexico, S.A. * Banco MUFG Brasil S.A. * AO MUFG Bank (Eurasia) * MUFG Bank (Europe) N.V. * MUFG Bank Turkey Anonim Sirketi * Bank of Ayudhya Public Company Limited* MUFG Bank (China), Ltd. * PT Bank Danamon Indonesia, Tbk. **Vietnam Joint Stock Commercial Bank for Industry and Trade **Security Bank Corporation Mitsubishi UFJ Trust and Banking Corporation (*2)Mitsubishi UFJ Securities Holdings Co., Ltd. (*2)Mitsubishi UFJ NICOS Co., Ltd. (*2)Mitsubishi UFJ Lease & Finance Company Limited (*2)*1. “ ” indicates major reportable segments under which the respective companies are classified.*2. Mitsubishi UFJ Trust and Banking Corporation, Mitsubishi UFJ Securities Holdings Co., Ltd., Mitsubishi UFJ NICOS Co.,Ltd., and Mitsubishi UFJ Lease & Finance Company Limited are the MUFG Group’s major subsidiaries and affiliates.7

4. Information on Subsidiaries and Affiliates(Parent company)Company nameMitsubishi UFJ Financial Group, Inc.AddressChiyoda-ku, TokyoRatio of voting rightsholding (held) (%)100.00(Consolidated subsidiaries)Company nameAddressRatio of voting rightsholding (held) (%)The Mitsubishi UFJ Factors LimitedChiyoda-ku, Tokyo100.00Mitsubishi UFJ Research and Consulting Co., Ltd.Minato-ku, Tokyo44.92(9.53)MU Frontier Servicer Co., Ltd.Nakano-ku, Tokyo96.47Mitsubishi UFJ Personal Financial Advisers Co., Ltd. Chiyoda-ku, Tokyo47.33TOKYO CREDIT SERVICES, LIMITEDChiyoda-ku, Tokyo47.50(21.50)Mitsubishi UFJ Financial Partners Co., Ltd.Minato-ku, Tokyo100.00MU Business Engineering, Ltd.Chuo-ku, Tokyo100.00New York, New York,the United StatesMexico City,United Mexican StatesSaoPaulo,SaoPaulo,Federative Republic of BrazilMoscow,the Russian FederationAmsterdam,Kingdom of the NetherlandsIstanbul,Republic of TurkeyBangkok,Kingdom of ThailandShanghai,People’s Republic of ChinaJakarta,Republic of IndonesiaKuala Lumpur,MalaysiaJakarta,Republic of IndonesiaMUFG Americas Holdings CorporationMUFG Bank Mexico, S.A.Banco MUFG Brasil S.A.AO MUFG Bank (Eurasia)MUFG Bank (Europe) N.V.MUFG Bank Turkey Anonim SirketiBank of Ayudhya Public Company LimitedMUFG Bank (China), Ltd.PT Bank Danamon Indonesia, Tbk.MUFG Bank (Malaysia) BerhadPT U Finance IndonesiaBangkok,Kingdom of ThailandMUFG Participation (Thailand) Co., Ltd.103 Other 6.88100.0092.47(1.00)100.0084.6912.29(2.29)[57.32]

(Equity method investees)Company nameAddressRatio of voting rightsholding (held) (%)JACCS CO., LTD.Hakodate City, Hokkaido20.31au Jibun Bank CorporationChuo-ku, Tokyo32.76Mitsubishi UFJ Capital Co., Ltd.Chuo-ku, Tokyo27.89(5.29)The Mitsubishi Asset Brains Company, LimitedMinato-ku, Tokyo25.00JALCARD, INC.Shinagawa-ku, TokyoBOT Lease Co., LTD.Chuo-ku, TokyoThe Chukyo Bank, LimitedNaka-ku, Nagoya CityRecruit MUFG Business Co., Ltd.Chuo-ku, Tokyo49.00Nippon Mutual Housing Loan Co., Ltd.Taito-ku, Tokyo4.96[43.79]Vietnam Joint Stock Commercial Bank for Industry Hanoi,and Tradethe Socialist Republic of VietnamSecurity Bank CorporationMakati,Republic of the PhilippinesBangkok MUFG LimitedBangkok,Kingdom of ThailandMars Growth Capital Pte. Ltd.Singapore, Republic of SingaporeMUFG Holding (Thailand) Co., Ltd.Bangkok,Kingdom of (10.00)[25.00]50.0011.11[29.86]30 Other companies(Notes) 1. Of the above affiliates, Bank of Ayudhya Public Company Limited is classified as a Specified Subsidiary.2. Of the above affiliates, Mitsubishi UFJ Financial Group, Inc., JACCS CO., LTD. and The Chukyo Bank, Limitedsubmit annual securities reports or securities registration statements.3. Of the above affiliates, the ordinary income of MUFG Americas Holdings Corporation and Bank of Ayudhya PublicCompany Limited (excluding intercompany transactions between consolidated companies) represents more than10% of the ordinary income in the consolidated financial statements.The ordinary income, ordinary profit, net income, total equity and total assets of MUFG Americas HoldingsCorporation are 573,976 million, 52,895 million, 49,452 million, 1,671,079 million and 17,794,252 million,respectively.The ordinary income, ordinary profit, net income, total equity and total assets of Bank of Ayudhya Public CompanyLimited are 503,181 million, 91,652 million, 73,017 million, 986,526 million and 9,191,388 million,respectively.Key information, including profit and loss figures of MUFG Americas Holdings Corporation and Bank of AyudhyaPublic Company Limited, are presented above on a consolidated basis and do not represent the performance of thestand-alone entities.4. ( ) in the “Ratio of voting rights holding (held)” column refers to indirect ownership via subsidiaries, while [ ]indicates the ratio of ownership by “persons who are found to exercise their voting rights in the same manner asthe Company due to having a close relationship with the Company in terms of contribution, personnel affairs, funds,technology, transactions or other matters” or “persons who agree to exercise their voting rights in the same manneras the Company.”9

5. Employees(1) Number of employees in consolidated companiesNumber ofemployeesJapaneseGlobalRetail &GlobalCorporate & Corporate &CommercialCommercialInvestment 3253,842[5,800][9,400][500][100]As of March 31, 2021GlobalMarketsBusinessUnitOther es) 1. Number of employees includes locally hired overseas staff members, but excludes 3,369 contract employees and20,900 temporary employees.2. Numbers within brackets indicate average number of temporary employees for the current fiscal year.3. Number of temporary employees includes contractors and is rounded to the nearest hundred.4. Number of contractors counted as temporary employees was 3,800 at the end of the current fiscal year while 4,100on average over the year (rounded to the nearest hundred).(2) Employees of the BankNumber of employeesAverage age (Years)30,554[9,973]Average years of service(Years)38.314.7Number ofemployeesJapaneseGlobalRetail &GlobalCorporate & Corporate &CommercialCommercialInvestment 632[0][8,587][459][72]As of March 31, 2021Average annual salary(Thousands of yen)7,731GlobalMarketsBusinessUnitOther unitsTotal1,077[17]5,765[838]30,554[9,973](Notes) 1. Number of employees excludes employees loaned to other companies but includes employees loaned to the Bank,while it includes locally hired overseas staff members, but excludes 1,429 contract employees and 9,645 temporaryemployees.2. Number of employees excludes 108 Executive Officers (18 of whom serving as Directors concurrently).3. Numbers within brackets indicate average number of temporary employees for the current fiscal year.4. Number of temporary employees includes contractors. Number of contractors was 1,841 at the end of the currentfiscal year and 1,941 on average over the year.5. Neither locally hired overseas staff members nor employees loaned to the Bank are included in the average age,average years of service and average annual salary.6. Average annual salary includes bonus and extra wages.7. Employees union of the Bank is called The MUFG Bank Union with the membership of 28,796.No significant issues exist between the union and the management.10

II. Business Overview1. Management Policy, Business Environment and Issues to be Addressed, etc.Forward-looking statements in this section reflect the Bank’s view as of the end of the current fiscal year.(1) Management policyJapan faces challenges such as a declining birth rate, an aging society and a shrinking population, whilelow growth has become normalized throughout the world. More recently, the environment we operate in hasbeen affected by issues including the COVID-19 pandemic, growing awareness of environmental and socialissues, and advances in digital technologies that enable the entry of new competitors in the financial sector.These developments are changing the business environment in significant ways and with unprecedented speed.The MUFG Group seeks to meet these changes with clear eyes and to make the most of these challengesas opportunities for growth to become a leading force in the new era. It is with this goal that we have definedour Purpose: “Committed to empowering a brighter future.” Our three-year plan starting from fiscal year 2021,outlining how we will leverage our financial and digital strengths to help our stakeholders around the world,is set out in the new Medium-term Business Plan.We are positioning the three-year term of this new Medium-term Business Plan as the “Three Years of NewChallenges and Transformation.” We will strive to meet the expectations of all our stakeholders—includingcustomers and employees—by structuring our business model to suit the changes in our environment andachieving higher profitability and improved return on equity.In our Medium-term Business Plan, our goal at the end of its three-year span is to leverage our financialand digital capabilities to be the leading business partner that pioneers the future. We set this goal with thedesire to help all our stakeholders take the next step forward in a time of constant change. The key words forthe transformative change we will be pursuing are (1) Digitalization, (2) Sustainability Management, and (3)New Challenges/Speed. We will address the issues that confront our customers and wider society, working toprovide optimal solutions.These initiatives share three management policy keywords: “digital transformation,” “resilience,” and“engagement.”The first is “to digitize the way we operate.” While we consider the reality of challenges we face in ourdigitization efforts, we have raised this keyword first to respond to the digital shift of society.The second is a “focus on our resilience as a business.” The recent crisis has reminded us that MUFG mustcontinue to be trusted under any environment. We will emphasize our reliability as a financial institution andplace our management resources in focus areas in which the MUFG Group has strengths.The final keyword is “engagement-focused management.” While significant changes are required of theBank and of each employee, we value a direction of reforms that induces empathy. We want to create anattractive company where everyone can feel a sense of participation, enabling empathy between employees,organizations, customers, and society.(2) Business environmentOver the course of fiscal year 2020, restrictions placed on economic activities in order to suppress thespread of infection put downward pressure on the global economy amid an unprecedented crisis caused byCOVID-19. Due to the economic restrictions that were introduced in response to the first wave of infections,many countries experienced a severe and large economic decline during the first quarter, especially developedcountries like Japan, the US and those in Europe. These economic restrictions were then eased as the first wavesubsided and many central banks and governments embarked upon largescale monetary easing and fiscalspending at this time. These factors, along with a reaction to the previous quarter’s slump, resulted in a largerebound globally in the second quarter. From the third quarter, there was another rise in cases across severalregions and many countries, including Japan, tightened restrictions on movement, which acted as a continuousweight on economic recovery. On the other hand, it appears there were some positive trends, such as vaccinerollouts in some countries. In addition, some uncertainty related to politics and policymaking subsided as atrade agreement was reached between the EU and UK and the Democratic Biden administration passed anadditional large-scale economic stimulus package after achieving victory at the US presidential election.In terms of the financial markets, US and Japanese stock prices plummeted at the end of the previousfiscal year due to the COVID-19 pandemic. Since then, they have continued to recover on the back ofexpectations that the economy will sooner rather than later return to normal due to the impact of policies andthe distribution of vaccines. As of the end of fiscal year 2020, they had recovered to a point which was higher11

than the level before the COVID-19 pandemic; US stock prices reached a record high and the Japanese stockmarket was at its highest point since the bubble period. Meanwhile, the JPY had been on a trend of appreciationagainst the USD up to and including the third quarter, hitting USD/JPY102 for a short while at the start ofJanuary 2021. Risk appetite then increased in financial markets owing to expectations of an early recovery ofthe US economy following the passage of an additional economic stimulus package, resulting in dollar buying.Interest rates generally remained at low levels in Japan and other countries up to and including the third quarteras countries adopted monetary easing policies. Nevertheless, there appears to have been a rise in long-terminterest rates in the fourth quarter owing to expectations of economic recovery in the US.(3) Issues to be AddressedIn order to attain its vision for three years in the future of leveraging its financial and digital capabilitiesto be the leading business partner that pioneers the future, the MUFG Group has identified three strategic pillarsof “Corporate Transformation,” “Strategy for Growth,” and “Structural Reforms.”In “Corporate Transformation,” to change how our company operates and executes, while focusing on“Digital transformation” and “Contribution to addressing environmental and social issues,” we will also aimto “Transform our corporate culture” pivoting on speed and challenges. In particular, contribution to addressingenvironmental and social issues aims to further expand support for customers’ efforts towards decarbonizationand the development of innovative technologies under the MUFG Carbon Neutrality Declaration announcedin May 2021, in order to lead the way to solutions for climate change, one of the most serious issues facing theworld.Outline of the MUFG Carbon Neutrality DeclarationIn “Strategy for Growth,” in order to strengthen profitability, we will promote our “Wealth ManagementBusiness,” “Approach of proposing solutions to the issues faced by our corporate customers,” “Asia Business,”“GCIB and Global Markets” and “Global Asset Management / Investor Services.”In “Structural Reforms,” to ensure resilience, we will promote “Cost and risk weighted asset control,”“Transformation of our platforms and business base,” and a “Review of our business portfolios” byreconsidering our non-profitable segments and undertaking to find new business opportunities.Although progress on some measures ma

Mitsubishi UFJ Financial Group, Inc. January 2006 The Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Limited were merged to become The Bank of Tokyo-Mitsubishi UFJ, Ltd. June 2016 The Bank of Tokyo-Mitsubishi UFJ, Ltd. transformed its governance structure from a Company with Board of Corporate Auditors into a Company with an Audit & Supervisory