Financial Information As of March 31, 2021

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Financial Information As of March 31, 2021 Financial Information as of March 31, 2021 (The English translation of the “Yukashoken-Houkokusho” for the year ended March 31, 2021) MITSUBISHI MOTORS CORPORATION Table of Contents Page Cover A. Company Information ................................................................................................................................................ 1 I. Overview of the Compan ........................................................................................................................................... 1 1. Summary of business results ................................................................................................................................... 1 2. Company history ..................................................................................................................................................... 3 3. Description of business ............................................................................................................................................ 4 4. Status of subsidiaries and associates ........................................................................................................................ 6 5. Employees ............................................................................................................................................................... 11 II. Overview of Business .................................................................................................................................................. 12 1. Management policy, business environment and issues to be addressed ................................................................... 12 2. Business-related risks .............................................................................................................................................. 14 3. Management analysis of financial position, operating results and cash flows ......................................................... 19 4. Critical contracts for operation ................................................................................................................................ 24 5. Research and development activities ....................................................................................................................... 25 III. Information about Facilities ......................................................................................................................................... 32 1. Outline of capital expenditure ................................................................................................................................. 32 2. Information about major facilities ........................................................................................................................... 33 3. Plans for acquisition and disposal of facilities ......................................................................................................... 37 IV. Information about Reporting Company ....................................................................................................................... 39 1. Information about shares, etc. .................................................................................................................................. 39 2. Acquisition of treasury shares ................................................................................................................................. 51 3. Dividend policy ....................................................................................................................................................... 52 4. Information about corporate governance, etc. ......................................................................................................... 53 V. Financial Information .................................................................................................................................................. 95 1. Consolidated financial statements ........................................................................................................................... 96 2. Non-consolidated financial statements .................................................................................................................... 152 VI. Overview of Operational Procedures for Shares .......................................................................................................... 169 VII. Reference Information of Reporting Company ........................................................................................................... 170 1. Information about parent company, etc. of reporting company ............................................................................... 170 2. Other reference information .................................................................................................................................... 170 B. Information on Guarantors for the Company ............................................................................................................... 172 Independent Auditor’s Report Internal Control Report Confirmation Letter [Cover page] Document title: Annual Securities Report (“Yukashoken-Houkokusho”) Clause of stipulation: Article 24, paragraph (1) of the Financial Instruments and Exchange Act Place of filing: Director-General of the Kanto Local Finance Bureau Filing date: June 24, 2021 Accounting period: Full-year FY 2020 (April 1, 2020 through March 31, 2021) Company name: (Mitsubishi Jidosha Kogyo Kabushiki Kaisha) Company name in English: MITSUBISHI MOTORS CORPORATION Title and name of Takao Kato, Representative Executive Officer, President & CEO representative: Address of registered 3-1-21, Shibaura, Minato-ku, Tokyo, Japan headquarter: Telephone number: +81-3-3456-1111 (Main telephone number) Name of contact person: Natsuji Okino, General Manager, Accounting Dept. Keiko Sasaki, General Manager, IR Office Nearest place of contact: 3-1-21, Shibaura, Minato-ku, Tokyo, Japan Telephone number: +81-3-3456-1111 (Main telephone number) Name of contact person: Natsuji Okino, General Manager, Accounting Dept. Keiko Sasaki, General Manager, IR Office Place for public inspection: Tokyo Stock Exchange, Inc. 2-1, Nihonbashi Kabutocho, Chuo-ku, Tokyo, Japan A. Company Information I. Overview of the Company 1. Summary of business results (1) Transition of summary of business results for the five most recent fiscal years Fiscal year FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 Fiscal year ended March 31, 2017 March 31, 2018 March 31, 2019 March 31, 2020 March 31, 2021 Millions of Net sales 1,906,632 2,192,389 2,514,594 2,270,276 1,455,476 yen Millions of Ordinary profit (loss) 8,944 110,127 119,850 (3,843) (105,203) yen Profit (loss) attributable Millions of (198,524) 107,619 132,871 (25,779) (312,317) to owners of parent yen Millions of Comprehensive income (204,740) 110,713 131,381 (67,458) (259,691) yen Millions of Net assets 703,463 796,562 881,203 788,363 525,251 yen Millions of Total assets 1,484,413 1,646,240 2,010,309 1,938,123 1,856,279 yen Net assets per share Yen 463.37 524.12 585.75 519.15 341.44 Basic earnings (loss) Yen (164.11) 72.23 89.26 (17.32) (209.88) per share Diluted earnings per Yen – 72.20 89.18 – – share Equity-to-asset ratio % 46.51 47.44 43.37 39.87 27.36 Return-on-equity ratio % (29.16) 14.63 16.08 (3.14) (48.78) Price/earnings ratio Times – 10.54 6.59 – – Net cash provided by Millions of (used in) operating (45,829) 119,624 146,053 18,786 (41,537) yen activities Net cash provided by Millions of (used in) investing (73,119) (97,093) (144,906) (105,712) (101,323) yen activities Net cash provided by Millions of (used in) financing 210,377 (23,161) (74,966) 9,624 168,291 yen activities Cash and cash Millions of equivalents at end of 555,906 559,036 489,456 399,588 444,619 yen period Number of employees [Number of temporary 29,604 30,507 31,314 32,171 30,091 Number employees not included (3,892) (7,122) (8,682) (7,558) (6,434) in the above figures] (Notes) 1. Net sales do not include consumption taxes. 2. The number of employees is the number of employees currently on duty. 3. Diluted earnings per share for FY 2016 is not shown because there are no potential shares. Diluted earnings per share for FY 2019 and FY 2020 are not shown even though there are potential shares, because basic loss per share is reported for each of the fiscal years. 4. Price/earnings ratios for the FY 2016, FY 2019 and FY 2020 are not shown because basic loss per share is reported for each of the fiscal years. 5. The Mitsubishi Motors Corporation (“MMC”) Group has applied the “Partial Amendments to Accounting Standard for Tax Effect Accounting” (ASBJ Statement No. 28, February 16, 2018) and relevant Guidances effective from the beginning of FY 2018. Summary of business results relating to FY 2017 also reflects the retrospective application of these accounting standards, etc. 6. When calculating the “net assets per share” in FY 2020, the shares of MMC held by the “Board Incentive Plan (BIP) Trust Account,” which are included in treasury shares, have been excluded from the total number of issued shares at the end of the period. Furthermore, when calculating the “basic earnings (loss) per share,” these same shares, which are included in treasury shares, have been excluded from the calculation of the average number of shares during the period. - 1 - (2) Transition of significant non-consolidated business indicators for the five most recent fiscal years Fiscal
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