MITSUBISHI UFJ FINANCIAL GROUP INC

We may from time to time make written or oral forward-looking statements. Written forward-looking statements may appear in documents filed with, or submitted to, the U.S. Securities and Exchange Commission, or SEC, including this Annual Report, and other reports to shareholders and other communications.

The U.S. Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking information to encourage companies to provide prospective information about themselves. We rely on this safe harbor in making these forward-looking statements.

Forward-looking statements appear in a number of places in this Annual Report and include statements regarding our current intent, business plan, targets (including, but not limited to, our sustainability-related targets), belief or expectations or the current belief or current expectations of our management with respect to our results of operations and financial condition, including, among other matters, our problem loans and loan losses. In many, but not all cases, we use words such as “anticipate,” “aim,” “believe,” “estimate,” “expect,” “intend,” “plan,” “probability,” “risk,” “will,” “may” and similar expressions, as they relate to us or our management, to identify forward-looking statements. These statements reflect our current views with respect to future events and are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those which are aimed, anticipated, believed, estimated, expected, intended or planned, or otherwise stated.

Our forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ from those in the forward-looking statements as a result of various factors. Important factors that could cause such differences include, without limitation,

•instability in, uncertainty over and deterioration of, economic conditions in Japan and around the world,

•external events, such as natural disasters and other health pandemics or epidemics, terrorism, and geopolitical and social conflicts,

•climate-related risks materializing in physical damages and changes in the business environment,

•competitive pressures resulting from regulatory and market changes,

•failure to implement our business expansion strategy as planned and to manage new or expanded risks that entail such strategy, as well as incurrence of impairment or valuation losses on our acquired assets,

•negative developments relating to our strategic alliance with Morgan Stanley,

•failure to maintain our capital ratios and other regulatory ratios above minimum required levels,

•significant unexpected increases in credit costs,

•financial difficulties of other financial institutions that affect the overall banking environment and their borrowers,

•fluctuations in interest rates, foreign currency exchange rates and stock prices,

•reduction in our ability to access or maintain liquidity,

•failure to address regulatory or public concerns or to meet market or industry rules or standards, customer protection requirements, or corporate behavior expectations,

•cyber-attacks and other information security threats,

•problems with the proper functioning and development of information, communications and transaction management systems,

•transactions with counterparties in countries designated by the U.S. Department of State as state sponsors of terrorism,

•changes in laws, regulations, rules, policies, accounting standards or methods, voluntary codes of practices, and interpretations,

•changes in the business and regulatory environment for consumer finance companies,

•damage to our reputation resulting from our failure to prevent or properly address negative perceptions held by customers, investors, regulators and the general public regarding us and our operations,

•our reliance upon third party vendors and service providers;

•risks related to the development and use of artificial intelligence by us and others; and

•other risks and uncertainties discussed in “Item 3.D. Key Information—Risk Factors,” “Item 4.B. Information on the Company—Business Overview,” “Item 5. Operating and Financial Review and Prospects,” “Item 11. Quantitative and Qualitative Disclosures about Credit, Market and Other Risk” and elsewhere in this Annual Report.

Given these and other risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of the filing of this Annual Report. We are under no obligation, and disclaim any obligation, to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

PART I