MUFG Bank, Ltd. Announces Consolidated Summary Report [under Japanese GAAP] for the Fiscal Year Ended March 31, 2020

MUFG Bank, Ltd.:

1. Consolidated Financial Data for the Fiscal Year ended March 31, 2020

2. Dividends on Common Stock

3. Earnings Target for the Fiscal Year ending March 31, 2021 (Consolidated)

MUFG has set an earnings target of 550.0 billion yen of profits attributable to owners of parent for the fiscal year ending March 31, 2021.

MUFG is engaged in financial service businesses such as banking business, trust banking business, securities business and credit card/loan businesses. Because there are various uncertainties caused by economic situation, market environments and other factors in these businesses, MUFG discloses a target of its profits attributable to owners of parent instead of a forecast of its performance.

The COVID-19 pandemic is expected to have a further impact on our business as economic and corporate activity deteriorates and the financial market remains volatile.

At present, the timing of containment of COVID-19 cannot be forecasted and the impact of the pandemic on the real economy is still uncertain. In preparing our earnings target in profits attributable to owners of parent for the Fiscal Year ending March 31, 2021 (Consolidated), referring in part to the baseline scenario in world economic outlook which the International Monetary Fund (IMF) released in April 2020, we assumed that economic activity will gradually resume from the second quarter of the Fiscal Year ending March 31, 2021 as the spread of COVID-19 declines and that economic conditions will recover to the level of calendar 2019 around the end of calendar 2020 globally, and around the end of calendar 2021 in developed countries. However, any outlook or assumption that we referred to or used to prepare our earnings target may prove inaccurate, particularly in light of the highly uncertain circumstances in which such outlook or assumption was made, and our earnings target may be revised or differ from the actual results to a significant extent depending on the actual timing of containment of the virus and the degree of its impact on the real economy, financial markets, etc., as well as on our business operations and financial condition.

We intend to continue to monitor developments relating to the pandemic and, as necessary, revise the earnings target.

* Notes

*This “Consolidated Summary Report” (“Tanshin”) is outside the scope of the external auditor’s audit procedure.

*Notes for using forecasted information etc.

1. This financial summary report contains forward-looking statements regarding estimations, forecasts, targets and plans in relation to the results of operations, financial conditions and other overall management of the company and/or the group as a whole (the “forward-looking statements”). The forward-looking statements are made based upon, among other things, the company’s current estimations, perceptions and evaluations. In addition, in order for the company to adopt such estimations, forecasts, targets and plans regarding future events, certain assumptions have been made. Accordingly, due to various risks and uncertainties, the statements and assumptions are inherently not guarantees of future performance, may be considered differently from alternative perspectives and may result in material differences from the actual result. For the main factors that may affect the current forecasts, please see Consolidated Summary Report, Annual Securities Report, Disclosure Book, Annual Report, and other current disclosures that the company has announced.

2. The financial information included in this financial summary report is prepared and presented in accordance with accounting principles generally accepted in Japan (“Japanese GAAP”). Differences exist between Japanese GAAP and the accounting principles generally accepted in the United States (“U.S. GAAP”) in certain material respects. Such differences have resulted in the past, and are expected to continue to result for this period and future periods, in amounts for certain financial statement line items under U.S. GAAP to differ significantly from the amounts under Japanese GAAP. For example, differences in consolidation basis or accounting for business combinations, including but not limited to amortization and impairment of goodwill, could result in significant differences in our reported financial results between Japanese GAAP and U.S. GAAP. Readers should consult their own professional advisors for an understanding of the differences between Japanese GAAP and U.S. GAAP and how those differences might affect our reported financial results. We will publish U.S. GAAP financial results in a separate disclosure document when such information becomes available.

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