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Tokyo, November 28, 2025 – Mitsubishi Heavy Industries, Ltd. (MHI) published its integrated report, “MHI REPORT 2025”, which provides a balance of financial and non-financial information of MHI Group and its “SUSTAINABILITY DATABOOK 2025” (the Databook), an annual report summarizing non-financial information of the Group.

“MHI REPORT 2025” provides explanations centering on our new corporate strategy, Innovative Total Optimization (ITO) established by CEO Eisaku Ito, who took the office in April. In a message from the President and CEO at the beginning, CEO Ito outlines his management approach to achieve Group-Wide Optimization and Reach Expansion to unlock growth potential and establish a virtuous cycle of high profitability and growth investments by creating new value. Next, in a message from the CFO, CFO Hiroshi Nishio shares his perspective on the financial strategy that supports medium- to long-term growth to meet the capital market’s expectations of the Group, from perspectives such as financial discipline, resource allocation, and portfolio management.

Two feature articles are included. The topic of the first feature is at the forefront of our future growth areas. A message from CSO Masayuki Suematsu explains our growth strategy, centering on the initiatives for growth areas established in the 2024 Medium-Term Business Plan. In a roundtable discussion on the data center business, the feature discusses the future outlook of the market, the Group’s strengths, and its eagerness to expand this business. The topic of the second feature is the technology platform supporting MHI Group. In a message from the CTO, CTO Tomoaki Omura shares his own mission to transform our technology platform and lay the groundwork for businesses that can underpin growth in the future, in addition to contributing to the ongoing business operations of the Group. The feature introduces the Shared Technology Framework, which is designed to serve as a Group-wide hub for technology.

The latter half of the report contains an article covering a roundtable discussion on the Company’s governance system. Three outside directors exchange opinions reflecting on the ten years since the Company transitioned to an Audit and Supervisory Committee structure in 2015. The functions of the Nomination and Remuneration Committee and principles on CEO succession are also covered.

The Databook provides the public with information on the progress being achieved by MHI Group in its sustainability management strategy, with content divided into sustainability management, the environment, society, and governance, along with detailed performance data.

The 2025 edition of the Databook includes expanded coverage of the Company’s initiatives related to the circular economy.(Note1) Also included are information on the certification of “Wadaoki Forest,” a forested area cultivated within Mihara Machinery Works in Hiroshima Prefecture as a “Nationally Certified Sustainably Managed Natural Site” by the Ministry of the Environment, and the “Strategy Map for Well-being and Health Management” developed to promote employee health and well-being.(Note2)

MHI Group aims to contribute to the resolution of the issues facing the world with our diverse technologies, thereby providing value to customers and society while also enhancing our corporate value. Going forward, we will continue to clearly communicate this mission to a broad range of stakeholders.

• 1 A circular economy is an economic system that aims to efficiently circulate resources to promote a sustainable society along with economic growth.
• 2Well-being is a concept signifying a state in which individual rights and self-fulfillment are guaranteed, and physical, mental, and social conditions are good.

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The I3 Instrument, funded by the ERDF, supports interregional collaboration in shared smart specialisation areas, fostering innovation-driven industrial transitions, and cross-regional value chains. As part of the Work Programme 2025–2027, the new Strand 2b call is open and will remain open until 19 March 2026.

This call represents a significant opportunity for both more developed and transition regions to strengthen innovation capacity, and for less developed regions to connect with broader European ecosystems. However, finding suitable partners with complementary strengths and shared priorities remains a challenge.

To address this, the 15th I3 Instrument Support Facility virtual event will provide a structured online matchmaking format to help participants build new partnerships for future I3 Instrument project proposals.

Participants will:

• Meet potential partners from other EU regions considering engagement in I3 Instrument projects;
• Explore complementarities and shared smart specialisation areas;
• Foster early-stage discussions that may lead to concrete I3 Instrument consortia or future cooperation opportunities.

The format will consist of three networking rounds in small breakout groups (3–4 participants), each lasting about 20 minutes, supported by light thematic prompts to guide discussion. An optional fourth networking round will be offered at the end for further exchanges.