Mitsubishi Motors Corp

have established the Sustainability Committee, chaired by the executive officer, president & CEO, who also holds top responsibility for initiatives related to climate change. The committee evaluates climate-related risks and opportunities, discusses response measures, and reviews progress and achievements in line with the Environmental Targets 2030. Under the Sustainability Committee, we have established a body consisting of executives responsible for management strategy, products, manufacturing, procurement and logistics. This organization formulates medium- to long-term policies and goals based on the assessment of climate-related risks and opportunities. These policies, goals, and their progress are reported by the respective heads of each area at the Sustainability Committee for review and deliberation. The organization generally meets three times per year, [...] FY2022, we also went through the process of deliberation and reporting at Board of Directors meetings. [...] Recognizing the potential of climate change to present medium- to long-term risks and opportunities that affect its business domains, in July 2021 MITSUBISHI MOTORS expressed its support for the TCFD Recommendations. Accordingly, we are analyzing the impact of climate change on our businesses and finances (scenario analysis). We will reflect the results of scenario analysis in our management strategies to enhance the resilience of our strategies and improve information disclosure in accordance with the TCFD Recommendations. [...] a. Board's oversight of climate-related risks and opportunities We recognize "responding to climate change and energy issues" as an important management issue and identified this as one of our material issues. The Board of Directors serves as a forum for the deliberation and oversight of strategies, business plans and approaches. When important matters related to environmental initiatives arise, such as climate change, these matters are supervised through deliberation and reporting at the Board of Directors. When we revised our Environmental Targets 2030, we also went through the process of deliberation and reporting at Board of Directors meetings.

Recognizing that reasonable expenditures are required to appropriately maintain a democratic government, the Company considers making political contributions to be one aspect of its social responsibility. When making such contributions, we do so in accordance with the Public Offices Election Act, the Political Funds Control Act, and other laws and regulations related to politics. We are also careful to follow our own internal rules for approval.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The JAMA Board of Directors includes MMC's CEO. MMC assumes the JAMA Director, and other key positions and proactively commit to climate change mitigation discussion and implementation. MMC's Environmental Vision 2050 is consistent with JAMA's proactive policy which aims to improve fuel economy, and develop next generation vehicles, making them more widely available in the market. Since the MMC executives who are members of the JAMA Board of Directors can express their opinions as representatives of the company, we are able to influence the positions and decision-making of the JAMA in relation to climate change issues.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]The JAMA(Japan Automobile Manufacturers Association) Board of Directors includes MMC's CEO. MMC assumes the JAMA Director, and other key positions and proactively commit to climate change mitigation discussion and implementation. MMC's Environmental Vision 2050 is consistent with JAMA's proactive policy which aims to improve fuel economy, and develop next generation vehicles, making them more widely available in the market. Since the MMC executives who are members of the JAMA Board of Directors can express their opinions as representatives of the company, we are able to influence the positions and decision-making of the JAMA in relation to climate change issues.