Dividend Declaration

Mitsubishi Electric Announces Dividend Policy for Fiscal 2022

（April 1, 2021 - March 31, 2022）

TOKYO, March 25, 2022 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today its dividend forecast for the current fiscal year ending March 31, 2022 (fiscal 2022).

The company plans to pay a year-end dividend of 26 yen per share, as of the record date of March 31, 2022, with due consideration on performance and financial standing in fiscal 2022. The actual dividend will be declared at the Board of Directors meeting in May 2022.

Cautionary Statement

While the statements herein including the forecast of the Mitsubishi Electric Group are based on assumptions the Group considers to be reasonable under the circumstances on the date of announcement, actual results may differ significantly from forecasts. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

(1) Any change in worldwide economic and social conditions, as well as laws, regulations, taxation and other legislation

(2) Changes in foreign currency exchange rates, especially JPY/U.S. dollar rates

(3) Changes in stock markets, especially in Japan

(4) Changes in balance of supply and demand of products that may affect prices and volume, as well as material procurement conditions

(5) Changes in the ability to fund raising, especially in Japan

(6) Uncertainties relating to patents, licenses and other intellectual property, including disputes involving patent infringement

(7) New environmental regulations or the arising of environmental issues

(8) Defects in products or services

(9) Litigation and legal proceedings brought and contemplated against the Company or its subsidiaries and affiliates that may adversely affect operations or finances

(10) Technological change, the development of products using new technology, manufacturing and time-to-market

(11) Business restructuring

(12) Incidents related to information security

(13) Large-scale disasters including earthquakes, typhoons, tsunami, fires and others

(14) Social or political upheaval caused by terrorism, war, pandemics, or other factors

(15) Important matters related to the directors and executive officers, major shareholders and affiliated companies of Mitsubishi Electric Corporation

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About Mitsubishi Electric Corporation

With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com

*U.S. dollar amounts are translated from yen at the rate of \111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021