Mitsubishi UFJ Financial : NOTICE OF CONVOCATION OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS （PDF / 4.

[NOTICE: This Notice of Convocation is a translation of the Japanese original for reference purposes only, and in the event of any discrepancy, the Japanese original shall prevail.]

Securities code: 8306

June 6, 2024 (Start date of measures for electronic provision: May 29, 2024)

NOTICE OF CONVOCATION OF

THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders:

Notice is hereby given that the 19th Annual General Meeting of Shareholders (the "Meeting") of Mitsubishi UFJ Financial Group, Inc. (the "Company") will be held as described below.

In convening this General Meeting of Shareholders, the Company has taken measures for the electronic provision of information. The matters subject to electronic provision have been posted on the following websites.

The Company's website: https://www.mufg.jp/english/ir/stock/meeting/index.html

Search: MUFG convocation

In addition to the above, the information is also posted on the following website.

Tokyo Stock Exchange (TSE) website: https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

Please access the above website, enter our company name or securities code (8306) and click "Search," and select "Basic information" and "Documents for public inspection/PR information" in that order to view the relevant information.

In place of attending the General Meeting of Shareholders in person, shareholders may exercise their voting rights in advance, either electronically (via the Internet) or in writing.

Please review the following "Reference Materials Concerning the General Meeting of Shareholders" and exercise your voting rights by 5:10 p.m. on Wednesday, June 26, 2024.

Yours very truly,

MITSUBISHI UFJ FINANCIAL GROUP, INC.

Hironori Kamezawa

Member of the Board of Directors, President & Group CEO

(Representative Corporate Executive)

7-1, Marunouchi 2-chome,

Chiyoda-ku, Tokyo

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		PARTICULARS
1.	Date and Time of the Meeting:	Thursday, June 27, 2024, at 10:00 a.m.
		(Reception is scheduled to open at 9:00 a.m.)
2.	Place of the Meeting:	Hiten Main Banquet Hall, Grand Prince Hotel Shin Takanawa
		at 3-13-1 Takanawa, Minato-ku, Tokyo

3. Matters to be dealt with at the Meeting:

Matters for Reporting:	The Business Report for the 19th Fiscal Year (from April 1, 2023 to March
	31, 2024), the Financial Statements, the Consolidated Financial Statements
	and the Results of the Audit of the Consolidated Financial Statements by the
	Independent Auditors and the Audit Committee.
Matters for Resolution:
First Item of Business	Appropriation of Surplus
Second Item of Business	Election of 16 (sixteen) Directors
Third Item of Business	Partial amendment to the Articles of Incorporation (Director competencies
	for the effective management of climate-related business risks and
	opportunities)
Fourth Item of Business	Partial amendment to the Articles of Incorporation (Assessment of
	customers' climate change transition plans)

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Announcements

• The Companies Act has been revised so that, in principle, materials concerning the General Meeting of Shareholders are to be viewed on our website, and a paper copy of such materials are delivered only to shareholders who have requested it by the record date. However, for this Meeting, a paper copy of the "REFERENCE MATERIALS CONCERNING THE GENERAL MEETING OF SHAREHOLDERS" has been sent to shareholders regardless of whether they made a request, for their convenience when attending the Meeting.
• The following items are not included in the documents sent to shareholders who have requested the delivery of a paper copy pursuant to laws and regulations, and the provision of Article 25 of the Articles of Incorporation.
  (1) Employees of the Group; (2) Principal Offices, etc. of the Group; (3) Major Borrowings; (4) Matters Concerning Officers of the Company (Limited Liability Agreement and Directors and Officers Liability Insurance); (5) Matters Concerning Outside Directors; (6) Matters Concerning Shares of the Company; (7) Matters Concerning Independent Auditor; (8) System to Ensure Appropriate Conduct of Operations; (9) Matters Concerning Wholly-owned Specified Subsidiaries; (10) Other (Policy Concerning Exercise of Powers Granted to the Board of Directors by the Provisions of the Articles of Incorporation Pursuant to Article 459, Paragraph 1 of the Companies Act, If There Are Any Such Provisions Under the Articles of Incorporation); (11) Consolidated Financial Statements and Notes to the Consolidated Financial Statements; (12) Non-consolidated Financial Statements and Notes to the Non-consolidated Financial
  Statements; (13) Independent Auditor's Report on the Consolidated Financial Statements; (14) Independent Auditor's Report on the Non-consolidated Financial Statements; (15) Audit Report of the Audit Committee The documents audited by the Audit Committee and Independent Auditors in preparing the Audit Reports and
  Independent Auditors Reports comprise the documents included in the "NOTICE OF CONVOCATION OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS," and the documents (1) through (15) above, disclosed on our website.
• If any matter subject to electronic provision is to be modified, we will post the details of such modification on our website.
• Notices of major changes to the operation of the General Meeting of Shareholders due to future conditions will be provided on our website.
• With regard to the results of the resolutions of the General Meeting of Shareholders, please be aware that we will post the results on our website after the conclusion of the meeting, instead of sending a written notice of the resolutions.
• For shareholders in a wheelchair, dedicated space will be provided at the venue.
  We have arranged a sign language interpreter, and if you need assistance, please let us know at the reception on the day of the Meeting. Writing boards for communication will also be available.
• The notice of convocation will be available via e-mail for requesting shareholders starting from the next General Meetings of Shareholders. Please apply for e-mail notices at the voting right exercise website (https://evote.tr.mufg.jp/) using a PC or smartphone.

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(Reference) FY2023 Financial Highlights

(1) Consolidated net operating profits

Consolidated net operating profits increased by ¥249.4 billion compared to the previous fiscal year and reached a record-high, primarily driven by increases in net interest income from loans and deposits and fee income overseas, despite the impact of revenue decreases that resulted from the sale of MUFG Union Bank.

(2) Profits attributable to owners of parent

Profits attributable to owners of parent increased by ¥374.2 billion compared to the previous fiscal year and marked the highest profits in MUFG history, driven by the increases in consolidated net operating profits, the impact of change of the equity method accounting date for Morgan Stanley, and the impact of depreciation of the yen.

(3) ROE

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ROE improved by 1.5 percentage points compared to the previous fiscal year primarily driven by the increase in profits attributable to owners of parent. ROE stood at 8.5%, and exceeded 7.5%, the financial target under the previous Medium-term Business Plan.

(4) Common Equity Tier 1 capital ratio

(Finalized and fully implemented Basel III basis, excluding net unrealized gains on available-for-sale securities*)

As for common Equity Tier 1 capital ratio, an adequate level of 10.1% continues to be maintained.

(5) Shareholder returns

• Dividend payout ratio is 34.9%, excluding the impact of change of the equity method accounting date for Morgan Stanley (profits attributable to owners of parent: ¥84.1 billion).

Please see the following website for details on financial highlights. https://www.mufg.jp/dam/ir/fs/2023/pdf/highlights2403_en.pdf

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(Reference) New Medium-term Business Plan Highlights

1. Fundamental Direction

MUFG established a new Medium-term Business Plan for the three-year period beginning in fiscal year 2024. Taking the opportunity offered by this major environmental change surrounding MUFG's business, the next Medium-term Business Plan period is positioned as "three years to pursue and produce growth." Building on strategic initiatives launched in our previous Medium-term Business Plan, we will focus on both growth strategies and social and environmental solutions, supported by transformation and innovation.

In this era when geopolitical risks, reversal of globalization and other forms of division emerge, we aspire to maximize MUFG's ability to facilitate connections, leveraging its extensive network and diverse solutions, to produce economic and social value, as we strive to realize our Purpose of being "committed to empowering a brighter future."

2. Financial Targets

We have set the following mid-tolong-term financial target, along with the financial targets for the fiscal year 2026, the final year of the new Medium-term Business Plan. We continue to position ROE as the most important financial target and set profits, expenses, and RWA as the three drivers to achieve the ROE target, and will promote "Expand & Refine Growth Strategies" and "Accelerate Transformation & Innovation."

• ROE Target and CET1 ratio target range

• Three Drivers to Achieve ROE target

FY2023 results	FY2026
targets

	ROE1	8.5%2		Approx. 9%
	CET1 ratio3
	(Finalized and fully		10.1%		9.5-10.5%
	implemented Basel III
	basis)

Mid- to

long-term

target

9-10%

Profits

Net operating profits4:

Over ¥2.1 trillion

Profits attributable to owners of parent:

Over ¥1.6 trillion

Expenses

Expense ratio:

Approx. 60%

RWA

Reduction of low profitability RWA:

¥5 trillion

Increase of high profitability RWA:

¥12 trillion

(Notes) 1. ROE (MUFG basis)	=	Profits attributable to owners of parent
{(Total shareholders' equity at the beginning of the period + Foreign currency
		translation adjustments at the beginning of the period) + (Total shareholders'
		equity at the end of the period + Foreign currency translation adjustments
		at the end of the period)} ÷ 2

1. ROE is 8.1%, excluding the impact of change of the equity method accounting date for Morgan Stanley.
2. Estimated CET1 ratio reflecting the RWA calculated on the finalized and fully implemented Basel III basis. Excludes net unrealized gains (losses) on available-for-sale securities.
3. On a managerial accounting basis.

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3. Three Pillars of the Medium-term Business Plan

(1) Expand & Refine Growth Strategies

Through considering MUFG's strategies in the four quadrants of the chart below, we have formulated seven strategies to achieve growth during the new Medium-term Business Plan period. While seeking growth by further strengthening our existing business model, by for example increasing the profitability of our balance sheet with consideration for changes in the interest rate environment, we will also seek to drive growth by expanding our business through providing new products and services, and by expanding customer touchpoints through new channels.

(2) Drive Social & Environmental Progress

MUFG has previously established priority issues in our sustainability management to realize a sustainable environment and society. We have revised such priority issues with consideration for environmental changes, expectations from society, and importance to our business, and will strengthen our efforts in driving social and environmental progress, integrating such efforts in our business strategies.

(3) Accelerate Transformation & Innovation

So as to continuously be trusted and chosen by our customers, we will accelerate transformation and innovation. We will transform our culture to become more agile, and strengthen our human capital, system development capacity, and AI and data infrastructure. We will also further improve our risk management and compliance.

To accelerate transformation and innovation, we have made a revision to the Values that comprise the MUFG Way, adding the element of Agility, through which we will aim to provide innovative products and services to our customers while encouraging each of our employees to act in an autonomous manner.

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(Reference) Sustainability Highlights

MUFG's Sustainability Initiatives

With the conviction that environmental and social sustainability are essential to achieving sustainable growth for MUFG, we will engage in value creation employing an integrated approach in which the execution of management strategies goes in tandem with the pursuit of solutions for environmental and social issues.

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• The figures above are aggregates of the Bank, the Trust Bank, and Securities (in Japan) except for the engagement score and the ratio of employees with disabilities.
  The engagement score is for the whole MUFG (including overseas), while the ratio of employees with disabilities is an aggregate of the Bank, the Trust Bank, Securities, NICOS, and ACOM (in Japan)

*1 Figures as of June 1 of each fiscal year

*2 Absence or leave of absence due to mental or physical illness

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