In Pursuit of a Recycling-oriented Business Model

Purpose of activities	Activities during fiscal 2022	Self- assessment	Targets/plans for activities from fiscal 2023 onwards
Promoting the recycling of fluorine resources　(Advanced Products (Electronic Materials & Components))	The amount recycled was 1,686 tons/year, 9% below the budget The raw material recycling rate was 15%	B	Ensure the stable operation of recycling plants and achieve the plan of the amount recycled
Promoting the recycling of tungsten (Metalworking Solutions Business)	Recycling rate increased (by 144% from the fiscal 2018 level) Ensure the amount of recycling (build a domestic recycling system)	A	Recycling rate increased (by 181% from the fiscal 2018 level) Increase the amount of recycling (start operating the overseas recycling system)
Expanding recycling operations (Metals Business)	Optimize the smelting business in response to the expansion of E-Scrap processing	A	Material flow optimization
Aiming to be the driving force of resource-recycling systems Providing reliable recycling systems, such as by ensuring traceability (Environment & Energy Business)	Implementation of automatic sorting robots Introduction of a system for managing home appliance recycling operations Establish technologies for recovering cobalt and nickel from lithium ion batteries Promote DX in home appliance recycling and food waste biogasification Strengthen sales activities for the stable operation of the incineration fly ash recycling business	B	Expand the home appliance recycling business, promote automation of home appliance recycling, and improve the added value of collected items Demonstrate technologies for recycling lithium ion batteries and solar panels Stable operation of the incineration fly ash recycling business and the food waste biogasification business Promote DX (home appliances, biogas)
Steadily processing industrial waste as raw materials (Cement Business*)	Consumption of waste plastics decreased by 9,139 tons from the previous year Biomass and low-cost alternative thermal energy resources increased by 3,943 tons from the previous year (Data on the cement plants of the former Mitsubishi Materials Corporation)	B

Self-assessment grades A: Target achieved B: Target mostly achieved C: Target not achieved

• * In the process of the integration of cement business and related businesses between UBE Corporation (formerly Ube Industries, Ltd.), on April 1, 2022, MMC's cement business and related businesses were assumed by Mitsubishi UBE Cement Corporation (an equity method affiliate of MMC) through an absorption-type company split.

Recycling-oriented Business Model

Overview of our Recycling-oriented Business Model

The Mitsubishi Materials Group is a complex corporate entity encompassing a wide range of technologies and expertise, from resources upstream to materials midstream to processed products downstream. We have continued to make the most of those capabilities on a groupwide scale, in an effort to establish a Recycling-oriented business model based on recovering resources from a wide range of waste products.
We strive to create cyclical value chains in each of our businesses, so that resources and materials are processed into products and then recycled back into materials. This also helps to promote Recycling-oriented social systems（Circular Economy）.

Recycling-oriented Business Model of the Group

• * In the process of the integration of Cement business and related businesses between UBE Corporation (formerly Ube Industries, Ltd.), on April 1, 2022, MMC's Cement business and related businesses were assumed by Mitsubishi UBE Cement Corporation (an equity method affiliate of MMC) through an absorption-type company split.