Sumitomo Mitsui Financial : Interim Consolidated Financial Statements(2Q)(Excerpt from Securities Report)

SUMITOMO MITSUI FINANCIAL GROUP

Unaudited Interim Consolidated Financial Statements as of and for the six months ended September 30, 2023

This document contains "forward-looking statements" (as defined in the U.S. Private Securities Litigation Reform Act of 1995), regarding the intent, belief or current expectations of Sumitomo Mitsui Financial Group, Inc. ("the Company") and its management with respect to the Company's future financial condition and results of operations. In many cases but not all, these statements contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "probability," "risk," "project," "should," "seek," "target," "will" and similar expressions. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those expressed in or implied by such forward-looking statements contained or deemed to be contained herein. The risks and uncertainties which may affect future performance include: deterioration of Japanese and global economic conditions and financial markets; declines in the value of the Company's securities portfolio; incurrence of significant credit-related costs; the Company's ability to successfully implement its business strategy through its subsidiaries, affiliates and alliance partners; and exposure to new risks as the Company expands the scope of its business. Given these and other risks and uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date of this document. The Company undertakes no obligation to update or revise any forward-looking statements. Please refer to the Company's most recent disclosure documents such as its annual report on Form 20-F and other documents submitted to the U.S. Securities and Exchange Commission, as well as its earnings press releases, for a more detailed description of the risks and uncertainties that may affect its financial conditions, its operating results, and investors' decisions.

UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (JAPANESE GAAP)

INTERIM CONSOLIDATED BALANCE SHEETS

								Millions of
			Millions of yen				U.S. dollars
	March 31, 2023	September 30, 2023	September 30,
		2023
Assets:
Cash and due from banks	*5	¥	75,913,960	*5	¥	77,411,258	$	517,524
Call loans and bills bought			5,684,812			6,088,010		40,701
Receivables under resale agreements			5,785,945			7,753,303		51,834
Receivables under securities borrowing
transactions			5,576,612			6,031,785		40,325
Monetary claims bought			5,558,287			5,427,975		36,288
Trading assets	*2, *5		8,751,204	*2, *5		11,127,530		74,392
Money held in trust			12,957			13,149		88
Securities	*1, *2, *3, *5,		33,213,165	*1, *2, *3, *5,		40,431,009		270,297
*12		*12
Loans and bills discounted	*3, *4, *5, *6		98,404,137	*3, *4, *5, *6		102,448,793		684,910
Foreign exchanges	*3, *4		1,942,764	*3, *4		2,238,431		14,965
Lease receivables and investment assets			226,302			257,744		1,723
Other assets	*3, *5		13,243,899	*3, *5		17,311,905		115,737
Tangible fixed assets	*7, *8		1,494,527	*7, *8		1,551,296		10,371
Intangible fixed assets			897,848			939,136		6,278
Net defined benefit asset			704,654			725,072		4,847
Deferred tax assets			74,084			88,703		593
Customers' liabilities for acceptances and	*3			*3
guarantees		13,693,771		14,605,432		97,643
Reserve for possible loan losses			(750,369)			(725,472)		(4,850)
Total assets		¥	270,428,564		¥	293,725,065	$	1,963,665

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(Continued)

						Millions of
		Millions of yen			U.S. dollars
	March 31, 2023	September 30, 2023	September 30,
		2023
Liabilities and net assets:
Liabilities:
Deposits	*5 ¥	158,770,253	*5 ¥	162,448,935	$	1,086,034
Negotiable certificates of deposit		13,025,555		13,772,058		92,072
Call money and bills sold		2,569,055		2,161,557		14,451
Payables under repurchase agreements	*5	16,772,716	*5	22,665,537		151,528
Payables under securities lending transactions	*5	1,521,271	*5	1,393,357		9,315
Commercial paper		2,349,956		2,093,812		13,998
Trading liabilities		8,066,745		10,476,369		70,039
Borrowed money	*5, *9	13,674,830	*5, *9	14,370,861		96,075
Foreign exchanges		1,465,847		2,277,501		15,226
Short-term bonds		424,000		708,500		4,737
Bonds	*5, *10	10,365,003	*5, *10	12,340,347		82,500
Due to trust account	*5, *11	2,413,464	*5, *11	2,111,631		14,117
Other liabilities		11,923,748		17,827,867		119,186
Reserve for employee bonuses		96,254		69,112		462
Reserve for executive bonuses		3,307		―		―
Net defined benefit liability		35,449		36,041		241
Reserve for executive retirement benefits		1,133		954		6
Reserve for point service program		28,659		31,763		212
Reserve for reimbursement of deposits		10,845		8,574		57
Reserve for losses on interest repayment		128,378		112,267		751
Reserves under the special laws		3,902		4,259		28
Deferred tax liabilities		265,354		359,286		2,402
Deferred tax liabilities for land revaluation	*7	27,952	*7	27,945		187
Acceptances and guarantees		13,693,771		14,605,432		97,643
Total liabilities		257,637,458		279,903,979		1,871,266
Net assets:
Capital stock		2,342,537		2,344,038		15,671
Capital surplus		694,052		685,660		4,584
Retained earnings		7,423,600		7,586,692		50,720
Treasury stock		(151,798)		(17,721)		(118)
Total stockholders' equity		10,308,391		10,598,670		70,856
Net unrealized gains (losses) on other securities		1,373,521		1,505,869		10,067
Net deferred gains (losses) on hedges		(13,293)		61,996		414
Land revaluation excess	*7	35,005	*7	35,041		234
Foreign currency translation adjustments		843,614		1,369,518		9,156
Accumulated remeasurements of defined
benefit plans		133,226		123,588		826
Total accumulated other comprehensive income		2,372,074		3,096,013		20,698
Stock acquisition rights		1,145		1,002		7
Non-controlling interests		109,495		125,400		838
Total net assets		12,791,106		13,821,086		92,399
Total liabilities and net assets	¥	270,428,564	¥	293,725,065	$	1,963,665

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INTERIM CONSOLIDATED STATEMENTS OF INCOME

							Millions of
		Millions of yen				U.S. dollars
Six months ended September 30		2022			2023		2023
Ordinary income	¥	2,916,911		¥	4,482,985	$	29,970
Interest income		1,533,167			2,923,705		19,546
Interest on loans and discounts		1,042,032			1,751,125		11,707
Interest and dividends on securities		216,433			305,920		2,045
Trust fees		3,044			3,784		25
Fees and commissions		703,822			804,513		5,378
Trading income		8,807			164,795		1,102
Other operating income		461,639			439,872		2,941
Other income	*1	206,430	*1		146,313		978
Ordinary expenses		2,190,840			3,773,752		25,229
Interest expenses		659,577			2,035,952		13,611
Interest on deposits		230,104			800,847		5,354
Fees and commissions payments		115,529			119,549		799
Trading losses		111,252			229,906		1,537
Other operating expenses		191,766			133,937		895
General and administrative expenses	*2	962,562	*2		1,082,198		7,235
Other expenses	*3	150,152	*3		172,207		1,151
Ordinary profit		726,071			709,232		4,741
Extraordinary gains	*4	378	*4		168		1
Extraordinary losses	*5, *6	1,775	*5, *6		3,014		20
Income before income taxes		724,674			706,386		4,722
Income taxes-current		146,053			176,906		1,183
Income taxes-deferred		47,692			837		6
Income taxes		193,746			177,743		1,188
Profit		530,927			528,642		3,534
Profit attributable to non-controlling interests		5,500			2,176		15
Profit attributable to owners of parent	¥	525,427		¥	526,465	$	3,520

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INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

						Millions of
		Millions of yen			U.S. dollars
Six months ended September 30		2022		2023		2023
Profit	¥	530,927	¥	528,642	$	3,534
Other comprehensive income (losses)		174,433		729,123		4,874
Net unrealized gains (losses) on other securities		(668,609)		126,098		843
Net deferred gains (losses) on hedges		98,664		71,528		478
Foreign currency translation adjustments		644,993		476,785		3,187
Remeasurements of defined benefit plans		(8,200)		(9,683)		(65)
Share of other comprehensive income of affiliates		107,585		64,394		431
Total comprehensive income		705,361		1,257,766		8,409
Comprehensive income attributable to owners of parent		697,209		1,250,368		8,359
Comprehensive income attributable to non-controlling interests		8,151		7,397		49

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INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

					Millions of yen
				Stockholders' equity
		Capital		Capital		Retained		Treasury
Six months ended September 30, 2022		stock		surplus		earnings		stock		Total
Balance at the beginning of the period	¥	2,341,878	¥	693,664	¥	6,916,468	¥	(13,402)	¥	9,938,608
Changes in the period
Issuance of new stock		658		658						1,317
Cash dividends						(143,936)				(143,936)
Profit attributable to owners of parent						525,427				525,427
Purchase of treasury stock								(34)		(34)
Disposal of treasury stock				(45)				320		274
Changes in shareholders' interest due to
transaction with non-controlling interests				(270)						(270)
Reversal of land revaluation excess						12				12
Transfer from retained earnings to capital
surplus				45		(45)				―
Net changes in items other than
stockholders' equity in the period
Net changes in the period		658		387		381,458		285		382,790
Balance at the end of the period	¥	2,342,537	¥	694,052	¥	7,297,926	¥	(13,116)	¥	10,321,399
						Millions of yen
				Accumulated other comprehensive income
	Net unrealized						Foreign		Accumulated
		gains (losses)		Net deferred		Land		currency	remeasurements
		on other		gains (losses)		revaluation		translation		of defined
Six months ended September 30, 2022		securities		on hedges		excess		adjustments		benefit plans		Total
Balance at the beginning of the period	¥	1,632,080	¥	(80,061)	¥	36,320	¥	450,143	¥	121,123	¥	2,159,606
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Changes in shareholders' interest due to
transaction with non-controlling interests
Reversal of land revaluation excess
Transfer from retained earnings to capital
surplus
Net changes in items other than
stockholders' equity in the period		(671,756)		122,697		(12)		729,045		(8,204)		171,769
Net changes in the period		(671,756)		122,697		(12)		729,045		(8,204)		171,769
Balance at the end of the period	¥	960,324	¥	42,636	¥	36,307	¥	1,179,188	¥	112,919	¥	2,331,376

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(Continued)

			Millions of yen
		Stock		Non-
		acquisition		controlling		Total
Six months ended September 30, 2022		rights		interests		net assets
Balance at the beginning of the period	¥	1,475	¥	97,641	¥	12,197,331
Changes in the period
Issuance of new stock						1,317
Cash dividends						(143,936)
Profit attributable to owners of parent						525,427
Purchase of treasury stock						(34)
Disposal of treasury stock						274
Changes in shareholders' interest due to
transaction with non-controlling interests						(270)
Reversal of land revaluation excess						12
Transfer from retained earnings to capital
surplus						―
Net changes in items other than
stockholders' equity in the period		(273)		9,223		180,719
Net changes in the period		(273)		9,223		563,510
Balance at the end of the period	¥	1,201	¥	106,864	¥	12,760,842

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(Continued)

					Millions of yen
				Stockholders' equity
		Capital		Capital		Retained		Treasury
Six months ended September 30, 2023		stock		surplus		earnings		stock		Total
Balance at the beginning of the period	¥	2,342,537	¥	694,052	¥	7,423,600	¥	(151,798)	¥	10,308,391
Changes in the period
Issuance of new stock		1,501		1,500						3,001
Cash dividends						(168,077)				(168,077)
Profit attributable to owners of parent						526,465				526,465
Purchase of treasury stock								(61,326)		(61,326)
Disposal of treasury stock				(99)				242		143
Cancellation of treasury stock				(195,160)				195,160		―
Changes in shareholders' interest due to
transaction with non-controlling interests				(9,892)						(9,892)
Reversal of land revaluation excess						(35)				(35)
Transfer from retained earnings to capital
surplus				195,259		(195,259)				―
Net changes in items other than
stockholders' equity in the period
Net changes in the period		1,501		(8,391)		163,092		134,076		290,278
Balance at the end of the period	¥	2,344,038	¥	685,660	¥	7,586,692	¥	(17,721)	¥	10,598,670
						Millions of yen
				Accumulated other comprehensive income
	Net unrealized						Foreign		Accumulated
		gains (losses)		Net deferred		Land		currency	remeasurements
		on other		gains (losses)		revaluation		translation		of defined
Six months ended September 30, 2023		securities		on hedges		excess		adjustments		benefit plans		Total
Balance at the beginning of the period	¥	1,373,521	¥	(13,293)	¥	35,005	¥	843,614	¥	133,226	¥	2,372,074
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock
Changes in shareholders' interest due to
transaction with non-controlling interests
Reversal of land revaluation excess
Transfer from retained earnings to capital
surplus
Net changes in items other than
stockholders' equity in the period		132,347		75,289		35		525,903		(9,638)		723,938
Net changes in the period		132,347		75,289		35		525,903		(9,638)		723,938
Balance at the end of the period	¥	1,505,869	¥	61,996	¥	35,041	¥	1,369,518	¥	123,588	¥	3,096,013

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(Continued)

			Millions of yen
		Stock		Non-
		acquisition		controlling		Total
Six months ended September 30, 2023		rights		interests		net assets
Balance at the beginning of the period	¥	1,145	¥	109,495	¥	12,791,106
Changes in the period
Issuance of new stock						3,001
Cash dividends						(168,077)
Profit attributable to owners of parent						526,465
Purchase of treasury stock						(61,326)
Disposal of treasury stock						143
Cancellation of treasury stock						―
Changes in shareholders' interest due to
transaction with non-controlling interests						(9,892)
Reversal of land revaluation excess						(35)
Transfer from retained earnings to capital
surplus						―
Net changes in items other than
stockholders' equity in the period		(142)		15,905		739,701
Net changes in the period		(142)		15,905		1,029,980
Balance at the end of the period	¥	1,002	¥	125,400	¥	13,821,086

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(Continued)

				Millions of U.S. dollars
				Stockholders' equity
		Capital		Capital		Retained		Treasury
Six months ended September 30, 2023		stock		surplus		earnings		stock		Total
Balance at the beginning of the period	$	15,661	$	4,640	$	49,630	$	(1,015)	$	68,916
Changes in the period
Issuance of new stock		10		10						20
Cash dividends						(1,124)				(1,124)
Profit attributable to owners of parent						3,520				3,520
Purchase of treasury stock								(410)		(410)
Disposal of treasury stock				(1)				2		1
Cancellation of treasury stock				(1,305)				1,305		―
Changes in shareholders' interest due to
transaction with non-controlling interests				(66)						(66)
Reversal of land revaluation excess						(0)				(0)
Transfer from retained earnings to capital
surplus				1,305		(1,305)				―
Net changes in items other than
stockholders' equity in the period
Net changes in the period		10		(56)		1,090		896		1,941
Balance at the end of the period	$	15,671	$	4,584	$	50,720	$	(118)	$	70,856
						Millions of U.S. dollars
				Accumulated other comprehensive income
	Net unrealized						Foreign		Accumulated
		gains (losses)		Net deferred		Land		currency	remeasurements
		on other		gains (losses)		revaluation		translation		of defined
Six months ended September 30, 2023		securities		on hedges		excess		adjustments		benefit plans		Total
Balance at the beginning of the period	$	9,183	$	(89)	$	234	$	5,640	$	891	$	15,858
Changes in the period
Issuance of new stock
Cash dividends
Profit attributable to owners of parent
Purchase of treasury stock
Disposal of treasury stock
Cancellation of treasury stock
Changes in shareholders' interest due to
transaction with non-controlling interests
Reversal of land revaluation excess
Transfer from retained earnings to capital
surplus
Net changes in items other than
stockholders' equity in the period		885		503		0		3,516		(64)		4,840
Net changes in the period		885		503		0		3,516		(64)		4,840
Balance at the end of the period	$	10,067	$	414	$	234	$	9,156	$	826	$	20,698

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