Sumitomo Mitsui Financial : Announcement of Organizational and Personnel Changes

News Release

Sumitomo Mitsui DS Asset Management Company, Limited

February 2, 2023

Announcement of Organizational and Personnel Changes

Sumitomo Mitsui DS Asset Management Company,Limited (President and CEO: Takashi Saruta) has decided the following organizational and personnel changes.

The purposesof these changes are to improve client satisfaction further and to become the best asset management company that contributes to "Quality of Life".

1. Effective DateApril 1, 2023
2. Organizational Changes

1. Enhancement of product management functions

"Product Management Department" is newly established as a dedicated organization in order to advance the product management function that connects investment, products, sales, middle & back office operations, and to accelerate the planning and promotion of business strategies related to investment products.

(2) Reorganization of Sales & Marketing Division

As customer needs change significantly, we will reorganize Sales & Marketing Division as follows, with the aim of building a structure that enables Sales & Marketing Division to integrate and provide customer-oriented solutions more rapidly.

1. "Investment Solution & Marketing Department" is newly established. In addition to sales to financial institutions, it is responsible for proposing solutions that meet the needs of all our customers.
2. Institutional Marketing Department, Wealth Development Department and Investment Trust Marketing Department will be reorganized by customer segments into "Asset Management Consulting Department", "Investment Trust Marketing Department I", "Investment Trust Marketing Department II", and "Digital Marketing Department".
3. Client Service Department, which has been responsible for preparing documents for customers, will be abolished after being integrated into the sales departments with the

Financial Instruments Firm Registered Number:

The Director of Kanto Local Finance Bureau (KINSHO) No. 399

Member of Japan Investment Advisors Association,

Investment Trusts Association, Japan, and Type II Financial Instruments Firms Association.

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News Release

Sumitomo Mitsui DS Asset Management Company, Limited

February 2, 2023

aim of further improving its proposal capabilities through integrated management with sales activities.

(3) Consolidation of middle back functions in asset management operations

The middle back operations for asset management will be consolidated into Products Division and the division will be renamed "Products & Administration Division", in order to ensure integrated and efficient operation from product development and management to middle & back office operations.

i. Product Development Department will merge the functions related to product management of Product Operation Department and be renamed "Product Planning Department".

1. Product Operation Department will be renamed "Investment Trust Documentation Department".
2. Disclosure Department and its reporting functions will be transferred to "Products & Administration Department".
3. Outsourcing Business Management Department will be transferred to "Products & Administration Department" and renamed "Fund Accounting & Administration Department".

(4) Establishment of administrative planning function

In order to improve the quality and efficiency of administrative work across the company, we will establish an administrative planning function for asset management operations within the IT Management Department and rename it "IT & Operation Management Department".

• For details of the new organization, please refer to "New Organizational Structure" in Appendix 1.

Financial Instruments Firm Registered Number:

The Director of Kanto Local Finance Bureau (KINSHO) No. 399

Member of Japan Investment Advisors Association,

Investment Trusts Association, Japan, and Type II Financial Instruments Firms Association.

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News Release

Sumitomo Mitsui DS Asset Management Company, Limited

February 2, 2023

3. Changes in Executive Officers

(1) Promoted Executive Officers

New position	Current position	Name
(Departments in Charge)	(Departments in Charge)
Deputy President Executive Officer	Senior Managing Executive Officer,
(Alternative Investment
Deputy Head of Investment	Tsuneto
Department, Global Investment
Management Division (Product	Iki
Management Department, Product
Development)
Management Department)
Senior Managing Executive Officer,	Managing Executive Officer
Head of Sales & Marketing Division	Ryohei
(Institutional Marketing
(Investment Solution & Marketing	Department, Client Service	Ajisaka
Department, Asset Management
Department)
Consulting Department)

(2) Newly appointed Executive Officers

New position	Current position	Name
(Departments in Charge)	(Departments in Charge)
Executive Officer
(Investment Department (Fixed	General Manager of Investment	Koichiro
Income and Investment
Planning Department	Yoda
Development), Trading
Department (Fixed Income))
Executive Officer
(Investment Trust Marketing	General Manager of Marketing	Tomonori
Department Ⅰ , Investment Trust
Planning Department	Hori
Marketing Department Ⅱ, Digital
Marketing Department)

Financial Instruments Firm Registered Number:

The Director of Kanto Local Finance Bureau (KINSHO) No. 399

Member of Japan Investment Advisors Association,

Investment Trusts Association, Japan, and Type II Financial Instruments Firms Association.

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News Release

Sumitomo Mitsui DS Asset Management Company, Limited

February 2, 2023

(3)Changes in responsibilities of executive officers

New position	Current position	Name
(Departments in Charge)	(Departments in Charge)
Director and Senior Managing	Director and Senior Managing
Executive Officer
Executive Officer	Head of Investment Management
Head of Investment Management	Division	Shingo
Division	(Investment Department
Imai
(Investment Department	(Supervision and Fixed Income),
(Supervision),	Trading Department (Fixed
Responsible Investment Section）	Income), Responsible Investment
	Section）
Managing Executive Officer	Managing Executive Officer	Satoru
(Investment Planning Department,
Fund Management Department,	(Investment Department	Sakai
(Investment Development))
Trading Department (Equity))
	Executive Officer
Executive Officer	(Sumitomo Mitsui DS Asset
Management (Hong Kong),
(Investment Department (Foreign	Naoto
Sumitomo Mitsui DS Asset
Equity))
Management (Singapore),	Nagai
President, Sumitomo Mitsui DS
Sumitomo Mitsui DS Private Fund
Asset Management (Hong Kong)
Management (Shanghai)),
	Investment Department Principal
	Executive Officer
Executive Officer	(Corporate Strategy Department,
Corporate Sustainability Section,	Tsuyoshi
(Product Management	Sumitomo Mitsui DS Asset
Niijima
Department)	Management (UK),
	Sumitomo Mitsui DS Asset
	Management (USA))
Managing Executive Officer	Managing Executive Officer
Head of Products & Administration
Division	Head of Products Division
(Product Planning Department,	(Product Development	Osamu
Investment Trust Documentation	Department, Product Operation
Ueyama
Department,	Department),
Disclosure Department,	General Manager of Product
Fund Accounting & Administration	Operation Department
Department)
Managing Executive Officer	Managing Executive Officer
(Wealth Development Department,	Takenari
Deputy Head of Sales & Marketing
Division	Investment Trust Marketing	Suzuki
Department, Client Service
(Marketing Planning Department)
Department)

Financial Instruments Firm Registered Number:

The Director of Kanto Local Finance Bureau (KINSHO) No. 399

Member of Japan Investment Advisors Association,

Investment Trusts Association, Japan, and Type II Financial Instruments Firms Association.

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News Release

Sumitomo Mitsui DS Asset Management Company, Limited

February 2, 2023

Representative Director and
Deputy President Executive Officer	Representative Director and
Head of International Business
Deputy President Executive Officer
Division
Head of International Business	Takayuki
(International Business
Division	Sawano
Department, Sumitomo Mitsui DS
(International Business
Asset Management (UK),
Department)
Sumitomo Mitsui DS Asset
Management (USA))
Director and Senior Managing	Director and Senior Managing
Executive Officer
Executive Officer
Head of Asia Division
Head of Asia Division
(Sumitomo Mitsui DS Asset
(Corporate Strategy Department,
Management(Hong Kong),	Kazuhisa
Sumitomo Mitsui DS Asset
Sumitomo Mitsui DS Asset
Management(Hong Kong),	Shimbo
Management(Singapore),
Sumitomo Mitsui DS Asset
Sumitomo Mitsui DS Private Fund
Management(Singapore),
Management (Shanghai)),
Sumitomo Mitsui DS Private Fund
President, Sumitomo Mitsui DS
Management (Shanghai))
Asset Management (Hong Kong)
	Senior Managing Executive Officer
Senior Managing Executive Officer	Head of Corporate Planning &
Administration Division
(IT & Operation Management	Tsuyoshi
Head of Risk Management Division
Department, Corporate Strategy
(IT Management Department,	Imai
Department, Corporate
Outsourcing Business Management
Sustainability Section)
Department, Human Resources
	Department)
Executive Officer	Executive Officer
Head of Risk Management Division
(Risk Management Department,	Tomonobu
(Risk Management Department,	Legal & Compliance Department),
Legal & Compliance Department),	Matsui
General Manager of Risk
General Manager of Risk
Management Department
Management Department

• For details on the responsibilities of all executive officers, please refer to "List of Executive Officers" on Appendix 2.

Financial Instruments Firm Registered Number:

The Director of Kanto Local Finance Bureau (KINSHO) No. 399

Member of Japan Investment Advisors Association,

Investment Trusts Association, Japan, and Type II Financial Instruments Firms Association.

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