Sumitomo Mitsui Financial : Announcement of system integration, partial business process outsourcing and reorganizasion

News Release

Sumitomo Mitsui DS Asset Management Company, Limited

September 2nd, 2021

Announcement of system integration,

partial business process outsourcing and reorganization

Sumitomo Mitsui DS Asset Management Company, Limited [the "Company"] (President and CEO: Takashi Saruta) has been steadily integrating IT systems and operational processes since the merger on April 1st, 2019. The Company herewith announces planned integration of its investment trust back office systems, partial business process outsourcing and reorganization as set out below.

1. System integration, and business process outsourcing of the fund administration

The Company has decided to integrate its investment trust back office systems into "FAIMS/IT", which is the Investment Trust Accounting System developed and provided by Daiwa Institute of Research Ltd., on September 21st, 2021. On the same day, part of our middle and back office operations related to both investment trust and investment management business will be outsourced to Sumitomo Mitsui Trust Bank, Limited and Custody Bank of Japan, Ltd.

We will strive to become an asset management company that provides clients with the highest quality of performance and services, while realizing an efficient operating structure.

We will take all possible measures to achieve successful completion of these system integration and business process outsourcing. During the course of this effort, we might request assistance from our clients and business partners. We appreciate your understanding and cooperation on this matter.

2. Reorganization

In line with the abovementioned business process outsourcing, the Fund Accounting & Administration Department will be abolished effective from September 21st, 2021. Most of the operations of the department will be outsourced externally, and the remaining operations will be transferred to relevant internal departments.

[Contact information for this news release]

Katsuki Maruyama General Manager / Communication Section, Corporate Strategy Department Direct: [phone],E-mail:[e-mail]

Yasuko Kawase Manager / Communication Section, Corporate Strategy Department Direct: [phone],E-mail:[e-mail]

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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