New Composition of Shareholders of PT Oto Multiartha and PT Summit Oto Finance in Indonesia

Sumitomo Mitsui Financial Group (President and Group CEO: Toru Nakashima; hereinafter "SMFG", collectively the "SMBC Group"), Sumitomo Mitsui Banking Corporation (President: Akihiro Fukutome; hereinafter "SMBC") and Sumitomo Corporation (President and CEO: Masayuki Hyodo; hereinafter "SC", collectively the “SC Group”) announce that SMBC and SC Group will sell the stock of PT Oto Multiartha (President Director : Akinori Otsu; hereinafter “OTO”) and PT Summit Oto Finance (President Director : Victoria Rusna, hereinafter “SOF”) (hereinafter “OTO Group”) respectively, to PT BANK BTPN Tbk (President Director: Henoch Munandar; hereinafter "Bank BTPN"), a subsidiary of SMBC.

After completion of the relevant transactions, which is subjected to approval of the relevant authorities, the ownership of each company in the OTO Group will be 51.0% for Bank BTPN, 34.0% for SC Group, and 15.0% for PT. Sinar Mas Multiartha Tbk.

SMBC Group and SC Group have positioned OTO Group as a joint business in the field of multi-finance business in Indonesia, and agreed this change of shareholders composition after the consideration of the OTO Group’s business plan and operations in future.
SMBC Group and SC Group aim to strengthen the Bank BTPN’s and OTO Group's business basement by utilizing knowledge and networks of the groups to realize a sustainable expansion and growth strategy while capturing the growth of four-wheel and two-wheel financing market in Indonesia and considering the shift to EVs and a decarbonized society.

【OTO Group Overview】

（1）OTO

（2）SOF

(As of December 31, 2022)

Sumitomo Corporation’s Material Issues

Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to the following material Issues.

Achieving Harmony with the Global Environment

To realize recycling-oriented society and mitigate climate change, we are working to establish frameworks for the efficient use of resources and stable supply of renewable energy. In doing so, we will achieve growth in harmony with the global environment.

Contributing to the Development of Local Communities and Industries

We steadily procure and provide goods and services to meet the needs of people in various countries and regions and contribute to developing industrial platforms. Through these means, we will create a virtuous cycle in which we can grow and develop together with local communities.

Establishing a Foundation for Comfortable and Enriching Lifestyles

We strive to realize more convenient and comfortable lifestyles by providing goods and services for daily use while also responding to needs for high-quality lifestyles in order to support the physical and mental health of people around the world.

Providing Diverse “Accessibility”

We provide diverse accessibility to open up the possibility of creating new value. To this end, we will improve mobility for safe and efficient flow of people and goods, and expand the network connecting information and finance.

Developing Human Resources and Promoting Diversity

In order to create new value and innovation by allowing our diverse personnel to fully exercise their abilities in a variety of fields, we will promote the development and empowerment of human resources, which represent our most important management resources.

Enhancing Governance

We will enhance our ability to draft and implement strategies for achieving sustainable growth and to provide appropriate supervision of these strategies, all while maintaining transparency. In this manner, we will improve management efficiency and maintain sound management.