Concerning the Transfer of the Pogo Gold Mine

Sumitomo Metal Mining Co., Ltd. (SMM) and Sumitomo Corporation have decided to transfer all of our interest in the Pogo Mine to major Australian gold producer Northern Star Resources Limited (headquarters: Perth, Australia; hereinafter "Northern Star").

The Pogo Mine began operation in the U.S. state of Alaska in 2006, with SMM serving as mine operator since 2009. SMM has reached an agreement to transfer a 100% interest in the Pogo Mine, including the 15% interest held by Sumitomo Corporation, to Northern Star, which operates numerous underground gold mines in Australia, and which will take on all of the assets and liabilities of the Pogo Mine.

Compensation for the transfer of the Pogo Mine is USD 260 million (100%), with the transfer scheduled to close the transaction by October, 2018 subject to obtaining necessary approvals and satisfaction of other customary conditions.

As the target for its long-term vision, SMM aims to achieve gold mining assets equating to production of 30 tonnes/year. At the Côté Gold Project, in which SMM acquired an interest in 2017, SMM has participated in commercialization process since the initial planning stage, with the goal of production launch in 2021. SMM maintains its business policy to aim its own operationship in mining. SMM aims to become "the world leader in the non-ferrous metals" which is our long-term vision target by acquiring further high quality assets in gold mining, while trying to revitalize its assets by replacement.

Sumitomo Corporation will continue to make efforts to contribute not only to the stable supply of resources but also to the development of the regional economy.

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