【NEWS RELEASE】
April 6, 2021
SMBC Nikko Securities Inc.

Summary of remarks made by President Kondo
in the Spring 2021 Meeting of Department Heads and Branch Managers*

Last year witnessed a series of radical changes due to the COVID-19 calamity while at the sametime shed light on something unchangeable. That is, people cherish personal contacts and ties as
irreplaceable assets despite a major progress in digitalization. This made us realize that we value
personalized relationship with customers and have tremendous growth potential. At the start of thefiscal year, I would like to share four pillars of the management strategy with branch managers anddepartment heads.
The first pillar is the revision of the asset management business in the SMBC Group. We willtransform ourselves into the sales based on the asset management and sophisticate thebank-trust-securities collaboration with a focus on the Wealth Management Business Division thatwas established at Sumitomo Mitsui Financial Group. recently, thereby realizing the true sense ofcustomer-oriented business conduct and creating a great shift from saving to building assets.
The second to intensify capabilities to provide solutions under the single-coverage structure in theGlobal Investment Banking Unit. We will reinforce product functions, while reconstructing thecoverage structure by sector with clarified responsibility for each account, for the provision of best
possible solutions to customers.
The third is the collaboration of the Global Markets Unit and the Global Investment Banking Unit toleverage the capital market and enhance the risk transferring function globally. We will strengthenfunctions to appropriately price ever-diversifying risks caused by the expansion of corporate
activities and connect them with investor needs at home and abroad.
The last is to strengthen the middle-back function that supports business strategies. We will
essentially need to enhance the risk management system that supports the expansion of thebalance sheet business as well as the conduct risk framework amid the increasing social demand
towards the financial world.

This material is an English translation of Japanese announcement made on April 6, 2021. Although the company intended to faithfullytranslate the Japanese document into English, the accuracy and correctness of this translation are not guaranteed and thus you areencouraged to refer to the original Japanese document.

All these reforms are massive and challenging, but I believe each unit and division muster up thedetermination to accomplish them.
Over the past year, we have had a number of experiences that we have never had before. Drastictransformation of society such as the significant acceleration of decarbonization will continuously
gush forth for some time under the slogan of SDGs achievement by 2030. However, changes, if wetake positively, can become key drivers for our growth. Let’s all embrace them to ensure thecompany and each one of us take a great leap forward this year.
*Considering the expansion of COVID-19, we refrain from holding the Spring 2021 Meeting of Department Heads andBranch Managers face-to-face and delivered the President’s message to all employees on video yesterday.

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