/s/ Jun Okahashi

At March 31,

2024

At March 31,

2025

Assets:

Cash and deposits with banks

Call loans and bills bought

Reverse repurchase agreements and cash collateral on securities borrowed

Trading assets

Derivative financial instruments

Financial assets at fair value through profit or loss

Investment securities

Loans and advances

Investments in associates and joint ventures

Property, plant and equipment

Intangible assets

Other assets

Current tax assets

Deferred tax assets

Total assets

Liabilities:

Deposits

Call money and bills sold

Repurchase agreements and cash collateral on securities lent

Trading liabilities

Derivative financial instruments

Financial liabilities designated at fair value through profit or loss

Borrowings

Debt securities in issue

Provisions

Other liabilities

Current tax liabilities

Deferred tax liabilities

Total liabilities

Equity:

Capital stock

Capital surplus

Retained earnings

Treasury stock

Equity excluding other reserves

Other reserves

Equity attributable to shareholders of Sumitomo Mitsui Financial Group, Inc.

Non-controlling interests

Equity attributable to other equity instruments holders

Total equity

Total equity and liabilities

Interest income

Interest expense

Net interest income

Fee and commission income

Fee and commission expense

Net fee and commission income

Net trading income (loss)

Net income from financial assets and liabilities at fair value through profit or loss

Net investment income

Net gains (losses) arising from derecognition of financial assets at amortized cost⁽¹⁾

Other income⁽¹⁾

Total operating income⁽¹⁾

Impairment charges on financial assets

Net operating income⁽¹⁾

General and administrative expenses

Other expenses⁽¹⁾

Operating expenses⁽¹⁾

Share of post-tax profit of associates and joint ventures

Profit before tax

Income tax expense

Net profit

Profit attributable to:

Shareholders of Sumitomo Mitsui Financial Group, Inc.

Non-controlling interests

Other equity instruments holders

Earnings per share⁽²⁾:

Basic

Diluted

Net profit

Other comprehensive income:

Items that will not be reclassified to profit or loss:

Remeasurements of defined benefit plans:

Gains (losses) arising during the period, before tax

Equity instruments at fair value through other comprehensive income:

Gains (losses) arising during the period, before tax

Own credit on financial liabilities designated at fair value through profit or loss:

Gains (losses) arising during the period, before tax

Share of other comprehensive income (loss) of associates and joint ventures

Income tax relating to items that will not be reclassified

Total items that will not be reclassified to profit or loss, net of tax

Items that may be reclassified subsequently to profit or loss:

Debt instruments at fair value through other comprehensive income:

Gains (losses) arising during the period, before tax

Reclassification adjustments for (gains) losses included in net profit, before tax

Exchange differences on translating foreign operations:

Gains (losses) arising during the period, before tax

Reclassification adjustments for (gains) losses included in net profit, before tax

Share of other comprehensive income (loss) of associates and joint ventures

Income tax relating to items that may be reclassified

Total items that may be reclassified subsequently to profit or loss, net of tax

Other comprehensive income (loss), net of tax

Total comprehensive income

Total comprehensive income attributable to:

Shareholders of Sumitomo Mitsui Financial Group, Inc.

Non-controlling interests

Other equity instruments holders

“Net gains (losses) arising from derecognition of financial assets at amortized cost” previously included in “Other income” and “Other expenses,” respectively, were presented separately for the fiscal year ended March 31, 2025. The comparative amounts of the consolidated income statements have been reclassified to conform to the current presentation.

As resolved by the board of directors on May 15, 2024, the Company implemented a stock split of its common stock with an effective date of October 1, 2024, whereby each share of common stock owned by shareholders listed or recorded in the closing register of shareholders on the record date of September 30, 2024 was split into three shares. Basic and diluted earnings per share are calculated based on the assumption that the stock split had been implemented at the beginning of the fiscal year ended March 31, 2024.

At and for the fiscal year ended

March 31, 2025

IFRS

Differences arising from different accounting for:

1. Scope of consolidation

2. Derivative financial instruments

3. Investment securities

4. Loans and advances

5. Investments in associates and joint ventures

6. Property, plant and equipment

7. Lease accounting

8. Defined benefit plans

9. Deferred tax assets

10. Foreign currency translation

11. Classification of equity and liability

Others

Tax effect of the above

Japanese GAAP

Under IFRS, the Group consolidates an entity when it “controls” the entity. In general, the Group considers that it controls an entity when it has the existing rights that give it the current ability to direct the operating and financing policies by owning more than half of the voting power, or by legal or contractual arrangements.

All types of entities, irrespective of their purpose or legal form, are consolidated under IFRS when the substance of the relationship between the entities and the Group indicates that the entities are controlled by the Group. Therefore, certain entities such as securitization vehicles which are not consolidated under Japanese GAAP are consolidated under IFRS.

The Group applies hedge accounting under Japanese GAAP. However, the qualifying criteria for certain hedge accounting under IFRS are more rigorous than those under Japanese GAAP. Therefore, except for fair value hedge accounting and hedge accounting for net investments in foreign operations the Group applies under IFRS, the effects of hedge accounting under Japanese GAAP have been reversed under IFRS.

Under Japanese GAAP, stocks and financial instruments similar to stocks that are not traded in an active market, such as unlisted stocks, are measured at cost if they are classified as available-for-sale, whereas, under IFRS, those are measured at fair values determined by using valuation techniques.

Under Japanese GAAP, the changes in fair value of available-for-sale financial assets are recognized in other comprehensive income and subsequently transferred to profit or loss on their disposal. Under IFRS, the Group made an irrevocable election for some equity instruments to present subsequent changes in fair value in other comprehensive income. The changes in fair value of those equity instruments presented in other comprehensive income are not subsequently transferred to profit or loss.

Some available-for-sale financial assets under Japanese GAAP, including investment funds, are classified as financial assets measured at fair value through profit or loss, and therefore the changes in their fair values are recognized in profit or loss under IFRS.

Under Japanese GAAP, the allowance for loan losses is calculated based on credit assessments at the end of the reporting period. A collective allowance is calculated using historical loss experience based on historical results according to the obligor grade, adding forward looking information as appropriate. The allowance for specifically identified significant loans is calculated by the discounted cash flow (“DCF”) method, which is based on the present value of reasonably estimated cash flows discounted at the original contractual interest rate of the relevant loan. For the remaining loans, an individual allowance is calculated based on the estimated uncollectible amount considering historical loss experience and the recoveries from collateral, guarantees and any other collectible cash flows.

Under IFRS, measurement of expected credit losses (“ECL”) depends on whether the credit risk on the financial asset has increased significantly since initial recognition. If there is not a significant increase in credit risk on that financial asset since initial recognition, an allowance is measured at an amount equal to 12-month expected credit losses. Otherwise, an allowance is measured at an amount equal to lifetime expected credit losses. The allowance for loan losses for individually significant impaired loans is calculated by the DCF method based on the present value of estimated future cash flows discounted at the financial asset’s original effective interest rate, which differs from the calculation of the DCF method under Japanese GAAP. The scope of loans that are subject to the DCF method under IFRS is wider than that under Japanese GAAP. ECL are measured in a way that reflects not only past events, but also current conditions and forecasts of future economic conditions.

Under Japanese GAAP, loan origination fees and costs are generally recognized in the consolidated income statement as incurred. Under IFRS, loan origination fees and costs that are incremental and directly attributable to the origination of a loan are deferred and thus, included in the calculation of the effective interest rate.

Under IFRS, deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. For example, deferred tax assets for deductible temporary differences relating to impairment of financial instruments of which the timing of the reversal is difficult to estimate cannot be recognized under Japanese GAAP, whereas they can be recognized under IFRS to the extent that it is probable that future taxable profit will be available.

Under IFRS, a financial instrument or its component parts are classified as equity instruments or financial liabilities in accordance with the substance of the contractual arrangement and the definitions of financial liabilities and equity instruments. A financial instrument is classified as a financial liability if there is a contractual obligation to deliver cash or another financial asset other than a fixed number of equity shares in exchange for a fixed amount of cash or another financial asset. In the absence of such a contractual obligation, the financial instrument is classified as an equity instrument.