Notice of Conclusion of Basic Agreement on Capital Restructuring of Sumitomo Mitsui Trust Panasonic Finance and Change in Consolidated Subsidiaries

Background and Purpose of Capital Restructuring

Sumitomo Mitsui Trust Holdings has agreed to a basic agreement to conduct capital restructuring of Sumitomo Mitsui Trust Panasonic Finance (SMTPFC), a consolidated subsidiary of Sumitomo Mitsui Trust Bank, in collaboration with Fuyo General Lease and Yokohama Financial Group. SMTPFC is advancing its growth strategy as a comprehensive lease finance company. Through this capital restructuring, it aims to optimize the allocation of management resources and expand its business domains. Under the new structure, SMTPFC will become an equity-method affiliated company of Sumitomo Mitsui Trust Bank, enhancing operational flexibility.

New Shareholder Composition and Future Schedule

Following the capital restructuring, the expected shareholding ratios of SMTPFC's outstanding shares will be Sumitomo Mitsui Trust Bank 45%, Fuyo General Lease 40%, and Yokohama Financial Group 15%. The basic agreement was signed on March 30, 2026. The share transfer agreement and shareholders’ agreement are scheduled to be signed in July 2026, with the share transfer execution planned for October 1, 2026. The number of shares transferred and transfer price will be determined through future discussions. The impact on fiscal 2026 results is currently undecided and will be disclosed promptly as necessary.