Material Event (Form 6-K)

Documents Attached to the Notice of Convocation of the Ordinary General Meeting of Shareholders

Business Report for the 19th Fiscal Year

April 1, 2020 to March 31, 2021

Sumitomo Mitsui Financial Group, Inc.

(Documents Attached to the Notice of Convocation of the Ordinary General Meeting of Shareholders)

Business Report for the 19th Fiscal Year

(April 1, 2020 to March 31, 2021)

1. Matters Regarding the Current Condition of the Company

Economic and Financial Environment

During fiscal 2020 (fiscal year ended March 31, 2021), following the major slowdown due to the spread of the 2019 novel coronavirus disease (COVID-19), the global economy returned to the path of recovery, thanks to positive fiscal policy and monetary easing policy around the world and restart of economic activities. However, since last fall, the pace of recovery slowed down as the spread of COVID-19 in each country gained momentum again. As for the Japanese economy, personal consumption showed a drastic slump due to factors such as restraint of sales activities in response to the state of emergency declared in April last year, and exports also showed a drastic slowdown affected by the deterioration of the global economy. Afterwards, personal consumption as well as exports started to increase thanks to the resumption of economic activities both domestically and globally, along with the recovery in capital investment, in particular by IT investments for promoting working from home, which, however, has been reversed from January 2021 onward as the state of emergency was declared again, with growing downward pressure on consumption activities not least those involving food service or accommodation.

In the Japanese financial and capital markets, short-term interest rates trended largely within a range between minus 0.07% and minus 0.01% led by the Bank of Japan (BOJ)'s Quantitative and Qualitative Monetary Easing with Yield Curve Control. Long-term interest rates, meanwhile, trended largely within a range between 0% and 0.05% but temporarily rose to the 0.16% range in February this year, in line with the increase in the long-term interest rates in the U.S. supported by the surging expectation of economic recovery, followed thereafter by a period up to fiscal year end in which the interest rate was trending around 0.1% level. In the areas of foreign exchange, yen appreciated up until early January this year reaching the range of 102 yen per U.S. dollar buoyed by an expectation of prolonged low interest rates in the U.S. However, it was followed by a period of weaker yen up until the fiscal year end, resulting in the exchange rate beyond the level of 110 yen per U.S. dollar. The Nikkei Stock Average recovered to the level of 30,000 yen for a while in February this year, backed up by an anticipation of the improvement in corporate earnings associated with the recovery of the global economy, to be followed by a calming-down period up to the end of the fiscal year in which the index was trending around the range of 29,000 yen due to the growing concerns over the potential increase in the long-term interest rates in the U.S.

Regarding financial-related laws and regulations, the 'Act for Partial Amendments to the Act on the Sales of Financial Instruments, etc. for the Enhancement of the Convenience for and the Protection of Users of Financial Services' was enacted in June last year, which involves the establishment of financial services intermediary business and the review of the regulations on funds transfer service providers. Furthermore, in January this year, amendment was also made to the 'Principles Concerning Customer-Oriented Business Conduct' published by the Financial Services Agency, whereby financial business operators are now required to clarify the status of compliance with each item under the aforementioned principles.

Business Progress and Results

Under these economic and financial circumstances, Sumitomo Mitsui Financial Group, Inc. (hereinafter, 'the Company') and its subsidiaries (hereinafter, collectively with the Company, 'the Group'), conducting mainly commercial banking and other financial services, including leasing, securities, and consumer finance, have been working hard to fulfill its social mission of providing financial services smoothly, despite the enormous impact on customers and society caused by the spread of COVID-19. Specifically, in order to meet the urgent financial needs of customers, Sumitomo Mitsui Banking Corporation took measures including the smooth funding and loans with lower interest rate burden for customers using special operations by the BOJ, and more flexible loan examination procedures, while the Group expanded online services for various procedures so that various services are available for customers without visiting its branches. In addition, as a contribution to the local communities and society, support was provided for medical research, medical activities, and the promotion of culture and arts. Furthermore, services have been continued while ensuring the safety of its customers and employees by preventing the spread of COVID-19 at business offices and promoting working from home among its employees.

1

In the first year of the Medium-Term Management Plan to realize the vision of 'Becoming a highly trusted global solution provider committed to the growth of our customers and advancement of society,' the Company has been implementing various initiatives based on the three core policies that the Company has established to achieve sustainable growth for the Group.

With the aim of improving the profitability and efficiency of the main businesses and expanding the revenue base, the Group has focused on the following seven key strategies, prioritizing thoroughly the allocation of resources to businesses, working to fundamentally reform the Group's business model and cost structure, steadily making investments for the future, and striving to capture new growth opportunities and create added value including non-financial business.

Specifically, the following initiatives were advanced in the Retail, Wholesale, Global, and Global Markets Business Units.

(a) Retail Business Unit

The Retail Business Unit engages mainly in business aimed at retail customers.

In order to pursue the sustainable growth of the wealth management business, a new brand, SMBC Private Wealth, was launched mainly targeting high-net-worth individuals, and established a one-stop system to provide various services that had been provided separately by each company in the Group. In addition, Sumitomo Mitsui Banking Corporation promoted the shift of its branches from conventional ones to ones that focus on providing customers with wealth management consultations by improving efficiency through the use of IT technology. With regard to the payment business, Sumitomo Mitsui Card Company, Limited implemented a full-scale launch of 'stera,' a comprehensive payment platform for businesses, in order to meet the growing needs of customers for cashless services. In the consumer finance business, SMBC Consumer Finance Co., Ltd. continued to focus on initiatives such as the implementation of 'App Loans' service, which allows customers to complete the entire process starting from application to completion of loan using a smartphone app, in an effort to improve customer convenience.

2

(b) Wholesale Business Unit

The Wholesale Business Unit engages in business mainly aimed at corporate clients in Japan.

In the midst of a drastically changing market and business environment, sales and product development departments have worked together to conduct business promotion for customers confronting increasingly sophisticated and complex management issues, and have provided high value-added services such as support for corporate acquisitions domestically and globally. In addition, for customers who suffered from struggling business performance and financial deterioration due to COVID-19, smooth funding and support for fund procurement in the capital market was provided, and mainly through SMBC Capital Partners Co., Ltd. which was established in February last year, supported business structure reform, business model reform, and business succession. Furthermore, through 'PlariTown,' a platform that provides one-stop access to the digital services of the Group and various service providers collaborating with the Group, the Group has been providing various digital solutions including non-financial services such as an electronic contract service provided by SMBC CLOUDSIGN, Inc. and support for the introduction of working from home.

(c) Global Business Unit

The Global Business Unit engages in business aimed at Japanese and non-Japanese corporate clients and financial institutions operating business overseas, and foreign corporate clients operating inside Japan.

For overseas customers, the Global Business Unit has worked to further refine the CIB business and provided Group-wide solutions in areas such as support in corporate acquisition and bond underwriting. In addition, expansion in businesses in which the Group has strengths, such as subscription finance, a type of financing method for real estate funds, was continued. In Asia, in order to establish a comprehensive financial group centered the consolidated subsidiary, PT Bank BTPN Tbk in Indonesia, the Global Business Unit has reinforced business foundations by measures such as strengthening digital banking.

(d) Global Markets Business Unit

The Global Markets Business Unit carries out ALM operations (Note 2) that comprehensively manage the liquidity risk and interest rate risk, and provides customers with services through marketable products such as foreign currency, derivatives, bonds, and stocks.

Amidst significant fluctuations in the market environment due to factors including the spread of COVID-19 and monetary policies on a global level, the Global Markets Business Unit secured profits by boldly and flexibly replacing the portfolio in investments of bond and other assets. In addition, by strengthening the global collaboration among the Group companies led by SMBC Nikko Securities Inc., the solution for financial needs to meet the diverse investment needs of corporate and investor clients were promoted.

Furthermore, the Group strengthened the asset management business with high asset efficiency by investing in Affirmative Investment Management Partners Limited, a U.K.-based asset management company, and by making Alternative Investment Capital Limited, which has one of the prominent operating bases in the private equity fund investment field in Japan, a subsidiary.

In order to realize sustainable growth as a global financial institution, consistent effort has been made to enhance the management system and corporate infrastructure.

First, the Group has ensured customer-oriented approach as a basic management policy, by taking measures such as the preparation of proposal materials that take universal design into consideration in order to provide information that is easy for customers to understand.

3

As part of the effort to realize a sustainable society, the Company has launched 'GREEN × GLOBE Partners' as a community to solve environmental and social issues, and issued disclosure reports in line with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD (Note 3)). In addition, Sumitomo Mitsui Banking Corporation and SMBC Nikko Securities Inc. have worked proactively to address risks in climate change by focusing on investment and finance (green finance) that limits the use of funds to environmentally-friendly projects.

Moreover, the Group took steps to sophisticate its human resource management and development, including the focused allocation of personnel from each company in the Group to business domains with growth potential, as well as the construction of IT infrastructure that combines improved customer convenience with robust cyber security, such as expanded measures to prevent unauthorized withdrawal of funds via payment service providers.

Furthermore, with the aim of further strengthening the management system on a global basis, the Company transferred the risk management and compliance functions of the major overseas offices to independent departments and appointed an Outside Director as a Chairman of the Risk Committee, an internal committee of the Board of Directors, in order to strengthen independence of the Risk Committee.

As a result of these initiatives, the Company recorded consolidated ordinary profit and consolidated profit attributable to owners of parent of 711.0 billion yen and 512.8 billion yen, respectively, in fiscal 2020.

[Summary of Performance]

Sumitomo Mitsui Financial Group (Consolidated)

Sumitomo Mitsui Banking Corporation (Non-Consolidated) (For reference)

Issues to be Addressed

While COVID-19 continues to have an enormous impact on customers and society, the Group will continue to fulfill the social mission as financial infrastructure essential for maintaining social functions, by providing financial services through the Group and striving to further digitize and adopt cashless services.

In addition, the Group will accelerate the achievement of measures based on the three core policies mentioned above, taking into account the changes in lifestyles and values triggered by COVID-19, and the growing momentum toward the realization of a sustainable society, while addressing medium-term and long-term issues such as global continuous of low growth, low interest rates, and low inflation, and structural changes in the society and the economy due to the advancement of technology.

4

The Group will continue to focus on the seven key strategies, while prioritizing thoroughly the allocation of resources to businesses, working to fundamentally reform its business model and cost structure, steadily making investments for the future, and striving to capture new growth opportunities and create additional value, including non-financial business.

Specifically, in the Retail Business Unit, the Group will seek to increase the profitability of the wealth management business by utilizing digital technology and strengthening the ability to respond to high-net-worth individuals, as well as to expand its market share and improve profitability in the payment and consumer finance businesses. In the Wholesale Business Unit, the Group will aim to increase non-interest income by strengthening the ability to respond to needs for financial soundness and business restructuring, as well as by strengthening the ability to provide solutions, including non-financial services. In the Global Business Unit, the Group will work to further strengthen the competitiveness of the CIB business and expand its business platform in Asia. In the Global Markets Business Unit, the Group will strive to secure profits by nimble portfolio management of stocks and bonds in response to changes in the market environment, and will also work to strengthen the ability to provide solutions that meet the diverse investment targets of customers. In addition, the Group will continue to focus on strengthening the asset management business as a business with high asset efficiency.

The Group will make a consistent effort to enhance the management system and corporate infrastructure as a global financial institution to realize sustainable growth.

Specifically, the Group will set short-term, medium-term, and long-term targets for climate change-related efforts to realize a sustainable society, and consider policies for addressing businesses that are expected to have a relatively large impact on climate change. In addition, as a key measure of the long-term plan for sustainability 'SMBC Group GREEN × GLOBE 2030', the Group will further promote initiatives for investing and financing in environment-related fields and enhancement of financial and economic education for all generations. Furthermore, the Group will strengthen its corporate governance system for sustainable society initiatives by appointing a Group Chief Sustainability Officer (CSuO) and considering the prompt establishment of a Sustainability Committee as an internal committee of the Board of Directors.

In addition, the Group will continue to improve the refinement of personnel allocation and organizational productivity so that each employee can maximize his or her capabilities, and the Group will also further promote strategic system investment and cyber security enhancement to drive business transformation through digitalization. Furthermore, as a basic management policy, the Group will continue to ensure its customer-oriented approach and strengthen its efforts to enhance the integrity of risk management and compliance on a group and global basis.

The Group aims to respond to shareholder expectations by showing steady results regarding the initiatives described above. The Group looks forward to the continued understanding and support of its shareholders.

5

a. Changes in Financial Position and Results of Operations (Consolidated Basis)

Unit: millions of yen

6

b. Changes in Financial Position and Results of Operations (Non-Consolidated Basis)

Unit: millions of yen

7

8

9

a. Total Amount of Capital Investment

Unit: millions of yen

b. Establishment of Principal Facilities, etc.

Unit: millions of yen

10

Not applicable.

11

(Note) Amounts less than one million yen have been rounded down.

Not applicable.

12

2. Matters regarding Directors and Corporate Executive Officers

(As of March 31, 2021)

13

Directors who resigned during fiscal 2020

Not applicable.

14

(As of March 31, 2021)

15

16

Corporate Executive Officers who resigned during fiscal 2020

17

(2) Compensation, etc. for Directors and Corporate Executive Officers

Unit: millions of yen

Policy for individual remuneration for directors, corporate executive officers and executive officers

The Company hereby establishes the Executive Compensation Policy (the 'Policy') in order to provide guiding principles for its Compensation Committee to determine individual remuneration for its directors, corporate executive officers and executive officers (the 'Executives').

The Policy's aim is that executive compensation pursuant to it shall provide the appropriate incentives for the Executives to pursue Our Group Mission and Our Vision.

Our executive compensation shall be determined in accordance with the core principles below:

18

Weight by each target index is as follows:

Weight by each target index is as follows:

19

20

Reason of the selection of target index used for calculating performance-linked compensation and the actual performance

The Company shall pay annual performance-linked compensation in the form of 'Cash bonus' and 'Stock Compensation Plan II.'

The Company adopts as target indices, 'SMFG Net income' which indicates the bottom line business results, 'SMBC Banking profit' and 'SMBC Net income (Pre-Tax)' which indicates earnings level of main subsidiaries, with a view to enhancing the linkage between corporate performance and Executives' compensation, and ensuring adequacy of its function as performance incentive.

For fiscal 2020, with respect to 'Cash bonus' and 'Stock Compensation Plan II,' the actual performance of each target index and performance evaluation coefficient are as follows.

The Compensation Committee determines performance evaluation coefficient based on the actual performances of each target index for fiscal 2020, which then will be multiplied by the sum of the standard bonus amount by corporate titles to determine bonus fund. Based on this bonus fund, the amounts of performance-linked remuneration for individual Executives shall be determined considering short-term and medium-/long-term of the individual performance of duties of each Executives.

The Company pays medium-term performance-linked compensation in the form of 'Stock Compensation Plan I.'

In order to hold the Executives accountable and provide them with appropriate incentives for contribution to the medium-term to long-term corporate performance, enhancement of shareholder value and realization of sustainable society, 'TSR (Total Shareholder Return)' is adopted as share performance index in addition to four financial performance indices of 'ROCET 1,' 'Base expense,' 'Gross profit' and 'Net income.'

In addition to the aforementioned quantitative indices, the four qualitative areas of evaluation, namely, 'Customer satisfaction,' 'ESG initiative,' 'Employee engagement' and 'Efforts to develop new business areas' shall be comprehensively assessed at the Compensation Committee, and reflected on the evaluation.

The Compensation Committee shall, following the final year of the period covered under the current Medium-Term Management Plan, determine its evaluation of the aforementioned target index based on the actual performance against the Medium-Term Management Plan as basis for calculating the amount of remuneration.

As the actual result of the target index for the medium-term performance-linked compensation shall be determined only after the end of the final year of the period covered under the current Medium-Term Management Plan, only the description of each target index and the evaluation weight are described here.

21

Reason of the decision by the Compensation Committee that individual remuneration for corporate executive officers and other executives are in line with the Policy

The Company decided at its Compensation Committee 'Executive compensation policy' and the executive compensation programme including the compensation programme as prescribed under the Policy, and individual remuneration for corporate executive officers and other executives are decided in accordance with the procedures set out under the Policy. The Compensation Committee decided that individual remuneration for corporate executive officers and other executives were in line with the Policy, based on the results of the third-party surveys on the Executive's compensation, and the multilateral review and examination on various factors such as whether the executive compensation programme is working as appropriate incentive in view of the business environment surrounding the Group and the corporate performance over short-term, medium-term, and long-term.

22

(3) Liability Limitation Agreement

(4) Indemnity Agreement

a. Indemnity agreement with incumbent directors and corporate executive officers

b. Matters concerning the fulfillment of the indemnity agreement, etc.

Not applicable.

23

(5) Matters Concerning Directors and Officers Liability Insurance Contract

24

3. Matters regarding Outside Directors

(1) Concurrent Positions and Other Details on Outside Directors

25

(2) Major Activities of Outside Directors

(Note) Periods of service of the Directors above of less than one month have been rounded down.

26

(3) Compensation, etc. for Outside Directors

Unit: millions of yen

27

4. Matters regarding Shares of the Company

(1) Number of Shares

(3) Major Shareholders

Common Stock

28

(4) Shares delivered to Executives

29

5. Matters regarding the Accounting Auditor

Not applicable.

Not applicable.

The Audit Committee discusses whether to dismiss the Accounting Auditor where they fall under any of the grounds set forth in each item of Paragraph 1 of Article 340 of the Companies Act. In addition to that, when it is determined to be difficult for the Accounting Auditor to appropriately execute his or her duty, the Audit Committee discusses whether to forward a proposal for the dismissal or nonreappointment of the Accounting Auditor to the general meeting of shareholders in accordance with Article 404, Paragraph 2, Item 2 of the Companies Act.

30

Consolidated Balance Sheet

(As of March 31, 2021)

Unit: millions of yen

31

Consolidated Statement of Income

(From April 1, 2020 to March 31, 2021)

Unit: millions of yen

32

Consolidated Statement of Changes in Net Assets

(From April 1, 2020 to March 31, 2021)

Unit: millions of yen

33

Non-Consolidated Balance Sheet

(As of March 31, 2021)

Unit: millions of yen

34

Non-Consolidated Statement of Income

(From April 1, 2020 to March 31, 2021)

Unit: millions of yen

35

Non-Consolidated Statement of Changes in Net Assets

(From April 1, 2020 to March 31, 2021)

Unit: millions of yen