SuMi TRUST Covered Bond

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The material on this web page and the web pages accessed through this web page (together, the "Website") have been prepared and furnished solely for information purposes and do not constitute an offer, recommendation or invitation to subscribe for or purchase any securities in any jurisdiction or an inducement to enter into investment activity and nothing contained herein shall form the basis of or be relied on in connection with any contract or commitment or investment decision whatsoever. The Website should not be relied on in connection with any contract or investment decision and investors should not subscribe or purchase any securities in reliance thereof.

Accessing the materials and information on the following Website may not be lawful in certain jurisdictions. In other jurisdictions, only certain categories of person are permitted to access such materials and information. You should only access the following Website if you have informed yourself about and if you observe any applicable legal or regulatory restrictions which relate to the access to or use of such material or information and have satisfied yourself that you are not subject to any local requirements that prohibit or restrict you from accessing the following Website and the materials and information contained therein. Accordingly, neither the materials nor the information on the following Website should be released, published or distributed (in whole or in part) directly or indirectly in or into in any jurisdiction where such distribution or use would be contrary to local law.

If you are not permitted to access the materials and information on the following Website, or accessing such materials or information would result in a breach of the above, or you are in any doubt as to whether you are permitted to access such information, please exit this page by clicking on the "Disagree" button below and, if applicable, seek independent advice.

In particular, the Website may only be accessed by persons which are outside the United States and are not "US persons" as defined in Regulation S under the Securities Act. By accessing the Website you will be taken to have represented, warranted and undertaken that: (i) you are not a person located in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States, (ii) you are not a "US person" as defined in Regulation S under the Securities Act, (iii) you are a person who is permitted under applicable laws and regulations to receive information of the kind contained in the Website and (iv) you have read and agreed to comply with the contents of this notice.

There is no obligation to update, modify or amend the Website or to otherwise notify the recipient if any information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate. You acknowledge and agree that the dealers under the covered bond programme or any future offerings from time to time have no responsibility or liability (express or implied) whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of the Website and neither accepts any liability for any error, omission or misstatement, negligent or otherwise, in the Website and any liability in respect of the Website or any inaccuracy therein or omission there from which might otherwise arise is hereby expressly disclaimed.

Certain statements contained in the Website may be statements of future expectations and other forward-looking statements and involve known and unknown risks and uncertainties. Forward-looking statements contained in the Website regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. There is no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of the Website.

The information contained in the Website is not to be taken as any recommendation made by Sumitomo Mitsui Trust Bank, Ltd. ("SuMi TRUST Bank") or any other person to enter into any agreement with regard to any investment. The presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from SuMi TRUST Bank and will contain detailed information about SuMi TRUST Bank and its management, as well as financial statements. There is no intention to register any part of any offering in the United States. By accessing this Website, you agree to be bound by the foregoing limitations.

Certain information and statistics are derived from publicly available sources. While SuMi TRUST Bank has taken reasonable care to ensure that the information and statistics presented are accurately reproduced from such sources, they have not been independently verified by any of SuMi TRUST Bank, any dealer or their respective affiliates, directors, employees, agents, officers, representatives or advisers and, therefore, none of these parties make any representation as to the accuracy of such information and statistics.

Although the notes to be issued under the covered bond programme share many of the characteristics of typical ‘covered bonds’ and have contractual recourse similar to a ‘contractual covered bond’ (with recourse to trust property as a segregated ‘cover pool’ as well as to the property of SuMi TRUST Bank acting in its proprietary capacity), prospective investors should understand that such notes do not constitute ‘legislative covered bonds’ for the purposes of any law or regulation in any jurisdiction and therefore should not be regarded as such for any such purposes by any person.

Reproduction and Re-Distribution: No part of the materials on the Website may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without our prior written consent. To the extent this communication contains pricing information, such pricing information is proprietary and/or confidential and is provided solely for the internal use of the intended recipient(s). You are notified that any unauthorized use, dissemination, distribution or copying of this communication or its contents, including pricing information, in whole or in part, is strictly prohibited. Further, unless prohibited by local law, any use, review or acceptance of this information is subject to and manifests your agreement to use such information only in accordance with the terms set forth above. SuMi TRUST Bank has caused its proprietary information to be delivered to you in reliance upon such agreement.

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