To Our Shareholders - On the occasion of the renewal of the Takeover Defense Measures -

June 25, 2019
Sumitomo Metal Mining Co., Ltd.

Thank you for attending or exercising your voting rights at the 94th Ordinary General Meeting of Shareholders held today. With the approval of a majority of our shareholders, we have renewed our Takeover Defense Measures. We appreciate for your understanding of the need for the Takeover Defense Measures and for supporting the management's decision.

As explained again, the Company has promising resources and technologies, and has a unique business model where natural resources, smelting and materials handled consistently, from natural resources development to battery material supply. Based on the peculiarities of our business like this, compared with a general company, there is some possibility that an acquirer will pursue short-term profit and a strong and abusive acquisition will be made. As a result, such acquisition may cause compared with an ordinary acquire, more serious damages to corporate value and common interests of shareholders if it takes place. In preparation for such a case, we proposed the renewal of Takeover Defense Measures.

Under the 2018 med-term business plan covering from fiscal year 2019 to 2021, not only in the next three years, but with an awareness of the challenges facing the new stage in 10 and 15 years ahead, we develop important measures that will provide a foothold for future growth. By steadily carrying out these measures, we will promote the growth strategies of each of our core businesses of resources, smelting and materials, aiming at the long-term vision of "a non-ferrous leader in the world".

We look forward to your continued understanding and support of our management.

Sincerely,

President and Representative Director

Akira Nozaki