We are pleased to announce that SUMITOMO MITSUI TRUST INVESTMENT CO., LTD. (President: Norimasa Yoshida, hereinafter "the Company"), jointly with Shinsei Corporate Investment Co., Ltd. ad_group (President: Kenji Uesaka, hereinafter "Shinsei Corporate Investment"), has been selected as the manager for the "Circular Economy and Natural Capital Promotion Fund" (hereinafter "the Fund") launched by Tokyo.

The Sumitomo Mitsui Trust Group defines its purpose as "Opening the future entrusted to us - creating new value with the power of trust to blossom the prosperous future of our customers and society." The Group places "the coexistence of social and economic value creation" at the core of its management, aiming to achieve a "virtuous cycle of funds, assets, and capital." Sumitomo Mitsui Trust Bank also promotes a circular society by fostering collaboration among businesses, building local circular models, and engaging in joint programs with universities, advancing efforts with a broad spectrum of stakeholders, including companies, local communities, and academia.

In Tokyo, the government is promoting a transition to a circular economy aiming to minimize resource consumption and waste generation as part of its initiatives to achieve "Carbon Half by 2030" and "Zero Emission Tokyo by 2050." Additionally, Tokyo is pursuing "Tokyo Green Biz," a new green project focused on achieving nature-positive outcomes by preventing and restoring ecological loss.

The Company, in collaboration with Shinsei Corporate Investment, will manage the Fund in partnership with Tokyo, aiming to support startups focused on the circular economy and nature-positive initiatives to contribute to a sustainable society that cares for the environment. Following the establishment of the Fund, Tokyo is expected to invest JPY 3 billion within the 2024 fiscal year.

This is the end of the announcement.