SMBC/SMFG disclose 7.1% stake in Polestar (PSNY) via 10.34M ADSs

Rhea-AI Filing Summary

Polestar Automotive Holding UK PLC ownership disclosure: Sumitomo Mitsui Banking Corporation (SMBC) reports beneficial ownership of 10,341,261 Class A ADSs, representing 310,237,830 Class A Ordinary Shares (each ADS = 30 Class A Shares), equal to 7.1% of the Class A share base. The filing states these figures are based on share counts disclosed as of April 17, 2026, and notes that Sumitomo Mitsui Financial Group, Inc. (SMFG) as parent may be deemed to share voting and dispositive power.

Insights

Corporate Governance Analyst

Parent bank group reports a sizable, shared stake in Polestar via ADSs.

The filing lists 10,341,261 Class A ADSs (representing 310,237,830 underlying Class A Shares) and states 7.1% ownership as of April 17, 2026. It clarifies that SMBC holds the ADSs and SMFG, as parent, may be deemed to share voting and dispositive power.

Dependence on the issuer's disclosed outstanding counts anchors the percentage. Subsequent filings or investor communications would show whether this position is active or passive; cash‑flow treatment and any plans to trade are not stated in the excerpt.

Equity Structure Specialist

ADS conversion ratio and outstanding share counts drive the ownership math.

The schedule highlights the ADS structure: each ADS equals 30 Class A Shares, so 10,341,261 ADSs correspond to 310,237,830 Class A Shares. The filing cites the issuer's April 17, 2026 outstanding figures used to compute 7.1%.

Because Class B Shares are convertible into Class A Shares and the filing "assumes the conversion," the percentage reflects that conversion assumption. Future disclosures would be needed to assess voting alignment or any planned dispositions.

Key Figures

ADS beneficially owned: 10,341,261 ADSs Underlying Class A Shares represented: 310,237,830 Class A Shares Percent of class: 7.1% +3 more

6 metrics

ADS beneficially owned 10,341,261 ADSs reported by SMBC

Underlying Class A Shares represented 310,237,830 Class A Shares 10,341,261 ADSs × 30 shares per ADS

Percent of class 7.1% computed using issuer counts as of <date>April 17, 2026</date>

Class A Shares outstanding 4,315,957,440 Class A Shares issuer disclosure as of <date>April 17, 2026</date>

Class B Shares outstanding 29,892,570 Class B Shares issuer disclosure as of <date>April 17, 2026</date>

ADS conversion ratio 1 ADS = 30 Class A Shares stated in the filing

Key Terms

American Depositary Shares (ADSs), Beneficial owner, Shared dispositive power

3 terms

American Depositary Shares (ADSs) financial

"Class A American Depositary Shares ("ADSs"), each ADS representing 30 Class A Ordinary Shares"

A U.S.-listed certificate that stands for a specific number of shares in a non‑U.S. company held by a U.S. bank, making the foreign stock tradable on American exchanges in dollars. Think of it like a local voucher that represents ownership of an overseas product — it lets U.S. investors buy and sell foreign companies without handling foreign currency or foreign brokerage accounts, but it can affect dividends, voting rights, fees, liquidity and exposure to currency and regulatory differences.

Beneficial owner regulatory

"SMBC is the beneficial owner of 10,341,261 Class A ADSs"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Shared dispositive power regulatory

"SMFG may be deemed to share voting and dispositive power over the Class A ADSs"

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 05/15/2026 - 06:17 AM Learn about SEC filing dates

FAQ

What stake does SMBC/SMFG report in Polestar (PSNY)?

SMBC reports beneficial ownership of 10,341,261 Class A ADSs, representing 310,237,830 Class A Shares. The filing states this equals 7.1% of the company's Class A share base, using counts as of April 17, 2026 disclosed by the issuer.

How does one ADS translate to Polestar ordinary shares?

Each Class A American Depositary Share (ADS) represents 30 Class A Ordinary Shares. The filing explicitly states the 30:1 ratio and uses it to convert 10,341,261 ADSs into 310,237,830 underlying Class A Shares.

Does SMFG also claim ownership or control of the PSNY shares?

The filing states SMBC is the direct beneficial owner and that SMFG, as SMBC's parent, may be deemed to share voting and dispositive power over those ADSs. It attributes shared power to the parent by corporate relationship, not by separate holdings.

What outstanding share counts does the filing use to compute 7.1%?

The schedule cites the issuer's disclosure as of April 17, 2026: 4,315,957,440 Class A Shares (in the form of 143,865,248 Class A ADSs) and 29,892,570 Class B Shares (in the form of 996,419 Class B ADSs), and it assumes conversion of Class B into Class A for the percentage.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Polestar Automotive Holding UK PLC

(Name of Issuer)

Class A American Depositary Shares ("ADSs"), each ADS representing 30 Class A Ordinary Shares, par value $0.01 each

(Title of Class of Securities)

731105409

(CUSIP Number)

02/05/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 731105409

1

Names of Reporting Persons

Sumitomo Mitsui Banking Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,341,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,341,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,341,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.1 %

12

Type of Reporting Person (See Instructions)

BK, FI

Comment for Type of Reporting Person: Note to Rows 6 and 8: Each Class A ADS represents thirty (30) Class A Ordinary Shares, par value $0.01 each. Sumitomo Mitsui Banking Corporation ("SMBC") is the beneficial owner of 10,341,261 Class A ADSs, representing 310,237,830 Class A Ordinary Shares, of the Issuer. SMBC is a direct, wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc. ("SMFG"). Accordingly, as the parent company of SMBC, SMFG may be deemed to share voting and dispositive power over the Class A ADSs of the Issuer of which SMBC is the beneficial owner. Note to Row 11: Based on (i) 4,315,957,440 Class A Shares in the form of 143,865,248 Class A ADSs and (ii) 29,892,570 Class B Shares in the form of 996,419 Class B ADSs outstanding on April 17, 2026, as disclosed by the Issuer in Item 7 of its Annual Report on Form 20-F for the year ended December 31, 2025. Each Class B Share is convertible into one Class A Share at any time at the option of the holder of such Class B Share. Assumes the conversion of the Class B Shares referred to above into Class A Shares.

SCHEDULE 13G

CUSIP Number(s): 731105409

1

Names of Reporting Persons

Sumitomo Mitsui Financial Group, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 10,341,261.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,341,261.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,341,261.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.1 %

12

Type of Reporting Person (See Instructions)

HC, FI

Comment for Type of Reporting Person: Note to Rows 6 and 8: Each Class A ADS represents thirty (30) Class A Ordinary Shares, par value $0.01 each. SMBC is the beneficial owner of 10,341,261 Class A ADSs, representing 310,237,830 Class A Ordinary Shares, of the Issuer. SMBC is a direct, wholly-owned subsidiary of SMFG. Accordingly, as the parent company of SMBC, SMFG may be deemed to share voting and dispositive power over the Class A ADSs of the Issuer of which SMBC is the beneficial owner. Note to Row 11: Based on (i) 4,315,957,440 Class A Shares in the form of 143,865,248 Class A ADSs and (ii) 29,892,570 Class B Shares in the form of 996,419 Class B ADSs outstanding on April 17, 2026, as disclosed by the Issuer in Item 7 of its Annual Report on Form 20-F for the year ended December 31, 2025. Each Class B Share is convertible into one Class A Share at any time at the option of the holder of such Class B Share. Assumes the conversion of the Class B Shares referred to above into Class A Shares.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Polestar Automotive Holding UK PLC
(b)	Address of issuer's principal executive offices: Assar Gabrielssons Vag 9 Gothenburg, Sweden, 405 31
Item 2.
(a)	Name of person filing: Sumitomo Mitsui Banking Corporation ("SMBC") Sumitomo Mitsui Financial Group, Inc. ("SMFG")
(b)	Address or principal business office or, if none, residence: The address of the principal business office of SMBC and SMFG is 1-2, Marunouchi 1-Chome, Chiyoda-Ku, Tokyo 100-0005
(c)	Citizenship: The place of organization of SMBC and SMFG is Japan
(d)	Title of class of securities: Class A American Depositary Shares ("ADSs"), each ADS representing 30 Class A Ordinary Shares, par value $0.01 each
(e)	CUSIP Number(s): 731105409
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Bank
Item 4.	Ownership
(a)	Amount beneficially owned: 10,341,261
(b)	Percent of class: 7.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 10,341,261
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 10,341,261
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. SMBC is a direct, wholly-owned subsidiary of SMFG and is the beneficial owner of the Class A ADSs of the Issuer reported herein. Accordingly, SMFG may be deemed to share voting and dispositive power over the Class A ADSs of the Issuer of which SMBC is the beneficial owner. SMBC is classified under Item 3 as a non-U.S. institution (bank).
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to a bank is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution. I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sumitomo Mitsui Banking Corporation

Signature:	/s/ [Hideyuki Omokawa]
Name/Title:	[Hideyuki Omokawa, Managing Executive Officer]
Date:	05/15/2026

Sumitomo Mitsui Financial Group, Inc.

Signature:	/s/ [Hideyuki Omokawa]
Name/Title:	[Hideyuki Omokawa, Managing Executive Officer]
Date:	05/15/2026