Kolon Industries to Make Kolon Glotech Wholly-Owned via Cash Exchange at KRW 222,127/Share (Small-Scale)

Kolon Industries decided to exchange shares to make Kolon Glotech a wholly-owned subsidiary (cash-based small-scale exchange). Exchange ratio 1:2.3635812, cash payment KRW 222,127 per Glotech share.
Total cash payment approx. KRW 1 billion (0.031% of prior year net assets), negligible financial impact.
Purpose: streamline management decision-making, maximize business synergy, provide liquidity to Glotech minority shareholders.
No new shares issued → no dilution for existing shareholders. External valuer Samyoung Accounting Corporation deemed exchange price fair.
Small-scale exchange procedure: no shareholder meeting required, no appraisal rights for opposing shareholders. However, if 20%+ shares vote against, contract may be terminated.
Glotech's existing treasury shares (467,821 shares) were cancelled in March 2026; additional treasury shares from exchange to be cancelled.
Tax: potential capital gains tax for Glotech shareholders; securities transaction tax 0.35% of transfer price.

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Filing: Report on Major Events (Stock Exchange/Transfer Decision) (Major Management Matters of Subsidiary)
Company: KOLON (002020)
Submission: KOLON CORPORATION
Receipt: 05-07-2026
Under KRX KOSPI Market Division