Rehabilitation Plan Approval Improves Financial Structure, Uncertainty Remains

Rehabilitation plan approved by Suwon Bankruptcy Court on March 20, 2026
Debt-to-equity swap of 22,479 million won at 100 won per share, 6:1 stock consolidation, and issuance of 165 million new shares via third-party allocation
Resolved capital impairment: consolidated equity from -22,525 million won to +23,828 million won
Change in largest shareholder to Haemily Co., Ltd. (48.77%)
Continued operating loss: consolidated operating loss of 1,300 million won in Q1 2026
Recorded net profit of 24,689 million won due to debt forgiveness gain of 26,018 million won
Ongoing litigation regarding delisting (injunction, etc.)
Material uncertainty related to going concern

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