Decision to Issue KRW 20 Billion Convertible Bonds, Potential Dilution of Up to 51.58% Including Existing CBs

Plutus Investment (current price 391 won, market cap approx. 34.4 billion won) decided to issue 24th series unregistered interest-bearing unguaranteed private convertible bonds (CB) worth 20 billion won (conversion price 500 won, coupon 4%, yield to maturity 6%, maturity May 29, 2029)
New shares issuable: 40 million shares, equivalent to 29.79% of outstanding shares (94,250,042). Including existing outstanding CBs (17th and 18th series), total convertible shares amount to 48.62 million, representing 51.58% dilution
Payment date: May 29, 2026 (same as subscription date). Funds are for operating expenses (personnel, new investments, general expenses)
Investor: Gwangmu Co., Ltd. (assets 231.4 billion won in 2025, net loss 29.1 billion won). Call option included: right to demand sale of 50% of principal at face value from 1 year after issuance for 1 year (priority over put option)
Put option granted: exercisable from 1 year after issuance every 3 months; redemption rates: 102.05% to 105.93%

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