Issuance of 35B Won CB (Conversion Price 9,920 Won, 7.8% Dilution, Call Option Included)

Decision to issue 35 billion won in 10th series unregistered non-interest private convertible bonds (0% coupon and maturity interest)
Conversion price of 9,920 won (5.5% premium to current price of 9,400 won), resulting in 3,528,225 new shares (7.80% of total shares)
Fund utilization: facility investment 21 billion, operating funds 4 billion, debt repayment 10 billion (trade finance 6 billion, facility loan 4 billion)
Maturity date: May 29, 2031; conversion period: May 29, 2027 to April 29, 2031
Put option: early redemption available quarterly from 24 months after issuance (yield 0%)
Call option: issuer or third party may purchase up to 70% of bonds during months 12-23 after issuance at a 3% annual premium
Conversion price adjustment (refixing): every 7 months based on market price decline, floor at 7,936 won (80% of initial price)
Total potential dilution including existing 9th series CB balance of 17.34 billion won (conversion price 5,594 won) is 15.88%
Target subscribers: 40 funds (trustees include KB Securities, NH Investment & Securities, Samsung Securities, etc.)

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