Brand X Co.,Ltd. announced a private placement of series 1 bearer-type non-guaranteed private convertible bonds for a gross proceeds of KRW 20,000,000,000 on January 25, 2024. The transaction will include participation from new investors Timefolio Athleisure New Technology Fund for KRW 7,500,000,000; Korea Investment Capital Timefolio New Technology Business Fund for KRW 3,000,000,000; Time Folio KOSDAQ Venture It's Time-Mezzanine I No. 2 General Private Investment Trust for KRW 3,500,000,000; Time Folio KOSDAQ Venture It's Time-Mezzanine T No.

2 General Private Investment Trust for KRW 1,300,000,000; Timefolio It's Time-Mezzanine G No. 3 General Private Investment Trust for KRW 1,900,000,000; Time Folio KOSDAQ Venture The Special Alternative Investment No. 3 General Private Investment Trust for KRW 800,000,000; Suseong KOSDAQ Venture R8 General Private Investment Trust (Profit and Loss Differential) for KRW 1,000,000,000; C Square Mezzanine Plus General Private Securities Investment Trust No.

23 for KRW 1,000,000,000. The bonds will mature on January 31, 2028. The bonds will be 100% converted into 3,135,287 common shares at a fixed conversion price of KRW 6,379 per share for an equity stake of 9.68%.

The conversion period is from January 31, 2025 to December 31, 2027. The payment date of the transaction is January 31, 2024. The securities issued in the transaction are subject to a lock up period of one year.

The transaction has been approved by the board of directors of the company.