CORESTEMCHEMON Inc. announced a private placement of series 2 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 21,500,000,000 and series 3 unsecured privately placed exchangeable bond with bearer interest for a gross proceeds of KRW 10,811,450,000 on January 17, 2023. The transaction will include participation from Kiwoom Securities Co., Ltd., Investment Arm, JB Woori Capital Co., Ltd, returning investors, Hanyang Securities Co. Ltd., Asset Management Arm, Samsung Securities Co.

Ltd., Investment Arm, Korea Investment & Securities Co., Ltd., Investment Arm, Mirae Asset Daewoo Co., Ltd., Investment Arm, NH Investment & Securities Co., Ltd., Investment Arm and KB Securities Co., Ltd., Investment Arm. The zero coupon bonds will have a yield to maturity rate of 1% maturing on January 19, 2027. The series 2 bonds will be fully convertible into 2,423,900 common shares at an issue conversion price of KRW 8,870 per share between the period starting from February 19, 2023 and ending on December 19, 2026.

The bonds have a lock-up period of one year from the date of issuance. The expected date of payment for series 2 bonds is January 19, 2023 and for series 3 bonds is January 26, 2023. The transaction has been approved by board of directors of the company.