Enchem Co., Ltd. announced a private placement to issue Series 12 Unsecured privately placed convertible bonds with bearer interest for the gross proceeds of KRW 110,000,000,000 on May 17, 2023. The transaction will include participation from new investor NH Woori Newdeal Growth Alpha Private Equity Fund 1 Co., Ltd for KRW 30,000,000,000, Green ESG Growth Private Equity Fund 1 Co., Ltd. for KRW 30,000,000,000, Paratus New Normal CB Private Equity Fund Co., Ltd. for KRW 20,000,000,000, KDBC Joint Investment Company parent investment joint venture for KRW 20,000,000,000 and Synaptic Future Growth Private Equity Fund 1 Co., Ltd. for KRW 10,000,000,000. The subscription date is May 19,2023.The transaction has been approved by the board of directors and is expected to close on June 2, 2023.

The bonds are 100% convertible into 1,616,505 common shares at a fixed conversion price of KRW 68,048 from June 6, 2024 to May 2, 2028. The bonds have zero coupon rate, 5% maturity rate and matures on June 6, 2028. The securities are restricted to a hold period of one year.