Dong Yang Steel Pipe Co., Ltd. announced a private placement of Series 47 Unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 30,000,000,000 on March 3, 2023. The transaction included participation from Focus Unicorn KOSDAQ Venture General Private Equity Trust No. 2, a fund managed by KB Securities Co., Ltd. for KRW 300,000,000, Focus Champion General Private Equity Trust No.

2 a fund managed KB Securities Co., Ltd. by for KRW 400,000,000, Focus Golden Plus KOSDAQ Venture General Private Equity Trust No. 2, a fund managed KB Securities Co., Ltd. by for KRW 300,000,000, Focus Step-Up KOSDAQ Venture General Private Equity Trust No. 2, fund managed by a fund managed KB Securities Co., Ltd. for KRW 100,000,000, Focus Pacific KOSDAQ Venture General (Professional Investor) Private Equity Investment Trust No.

2, a fund managed by KB Securities Co., Ltd. for KRW 100,000,000, Focus Super Rich General Private Equity Trust No. 7, a fund managed by Mirae Asset Securities Co., Ltd for KRW 300,000,000, Focus LUX-Mezzanine General (Professional Investor) Private Equity Investment Trust No. 1 a fund managed by Mirae Asset Securities Co., Ltd for KRW 100,000,000, Focus Grand Slam General Private Equity Investment Trust No.

2, a fund managed by Mirae Asset Securities Co., Ltd for KRW 400,000,000, NH Absolute Return General Private Equity Trust No. 1 a fund managed by Samsung Securities Co., Ltd for KRW 1,500,000,000, NH Absolute Mezzanine General Private Equity Trust No. 3 a fund managed by Samsung Securities Co., Ltd for KRW 1,500,000,000, GVA Fortress-A General Private Equity Investment Trust a fund managed by Mirae Asset Securities Co., Ltd for KRW 1,000,000,000, GVA The banks 3 general private equity trust (professional investor) a fund managed by KRW 2,000,000,000, GVA The banks 3 general private equity trust (professional investor), a fund managed by KB Securities Co., Ltd for KRW 2,000,000,000, Suseong Multi Mezzanine T1 General Private Equity Trust (Professional Investor), a fund managed by KB Securities Co., Ltd for KRW 1,000,000,000, Tiger KOSDAQ Venture Mezzanine Focus 313 General Private Equity Trust a fund managed by NH Investment & Securities Co., Ltd for KRW 100,000,000., Tiger KOSDAQ Venture Mezzanine Plus 312 General Private Equity Trust fund managed by NH Investment & Securities Co., Ltd for KRW 100,000,000, Tiger Smart Mezzanine 314 General Private Equity Trust fund managed by NH Investment & Securities Co., Ltd for KRW 100,000,000, Tiger Mezzanine Solutions 316 General Private Equity Trust fund managed by NH Investment & Securities Co., Ltd for KRW 100,000,000, Tiger KOSDAQ Venture Beyond Mezzanine 319 General Private Equity Trust fund managed by NH Investment & Securities Co., Ltd for KRW 100,000,000, Atman KOSDAQ Venture General Private Equity Investment Trust No.

3 a fund managed by Korea Investment & Securities Co., Ltd. for KRW 300,000,000, Atman Mezzanine Alpha General Private Equity Investment Trust No. 1 a fund managed by Korea Investment & Securities Co., Ltd. for KRW 700,000,000, Orion Luxury KOSDAQ Venture General Private Equity Trust No. 53 a fund managed by NH Investment & Securities Co., Ltd for KRW 300,000,000, Orion Luxury KOSDAQ Venture General Private Equity Trust No.

71 a fund managed by NH Investment & Securities Co., Ltd for KRW 200,000,000, Orion Luxury KOSDAQ Venture General Private Equity Trust No. 76 a fund managed by NH Investment & Securities Co., Ltd for KRW 500,000,000, IGIS KOSDAQ Venture General Private Equity Investment Trust No. 1 a fund managed by Korea Investment & Securities Co., Ltd for KRW 1,000,000,000 Ace Leading New Technology Fund II KRW 1,000,000,000, Ace Welcome New Technology Fund II KRW 500,000,000, Kiwoom Susung New Technology Fund 1 KRW 1,000,000,000 and IBK Financial Group Synergy Ivy Business Reorganization New Technology Fund KRW 2,000,000,000.

The bonds bear 0% coupon rate and 2.5% maturity rate and will mature on March 7, 2028. The bonds are 100% convertible into 28,763,183 shares at a fixed conversion price of KRW 1,043 from March 3, 2024, to February 7, 2028. The transaction has been approved by the board of directors and is expected to close on March 7, 2023.

The bonds are restricted to a hold period of one year from the date of issuance.