PNIcompany.Co.,Ltd. announced a private placement of 420,174 redeemable convertible preferred shares at the price of KRW 4,760 per share for gross proceeds of KRW 2,000,028,240 on May 4, 2022. The transaction will include participation from Genie IPO General Private Equity Trust No. 1 for 105,043 shares, Genie KOSDAQ Venture General Private Equity Trust No.

1 for 126,051 shares, Rich Pre-IPO General Private Equity Investment Trust No. 2 for 52,522 shares, Mondo Investment Co., Ltd. for 21,009 shares, Ione Investment Discretionary Co., Ltd. for 10,505 shares, Good Morning Investment Immigration Co., Ltd. for 10,505 shares, Sonamoo Investment Co., Ltd. for 10,505 shares, Wee Local Enterprise Incubation Fund No. 1 for 84,034 shares.

The company will increase capital through third party allocation. The redeemable convertible preferred shares will be converted into 420,174 shares during the conversion period of May 14, 2022 till May 13, 2032. The shares will have repayment on May 13, 2025.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on May 12, 2022.