[Amended] Material event report (merger)

What happened

Eco Volt Co., Ltd. / Material Event Report (Merger Decision) / 6.0

Amendment Report, July 24, 2026 1. Disclosure document being amended: Material event report (merger decision) 2. Original filing date: April 13, 2026 3. Amendments (clerical correction of filing date from April 14 to April 13, 2026; schedule changes identical in substance to those in Rftech's own amendment of the same date, see below; and new/expanded disclosure on the merger decision-making process)

Item 10. Merger schedule (schedule change) - same dates as Rftech's mirrored filing: - Objection-notice period: Before Aug 4~Aug 18, 2026 / After Aug 6~Aug 28, 2026 - Shareholders' meeting: Before Aug 19, 2026 / After Aug 31, 2026 - Appraisal-rights period: Before Aug 19~Sep 9, 2026 / After Aug 31~Sep 21, 2026 - Scheduled trading-halt period (Eco Volt specific): Before Sep 18~Oct 12, 2026 / After Oct 1~Oct 28, 2026 - Creditor-objection period: Before Aug 20~Sep 21, 2026 / After Sep 1~Oct 2, 2026 - Merger effective date: Before Sep 22, 2026 / After Oct 3, 2026 - Merger registration date: Before Sep 30, 2026 / After Oct 16, 2026 - New-share listing date: Before Oct 13, 2026 / After Oct 29, 2026

Item 13. Appraisal rights - procedure/payment (schedule change): dissent-notice deadline moved from Aug 14 to Aug 26, 2026 (securities firms relay to Korea Securities Depository by Aug 27 instead of Aug 17; Depository notifies company by Aug 28 instead of Aug 18); appraisal request deadline for beneficial shareholders moved from Sep 7 to Sep 17, 2026; receiving locations: Rftech (surviving) 60 Jugyangdae-ro 1763beon-gil, Wonsam-myeon, Cheoin-gu, Yongin-si; Eco Volt (merged-out) 433-31 Sandong-ro, Eumbong-myeon, Asan-si; payment date moved from Sep 21, 2026 to Oct 2, 2026 for both companies (subject to change).

Item 17. Future corporate-restructuring plans - self-amended (voluntary correction): the "before" version stated no confirmed restructuring plans beyond noting planned AI-module/5G Advanced/6G R&D investment, with a new-business spending table showing 2026 estimated 5G revenue 119 (KRW 100 million), R&D/facility/total spend 27/109/136, ratio 114.21%; 2027 revenue 228, spend 29/48/77, ratio 33.81%; 2028-2030 figures matching the table in Rftech's own filing (over the sequence 503/1,008/1,517 revenue and corresponding spend); and an R&D headcount table (antenna 13→16,17,17,20,20; filter 17,17,17,17,20,20; DPT 3→5,6,6,10,10; total 33,38,40,40,50,50). The "after" version restates the same restructuring narrative (automotive-parts downsizing, Yongin-to-Asan relocation, Yongin-plant and SF Innotek Vina sale, the April 15, 2026 RF Bio share sale of 910,747 of 1,890,625 shares to Access Bio, semiconductor-equipment divestiture) with the new-business spending table matching Rftech's filing exactly (2026: 119/27/131/158/114.21%; 2027: 228/29/58/87/33.81%; 2028: 503/29/70/99/17.31%; 2029: 1,008/35/78/113/9.92%; 2030: 1,517/35/68/103/6.07%) and headcount table (antenna 13→16,17,17,22,22; filter 17,17,17,17,20,20; DPT 3→5,6,6,8,8; total 33,38,40,40,50,50).

Item 18. Other matters relevant to investment judgment - adds a new section "(t) Decision-making process and content regarding this merger" (summarized below) describing the Ministry of Justice's February 26, 2026 "Guidelines on Directors' Conduct in Corporate Reorganizations," issued in connection with the Commercial Act Article 382-3 duty-of-loyalty amendment effective July 22, 2025, and both companies' reasoning for not forming a special committee or engaging outside experts before their April 13, 2026 merger resolution.

Material Event Report / Korea Exchange filing requirement To the Financial Services Commission / Korea Exchange, July 24, 2026 Company name: Eco Volt Co., Ltd. | CEO: Han Jae-gwan Head office: 433-31 Sandong-ro, Eumbong-myeon, Asan-si, Chungcheongnam-do; Phone/Fax: 041-539-2500; Website: http://ecovoltdynamics.co.kr Preparer: Managing Director Jeong Gi-do, Phone 041-539-2500

Merger Decision (unchanged substantive terms, mirroring Rftech's filing) 1. Merger method: Rftech absorbs Eco Volt; surviving company Rftech; merged-out company Eco Volt. 4. Merger ratio: 1 : 0.2027268 (Rftech : Eco Volt). 7. Merger-related new shares: common shares 4,111,636. 8. Merger counterparty (Rftech) financials as stated in this filing (KRW): total assets 407,430,424,081; capital stock 16,044,629,500; total liabilities 221,393,790,005; revenue 266,007,649,510; total equity 186,036,634,076; net loss 30,470,680,477; external auditor Samil PricewaterhouseCoopers; audit opinion Unqualified; main business: broadcasting and wireless communication equipment manufacturing; relationship: affiliate. 10. Merger schedule (as amended): agreement date April 13, 2026; shareholder record date June 30, 2026; objection-notice period Aug 6~Aug 28, 2026; shareholders' meeting Aug 31, 2026; appraisal-rights period Aug 31~Sep 21, 2026; trading-halt period Oct 1~Oct 28, 2026; creditor-objection period Sep 1~Oct 2, 2026; merger effective date Oct 3, 2026; merger registration date Oct 16, 2026; new-share listing date Oct 29, 2026. 13. Appraisal rights: the companies' proposed purchase prices for a negotiated buyback are Rftech (surviving company) KRW 9,325 and Eco Volt (merged-out company) KRW 1,968 per share; same restrictions and termination trigger (aggregate appraisal-rights purchase price for both companies exceeding KRW 15,000,000,000).

Eco Volt expected appraisal price calculation (reference date April 12, 2026): 2-month volume-weighted average closing price (2026.02.13-2026.04.12) KRW 806; 1-month (2026.03.13-2026.04.12) KRW 788; 1-week (2026.04.06-2026.04.12) KRW 766; reference purchase price [(1+2+3)/3] KRW 787; reference price after stock split (/2) KRW 393.5; final purchase price after no-payment capital reduction (x5) KRW 1,968.

Eco Volt daily price data (date, closing price, volume, closing price x volume): 2026/04/10 KRW 766, 62,172 sh, KRW 47,623,752; 2026/04/09 KRW 766, 53,162, KRW 40,722,092; 2026/04/08 KRW 765, 345,624, KRW 264,402,360; 2026/04/07 KRW 764, 87,597, KRW 66,924,108; 2026/04/06 KRW 787, 33,953, KRW 26,721,011; 2026/04/03 KRW 788, 75,987, KRW 59,877,756; 2026/04/02 KRW 791, 48,966, KRW 38,732,106; 2026/04/01 KRW 800, 49,500, KRW 39,600,000; 2026/03/31 KRW 798, 54,435, KRW 43,439,130; 2026/03/30 KRW 802, 61,864, KRW 49,614,928; 2026/03/27 KRW 802, 178,749, KRW 143,356,698; 2026/03/26 KRW 783, 51,873, KRW 40,616,559; 2026/03/25 KRW 782, 28,538, KRW 22,316,716; 2026/03/24 KRW 784, 41,995, KRW 32,924,080; 2026/03/23 KRW 777, 38,757, KRW 30,114,189; 2026/03/20 KRW 798, 52,546, KRW 41,931,708; 2026/03/19 KRW 790, 59,029, KRW 46,632,910; 2026/03/18 KRW 795, 128,298, KRW 101,996,910; 2026/03/17 KRW 807, 135,458, KRW 109,314,606; 2026/03/16 KRW 806, 239,616, KRW 193,130,496; 2026/03/13 KRW 797, 40,495, KRW 32,274,515; 2026/03/12 KRW 804, 59,863, KRW 48,129,852; 2026/03/11 KRW 783, 67,735, KRW 53,036,505; 2026/03/10 KRW 773, 82,681, KRW 63,912,413; 2026/03/09 KRW 749, 101,507, KRW 76,028,743; 2026/03/06 KRW 784, 73,505, KRW 57,627,920; 2026/03/05 KRW 785, 179,920, KRW 141,237,200; 2026/03/04 KRW 785, 388,900, KRW 305,286,500; 2026/03/03 KRW 808, 246,971, KRW 199,552,568; 2026/02/27 KRW 824, 280,577, KRW 231,195,448; 2026/02/26 KRW 833, 188,703, KRW 157,189,599; 2026/02/25 KRW 846, 294,038, KRW 248,756,148; 2026/02/24 KRW 844, 461,096, KRW 389,165,024; 2026/02/23 KRW 850, 300,470, KRW 255,399,500; 2026/02/20 KRW 815, 222,167, KRW 181,066,105; 2026/02/19 KRW 831, 717,595, KRW 596,321,445; 2026/02/13 KRW 792, 1,293,295, KRW 1,024,289,640. (Source: Korea Exchange, http://www.krx.co.kr) Rftech's own appraisal price is set out in Rftech's material event report.

Capital restructuring undertaken by Eco Volt ahead of the merger (all resolved at the February 2, 2026 board meeting): - No-payment capital reduction: record date April 20, 2026; shares outstanding before 63,415,904, after 50,732,723; trading halt April 17, 2026~May 6, 2026. - Stock split: 1 common share of KRW 1,000 par value split into 2 common shares of KRW 500 par value; shares outstanding before split 50,732,723, after 101,465,446; trading halt May 12, 2026~June 15, 2026. - Further no-payment capital reduction (reverse split): 5 common shares of KRW 500 par value consolidated, without payment, into 1 common share of the same par value, record date May 26, 2026; shares outstanding before 101,465,446, after 20,293,089; trading halt May 12, 2026~June 15, 2026.

Decision-making process and special-committee review (summarized) Neither Rftech's nor Eco Volt's board formed a special committee or engaged outside legal/financial experts before resolving to merge on April 13, 2026. At board meetings held April 8, 2026, both companies voted against establishing a special committee and against engaging outside experts, reasoning that: the merger ratio would in any case be calculated under Capital Markets Act Enforcement Decree Article 176-5(1)(1); the combined common largest shareholder (Osung Advanced Materials, holding 30.46% of Rftech and 29.89% of Eco Volt) meant the transaction was not a one-sided transfer of value; and delay risked losing the roughly KRW 100 billion in liquidity the merger would deliver to Rftech at a time when Rftech's revenue and profitability were under pressure from customer concentration and Eco Volt faced falling sales and rising losses in its automotive-lighting business.

After the original board resolution, and in light of the Ministry of Justice's February 26, 2026 "Guidelines on Directors' Conduct in Corporate Reorganizations" (issued in connection with the Commercial Act Article 382-3 duty-of-loyalty amendment effective July 22, 2025) and the structural conflict-of-interest concern inherent in an affiliate-to-affiliate merger, each company's board retroactively resolved, on May 28, 2026, to establish a special committee. Rftech's special committee comprised chairman Choi Young-cheol (independent director, accountant, b.1976.06.06, Samduk Accounting Corporation, formerly a partner at Hanyoung Accounting Corporation's SaT division 2007-2023) and members Lee Gi-ho (CEO/accountant, KJ&Partners, b.1968.02.06; partner at Hanyoung Accounting Corporation's financial advisory division 1992-2018, founded KJ&Partners in 2002 and has served as its CEO since), Lee Yu-ri (accountant, Sangjiwon Accounting Corporation, b.1985.01.10; Samsung Accounting Corporation tax-advisory division 2011-2014, partner at Sangjiwon from 2015) and Kim Bong-jun (attorney, Minju Law Firm, b.1974.06.26). Eco Volt's special committee comprised chairman Oh Chang-jin (independent director, formerly head of the Financial Supervisory Service's legal office, b.1960.06) and members Kim Ji-eung (professor, Yonsei University, b.1983.01, PhD Yale University Computer Science), Yoon Gi-eop (accountant, Yegwang Accounting Corporation, b.1987.01) and Jo Jang-gon (attorney, Yeoyul Law Firm, b.1976.12).

Each special committee met three times: Rftech's committee on May 29, June 11 and June 18, 2026; Eco Volt's committee on May 29 (15:00-16:30), June 15 (14:00-17:00) and June 19, 2026 (14:00-16:00). Each committee engaged independent outside financial and legal advisers: Rftech retained Ichon Accounting Corporation (financial, engaged June 9-19, 2026, 3 staff, 216 hours, fee KRW 40 million) and Sejong Law Firm (legal, engaged June 9-19, 2026, 5 staff, 30 hours, fee KRW 20 million); Eco Volt retained Jeongdong Accounting Corporation (financial, engaged June 8-19, 2026, 3 staff, 208 hours, fee KRW 25 million) and Baker McKenzie & KL Partners (legal, engaged June 4-19, 2026, 2 staff, 30 hours, fee KRW 20 million).

Ichon Accounting Corporation's intrinsic-value appraisal (valuation date December 31, 2025; WACC 11.4% Rftech / 11.6% Eco Volt; risk-free rate 3.4%; market risk premium 8.0%; size premium 4.0%; cost of debt 9.8% Rftech / 8.5% Eco Volt; tax rate 24.2% Rftech / 22% Eco Volt) found: Rftech intrinsic value per share KRW 4,922-5,692 (asset value KRW 5,082; earnings value KRW 4,815-6,098); Eco Volt intrinsic value KRW 2,223-2,313 (asset value KRW 2,843; earnings value KRW 1,810-1,959); implied merger ratio range 1:0.3906541-1:0.4699142, within which the market-price-based ratio of 1:0.4053487 (based on Rftech KRW 1,907/Eco Volt KRW 773 reference prices) falls, confirming its fairness.

Jeongdong Accounting Corporation's appraisal (same valuation date and macro assumptions; WACC 11.5%/11.6%) found: Rftech intrinsic value KRW 4,626-5,423 (asset value KRW 5,082; earnings value KRW 4,322-5,650); Eco Volt intrinsic value KRW 2,168-2,263 (asset value KRW 2,843; earnings value KRW 1,718-1,876); implied ratio range 1:0.4002849-1:0.4892949, again containing the market-price ratio of 1:0.4053487. (Jeongdong's results-summary narrative restates Eco Volt's intrinsic value as KRW 2,171-2,264, with earnings value KRW 1,722-1,877, using the same asset value and WACC figures of 11.49%/11.70%; Rftech's own merger-value calculation for the same April 12, 2026 reference date used a one-month weighted-average closing price of KRW 1,819, a one-week price of KRW 1,892, a most-recent-day closing price of KRW 2,010, a reference share price of KRW 1,907, and a merger value after par-value consolidation of KRW 9,535; Eco Volt's own reference price of KRW 766 became KRW 1,932.5 after the no-payment capital reduction, rounded to the final merger value of KRW 1,933.)

Merger ratio sensitivity by potential board-resolution date: 2026-04-13: Rftech close KRW 2,010 / Eco Volt close KRW 766, Rftech merger value KRW 9,535 / Eco Volt KRW 1,933, ratio 0.202726796, new shares 4,111,636, Osung's allotted new shares 1,229,612, Osung's post-merger stake 30.29%. 2026-04-14: Rftech KRW 2,610 / Eco Volt KRW 764, merger value KRW 12,105/KRW 1,930, ratio 0.159438249, new shares 3,233,673, Osung allotted 967,051, stake 30.31%. 2026-04-15: Rftech KRW 2,545 / Eco Volt KRW 827, merger value KRW 12,280/KRW 2,040, ratio 0.16612378, new shares 3,369,266, Osung allotted 1,007,601, stake 30.31%.

Rftech's historical revenue by business segment (KRW million): wireless-communication application devices - TA: 2019 120,892; 2020 140,460; 2021 135,566; 2022 117,418; 2023 95,818; 2024 91,292; 2025 41,375; 2026 Q1 11,168. DLC: 2019 66,366; 2020 71,982; 2021 76,084; 2022 78,983; 2023 78,848; 2024 92,502; 2025 92,490; 2026 Q1 22,627. ANT/STY: 2019 34,041; 2020 13,369; 2021 67,608; 2022 57,541; 2023 37,707; 2024 49,781; 2025 37,004; 2026 Q1 4,918. 5G antenna module: 2019 35,417; 2020 14,474; 2021 16,886; 2022 3,416; 2023 2,792; 2024 1,387; 2025 3,011; 2026 Q1 1,839. Accessories/other: 2019 22,566; 2020 10,728; 2021 18,502; 2022 90,152; 2023 74,068; 2024 42,500; 2025 30,193; 2026 Q1 7,595. Bio (HA filler etc.): 2019 5,210; 2020 6,845; 2021 11,178; 2022 13,045; 2023 19,256; 2024 20,431; 2025 18,910; 2026 Q1 4,859. Equipment (coater/VCD etc.): 2023 5,889; 2024 60,429; 2025 43,024; 2026 Q1 14,476 (none 2019-2022). Total: 2019 284,492; 2020 257,858; 2021 325,824; 2022 360,554; 2023 314,378; 2024 358,323; 2025 266,007; 2026 Q1 67,482.

Rftech's 2026 facility/technology-infrastructure investment (about KRW 3.9 billion) breaks down as 5G RF antenna equipment KRW 3,529 million (including an anechoic chamber at KRW 3,000 million, execution expected across 2026-27) and RF filter equipment KRW 333 million, for mass-production entry and customer support; 2027-2030 facility investment is roughly KRW 0.5-1.0 billion per year for measurement/test-infrastructure upgrades. Citing the Ericsson Mobility Report, the filing notes that 5G's share of mobile data traffic is expected to rise from 34% at end-2024 to 43% at end-2025 and to 83% by 2031, underpinning Rftech's planned 5G Advanced/6G RF-module investment.

Both special committees concluded, after reviewing the above valuations and legal opinions (including the fairness-of-merger-ratio case law cited in the outside legal opinions: Supreme Court decisions 2007Da64136 (Jan. 10, 2008), 2005Da22701 and 2005Da22718 (Apr. 23, 2009), 2015Da70044 (Sep. 12, 2017), 2008Ma264 (Oct. 13, 2011); Seoul Central District Court 2015Kahap80582 (Jul. 1, 2015) and 2016Gahap510827 (Oct. 19, 2017), both concerning the Samsung C&T/Cheil Industries merger), that the merger's purpose was legitimate, the merger ratio was fair, and the process complied with the Commercial Act and Capital Markets Act. Rftech's board approved the special committee's findings on June 24, 2026; Eco Volt's board did likewise on June 23-24, 2026 (special committee report June 23, board decision June 24, 2026). (condensed translation)