Rights offering (paid-in capital increase) decision (subsidiary)

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Shin Steel / Rights offering decision (subsidiary's material management matter) / (2026.07.24) Rights offering decision (subsidiary's material management matter)

Rights offering decision (subsidiary's material management matter) Report on material management matters of subsidiary SHIN STEEL MEXICO S.A. DE C.V.

1. Type and number of new shares Common shares (shares): 2,087,700 Class shares (shares): -

2. Par value per share (KRW): 8,506

3. Total shares issued before the capital increase Common shares (shares): 1,684,181 Class shares (shares): -

4. Purpose of capital raising Facility funds (KRW): - Business acquisition funds (KRW): - Working capital (KRW): - Debt repayment funds (KRW): 17,770,800,000 Funds to acquire securities of another company (KRW): - Other funds (KRW): -

5. Capital increase method: Rights offering to existing shareholders [For a rights offering to existing shareholders]

6. New share issue price Confirmed issue price: Common shares (KRW): 8,506; Class shares (KRW): - Expected issue price: Common shares (KRW): -, confirmation date -; Class shares (KRW): -, confirmation date -

7. Method of determining the issue price: Par value 8. New share allotment record date: 2026-07-24 9. Number of new shares allotted per share (shares): 1.2395936 10. Preferential allotment ratio for employee stock ownership association members (%): -

11. Expected subscription date Employee stock ownership association: Start date -; End date - Existing shareholders: Start date -; End date -

12. Payment date: 2026-07-24 13. Plan for handling forfeited shares: Full acquisition by the controlling company 14. Dividend record start date for new shares: 2026-01-01 15. Expected date of delivery of new share certificates: - 16. Lead underwriter (if not a direct offering): - 17. Whether subscription rights are transferable: Not applicable 18. Board resolution date (decision date): 2026-07-24 Outside director attendance: Attended (persons) -; Did not attend (persons) - Auditor (audit committee members who are not outside directors) attendance: -

19. Whether subject to securities registration statement filing: No 20. Reason for exemption from filing: As this is a rights offering by an overseas unlisted subsidiary to existing shareholders, it does not constitute a public offering and is not subject to securities registration statement filing. 21. Whether subject to Fair Trade Commission reporting: No

22. Other matters for reference in investment decisions - This is a debt-to-equity conversion of a USD 12,000,000 loan that Shin Steel Co., Ltd. had extended to the issuing company. - The above "1. Type and number of new shares - number of common shares" is the number of shares obtained by converting the debt-to-equity conversion amount of USD 12,000,000 at the Mexican Official Gazette (DOF) exchange rate of July 22 (the day before the issuing company's shareholders' meeting) (MXN 17.3975 per USD 1), then dividing by the par value per share of MXN 100. - The above "2. Par value per share" is MXN 100 locally, stated here applying the Seoul Money Brokerage Services exchange rate (KRW 85.06 per peso) as of the issuing company's local shareholders' meeting date (July 23, 2026). - The above "4. Purpose of capital raising - debt repayment funds" is for the purpose of improving the subsidiary's capital structure by converting into equity the loan that Shin Steel Co., Ltd. had extended to the issuing company, stated applying the Seoul Money Brokerage Services exchange rate (KRW 1,480.90 per USD 1) as of the issuing company's local Mexican shareholders' meeting date (July 23, 2026). - The above "8. New share allotment record date," "9. Payment date," and "18. Board resolution date (decision date)" are stated as July 24, 2026, the corresponding Korean calendar date, because the issuing company's local Mexican shareholders' meeting resolution date of July 23, 2026 differs due to the time difference between Korea and Mexico. - The "subsidiary's total assets" under "Matters relating to the subsidiary" below is based on the issuing company's separate financial statements as of the end of 2025, and the "controlling company's consolidated total assets" is based on Shin Steel Co., Ltd.'s consolidated financial statements as of the end of 2025.

※ Related disclosures: 2026-07-23 Decision to acquire shares and equity securities of another company

[Matters relating to the subsidiary] Subsidiary name: SHIN STEEL MEXICO S.A. DE C.V. English name: SHIN STEEL MEXICO S.A. DE C.V. Representative: Lee Sang-jun Main business: Steel coil center (steel product manufacturing and distribution) Whether a major subsidiary: Applicable Subsidiary's total assets (KRW): 31,658,127,413 Controlling company's consolidated total assets (KRW): 200,339,797,835 Ratio to controlling company's consolidated total assets (%): 15.80