Decision to redeem own exchangeable bonds early

What happened

Chokwang Paint Co., Ltd. / Decision to Redeem Own Exchangeable Bonds Before Maturity / (2026.07.27)

1. Type of bond: series 5, unregistered, unsecured, privately placed exchangeable bonds 2. Bond issue date: 2024-01-26 3. Bond issue method: private placement 4. Bond maturity date: 2029-01-26 5. Face (electronically registered) amount of the bonds (KRW): 10,000,000,000 6. Face (electronically registered) amount to be acquired (KRW): 2,100,000,000 7. Acquisition decision date: 2026-07-27

8. Acquisition amount Amount (KRW): 2,100,000,000 Basis: the bond acquisition amount reflects a 100.00% early-redemption rate; no separate interest is paid. Expected payment date: 2026-07-27 Source of acquisition funds: own capital

9. Acquisition method: over-the-counter purchase 10. Reason for early acquisition before maturity: acquisition following exercise of a put option 11. Future handling plan: the bonds will be retired (electronic registration cancelled) after acquisition

12. Matters concerning exchange Exchange ratio: 100% Exchange price as of the report date (KRW/share): 6,840 Shares subject to exchange: Chokwang Paint Co., Ltd. common shares, 307,017 shares, 2.40% of total shares outstanding Exchange request period: 2024-02-26 to 2029-01-19

13. Face (electronically registered) balance remaining after acquisition (KRW): 0 14. Fair Trade Commission filing required: not applicable

15. Other matters of reference for investment decisions 1. The "acquisition amount" above is the amount to be paid as consideration for acquiring the bonds, representing the early-redemption amount under the put-option exercise. 2. Shares held in trust at the Korea Securities Depository that are subject to exchange will be returned to the Company upon this acquisition.

[Matters concerning the sellers] Korea Investment & Securities Co., Ltd.: no special relationship with the Company or its largest shareholder; selected considering the investor's funding capacity and timing for the Company's business financing needs; face amount of bonds sold: KRW 2,000,000,000. NH Investment & Securities Co., Ltd. (acting as trustee for Fund 3): no special relationship with the Company or its largest shareholder; selected on the same basis; face amount of bonds sold: KRW 100,000,000.