Change of largest shareholder

What happened

Heng Sheng Holding Group / Change of largest shareholder / (2026.07.28) Change of largest shareholder

Change of Largest Shareholder 1. Change details: Largest shareholder before the change: Hui Hung Yuen and 2 others; Shares held: 1,854,667; Ownership (%): 17.31 / Largest shareholder after the change: Hui Mei Nga and 3 others; Shares held: 5,854,667; Ownership (%): 54.65 2. Reason for change: Acquisition of new shares through participation in a rights offering - Whether the change resulted from the acquisition of forfeited shares: No - Whether the transferred shares are subject to a mandatory holding period: No 3. Purpose of acquiring the stake: Management-participation equity investment - Method of financing the acquisition: Own funds (KRW) 12,000,000,000; Borrowings (KRW): -; Lender: -; Borrowing period: - to -; Collateral details: - - Plan for appointing/dismissing officers after the acquisition: - 4. Change date: 2026-07-27 5. Date the change was confirmed: 2026-07-27 6. Other matters for reference in investment decisions - This change of largest shareholder is disclosed because the new largest shareholder became the company's largest shareholder by participating in the third-party-placement rights offering. - Hui Mei Nga made payment in the third-party-placement rights offering on July 27, 2026 and thereby acquired 4,000,000 shares. - The 4,000,000 shares acquired by new largest shareholder Hui Mei Nga through the July 27, 2026 third-party-placement rights offering will be held in custody for 1 year from the expected listing date. - The ownership ratio before the change in Item 1 above is based on total shares outstanding of 53,561,441 shares; the ownership ratio after the change is based on the total shares outstanding of 10,712,288 shares, as changed to reflect completion of payment for the third-party-placement rights offering and a 5-for-1 share consolidation. - The change date in Item 4 above is the date on which the new largest shareholder completed payment for the new shares. - In the [Detailed change information] below, the largest shareholder's ownership ratio before the change is based on total shares outstanding of 53,561,441 shares, and the ownership ratio after the change is based on the total shares outstanding of 10,712,288 shares, as changed to reflect completion of payment for the third-party-placement rights offering and the 5-for-1 share consolidation.

Related disclosures: 2026-06-23 Rights offering decision (third-party placement); 2026-06-24 Rights offering decision (third-party placement); 2026-07-24 Rights offering decision (third-party placement)

[Detailed change information] Name: Hui Hung Yuen, Relationship: Largest shareholder before the change; Shares before change: 1,300,000; Ownership before change (%): 26.63; Shares after change: 1,300,000; Ownership after change (%): 12.14; Remarks: - Name: Hui Man Kit, Relationship: Related party of the largest shareholder before the change; Shares before change: 354,667; Ownership before change (%): 7.27; Shares after change: 354,667; Ownership after change (%): 3.31; Remarks: Lineal ascendant of the largest shareholder before the change Name: Hui Hung Lun, Relationship: Related party of the largest shareholder before the change; Shares before change: 200,000; Ownership before change (%): 4.10; Shares after change: 200,000; Ownership after change (%): 1.87; Remarks: Collateral relative of the largest shareholder before the change Name: Hui Mei Nga, Relationship: Related party of the largest shareholder before the change; Shares before change: -; Ownership before change (%): -; Shares after change: 4,000,000; Ownership after change (%): 37.34; Remarks: Lineal ascendant of the largest shareholder before the change Name: Hui Mei Nga, Relationship: Largest shareholder after the change; Shares before change: -; Ownership before change (%): -; Shares after change: 4,000,000; Ownership after change (%): 37.34; Remarks: - Name: Hui Hung Yuen, Relationship: Related party of the largest shareholder after the change; Shares before change: 1,300,000; Ownership before change (%): 26.63; Shares after change: 1,300,000; Ownership after change (%): 12.14; Remarks: Lineal descendant of the largest shareholder after the change Name: Hui Man Kit, Relationship: Related party of the largest shareholder after the change; Shares before change: 354,667; Ownership before change (%): 7.27; Shares after change: 354,667; Ownership after change (%): 3.31; Remarks: Spouse of the largest shareholder after the change Name: Hui Hung Lun, Relationship: Related party of the largest shareholder after the change; Shares before change: 200,000; Ownership before change (%): 4.10; Shares after change: 200,000; Ownership after change (%): 1.87; Remarks: Lineal descendant of the largest shareholder after the change

[Matters relating to the new largest shareholder (where an individual)] 1. Basic information on the individual: Name: Hui Mei Nga; Nationality: Hong Kong

Officer career history of the individual: Name: Hui Mei Nga; Company: Hengsheng Group Co., Ltd.; Listed: Listed (KOSDAQ); Delisting date: -; Position: Director; Joining date: 1995-02-01; Leaving date: 2020-04-24; Remarks: - Name: Hui Mei Nga; Company: Jinjiang Hengsheng Toys Co., Ltd.; Listed: Unlisted; Delisting date: -; Position: Vice Chairman; Joining date: 2002-05-06; Leaving date: -; Remarks: - Name: Hui Mei Nga; Company: Hengsheng Universal Trading Co., Ltd.; Listed: Unlisted; Delisting date: -; Position: Chairman; Joining date: 2014-06-05; Leaving date: -; Remarks: - Name: Hui Mei Nga; Company: Quanzhou Jazzit Apparel Co., Ltd.; Listed: Unlisted; Delisting date: -; Position: Vice Chairman; Joining date: 2016-04-18; Leaving date: -; Remarks: -

History as largest shareholder of a listed company: None

2. Relationship between the listed company in question and the new largest shareholder (individual): - 3. Transaction history between the listed company and the largest shareholder (individual) over the last 3 years (excluding routine transactions) Current year: - Prior year: - Year before that: -