Change of largest shareholder

What happened

Jolse / Change of largest shareholder / (2026.07.28) Change of largest shareholder

Change of Largest Shareholder 1. Change details: Largest shareholder before the change: Barunson E&A Co., Ltd. and 2 others; Shares held: 4,081,494; Ownership (%): 34.86 / Largest shareholder after the change: GP Club Co., Ltd. and 1 other; Shares held: 5,469,007; Ownership (%): 32.70 2. Reason for change: Change of largest shareholder through payment for a third-party-placement 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: Participation in management, enhancement of corporate value, and normalization of management - Method of financing the acquisition: Own funds (KRW) 8,000,000,030; Borrowings (KRW): -; Lender: -; Borrowing period: - to -; Collateral details: - - Plan for appointing/dismissing officers after the acquisition: To be appointed through an extraordinary general shareholders' meeting 4. Change date: 2026-07-28 5. Date the change was confirmed: 2026-07-28 6. Other matters for reference in investment decisions (1) The ownership ratio before the change is based on total shares outstanding of 11,706,586 shares, and the ownership ratio after the change is based on the total shares outstanding of 16,722,260 shares as changed upon completion of payment for the third-party-placement rights offering. (2) The "change date" in Item 4 and "date the change was confirmed" in Item 5 are the date payment for the rights offering was completed. (3) 5,015,674 of the new shares issued through the third-party-placement rights offering will be held in custody for 1 year pursuant to Article 2-2, Paragraph 2 of the Regulations on Issuance and Disclosure of Securities, etc.

Related disclosures: 2026-07-20 Rights offering decision (third-party placement)

[Detailed change information] Name: Barunson E&A Co., Ltd., Relationship: Largest shareholder before the change; Shares before change: 3,502,534; Ownership before change (%): 29.92; Shares after change: 3,502,534; Ownership after change (%): 20.95; Remarks: Largest shareholder before the change Name: Mun Yang-kwon, Relationship: Related party of the largest shareholder before the change; Shares before change: 125,627; Ownership before change (%): 1.07; Shares after change: 125,627; Ownership after change (%): 0.75; Remarks: CEO of the largest shareholder before the change Name: Bae Jeong-hyun, Relationship: Largest shareholder before the change; Shares before change: 453,333; Ownership before change (%): 3.87; Shares after change: 453,333; Ownership after change (%): 2.71; Remarks: Related party of the largest shareholder both before and after the change Name: GP Club Co., Ltd., Relationship: Largest shareholder after the change; Shares before change: -; Ownership before change (%): -; Shares after change: 5,015,674; Ownership after change (%): 29.99; Remarks: Largest shareholder after the change

[Matters relating to the new largest shareholder (where a general corporation)] 1. Basic corporate information Corporate name: GP Club Co., Ltd.; Nationality: Republic of Korea; Address (head office, stated only to the level of town/township/neighborhood): Wonhyo-ro, Yongsan-gu, Seoul; Corporate registration number: 110111-2854358 Main business: Wholesale and retail of cosmetics

Largest shareholder, CEO and chief executive officer status and ownership information: Category: Largest shareholder; Name: Kim Jeong-woong; Shares held: 21,656,185; Ownership (%): 47.91 Category: CEO; Name: Kim Jeong-woong; Shares held: -; Ownership (%): -

Officer career history of the largest shareholder, CEO and chief executive officer: Name: Kim Jeong-woong; Company: GP Club Co., Ltd.; Listed: Unlisted; Delisting date: -; Position: CEO; Joining date: 2006-09-05; Leaving date: -; Remarks: -

History as largest shareholder of a listed company: None

2. Key financial information (Unit: KRW million) Fiscal year: Fiscal year 2025, period ended December Total assets: 269,758 Capital: 4,520 Total liabilities: 16,695 Revenue: 136,311 Total equity: 253,063 Net income (loss): -19,809 External auditor: Hanyoung Accounting Corporation (EY) Whether in business suspension: No Audit opinion: Unqualified (fairly presented) Whether closed down: No

3. Relationship with the listed company in question - Relationship between the listed company and the largest shareholder (corporation): - - Relationship between officers of the listed company and the largest shareholder (corporation): Name: -; Relationship with the largest shareholder (corporation): -

4. Transaction history between the listed company and the largest shareholder (corporation) over the last 3 years (excluding routine transactions) Current year: - Prior year: - Year before that: -