Change of largest shareholder

What happened

Change of Largest Shareholder

1. Details of change Largest shareholder before change: Kim Sang-geun and 3 others (Kim Hyun-cheol, Lee Hong-min, Kim Hyung-gyu) Shares held (shares): 1,947,092 Ownership ratio (%): 16.45 Largest shareholder after change: Rayno Korea Co., Ltd. and 3 others (Kim Hyun-cheol, Lee Hong-min, Kim Hyung-gyu) Shares held (shares): 1,947,092 Ownership ratio (%): 16.45

2. Reason for change: Following execution of a share transfer agreement between former largest shareholder Kim Sang-geun and Rayno Korea Co., Ltd., all shares held by the former largest shareholder were transferred, changing the largest shareholder. - Change due to acquisition of forfeited shares: No - Mandatory holding period for transferred shares: No

3. Purpose of equity acquisition: Securing management control and enhancing stable corporate value - Method of financing acquisition: Own funds (KRW) -; Borrowed funds (KRW) 2,600,000,000; Lender: Rayno Sector 1; Borrowing period: 2026-07-31 to 2027-07-31; Collateral details: - - Plan to appoint/dismiss officers after acquisition: Not applicable

4. Date of change: 2026-08-05 5. Date of confirmation of change: 2026-08-05

6. Other matters for reference in investment judgment - The above date of change is the date the stock purchase agreement was executed. - The ownership ratios (%) stated in "1. Details of change" and in "Detailed change details" below are calculated based on 11,836,255 total shares issued. ※ Related disclosures: 2026-08-03 Execution of Stock Transfer Agreement Involving Change of Largest Shareholder

[Detailed change details] Rayno Korea Co., Ltd. / Largest shareholder after change / Before: 0 shares, 0.00% / After: 1,752,362 shares, 14.81% / Note: - Kim Sang-geun / Largest shareholder before change / Before: 1,752,362 shares, 14.81% / After: 0 shares, 0.00% / Note: - Kim Hyun-cheol / Specially related person of largest shareholder before change / Before: 162,767 shares, 1.37% / After: 162,767 shares, 1.37% / Note: Specially related person after change (relative of Kim Sang-geun) Lee Hong-min / Specially related person of largest shareholder before change / Before: 27,963 shares, 0.24% / After: 27,963 shares, 0.24% / Note: Specially related person after change (Sangbo executive) Kim Hyung-gyu / Specially related person of largest shareholder before change / Before: 4,000 shares, 0.03% / After: 4,000 shares, 0.03% / Note: Specially related person after change (Sangbo executive)

[Matters concerning the largest shareholder after change (nominal/shell company)] 1. Basic corporate information Corporate name: Rayno Korea; Nationality: Republic of Korea Address (head office, down to town/township level): Yangchon-eup, Gimpo-si, Gyeonggi-do Corporate registration number: 124411-0076291 Main business: Sale of automobile-related goods - Largest shareholder/CEO/representative executive officer status and ownership: Largest shareholder: Rayno WindowFilm Inc., Shares held 100,000, Ownership ratio 98.42% CEO: Kim Hyun-cheol, Shares held 1,600, Ownership ratio 1.58% - Major shareholders (10% or more): None - Officer career history: Kim Hyun-cheol, Rayno Korea (unlisted), CEO, joined 2006-02-14, no departure date recorded - Listed-company largest-shareholder history of the above persons: None recorded 2. Key financial information (unit: KRW million), fiscal year 2025 (December year-end) Total assets: 4,178; Capital stock: 508; Total liabilities: 2,114; Revenue: -; Total equity: 2,064; Net income/loss: -603 External auditor: Jiin Accounting Corporation; In business suspension: No; Audit opinion: Unqualified; Business closure: No 3. Relationship with the listed company - Kim Hyun-cheol, CEO of Rayno Korea, is a specially related person of Sangbo, and Rayno Korea remains a specially related person even after becoming the largest shareholder. - Relationship between officers of the listed company and the largest shareholder (corporation): CEO Kim Hyun-cheol, specially related person; Lee Hong-min (other), specially related person (Sangbo executive); Kim Hyung-gyu (other), specially related person (Sangbo executive) 4. Transaction history with the largest shareholder (corporation) over the last 3 years (excluding routine transactions): Current year -; prior year -; year before that -