Decision to redeem own exchangeable bonds early

What happened

KEC Holdings / Decision to Acquire Own Exchangeable Bonds Prior to Maturity / (2026.08.18)

Decision to Acquire Own Exchangeable Bonds Prior to Maturity

1. Type of bonds Series: 3 Type: Unregistered (bearer-form), unsecured, privately placed exchangeable bonds

2. Bond issuance date: 2026-02-13

3. Bond issuance method: Private placement

4. Bond maturity date: 2031-02-13

5. Total face (electronically registered) amount of bonds (KRW): 2,198,647,754

6. Face (electronically registered) amount of bonds to be acquired (KRW): 600,000,000

7. Acquisition decision date: 2026-08-18

8. Acquisition amount Amount (KRW): 600,000,000 Basis of calculation: Amount reflecting an early-redemption rate of 100.00%; no separate interest is paid Payment (scheduled) date: 2026-08-18 Source of acquisition funds: Own funds

9. Acquisition method: Over-the-counter purchase

10. Reason for acquisition prior to maturity: By agreement with the bondholder, to acquire these exchangeable bonds prior to maturity and thereby terminate the related rights and obligations

11. Future treatment plan: After acquiring these bonds, the Company plans to retire them in full (registration cancellation)

12. Matters concerning exchange Exchange ratio (%): 100 Exchange price as of the reporting date (KRW/share): 3,730 Type of shares subject to exchange: KEC Holdings Co., Ltd. registered common shares (treasury shares) Number of shares: 160,858 Ratio to total shares outstanding (%): 1.7 Exchange request period: Start date 2026-02-19; End date 2031-01-13

13. Remaining face (electronically registered) amount of bonds after acquisition (KRW): 0

14. Subject to Fair Trade Commission reporting: Not applicable

15. Other matters for investment reference (1) Item 5 above, "Total face (electronically registered) amount of bonds," is the original issuance amount of KRW 2,198,647,754. Since issuance, a portion of these exchangeable bonds has been exchanged pursuant to bondholders' exchange requests, so the current face (electronically registered) amount of the outstanding bonds is KRW 600,000,000. The Company plans to acquire, prior to maturity, the currently outstanding KRW 600,000,000 of exchangeable bonds by agreement with the bondholder. (2) Due to the Company's 5:1 share consolidation on 2026-04-30, the number of shares subject to exchange changed from 804,291 shares to 160,858 shares. (3) In connection with this matter, if there are shares subject to exchange deposited with the Korea Securities Depository, such shares will be returned to the Company.

[Matters Concerning the Seller] Seller name: Synergy Investment Advisory Co., Ltd.; Relationship with the Company or largest shareholder: -; Basis of selection: Bondholder (mutual agreement); Transaction history and plans within 6 months before/after the acquisition decision: -; Face amount of bonds sold (KRW): 600,000,000; Remarks: -

* If a seller is the issuer's largest shareholder or a related party thereof, the section [Where the sellers include the issuer's largest shareholder or a related party] is additionally stated. In addition, if any seller is a corporation, investment association, or other entity, the section [Where the sellers include a corporation or entity] is additionally stated. (Excluded, however, where an entity subject to external audit does not become the largest shareholder of the issuer through the exercise of rights granted under these bonds.)