[Amended] Merger decision (subsidiary)

What happened

Saeronautomotive Corporration / Merger Decision (Material Management Matter of Subsidiary) / (2026.08.31) Merger Decision (Material Management Matter of Subsidiary)

Amendment Report Amendment date: 2026-08-31

1. Disclosure document being amended: Merger Decision (Material Management Matter of Subsidiary) 2. Filing date of the disclosure document being amended: 2024-12-26 3. Reason for amendment: Amendment due to a schedule change

4. Amended items Item 8. Merger schedule Before: (1) Merger effective date: 2026-08-31; (2) Expected merger registration date: 2026-08-31 After: (1) Merger effective date: 2026-12-29; (2) Expected merger registration date: 2026-12-29

- Merger Decision (Material Management Matter of Subsidiary) Report of a material management matter of the subsidiary Saeron Automotive (Yantai) Corporation

1. Method of merger: The parent company Saeronautomotive Corporration's major subsidiary, Saeron Automotive (Yantai) Corporation, will absorb Saeron Automotive (Beijing) Corporation. Surviving company: Saeron Automotive (Yantai) Corporation Dissolving company: Saeron Automotive (Beijing) Corporation

2. Purpose of the merger: To pursue operational efficiency through the integration of human and physical resources and to strengthen competitiveness through mutual complementation of capabilities, thereby maximizing synergy effects in the China business.

3. Merger ratio: -

4. Basis for calculating the merger ratio: Both the surviving company, Saeron Automotive (Yantai) Corporation, and the dissolving company, Saeron Automotive (Beijing) Corporation, are unlisted local Chinese companies whose registered capital is not divided into shares; accordingly, there is no concept of number of shares or par value, and each company holds only an equity interest in its paid-in capital. Corporate value: Surviving company: - / Dissolving company: -

5. Type and number of new merger shares Common shares: - Preferred/other class shares: -

6. Merger counterparty Company name: Saeron Automotive (Beijing) Corporation Main business: Manufacture of automotive parts Relationship with the Company: Affiliate Financial information for the most recent fiscal year (KRW million): Total assets: 57,888; Capital stock: 9,103; Total liabilities: 7,079; Revenue: 23,142; Total equity: 50,809; Net income: 1,720

7. Newly established company via merger Company name: - Financial information at establishment (KRW million): Total assets: - / Total liabilities: - / Total equity: - / Capital stock: - Current new business segment's revenue for the most recent fiscal year (KRW million): - Main business: -

8. Merger schedule Expected shareholders' meeting date: - Old share certificate submission period: Start date: - / End date: - Creditor objection period: Start date: - / End date: - Merger effective date: 2026-12-29 Expected merger registration date: 2026-12-29 Expected date of delivery of new share certificates: -

9. Matters relating to appraisal rights: -

10. Board resolution date (decision date): 2022-12-27 - Attendance of outside directors: Present (persons): - / Absent (persons): - - Attendance of the auditor (audit committee member who is not an outside director): Absent

11. Future plans for corporate restructuring: -

12. Other important matters relevant to investment decisions - Saeron Automotive (Yantai) Corporation and Saeron Automotive (Beijing) Corporation are both subsidiaries owned 100%/90% respectively by the parent company, Saeronautomotive Corporration. - This merger will proceed in accordance with local Chinese laws and regulations. - The financial information of the merger counterparty in item 6 above, and the financial information of the subsidiary below, are based on the consolidated financial statements as of December 31, 2021. - The merger schedule in item 8 above is the current expected schedule, taking into account the time required for approvals and permits from the relevant Chinese authorities and the transfer of business counterparties at the local entities; it may change in the future depending on the local procedures involving approvals, permits and consultations with the relevant authorities. - If a material change occurs in the actual course of the merger, it will be separately disclosed.

* Related disclosures: - * Related disclosure regulations: Financial Investment Services and Capital Markets Act

[Matters Relating to the Subsidiary] Subsidiary name: Saeron Automotive (Yantai) Corporation English name: Saeron Automotive (Yantai) Corporation Representative: Jung Kyung-ho Main business: Manufacture of automotive parts Whether a major subsidiary: Applicable Total assets of the subsidiary (KRW): 75,993,118,626 Total consolidated assets of the parent company (KRW): 268,378,497,917 As a percentage of the parent company's total consolidated assets (%): 28.3