[Amended] Change of largest shareholder

A later amendment corrects this filing, so the terms on this page may be out of date. See the latest version (2026-09-03) →

What happened

Icure Pharmaceutical Incorporation / Change of Largest Shareholder / (2026.08.31) Change of Largest Shareholder Amendment Report Amendment date: 2026-08-31

1. Disclosure document being amended: Change of Largest Shareholder 2. Filing date of the disclosure document being amended: 2026.08.28 3. Reason for amendment: Correction of stated content

4. Amended items Amendment item: "Other matters for reference in investment decisions"

Before amendment: - Of the new shares issued under this third-party placement capital increase, the 2,901,353 shares to be allotted to Shinshin Pharmaceutical Co., Ltd. and the 2,901,353 shares to be allotted to Deep Dive K-Beauty 2026 Private Equity Investment Limited Partnership are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations, and the 18,858,802 new shares to be allotted to Solum Cosmetic Co., Ltd. are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations. However, the mandatory holding period may be extended upon resumption of trading depending on the result of the listing-maintenance review.

After amendment: - Of the new shares issued under this third-party placement capital increase, the 2,901,353 shares to be allotted to Shinshin Pharmaceutical Co., Ltd. and the 2,417,794 shares to be allotted to Deep Dive K-Beauty 2026 Private Equity Investment Limited Partnership are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations, and the 18,858,802 new shares to be allotted to Solum Cosmetic Co., Ltd. are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations.

Amendment item: "Details of the Change" Before amendment: Shinshin Pharmaceutical Co., Ltd., equity ratio 4.77% After amendment: Shinshin Pharmaceutical Co., Ltd., equity ratio 4.7%

Change of Largest Shareholder

1. Details of the change Largest shareholder, etc. before the change: Choi Yeong-gwon; Shares held: 5,663,353; Ownership ratio: 15.08% Largest shareholder, etc. after the change: Solum Cosmetic Co., Ltd. and 2 others; Shares held: 24,177,949; Ownership ratio: 39.16%

2. Reason for the change: Change due to acquisition of new shares upon completion of payment for the capital increase (third-party placement) - 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 the equity acquisition: Participation in management - Method of financing the acquisition: Own funds (KRW) 21,842,660,013; Borrowed funds (KRW) 3,157,339,253; Lender: GI Value-up First Co., Ltd.; Borrowing period: 2026-08-28 to 2029-08-27; Collateral details: Common shares issued by the Company, etc. - Plan to appoint or dismiss executives after the acquisition: Two in-house directors and two independent directors were appointed at the extraordinary general meeting of shareholders held on August 28, 2026.

4. Date of change: 2026-08-28 5. Date the change was confirmed: 2026-08-28

6. Other matters for reference in investment decisions - The "ownership ratio" in "1. Details of the change" above is based on total issued shares of 61,736,317, including the shares from this third-party placement capital increase. - Of the new shares issued under this third-party placement capital increase, the 2,901,353 shares to be allotted to Shinshin Pharmaceutical Co., Ltd. and the 2,417,794 shares to be allotted to Deep Dive K-Beauty 2026 Private Equity Investment Limited Partnership are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations, and the 18,858,802 new shares to be allotted to Solum Cosmetic Co., Ltd. are expected to be placed under a mandatory one-year holding deposit pursuant to the KOSDAQ market listing regulations. - The "4. Date of change" and "5. Date the change was confirmed" above are the payment date for the capital increase. * Related disclosures: 2026-08-28 Decision on Capital Increase 2026-08-28 Decision on Capital Increase (Third-Party Placement) 2026-08-18 Decision on Capital Increase 2026-08-14 Decision on Capital Increase 2026-08-12 Decision on Capital Increase 2026-08-05 Decision on Capital Increase 2026-06-29 Decision on Capital Increase (Third-Party Placement)

[Details of the Change] Choi Yeong-gwon: Largest shareholder before the change; Before: 5,106,880 shares, 13.6%; After: 5,106,880 shares, 8.27% Choi Yeong-jin: Largest shareholder before the change; Before: 365,392 shares, 0.97%; After: 365,392 shares, 0.59% Choi Dong-hyeon: Largest shareholder before the change; Before: 89,103 shares, 0.24%; After: 89,103 shares, 0.14% Choi Dong-eun: Largest shareholder before the change; Before: 89,103 shares, 0.24%; After: 89,103 shares, 0.14% Choi Eun-ji: Largest shareholder before the change; Before: 10,285 shares, 0.03%; After: 10,285 shares, 0.02% Lee Jeong-woo: Largest shareholder before the change; Before: 2,590 shares, 0.01%; After: 2,590 shares, 0.01% Solum Cosmetic Co., Ltd.: Largest shareholder after the change; Before: -, -; After: 18,858,802 shares, 30.55% Shinshin Pharmaceutical Co., Ltd.: Related party of the largest shareholder after the change; Before: -, -; After: 2,901,353 shares, 4.7% Deep Dive K-Beauty 2026 Private Equity Investment Limited Partnership: Related party of the largest shareholder after the change; Before: -, -; After: 2,417,794 shares, 3.92%

[Matters Concerning the Largest Shareholder After the Change (Where a General Corporation)]

1. Basic information on the corporation Corporate name: Solum Cosmetic Co., Ltd. / Nationality: Republic of Korea / Address: 2354 Yongu-daero, 4th floor, Giheung-gu, Yongin-si, Gyeonggi-do (Mabuk-dong) / Corporate registration number: 134511-0073737 Main business activities: Other financial investment services - Largest shareholder: Solum Healthcare Co., Ltd.; Shares held 43,300; Equity ratio 100% - CEO: Kim Su-min; Shares held -; Equity ratio - - Executive career: Kim Su-min / Solum Cosmetic Co., Ltd. / Unlisted / - / In-house director / Date joined 2025-11-03 / Date left - / -; Solum Healthcare Co., Ltd. / Solum Healthcare Co., Ltd. / Unlisted / - / - / - / - / Largest shareholder of the largest shareholder - History as largest shareholder of a listed company: - / - / - / - / Start date - / End date - / -

2. Key financial matters, etc. (Unit: KRW million) Applicable fiscal year: 2025 / Settlement period: 1st fiscal year Total assets: 50,869 / Capital stock: 380 / Total liabilities: 24,028 / Revenue: - / Total equity: 26,840 / Net income: -1,260 / External auditor: - / Whether in business suspension: No / Audit opinion: - / Whether closed down: No

3. Relationship with the listed company - Relationship between the listed company and the largest shareholder (corporation): - - Relationship between the listed company's executives and the largest shareholder (corporation): -

4. Transactions between the listed company and the largest shareholder (corporation) over the most recent 3 years (excluding ordinary transactions) Current year: - / Prior year: - / Year before that: -