Change of largest shareholder

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N Citron / Change of Largest Shareholder / (2026.09.03) Change of Largest Shareholder

Change of Largest Shareholder

1. Details of the change Largest shareholder before change: Jeong In-gyeon and 5 others; Number of shares held: 1,609,199; Ownership ratio (%): 13.71 Largest shareholder after change: Cactus Oasis No. 3 Investment Partnership and 5 others; Number of shares held: 4,781,430; Ownership ratio (%): 31.55

2. Reason for change Change of largest shareholder due to payment for a third-party-placement rights offering - Whether the change is due to acquisition of forfeited shares: No - Whether the transferred shares are subject to mandatory holding: No

3. Purpose of the equity acquisition Participation in management - Method of financing the acquisition: own funds (KRW) 5,999,999,136; borrowed funds (KRW) -; lender -; borrowing period - to -; collateral details - - Plan for appointment/dismissal of officers after acquisition: At the extraordinary general meeting of shareholders on August 28, 2026, Other Non-Executive Director Jeong Han-seol and Heo Jong-su, and Independent Director Cho Yun-seok, were appointed.

4. Date of change: 2026-09-03 5. Date of confirmation of change: 2026-09-03

6. Other matters for reference in investment decisions 1) This disclosure reflects the "Rights Offering Decision (Third-Party Placement)" and the "Execution of Contract Regarding Change of Management Control" dated August 13, 2026. 2) The ownership ratio of the "largest shareholder before change" in Section 1 above is calculated based on the total number of issued shares (11,737,677 shares), excluding shares without voting rights, before the effective date of the new shares issued upon completion of payment for the third-party-placement rights offering. 3) The ownership ratio of the "largest shareholder after change" in Section 1 above is calculated based on the total number of issued shares (15,154,533 shares), excluding shares without voting rights, after the effective date of the new shares issued upon completion of payment for the third-party-placement rights offering. 4) "4. Date of change" and "5. Date of confirmation of change" are the date on which payment for the rights offering was completed. 5) The new shares issued under the third-party-placement rights offering are scheduled to be held in mandatory custody for one year.

Related disclosures: 2026-08-13 Rights Offering Decision (Third-Party Placement) 2026-08-13 Execution of Contract Regarding Change of Management Control

[Detailed change breakdown] Name (corporation/partnership/other entity name): Jeong In-gyeon; Relationship: largest shareholder before change; Before change: 671,666 shares, 5.72%; After change: 671,666 shares, 4.43%; Note: special related party of largest shareholder after change Song Jeong-woo; Relationship: special related party of largest shareholder before change; Before: 162,222 shares, 1.38%; After: 162,222 shares, 1.07%; Note: special related party of largest shareholder after change Kim Ok-sang; Relationship: special related party of largest shareholder before change; Before: 330,687 shares, 2.82%; After: 330,687 shares, 2.18%; Note: special related party of largest shareholder after change So Byeong-min; Relationship: special related party of largest shareholder before change; Before: 197,097 shares, 1.68%; After: 197,097 shares, 1.30%; Note: - No Gyeong-bong; Relationship: special related party of largest shareholder before change; Before: 199,999 shares, 1.70%; After: 199,999 shares, 1.32%; Note: special related party of largest shareholder after change Gong Hyeon-jeong; Relationship: special related party of largest shareholder before change; Before: 47,528 shares, 0.40%; After: 47,528 shares, 0.31%; Note: - Cactus Oasis No. 3 Investment Partnership; Relationship: largest shareholder after change; Before: - , -; After: 2,277,904 shares, 15.03%; Note: - Cactus Growth Capital Investment Partnership; Relationship: special related party of largest shareholder after change; Before: - , -; After: 1,138,952 shares, 7.52%; Note: -

[Matters concerning the largest shareholder after change (where the entity is a partnership)]

1. Basic information of the partnership - Governing law for formation (establishment): New Technology Business Investment Partnership under the Specialized Credit Finance Business Act - Name: Cactus Oasis No. 3 Investment Partnership - Registration number: 803-80-03709 - Number of investors: 15 - Total partnership assets (KRW): 16,459,351,712 - Representative partner: name VS Investment Co., Ltd.; contribution share (%) 3.04 - Managing partner: name Cactus Private Equity Co., Ltd. and 1 other; contribution share (%) 9.12 - Largest contributor: name KG Inicis Co., Ltd.; contribution share (%) 30.40 - Status and equity information of major contributors (10% or more): JLC Partners Co., Ltd. 21.28%; Poongjun Nonferrous Metals Co., Ltd. 15.20%

- Officer career history of the representative partner, managing partner, largest contributor and major contributors: name -; company -; listing status -; delisting date (if applicable) -; position -; date joined -; date left -; note - (no entries)

- History as largest shareholder of a listed company, for the representative partner, managing partner, largest contributor and major contributors: KG Inicis Co., Ltd., KG Financial Co., Ltd., listed (KOSDAQ), not delisted, start date 2008-10-10, end date -, note - Poongjun Nonferrous Metals Co., Ltd., PJ Metal Co., Ltd., listed (KOSDAQ), not delisted, start date 2010-12-13, end date -, note -

2. Key financial matters, etc. (unit: KRW million) Fiscal year: 2025, settlement month December Total assets: 16,459; Capital stock: 16,450; Total liabilities: 186; Revenue: 9; Total equity: 16,273; Net income/loss: -176; External auditor: Samduk Accounting Corporation; Audit opinion: unqualified

3. Relationship with the listed company - Relationship between the listed company and the largest shareholder (partnership): - - Relationship between the listed company's officers, etc. and the largest shareholder (partnership): name -; relationship with largest shareholder (partnership) - (no entries)

4. Transaction history between the listed company and the largest shareholder (partnership) over the last 3 years (excluding ordinary course transactions) Category: transaction details; current year -; prior year -; year before that -