[Amended] Material event report (spin-off)

A later amendment corrects this filing, so the terms on this page may be out of date. See the latest version (2026-10-12) →

What happened

Material Event Report (Spin-off Decision)

6.1

Kumyang Co., Ltd.

Amendment Report (Disclosure) October 2, 2026

1. Disclosure document being amended: Spin-off decision 2. Original submission date of the disclosure document being amended: 2026-09-09 3. Amended items

Item: 16. Other matters relevant to investment decisions Reason for amendment: Addition of content for investor protection Before amendment: - After amendment: (7) In connection with the suspension of duties of the representative director and executives notified by the Financial Services Commission (FSC) on September 2, 2026 regarding the physical spin-off initially resolved by the Company on September 9, 2026, the Company inquired with the law firm representing it in the related litigation and confirmed that: 1) the suspension of duties does not take effect simultaneously with the FSC's notification; 2) the party responsible for implementing the suspension of duties is the Company itself; and 3) since the Company is currently contesting the FSC's above decision through an injunction application and an administrative litigation on the merits, there is no problem with the representative director and executives in question proceeding with the physical spin-off currently underway.

Material Event Report / Matters Subject to Exchange Reporting Obligations To the Financial Services Commission / Korea Exchange September 9, 2026

Company name: Kumyang Co., Ltd. Representative director: Ryu Gwang-ji Head office address: 77 Nakdongdae-ro 960beon-gil, Sasang-gu, Busan (Phone) 051-316-5881 (Website) http://www.kyc.co.kr Preparer: (Title) Senior Managing Director (Name) Jang Ho-cheol (Phone) 051-310-5851

Spin-off Decision

1. Spin-off method (1) Pursuant to Articles 530-2 through 530-12 of the Commercial Act and as provided in this spin-off plan, the Company, Kumyang Co., Ltd. ("the Splitting Company"), will carry out a simple physical spin-off of certain business segments subject to the spin-off, establishing a newly incorporated company through the spin-off, while the Splitting Company continues to exist and is allotted 100% of the shares issued by the newly incorporated company.

[Details of the Spin-off] a. Surviving company (post-spin-off) Company name: Kumyang Co., Ltd. Business segment: All businesses except the business segment transferred to the newly incorporated company

b. Newly incorporated company Company name: KYDC Co., Ltd. Business segments: (1) Data center power supply and energy management business; (2) ESS and energy storage device-related business; (3) Data center thermal management business; (4) Data center facility and equipment maintenance business; (5) Data center security business; (6) AI platform and AI service business; (7) Production and sale of materials recovered from recycled metals; (8) Manufacture and sale of non-ferrous metal products; (9) Environmental industry; (10) Waste battery recycling business Note: The trade name of the newly incorporated company may be changed at its inaugural general meeting.

(2) The spin-off effective date shall be December 5, 2026, provided that the effective date may be changed by resolution of the board of directors of the Splitting Company or by decision of the representative director acting under delegation from the board.

(3) Pursuant to Article 530-3, Paragraphs 1 and 2 of the Commercial Act, the spin-off will be carried out by special resolution of the general shareholders' meeting, and the allocation of property, rights and obligations arising from the spin-off will be determined based on their relevance to, and the cause of their arising in connection with, the business segment subject to the spin-off. In particular, debts, damages liability, litigation liability, contractual liability, contingent liabilities and any other liabilities arising from acts or facts occurring before the spin-off effective date shall, in principle, be borne by Kumyang Co., Ltd., the surviving company.

(4) The businesses and property transferred due to the spin-off shall consist of the assets, rights and obligations necessary to carry on the business segment subject to the spin-off, and the specific scope, details and value thereof shall be finalized in the future taking into account relevant laws and accounting standards.

(5) Among the assets and rights/obligations belonging to the business segment subject to the spin-off, those assets, contractual rights/obligations, permits and licenses, intellectual property rights, trade secrets and other related rights/obligations necessary for the newly incorporated company to carry on its business will be transferred to the newly incorporated company. However, liabilities arising from acts or facts occurring before the spin-off effective date, and debts accompanying them, shall in principle be borne by Kumyang Co., Ltd., the surviving company.

(6) Debts or claims, and other rights/obligations and any liabilities accompanying them, that arise or become fixed after the spin-off effective date due to acts or facts occurring before the spin-off effective date shall, regardless of when they arise or become fixed, in principle belong to Kumyang Co., Ltd., the surviving company. This includes contingent liabilities, damages liability, tax-related liability, litigation liability and other legal liability arising from acts or facts that occurred before the spin-off effective date.

(7) Of the contracts and lawsuits to which the Splitting Company is a party before the spin-off effective date, liabilities and disputes arising from acts or facts occurring before the spin-off effective date shall, in principle, be borne by Kumyang Co., Ltd., the surviving company. However, contractual rights/obligations necessary for the newly incorporated company to continue to carry on the business segment subject to the spin-off after the spin-off effective date will be transferred to the newly incorporated company.

(8) Employees working in the business segment subject to the spin-off will be transferred to the newly incorporated company in accordance with relevant laws, while employees working in segments other than the business segment subject to the spin-off will maintain their employment relationship with the surviving company. However, liabilities and obligations relating to the employment relationship arising before the spin-off effective date shall in principle be borne by Kumyang Co., Ltd., the surviving company.

(9) The surviving company will take the necessary measures to enable the newly incorporated company to continue carrying on the business in the business segment subject to the spin-off as soon as the newly incorporated company is established.

(10) The specific details and value of the assets and liabilities transferred due to the spin-off, the scope of succession of rights and obligations, and other detailed matters will be finalized in the future in accordance with relevant laws.

2. Purpose of the spin-off (1) The Company will carry out a simple physical spin-off of the business segment engaged in (1) data center power supply and energy management; (2) ESS and energy storage device-related business; (3) data center thermal management; (4) data center facility and equipment maintenance; (5) data center security; (6) AI platform and AI service business; (7) production and sale of materials recovered from recycled metals; (8) manufacture and sale of non-ferrous metal products; (9) environmental industry; and (10) waste battery recycling business, and pursue the data center business, which can become a new source of cash flow and a significant growth driver for corporate value. (2) Through this spin-off, the Splitting Company will be able to concentrate investment on its core business, thereby strengthening its competitiveness, and by pursuing the sale of equity in the newly incorporated company, the Company aims to strengthen the competitiveness and improve the financial structure of both the Splitting Company and the newly incorporated company. (3) The newly incorporated company will concentrate and manage the land, buildings and related facilities within the Gijang plant that are directly used for the development, investment and operation of the data center business, the power receiving facilities, the 154kV substation and three 100MW-class transformers and related power-supply infrastructure, and other data center infrastructure such as cooling, water supply, air conditioning, communications and security, together with other related assets, thereby enhancing the expertise and operational efficiency of the related business and maximizing the utilization value of assets by actively using the Company's existing business sites and infrastructure for the data center business. This will also lay the foundation for attracting the investment capital needed by the Company, securing the funds required to pursue the business, and promoting the normalization of the surviving company and the growth and strengthened competitiveness of the newly incorporated company.

3. Material impact and effect of the spin-off This spin-off will proceed as a simple physical spin-off in accordance with Articles 530-2 through 530-12 of the Commercial Act. Accordingly, there will be no change in the shares held or the ownership ratio of the largest shareholder of the Splitting Company before and after this spin-off. In addition, since this spin-off is carried out as a simple physical spin-off, the spin-off itself has no impact on the consolidated financial statements.

4. Spin-off ratio Since this is a simple physical spin-off in which the Splitting Company acquires all of the total shares issued by the newly incorporated company, no spin-off ratio is calculated.

5. Details of the business and property to be transferred by the spin-off As of the date of preparation of this disclosure, the specific details and value of the assets and liabilities to be transferred by the spin-off have not yet been finally determined, and will be finalized and reflected in the spin-off plan after relevant procedures, including approval of the spin-off plan at the extraordinary general meeting of shareholders.

6. Surviving company after the spin-off Company name: Kumyang Co., Ltd. Financial details after the spin-off (KRW): Total assets: 1,174,899,466,779 Total liabilities: 759,117,349,987 Total equity: 415,782,116,792 Capital stock: 31,983,598,000 (As of March 31, 2026) Revenue of the surviving business segment for the most recent fiscal year (KRW): 5,395,445,571 Main business: Secondary batteries, resource development (mining), foaming agents, etc. Whether listing is maintained after the spin-off: Yes

7. Newly incorporated company Company name: KYDC Co., Ltd. Financial details at incorporation (KRW): Total assets: 504,554,948,568 Total liabilities: - Total equity: 504,554,948,568 Capital stock: 10,000,000 (As of March 31, 2026) Revenue of the newly incorporated business segment for the most recent fiscal year (KRW): - Main business: Data center construction and infrastructure operation, leasing business, data center power supply and energy management business, production and sale of materials recovered from recycled metals, manufacture and sale of non-ferrous metal products, environmental industry, waste battery recycling, etc. Whether a re-listing application will be filed: No

8. Matters relating to capital reduction Capital reduction ratio (%): - Old share certificate submission period - start date: -; end date: - Scheduled trading suspension period - start date: -; end date: - New share allotment terms: - Whether allotment is proportional to shareholders' number of shares, and reason: - New share allotment record date: - Scheduled new share certificate delivery date: - Scheduled new share listing date: -

9. Spin-off schedule Board resolution date: September 9, 2026 Independent (outside) director* attendance: Present (persons) 1; Absent (persons) 1 Auditor (audit committee member who is not an independent (outside)* director) attendance: Present Shareholder record date: September 28, 2026 Shareholder register closure period - start date: -; end date: - Period for receiving notices of dissent to the spin-off - start date: October 2, 2026; end date: October 18, 2026 Scheduled date of general shareholders' meeting: October 19, 2026 Appraisal right exercise period - start date: October 20, 2026; end date: November 8, 2026 Creditor objection period - start date: November 2, 2026; end date: December 3, 2026 Spin-off effective date: December 5, 2026 Completion report general meeting date: December 11, 2026 Scheduled spin-off registration date: December 11, 2026

10. Matters relating to appraisal rights (share purchase demand right) Requirements for exercise (1) Pursuant to Articles 530-2 through 530-12 of the Commercial Act and Article 165-5 of the Financial Investment Services and Capital Markets Act ("FSCMA") and Article 176-7, Paragraph 1, Item 2 of its Enforcement Decree, a shareholder registered in the register of shareholders as of the shareholder record date who dissents from the board resolution on the spin-off and notifies the Company in writing of such dissent by no later than the day before the date of the general shareholders' meeting resolution may, within 20 days from the date of the general shareholders' meeting resolution, submit a written document to the Company stating the type and number of shares and demand that the Company purchase the shares; a demand for purchase of only part of the shares held is also permitted. (2) However, shares eligible for the purchase demand are limited to shares that the dissenting shareholder proves were acquired before the board resolution was disclosed, or shares acquired after the board resolution was disclosed but proven to fall under any of the following by no later than the day after the date the board resolution was disclosed: (i) execution of a sale and purchase agreement regarding the shares, (ii) termination of a loan-for-consumption agreement regarding the shares, or (iii) a legal act regarding the shares. (3) Meanwhile, the appraisal right is granted only to shareholders who continue to hold their shares until the date of exercise of the appraisal right; shares sold and reacquired during this period lose the appraisal right, and once the appraisal right has been exercised it cannot be withdrawn. In addition, a shareholder who has given prior written notice of dissent to the board resolution on the spin-off but votes in favor of the spin-off at the general shareholders' meeting may not exercise the appraisal right. (4) The Splitting Company is a company listed on the KOSPI market, and it must purchase the relevant shares within one month from the date the appraisal-right exercise period ends, with respect to the demand. Expected purchase price: 9,900 Procedures, method, period, and place of exercise (1) Exercise procedure: A shareholder registered in the register of shareholders of the Splitting Company as of the shareholder record date (under Article 165-5 of the FSCMA, the appraisal right is granted only to a shareholder who can prove that a share purchase agreement was executed by the date the board resolution was disclosed, or who can prove that, by the next business day after the date the board resolution was disclosed, (i) a sale and purchase agreement regarding the shares was executed, (ii) a loan-for-consumption agreement regarding the shares was terminated, or (iii) a legal act regarding the shares occurred, and who continues to hold the shares until the date of exercise of the appraisal right) must notify the Company in writing of its dissent to the board resolution on this spin-off by no later than the day before the general shareholders' meeting. A shareholder whose shares are electronically registered in a customer account must request that the account management institution (e.g., the securities company where the customer account was opened) indicate the dissent by no later than three business days before the end date of the dissent notification period; the account management institution, etc. must compile the indications of dissent and apply to the Korea Securities Depository ("KSD") by no later than two business days before the end date of the dissent notification period, attaching a statement indicating, by shareholder, the shareholder's intent and number of shares held, using the KSD's prescribed dissent notification application form; and the KSD, upon receiving such application, must notify the Company of the dissent in the name of the shareholders by the end date of the dissent notification period. (2) Exercise of the appraisal right: Pursuant to Article 165-5 of the FSCMA, a shareholder who has given the above notice of dissent may, within 20 days from the date of the general shareholders' meeting resolution, demand that the Splitting Company purchase the shares it owns by submitting a written document stating the type and number of shares. A shareholder who has deposited the share certificates with a securities company (financial investment business entity) may apply to that securities company, which must apply to the KSD by no later than the business day before the end date of the appraisal-right exercise period; the KSD then makes the purchase demand in writing to the Company on behalf of the shareholder on the end date of the appraisal-right exercise period. A shareholder who wishes to exercise the appraisal right directly against the Company must notify the Company in writing by the close of business on the end date of the appraisal-right exercise period. Once the appraisal right has been exercised, the purchase demand cannot be cancelled or withdrawn. (3) Exercise period: A shareholder who has given the Company written notice of dissent to the board resolution on the spin-off before the general shareholders' meeting may make the purchase demand within 20 days from the date of the general shareholders' meeting resolution. (4) Place of exercise: For general shareholders (beneficial shareholders): the relevant securities company handling the transaction. Expected timing and method of payment: Payment will be made within one month from the date the appraisal-right exercise period ends, either in cash or by transfer to the shareholder's registered account. Matters relating to restriction of the appraisal right: There is no case in which the appraisal right is restricted if the above "requirements for exercise of the appraisal right" are met. Effect on contracts (1) This spin-off is a simple physical spin-off under Articles 530-2 through 530-12 of the Commercial Act, and the appraisal right of dissenting shareholders is recognized under Article 165-5 of the FSCMA. Regarding matters relating to the appraisal right, if no agreement is reached on the purchase price between the shareholder exercising the appraisal right and the Splitting Company as provided in Article 165-5, Paragraph 3 of the FSCMA, the purchase price shall be the arithmetic average (rounded up to the nearest won) of the prices calculated by the following methods set out in Article 176-7, Paragraph 3, Item 1 of the Enforcement Decree of the FSCMA: - The weighted arithmetic average price, weighted by the trading volume of actual transactions, of the daily closing prices published on the securities market over the past two months before the day preceding the board resolution date (or, where the base price for trading has been adjusted due to an ex-dividend or ex-rights event during that period and the period from the date of such event to the day preceding the board resolution date is seven days or more, that period instead) - The weighted arithmetic average price, weighted by the trading volume of actual transactions, of the daily closing prices published on the securities market over the past one month before the day preceding the board resolution date (subject to the same adjustment rule as above) - The weighted arithmetic average price, weighted by the trading volume of actual transactions, of the daily closing prices published on the securities market over the past one week before the day preceding the board resolution date (2) If the total purchase price for shares for which the appraisal right is exercised in opposition to this spin-off exceeds KRW 100,000,000,000 (one hundred billion won) as of the expiration of the appraisal-right exercise period (including a case where, even if the purchase price has not been agreed between the shareholders and the Company, it is reasonably expected that the aggregate amount, including the expected purchase price, will exceed KRW 100,000,000,000 (one hundred billion won)), the Splitting Company may, by board resolution, suspend the progress of this spin-off and withdraw the decision to carry out this spin-off. If a board resolution to withdraw the decision on this spin-off is adopted, the procedures relating to the exercise of the appraisal right will also be suspended, and the Splitting Company will not be obligated to pay the share purchase price arising from the exercise of the appraisal right.

11. Whether a put option or other such contract has been executed: No - Contract details: -

12. Whether subject to filing of a securities registration statement: No - Reason for exemption from filing: Simple physical spin-off

* Independent director applies to listed companies; outside director applies to unlisted companies.

13. Future plans for corporate restructuring Through this business restructuring, the Company aims to enhance the expertise and management efficiency of its existing businesses and to establish an independent growth foundation for each business segment. This spin-off will proceed by way of a physical spin-off in which Kumyang Co., Ltd., the surviving company, spins off its business of producing and selling materials recovered from recycled metals, manufacturing and selling non-ferrous metal products, its environmental industry business, and its waste battery recycling business, and transfers them to KYDC Co., Ltd., the newly incorporated company. Through this spin-off, the Company plans to separate the business segment subject to the spin-off into an independent company, enabling specialized management and business administration of that segment, and to enhance decision-making and operational efficiency suited to the nature of the business. Kumyang Co., Ltd., the surviving company, will continue to carry on its existing businesses other than the business segment subject to the spin-off after this spin-off, and will continue to review business restructuring to strengthen business competitiveness and enhance corporate value, taking into account its future financial structure and management conditions comprehensively. In particular, the surviving company plans to maintain the continued pursuit of its battery-related business and mining-related business as a basic direction, while adjusting the pace of investment and business expansion in stages in consideration of the Company's financial situation and management conditions, and pursuing business normalization and strengthened competitiveness. In addition, the Company plans to pursue the data center business by actively utilizing the land and buildings within the Gijang plant designated for conversion to data center use, which will be transferred to the newly incorporated company, together with the power receiving facilities, the 154kV substation and three 100MW-class transformers and related power-supply infrastructure, and infrastructure directly used for the data center business such as cooling, water supply, air conditioning, communications and security. Through this, the Company plans to enhance the utilization of its existing business sites and infrastructure, and to improve operational efficiency and maximize the utilization value of assets by professionally carrying out the development, investment and operation of the data center business in a separate business area. In addition, by laying the foundation for attracting external investors and investment capital suited to the characteristics of the data center business, the Company plans to secure the funds necessary to pursue the business, ease the financial burden on the surviving company arising from large-scale investment, and promote the growth and strengthened competitiveness of the newly incorporated company. The Company will comprehensively consider the growth potential of the business and investment conditions in the course of future external investment attraction and business pursuit, and will review various investment and funding methods. The Company plans to continuously review its business portfolio by comprehensively considering the characteristics, growth potential, financial structure and investment conditions of each business going forward, and, where necessary, to review additional business restructuring in order to enhance the Company's corporate value and shareholder value.

14. Review of the physical spin-off, in the case of a physical spin-off The Company has decided to pursue a physical spin-off in which it establishes KYDC Co., Ltd., the newly incorporated company, with Kumyang Co., Ltd., the surviving company, holding 100% of the shares issued by the newly incorporated company. In the case of a physical spin-off, the Company considered that, while the business segment subject to the spin-off is legally separated into an independent company, the surviving company will hold 100% of the equity of the newly incorporated company, thereby maintaining the control relationship of the Company before and after the spin-off while enabling independent management and business administration of the business segment subject to the spin-off. In addition, the Company determined that the physical spin-off would strengthen segment-based accountable management by independently managing the business and management of the business segment subject to the spin-off, and would be able to enhance management efficiency by establishing decision-making and operating systems suited to the nature of the business. In particular, the newly incorporated company plans to concentrate and manage related businesses and assets centered on infrastructure such as the land and buildings within the Gijang plant that can be directly used for the development, investment and operation of the data center business, the power receiving facilities, the 154kV power transmission and supply-related infrastructure, transformers and transmission/distribution facilities, cooling and air-conditioning facilities, and communications and security. Through this, the Company determined that it would be able to increase the utilization of its existing business sites and infrastructure and enhance the utilization value of assets and business efficiency by establishing a specialized development and operating system for the data center business. In addition, the Company determined that by separating the data center business into a separate legal entity, it would be able to establish an investment structure suited to the nature of the business and lay the foundation for attracting the capital necessary for the business from various external investors, both domestic and foreign, going forward. Through this, the Company determined that it would be able to more efficiently secure the investment funds necessary for the development and operation of the data center business, ease the financial burden on the surviving company arising from large-scale investment, and at the same time promote the growth and strengthened competitiveness of the newly incorporated company. The Company judges that this physical spin-off will enhance the expertise and management efficiency of the business segment subject to the spin-off, while the surviving company maintains control over the newly incorporated company, allowing it to continue to enjoy the growth opportunities and corporate value created in that business segment even after the spin-off. As a result, the Company aims to establish a virtuous cycle of: improvement of Kumyang's existing financial structure, establishment of KYDC's clean infrastructure, attraction of global investors, AIDC (AI data center) development, and generation of stable leasing and operating income. Meanwhile, this physical spin-off is intended to separate the business segment subject to the spin-off into a legal entity distinct from the surviving company in order to enhance the expertise and efficiency of the business, and is not intended for external sale or business withdrawal through the spin-off itself. Going forward, the Company plans to strengthen the competitiveness of each business and enhance corporate value through independent management and business administration suited to the characteristics of the businesses of the surviving company and the newly incorporated company. Having comprehensively reviewed the foregoing, the Company has determined that, at this time, the physical spin-off method is appropriate in terms of establishing a specialized management system for the business segment subject to the spin-off, enhancing business efficiency, efficiently utilizing existing business sites and infrastructure, securing investment funds for the data center business and laying the foundation for attracting external investment, and maintaining the surviving company's control and business continuity, and has accordingly decided to proceed with this physical spin-off.

15. Shareholder protection measures, in the case of a physical spin-off This physical spin-off is being pursued with the principal aims of efficiently restructuring the Company's business structure, enhancing the expertise and management efficiency of each business segment, and, at the same time, restoring the Company's normal management foundation and protecting shareholder value. The Company will pursue this physical spin-off not merely as a procedure for transferring a specific business segment into a separate legal entity, but as part of a management strategy to establish a management and investment system suited to the characteristics of each business and thereby enhance the Company's overall corporate value. In the process of transferring the business segment subject to the spin-off to KYDC Co., Ltd., the newly incorporated company, the value of the assets and liabilities to be transferred will be appropriately calculated in accordance with relevant laws and accounting standards, and the fairness and appropriateness of the spin-off will be ensured by comprehensively reviewing the financial condition of the surviving company and the newly incorporated company before and after the spin-off. In addition, the Company will faithfully implement the disclosure and shareholder protection procedures required under relevant laws and capital markets regulations so that the rights and interests of existing shareholders are not unfairly infringed in the course of the physical spin-off. In particular, the Company will faithfully disclose matters relating to the convening of the general shareholders' meeting and the spin-off plan, the key content of the spin-off, and future business plans, and will faithfully comply with shareholder protection systems such as the appraisal right prescribed under relevant laws. In addition, if, in the course of KYDC Co., Ltd.'s future business pursuits, matters arise that could materially affect fundraising or governance, such as attracting external investment or listing, the Company will carefully review the relevant procedures and requirements under applicable laws and exchange regulations, and will proceed by comprehensively considering the impact on the rights and interests of existing shareholders and shareholder value. Even if the Company pursues external investment or listing of the newly incorporated company in the future, it will fully consider the purpose of relevant regulations and shareholder protection systems, and, where necessary, will endeavor to minimize the possibility of impairing shareholder value by transparently disclosing major decisions through appropriate procedures and disclosure.

16. Other matters relevant to investment decisions (1) The specific content and schedule of this spin-off may change depending on relevant laws, the review and approval of relevant authorities, and the results of the general shareholders' meeting resolution, and if the spin-off plan needs to be amended, it may be changed in accordance with relevant laws and procedures. (2) As a result of this spin-off, the assets, liabilities and profit/loss structure of the surviving company and the newly incorporated company may change, and the business performance of each company after the spin-off may be affected by domestic and international economic conditions, market conditions, raw material prices, the competitive environment, investment conditions, and other factors. (3) Matters that could affect the Company's governance structure, such as attracting external investment in, raising capital for, changing the equity structure of, or listing KYDC Co., Ltd., the newly incorporated company, have not currently been specifically determined, and will be reviewed and pursued in accordance with relevant laws and regulations going forward. (4) If shareholders exercise the appraisal right in connection with this spin-off, cash outflows may occur due to payment of the share purchase price, and the actual financial impact may vary depending on the results of the exercise of the appraisal right. (5) If any material matter relating to this spin-off arises or changes in the future, it will be disclosed in accordance with relevant laws and regulations. (6) The financial information for "6. Surviving company after the spin-off" and "7. Newly incorporated company" above is prepared based on financial information for which the accounting firm's audit and review opinion was disclaimed, and may change in the future and differ from the actual financial condition and business performance. (7) In connection with the suspension of duties of the representative director and executives notified by the Financial Services Commission on September 2, 2026 regarding the physical spin-off initially resolved by the Company on September 9, 2026, the Company inquired with the law firm representing it in the related litigation and confirmed that: 1) the suspension of duties does not take effect simultaneously with the FSC's notification; 2) the party responsible for implementing the suspension of duties is the Company itself; and 3) since the Company is currently contesting the FSC's above decision through an injunction application and an administrative litigation on the merits, there is no problem with the representative director and executives in question proceeding with the physical spin-off currently underway.

Related disclosures: None.