KOAS Co., Ltd. announced a private placement to issue Zero Coupon Series 4 Bearer Interest Unsecured Non-segregated Private Placement Rights Subordinated Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000 and Zero Coupon Series 3 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000, Zero Coupon Series 1 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000 and Zero Coupon Series 2 Bearer Interest Unsecured Private Placement Convertible Bonds due September 11, 2027 for the gross proceeds of KRW 10,000,000,000; aggregate gross proceeds of KRW 40,000,000,000 on July 5, 2024. The transaction will include participation from new investor Baekun Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.

Series 3 bonds - The transaction will include participation from new investor Kim Bok Duk. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.

Series 2 bonds - The transaction will include participation from new investor Dahlia Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.

Series 1 bonds - The transaction will include participation from new investor Minerva Fund. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on September 11, 2024. The bonds are 100% convertible into 2,329,373 shares at a fixed conversion price of KRW 4,293 from September 11, 2025 to August 11, 2027. The bonds bear zero coupon rate and maturity rate and matures on September 11, 2027.