Decides to Merge with Subsidiary COMMAX CS via Stock-Free Small-Scale Merger

COMMAX (surviving entity) decides to absorb its wholly-owned subsidiary COMMAX CS (disappearing entity) in a stock-free merger with a merger ratio of 1:0, issuing no new shares.
Purpose is to create synergy through business integration and improve management efficiency to enhance corporate value.
Classified as a small-scale merger under Article 527-3 of the Korean Commercial Act, allowing board approval instead of a shareholder meeting. However, if shareholders holding 20% or more of outstanding shares object, it may switch to a general merger procedure.
No appraisal rights are granted to shareholders opposing the merger.
COMMAX CS is a 100% owned subsidiary of COMMAX; the merger is expected to reduce costs from maintaining separate operations.
There will be no change in COMMAX's capital stock or total issued shares after the merger.
The merger date is scheduled for July 1, 2026.
Key financials of COMMAX CS (2025): assets 6.06 billion KRW, liabilities 3.85 billion KRW, equity 2.21 billion KRW, revenue 8.17 billion KRW, net income 0.19 billion KRW.