Extraordinary Shareholders' Meeting for 80% Capital Reduction and Huge Operating Loss

Proposal for 80% capital reduction (5 shares consolidated into 1) at the 51st Extraordinary General Meeting, reducing issued shares from 90,882,907 to 18,176,581
Purpose of reduction: offset accumulated deficits and improve financial structure; record date June 14, 2026, effective June 15, 2026
FY2025 consolidated revenue KRW 23.0bn, operating loss KRW 44.0bn, net loss KRW 51.9bn
Ongoing R&D project sanction (KRW 7.3bn penalty, 2-year ban) related to COVID-19 DNA vaccine GLS-5310, but execution stay granted
Agenda for director election: internal directors Lee Joon-kyu, Jeon Kyung-ha, Kim Hoon-beom; no outside director candidates
Disclosure of board meeting attendance, outside director activities, and director compensation including auditor