KEC Corrections Stock Option Grant - Reflecting 5:1 Stock Split

Correction of stock option grant: Adjusts quantity and exercise price for 73 employees approved at 2025.3.27 shareholders' meeting due to 5:1 stock split (effective 2026.4.30).
Options: 2,340,000 shares → 468,000 shares; exercise price: 820 won → 4,100 won; fair value: 307.32 won → 1,536.6 won.
Exercise period: 2027.3.27~2034.3.26 (2 years after grant date up to 7 years).
Exercise price: higher of volume-weighted average stock price before shareholders' meeting or face value (2,500 won after split).
Settlement method: company decides among new share issuance, treasury shares, or cash/stock differential settlement at exercise.
Fair value calculation: binomial model, closing price before grant date 3,930 won (post-split), risk-free rate 2.87%, volatility 40.7%.