Correction of Loan Decision - Shinsung ST to Provide 15.188 Billion Won Operating Fund to US Subsidiary

Shinsung ST resolved on April 6, 2026 to provide a loan of 15.188 billion won (USD 10 million at 1,518.80 KRW/USD) to its US Kentucky subsidiary. Due to contract delays, the start date was corrected from April 2026 to May 2026.
Purpose: Operating funds for raw material purchases and initial operations for ESS core component mass production. Interest rate 6.0%, term 1 year.
The subsidiary (established in 2025) reported as of end-2025: assets 109.0 billion won, liabilities 84.0 billion won, equity 24.4 billion won, sales 6.9 billion won, net loss 4.3 billion won.
Loan amount equals 14.61% of equity (consolidated, Dec 2025: 103.98 billion won).
Existing exposures include debt guarantees of USD 35 million and equity investment of USD 20 million.