Largest shareholder acquires put options worth 17.4 billion won on company's convertible bonds

Total shares outstanding increased (46,872,388 to 50,814,305), reducing largest shareholder's ownership ratio.
Largest shareholder Choi Kwang-su acquired put options totaling 17.4 billion won on the company's 5th and 6th private convertible bonds.
5th CB: acquired 7.4 billion won of put options out of 12.5 billion; convertible shares 520,650 at conversion price 14,213 won.
6th CB: acquired 10 billion won of put options out of 18.75 billion; convertible shares 222,573 at conversion price 44,929 won.
The option acquisition is exempt from trading plan reporting under Article 200-3(2) of FSCMA.

Filing: Report on Ownership of Specific Securities by Executives and Major Shareholders
Company: Sphere (347700)
Submission: Kwangsoo Choi
Receipt: 05-11-2026