Socar Files Correction of Stock Option Grant - Total Options Reduced by 106,500 Shares

Correction of stock option grant disclosure: total granted shares reduced by 106,500 from 1,616,000 to 1,509,500 due to resignation of a grantee.
Exercise price: 11,951 won (premium on volume-weighted average price).
Vesting schedule: 50% after 2 years, 75% after 3 years, 100% after 4 years; exercise period from 2028.3.26 to 2033.3.26.
Settlement method: new shares or cash at company's discretion.
Fair value estimation: binomial model, expected exercise period 3-7 years, risk-free rate 3.53%-3.82%, expected volatility 19.53%.