Socar Corrects Stock Option Grant (Grantees Reduced to 23, Shares to 90,500)

Correction: Due to grantees leaving, number reduced from 28 to 23 and shares from 143,500 to 90,500
Exercise price: KRW 15,679 (premium based on weighted average closing prices before shareholder meeting)
Fair value: KRW 3,764 per share (binomial model, expected exercise period 3-7 years, risk-free rate 2.61%-2.84%, volatility 30.61%)
Exercise period: 2027-03-26 to 2032-03-26, with vesting: 50% after 2 years, 75% after 3, 100% after 4
Settlement: New shares or cash difference at company's discretion