Oriental Life Insurance to Become Wholly Owned Subsidiary of Woori Financial via Stock Exchange – Opposition Only 0.6%, No Termination Ground

Oriental Life Insurance to become a wholly owned subsidiary of Woori Financial via comprehensive stock exchange.
Opposition period ended: only 4,396,004 shares (0.6%) opposed, well below the 20% threshold that could terminate the contract.
SEC: US ownership in Oriental Life (excluding Woori) is under 10%, so Form-CB will be filed instead of Form F-4.
Appraisal right price: 8,505 won per share (based on volume-weighted average price as of Apr 23, 2026).
Contract can be terminated by Oriental if total appraisal payment exceeds 200 billion won.
Exchange ratio based on Woori's exchange value of 34,589 won; total new shares to be issued: 8,696,875.
Existing treasury shares of Oriental will be cancelled; shares acquired via appraisal rights will receive Woori shares.
Future merger with ABL Life Insurance under review but not confirmed.
Oriental Life expected to be delisted after the exchange.

Filing: [Correction of Description] Report on Major Matters (Decision on Stock Exchange and Transfer)
Company: Tongyang Life Insurance (082640)
Submission: Tongyang Life Insurance Co., Ltd.
Receipt: 05-14-2026