Largest Shareholder Lee Je-hoon Pledges 94.6% of Stake; Pledge Contract Amended and Extended

Largest shareholder Lee Je-hoon pledges 2,856,999 shares (94.6% of his 3,018,782 shares) under 5 pledge agreements.
If all pledges are enforced, his stake drops from 22.37% to 1.19%, risking loss of control.
Total debt amount: 4,980,864,012 KRW; total pledge amount: 8,447,720,120 KRW.
Amendment with Hanwha Investment Securities: pledged shares increased from 488,077 to 506,077, maturity extended to Aug 12, 2026.
Other creditors: Industrial Bank of Korea, Daishin Securities, KB Securities, Leadcorp (new 852,000 shares, 1.48 billion KRW).
Lee Je-hoon is CEO and largest shareholder; loan purpose is stock acquisition, etc.

Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder
Company: Pavonine (177830)
Submission: Pavonine Co., Ltd.
Receipt: 05-14-2026
Under KRX KOSDAQ Market Division