[Correction] Largest Shareholder Extends Pledge, Pledge Ratio 82.9% and Debtor's Deteriorating Finances

• Largest shareholder (Gem&Company) pledges 4,524,285 shares (82.9% of its 5,456,126 shares, 12.32% stake).
• Total borrowings: 45.65 billion KRW; total pledge amount: 71.78 billion KRW.
• Pledge contracts with SangSangIn Plus Savings Bank and SangSangIn Savings Bank extended by 3 months (expiry Aug 14, 2026).
• Debtor (Gem&Company) financials: assets 12.78B, liabilities 87.99B, equity -75.21B, net loss 13.62B (FY2025).
• Pledge enforcement triggers: default on principal debt or insufficient collateral.
• High pledge ratio and debtor's weak finances pose risk of forced sale and potential change in control.

Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder
Company: GemVax & KAEL (082270)
Submission: GemVax & KAEL Co.,Ltd.
Receipt: 05-14-2026
Under KRX KOSDAQ Market Division