Dongbang: 17.7% Sales Growth in Q1 2026 and Credit Rating Upgrade

Consolidated Q1 2026 sales of KRW 241,478 million, up 17.7% YoY, operating profit of KRW 6,535 million
Credit ratings upgraded: corporate bonds from BBB- to BBB, commercial paper from A3- to A3 (April and June 2025)
Consolidated debt ratio 259.43% (end of quarter), slightly up from 256.73% at year-end; separate debt ratio 240.80%
Ongoing long-term transportation contracts with HD Hyundai Heavy Industries (KRW 72 billion) and Coupang (KRW 120.1 billion)
Multiple pending lawsuits including claims from POSCO for damages (total claims approx. KRW 27.8 billion), outcome uncertain
Dividend policy target payout ratio of 5-10%; paid KRW 30 per share for FY2025
New subsidiary incorporated: Pohang Yeongilman Port Logistics Center Co., Ltd. (50% stake)