17 billion won 3rd-party allotment, offering price 26,470 won (premium over current price)

Decision on third-party allotment capital increase to raise 17 billion won for operating funds including R&D
642,236 new shares at 26,470 won per share (0% discount), payment date 2026.08.21, listing expected 2026.09.11
Total shares after increase: 44,911,439, resulting in approximately 1.45% dilution
Allotted to largest shareholder Gem&Company (566,679 shares) and CEO Kim Ki-ho (75,557 shares), all subject to 1-year lock-up
Offering price of 26,470 won represents a premium of about 55% over current market price of 17,040 won, limiting dilution impact
Funds to be used for clinical trial R&D including progressive supranuclear palsy (PSP)

Filing: [Correction of Description] Report on Major Events (Decision on Paid-in Capital Increase)
Company: GemVax & KAEL (082270)
Submission: GemVax & KAEL Co.,Ltd.
Receipt: 05-22-2026