Downward Adjustment of 4th Tranche Convertible Bond Conversion Price (1,740 → 1,218 won)… Potential Increase in Dilution Risk

Conversion price of 4th tranche CB adjusted downward from 1,740 won to 1,218 won due to market price decline, effective May 25, 2026
Post-adjustment convertible shares reduced to 2,444,400 from 17,110,804 after accounting for 10:1 stock consolidation
Lower conversion price increases potential dilution for existing shareholders
However, current stock price (945 won) is below the new conversion price (1,218 won), so immediate conversion unlikely
Stock consolidation (10:1) preceded this adjustment
[AI Comprehensive Analysis]This conversion price adjustment is a contractual measure due to stock price decline. While short-term impact is limited, it increases long-term dilution risk, warranting investor caution