Solux to list 786k new shares via CB conversion... remaining 214.8B won CB poses further dilution risk

Solux announced that on May 27-28, 2026, conversion rights were exercised on its 2nd and 3rd unsecured private CBs, resulting in 785,828 new shares (1.57% of total shares before conversion) to be listed.
Conversion prices are 4,516 won (2nd CB) and 3,087 won (3rd CB), both below the current market price of 5,520 won, encouraging conversion.
After this conversion, total shares increase from 50,186,861 to 50,972,689, diluting existing shareholders' value by approximately 1.57%.
The 3rd CB has a remaining balance of 21.48 billion won (approx. 6.96 million shares convertible), implying potential further dilution of about 13.7%, posing significant risk to shareholder value.
The 2nd CB has only 500 million won remaining (approx. 110,717 shares) after this conversion, limiting further dilution.
This disclosure is a routine report of conversion exercise, with no specific capital use or change in control indicated.