B2En Co., Ltd. announced a private placement to issue Series 5 Bearer Interest Unsecured Private Placement Convertible Bonds for the gross proceeds of KRW 2,000,000,000 on January 15, 2024. The transaction will include participation from new investors NH Investment & Securities Co., Ltd. (Walnut KOSDAQ Venture General Private Equity Trust No. 1) for KRW 500,000,000, Mirae Asset Securities Co., Ltd. (in the position of trustee of D-Block KOSDAQ Venture General Private Equity Trust No.

1) for KRW 500,000,000, Korea Investment & Securities Co., Ltd. (in the position of trustee of TM KOSDAQ Venture General Private Securities Investment Trust No. 1) for KRW 500,000,000 and Korea Investment & Securities Co., Ltd. (in the position of trustee of Summit KOSDAQ Venture General Private Equity Trust No. 1) for KRW 500,000,000.

The transaction has been approved by the shareholders of the company and is expected to close on January 17, 2024. The bonds are 100% convertible into 952,380 shares at a fixed conversion price of KRW 2,100 from January 17, 2025 to December 17, 2026. The bonds bear 0% coupon rate and 3% maturity rate and matures on January 17, 2027 and is restricted to a hold period of 1 year.