Ssangyong Motor Company announced a private placement of series 120 unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 30,000,000,000 and series 119 unregistered coupon unguaranteed private convertible bond for the gross proceeds of KRW 73,500,000,000; for aggregate gross proceeds of KRW 103,500,000,000 on March 10, 2023. The transaction will include participation from 2018 QCP 13th Private Equity Fund Co., Ltd. for KRW 30,000,000,000 and Eugene Private Equity for KRW 73,500,000,000. The bonds carry a coupon rate of 0% and yield to maturity of 2% and will mature on March 24, 2028. The bonds are fully convertible into 5,952,380 common shares at a conversion price of KRW 5,040 per share from March 24, 2024 to February 24, 2028. The bonds have a holding period of 1 year. The transaction is expected to close on March 24, 2023.

For series 119 bonds - The bonds carry a coupon rate of 1% and yield to maturity of 2% and will mature on March 17, 2028. The bonds are fully convertible into 14,583,333 common shares at a conversion price of KRW 5,040 per share from March 17, 2024 to February 17, 2028. The bonds have a holding period of 1 year. The transaction is expected to close on March 17, 2023.

The company also announced a private placement of series 121 unsecured privately placed convertible bonds for gross proceeds of KRW 5,000,000,000. The transaction will include participation from new investor, Eugene Investment & Securities Co.,Ltd. The series 121 bonds will have a coupon rate of 1% and a yield to maturity rate of 2% maturing on March 24, 2028. The bonds will be fully convertible into 992,063 common shares of the company representing 0.53% of the total number of shares at a fixed conversion price of KRW 5,040 per share between the period starting from March 24, 2024 and ending on February 24, 2028. The bonds have a hold period of one year. The transaction has been approved by board of directors of the company. The expected date of payment is March 24, 2023.