Heng Sheng Holding Group Limited announced a private placement to 2,747,252 common shares at an issue price of KRW 364 per share for the gross proceeds of KRW 999,999,728 and Series 2 Zero Coupon Non-Guaranteed Private Placement Convertible Bonds With Bearer Interest June 10, 2027 for the gross proceeds of KRW 1,000,000,000; aggregate gross proceeds of KRW 1,999,999,728 on June 10, 2024. The transaction will include participation from new investor Planet Association. The transaction has been approved by shareholders of the company and is expected to close on June 18, 2024.

Series 2 bonds- The transaction has been approved by shareholders of the company and is expected to close on June 11, 2024. The transaction will include participation from new investor Planet Association. The bonds bear zero coupon rate and 6% maturity rate and matures on June 11, 2027. The bonds are 100% convertible into 2,747,252 common shares at a fixed conversion price of KRW 364 from June 11, 2025 to May 10, 2027. The securities are restricted to a hold period.