Jeju Beer Company, Limited announced a private placement to issue 9,442,871 shares at an issue price of KRW 1,059 per share for the gross proceeds of KRW 10,000,000,389, Series 11 Bearer-Type Non-Guaranteed Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000; Series 10 Bearer-Type Non-Guaranteed Private Placement Convertible Bonds for the gross proceeds of KRW 20,000,000,000; aggregate gross proceeds of KRW 50,000,000,389 on March 18, 2024. The transaction will include participation from new investor GY Fund for 9,442,871 shares. The transaction has been approved by the shareholders of the company and is expected to close on May 30, 2024. The securities are restricted to a hold period.

Series 11 bonds - The transaction will include participation from new investor Ildu Fund for KRW 20,000,000,000. The bonds are 100% convertible into 15,444,015 shares at a fixed conversion price of KRW 1,295 from July 30, 2025 to June 30, 2027. The bonds bear zero coupon rate and 3% maturity rate and matures on July 30, 2027. The transaction has been approved by the shareholders of the company and is expected to close on July 30, 2024. The securities are restricted to a hold period.

Series 10 bonds - The transaction will include participation from new investor Suong Fund for KRW 20,000,000,000. The bonds bear The bonds bear zero coupon rate and 3% maturity rate and matures on May 30, 2027. The bonds are 100% convertible into 15,444,015 shares at a fixed conversion price of KRW 1,295 from May 30, 2025 to April 30, 2027. The transaction has been approved by the shareholders of the company and is expected to close on May 30, 2024. The securities are restricted to a hold period.