KUKJEON PHARMACEUTICAL Co., Ltd announced a private placement of round 2 bearer non-guaranteed private convertible bonds with interest for the gross proceeds of KRW 65,000,000,000 on September 14, 2022. The transaction will include participation of KRW 3,000,000,000 from Kiwoom Securities Co., Ltd., KRW 3,000,000,000 from KB Securities Co., Ltd., KRW 2,000,000,000 from Mirae Asset Securities Co. Ltd., KRW 2,000,000,000 from Shinhan Investment Corp., KRW 1,000,000,000 from Mirae Asset Capital Co., Ltd, KRW 1,000,000,000 from Meritz Securities Co., Ltd., KRW 1,000,000,000 from Hanyang Securities Co.

Ltd., KRW 1,000,000,000 from EBEST Investment & Securities Co., Ltd.The bonds carry zero surface interest rate and interest rate to maturity. The bonds will mature on September 16, 2027. The bonds are convertible into 7,393,925 shares at a price of KRW 8,791 per share.

The bonds are convertible from September 16, 2023 to August 16, 2027. The transaction is expected to close on September 16, 2022. The bonds carry a hold period of one year from the date of issue.

The transaction has been approved by the board of directors of the company.