G Enone Energy Co.,Ltd. announced a private placement of 2,894,356 common shares at the price of KRW 3,455 per share for gross proceeds of KRW 9,999,999,980, series 4 unregistered coupon unguaranteed private convertible bond for a gross proceeds of KRW 10,000,000,000; and series 5 unregistered coupon unguaranteed private convertible bond for a gross proceeds of KRW 15,000,000,000 for aggregate gross proceeds of KRW 34,999,999,980, on January 3, 2023. The transaction will include participation from returning investor N2Tech Co.,Ltd. and Lion International Co., Ltd. for 1,447,178 shares each; Four S Fund 2 for bonds and Persia Fund for KRW 10,000,000,000. The bonds have yield to maturity of 3% and a coupon rate of 3%. The bonds will mature on February 23, 2026. The bonds will be 100% converted into 2,380,952 common shares at a fixed conversion price of KRW 4,200 per share for an equity stake of 6.47%. The conversion period is from February 23, 2024 to January 23, 2026. The company will issue shares of par value of KRW 100 per share through third party allocation method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 36,776,835 shares to 39,671,191 shares. The transaction has been approved by board of directors of the company. The payment date for the transaction is February 23, 2023.

On the same date, the company will also issue a private placement of series 5 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 15,000,000,000. The transaction will include participation from DC Investment Co., Ltd. The series 5 bonds will have a coupon rate and yield to maturity rate of 3.1% and will be maturing on February 23, 2026. The bonds will be fully convertible into 3,571,428 common shares at an issue conversion price of KRW 4,200 between the period starting from February 23, 2024 and ending on January 23, 2026. The bonds will have a lock-up period of one year from the date of issuance. The transaction has been approved by board of directors of the company. The expected date of payment date for the transaction is February 23, 2023.