HLB Co., Ltd. announced a private placement to issue Series 38 Bearer-Type Non-Guaranteed Private Convertible Bonds for the gross proceeds of KRW 60,000,000,000 on March 4, 2024. The transaction will include participation from new investors Korea Investment & Securities Co., Ltd. (in the position of trustee of Fund 1) for KRW 1,000,000,000, Korea Investment & Securities Co., Ltd. (in the position of trustee of Fund 2) for KRW 3,000,000,000, Mirae Asset Securities Co., Ltd. for KRW 3,000,000,000, Porga New Technology Fund No. 35 for KRW 7,000,000,000, Wise Alliance Co., Ltd. for KRW 3,000,000,000, Dnsiholdings Co., Ltd. for KRW 2,000,000,000, J.ESTINA Co.,Ltd for KRW 1,500,000,000, SG Investment Advisory Co., Ltd. for KRW 1,000,000,000, JJ Asset Co., Ltd. for KRW 1,000,000,000, Nihonshu Korea Co.

Ltd for KRW 1,000,000,000, Capitalworks Investment Co.,Ltd. for KRW 500,000,000, Bok-deok Kim for KRW 9,000,000,000, Hee-jeong Shim for KRW 4,000,000,000, Inhong Go for KRW 2,000,000,000, Yein Kim for KRW 2,000,000,000, Yeji Kim for KRW 2,000,000,000, Byeong-sul Yu for KRW 1,100,000,000, Hyangsook Kang for KRW 1,000,000,000, Eunbi Go for KRW 1,000,000,000, Hyeon-woo Go for KRW 1,000,000,000, Jeonghee Kim for KRW 1,000,000,000. Jisub So for KRW 1,000,000,000, Byeong-seok Yang for KRW 1,000,000,000, Min-seon Lee for KRW 1,000,000,000, Jongseong Kim for KRW 800,000,000, Kihong Kim for KRW 700,000,000, Dong-hee Lee for KRW 700,000,000, Myeongjegeol for KRW 600,000,000, Seonhwa Kang for KRW 500,000,000, Ji-man Kang for KRW 500,000,000, Ki-moon Kim for KRW 500,000,000, Je-sang Kim for KRW 500,000,000, Joo-chan Park for KRW 500,000,000, Jeong-il Song for KRW 500,000,000, Kwangho Lee for KRW 500,000,000, Dongsoo Lee for KRW 500,000,000, Jinsuk Lee for KRW 500,000,000, Haengseon Lee for KRW 400,000,000, Ye-bae Kim for KRW 300,000,000, Eun-kyung Kim for KRW 300,000,000, Jeong-min Seo for KRW 200,000,000, Geun-young Jang for KRW 200,000,000 and Eun-young Jang 200,000,000. The bonds are 100% convertible into 753,106 shares at a fixed conversion price of KRW 79,670 from March 8, 2025 to February 8, 2027.

The bonds bear 1% interest rate and 4% maturity rate and matures on March 8, 2027. The transaction has been approved by the shareholders and is expected to close on March 8, 2024. .