Me2on Co., Ltd. announced a private placement of Series 2 Bearer-type Unsecured Privately Placed Convertible Bonds for the gross proceeds of KRW 18,000,000,000 on November 23, 2022. The transaction will include participation from other investors KB Securities Co., Ltd. for KRW 1,000,000,000, NH Investment & Securities Co., Ltd., Research Division for KRW 3,350,000,000, Samsung Securities Co., Ltd. for KRW 5,650,000,000, Kiwoom Securities Co., Ltd. for KRW 3,000,000,000, Shinhan Capital Co., Ltd. for KRW 2,000,000,000, K Clavis Mine YY Fund No. 1 for KRW 2,000,000,000 and Mirae Asset Securities Co.

Ltd. for KRW 1,000,000,000. The transaction has been approved by the board of directors of the company. The bonds bonds will not carry any coupon rate and will have a yield to maturity of 3% and will mature on November 25, 2027.

The bonds are 100% convertible into 3,840,409 shares at a fixed conversion price of KRW 4,687 per share from November 25, 2023 to October 25, 2027. The bonds are restricted to a period of one year from the date of issuance. The transaction is expected to close on November 25, 2022.