CANARIABIO M Inc. agreed to acquire a 40% stake in Sejong Medical Co., Ltd. (KOSDAQ : A258830) from Lee, Jae Chul for KRW 18 billion on July 15, 2022. CANARIABIO M Inc shall pay 10.1% of the consideration on July 15, 2022 and the remaining balance on September 16, 2022. CANARIABIO M Inc. agreed to acquire a 100% stake in Sejong Medical Co., Ltd.from Lee, Jae Chul for KRW 45 billion on August 26, 2022. As of August 26, 2022, the change contract will be signed on the balance of the contract on September 16, 2022. Under the terms of new contract, KRW 5 billion was paid as down payment and KRW 8.5 bollion was paid on September 28, 2022 and balance amount was paid at closing In case of payment and implementation, the largest shareholder of Sejong Medical Company will change, and management rights of Sejong Medical will be transferred through the general shareholders' meeting on September 19, 2022. The transaction is expected to close on August 29, 2022. As of September 16, 2022, CANARIABIO M Inc and Sejong Medical Co., Ltd. entered into a separate contract for change of management rights, If the balance of the 30-day contract is paid and executed, the largest shareholder of Sejong Medical Company will change, and management rights of Sejong Medical will be transferred through the general shareholders' meeting on October 4, 2022. The balance of payment price will now be paid on September 30, 2022.

CANARIABIO M Inc. completed the acquisition of Sejong Medical Co., Ltd. (KOSDAQ : A258830) from Lee, Jae Chul & others on September 30, 2022. Post completion, the largest shareholder of Sejong Medical Co., Ltd. is changed to the Company, and the management rights of Sejong Medical Co., Ltd. (currently listed on KOSDAQ) have been transferred to the company through the general shareholders' meeting on October 04, 2022.