TOPTEC Co., Ltd announced a private placement of series 4 bearer-bearing interest-bearing, unsecured privately placed convertible bonds for the gross proceeds of KRW 27,000,000,000 on October 31, 2023. The transaction will include participation from new investors Hyundai Motor Securities Future Growth No. 2 New Technology Business Fund for KRW 20,000,000,000; Timefolio KOSDAQ Venture TheSpecial Alternative Investment No.

3 General Private Investment Trust for KRW 900,000,000; Timefolio KOSDAQ Venture It's Time - Mezzanine T No. 2 General Private Investment Trust for KRW 1,100,000,000; Korea Investment Capital Timefolio New Technology Business Fund for KRW 3,000,000,000; and Hanyang Time Mezzanine New Technology Fund for KRW 2,000,000,000. The bonds have yield to maturity of 2%.

The bonds will mature on November 3, 2028. The bonds will be 100% converted into 3,430,749 common shares at a fixed conversion price of KRW 7,870 per share for an equity stake of 8.28%. The conversion period is from November 3, 2024 to October 3, 2028.

The payment date of the transaction is November 3, 2023. The securities issued in the transaction are subject to a lock up period of one year. The transaction has been approved by the board of directors of the company.