AJUSTEEL Co.,Ltd announced a private placement of series 17 bearer-bearing interest-bearing mubosm private placement non-separable debentures with warrants for a gross proceeds of KRW 18,300,000,000 on April 5, 2024. The transaction will include participation from new investors Aone Prime KOSDAQ Venture General Private Investment Trust for KRW 1,600,000,000; A-One Stable Mezzanine General Private Securities Investment Trust for KRW 300,000,000; Aone Level Up Mezzanine General Private Securities Investment Trust for KRW 200,000,000; Aone Platinum KOSDAQ Venture General Private Investment Trust for KRW 700,000,000; A1 Mezzanine Multi General Private Investment Trust No. 2 for KRW 850,000,000; Aone Mezzanine Absolute KOSDAQ Venture General Private Investment Trust for KRW 850,000,000; Aone Balanced Mezzanine General Private Investment Trust for KRW 2,500,000,000; NH Absolute Return General Private Investment Trust No.

1 for KRW 2,000,000,000; C-Square Prestige General Private Securities Investment Trust No. 1 for KRW 2,000,000,000; C-Square Mezzanine Plus General Private Investment Trust No. 26 for KRW 1,000,000,000; Korea Value The One General Private Securities Investment Trust No.

1 for KRW 1,800,000,000; Atman KOSDAQ Venture General Private Investment Trust No. 5 for KRW 1,000,000,000; Synergy IB Director New Technology Fund 10 for KRW 700,000,000; Synergy Mezzanine Blind No. 10 New Technology Business Fund for KRW 300,000,000; Ace Susung New Technology Fund 17 for KRW 1,000,000,000; Sangsangin Investment & Securities Co.,Ltd. for KRW 1,000,000,000; Momens Solution Co.

Ltd for KRW 500,000,000. The bonds have a coupon interest rate of 1% and yield to maturity of 3%. The bonds will mature on April 9, 2029.

The bonds will be 100% converted into 2,789,208 common shares at a fixed conversion price of KRW 6,561 per share for an equity stake of 9.54%. The conversion period is from April 9, 2025 to March 9, 2029. The payment date of the transaction is April 9, 2024.

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.