S Connect Co., LTD. announced a private placement of round 14 Kinds Non-guaranteed Private convertible bonds with Bearer Type Interest Part for gross proceeds of KRW 20,000,000,000 on May 20, 2022.The bonds will bear surface interest rate of 0% per annum and maturity rate of 1% per annum. The bonds will mature on May 27, 2027. The bonds are fully convertible into 14,695,077 common shares representing 18.15% stake at a fixed conversion price of KRW 1,361 per share from May 27, 2023, to April 27, 2027.

The date of subscription and expected date of payment is May 27, 2022. The transaction is approved by the board of directors of the company. The transaction include participation from fund 1 Paros KOSDAQ Venture Specialized Private Equity Investment Trust No.

2 for KRW 500,000,000, fund 2 Paros Pacific General Private Equity Trust No. 3 for KRW 500,000,000, fund 3Paros KOSDAQ Venture General Private Equity Investment Trust No. 3 for KRW 500,000,000, fund4 A- A-One Mezzanine Step-Up Private Equity Trust for KRW 200,000,000,fund 5 A- -One Master Mezzanine Private Equity Trust for KRW 400,000,000, fund 6A-One Trust Mezzanine General Private Equity Trust for KRW 400,000,000, fund-7 A-One Trust Mezzanine General Private Equity Trust for KRW 200,000,000,fund -8 A-One New Deal Mezzanine General Private Equity Trust for KRW 500,000,000 from NH Investment & Securities Co., Ltd, fund-9 A-One Grace Mezzanine Private Equity Trust , for 400,000,000 from KB Securities Co., Ltd, fund-10 A-One Bright Mezzanine General Private Equity Trust from KB Securities Co., Ltd for KRW 500,000,000, fund-11 C Square The banks 3 General Private Equity Securities Investment Trust form NH Investment & Securities Co., Ltd. for KRW 2,000,000,000, fund-12 Value Total RAPID General Private Equity Trust from Korea Investment & Securities Co., Ltd for KRW 500,000,000, fund-13 Value Total New Deal General Private Equity Trust No.

2 from Industrial Bank of Korea for KRW 500,000,000, fund-14 Suseong KOSDAQ Venture T3 General Private Equity Trust (Professional Investor), fund-15 Suseong The banks 3 General Private Equity Trust (Professional Investor), fund-16 GB Fortress-A General Private Equity Trust, fund -17 GB A Mezz-A General Private Equity Trust, fund -18GB A The banks3 General Private Equity Trust (Professional Investor), Shinhan Capital Co., Ltd. for KRW 1,000,000,000 and Hanwha Investment & Securities Co., Ltd for KRW 1,000,000,000.