Due to COVID Spread... POSCO Also Live Streams Annual General Meeting Online

Introduction of Two-Way Online Live Streaming to Prevent COVID Spread and Enhance Shareholder Convenience
Convenient Voting Possible Through Non-Face-to-Face Methods Such as Electronic Voting, Written Voting, and Proxy Voting

Choi Jung-woo, Chairman of POSCO

[Asia Economy Reporter Hwang Yoon-joo] POSCO is actively participating in preventing the spread of COVID-19 and, for the convenience of shareholders, will concurrently hold the 53rd Annual General Meeting of Shareholders scheduled for the 12th of next month online.

The online shareholders' meeting will be conducted with real-time online broadcasting and a method that allows two-way online communication. This measure is to maximize shareholder attendance convenience as the offline shareholders' meeting will be held with limited personnel at the POSCO Center in accordance with the government's social distancing guidelines.

Shareholders wishing to attend the online shareholders' meeting can fill out and submit an online application form on the POSCO website by 5 p.m. on the 11th of next month. Applications will be accepted from shareholders as of the end of last year, and after the shareholder verification process, an online attendance guide including access details will be provided via email.

Since exercising voting rights is not possible under current law during the online shareholders' meeting, shareholders need to exercise their voting rights in advance through non-face-to-face methods such as electronic voting, written voting, or proxy voting. Among these, the easiest way to exercise rights is electronic voting, and shareholders can exercise their voting rights via electronic voting on the Korea Securities Depository website from March 2 to 11.

POSCO announced on the 18th the concurrent holding of the online shareholders' meeting and is encouraging participation by including detailed information in the notice of convocation sent to shareholders by mail for the first time. The government recommends shareholders and employees of listed companies to exercise their voting rights non-face-to-face or indirectly, such as through electronic voting, rather than attending the meeting in person for convenience and health reasons.

At this shareholders' meeting, a total of six agenda items will be presented: approval of financial statements, amendments to the articles of incorporation, appointment of inside directors, appointment of outside directors, appointment of outside directors who will serve on the audit committee, and approval of the limit on directors' remuneration. The amendments to the articles of incorporation include restructuring the specialized committee under the board of directors to decide major ESG (Environmental, Social, and Governance) related policies at the highest decision-making body level. Additionally, in accordance with the revised Commercial Act, the separate election of outside directors who will serve as audit committee members is also presented as a separate agenda item.