KT "Leap Beyond Telecom to AICT Company"... Introduction of Quarterly Dividends

Youngseop Kim Emphasizes Innovation at April 28 Shareholders' Meeting
Dividend per Share 1,960 KRW... Payment on April 26

Kim Young-seop, CEO of KT, stated, "For sustainable growth, we must go beyond the limitations of being a telecommunications company and take a step forward."

On the 28th, at the KT Annual General Meeting held at the KT Research and Development Center in Seocho-gu, Seoul, CEO Kim conveyed this message. He added, "A company without innovation does not grow, and a company that does not grow cannot bear many fruits. We will rapidly transform into an AICT company by adding IT and artificial intelligence (AI) to our existing telecommunications foundation and continue to grow."

At the shareholders' meeting, three agenda items were presented and approved as originally proposed: ▲Approval of the financial statements for the 42nd fiscal year ▲Partial amendment of the articles of incorporation ▲Approval of the limit on directors' remuneration.

Following the approval of the financial statements, the dividend per share was set at 1,960 KRW, to be paid on the 26th of next month. Including the 27.1 billion KRW worth of treasury stock acquisition and cancellation completed on the 25th, KT will return a total of 510.1 billion KRW to shareholders.

With the approval of the partial amendment to the articles of incorporation, quarterly dividends will be introduced starting in 2024, and the dividend procedure has been improved to allow the board of directors to resolve the record date for dividend payments. This improvement is expected to enhance investment stability by enabling investors to confirm KT's dividend size in advance and decide on their investments accordingly.

In his greeting on the day, CEO Kim also said, "(KT) has evolved one step further in terms of shareholder value," adding, "In the 'Medium-term Shareholder Return Policy' announced on October 17 last year, we introduced not only minimum cash dividends but also share repurchases and cancellations, and through today's shareholders' meeting, we intend to implement quarterly dividends."

CEO Kim defined the past year for KT as "a year of overcoming crisis." He evaluated, "We turned the management crisis into an opportunity, established an advanced governance structure, and demonstrated KT's resilience through stable business operations and solid performance."