Dreamus Company to Convene Extraordinary General Meeting on the 30th of Next Month... Promoting Shareholder-Friendly Policies

Transfer of Retained Earnings Proposed... 50 Billion KRW Scale
Enables Treasury Stock Buyback if Passed

Dreamus Company, an SK Square affiliate and operator of the music platform 'Flo,' will convene an extraordinary general meeting of shareholders on the 30th of next month.

Dreamus Company announced on the 21st that it plans to propose and resolve an agenda item at the extraordinary general meeting to transfer retained earnings through a reduction of capital reserves.

This agenda item, aimed at converting the company's financial structure into a distributable profit state by transferring retained earnings through a reduction of capital reserves, involves a total planned transfer amount of 50 billion KRW.

Currently, Dreamus Company's quarterly net assets for this year stand at 162.8 billion KRW, which is greater than the market capitalization of 125.9 billion KRW as of the day before the board meeting, and the price-to-book ratio (PBR) is 0.78 times.

Dreamus Company stated, "If this agenda item passes at the shareholders' meeting while distributable profits have not been generated under the Commercial Act, distributable profits will arise, enabling activities such as treasury stock purchases," adding, "We plan to review various measures related to shareholder-friendly policies in the future."