POSCO Chairman's Third Term Reappointment Hurdle Raised... "Establishing Transparent Governance"

At Least Two-Thirds Approval Required at Shareholders' Meeting
Jang Inhwa: "Strengthening Fundamental Competitiveness"

POSCO Holdings held its regular general meeting of shareholders on the 20th at the POSCO Center in Gangnam-gu and approved agenda items including the 'Partial Amendment to the Articles of Incorporation' which raises the threshold for the chairman's reappointment (third term).

The 'Partial Amendment to the Articles of Incorporation' approved at the general meeting requires that if the chairman seeks a third term following reappointment, they must obtain approval from at least two-thirds of the shareholders at the general meeting. Previously, a simple majority of more than half was sufficient. POSCO Holdings explained, "To establish transparent governance, the amendment strengthens the qualification verification from the shareholders' perspective for reappointment after the chairman's first term and raises the approval criteria to reinforce the perception that the appointment is based on strong shareholder support."

POSCO Holdings Annual General Meeting. Provided by POSCO Holdings

At the general meeting, Lee Joo-tae, Head of the Future Strategy Headquarters, and Cheon Seong-rae, Head of the Business Synergy Headquarters, were appointed as new inside directors, and Kim Ki-soo, Head of the Future Technology Research Institute (Group CTO·Chief Technology Officer), was reappointed. Director Lee is a strategy expert who has served as head of POSCO America, head of the Management Strategy Office, head of the Purchasing and Investment Headquarters, and head of the Management Strategy Team at POSCO Holdings. Director Cheon has held positions such as head of POSCO Hot Rolled Wire Marketing Office, head of POSCO Maharashtra Corporation, and head of the Steel Team at POSCO Holdings. Director Kim has accumulated expertise in steel research and experience in new technology research such as process automation using artificial intelligence (AI).

Outside directors Son Seong-gyu, professor at Yonsei University Business School, and Yoo Jin-nyeong, CEO of Angel Six Plus, were reappointed. As outside directors serving on the Audit Committee, Professor Son Seong-gyu and Kim Jun-gi, professor at Yonsei University Law School, were appointed. The general meeting also passed a proposal allowing the board of directors to delegate the authority to issue bonds to the CEO. However, the CEO is required to report the results of bond issuance to the board.

Jang In-hwa, chairman of POSCO Holdings, stated, "This year, the global environment is expected to be challenging due to intensified tariff wars worsening export conditions and the weakening of the Korean won increasing cost burdens. We will focus all our capabilities on achieving steady profit generation for sustainable growth and building a long-term growth structure by strengthening the fundamental competitiveness of the steel and energy materials businesses." Chairman Jang added, "Regarding the restructuring that began last year, we will consistently continue it to generate cash and improve capital efficiency."