POSCO Future M CEO Um Ki-chun and All Executives Purchase 5,153 Shares on Open Market

Active Participation in Rights Offering Despite New Share Issuance

On May 28, POSCO Future M announced through a disclosure on the Financial Supervisory Service's electronic disclosure system that all executives, including CEO Um Ki-chun, had purchased a total of 5,153 shares of the company on the open market.

POSCO Future M Gwangyang Cathode Material Plant Exterior. Photo by POSCO Future M

CEO Um purchased 700 shares, Chief Technology Officer Hong Youngjun bought 460 shares, Head of Business Planning Division Jung Daehyung acquired 500 shares, and Head of Energy Materials Division Yoon Taeil purchased 500 shares. In addition, Non-Executive Director Chun Seongrae (Head of Business Synergy Division at POSCO Holdings) also bought 500 shares. In total, 16 executives participated in the share purchase during the rights offering period.

This disclosure pertains to executives who purchased shares on the open market between May 21 and May 23. Executives who made purchases after May 23 will be disclosed next week.

Previously, POSCO Future M announced that newly appointed executives had purchased company shares in the first quarter. Currently, all executives collectively hold 10,738 shares, including 1,110 shares held by CEO Um.

On May 13, POSCO Future M resolved to issue new shares worth 1.1 trillion won. POSCO Holdings, the largest shareholder, decided to acquire 100% of its allotted new shares according to its 59.7% stake, contributing 525.6 billion won.

With the funds raised through this rights offering, POSCO Future M plans to complete investments in key domestic and overseas production bases, including the Canadian cathode material joint venture plant, the expansion of the Pohang and Gwangyang cathode material plants, and the construction of a new spherical graphite plant for anode materials, thereby enhancing its business competitiveness.

CEO Um stated, "Through this capital increase, we plan to complete investments in preparation for full-scale growth after the market demand recovers and to secure future competitiveness by improving our financial structure." He added, "We will maximize shareholder value by responding with an independent supply chain."