SKC

● Holds the 53rd Annual General Meeting on the 26th... Launches new leadership to drive a swift turnaround.

●​ CEO Kim hosts a 'Shareholder Dialogue'... Communicates current management status and shares the future vision for new businesses.

●​ CFO Park Dong-joo appointed as an inside director, and Chairwoman Chae Eun-mi reappointed... Continuing to strengthen board functions based on expertise.

SKC officially launched its new leadership system by holding its 53rd Annual General Meeting and board of directors meeting at its headquarters in Jung-gu, Seoul, on the 26th, appointing President Kim Jong-woo as the new Chief Executive Officer (CEO).

CEO Kim Jong-woo has previously served as a strategy executive at SKC and as the head of its investment companies, possessing a profound understanding of the group's overall business operations and outstanding execution capabilities. Drawing on his accumulated experience, he is widely regarded as the ideal leader to strengthen the fundamentals of existing businesses and ensure the successful establishment of new future ventures, such as glass substrates.

Immediately following the general meeting, CEO Kim actively engaged with shareholders by directly hosting a shareholder dialogue session. During this event, he transparently shared the company's current management status and outlined three core missions for SKC's leap forward: "Stability, Recovery, and Growth."

In particular, he provided a detailed explanation of specific investment plans to secure future growth engines and measures to improve the company's financial structure. First, SKC will allocate approximately 590 billion won of the 1 trillion won secured through its rights issue to its core new business, glass substrates (Absolics). Around 470 billion won will be assigned to capital expenditures (CAPEX) and 120 billion won to operating expenses (OPEX) to accelerate commercial production at the Georgia plant in the U.S., foster collaboration with global partners (AMAT), and upgrade equipment.

The remaining 410 billion won will be utilized for debt repayment to proactively enhance financial soundness. By drastically lowering the debt-to-equity ratio from the current 233% to 142%, the company aims to raise expectations for credit rating improvements and firmly establish its capacity for high-quality financing and additional future investments.

Furthermore, a turnaround (recovery) roadmap for existing businesses was unveiled. The copper foil business plans to restore profitability through cost structure improvements centered on its Malaysian plant, while the semiconductor materials business aims to solidify its high-profitability trajectory by expanding its Vietnamese plant and increasing sales of high-value-added test sockets for HBM.

Additionally, at the general meeting, CFO Park Dong-joo—a financial expert with extensive experience in investment and portfolio planning at SK Inc., who was appointed as SKC's CFO late last year—was appointed as an inside director. Two independent directors whose terms were expiring were also reappointed, in recognition of their professional expertise and contributions to strengthening the board's capabilities.

Meanwhile, at the board of directors meeting held immediately after the general meeting, the current Chairwoman of the Board, independent director Chae Eun-mi, was reappointed to the position. Having served as the first Korean branch manager of FedEx Korea, a global express transportation company, Chairwoman Chae has contributed to strengthening the board's functions by providing expert advice and oversight on SKC's major decisions, grounded in her expertise in labor relations and global management experience. [End]