Notice of Small-Scale Merger : Electronic ANNOUNCEMENT

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Notice of Small-Scale Merger

2 Jan 2024

Notice of Small-Scale Merger

ASICLAND Co., Ltd. (hereinafter referred to as "the Company") entered into a merger agreement with TOPASIC Co., Ltd. (hereinafter referred to as "TOPASIC") on January 2, 2024, and hereby announces the merger in accordance with Article 527-3 of the Commercial Act as follows:

-Details-

Parties to the Merger:
- Surviving Company: ASICLAND Co., Ltd.
- Dissolved Company: TOPASIC Co., Ltd.
Merger Method:
- The Company will absorb TOPASIC, with the Company remaining as the surviving entity and TOPASIC being dissolved.
Merger Ratio:
- "ASICLAND: TOPASIC = 1:0" (The Company holds 100% of TOPASIC's issued shares, and the merger will proceed without issuing new shares.)
Merger Date:
- February 29, 2024
Merger Approval:
- This merger between the Company and TOPASIC is conducted by the resolution of the Board of Directors without the approval of the general meeting of shareholders in accordance with Article 527-3 of the Commercial Act.
Guidelines for Expressing Objection to the Small-Scale Merger:
- Procedure: Shareholders listed on the shareholders' register (including the actual shareholders' register) as of January 11, 2024, who oppose the board resolution of this merger, should complete the attached "Notice of Objection to Board Resolution" and submit it according to the method described in "Section C. Submission Method and Place."
- Submission Period: From January 11, 2024, to January 25, 2024
- Submission Method and Place:
  1. Registered Shareholders: Submit to the Company's Financial Management Team by January 25, 2024 (☎ 031-212-1990)
  2. Actual Shareholders: Submit to the brokerage firm by January 22, 2024 (confirm submission procedures with the brokerage firm)
- Right to Demand Stock Purchase: The right to demand stock purchase is not granted according to Article 527-3 of the Commercial Act.
- Requisite Objection: If shareholders holding 20% or more of the total issued shares notify in writing of their objection to this merger within two weeks from the date of this public notice, the small-scale merger approved by the Board of Directors cannot replace the approval of the general meeting of shareholders.

January 2, 2024

ASICLAND Co., Ltd.

60 Daehak-ro, 309, Rich Plaza 3, Yeongtong-gu, Suwon-si, Gyeonggi-do

CEO Jong-Min Lee

Notice for Creditors to Submit Objections Due to Merger Notice of Record Date for Shareholder Confirmation

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