A Message Regarding the Delay in the Audit Report

Hello,

We would like to explain the circumstances behind our audit report being submitted one day later than the scheduled submission deadline.

In accordance with Article 27(1) of the 'Enforcement Decree of the Act on External Audit of Stock Companies', the external auditor must submit the audit report on the financial statements to the company by March 23, 2022, one week before the regular general meeting of shareholders scheduled for March 31, 2022.

However, due to the incomplete internal deliberation process of the external auditor regarding the accounting treatment in the consolidated financial statements of convertible bonds with priority redemption issued by our subsidiary for the fiscal year 2021, the submission of the audit report was carried out on March 24, 2022, the day following the legal submission date.

Our company operates an appropriate internal control system for financial reporting and maintains a proper level of financial organization. Even though the financial statements reflect sufficient consultation with the external auditor during the audit process for major transactions, the submission of the audit report was inevitably delayed due to the delay in the auditor's internal deliberation process.

Regardless of the reasons, we apologize for any concern we may have caused our shareholders and promise to do our best to return better performance and business results in 2022.

Thank you.