Inswave announced on the 2nd that it has signed a single sales and supply contract with LG CNS for the 'Core Banking Modernization Web Terminal Conversion' project.

Through this contract, Inswave will commence the web terminal conversion project related to the modernization of core banking systems in the domestic financial sector. Inswave has a track record of executing similar contracts with LG CNS within the past three years. The main details of the contract, according to the regulatory filing, are as follows:

• Contract Amount: 9.875 billion KRW (9,875,000,000 KRW) ※ Excluding VAT • Proportion of Revenue: 25.35% compared to the most recent consolidated revenue (38.95802 billion KRW) for 2025 • Contract Period: From June 1, 2026, to December 31, 2027

Payment terms were specified as '100% balance payment upon final inspection completion.' However, the company added that it is currently in discussions with the client to modify the payment collection conditions, and will announce the changes through a revised regulatory filing once finalized in the future.