EcoPro BM announced in a regulatory filing on the 29th that it has been subjected to a non-institutional international arbitration claim by Canadian company Air Liquide Canada Inc., seeking approximately KRW 156.7 billion in damages.

Background of the Claim… Dispute Related to the 2022 'Notice to Proceed' Agreement

This international arbitration is a non-institutional arbitration taking place in Toronto, Canada, with Air Liquide Canada as the claimant. The dispute stems from allegations of breach of agreement and unlawful acts related to the 'Notice to Proceed' dated October 27, 2022.

Based on these grounds, Air Liquide Canada is claiming damages of more than CAD 143,998,488.70. In the event that the primary claim is not accepted, it has alternatively demanded a Termination Payment of USD 15 million. Interest on each amount and arbitration costs were also claimed.

Claim Amount of KRW 156.7 Billion… 7.7% of Equity Capital

As of the filing date, the claimed amount stands at KRW 156,710,675,282. This represents 7.7% of EcoPro BM's equity capital (KRW 2,022,696,507,241).

EcoPro BM calculated the Korean won amount by applying the foreign exchange broker rate as of June 26 (1 CAD = 1,088.28 KRW) to the claim amount denominated in Canadian dollars as stated in the amended arbitration claim. However, it added that the claim amount may fluctuate during the arbitration proceedings.

EcoPro BM States "No Obligation to Pay"… Retains Domestic and International Law Firms

EcoPro BM stated, "We have determined that we have no obligation to pay with respect to this arbitration claim," adding, "We have retained domestic and international law firms as our representatives and are responding accordingly."

Filing Background… Delayed Disclosure Due to Expanded Claim

This amended claim follows the amended arbitration claim submitted on June 27, 2026. In the initial arbitration claim filed on September 20, 2025, only a USD 15 million Termination Payment was sought, which did not meet the disclosure threshold. However, as the scope of the claim was expanded to include damages through the amended arbitration claim, this disclosure was made.