Woori Technology will issue KRW 40 billion in zero-interest private convertible bonds (CB) to secure operating funds for its nuclear power and new business operations.

Woori Technology announced on the 5th that its board of directors decided to issue KRW 40 billion worth of unregistered, unguaranteed private convertible bonds (20th issuance). The stated interest rate and the maturity interest rate for this fundraising are both 0%. The payment date is August 13, 2026, and the maturity date is set for August 13, 2031.

The conversion and redemption conditions are as follows. The initial conversion price is KRW 10,717 per share, and the number of common shares issuable upon conversion is 3,732,387 shares, which represents 2.11% of the total issued shares. The conversion claim period runs from August 13, 2027, to July 13, 2031. The conversion price is subject to adjustment (refixing) in the event of a decline in the market price, with the lowest adjustment price set at KRW 8,574, or 80% of the initial conversion price.

In terms of options, bondholders may exercise their early redemption claim right (put option) every three months starting from August 13, 2028, which is two years after the issuance date. The company may exercise its put option (call option) on a monthly basis from August 13, 2027, to July 13, 2028, with the exercise limit set at 50% based on the subscriber's subscription amount. Additionally, third parties designated by the company may acquire up to 1,866,193 shares based on the initial conversion price, or up to 2,332,633 shares if refixing is applied.

The funds raised this time will be fully utilized as operating capital and will be concentrated on strengthening capabilities in nuclear power and new businesses. The specific allocation is as follows: • Shin-Hanul Units 3 & 4 MMIS materials and subcontracting costs: KRW 15 billion • Multi-purpose research reactor MMIS materials and subcontracting costs: KRW 8 billion • i-SMR development costs: KRW 7 billion • Comprehensive waste recycling business operating expenses: KRW 7 billion • Offshore wind power substructure installation vessel purchase funds: KRW 3 billion

Meanwhile, these convertible bonds will be issued through a private placement targeting multiple institutional investors, and the company will be exempt from filing a securities registration report under the private placement exemption requirements.