L&F announced on the 17th that it has signed a midterm-to-long-term supply and purchase agreement for lithium iron phosphate (LFP) cathode materials worth 161.73 billion won with SK On and SK On's designated contractors.

The contract amount accounts for 7.51% of L&F's 2025 consolidated revenue of 2.15 trillion won (2,154,938,965,103 won). The contract period runs from September 17, 2026 to December 31, 2028, and the sales and supply regions cover all of SK On's domestic and overseas production subsidiaries and designated contractors. There is no contract deposit or advance payment.

■ Amount Subject to Change Depending on Exchange Rates and Sales Prices

This contract involves supplying LFP cathode materials over three years, with a total scale of 118.2 million USD. The won-denominated contract amount was calculated by applying the initial announced exchange rate of 1,368.30 won per USD as of September 17, 2026, and the final contract amount may change depending on future exchange rates. Product sales prices are linked to raw material price fluctuations and may vary according to major raw material prices. The contract amount was calculated by applying recent sales prices to the customers' minimum purchase obligation volumes over three years, and it may change depending on actual supply volumes and sales prices.

■ Includes Option to Extend by 3 Years Until 2031

The contract also includes an option to extend for an additional three years until December 31, 2031, subject to mutual agreement between the two companies. However, the contract amount and period stated in this disclosure do not include the extension option. The contracting party is L&F, and the contract was executed so that obligations may be fulfilled including through its subsidiaries.