Sphere is participating in a paid-in capital increase of its wholly-owned Singaporean subsidiary, 'Sphere Nickel Cobalt Pte. Ltd.' (hereinafter referred to as SNC). This is aimed at securing funds for operations and payment guarantee fees related to the nickel smelter.

According to a disclosure by Sphere on the 26th, the company will acquire 10.46 million new shares issued by SNC for a total of KRW 16,163,880,000. The new share issue price is USD 1 per share, and the total amount was calculated by applying the first announced exchange rate of KRW 1,545.30 per USD by the Seoul Foreign Exchange Brokerage on the date of disclosure. The payment date is June 26, 2026. Following this investment, Sphere's ownership stake in SNC will remain at 100% (69.47 million shares held).

The total amount raised through this paid-in capital increase is USD 10,460,000, which is equivalent to 20.29% of Sphere's equity capital and 16.95% of its consolidated total assets as of the end of last year.

Sphere explained that it decided on this capital increase to secure subsequent operating funds, following SNC's recent acquisition of a 10% stake in 'Excelsior International Investment Pte. Ltd.' (EII), a company engaged in nickel smelter operations and alloy sales, and the completion of the remaining balance payment.