Green Cross Medical Science Corporation announced a private placement of series 4 non-guaranteed private placement convertible bonds for gross proceeds of KRW 30,000,000,000 on January 27, 2022. The transaction includes participation from Daishin Securities Co. Ltd., Investment Arm for KRW 20,000,000,000, JB Mezzanine New Technology Business Fund No.1 for KRW 5,000,000,000, NH Absolute Return General Private Equity Trust No.

1, NH Absolute Mezzanine General Private Equity Trust No. 2, NH Absolute KOSDAQ Venture Mezzanine Specialized Investment Private Equity Trust No. 1, NH Absolute KOSDAQ Venture Mezzanine Alpha General Private Equity Trust No.

1 for an aggregate of KRW 5,000,000,000. The bonds carry zero rate of interest and mature on February 4, 2027. The bonds shall be convertible into 4,543,389 common shares at conversion price of KRW 6,603 per share.

The conversion period will start from February 4, 2023 and ends on January 4, 2027. The transaction is expected to close on February 4, 2022. The transaction has been approved by the board of directors of the company.

The bonds are subject to a hold period of one year from issuance and are issued at par value.