Notice of New Share Issuance​

In accordance with Article 461 of the Commercial Act, at the board meeting held on December 14, 2022, it was resolved to issue new shares by transferring a portion of the reserve to capital, and this notice is hereby given.

- Details -

1. Type and Number of New Shares: Common Shares and Class 1 Redeemable Convertible Preferred Shares totaling 5,755,580 shares

2. Par Value of Shares: 500 KRW per share

3. Record Date for Allocation of New Shares: December 29, 2022

4. Method of Allocation of New Shares and Handling of Fractional Shares

As of the record date for new share allocation on December 29, 2022, new shares will be allocated to shareholders listed in the shareholder registry at a ratio of 10 new shares for each existing share owned. No fractional shares will occur.

5. Source of Funds for New Shares: Share Premium

6. Dividend Commencement Date for New Shares: January 1, 2022

December 14, 2022

UDMTEK Co., Ltd.

14th Floor, Suite 1405, 91, Changryong-daero 256beon-gil, Yeongtong-gu, Suwon-si, Gyeonggi-do (Iui-dong, ACE Gwanggyo Tower 2)

CEO Wang Ji Nam