The Company is committed to conducting its business in accordance with the principles of good corporate governance, transparency, and accountability, while giving due consideration to the interests of all stakeholder groups. The Company also recognizes and respects the rights of shareholders as both investors and owners of the Company. Accordingly, in order to enhance long-term shareholder value, the Company has established dividend payment policies for the Company and its subsidiaries as follows:

Dividend Policy of the Company

The Company has a policy to pay dividends to shareholders at a rate of not less than 40 percent of net profit based on the Company’s separate financial statements, after deduction of corporate income tax and allocation of all required statutory and other reserves as prescribed by law and the Company’s Articles of Association for each year. However, the Company may consider paying dividends at a rate different from the stated policy, depending on necessity and other appropriate circumstances as deemed suitable by the Board of Directors, taking into account various factors primarily for the benefit of shareholders. Such factors include, but are not limited to, economic conditions, operating results, and the Company’s financial position, liquidity, cash flow, reserves for business operations, business expansion and future investments, reserves for debt repayment or working capital, as well as conditions and restrictions stipulated in loan agreements (if any). Annual dividend payments must be approved by the shareholders’ meeting, except for interim dividends. The Board of Directors may approve interim dividend payments from time to time if it considers that the Company has sufficient profits to do so. Any interim dividend payment shall be reported to the shareholders at the next shareholders’ meeting.

Dividend Policy of Subsidiaries

The consideration and approval of dividend payments by subsidiaries shall be subject to the authority of the boards of directors and shareholders’ meetings of the respective subsidiaries. Subsidiaries have a policy to pay dividends to shareholders at a rate of not less than 40 percent of net profit based on the subsidiaries’ separate financial statements, after deduction of corporate income tax and allocation of all required statutory and other reserves as prescribed by applicable laws and the articles of association of each subsidiary for each year. In determining dividend payments, subsidiaries shall take into consideration various factors in order to maximize benefits for shareholders, including economic conditions, operating results, and financial position, liquidity, cash flow, reserves for business operations, business expansion and future investments, reserves for debt repayment or working capital, as well as conditions and restrictions stipulated in loan agreements (if any).