Chairman Kang Byung-joong donates Nexen Tire shares worth 100[amount hidden] hundred million won to Pusan National University

Kang Byung-joong, chairman of Nexen Group, will donate 1,445,087common shares of Nexen Tire (market value of 100[amount hidden] hundred million won) to the Pusan National University Development Foundation, Nexen Tire said in a filing. The key point from an investor perspective is that a change in the major shareholder’s stake will occur.

When the donation is completed, Kang Byung-joong’s stake in Nexen Tire will fall from 18.24[percentage hidden]% to 16.85[percentage hidden]%.

Nexen Tire said the donation procedure is scheduled to take place from 2026[year hidden] 8[month hidden] 10[day hidden] to 14[day hidden].

Chairman Kang said regarding the donation, "I am pleased to be able to help Pusan National University at a time when universities are pursuing mutually beneficial development together with local communities and businesses and, furthermore, playing an important role in balanced national development."

The company said that Chairman Kang began educational and scholarship projects after becoming chairman of the board of his hometown Jinju Ibseong Middle School in the mid-s1970and continued fostering and supporting talent through personal contributions and KNN, among others, for more than50years.

The disclosure was made on7and the company said that the Pusan National University Development Foundation would decide the specific uses of the funds and operating plans.

The company disclosed that the donation would be carried out in the form of a gift of shares personally held by him.