Huons Announces the Company Absorption Merger with its Wholly-owned Subsidiary HuonsLifeSciences

- Strengthening pharmaceutical competitiveness… Enhancing expertise and efficiency -

- The Merger will take effect by the end of June -

Huons Group plans to unify its pharmaceutical capabilities under Huons.

Huons Co., Ltd. (CEO Song Soo-young), a pharmaceutical company under Huons Group, announced on the 22nd the decision on the small-scale merger by absorption of its wholly-owned subsidiary HuonsLifeSciences Co., Ltd.

Following the execution of merger agreement on April 23, completing necessary filings and procedures, the merger registration process will be completed this June.

This merger is a merger by absorption of Huons’ wholly-owned subsidiary, conducted as a small-scale merger without the issuance of new shares. As a non-capital increase merger, there will be no change in management or the largest shareholder upon completion of the merger.

The record date for the closure of register of shareholders is May 7, and the effective date of the merger is June 23. The merger registration process is scheduled to be finalized by the end of June.

Huons has decided on the merger to strengthen management efficiency by unifying managerial resources. In particular, Huons plans to restructure its business by merging the pharmaceutical operations, previously separated into Huons and HuonsBioPharma, into Huons. This decision is aimed at enhancing the competitiveness and expertise of the pharmaceutical business within the group and increasing management efficiency.

Through this merger, Huons plans to strengthen its overall pharmaceutical business, including Contract Manufacturing Organization (CMO) services based in HuonsLifeSciences’ Osong factory.

Huons CEO Song Soo-young said, “Through this absorption merger, we will combine the core competencies of both companies to further strengthen our pharmaceutical expertise. We expect to create synergies, including increased corporate value through management efficiency and earnings growth, as well as enhanced shareholder value.”