Tranche Update on Keum Kang Steel Co., Ltd.'s Equity Buyback Plan announced on March 18, 2020.

KEUM KANG STEEL CO., LTD. is a Korea-based company primarily engaged in the provision of steel sheets and coils. The Company's product portfolio consists of cold-rolled steel sheets, pickling coils, molten galvanized steel sheets, galvanized steel sheets, electro-galvanized steel sheets, hot-rolled galvanized steel sheets and others. The Company's products are used in automobile, electronic appliances, civil engineering, construction and industrial machinery areas. The Company is also engaged in the provision of steel sheet cutting services and real estate rental services. In addition, the Company is involved in the liquid fertilizer business, collecting manure of livestock, and manufacturing of composts.