Company Credit Report

Our Ref. : 134249-365 Date of Report : April 15, 2021 Client’s Ref : 15334

HYUNDAI SUNGWOO SOLITE CO., LTD. 609, BONGEUNSA-RO, GANGNAM-GU, , KOREA TEL: 82-2-2189-0904 FAX: 82-2-2189-0930

EXECUTIVE SUMMARY INCORPORATION DATE : MAY 1, 2015 REGISTRATION NO. : 110111-5713973 LEGAL FORM : COMPANY LIMITED BY SHARES CHIEF EXECUTIVE : KIM, BYEONG-HO (PRESIDENT & CEO) STAFF STRENGTH : 471 PERSON(S) PAID-IN CAPITAL : KRW 17,385 MILLION BUSINESS LINE : MANUFACTURER TURNOVER : KRW 322,555 MILLION (AS OF DEC. 31, 2020) EQUITIES : KRW 199,928 MILLION (AS OF DEC. 31, 2020) PAYMENT : AVERAGE RECOMM. CREDIT RANGE : UP TO USD 8,000,000 MARKET CONDITION : COMPETITIVE FINANCIAL CONDITION : STABLE OPERATIONAL TREND : STEADY GENERAL REPUTATION : SATISFACTORY EXCHANGE RATE : KRW 1,116.19 = USD1 AS OF 2021-4-15

CREDIT RATING : CA3 (see below explanatory notes) RATING CREDIT RISK ASSESSMENT PROPOSED CREDIT LIMIT KEY (in concerned business field) CA1 Minimal Credit can proceed with favorable terms Large amount CA2 Low Credit can proceed promptly Fairly large amount CA3 Average Credit can proceed normally Moderate amount CA4 Above average Credit should proceed with monitor Small amount – periodical review CA5 Fairly High Credit should be extended under guarantee C.O.D. To small amount CA6 High Credit is not recommended C.O.D. NR Assessment not conducted Insufficient data available No recommendation

This rating serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) in our credit analysis are as follows:

Financial condition (40%) Ownership background (10%) Payment record (10%) Credit history (15%) Market trend (10%) Operational size (15%)

In case of unlimited companies, newly established companies, or lack of financial data, more weight is given to ‘Ownership background’ and ‘Payment record’ in our analysis.

Adopted abbreviations: ANS - amount not stated NS - not stated SC - subject company (the company inquired by you) NA - not available M - million KRW –South Korean Won

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited. HYUNDAI SUNGWOO SOLITE CO., LTD.

HISTORY

COMPANY PROFILE

Company Name (English): HYUNDAI SUNGWOO SOLITE CO., LTD Company Name (Korean): 현대성우쏠라이트(주) President & CEO Kim, Byeong-ho / Chae, Jeong-cheol Address 609, Bongeunsa-ro, Gangnam-gu, Seoul Tel: 82-2-2189-0904 FAX 82-2-2189-0930 NACE Code 2932 Staff Employed 471 Person(s)

STATUTORY INFORMATION

Legal Form Company limited by shares Date of Registration May 1, 2015 Stock Listing Unlisted (Audited) Par Value KRW 5,000 Number of Shares Issued 3,477,057 shares Paid-in Capital KRW 17,385 million Company Size Middle standing Corporate Reg. No. 110111-5713973 Business Reg. No. 741-88-00069

Head Office

Address 609, Bongeunsa-ro, Gangnam-gu, Seoul TEL 82-2-2189-0904 Location Commercial Area Land / Floor Space Land : 1,464 ㎡ Floor Space : 4,731 ㎡ Owner This building is owned by affiliated Co.

Factory

Address 1pilji, oe, 183-12, Yongmyeonggongdan-gil, Geoncheon-eup, Gyeongju- si, Gyeongsangbuk-do Location Factory Area Land / Floor Space Land : 60,340 ㎡ Floor Space : 37,367 ㎡ Owner This building is owned by the subject Infringement No Mortgaged or Not Yes

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 2 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

Domestic Branch

Address 19, Sanseong-ro, Buk-gu, Ulsan Location Other Area Land / Floor Space Land : 4,334 ㎡ Floor Space : 4,334 ㎡ Owner This building is owned by the other

WEB SITE

www.solite.co.kr The design is professional and the content is well organized. At present it is in English, Korea and other versions.

LITIGATION

N/A

OWNERSHIP/MANAGEMENT BACKGROUND

Major Shareholders (Unit: KRW thousand, as of May 20, 2020)

Name Reg. No. / Position No. of Amount Ratio Date of Birth Shares (%) HYUNDAI 110111-0529490 Affiliated 2,000,000 10,000,000 100.00 SUNGWOO Co. HOLDINGS CO., LTD.

Par Value (unit: KRW) 5,000 Number of Shares Issued 3,477,057 Paid-in Capital (unit: KRW million) 17,385

MANAGEMENT NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 3 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

President& CEO Name Kim, Byeong-ho Date of Birth Jan. 2, 1968 Standing Yes Nationality KOR Date of Inauguration Mar. 27, 2020 Work Experience 4 year(s) in this line of business Final Education Korea University Business Ability Above Average

President & CEO Private Residence Address Anam-ro 9-gil, Seongbuk-gu, Seoul Owner This building is owned by the president Infringement No

President& CEO Name Lee, Su-cheol Date of Birth May 6, 1964 Standing Yes Nationality KOR Date of Inauguration Jan. 1, 2021 Business Ability Above Average

President & CEO Private Residence Address Cheonma-ro 72beon-gil, Buk-gu, Pohang-si, Gyeongsangbuk-do Owner This building is owned by the president Infringement No

Position Name Date of Birth President & CEO Kim, Byeong-ho Jan. 2, 1968 President & CEO Lee, Su-cheol May 6, 1964 Director Park, Chan-bong Sep. 19, 1966 Auditor Park, Jae-seong Jan. 31, 1965

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 4 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

BUSINESS OPERATIONS

Line of Business Manufacture of other new parts and accessories for motor vehicles n.e.c.

Main Items Battery etc.

SIC Code 3714 Sales Ratio (%) 100

Recent Quarterly Sales (Unit: KRW million, %)

Year 2019 Year 2020 Quarter ly Item 1/4 2/4 3/4 4/4 1/4 2/4 3/4 4/4 Averag quarte quarter quarter quarter quarter quarter quarter quart e Sales 3,273r 2,714 2,540 2,619 3,238 1,769 841 686 er 2,210

Purchases 48,359 51,083 50,029 55,894 51,146 38,873 39,288 49,597 48,033

Purchases/ 1,477.45 1,882.16 1,969.01 2,133.50 1,579.18 2,197.28 4,666.44 7,220.49 2,890.69 Sales

Suppliers (Unit : KRW million, as of May 20, 2020) Company Name Business Reg. No. Amount Ratio(%) Others 82,381 30.24 KOOK JAE METALLIC 505-81-54000 44,706 16.42 Korea Zinc Company, Ltd. 211-81-11260 38,630 14.18 SAMJI METAL IND CO., LTD. 128-81-15891 35,566 13.06 DANSUK INDUSTRIAL CO., 133-81-22642 21,205 7.79 LTD. JOONG-IL METALS INC. 134-81-09754 17,859 6.56 HANMI INDUSTRY CO.,LTD. 505-81-39974 10,338 3.80 WHA CHANG CO., LTD. 606-81-42258 7,315 2.69

Customers (Unit : KRW million, as of May 20, 2020) Company Name Business Reg. No. Amount Ratio(%) Others 289,323 80.36 HYUNDAI MOTOR 620-85-00010 26,288 7.30 COMPANY HYUNDAI CORPORATION 101-81-16269 11,638 3.23 HYUNDAI SUNGWOO 731-88-00043 8,021 2.23 METAL CO., LTD MOTORS CORPORATION 119-81-02316 5,616 1.56 Co., Ltd. 106-81-97118 4,443 1.23 101-81-16406 4,323 1.20

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 5 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

ELPIS CORPORATION 107-86-02147 3,777 1.05

Terms of payment Terms of Purchase 30% in cash, 70% on 60 day(s) credit Terms of Sale 50% in cash, 50% on 60 day(s) credit

RELATED COMPANIES

Affiliated Companies

Company Name HYUNDAI SUNGWOO HOLDINGS CO., LTD. President & CEO Jung, Mong-yong Business Reg. No. 214-81-24269 Line of Business Activities of holding companies Share Ratio(%) 100

Financial Info Fiscal Year- Total Assets Paid-in Capital Sales Net Income (Unit : KRW end million) Dec. 31, 2017 324,309 30,000 41,423 36,555

Company Name HYUNDAI SUNGWOO CASTING CO.,LTD President & CEO Eom, Jun-seop Business Reg. No. 855-88-00091 Line of Business Manufacture of other new parts and accessories for motor vehicles n.e.c.

Financial Info Fiscal Year- Total Assets Paid-in Capital Sales Net Income (Unit : KRW end million) Dec. 31, 2018 142,232 10,000 227,561 6,075

Company Name HYUNDAI SUNGWOO ADVANCED MATERIALS CO., LTD. President & CEO Eom, Jun-seop Business Reg. No. 869-87-00230 Line of Business Manufacture of other new parts and accessories for motor vehicles n.e.c. Share Ratio(%) 100

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 6 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

FINANCIAL HIGHLIGHTS

Balance Sheet (Unit: KRW million)

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 7 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

Income Statement (Unit: KRW million)

Statements of Cost of Goods Manufactured (Unit: KRW million) NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 8 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

Statements of Appropriation of Retained Earnings (Unit : KRW million)

Remark Financial ratio and cash flows, etc. only for quarterly financial statements are not available since quarterly financial statements are not settled yet.

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 9 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

Cash Flow Analysis (Unit: KRW million)

Debt Analysis (Unit: KRW million, %)

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 10 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

Financial Ratio Analysis (Unit: %)

BANKING

MBACKGROain Bank: The Korea Development Bank UND

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 11 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.

HYUNDAI SUNGWOO SOLITE CO., LTD.

REMARKS

SC was established in 2015, taking into consideration of SC’s general performance, reputation as well as market conditions we would rate SC as an average credit risk company. It is considered a credit line up to USD 8,000,000 appears to be within SC’s capacities.

END OF THIS REPORT

NOTICE: We do not warrant the accuracy or completeness of this report or any of the information contained herein. We are not liable for any loss, damage or 12 injury caused by negligence or other act or failure of us in procuring, collecting, preparing or communicating any such information. Reliance on any information contained herein shall be solely at the user’s risks and shall constitute a waiver of any claim against and a release of us from any liability whatsoever. This report is furnished in strict confidence for your exclusive use for legitimate business purposes and for no other purpose. This report must not be communicated to the person or firm reported on or to any other party. In accepting this report you hereby agree to be responsible for and to indemnify us against any and all damages and loss arising from the report and/or breach of any of the above conditions. Any reproduction, replication or other use of this report without the expressed written consent of us is prohibited.