POSCO FUTURE M

- On 24th, new inside and outside directors were elected at the general meeting of shareholders and the board meeting

- CEO and President Eom Gi-chen : “OEMs have been flooding us with supply requests recently” ... “We will secure a competitive edge in manufacturing and double sales by 2027 to become one of the top 3 global secondary battery materials companies and contribute to the growth of the group”

- Heo Kyung-wook, former Vice Minister of Strategy and Finance, was newly elected as outside director and member of the audit committee

- Jung Dae-hyung, Head of Planning Support Division, was elected as inside director and Cheon Sung-rae, Head of Business Synergy Division, POSCO Holdings, as non-executive director

POSCO Future M held its 54th Ordinary General Meeting of Shareholders on the 24th and resolved major agenda items, including the election of inside and outside directors.

Eom Gi-chen, President of POSCO Future M, was elected as a new inside director at the general meeting of shareholders, and then elected as CEO at the board meeting that followed, while Jung Dae-hyung, head of the Planning Support Division, was also elected as an inside director.

“POSCO Future M is preparing to become a game changer in the secondary battery materials sector with the support of our employees and shareholders,” said CEO and President Eom Gi-chen at the board meeting held following the general meeting of shareholders. “Since the Trump administration, the decoupling of the battery supply chain from China has become a reality, and as the strength of POSCO Future M, which has a group-wide supply chain of raw materials such as lithium, nickel, and graphite, has been highlighted, OEMs are flooding us with supply requests.”

“We will take the chasm as an opportunity to improve the robustness of our facilities and increase productivity by 30%, and secure ‘super gap’ manufacturing competitiveness through process technology development,” he added. He also presented a goal to “more than double the sales of last year by 2027 and become a top 3 global secondary battery materials company and contribute to the growth of the group.”

At the general meeting of shareholders, Heo Kyung-wook, former Vice Minister of Strategy and Finance, was elected as a new outside director. Director Heo was also elected as a member of the Audit Committee in recognition of his expertise in the field, including his many years of experience in economics and finance and his certified financial analyst (CFA) qualification. Cheon Sung-rae, Head of Business Synergy Division, POSCO Holdings, was elected as a non-executive director.

The 54th general meeting of shareholders approved four items, including the appointment of inside and outside directors, the 54th financial statements, the appointment of members of the audit committee, and the remuneration limit for directors.

Meanwhile, POSCO Future M is preparing for the future growth period that will follow the current chasm by developing products that the market wants, including lithium iron phosphate (LFP) cathode materials and lithium manganese rich (LMR) cathode materials, which will lead the popularization of electric vehicles, Ultra Hi-Ni single crystal cathode materials with a nickel content of 95% or more to increase the driving range and stability of electric vehicles, low-expansion natural graphite anode materials and silicon anode materials that can significantly reduce the charging time of batteries and increase storage capacity.