CJ Cheiljedang: Considering a Potential Sale of Its Bio Business

• CJ Cheiljedang announced that it is considering on potentially selling its bio business for about 5-6 trillion won which could be more than its market cap.

• CJ Cheiljedang's bio business is expected to have more than 4 trillion won in sales and about 700 billion won in EBITDA in 2024.

• We are positive on the company's efforts to sell its Bio Business and reinvest it in its food business.