Korea Zinc: Court Dismisses the Second Injunction Filed by MBK

• The Seoul Central District Court dismissed the second injunction filed by MBK Partners and Young Poong to suspend the share buyback/tender offer by Korea Zinc Chairman Choi and his allies.

• As a result of the court dismissing the second injunction filed by MBK, the M&A fight for Korea Zinc is likely to continue until the AGM in March 2025.

• Depending upon Korea Zinc's tender offer subscription, there is a possibility of MBK buying more shares directly from the market if the subscription falls below the proposed amounts.