SKM · SK Telecom Co.,Ltd

SK Telecom Co., Ltd. (SK Telecom) completed a comprehensive share exchange with SK Broadband Co., Ltd. (SK Broadband) on May 29, 2026, making SK Broadband a wholly-owned subsidiary. The transaction was structured as a cash consideration exchange at Won 15,032 per common share of SK Broadband, with no new shares issued by SK Telecom. As a result, SK Telecom's total issued shares remained unchanged. The largest shareholder of SK Telecom, SK Inc., held 65,668,397 shares (30.57%) both before and after the exchange. SK Broadband's largest shareholder, SK Telecom, increased its ownership from 398,595,779 shares (99.24%) to 401,634,869 shares (100.00%). Appraisal rights were exercised by SK Broadband shareholders for 27,408 shares, resulting in a total payment of Won 411,997,056, which was funded from internal sources. All shares acquired through appraisal rights were cancelled. The exchange was carried out as a small-scale share exchange under Korean law, and no appraisal rights were granted to SK Telecom shareholders. No litigation affecting the validity of the exchange has been filed. The post-exchange financial position of SK Telecom reflects the acquisition of 3,039,090 SK Broadband shares at the cash consideration price, with total assets, liabilities, and equity remaining unchanged from the pre-exchange separate financial statements as of March 31, 2026. The transaction simplifies SK Telecom's corporate structure by fully integrating SK Broadband as a wholly-owned subsidiary.