REG - Samsung Electronics - Transaction with Affiliate Company

Samsung Electronics CoAnnouncement

27/07/2023 08:15

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RNS Number : 3991H  Samsung Electronics Co. Ld  27 July 2023

Transaction with Affiliate Company

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on July 27,
2023, announced that its Board of Directors authorized the following
related-party transaction with an affiliated company.

 

Purchase of Mobile device insurance policy from Samsung Fire & Marine
Insurance

□ Major transaction terms

 Insurer                      Samsung Fire & Marine Insurance
 Application date             August 2023
 Type of insurance            Mobile device insurance
 Insurance premium            KRW 5.91 billion
 Insurance benefit            -
 Insurance coverage period    1 year from the application date
 Total insurance premium      KRW 5.91 billion
 Insurance coverage           Smartphone liability (for models designated by SEC)
 Method of insurance payment  Installments in accordance with the application date
 Interest rate (%)            -
 Purpose of transaction       To comprehensively insure against the risks and potential losses caused by
                              unpredictable accidents associated with SEC's mobile devices

Other information:

- The application date refers to the date on which the Company purchases a
mobile device insurance policy, and the Company plans to complete the purchase
in August 2023.

- The total amount for insurance premium is an estimate, and such amount may
change in relation to the number of smartphones sold.

- Number of Independent Directors present at the Board of Directors Meeting: 6
(100% attendance)

- Attendance of Audit Committee: Y

※ This disclosure is in accordance with the Korean Fair Trade Act, which
mandates that a company must

disclose financial and real estate transactions in the event the value of such
a transaction is greater or

equal to KRW 5 billion and the counterparty is a financial affiliate of the
party required to make the

disclosure.

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