Kurly is conducting a public buyback of its own shares worth 15 billion won.

Kurly held a board meeting on the 27th and approved the agenda regarding the acquisition of its own shares. The number of shares to be purchased is a maximum of 1 million common shares, which accounts for about 2.4% of Kurly's total issued shares. The purchase price was set at 15,000 won per share, based on recent off-market transaction prices. The total purchase amount is 15 billion won.

Shareholders who hold Kurly stocks can apply for share transfer from the 11th of next month to May 7th. NH Investment & Securities will act as the broker for the applications and transaction contracts.

Kurly noted, "We are proceeding with the buyback of our own shares to stabilize stock prices in the off-market and enhance shareholder value."

Currently, very small amounts of Kurly shares are being traded in the off-market, and due to the market characteristics where supply and demand are not flowing smoothly, transactions that adequately reflect the company's essence are not occurring, indicating a need for supply and demand adjustments. There is also a purpose to provide exit opportunities for shareholders looking to liquidate.

Kim Jong-hoon, Chief Financial Officer (CFO) of Kurly, said, "We decided to buy back our own shares based on the cash generation ability proven by achieving a positive adjusted EBITDA last year, as well as to reward our shareholders and show confidence in Kurly's corporate value."

He added, "The buyback of our own shares will not affect cash flow or management strategy, and as of the end of last year, cash and cash equivalents were also at 223.7 billion won, ensuring sufficient investment capacity for future growth. This year, we are focusing on expanding the revenue growth rate with intensive investments bolstered by improved profitability."

Meanwhile, Kurly stated that this buyback is not directly related to the progress of its initial public offering (IPO). Kurly is closely monitoring market conditions related to the IPO initiative and plans to re-initiate it at a time when corporate value can be evaluated properly.