Transactions with Affiliated Companies

Samsung Electronics Co. Ld

31 January 2024

 

Transaction with Affiliate Company

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on January 31, 2024, announced that its Board of Directors has authorized the following related-party transaction with an affiliated company.

Trademark License Agreement

-     Grant trademark license to Samsung Medison

□ Major Transaction Terms

Transaction Item	License fee for use of trademark
Transaction Date	February 1, 2021
Transaction Period	February 1, 2021-January 31, 2024
Transaction Value	KRW 6.6 billion (total transaction value: KRW 6.6 billion)
Contract Type	-
Other information	- The cumulative transaction value up to end-2022 was less than the threshold for Board approval of KRW 5 billion. However, when adding the total value for 2023, the cumulative value exceeds the threshold, necessitating Board approval to collect the trademark license fees. - The transaction date is the date the trade license agreement was made with  Samsung Medison. - The transaction value is an estimated cumulative amount for the transaction period (i.e., 3 years) and may change according to Samsung Medison's revenue. * The license fee is set at 0.5% of Samsung Medison's revenue (excluding  revenue not related to the use of trademark) and shall be paid  every year during the transaction period.

Other Information:

ž Number of Independent Directors Present at the BOD Meeting: 6/6

ž 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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