Transaction with Affiliate Company

Samsung Electronics Co. Ld

31 July 2024

 

Transaction with Affiliate Company

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC" or the "Company"), on July 31, 2024, announced that its Board of Directors has authorized following transactions with following affiliated companies.

Purchase of Insurance Policy from Samsung Fire & Marine Insurance

□ Major transaction terms

Insurer	Samsung Fire & Marine Insurance Co., Ltd.
Application date	September 1, 2024
Type of insurance	Package insurance
Insurance premium	KRW 10.7 billion
Insurance coverage period	September 1, 2024-August 31, 2026 (24 months)
Insurance coverage	Buildings, machinery, etc., in SEC DX Division's various business and factory sites located in Korea
Method of insurance payment	Annual payment(2 years)
Purpose of transaction	To comprehensively insure against the risks and potential losses from property damage and injury to persons, as well as the suspension of operational activities, caused by fires, explosions, natural disasters, etc., at SEC DX Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting: 6 (100% attendance)

ž Attendance of Audit Committee: Y

□ Major transaction terms

Insurer	Samsung Fire & Marine Insurance Co., Ltd.
Application date	October 1, 2024
Type of insurance	Package insurance
Insurance premium	KRW 187.7 billion
Insurance coverage period	October 1, 2024-September 30, 2026 (24 months)
Insurance coverage	Buildings, machinery, etc., in SEC DS Division's various business and factory sites located in Korea
Method of insurance payment	Annual payment(2 years)
Purpose of transaction	To comprehensively insure against the risks and potential losses from property damage and injury to persons, as well as the suspension of operational activities, caused by fires, explosions, natural disasters, etc., at SEC DS Division's various business and factory sites in Korea.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting: 6 (100% attendance)

ž Attendance of Audit Committee: Y

 

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