■ Passed agendas including the appointment of Park Sang-kyu as an Inside Director, Baik Bok-hyeon and Lee Ji-eun as Independent Directors, the approval of financial statements

■ Hosted “Dialogue with Shareholders” to strengthen communication with shareholders as in last year

■ SK Innovation CEO Park Sang-kyu: “This is going to be a year of preparation for a new leap forward with comprehensive improvements in fundamentals”

On March 28, SK Innovation held the 17^th Annual General Meeting of Shareholders and Board of Directors (BOD) Meeting at SUPEX Hall in SK Seorin Building, Jongno-gu, Seoul, South Korea, with the appointment of SK Innovation CEO Park Sang-kyu as new Executive Director.

At the general meeting, the shareholders approved the following agenda items: the appointment of Park Sang-kyu as an Inside Director, Kang Dong-soo as an Inside Director, Jang Yong-ho as a Non-Executive Director, Lee Ji-eun as an Independent Director and Audit Committee Member, and Baek Bok-hyun as an Independent Director and a soon-to-be Audit Committee Member.

CEO Park Sang-kyu, based on his diverse business experience within SK Group, has been recognized for his contribution in strengthening the internal stability of business portfolio and achieving success within SK Innovation companies despite the uncertain business environment. CEO Park was appointed as the Executive Director in the BOD meeting right after the general meeting of shareholders.

Kang Dong-soo, Head of Strategy and Finance Division of SK Innovation, was acknowledged for his skills in strategies for improving the decision-making of the board, performance management, and his experience as well as capability to implement new businesses. Kang was appointed as an Inside Director of SK Innovation. Jang Yong-ho, CEO of SK Inc., is expected to provide insights into business management across the entire SK Innovation group as a business and strategy expert. Jang was appointed as a Non-Executive Director of the company.

Furthermore, with the expiration of the terms of Independent Directors Kim Jeong-kwan and Choi Woo-seok, SK Innovation appointed Baik Bok-hyeon, a professor of Business Administration at Seoul National University, and Lee Ji-eun, former CEO of Microsoft Korea, as new Independent Directors.

The following items were also passed as originally proposed: partial amendments to the articles that establish the dividend amount prior to setting the dividend date, approval of financial statements, amendment of executive severance pay provisions, and approval of the ceiling for director’s remuneration.

Following the annual general meeting, SK Innovation organized a “Dialogue with Shareholders” session for the second consecutive year to communicate with shareholders about management issues. Kang Dong-soo, Head of Strategy and Finance Division of SK Innovation and Choi Young-chan, Chief Administrative Officer (CAO) of SK On explained the 2024 strategic direction of SK Innovation and SK On. With a focus on efficiency, SK Innovation plans to restructure its overall strategic direction this year, aiming to establish a stable business framework and financial structure.

Park Sang-kyu, CEO of SK Innovation, stated, “This year, we will seek new opportunities through comprehensive improvements in fundamentals across all businesses to overcome the growing uncertainties in the external environment” and added, “Through this solid foundation building, this is going to be a year of preparation for a new leap forward.”

[Photo] SK Innovation CEO Park Sang-kyu delivers his greetings at the 17^th Annual General Meeting of Shareholders on March 28 at SUPEX Hall in SK Seorin Building, Jongno-gu, Seoul, South Korea