Appointment of Lee Won-duk as Non-Executive Director at Woori Financial Shareholders' Meeting

Amendment to Articles of Incorporation Specifying Record Date for Interim Dividends

[Asia Economy Reporter Sim Nayoung] Woori Financial Group held its 3rd regular general shareholders' meeting at its headquarters in Hoehyeon-dong, Jung-gu, Seoul, and announced on the 25th that all agenda items were resolved as originally proposed. Woori Financial Group has completed the composition of the board of directors that will lead the fully privatized Woori Financial, together with the two outside directors appointed at the extraordinary general meeting in January.

As a result of the shareholders' meeting held at the headquarters in Jung-gu, Seoul, Lee Won-duk, CEO of Woori Bank, was appointed as a non-executive director. Lee, who was the senior vice president of Woori Financial and an inside director, had to leave the board when moving to Woori Bank, but according to this decision, he will remain on the board. Going forward, he will be able to participate in management-related discussions across the group, solidifying his position as the second-in-command and expected to form a two-top system with Sohn Tae-seung, chairman of Woori Financial.

Song Soo-young, a legal and ESG (environment, social, and governance) expert, was appointed as a new outside director, becoming the first female director on Woori Financial Group's board. A foundation was also laid to strengthen shareholder-friendly policies. By amending the articles of incorporation to specify the record date related to interim dividends, market predictability regarding interim dividends was enhanced. The dividend per share for 2021, 900 KRW (including interim dividends), which was disclosed on the 9th of last month, was also confirmed on this day.

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