NPS Crosses 10% Ownership Threshold as New Major Shareholder — L&F

Summary

The National Pension Service (NPS) has filed an initial report disclosing a 10.02% stake in L&F, comprising 4,043,045 common shares as of May 6, 2026. This filing was triggered by NPS crossing the 5%/10% major shareholder threshold, requiring formal disclosure to regulators. During the reporting period, NPS net-acquired 35,205 shares (53,094 bought on-market at ₩202,178 and 17,889 sold at ₩201,783), pushing its holdings above the 10% level. As Korea's largest institutional investor, NPS's accumulation signals continued long-term confidence in L&F, a major cathode materials supplier, and the new major-shareholder status will subject future trades to stricter disclosure rules.

Historical Impact

10 past Insider Ownership Change · ≈ Form 4 events at L&F

Median +5d

-4.46%

Range

-11.47% to +13.30%

Positive outcomes

3/10

Filed	P₀	P₊₅	+5d
May 14, 2026	₩171,700	₩152,000	-11.47%
Apr 16, 2026	₩169,500	₩189,100	+11.56%

Full Translation

Report on Ownership Status of Specified Securities by Executives and Major Shareholders 6.1 L&F Co., Ltd. 2026-05-06 Report on Ownership Status of Specified Securities by Executives and Major Shareholders To: Securities and Futures Commission To: Korea Exchange Date of reporting obligation occurrence: May 6, 2026 Report preparation reference date: May 6, 2026 * The reporter hereby confirms that, as of the report preparation reference date, the ownership status of the reporter's specified securities has been accurately prepared in accordance with the relevant laws and preparation instructions, and that there are no false statements or omissions regarding material matters. Reporter: National Pension Service (NPS) 1. Information on the Issuing Company - Company name: L&F Co., Ltd. - Corporate classification: KOSPI-listed company - Company code: 066970 - Total issued shares: 40,365,803 2. Information on the Reporter - Report classification: New filing - Reporter category: Pension fund / Professional investor - Name (Korean): 국민연금공단 - Name (Chinese characters / English): 國民年金公團 (National Pension Service) - Date of birth or business registration number: 219-82-01593 - Address (head office, up to eup/myeon/dong level): 180 Giji-ro, Deokjin-gu, Jeonju-si, Jeollabuk-do Special Self-Governing Province (Manseong-dong) Relationship with the issuing company: - Executive (registered status): - - Position name: - - Appointment date: - - Retirement date: - - Major shareholder: 10% or greater shareholder Business contact and person in charge: - Affiliated company: National Pension Service - Department: Securities Asset Management Division - Position: Manager - Phone: 063-71****** - Name: Kim Hyun-seo - Fax: 063-90****** - Email: ******nps.or.kr 3. Ownership Status of Specified Securities A. Number and ownership ratio of specified securities held - Previous report: - / - / - / - - This report (May 6, 2026): Specified securities 4,043,045 shares (10.02%); Common stock 4,043,045 shares (10.02%) - Change: +4,043,045 shares (+10.02%); +4,043,045 shares (+10.02%) B. Ownership details by type of specified security - Common stock (A): 4,043,045 shares - Warrants (B): - - Convertible bonds (C): - - Bonds with warrants (D): - - Profit-participating bonds (E): - - Exchangeable bonds (F): - - Depositary receipts (G): - - Other (H): - - Total (I): 4,043,045 shares (10.02%) Total issued shares (J): 40,365,803 Number of non-stock specified securities (B+C+D+E+F+G+H=I): - Ownership ratio (%): 10.02 Ownership ratio of specified securities [(A+I) / (J+I−(F+G+H))] × 100: 10.02 Ownership ratio of common stock (A/J) × 100: 10.02 * For exchangeable bonds where the underlying is stock, and depositary receipts/derivative-linked securities where the underlying asset is stock, such instruments are excluded from the denominator when calculating ownership ratios. C. Detailed change history 1) Reason: New filing (+) | Change date: May 6, 2026 | Type: Common stock | Before: - | Change: 4,007,840 | After: 4,007,840 | Acquisition/disposal unit price (KRW): - | Note: Existing holdings 2) Reason: New major shareholder (+) | Change date: May 6, 2026 | Type: Common stock | Before: 4,007,840 | Change: +53,094 | After: 4,060,934 | Unit price (KRW): 202,178 | Note: On-market purchase (+), 10% or greater 3) Reason: On-market sale (−) | Change date: May 6, 2026 | Type: Common stock | Before: 4,060,934 | Change: -17,889 | After: 4,043,045 | Unit price (KRW): 201,783 | Note: - Total: 4,043,045 / 4,043,045 * For trades executed on the securities market, the contract settlement date is used. ** For non-equity securities, the figure represents the exercise (conversion/exchange) price of such security, or the trading unit price of the shares acquired/disposed through the exercise of rights; figures in parentheses denote the trading unit price of the relevant security.