Flitto Retires All KRW 4 Billion Treasury Convertible Bonds

Flitto Expresses Maximization of Shareholder Value and Financial Confidence by Retiring All 4 Billion Won Worth of Convertible Bonds Flitto, an AI language data specialist company, announced on the 26th that it will retire all 4 billion won worth of self-held convertible bonds (CB) on the upcoming 30th. This is the remaining portion, excluding the 6 billion won that was converted into shares in January this year, out of the 10 billion won worth of CBs issued in November 2021. Flitto's strategy is to completely resolve overhang concerns regarding the potential release of sell-off volume and further enhance corporate value through this full retirement. This decision is interpreted as a move demonstrating Flitto's robust financial status and strong confidence in its future growth engines. This signifies that as a profit-generating company, it can sufficiently cover its operating and research and development (R&D) funds with its own profits. Last year, Flitto achieved its highest annual revenue since its establishment and successfully turned its operating profit to black, marking remarkable growth. Even in the first quarter of this year, it continued its profit trend, recording operating profit for three consecutive quarters, demonstrating profitability and growth potential rarely seen in the domestic AI industry. In addition, by signing large-scale language data supply contracts with global companies early this year, it is further strengthening its competitiveness in the global market. Yoon Min-yong, Flitto's Chief Financial Officer (CFO), stated, "Enhancing shareholder value from a mid-to-long-term perspective is the company's top priority," and emphasized, "This convertible bond retirement is a decision made on a solid profit basis, and is part of our efforts to secure a stable revenue structure and sustainable growth engines."