YFH announces Yuanta Securities (Korea)'s receipt of court ruling of Anbang's recognition and enforcement application of the arbitral award

 YFH announces Yuanta Securities (Korea)'s
receipt of court ruling of Anbang's recognition and
enforcement application of the arbitral award

1.Parties to the legal matter:
Applicants:Anbang Group Holdings Co. Ltd. and
Anbang Life Insurance Co. Ltd. (currently Dajia Life Insurance Co. Ltd.)
(together, ��Anbang��)
Respondents:Yuanta Securities (Korea) and other 4 selling shareholders
of Tong Yang Life Insurance
2.Name of the court or punishing agency of the legal matter:
Seoul Central District Court
3.Reference/Case number of relevant documents of the legal matter:
2021KAGI449
4.Date of occurrence of the event:2021/12/17
5.Details of occurrence (including the matter under dispute):With respect
to Anbang's recognition and enforcement application of the arbitral
award issued by International Court of Arbitration of International
Chamber of Commerce against Yuanta Securities (Korea) and other 4 selling
shareholders, Yuanta Securities (Korea) received a ruling from Seoul
Central District Court today recognizing such arbitral award. Anbang is
entitled to file an enforcement for around KRW 131.8 billion based on its
application and subsequent interests payable.
6.Handling procedure:Yuanta Securities (Korea) received Seoul Central
District Court's ruling today recognizing such arbitration award.
7.Impact on the Company��s finance and business and projected amount:
Yuanta Securities (Korea) has, based on its pro rata amount of
consideration of the sale of Tong Yang Life Insurance's shares,
recognized relevant provision liabilities. Yuanta Securities (Korea)
will consult with attorneys and determine whether to adjust relevant
provision liabilities. However, the actual indemnification amount of
Yuanta Securities (Korea) will be subject to the amount Anbang applies
for enforcement and the progress of subsequent appeal procedures.
8.Countermeasures and improvement status:Yuanta Securities (Korea) will
file an appeal on December 18, 2021 and discuss other possible actions
and remedies with attorneys.
9.Any other matters that need to be specified:The result of arbitral award
has been announced by the Company on August 24, 2020.