INVESTMENT ADVISORY Our Philosophy INVESTMENT ADVISORY Our Mission

INVESTMENT & ADVISORY

Our Philosophy

INVESTMENT & ADVISORY Our Mission 1. Maximize return for our Limited Partners 2. Strategically support our portfolio companies for sustainable growth 3. Enhance investment productivity through innovative value creation 4. Attract top-notch investment talents equipped with seamless teamwork and professional expertise 5. Pursue “Win-Win” deals for all constituents involved 6. Undertake social responsibility for our community

INVESTMENT & ADVISORY Our Values Integrity Creativity Trust Respect Teamwork Candor Passion Social responsibility

INVESTMENT & ADVISORY Our Approach • Long-term health and sustainable growth • Strategic transformation • Value creation through innovation in operation and governance • Partnership with portfolio management team by aligning incentives • Collaboration with industry experts including our senior advisory board • Share rewards

Investment Focus

INVESTMENT & ADVISORY Our Investors • We manage private equity investment on behalf of sophisticated institutional investors and financial institutions in Korea. • Our limited partner base consists of leading banks, securities companies, public and private pension funds, and sovereign wealth funds. • Many limited partners have institutional working experiences with the members of SJL partners over 30 years.

INVESTMENT & ADVISORY Investment Standard Integrity Optimal governance and highest business ethics Sustainability Sustainable growth business model backed by leading market position and competitive edge Growth Upkeep of growth driver based on reinforcing competitiveness via globalization and innovation Value Creation Continuous value creation via management efficiency, productivity improvement, and innovation Exit Viable exit strategy backed by executable action plan and on-going performance monitoring

INVESTMENT & ADVISORY Investment Structure Partnership Investment I Strategic partnership with a market leading player I Governance enhancement, technology procurement and strengthening market position via overseas expansion Buyout & Joint Control I Joint control or buyout of corporates with strong growth potential I Return maximization through value creation and incentive alignment

INVESTMENT & ADVISORY Work Process Sale to a third party or joint-investor IPO EXIT Value creation program Investor reporting and communication POST DEAL MANAGEMENT Due diligence and negotiation PEF structuring and LP attraction EXECUTION & FUNDING Investment opportunity recognition Feasibility analysis ORIGINATION & EVALUATION

Our Team

Organization Structure INVESTMENT & ADVISORY Organization Function No. of personnel l 5 Investment Committee l Top decision making committee for investment l Comprised of SJL Senior Executives l Pursuit for unanimous decision Advisory Group l Senior advisory for management in general, investment, value creation and exit l Comprised of various industry experts and executives l Full time or project based l 5 HR Committee l Decision making committee on HR matters l Recruiting, promotion, compensation and termination l 3 IR Team l Regular and on-demand report and support towards LPs l 1 Administrations l GP operation l Accounting, legal&compliance and general administratien l 2

OUR TEAM Steve Suk Jung Lim CEO and Managing Partner Experience Steve leads and oversees key efforts including deal origination, investment and fundraising. He chairs the Investment Committee and Senior Advisory Board of SJL Partners. He has over 33 years of combined experience in private equity investments and investment banking. Prior to founding SJL Partners, he led CVC Capital Partners in Korea as a member of Asia Investment Committee, Asia Executive Committee and Asia Board, actively evaluated and oversaw investment opportunities in Korea and Asia Pacific region. Before CVC, as the longest-run country chief executive officer of Korea, he successfully built J. P. Morgan’s Korea investment banking franchise into the market leader across all sectors and products with over $56 billion of successfully closed M&A transactions, $92 billion of debt issuance, and $36 billion of equity and equity-linked offerings for over 20 years. Before that, he worked at Salomon Brothers Inc in New York, Tokyo and Seoul, where he originated and executed numerous M&A and capital markets transactions. He also worked at Kidder Peabody & Co in New York and Proctor & Gamble Company in Cincinnati, Ohio. Education Steve held Executive MBA (APC) from New York University and MBA from George Washington University. He received BA in Economics from Korea University.

OUR TEAM Ryan Tae Partner Experience Ryan is based in Seoul and conducts key roles in both fundraising and investments. He is a member of the Investment Committee of SJL Partners. Ryan has a 20 -year experience in private equity investment, venture capital and investment banking. Prior to joining SJL Partners, Ryan conducted a senior role in private equity investments at CVC Capital Partners. He originated and reviewed numerous opportunities including divestment of a hard-to-exit portfolio and completion of a new acquisition and developed investment strategies. Before CVC, he experienced in investment banking in Daiwa Securities, where he led a M&A practice in Korea and initiated a number of M&A and Equity Capital Market deals engaged by major corporations and financial sponsors in Korea and Japan. Before that, Ryan worked at Merrill Lynch Global Principal Investment, where he successfully completed multiple investments via CB, BW and equity in private and listed companies across Asia. Education Ryan held BA in International Economics from Seoul National University.

OUR TEAM Ki Chan Park Partner Experience K. C. is based in Seoul and conducts key roles in both fundraising and investments. He is a member of investment committee and has over 20 -year experience in investment banking. Prior to joining SJL Partners, K. C. started works at J. P. Morgan in 1997 as an analyst in the Investment Banking team and spent 20 years at the Investment Banking team of J. P. Morgan Korea office as a client coverage banker and head of M&A for Korea. Major clients he covered included Hyundai Motor Group, Hyundai Heavy Industries, Kumho Asiana Group, Lotte Group and CJ Group. He also had various Capital Markets transaction experiences by leading the IPOs’ of major Korean corporates including Hanwha Life, CJ Hellovision, Mando for Korea listing and Acushnet and Lotte Chemical Titan for NYSE and foreign listing venues. His Debt Capital Markets experiences include series of 144 A bond issuance by Hyundai Capital America, FRN/144 A bond issuance by KCC and many of LBO and acquisition financings during the M&A executions. Education K. C. held BA in International Economics from Seoul National University.

Relevant Credentials

Relevant Credentials 2017 Acquisition of LS Automotive and Copper Foil/FCCL business of LS Mtron KRW 1, 050 bn Sale of Minera Panama S. A. USD 635 mn Sale of Kideco USD 517 mn Sale of Kyungnam Energy KRW 500 bn Sale of 5. 8% Equity Stake in Daewoo E&C KRW 178 bn IPO in Malaysia Stock Exchange USD 878 mn

Relevant Credentials 2016 Minority Stake Acquisition of Hyundai Capital USD 1. 1 bn IPO in Korea Stock Exchange USD 2. 0 bn Merger of KB Financial Group and Hyundai Securities USD 1. 1 bn Dual-listed IPO in New York Stock Exchange and Tokyo Stock Exchange USD 1. 1 bn IPO in Korea Stock Exchange USD 790 mn IPO in New York Stock Exchange USD 378 mn Accelerated Placement of Korea Aerospace Industries USD 235 mn Dual-tranche 144 A/Reg S Senior Unsecured Offering USD 1. 0 bn

Relevant Credentials 2015 Investment into POSCO Engineering & Construction USD 1. 1 bn Sale of Taihan Electric Wire USD 249 mn Sale of Strategic Minority Stake in Hyundai Life USD 200 mn Accelerated Placement of Samsung Life Insurance USD 600 mn Dual-tranche SEC-registered Senior Bond Offering USD 3. 3 bn 10 -year SEC-registered Senior Unsecured Notes USD 750 mn 5 -year 144 A/Reg S Senior Unsecured Notes USD 600 mn 5 -year 144 A/Reg S Senior Unsecured Notes USD 500 mn

Relevant Credentials 2014 Sale of Samsung Techwin and Samsung General Chemicals USD 1. 7 bn Sale of Kyongnam Bank and Kwangju Bank USD 1. 7 bn Acquisition/merger of Hyosung’s PET business USD 485 mn Investment into Celltrion Healthcare USD 200 mn Acquisition of KFC USD 100 mn Sale of Winia. Mando USD 100 mn IPO in Korea Stock Exchange USD 1. 4 bn IPO in Korea Stock Exchange USD 1. 1 bn

Relevant Credentials 2013 Spin-off of NHN Entertainment USD 3. 9 bn Acquisition of Third Party Interests in Samsung Corning Precision Metals USD 2. 2 bn Sale of ING’s South Korea Insurance Operations USD 1. 7 bn Sale and Leaseback of 4 Homeplus Hypermarkets USD 594 mn Sale of Samsung Electronics’ Electrowetting Subsidiary Undisclosed Subordinated Capital Securities Offering KRW 1. 0 trn 3 -year and 5 -year Fixed Rate Notes USD 1. 0 bn Convertible Bond Offering USD 300 mn

Relevant Credentials 2012 Sale of STX OSV USD 600 mn Acquisition of Caldita and Barossa Gas Undisclosed IPO in Korea Stock Exchange USD 267 mn Placement of KCC Corporation Shares, USD 137 mn Accelerated Secondary placement of Hyundai Heavy Industries, USD 602 mn Samurai Bond Offering JPY 165 bn 5 -year Senior Bond Offering USD 1. 0 bn 30 -year Senior Bond Offering USD 750 mn 5 -year Senior Bond Offering USD 350 mn

Relevant Credentials 2011 Sale of Samsung Everland USD 677 mn Exchangeable Bond into SK Telecom ADRs JPY 25 bn Samurai Bond Offering JPY 50 bn Accelerated Secondary Placement of Hyundai Motor Company, USD 213 mn Accelerated Secondary Placement of Mando, USD 601 mn Convertible Bond Offering USD 150 mn Accelerated Secondary Placement for KDIC USD 140 mn 5. 5 -year 144 A/Reg S USD Bond Offering USD 700 mn Inaugural Global Bond Offering USD 500 mn

Relevant Credentials 2010 Sale of Kumho Life Insurance KRW 480 bn Sale of Ourgame Undisclosed IPO in Korea Stock Exchange USD 1. 55 bn IPO in Korea Stock Exchange USD 436 mn SEC-registered Senior Unsecured Notes USD 1. 0 bn SEC-registered 5. 5 -year Senior Unsecured Notes USD 900 mn Floating Rates Notes and Loan Facility USD 550 mn 5. 5 -year Senior Unsecured Notes USD 500 mn