KKR to Sell KCF Technologies to SKC

Leading global investment firm KKR today announced that SK Group
affiliate SKC ("SKCa??) will acquire a 100% equity stake in KCF
Technologies ("KCFTa?? or the "Companya??) from KKR for KRW1.2 trillion
(US$1 billion).

KCFT is a global-leading producer of copper foils and flexible copper
clad laminates predominantly used in li-ion batteries for electric
vehicle applications. The Company a?? which is one of the latest examples
of a complex corporate carve-out by KKR a?? saw its capacity double during
KKRa??s investment period through the construction of new factories in
addition to expanding overseas into new markets. KKR further assisted
KCFT and its management team in setting up all core functions to operate
as an independent company, securing long-term supply contracts, and
making key senior appointments.

Chung Ho Park and Hyoung Seok Lim, Managing Directors at KKR Korea,
said, "We are proud to have worked with the management team and
employees of KCFT to meaningfully grow the business and solidify the
Companya??s technological leadership over the past several years. We
believe a partnership between the Company and SKC further positions KCFT
for even greater success in the future.a??

KKR made its investment in KCFT from its Asian Fund III. This
transaction is subject to customary regulatory consents and approvals.
Further details of the transaction are not disclosed.
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