(Samsung Biologics) 2022 1st Quarter Report

Quarterly Report
The 12th Accounting Period

From January 1, 2022
To March 31, 2022
※ Disclaimer
This document was disclosed voluntarily for foreign investors. The original Korean version of the
disclosure can be found on KIND(http://kind.krx.co.kr), DART(http://dart.fss.or.kr). If and when
there is any discrepancy between the English and Korean versions, the Korean text shall prevail.
Therefore, it is essential for the investors to consult the Korean text before making investment
decisions.
To. Financial Services Commission

Korea Exchange May 16, 2022
Type of Corporation Subject to Submit Stock-listed Corporation
Reason for Exemption Not applicable
Name of Company Samsung Biologics Co., Ltd.
CEO Rim John Chongbo
Place of Principal Office 300, Songdo Bio-daero, Yeonsu-gu, Incheon, Korea

(Songdo-dong, Samsung Biologics Co., Ltd.)
(Tel.) 82-032-455-3114
(Homepage) http://www.samsungbiologics.com
Principal Officer (Title) Director of Business Support Center

(Name) Kim Dongjoong
(Tel.) 82-032-455-3114
I. Company Overview
1. Company Overview
A. Consolidated subsidiaries overview(summary)
Number of consolidated subsidiaries Number of

Classification major
Beginning End subsidiaries
Increase Decrease
of period of period
Listed - - - - -
Unlisted 1 - - 1 -
Total 1 - - 1 -
※ For details, refer to XII. Table of Information – 1. Consolidated subsidiaries overview
B. Change of consolidated subsidiaries
Subsidiary Reason
- -
Newly consolidated
- -
- -
No longer consolidated
- -
C. Legal and commercial name

The Company’s name is ‘SAMSUNG BIOLOGICS CO., LTD.’
D. Establishment date
Samsung Biologics Co., Ltd. was established on April 22, 2011.
E. Address, telephone number, and homepage

Address of head office : 300, Songdo Bio-daero, Yeonsu-gu, Incheon, South Korea
(Songdo-dong, Samsung Biologics Co., Ltd.)
Telephone number : 82-032-455-3114
Homepage : www.samsungbiologics.com
F. Status of SME
Samsung Biologics Co., Ltd. (hereinafter, Samsung Biologics or the Company) does not fall within small
and medium enterprises (SMEs) in accordance with Article 2 of the Framework Act of Small and Medium
Enterprises and Article 3 of the Enforcement Decree of the Framework Act on Small and Medium
Enterprises as of the date when the report is submitted.
Small Enterprises Not Applicable

Venture company Not Applicable
Medium Enterprises Not Applicable
G. Main business
The Company consists of two business segments: CMO (Contract Manufacturing Organization)
business that provides domestic and international biopharmaceutical companies with manufacture of
high-tech drugs on a contract basis; and CDO (Contract Development Organization) business that
serves development of cell line and manufacturing process. In the current period, revenue generated
from sales of products and services accounts for 91.6% and 8.4% of the total revenue respectively. By
region, the Company’s has generated the total revenue from the following regions: Europe – 55.9%,
North America – 23.2%, Korea – 10.5%, and Others – 10.4%.
Refer to「II. Business Overview」for more details about the business.
H. Credit rating
Credit Rating Agency

Date Securities Ratings Note
(Rating Range)
6-1,6-2 Private Korea Investors Service
2020.02.07 - Periodic rating
non-guaranteed bond (AAA~D)
7-1,7-2 Public Korea Investors Service
2021.07.26 A+ Initial rating
7-1,7-2 Public Korea Investors Service
2021.08.05 A+ Initial rating
※ The credit rating for 6-1.6-2 private bonds is not provided under the non-disclosure agreement.
[Credit rating system]

- Korea Investors Service : Corporate Bond Ratings
Corporate bond rating scale is composed of 10 broad rating categories from AAA to D that indicate
different levels of likelihood of interest and principal payment as illustrated in the table below. Securities
rated between AAA to BBB indicate adequate (or stronger) capacity to meet financial commitments.
Securities rated between BB and C are judged to have speculative elements and are subject to
substantial credit risk.
Rating Definition
AAA An ‘AAA’ rating indicates the highest likelihood of interest and principal payment.
An ‘AA’ rating indicates very high likelihood of interest and principal payment. The likelihood may,
A
nevertheless, be slightly lower than is the case for the highest rating category (AAA).
An ‘A’ rating indicates high likelihood of interest and principal payment. The likelihood may,
B nevertheless, be more susceptible to changes in circumstances and in economic conditions than
is the case for higher rating category (AA).
A ‘BBB’ rating indicates moderate likelihood of interest and principal payment, but changes in
BBB circumstances and in economic conditions are more likely to impair this likelihood than is the case
for higher rating category (A).
A ‘BB’ rating indicates some uncertainty over the likelihood of interest and principal payment and
BB
speculative elements.
A ‘B’ rating indicates substantial uncertainty over the likelihood of interest and principal payment
B
and is considered more speculative than higher rating category (BB).
A ‘CCC’ rating indicates high risk of default and questionable likelihood of interest and principal
CCC
payment.
A ‘CC’ rating indicates very high risk of default and extremely low likelihood of interest and principal
CC
payment.
A ‘C’ rating indicates extremely high risk of default and lack of likelihood of interest and principal
C
payment.
D A ‘D’ rating indicates default.

※ '+' or '-' modifier can be attached to ratings through AA to B to differentiate ratings within broader rating categories.
- Korea Ratings : Rating of Bonds
Rating Definition
AAA Capacity for timely payment is extremely strong.
AA Capacity for timely payment is very strong, but somewhat less than 'AAA'
A Capacity for timely payment is strong, but somewhat susceptible to external changes in the future.
Capacity for timely payment is adequate, but more likely to be weakened by future market
BBB
changes.
BB Capacity for timely payment faces no immediate problems, but speculative in its future stability.
B Capacity for timely payment is poor and speculative.
CCC Contain the possibility of default.
CC Contain more possibility of default.
C Highly likely default.
D In default at the present time.

※ The ratings from 'AA' to 'B' may be modified by the addition of a plus(+) or minus(-) sign to show relative standing within the
major rating categories.
※ For preliminary rating, "P" is added in front of the relevant rating symbol.
※ For undisclosed grades, add "U" in front of the grade symbol.
I. Whether the Company is listed (or registered or designated) and matters related to special
listed companies
Listing Date listed Subject to regulations for
Special listed company
(or registered or designated) (or registered or designated) special exception companies
Stock market (KOSPI) 2016.11.10 Not applicable Not applicable

2. Company History
A. Company location changes
Changes in the place of principal office since the establishment of the Company are as follows :
Date Address Remarks
2011.04.22 104B, Pilot Plant, 7-50, Songdo-dong, Yeonsu-gu, Incheon, South Korea Establishment
3003, Songdo Technopark IT Center M, 172-1, Songdo-dong, Yeonsu-gu,

2012.01.26 -
Incheon, South Korea
2012.06.26 201-2, Songdo-dong, Yeonsu-gu, Incheon, South Korea -
Changed to
125, Cheomdan-daero, Yeonsu-gu, Incheon, South Korea road name-
2014.01.07
(Songdo-dong, Samsung Biologics Co., Ltd.) based
address
Changed to
300, Songdo Bio-daero, Yeonsu-gu, Incheon, South Korea road name-
2016.07.04
(Songdo-dong, Samsung Biologics Co., Ltd.) based
address
B. Important changes in management executives
(1) Change of Chief Executive Officer

- On December 16, 2020, John Rim was appointed as the Chief Executive Officer
※ On December 16, 2020, Executive director John Rim was appointed as the new Chief Executive
Officer and Kim Taehan resigned from his position of Chief Executive Director during the 10 th board of
director’s meeting.
Type of Appointment
Date shareholder Expiry or Dismissal
meeting Initial Extension
Executive director
Kim Dongjoong
Annual
Independent director Independent director Independent director
2019.03.22 General
Heo Geunnyeong Jeong Seokwoo Yoon Byungchul
Meeting
Independent director
Kwon Soonjo
Executive director
Annual John Rim Executive director
2020.03.20 General -
Independent director Kim Taehan
Meeting
Eunice Kim
Independent director Executive director Independent director

Annual Lee Changwoo Kim Dongjoong Jeong Seokwoo
2022.03.29 General
Meeting Independent director Independent director Independent director
Bahk Jaewan Heo Geunnyeong Kwon Soonjo
As of the reporting date, the Company's Board of Directors (BOD) consists of three Executive directors
(Kim Taehan, John Rim, and Kim Dongjoong) and four Independent directors (Heo Geunnyoung, Eunice
Kim, Lee Changwoo, and Bahk Jaewan).
C. Changes in the largest shareholder
Date Before After Remarks
Samsung Everland (Old) Cheil Industries The change of the largest

2014.07.04
Samsung Electronics Samsung Electronics shareholder’s name
Following the merger between

(Old) Cheil Industries and
(Old) Cheil Industries (Old) Samsung C&T Corporation,
2015.09.02 Samsung C&T Corporation
Samsung Electronics the company name of
(Old) Cheil Industries was changed to
Samsung C&T Corporation.
D. Company name changes

- Not applicable
E. Details and results in case the Company went through or currently goes through
compositions, reorganization proceedings, and other equivalents
- Not applicable
F. Mergers and Acquisitions
Biogen Therapeutics Inc. has a call option that allows it to purchase up to 50%-1 shares of Samsung
Bioepis under an agreement between shareholders on December 6, 2011.
On June 29, 2018, Biogen Therapeutics Inc. exercised the call option, and on November 7, 2018, the
transfer of shares and payments were completed.
Category Dates
Contract Between Shareholders 2011.12.06
Evaluation of external evaluation agencies 2018.06.22 ~ 2018.06.29
Key item report submission date 2018.06.29
Transfer of shares and payment date 2018.11.07
G. Important changes in the Company’s business

- Not applicable
H. Other important matters related to the management activities
Date Details
2011.04.22 Established Samsung Biologics Co., Ltd.
2011.04.28 Signed a lease agreement for the plant site in Songdo
2011.05.06 Started the construction of Songdo Plant 1
Date Details
2012.02.28 Established Samsung Bioepis Co., Ltd.
2013.07.18 Signed a contract with BMS regarding DS manufacturing
2013.10.18 Signed a contract with Roche regarding DS manufacturing
Signed a contract with BMS regarding DS manufacturing enhancement and
2014.04.16
DP manufacturing
2014.06.23 Established a joint venture, Archigen Biotech Ltd.
Changed the largest shareholder’s company name
2014.07.04
(Samsung Everland Inc. → Cheil Industries Inc.)
Changed the largest shareholders (Before: Samsung Electronics Co., Ltd. 46.79%, Cheil
Industries Inc. 46.79%, Samsung C&T Corporation 4.25%
2015.09.02
→ After: Samsung C&T Corporation 51.04%, Samsung Electronics Co., Ltd. 46.79%)
2015.11.30 Obtained an approval of Songdo Plant 1’s manufacturing license from FDA
(no observation)
2016.04.01 Signed a contract with Samsung Bioepis regarding biosimilar manufacturing

2016.05.03 Signed a contract with a US pharmaceutical company regarding DP manufacturing
2016.07.29 Obtained an approval of Songdo Plant 1’s manufacturing license from EMA
2016.11.10 Became listed on the KOSPI
2016.11.16 Signed a contract with Cilag regarding DS manufacturing
2017.01.24 Signed a contract with a Swiss pharmaceutical company regarding DS manufacturing
2017.07.04 Signed a contract with Sun Pharma regarding DS manufacturing
2017.07.20 Signed a contract with a Europe pharmaceutical company regarding DS manufacturing
2017.09.06 Signed LOI with Ichnos Science regarding DS manufacturing
2017.09.22 Obtained an approval of Songdo Plant 2’s manufacturing license from FDA
2017.11.08 Signed a contract with a US pharmaceutical company regarding DS manufacturing
2017.12.21 Obtained an approval of Songdo Plant 2’s manufacturing license from EMA
2017.12.21 Signed a contract with UCB regarding DS manufacturing
2018.02.01 Signed an additional contract with a Asia pharmaceutical company regarding DS manufacturing
2018.02.21 Signed a contract with an US pharmaceutical company regarding DS manufacturing
2018.04.30 Signed an additional contract with a Europe pharmaceutical company regarding DS manufacturing
2018.06.01 Signed a contract Ichnos Sciences S.A. regarding DS manufacturing
2018.06.29 Biogen’s execution of call option and Stock transfer decision
2018.08.14 Signed a contract with an Asia pharmaceutical company regarding DS manufacturing
2018.09.11 Signed a contract with Immunomedics, Inc. regarding DS manufacturing
2018.11.07 Transfer of 9,226,068 Samsung Bioepis’ shares to Biogen Therapeutics Inc.
2019.04.01 Signed a contract with Cytodyn Inc. regarding DS manufacturing
2019.05.17 Signed a contract with UCB regarding DS manufacturing
2019.11.05 Signed an additional contract with Ichnos Sciences S.A. regarding DS manufacturing
2019.12.03 Signed a contract with an US pharmaceutical company regarding DS manufacturing
2019.12.24 Signed a contract with a Swiss pharmaceutical company regarding DS manufacturing
Date Details
2020.01.29 Established Samsung Biologics America, Inc.
2020.04.23 Signed an additional contract with Immunomedics regarding DS manufacturing
2020.07.27 Signed a contract with Eli Lilly and Company regarding DS manufacturing
2020.08.05 Signed a contract with GlaxoSmithKline Trading Limited regarding DS manufacturing
2020.08.05 Launched the proprietary cell line technology, S-CHOice
2020.09.21 Signed a contract with AstraZeneca UK Ltd. regarding DS/DP manufacturing
2020.10.29 Established CDO R&D center in San Francisco, U.S.
2021.01.15 Signed a contract with Roche regarding DS manufacturing
2021.05.21 Signed a contract with Moderna regarding DP manufacturing
2021.06.11 Issued the first Sustainability report
2021.09.13 Participated in a FSS-led climate risk management model
2021.09.22 Launched the CDO-accelerating platform, S-Cellerate
2021.09.28 Signed an additional contract with Roche regarding DS manufacturing
2021.09.29 Signed LOI with MSD regarding DS manufacturing
Supplied its first batch of domestically produced Moderna COVID-19 mRNA for domestic
2021.10.28
use
Awarded ‘A’ rating in Comprehensive ESG Assessment for the first time as a
2021.11.01
biopharmaceutical company
2021.11.03 Signed a Land Purchase Agreement for Plant 5 in Songdo District 5
2021.11.13 Joined Dow Jones Sustainability Index (DJSI) for the first time as a Life Science company
Signed a contract with GreenLight Biosciences regarding DS manufacturing of mRNA
2021.11.25
vaccine candidate substances
2021.12.07 Obtained the international standard for a Quality Management System (ISO 9001)
Obtained a marketing authorization from the Ministry of Food and Drug Safety of Korea for
2021.12.14
Moderna’s COVID-19 vaccine
2022.01.28 Agreed to acquire Biogen’s stake in Samsung Bioepis
2022.03.28 Signed an additional contract with Eli Lily Kinsale Limited regarding DS manufacturing
2022.03.29 Agreed to a Land Purchase Agreement for Second Bio Campus in Songdo Disctrict 11
2022.03.29 Invested in Samsung Life Science Fund, U.S. Cell and Gene Therapy Developer
3. Changes in Paid-in Capital
Status of capital increase (decrease)

(Unit: KRW, share)
Type of 12th
Classification 11th 10th 9th 8th
share (1Q)
Number of
Issued 66,165,000 66,165,000 66,165,000 66,165,000 66,165,000
shares
Ordinary
share Par value
2,500 2,500 2,500 2,500 2,500
per share
Total equity 165,412,500,000 165,412,500,000 165,412,500,000 165,412,500,000 165,412,500,000
Number of
Issued -
shares
Preferred
share Par value
-
per share
Total equity -
Number of
Issued -
shares
Others Par value
-
per share
Total equity -
Total Total equity 165,412,500,000 165,412,500,000 165,412,500,000 165,412,500,000 165,412,500,000
4. Stock Information
A. Total number of shares

(As of March 31, 2022) (Unit: share)
Type of stocks
Classification Note
Common Preferred Total
Ⅰ. Authorized shares 500,000,000 - 500,000,000 -
Ⅱ. Issued shares (cumulative) 66,165,000 - 66,165,000 -
Ⅲ. Decrease in number of shares (cumulative) - - - -
1. Capital reduction - - - -
2. Cancellation - - - -
3. Redemption - - - -
4. Other - - - -
Ⅳ. Issued shares (Ⅱ-Ⅲ) 66,165,000 - 66,165,000 -

Ⅴ. Treasury shares - - - -
Ⅵ. Outstanding shares (Ⅳ-Ⅴ) 66,165,000 - 66,165,000 -
B. Treasury Shares
- Not applicable
C. Types of Registered Stock

- Not applicable
5. Articles of Incorporation
Amendment record
Date of change Meeting name Description Reason

Article 8 (Classes of Shares and Share Certificates)
Section 7 – Deleted
- Amendment/Deletion of relevant
Article 8-2 (Electronic registration on Rights to be
articles following the enactment
Indicated on Shares and Certificate of Preemptive
of the Act on Electronic
Right to new stocks)
Registration of Stocks, Bonds,
Section 3 – Introduced
etc.
Article 9 (Transfer agent) Section 3 – Amended
Article 10 (Shareholders’ Obligation to report on
- Reflection of flexible operation
th address, name and signet or signature) – Deleted
8 Annual scheme and exception regulation
2019.03.22 Article 17-2 (Electronic registration on Rights to be
General Meeting of BOD following the leave of
Indicated on Bonds and Certificate of Preemptive
CEO/Member of Audit committee
Right to new stocks) – Introduced
Article 18 (Applicable Provisions regarding Issuance
- Reflection of changes in rights to
of Bonds) – Post-amendment Review of Section
appoint an external auditor
Article 33 (Duties of Directors) Section 3 – Amended
following the amendment of the
Article 42 (Composition of Audit Committee)
Act on External Audit of Stock
Section 7 – Introduced
Companies
Article 43 (Duties, etc. of Audit Committee)
Section 6 – Amended
※ The latest date of change in the Company’s articles of incorporation is March 22, 2019.
No change was made at the Company’s 11th Annual General Meeting, held on March 29, 2022.
II. Business Overview
1. Business Overview
The Company is organized into two segments consisting of CMO and CDO businesses. The CMO
business provides clients with the service of manufacturing biopharmaceuticals, and the CDO business
offers a wide range of services including the development of cell line, manufacturing process,
characterization, and analysis method for pipelines ranging from cell line development to early-stage
clinical phase. The Company achieved annual sales of 1.568 trillion won in 2021, and sales of
biopharmaceuticals were 1.442 trillion won in product sales and 126 billion won in service revenue.
From the total sales of 511.3 billion won in the first quarter of 2022, sales of goods, etc. were 468.3
billion won, and service sales were 43 billion won.
The Company operates commercial manufacturing capacity of 360,000L (Plant 1 – 30,000L, Plant 2 –
150,000L, Plant 3 – 180,000L) and clinical manufacturing capacity of 4,000L in Incheon Free Economy
Zone (Songdo region). This is the largest manufacturing capacity in the global CMO industry . The
Company established an overseas subsidiary, Samsung Biologics America, Inc. in the United States to
secure stable sales growth and overseas expansion. In addition, the Company achieved a fruitful
performance in both CDO and Drug Product(DP) businesses, remarked by its DP production of
Moderna’s mRNA vaccine. Meanwhile, the company’s subsidiary, Samsung Bioepis is a
biopharmaceuticals Research & Development firm that is working on the development and
commercialization of biosimilars.
In 2022, the global biopharmaceutical market is valued at USD 360 billion, which accounts for 39.3%
of the entire pharmaceutical market. The biopharmaceutical market is expected to increase with an
average growth rate of 10.3% by 2026. The rapid growth is expected to boost the expansion of the
overall pharmaceutical market. In addition, the recent trend shows the greater reliance on CMO
companies by global pharmaceutical companies (Evaluate Pharma, Apr 2021, McKinsey report). The
CDMO industry is expected to increase from USD 14.3 billion in 2022 to USD 20.3 billion in 2026 with
an average growth rate of 10.1%, based on the following factors (Frost&Sullivan, Jul 2021).
The growth engines for biopharmaceutical market include:

1) Consistent development of blockbuster biopharmaceuticals
2) Increasing production outsourcing by pharmaceutical companies and biotechs
3) Increasing demand of end-to-end CDMO services
4) Increasing demand of dual sourcing for securing supply stability
The Company is a contract manufacturer specializing in mammalian cell-based antibody drugs, which
is a major component of the biopharmaceutical market. The market is oligopolistic, dominated by a few
players with large-scale manufacturing facilities. As of 2022, there are three companies with a global
production capacity of over 300,000L production: Korea-based Samsung Biologics, Switzerland-based
Lonza, and Germany-based Boehringer Ingelheim. The Company runs 364,000L production facilities
as of now and plans to concrete its leading position as it completes the construction of Plant 4 with
256,000L capacity by 2023.
The Company is currently widening the scope of business to CDO services, mRNA, and cell/gene
therapy manufacturing to transform into a global biopharmaceutical company. The CDO business
provides cell line and process development and characterization services for small and medium-size
biotechs, which do not have their own development facilities. The Company launched a high-performing
cell line ‘S-CHOice’, which delivers high productivity and viability, and ‘S-Cellerate’, which is a platform
that innovatively shortens the development period through a standardized process for each
development stage. Furthermore, the Company opened its first global CDO R&D center in the renowned
San Francisco Biopharma Cluster in October 2020 and currently plans to widen the scope of the market
to Boston, Europe, and China.
The Company has implemented mRNA production capacity within its existing manufacturing plant,
which is set to be cGMP ready by the 1H 2022. Additionally, the Company signed a land purchase
agreement for a new plant with production capacity for mRNA and cell/gene therapy products in
November 2021.
2. Key Products and Service
A. Major products
(Unit: KRW Bil)
Business 1Q 2022 2021 2020

Type Item
Unit Amount Share Amount Share Amount Share
Goods Biologics 4,683 91.6% 14,420 92.0% 11,026 94.7%
CDMO
Services Others 430 8.4% 1,260 8.0% 622 5.3%
Total 5,113 100.0% 15,680 100.0% 11,648 100.0%
※ Consolidated basis in accordance with K-IFRS.
B. Price fluctuation of major products
The selling prices of products manufactured or to be manufactured by the Company can be adjusted
according to contract conditions, for instance being adjusted by the ratio calculated by reflecting the
annually-announced CPI (Customer Price index) in the initially-determined selling price or being
increased at the fixed rate determined by a contract.
3. Raw Materials
A. Purchase of major raw materials

(Unit: KRW Bil)
Business Amount of Remarks
Type Item Ratio
Unit purchase (place of purchase)
Raw - Global Life Sciences Solutions Singapore, Life
Resin, etc. 897 67.8%
materials Technologies Corporation, Sigma-Aldrich Korea etc.
CDMO
Auxiliary
Filter, etc. 426 32.2% - Merck Limited, Pall Korea, Imarket Korea, etc.
materials
Total 1,323 100.0%
※ The CDMO business generally receives a full refund of raw/auxiliary materials and handling fees in form of BOM (Bill of
Material) from customers.
B. Raw materials price trends and major components
The major raw materials used in the pharmaceuticals are either confirmed by the customer for reasons
such as quality control or purchased through the vendor assigned by the customer. Pre- or post-
settlement (reimbursement) is made by the customer for the purchased raw materials and incidental
expenses. Due to these terms and conditions, the risks associated with the purchase of raw materials,
such as price fluctuations, are limited.
Meanwhile, the Company signs a long-term contract with raw material suppliers to obtain a stable
supply of raw materials, and applies the inflation rate (approx. 1~2%) level of raise to a price increase.
Therefore, risks relating to price fluctuation due to the limited contract terms.
C. Production capacity, production performance and operating rate
The Company calculates operating rate by separating actual working time from non-working time of key
production facilities, where the annual production capability is calculated by considering the Slowdown
and Product Changeover period per Drug Substance production plant.
(Unit: batch)
1Q 2022 2021 2020

Production capacity 81 455 392
Production performance 61 367 237
Operating rate 75.3% 80.7% 60.5%
D. Manufacturing facilities and investment
(1) Manufacturing facilities

(Unit: KRW Mil)
Other
Beginning End
Assets Acquisition Disposal Depreciation increase/ Remarks
of period of period
reduction
Land - - - - - - Note 1)
Building 719,023 - - -5,156 2,028 715,895 -
Fixtures 9,297 - - -67 - 9,230 -
Machinery 876,566 - - -30,278 6,920 853,208 -
Vehicles 163 - - -16 - 147 -
Others 18,655 1,095 - -2,175 909 18,484 -
Assets under
583,360 203,358 - - -9,771 776,947 -
construction
Total 2,207,064 204,453 - -37,692 86 2,373,911 -
Note 1) The Company is exempted from paying rental fees as the Company satisfied the requirements for rental fee exemption
in accordance with the Ordinance of Common Property Management of Incheon Metropolitan City by signing a lease
agreement with Incheon Metropolitan City.
※ Fair value is excluded as an objective estimation for major tangible assets is difficult.
(2) Investments
(Unit: KRW Bil)
Classification Investment Period Target assets 2021 Investment Amount Note
New, extended,
2022.01~2022.03 Manufacturing facilities, etc. 1,967 -
supplemented, etc.
4. Sales
A. Sales performance
(1) Sales performance by product type

(Unit: KRW Bil)
Business 1Q 2022 2021 2020

Type Item
Unit Amount Share Amount Share Amount Share
Goods Biologics 4,683 91.6% 14,420 92.0% 11,026 94.7%
CDMO
Services Others 430 8.4% 1,260 8.0% 622 5.3%
Total 5,113 100.0% 15,680 100.0% 11,648 100.0%
(2) Sales performance by location

(Unit: KRW Bil)
1Q 2022 2021 2020
Location
Amount Share Amount Share Amount Share
Korea 533 10.5% 3,463 22.1% 2,966 25.5%
Europe 2,860 55.9% 7,538 48.1% 5,275 45.3%
US 1,187 23.2% 4,486 28.6% 2,895 24.8%
Others 533 10.4% 193 1.2% 512 4.4%
Total 5,113 100.0% 15,680 100.0% 11,648 100.0%
B. Sales channel
The most important thing for the Company’s sales activities is to sign contracts with customers since
the CMO business in which the Company is engaged is a contract-based industry. It usually takes 6~12
months to win an order (from the date when a customer’s request for proposal was received until the
date when a contract is concluded), and is implemented as follows :
[Order-winning process]
Category Details
• Inspect the status of customers (organization, number of products,
Discover a
Contact the clinical test progress, capacity, etc.)
potential
customer • Contact a customer when participating in exhibitions and introduce
customer
CMO services
Request for Meeting of • Email, telephone, visit and meeting, etc.
the persons in charge • Take the minutes of a meeting
customer’s Check the volume • Sign a confidential agreement, provide corporate profile data (incl.
CMO(RFP) to order capacity), attract to visit the Songdo site
• Review related divisions of each field
• Financial risk: review differentiated batch prices
Review risks
• Legal risk: existing products ordered, noncompetitive review with
Samsung Biologics’ products
Submit a
• Suggest contract terms in which the customer’s conditions for
proposal
manufacturing process are reflected
Review terms and
• Consider conditions including contract period, time available to
conditions
manufacture, price, scope of services, minimum volume
guaranteed, capacity reserve, etc.
Select candidate
• A customer selects 2~3 candidate CMOs
CMOs
Select a CMO
Select a preferred
• A customer selects a preferred CMO through final evaluation
CMO
• Review related divisions of each field
• Financial risk: minimum volume guaranteed/reserve volume,
Review risks
service sales item, etc.
• Legal risk: liability scope, noncompetitive clauses, etc.
Consult on
Consult on basic • Negotiate on and adjust major conditions
contract terms
contract terms • Prepare MOU and LOI
Consult on
detailed contract • Consult on conditions for master service agreement
terms
Exchange a final
Win a contract • Develop a final contract
contract
Following these procedures, the Company recognizes sales at the point of quality release (QR) by the
customer for the products manufactured, and delivers the customer’s inventory stored in the Company’s
warehouse to a location designated by the customer (generally a customer’s carrier) in accordance with
the contract. Meanwhile, the Company does not have separate sales channels or agencies.
C. Sales method and conditions
The sales method and conditions for biopharmaceutical manufactured by the Company are separately
determined by a contract with the customer. According to the contract, annual minimum volume of
production is determined, and the volume requested for PO by the customer is manufactured and
delivered to the designated location. Sales recognition and billing are implemented at the time when
the customer’s quality approval is obtained for the products manufactured, and the payment is collected
within 30~60 days after billing.
D. Sales strategy
The Company provides company information such as cutting-edge manufacturing facilities,

technological competence, and excellent manpower through various methods including homepage,
advertisements, press releases, overseas exhibitions/conferences, company presentations, and virtual
due diligence and exhibition hall while striving to raise its profile worldwide as a bio-company of
Samsung Group. Based on these efforts, the Company has participated every year in the BioPhorum,
a conference of executives from global biopharmaceutical manufacturers, since joining in 2012.
The Company will make new contracts and expand existing contracts by constantly communicating
about the Company’s production capacity, facility expansion progress, and future plans and by
maintaining relationships with existing/potential customers. The Company also leads strategic sales
activities by actively participating in various inner circle meetings to identify demand for
biopharmaceutical production and competitors’ production plans.
In addition, we are expanding our customers from large pharmaceutical companies to small and
medium-sized biotech companies, and to increase orders, we continue to strengthen our marketing
capabilities and expand our global network. Besides, we are enhancing our potential customers'
confidence in our production and quality control capabilities through thorough track record management.
E. Sales condition
Initial commercial Total amount Delivered Order

Item Deadline Case
production year of contracts amount backlog
Amount
7,758 3,429 4,329
Minimum Take (USD Mil)
or Pay Production
~2031 33,622,000 15,172,000 18,450,000
Antibody (Liter)
2015 *Subject to
drugs each contract Amount
Expected demand 12,176 3,429 8,747
(USD Mil)
when the customers
develop the productsProduction
50,407,000 15,172,000 35,235,000
(Liter)
Note 1) Total contract amounts may also increase after the consultation depending on the increase in customers’ demands.
Note 2) Total contract amounts above exclude raw material revenue from raw materials and supplies that have been put into
production and service revenue from production process improvements and additional services such as quality analysis.
5. Financial Risk Management
A. Financial Risk Management
The Company’s risk management policies are established to identify and analyze the risks faced by the
Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk
management policies and systems are reviewed regularly to reflect changes in market conditions and
the Company’s activities. The Company, through its training and management standards and
procedures, aims to maintain a disciplined and constructive control environment in which all employees
understand their roles and obligations. The Board of Directors oversees how management monitors
compliance with the Company’s risk management policies and procedures and reviews the adequacy
of the risk management framework in relation to the risks faced by the Company.
B. Credit Risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial
instrument fails to meet its contractual obligations and arises principally from the Company’s receivables
from customers. The carrying amount of financial assets represents the maximum credit exposure. The
maximum exposures to credit risk at the end of 1Q 2022 and 2021 are as follows:
(Unit: KRW Thousand)
Description End of 1Q 2022 End of 2021
Cash and cash equivalents(*) 381,866,953 47,410,384
Short-term financial instruments 426,324,000 450,000,000

Financial assets at fair value
450,017,884 850,039,877
through profit or loss
Long-term financial instruments 193,386 189,491
Accounts receivable and other receivables 279,076,882 354,616,237
Derivative assets 7,055,818 4,091,971
Guarantee deposits 45,893,773 46,812,354
Total 1,590,428,696 1,753,160,314

(*) The cash amount held by the Company is excluded.
C. Liquidity Risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated
with its financial liabilities which are settled by delivering cash or other financial assets. The Company’s
approach to managing liquidity is to ensure, as much as possible, that it will always have sufficient
liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without
incurring unacceptable losses or risking damage to the Company’s reputation.The ultimate
responsibility for liquidity risk management remains with the Board of Directors, which establishes
fundamental policies to adequately manage short-term, medium- and long-term financing and liquidity
management regulations. To maintain adequate liquidity, the Company manages liquidity risk by
periodically forecasting and adjusting its capital balance.
Contractual maturity dates of financial liabilities as of the 1Q 2022 and 2021 are as follows. The amount
includes interest paid and excludes the impact of netting agreements. The Company does not anticipate
that the cash flow included in the maturity analysis could occur significantly earlier or at different
amounts.
(1) End of 1Q 2022

Contractual More than
Description Book Value In 1 year 1-2 years 2~3 years
Cash Flow 3 years
Accounts payable and
234,280,439 234,280,439 232,956,191 1,324,248 - -
other payables
Lease liabilities 16,717,850 17,622,549 7,705,174 5,067,964 4,364,693 484,718
Bonds 538,691,065 570,661,921 11,239,000 49,957,630 385,707,239 123,758,052
Short-term borrowings 50,000,000 50,562,192 50,562,192 - - -
Long-term borrowings 687,756,000 712,153,620 124,278,615 435,143,334 152,731,671 -
Total 1,527,445,354 1,585,280,721 426,741,172 491,493,176 542,803,603 124,242,770
(2) End of 2021

Contractual More than
Description Book Value In 1 year 1-2 years 2~3 years
Cash Flow 3 years
Accounts payable and
345,578,834 345,578,834 342,930,338 2,648,496 - -
other payables
Lease liabilities 18,208,298 19,043,888 7,699,851 5,212,986 5,329,081 801,970
Bonds 538,553,996 573,433,181 11,239,000 50,279,070 387,507,876 124,407,235
Short-term borrowings 50,000,000 50,812,192 50,812,192 - - -
Long-term borrowings 685,985,000 711,781,532 123,454,361 435,842,182 152,484,989 -
Total 1,638,326,128 1,700,649,627 536,135,742 493,982,734 545,321,946 125,209,205
D. Foreign Exchange Risk
The Company is exposed to currency risk on sales, purchases, and borrowings. The currencies in which
these transactions primarily are denominated are USD and so forth. The Company establishes a plan
to manage currency risk through currency forwards and so forth, if considered necessary.
(1) Exposure to currency risk
The Company’s level of exposure to foreign currency risk is as follows :
End of 1Q 2022 End of 2021

Description
USD EUR JPY GBP USD EUR JPY GBP
Assets:
Cashable asset 347,077,143 - - - 2,609 - - -
Short-term financial
36,324,000 - - - - - - --
instruments
Trade and other

259,975,453 851 - 1,385,062 320,350,462 100,535 - 608,143
receivables
Contract asset 28,143,240 - - - 27,999,271 - - -
Subtotal 671,519,836 851 - 1,385,062 348,352,342 100,535 - 608,143
Liability:
Borrowings(*) 12,108,000 - - - 11,855,000 - - -
Trade and other

20,613,234 386,360 946,233 529,345 4,839,226 2,362,327 2,001 142,919
payables
Subtotal 32,721,234 386,360 946,233 529,345 16,694,226 2,362,327 2,001 142,919
Total 638,798,602 (385,509) (946,233) 855,717 331,658,116 (2,261,792) (2,001) 465,224
(*) Swap-covered borrowings are excluded as they are not exposed to currency risk.
(2) Exchange rate

The exchange rate applied during 1Q 2022 and 2021 are as follows :
(Unit: KRW)
1Q 2022 2021
Description
Average End Average End
USD 1,204.95 1,210.80 1,144.42 1,185.50
EUR 1,352.44 1,351.13 1,352.79 1,342.34
CHF 1,304.45 1,311.74 1,251.65 1,297.47
JPY(100￥) 1,035.74 992.74 1,041.45 1,030.24
GBP 1,616.62 1,590.81 1,573.96 1,600.25
(3) Sensitivity analysis

The Company regularly estimates the foreign exchange risk for fluctuations in KRW exchange rates.
The impact of fluctuations in exchange rates on income before income taxes when KRW exchange
rates change by 10% to each foreign currency as of the end of 1Q 2022 and 2021 are as follows :

Category
Increase of 10% Decrease of 10% Increase of 10% Decrease of 10%
USD 63,879,860 (63,879,860) 33,165,812 (33,165,812)

EUR (38,551) 38,551 (226,179) 226,179
JPY (94,623) 94,623 (200) 200
GBP 85,572 (85,572) 46,522 (46,522)
Total 63,832,258 (63,832,258) 32,985,955 (32,985,955)
E. Interest Rates Risk
The Company is exposed to interest rate risk because it raised funds with interest paid at a variable
rate. If the interest rate changes by 0.5% as of the current and previous quarters, the effect of the
change in the interest rate on the income before income tax is as follows :

Description
Increase of 0.5% Decrease of 0.5% Increase of 0.5% Decrease of 0.5%
Decrease(Increase) in
(466,027) 466,027 (330,411) 330,411
Interest expense
F. Capital Management
The Company’s capital management is for the purpose of maximizing the shareholders’ interest by
maintaining an optimal capital structure. To achieve optimal capital structure, the Company may improve
its financial structure by monitoring financial ratios, such as the debt-to-equity ratio.
Debt ratio as of the end of 1Q 2022 and 2021 are as follows :


Liabilities (A) 3,676,402,358 2,978,908,646
Capital (B) 4,321,806,215 4,991,102,141
Debt ratio (A/B) 85.07% 59.68%
(*) On January 28, 2022, the Board of Directors of the Company resolved to increase its capital for the
acquisition of construction-in-progress and securities of other entities. The Company recognized KRW
815,861 million of derivative liabilities related to 4,339,688 shares of stock warrants granted to existing
shareholders, which was recognized as a decrease in share premium. The debt ratio, excluding the
impact of the issuance of warrants for the current quarter, is as follows:
Liabilities (A) 2,860,541,014 2,978,908,646
Capital (B) 5,137,667,559 4,991,102,141
Debt ratio (A/B) 55.68% 59.68%
G. Derivative Instruments and Put-back Options
The Company has established contracts for financial derivatives for foreign currency borrowings for
the purpose of hedging exchange rate risk of foreign currency receivables/debts and interest rate, and
the details are listed below.
(1) Currency Interest Swap Contract

Currency
Committed Interest rate(%)
Financial Contract Contract Maturity (*)
Classification Category exchange
institution Amount Date Date
Sell Buy rate Received Paid
Currency
USD Libor(3M)
Trading interest Hana bank 2018.05.31 2023.05.31 USD KRW 1,080 3.70
30,000,000 + 1.70
swap
Currency
USD Libor(3M)
Trading interest Woori bank 2021.08.30 2024.08.30 USD KRW 1,164 2.15
30,000,000 + 1.20
swap
(*) The details have been prepared based on the date of borrowing.
(2) Interest Swap Contract
Interest rate(%)
Financial Contract Contract Maturity
Classification Category
Received Paid
Interest KRW CD(91Days)

Trading Woori bank 2020.09.28 2023.10.02 2.25
swap 50,000,000,000 + 1.23
(3) Gain and Loss on Valuation

Accumulated Other
Classification Gain on Valuation Loss on Valuation
Comprehensive Income
Currency Interest swap KRW 2,580,719,972 - -
Interest swap KRW 383,127,344 - -
※ Derivative liabilities related to paid-in capital increase
On January 28, 2022, the Board of Directors of the Company resolved to increase its capital for the
acquisition of construction-in-progress and securities of other entity. The Company recognized KRW
shareholders, which was recognized as a decrease in share premium.
6. Major Contracts for Business Management
A. License-Out Contracts
- Not applicable
B. License-In Contracts
- Not applicable
C. Sales Contracts
(Unit: USD Mil)
Contract Contract Payment

Company name Details Amount Remarks
start date end date method
Biopharm Cilag GmbH International CMO 2016.11.15 - 291.8 Cash -

Biopharm Sun Pharma Global FZE CMO 2017.07.04 - 55.5 Cash -
Biopharm U.S. based pharma CMO 2017.07.20 - 14.9 Cash -
Biopharm Checkpoint Therapeutics, Inc., CMO 2017.11.08 2022.11.09 7.2 Cash -
Biopharm UCB CMO 2017.12.21 - 41.7 Cash -
Biopharm TG Therapeutics, Inc. CMO 2018.02.21 2026.12.31 50.3 Cash -
Swiss based subsidiary of a global
Biopharm CMO 2018.04.30 2025.12.31 449.4 Cash -
pharma
Biopharm Ichnos Sciences CMO 2018.06.01 - 15.1 Cash -
Biopharm Asia based pharma CMO 2018.08.14 - 127.6 Cash -
Biopharm Gilead Sciences, Inc. CMO 2018.09.11 2025.12.31 266.5 Cash -
Biopharm Immunovant Sciences GmbH CMO 2018.12.18 2029.12.31 43.5 Cash -
Biopharm CytoDyn Inc. CMO 2019.04.01 2027.12.31 50.2 Cash -
Biopharm UCB CMO 2019.05.17 - 33.8 Cash -
Biopharm H. Lundbeck A/S CMO 2019.09.27 2031.12.31 27.9 Cash -
Biopharm U.S. based pharma CMO 2019.12.03 - 58.2 Cash -
GlaxoSmithKline Trading Services
Limited
Biopharm Eli Lilly and Company CMO 2020.07.27 2026.08.30 268.3 Cash -
GlaxoSmithKline Trading Services
Limited
Biopharm AstraZeneca UK Ltd., CMO 2020.09.21 2023.12.31 16.0 Cash -
Biopharm AstraZeneca AB CMO 2020.09.21 2028.12.31 377.5 Cash -
Biopharm Checkpoint Therapeutics, Inc., CMO 2020.10.06 2030.10.02 19.7 Cash -
Biopharm U.S. based pharma CMO 2020.11.03 2030.12.31 16.1 Cash -
Biopharm FibroGen, Inc. CMO 2020.11.09 2022.12.31 51.5 Cash -
Biopharm F.Hoffmann-La Roche Ltd CMO 2021.01.15 2024.12.31 202.3 Cash -
Biopharm F.Hoffmann-La Roche Ltd CMO 2021.01.15 2024.12.31 550.2 Cash -
Letter of
Biopharm MSD International Business GmbH CMO 2021.09.29 - 41.5 Cash
Intent
Letter of
Biopharm Europe based pharma CMO 2021.09.29 2022.06.30 56.6 Cash
Intent
Biopharm Eli Lilly Kinsale Limited CMO 2022.03.28 2029.12.31 92.0 Cash -
D. Other Contracts
(1) Contract signed to construct Plant #4

At the Board of Directors meeting on October 26, 2021, the Company and Samsung Engineering Co.,
Ltd. decided to sign the contract. The actual signing was on October 29, 2021. The down payment
was KRW 911 billion (VAT excluded).
(2) Purchase of site for Multi Modal Plant

The Company signed a new site purchase contract on November 3rd, 2021 to establish a new plant
with a production capacity for mRNA and cell/gene therapy. On November 3rd, 2021, the Company
signed a contract with the Incheon Free Economic Zone Authority to purchase the site at 218-3
Songdo-dong. The purchase price was KRW 7.8 billion.
(3) Signed a contract to acquire full ownership of Samsung Bioepis

For the diversification of its portfolio and enhancement of business competitiveness as a
Biopharmaceutical company, the Company agreed to acquire 10,341,852 shares of Samsung Bioepis
Co., Ltd. owned by Biogen Therapeutics Inc. in accordance with the resolution of the Board of Directors
on January 28, 2022. The total transaction payment amount of USD 2,300,000,000 comprises of the
purchasing price and contingent consideration amounting to USD 2,250,000,000 and USD 50,000,000,
respectively.
E. R&D Activities
(1) R&D organization

The Company has R&D organizations as follows: Technology Support Center, Contract Development
Organization R&D Team, Advanced Research Lab, and Samsung Biologics America R&D Team.
These organizations provide technical support for clients’ manufacturing production and R&D services
for cell line development.
[Job description]
Category Details
1) Research services for improving client manufacturing production

Technical support for 2) Technology transfer
manufacturing production - R&D project between a client for products which are to be produced in the Company’s site
- Technology transfer or development service of analysis method
1) Cell line development service (develop high-productivity cell lines)

2) Process development service (improve the productivity through process development)
R&D services for cell line
- R&D by combining process conditions and culture medium to improve a tire when culturing cells
and process development
- R&D for the process to improve target protein refining yield
- R&D related to quality analysis
(2) R&D Manpower Status
As of the reporting date, the Company has 425 staff members assigned to research and development
activities, with 49 holding doctorate degrees and 179 holding master’s degrees. The details are as
follows :
[R&D Manpower Status]

(Unit: person)
Team Ph.D M.S. Other Total

Technology Support Center 21 102 133 256
CDO R&D Team 16 72 59 147
Advanced Technology Group 11 4 2 17
SBA R&D Team 1 1 3 5
Total 49 179 197 425
(3) Key R&D Personnel

The details of the Company’s key R&D personnel are as follows:
[Key R&D Personnel Status]

Name Position Function Career R&D Performance
[Theses]
- Bioreactor Operation for Transgenic
Nicotiana tabacum Cell Cultures and
Continuous Production of Recombinant
Human Granulocyte-Macrophage
- MSAT Business Unit Leader,
Colony-Stimulating Factor by Perfusion
Technology Samsung Biologics
Culture (2004, Enzyme Microb. Technol.)
Lee Vice Support - Global Management Leader,
- Effects of Pluronic F-68 on Cell Growth
Sangyoon President Center Celltrion
of Digitalis lanata in Aqueous Two-Phase
Leader - Doctor of Biotechnology,
Systems (2004, J. Microbiol. Biotechnol.)
Inha University
- Perfusion Cultivation of Transgenic
Nicotiana tabacum Suspensions in
Bioreactor for Recombinant Protein
Production (2006, J. Microbiol.
Biotechnol.)
Name Position Function Career R&D Performance
[Theses]
- A phase II trial of the pan-HER inhibitor
poziotinib, in patients with HER2-positive
metastatic breast cancer who had
received at least two prior HER2-
directed regimens: results of the
NOV120101-203 trial (2018,
International Journal of Cancer)
- CDO Business Unit Leader, - Once-Weekly Efpeglenatide Dose-
Samsung Biologics Range Effects on Glycemic Control and
- CEO, Lumebio Body Weight in Patients With Type 2
- Clinical Research & Development Diabetes on Metformin or Drug Naive,
Vice President, Referenced to Liraglutide (2019,
Head of
Kang Vice Hanmi Pharmaceutical Company Diabetes Care)
CDO
Jahoon President - Senior Clinical Project Manager, - Body weight management and safety
Division
Novartis with efpeglenatide in adults without
- Clinical Research Associate, diabetes: A phase II randomized study.
Chong Kun Dang (2019, Diabetes Obes Metab.)
- Doctor of Pharmacy, Sookmyung - Efficacy and safety of oncemonthly
Women’s University efpeglenatide in patients with type 2
diabetes: Results of a phase 2
placebocontrolled, 16-week randomized
dose-finding study (2020, Diabetes
Obes Metab.)
- Pharmacokinetic and dose-finding
studies on efpeglenatide in patients with
type 2 diabetes. Diabetes (2020, Obes
Metab.)
[Theses]
- Phytosphingosine and C2-
- USP2 Part Leader, phytoceramide induce cell death and
CDO
Samsung Biologics inhibit carbachol- stimulated
Lee Vice R&D
- Yuhan Corporation phospholipase D activation in Chinese
Jaesun President Team
- Doctor of Biochemistry, hamster ovary cells expressing the
Leader
Chungbuk National University Caenorhabditis elegans muscarinic
acetylcholine receptor (2001, FEBS
letters)
F. R&D Expenses
(Unit: KRW Bil, %)
1Q 2022 2021 2020
Raw material expenses 25 164 193
Labor expenses 113 444 357
Type of Depreciation expenses 47 160 105
expenses Outsourcing expenses - - -
Others 38 151 131
Total R&D expenses 223 919 786
SG & A expenses 10 34 51
Manufacturing expenses 213 885 735
Accounting
classification Development expenses
- - -
(Intangible Assets)
Total R&D expenses 223 919 786
R&D expenses/ Sales Ratio
4.4% 5.9% 6.7%
[Total R&D expenses / Sales*100]
Note 1) Consolidated basis in accordance with K-IFRS.
Note 2) The Company is not applicable to government subsidies.
G. R&D Performance
(1) R&D Progress Status and Future Plans

The Company provides Contract Manufacturing Organization (CMO) and Contract Development
Organization (CDO) services to clients. The Company operates four R&D organizations; Technology
Support Center, Contract Development Organization R&D team, Advanced Research Lab, and SBA
R&D team. These organizations are dedicated to providing technical support for manufacturing
production and R&D services for cell line and process development. In addition, the Company is
currently expanding its presence in contract R&D services for cell line development for further
expansion. While widening the scope of the business area, the Company is doing its utmost to become
the global CDMO provider.
(2) R&D Completion Performance

The Company provides a wide range of technical services to clients, including Cell Line Development
and Method Development. The Company currently has no completed pipelines.
7. Other Information
A. Laws and Regulations Affecting Business Operation
Pharmaceutical manufacturer is under strict government regulation throughout all phases (pre-clinical
phase, clinical phase, IND approval, production and distribution, etc.) due to their nature of providing
products which bring significant impact on human lives.
Laws Details
- Regulate overall matters concerning medicine manufacturing business such as quality

control and manufacturer designation
Pharmaceutical Affairs
- Obtain a manufacturing license according to the Act
Act
- Impose administrative measures (revocation of license) or criminal punishments
(imprisonment or punishment of a fine)
Unfair Competition
and Prevention and
- Regulate the act of unjustifiably using or disclosing trade secrets of clients
Trade Secret
Protection Act
Act on the
Registration and - Regulate the registration, evaluation, and management of chemical substances that are
Evaluation, Etc. of not controlled as drug and quasi-drug by the Pharmaceutical Affairs Act
Chemical Substances, - Registration and evaluation requires cost and time to import the drug substances that fall
Toxic Chemicals under chemical substances subject to the Act
Control Act
Transboundary
Movement, Etc. of - Inspect the risks posed by living modified organisms
Living Modified - Regulate the import of living modified organisms and registration of the research facility
Organisms Act
- Regulate unfair trading practices and unfair collective practices across the entire business
area including winning an order for CDMO project, building manufacturing facilities, and
Fair Trade Act
purchasing materials
- Impose corrective measures, penalty, fine, etc. if related matters are violated
B. Business-related Important Intellectual Property Rights
During the first half of 2020, the Company launched its proprietary cell line development platform S-
CHOice. As of the end of 2021, The brand name S-CHOice has officially obtained its trademarks in six
countries (Korea, US, EU, UK, China, and Japan). In addition, S-Cellerate, a CDO platform brand that
compiles our accumulated know-how, expertise, and innovative technology across all areas of
consignment development service, was completed the registration of domestic trademarks in December
2021. The Company completed the trademark registration of the slogan Driven. For Life. in South Korea
and Madrid as of the end of 2021. In addition, the Company strives to secure intellectual property/
trademark rights, including related patent and trademark rights, through continuous research
development related to biopharmaceutical manufacturing.
C. Environmental Regulations
With an environmental policy placing environmental contaminant reduction and green values at the top
of its priorities, the Company commits itself to do all it can to prevent undesired environmental events
and make utmost efforts to lead the sustainable future.
To put this into practice, the Company strives to achieve compliance with environmental regulations and
reduce contaminant generation in addition to actively being engaged in chemical accident prevention
by implementing a life cycle management system for all chemicals handled in its business sites. In
addition, the Company follows regulatory requirements for contaminant emission standards, reports the
amount of greenhouse-gas emission and energy usage and transparently discloses relevant
information to its stakeholders in order to meet the government’s low-carbon growth policies and
responses to climate change.
(Business site management, compliance with environmental regulations and contaminant reduction)
The Company has installed and is operating various facilities for water pollution prevention, air pollution
prevention, waste storage, noise control, etc. to minimize emission of contaminants generated from
biomedicine manufacturing processes so that impact on the surrounding social environment can be
minimized. For business site environment management, regular self-inspections in addition to
management and supervision of relevant authorities have been carried out. As such, the Company’s
excellent environment control capability was acknowledged by being selected as the Best Company for
Environment Management by the City of Incheon three times, in 2015, 2018 and 2021.
The Company discloses transparent information on environmental emission performance and operational
status each year and is making efforts for regulatory compliance and contaminant reduction through
continued investment.
- The Company has built a continuous monitoring system for basic

TMS System
environmental facilities to monitor contaminant emission standards and is
Operation
making constant efforts to prevent environmental pollution accidents.
- The Company is striving to reduce waste through various activities
including garbage separation and recycling systems for the wastes
Waste Resource discharged from its business sites. While the Company keeps an eye on
Circulation the entire process from waste emission to final disposal, it also carries out
regular inspections/ evaluations on outsourced waste disposal companies
on annual basis.
Investment on - The Company is making continuous investment on basic environmental

Environmental facilities for the sake of preventing and improving environmental pollution
Improvement of its business sites and local community.
(Chemical Substance Management)

The Company has built an integrated chemical substance management system in order to comply with
the [Chemical Substances Control Act] and the [Act on Registration, Evaluation, etc. of Chemicals.]
The Company is working actively to prevent chemical accidents by having all chemical substances go
through pre-evaluation before warehousing and managed throughout the process up to disposal.
Regular training is performed for those handling chemical substances, and safety management
activities are thoroughly executed by conducting training sessions on protective equipment wearing,
emergency response drilling, etc.
Integrated Chemical
- The Company is making efforts to prevent chemical accidents across the
Substance
Company by managing the lifecycle (entire process) of chemical
Management
substances using the chemical substance management system.
System
Management of - In an effort to manage and improve chemical substance handling facilities,

Hazardous the Company has installed double piping, sensors, emergency shutdown
Chemical facilities, etc. to prevent accidents from these facilities and regular
Substance Handling inspections on these installations are performed annually by specialized
Facilities agencies.
- The Company is operating and managing the 24-hour operated emergency

All-time Monitoring
response center (CCR: Central Control Room) for real-time monitoring of
System
abnormal signs and immediate emergency response.
(Response to Climate Change)

In accordance with Article 8 of the Act on the Allocation and Trading of Greenhouse-Gas Emission
Permits, the Company has followed relevant regulatory standards since 2017. The Company also
reports to the government its greenhouse-gas emission and energy use after 3rd party verification and
transparently discloses the report to its stakeholders.
In addition, the Company is reinforcing its management on unexpected risks including climate change,
natural disasters, etc. through certification of the international standard for Business Continuity
Management System (ISO 22301).
Greenhouse-Gas - Each year, the Company manages and discloses greenhouse-gas
Emission Control emission monitoring plans and statements through 3rd party verification.
- The Company is making efforts to reduce emission of contaminants

Total Air Pollution including nitrogen oxides, dusts, etc. that can impact climate warming
Load Management through monitoring on air contaminant emission sources and operating
highly efficient reduction systems.
- The Company is making investments to introduce and improve highly

Energy Use efficient facilities for sustained energy/greenhouse-gas reduction activities
Reduction and is also taking the lead in making efforts to reduce greenhouse-gas
emission through regular energy diagnosis from external agencies.
Greenhouse-gas emission and energy consumption for the recent five years are as follows :
Annual Greenhouse Gas Emissions (ton) Annual Energy Consumption (TJ)

Year
Direct Indirect Total Gas Electricity Steam Total
2017 29,587 55,727 85,314 579 1,147 - 1,726
2018 40,967 75,612 116,579 803 1,557 - 2,360
2019 40,166 79,625 119,791 788 1,639 - 2,427
2020 41,793 83,014 124,807 820 1,709 - 2,529
2021 44,034 86,835 130,869 864 1,815 - 2,679
※ The subjects are our plant, shuttle bus, rental building, etc.
※ The data provided above is submitted to the “National Greenhouse Gas Management System.”
※ Emissions and energy consumption may change depending on the verification results of external verification agencies.
※ Refer to H. Green management in 4. Subsequent events under XI. Other Information for details.
D. Industry Overview
(1) Nature of Industry

The biopharmaceutical Contract Manufacturing Organization (CMO) business provides drug
development and manufacturing services to global pharmaceutical companies on a contract basis to
allow them to focus on R&D activities and marketing.
The Company operates primarily in the antibody drug segment, which requires large investments in
commercial plants and at least a three-year period to complete the commercialization process including
plant design, construction, and validation. In addition, antibody drug requires a high degree of quality
control management which ensures Good Manufacturing Practices (GMP) throughout all processes
using mammalian cells including cell culture, purification, and filling.
Furthermore, pharmaceutical companies spend typically over two years to complete technology transfer,
test production, multinational regulatory GMP certificates and other necessary steps to produce
commercial drugs using CMOs. Therefore, each CMO contract is usually long-term between five to ten-
year period.
(2) Growth Potential

1) Continuous Development of Blockbuster Biopharmaceuticals
Blockbuster biopharmaceuticals released around the year 2000 (immunosuppressant drugs, anticancer
drugs, antidiabetic drugs, etc.) still show a high level of sales growth, and new promising antibody drugs
for hyperlipidemia, Alzheimer’s disease, and atopic dermatitis along with immune checkpoint inhibitors
continue to be released.
2) Expansion of Production Outsourcing by Global Biopharma Companies
Pharmaceutical companies are expanding the areas of production outsourcing to specialized CMOs
where massive capital investments are required to minimize the uncertainty in marketing authorization
and sales forecasting of drugs. This market change gives a new opportunity to CMOs.
3) Increasing Demand for End-to-end CDMO Service to Biopharma Companies
Global CDMO companies are aiming for a one-stop shop model that can provide end-to-end services
to reduce pharmaceutical companies' development to production, clinical development to
commercialization needs, and complexity of a single project.
4) Increasing Demand for Dual Sourcing to Secure Supply
Recently, regulatory authorities across the world have strongly recommended pharmaceutical
companies to secure a source for stable drug production. The U.S. Food and Drug Administration (FDA)
requested pharmaceutical companies to establish a contingency plan, believing that supply stability
cannot be guaranteed in case the drug is manufactured in a single site. Accordingly, pharmaceutical
companies are making use of CMOs to run multiple manufacturers for a single drug.
In 2022, the global biopharmaceutical market is valued at USD 360 billion, which accounts for 39.3%
of the entire pharmaceutical market. The market is expected to increase with an average growth rate of
10.3% in 2026, boosting the growth of the overall pharmaceutical industry.
Biopharmaceutical Market Size
Source: EvaluatePharma, Apr 2021 and Mckinsey report
The global bio-CDMO market is valued at USD 14.3 billion in 2022 and is forecasted to reach USD 20.3
billion by 2026 at an average growth rate of 10.1% for the next five years.
Bio CDMO Market Size

Source: Evaluate Pharma and Frost&Sullivan (Jul 2021)
(3) Economic Fluctuation

- Not applicable
E. Competition Status
The Company has emerged as a global bio CMO based on production facilities by securing a total
capacity of 364,000 liters with 360,000L (Plant 1 – 30,000L, Plant 2 – 150,000L, Plant 3 – 180,000L) of
commercial production facilities and 4,000L of clinical production facilities in Songdo Free Economic
Zone (Songdo District) in Incheon. As of 2022, competitors with similar capacity of more than 300,000
liters include Switzerland-based Lonza and Germany -based Boehringer Ingelheim. In addition, China-
based Wuxi Biologics and US-based Fujifilm Diosynth are aggressively expanding capacity both
domestically and internationally.
F. Competitiveness
In CMO industry, it is essential to integrate 1) good quality management to secure adequate

environment for manufacturing biopharmaceuticals, 2) quick operational systems to serve clients in
timely manner, and 3) reliable sales activities for winning contracts.
The Company complies with global GMP standards in each stage of operations, and the clients have
rights to carry out audits and inspections of all manufacturing processes. In addition, the Company
ensures full documentation of each step and result throughout manufacturing process.
The Company’s global contract sales division is in charge of new business operation and sales activities,
and supports the activities for winning new contracts utilizing local manpower in main strongholds in the
Eastern and Western states of the United States including San Francisco, Boston, and New Jersey.
The sales division regularly holds meetings with global pharmaceutical companies and provides them
with information on the Company’s CMO services and manufacturing facilities at the meetings. The
division also continuously sends sales and marketing representatives to overseas bio-conferences to
identify latest technology trends in the market and contact potential customers as part of strategy to
maintain a strategic relationship with customers. In addition, the company has established non-face-to-
face platforms such as virtual exhibition halls and live virtual tour and inspection systems to minimize
the impact of COVID-19 prolonged period, and is strengthening non-face-to-face activities such as video
conferencing with customers and Webinars.
G. New Business and Market Prospect
The Company is currently widening the scope of business to CDO services, mRNA and cell/gene
therapy to transform into global biopharmaceutical company. The CDO business provides cell line and
process development and characterization services for small and medium-size Biotechs, which do not
have own development facilities. The Company launched high-performing cell line ‘S-CHOice’, which
delivers high productivity and viability, and ‘S-Cellerate’, which is a platform that innovatively shortens
the development period through a standardized process for each development stage. Furthermore, the
Company opened its first global CDO R&D center in the renowned San Francisco Biopharma Cluster
in October 2020 and currently plans to widen the scope of the market including Boston, Europe, and
China.
The Company has implemented mRNA production capacity within its existing manufacturing plant,
which is set to be cGMP ready by the first half of 2022. In November 2021, the company signed a land
purchase agreement for a new plant with production capacity for mRNA and cell/gene therapy products.
III. Financial Affairs
1. Financial Statements
Refer to Audited Financial Statements published on the Company’s Website.
2. Consolidated Financial Statements

3. Notes to Consolidated Financial Statements

4. Separate Financial Statements

5. Notes to Separate Financial Statements

6. Dividends
A. Articles of Incorporation Regarding Dividends
In accordance with the Articles of Incorporation, the Company can pay out dividends of profits in cash
or shares, with the approval granted by the Board of Directors. For shareholders’ value enhancement,
dividends will be determined, considering the Company’s investment plan, financial status, and
dividends sustainability. We plan to review whether to pay cash dividends within 10% of free cash flow
(FCF) for the year after 2025.
The Company’s articles of incorporation regarding dividends are provided in the Articles 48 and 49.
Article Content
1. Dividends may be paid in either cash or stock.

Article 48 (Dividends) 2. Dividends under Paragraph 1 shall be paid to shareholders or pledgees registered in the
current Register of Shareholders as of the end of each fiscal year.
1. The Company may distribute interim dividends to current shareholders as of the date
determined by a resolution of the BOD under Article 462-3 of the Commercial Code.
2. Interim dividends under Paragraph 1 shall be distributed by a resolution of the BOD.
3. Interim dividends shall be limited to the amount calculated by deducting each of the
following sums from the net asset value in the balance sheet for the immediately
preceding fiscal year:
(1) Amount of the capital of the immediately preceding fiscal year;
(2) Sum of capital reserves and legal reserves accumulated up to the immediately
preceding fiscal year;
(3) Unrealized gains stipulated in the Enforcement Decree of the Commercial Code;
Article 49 (4) Amount determined by the ordinary general meeting of shareholders of the
(Interim Dividends) immediately preceding fiscal year for distribution of dividends;
(5) Discretionary reserves accumulated for specific purpose under applicable provisions of
these Articles of Incorporation or by a resolution of the general meeting of
shareholders until the immediately preceding fiscal period
(6) Profit reserve to be accumulated during the settlement period according to interim
dividends
4. In connection with interim dividends on shares issued by rights issues, bonus issues,
stock dividends, conversion of convertible bonds or exercise of bonds with warrants after
the commencement of applicable fiscal year and prior to the record date in Paragraph 1,
new shares shall be deemed to have been issued at the end of the fiscal year
immediately preceding the fiscal year when such shares were actually issued.
B. Key Dividend Index
Classification Type of Shares 1Q 2022 2021 2020
Par value per share (KRW) 2,500 2,500 2,500
Consolidated net profit (KRW mil) 146,943 393,589 240,975
Separate net profit (KRW mil) 141,334 423,177 250,969
Consolidated EPS (KRW) 2,221 5,949 3,642
Total cash dividend (KRW mil) - - -
Total stock dividend (KRW mil) - - -
Consolidated dividend payout ratio (%) - - -
Common - - -
Cash dividend yield (%)
Preferred - -
Common - -
Share dividend yield (%)
Preferred - -
Common - -
Cash dividend per share
(KRW)
Preferred - -
Common - -
Stock dividend per share
(share)
Preferred - -
C. Dividend History
Number of Consecutive Dividend Payout Average Dividend Payout
Quarterly(Interim) Dividend Annual Dividend 3-year 5-year
- - - -
※ The Company has no dividend payout history in the past five years.
7. Matters About Financial Through the Issuance of Securities
7-1. Financing Through the Issuance of Securities
[Issuance of Equity Securities]
Status of Capital Increase (reduction)

(As of March 31, 2022) (Unit: KRW, Share)
Date of stock Details of issued(reduced) shares

issuance Type of issuance (reduction) Face value Amount issued
(reduction) Class Volume Remarks
per share (reduced) per share
2011.04.22 - Common 1,500,000 5,000 50,000 Establishment
Capital increase with consideration

2011.09.07 Common 1,500,000 5,000 50,000 Increase rates of 100%
by allocation to shareholders





2013.02.19 Common 866,007 5,000 46,189 Increase rates of 8%

2013.08.20 Common 748,520 5,000 43,345 Increase rates of 7%


Date of stock Details of issued(reduced) shares
issuance Type of issuance (reduction) Face value Amount issued
(reduction) Class Volume Remarks
per share (reduced) per share


2016.09.12 Stock split Common 27,568,721 2,500 - -

[Issuance of Debt Securities]

A. List of Issued Debt Securities
(As of March 31, 2022) (Unit: KRW Mil, %)
Issuing Type of Issuance Date of Total nominal Rating

Interest rate Maturity date Payment status Underwriter
company securities method Issuance amount (rating institution)
- - - - - - - - - -
- - - - - - - - - -
Total - - - - - - - - -
B. Commercial Paper Balance
(As of March 31, 2022) (Unit: KRW Mil)
Under Above 10 days Above 30 days Above 90 days Above 180 days Above 1 year Above 2 years
Issuing company Above 3 years Total
10 days /under 30 days /under 90 days /under 180 days /under 1 year /under 2 years /under 3 years
Public - - - - - - - - -
Balance Private - - - - - - - - -
Total - - - - - - - - -
C. Short Term Bond Unredeemed Balance
Under Above 10 days Above 30 days Above 90 days Above 180 days
Issuing company Total Issue limit Balance limit
10 days /under 30 days /under 90 days /under 180 days /under 1 year
Public - - - - - - - -
Balance Private - - - - - - - -
Total - - - - - - - -
D. Corporate Bond Unredeemed Balance
Under Above 1 year Above 2 years Above 3 years Above 4 years Above 5 years
1 year /under 2 years /under 3 years /under 4 years /under 5 years /under 10 years
Public - - 380,000 - 120,000 - - 500,000
Unredeemed
Private - 40,000 - - - - - 40,000
Balance
Total - 40,000 380,000 - 120,000 - - 540,000
E. Hybrid Bond Outstanding Balance
Under Above 1 year Above 5 years Above 10 years Above 15 years Above 20 years
1 year /under 5 years /under 10 years /under 15 years /under 20 years /under 30 years
Public - - - - - - - -
Unredeemed
Private - - - - - - - -
Balance
Total - - - - - - - -
F. Contingent Convertible Bond Outstanding Balance
Above 1 year Above 2 years Above 3 years Above 4 years Above 5 years Above 10 years Above 20 years Above
Issuing company Under 1year Total
/under 2 years /under 3 years /under 4 years /under 5 years /under 10 year / under 20 years / under 30 years 30 years
Public - - - - - - - -
Balance Private - - - - - - - -
Total - - - - - - - -
G. Details and Compliance of the Bond Management Contract
(As of March 31, 2022) (Unit: KRW Mil, %)
Settlement date of bond Debenture management

Name of security Date of issuance Maturity date Issued amount
management contract company
Samsung Biologics
2021.09.03 2024.09.03 380,000 2021.08.24 Korea Securities Depository
7-1 Unguaranteed Bond
Samsung Biologics
2021.09.03 2026.09.03 120,000 2021.08.24 Korea Securities Depository
7-2 Unguaranteed Bond
(As of March 31, 2022)
Contract details Consolidated debt ratio remains under 300%

Financial ratios
Implementation status Fulfilled (85%)
Contract details Total collateral value remains under 200% of consolidated equity
Constraint on collateral
Implementation status Fulfilled (0%)
Constraint on disposal of assets Contract details Total restricted value remains under 80% of consolidated assets
(excl. financial assets and inventories)
Implementation status Fulfilled (No disposal of assets exceeding KRW 6.1 trillion)
Contract details The entity remains as a member firm of Samsung Group

Constraint on governance
Implementation status Fulfilled
Submission of implementation report Implementation status -

* The date of implementation status is when the most recent financial statements were prepared.
The constraint on governance is as of the reporting date.
7-2. Use of Funds Financed Through the Issuance of Securities
A. Use of Publicly Raised Funds

Plan Actual
Classification Name of bond Date of issuance Reason for difference
Purpose Amount raised Purpose Amount used
7-1 Public Investment in Investment in
Corporate bond 2021.09.03 380,000 380,000 -
non-guaranteed bond manufacturing plant manufacturing plant
7-2 Public Investment in Investment in Currently reviewing the
Corporate bond 2021.09.03 120,000 78,556
non-guaranteed bond manufacturing plant manufacturing plant investment plan
B. Use of Privately Raised Funds

Plan Actual
Classification Name of bond Date of issuance Reason for difference
Purpose Amount raised Purpose Amount used
- - - - - - - -
C. Unused Funds Management Report
Type of financial instrument Name of financial instrument Amount Contract period Investment term
Savings account MMF 41,444 2022.03 ~ 2022.04 1 month
Total 41,444 -
8. Other Financial Information
A. Restatement of Financial Statements and Other Matters to Note
- Other matters requiring attention in relation to the use of the financial statements
(1) Emphasis of matter and key audit matters in auditor’s report

Period Emphasis of matter Key audit matter
- Administrative lawsuit against

2022 measures imposed by Securities
- Not Applicable
1Q & Futures Commission and
Prosecution charge
- Administrative lawsuit against - Impairment test of investment in associates and joint

measures imposed by Securities - Appropriateness of CMO revenue recognition
2021
& Futures Commission and - Existence of Construction in Progress and Occurrence of
Prosecution charge Acquisition transaction
- Administrative lawsuit against

measures imposed by Securities
- Impairment test of investment in associates and joint
& Futures Commission and
2020 ventures
Prosecution charge
- Appropriateness of CMO revenue recognition
- Initial adoption of K-IFRS in
separate financial statements
(2) Ruling of the securities and Futures Commission in relation to the accounting for investment
in Samsung Bioepis Co., Ltd., the related administrative lawsuit and the indictment
Refer to Note 25 in Notes to Consolidated Financial Statements, published on the Company’s website
for detailed information about the litigation.
B. Allowance for Bad Debt
(1) Allowance for bad debt by account for the past 3 years
(Unit: KRW Mil, %)
Receivables amount Allowance amount Allowance (%)
Trade receivables 282,264 9,957 3.53%
2022 Other receivables 18,113 17 0.09%

1Q Accruals 6,005 - 0.00%
Total 306,382 9,974 3.26%
Trade receivables 351,884 4,845 1.38%
Other receivables 17,985 12 0.07%

2021
Accruals 5,747 - 0.00%
Total 375,616 4,857 1.29%
Trade receivables 238,764 - 0.00%
Other receivables 4,020 - 0.00%

2020
Accruals 3,820 - 0.00%
Total 246,604 - 0.00%

※ Consolidated basis in accordance with K-IFRS
(2) Allowance for bad debt by year

(Unit: KRW Mil)
1Q 2022 2021 2020
Beginning Balance 4,857 - -
Bad debt expense 5,117 4,857 -
Write off - - -
Ending balance 9,974 4,857 -

※ Consolidated basis in accordance with K-IFRS
(3) The guideline for bad debt allowance for account receivables
- Calculation of bad debt allowance
Calculation of bad debt allowance by applying the expected credit loss model that considers the
expected bad debt in the future to the balance of trade and other receivables as of the reporting date.
- Calculation basis of write-off experience rate and future expected bad debt
1. Write off experience rate is calculated using credit loss rate of all account receivables for all
historical period
2. Future expected bad debt is determined taking into consideration cases of debtor bankruptcy,
compulsory execution, death, disappearance, credit information of debtor and forward-looking
information.
(4) The outstanding period of account receivables
Less than 6 months ~ 1 year ~ More than 3

Classification Total
6 months 1 year 3 years years
Amount 243,005 10,040 37,358 - 290,403
Ratio 83.68% 3.46% 12.86% 0.00% 100%
※ Consolidation basis in accordance with K-IFRS.

※ Receivables amount in net present value.
C. Inventory
(1) Inventory status for the past three years

Division Classification 1Q 2022 2021 2020
Finished goods 219,827,835 236,941,382 92,867,573
Work in progress 268,549,166 277,567,820 196,982,909
CDMO Raw material 340,323,867 305,886,540 208,859,070
Material in
184,14 0,898 192,475,049 147,250,544
transit
Total 1,012,841,766 1,012,870,791 645,960,096
Inventory ratio (%)

12.7% 12.7% 10.1%
[Inventory / Total Assets]
Inventory turnover (times)

[Yearly COGS / 1.1 1.0 1.4
{Beginning inventory + Ending inventory} / 2]
※ Consolidation basis in accordance with K-IFRS
(2) Inventory counts
① Inspection date
• External auditors join and observe the inspection once a year near year-end (Late Dec. -
Early Jan.). In accordance with the internal regulation, internal inspection is carried out once
a month.
• For the difference in inventories between the inspection date and the end of the year, the
Company checks using warehouse record to confirm the inventories as the date of financial
statements.
② Inspection methodology
• All items for monthly internal inspection.
• External auditors join and observe the inspection and carry out sample test to check the
existence and completeness of inventory.
③ Obsolete Inventory
• If the net realizable value of inventories falls below the acquisition cost, the valuation loss
allowance is recognized to determine the value of the inventory assets in the statement of
financial position;
• The evaluation details of inventories as of March 31, 2022 are as follows.
(As of March 31, 2022) (Unit: KRW Thousand)
Inventory Ending
Classification Acquisition cost Gross inventory
write-down Balance
Finished goods 220,451,366 220,451,366 (623,531) 219,827,835
Work in progress 270,550,782 270,550,782 (2,001,616) 268,549,166
Raw material 342,248,296 342,248,296 (1,924,429) 340,323,867
Material in transit 187,612,912 187,612,912 (3,472,014) 184,140,898
Total 1,020,863,356 1,020,863,356 (8,021,590) 1,012,841,766
D. Fair Value Evaluation Method and Details
(1) Non-derivative Financial Assets
① Recognition and Initial Measurement
Trade receivables and debt securities issued are initially recognized when they are issued. Other
financial instruments or liabilities are recognized only when the company becomes a party to the
contractual provisions of the instrument.
Except for trade receivables which do not contain a significant financing component, financial assets or
liabilities are measured at their fair value at initial recognition, and transaction cost directly attributable
to the acquisition of the financial assets or issuance of the financial liabilities is added to or subtracted
from the fair value if they are not financial assets or liabilities measured at fair value through profit or
loss. Trade receivables without a significant financing component are measured at their initial
transaction price.
② Classification and Subsequent Measurement

On initial recognition, financial assets are classified and measured at amortized cost; debt instruments
at fair value through other comprehensive income (FVOCI); equity instruments at FVOCI or fair value
through profit or loss (FVTPL).
Financial assets are not reclassified after the initial recognition unless the company changes its
business model for managing financial assets in which case all affected financial assets are reclassified
on the first day of the first reporting period following the change in the business model.
A financial asset that meets the following two conditions is measured at amortized cost unless the asset
is designated to be measured at FVTPL.
- The financial asset is held within a business model whose objective is to hold assets in order to collect
contractual cash flows
- The contractual terms of the financial asset give rise to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding on specified dates
A debt instrument that meets the following two conditions is measured at FVOCI unless the asset is
designated to be measured at FVTPL.
- The financial asset is held within a business model whose objective is achieved by both collecting
contractual cash flows and selling financial assets.
- The contractual terms of the financial asset give rise to cash flows that are SPPI on specified dates
At initial recognition of an equity instrument that is not held for short-term trading, the company has the
irrevocable option to present subsequent changes in investment assets’ fair value in other
comprehensive income (OCI). This decision is made by investment assets.
All financial assets are measured at FVTPL unless they are measured at the aforementioned amortized
cost or FVOCI. This includes all financial derivatives. At initial recognition, the company has the
irrevocable option to designate financial assets to be measured at FVTPL, which are measured at
amortized cost or FVOCI, if doing so eliminates or significantly reduces an accounting mismatch.
However, the decision cannot be canceled afterwards.
1) Financial assets - Business model

The company assess the objective of the business model in which a financial asset is held at a portfolio
level because this best reflects the way the business is managed and information is provided to the
management. The information considered includes:
- The stated policies and objectives for the portfolio and the operation of those policies in practice which
include management’s strategy focused on earning contractual interest income, maintaining a particular
interest rate, matching the duration of the financial assets to the duration of the liabilities that are funding
those assets, and expected cash outflows or realizing cash flows through the sale of the assets
- How the performance of the financial assets held in the business model is evaluated and reported to
the management
- The risks that affect the performance of the business model (and the financial assets held within that
business model) and how those risks are managed
- How members of the management are compensated (e.g., whether compensation is based on the fair
value of the assets managed or based on the contractual cash flows collected); and
- The frequency, amount, and timing of sales of financial assets in prior periods, reasons for such sales
and expectations about future sales activity.
Transfers of financial assets to third parties in transactions that do not qualify for derecognition are not
considered sales for this purpose.
A portfolio of financial assets whose performance is evaluated on a fair value-basis or that is held for
short-term trading is measured at FVTPL.
2) Financial assets: Assessment of whether contractual cash flows are solely payments of principal and
interest (SPPI). Principal is defined as the fair value of the financial asset on initial recognition. Interest
is defined as compensation for the time value of money, credit risk associated with the principal amount
outstanding during a particular period, and other basic lending risks and costs (e.g., liquidity risk,
administrative costs), as well as a profit margin.
In assessing whether contractual cash flows are SPPI, the company considers the contractual terms of
the instrument. If the financial asset contains a contractual term that could change the timing or amount
of contractual cash flows, which may give rise to the cash flows over the life of a financial instrument,
the company should assess whether the contractual cash flows are SPPI.
In making this assessment, the company considers:

- Conditional situations that would change the amount and timing of cash flows;
- Terms that may adjust the contractual coupon rate, including variable rate features;
- Prepayment and term extension features; and
- Terms that limit the company ’s claim to cash flows from specific assets
An early prepayment feature is consistent with the SPPI criterion on a specific date if the contractual
amount of prepayment substantially represents unpaid amounts of principal and interest on the principal
amount outstanding, and includes reasonable additional compensation for early termination of the
contract.
Additionally, for the financial asset acquired at a significant discount or premium to the contractual par
-amount, a prepayment amount that substantially represents the contractual par-amount and accrued
contractual interest (but unpaid), (which may include reasonable additional compensation for early
termination of the contract), is assessed as consistent with this criterion if the fair value of the
prepayment feature is insignificant at initial recognition.
3) Financial assets: Subsequent measurement and gains and losses

Profit or loss– Financial
These assets are subsequently measured at fair value.
assets measured at fair
Net gains and losses, including interest or dividend income are recognized in profit or loss.
value
These assets are subsequently measured at amortized cost using the effective interest
Financial assets measured method. The amortized cost is reduced by impairment losses. Interest income, foreign
at amortized cost exchange gains and losses, and impairment losses are recognized in profit or loss. Gains and
losses on derecognition is recognized in profit or loss.
Other comprehensive
Interest income is calculated using the effective interest method, foreign exchange gains and
income(OCI)– debt
losses, and impairment losses are recognized in profit or loss. Other net gains and losses are
instruments measured at fair
recognized in OCI. Gains and losses on derecognition are reclassified from accumulated other
value
comprehensive income to profit or loss.
Other comprehensive
Dividends are recognized in profit or loss unless they clearly represent the recovery of the
income – Equity instruments
investment cost. Other net gains and losses are recognized in OCI and are never reclassified
measured at fair value
to profit or loss.
③ Derecognition
The company derecognizes its financial assets, when the contractual rights to the cash flow from the
financial assets expire, when the company transfers its contractual rights to receive the cash flows from
the assets in a transaction in which substantially all of the risks and rewards of ownership of the financial
asset are transferred, or when the company neither transfers nor retains substantially all of the risks
and rewards of ownership and does not retain control of the financial asset.
Conversely, the company continues to recognize the assets if it retains substantially all the risks and
rewards of ownership of the transferred assets after transferring the assets recognized in the company’s
statement of financial position.
④ Offsetting
Financial assets and financial liabilities are offset and the net amount is presented in the statement of
financial position only when the company has a current and legally enforceable right to set-off all the
recognized financial assets and liabilities, and when the company has an intention to settle them on a
net basis or to realize the asset and settle the liability simultaneously.
(2) Non-derivative Financial Liabilities

The company classifies financial liabilities as measured at FVTPL and as other financial liabilities
according to the content of contract and the definition of financial liability. And such financial liabilities
are recognized in the company’s statement of financial position, when the company becomes a party
to a contract.
① Financial Liabilities at Fair Value through Profit or Loss

Financial liabilities are classified as at FVTPL if the liabilities are classified as held for short-term trading,
as a derivative, or designated as at FVTPL upon initial recognition. After initial recognition, financial
liabilities at FVTPL are measured at fair value and changes in the fair value are recognized in profit or
loss. At initial recognition, transaction costs that are directly attributable to the issue of the financial
liabilities are immediately recognized in profit or loss.
② Other Financial Liabilities
Non-derivative financial liabilities, not classified as at FVTPL, are classified as other financial liabilities.
At initial recognition, other financial liabilities are measured at fair value after deducting transaction
costs that are directly attributable to the issue of the financial liability. At subsequent recognition, other
financial liabilities are measured at amortized cost using the effective interest method and interest costs
are recognized using the effective interest method as well.
③ Derecognition of Financial Liabilities
The company derecognizes financial liabilities only when the obligation specified in the contract is
discharged, canceled, or expires. The company derecognizes original financial liabilities when there are
changes in cash flows under new terms of financial liabilities in the contract and recognizes new
financial liabilities at fair value based on the new terms.
When financial liabilities are derecognized, the difference between the carrying amount and the
consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in
profit or loss.
(3) Derivatives
① Derivatives and Hedge Accounting
If embedded derivatives' host contract is not financial asset and meets certain criteria, such embedded
derivatives are separately accounted from host contract.
Derivatives are measured initially at fair value. Subsequent to initial recognition, derivatives are
measured at fair value, and changes therein are generally recognized in profit or loss.
At the initiation of hedging relationships, the company documents the risk management objective and
strategy for undertaking the hedge. The company documents the economic relationship between the
hedging instrument and the hedged item, including the extent to which changes in cash flows of the
hedging instrument offset changes in cash flows of the hedged item.
② Cash Flow Hedge
If derivatives are designated as cash flow hedging instruments, the effective portion of changes in the
fair value of the derivatives is recognized in OCI and accumulated in the hedging reserve. The effective
portion of changes in the fair value of the derivatives recognized in OCI, from inception of the hedge, is
limited to the amount of cumulative changes in the fair value of the hedged item determined on a present
value basis. The ineffective portion of changes in the fair value of the derivatives is immediately
recognized in profit or loss.
For the hedged forecast transaction which results in the recognition of a non-financial item (such as
inventory), the accumulated amount in the hedge reserve and the cost of hedging is directly included in
the initial cost of non-financial assets when the non-financial assets are recognized. For all other hedged
forecast transactions, the accumulated amount in the hedge reserve and the cost of hedging is
reclassified to profit or loss in the same period or periods during which the hedged expected future cash
flows affect profit or loss.
The company has a free choice to prospectively discontinue hedge accounting if the hedging
relationship no longer complies with the qualifying criteria or if the hedging instrument expired or has
been sold, terminated, exercised.
For hedges of a transaction which results in the recognition of a non-financial item, when cash flow
hedge accounting is discontinued, the accumulated hedge reserve and the cost of hedging should be
held in equity until the non-financial item is initially recognized and included in the cost of non-financial
item. For other cash flow hedges, the amounts are reclassified to profit or loss in periods during which
the hedged expected future cash flows affect profit or loss as a reclassification adjustment, that includes
the cash flow hedge reserve and the cost of hedging reclassified to profit or loss.
If a hedged future cash flow is no longer expected to occur, the amounts are immediately reclassified
from the accumulated cash flow hedge reserve and the cost of hedging to profit or loss as a
reclassification adjustment.
③ Net Investment Hedge
If derivatives or non-derivative financial liabilities are designated as a hedging instrument in a hedge of

a net investment in a foreign operation, the effective portion of changes in the fair value of the hedging
instrument (for derivatives) or the effective portion of profit and loss from the foreign currency translation
reserve (for non-derivative financial instruments) is recognized in OCI, and recognized as the translation
reserve in equity. The ineffective portion is immediately recognized in profit or loss.
The amount recognized in OCI is reclassified to profit or loss as a reclassification adjustment when a
foreign operation that was hedged is disposed of.
(4) Financial Instruments by Category
(1) Financial assets

Details of financial instruments by category as of the end of 1Q 2022 and 2021, are as follows :

Financial Financial
Financial Financial
assets at fair assets at fair
assets at Total assets at Total
value through value through
amortized cost amortized cost
profit or loss profit or loss
Current assets
Cash and
cash - 381,869,943 381,869,943 - 47,410,384 47,410,384
equivalents
Short-term
financial - 426,324,000 426,324,000 - 450,000,000 450,000,000
instruments
Financial
assets at fair
450,017,884 - 450,017,884 850,039,877 - 850,039,877
value through
profit or loss
Trade and
other - 267,150,512 267,150,512 - 350,187,893 350,187,893
receivables
Other current
financial - 30,254,388 30,254,388 - 23,984,945 23,984,945
assets
Subtotal 450,017,884 1,105,598,843 1,555,616,727 850,039,877 871,583,222 1,721,623,099
Non-current
assets
Long-term
financial - 193,386 193,386 - 189,491 189,491
instruments
Trade and
other - 11,926,370 11,926,370 - 4,428,344 4,428,344
receivables
Other current
financial - 15,639,385 15,639,385 - 22,827,408 22,827,408
assets
Derivative
instrument 7,055,818 - 7,055,818 4,091,971 - 4,091,971
assets(*)
Subtotal 7,055,818 27,759,141 34,814,959 4,091,971 27,445,243 31,537,214
Total 457,073,702 1,133,357,984 1,590,431,686 854,131,848 899,028,465 1,753,160,313
(*) Currency interest rate swaps and interest rate swaps were concluded for foreign currency borrowings.
Details are as follows:

Currency
Committed Interest rate(%)
Financial Contract Contract Maturity (*)
Classification Category exchange
Sell Buy rate Received Paid
Currency
USD Libor(3M)
Trading interest Hana bank 2018.05.31 2023.05.31 USD KRW 1,080.00 3.70
30,000,000 + 1.70
swap
Currency
USD Libor(3M)
Trading interest Woori bank 2021.08.30 2024.08.30 USD KRW 1,164.00 2.15
30,000,000 + 1.20
swap
Interest rate(%)
Financial Contract Contract Maturity
Classification Category
Received Paid
Interest KRW CD(91Days)

Trading Woori bank 2020.09.28 2023.10.02 2.25
swap 50,000,000,000 + 1.23
(2) Financial liabilities

Details of financial instruments by category as of the end of 1Q 2022 and 2021, are as follows :
Financial Financial
liabilities at Other liabilities Total liabilities at Other liabilities Total
amortized cost amortized cost
Current
liabilities
Trade and
other 232,956,191 - 232,956,191 342,930,338 - 342,930,338
payables(*)
Short-term
50,000,000 - 50,000,000 50,000,000 - 50,000,000
borrowings
Current
portion of
110,108,000 - 110,108,000 109,855,000 - 109,855,000
long-term
borrowings
Derivative
instrument - 815,861,344 815,861,344 - - -
liabilities
Lease
7,196,238 7,196,238 - 7,537,132 7,537,132
liabilities
Subtotal 393,064,191 823,057,582 1,216,121,773 502,785,338 7,537,132 510,322,470
Non-current
liabilities
Trade and
other 1,324,248 - 1,324,248 2,648,496 - 2,648,496
payables(*)
Debentures 538,691,065 - 538,691,065 538,553,996 - 538,553,996
Long-term
577,648,000 - 577,648,000 576,130,000 - 576,130,000
borrowings
Lease
- 9,521,612 9,521,612 - 10,671,166 10,671,166
liabilities
Subtotal 1,117,663,313 9,521,612 1,127,184,925 1,117,332,492 10,671,166 1,128,003,658
Total 1,510,727,504 832,579,194 2,343,306,698 1,620,117,830 18,208,298 1,638,326,128
(*) Annual allowances and performance bonuses to be paid to employees are excluded.
(3) Fair value of financial assets
Carrying amount and fair value of financial assets as of the end of 1Q 2022 and 2021 are as follows :

Description
Carrying amount Fair value Carrying amount Fair value
Financial assets measured at fair value :
Financial assets at
fair value through 450,017,884 450,017,884 850,039,877 850,039,877
profit or loss
Derivative assets 7,055,818 7,055,818 4,091,971 4,091,971
Subtotal 457,073,702 457,073,702 854,131,848 854,131,848
Financial assets not measured at fair value :
Cash and cash
381,869,943 381,869,943 47,410,384 47,410,384
equivalents(*)
Short-term financial
426,324,000 426,324,000 450,000,000 450,000,000
instruments
Long-term financial
193,386 193,386 189,491 189,491
instruments
Trade and other
279,076,882 279,076,882 354,616,237 354,616,237
receivables
Deposits provided 45,893,773 45,893,773 46,812,354 46,812,354
Subtotal 1,133,357,984 1,133,357,984 899,028,466 899,028,466
Total 1,590,431,686 1,590,431,686 1,753,160,314 1,753,160,314
Financial liability carried at fair value :
Derivative liabilities 815,861,344 815,861,344 - -
Financial liability carried at amortized cost :
Trade and other
234,280,439 234,280,439 345,578,834 345,578,834
payables
Debentures 538,691,065 538,691,065 538,553,996 538,553,996
Borrowings 737,756,000 737,756,000 735,985,000 735,985,000
Subtotal 1,510,727,504 1,510,727,504 1,620,117,830 1,620,117,830
Total 2,326,588,848 2,326,588,848 1,620,117,830 1,620,117,830
(4) Fair value hierarchy

The following presents financial instruments measured and recognized at fair value as of the end of
1Q 2022 and 2021, are as follows :
① End of 1Q 2022
Level 1 Level 2 Level 3 Total
Financial assets :
Financial assets at
fair value through - 450,017,884 - 450,017,884
profit or loss
Derivative financial
- 7,055,818 - 7,055,818
instrument assets
Financial liabilities :
- 815,861,344 - 815,861,344
instrument liabilities
② End of 2021

Level 1 Level 2 Level 3 Total
Financial assets :
Financial assets at
fair value through - 850,039,877 - 850,039,877
profit or loss
- 4,091,971 - 4,091,971
instrument assets
(5) Valuation techniques and inputs
Valuation techniques and significant inputs used in measuring the fair value of financial instruments
classified as level 2 of the fair value hierarchy, are as follows :

Fair Value
Significant
Fair value measurement
End of 1Q 2022 End of 2021 unobservable inputs
Financial assets at fair value

450,017,884 850,039,877 March approach -
through profit or loss
Currency forward
Derivative financial instrument rate, interest rate,
6,056,102 3,475,382
assets (currency interest swap) Discount cash flow discount rate, and
model others
Derivative financial instrument Interest rate, discount
999,716 616,589
assets (interest swap) rate, and others
Derivative financial instrument Market price and
815,861,344 - Others
liabilities (stock warrants) issuance price
(*) On January 28, 2022, the Board of Directors of the Company resolved to increase its capital for the
acquisition of construction-in-progress and securities of other entity. And the Company recognized KRW
shareholders, which was recognized as a decrease in share premium.
(6) Net gains or losses by category of financial instruments
Net gains or losses on each category of financial instruments as of the end of 1Q 2022 and 2021, are
as follows :
Interest income
Gain on valuation Other income (*) Net income (loss)
(expenses)
2022 2022 2022 2022
2021 2021 2021 2021
1Q 1Q 1Q 1Q
Financial
assets at
5,133,630 2,390,085 - - (201,033) 7,452,557 4,932,597 9,842,642
amortized
cost
Financial
assets at
fair value
- - 20,350 10,162 127,107 49,894 147,457 60,056
through
profit or
loss
Derivative
- - 2,963,847 1,842,454 - - 2,963,8474 1,842,454
assets
Financial
liabilities
at (2,857,976) (3,904,087) - - 3,439,478 (331,740) 581,502 (4,235,827)
amortized
cost
Other
(59,809) (217,487) - - - - (59,809) (217,487)
liabilities
Total 2,215,845 (1,731,489) 2,984,197 1,852,616 3,365,552 7,170,711 8,565,594 7,291,838
(*) Other income and expenses include gain (loss) on foreign currency translations and transactions,
and gain (loss) on disposal of financial assets at fair value through profit or loss.
(5) Re-measurement details of fixed assets
No re-measurement of fixed assets was carried out during the reporting period.
IV. Directors’ Management Discussion & Analysis
Pursuant to the reporting guidelines set forth by the Financial Supervisory Service of the Republic of
Korea, the Management Discussion and Analysis section, reported in annual report, is not included in
the quarterly and half year reports.
V. Auditor’s Report
1. Matters Regarding Independent Auditor
A. Auditor’s name and opinion
Business
Auditor Auditor’s opinion Emphasis, etc. Key Audit Matters
year
- Securities & Futures

2022 Not applicable Commission’s ruling and - Not applicable
Samil PwC
1Q (*) administrative litigation and
prosecution investigation
- Inspect investment stocks in

associates and joint ventures for
- Securities & Futures impairment
Unqualified Commission’s ruling and - Appropriateness of CMO revenue
2021 Samil PwC
opinion administrative litigation and Recognition
prosecution investigation - Construction in Progress asset’s
existence and the occurrence of the
acquisition transaction
- Securities & Futures

- Inspect investment stocks in
Commission’s ruling and
associates and joint ventures for
Unqualified administrative litigation and
2020 Samil PwC impairment
opinion prosecution investigation
- Appropriateness of CMO revenue
- Initial adoption of K-IFRS in
recognition
separate financial statements
(*) A review of the quarterly financial statements was conducted and all matters were presented fairly, in all material respects.
※ Auditor’s opinion for 1Q 2022, 2021, and 2020 is on both separate and consolidated financial statements.
[2022 Audit and Review Schedule]

Item Date
Preliminary Review '22.03.21 ~ 03.25
1Q
Review '22.04.18 ~ 05.13
※ The schedule above is for the audit and review of separate and consolidated financial statements.
B. Audit service contract
(Unit: KRW Thousand, hour)
Contract Actual
Business
Auditor Details
year Audit Audit Audit Audit
fee hour fee hour
- Review of the interim separate/consolidated financial statements
2022 Samil
- Audit of separate/consolidated financial statements 1,480,000 9,828 280,000 1,421
1Q PwC
- Audit of Internal Control over Financial Reporting (ICFR)

Samil
2021 - Audit of separate/consolidated financial statements 1,490,000 10,228 1,490,000 10,229
PwC

Samil
2020 - Audit of separate/consolidated financial statements 1,280,000 9,102 1,280,000 9,412
PwC
C. Status of signing audit services related to the investee under the equity method with auditors
(Unit: KRW Thousand, hour)
Business year Contract date Service details Service period Service fee Remarks
2022 Audit of specific financial ‘22.03 ~

2022.04.15 300,000 -
1Q information for consolidated purpose ‘23.02
Audit of financial information of equity ‘21.03 ~

2021 2021.03.18 190,000 -
method investees ‘22.02
Audit of financial information of equity ‘20.03 ~

2020 2020.03.31 150,000 -
method investees ‘21.02
D. Non-audit service contract

(Unit: KRW Thousand, USD)
Business year Contract date Service details Service period Service fee Remarks
2022
- - - - -
1Q
Consulting service on matters regarding ‘21.02 ~

2021 2021.02.23 USD 295,000 -
overseas manufacturing plants ‘21.03
Consulting service on the establishment of ‘20.01 ~

2020 2020.01.02 KRW 490,000 -
overseas subsidiary ‘20.12
E. Contents of discussions about financial statements
Date Attendees Type Contents of discussion

Audit committee : 3 members
- Progress of key audit matters
Independent director: 1 director
1 2022.01.24 Face-to-face - Progress of annual accounting audit (financial
Company : Audit team leader & 4 others
statements/internal control over financial reporting)
Auditor : 1 Partner & 2 others
Diagnostic committee : 2 external experts
- Interim report on the progress of diagnosis committee’s
2 2022.02.04 Independent director: 1 director Face-to-face
investigation
Company : Audit team leader & 2 others
3 2022.02.25 Audit committee : 3 members,3 external Face-to-face - Conclusion of management and governing body
experts based on the results of diagnosis committee's
Independent director: 1 director investigation
Company : Audit team leader & 2 others - Results of key audit matters
- Year-End audit result and other essential
communication factors at the completion stage of the
audit
4 2022.04.27 Company : Audit team leader & 1 other Face-to-face - Key audit matters from 1Q Review
- Plan of annual accounting audit
F. Change of external auditor
On July 12, 2018 and November 14, 2018, the Company was notified of the designation of auditors for
3 years as a result of actions by the Securities and Futures Commission, and concluded an audit
contract with Samjong KPMG LLC and the external auditor of the 7th and 8th business years, while
signing a new contract with the designated auditor, Hanyoung EY. The Company has appointed Samil
PwC as an external auditor for three consecutive business years since 2019 in line with the Audit
committee's evaluation process in accordance with the Audit committee's operational regulations, as
the application to suspend the ruling of a request to withdraw the measure recommended by the
Securities & Futures Commission has been cited.
In accordance with Article 10 (4) of the Act on external audits of corporations and others and Article 12
(1) of the Enforcement Decree of the Same Act, the audit committee held a face-to-face meeting on
November 19, 2021 to appoint Samil Accounting Firm as the external auditor for 2022 and three
consecutive business years. Accordingly, the Company signed the audit contract to appoint Samil
Accounting Firm as the 12th~14th external auditor.
2. Matters Regarding Internal Control
Business
Auditor Audit opinions Remarks
year
2022 Samil
- -
1Q PwC
As of December 31, 2021, the Company maintained, in all material

Samil
2021 respects, effective Internal Control over Financial Reporting based on -
PwC
the ‘Internal Control-Integrated Framework’
As of December 31, 2020, the Company maintained, in all material

Samil
2020 respects, effective Internal Control over Financial Reporting based on -
PwC
the ‘Internal Control-Integrated Framework’
VI. Matters Regarding Executive Organizations
Including the Board of Directors
1. Matters Regarding the Board of Directors
A. Overview of the Board of Directors

The Company's Board of Directors (BOD) consists of three Executive directors (Kim Taehan, John Rim,
and Kim Dongjoong) and four Independent directors (Heo Geunnyoung, Eunice Kim, Lee Changwoo,
and Bahk Jaewan).
The BOD consists of the Management Committee, Audit Committee, Compensation Committee,
Independent Director Recommendation Committee, Related Party Transaction Committee, and ESG
Committee.
The Company currently separates the CEO and the Chairman position to enhance the independence
and transparency of the BOD. The board appointed the former CEO Kim Taehan as the Chairman, as
his managerial experiences enable him to mediate different opinions of Directors and make himself
most qualified to manage board activities.
The Company is undergoing a mid- and long-term review of whether to increase board members, as
the scale of business continuously expands.
Changes in Independent Directors

(Unit: person)
No. of independent Changes in independent directors

No. of directors
directors Appointment Dismissal Resignation
7 4 2 2 -
B. Agendas and Voting Results

Director
(Attendance rate)
No Date Agenda Result Kim John Kim Jeong Kwon Heo Eunice Lee Park
Tae Rim Dong Seok Soon Geun Kim Chang Jae
han joong woo jo nyung woo Wan
(100%) (100%) (100%) (100%) (100%) (100%) (100%) (100%) (100%)
※ Reported items:
1. Approval of FY2021 financial Approved For For For For For For For - -
statements and annual business report
1st ‘22.01.24 2. Approval of transactions with related Approved For For For For For For For - -
parties
3. Approval of charitable contribution of idle Approved For For For For For For For - -
raw materials
1. Signed stock purchase agreement Approved For For For For For For For - -
2nd ‘22.01.27
2. Paid-in capital increase Approved For For For For r For For For - -
1. Cancellation of signed stock purchase

3rd ‘22.01.27 agreement and paid-in capital increase Approved Absent For Absent For For For For - -
resolution
1. Signed stock purchase agreement Approved For For For For For For For - -
4th ‘22.01.28
2. Paid-in capital increase Approved For For For For For For For - -
※ Reported items:
- - - - - - - - - -
1. FY2021 Audit Committee activities
5th ’22.02.25 2. Operation status of internal
accounting management system - - - - - - - - - -
3. Evaluation and audit report of internal
accounting management system - - - - - - - - - -
Director
(Attendance rate)
No Date Agenda Result Kim John Kim Jeong Kwon Heo Eunice Lee Park
Tae Rim Dong Seok Soon Geun Kim Chang Jae
han joong woo jo nyung woo Wan
(100%) (100%) (100%) (100%) (100%) (100%) (100%) (100%) (100%)
4. FY2021 Audit performance report - - - - - - - - - -
5. Approval of payment of legal services fee
for management’s litigation - - - - - - - - - -
6. Assignment of employee stock ownership
※ Resolution Items: Approved For For For For For For For - -
1. Approval of meeting and objectives of
general meetings of shareholders.
1. Nomination of Board of Director's Approved For For For - - For For For For
6th ’22.03.29
committee members
1. Participation in paid-in capital increase by Approved For For For - - For For For For
related parties
th
7 ‘22.03.29 2. Review of compensation limit for directors Approved For For For - - For For For For
3. Signed contract to purchase 2nd Approved For For For - - For For For For
4. Approved For For For - - For For For For
※ From 11th Board of Directors meeting held on March 29, 2022, independent directors Kwon Soonjo and Jeong Seokwoo
resigned, and Lee Changwoo and Bahk Jaewan were newly appointed as independent directors.
※ Jan 24, 2022 (1st round), Details of “Approval of transactions with related parties”
- Company name : Samsung Engineering

- Content : P5, P6 project basic design service contract
- Amount : KRW 100 million
- Period : Feb. 2022 ~ Jun. 2022
※ Jan 28, 2022 (4th round), Details of “Approval of stock purchase agreement resolution”
- Company name : Biogen Therapeutics Inc.

- Content : Acquired 10,341,852 shares of Samsung Bioepis
- Amount : USD 2,300,000,000
(Purchase amount USD 2,250,000,000 and contingent consideration amount USD 50,000,000)
※ Mar 29, 2022 (7th round), Details of “Participation of paid-in capital with related parties”
- Company name : Samsung C&T Corporation, Samsung Electronics

- Content : Preemptive subscription rights due to paid-in capital increase
- Amount : 1) Samsung C&T Corporation : KRW 1,216.8 billion
2) Samsung Electronics : KRW 882.1 billion
C. Committees of the BOD
(1) Committees
Committee
Composition Name Purpose & authority Remarks
Name
[Purpose]
To deliberate the matters entrusted by the BOD out of
the Company’s material management information,
matters often entrusted by the BOD, and matters
(Chairperson) entrusted by the BOD as other material management
Management information
2 Executive John Rim
committee -
directors
(‘11.04.22) [Main authorities]
Kim Dongjoong
① General management
② Matters regarding finance
③ Other related matters
Committee
Composition Name Purpose & authority Remarks
Name
[Purpose]
To secure objectivity and transparency in determining
director compensation
[Main authorities]
(Chairperson)
3 Independent Bahk Jaewan ① Matters regarding the compensation limit of
Compensation
directors registered directors
committee -
1 Executive Heo Geunnyung
(‘16.08.10) ② Matters regarding performance evaluation criteria
director Eunice Kim
Kim Dongjoong of registered directors
③ Matters regarding the compensation system of
registered directors
④ Matters entrusted by the Board of Directors
regarding director compensation
[Purpose]
To deliberate large-scale related party transactions in
order to strength internal control over related party
transactions and external control over shareholders
and to enhance the efficiency of supervision over
illegal support
Related party (Chairperson)
transaction 3 Independent Heo Geunnyung
[Main authorities] -
committee directors
(‘16.08.10) Lee Changwoo ① To approve related party transactions
② To listen to the report of related party transactions
③ To order an ex-offcio investigation of related party
transactions
④ To suggest a corrective action against related
party transactions
[Purpose]
To deliberate policies regarding Environmental,
Social, and Corporate Governance issues including
Corporate Social Responsibilities, shareholder value
(Chairperson) enhancement, customer value enhancement and
Eunice Kim shareholding structure.
ESG
4 Independent
Committee -
directors Heo Geunnyung
(‘21.02.26) [Main authorities]
Lee Changwoo
Bahk Jaewan
① Matters regarding ESG strategy and policy
② Annual donation plan
③ Other important matters delegated by the Board
※ The composition of committees is as of March 31, 2022.

※ On March 29, 2022, independent directors Kwon Soonjo and Jeong Seokwoo’s terms expired, and Lee Changwoo and Bahk
Jaewan were newly appointed as independent directors.
※ The Audit Committee and Independent Director Recommendation Committee were excluded according to Corporate
Disclosure Guidelines set forth by the Financial Supervisory Service Authority of the Republic of Korea.
(2) Committee activities

※ The Audit Committee and Independent Director Recommendation Committee were excluded
according to Corporate Disclosure Guidelines set forth by the Financial Supervisory Service Authority
of the Republic of Korea.
① Management committee
Director
(Attendance rate)
Date Details of agendas Result
John Rim Kim Dongjoong
(-%) (-%)
- - - - -
② Compensation committee
Director
(Attendance rate)
Kwon Heo Eunice Kim
Soonjo Geun Kim Dong
nyung joong
(100%) (100%) (100%) (100%)
1. Assignment of employee stock ownership Approved For For For For
2. Review of 2022 individual annual income Approved For For For For
‘22.02.25 of executive directors
3. Review of 2022 compensation limit for Approved For For For For
registered directors
③ Related party transaction committee
Director
(Attendance rate)
Date Details of agendas Result Heo Lee Bahk
Geunnyung Changwoo Jaewan
(100%) (100%) (100%)
1. Appointment of chair of related party Approved For For For
transaction committee
‘22.03.29
2. Participation in paid-in capital increase by Approved For For For
related parties
※ Details of March 29, 2022 agendas
- Content : Participation in paid-in capital increase by related parties

- Company name : Samsung C&T Corporation, Samsung Electronics
- Content : Subscription of stock warrant from paid-in capital increase
- Amount : 1) Samsung C&T Corporation : KRW 1,216.8 billion
2) Samsung Electronics : KRW 882.1 billion
④ ESG committee
Director
(Attendance rate)
Eunice Jeong Kwon Heo
Kim Seok Soonjo Geun
woo nyung
(100%) (100%) (100%) (100%)
[Bill]
‘22.01.24 1. Approval of charitable contribution of idle Approved For For For For
raw materials
※ The ESG committee was newly established on February 26, 2021.
D. Independence of Directors
(1) Independence of directors

Directors are appointed at the general meeting of stockholders, and director candidates to be appointed
by the general meeting of stockholders are recommended by the Board of Directors, which is decided
as a bill to be submitted to the general meeting of stockholders. The Company ensures directors’
independence to make them objectively oversee the company business.
Relationship
Consecutive
Term with the
Name terms Appointment background Nominator Responsibility
expiration largest/major
(No.)
shareholder
- A professional enterpriser who

has been working as the CEO
since the foundation of the
Company and has been
improving the Company by
making important decisions with
a long-term view Executive
Kim ‘23 O Board of Affiliate
- Representative of South Korea’s Director,
Taehan AGM (3) Directors Executive
bio industry with high awareness Chair of BOD
and reliability in relation to global
pharmaceutical companies
- The company expects to lead
the company’s future contracts
and new business projects
- Served as CFO through sales /

marketing, production / RM /
SCM at global
biopharmaceutical companies
Genentech, Roche, etc., and the
possesses world's best global CEO,
John ‘23 network and expertise Board of Chair of Affiliate
X
Rim AGM Directors Management Executive
- Based on a high understanding
committee
of the industry as a whole, he is
expected to contribute to
strengthening business
capabilities and competitiveness
and expanding new orders.
- Contributed to the
transplantation of advanced
company management system
to the Company based on past
experience of working for
Samsung Electronics
Executive
Kim ‘25 O Board of Affiliate
- Expected to contribute to the Director
Dongjoong AGM (2) Directors Executive
Company's continued growth by CFO
overseeing HR, IT, Finance,
Business planning and Business
Innovation departments, which
are the company's key
management functions.
Relationship
Consecutive
Term with the
(No.)
shareholder
- As a legal expert (lawyer),

Served as presiding judge at the
Seoul Central District Court and
a professor at the Judicial
Independent
Research and Training institute Independent
director,
Heo ‘25 O director Affiliate
- As a legal expert with Chair of Related
Geunnyung AGM (1) recommendation Executive
considerable experience in legal party transaction
committee
practice and academic fields, the committee
Company looks forward to the
inspection and reinforcement of
existing legal system
- Global leader with excellent

knowledge in legal services and
communication skills based on
her experience as an in-house
lawyer, an executive and
independent director in a
number of financial companies
Independent Independent
Eunice ‘23 - In the process of collaborating director director, Affiliate
X
Kim AGM with global pharmaceutical recommendation Chair of ESG Executive
companies, communication skills committee Committee
and legal knowledge will be a
great asset, and she is expected
to reflect diversity in the
operation of the Board of
Directors as female independent
director.
- As an accounting expert (CPA)

and professor of business
administration major served as
chair of ethics committee at the
Korea Institute of Certified Public
Accountants
Independent
- Expected to perform objective Independent
director,
Lee ‘25 management role based on director Affiliate
X Chair of Related
Changwoo AGM accounting and management recommendation Executive
party transaction
expertise, and the Company committee
committee
looks forward to enhancing
financial soundness and
management transparency
based on financial management
and risk management
knowledge
Relationship
Consecutive
Term with the
(No.)
shareholder
- Possess a high level of

understanding of the operation
of the Board of Directors from
experience as multiple
independent directors
Independent
- Based on the experience of Independent
director,
Bahk ‘25 serving as the chairman of the director Affiliate
X Chair of
Jaewan AGM Board of Directors of global recommendation Executive
Compensation
companies and high-ranking committee
Committee
political positions, preemptive
risk review for business growth
and rational presentation of
management strategy for
business growth are expected.
※ From 11th Board of Directors meeting held on March 29, 2022, executive director Kim Dongjoong and independent director
Heo Geunnyung were re-appointed, and audit committee member Lee Changwoo and independent director Bahk Jaewan
were newly appointed.
(2) Independent director recommendation committee

The Company has created the independent director recommendation committee on August 10, 2016
for the recommendation of independent director candidates, and the committee will review their
competence and recommend qualified persons.
Director
(Attendance rate)
Name of
Date Details of agendas Result Kwon Jeong Eunice Kim
committee
Soonjo Seokwoo Kim Taehan
(100%) (100%) (100%) (100%)
※ Reported items:
1. Establishment of internal operating - - - - --
Independent
standards for a recommendation of
director
’22.02.25 candidates for independent director
recommendation
committee
[Bill] Recommendation of an Approved For For For For
independent director candidate
E. Expertise of Independent Directors
The Company operates the Board of Directors Secretariat consisting of 6 full-time staff, to support
independent directors perform their professional duties. The staff provide the directors with reference
materials corresponding to the meeting agendas well in advance the meeting. This enables directors
study and review each agenda discussed during the Board of Directors/Committee meetings. If
necessary, the Directors are provided with separate information sessions on any agenda and they are
also frequently provided updates on other key management issues.
(1) Secretariat for Independent directors
Name Number Department/Position Task
1 Center Leader, 1 team leader, 1 Group

General management and
HR Support Center 6 Leader, and 3 Pros
operation of Secretariat
(Average 2.2 years)
※ Average years refer to time performing work relevant to support activity
(2) Education program for Independent Directors

Reasons for
Date Educator Attendant Education contents
absence
- PwC CORPORATE DIRECTORS

2020.01.07 PwC Jeong Seokwoo -
EXHCNAGE (~1.08)
Jeong Seokwoo
2020.01.13 JP Morgan Kwon Soonjo - - JP Morgan Healthcare conference
Heo Geunnyung
Jeong Seokwoo
Korea Health Industry Kwon Soonjo
2020.05.18 - - BIO KOREA 2020 (Online)(~05.23)
Development Institute Heo Geunnyung
Eunice Kim
- 1st Forum for auditor and audit committee

2020.07.07 Audit Committee Forum Jeong Seokwoo -
members(2020)
- KPMG Webinar: study of audit committee

2020.07.24 Samjong KPMG Jeong Seokwoo -
practices through videos
Jeong Seokwoo
BIO KOREA 2021
Korea Health Industry Kwon Soonjo
2021.06.12 - (Conference on biopharmaceutical industry,
Development Institute Heo Geungnyeong
Exhibition of recent technology and product)
Eunice Kim
Jeong Seokwoo Business Transformation seminar for
Kwon Soonjo Carbon Neutral(Net Zero Transformation,
2021.09.13 Samil PwC -
Heo Geungnyeong Green Financing and Improvement of
Eunice Kim Transparency in Corporate Disclosures)
2. Audit System
A. Profile of the Member of the Audit Committee

Accounting and Finance expertise
Name Career Applicable
Expert type Related experience
status
- Basic qualifications :
- Chair of ethics committee, Korea Acquisition of a master's degree
Institute of Certified Public or higher related to accounting
Accountants (2020~present) and finance
- Professor, Seoul National ㆍDoctor of Business
University Business School Administration, UC Berkeley
(1992~present) (1987)
② Degree holder in
- Chairman of Board of Director, ㆍMaster of accounting science,
Lee the field of
Chang Korea Institute Association Yes University of Illinois Urbana-
accounting and Champaign (1982)
woo (2011~2013) finance - Work experience :
- Ministry of Economy and Finance, (Type 2) Over five years of overall work
Head of management evaluation
experience as a researcher or
team of Quasi-Government
assistant professor in accounting
Institution (2009-2011)
or finance fields at a research
- President, Korea Accounting institute or a university
Association (2008-2009) ㆍProfessor, Seoul National
University Business School
Accounting and Finance expertise
Name Career Applicable
Expert type Related experience
status
(1992~present)
- Legal Advisor, Pyeongan Law Firm

(2019~Present)
- Managing Partner, Pyeongan Law
Firm (2016~2019)
- Lawyer, GILDO Law Firm
Heo (2011~2016)
Geun - - -
- Senior Judge, Seoul Central
nyung
District Court (2004~2007)
- Professor, Judicial Research and
Training Institute (2001~2004)
- Chief Judge, Cheongju District
Court (1999~2001)
- Member, Korea Corporate
Governance Service
(2006~Present)
- Professor, Ewha W. University Law
School (2010~2021)
Eunice - Vice President/Chief Compliance
Officer, Hana Financial Group - - -
Kim
(2008~2010)
- Chief Compliance Officer, Japan
Citi Bank (2007~2008)
- Executive Vice President, Deputy
Minister for Legal Affairs, Korea Citi
Bank (2004~2007)
※ On March 29, 2022, the audit committee member Jeong Seokwoo and independent director Kwon Soonjo's terms expired.
※ On March 29, 2022, independent director Heo Geunnyung was re-appointed as an audit committee member, and Lee
Changwoo and Eunice Kim were newly appointed as independent directors.
B. Independence of Audit Committee Members
Relationship
Relationship
Appointment Reappointment with the
Name Recommendation Term with the
Background (No.) largest/major
Company
shareholder
- An accounting
expert (KICPA
and AICPA)
and doctorate
of Business
Administration.
he served as a
he has high
level of
understanding
in corporation
from multiple
independent
director
experiences.
- Expects Independent Affiliate
Lee contribution to director Executive
Chang enhancement 2022.03~2025.03 X -
Recommendation (SBL)
woo of Committee
competitivenes
s and
increasing the
rights and
interests of
stakeholders,
including
shareholders,
by performing
objective
management
supervisory
roles based on
expertise and
active board
activities
- As an expert in
legal field
(lawyer), He
served as
presiding judge
at the Seoul
Central District
Court and a
professor at the
Judicial
Research and
Training
institute Independent Affiliate
Heo
director O Executive
Geun - With 2022.03~2025.03 -
Recommendation (1) (SBL)
nyung considerable Committee
experience in
legal practice
and academic
fields, he will
play a crucial
role in
inspection and
reinforcement
of the
Company’s
legal system
Relationship
Relationship
Appointment Reappointment with the
Name Recommendation Term with the
Background (No.) largest/major
Company
shareholder
- Successfully
performed
various
positions such
as compliance
attorney at the
global
company,
independent
director, and
professor.
- Expects high
contribution in
inspection and
reinforcement Independent Affiliate
Eunice of the director Executive
2022.03~2023.03 X -
Kim Company’s Recommendation (SBL)
compliance Committee
monitoring
system and
practice of
ethical
management
system.
Expects
diverse and
strengthened
internal control
system as a
first female
independent
director.
The Company’s Audit committee is formed in accordance with Article 542-11 of the Commercial Act,
and three independent directors who constitute the Audit committee as stated above meet eligibility
requirements for both Independent directors and Audit committee members.
Details Qualifications Remarks
Consists of more than 3 directors Qualified(3) Article 415-2
Qualified
More than 2/3 of independent directors Article 415-2
(All independent directors)
More than one member must be an

Qualified
accounting or financial specialist
(1, Independent director: Article 542-11
prescribed by Presidential Decree.
Lee Changwoo)
Qualified
Representative of Audit committee must
(Independent director: Article 542-11
be an independent director
Lee Changwoo)
Other qualification
(Related parties of the largest Qualified Article 542-11
shareholders, etc)
One member of the Audit Committee is

Qualified
appointed by the resolution of the general
(Independent director: Article 542-12
meeting of shareholders after being
Lee Changwoo)
separated from other directors
Meanwhile, the Audit committee is eligible to request reports on business performance and financial
status from Directors and requests additional reviews and supplementation of data as needed.
C. Activities of Audit Committee
Director
(Attendance rate)
Jeong Kwon Heo Lee Eunice
Seokwoo Soonjo Geunnyung Changwoo Kim
(100%) (100%) (100%) (100%) (100%)
※ Reported Items:
1. 2021 financial statements and annual - - - -
‘22.01.24
business report
2. Audit activities by external auditor - - - -
※ Reported Items:
1. 2nd interim report from 3rd Assessment - - - -
committee
2. Audit activities by external auditor - - - -
3. Results of internal accounting - - - -
performance evaluation by the CEO
‘22.02.04 4. Performance and independence of - - - -
the Audit committee
5. Assessment result of the internal audit - - - -
department
6. Report on audit results of 1H 2021 - - - -
7. Report on the progress of major
issues - - - -
※ Reported Items:
‘22.02.15 1. 2nd Report on the progress of major - - - - Not Not
issues Applicable Applicable
(Newly (Newly
※ Reported Items: appointed) appointed)
1. 2nd Report on the results of internal - - -
-
accounting performance evaluation by
the CEO
2. 2nd Report on performance and - - -
‘22.02.21 -
independence of the Audit committee
3. 2nd Report on assessment result of - - -
-
the internal audit department
4. 3rd Report on the progress of major - - -
-
issues
※ Reported Items:
1. Operation status of internal - - - -
accounting control system
2. Progress of the assessment on - - - -
‘22.02.25 internal accounting control system by
PA
3. Progress of the end-of-year audit - - - -
※ Resolution Items:
1. Approval of agenda for the 11th AGM Approved For For For
※ Reported Items:
1. Entry education for newly appointed - - - -
auditors
2. Annual operation plan of the Audit - Not Not - - -
committee Applicable Applicable
‘22.03.29 - -
3. Annual plan of Internal accounting - (End of (End of -
management system term) term)
※ Resolution Items:
1. Appointment of chairman of audit Approved For For For
committee
D. Education Plan & Status of Audit Committee
(1) 2022 Education program for Audit Committee
Education plan
Name of education Educator
‘22.04 - Audit and Inspection conference Audit Committee Forum
‘22.05 - BIO KOREA 2022 Korea Health Industry Development Institute
‘22.07 - Seminar with external experts Internal Control Operation Group
(2) Previous education program
Reasons for
Date Educator Attendant Education contents
absence
Internal Lee Changwoo

- Entry education for newly appointed
2022.03.29 Accounting Heo Geunnyung -
auditors
Operation Group Eunice Kim
※ In order to enhance the Audit committee's understanding of internal accounting and business through communication with the
Audit committee, the Company has been delivering various information to the auditors in the form of newsletter, including
biweekly work, trends related to internal accounting, and the status of the Company and pharmaceutical industry.
E. Support Team for Audit committee

Position
Department No. Details
(Average service period)
1 Group Leader, 1 Pro - Operation of Audit Committee

Internal Control Operation Group 2
(2.7years) - Assessment of Internal Control
1 Team leader, 4 Pro - Support operation for Audit Committee

Audit Team 5
(1.2years) - Inspection of Internal Control process
※ Service years refer to time performing work relevant to support activity.
F. Compliance Officer
Name Career Qualification
- Master degree in Laws, Seoul National University (1996),
Moon 45th bar exam. Qualified
Hyung - Lawyer, Law firm KIM CHANG & LEE (2006~2017) (Article 542-13 Clause 5
Woo - Team leader, Legal Compliance Team, No. 1 of Commercial Act)
Samsung Biologics Co., Ltd. (2017~present)
G. Major Compliance Activities

The Company conducts regular/non-regular compliance activities at the workplace, and based on the
results of the activities, the Company is effectively supporting compliance activities so that the Company
and its employees can comply with all laws and regulations by reflecting the issues that need
improvement.
Dates Major Inspection & Activity details
2022.01 - Compliance education for experienced employees
2022.02 - Compliance education for entrance-level employees
- Compliance education for experienced employees
2022.03
- Compliance PR(Capital Markets Act, etc.)
H. Support Team for the Compliance Officer

Department No. Position (Service Period) Details
Legal - Inspection and education of CPs such as fair
10 Lawyers (2.7years)
Compliance 13 trade and anti-graft law
3 Pros (3.5years)
Team - Review of contracts and in-house regulations
3. Matters Regarding the Exercise of Shareholders’ Voting Rights
A. Voting System
Type Cumulative voting. Paper voting Electronic voting
Introduction Not Applicable Not Applicable Applicable
10th (2021)
Implementation - -
Annual General Meeting
B. Minority Shareholders’ Rights

No minority shareholders' rights were exercised during the reporting period.
C. Competition over Management Rights

No competition over management rights occurred during the reporting system.
D. Voting Shares
The Company has 66,165,000 shares of common stock outstanding, which account for 13.23% of the
total number of authorized shares (500 million shares). The number of shares available for exercising
the voting right is 66,113,694 shares excluding 51,306 shares in a special account of Samsung Life
Insurance, the Company’s financial affiliate company.
Number of
Classification Remarks
shares
Common stock 66,165,000 -
Number of outstanding shares (A)
Preferred stock - -
Number of shares with no voting rights Common stock - -

(B) Preferred stock - -
Number of
Classification Remarks
shares
Common stock - -
Number of shares with no voting rights
according to articles of incorporation (C) Preferred stock - -
Restricted by the
Insurance Business Act
Number of shares with limited voting rights under Common stock 51,306
(Special account -
relevant laws (D) Samsung Life Insurance)
Preferred stock - -
Common stock - -
Number of shares with revived voting
rights(E) Preferred stock - -
Number of shares with voting rights Common stock 66,113,694 -

(F = A - B - C - D + E) Preferred stock - -
E. Stock affairs
Article 11 (Issuance and allocation of shares)
① The Company may issue new shares with a resolution of the BOD by:
1. Granting the shareholders opportunities to subscribe for new shares in proportion to their
respective shareholding;
2. Granting specific persons (including the shareholders of the Company) opportunities to
subscribe for new shares to the extent of not exceeding 30/100 of the total number of
issued and outstanding shares (the total number of issued and outstanding shares herein
shall include new shares to be issued under this Sub-Paragraph) by a method other than
that under Sub-Paragraph 1 (i.e. private placement) for managerial purpose of the
Company such as improvement of financial structure, introduction of new technology,
strategic partnership, etc.;
3. Granting general public (including the shareholders of the Company) opportunities to
subscribe for new shares and allocating new shares to those who subscribe for such
shares to the extent of not exceeding 50/100 of the total number of issued and
outstanding shares (the total number of issued and outstanding shares herein shall
include new shares to be issued under this Sub-Paragraph) by a method other than that
under Sub-Paragraph 1.
② When allocating new shares under Sub-Paragraph 3 of Paragraph 1 above, the Company
shall allocate new shares with a resolution of the BOD by::
Details of stock 1. Allocating new shares to unspecified subscribers without differentiating the types of
warrants in the persons who are granted opportunities to subscribe for new shares;
articles of 2. Allocating new shares to the members of the Employee Stock Ownership Association
incorporation pursuant to applicable laws and granting general public opportunities to subscribe for new
shares, including unsubscribed shares;
3. Granting the shareholders opportunities to subscribe for new shares first and, if there are
any unsubscribed shares, then to general public opportunities to be allocated;
4. Granting specific types of persons opportunities to subscribe for new shares in accordance
with reasonable standards stipulated in applicable statutory provisions, such as demands
forecast to be made by investment trader or investment broker as underwriter or arranger.
③ When new shares are allocated under Sub-Paragraph 2 or 3 of Paragraph 1 above, the
items set forth in Section 416 (1), (2), (2-2), (3) and (4) of the Commercial Code shall be
notified to shareholders by way of individual or public notices no later than two (2) weeks
prior to the date of payment of the subscription price; provided, however, that such an
individual notice and public notice may be substituted by publishing a Report of Major Items
to the Financial Services Commission and the stock exchange under Article 165-9 of the
Financial Investment Services and Capital Markets Act.
④ The class, number, and issuance price of the new shares that are to be issued under any of
the provisions in Paragraph 1 shall be determined by a resolution of the BOD.
⑤ Any of the new shares that are not subscribed for or paid therefor by applicable payment
date shall be handled by a resolution of the BOD in accordance with applicable laws and
regulations.
⑥ Disposal of fractional shares created in the course of allocation of new shares shall be
determined by a resolution of the BOD.
⑦ In case of allocation of new shares under Sub-Paragraph 1 of Paragraph 1 above, the
Company shall issue the certificates of preemptive rights to the shareholders.
General Shareholders’ Within 3 months after the
Closing date December 31
Meeting business year ends
Closing date of
December 31
stockholders’ list
Closure of
From January 1 to January 31
stockholders’ list
Type of share
-
certificates
Transfer agent Korea Securities Depository
Privileges of
Not Applicable
shareholders
Homepage (https://www.samsungbiologics.com)
Public notice
In unavoidable circumstances, related information is published on Joongang Daily
※ With Act on Electronic Registration of Stocks, Bonds, etc. (“Electronic Securities Act”) taking effect Sep 16, 2019, rights
specified on stocks and subscription warrants are subject to mandatory electronic registration, therefore, “Stock types” are no
longer applicable.
F. Summary of Annual General Meeting Minutes

Date Agenda Result
- Approval of 9th period (2019.01.01~2019.12.31) financial statement
- Appointment of directors (Executive director – Kim Taehan and
2020.03.20 Approved
John Rim; & Independent director – Eunice Kim)
- Approval of compensation limit for Directors
2021.03.19 Approved
- Appointment of directors (Executive director – Kim Dongjoong; &
Independent directors –Heo Geunnyung and Bahk Jaewan)
- Appointment of independent director to serve as an Audit
2022.03.29 Approved
Committee member (Independent director – Lee Changwoo)
- Appointment of Audit Committee member (Heo Geunnyung and
Eunice Kim)
VII. Matters Regarding Shareholders
1. Stocks Held by the Largest Shareholder and Related Parties
A. Stocks held by the largest shareholder and related parties

(As of March 31, 2022) (Unit: Share, %)
Share number and ratio
Class of Beginning of period End of period

Name Relationship Remarks
stock
Shares Ratio Shares Ratio
Samsung C&T Largest Common

28,742,466 43.44 28,742,466 43.44 -
Corporation shareholder stock
Samsung Common
Related party 20,836,832 31.49 20,836,832 31.49 -
Electronics stock
Samsung Life
Common Open market
Insurance Related party 56,026 0.08 51,306 0.08
stock transaction
(special account)
Common Open market
Kim Taehan Related party 16,400 0.02 15,100 0.02
stock transactions
Common
Kim Dongjoong Related party 4,300 0.01 4,300 0.01 -
stock
Common
49,656,024 75.04 49,650,004 75.04 -
stock
Total
Preferred
- - - - -
stock
B. Overview of the largest shareholder
(1) Corporation information
Number of Chief Executive Officer Business Executive Largest Shareholder

Investors (Representative Member) (Business Member) (Largest Investor)
Name
(Number of
persons) Name Share(%) Name Share(%) Name Share(%)
Lee Jae Yong

Koh Jung Suk 0.00 - - 33.45
and others
Samsung
C&T 208,885 Oh Se Chul 0.00 - - - -
Corporation
Han Seung Hwan 0.00 - - - -
※ The number of investors above is the number of common stock shareholders of Samsung C&T Corporation recorded up to
the latest shareholder list closure date which is December 31, 2021. The shares of Chief Executive Officer, Business
Executive, and Largest Shareholder are recorded up to the disclosure date December 31, 2022.
Details of changes in Chief Executive Officer, Business Executive, and Largest Shareholder
Chief Executive Officer Business Executive Largest Shareholder

Date of (Representative Member) (Business Member) (Largest Investor)
change
Name Share(%) Name Share(%) Name Share(%)
2018.03.22 Choi Chi Hun - - - - -
2018.03.22 Kim Shin - - - - -
2018.03.22 Kim Bongyung - - - - -
2018.03.22 Lee Youngho - - - - -

2018.03.22 Koh Jung Suk 0.00 - - - -
2018.03.22 Chung Keumyong - - - - -
2021.03.19 Lee Youngho - - - - -
2021.03.19 Chung Keumyong - - - - -
2021.03.19 Oh Se Chul 0.00 - - - -
2021.03.19 Han Seunghwan 0.00 - - - -

※ On March 22, 2018, Co-Chief Executive Officers Choi Chi Hun, Kim Shin and Kim Bong Yung resigned. Lee Young Ho, Koh
Jung Suk and Chung Keum Yong were newly appointed as Co-Chief Executive Officers.
※ On March 19, 2021, Co-Chief Executive Officers Lee Young Ho and Chung Keum Yong resigned. Oh Se Chul and Han Seung
Hwan were newly appointed as new Co-Chief Executive Officers.
※ For changes in the share ownership status during the period of public disclosure, changes in ownership and statement by
dates are separately disclosed in the electronic disclosure system, so please refer to the "1Q 2022 report" by Samsung C&T
Corporation.
(2) Financial status

(Unit: KRW Mil)
Samsung C&T Corporation

Total assets 55,245,423
Total liabilities 21,892,979
Total stockholder’s equity 33,352,444
Sales 34,455,182
Operating income 1,195,983
Current net income 1,829,084
※ The values above are based on the consolidated financial statements as of December 31, 2021.
(3) Business status
Samsung C&T Corporation, the largest shareholder of Samsung Biologics Co., Ltd., is located in 26,
Sangil-ro 6-gil, Gangdong-gu, Seoul, Republic of Korea, and engages mainly in business areas at home
and abroad: the engineering & construction sector including building, civil infrastructure, plant, and
housing; the trading & investment sector including natural resources, steel, chemical & industrial
materials, and living industrial; the fashion sector including apparel products manufacturing, sales
business and textile processing; the resort sector including landscaping and Everland (drier park),
Caribbean Bay (water park), golf club, and catering (Samsung Welstory) and the biopharmaceutical
outsourcing & biosimilar sector.
※ For more details regarding largest shareholders, please refer to the "1Q 2022 report" by Samsung &T Corporation disclosed
in the electronic disclosure system.
2. Changes of the Largest Shareholder
Changes of the largest shareholder during the time period subject to disclosure are as follows:
(As of March 31, 2022) (Unit: share, %)

No. of stocks Cause of
Date Largest shareholder Share ratio Remarks
held Change
2011.04.22 (Old) Cheil Industries 600,000 40,00% Establishment -
2011.04.22 Samsung Electronics 600,000 40.00% Establishment -
2015.09.02 Samsung C&T Corporation 14,069,833 51.04% Note1) Note2)

Note1) Samsung C&T Corporation is the sole largest shareholder, as Cheil Industries Inc., a survival corporation after merger
between Samsung C&T Corporation and (old) Cheil Industries Inc. which was the largest shareholder was renamed to
Samsung C&T Corporation.
Note2) Currently, the largest shareholder Samsung C&T Corporation has 28,742,466 shares which is 43.44% stake.
3. Distribution of Shares
A. Shareholders with over 5% ownership and stocks held by the employee stock
ownership association
Number of shares
Classification Name of shareholders Share ratio Remarks
owned
Samsung C&T Corporation 28,742,466 43.44% -
Shareholders with
Samsung Electronics 20,836,832 31.49% -
over 5% ownership
National Pension Service 4,011,752 6.06% -
Employees Share Ownership Association 23,017 0.03% -
B. Minority shareholders
Shareholders Shares owned
Category No. of No. of Remarks
No. of total No. of total
Minority Ratio Minority Ratio
shareholders shares
shareholders shares
Shareholders
Minority holding stocks
120,604 120,625 99.99 13,341,555 66,165,000 20.18
shareholders below 1/100 of total
stocks issued
4. Share Price and Stock Transactions
(Unit: KRW, share)
Class '22.03 '22.02 '22.01 ‘21.12 ‘21.11 ‘21.10
Highest 844,000 800,000 911,000 958,000 892,000 898,000
Share
Lowest 764,000 740,000 712,000 872,000 819,000 791,000
price
Average 808,905 766,833 823,200 903,955 857,318 856,526
Common
stock Highest
84,286 171,625 170,082 285,399 119,393 170,809
(day)
Trading Lowest
31,750 33,131 37,566 39,525 24,821 30,213
volume (day)
Monthly
1,019 1,077 1,503 1,992 1,311 1,267
(thousand)
※ The Company was listed on the stock market as of November 10, 2016.
VIII. Matters Regarding Executives and Employees
1. Executives and Employees
A. Registered executives
No. of shares held Term

Date of Registered Full/ Length of expiration
Name Gender Position Responsibility Career
birth Executive Part-time service
Common Preferred
- Former CEO, Samsung Biologics

Executive Chair of the 11 years
Kim Taehan M 1957.11 President Full-time - Doctor of Chemical Engineering, University 15,100 - 2023.03.20
Director Board 1 month
of Texas, Austin
- Center Leader, CMO2 Center, Samsung

Executive Biologics 3 years
John Rim M 1961.10 President Full-time CEO - - 2023.03.20
Director - Master of Business Administration, 7 months
Northwestern University
- Head of Office, Corporate Management
Office, Samsung Biologics
Senior Business - Head of Planning Support Team,
Kim Executive Mechatronics & Manufacturing Technology 7 years
M 1965.02 Vice Full-time Support Center 4,300 - 2025.03.21
Dongjoong Director Center, Samsung Electronics 5 months
President Leader
- Master of Business Administration, Ajou
University
- Chair of
Related Party
Transaction - Managing Partner, Pyeong An Law Firm
Heo Independent
M 1956.01 Director Part-time Committee, - Senior Judge, Seoul Central District Court - - 3 years 2025.03.21
Geunnyung Director
- Audit - Master of Law, Seoul National University
Committee
Member
- Vice Chairman, International Association of
Korean Lawyers
Eunice Independent Chair of ESG - Professor, Ewha W. University Law School
W 1959.03 Director Part-time - - 2 years 2023.03.20
Kim Director Committee - Vice President/Chief Compliance Officer,
Hana Financial Group
- Juris Doctor, Yale University Law School
- Honorary professor, Seoul National

Lee Independent Chair of Audit University Business School
M 1954.01 Director Part-time - - 1 month 2025.03.21
Changwoo Director Committee - Chair of Ethic Committee, Korean Institute of
Certified Public Accounts
- Doctor of Business Administration, UC
Berkeley
- Honorary professor, Public Administration

Chair of department, Sungkyunkwan University
Bahk Independent
M 1955.01 Director Part-time Compensation - - 1 month 2025.03.21
Jaewan Director - Chairman of the director, Hansun Foundation
Committee
- Doctor of Public Policy , Harvard University
※ From 11th Board of Directors meeting held on March 29, 2022, Lee Changwoo and Bahk Jaewan were newly appointed as independent directors, and independent directors Kwon Soonjo and
Jeong Seokwoo resigned due to end of term.
※ Shares with no voting rights only include preferred shares. For current updates on certificate of preemptive right to new stocks from a paid-in capital increase, please refer to the ownership
report of executives and major shareholders posted on March 16th ~23rd.
※ Number of shares held by executives as of March 31, 2022. For subsequent changes, please refer to the ownership report of executives and major shareholders at the DART (Data Analysis,
Retrieval and Transfer System
B. Unregistered executives
No. of shares
owned
Date of Registration Employment Term of
Name Gender Position Responsibility Career With Without
birth status status service
voting voting
rights rights
- Head of Office, New Business Project Office,
Executive EPCV Center Samsung Engineering 1 year
Lo Kun M 1963.01 Unregistered Full-time - -
Vice President Leader - Doctor of Chemical Engineering, Seoul National 4 months
University
- Team Leader, Global BD Team 2, Samsung

Global Business Biologics
Executive 6 years
James Park M 1966.04 Unregistered Full-time Operation Center 1,900 -
Vice President - Master of Industrial Engineering, Columbia 5 months
Leader
University
- Quality Executive, Lonza

Sam Executive Quality Center 2 years
M 1963.03 Unregistered Full-time - Master of Atomic Nucleophysics, Concordia 739 -
MacHour Vice President Leader 10 months
University
- Center Leader, CSC Center, Samsung Biologics

Yoon Executive 10 years
M 1963.08 Unregistered Full-time Executive Advisor - Master of Technology Management, State 1,540 -
Hoyeol Vice President 5 months
University of New York, Stony Brook
Global Information& - Team Leader, GIO Team, Samsung Biologics

James Executive 7 years
M 1967.08 Unregistered Full-time Marketing Center - Master of Business Administration, University of 711 -
Choi Vice President 8 months
Leader Southern California
Pierre Executive Manufacturing - Site Head, Lonza

M 1968.09 Unregistered Full-time - - 7 months
Catignol Vice President Center Leader - Master of Industrial Engineering, ECAM Lyon
- Team Leader, Global Employee Satisfaction

Kim Executive Global Support Team(HR), Samsung Biologics 6 years
M 1964.05 Unregistered Full-time 1,030 -
Yongsin Vice President Center Leader - Russian Language & Literature, Kyung Hee 4 months
University
- Business Unit Leader, DS, Samsung Biologics

Daniel Manufacturing 8 years
M 1951.01 Vice President Unregistered Full-time - Bachelor of biology, Florida International
Slone Center Executive 4 months
University
- Vice President, Life Science Division, LG
Kim Chemical
W 1974.05 Vice President Unregistered Full-time IR Team Leader 5 months
Changsook
- Master of Pharmacology, University of Arizona
- CEO, Lumebio
Kang
W 1972.09 Vice President Unregistered Full-time CDO Team Leader - Master of Medicine, Sookmyung Women’s 5 months
Jahoon
University
- Managing Director, Global Operations Division,

Lee Technology Support Celltrion
M 1972.11 Vice President Unregistered Full-time 4 months
Sangyoon Center Leader
- Doctor of biotechnology, Inha University
- Team Leader, Facility Maintenance Team,

Lee Facility Technology Samsung Biologics 4 years
M 1969.12 Vice President Unregistered Full-time - -
Chungwoo Team Leader - Bachelor of Electrical Engineering, Hanyang 10 months
University
Shim - Team Leader, Finance Team, Samsung Biologics 4 years

M 1968.01 Vice President Unregistered Full-time Executive Advisor 300 -
Byunghwa - Bachelor of Economics, Sogang University 1 month
- Quality & Compliance Executive Director, Arkon

Corporate QA Team Pharma
Keith Ellis M 1967.08 Vice President Unregistered Full-time - - 9 months
Leader
- Bachelor of Microbiology, University of Memphis
- Group Leader, Information Security

Group(Mobile), Samsung Electronics 2 years
Kim Kijoong M 1969.08 Vice President Unregistered Full-time ISA Team Leader 20 -
- Bachelor of Inorganic Material Engineering, 3 months
Kyoungbuk National University
- Team Leader, CDO Business Team, Samsung

Yang Development Sales Biologics 2 years
W 1974.12 Vice President Unregistered Full-time - -
Eunyoung Team Leader 2 months
- Bachelor of Pharmacy, Seoul National University
- Team Leader, DS3 Cell Culture Team, Samsung

Park Biologics 2 years
M 1973.12 Vice President Unregistered Full-time EPM Team Leader 330 -
Segang - Bachelor of Chemical Engineering, Inha 2 months
University
- Team Leader, DS3 MSAT Team, Samsung

Manufacturing Biologics
Jin 2 years
M 1966.10 Vice President Unregistered Full-time Technical Operation 171 -
Yonghwan - Doctor of Molecular Biology, Seoul National 2 months
Team Leader
University
Moon Compliance Team - Lawyer, Kim Chang & Lee Law Firm 1 year
Hyungwoo Leader - Master of Law, Seoul National University 3 months
Corporate - Team Leader, Engineering Technology Team,

Seo Samsung Biologics 1 year
M 1979.01 Vice President Unregistered Full-time Engineering Team 700 -
Sangwon 3 months
Leader - Master of Life Science, POSTECH
- Group Leader, Open Innovation Group, Samsung

Lim Business Strategy Advanced Institute of Technology 1 year
Heekyun Team Leader 3 months
- Bachelor of Life Science, POSTECH
- Group Leader, Human Resource Group(North

Park HR Support Center America), Samsung Electonics
M 1974.01 Vice President Unregistered Full-time - - 4 months
Yong Leader - Doctor of Business Administration, Chung-ang
University
- Team Leader, Operational Excellence, Samsung

Jo Biologics
M 1975.01 Vice President Unregistered Full-time DS Team Leader 250 - 4 months
Youngjin - Master of Food Engineering, Seoul National
University
Operational - Team Leader, Plant #3, Samsung Biologics

Kim
W 1981.09 Vice President Unregistered Full-time Excellence Team - Master of food science and biotechnology, Seoul - - 4 months
Heejung
Leader National University
Lee CDO Development - Part Leader, USP2, Samsung Biologics

M 1973.12 Vice President Unregistered Full-time 300 - 4 months
Jaesun Team Leader - Master of Biochemistry, Chungbuk University
Heo Finance Team - Business Support Group, Samsung Electronics

Doyoung Leader - MBA, Indiana University
- Team Leader, Alliance Management, Samsung

Kevin Strategic Operations Biologics
Sharp Team Leader - Master of Business Administration, Temple
University
- Quality Operations Team, Samsung Biologics

Jo Beth Quality Operations
W 1965.12 Vice President Unregistered Full-time - Master of Neuroscience, University of California, - - 4 months
DeFreitas Team Leader
San Francisco
※ Number of shares held by executives is as of March 31, 2022. For subsequent changes, refer to the ownership report of executives and major shareholders at the DART (Data Analysis, Retrieval
and Transfer System)
※ Shares with no voting rights only include preferred shares. For current updates on certificate of preemptive right to new stocks from a paid-in capital increase, please refer to the ownership
report of executives and major shareholders posted on March 16th ~23rd.
C. Registered executives with concurrent positions
Interlocking executive Interlocking company
Name Position Name Position

Lo Kun Executive Vice President Samsung Bioepis Other non-executive director 2022.02 ~ present
Eunice Kim Director U-young Industrial Executive director 2018.06 ~ present
Hanwha General
Lee Changwoo Independent director Independent director 2021.03 ~ present
Insurance
Bahk Jaewan Independent director Hankook & Company Independent director 2022.03 ~ present
※ As of February 9, 2022, President John Rim's term as an interlocking executive of the Company has expired, and Vice
President
Lo Kun has been appointed as a non-executive director of Samsung Bioepis Co., Ltd.
D. Changes of unregistered executives after reporting date

Classification Position Name Date of Birth Tasks Reason Date of Change
Vice Development Sales Termination
Retirement Yang Eunyoung 1974.12 2022.04.30
President team leader of contract
E. Employees
Employee Non-Employee
No. of employees
Per
Regular Average Gross Remarks
Business Fixed-term workers capita
Gender workers Total length of annual M W Total
unit average
(Part-time (Part-time service salary
All All salary
worker) worker)
Manufacturing M 1,306 - 90 - 1,396 3.1 - -
Manufacturing F 623 - 46 - 669 2.7 - -
Research M 552 - 53 - 605 3.7 - -
Research F 733 - 31 - 764 3.5 - -
Support M 513 - 19 - 532 3.7 - - 418 239 657
Support F 282 - 12 - 294 3.6 - -
Total no. of M 2,371 - 162 - 2,533 3.3 44,264 18
employees F 1,638 - 89 - 1,727 3.2 26,983 16
Total 4,009 - 251 - 4,260 3.3 71,247 17 -
※ Gross annual salary is based on gross salary in the statement of earned income payments to be submitted to a competent tax
office in accordance with Article 20 of the Income Tax Act.
※ The number of employees above is based on headquarters and registered executives (7 members) are excluded.
The number of employees includes those on leave of absence.
※ The average salary per person was calculated based on the annual average number of employees of 4,213 (male: 2,505,
female: 1,708).
F. Compensation of unregistered executives

No. Gross annual salary Per capita average salary Remarks
Unregistered executives 28 2,561 91 -
※ In the case of unregistered executives who were elected in the current year, only the compensation paid after the date of
election was calculated.
2. Executive Compensation
<Compensation of Directors and auditors>
(1) Compensation approved at the Annual General Meeting of shareholders

(Unit: KRW Mil)
Category No. Amount approved Remarks

Executive directors
(Excluding independent
3 - -
directors, member of audit
committee)
Independent directors
(excluding member of audit 1 - -
committee)
Members of Audit committee 3 - -
Total 7 15,000 -
※ The approval amount at the shareholders’ general meeting is compensation limit for directors approved through the
resolution by the shareholders’ general meeting on March 29, 2022 in accordance with Article 388 of the Commercial Act
and the articles of incorporation.
(2) Compensation paid

2-1. Total compensation paid for directors and auditors
(Unit: KRW Mil)
Average compensation
Number of persons Total compensation Remarks
per person
7 647 92 -
2-2. Compensation paid, by Director type

(Unit: KRW Mil)
Avg. compensation
Category Number of persons Total compensation Remarks
per person
Executive directors 3 563 188 -
Independent directors 1 21 21 -
Members of Audit
3 63 21 -
committee
Auditors - - - -
※ The Audit committee consists of three independent directors.

※ The number of persons is as of March 31, 2022.
※ Total compensation is the amount of income paid based on the Income Tax Act to registered directors in office or retired,
independent directors, and members of Audit committee as the status of registered executive during the business year in
accordance with Article 159 of the Financial Investment Services and Capital Market Act and Article 168 of the Enforcement
Decree of the Act.
※ Average compensation per person is calculated by dividing total compensation by number of persons.
(3) Criteria and methodology

- Compensation for registered directors (3 Executive directors and 4 Independent directors) is paid
within the compensation limit approved by the Annual General Meeting in accordance with Article
40 of the Company’s Articles of Incorporation.
- Total compensation is the amount exclusive of labor costs for appropriation. Average
compensation per capital is calculated by dividing total compensation by number of persons.
<Compensation for Executive Directors and Auditors>

Individual compensation amount is reported twice annually (Half and Annual Report).
< Compensation status of top five individuals among individuals paid above KRW 500 million >
Individual compensation amount is reported twice annually (Half and Annual Report).
< Grant and execution of stock option>
Not applicable as of the date when the quarterly report is submitted.
IX. Matters Regarding Affiliates
A. Overview of Affiliates(Summary)
(1) Overview of affiliated group

This section was excluded on Quarterly Report according to Corporate Disclosure Guidelines set forth
by the Financial Supervisory Service Authority of the Republic of Korea
For details, please refer to 2021 Annual Report submitted on March 21, 2022.
B. Equity investments in other corporations(Summary)

Number of investee Investment amount
Increase(Decrease)
Classification Beginning Ending
Listed Unlisted Total Acquisition Valuation
Book Value Book Value
(Disposal) gain(Loss)
Management
- 4 4 541,389 - 3,814 545,203
Participation
General
- - - - - - -
Investment
Simple
- - - - - - -
Investment
Total - 4 4 541,389 - 3,814 545,203
※ For details, refer to XII. Table of Information – 3. Investments in other companies
C. Concurrent position with other affiliates

Director Concurrent position
Name Position Company name Position Duration
Other non-executive
Lo Kun Senior Vice President Samsung Bioepis 2022.02 ~ present
director
※ As of February 9, 2022, President John Rim's term as an interlocking executive of the company has expired, and Vice President
Lo Kun has been appointed as a non-executive director of Samsung Bioepis Co., Ltd.
X. Transactions with Stakeholders (Related Party Transactions)
1. Credit Offerings for Affiliates and Subsidiaries
A. Provisional payments and loans (incl. securities loan)

- Not applicable
B. Collateral provided
- Not applicable
C. Debt guarantee
- Not applicable
2. Acquisitions and Disposals of Assets with Affiliates and Subsidiaries
A. Acquisitions and disposals of assets

- Not applicable
B. Purchase or sale of securities

- Not applicable
C. Investment and disposal of invested shares

- Not applicable
3. Business transactions with affiliates and subsidiaries

- Not applicable
4. Transactions with stakeholders other than affiliates and subsidiaries

- Not applicable
XI. Other Information
1. Public Disclosure and Shareholder Meetings
A. Progress and Change of Notices

Disclosure
Title Details Progress
date
◦ Overview
- Contract name : Outsourced drug manufacturing
Entering into - Contract amount : USD 291,788,251.79
‘16.11.15 Single Sales or - Counterpart : Cilag GmbH International In progress
Supply Contract - Contract period : 2016. 11. 15 ~ Contract end date
※ The disclosure of the confidential details of contract end
date is reserved.
◦ Overview
Entering into - Contract amount : USD 55,513,715
‘17.07.04 Single Sales or - Counterpart : Sun Pharma Global FZE In progress
date is reserved.
◦ Overview
‘17.07.21 Single Sales or - Counterpart : Pharmaceutical company in Europe In progress
date is reserved.
◦ Overview
Entering into - Contract name : Outsourced drug manufacturing
‘17.11.08 Single Sales or - Contract amount : USD 7,212,800 In progress
Supply Contract - Counterpart : Checkpoint Therapeutics, Inc.,
- Contract period : 2017. 11. 8 ~ 2022. 11. 9
◦ Overview
‘17.12.21 Single Sales or - Counterpart : UCB In progress
date is reserved.
◦ Overview
Supply Contract - Counterpart : Pharmaceutical company in US
- Contract period : 2018. 2. 21 ~ 2026. 12. 31
◦ Overview
‘18.04.30 Single Sales or - Counterpart : Pharmaceutical company in Swiss In progress
Supply Contract - Contract period : 2018. 4. 30 ~ 2025. 12. 31
date is reserved.
◦ Overview
‘18.06.01 Single Sales or - Counterpart : Ichnos Sciences In progress
date is reserved.
◦ Overview
‘18.08.14 Single Sales or - Counterpart : Pharmaceutical company in Asia In progress
date is reserved.
◦ Overview
Supply Contract - Counterpart : Gilead Sciences, Inc.
- Contract period : 2018. 9. 11 ~ 2025. 12. 31
◦ Overview
Supply Contract - Counterpart : Cytodyn Inc.
- Contract period: 2019. 4. 1 ~ 2027.12.31
◦ Overview
date is reserved.
◦ Overview
date is reserved.
◦ Overview
date is reserved.
◦ Overview
- Contract name: Outsourced drug manufacturing
‘19.05.17 Single Sales or - Counterpart : UCB In progress
date is reserved.
◦ Overview
Entering into
‘19.11.28 Single Sales or In progress
- Contract amount : USD 19,129,700
Supply Contract
- Counterpart : Pharmaceutical company in Asia
- Contract period : 2019. 11. 28 ~ Contract end date
date is reserved.
◦ Overview
‘19.12.03 Single Sales or - Counterpart : Pharmaceutical company in US In progress
※ The disclosure of the confidential details of contract
end date is reserved.
◦ Overview
Supply Contract - Counterpart : GlaxoSmithKline Trading Services Limited
- Contract period : 2020. 5. 21 ~ 2028. 12 31
◦ Overview
‘20.07.20 Single Sales or - Counterpart : H. Lundbeck A/S In progress
※ The disclosure of the confidential details of counterpart &
contract end date is reserved.
◦ Overview
Entering into - Contract name: Outsourced drug manufacturing
‘20.07.28 Single Sales or - Contract amount: USD 268,349,994 In progress
Supply Contract - Counterpart: Eli Lilly and Company
- Contract period: 2020. 7. 21 ~ 2026.08.30
◦ Overview
Supply Contract - Counterpart: Immunovant Sciences GmbH
- Contract period: 2018. 12. 18 ~ 2029. 12. 31
◦ Overview
Supply Contract - Counterpart: GlaxoSmithKline Trading Services Limited
- Contract period: 2020. 4. 9 ~ 2023. 12. 31
◦ Overview
Supply Contract - Counterpart: AstraZeneca AB
- Contract period: 2020. 6. 23 ~ 2028.12.31
◦ Overview
Supply Contract - Counterpart: AstraZeneca UK Ltd.,
- Contract period: 2020. 9. 21 ~ 2023.12.31
◦ Overview
Supply Contract - Counterpart: Checkpoint Therapeutics, Inc.,
- Contract period: 2020. 10. 02 ~ 2030. 10. 02
◦ Overview
Supply Contract - Counterpart: Pharmaceutical company in US
- Contract period: 2020. 10. 28 ~ 2030.12.31
◦ Overview
Supply Contract - Counterpart: FibroGen, Inc.
- Contract period: 2020. 9. 18 ~ 2022.12.31
◦ Overview
Supply Contract - Counterpart: F.Hoffmann-La Roche Ltd
- Contract period: 2020. 6. 1 ~ 2024.12.31
◦ Overview
Supply Contract - Counterpart: F.Hoffmann-La Roche Ltd
- Contract period: 2020. 6. 1 ~ 2024.12.31
◦ Overview
Important - Contract name: Outsourced drug manufacturing LOI
‘21.09.29 management - Contract amount: USD 41,510,000 In progress
matters - Counterpart: MSD International Business GmbH
- Contract period: 2021. 9.29 ~ Contract date
◦ Overview
- Contract name: Outsourced drug manufacturing LOI
Important - Contract amount: USD 56,581,000
‘21.12.23 management - Counterpart: Pharmaceutical company in Europe In progress
matters - Contract period: 2021.09.29 ~ 2022. 06.30
※ The disclosure of the confidential details of counterpart &
contract end date is reserved.
◦ Overview
'22.03.28 Single Sales or - Contract amount: USD 92,041,300 In progress
Supply Contract - Counterpart: Eli Lilly Kinsale Limited
- Contract period: 2019.12.20 ~ 2029.12.31
2. Contingent Liability
A. Litigations
The Company’s litigations in progress are as follows:

Plaintiff Defender Details Status
On October 8, 2018, the Company filed administrative The Seoul Administrative
litigation in the Seoul Administrative Court to withdraw Court ruled to cancel the
Securities & the measure recommended by the Securities & Futures Securities and Futures
Samsung
Futures Commission to designate an auditor to the Company Commission's
Biologics
Commission for three years and dismiss the responsible officer administrative disposition
regarding that the details of the joint venture agreement imposed on SBL on
are not stated in the notes to the financial statements. September 24th, 2020.
On November 28, 2018, the Company filed
administrative litigation in the Seoul Administrative
Court to withdraw the measure recommended by the
Securities & Legal procedures in
Securities & Futures Commission to designate an
Futures progress after the
auditor to the Company for three years and dismiss the
Samsung Commission, litigation was filed in the
responsible officer regarding that the details of the joint
Biologics Financial Seoul Administrative
venture agreement are not stated in the notes to the
Services Court on November 27,
financial statements as well as the measure ordered by
Commission 2018.
the Financial Services Commission to rewrite the
financial statements (2012~2018.6.30) and
subsequently impose a fine of KRW 8 billion.
On April 29, 2019, 355 people filed a suit in the Seoul

Legal procedures in
Central District Court for damages against the company
Kang and Samsung progress after a suit was
and 4 other parties.(Amount : KRW 8,449,205,474) The
354 Biologics filed in the Seoul Central
plaintiffs claimed that they have experienced financial
others and 4 others District Court on April 29,
losses, for the Company disclosed business reports
2019.
with false information against the accounting standards.
32 people filed a suit in the Seoul Central District Court

for damages against Samsung C&T Corporation and
Legal procedures in
Samsung 19. (Amount: KRW 200,320,000) The plaintiffs claimed
Shim progress after a suit was
C&T that they have experienced financial losses, for the
and filed in the Seoul Central
Corporation Company concealed important information regarding its
31 others and 19 others control over Samsung Bioepis Co., Ltd., and that District Court on February
17, 2020.
resulted in an unfair swap ratio between Samsung C&T
and Cheil Industries.
9 people filed a suit in the Incheon District Court for

damages against the Company. (Amount: KRW Legal procedures in
Chung
Samsung 437,944,500) The plaintiffs claimed that they have progress after a suit was
and
Biologics experienced financial losses in form of a decline in filed in the Incheon District
8 others
stock price, for the Company applied equity method of Court on March 4, 2020.
accounting against the accounting standards.
Company Y and 18 other parties filed a suit in the

Seoul Central District Court for damages against
Samsung C&T Corporation and 23. (Amount: KRW Legal procedures in
Samsung
Company 209,000,000) The plaintiffs claimed that they have progress after a suit was
C&T
Y and experienced financial losses, for the Company filed in the Seoul Central
Corporation
18 others concealed important information regarding its control District Court on January
and 23 others
over Samsung Bioepis Co., Ltd., and that resulted in an 21, 2021.
unfair swap ratio between Samsung C&T and Cheil
Industries.
- In December 2020, Biogen Therapeutics Inc. has filed an arbitration with the International Chamber of Commerce (ICC)
against the Company in connection with the interpretation of some of the terms of the Samsung Bioepis Co., Ltd. joint venture
agreement with the Company, but was suspended the current arbitration process in accordance with the agreement of both
companies in February 2022. In April 2022, Biogen and the Company agreed to terminate the arbitration procedure.
B. Details of promissory note and check for guarantee

- Not applicable
C. Details of collateral provided and debt guarantee
- Not applicable
D. Debt obligation purchase agreement

- Not applicable
E. Other contingent liabilities

(1) Major agreements with financial institutions
Loan commitments signed with financial institutions as of the end of 1Q 2022 are as follows:
(Unit: KRW Thousand, USD Thousand)
Limits Execution amount
Bank Type
Currency Amount Currency Amount
Bank overdraft KRW 10,000,000 KRW -
B2B Plus KRW 5,760,000 KRW -
Loans for equipment KRW 70,000,000 KRW 70,000,000
Woori Bank
Loans for equipment in
USD 30,000 USD 30,000
foreign currency
KEB Hana Loans for equipment KRW 100,000,000 KRW 30,000,000
Bank
Comprehensive limit KRW 40,000,000 KRW -
General loan in foreign
USD 30,000 USD 30,000
currency
General loan KRW 19,214,000 KRW -
Shinhan Bank
KB Bank Loans for equipment KRW 100,000,000 KRW 50,000,000
NH Bank Loans for equipment KRW 100,000,000 KRW 20,000,000
The Export-
Import Bank of Export Growth Loan KRW 110,000,000 KRW 55,000,000
Korea
Mizuho Bank
Loans for equipment USD 10,000 USD 10,000
Sumitomo
Mitsui Banking General loan KRW 30,000,000 KRW -
Corporation
Australia and
New Zealand Loans for equipment USD 100,000 USD -
Banking Group
Crédit Agricole Loans for equipment KRW 100,000,000 KRW -
As of December 31, 2021, details of guarantees provided by financial institutions are summarized as
follows:
(Unit: KRW Thousand, USD Thousand)
Limits Payment guarantee

Bank Type
Currency Amount Currency Amount
Woori
Payment guarantees KRW 39,500,000 KRW 25,048,501
Bank
Kookmin
Foreign currency payment guarantee KRW 30,000,000 KRW -
Bank
If the Company does not comply with the commitments below, financial institutions may require an early
redemption of long-term borrowings.
Financial institution Remarks Details of covenants
The ownership of the Samsung Group shall be over 50%, and

Shareholder
Sumitomo Mitsui Bank Samsung C&T Corporation shall maintain its ownership in the
composition ratio
Company in excess of 30%.
The ownership of the Samsung Group (Samsung C&T Corporation

Mizuho Bank Shareholder
and Samsung Electronics) shall maintain ownership of the Company
composition ratio
in excess of 60% (voting shares).
(2) Free land use rights

In connection with a lease agreement with Incheon Metropolitan city (“Incheon”) related to the use of
land, the Company is exempt from the full amount of rent because the Company meets the
requirements for exemption of rent in accordance with the Common Property Management Ordinance
of Incheon. The Company recognized an intangible asset at the fair value of the rent that is exempt
from Incheon and government grant as a reduction of assets at the same value. The period of land use
without payment and exemption requirement of the full amount of rent are as follows:
Period
Lease terms are for a total of 50 years. The initial lease period is for 20 years from the land lease
contract date of April 28, 2011, and the Company can extend the contract by 10 years.
Exemption requirement
The Company whose foreign investment amounts to more than USD 20 million for 5 years since the
land lease contract date is subject to the exemption from Article 32 of Common Property Management
Ordinance of Incheon. Afterwards, the Company, including foreign invested enterprises that meet the
average daily employee count of above 300, is subject to exemption.
(3) A suit for damages from stock trading

There are a total of four pending lawsuits of stock transaction damages related to the Company’s
accounting and disclosure (Note 34), and the total amount of litigation is KRW 9,296 million.
(4) Provision for acquisition of tangible/non-tangible assets
As of March 31, 2022, the provision for the acquisition of tangible/non-tangible assets regarding the
construction of the fourth plant is KRW 1,026 billion, of which the amount committed to related parties
including Samsung Engineering Co., Ltd. is KRW 725 billion.
(5) SVIC 54 New Technology Investment Association

As of December 31, 2021, the Company entered into an investment agreement with a limit of total KRW
49,500 million for SVIC 54 New Technology Investment Association. On August 13, 2021, the Company
paid an initial investments of KRW 12,375 million and plans to pay additional investments in three
installments by August 13, 2024.
3. Sanctions and Others
A. Sanctions
(1) Sanctions by Investigation agency and Jurisdiction
Regarding violations of Financial Investment Services and Capital Markets Act, Act on External Audit of
Stock Companies, Act on the Aggravated Punishment, etc. of Specific Economic Crimes and
Destruction of Evidence, the Prosecutor’s Office has investigated the Company’s Chief Executive
Officer and Chief Financial Officer. Following the investigation, with regards to Act on External Audit of
Stock Companies, Act on the Aggravated Punishment, etc. of Specific Economic Crimes and
Destruction of Evidence, the Prosecutor’s Office has filed an indictment of the Company’s Chief
Executive Officer and Chief Financial Officer, and the first trial is currently in progress.
Currently, there is no case settled by the Investigation agency and Jurisdiction.
(2) Sanctions by Regulator
Regulatory Financial Relevant

Date Subject Content Reason
Authority penalty regulation
- External auditor designation by the

regulator Omission of Act on External
Securities &
Samsung - Recommendation to dismiss the note regarding Audit of Stock
2018.07.12 Futures -
Biologics director in charge joint venture Companies
Commission
- Prosecution charges agreement Article 13
(Company and CEO)
Securities &
- External auditor designation by the
2018.11.14 Futures -.
regulator
Commission Act on External
- Recommendation to dismiss the Inappropriate
Samsung Audit of Stock
CEO and director in charge consolidation
Biologics Companies
- Correction of financial statements accounting
Financial Article 13
- Prosecution charges KRW
2018.11.21 Services
(Company and CEO) 8 billion
Commission
- On July 12, 2018, the Securities & Futures Commission(“SFC”) imposed the first administrative
measures in accordance with the Act on External Audit of Stock Companies against the Company for
alleged failure to disclose sufficient information in the Company’s Financial Statement from 2012 to
2015 regarding the Company’s joint venture agreement with Biogen Therapeutics Inc. The measures
(“First measures”) included external auditor designation by the regulator, recommendation of
dismissal of the Company’s directors in charge, and referral of the case against the Company and its
representative director (CEO) to the Prosecutors’ Office. On October 10, 2018, in order to prove
unfairness of the decisions and actions taken by the SFC, the company filed a lawsuit for cancellation
of aforementioned measures. (Seoul Administrative Court)
On September 24, 2020, the Court ruled to cancel the First measures imposed to the Company by
SFC and decided to suspend the First measures until the decision of the appeal trail is made. The
SFC appealed the Court’s first trial and the litigation is in progress at the Seoul High Court.
- On November 14, 2018, SFC determined a second measure, in accordance with the Act on External
Audit of Stock Companies against the Company for violation of accounting standards by
inappropriately applying separate method regarding investments in Samsung Bioepis from 2012 to
2018. The measures (“Second measures”) included imposition of administrative fine of KRW 8 billion,
external auditor designation by the regulator, recommendation of dismissal of the Company’s
representative director (CEO) and directors in charge, retrospective restatement of financial
statements, and referral of the case against the Company and its representative director (CEO) to the
Prosecutors’ Office. On November 21, 2018, following the procedure, the Financial Service
Commission(“FSC”) imposed a penalty of KRW 8 billion on the Company. On November 27, 2018, to
prove justification of the accounting treatment, the Company filed a lawsuit for cancellation of the
measures by the SFC and the FSC. (Seoul Administrative Court)
4. Subsequent Events
A. Important subsequent events
(1) On January 28, 2022, the Board of Directors of Samsung Biologics has approved the stock trade
contract to acquire Biogen Therapeutics Inc.’s stake of 10,341,852 shares in Samsung Bioepis to
diversify its business portfolio and strengthen the market competitiveness as the
biopharmaceutical company. The transaction payment consists of contract payment of USD
2,250,000,000 and conditional payment of USD 50,000,000 for the total consideration of USD
2,300,000,000. Payments will be made in three installments (payment of USD 1,000,000,000 on
the transaction closing date, payment of USD 812,500,000 within one year from the closing date,
payment of USD 437,500,000 within two years from the closing date) and the conditional payment
will be paid in full by January 2027 when conditions are met. On April 20, 2022, the Company paid
USD 1,000,000,000 and wholly acquired 10,341,852 shares.
(2) On January 28, 2022, the Board of Directors resolved to increase its capital for the acquisition of
construction-in-progress and securities of other entity. The capital increase amounts to KRW
3,200,751 million (5,009,000 registered ordinary shares), and the listing date of new shares is April
28, 2022.
(3) In December 2020, Biogen Therapeutics Inc. (“Biogen”) requested for arbitration in the Court of
International Chamber of Commerce against the Company regarding interpretation of certain
provision in joint venture agreement by and between Biogen and the Company; however, the
arbitration procedure has been suspended according to the agreement made between the two
parties in February 2022. In April 2022, Biogen and the Company agreed to terminate the
arbitration procedure.
(4) The Board of Directors resolved to purchase the land for the 2nd Bio Campus at an acquisition
price of approximately KRW 426 billion. The Company has been selected as a preferred bidder by
the Incheon Free Economic Zone Authority (IFEZ) and the negotiation is in progress to enter into a
contract.
B. Follow-up information including mergers

- Not applicable
C. Green management
The Company is making efforts to meet the government’s green growth policy through greenhouse-
gas/energy reduction activities, water reuse, waste resource circulation, environmental performance
evaluation, and management to establish a green management system and take full responsibility as
an eco-friendly company. The Company is also doing its best to preserve the environment through
continued management of environmental management indicators and disclose relevant information to
its stakeholders in a transparent manner.
The Company’s management indicators by each environmental area for the last 3 years are listed below.
※ The current management indicators may change depending on the results of the performance report
by the Ministry of Environment.
[Greenhouse Gas & Energy]
Unit 2019 2020 2021

Greenhouse Gas Emission tCO2e 119,791 124,807 130,869
Energy Consumption TJ 2,427 2,529 2,679
[Water Resources Management]
Unit 2019 2020 2021

Water Usage Ton 1,746,377 1,578,639 1,900,995
Wastewater Discharge Ton 1,098,667 1,025,916 1,178,678
Water Reuse Ton 108,048 100,828 73,367
Water Reuse Rate % 9.8 9.8 6
Note 1) Water reuse facility was newly installed on December, 2017.
[Waste Management]
Unit 2019 2020 2021

General Waste Discharge Ton 4,713 5,558 7,704
Designated Waste Discharge Ton 435 431 595
Water Recycling Ton 3,738 4,330 6,123
Recycling Rate % 72.6 72.3 73.8
[Contaminant Management]
Unit 2019 2020 2021

Air Pollutant(NOx) Ton 19.201 19.804 21.015
Water Pollutant(Note 1) Ton 16 13 27
Note1) Water Pollutant: COD, SS, T-N, T-P
D. Government Certification and Cancellation

□ AEO (Import Division of Excellent Import and Export Safety Management Company)
- Related laws: Article 255-2 of the「Customs Act」, Article 259-2 and Article 259-3 of the Enforcement
Decree of the Customs Act
- Certification Department: Korea Customs Service
- Date of Certification: Apr 1, 2019
- Validity period: Apr 1, 2019 ~ Mar 31, 2024
□ Best Family Friendly Management
- Related laws: Act on Development of Family Friendly Environment
- Certification Department: Ministry of Gender Equality and Family
- Date of Certification: Dec 1, 2020
- Validity period: Dec 1, 2020 ~ Nov 30, 2023
□ Best Company for Environment Management by the City of Incheon
- Related laws: Article 56 of the Framework Act on Environmental Policy (Environmental management
support for businesses)
- Certification Department: Incheon Metropolitan City
- Date of Certification: Dec 17, 2021
- Validity period: Dec 17, 2021 ~ Dec 16, 2024

XII. Table of Information
1. Consolidated Subsidiaries
(Unit : KRW mil)
Basis of a
Total asset of
Name of Established Main dominant- Major
Address the last
Company Date business subordinate Subsidiary
business years
relationship
Majority
Samsung
California, Biologics ownership of
Biologics 2020.01 16,129 X
U.S. R&D voting rights
America, Inc.
(K-IFRS 1110)
2. Affiliates
This section was excluded in the Quarterly Report according to Corporate Disclosure Guidelines set
forth by the Financial Supervisory Service Authority of the Republic of Korea. For details, please refer
to the 2021 Annual Report submitted on March 21, 2022.
3. Investments in Other Companies
(As of March 31, 2022) (Unit: KRW Mil, Thousand shares, %)
Financial status in
Beginning balance Increase(decrease) Ending balance
recent business year
Name of Acquisition Purpose of Acquisition Acquisition (disposal) Gain
company date Investment cost Share Book Share Book Total Net profit
Volume (loss) on Volume
ratio value Volume Amount ratio value assets (loss)
valuation
Samsung
Management
Bioepis Co., 2012.02.28 139,995 10,342 50.00 517,100 - - - 10,342 50.00 517,100 2,783,971 151,992
Participation
Ltd.
Archigen Management
2014.06.23 71,372 131,000 50.00 - - - 3,814 131,000 50.00 3,814 4,227 2,584
Biotech Ltd. Participation
Samsung
Biologics Management
2020.03.09 11,914 10 100.00 11,914 - - - 10 100.00 11,914 16,129 404
America, Participation
Inc.
SVIC 54
New
Management
Technology 2021.08.13 12,375 - 33.00 12,375 - - - - 33.00 12,375 37,136 -1,313
Participation
Investment
Association
Total - - 541,389 - - 3,814 - - 545,203 - -
(*1) In March 2022, the Board of Directors of the Company and AstraZeneca have agreed to the liquidation of Archigen Biotech Limited, a joint venture,
and its book amount was changed according to the expected receipt of liquidation payment.
[Confirmation by Expert]
1. Confirmation by Expert
- Not applicable
2. Expert’s Relations
- Not applicable

(Samsung Biologics) 2022 1st Quarter Report

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Quarterly Report

The 12th Accounting Period

To. Financial Services Commission

Type of Corporation Subject to Submit Stock-listed Corporation

Reason for Exemption Not applicable

Name of Company Samsung Biologics Co., Ltd.

CEO Rim John Chongbo

Place of Principal Office 300, Songdo Bio-daero, Yeonsu-gu, Incheon, Korea

Principal Officer (Title) Director of Business Support Center

A. Consolidated subsidiaries overview(summary)

Number of consolidated subsidiaries Number of

※ For details, refer to XII. Table of Information – 1. Consolidated subsidiaries overview

B. Change of consolidated subsidiaries

C. Legal and commercial name

E. Address, telephone number, and homepage

Small Enterprises Not Applicable

Medium Enterprises Not Applicable

Credit Rating Agency

[Credit rating system]

D A ‘D’ rating indicates default.

- Korea Ratings : Rating of Bonds

AAA Capacity for timely payment is extremely strong.

B Capacity for timely payment is poor and speculative.

CCC Contain the possibility of default.

CC Contain more possibility of default.

C Highly likely default.

D In default at the present time.

Stock market (KOSPI) 2016.11.10 Not applicable Not applicable

A. Company location changes

3003, Songdo Technopark IT Center M, 172-1, Songdo-dong, Yeonsu-gu,

2012.06.26 201-2, Songdo-dong, Yeonsu-gu, Incheon, South Korea -

B. Important changes in management executives

(1) Change of Chief Executive Officer

Independent director Executive director Independent director

Date Before After Remarks

Samsung Everland (Old) Cheil Industries The change of the largest

Following the merger between

D. Company name changes

F. Mergers and Acquisitions

Contract Between Shareholders 2011.12.06

Evaluation of external evaluation agencies 2018.06.22 ~ 2018.06.29

Key item report submission date 2018.06.29

Transfer of shares and payment date 2018.11.07

G. Important changes in the Company’s business

H. Other important matters related to the management activities

2016.04.01 Signed a contract with Samsung Bioepis regarding biosimilar manufacturing

Status of capital increase (decrease)

A. Total number of shares

Ⅰ. Authorized shares 500,000,000 - 500,000,000 -

Ⅱ. Issued shares (cumulative) 66,165,000 - 66,165,000 -

Ⅲ. Decrease in number of shares (cumulative) - - - -

Ⅳ. Issued shares (Ⅱ-Ⅲ) 66,165,000 - 66,165,000 -

Ⅵ. Outstanding shares (Ⅳ-Ⅴ) 66,165,000 - 66,165,000 -

C. Types of Registered Stock

Date of change Meeting name Description Reason

The growth engines for biopharmaceutical market include:

2. Key Products and Service

Business 1Q 2022 2021 2020

B. Price fluctuation of major products

A. Purchase of major raw materials

B. Raw materials price trends and major components

C. Production capacity, production performance and operating rate