COWAY

World Water Day, which has been observed annually on March 22 since the day was first designated by the United Nations (UN) in 1993, celebrates all things ‘water’ while highlighting the critical importance of access to fresh water. It is a day dedicated to raising awareness of the ongoing global water crisis and to inspiring collective action to protect this finite resource. Understanding that the sustainable management of freshwater resources is a universal issue, Coway, the “Best Life Solution Company,” has been playing a pivotal role in advancing access to clean drinking water. Since its inception, the company has fundamentally reshaped how its consumers perceive and consume drinking water. Through the introduction of its industry-first rental model, Coway democratized access to water purifiers — appliances that were previously luxury items. Paired with the company’s regular maintenance service offering, this rental model has ensured that clean, safe water can now be the norm in every home, instead of a privilege. The Science of Safety: Advancing Filtration Standards   Coway’s Icon Water Purifier 3 Lineup For decades, Coway has been refining its advanced filtration technologies, designed to remove even microscopic contaminants, driven by a steadfast commitment to providing safe drinking water to all. This commitment has further been reinforced through rigorous international certifications. In 2008, Coway became the first in the industry to obtain global certification from the Water Quality Association (WQA), an international certification body for water quality technologies and services. Today, Coway’s filters are certified by the WQA on a wide range of leading industry standards, including NSF/ANSI 42 (aesthetic effects), 53 (health-related effects) and 58 (reverse osmosis systems). More than 80 Coway products carry the WQA’s Gold Seal Mark, an achievement that reflects Coway’s steadfast provision not of just high-level product quality, but of product safety and reliability, too. The Engine of Innovation: Inside Coway’s R&D Center   Coway's Environmental Technology Research Institute (R&D Center) in Seoul, Korea At the heart of Coway’s technological leadership is its Environmental Technology Research Institute (R&D Center) in Seoul, South Korea. The R&D Center’s mission is simple yet clear: to help more people enjoy clean air and water through state-of-the-art research and world-class technical expertise. Coway’s specialized R&D procedures have enabled the company to develop bespoke products tailored specifically to the local environmental requirements of each country it serves. Through the careful analysis of water samples taken from around the globe, Coway has been able to develop its proprietary ‘Water Map’, a massive database containing findings and insights from approximately 2,700 water sources in 41 countries. With this extensive catalog to draw from, Coway is able to deliver optimized, localized products that address the unique mineral compositions and characteristics of a given region’s water supplies. Beyond the Faucet: Committed CSR and Global Impact As a key industry player, Coway understands that its responsibility extends beyond product innovation through to environmental stewardship and community engagement.   Children from the Netmarble Puruni Daycare Center Take Part in A Coway River Plogging Campaign In the company’s home country of South Korea, annual ‘plogging’ initiatives see Coway employees and community members drive awareness of water cleanliness by collecting waste while jogging or walking near waterways. Diving even deeper, teams of scuba-certified Coway employees also conduct underwater cleanups to further remove waste from the nation’s marine environments. On an international level, Coway Malaysia has led its ‘Happy Water Project’ with the goal of delivering clean, safe and sustainable water solutions to underprivileged areas since 2017. In 2025, the initiative saw borewells and solar-powered water pump systems installed so as to support the indigenous Jakun community in Kampung Batu 15. To date, this initiative has benefited more than 1,000 families across the nation. Flowing Toward a Sustainable Future On this year’s World Water Day, Coway is reaffirming its commitment to safeguarding one of the planet's most precious resources. By blending cutting-edge R&D with the company’s genuine dedication to community service, the company continues to contribute to a future where clean water is more accessible and sustainable. Looking to the future, Coway will continue to innovate and to advocate for the right to clean water access for all, for generations to come.  

- Coway proves record-breaking growth through core strategies led by Chairman Junhyuk Bang - The company is also strengthening transparency in 2026 with the introduction of an Internal Transaction Committee and Lead Independent Director system  - Coway will enhance shareholder communication via executive-led conference calls and will maintain the 40% total shareholder return rate until 2027 Seoul, South Korea, February 9, 2026 – Coway Co., Ltd., the “Best Life Solution Company,” has issued an official response to the second shareholder proposal submitted by Align Partners Capital Management Inc. (“Align Partners”) outlining its ongoing efforts to enhance corporate and shareholder value. In its response, Coway stated that since announcing its Corporate Value-Up Plan in February 2025, it has been continuously conducting reviews on implementation progress, proactively reassessing strategic consistency and subsequently introducing supplementary measures in response to evolving market conditions. Ahead of the one-year mark of the plan’s first implementation, Coway also disclosed its “Corporate Value-Up Plan Implementation Assessment”, in which the company reaffirmed its commitment to the credible and effective enhancement of shareholder value. Proven Performance Under Strategic Leadership Addressing some shareholders’ concerns regarding potential conflicts of interest, Coway emphasized that its transformation and long-term growth strategies are underpinned by tangible operational milestones. The company went on to note that its current core strategy is the execution of the IT-driven rental innovation roadmap established by Chairman Junhyuk Bang upon the company’s acquisition in 2020. Far more than just a representative of the company’s largest shareholder, Inside Director Bang serves as Coway’s Business Strategy Officer (BSO), spearheading the company’s digital transformation, product innovation, global expansion and future engine strategies, of which one such example is the BEREX brand. Inside Director Bang’s role is complemented by that of Coway CEO Jangwon Seo’s, who oversees overall business operation, organizational management, and operational efficiency. As a result of this accountability-driven management structure, Coway delivered strong quantitative growth between 2020 and 2025, achieving compound annual growth rates of 8.6% in revenue, 11.5% in operating profit and 10.8% in net income. Advanced Governance Standards: Enhancing Board Independence and Transparency Coway has once again reiterated its commitment to advancing its corporate governance standards through a systematic, multi-phase roadmap. Key milestones achieved and upcoming initiatives include: Board Composition : The proportion of independent directors has been increased from 57% to 67%, exceeding the average for major KOSPI-listed companies. Institutional Foundation : Coway has established a formal Corporate Governance Charter and a CEO Succession Policy to cement long-term stability and foster transparency. Conflict Mitigation : All concurrent executive positions between Coway and parent company Netmarble have been removed, and Coway is set to launch an Internal Transaction Committee composed entirely of independent directors in 2026. Board Independence : A Compensation Committee and a Nominating Committee, both consisting solely of independent directors, have been established. Balanced Accountability : The company plans to introduce a Lead Independent Director system to secure checks and balances of the board. Fiduciary Duty : In line with recent revisions to South Korea’s Commercial Act, Coway will propose amendments to its Articles of Incorporation at the 2026 Annual General Meeting to formally codify directors’ fiduciary duty to shareholders and elect two independent directors through a “separate process” to substantially strengthen the board's independence. Strengthening Shareholder Returns and Communication In 2025, Coway achieved a 40% total shareholder return rate through a balanced mix of cash dividends and treasury stock acquisitions. The company also introduced concrete initiatives to deliver tangible benefits to shareholders while maintaining the total shareholder return rate of 40% through 2027. Coway also plans to enhance shareholder value by satisfying “High-Dividend Company” requirements, thereby qualifying its shareholders for various incentives and benefits.. Starting with the shareholder returns for the 2026 fiscal year, the company is set to flexibly adjust the ratio between cash dividends and share buybacks/cancellations to meet these requirements within its 40% total shareholder return framework. In parallel, Coway will further bolster shareholder communication through the introduction of C-level executive-led online conference calls, beginning with the 2026 first quarter financial results. This initiative has been designed to improve access to information for investors, as well as to align the company’s investor relations practices with global standards.  Coway’s response to Align Partners also addressed other inquiries raised by shareholders, including mid- to long- term valuation and return-on-equity (ROE) targets, clarification of the company’s target capital structure and a strengthening of the linkage between executive compensation and shareholder value. A Coway official said, “Management and the board remain steadfast in our commitment to listening to our shareholders and delivering consistent, sustainable growth. Through disciplined strategic execution and transparent governance, Coway will continue to work to maximize long-term value for all our shareholders.”   For additional details about Coway’s Corporate Value-Up Plan, please visit the company’s Investor Relations Page.  

Coway's Water Sommeliers Established in 2019, Coway’s Water Taste Evaluation & Research Lab, located in the company’s Environmental Technology Research Institute (R&D Center) in Seoul, Korea, is home to a unique group of experts: nationally-certified water sommeliers. Coway is the only company in the industry operating a dedicated water taste research lab. Harnessing Science for Better Tasting Water Similar to their namesakes in the wine industry, water sommeliers are specialists able to evaluate the sensory qualities of water, ensuring that Coway’s water purifiers deliver water that is as enjoyable to drink as it is safe. By studying the factors that influence water quality and taste, they validate and enhance the drinking experience. This year, Coway certified 15 new water sommeliers, bringing the company’s total to 44 – the largest in the industry. Among them, 10 hold Advanced Level certifications, enabling them to lead training and education in water taste.   Coway’s Environmental Technology Research Institute (R&D Center) in Seoul, Korea Since the launch of the initiative in 2012, Coway has been expanding its water sommelier program in order to strengthen its research capabilities. The lab also pioneered the industry’s first proprietary water taste standard, the ‘GPT (Good Pure Tasty) Water Index.’ Today, water sommeliers play a central role in product development, assessing water taste and quality throughout filter design and testing processes. Their expertise ensures Coway is delivering to its customers water that is not only clean and safe, but that is also consistently pleasant across the company’s diverse range of markets.   Coway's Icon Water Purifier 2 (CP-7211N) Achieving International Certification and Recognition Beyond this taste expertise, Coway has also achieved international recognition for the water safety and performance of its products. Coway was the first in the industry to obtain global certification from the Water Quality Association (WQA), a recognized international certification body for water purifiers, back in 2008. Additionally, Coway’s filters have been certified by the WQA to a variety of leading industry standards, including NSF/ANSI 42 (aesthetic effects), 53 (health-related effects) and 58 (reverse osmosis systems). More than 80 of the company’s products carry the WQA’s Gold Seal Mark, a clear assurance of product quality, durability and safety. Setting the Global Benchmark for Water Expertise Moreover, Coway’s specialized overseas research & development (R&D) systems empower the company to develop custom products tailored to the specific requirements of each country it operates in. By collecting and analyzing water samples the world over, Coway has developed its proprietary “Water Map”, a database containing findings from approximately 2,700 water sources in 41 countries. This extensive catalog of samples allows Coway to deliver optimal and localized products and services that align with each region’s unique water characteristics. With the industry’s largest team of certified water sommeliers, advanced R&D capabilities and internationally-certified products, Coway continues to set the benchmark for water expertise. Coway’s mission is simple yet powerful: to deliver water that is safer, cleaner and consistently better-tasting, every single day.