Regulations Governing the Offering and Issuance of Securities by Securities Issuers Article 4

In the occurrence of any one of the following events, the issuer may not offer and issue securities:1. Upon the occurrence of events prescribed under paragraph 1 of Article 135 of the Company Act, no secondary distribution is allowed.2. If the issuer is in violation of paragraph 2 of Article 247 of the Company Act or any one of the events under Article 249 of the same law occurs, the issuance of unsecured corporate bonds is prohibited. However, the restriction of Article 247 of the Company Act does not apply when the issuance of corporate bonds is in accordance with Article 28-4 of the Act.3. No issuance of corporate bonds is allowed if the issuer is in violation of paragraph 1 of Article 247 of the Company Act or any one of the events under Article 250 of the same law occurs. However, the restriction of Article 247 of the Company Act does not apply when the issuance of corporate bonds is in accordance with Article 28-4 of the Act.4. No public issuance of preferred shares is allowed if any one of the events under Article 269 of the Company Act occurs.5. The public issuance of new shares is prohibited in the event that any incident prescribed under Article 270 of the Company Act occurs.