New Risk • Mar 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩9.6b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩9.6b free cash flow). Shareholders have been substantially diluted in the past year (84% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩135.1b market cap, or US$89.4m). Announcement • Feb 28
T&R Biofab Co., Ltd., Annual General Meeting, Mar 26, 2026 T&R Biofab Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 237, sangidaehak-ro, gyeonggi-do, siheung South Korea New Risk • Feb 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩144.1b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (84% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩144.1b market cap, or US$99.5m). 
