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SCM Lifescience Inc. held an extraordinary general meeting of shareholders.

We would like to thank the shareholders once again for coming to us despite the hot weather.

Thanks to the support and encouragement of our shareholders who delivered in various ways, all resolutions of our extraordinary general meeting of shareholders were able to pass as originally planned. Thank you.

Redwood National Park, located in California, USA, is home to the tallest and oldest tree on the planet, the Redwood Tree.

It is a giant tree that grows up to 100M, but its roots are not deep.

It supports a huge stem with short roots of only 3m, withstands typhoons of 50km/sec, and maintains its position even in severe drought.

The reason why Redwood does not collapse even in times of trial is the spirit of “together”. Redwood roots are elongated laterally and strongly intertwined with the surrounding tree roots. Supporting each other, sharing nutrients, and helping each other for hundreds of years has allowed them to grow into gigantic trees.

Amid the frozen bio market situation and the gradual loss of trust, K-BIO companies are currently facing a difficult moment.

However, even in this situation, many bio companies are working hard to develop high-purity and high-potency stem cells to make stem cell therapeutics with proven efficacy. SCM Lifescience is also working 'together' to develop effective stem cell therapies through the Subfractionation Culturing Method, which is a source technology.

A new wind of change in SCM Lifescience begins with the appointment of a new CEO and the announcement of the results of phase 2a in moderate-severe acute pancreatitis at the end of August this year.

We will continue to work hard to prove the potential of stem cell therapy without wavering, inheriting the founder's belief that dreamed of providing new hope and life to patients with intractable diseases.

In the future, SCM Lifescience will work together to overcome difficult moments by holding hands, sharing nutrients, and moving forward through the source of high-purity stem cells based on Redwood's 'shared spirit'. However, like Redwood Forest, we will do our best to help K-BIO grow together with the spirit of win-win, not competition.

For shareholders who were unable to attend the extraordinary general meeting of shareholders, we have compiled a list of questions and posted them in the notice. Hope this helps a bit.

Thank You