Overview

• Posco Future M's board has approved a 1.1 trillion won ($771 million) rights offering, with new shares set to be issued in July 2025.
• Posco Holdings will invest 525.6 billion won to fully subscribe to its 59.7% stake in the offering, while also committing 328 billion won and 69 billion won to two other battery affiliates.
• Funds from the offering will be used to expand domestic and North American production capacity, including a 353.4 billion won investment in the Ultium CAM joint venture with General Motors in Quebec.
• Additional investments will target cathode and anode material facilities in Gwangyang and Pohang, as well as the acquisition of a domestic spherical graphite plant and upgrades to existing facilities.
• These moves align with Posco’s broader strategy to strengthen its battery materials business, positioning for anticipated growth in global EV demand by 2026.