Recommendations by Korean Proxy Advisors Signal Strong Support for Palliser’s Proposals Ahead of LG Chem AGM

• KCGS and Sustinvest join ISS and Glass Lewis in supporting key measures to enhance governance and shareholder representation
• Palliser urges LG Corp. to vote in line with independent recommendations that aim to give minority shareholders a voice

LONDON--(BUSINESS WIRE)--Palliser Capital (“Palliser”) today welcomed additional support from leading Korean proxy advisory firms for its proposals at the upcoming Ordinary General Meeting of LG Chem, Ltd. (“LG Chem” or the “Company”) on March 31, 2026.

Korea Corporate Governance Service (“KCGS”) and Sustinvest have recommended that shareholders vote in favor of key elements of Palliser’s proposals, including measures aimed at strengthening governance by ensuring minority shareholders have a voice within the boardroom. Their recommendations build on earlier support from Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”), further reinforcing momentum behind Palliser’s calls for the Company to address its KRW 60 trillion (US$41 billion) value gap.

With support from multiple independent proxy advisors, both international and Korean, Palliser is urging LG Corp., the Company’s largest shareholder, to consider these recommendations responsibly and vote in favor of steps to strengthen governance, improve transparency and capital allocation, and address the persistent discount at LG Chem.

Beyond Korea, key global institutional investors such as Norges Bank Investment Management, CalPERS, and British Columbia Investment Management have begun to disclose votes in favor of the proposals, signaling growing shareholder support.

James Smith, Founder and Chief Investment Officer of Palliser, said: “This level of support from global and Korean proxy advisors and institutional investors reflects a clear consensus that governance at LG Chem must improve. We urge all shareholders, including LG Corp., to follow these recommendations and, in particular, to support Proposal #2.7 to ensure meaningful representation for minority shareholders.”

Palliser urges all shareholders to vote FOR its proposals at the AGM, including:

• Proposal #2.7, which would enable advisory proposals to be put up at shareholders’ meetings, allowing shareholders to express their views on key value-enhancing initiatives, including Proposals #3.1–3.3;
• Proposals #3.1–3.3, which relate to key value-enhancing governance and disclosure measures; and
• Proposal #2.8, which would enable the appointment of a Lead Independent Director with specific responsibilities to serve as a representative of the independent directors and act as a bridge between the Board and minority shareholders.

About Palliser Capital

Palliser is an alternative investment manager that applies a value-oriented, event-driven philosophy to investing across a range of distinct yet complementary strategies on a global basis with a focus on situations where positive change and value enhancement can be achieved through thoughtful, constructive, and long-term engagement with companies and across a range of different stakeholder groups.