GS Tower 508, Nonhyeon-ro, Gangnam-gu, Seoul, KOREA

tel: 82-2-2005-1114 fax: 82-2-2005-8181 website: http://www.gs.co.kr

Notable

Annual

Numbers(As of 2020)

Total assets

Billion USD61 Sales

Billion USD44

Overseas countries with business presence

Countries32Overseas corporations and branches

Global Sites93Corporate Partnership Legacy:•57 years with LG group•54 years with Chevron•�17 years with Oman Oil Company

Years57

Employees

Employees36,000

· World’s 4th Largest Single-site Refinery

· Global Network of more than 30 Overseas Bases

· Korea’s Largest Private-sector Power Company by Capacity of 5.7GW

· Korea’s leading commerce platform company by Online and offline integrated(GS Retail+GS SHOP)

· Korea’s Most recognized Apartment Brand 'Xi'

· No.1 K-League football Team by Highest Ticket Sale Volume

· The first 'Treble Champion’ volleyball team in Korean V-league history (GS Caltex Seoul Kixx Volleyball team)

Key Highlights of GS Group : Listed as Fortune 500 Company

Subsidiaries through expansion and discovery of new businesses

Subsidiaries67

Energy(Refinery & Petrochemical)

GS Energy

GS Caltex

Utility (Gas & Power)

GS EPS

GS E&R

GS Power

Sustainable GrowthFuture oriented with boundless passion

Retail(Retail & Trading)

GS Retail

GS Home Shopping

GS Global

GS Sports

Engineering & Construction

GS E&C

Business Area

Business Area(Sector)

Petrochemical Plant

Port Development

Domestic

Coal Power Plant

Retail Network

Photovoltaic

Biomass plant

Export

Project Development

Data/IT

CustomerTrend

Engineering

Supermarket

Technology Based Building Material Business

Industrial Complex CHPShip Bunkering

Wind Farm

District Energy

Predelivery InspectionFor Imported Cars

Water Treatment / Waste Energy

Hotel & ResortLiving

Infrastructure

TV

O&M

LNG Power Plant

Service

Heat Piping

LNG Terminal

E&P(Oil)

Food

Building&Housing

E&P(Coal)

Oil Refinery

Convenience Store

Real Estate Development Asset Management

Resource Trading

Bio Diesel

LNG Trading

Mobile

Mobility

Plant equipment Manufacturer

Renewable Complex

[Renewable Energy]

[Trading Company]

[Product] [Channel]

Fuel Cell

Refinery & Petrochemical

Gas & Power

Engineering & Construction

Retail & Trading

GS Holdings GS Beyond / GS Futures

GS EnergyGS Global

E&P Co-investment (Nemaha)

GS EPS Gas power Plant Investment (Linden)

GS E&CSilicon Valley Real Estate Development (The Sevens)

USA

GS Caltex Abu Dhabi Branch

GS EnergyProduction & Development of Mine Area in UAE

GS Home Shopping 500Fund, eyewa (Online Shopping)

GS Global Dubai, Riyadh, Istanbul Branch

GS E&CPlant, Infrastructure, Construction(Saudi Arabia/Abu Dhabi)

Middle EastGS EnergyGS Global

Coal Mine Co-investment (BSSR)

GS Retail Supermarket (5 stores as of 2020)

GS Home Shopping Home Shopping

Indonesia

GS CaltexVietnam Representative Office(Lubricants)

GS Energy LNG Power Plant Development

GS Home Shopping Home Shopping, Venture Investment

GS Retail Convenience Store (86 stores as of 2020)

GS E&CNha Be New Town Development/ Material Business for PHC File, Elevator

GS Global Ho Chi Minh Branch

Vietnam

Business Area(Oversea)

GS Caltex

Complex Resin (Langfang / Suzhou / Shanghai), Lubricants (Tianjin), Aromatic (Qingdao), Crude Oil, Petroleum Product Storage (Qingdao)

GS E&C Construction Corporation (Nanjing)

GS Home Shopping Home Shopping (Beijing)

GS GlobalCoil Center (Suzhou)Shanghai Branch

GS RetailConvenience Stores in Development (Mongolia)

China

On/Off-line Commerce

Trading

Construction & Engineering

Power Generation

Refinery & Petrochemical

Core Area

Port Development& Operation

Real Estate Development

O&M

Meterial, Component,Equipment

LNG Terminal

Energy Resource Development

Renewable Energy

Adjacent

Bio

Future FoodEcosystem

Digitalization

Sustainability

Globalization

Mobility

Electrification

Beyond

Going Foward Future

55,000Crude Oil Production

(barrels/day)

NO. 4World's 4th Largest

Oil Refinery

35%Upgrading Capacity

(RFCC capacity as against crude oil processing)

2.8Aromatic compounds production capacity

(million tons/year)

2,759 Petrol Station/

LPG StationNetwork

800,000Crude Oil Processing

(barrels/day)

•�55,000b/d of crude oil produced in 2 blocks in Abu Dhabi and 1 block in the US•�65,000b/d expansion slated in 2024

E&P

•�Business begun in 2007 •�Daily production of 26,000 barrels•�Over 70% of production exported

Manufacturing of lubricants

•�Oil refining facilities with a capacity of 800,000b/d•�South Korea's largest HOU facilities with a capacity of 274,000b/d•�Heavy oil upgrading facilities achieved (35% upgraded)•��2,365 gas stations and 394 LPG filling stations in the domestic network

- taking up 23.5% of the South Korean light crude oil market

Oil refining business

•�Aromatic compounds manufacturing begun in 1990•�Yearly production of 2.8 million tons of aromatic compounds•�Yearly production of 180,000 tons of polypropylene•� MFC (Mixed Feed Cracker) under construction (to be completed in 2021)

- ethylene 700,000 tons/yr, PE 500,000 tons/yr

Petrochemical industry

GS Group operates the E&P business in the Middle East and the US through GS Energy. GS Caltex has acquired world-class competitiveness in oil refining, petrochemistry, and lubricant manufacturing.

GS, boasts top energy value chain in the world

ENERGY SECTOR

Nuclear Energy Coal LNG

New Regeneration Others

Installed power generation capacity (as of Sep. 2020)

Power generation assets of GS

POSCO SK OthersGS

22%

2% 2%

4%

Private Suppliers 32%

No.1

Ⓔ�GS EnergyⓅ�GS EPSⓇ�GS E&Rⓒ�GS E&C

Electric Power

Group Energy

Fuel Cell

Biomass

Wind Power

Solar Power

New Regeneration Complex

Coal Chemistry

Co-generation for Industrial Complexes

E E

E

E

P

P

P

E

R

R

R

R

R

R

E

R

R

P

E

C

E

E

P

E

Pocheon Co-Generation

Yeongyang Wind PowerRegeneration Complex(being planned out)

Dangjin Salt-Affected Site Solar Power (being planned out)Dangjin Biomass Generators 1 & 2

Dangjin Generators 1 to 4

Shin-Pyeongtaek

Banwol Co-Generation

GS Power Anyang/BucheonIncheon Total Energy Company

CheongnaHeat-connected projects

Boryeong LNG TerminalGyeongju Chunbuk

Wind Power (being planned out)

Wind Power(being planned out)

Wind Power (being planned out)

Solar power (being planned out)Solar power (being planned out)

Wind Power (being planned out)

Gumi Co-Generation

East Sea Electric Power

Samcheok New Regeneration(being planned out)

Public Corporations 68%

Private Suppliers 32%4%

South Korea's total installed power generation capacity is 129GW (18% in nuclear power, 29% in coal-fired power, and 32% in LNG), which is divided into public corporations with 68% and private suppliers with 32%.GS power generation takes up 5.7GW (4%), thus boasting the largest installed power generation capacity among private power suppliers.

GS, leaps as Korean's No.1 private power generation company

GAS & POWER SECTOR

Customer lock-in by increasing loyal customers through customer integration

Ensuring consistent customer experience Increasing product offering competitiveness through product integration

➊ Customer synergy

➋ Integration of omni channel ➌ Product synergy

· TV viewing furniture : 37million· Mobile: 40 million· Offline : 14 million

· Convenience Store : 15,000 Stores· Supermarket : 320 Stores

· TV Home Shopping : 2 channels· Mobile Commerce

· Health · living· fashion · food

Online & Offline Leading Customers' Lifestyle

Integrated Commerce Platform

2025 revenue goal $22.2 billion

➍ Becoming an integrated omni channel commerce leader through IT integration (Data + Tech + Human Resource)

➎ Building integrated fulfillment through logistics infrastructure integration (Cold-Chain + Last mile)

➏ Developing new business for sustainable future growth and accelerating advancement into overseas markets

Online Commerce Platform

Offline Commerce Platform

Leading the retail market as an integrated omni channel commerce players through mobile, TV and offline stores including convenience stores and supermarkets. Transforming to a commerce tech leader, further enabling new data-based business.

GS, positioning as a global commerce tech leader

RETAIL SECTOR

Exploration & Production

LNG

Electric Power & District Heating

Refining & Chemicals

GS Energy is a leading company in the energy industry. We create new values with professional competency from refinery & chemical to gas & power.

An energy company specialized in investment & operationGS Energy

UP / MIDSTREAM

We have invested two E&P assets in UAE, ADNOC Onshore Concession and AI Dhafra Concession which provide stable crude oil supply to us over 30 years.

From a direct import of LNG to gas receiving terminal, we are expanding a stable LNG value chain.

We provide a steady supply of electricity and heat by using eco-friendly LNG as the main fuel.

Through world highest level refinery and petrochemical company GS Caltex, we have procured competitiveness from refinery to petroleum chemicals & lubricant base oil.

History

•2012 Established GS Energy•2012 Acquired the share of UAE Al Dhafra Concession•2012 Acquired the share of Nemaha onshore oil project in the US•2015 Acquired the share of UAE ADNOC Onshore Concession•2017 Started the commercial Boryeong LNG Terminal•2017 Acquired the share of Indonesian coal mining company, PT BSSR Tbk•2019 Achieved the first Oil Production of UAE Al Dhafra Concession •2020 Established Lotte GS Chemical Co. (JV with LOTTE Chemical) •2020 Established GS Dangjin Solar Farm Co.

•Total Assets: USD 8.0 Billion (As of 2020)

Exploration & Production

LNG

Electric Power & District Heating

Refinery & Chemicals

17 16

GS Caltex Yeosu Refinery at a Glance

Petroleum

Petrochemicals

Base Oil & Lubricants

Gas Station

GS Caltex

DOWNSTREAM

History

•1967 Establishment of the Honam Oil Refinery Co., Ltd. (former name of GS Caltex)•1969 Completion of the Incheon Lube Oil Blending Plant•1988 Completion of the Polypropylene Plant•1990 Completion of the Aromatics Plant •2005 Changed the company name to ‘GS Caltex Corporation’•2013 Completion of the VGOFCC (No.4 HOU)•2017 GS Caltex’s 50th Anniversary•2021 Scheduled Commercial Operations of the Olefins Plant(investment amount: USD 2.37billion)

•Total Assets: USD 18.14 Billion (As of 2020)

GS Caltex exports petroleum products to 64 countries around the world based on our advanced technology and the high quality of our petroleum, petrochemical, and lubricant products. We are also pursuing new growth businesses such as advanced materials and biochemical to diversify our business portfolio and lead the global future energy and chemical markets.

Value No.1 Energy & Chemical Partner Going Beyond Good To Become Great

We produce high-quality petroleum products in our cutting-edge production facilities with a capacity of 800,000 barrels per day. We also operate Korea’s largest heavy oil upgrading (HOU) facility (274,000 barrels per day), which produces high value-added light oil and eco-friendly premium gasoline.

Since we launched the petrochemical business in 1988, we have made continuous investments and we have an annual production capacity of 2.8 million tons of aromatics and 180,000 tons of polypropylene. We are also constructing an Olefins plant on the 430,000㎡ site near the Yeosu No.2 Complex. The plant is scheduled to begin commercial operations in 2021, with an annual production capacity of 700,000 tons of ethylene and 500,000 tons of polyethylene.

We produce 26,000 barrels of base oil and 9,000 barrels of lubricants per day and 8,000 tons of grease per year. Kixx is our representative lubricant brand that is growing into a global brand and base oil has become a core business of GS Caltex.

We are focusing on developing new growth engines, such as energy/refining technologies, high-performance polymers, biochemicals, eco-friendly materials, and future mobility hub.

Petroleum

Petrochemicals

Base Oil and Lubricants

Future Business

The 4th largest single plant in the world, GS Caltex Yeosu Refinery

LNG Combined Cycle Power

Bio-mass Power

Renewable Energy

GS EPS

LNG ELECTRIC POWER

History

•1996 Established LG Energy(currently GS EPS)•2001 1st LNG combined cycle power plant•2008 2nd LNG combined cycle power plant•2013 3rd LNG combined cycle power plant•2015 1st Bio-mass power plant•2017 4th LNG combined cycle power plant•2018 Acquired Shares in Linden cogeneration complex(Linden, New Jersey)•2020 2nd Bio-mass power plant

•Total Assets: USD 2.4billion(As of 2020)• Capacity: 2.62GW

We will create a bright and clean world with smart power plant and eco-friendly energy

Value No.1Clean Energy Company For Better World

We operate highly efficient combined cycle power plants by using eco-friendly LNG.

Our biomass power plant is the Asia No.1, which is currently 200MW capacity.

LNG Combined Cycle Power (Unit 1~4)

Bio-mass Power

GS EPS Bio-mass Power Plant GS EPS Power Plant

GS EPS LNG combined Cycle Power Plant

Combined Heat & Power [CHP]

Thermal Power Plant

Renewable Energy

Petroleum Product Distribution

GS E&R

COAL & RENEWABLE

History

•1990 Started operating the Banwol Power Plant•1992 Started operating the Gumi Power Plant•2012 Established the GS Yeongyang Wind Power•2014 Incorporated to GS Group•2016 GS Wind Power Y1 completion•2017 Started the commercial operation of the GS Donghae Electric Power•2018 GS Donghae Electric Power completion •2018 GS Wind Power Y2 completion

•Total Assets: USD 3.3 Billion (As of 2020)• Capacity : 1.6 GW (District Heating + Electric Power)

With 30 years of operating experiences in combined heat and power, GS E&R has a competitive advantage in total power generation solutions from coal-fired power to renewables such as wind and solar energy.

The sustainable value and energy partner for a better life

GS E&R supplies high-quality steam and electricity produced at Banwol, Gumi and Pocheon plants to national industrial complexes at a competitive cost.

Donghae Electric Power, the 1st private-sector baseload power plant, installed coal-fired power plant (1,190MW) in Bukpyeong industrial complex with world-class ‘USC’ (Ultra Super Critical) technology.

YeongYang Wind Power Complex(currently 83.6MW) is the second largest in Korea, expanding its renewable capacity for sustainable growth, including solar, biomass and ESS.

We are the largest independent oil product distributor in Korea, distributing oil product and supplying from refineries such as GS Caltex to gas stations, industries and general seller nationwide.

Combined Heat & Power

Thermal Power Plant

Renewable Energy

Petroleum Product Distribution

GS Wind Power Complex

GS Donghae Electric Power Gumi CHP

Electric Power

District Heating & Cooling

Energy Efficiency Business

Renewable Energy

GS Power

ELECTRIC POWER &DISTRICT HEATING / COOLING

History

•2000 Established GS Power• 2013 Launched thermal networking projects with neighbouring businesses• 2013 Obtained construction permit of Anyang CHP #2• 2018 Started the commercial operation of Anyang CHP #2-1•2019 Under Construction Anyang CHP # 2-2•2020 Obtained construction permit of Bucheon CHP #2

•Total Assets: USD 2.1 Billion [As of 2020]• Capacity : 1.4GW [District Heating + Electric Power]

Operating combined heat and power plants with a capacity of 1.4GW, GS Power supplies district heating & cooling energy to approximately 380,000 households and we are expanding our business into areas such as energy efficiency and renewable energy.

Value No.1 clean energy provider

GS Power operates combined heat and power plants with capacities of 1.4GW and we supply stable electric power to the metropolitan area.

We provide eco-friendly district heating & cooling energy for approximately 380,000 households ) in Anyang, Bucheon, Gunpo, Uiwang, Gwacheon and Incheon.

With the latest technology, we offer optimal energy efficiency solutions for buildings and industrial plants.

We invest in renewable energy business that make use of solal power, small hydropower and wind power thchnologies.

Electric Power

District Heating & Cooling

Energy Efficiency Business

Renewable Energy

Anyang CHP

GS25Convenience Store

GS THE FRESH Supermarket

GS Fresh Mall Online E-grocery

lalavlaHealth & Beauty Store

Parnas HotelHotel Business

GS SHOPTV Shopping Mobile & Online ShoppingT-Commerce Creating a Venture Ecosystem

GS Retail

RETAIL & HOTEL

History

•1971 Established Gumsung Electrical Industry Co., Ltd•2009 Launched integrated brand GS SHOP•2015 Acquired Parnas Hotel•2016 Reached 10,000 GS25 stores•2016 Opened the 1st GS Supermarket in Indonesia•2018 Opened the 1st GS25 in Vietnam

USD 6.6 Billion14,688 Stores320 Stores124 Stores

::: :

•Total Assets•Convenience Store •Supermarket •Health & beauty

(As of 2020)

GS25 is where you can find happiness nearby. GS THE FRESH is close to the life of customers with a wide variety of fresh food. lalavla is a health & beauty shop where you can discover healthy beauty. ·GS25 : The best convenience store in Korea with the highest profitability. ·GS THE FRESH : Offering fresh groceries and an enjoyable shopping experience.·GS SHOP : Beyond TV home shopping, it expands to various sales channels such as the Internet, mobile, and T-commerce.

With 30 years of expertise and experience in hotel business, Parnas Hotel, including Grand Intercontinental Seoul Parnas & Intercontinental Seoul COEX provides high quality of services and accommodation experience to our customers. [After a year of renovation, Grand Intercontinental Seoul Parnas Hotel reopened on December 1, 2020]

GS Retail Brand

Parnas Hotel

As a leading retailer in Korea, GS Retail has been dedicated to offering best quality, best price, best services to our customers in every aspect. We have grown to a global company and expanded our business to Indonesia, Vietnam and Mongolia. We also offer innovative products such as meal-kits to enrich customer’s Life.

A life innovator, bringing joyinto the lives of customers

GS THE FRESH

Grand InterContinental Seoul Parnas

GS25 Parnas Tower Branch, 1st floor of Parnas Tower

lalavla

Overseas Business

GS Home Shopping operates 24 hours a day for about 376 million households in 5 countries. Since 2009, our joint ventures have continued to bring outstanding Korean products to global customers.

Creating a Venture Ecosystem

Globally investing 350 million USD in620 companies with major VC firms(Korea, China, Southeast Asia, Middle East, etc.)

Based on a competitive global network, GS Global has actively developed trading expertise for steel, resources (coal and biomass), petrochemicals and industrial supplies. Our business expands to project development and new opportunities.

A global networker, expanding the territory of the global economy

GS Global

INTERNATIONAL TRADE

History

•1954 Established Gumsung Industry Co., Ltd•1975 Designated as the 2nd general trading company in Korea•2009 Incorporated to GS Group •2010 Acquired GS Entec•2017 Acquired Shares of BSSR Coal Mine in Indonesia•2020 Established Gyeonggi Pyeongtaek Global Co., Ltd

•Total Assets : USD 0.8 Billion (As of 2020)•Global network : 25 overseas offices

We import and export steel, resources (coal and biomass), petrochemicals and industrial products.

We provide imported car PDI (Pre-Delivery Inspection) services, unloading and transporting services, and special equipment vehicles manufacturing business while engage in port and porthinterlanddevelopment project to support logistics business.

In pursuit of sustainable growth, we are actively developing new business opportunities in the fields of EV (Electric Vehicle) and mobility, new and renewable energy, recycling, healthcare, and robotics business integrated with Digital Transformation.

With innovative technologies and essential equipment in chemical & energy business, GS Entec manufactures core equipments for refinery, petrochemicals and power plants such as heat exchanger, heat recovery steam generator (HRSG).

Trade & Distribution

Logistics

Manufacturing (GS Entec)

New Business Development

Trading & DistributionSteelCoal & BiomassPetroleum & ChemicalsIndustrial Products

LogisticsPDISpecial Equipment VehicleSOC Development Business

New Business DevelopmentEV/MobilityNew and Renewable EnergyRecyclingHealthcare/Robotics

ManufacturingGS Entec (CPE & HRSG)

GS Entec (subsidiary company)

GS Sports

PROFESSIONAL SPORTS

History

•2004 Launched GS Sports•2007/2009 Friendly match between FC Seoul and Manchester United•2015 FA Cup champion, FC Seoul•2016 K-league Classic champion, FC Seoul•2017 FC Seoul reached 300,000 spectators for 8 consecutive years (first in K-League)•2020 KOVO Cup champion, GS Caltex Seoul Kixx Volleyball Team•2020-2021 V-league champion, Final Championship Winner,

GS Caltex Seoul Kixx Volleyball Team

• FC Seoul, No.1 Football Team by highest spectators and ticket sale volume (2019)

• GS Caltex Seoul Kixx Volleyball Team have made great triumph 'Treble Champion' in 2020-2021, the first achievement in history of Korean V-league

Football

Volleyball

The most reputed team in the professional football league stationed in Seoul, they won 6 times in the K-league, twice in the FA Cup and once in the Super Cup.

A famous and beloved volleyball team stationed in Seoul, they won 3 times in the final championship, twice in the V-league and 4 times in the KOVO Cup, including historic 'Treble Champion' in 2020-2021.

FC Seoul

GS Caltex Seoul Kixx Volleyball Team

Managing the FC Seoul football club and the GS Caltex Seoul Kixx volleyball team, GS Sports contributes to expanding the basis of professional sports in Korea. We make watching sports games a play culture that everyone in the family can enjoy.

Expert in 'Sportainment' (sport + entertainment),opening up more an exciting and vibrant world

Friendly match between FC Seoul and Manchester United during 2009 Manchester United Korea Tour

Seoul World Cup Stadium

Being achieved an “A (excellent)” grade in the ESG evaluation by the KCGS* and listed on DJSI*Asia Pacific for 11 consecutive years prove GS E&C is the best global company.

Beyond Korea's top toward the world top.

* KCGS : Korea Corporate Governance Service* DJSI : Dow Jones Sustainability Index

Building & Housing

Plant

Infrastructure

Power

Leisure

GS E&C

ENGINEERING & CONSTRUCTION

History

•1969 Established Lakhee Development •1995 Changed company title to LG E&C •2005 Changed company title to GS E&C•2010 Became a sole supplier of Ruwais Refinery Expansion Project Package No. 2 in UAE (USD 3.6 billion)•2015 MTO project MOU with Uzbekistan (USD 4.5 billion) •2016 T301 project in Singapore (USD 1.4 billion)•2017 Ruwais Refinery fire recovery work in UAE •2018 New Selander Bridge Project in Tanzania •2019 Photovoltaic Power Generation Project in India and Ukraine•2019 Petrochemical Plant Project in Turkey (USD 1.4 billion) •2020 ITTC from LTA in Singapore (SGD 550 billion)

•Total Assets: USD 12.2 billion (As of 2020) •Global Business : About 27 countries, 186 project sites

We are contributing to a sustainable country development by constructing not only conventional power plant but also clean renewable energy power plants.

We are accomplishing remarkable growth by building roads, railroads, water resources and ports in domestic & overseas market.

From golf course & ski resort to condominiums, we provide relaxation and joy to customer’s life.

Achieving global competitiveness in refinery, petrochemicals and gas & power sector,we are expanding its operation to the emerging markets such as Thailand, Vietnam and the Middle East.

Building the aesthetics of a city that transforms the world scenery more Beautiful,we attract attention with constructions that combine cutting-edge features with formative aesthetics.

Power

Infrastructure

Leisure

Plant

Building &�Housing

Banpo Xi Sohar Aromatics

Noryang Grand Bridge Elysian Jeju

CREATING NEW VALUE AND BEYOND

Creating new businesses by improving digital capabilitiesSeeking sustainable growth by pursuing eco-friendly value

Management Philosophy

Creating new values in life and dreaming of a better future for our customers

VisionRespected & Value No.1 GS

Eco-friendlyPrinciple

Growth through Sustainability

Less HarmfulEfficient use of resources and reduced hazardous materials

Net ZeroProvide customers with an eco-friendly lifestyle

through service and product enhancements

PositiveDiscover sustainable growth

engines with digital and bio-technology

InnovateImproveReduce

Environmental Impact