Transaction with Affiliate Company

Transaction with Affiliate Company

The Board of Directors of Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on November 30, 2020 authorized the following related-party transactions with an affiliated company:

Purchase of retirement pension policy from Samsung Life Insurance Company

- To ensure stability of retirement benefit management and enhance overall profitability of the pension policy.

□ Major transaction terms

*Estimated amount for the financial year 2021 and the actual amount may differ.

Other information:

ž Number of Independent Directors present at the Board of Directors meeting: 6

ž Attendance of Audit Committee: Y

Purchase of retirement pension policy from Samsung Life Insurance Company

- To ensure stability of retirement benefit management and enhance overall profitability of the pension policy.

□ Major Transaction Terms

*Estimated amount for the financial year 2020 and the actual amount may differ.

Other Information:

ž Number of Independent Directors present at the Board of Directors meeting: 6

ž Attendance of Audit Committee: Y

※ This disclosure is in accordance with the Korean Fair Trade Act, which mandates that a company must disclose financial and real estate transactions in the event the value of such a transaction is greater or equal to KRW 5 billion and the counterparty is a financial affiliate of the party required to make the disclosure.