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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2025
TextBlock 1 [Abstract] |
Commitments and Contingencies |
38. | Commitments and Contingencies
(a) | Contingent liabilities
Contingent liabilities can change due to unforeseen circumstances; therefore, management continuously reviews whether the likelihood of an outflow of resources embodying economic benefits has increased. Except in extremely rare circumstances where it cannot be reliably estimated, if the likelihood of an outflow of future economic benefits has increased, even if it had been treated as a contingent liability in the past, such changes in likelihood are recognized as a provision in the consolidated financial statements for the period in which the change occurred. Management makes estimates and assumptions that affect disclosures of commitments and contingencies. All estimates and assumptions are based on the evaluation of current circumstances and appraisals with the supports of internal and/or external specialists. Management regularly analyzes the most current information on contingent events and provides information regarding provisions related to contingent losses, including potential estimated legal costs. Such assessments are based on the consultations with internal and external legal counsel. In making the decision on the recognition of a provision, management considers the likelihood of an outflow of resources embodying economic benefits to settle the obligation and the possibility of making a reliable estimate of the amount.
(b) | Details of guarantees
1) Contingent liabilities on outstanding guarantees provided by the Company as of December 31, 2025 are as follows:
(in millions of Won) |  |  |  |  |  | Guarantee limit |  |  | Guarantee amount |
Guarantor |  | Guarantee beneficiary |  | Financial institution |  | Foreign currency |  |  | Won equivalent |  |  | Foreign currency |  |  | Won equivalent |
[The Company] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO HOLDINGS INC. |  | POSCO Asia Co., Ltd. |  | ING BANK and others |  | USD | 200,000,000 |  |  |  | 286,981 |  |  |  | 32,000,000 |  |  |  | 45,917 |
|  | POSCO Argentina S.A.U |  | HSBC and others |  | USD | 1,079,900,000 |  |  |  | 1,549,547 |  |  |  | 1,017,467,072 |  |  |  | 1,459,962 |
POSCO |  | POSCO ASSAN TST STEEL INDUSTRY Inc |  | Citibank and others |  | USD | 122,850,000 |  |  |  | 176,277 |  |  |  | 122,850,000 |  |  |  | 176,277 |
POSCO INTERNATIONAL Corporation |  | PT. Bio Inti Agrindo |  | Hana Bank Indonesia and others |  | IDR | 631,200,000,000 |  |  |  | 54,031 |  |  |  | 631,200,000,000 |  |  |  | 54,031 |
|  | POSCO ASSAN TST STEEL INDUSTRY Inc |  | Woori Bank Hong Kong and others |  | USD | 13,650,000 |  |  |  | 19,586 |  |  |  | 13,650,000 |  |  |  | 19,586 |
|  | POSCO INTERNATIONAL Deutschland GmbH |  | Bank Mendes Gans Amsterdam |  | USD | 50,000,000 |  |  |  | 71,745 |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL JAPAN Corp. |  |  |  |  |  |  |  |  |  |  |  |  | 15,987,721 |  |  |  | 22,941 |
|  | POSCO INTERNATIONAL AMERICA Corp. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL SINGAPORE Pte. Ltd. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL Malaysia SDN BHD |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL ITALIA S.R.L. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL MEXICO S.A. de C.V. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | POSCO INTERNATIONAL AUSTRALIA HOLDINGS PTY LTD |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
(in millions of Won) |  |  |  |  |  | Guarantee limit |  |  | Guarantee amount |
Guarantor |  | Guarantee beneficiary |  | Financial institution |  | Foreign currency |  |  | Won equivalent |  |  | Foreign currency |  |  | Won equivalent |
|  | POSCO INTERNATIONAL MEXICO E-MOBILITY S.A DE C.V. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | INTERNATIONAL POLAND E-MOBILITY SP. Z O.O. |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |
|  | PT. KRAKATAU POSCO ENERGY |  | POSCO Asia Co., Ltd. and others |  | USD | 102,903,407 |  |  |  | 147,656 |  |  |  | 29,400,000 |  |  |  | 42,186 |
|  | POSCO INTERNATIONAL MEXICO E-MOBILITY S.A DE C.V. |  | Export-Import Bank of Korea and others |  | USD | 52,054,800 |  |  |  | 74,693 |  |  |  | 51,379,000 |  |  |  | 73,724 |
|  | POSCO INTERNATIONAL POLAND E-MOBILITY SP. Z O.O. |  | BNP Paribas Polska S.A. |  | EUR | 23,678,000 |  |  |  | 39,914 |  |  |  | 23,678,000 |  |  |  | 39,914 |
|  | PT POSCO INTERNATIONAL ENP INDONESIA |  | PT Bank Negara Indonesia |  | USD | 750,000 |  |  |  | 1,076 |  |  |  | 750,000 |  |  |  | 1,076 |
|  | AGPA PTE. LTD. |  | SMBC Singapore |  | USD | 20,880,000 |  |  |  | 29,961 |  |  |  | 20,880,000 |  |  |  | 29,961 |
|  | POSCO INTERNATIONAL ALASKA ENERGY LLC |  | Glenfarne Alaska Partners, LLC |  | USD | 45,000,000 |  |  |  | 64,571 |  |  |  | 45,000,000 |  |  |  | 64,571 |
POSCO STEELEON CO.,LTD. |  | Myanmar POSCO C&C Company, Limited. |  | POSCO Asia Co., Ltd. |  | CNY | 121,678,106 |  |  |  | 24,915 |  |  |  | 101,398,422 |  |  |  | 20,762 |
POSCO FUTURE M CO., LTD. |  | ULTIUM CAM LIMITED PARTNERSHIP |  | Investissement Quebec, Strategic Innovation Fund |  | CAD | 299,562,500 |  |  |  | 313,858 |  |  |  | 232,265,400 |  |  |  | 243,349 |
|  |  |  | Shinhan Bank |  | USD | 100,000,000 |  |  |  | 143,490 |  |  |  | 100,000,000 |  |  |  | 143,490 |
[Associates and joint ventures] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO HOLDINGS INC. |  | Nickel Mining Company SAS |  | ING Bank |  | EUR | 46,000,000 |  |  |  | 77,543 |  |  |  | 46,000,000 |  |  |  | 77,543 |
|  | PT.Nicole Metal Industry |  | OCBC Bank and others |  | USD | 40,180,000 |  |  |  | 57,654 |  |  |  | 17,090,526 |  |  |  | 24,523 |
POSCO |  | POSUK Titanium |  | Shinhan Bank |  | USD | 12,750,000 |  |  |  | 18,295 |  |  |  | 12,750,000 |  |  |  | 18,295 |
POSCO INTERNATIONAL Corporation |  | GLOBAL KOMSCO Daewoo LLC |  | Hana Bank Bahrain |  | USD | 6,650,000 |  |  |  | 9,542 |  |  |  | 4,200,000 |  |  |  | 6,027 |
POSCO Eco & Challenge Co., Ltd. |  | Chun-cheon Energy Co., Ltd |  | Kookmin Bank and others |  | KRW | 149,200 |  |  |  | 149,200 |  |  |  | 117,980 |  |  |  | 117,980 |
[Others] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  | Subcontractors for maintenance projects, etc. |  | Kookmin Bank and others |  | KRW | 380,652 |  |  |  | 380,652 |  |  |  | 65,338 |  |  |  | 65,338 |
POSCO AUSTRALIA PTY LTD |  | Department of Trade and Investment (NSW Government) and others |  | Woori Bank and others |  | AUD | 18,744,862 |  |  |  | 18,014 |  |  |  | 18,744,862 |  |  |  | 18,014 |
PT. Bio lnti Agrindo |  | KSU Mandob Sejatera |  | Bank Muamalat |  | IDR | 80,000,000,000 |  |  |  | 6,848 |  |  |  | 5,866,666,666 |  |  |  | 502 |
POSCO COATED STEEL (THAILAND) CO., LTD. |  | AMATA NATURAL GAS DISTRIBUTION COMPANY LIMITED and others |  | SC Bank |  | THB | 54,614,000 |  |  |  | 2,492 |  |  |  | 54,614,000 |  |  |  | 2,492 |
|  | BUREAU OF INDIAN STANDARDS (BIS) |  | SC Bank |  | USD | 10,000 |  |  |  | 14 |  |  |  | 10,000 |  |  |  | 14 |
POSCO Maharashtra Steel Private Limited |  | Gail India and others |  | Deutsche Bank and others |  | INR | 1,049,571,593 |  |  |  | 16,772 |  |  |  | 1,049,571,593 |  |  |  | 16,772 |
PT. Prime Agri Resources |  | Koperasi Bakomo Diri Maju (KBDM) and others |  | Koperasi Simpan Pinjam Sahabat Mitra Sejati and others |  | IDR | 339,798,202,782 |  |  |  | 29,087 |  |  |  | 339,798,202,782 |  |  |  | 29,087 |
2) | The details of credit enhancements by types of the Company’s PF business as of December 31, 2025 are as follows:
① | Maintenance projects and others
| a. | Details of PF credit enhancements including debt assumption and supplemental funding agreement and maturity of the related loans as follows:
(in millions of Won) |  |  | Balance of the loans |
Provider |  | Projects(*1) |  |  | Borrower |  |  | Type |  |  | Credit enhancement measures |  |  | Agreed amount |  |  | Executed amount |  |  | Total |  |  | Within 3 months |  |  | 3~6 months |  |  | 6 months ~1 year |  |  | 1 year ~2 years |  |  | 2 years ~3 years |  |  | After 3 years |
[The Company] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  |  | Other projects |  |  |  | JB CLARK HILLS CORP |  |  |  | Main PF |  |  |  | Debt assumption |  |  | ￦ | 45,630 |  |  |  | 38,025 |  |  |  | 38,025 |  |  |  | — |  |  |  | — |  |  |  | 38,025 |  |  |  | — |  |  |  | — |  |  |  | — |
[Associates and joint ventures] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  |  | Other projects |  |  |  | New Songdo International City Development, LLC |  |  |  | Mortgage loan |  |  |  | Debt assumption |  |  |  | 494,000 |  |  |  | 321,300 |  |  |  | 321,300 |  |  |  | — |  |  |  | 74,500 |  |  |  | — |  |  |  | 246,800 |  |  |  | — |  |  |  | — |
[Others] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  |  | Maintenance projects |  |  |  | Bangbae Shindonga Apartment Reconstruction and Maintenance Project Association, etc. |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 1,359,516 |  |  |  | 592,214 |  |  |  | 592,214 |  |  |  | — |  |  |  | 63,400 |  |  |  | 48,174 |  |  |  | 94,447 |  |  |  | 95,075 |  |  |  | 291,118 |
|  |  | Other projects |  |  |  | Civic Center PFV |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 45,000 |  |  |  | 45,000 |  |  |  | 45,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45,000 |
|  |  | Other projects |  |  |  | LandmarkSewoon |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 50,000 |  |  |  | 50,000 |  |  |  | 50,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,000 |
|  |  | Other projects |  |  |  | DAON INP Co., Ltd. |  |  |  | Main PF |  |  |  | Joint guarantee |  |  |  | 78,000 |  |  |  | 60,000 |  |  |  | 60,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 60,000 |  |  |  | — |
|  |  | Other projects |  |  |  | Jeonju Eco-city |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 53,300 |  |  |  | 22,600 |  |  |  | 22,600 |  |  |  | — |  |  |  | — |  |  |  | 22,600 |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  | Other projects |  |  |  | Alpha City H&G., Ltd. |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 60,000 |  |  |  | 60,000 |  |  |  | 60,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 60,000 |  |  |  | — |
|  |  | Other projects |  |  |  | Island One |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 50,000 |  |  |  | 50,000 |  |  |  | 50,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 50,000 |  |  |  | — |
|  |  | Other projects |  |  |  | Hankook Asset Development Co., Ltd. |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 48,000 |  |  |  | 40,000 |  |  |  | 40,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 40,000 |  |  |  | — |  |  |  | — |
|  |  | Other projects |  |  |  | Daegu MBC Site Mixed-use Development PFV |  |  |  | Main PF |  |  |  | Debt assumption |  |  |  | 80,000 |  |  |  | 80,000 |  |  |  | 80,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 80,000 |  |  |  | — |
POSCO DX Co., Ltd. |  |  | Other projects |  |  |  | Jeonnong school keeper co. and others(*2) |  |  |  | Main PF |  |  |  | Supplemental funding agreement and others |  |  |  | 123,309 |  |  |  | 36,691 |  |  |  | 36,691 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,367 |  |  |  | 35,324 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,947,125 |  |  |  | 1,036,505 |  |  |  | 1,036,505 |  |  |  | — |  |  |  | 63,400 |  |  |  | 70,774 |  |  |  | 134,447 |  |  |  | 346,442 |  |  |  | 421,442 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ￦ | 2,486,755 |  |  |  | 1,395,830 |  |  |  | 1,395,830 |  |  |  | — |  |  |  | 137,900 |  |  |  | 108,799 |  |  |  | 381,247 |  |  |  | 346,442 |  |  |  | 421,442 |
(*1) | The maintenance project mainly consists of reconstruction and condominium construction projects, and other projects consist of office buildings, retail shops, warehouses, and educational facilities.
(*2) | The obligation to supplement funding has been included in the Company’s proportionate interests. The execution amount of the supplement funding obligation may vary depending on the fulfillment of such obligations by other construction investors or operational investors. (Including other interests: guarantee limit of ￦ 1,122,320 million, outstanding loan balance of ￦ 337,508 million)
b. | The details of conditional debt assumption and principal repayment contracts in the event of construction default as of December 31, 2025 are as follows:
(in millions of Won) |  |  |  |  |  |  |  |  |  |  |
|  |  |  | Contract amount |  |  | Contingency amount(*1)(*2) |  |  | Balance of loans |
Maintenance projects |  | Total amount |  | ￦ | 8,665,234 |  |  |  | 3,388,729 |  |  |  | 1,705,326 |
|  | Amount attributable to the Compan y |  |  | 6,737,433 |  |  |  | 2,607,511 |  |  |  | 1,212,673 |
Other projects |  | Total amount |  |  | 2,197,729 |  |  |  | 5,350,000 |  |  |  | 1,392,900 |
|  | Amount attributable to the Compan y |  |  | 2,197,729 |  |  |  | 5,350,000 |  |  |  | 1,392,900 |
|  | Total amount |  |  | 10,862,963 |  |  |  | 8,738,729 |  |  |  | 3,098,226 |
|  | Amount attributable to the Compan y |  | ￦ | 8,935,162 |  |  |  | 7,957,511 |  |  |  | 2,605,573 |
(*1) | The overlapping amount with other credit enhancements such as the debt assumption agreement at the time of loan origination amounted to ￦ 28,305 million for maintenance projects.
(*2) | In the case of joint subcontracting projects, the total joint guarantee amount of the project participants is disclosed. The final execution amount of completion may vary depending on reasons attributable to project participants upon actual completion.
c. | The details of contingencies of claim for damages in the event of construction default as of December 31, 2025 are as follows:
(in millions of Won) |  |  |  | Contract amount |  |  | Contingency amount(*1)(*2) |  |  | Balance of loans |
Other project s |  | Total amount |  | ￦ | 11,500,272 |  |  |  | 12,756,200 |  |  |  | 8,391,513 |
|  | Amount attributable to the Company |  |  | 10,871,875 |  |  |  | 12,366,854 |  |  |  | 8,068,064 |
(*1) | The overlapping amount with other credit enhancements such as the debt assumption agreement at the time of loan origination amounted to ￦ 385,000 million for maintenance projects.
(*2) | In the case of joint subcontracting projects, the total joint guarantee amount of the project participants is disclosed. The final execution amount of completion may vary depending on reasons attributable to project participants upon actual completion.
② | SOC projects
(in millions of Won) |  |  |  |  |  |  |  |  |  |
Provider |  | Recipient |  | Credit enhancement measures |  | Approved amount |  |  | Remaining balance after repayment |
[Associates and joint ventures] |  |  |  |  |  |  |  |  |  |  |  |
POSCO DX Co., Ltd . |  | Pocheon-Hwado Highway Corp.(*1) |  | Providing funds |  | ￦ | 24,923 |  |  |  | 22,234 |
POSCO Eco & Challenge Co., Ltd. |  | Pocheon-Hwado Highway Corp.(*1) |  | Providing funds |  |  | 319,515 |  |  |  | 285,039 |
|  | POHANG E&E Co., LTD(*2) |  | Providing funds and supplemental funding agreement |  |  | 71,930 |  |  |  | 39,266 |
|  | Pureun Tongyeong Enviro Co., Ltd.(*2) |  | Providing funds |  |  | 25,630 |  |  |  | 9,804 |
|  | Pure Gimpo.Co.,Ltd(*2) |  | Providing funds |  |  | 51,565 |  |  |  | 21,181 |
|  | Clean Iksan Co.,Ltd(*2) |  | Providing funds |  |  | 44,054 |  |  |  | 20,137 |
|  |  |  |  |  |  | 537,617 |  |  |  | 397,661 |
[Others] |  |  |  |  |  |  |  |  |  |  |  |
POSCO DX Co., Ltd. |  | Western Inland highway CO.,LTD. |  | Providing funds |  |  | 47,348 |  |  |  | 32,668 |
|  | Busan Sanseong Tunnel |  | Refinancing |  |  | 7,621 |  |  |  | 7,621 |
POSCO Eco & Challenge Co., Ltd(*3) |  | Western Seoul highway CO.,LTD. and others |  | Supplemental funding agreement |  |  | 63,683 |  |  |  | 28,201 |
|  | Western Inland highway CO.,LTD. and others |  | Providing funds |  |  | 2,778,848 |  |  |  | 1,562,721 |
|  | Pohang Youngil Bay New Port |  | Debt assumption |  |  | 2,250 |  |  |  | 1,440 |
|  | Busan Sanseong Tunnel |  | Refinancing |  |  | 35,296 |  |  |  | 26,750 |
|  |  |  |  |  |  | 2,935,046 |  |  |  | 1,659,401 |
|  |  |  |  |  | ￦ | 3,472,663 |  |  |  | 2,057,062 |
(*1) | The Company provides a funding commitment of ￦ 307,273 million (including other shares: ￦ 555,848 million) equivalent to the Company’s shares of the loan balance for the private investment project.
(*2) | The Company provides a funding commitment of ￦ 90,387 million (including other shares: ￦ 163,819 million) equivalent to the Company’s shares of the loan balance for the private investment project.
(*3) | The Company provides a funding commitment of ￦ 1,619,113 million (including other shares: ￦ 7,702,054 million) equivalent to the Company’s shares of the loan balance for the private investment project.
| 3) | Other guarantees
① | As of December 31, 2025, the payment guarantees that the Company provides to clients, such as contract performance guarantees, installment guarantees, and defect guarantees, by subscribing to insurance policies with guarantee insurance companies or issuing guarantee certificates are as follows:
(in millions of Won) |  |  |  |  |  |  |  |  |
Provider of credit enhancement |  | Recipient of credit enhancement |  | Types of guarantees |  | Agreed amount |  |  | Executed amount |  |  | Guarantor
[Subsidiaries] |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  | Ventanas Philippines Construction Inc |  | Guarantee on performance for contracts and others |  | ￦ | 11,202 |  |  |  | 11,202 |  |  | Korea Trade Insurance Corporation and others
POSCO GYR Tech |  | POSCO and others |  | Defect liability warranty |  |  | 101 |  |  |  | 101 |  |  | CI Guarantee
|  |  |  |  |  |  | 11,303 |  |  |  | 11,303 |  |  |
[Associates] |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  | PT.Tanggamus Electric Power |  | Letter of credit |  |  | 2,877 |  |  |  | 2,877 |  |  | Hana Bank
|  | PT. Wampu Electric Power |  | Letter of credit |  |  | 2,583 |  |  |  | 2,583 |  |  | Hana Bank
|  |  |  |  |  |  | 5,460 |  |  |  | 5,460 |  |  |
[Others] |  |  |  |  |  |  |  |  |  |  |  |  |  |
POSCO Eco & Challenge Co., Ltd. |  | DAEWOO ENGINEERING & CONSTRUCTION Co., Ltd and others |  | Guarantee on performance for construction and others |  |  | 8,803,087 |  |  |  | 8,793,877 |  |  | Construction Guarantee Cooperative and others
POSCO WIDE Co., Ltd |  | Human Eco-Land Co., Ltd. |  | Guarantee on performance for contracts |  |  | 3,050 |  |  |  | 3,050 |  |  | Seoul Guarantee Insurance
POSCO GYR Tech |  | KEPCO KPS and others |  | Defect liability warranty |  |  | 1,095 |  |  |  | 1,095 |  |  | CI Guarantee
|  |  |  |  |  |  | 8,807,232 |  |  |  | 8,798,022 |  |  |
|  |  |  |  |  | ￦ | 8,823,995 |  |  |  | 8,814,785 |  |  |
② | As of December 31, 2025, the primary payment guarantees and other guarantees that the Company is provided from the guarantee institution are as follows:
(in millions of Won) |  |  |  |  |
Provider |  | Types of guarantees |  | Agreed amount |  |  | Executed amount |
Construction Guarantee Cooperative |  | Subcontractor Payment Guarantee and others |  | ￦ | 5,255,953 |  |  |  | 5,255,953 |
Engineering guarantee insurance |  | Guarantee on performance for EPC contracts and others |  |  | 913,756 |  |  |  | 700,662 |
Seoul Guarantee Insurance |  | Construction performance guarantee and others |  |  | 517,441 |  |  |  | 517,441 |
Korea Housing & Urban Guarantee Corporation |  | Housing Guarantee and others |  |  | 5,711,921 |  |  |  | 5,038,742 |
Woori Bank and others |  | Foreign currency guarantee |  |  | 1,953,945 |  |  |  | 897,193 |
Korea software financial cooperative |  | Guarantee on performance for contracts |  |  | 120,173 |  |  |  | 114,611 |
Seoul Guarantee Insurance |  | Guarantee on performance and others |  |  | 80,249 |  |  |  | 80,249 |
Construction Guarantee Cooperative |  | Guarantee on performance for contracts |  |  | 24,482 |  |  |  | 195 |
CI Guarantee |  | Defect liability warranty |  |  | 1,196 |  |  |  | 1,196 |
|  |  |  | ￦ | 14,579,116 |  |  |  | 12,606,242 |
(c) | Major commitments
Details of major commitments of the Company as of December 31, 2025 are as follows:
Company |  | Description
POSCO HOLDINGS INC. |  | As of December 31, 2025, POSCO HOLDINGS INC. entered into a commitment with KOREA ENERGY AGENCY for long-term foreign currency borrowings, which are limited up to the amount of USD 1.05 million. The borrowing is related to the exploration of gas hydrates in Western Fergana-Chinabad. The repayment of the borrowings depends on the success of the projects. POSCO HOLDINGS INC. is not liable for the repayment of full or part of the amount borrowed if the respective projects fail. POSCO HOLDINGS INC. has agreed to pay a certain portion of its profits under certain conditions, as defined by the borrowing agreements.As of December 31, 2025, the ending balance of the borrowing amounts to USD 1.02 million. POSCO HOLDINGS INC. has deposited 86,611 treasury shares for exchange with the Korea Securities Depository in relation to foreign currency exchangeable bonds as of December 31, 2025.
POSCO |  | POSCO entered into long-term contracts to purchase iron ore, coal, nickel and others. The long-term purchase contract period is more than two years for iron ore, three years for coal, and one year for nickel. These contracts provide for periodic price adjustments based on the market price. As of December 31, 2025, 48 million tons of iron ore and 18 million tons of coal remained to be purchased under such long-term contracts. POSCO entered into an agreement with Tangguh Liquefied Natural Gas (LNG) Consortium in Indonesia to purchase of LNG . The purchase contract period and volume are 550,000 tons per year for 20 years from August 2005, and 120,000 tons from September 2025 to December 2026. The purchase price is subject to change, based on changes of the monthly standard oil price (JCC) and with a price ceiling. POSCO has a long-term service contract for the transportation of raw material. As of December 31, 2025, there are 32 vessels under contract, and the average remaining contract period is about 6 years. POSCO entered into an agreement (LNG SPA) with POSCO INTERNATIONAL SINGAPORE PTE LTD. to purchase 370 thousand tons of LNG annually for 15 years commencing in November 2026.The purchase price is subject to change based on changes of U.S. Henry Hub Natural Gas Spot Price. POSCO has extension option of extending the purchase contract by five years. POSCO has entered into a LNG terminal usage agreement with POSCO INTERNATIONAL Corporation to consume directly imported LNG for processing and power generation at the Pohang and Gwangyang steelworks after unloading, storing, vaporizing, and transmitting it through the Gwangyang LNG terminal. This agreement grants the Company the exclusive and sole right to use 200,000 of LNG storage capacity in the new LNG storage tank and to use the terminal facilities, including other ancillary equipment. The contract period is from September 1, 2025, to August 31, 2041.
Company |  | Description
|  | Regarding the shares of FEWM CO., LTD., POSCO holds a put option, exercisable from July 1, 2026, to June 30, 2027. This gives the Company the right to claim the sale of its shares in the entity at a pre-negotiated exercise price, to the extent that the Company’s stake reaches 59% of the total issued shares of the entity at that time.
POSCO INTERNATIONAL Corporation |  | The Company invested in the Ambatovy Nickel Project (DMSA/AMSA) in Madagascar through the Korea Ambatovy Consortium (KAC) formed with Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR) and STX Corporation. SHERRITT INTERNATIONAL CORP., the operator, transferred a portion of the project’s interests to Sumitomo and AHL (Ambatovy Holdings Limited) in November 2017, and transferred the remaining interests of the project to Sumitomo and AHL2 (Ambatovy Holdings II Limited) in August 2020. KAC has the rights and obligations to the 15.33% stake held by AHL and AHL2.
|  | As of December 31, 2025, according to the investor agreement for the construction of Samcheok Thermal Power Plant, POSCO INTERNATIONAL Corporation is obligated to make contributions for core capital, unqualified investment, excess expenses occurred for business, and acceleration of payment.
POSCO FUTURE M CO., LTD |  | In accordance with the GP Shareholders Agreement with GM Battery Raw Materials Corporation (“GM”), the Company has an obligation to make additional capital contributions to ULTIUM CAM LIMITED PARTNERSHIP. As of December 31, 2025, the remaining amount of USD 484,364 thousand is scheduled to be contributed additionally by 2026 through capital call.
(d) | Commitment for asset acquisition
The commitment amount for the acquisition of major assets that has not yet occurred as of December 31, 2024 and 2025 are as follows:
(In millions of Won) |  | 2024 |  |  | 2025 |
Property, plant and equipment |  | ￦ | 5,853,808 |  |  |  | 5,573,047 |
Intangible assets |  |  | 27,859 |  |  |  | 42,124 |
Investments in associates and joint ventures |  |  | 92,958 |  |  |  | 167,683 |
|  | ￦ | 5,974,625 |  |  |  | 5,782,854 |
(e) | Litigation in progress
As of December 31, 2025, litigations in progress that POSCO HOLDINGS INC. and certain subsidiaries are defendants in legal actions arising from the normal course of business are as follows:
(in millions of Won, in thousands of foreign currencies) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company |  | Legal actions |  |  | Claim amount |  |  | Won equivalent |  |  | Description
POSCO HOLDINGS INC. |  |  | 3 |  |  |  | KRW |  |  |  | 669 |  |  |  | 669 |  |  | Lawsuit on claim for damages and others
POSCO |  |  | 181 |  |  |  | KRW |  |  |  | 542,579 |  |  |  | 542,579 |  |  | Lawsuit on claim for employee right and others
POSCO INTERNATIONAL Corporation |  |  | 1 |  |  |  | KRW |  |  |  | — |  |  |  | — |  |  | Lawsuit on claim for damages and others
|  |  | 2 |  |  |  | INR |  |  |  | 4,469,396 |  |  |  | 71,421 |  |  | Lawsuit on claim for payment on guarantees and others
|  |  | 5 |  |  |  | USD |  |  |  | 72,662 |  |  |  | 104,263 |  |  | Lawsuit on claim for damages and others
|  |  | 1 |  |  |  | PKR |  |  |  | 124,775 |  |  |  | 639 |  |  | Lawsuit on claim for damages
|  |  | 1 |  |  |  | ARS |  |  |  | 1,800 |  |  |  | 2 |  |  | Lawsuit on claim for damages
POSCO Eco & Challenge Co., Ltd. |  |  | 136 |  |  |  | KRW |  |  |  | 503,451 |  |  |  | 503,451 |  |  | Lawsuit on claim for damages and others
POSCO STEELEON Co.,Ltd. |  |  | 1 |  |  |  | KRW |  |  |  | 271 |  |  |  | 271 |  |  | Lawsuit on claim for damages
POSCO DX Co., Ltd . |  |  | 1 |  |  |  | BRL |  |  |  | 21,845 |  |  |  | 5,722 |  |  | Lawsuit on claim for damages
|  |  | 8 |  |  |  | KRW |  |  |  | 3,401 |  |  |  | 3,401 |  |  | Lawsuit on claim for damages and others
POSCO FUTURE M CO., LTD. |  |  | 1 |  |  |  | KRW |  |  |  | 600 |  |  |  | 600 |  |  | Lawsuit on claim for damages and others
POSCO A&C |  |  | 7 |  |  |  | KRW |  |  |  | 2,485 |  |  |  | 2,485 |  |  | Lawsuit on claim for damages and others
POSCO WIDE Co., Ltd. |  |  | 3 |  |  |  | KRW |  |  |  | 322 |  |  |  | 322 |  |  | Lawsuit on claim for damages and others
POSCO Mobility Solution Corporation |  |  | 2 |  |  |  | KRW |  |  |  | 615 |  |  |  | 615 |  |  | Lawsuit on claim for damages and others
POSCO-China Holding Corp. |  |  | 1 |  |  |  | USD |  |  |  | 2,580 |  |  |  | 3,702 |  |  | Lawsuit on claim for damages and others
POSCO Engineering and Construction India Private Limited |  |  | 2 |  |  |  | INR |  |  |  | 493,968 |  |  |  | 7,894 |  |  | Lawsuit on claim for payment and others
PT. POSCO E&C INDONESIA |  |  | 1 |  |  |  | IDR |  |  |  | 13,561,952 |  |  |  | 1,161 |  |  | Lawsuit on claim for payment and others
POSCO INDIA PROCESSING CENTER PRIVATE LIMITED |  |  | 1 |  |  |  | INR |  |  |  | 54,420 |  |  |  | 870 |  |  | Lawsuit on claim for damages
PT. KRAKATAU POSCO |  |  | 2 |  |  |  | IDR |  |  |  | 11,108,052 |  |  |  | 951 |  |  | Lawsuit over contract dispute and others
POSCO ZT AIR SOLUTION |  |  | 1 |  |  |  | KRW |  |  |  | 25 |  |  |  | 25 |  |  | Lawsuit on claim for damages
Pos-Sea Pte Ltd |  |  | 1 |  |  |  | USD |  |  |  | 3,200 |  |  |  | 4,592 |  |  | Lawsuit over contract dispute and others
Brazil Sao Paulo Steel Processing Center |  |  | 7 |  |  |  | BRL |  |  |  | 6,729 |  |  |  | 1,763 |  |  | Lawsuit on claim for labor and others
POSCO Thainox Public Company Limited |  |  | 2 |  |  |  | THB |  |  |  | 3,480 |  |  |  | 159 |  |  | Lawsuit on invalidation of a check
POSCO ASSAN TST STEEL INDUSTRY Inc. |  |  | 27 |  |  |  | USD |  |  |  | 132 |  |  |  | 189 |  |  | Lawsuit on claim for labor and others
POSCO Maharashtra Steel Private Limited |  |  | 1 |  |  |  | INR |  |  |  | 9,500 |  |  |  | 152 |  |  | Lawsuit on claim for labor and others
POSCO-TNPC |  |  | 1 |  |  |  | TRY |  |  |  | — |  |  |  | — |  |  | Lawsuit on claim for labor
POSCO-India Private Limited |  |  | 1 |  |  |  | INR |  |  |  | 2,466 |  |  |  | 39 |  |  | Lawsuit on claim for wages
POSCO MPPC S.A. de C.V. |  |  | 4 |  |  |  | MXN |  |  |  | 4,924 |  |  |  | 393 |  |  | Lawsuit on claim for labor and others
POSCO(Chongqing) Automotive Processing Center Co., Ltd. |  |  | 1 |  |  |  | CNY |  |  |  | 510 |  |  |  | 104 |  |  | Lawsuit on claim for penalty payment
The Company has recorded a provision for contingent losses for 38 lawsuits, including those related to guarantee obligations, and reasonably estimating the likelihood of occurrence and the amount (see Note 20). For all the other lawsuits and claims, management does not believe the Company has any present obligations and therefore, the Company has not recognized any provisions as of December 31, 2025 for the matters.
(f) | Other contingent circumstances
Other major contingencies for the Company as of December 31, 2025 are as follows:
Company |  | Description
POSCO HOLDINGS INC. |  | POSCO HOLDINGS INC. has provided 3 blank checks to Korea Energy Agency as collateral for long-term foreign currency borrowings.
|  | The Company has a joint obligation with the company newly established through spin-off, POSCO, to discharge all liabilities (including financial guarantee contracts) incurred prior to the spin-off date.
POSCO INTERNATIONAL Corporation |  | As of December 31, 2025, POSCO INTERNATIONAL Corporation has provided 19 blank promissory notes and 12 blank checks to Korea Energy Agency and others as collateral for the guarantee on performance for contracts and others.
POSCO Eco & Challenge Co., Ltd. |  | As of December 31, 2025, POSCO Eco & Challenge Co., Ltd. has provided 40 blank checks and 4 blank promissory notes as collateral for agreements and outstanding loans.
POSCO DX Co., Ltd . |  | As of December 31, 2025, POSCO DX Co., Ltd. has provided 7 blank checks to financial institutions as collateral for the guarantee on performance for contracts and others.
(g) | Other commitments
As of December 31, 2025, the Company has credit agreements for overdrafts, general loans, trade finance, and so forth with a number of financial institutions, including the Korea Development Bank. The total limit is ￦ 36,127.4 b illion, which is the Korean won equivalent of limits denominated in various foreign currencies.

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