#1shuti.fura NEXON INVESTOR PRESENTATION Q4 2023 Owen Mahoney President and CEO | Shiro Uemura CFO | Junghun Lee Director February 8th, 2024 NEXON Co., Ltd.#2CEO Highlights#3Key Franchises Confident in Long-Term Trajectory, Despite Short-Term Challenges Major Titles Short-Term Challenges China Dungeon&Fighter Korea MapleStory ■ Trended as expected until late December when an unexpected imbalance in the in-game economy occurred ■ The imbalance is carrying over into QI and we are seeing soft performance of packaged-item sales from the Lunar New Year update (1/11) ■ In November, a promotional video made by a production company in Korea created a controversy, which led to negative consumer reaction ■ In January, the Korean Fair Trade Commission imposed sanctions alleging that Nexon had, in the past, engaged in an unfair trade practice. This news negatively impacted the MapleStory community Long-Term Approach ■ In 2024, we will not only double the amount of new content added in 2023, but also accelerate the update process ■This will include the renewal of existing characters, introduction of new characters, renovation of the existing item system, collaboration with popular IP, plus more raids, and other high-end content to stimulate player engagement and balance the in-game economy ▪ To create a more enjoyable experience, Nexon discontinued sales of a major probability-based item and transitioned to a business model that offers the same experience, paid for with in-game currency rather than a cash transaction. ■ We anticipate this transition will have a short-term negative impact on revenue but believe it will result in a long-term improvement in player satisfaction and engagement © 2024 NEXON Co., Ltd. All Rights Reserved. 3#4THE FINALS A THE FINALS 6 Successful Launch Embodies Our Long-Term Strategy Over 10 million global downloads in just two weeks with little marketing; broke into the top 5 most popular games on Steam Achieved outperforming bookings while having greater-than-expected deferred revenue Plan to introduce Season 2 in March; expect to stimulate player engagement and generate steady revenues Embark working closely with Nexon Korea's world-class Live Operations team; the East-West cross-company collaboration is a unique, key element of Nexon's long-term strategy © 2024 NEXON Co., Ltd. All Rights Reserved. 4#5CFO Highlights THE FINALS#6Q4 2023 Results#7• Q4 2023 Result Highlights Record-Setting Q4 Revenues Driven by MapleStory, Wars of Prasia, MapleStory: The Legends of Maple', and THE FINALS Revenues Below outlook due to shortfalls in MapleStory in Korea, FC ONLINE2, Dungeon&Fighter in China Roughly flat Y/Y. Growth from MapleStory and contributions from Wars of Prasia, MapleStory. The Legends of Maple in China, and THE FINALS were offset by decreases from Dungeon&Fighter, FC ONLINE2 and HIT2 • Operating Income Below outlook due to revenue underperformance and one-time expenses such as Change of retention incentive plan, which resulted in an additional expense of ¥3.3 billion Impairment loss of ¥1.4 billion primarily on prepaid royalties Recognition of ¥1.3 billion penalty imposed by the Korean FTC Y/Y decrease due to increases in HR costs³ and marketing expenses Net Loss 4,5 Below outlook due to operating income underperformance, ¥9.3 billion FX loss on U.S. dollar-denominated cash deposits, and an impairment loss of ¥44.4 billion on the AGBO investment booked as an equity-method company (Unit: millions, except per share data) (Unit: \ billions) Q4 2022 Q4 2023 Outlook Q4 2023 YoY % Revenues Operating Income Net Loss 4,5 Revenues ¥81,095 ¥87,921 PC6 54,152 61,370 ¥96,158 66,582 ¥84,577 59,804 4% 10% 81.1 84.6 Mobile 26,943 26,551 29,576 24,773 Operating income 10,968 11,364 2 17,819 4,546 (8%) (59%) Net loss 4,5 (7,591) 8,857 13,878 (41,887) na Earnings (Loss) per share5 (8.79) 10.44 ~ 16.36 (49.47) Exchange rates 100 KRW/JPY CNY/JPY USD/JPY 1 Official title of MapleStory M in China. 2 Official title is EA SPORTS FC™ ONLINE (PC) and EA SPORTS FCM ONLINE M (mobile). 3 HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A). 4 Net profit/loss refers to net profit/loss attributable to owners of the parent. 5 As a result of finalizing the provisional accounting treatment for a certain investment where the equity method is applied, "Equity loss of affiliates, equity method companies" decreased by 0.3 billion yen and "Net loss" decreased by 0.3 billion yen in Q4 2022. There is no financial impact on the annual performance of 2022. 6 PC revenues include other revenues besides PC online games and mobile games. 11.0 4.5 Q4 2022 Q4 2023 Q4 2022 Q4 2023 Q4 2022 Q4 2023 (7.6) 10.42 11.09 11.09 11.22 8% 19.95 141.59 20.69 20.69 20.59 3% (41.9) 149.60 149.60 147.89 4% © 2024 NEXON Co., Ltd. All Rights Reserved. 7#8Q4 2023 Revenue Breakdown Q4 2023 Financial Results (Unit: \mllions) Q4 2023 Revenue Breakdown Q4 2023 As- Constant As- Q4 2022 Reported Currency4 Reported YoY % Change Constant Currency⭑ 7% 10% Revenue by Region' Korea ¥50,951 ¥52,462 ¥48,734 3% (4%) 3% China 17,692 15,133 14,420 (14%) (18%) Region¹ Japan 2,788 2,879 2,770 3% (1%) 18% North America and Europe 4,588 8,162 7,702 78% 68% 62% Rest of World² 5,076 5,941 5,540 17% 9% Nexon Total 81,095 84,577 79,166 4% (2%) Revenue by Platform PC³ 54,152 59,804 56,087 10% 4% Mobile 26,943 24,773 23,079 (8%) (14%) Region¹ Korea 62% Nexon Total 81,095 China 18% 84,577 79,166 4% (2%) Japan 3% FX Rate 100 KRW/JPY CNY/JPY USD/JPY 10.42 19.95 11.22 20.59 10.42 141.59 147.89 19.95 141.59 1 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities. 2 "Rest of World" includes other Asian countries as well as Central and South American countries. 3 PC revenues include other revenues besides PC online games and mobile games. 8% 3% 8 29 30 4% North America & Europe 10% ●Rest of World² 7% 4 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 29% Platform Platform PC3 71% Mobile 29% 71% © 2024 NEXON Co., Ltd. All Rights Reserved. 8#9Q4 2023 Korea / China - Highlights Korea Below outlook due to lower-than-expected performances of MapleStory and FC ONLINE¹ PC2 revenues up 22% Y/Y MapleStory: Grew 54% Y/Y while it was lower than expected. A promotional video made by a production company in Korea created a controversy, which led to negative consumer reactions. While addressing player concerns, we suspended marketing and throttled back on monetization FC ONLINE¹: Below outlook as the content update offered in Q4 did not resonate with players to the degree we had expected. Decreased Y/Y due to a tough comparison with last year's Q4 when the World Cup was held Mobile revenues decreased 29% Y/Y; decreased 31% Q/Q Continued growth from FC MOBILE³ and Blue Archive as well as a contribution from Wars of Prasia were more than offset by revenue decreases from HIT2 and Dungeon&Fighter Mobile China Below outlook and down Y/Y due to Dungeon&Fighter Dungeon&Fighter: - Down Y/Y; below outlook The game was trending as expected until late December when we experienced an unexpected imbalance in the in-game economy, which resulted in lower- than-expected revenue Y/Y MAUS, paying users and ARPPU decreased. MAUS dropped modestly relative to paying users and ARPPU Q/Q MAUS, paying users and ARPPU decreased due to seasonality MapleStory. The Legends of Maple 4: Decreased Q/Q (Unit: \ millions) YOY% change: As Reported: +3% Constant Currency 5: -4% 75,855 64,942 62,071 50,951 52,462 56,202 43,365 42,124 31,740 38,832 PC² 19,211 21,577 19,947 19,653 13,630 Mobile Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 4 Official title of MapleStory M in China. 43,080 YOY% change: As Reported: Constant Currency 5: -14% -18% 24,044 17,692 18,231 42,935 17,567 125 145 18,073 158 20,943 3,101 15,133 12,396 PC² 2,737 Mobile Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 1 Official title is EA SPORTS FCM ONLINE (PC) and EA SPORTS FC™ ONLINE M (mobile). 2 PC revenues include other revenues besides PC online games and mobile games. 3 Official title is EA SPORTS FCT MOBILE. 5 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. © 2024 NEXON Co., Ltd. All Rights Reserved. 9#10Q4 2023 Japan/North America and Europe/ Rest of World - Highlights Japan Results as planned Growth in MapleStory and Blue Archive as well as a contribution from DAVE THE DIVER were offset by decreases from older mobile titles North America and Europe Lower than expected due to deferred revenues from THE FINALS While bookings from THE FINALS were well above our expectations, deferred revenue was also higher than expected • Benefited from THE FINALS and DAVE THE DIVER MapleStory and MapleStory M grew Y/Y • (Unit: \ millions) YOY% change: YoY% change: As Reported: +3% As Reported: +78% Constant Currency²: -1% Constant Currency²: +68% Rest of World' Results as planned A contribution from HIT2 and growth in Blue Archive were partially offset by decreases in MapleStory and other mobile titles YOY% change: As Reported: Constant Currency²: +17% +9% 8,925 8,162 8,300 7,300 3,485 6,360 5,156 5,461 5,941 4,588 4,601 PC³ 5,076 4,239 3,609 3,804 2,788 3,132 1,706 2,571 2,879 1,962 2,608 PC3 1,004 2,313 1,788 2,139 918 1,095 866 1,367 PC³ 5,440 1,870 2,605 1,447 2,037 2,800 3,194 3,755 3,561 Mobile 1,512 Mobile 2,937 3,496 3,789 4,061 3,333 Mobile Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 1 "Rest of World" includes other Asian countries as well as Central and South American countries. 2 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 3 PC revenues include other revenues besides PC online games and mobile games. © 2024 NEXON Co., Ltd. All Rights Reserved. 10#11FY 2023 Results#12• FY 2023 Financial Results Record-breaking Revenues and Operating Income Driven by Strong Growth in Major Franchises and Successful Launch of New Games Revenues • PC¹ revenues grew 25% Y/Y MapleStory achieved record full-year revenue in its 20th year FC ONLINE² marked record full-year revenues for the fifth year in a row China Dungeon&Fighter achieved solid growth Mobile revenues grew 9% Y/Y; significant growth in FC MOBILE³ and Blue Archive Strong contributions from Wars of Prasia, DAVE THE DIVER, MapleStory. The Legends of Maple in China and THE FINALS (Unit: \ billions) 423.4 Operating Income • . Increased Y/Y driven by revenue increases Operating income margin went up from 29% last year to 32%, driven by strong top-line growth HR costs increased Y/Y as we made further investments in new talent for both new and live games, as well as performance-based bonuses for the strong 2023 Net Income Decreased Y/Y primarily due to Decreased FX gain; recording a gain of ¥10.4 billion in 2023 vs. ¥41.7 billion in 2022 Impairment loss of ¥44.4 billion on the AGBO investment Increased tax expense; recording an expense of ¥54.8 billion in 2023 vs. ¥40.5 billion in 2022 353.7 134.7 103.7 100.3 70.6 2022 As reported: Constant currency: 2023 +20% +14% 1 PC revenues include other revenues besides PC online games and mobile games 2 Official title is EA SPORTS FC™ ONLINE (PC) and EA SPORTS FC™ ONLINE M (mobile). 3 Official title is EA SPORTS FC MOBILE. 4 Official title of MapleStory M in China. 2022 As reported: Constant currency7: 2023 +30% +25% 5 HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A). 6 Net income refers to net income attributable to owners of the parent. 2022 As reported: Constant currency: 7 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 2023 -30% -32% © 2024 NEXON Co., Ltd. All Rights Reserved. 12#13FY 2023 Financial Results FY2023 Revenue Breakdown (Unit: \mllions) 2023 Constant YoY % Change Constant 2022 As-Reported As-Reported Currency5 Currency5 7% Revenue by Region' Korea ¥212,900 ¥255,330 ¥241,170 20% 13% 6% 3% China 86,391 100,488 97,406 16% 13% Japan 10,523 11,933 11,519 13% 9% Region¹ North America and Europe 20,051 27,704 26,039 38% 30% 24% 60% Rest of World² 23,849 27,901 26,358 17% 11% Nexon Total 353,714 423,356 402,492 20% 14% Revenue by Platform PC3 243,912 304,178 289,919 25% 19% Region¹ Mobile 109,802 119,178 112,573 9% 3% • Korea 60% Nexon Total 353,714 423,356 402,492 20% 14% ⚫ China 24% ⚫ Japan 3% Operating income 103,696 134,745 Net income4 100,339 70,609 129,293 68,143 30% 25% (30%) (32%) North America & Europe 6% Rest of World² 7% Earnings per share 114.74 82.89 1 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities. 2 "Rest of World" includes other Asian countries as well as Central and South American countries. 3 PC revenues include other revenues besides PC online games and mobile games. 4 Net income refers to net income attributable to owners of the parent. 5 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 28% Platform Platform PC3 72% Mobile 28% 72% © 2024 NEXON Co., Ltd. All Rights Reserved. 13#14Q1 2024 Outlook#15. • Q1 2024 Financial Outlook Expect a Y/Y revenue decline in our major franchises • Revenues Constant currency' down 27% to 19% Expect Y/Y decreases in China Dungeon&Fighter, FC ONLINE2, and Korea MapleStory Despite the anticipated Y/Y decrease, Q1 2024 is expected to be the second-highest Q1 revenue in Nexon history (Unit: \ millions, except per share data) Operating Income Expect a Y/Y decrease primarily due to revenue decrease Expect increases in HR costs³, cloud service costs, outsourcing costs as well as one-time losses • Net Income4 Expect a Y/Y decrease primarily due to operating income decrease In Q1 2023, we recorded a ¥5.6 billion FX gain primarily on U.S. dollar-denominated cash deposits and ¥2.9 billion gain on valuation of securities (Unit: \ billions) Q1 2024 (High-end) Revenues PC5 Q1 2023 ¥124,087 93,070 Q1 2024 Outlook YoY % ¥97,122 71,956 2 ¥107,112 79,146 (23%) (22%) 2 (14%) Revenues Operating Income Net Income4 (15%) Mobile 31,017 25,166 27,966 (19%) ~ (10%) 124.1 Operating income 56,275 15,158 23,360 (73%) ~ (58%) 107.1 Net income4 52,791 16,354 22,919 (69%) 2 (57%) Earnings per share 61.63 19.47 27.29 FX Rate Assumptions 100 KRW/JPY CNY/JPY USD/JPY 10.41 11.06 11.06 19.34 20.49 132.34 147.06 20.49 147.06 11% do do dlo 6% 6% 56.3 52.8 23.4 22.9 Forex sensitivity: Every one Japanese yen move against the U.S. dollar would have the following impact on our financials for Q1 2024 Revenues Operating Income 0.69 billion yen 0.19 billion yen 1 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 2 Official title is EA SPORTS FC™ ONLINE (PC) and EA SPORTS FCM ONLINE M (mobile). 2023 2024 3 HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A). 4. Net income refers to net income attributable to owners of the parent. 2023 2024 2023 2024 5 PC revenues include other revenues besides PC online games and mobile games. 6 In most situations, the exchange rates of both the South Korean Won and the Chinese Yuan are linked to the U.S. Dollar. For simplicity, forex sensitivity is calculated based on the assumption that Korean Won and Chinese Yuan move similarly against Japanese Yen when there is an exchange rate movement in U.S. Dollar and Japanese Yen. © 2024 NEXON Co., Ltd. All Rights Reserved. 15#16• • Q1 2024 Korea/China Outlook Korea Expect revenues to decrease Y/Y due to FC ONLINE¹, MapleStory, and mobile titles PC2: Expect to decrease Y/Y Expect FC ONLINE¹ to decrease due to the tough comparison with Q1 2023 when enduring excitement from the World Cup contributed to record- setting quarterly revenue Expect MapleStory to decrease as we expect short-term negative impact on revenue due to our decision of discontinuing the sales of a major probability-based item and transitioning to a business model that offers the same experience, paid for with in-game currency rather than cash Mobile: Expect to decrease Y/Y due to FC ONLINE M' and HIT2 • China Expect revenues to decrease due to Dungeon&Fighter Dungeon&Fighter The imbalance issues that affected the game's economy in late December carried over into Q1; as a result, packaged-item sales from the Lunar New Year update (1/11-) have not performed as expected Throughout 2024, we will not only double the amount of new content introduced in 2023, but also accelerate the update process; this includes the renewal of existing characters, the introduction of new characters, renovation of the existing item system, collaboration with popular IPs, plus more raids, and other high-end content to stimulate player engagement and balance the in-game economy MapleStory: The Legends of Maple Expect to maintain its momentum and contribute to Q1 (Unit: \ millions) Q1 2023 Q1 2024 Outlook Actual Low-end High-end 64,942 51,041 55,002 YoY % Change As-Reported Constant Currency³ (21%) (15%) (26%) - (20%) 64,942 55,002 Q1 2023 1 Official title is EA SPORTS FCT ONLINE (PC) and EA SPORTS FCT ONLINE M (mobile). 2 PC revenues include other revenues besides PC online games and mobile games. 2024 Q1 2023 Q1 2024 Outlook Actual Low-end High-end 43,080 25,642 29,780 YoY % Change Constant As-Reported Currency³ (40%) (31%) (44%) - (35%) 43,080 29,780 Q1 2023 2024 (High-end) (High-end) 3 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. 4 Official title of MapleStory M in China. © 2024 NEXON Co., Ltd. All Rights Reserved. 16#17Q1 2024 Japan / North America and Europe/ Rest of World' Outlook Japan Expect revenues to decrease Y/Y • Expect a Y/Y increase in MapleStory • Expect Y/Y decreases in Blue Archive and • • North America and Europe Expect revenues to increase significantly Y/Y Expect a steady contribution from THE FINALS Expect a Y/Y increase in MapleStory Rest of World' Expect revenues to increase Y/Y Expect to benefit from HIT2 and THE FINALS terminated mobile titles (Unit: \ millions) Q1 2023 Q1 2024 Outlook YoY % Change Q1 2023 Q1 2024 Outlook YoY % Change Q1 2023 Q1 2024 Outlook Actual Low-end High-end As-Reported Constant Currency² Constant Actual Low-end High-end As-Reported Actual Low-end High-end As-Reported Currency² 3,609 2,976 3,323 (18%) - (8%) (20%) - (11%) 5,156 9,985 10,899 94% - 111% 77% - 93% 7,300 7,478 8,108 2% - 11% YoY % Change Constant Currency² (4%) - 4% 3,609 Q1 3,323 10,899 7,300 8,108 Q1 5,156 2023 2024 2023 2024 (High-end) (High-end) 2023 2024 (High-end) 1 Rest of World" includes other Asian countries as well as Central and South American countries. 2 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter. © 2024 NEXON Co., Ltd. All Rights Reserved. 17#18Q1 2024 Operating Income & Cost Outlook (Unit: \ billions) 56.3 17.0 Y/Y Operating Income Comparison (High-end) 4.5 0.5 7.8 6.4 30.1 6.7 Decreased revenues Decreased variable costs Slightly decreased marketing costs Increased HR costs' primarily related to headcount increase for new game development Others include: • Increased cloud service costs Operating Income Revenue decrease 2023 Q1 Variable Costs Marketing Costs HR Costs Others Adjusted Operating One-time costs Income 1 HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A). 23.4 • Increased outsourcing fees Operating Income 2024 Q1 (High-end) One-time costs related to the reorganization of some of our group companies © 2024 NEXON Co., Ltd. All Rights Reserved. 18#19Shareholder Return Buy-back We completed the 100-billion yen share repurchase policy that we announced on August 9th, 2022 in January 2024; we accelerated the program and completed it in less than 1.5 years The Board of Directors approved a new share repurchase policy to buy back up to 100 billion yen over the next three years Conduct the share repurchase by February 2027 by considering several factors including investment opportunities, financial and market conditions ¥100 Bn ¥100 Bn In one year and eight months In one year and six months Completed earlier than planned Completed earlier than planned New Three-year ¥100 Bn Buyback policy Plan to complete ¥100Bn by February 2027 at the latest 2020 2021 2022 2023 2024 2025 2026 2027 © 2024 NEXON Co., Ltd. All Rights Reserved. 19#202024 Content Update Schedule TITLE 2024 Q1 ⚫Lunar New Year Update (January 11th) China Dungeon&Fighter Character Renewal (February, March) *Renovation of the Existing Items (March) Korea MapleStory •The 6th job change - Mastery Core (January 18th) Epic Dungeon: High Mountain (February 22nd) 2024 Q2 *Labor Day Update (April) .Collaboration with Popular IP (April) Anniversary Update (June) *The 21st Anniversary Update (April) FC ONLINE ■TOTY - "Team of the Year" (January 20th) *TOTS - "Team of the Season" (TBD) THE FINALS ⚫Season 2 Release (March) .TBU 1 Official title is EA SPORTS FCT ONLINE (PC) and EA SPORTS FC™ ONLINE M (mobile). * The 2024 update schedule is subject to change depending on various operational factors © 2024 NEXON Co., Ltd. All Rights Reserved. 20 20#21Pipeline¹ Dungeon&Fighter Mobile² MABINOGI MOBILE2 HIT The World HIT The World UNGED GHER MOBIL UNDERS Wakerunners THE FIRST DESCENDANT The First Descendant MapleStory Worlds 2,3 maplestory WORLDS THE FIRST BERSERKER KHAZAN KOKOREA CHINA JAPAN PC ONLINE ARC Raiders ARC Raiders MOBILE CONSOLE NORTH AMERICA & REST OF THE WORLD embark MapleStory n The First Berserker. Khazan2,6 MapleStory N2,4 NAKWON LAST PARADISE NAKWON: LAST PARADISE OVERKILL 2,5,7 OVERKILL ☐ 1 Chart is illustrative excerpt of pipeline. 2 Games based on original IP. 3 MapleStory Worlds is a content making platform in which users can use MapleStory assets to create their own game and share it with other players. 4 MapleStory N is a PC based MMORPG that combines blockchain technology. with MapleStory IP. 5 Tentative title. 6 PC 3D action RPG based on Dungeon&Fighter universe. 7 PC 3D side-scrolling action RPG based on Dungeon&Fighter universe. 8 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders. © 2024 NEXON Co., Ltd. All Rights Reserved. 21#22Appendix OK#23Financials#24Starting from this quarter, both PC and console KPIs from cross-platform games are included. Summary of Results and Key Operational Metrics (Unit: millions, except per share data) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 YoY% (By Region) Korea ¥47,880 ¥51,248 ¥62,821 ¥50,951 ¥64,942 ¥62,071 ¥75,855 ¥52,462 3% China 29,761 19,238 19,700 17,692 43,080 18,231 24,044 15,133 (14%) Japan 2,794 2,149 2,792 2,788 3,609 2,313 3,132 2,879 3% North America and Europe 4,699 5,738 5,026 4,588 5,156 5,461 8,925 8,162 78% Rest of World' 5,900 5,749 7,124 5,076 7,300 6,360 8,300 5,941 17% (By Platform) PC2 Mobile 67,730 55,578 66,452 54,152 93,070 65,340 85,964 59,804 10% 23,304 28,544 31,011 26,943 31,017 29,096 34,292 24,773 (8%) Revenue 91,034 84,122 97,463 81,095 124,087 94,436 120,256 84,577 4% Operating income 38,520 22,684 31,524 10,968 56,275 27,614 46,310 Net income (loss) 34 40,261 26,472 41,197 (7,591) 52,791 24,538 35,167 4,546 (41,887) (59%) NA Earnings per share 45.35 30.11 47.63 (8.79) 61.63 28.80 41.28 (49.47) FX rate 100 KRW/JPY CNY/JPY USD/JPY PC and Console KPI MAU (millions) Pay Rate ARPPU (as-reported) 9.65 10.29 10.34 10.42 10.41 10.46 11.02 11.22 8% 18.30 19.61 20.21 19.95 19.34 19.56 19.97 20.59 3% 116.20 129.57 138.37 141.59 132.34 137.37 144.62 147.89 4% 13.4 22.5% 13.7 22.7% 14.1 21.0% 14.3 15.5 14.3 14.1 17.4 22% 20.6% 22.5% 22.5% 23.7% 18.2% 12,606 9,108 11,040 8,929 15,074 9,553 11,230 8,104 (9%) 1 "Rest of World" includes other Asian countries as well as Central and South American countries. 2 PC revenues include other revenues besides PC online games and mobile games. 3 Net income (loss) refers to net income (loss) attributable to owners of the parent. 4 As a result of finalizing the provisional accounting treatment for a certain investment where the equity method is applied, "Equity loss of affiliates, equity method companies" decreased by 1.8 billion yen in Q2 2022, increased by 2.1 billion yen in Q3 2022, and decreased by 0.3 billion yen in Q4 2022. Consequently, "Net income (loss)" increased by 1.8 billion yen in Q2 2022, decreased by 2.1 billion yen in Q3 2022, and increased by 0.3 billion yen in Q4 2022. There is no financial impact on the annual performance of 2022. © 2024 NEXON Co., Ltd. All Rights Reserved. 24#25COGS and SG&A¹ (Unit: \ millions) Total Cost of Revenue' Royalty 2 3 HR cost (COGS) ³ Other (COGS) 4 FY2022 FY2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ¥21,924 ¥24,966 ¥28,131 ¥30,757 ¥34,233 ¥32,804 ¥35,908 ¥34,993 9,013 9,142 11,186 10,679 14,529 11,206 11,378 8,768 8,671 10,960 11,451 13,958 13,861 14,857 17,681 19,504 4,240 4,864 5,494 6,120 5,843 6,741 6,849 6,721 Total SG&A' HR cost 30,475 34,322 36,528 37,972 32,883 34,283 37,720 42,854 7,423 7,835 8,297 9,501 5,690 7,274 7,690 8,765 5 PG fee 8,480 10,909 11,201 9,507 10,448 9,828 11,625 9,084 R&D 5,790 6,637 6,449 7,054 5,944 5,666 6,093 6,916 Marketing/advertising expenses 4,856 5,564 6,734 8,563 6,709 7,219 7,669 11,380 Depreciation and amortization 1,065 934 996 752 795 907 910 1,696 Other 2,861 2,443 2,851 2,595 3,297 3,389 3,733 5,013 Other Income 6 Other Expense 7 Includes: impairment loss 160 136 122 157 344 583 293 513 275 2,286 241 2,219 1,402 1,389 1,555 1,040 318 611 2,697 1,489 1,026 287 353 1,374 1 Breakdown of COGS and SG&A are unaudited. 2 Royalty includes royalties paid to third-party developers in order for us to obtain the right to publish their games. 3 HR cost includes salaries, bonuses and benefits for our live game developers, who support post launch servicing, updating and support for our games. 4 Other (COGS) primarily consists of depreciation and amortization of assets related to existing games, connection fees (mainly comprised of co-location and datacenter fees, internet bandwidth and access fees), and the costs of purchasing and maintaining our servers and computer equipment. 5 PG fee in SG&A includes commissions made to external payment gateway companies when users purchase in- game items in PC Online games that we service. It also includes mobile carrier-related commissions we pay regarding our Japanese mobile browser games, commissions we pay to Apple/Google regarding our mobile native games globally, commissions we pay to Steam regarding our PC online games globally and platform commission fees related to mobile browser games. 6 Other Income includes other non-operating income, reversal of deferred revenue, gain on sale of properties, gain on change in equity and gain on step acquisition. 7 Other Expense includes other non-operating expenses, loss on sale/disposal of properties, loss on impairment of tangible fixed assets, loss on impairment of intangible assets, loss on impairment of other fixed assets and loss on change in equity. It also includes impairment loss of game IPs and goodwill. © 2024 NEXON Co., Ltd. All Rights Reserved. 25#26P&L Below Operating Income (Unit: \ millions) FY2022 FY2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Operating Income ¥38,520 ¥22,684 ¥31,524 ¥10,968 ¥56,275 ¥27,614 ¥46,310 ¥4,546 1 Finance Income 23,308 31,844 30,312 5,590 14,075 16,763 13,204 7,108 Finance Costs 2 3,695 4,176 641 30,111 422 322 6,294 11,246 (Loss) reversal of loss on revaluation 3 339 (5,334) 487 (848) 2,719 463 (822) 3,893 Equity profit/(loss) of affiliates, equity (1,271) (1,555) (5,822) (1,598) (744) (1,691) 461 (1,536) method companie 4 Impairment loss of investments (44,425) accounted for using equity method Income/(loss) before Income Tax 4 57,201 43,463 55,860 (15,999) 71,903 42,827 52,859 (41,660) Tax expense 17,082 17,280 14,743 (8,570) 18,637 18,372 17,374 462 Non-controlling interests (142) (289) (80) 162 475 (83) 318 (235) Net income/(loss) 4,5 40,261 26,472 41,197 (7,591) 52,791 24,538 35,167 (41,887) 1 Finance Income includes interest income primarily on cash deposits. 2022 Q1, Q2, Q3 and 2023 Q1, Q2, Q3 Finance Income includes FX conversion gains related to foreign currency deposits and accounts receivable. 2 2022 and 2023 Q4 Finance Costs are primarily caused by FX conversion loss related to foreign currency deposits and accounts receivable. 3 Loss/reversal of loss on revaluation refers to loss/reversal of loss on revaluation of cryptocurrency. 4 As a result of finalizing the provisional accounting treatment for a certain investment where the equity method is applied, "Equity loss of affiliates, equity method companies" decreased by 1.8 billion yen in Q2 2022, increased by 2.1 billion yen in Q3 2022, and decreased by 0.3 billion yen in Q4 2022. Consequently, "Income/(loss) before Income Tax" and "Net income (loss)" each increased by 1.8 billion yen in Q2 2022, decreased by 2.1 billion yen in Q3 2022, and increased by 0.3 billion yen in Q4 2022. There is no financial impact on the annual performance of 2022. 5 Net income/(loss) refers to net income/(loss) attributable to owners of the parent. © 2024 NEXON Co., Ltd. All Rights Reserved. 26#27Cash Flow Statement (Unit: \ millions) 12 months ended December 31, 2022 12 months ended December 31, 2023 Cash flows from operating activities ¥130,144 ¥128,712 Cash flows from investing activities (10,918) (188,367) Cash flows from financing activities (105,859) (78,554) Net increase (decrease) in cash and cash equivalents 13,367 (138,209) Cash and cash equivalents at beginning of fiscal year 365,239 409,368 Effect of exchange rate change on cash and cash equivalents 30,762 9,356 Cash and cash equivalents at end of fiscal year 409,368 280,515 © 2024 NEXON Co., Ltd. All Rights Reserved. 27#28Balance Sheet (Unit: \ millions) December 31, 2022 December 31, 2023 December 31, 2022 December 31, 2023 Asset Current Assets Liability Current liabilities Cash and cash equivalents ¥409,368 ¥280,515 Current tax liabilities 23,697 17,932 Other deposits Other current assets 162,490 70,171 316,243 Current borrowings 92,748 Others 59,437 71,442 Total current assets 642,029 689,506 Total current liabilities 83,134 89,374 Noncurrent assets Noncurrent liabilities Tangible assets 26,885 28,854 Non-current borrowings Goodwill 40,136 43,924 Others 92,169 102,154 Intangible assets 9,655 17,847 Total noncurrent liabilities 92,169 102,154 Investments accounted for using equity method 83,595 58,120 Total liabilities 175,303 191,528 Other non-current financial assets 162,514 179,199 Others 78,035 80,653 Shareholders' equity Total noncurrent assets 400,820 408,597 Capital stock Total assets 1,042,849 1,098,103 Capital surplus Treasury shares Other equity interest Retained earnings Non-controlling interests Total equity Total liabilities and total equity 38,972 47,510 18,331 26,719 (16,464) (45,046) 114,012 159,857 703,342 707,227 9,353 867,546 10,308 906,575 1,042,849 1,098,103 © 2024 NEXON Co., Ltd. All Rights Reserved. 28#29P&L by Reporting Segment (Unit: \ millions) Japan FY2022 Q2 Q3 Q4 Q1 FY2023 Q2 Q3 Q4 Revenue from external customers ¥1,270 ¥1,017 ¥1,205 ¥1,210 ¥1,258 ¥1,072 ¥1,291 ¥1,347 Segment profit/(loss) (3,075) (2,757) (2,405) (2,406) (542) (1,610) (1,359) (1,042) Korea Revenue from external customers 85,375 79,085 91,501 75,257 117,877 89,590 114,093 76,222 Segment profit/(loss) 43,044 30,270 37,473 18,468 59,945 33,321 51,644 13,946 China Revenue from external customers 899 719 836 887 1,081 647 689 771 Segment profit/(loss) 506 288 364 398 633 190 217 260 North America Revenue from external customers 3,077 3,023 3,535 3,450 3,432 2,948 3,851 4,715 Segment profit/(loss) (615) (1,561) (1,515) (2,526) (1,554) (2,713) (1,795) (2,301) Others Revenue from external customers 413 278 386 291 439 179 332 1,522 Segment profit/(loss) (1,224) (1,401) (1,125) (1,561) (1,509) (1,950) (2,149) (4,188) Adjustments Revenue from external customers ° 0 Segment profit/(loss) (5) 12 111 70 70 55 Total Revenue from external customers 91,034 84,122 97,463 81,095 124,087 94,436 120,256 84,577 Segment profit/(loss) 38,635 24,834 32,804 12,366 56,971 27,349 46,628 6,730 1 Representation based on location of Nexon's entities; not based on regions where the revenue originates. © 2024 NEXON Co., Ltd. All Rights Reserved. 29#30NJ Corporate Entity Financial Statement (1) (Unit: \ millions) Income Statement FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Revenue Cost of revenue Gross profit SG&A ¥5,208 ¥5,927 ¥7,024 ¥6,016 ¥5,411 ¥5,898 ¥5,872 3,134 3,438 3,510 3,249 2,681 3,040 3,092 2,074 2,489 3,514 2,767 2,730 2,858 2,780 6,736 6,941 9,447 7,910 7,893 11,269 13,158 Operating profit / (loss) (4,662) (4,452) (5,933) (5,143) (5,163) (8,411) (10,378) Non-operating income 636 5,049 15,646 32,565 47,902 94,274 87,912 Includes: dividend income 22 4,612 15,025 30,313 46,460 87,397 76,891 Non-operating expenses 1,826 1,969 9,352 4,063 2,802 1,700 4,747 Ordinary income/(loss) (5,852) (1,372) 361 23,359 39,937 84,163 72,787 Extraordinary income 852 58 109 635 189 1,007 8,417 Extraordinary losses 39,573 9,643 138 77 647 78 1,123 Income (loss) before income taxes (44,573) (10,957) 332 23,917 39,479 85,092 80,081 Tax expense (201) 234 755 1,520 2,327 Net income/(loss) (44,372) (11,191) (423) 22,397 37,152 6,425 78,667 6,600 73,481 1 Excerpt of NEXON Co., Ltd.'s standalone financial statements included in Annual Securities Report (Yuuka Shouken Houkokusho). Annual Securities Report for FY2023 will be released in late March 2024. Please note NEXON Co., Ltd.'s standalone financial statements are based on J-GAAP (Nexon Group's consolidated financial statements are based on IFRS). © 2024 NEXON Co., Ltd. All Rights Reserved. 30#31NJ Corporate Entity Financial Statement (2) (Unit: \ millions) Balance Sheet Current assets Includes: cash and cash equivalents Non-current assets December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 ¥52,632 ¥42,946 ¥55,209 49,531 6,438 41,868 5,494 53,096 4,836 ¥45,374 43,100 17,630 ¥85,462 83,523 17,851 ¥144,774 143,334 44,903 ¥135,225 131,959 35,848 74 7 3 1 6 5 1 Property, plant and equipment Intangeble assets Investments and other assets 6,364 5,487 4,833 17,629 17,845 44,898 35,847 Total assets 59,070 48,440 60,045 63,004 103,313 189,677 171,073 Current liabilities Non-current liabilities Total liabilities 2,341 1,796 2,303 2,037 2,085 4,376 4,523 448 457 415 363 469 468 2,789 2,253 2,718 2,400 2,554 4,844 640 5,163 Shareholder's equity 50,669 41,230 50,838 53,133 92,510 174,099 149,456 Capital stock 3,307 9,183 14,199 17,757 22,470 34,167 38,881 Capital surplus 88,621 43,021 36,846 39,981 21,720 33,417 38,131 Includes: other capital surplus 86,064 34,588 23,397 22,974 Retained earnings (41,259) (10,974) (206) 22,614 48,320 122,547 87,243 Includes: other retained earnings (41,476) (11,191) (423) 22,397 48,103 122,330 87,026 Treasury shares (0) (0) (27,219) (16,032) (14,799) Valuation and translation adjustments 77 (10) (21) (28) (21) (15) 460 Subscription rights to shares 5,535 4,967 6,510 7,499 8,270 Total net assets 56,281 46,187 57,327 60,604 100,759 10,749 184,833 15,994 165,910 Statement of changes in equity (excerpt) FY2016 FY 2017 Payment of dividends Acquisition of treasury shares (4,352) (5,000) (10,000) Cancellation of treasury shares 5,000 10,000 1 Excerpt of NEXON Co., Ltd.'s standalone financial statements included in Annual Securities Report (Yuuka Shouken Houkokusho). Annual Securities Report for FY2023 will be released in late March 2024. Please note NEXON Co., Ltd.'s standalone financial statements are based on J-GAAP (Nexon Group's consolidated financial statements are based on IFRS). FY2018 FY2019 (27,218) FY2020 FY2021 FY2022 (4,418) (2,783) 30,002 (4,440) (16,032) (8,785) (98,767) 100,000 © 2024 NEXON Co., Ltd. All Rights Reserved. 31#32Number of Employees by Reporting Segment March 31 June 30 Full-time employees 2022 2022 September 30 2022 December 31 2022 March 31 2023 June 30 2023 September 30 2023 December 31 2023 Japan 269 274 271 266 270 268 255 266 Korea China 5,555 5,750 5,991 6,044 6,216 6,397 6,570 6,675 202 203 195 194 191 192 190 190 North America 357 383 11 411 423 435 441 446 440 425 457 497 540 576 624 646 660 Total 6,808 7,067 7,365 7,467 7,688 7,922 8,107 8,231 Others © 2024 NEXON Co., Ltd. All Rights Reserved. 32 32#33Historical Financials (Unit: billions) Revenue by Region¹ North America Rest of World2 and Europe 6% 7% Korea China Japan North America and Europe Rest of World2 423.4 27.9 353.7 Japan 3% 27.7 11.9 293.0 23.8 274.5 20.1 253.7 234.9 248.5 10.5 100.5 16.5 9.8 11.4 13.2 10.4 16.9 86.4 190.3 172.9 183.1 12.1 21.5 19.5 10.5 155.3 2.7 108.4 4.1 8.0 4.4 12.5 14.1 13.9 81.2 6.4 73.6 China 24% FY2023 Revenue by Region¹ Korea 7.9 29.9 21.0 11.4 16.9 60% 115.4 133.0 112.2 255.3 4.4 36.4 75.4 74.2 212.9 67.0 7.8 19.2 165.0 63.9 154.7 48.4 65.4 77.0 74.2 80.5 89.8 73.8 28.7 43.0 4 4 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 423.4 Revenue by Platform PC3 Mobile 353.7 119.2 293.0 Mobile 28% 274.5 109.8 253.7 248.5 234.9 97.1 78.1 FY2023 Revenue by 190.3 172.9 183.1 54.9 60.6 Platform 51.4 155.3 42.0 34.2 43.3 304.2 108.4 28.4 243.9 8.2 198.9 183.5 188.0 195.9 196.4 127.0 138.7 148.3 139.8 100.2 4 4 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 1 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities. 2 "Rest of World" includes other Asian countries as well as Central and South American countries. 3 PC revenues include other revenues besides PC online games and mobile games. 4 FY16 and FY19 grew Y/Y on a constant currency basis. PC3 72% © 2024 NEXON Co., Ltd. All Rights Reserved. 33#34Key Titles by Region¹ Korea MapleStory AIA FC ONLINE FC ONLINE 0 EA SPORTS FCTM ONLINE M FC MOBILE AIA EA SPORTS FCTM ONLINE ☐ ☐ Wars of Prasia Dungeon&Fighter O China Japan N. America and Europe ☐ Dungeon&Fighter · PC3 MOBILE CONSOLE Rest of World² Blue Archive THE FINALS MapleStory EA SPORTS FCTM MOBILE MapleStory. The Legends of Maple4 MapleStory ☐ The Kingdom of the Winds: Yeon MapleStory ☐ FC MOBILE EA SPORTS FCTM MOBILE MapleStory THE DIVER 7% 10% Korea 62% Blue Archive 3% ⚫ China 18% ☐ 18% FY2023 Q4 Region¹ Japan 3% 62% North America & Europe 10% ●Rest of World² 7% Sudden Attack MapleStory M PC3 MOBILE 1 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities. 2 "Rest of World" includes other Asian countries as well as Central and South American countries. 3 PC revenues include other revenues besides PC online games and mobile games. DAVE THE DIVER HIT2 e MapleStory M 29% FY2023 Q4 Platform PC3 71% Mobile 29% 71% 4 Official title of MapleStory M in China. 5 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 34#35NEXON IP#36DUNGEON &IGHER ୮ Dungeon&Fighter Franchise LTD Overview ELI Launched 2005 Over 850 million registered users worldwide Life-to-date gross revenue well over $22 billion USD Gross revenue several billion dollars more than life-to-date box office of Star Wars and Harry Potter series; more than double the revenue of the entire Avengers series¹ Constantly evolving for 18 years with new characters, skills and communities Mobile version launched in Korea on March 24, 2022. Awarded Game of the Year from the Korean Association of Game Industry in 2022 Easy-to-learn, hard-to-master accessibility, action-packed gameplay and iconic, pixelated art make Dungeon&Fighter one of the world's most popular and enduring game franchises 1 Life-to-date global box office revenues as of February 7th, 2024 sourced from BoxOfficeMojo.com 2 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 36#37MapleStory D Revenue MapleStory Franchise LTD Overview 2003 E ▸ Launched 2003 Over 190 million registered users worldwide. In Korea, player registration equals to 45% of the population Life-to-date franchise revenue over $5 billion USD Il Combined PC and mobile revenue exceeds global box office of the movie franchise Frozen - one of Disney's biggest¹ An easy-to-learn, hard-to-master MMORPG with cross-cultural appeal that has been growing players and revenue over 20 years. Players love personalizing their characters Korea MapleStory Revenue Korea MapleStory M 1 Life-to-date global box office revenues as of February 7th, 2024 sourced from BoxOffice Mojo.com Year 2023 2016 2023 Year 2 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 37#38CRAZYRACING KARTRIDER KARTRIDE TM 1708 KartRider Franchise LTD Overview Launched 2004 Registered users over 380 million PC platform alone Over half of all Korean population; over 45% of Taiwanese population has played the game Combined PC and mobile Life-to-date gross revenue over $1.0 billion A fast-paced online casual racing game with easy-to-learn, hard-to-master UI, and a universe of compelling characters which can be stylized to the player's taste KartRider. Drift started its service in Q1 2023 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders ୮ © 2024 NEXON Co., Ltd. All Rights Reserved. 38#39SV SUDDEN ATTACK S.A Sudden Attack LTD Overview $ ☑ Launched 2005 Registered users over 23 million Life-to-date revenue over $0.8 billion Highly accessible online First-Person Shooter with fast, visceral action 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 39#40바람나라 年 The Kingdom of the Winds Franchise LTD Overview 5139 A Launched 1996 Registered users over 26 million World's longest-running graphic MMORPG. Over 27 year service period Mobile version launched on July 15, 2020. Highest ranking #1 on iOS and #2 on AOS A popular and enduring MMORPG based on historical comic about the Goguryeo Dynasty 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 40 凸#41fantasy LIFE Mabinogi Mabinogi LTD Overview Launched 2004 Registered users over 20 million $ Life-to-date revenue over $0.7 billion MMORPG with life-oriented content and contemporary music, fashion, and cooking. Highly differentiated from existing battle- focused games that saturate the market 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders © 2024 NEXON Co., Ltd. All Rights Reserved. 41#42NEXON'S Business#43Global Leader in Virtual Worlds Players Tastes Evolving to Deeply Immersive Online Virtual Worlds Single-player/ Offline Single player High-launch cost Launch momentum FINAL FANTASY.XVI CIVILIZATION VI ✓ Casual single player Short-time play ✓ User acquisition METAL GEAR SIMCITYA DELUXE EDITION Candu Crush Gardenscapes ROYAL MATCH! MASTER 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders. Immersive CALL DUTY Light grand theft auto MapleStory 20 바람나라 KARTRIDER DRIFT FORTNITE PUZZLE DRAGONS CLASH ROYALE MONSTER STRIKE Multi-player Community focused Build over time Engaged for years ✓ Casual multiplayer ✓ Session play ✓ Constant Marketing Multi-player/ Online 2 The categorization of the games shown in this material is based on our own view. It may not necessarily reflect the common views in the market. 33 © 2024 NEXON Co., Ltd. All Rights Reserved. 43#44Nexon Focus III. A 1 FOCUS ON VIRTUAL WORLDS 2 PLATFORM EXPANSION 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders. www ww m THE FINALSA embark 3 LEVERAGE OUR OWN IP 4 822 INVEST IN NEW IP AND TECHNOLOGY © 2024 NEXON Co., Ltd. All Rights Reserved. 44#45Solid Foundation. Significant Upside Opportunities Big Growth Opportunities Layered on Top of Core Business REVENUE UNGEON FISHER MOBILE THE FIRST DESCENDANT IARC Raiders THE FIRS BERSERKER MABINOGI MOBILE KHAZAN CRAZYRACING MapleStory KARTRIDER UNGEON &IGHER SUDDEN ATTACK AIA EA SPORTS FC ONLINE 2024 1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders. New Games Solid Foundation THE FINALSA 바람의나라 Time © 2024 NEXON Co., Ltd. All Rights Reserved. 45#46Mental Model of Virtual Worlds Virtual Worlds Can Grow Over a Period of Years Despite the Near-term Ups and Downs REVENUE → TIME VIRTUAL WORLDS O TRADITIONAL GAMES © 2024 NEXON Co., Ltd. All Rights Reserved. 46#47Glossary of Terms Term/Abbreviation FPS (first person shooter) MMORPG (massively multiplayer online role playing game) MAU (monthly active user) ARPPU (average revenue per paying user) Pay Rate MCCU (maximum concurrent users) Closed Beta Test (CBT) Open Beta Test (OBT) Tier One Update Tier Two Update Meaning A game in which the player plays from the point of view of the game character in three-dimensional graphics An online role-playing game that has a "massive" number (usually several hundred or more) of players who play concurrently Monthly total number of users who logged in and played Nexon's PC online games. MAU in this presentation is the quarterly average of such numbers. Nexon's PC online games include game developed and serviced by Nexon group, games developed by Nexon group and serviced by non-Nexon group publishers, and game developed by non Nexon group acquired publishing rights. The amount obtained by dividing monthly PC online game gross revenues by the number of monthly paying users. ARPPU in this presentation is the quarterly average of such numbers. Gross revenues used in the calculation are in-game sales, and exclude other revenues included in PC revenues such as sales from PC café time charge. The percentage rate obtained by dividing the number of monthly paying users by the number of monthly active users. Pay rate in this presentation is calculated using the quarterly average of such numbers. The maximum number of users concurrently accessing a game at a particular moment. MCCU is generally used to measure the popularity of a game A trial version (beta version) of a game offered for a certain period of time to a limited number of users or groups. A Limited Beta Test is an even smaller-scale trial mode of a game with fewer numbers of users or group A trial version (beta version) of a game a certain period of time without restrictions on participation. OBT is usually conducted after CBT. Large scale update to existing PC games typically launched in Q1 or Q3 around peak season Smaller update to existing PC games released throughout the year © 2024 NEXON Co., Ltd. All Rights Reserved. 47#48Disclaimer This presentation is prepared to offer reference information about NEXON group to the investors and is intended to generally provide investors and analysts with financial and operational information about Nexon, but not to solicit or recommend any sale or purchase of stock or other securities of Nexon. NEXON Co., Ltd. ("Nexon") has not verified and would assume no responsibility for the accuracy, appropriation, or completeness thereof. This presentation does not contain all relevant information relating to Nexon or the sale of its shares, including, without limitation, the information that would be stated under the captions "Risk Factors", "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business" in an annual report. Any investment decision with respect to any shares of Nexon should be made solely upon the basis of the information contained in the disclosure documents and is qualified in its entirety by reference to the detailed information appearing in the disclosure documents. This presentation includes non-GAAP and non-IFRS financial measures, including but not limited to key performance indicators, as well as ratios calculated on the basis thereof. These non-GAAP and non-IFRS financial measures should not be considered in isolation or as a substitute for the most directly comparable financial measures included in our consolidated financial statements and presented in accordance with IFRS. This presentation includes forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipate", "assume", "believe", "estimate", "expect", "forecast", "may", "plan", "potential", "predict", "seek", "should", or "will", or by other similar terminology. These statements discuss expectations, identify strategies, contain projections of Nexon's financial condition or results of operations or state other forward-looking information. The forward-looking statements in this presentation are subject to various risks, uncertainties and assumptions about Nexon's business and results of operations. The expectations expressed in these forward-looking statements may not be achieved, and actual results could differ materially from and be worse than expectations. Potential risks and uncertainties that could cause actual results to differ materially from expectations include, without limitation: © 2024 NEXON Co., Ltd. All Rights Reserved. 48#49Disclaimer Continued growth and popularity of Nexon's key titles; Nexon's ability to maintain favorable relationships with key licensing partners; Nexon's continued ability to offer games in China, through local partners or otherwise; Nexon's ability to compete effectively in the online games industry; Nexon's ability to address hacking, viruses, security breaches and other technical challenges; Fluctuations in currency exchange rates; Nexon's ability to maintain and further develop its brand name; Effective acquisition of new companies, businesses, technologies and games from third parties and the possibility of recognizing impairment losses; Continued growth of the online games market, including the underlying infrastructure, and free-to-play/item-based revenue generation model; Nexon's ability to adapt to new technologies; Nexon's ability to enter into licensing arrangements for third-party titles on terms favorable to it; Effective defense of Nexon's intellectual property; and Legislative, regulatory, accounting and taxation changes in the countries in which Nexon operates. Nexon does not intend, and disclaims any duty, to update or revise any forward-looking statements contained in this presentation to reflect new information, future events or otherwise. We caution you not to place undue reliance on the forward-looking statements contained in this presentation. © 2024 NEXON Co., Ltd. All Rights Reserved. 49#50Q1 2024 Earnings Release Schedule Q1 2024 financial results are scheduled for release on Tuesday, May 14th, 2024. Nexon management is scheduled to host an earnings conference call for investors, analysts and the media on the same day. Details of the earnings conference call will be available on our IR website about a month prior to the release. © 2024 NEXON Co., Ltd. All Rights Reserved. 50#51NEXON