#1kakao 1Q 2022 | Kakao Investor Relations H Copyright Kakao Corp.#2Disclaimer Financial information contained in this document is based on consolidated K-IFRS that have not been reviewed by an independent auditor. Therefore, the information and financial data of Kakao and its subsidiaries (the "Company", or "Kakao") contained in this document are subject to change upon an independent auditor's audit. The Company does not make any representation or accept liability, as to the accuracy or completeness of the information contained in this material. The format and contents of this document are subject to change for future filings and reports. Kakao is not liable for providing future updates on all figures included in this document. Therefore, this presentation contained herein should not be utilized for any legal purposes in regards to investors' investment results. The Company hereby expressly disclaims any and all liability for any loss or damage resulting from the investors' reliance on the information contained herein. Copyright © Kakao Corp.#3Table of Contents Kakao Ecosystem 4 Kakao Business 8 Talk Biz - Ad 10 Talk Biz - Commerce 13 Mobility 15 Kakao Pay 16 Kakao Bank 17 Enterprise 18 Blockchain 19 Kakao Games 20 Music 21 Story 22 Media 23 Financial Overview 24#4Kakao Ecosystem Kakao Business Financial Overview#5Mission Making a Better World with People and Technology ↑#6History Innovative Service Launch TALK pay T பா. ピッ 57 B Klipdrops 2010 2010 2012 2012 2013 2014 2015 2016 2020 Kakao Kakao Kakao Kakao Kakao Kakao Kakao Kakao Kakao Bizboard Klaytn Talk Gift Game Friends Page Pay Taxi Piccoma Bank 2017 2019 2020 2020 Klip Drops Kakao Work Changes in Business Structure & Listing of Subsidiaries 2020.9 Kakao Games Listing Do-m KAKAO kakaopay kakaomobility m kakaoenterprise kakao ENTERTAINMENT 2021.8 Kakao Bank Listing Krust UNIVERSE 2021.11 Kakao Pay Listing 2006 Kakao Established 2014 2016 2017 Kakao LOEN Carve & Daum Acquisition Out 2018 Kakao & Kakao LOEN Merger Enterprise 2019.12 2021.3 Page & M 2021.8 2021.9 2021.9 Merger (I.W.I LAB) Merger Kakao M Established Kakao Entertainment Kakao Kakao Entertainment Krust & Commerce & Melon Merger Merger ΟΙ#7Kakao Ecosystem Kakao's Stake (%) / Transaction Valuation (KRW tn) 1) #1 Online Banking App 27.2%/24.5 B Contents #1 Financial Platform 47.1%/19.6 pay TechFin kakao Talk Biz #1 Mobility Platform 57.4% / 5.0+ The Blockchain T Disruptor Krust 100% UNIVERSE New Business Pioneer of Al Technology kakaobrain 100% All-in-One SaaS & PaaS 84.9%/3.2 kakaoenterprise 1) Kakao's Stake and Transaction Valuation as of 2022.3.31 Ad TALK Talk Commerce Powerful kakaogames Publisher & Developer 43.2%/6.1 kakao Unrivaled Content Company ENTERTAINMENT ピッ 57 73.6% (Page 1.2 + M 1.7) #1 Global Digital Manga App 91.1%/8.8 Investments kakaoinvestment AUM W304.9 bn, 76 investment portfolio 100% kakaoventures AUM W359.9 bn, 8 Funds 100% 7#8Kakao Ecosystem Kakao Business Financial Overview#9KakaoTalk Monthly Active Users Monthly Active Users in Korea Grew by +1.1M YOY, +396K QoQ TALK kakaotalk (in thousands) 47,431 45,508 45,793 45,981 46,356 46,623 46,809 47,035 45,188 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Korea Global 45,188 51,768 45,508 45,793 45,981 46,356 46,623 46,809 47,035 47,431 52,133 52,299 52,223 52,976 53,808 54,256 53,451 53,366 Average of monthly MAUS. Global includes domestic MAUS. 6#10Paradigm Shift in Advertising Industry Significant Growth Opportunity in KakaoTalk as a Biz Platform Domestic Ad Market Size (2021) ¹) (in KRW tn) Total Ad. Market 16.5 Digital Ad 9.3 Talk Biz Revenue (in KRW bn) Digital Penetration 56% 679 Kakao Ad 1.42) Digital Ad M/S 15% 1) Source KOBACO, 2021 Korea Advertising Expenditure Research (2021.12) 2) Kakao Ad includes Talk biz advertising and Portal Biz Revenue 1,149 +43% YoY 1,644 2019 2020 2021 2022(E) 10#11Talk Biz Advertising (Kakao Bizboard) New Innovative Way to Connect 47 million Mega Traffic Chat list tab is where users spend the most time. 오후 9:24 100% 채팅 a σ o ESTEE LAUDER X little FRIENDS 러브 립스틱 X 리틀프렌즈 에디션 ) 구매하기 립스틱 오거나이저 증정 Kakao X Users can get recommendations of their interests Users may fulfill any actions that wish to take ④ 이하나 주 오후 8:24 아침에 먹을 식빵 사기 Sync KakaoTalk ④ 뚜디, 하시우 3% 오후 6:01 Channel ΑΙ Chatbot 비밀 메시지 Purchase Reservation 디자인실 5 점심먹으러 가요 #DISCOVER Talk Gift #CONNECT Support Talk #ACTION Download 에뛰드하우스 ETUDE HOUSE 떠나자! 쇼핑 바캉스! Registration Talk Survey 드라마톡방 36 오후 1:20 Store Kakao Pay 이따 전화해보자 24 Checkout Customer Service Jo 김인정 생일축하해!!!! 오후 8:26 25 # 000 11#12Talk Biz Advertising (Message Ad) Virtuous Cycle with Bizboard, KakaoTalk Channel and Notification Talk The Virtuous Cycle Established with Bizboard Notification Talk Purchase, Booking Bizboard Talk Channel Friend Talk Channel Message Message Business Model 'KakaoTalk Channel' 'Notification Talk' Informs Message Ad Payment, Delivery Updates 67% 2:25 NOTE 67% 카카오톡 쇼핑하기 Q = 1544-5664 ▾ 2:26 ← 카카오쇼핑라이브 카카오커머스 고객센터 (https://ccs.kakao..... 4 Q = (광고) 카카오쇼핑라이브 LIVE 콜라보 맛집 스파오 파자마 ~50% 7%할인 5%적립 LIVE 카카오톡 쇼핑하기 --- 알림톡 도착 구매 결정 안내입니다. 성인&키즈 파자마 특집 짱구/디즈니 잠옷 외 [10:00] 꿀잠예약 3 잔망루피 여름 파자마 [11:30] 바디프랜드~56% 안마의자용 러그 증정! 상품은 잘 받아 보셨나요? 구매결정하시고 상품 리뷰를 남겨 주시면 이용자들과 판매자에게 큰 도움이 됩니다. ▶ 상품명 : 스파오 (잔망루피) 군싹 루피 잠옷_SPPPC25U09 •스토어명 : 스파오 문의하기 : 1670-9700 혹시라도 상품을 받지 못하셨거나 상품에 이상이 있는 경우 판매자에게 문의해 주세요. Ch [11:30] 피로 끝 안마의자 스타벅스 쿠폰까지! 자세히 알아보기 공유하기 수신거부 |홈 > 채널 차단 kakao 주문내역 확인 구매결정 하기 오전 8:19 12#13Talk Biz Commerce From Leveraging the Social Graph to any Talk-based Transactions kakaocommerce Key indices W2.3 tn 1Q Total GMV 32% YoY Talk Gift 22% YoY Talk Store W10 tn FY'22 GMV Target +32% YoY Delivery Gifts GMV +46% YoY Talk Store > Talk Deal Talk Store > Live Commerce Seeking Synergy btwn Talk Store & Talk Channel Talk Gift, Talk Store, Makers, ZigZag, Grip ZigZag 0 ・쇼핑하기 카카오쇼핑라이브 Q = zigzag 16 Q Search Zigzag 1544-2431▾ kakao 0 톡딜 MVP 맞춤추천 전체톡딜 카카오쇼핑 N Home Brand Beauty Best Sale 전체 식품 생활 디지털 뷰티·패션 LIVE Recommended Items for NEO sponsored 589 RYAN Talk Gift RYAN DIOR 디올 [각인/선물포장] NEW 립 글로우 선물을 보냈습니다. 지금 확인해 보세요! 배송지 입력하기 감동 표현하기 나도 선물하기 카카오톡 선물하기 오후 6 + 1) Key Indices as of 1Q22 마감 2일전 815명이 구매했어요 ESTALLCER 러브림스틱 + 립스틱홀더 30,400원 무료배송. 산지직송 부산 대저토마토 2.5kg 달콤짭짤 쫀득한 맛의 과육 톡딜가 15,900원 20,900원 1,775명이 구매했어요 MOTED Double We 면세점 아쉽지 않은 명품 브랜드 등장! 살아있는 구성, 놓치지 마세요 +1 방송 보러가기 공유하기 오후 7:42 에스티 로더 립스틱 구매 더블웨어구매 백투베이직스 누디몰 PRING BAG 프링... [여름속옷] 아이스.... Zpay Discount 69,00 5,900원 17% 57,600원 네츄럴플렉스 F21P008 포인티드.... 39% 41,800원 브랜드 브랜드 무료배송 13#14Kakao Talk's Strategic Direction From real-time communication service for 1% to interest driven interaction service for 99% AS IS TO BE Intentional Real-time Conversation Acquaintance Friends, Family 50M Domestic Unintentional Strangers Light Interaction Common Interest 5B Global 1. Kakao Talk - more light interaction 2. Open Chat - interest-oriented service 14#15Mobility Satisfying Every Customers Need with All-in-One Mobility Platform 1 Kakao T Key Indices 00 Taxi E 31 M Registered Users Largest # of users KakaoT Application 킥보드! c៤ Black Bike Driver P Quick Rent Car Flight My Car 00 coupang Bus Train Shuttle 쿠팡 Pet Carpool 1) Key Indices as of 1Q22 37 K T Blue Fleet +2,000 QoQ 38% YoY 1Q # of completed taxi rides Turn to Profit FY2021 Increase in demand & Supply of premium taxi Targets for continuous improvement Expansion of Premium Paying Service Option IC Gyeongma IC OGwacheon Call now and get an assigned Venti taxi! From Seongnam Venti 세스코 멤버스 Est. 26,700KRW Spacious and comfortable, Venti Blue 세스코 멤버스 00 Instantly assigned taxi, Blue Est. 23,500KRW Revolutionizing into a Service Meeting All Types of Mobility Demands kakaoT 카카오T RT Kakao T Blue 카카오T Deluxe Est. 35,300KRW Nearby Deluxe taxi Discount booking fee General Request Est. 22,500KRW Taxi around you Te Kakao T Venti 15#16Kakao Pay pay No.1 Comprehensive Daily Financial Platform Kakao Pay Key Indices 38 M Accumulated Members MAU 2.2 K W27 tn 1Q TPV 42% YOY 1Q Digital Payment TPV Digital Finance +20% YoY 83% Multi-service Users # OF USE CASES (MARCH.2022) Revenue ■Others Digital Payment Digital Finance (Wbn) (Wbn) 127 123 11 115 107 109 26% 19% 3+ 25% 83% 33% 31% 2+ 1 AAU BREAKDOWN 1) Key Indices as of 1Q22 63% 70% 69% 76% 62% 5% 6% 5% 5% 4% 1Q21 2Q21 3Q21 4Q21 1Q22 2) Kakao Pay's stand alone financials may differ from Kakao consolidated financials MTS (April 2022) Insurance (3Q 2022(E)) Operating Profit 1Q21 2Q21 3Q21 4Q21 1Q22 -8 -1 -1 -29 16#17Kakao Bank No.1 Online Banking with Innovative User-Friendly Technology B Kakao Bank Key Indices 18.6 M Customer Base W33.0 tn Deposit W26.0 tn W88.4 bn Loan 1Q Operating Profit MAU 15 M #1 Mobile Banking App +30% YoY Solid Growth from Fee Revenue + Platform Revenue Interest Revenue ■Fee Revenue Platform Revenue Others (Wbn) Fee + Platform =22% +20% YoY NIM 2.22% Net Profit (M) 1.2 1.8 0.7 29.2 23.5 46.3 25.3 47.7 13.7 18.3 0.9 22.2 43.6 38.5 40.2 (Wbn) Fee Income Debit Card Firm Banking Open Banking 27.3% 20.7% 18.8% 19.7% FX remittance Securities Account 11.7% 264.2 237.5 Loan Referral 203.8 165.5 179.2 69.3 Platform Co-branded 66.8 46.7 52.0 36.2 Income Credit Card Advertisement 1Q21 2Q21 3Q21 4Q21 1Q22 Mini 1Q21 2Q21 3Q21 4Q21 1Q22 1) Key Indices as of 1Q22 2) Kakao Bank's financials are recognized as equity method gains 17#18Enterprise B2B Business Expansion with Differentiated Al Technology kakaoenterprise Key Services Work Kakao Work Cloud Kakao i Cloud Logistics Business Kakao i LaaS Kakao i Connect Data Kakao i Insight Integrated Enterprise Platform 10 Years of Accumulated Know-hows Logistics Platform Interconnected with Al Business Service Platform Industry Insight based Data All-in-One Work Platform Kakao Work Flexible and Scalable Kakao i Cloud Packaged with Al Technology Kakao i Connect آپ 1 M+ accum. users within 1 year of launch CSA STAR Gold Rank Talk 過 Chatbot Center Al assistant Kasper 20+ major partner services integration 1) Key Indices as of 1Q22 each and every industry Connects all different forms of cloud Kakao i Assistant Voicebot Customer Specialized services for ((•)) Live Place Callbot 18#19Blockchain Transforming as a global blockchain platform most suited to metaverse Klaytn Governance Council Business Model 00 kakao ●CELLTRION LG Electronics GS SHOP BINANCE AhnLab kakaospace Yeahmobi kakaopay Hanwha Systems Shinhan Bank MMAKER PEARLABYSS COcone WEMADE Klaytn SK networks worldpay from FIS netmarble kakaogames AMOREPACIFIC LG International #HASHED Ozys The Korea Economic Daily HASHKEY 000 FSN UNG NEO PLY kakao gumi GROUND X ENTERTAINMENT GROUP B2B Mining BaaS NFT Market Others Klip Drops GameFi Kakao Games/Bora BORA Wemade/Wemix WM Neowiz/Neopin S מ Klaytn Ecosystem NFT Klip Drops Klaytn NFT Marketplace ✓ OpenSea One of 4 blockchains to be registered on world's largest NFT marketplace DeFi/Exchange ✰ BINANCE OKEX KLAYswap ClaimSwap 19#20Kakao Games Multi-Platform Game Company Encompassing PC and mobile Kakao Games Key Indices Game Value Chain Global Expansion Beyond Game BORA 2.0 Acquisition of a majority stake in Lionheart Studio Targets to release every game globally Release Line-up for 2022 Sports, Metaverse, NFT New business initiatives Global Blockchain Content Service Operating Profit (M) Revenue Schedule Title Genre In-house / Publishing (Developer) (Wbn) (Wbn) 1H '22 Uma Musume Pretty Derby XL Games New Title Growth Simulation Publishing (Cygames) 466.2 2H '22 Eversoul Dysterra (Early access) Ares: Rise of Guardians MMORPG Collectible RPG Survival FPS MMORPG Odin: Valhalla Rising MMORPG Goddess Order Action RPG In-house (Friends Games) Publishing (NineArk) Publishing (Reality Magic) Publishing (Second Dive) Publishing (Lionheart) Publishing (Load Complete) 15.9% 15.8% 12.0% 286.7 266.3 9.2% 6.3% 130.1 129.5 42.7 45.5 42.1 15.6 8.1 1H '23 Ares: Rise of Guardians MMORPG Publishing (Second Dive) 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 1) Key Indices as of 1Q22 2) Kakao Games' stand alone financials may differ from Kakao consolidated financials 20#21Music Building a Powerful Value Chain with Korea's Largest Music Platform Melon kakao Music Key Indices ENTERTAINMENT No.1 K-pop Music Distribution 5 M+ Melon Paying Subscribers 30+ Musician Team Stable Cash Flow through Music Production & Investment Music Business Portfolio Dominant Traffic Largest Music Content No.1 Domestic Music Platform 4+ Major Multi-Label (Starship, IST, Antenna, FlexM) Starship <IVE> 'Eleven' 'Love Dive' Investment Distribution Distribution 한눈에 보는 트렌드 1/12 Producer TOP100 18:00 멜론차트> 서울재생 재생 Performing Concert /Musical Musician Production 1C (Dumhdurum) 에이핑크의 2 GAMBLER Mgmt PAURA 3 After School Weeekly 4 Gas Pedal CRAVITY 1) Key Indices as of 1Q22 1theK Digital Content Marketer Production 5 THRILL RIDE Summer Hate (feat. HI) 지코 (ZICO) Q H 이용권 내가 좋아할 음악 My Daily Mix 내 취항 신곡 발견 0 0 My Daily My New Tra Mix Mix 에이핑크 몬스타엑스 에이핑크 몬스 Weeekly, CRAVITY Weeekly CRA 최신음악 전체 국내해외 전체보기 Simple 덤더럼 (Dumhdurumi AWav GAM Summer Hate (feat. B) 지코 (ZICO) ► 21 21#22Story D7 Growth through Innovative Business Model and Original IPs. Story Key Indices W214.6 bn W231.0 bn 1Q22 Piccoma GMV 1Q22 Entertainment GMV No. 1 Japan & Global Digital Comic App Global Expansion +41% YOY Platform + IP GMV +38% YoY Kakao Piccoma North America, SEA, Europe Piccoma's Yearly GMV SEA, Europe, NA Global Expansion I 웹툰원작 소설원작 신작 월 화 수 목 ng 토 일 완결 SMARTOON lady Solitaire La huitième MANGA SMARTOON 85% sera la boone! 69,397 FREE 180% WAIT UNTIL FREE Calendrier 유리의 벽 크레센도 UP UP Gratuitement tous les jours MANGA & SMARTOON (Unit: mn JPY) YoY Growth 114% 37,601 tapas Radish PREMIUM FICTION SERIALS 157% 6,255 13,409 2018 2019 2020 2021 1) Key Indices as of 1Q22 A découvrir ce jeudi 양아치의 스피치 바리공주 도박중독자의 Global One 가족 Build Platform Kakao Webtoon Piccoma France Launched FY2022 March Wuxiaworld North America Tapas, Radish, Wuxiaworld 22 222#23Media Distinguished Content Production Capability and Top-tier Talent Pool kakao Media Key Indices ENTERTAINMENT Virtuous 150+ Top-tier Actors 15+ 80+ Key Creator Content Cycle Original Video Content Title 6+ Managements Subsidiaries Content Production Capability Talent Pool Production Drama Competitive Movie casting power Entertainment Story IP Prominent PD/Writer/Director Original IPs from Entertainment and Piccoma Key Creator Top-notch producers with the expertise 사내 The Office Bund Date 맞선 Web novel 1) Key Indices as of 1Q22 로맨스 소설 해화 Video Production of Webtoon/Webnovel 'Money Heist: Korea Joint Economic Area', 'Broker' Virtuous Cycle of Content Value Chain 사내 Media & Story Synergy The Office Blind Date 맞선 ONARAK Webtoon 고객CED 그를 가득 '퇴사방지 로맨스 SES AFLH 맞선, Drama A Business Proposal Music Video Production/ Talent Cast Key IP Webtoon Webnovel 23#24Kakao Ecosystem Kakao Business Financial Overview#25Revenue Q1 Revenue YoY +31% / QoQ-8% Mix - Platform 54%: Content 46% Platform Content (in billion KRW) 1,785.7 1,740.8 Platform 1,651.7 Revenue Breakdown Talk Biz Advertising - Bizboard, Talk channel, Emoticon Commerce - Gift, Store, Makers, Kakao Friends Online Daum PC/Mobile Portal Biz Kakao Story / Style/Page Other Subsidiaries' Ad Mobility, Pay, Enterprise, Blockchain, Other Subsidiaries, Kakao Friends- Others 1,352.2 778.7 1,258.0 1,004.8 Platform- (45%) (56%) 886.0 (54%) Others 761.8 695.5 (56%) (55%) Game Mobile, PC, Other Music 962.1 Content Melon, Digital Music Distribution, Album Distribution, Music Production Entertainment 780.9 765.7 (55%) 562.4 590.4 Story (44%) (46%) Piccoma (45%) (44%) Media Video Production, Talent Agency 1Q21 2Q21 3Q21 4Q21 1Q22 25#26Platform / Content Platform YoY +27% / QoQ-12% Content YoY +36% / QoQ-2% Platform (in billion KRW) Content (in billion KRW) Talk Biz Portal Biz Platform-Others Game Music Story Media 1,004.8 886.0 778.7 761.8 40% 695.5 35% 962.1 9% 780.9 765.7 23% 12% 10% 32% 33% 590.4 562.4 29% 27% 13% 15% 20% 31% 13% 13% 17% 15% 17% 31% 31% 47% 48% 52% 52% 33% 32% 54% 51% 26% 27% 35% 32% 23% 22% 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 26#27Platform | Talk Biz Portal Biz Platform-Others Talk Biz YoY +23% / QoQ-3% Portal Biz YoY -3% / QoQ-13% Others YoY +52% / QoQ -22% Virtuous Cycle Between Advertising Products and Solid Growth of Commerce GMV Decrease in Ad Spending and Low Seasonality QoQ Decrease due to Seasonality but Strong YoY Growth Thanks to Business Expansion of Mobility and Pay Talk Biz (in billion KRW) Portal Biz Advertising Commerce 475.0 461.0 404.9 390.5 373.6 44.3% 45.8% 45.6% 45.8% 49.3% (in billion KRW) 55.7% 125.1 130.7 117.5 119.2 114.0 54.2% 54.2% 54.4% 50.7% Others (in billion KRW) 399.0 311.0 246.2 254.7 204.5 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 27#28Content | Game Music Game YoY +89% / QoQ-11% Music YoY +11% / QoQ +1% Game Mobile PC Other 463.1 8% 4% (in billion KRW) On-quarter Slowdown due to Stabilization of Odin's Domestic Revenue Music Production/Distribution Synergy on the Back of Melon Platform Music (in billion KRW) 276.8 24% 245.8 88% 197.1 202.7 204.4 7% 184.6 188.1 31% 5% 130.3 128.6 14% 20% 69% 39% 15% 64% 65% 47% 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 28#29| Content Story Media Story YoY +38%/QoQ +13% Entertainment - Global Success of 'Business Proposal' Piccoma - Dominant No.1 Market Presence in App Manga Market - Entertainment +41% (y) / +14% (q), Piccoma +34% (y) / +13% (q) and Penetration into Web Market Media YoY +3% / QoQ-16% On-quarter Decrease on High Base Effect in Video Production. and Talent Agency Story Entertainment Piccoma 186.4 174.7 (in billion KRW) 240.5 218.7 211.9 123.5 117.1 109.0 101.6 91.8 Media (in billion KRW) 87.4 89.5 83.1 72.9 75.0 117.0 101.6 102.9 82.9 84.8 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 29#30Earnings Summary (in billion KRW) Change 1Q21 4Q21 1Q22 YOY QoQ Total Revenue 1,258.0 1,785.7 1,651.7 31% -8% Platform 695.5 1,004.8 886.0 27% -12% Talk Biz 373.6 475.0 461.0 23% -3% Portal Biz 117.5 130.7 114.0 -3% -13% Platform - Others 204.5 399.0 311.0 52% -22% Content 562.4 780.9 765.7 36% -2% Game 130.3 276.8 245.8 89% -11% Music 184.6 202.7 204.4 11% 1% Story 174.7 211.9 240.5 38% 13% Media 72.9 89.5 75.0 3% -16% Operating Expenses 1,100.4 1,679.1 1,493.0 36% -11% Operating Profit 157.5 106.6 158.7 1% 49% Margin (%) 12.5% 6.0% 9.6% -2.9%pt 3.6%pt Net Profit 239.9 224.1 1,320.8 451% 489% Controlling Interests 224.5 76.8 1,301.8 480% 1,594% Non-controlling Interests 15.3 147.2 19.0 24% -87% 30#31Operating Expenses (in billion KRW) 1Q21 4Q21 Change 1Q22 YoY QoQ Operating Expenses 1,100.4 1,679.1 1,493.0 36% -11% Labor Cost 292.9 515.8 420.0 43% -19% Cost of Revenue 493.0 648.2 584.4 19% -10% Outsourcing/ 144.5 233.8 204.6 42% -12% Infrastructure Marketing Expense 67.2 128.8 114.6 70% -11% Depreciation and 79.2 119.8 130.8 65% 9% Amortization Cost Misc. 23.6 32.8 38.7 64% 18% 31#32Profits Operating Profit YoY +1% / QoQ +49% Net Profit YoY +451/ QoQ +489% Despite Active Investment in Global Expansion and New Business Initiatives, Recorded Solid On-year Revenue and OP Growth One-time Gain on Disposal of Equity Investment Stake Related to Change in Control of Dunamu Operating Profit(M) Net Profit(M) (in billion KRW) 168.2 168.31) 162.6 157.5 158.7 106.6 12.5% 12.0% 9.7% 9.6% 9.4% 6.0% (in billion KRW) 1,320.8 80.0% 866.3 315.9 239.9 49.8% 224.1 23.4% 19.1% 12.5% 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 1) Operating profit excluding one-off incentive (-61.7B) 32#33CapEx / Employees CapEx YoY +86% / QoQ-19% Investment in Servers and Contents Employees YoY +3,785 / QoQ +751 Business Expansion and Consolidation of Subsidiaries CapEx (in billion KRW) PP&E Intangible ■Capex to Revenue 94.6 38.6 69.6 56.3 17.5 20.3 Employees (# of people) Kakao Subsidiaries 14,929 129.7 14,178 13,174 12,136 104.4 11,144 62.7 39.6 11,581 10,790 10,104 9,417 8,431 67.0 64.8 56.0 52.1 36.0 7.3% 7.0% 6.3% 2,713 2,719 3,070 3,388 3,348 4.5% 4.0% 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22 33#34Financial Statements Summary - Consolidated Income Statement (in billion KRW) Statement of Financial Position (in billion KRW) Current Assets 1Q21 2Q21 3Q21 4Q21 1Q22 2020.12.31 202112.31 2022.3.31 Total Revenue 1,258.0 1,352.2 1,740.8 1,785.7 1,651.7 4,462.9 8,102.2 8,253.4 Platform 695.5 761.8 778.7 1,004.8 886.0 Cash and Cash Equivalents 2,877.5 5,231.5 4,768.2 Talk Biz 373.6 390.5 404.9 475.0 461.0 S-T Financial Instruments 694.1 1,573.6 1,451.7 Portal Biz 117.5 125.1 119.2 130.7 114.0 Account Receivable 247.4 398.1 355.3 New Biz 204.5 246.2 254.7 399.0 311.0 Other Current Financial Assets 225.1 319.1 458.5 Content 562.4 590.4 962.1 780.9 765.7 Other Current Assets 232.5 182.7 280.8 Game 130.3 128.6 463.1 276.8 245.8 Music 184.6 188.1 197.1 202.7 204.4 Non-Current Assets 6,987.4 13,712.0 15,452.7 Story 174.7 186.4 218.7 211.9 240.5 Investments in Associates and 1,504.4 Media 72.9 87.4 83.1 89.5 75.0 Joint Ventures 3,215.8 2,697.6 Tangible Assets 430.7 554.9 Operating Expenses 1,100.4 1,189.6 1,572.6 1,679.1 1,493.0 Intangible Assets 3,351.6 6,347.8 Labor Cost 292.9 301.0 307.2 515.8 420.0 Other Non-current Assets 166.5 345.5 590.2 6,432.3 330.6 Cost of Revenue 493.0 530.3 805.8 648.2 584.4 Outsourcing/ Finance Assets 503.6 144.5 164.9 197.8 233.8 204.6 Infrastructure Total Assets 11,954.0 965.4 22,779.6 787.2 24,493.3 Marketing Expense 67.2 91.1 148.1 128.8 114.6 Depreciation and Current Liabilities 2,929.6 5,630.3 5,700.8 79.2 78.8 89.1 119.8 130.8 Amortization Cost Account Payable and Other 836.0 1,231.0 1,914.2 Misc. 23.6 23.4 24.7 32.8 38.7 payable Short-term Borrowings 188.4 1,258.8 1,286.9 Operating Profit Income Tax Payable 112.1 188.9 200.2 157.5 162.6 168.2 106.6 158.7 Other Current Liabilities 1,793.1 2,951.6 2,299.5 Margin (%) 12.5% 12.0% 9.7% 6.0% 9.6% Non-Current Liabilities 1,166.1 2,885.1 3,381.6 Other Non-Operating 54.4 66.1 799.6 813.4 1,665.3 Non-Current Finance Lease Income 273.3 1318.2 1492.1 Obligations Other Non-Operating 6.6 19.2 20.7 360.7 48.4 Deferred Income Tax Liabilities 249.0 756.8 1077.1 Expenses Other Non-Current Liabilities 643.8 810.1 812.5 Financial Income 47.9 18.3 43.9 67.7 68.5 Financial Expenses 69.7 64.7 90.4 90.6 94.7 Finance Assets 430.6 674.2 516.5 Equity-method Income 135.1 186.7 171.2 17.1 10.2 Total Liabilities 4,526.2 9,189.6 9,598.9 Profit before Income Tax 318.7 349.7 1,071.8 553.5 1,759.6 Paid-in Capital 44.3 Income Tax 78.8 33.8 205.5 329.4 438.8 Capital Surplus 5,833.1 44.6 7,781.2 44.7 7,853.9 Net Profit 239.9 315.9 866.3 224.1 Other Accumulated Earnings 77.1 101.7 1,320.8 18.6 Controlling Interests 224.5 311.7 779.1 76.8 Non-controlling Interests 15.3 4.3 87.2 147.2 1,301.8 19.0 Accumulated Other 86.6 371.8 287.4 Comprehensive Income Retained Earnings 316.3 1,709.6 2,988.4 EBITDAR 236.7 241.0 255.1 225.4 288.5 Minority Interest 1,128.8 3,605.6 3,618.3 Adjusted EBITDAR 1) 258.2 279.6 269.8 298.7 332.0 Total Equity 7,427.7 13,590.0 14,894.4 Total Liabilities & Equity 11,954.0 22,779.6 24,493.3 1) Adjusted EBITDAR: included equity compensation expense 34#35Financial Statements Summary - Parent Income Statement Statement of Financial Position (in billion KRW) 2020.12.31 2021 12.31 2022.3.31 (in billion KRW) Total Revenue 1Q21 2Q21 3Q21 4Q21 1Q22 Current Assets 1,782.4 2,418.0 2,441.1 490.9 521.4 468.4 652.3 596.2 Cash and Cash Equivalents 1,356.9 1,478.7 1,129.7 S-T Financial Instruments 65.5 255.4 220.6 Account Receivable 120.5 152.2 138.1 Other Current Assets 239.5 531.7 952.8 Operating Expenses 414.1 424.1 371.9 520.8 473.1 Labor Cost 102.9 95.3 89.0 156.6 143.9 Non-Current Assets 5,563.1 7,606.7 9,305.7 Investments in Associates, Cost of Revenue 214.9 221.6 163.8 127.6 106.9 Subsidiaries and Joint 2,393.4 3,547.8 3,577.1 Outsourcing/ Ventures 55.4 64.7 73.5 165.2 154.9 Infrastructure Tangible Assets 272.1 312.6 334.8 Intangible Assets 2,106.2 1,573.6 1,603.1 Marketing Expense 3.4 4.5 4.9 11.8 4.2 Other Non-current Assets 791.3 2,172.7 3,790.6 Depreciation and 32.1 32.1 33.9 46.3 50.9 Amortization Cost Total Assets 7,345.5 10,024.7 11,746.8 Misc. 5.3 5.8 6.8 13.2 12.3 Current Liabilities 1,421.6 2,299.1 2,351.2 Account Payable and Other 1,035.7 493.5 551.6 Operating Profit payable 76.7 97.3 96.5 131.5 123.1 Short-term Borrowings 58.0 342.2 350.0 Margin (%) 15.6% 18.7% 20.6% 20.2% 20.6% Income Tax Payable 49.8 55.5 86.2 Other Current Liabilities 278.1 1,408.0 1,363.3 Other Non-Operating Non-Current Liabilities 598.5 1,171.3 1,669.3 3.3 5.9 44.6 7.0 1,405.8 Income Non-Current Finance Lease 121.9 1,076.1 1,242.2 Other Non-Operating Obligations 1.2 10.7 8.6 49.9 25.5 Expenses Deferred Income Tax 108.2 314.2 Liabilities Financial Income 37.6 18.4 49.2 123.3 45.5 Other Non-Current Liabilities 368.3 95.2 113.0 Financial Expenses 17.5 2.7 17.6 8.5 21.7 Total Liabilities 2,020.1 3,470.4 4,020.5 Paid-in Capital 44.3 44.6 44.7 Profit before Income Tax 98.9 108.1 164.1 203.5 1,527.2 Capital Surplus 4,986.9 5,489.2 5,529.2 Income Tax 20.3 10.0 (56.3) 94.1 382.8 Other Accumulated Earnings 18.6 77.1 101.7 Accumulated Other 66.5 240.5 226.4 Net Profit 78.6 98.2 220.5 109.4 1,144.4 Comprehensive Income Retained Earnings 209.1 702.8 1,824.3 EBITDAR Adjusted EBITDAR 1) 109.0 129.3 130.3 177.7 173.7 Total Equity 5,325.4 6,554.2 7,726.3 Total Liabilities & Equity 7,345.5 10,024.7 11,746.8 125.7 148.9 137.4 222.3 199.9 1) Adjusted EBITDAR: included equity compensation expense 35#36Thank You Copyright Kakao Corp.