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KakaoBank 4Q 2025 Earnings Release February 2026
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Contents Financial information contained in this document is based on K-IFRS that have not been reviewed by an independent auditor. Therefore, the information and financial data of KakaoBank contained in this document are subject to change upon an independent auditor’s review. The Company hereby expressly disclaims any and all liability for any loss or damage resulting from the investors’ reliance onthe information contained herein. Disclaimer I. II. III. IV. V. VI. VII. VIII. IX. X. 2025 Highlights Customer Base Operating Revenue Banking Biz Fee & Platform Biz AI Native Bank SG&A and CIR Operating Profit, ROE, and ROA Asset Quality Appendix
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3 606.9 649.4 2024 20252024 2025 2024 2025 24.88 26.70 2024 2025 (mn) +1.82mn (YoY) Customer base (Wtn) (YoY) +24% Deposit balance (Wbn) Operating profit (YoY) +7% 55.0 68.3 (Wbn) 1,367.1 1,434.9 (YoY) +5% (%) 2024 2025 0.65 0.55 (YoY) CCR -10bp Profit from loan and treasury management(1) I. 2025 Highlights (1/2) Strengthen fundamentals based on the constant growth of customer base and deposit franchise Note: (1) Profit from loan and treasury management: interest revenue from loan + treasury management profit – funding cost
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4 I. 2025 Highlights (2/2) (Wtn) Superbank lists on IDX (Indonesia Stock Exchange) in Dec 2025, exceeding its peers’ market value; KakaoBank achieves highest ‘AAA’ rating in MSCI ESG Rating <Major MSCI ESG Rating improvements> Privacy & data security Customer financial protection Corporate Governance <Superbanklists on IDX> Note : (1) Compare the enterprise value on Dec 31 2023 and Jan 15 2026 (1 IDR = 0.087 KRW) 2022 2023 2024 2025 AA BBB AAA AA +230% (compared to initial investment(1)) Indonesia Superbank Enterprise Value ‘AAA’ Highest MSCI ESG Rating within just 3 years ESG Rating 1.0 3.3 DEC 2025 JAN 2026
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5 26% 29% 80% 82% 84% 87% 74% 78% 52% 60% 15% 19% 2024 2025 60s~ 50s 40s 30s 20s ~10s MAU, WAU(1) and Customers (mn users) II. Customer Base (1/2) 22.8 23.6 24.0 24.4 24.9 25.5 25.9 26.2 26.7 17.6 18.0 17.8 18.7 18.9 18.9 19.9 20.0 20.0 12.7 13.2 13.0 13.5 13.6 13.7 14.5 14.5 14.7 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Customers MAU WAU Source:Nielsen Media Korea Digital Data , Company data Note: (1) Quarterly average MAU, Quarterly average WAU (2) Ministry of the Interior and Safety population by age group, ~10s population adjusted to 0~19 years old with ‘My Kids Service’ launch Customer base increased to 26.70mn(YTD +1.82mn) thanks to higher penetration across all age groups; MAU and WAU reached all-time high at 20.00mn and 14.70mn respectively Penetration by Age Group(2)
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6 II. Customer Base (2/2) 28% of new customers are ‘My Kids Service(1)’ users, strengthening the foundation for future growth; ‘My Kids Service’ achieved 10% penetration among 0-year-old population, solidifying its position as the “firstbank account” New CustomerBreakdown 4Q25 4Q25 New Customers 0.46mn My Kids Service ‘My Kids Service’ to Increase Penetration(2) of Minors and Deposit Growth Note: (1) Launched in Sep 2025 (2) Ministry of the Interior and Safety population by age group 28% of new customers are ‘My Kids Service’ users 2025년 9월 출시 +1M +2M +3M +4M 9.9% 0-year-old population penetration level reached 10% within 4 months of service launch Sep 2025 Launch +4M 0% +1M +2M +3M With a lower withdrawal-to-deposit ratio than current deposit, the deposit balance grew at average monthly rate of 102%over 4 months after launch Sep 2025 Launch
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7 607.8 602.2 604.1 614.3 636.3 51.1 53.4 52.2 54.4 53.229.8 24.2 23.7 23.3 26.158.6 104.7 98.0 72.7 43.4 747.3 784.5 778.0 764.7 759.0 4Q24 1Q25 2Q25 3Q25 4Q25 Interest revenue Fee revenue Platform revenue Others III. Operating Revenue Operating revenue YoY +2% thanks to growth from Interest and Fee revenue Operating Revenue Key Components (2025) Platform revenueFee revenue Debit Card 67% Firm banking, Open banking, FX remittance, etc. 33% 39% 24% 11% 26% Ads Loan ComparisonSecurities brokerage Credit card issuance platform, mini, etc 69% 22% 9%Gains on NPL sales FX related gains, etc. Financial invesments OthersInterest revenue 79% 21% Loans Financial investments Note: (1) Include interest revenue from Treasury Management(Bond, Call, RP and etc.) (2) Include sales and valuation gains from Treasury Management(Gainson bond sales, revenue from fund (including MMF) and etc.) (1) (2) (Wbn)
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8 60.8% 60.8% 58.8% 59.0% 57.1% 38.3% 38.6% 38.6% 39.0% 39.2% 4Q24 1Q25 2Q25 3Q25 4Q25 KakaoBank Banking Industry(Wtn) Deposit balance YoY +24%, QoQ +4%; Growth of time deposits driven by retirement pension deposits launched in Dec 2025 IV. Banking Biz : Deposit (1/2) 33.5 36.7 37.4 38.8 39.0 13.8 16.8 18.8 19.1 22.0 7.7 6.9 7.5 7.8 7.3 55.0 60.4 63.7 65.7 68.3 4Q24 1Q25 2Q25 3Q25 4Q25 Currnet deposits Time deposits Installment deposits Funding Cost(3) Deposit Balance Trend & Breakdown(1) Low-Cost Deposit Portion(2) 2.22% 2.12% 2.02% 1.96% 1.86% 4Q24 1Q25 2Q25 3Q25 4Q25 KakaoBank Quarterly 2.68% 2.29% 2024 '25.09 2025 KakaoBank(Cumulative) 4 Major Banks(Cumulative) 2.30% 2.07% Note: (1) Include foreign currency deposits (2) Bank of Korea Financial Market Trend –Money Market Deposits portion from total bank deposits (3) Financial Statistics Information System –Average of 4 major banks (KB, Shinhan, Hana, Woori) 1.98%
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9 Group Account exceeded overall deposit growth, contributing to an increase in current deposits IV. Banking Biz : Deposit (2/2) Group Account BalanceGroup Account Users 11.3 11.8 12.0 12.2 12.5 4Q24 1Q25 2Q25 3Q25 4Q25 (mn) 8.4 9.6 10.0 10.5 10.7 25.1% 26.2% 26.7% 27.2% 27.4% 4Q24 1Q25 2Q25 3Q25 4Q25 Group Account balance within current deposits (Wtn) YoY +10% YoY +27%
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10 2.15% 2.09% 1.92% 1.81% 1.94% 4Q24 1Q25 2Q25 3Q25 4Q25 KakaoBank Quarterly Loan balance YoY +9%, QoQ +4% led by solid growth of SOHO and Bogeumjari loans; NIM improved QoQ thanks to increase in asset-to-liability ratio and spread IV. Banking Biz : Loan (1/2) Note: (1) Based on retail + SOHO unsecured loan average balance (2) Financial Statistics Information System –Average of 4 major banks (KB, Shinhan, Hana, Woori) Net Interest Margin (NIM) Mid-Credit Loans(1) (Wtn) (2) Loan Balance Trend & Breakdown (Wtn) 17.1 17.1 17.6 18.0 18.3 11.5 11.8 11.6 11.0 11.0 12.7 13.1 13.1 13.4 14.5 1.9 2.3 2.5 2.8 3.1 43.2 44.3 44.8 45.2 46.9 4Q24 1Q25 2Q25 3Q25 4Q25 Unsecured personal Housing deposit Mortgage SOHO 2.16% 1.93% 1.94% 1.56% 1.56% 2024 '25.09 2025 KakaoBank(Cumulative) 4 Major Banks(Cumulative) 4.9 4.9 4.9 4.9 4.9 32.2% 32.8% 33.1% 32.9% 32.1% 4Q24 1Q25 2Q25 3Q25 4Q25 Average balance % within unsecured loan
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11 IV. Banking Biz : Loan (2/2) Together Loan (Dec 2025) Application All-in-one process within KakaoBank app (Innovative Financial Service enables loan outsourcing) Assessment Assessment by each bank (loan approval from both banks necessary) Execution 5:5 allocation of loan Maintenance Payment & interest collection, interest rate reduction right, certificate issuance, prepayment, termination, etc. Post- execution Outsourcing of debt collection (under a regulatory exception) Interest revenue Transaction fee Management fee (one-time fee) (recurring fee) + + Strengthen business model by acquiring platform revenue Loan process KakaoBank-Jeonbuk Bank ‘Together Loan’, a joint unsecured personal loan Diversify platform revenue with the launch of ‘Together Loan’, designated as Innovative Financial Service; Expand influence within SOHO loan market by connecting optimal guaranteed loans based on customer data Expansion of SOHO Guaranteed•SecuredLoan 1.9 2.3 2.5 2.8 3.1 49% 56% 62% 65% 67% 4Q24 1Q25 2Q25 3Q25 4Q25 Loan balance Guaranteed•secured loan ratio Newly Issued SOHO Guaranteed Loan M/S(1) 9% 2025 Note: (1) Regional Credit GuaranteeFoundationsdata; 2025 newly issued loan M/S
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12 10.9 11.4 13.4 16.0 15.6 2.0 2.4 2.9 3.4 2.7 4.0 6.9 8.3 5.6 7.4 0.1 0.4 0.6 0.7 0.7 17.0 21.1 25.2 25.7 26.4 4Q24 1Q25 2Q25 3Q25 4Q25 Bond Fund Short-term investment Others Treasury Management AUM(1) Treasury ManagementProfit(2) (Wbn) Note: (1) Short-term investment: MMF, Call, RP, etc. Others: Trading assets, etc. (2) Treasury Management interest revenue, valuation gain from fund and gain on bond sales included; funding cost from depositis not considered (Wtn) IV. Banking Biz : Treasury Management Decrease in valuation gains on fund due to rise in market interest rates; Treasury management profits expected to increase through purchasing high-yield bonds diversifying investments in funds 134.8 164.8 181.0 181.1 143.9 4Q24 1Q25 2Q25 3Q25 4Q25
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13 57 63 67 68 71 4Q24 1Q25 2Q25 3Q25 4Q25 V. Fee & Platform Biz (1/2) – Loan Platform (Institutions) Loan Comparison Partners Loan Comparison Execution Amount * Including all partners for unsecured personal loan and mortgage Strengthening market influence by expanding partners and product lineup 95% 90% 90% 5% 10% 10% 1,112 1,154 1,387 1,224 1,230 4Q24 1Q25 2Q25 3Q25 4Q25 Unsecured personal loan Mortgage(Wbn) Loan Comparison Service Expansion Plan Unsecured loan comparison Mortgage comparison Financial Platform Expand into auto loan and SOHO loan refinancing platform Expand loan traffic Strengthen partners and product lineup
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14 MMF Box, with balance of W1.1tn within 6 months after launch, positioned as leading investment product; Advertising platform to be strengthened through billing system and service diversification V. Fee & Platform Biz (2/2) – Investment & Advertisement Platform Reinvestment based on MMF Box MMF Box IRP ISA RP Connect customers’ investment funds to various investment products based on MMF Box Build a virtuous investment cycle, expanding into direct investment and pension products Investment Upon maturity Automatically deposit investment funds into MMF Box upon maturity Growth of Ad Revenue 2024 2025 YoY +54% CPT Secure inventories CPM Guarantee exposures CPC Focus on click CPA Focus on action Expand performance-based advertisement products(1) Meet advertisers needs by expanding product lineup Note: (1) CPT(Click Per Time), CPM(Cost Per Mille), CPC(Cost Per Click), CPA(Cost Per Action) Bond Domestic Stock Foreign Stock Fund Issued Note Investment Products (W 1.1 tn)
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15 ① AI 검색, AI 금융계산기, AI 이체, 상담 Enhance accessibility by integrating various AI services into a unified experience, accessible from the home screen ② Recommend and suggest speech based on keywords. Provide convenience by suggesting questions on what users may need - Present contexts that help users to recognize and discover AI services VI. AI Native Bank Enhance accessibility and user experience by offering an integrated AI service on home screen; cumulative AI service users reached 2.8mn KakaoBank AI AI Search AI Financial Calculator AI Transfer AI Group Treasurer Conversational AI service cumulative users 2.8 million KakaoBank AI (Apr 2025) AI Tab Quick start with one click AI Search AI Financial Calculator AI Transfer Chatbot for Customer Support
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16 SG&A YoY -13% due to decrease in labor cost VII. SG&A and CIR SG&A 70.3 65.5 69.1 72.8 47.7 14.1 13.7 14.7 16.0 17.3 2.9 3.4 3.6 3.6 3.6 14.7 7.4 4.5 7.6 11.9 14.5 14.0 17.2 16.7 16.9 25.5 20.5 21.9 22.3 25.5 142.0 124.5 131.0 139.0 122.9 4Q24 1Q25 2Q25 3Q25 4Q25 Labor D&A Rent Advertisement IT expense Others (Wbn) CIR (Cost to Income Ratio) Numberof Employess (persons) 1,386 1,552 1,662 1,806 2022 2023 2024 2025 42.6% 37.3% 36.4% 36.9% 2022 2023 2024 2025 (Cumulative)
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17 VIII. Operating Profit, ROE and ROA Operating Profit (Wbn) 115.0 183.0 170.1 151.1 145.1 4Q24 1Q25 2Q25 3Q25 4Q25 ROE ROA 4.69% 5.97% 6.92% 7.22% 2022 2023 2024 2025 0.67% 0.72% 0.73% 0.68% 2022 2023 2024 2025 Operating profit YoY +26% thanks to the growth from treasury management and the lower costs
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18 IX. Asset Quality SBL & NPL RatioTotal Loans & Delinquency Ratio Loan Loss Allowance & Coverage Ratio(1) 43.2 44.3 44.8 45.2 46.9 0.52% 0.51% 0.52% 0.51% 0.51% 4Q24 1Q25 2Q25 3Q25 4Q25 203.9 227.6 240.1 250.2 248.5 0.47% 0.51% 0.54% 0.55% 0.53% 4Q24 1Q25 2Q25 3Q25 4Q25 500.4 515.3 525.9 529.8 536.2 245% 226% 219% 212% 216% 4Q24 1Q25 2Q25 3Q25 4Q25 Note: (1) NPL Coverage Ratio = Loan Loss Allowance / Substandard and below loans (2) Credit Cost Ratio = YTD provisions for credit losses(annualized) / Average balance of total outstanding loans (Wtn) (Wbn) (Wbn) Delinquency ratio maintained a stable trend, flat QoQ; Credit cost ratio improved QoQ -10bp at 0.55% Cumulative Provisioning & Credit Cost Ratio(2) 271.5 61.8 119.5 175.3 245.1 0.65% 0.57% 0.55% 0.53% 0.55% 0.58% 0.51% 4Q24 1Q25 2Q25 3Q25 4Q25 CCR(YTD) Recurring CCR(YTD) (Wbn)
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19 X. Appendix : Global Biz Superbanklisted on IDX in Dec 2025, surpassing the market cap of competitors based on strong shareholder synergies; Signed Joint Venture Agreement(JVA) for the establishment of Virtual Bank in Thailand Market Cap(2) of Indonesian Digital Banks Customer acquisition, leveraging shareholder ecosystems, and product portfolio expansion [60% of customers came from shareholder platforms] Leading Telecommunication and Digital Service Company in Southeast Asia Digital Bank Joint Venture between Grab and Singtel 8.7% 7.4% 10.4% 26.7% 29.1%Global Digital Bank Major Indonesian Media Group Emtek and Affiliates No.1 Superapp in Southeast Asia SuperBankEcosystem(1) (Wtn) Signing of JVA for the Establishment of Virtual Bank Singed the JVA in Jan 2026 for the establishment of a virtual bank in Thailand KakaoBank – SCBX – WeTech(3) consortium was selected as a successful applicant for virtual bank in Jun 2025 KakaoBank is the first Korean bank to enter the Thai market after 1990s Note : (1) Exclude shareholders holding less than 5% (3) WeBank Technology Services Limited, a subsidiary of WeBank (2) As of Jan 15 2026 (1 IDR = 0.087 KRW) 2.3 2.8 3.3 Bank Jago Allo Bank Super Bank
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20 X. Appendix : ESG 1% 1% 3% 15% 19% 43% 17% CCC B BB BBB A AA AAA KakaoBank earns top AAA rating in MSCI(1) ESG evaluation in 2025; Achieved above industry scores in all criteria, recognized for excellence in financial consumer protection, data security and corporate governance Maintain extensive data protection processes and a wide range of compliance programs • ISO 27001(Information Security Management) • ISO 27701(Privacy Information Management) • ISMS-P(Information Security and Privacy Management for electronic financial services) Support financial education for vulnerable groups by establishing an independent consumer protection organization Note: (1) Morgan Stanley Capital International ESG Rating : the authoritative global ESG rating, evaluating more than 17,000 companiesworldwide ESG Assessment in Major Criteria MSCI ESG Rating Trend 2022 2023 2024 AAA CCC BBB B BB AA A 2025 MSCI Rating Distribution for Financial Companies For 207 companies including MSCI ACWI (All Country World Equity Index) Consumer financial protection Privacy & data security Corporate governance Industry average KakaoBank Key Assessments Consumer financial protection Privacy & data security BBB AA AA AAA 2025
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21 X. Appendix : New Service Pipeline AI Invitation (1Q26) ♦ Create an invitation, with AI, with simple texts and image; allows attendee management, making meetings more enjoyable with easy RSVP features and fee transfers Foreign Currency Account (2Q26) ♦ Easy to save, transfer and invest in foreign currencies in daily life. Expand further into payment Mortgage for Balance Payment (3Q26) ♦ Establish stable foundations by expanding mortgage loan lineup for newly built apartments Crypto Asset Service Expansion (3Q26) ♦ Check real-time virtual asset prices and your asset balance across different crypto exchanges Joint Venture Establishment for Virtual Bank in Thailand (1Q26) ♦ KakaoBankconsortium, in Jun 2025, selected as a successful applicant for virtual bank in Thailand; plans to inject capital to the Thai virtual bank JV in 1Q26 Foreigner Service (4Q26) ♦ Services for foreigners available in multiple languages, from core banking services–including account opening, overseas remittance, and debit card–to AI services Investment Tab (2Q26) ♦ Manage your investments and naturally explore various financial products ₩ Inorganic Investment ♦ Acquisition in sectors with high strategic and financial contribution
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22 (Wbn) 4Q25 4Q24 YoY 3Q25 QoQ Income Statement Operating Revenue 759.0 747.3 11.7 1.6% 764.7 -5.7 -0.7% Interest Revenue 636.3 607.8 28.5 4.7% 614.3 22.0 3.6% Fee & Commission Revenue 79.3 80.9 -1.6 -2.0% 77.7 1.6 2.1% Fee Revenue 53.2 51.1 2.1 4.1% 54.4 -1.2 -2.2% Platform Revenue 26.1 29.8 -3.7 -12.4% 23.3 2.8 12.0% Others 43.4 58.6 -15.2 -25.9% 72.7 -29.3 -40.3% Operating Expense 544.8 535.7 9.1 1.7% 557.9 -13.1 -2.3% Interest Expense 280.0 281.2 -1.2 -0.4% 293.9 -13.9 -4.7% Fee & Commission Expense 74.4 71.0 3.4 4.8% 71.3 3.1 4.3% Loan & Deposit related Expense(1) 8.7 6.9 1.8 26.1% 7.1 1.6 22.5% Fee & Platform Expense 50.0 48.3 1.7 3.5% 49.7 0.3 0.6% CD/ATM Expense 15.7 15.8 -0.1 -0.6% 14.5 1.2 8.3% SG&A 122.9 142.0 -19.1 -13.5% 139 -16.1 -11.6% Others 67.5 41.6 25.9 62.3% 53.7 13.8 25.7% Provision for Credit Losses on Financial Asset 69.1 96.6 -27.5 -28.5% 55.7 13.4 24.1% Operating Profit 145.1 115.0 30.1 26.2% 151.1 -6.0 -4.0% Non-operating Income 6.7 0.8 5.9 737.5% 0.9 5.8 644.4% Non-operating Expense 10.4 3.8 6.6 173.7% 4.0 6.4 160.0% Pre-tax Profit 141.4 112.0 29.4 26.3% 148 -6.6 -4.4% Net Profit 105.2 84.5 20.7 24.5% 111.4 -6.2 -5.6% % Operating Revenue 13.9% 11.3% 2.6% 14.6% -0.7% X. Appendix : Income Statement Note: (1) Mortgage loan related commissions, credit fund fee, commission related to debt recovery and delegation
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23 (Wbn) 4Q25 4Q24 YoY 3Q25 QoQ SG&A 122.9 142.0 -19.1 -13.5% 139.0 -16.1 -11.6% Labor Cost 47.7 70.3 -22.6 -32.1% 72.8 -25.1 -34.5% D&A 17.3 14.1 3.2 22.7% 16.0 1.3 8.1% IT Expense 16.9 14.5 2.4 16.6% 16.7 0.2 1.2% Rent 3.6 2.9 0.7 24.1% 3.6 0.0 0.0% Advertisement 11.9 14.7 -2.8 -19.0% 7.6 4.3 56.6% Others 25.5 25.5 0.0 0.0% 22.3 3.2 14.3% X. Appendix : SG&A
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24 (Wbn) 2025.12 2024.12 YTD 2025.09 QoQ Balance Sheet Total Assets 76,409.8 62,805.3 21.7% 73,988.0 3.3% Cash & Cash Equivalent 2,113.4 1,855.4 13.9% 1,749.8 20.8% Financial assets at FV through profit or loss 5,031.5 4,288.5 17.3% 7,722.8 -34.8% Financial assets at FV through OCI 10,288.8 6,787.0 51.6% 10,551.5 -2.5% Securities at amortized cost 5,364.4 4,084.6 31.3% 5,417.6 -1.0% Loan 51,745.6 44,503.8 16.3% 46,699.0 10.8% Tangible Assets 225.4 176.8 27.5% 194.8 15.7% Intangible Assets 45.3 43.3 4.6% 43.9 3.2% Other Assets 1,595.4 1,065.9 49.7% 1,608.6 -0.8% Total Liabilities 69,659.9 56,265.2 23.8% 67,273.0 3.5% Deposit 68,323.6 54,971.0 24.3% 65,742.5 3.9% Provision Liability 44.8 58.0 -22.8% 65.1 -31.2% Other Liabilities 1,291.5 1,236.2 4.5% 1,465.4 -11.9% Total Equity 6,749.9 6,540.1 3.2% 6,715.0 0.5% Share Capital 2,385.1 2,384.8 0.0% 2,385.0 0.0% Capital Surplus 2,988.4 2,988.2 0.0% 2,988.2 0.0% Capital Adjustments 0.1 0.2 -50.0% 0.5 -80.0% AOCI -55.7 43.7 -227.5% 14.5 -484.1% Retained Earnings 1,432.0 1,123.2 27.5% 1,326.8 7.9% X. Appendix : Balance Sheet