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KakaoBank 2Q 2026 Earnings Release August 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. 1H26 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 Record-high net profit driven by sustained customer growth and balanced expansion in net interest income and Fee & Commission profit 26.70 27.63 2025 1H26 (mn) +0.93mn (YTD) Customer Base 642.0 775.7 1H25 1H26 (Wbn) (YoY) +21% Net interest income I. 1H26 Highlights (Wbn) 13.1 25.1 1H25 1H26 Fee &Commission profit +92% (YoY) (Wbn) 263.7 328.0 1H25 1H26 Net Profit (YoY) +24%
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4 MAU, WAU(1) and Customers (mn) II. Customer Base 24.0 24.4 24.9 25.5 25.9 26.2 26.7 27.3 27.6 17.8 18.7 18.9 18.9 19.9 20.0 20.0 20.3 20.3 13.0 13.5 13.6 13.7 14.5 14.5 14.7 15.0 15.0 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Customers MAU WAU Source: Nielsen Media Korea Digital Data, Ministry of the Interior and Safety, Company data Note: (1) Average MAU and WAU during each quarter (2) Based on Ministry of the Interior and Safety population data; ~10s defined as 0~19 years old Customer base reached 27.63mn (+0.93mn YTD) with continued penetration increase across all age groups; MAU and WAU maintained solid momentum on new product launches and service diversification Penetration by Age Group(2) 27% 31% 82% 83% 86% 88% 76% 80% 57% 63% 18% 22% 2Q25 2Q26 60s~ 50s 40s 30s 20s ~10s
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5 604.1 614.3 636.3 659.7 690.4 52.1 54.1 52.6 57.4 63.4 23.8 23.6 26.6 23.4 25.3 98.0 72.7 43.4 78.8 49.9778.0 764.7 758.9 819.3 829.0 2Q25 3Q25 4Q25 1Q26 2Q26 Interest revenue Fee revenue Platform revenue Others III. Operating Revenue Operating Revenue Key Components (2Q26) Platform RevenueFee Revenue Debit card 67% Firm banking, Open banking, FX remittance, etc. 33% 34% 31% 10% 25% Ads Loan comparison Brokerage account referral Credit card issuance platform, mini, etc. 65% 21% 14% Gain on NPL sales FX related gains, etc. Financial investments OthersInterest Revenue 79% 21% Loan Financial investments Note: (1) Include interest revenue from Treasury Management (Bond, Call loan/RP and etc.) (2) Include sales and valuation gains from Treasury Management (Bond, Fund, and etc.) and strategic investments (1) (2) (Wbn) Operating revenue rose +7% YoY thanks to balanced growth from Interest and Fee & Platform revenue
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6 58.8% 59.0% 57.1% 57.8% 56.7% 38.6% 39.0% 39.2% 39.6% 39.5% 2Q25 3Q25 4Q25 1Q26 2Q26 KakaoBank Banking Industry Deposit balance grew +5% YoY but declined -3% QoQ owing to the recent money move into capital markets; Funding cost declined -2bp QoQ on lower cost of savings deposits IV. Banking Biz : Deposit (1/3) 37.4 38.8 39.0 40.1 38.0 18.8 19.1 22.0 23.4 23.5 7.5 7.8 7.3 5.9 5.6 63.7 65.7 68.3 69.4 67.1 2Q25 3Q25 4Q25 1Q26 2Q26 Current deposits Time deposits Installment deposits Funding Cost(3) Deposit Balance Trend & Breakdown(1) Low-Cost Deposit Portion(2) 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 –Arithmetic average funding cost on KRW deposits of 4 major banks(KB, Shinhan, Hana and Woori) 2.02% 1.96% 1.86% 1.84% 1.82% 2Q25 3Q25 4Q25 1Q26 2Q26 KakaoBank Quarterly 1.98% 1.84% 1.83% 2.23% 2.06% 2025 1Q26 1H26 KakaoBank(Cumulative) 4 Major Banks(Cumulative) (Wtn)
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7 Group Account balance continued to grow on a solid user base despite the decline in total deposit balance; Group owners, who drive the growth of Group Accounts, contribute significantly to both activity and profitability IV. Banking Biz : Deposit (2/3) Group Account Users 12.0 12.2 12.5 12.9 13.1 2Q25 3Q25 4Q25 1Q26 2Q26 (mn) Group Owner Activity Level & Profitability Group Account Balance 10.0 10.5 10.7 11.6 11.7 2Q25 3Q25 4Q25 1Q26 2Q26 (Wtn) General customers Activation rate(1) Group Owner Activation rate(2)36% General customers Loan interest revenue per user Group Owner Loan interest revenue per owner(3) 99% Note: (1) General customers: KakaoBank customers who are not Group Owners (2) Activation rate: 2Q26 average MAU / 2Q26 average number of customers (3) 2Q26 Loan interest revenue per user » Group Account is a high-margin network product connecting multiple participants centered around the Group Owner
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8 IV. Banking Biz : Deposit (3/3) Progressively expanding deposit franchise, into SOHO, FX, corporate and institutional markets ForeignCurrency Account (Jun 2026 Launch) Deposit Market Size of Korean Banks » Buyforeign currencies across 9 currencies with zero exchange fees » Transfer foreign currency to linked brokerage accounts with no transfer fees Note: (1) Bank of Korea Economic Statistics System(May 2026) (2) Company data (3) Bank of Korea Resident FX Deposit Trend (Jun 2026) (4) SOHO deducted from Bank of Korea Economic Statistics System; Institutional: Insurers, securities firms, asset managers, card companies, government, etc. (May 2026) Retail 43% SOHO 8%FX 1% Total Addressable Deposit Market W2,279tn 2026 2017 2021 Mid-to-long term Current coverageMid-to-long-term expansion areas (1) (2) (3) (4) Corporate/ Institutional 48%
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9 Loan balance grew +8% YoY and +1% QoQ thanks to stable growth in SOHO and unsecured personal loans; NIM rose +13bp QoQ on significant spread widening from higher asset yields and lower funding cost IV. Banking Biz : Loan (1/2) Note: (1) Based on retail and SOHO unsecured loan average balance (2) Financial Statistics Information System –Average of 4 major banks (KB, Shinhan, Hana, Woori) Net Interest Margin(NIM)(2) Mid-Credit Loans(1) (Wtn) Loan Balance Trend & Breakdown (Wtn) 17.6 18.0 18.3 18.2 19.2 11.6 11.0 11.0 11.0 10.5 13.1 13.4 14.5 15.1 14.8 2.5 2.8 3.1 3.4 3.7 44.8 45.2 46.9 47.7 48.2 2Q25 3Q25 4Q25 1Q26 2Q26 Unsecured personal Housing deposit Mortgage SOHO 4.9 4.9 4.9 4.9 4.8 33.1% 32.9% 32.1% 32.3% 31.9% 2Q25 3Q25 4Q25 1Q26 2Q26 Average balance % within unsecured loan 1.92% 1.81% 1.94% 2.00% 2.13% 2Q25 3Q25 4Q25 1Q26 2Q26 KakaoBank Quarterly 1.94% 2.00% 2.07% 1.56% 1.62% 2025 1Q26 1H26 KakaoBank(Cumulative) 4 Major Banks(Cumulative)
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10 IV. Banking Biz : Loan (2/2) Sustained growth in SOHO lending, with guaranteed·secured loans reaching 70% of portfolio; Designation as an ‘Innovative Joint Lending Financial Service’ establishes the regulatory framework for non-face to face corporate lending 2.5 2.8 3.1 3.4 3.7 61.6% 65.0% 66.5% 68.8% 69.1% 2Q25 3Q25 4Q25 1Q26 2Q26 Loan balance Guranteed·secured loan portion(Wtn) YoY +45% SOHO Loan Balance Trend Corporate Loan Coverage Expansion(1) Note: (1) Bank of Korea Financial Market Trend. As of Jun 2026 SOHO Loan Market W461tn SME Loan Market W632tn Expansion to corporate loan Joint loan with regional bank launch Secured loan launch Unsecured· guarantee loan launch Mid-to-long term 4Q27 4Q25 4Q22
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11 13.4 16.0 15.6 17.4 17.6 2.9 3.4 2.7 3.2 3.0 8.3 5.6 7.4 6.6 2.4 0.6 0.7 0.7 0.5 0.4 25.2 25.7 26.4 27.7 23.4 2Q25 3Q25 4Q25 1Q26 2Q26 Bond Fund Short-term invesment Others Treasury Management AUM(1) Treasury Management Profit(2) (Wbn) Note: (1)Short-term investment: MMF, Call, RP and etc. Others: Trading assets and etc. (2) Include interest revenue and sales and valuation gains from Treasury Management; funding cost from deposit is not considered (Wtn) IV. Banking Biz : Treasury Management Treasury management profits increased +12% QoQ, driven by higher bond interest amid rising market rates 181.0 181.1 143.9 152.0 169.8 2Q25 3Q25 4Q25 1Q26 2Q26
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12 Auto finance (Sep 2026 Launch) +6 partners 1,394 1,224 1,221 1,333 1,560 2Q25 3Q25 4Q25 1Q26 2Q26 V. Fee & Platform Biz (1/4) – Loan Platform Robust growth in loan comparison execution volume of +12% YoY and +17% QoQ underpinned by strong customer engagement; Strengthenplatform competitiveness by expanding partners and product lineup Loan Comparison Service ExpansionLoan Comparison Execution Volume (Wbn) YoY +12% 66 72 1H25 1H26 Partners(1) New products Note: (1) Unsecured loan and mortgage partners
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13 V. Fee & Platform Biz (2/4) – Payment Debit Card Transaction Volume(1) Debit card transaction volume grew +5% YoY, reflecting high-oil-price relief payments; Strengthening services through Payment Home, that integrates payment management, as well as PLCC launch (Wtn) Friends SOHO Group Note: (1) Transaction volume for Jul – Nov 2025 includes transactions from the government-led program 'People's Livelihood Recovery Consumption Coupon’ (2) Private Label Credit Card 6.0 6.2 6.2 6.0 6.3 2Q25 3Q25 4Q25 1Q26 2Q26 Payment Home (Aug 2026 Launch) PLCC(2)(Aug 2026 Launch) • Monthly benefit of max W50k on simple payments, AI subscriptions, and membership services • Generate volume-based fee revenue • Drive spending and loyalty by consolidating trans- action history, rewards, and performance metrics
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14 V. Fee & Platform Biz (3/4) – Advertisement Platform Advertisement revenue rose YoY +81%, thanks to increased premium ad(1) volume, leading to higher revenue contribution Traffic Expansion and continued Ad Revenue Growth 2Q25 2Q26 YoY +38% 2Q25 2Q26 YoY +81% Traffic Ad Revenue Growing Ad Portion within Platform Revenue 19% 2025 2Q26 31% Note: (1) Premium advertising: guaranteed display advertising(DA) placed on premium inventory such as main home screen (2) Network advertising: ad delivery method by which the ad platform company displays an advertisement across multiple websites, media, and mobile apps » Expand premium ad pages in seasonal sectors (securities and tax refunds) » Build a stable revenue source through scaling of network advertising(2) » Increase ad inventories via new services(Investment Tab and Payment Home)
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15 Expand fund balance M/S through differentiated competitiveness such as unrivaled digital convenience; Attract investment users by providing an integrated service through the 'Investment Tab' V. Fee & Platform Biz (4/4) – Investment Platform Fund Balance and M/S(1) Note: (1) Korea Financial Investment Association – banking sector retail fund sales balance (quarter-end) (2) Quarterly average of MAU 0.3 1.0 1.4 1.7 1.8 0.6% 2.1% 2.9% 3.8% 4.2% 2Q25 3Q25 4Q25 1Q26 2Q26 KakaoBank fund balance Fund balance M/S Investment Tab boosts MAU(2) (Wtn) 4Q23 2Q24 4Q24 2Q25 4Q25 2Q26 Investment Tab launch Target-trigger fund launch MMF Box Launch IPO subscription information service launchFund sales commenced MAU 3.2x MMF Box Launch (Jun 2025)
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16 0.4 1.3 2.3 3.8 5.3 2Q25 3Q25 4Q25 1Q26 2Q26 VI. AI Native Bank AI Investment Search (Apr 2026 Launch) Conversational AI Service(2) users (mn persons) Bolstering the investment platform context by enhancing investment information search with KakaoBank AI; Conversational AI service users surpassed 5 million YoY 15x Note: (1) Average between Jun 1st ~ 27th, 2026 (2) Includes AI Search, AI Financial Calculator, AI Transfer, and CS Chatbot Investment-related utterances(1) portion c. 23% Integration with the Investment Tab
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17 SG&A increased +17% YoY due to higher IT expenses and D&A followed by the full-scale operation of data center VII. SG&A and CIR SG&A 69.1 72.8 47.7 71.0 75.6 14.7 16.0 17.3 18.7 22.1 3.6 3.6 3.6 3.4 3.4 4.5 7.6 11.9 5.2 5.7 17.2 16.7 16.9 19.2 23.3 21.9 22.3 25.5 21.3 23.8 131.0 139.0 122.9 138.8 153.9 2Q25 3Q25 4Q25 1Q26 2Q26 Labor Cost D&A Rent Advertisement IT Expense Others (Wbn) Cost to Income Ratio(CIR)(1) Number of Employees (persons) 1,552 1,662 1,806 1,843 2023 2024 2025 1H26 37.3% 36.4% 36.9% 34.2% 2023 2024 2025 1H26 (Cumulative)
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18 VIII. Operating Profit, ROE and ROA OperatingProfit (Wbn) 170.1 151.1 145.1 157.6 194.0 2Q25 3Q25 4Q25 1Q26 2Q26 ROE(1) ROA(1) 5.97% 6.92% 7.22% 9.95% 2023 2024 2025 1H26 0.72% 0.73% 0.68% 0.86% 2023 2024 2025 1H26 Operatingprofit expanded +14% YoY, thanks growth in net interest income and Fee & Platform revenue Note: (1) Basis of data calculation for Financial Supervisory Service submission
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19 IX. Asset Quality SBL & NPL RatioTotal Loans & Delinquency Rate Loan Loss Allowance & Coverage Ratio(1) 44.8 45.2 46.9 47.7 48.2 0.52% 0.53% 0.51% 0.51% 0.51% 2Q25 3Q25 4Q25 1Q26 2Q26 240.1 250.2 248.5 251.7 259.4 0.54% 0.55% 0.53% 0.53% 0.54% 2Q25 3Q25 4Q25 1Q26 2Q26 525.9 529.8 536.2 541.2 543.0 219% 212% 216% 215% 209% 2Q25 3Q25 4Q25 1Q26 2Q26 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 rate remained stable at 0.51%; Credit cost ratio declined -4bp QoQ to 0.51% Cumulative Provisioning & Credit Cost Ratio(2) 119.5 175.3 245.1 64.5 120.7 0.55% 0.53% 0.55% 0.55% 0.51% 0.51% 2Q25 3Q25 4Q25 1Q26 2Q26 CCR(YTD) Recurring CCR(YTD)(Wbn)
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20 X. Appendix(1/3) : Expansion into Capital Finance Business Signed a share purchase agreement (SPA) to acquire a 100% stake in MasternCapital in Jun 2026; Targeting loan coverage expansion by entering non-bank sector, including auto financing, leasing, corporate lending Capital Finance Market Size & Portfolio Auto finance (2) 15% Leases(3) 21% Loans(4) 47% Others(5) 17% Total Capital Finance Market Size(1) W249tn Acquisition Timeline Auto Finance SOHO & SME Loans Corporate & Investment Banking Expansion Plan Phase 1 Phase 2 Phase 3 Diversify and expand portfolio Expand loan customer coverage Secure a stable business foundation SPA Signing Acquisition Preparation FSC Approval Auto Finance Business Launch Jun 2026 Current Within 2026 Within 2027 • Currently underway with the preparations for the acquisition, including organizational structure, business planning, etc. • Targeting completion of FSC investment approval process within 2026 Note: (1) Total capital industry market size (Mar 2026) (2) New/used car and machinery installments, etc. (3) Prepaid lease, rental, etc. (4) Retail/corporate loans, factoring, call loans, etc. (5) Securities, new technology financing, etc. Phase 1 Phase 2 Phase 3
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21 • Discuss equity investment in M Bank • Conduct a credit scoring enhancement project for financial affiliates under MCS Group X. Appendix(2/3) : ESG & Global Published '2025 Sustainability Report' Signed Term Sheet for M Bank investment (Jul 2026) Published 2025 Sustainability Report and maintained the highest MSCI ESG rating(AAA(1)) for two consecutive years; Pursuing global business expansion with the target of signing equity investment agreement for M Bank within the year Key Details Investment Timeline Term Sheet Due diligence Agreement signing Jul 2026 3Q26 4Q26 W1.4tn Social value created in 2025 W0.7tn Financial support for inclusion initiatives in 2025 AI Native Bank Enhanced user convenience and stability through advanced AI technology Key Details Note: (1) MSCI ESG rating (Source: MSCI; as of Jul 30th, 2026)
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22 X. Appendix(3/3) : New Service Pipeline Final Payment Loans for New Homes (Sep 2026) ♦ Offers a differentiated customer experience with a 100% non-face-to- face loan product for newly built apartments Crypto Asset Home (4Q26) ♦ Provides a consolidated real-time views of crypto asset prices and holdings across major domestic exchanges Enhanced Services for Foreign Residents (4Q26) ♦ Provides multilingual services for core financial services–from account opening, overseas remittance, debit cards to AI services Real Estate-Secured Loan Refinancing for SOHO (4Q26) ♦ A refinancing product allowing SOHO customers to switch their existing loans from other banks to KakaoBankfor a lower rate Payment Product Pipeline (4Q26) ♦ NEW Card (Oct) : Features 3 customizable benefit packs users can select and change daily ♦ Foreign Residents Card (Oct) : tailored specifically to capture growing segments of non- Korean residents ♦ ForeignCurrency Card (Dec) : Offer zero foreign transaction fees, airport lounge access, and auto-currency exchange capabilities KakaoPay Securities Stock Trading Home (Sep 2026) ♦ Integrates KakaoPay Securities WTS within the KakaoBank app– fostering a proactive investment environment for domestic/ overseas stocks and ETFs–collecting ad revenue ￦
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23 (Wbn) 2Q26 2Q25 YoY 1Q26 QoQ Income Statement Operating Revenue 829.0 778.0 51.0 6.5% 819.3 9.7 1.2% Interest Revenue 690.4 604.1 86.3 14.3% 659.7 30.7 4.7% Fee & Commission Revenue 88.7 75.9 12.8 17.0% 80.8 7.9 9.7% Fee Revenue 63.4 52.1 11.3 21.9% 57.4 6.0 10.6% Platform Revenue 25.3 23.8 1.5 6.2% 23.4 1.9 7.8% Others 49.9 98.0 -48.1 -49.2% 78.8 -28.9 -36.7% Operating Expense 578.2 549.8 28.4 5.2% 597.1 -18.9 -3.2% Interest Expense 288.1 285.5 2.6 0.9% 286.2 1.9 0.7% Fee & Commission Expense 73.5 69.5 4.0 5.8% 70.9 2.6 3.7% Loan & Deposit related Expense(1) 6.3 6.9 -0.6 -8.9% 5.4 0.9 15.4% Fee & Platform Expense 52.5 47.1 5.4 11.5% 50.3 2.2 4.4% CD/ATM Expense 14.7 15.5 -0.8 -5.6% 15.2 -0.5 -3.2% SG&A 153.9 131.0 22.9 17.5% 138.8 15.1 11.0% Others 62.7 63.8 -1.1 -1.8% 101.2 -38.5 -38.2% Provision for Credit Losses on Financial Asset 56.8 58.1 -1.3 -2.2% 64.6 -7.8 -12.0% Operating Profit 194.0 170.1 23.9 14.0% 157.6 36.4 23.1% Non-operating Income 0.8 0.7 0.1 14.4% 93.8 -93.0 -99.2% Non-operating Expense 4.0 2.6 1.4 52.8% 0.7 3.3 452.7% Pre-tax Profit 190.8 168.2 22.6 13.2% 250.7 -59.9 -23.9% Net Profit 140.8 126.3 14.5 11.5% 187.3 -46.5 -24.9% % Operating Revenue 17.0% 16.2% 0.8%p 22.9% -5.9%p Note: (1) Mortgage loan related commissions, credit fund fee, commission related to debt recovery and delegation X. Appendix : Income Statement
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24 (Wbn) 2Q26 2Q25 YoY 1Q26 QoQ SG&A 153.9 131.0 22.9 17.5% 138.8 15.1 11.0% Labor Cost 75.6 69.1 6.5 9.4% 71.0 4.6 6.5% D&A 22.1 14.7 7.4 50.4% 18.7 3.4 18.0% IT Expense 23.3 17.2 6.1 35.4% 19.2 4.1 21.4% Rent 3.4 3.6 -0.2 -4.7% 3.4 0.0 0.5% Advertisement 5.7 4.5 1.2 25.4% 5.2 0.5 9.0% Others 23.8 21.9 1.9 9.0% 21.3 2.5 12.3% X. Appendix : SG&A
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25 (Wbn) 2026.06 2025.12 YTD 2025.06 YoY) Balance Sheet Total Assets 75,917.1 76,409.8 -0.6% 71,913.8 5.6% Cash & Cash Equivalent 2,116.2 2,113.4 0.1% 1,137.7 86.0% Financial Assets at FV through profit or loss 5,246.4 5,031.5 4.3% 8,512.1 -38.4% Financial Assets at FV through OCI 11,845.1 10,288.8 15.1% 8,682.2 36.4% Securities at amortized cost 5,846.6 5,364.4 9.0% 4,690.5 24.6% Loan 49,178.7 51,745.6 -5.0% 47,523.1 3.5% Tangible Assets 247.8 225.4 9.9% 194.0 27.7% Intangible Assets 89.7 45.3 98.0% 44.9 99.8% Other Assets 1,346.6 1,595.4 -15.6% 1,129.2 19.3% Total Liabilities 69,240.5 69,659.9 -0.6% 65,278.2 6.1% Deposit 67,109.9 68,323.6 -1.8% 63,668.5 5.4% Provision Liability 46.6 44.8 4.0% 62.9 -25.9% Other Liabilities 2,084.0 1,291.5 61.4% 1,546.8 34.7% Total Equity 6,676.6 6,749.9 -1.1% 6,540.1 2.1% Share Capital 2,385.6 2,385.1 0.0% 2,384.8 0.0% Capital Surplus 2,988.6 2,988.4 0.0% 2,988.2 0.0% Capital Adjustments -7.0 0.1 -7,100.0% 1.4 -600.0% AOCI -231.4 -55.7 315.4% 45.8 -605.2% Retained Earnings 1,540.8 1,432.0 7.6% 1,215.3 26.8% X. Appendix : Balance Sheet