Slides
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November 2026 KakaoBank 3Q 2026 Earnings Release
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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. 3Q26 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 Solid customer base expansion drove steady growth in net interest income and Fee & Commission income, increasing operating profit 26.70 27.94 2025 3Q26 (mn) +1.24mn (YTD) Customer Base 320.4 417.5 3Q25 3Q26 (Wbn) (YoY) +30% Net Interest Income 6.5 10.0 3Q25 3Q26 (Wbn) Fee � Commission Income (YoY) +54% (Wbn) 151.1 191.8 3Q25 3Q26 Operating Profit (YoY) +27% I. 3Q26 Highlights
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4 MAU, WAU(1) and Customers (mn) II. Customer Base 24.4 24.9 25.5 25.9 26.2 26.7 27.3 27.6 27.9 13.5 13.6 13.7 14.5 14.5 14.7 15.0 15.0 15.0 18.7 18.9 18.9 19.9 20.0 20.0 20.3 20.3 20.6 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 Customers WAU MAU 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 27.94mn (+1.24mn YTD) on rising penetration across all age groups; MAU rose driven by the launch of traffic-generating services in payment and investment sectors Penetration by Age Group(2) 27% 31% 82% 84% 86% 88% 77% 81% 58% 65% 18% 23% 3Q25 3Q26 60s~ 50s 40s 30s 20s ~10s
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5 614.3 636.3 659.7 690.4 739.6 54.1 52.7 57.4 63.4 64.4 23.6 26.6 23.4 25.3 22.4 72.7 43.4 78.8 49.9 54.5 764.7 759.0 819.3 829.0 880.9 3Q25 4Q25 1Q26 2Q26 3Q26 Interest revenue Fee revenue Platform revenue Others III. Operating Revenue Operating Revenue Key Components (3Q26) Platform RevenueFee Revenue Debit card 69% Firm banking, Open banking, FX remittance, etc. 31% 37% 28% 8% 27% Ads Loan comparison Brokerage account referral Credit card issuance platform, mini, etc. 83% 17% Gain on NPL sales Financial investments OthersInterest Revenue 79% 21% Loans 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 increased +15% YoY thanks to balanced growth from Interest and Fee & Platform revenues
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6 59.0% 57.1% 57.8% 56.7% 54.1% 39.0% 39.2% 39.6% 39.5% 36.9% 3Q25 4Q25 1Q26 2Q26 3Q26 KakaoBank Banking Industry(Wtn) Deposit balance surpassed W70tn, growing +9% YoY and +7% QoQ; Funding cost rose +16bp QoQ on higher market rates and a larger portion of savings deposits IV. Banking Biz : Deposit (1/3) 38.8 39.0 40.1 38.0 38.8 19.1 22.0 23.4 23.5 27.0 7.8 7.3 5.9 5.6 6.0 65.7 68.3 69.4 67.1 71.8 3Q25 4Q25 1Q26 2Q26 3Q26 Current deposits Time deposits Installment deposits 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) Based on KRW deposits. Financial Statistics Information System –Arithmetic average funding cost on KRW deposits of 4 majorbanks (KB, Shinhan, Hana and Woori) Funding Cost(3) 1.96% 1.86% 1.84% 1.82% 1.98% 3Q25 4Q25 1Q26 2Q26 3Q26 KakaoBank Quarterly 1.98% 1.83% 1.88% 2.23% 2.06% 2025 1H26 3Q26 KakaoBank(Cumulative) 4 Major Banks(Cumulative)
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7 Household deposit M/S expanded on strong deposit growth amid an industry-wide decline; Group Account users and balance both outpaced overall growth IV. Banking Biz : Deposit (2/3) 12.2 12.5 12.9 13.1 13.3 3Q25 4Q25 1Q26 2Q26 3Q26 (mn) 10.5 10.7 11.6 11.7 12.1 3Q25 4Q25 1Q26 2Q26 3Q26 (Wtn) Group Account Users Group Account Balance +14% YoY 999.7 997.3 998.2 972.6 961.0 6.5% 6.5% 6.6% 6.5% 6.8% 3Q25 4Q25 1Q26 2Q26 2026.8 Industry household deposits KakaoBank M/S +9% YoY Note: (1) KakaoBank household deposit balance / Household KRW deposit balance of deposit banks (KOSIS) (Wtn) Group Account Balance Household Deposit M/S among Korean Banks(1)
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8 Visibility Setting Location Radius Time Window Location & time based account access Accounts are visible only at customer-designated locations and times, enabling secure stash savings management Stealth Account (To be launched in Nov 2026) Introduce ‘Stealth Account’ to cater to private savings needs (Nov 2026); New signature product expected to strengthen the deposit franchise IV. Banking Biz : Deposit (3/3)
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9 IV. Banking Biz : Loan (1/2) Note: (1) Financial Statistics Information System – Average of 4 major banks (KB, Shinhan, Hana, Woori) Net Interest Margin(NIM)(1) SOHO Loan Balance TrendLoan Balance Trend & Breakdown (Wtn) 18.0 18.3 18.2 19.2 19.0 11.0 11.0 11.0 10.5 10.3 13.4 14.5 15.1 14.8 15.3 2.8 3.1 3.4 3.7 4.0 45.2 46.9 47.7 48.2 48.6 3Q25 4Q25 1Q26 2Q26 3Q26 Unsecured personal Housing deposit Mortgage SOHO 1.81% 1.94% 2.00% 2.13% 2.15% 3Q25 4Q25 1Q26 2Q26 3Q26 KakaoBank Quarterly 1.94% 2.07% 2.10% 1.56% 1.62% 2025 1H26 3Q26 KakaoBank(Cumulative) 4 Major Banks(Cumulative) Loans grew +7% YoY and +1% QoQ on stable growth, with SOHO loan balance surpassing W4tn; NIM rose +2bp QoQ as higher loan yields more than offset the rise in funding cost 2.8 3.1 3.4 3.7 4.0 3Q25 4Q25 1Q26 2Q26 3Q26 Loan balance +46% YoY
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10 IV. Banking Biz : Loan (2/2) Launched industry-first digital final payment mortgage loan in Sep 2026, expanding mortgage coverage to over 90%; Shifting the paradigm of final payment loans with easy and fast UI/UX Note: (1) Bank of Korea Financial Market Trend (Sep 2026) (2) Interim payment, relocation and Didimdol loans, etc. Mortgage Coverage ExpansionFinal Payment Mortgage Loan Process Mortgage Market W795tn(1) General mortgage 64% Bogeumjari 14% Final payment loan 13% Sep 2026 Launch Interim loans, etc.(2) 9% Coming soon in 2027 ✓ Maximize user convenience through a fully digital process from limit check to property registration ✓ Proactive customer acquisition by providing estimated limit & rate starting 8 weeks before move-in Select Site Check Limit Get Loan
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11 16.0 15.7 17.6 17.5 18.6 3.4 2.7 3.2 3.0 3.1 5.6 7.1 6.6 2.4 7.5 0.7 1.0 0.6 0.5 0.5 25.7 26.5 28.0 23.4 29.7 3Q25 4Q25 1Q26 2Q26 3Q26 Bond Fund Short-term investment 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 +19% QoQ, driven by higher bond interest amid rising market rates and valuation gains on funds 179.9 143.0 152.5 169.5 202.5 3Q25 4Q25 1Q26 2Q26 3Q26
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12 V. Fee & Platform Biz (1/3) – Loan & Ad Platform Loan comparison platform continued to grow with execution volume up +14% YoY, along with partner expansion; Ad revenue rose +49% YoY on traffic growth and expanded ad inventory Loan Comparison Service (Wbn) +14% YoY Note: (1) Unsecured loan and mortgage partners 1,224 1,395 3Q25 3Q26 Execution Volume 68 72 3Q25 3Q26 +4 partners Partners(1) Ad Platform Growth via Expanded Inventory & Traffic 3Q25 3Q26 3Q25 3Q26 +24% YoY +49% YoY Ad Traffic Ad Revenue (#)
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13 V. Fee & Platform Biz (2/3) – Payment Debit Card Transaction Volume Normalized(1) debit card transaction volume increased +7% YoY; Expanding payment business influence with a stronger debit card lineup (Wtn) 6.2 6.3 3Q25 3Q26 Payment Services (Aug 2026) New Card Lineup Expansion <The Debit Card> • Selectable benefits that customers can choose and change daily, tailored to their spending patterns <Foreign Residents Debit Card> • Debit card linked to the Foreigner Account, enhancing spending convenience for foreign residents <Travel Debit Card> • Travel card using foreign currency in the FX Account, with no exchange, card usage or ATM withdrawal fees Oct 2026 Dec 2026 Note: (1)Normalized for effect of ‘People’s Livelihood Recovery Consumption Coupon’ in 3Q25: W386.3bn <Payment Home> Unified payment view <Payment Rewards> Random cashback Jul 0.29mn → Sep 0.71mn DAU 2.5x post -launch +7% YoY Acquire new customers and captureT&E while expanding transaction volume Excl. one-off factors Payment Home Payment Rewards The Debit Card Foreign Residents Debit Card Travel Debit Card
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14 Fund balance M/S continued to expand on differentiated digital convenience; Added ‘EquitiesHome’ to the ‘Investment Tab’ for a seamless and more convenient investment journey V. Fee & Platform Biz (3/3) – Investment Platform Fund Balance and M/S(1) Note: (1) Korea Financial Investment Association – banking sector retail public fund sales balance (end-Sep) (2) Based on 2Q26 KakaoPaySecurities MAU 0.3 1.0 1.4 1.7 1.8 1.9 0.6% 2.1% 2.9% 3.8% 4.2% 4.4% 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 KakaoBank fund balance Fund balance M/S Equities Home with KakaoPay Securities (Sep 2026) (Wtn) MMF Box Launch (Jun 2025) ✓ Brokerage accounts surpassed 110k as of Oct 2026 ✓ 15% share of KakaoPay Securities new accounts created via KakaoBank application
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15 1.3 2.3 3.8 5.3 6.2 3Q25 4Q25 1Q26 2Q26 3Q26 VI. AI Native Bank Conversational AI Service(1) Users AI Feature & Usability Upgrades (mn) Strengthening the foundation as an AI-powered future financial platform through feature enhancements, new service launches, and deepened personalization strategies +374% YoY Note: (1) Includes AI Search, AI Financial Calculator, AI Transfer, and CS Chatbot 3Q26 • Added voice mode to KakaoBank AI • Image recognition for AI Transfer • Revamped AI Group Treasurer service 4Q26 • Deposit Launch of AI Goal Savings (Oct) • Card Launch of AI Spending Analysis (Dec) • Personalization Personalized AI Tab & AI Talk (Dec) AI Goal Saving (Oct 2026)
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16 SG&A increased +21% YoY due to a temporary rise in labor cost and higher IT expenses and D&A from the full-scale operation of data center VII. SG&A and CIR SG&A 72.8 47.7 71.0 75.6 81.8 16.0 17.3 18.7 22.1 23.5 3.6 3.6 3.4 3.4 3.5 7.6 11.9 5.2 5.7 6.1 16.7 16.9 19.2 23.3 26.3 22.3 25.5 21.3 23.8 27.3 139.0 122.9 138.8 153.9 168.5 3Q25 4Q25 1Q26 2Q26 3Q26 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 1,877 2023 2024 2025 '26.09 37.3% 36.4% 36.9% 35.8% 2023 2024 2025 3Q26 Note: (1) Cumulative basis
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17 VIII. Operating Profit, ROE and ROA Operating Profit (Wbn) 151.1 145.1 157.6 194.0 191.8 3Q25 4Q25 1Q26 2Q26 3Q26 ROE(1) ROA(1) 5.97% 6.92% 7.22% 9.40% 2023 2024 2025 '26.09 0.72% 0.73% 0.68% 0.81% 2023 2024 2025 '26.09 Operating profit grew +27% YoY owing to profitgrowth across all segments, including banking, Fee & Platform and treasury management Note: (1) Basis of data calculation for Financial Supervisory Service submission
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18 IX. Asset Quality SBL & NPL RatioTotal Loans & Delinquency Rate Loan Loss Allowance & Coverage Ratio(1) 45.2 46.9 47.7 48.2 48.6 0.53% 0.51% 0.51% 0.51% 0.49% 3Q25 4Q25 1Q26 2Q26 3Q26 250.2 248.5 251.7 259.4 259.3 0.55% 0.53% 0.53% 0.54% 0.53% 3Q25 4Q25 1Q26 2Q26 3Q26 529.8 536.2 541.2 543.0 554.6 212% 216% 215% 209% 214% 3Q25 4Q25 1Q26 2Q26 3Q26 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 fell -2bp QoQ on a higher portion of secured loans and improved SOHO delinquency; Cumulative credit cost ratio rose +3bp QoQ due to expanded SOHO lending Cumulative Provisioning & Credit Cost Ratio(2) 175.3 245.1 64.5 120.7 195.0 0.53% 0.55% 0.55% 0.51% 0.54% 3Q25 4Q25 1Q26 2Q26 3Q26 (Wbn)
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19 X. Appendix : Services for Foreign Residents Launched a foreignerservice in Oct 2026; Aim to deliver financial services comparable to those available to Korean nationals, starting with 2.3mn(1) long-term foreign residents Note: (1) Source: Ministry of Justice, long-term foreign resident statistics (Sep 2026) AI Auto-Translation ServiceConvenient Account Opening Process Vietnamese Chinese English ✓ Easy verification with various IDs incl. mobile ID, driver’s license, residence card ✓ Automated KYC process based on Public MyData ✓ 3 languages at launch, expanding to 7 by 2027 ✓ AI auto-translation for easy use by foreigners Quick and easy account opening within 5 minutes via Chat UI
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20 F&P Customers MAU 27.94mn (+1%, +6%) 20.57mn (+1%, +3%) F&P Revenue W86.8bn (-2%, +12%) Banking Deposits Loans W71.8tn (+7%, +9%) W48.6tn (+1%, +7%) NIM 2.15% (+2bp, +34bp) Business Key Metrics Results (QoQ, YoY) Key Highlights Operating profit expanded +27% YoY on differentiated deposit growth, NIM improvement and stronger platform dominance ■ Deposits +7% QoQ, outperforming the banking industry (-0.3% QoQ)(1) ■ Loan growth led by mortgage and SOHO ■ 3Q NIM +2bp QoQ as higher loan yields outpaced the rise in funding cost Pre-provision Operating Profit (PPOP) W264.7bn (+6%, +28%) Operating Profit W191.8bn (-1%, +27%) ■ No.1 banking app by MAU, widening the gap with No.2 ■ 16% share of retail account transfers; evolving into the most frequently used app ■ Normalized(2) debitcard transaction volume +7% YoY Note: (1) Bank of Korea Financial Market Trend –Sum of bank money market deposit and time deposit balances (2) Normalized for effect of ‘People’s Livelihood Recovery Consumption Coupon’ in 3Q25: W386.3bn ■ Operating profit +27% YoY, with growth across NII, Fee & Platform and treasury X. Appendix : 3Q26 Key Metrics
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21 (Wbn) 3Q26 3Q25 YoY 2Q26 QoQ Income Statement Operating Revenue 880.9 764.7 116.2 15.2% 829.0 51.9 6.3% Interest Revenue 739.6 614.3 125.3 20.4% 690.4 49.2 7.1% Fee & Commission Revenue 86.8 77.7 9.1 11.7% 88.7 -1.9 -2.1% Fee Revenue 64.4 54.1 10.3 19.0% 63.4 1.0 1.6% Platform Revenue 22.4 23.6 -1.2 -4.9% 25.3 -2.9 -11.3% Others 54.5 72.7 -18.2 -25.1% 49.9 4.6 9.2% Operating Expense 616.2 557.9 58.4 10.5% 578.2 38.1 6.6% Interest Expense 322.1 293.9 28.2 9.6% 288.1 34.0 11.8% Fee & Commission Expense 76.9 71.4 5.5 7.9% 73.6 3.3 4.4% Loan & Deposit related Expense(1) 9.2 7.1 2.1 29.9% 6.3 2.9 47.2% Fee & Platform Expense 53.4 49.8 3.6 7.4% 52.6 0.8 1.4% CD/ATM Expense 14.3 14.5 -0.2 -1.5% 14.7 -0.4 -2.8% SG&A 168.5 139.0 29.5 21.2% 153.9 14.6 9.5% Others 48.7 53.7 -5.0 -9.2% 62.6 -13.8 -22.1% Provision for Credit Losses on Financial Asset 72.9 55.7 17.2 30.9% 56.8 16.0 28.2% Operating Profit 191.8 151.1 40.7 26.9% 194.0 -2.2 -1.1% Non-operating Income 0.9 0.9 0.0 1.8% 0.8 0.1 10.3% Non-operating Expense 1.1 4.0 -2.9 -72.5% 4.0 -2.9 -72.3% Pre-tax Profit 191.6 148.0 43.6 29.5% 190.8 0.8 0.4% Net Profit 141.7 111.4 30.3 27.2% 140.8 1.0 0.7% % Operating Revenue 16.1% 14.6% 1.5%p 17.0% -0.9%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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22 (Wbn) 3Q26 3Q25 YoY 2Q26 QoQ SG&A 168.5 139.0 29.5 21.2% 153.9 14.6 9.5% Labor Cost 81.8 72.8 9.0 12.3% 75.6 6.1 8.1% D&A 23.5 16.0 7.4 46.5% 22.1 1.4 6.2% IT Expense 26.3 16.7 9.6 57.3% 23.3 3.0 13.1% Rent 3.5 3.6 -0.1 -3.4% 3.4 0.0 1.1% Advertisement 6.1 7.6 -1.4 -18.8% 5.7 0.5 8.7% Others 27.3 22.3 5.0 22.6% 23.9 3.4 14.7% X. Appendix : SG&A
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23 (Wbn) 2026.09 2025.12 YTD 2025.09 YoY Balance Sheet Total Assets 80,323.8 76,409.8 5.1% 73,988.0 8.6% Cash & Cash Equivalent 624.4 2,113.4 -70.5% 1,749.8 -64.3% Financial Assets at FV through profit or loss 6,203.9 5,031.5 23.3% 7,722.8 -19.7% Financial Assets at FV through OCI 13,125.4 10,288.8 27.6% 10,551.5 24.4% Securities at amortized cost 5,569.8 5,364.4 3.8% 5,417.6 2.8% Loan 53,351.7 51,745.6 3.1% 46,699.0 14.2% Tangible Assets 257.6 225.4 14.3% 194.8 32.2% Intangible Assets 84.2 45.3 85.9% 43.9 91.8% Other Assets 1,106.8 1,595.4 -30.6% 1,608.6 -31.2% Total Liabilities 73,569.5 69,659.9 5.6% 67,273.0 9.4% Deposit 71,805.4 68,323.6 5.1% 65,742.5 9.2% Provision Liability 49.1 44.8 9.6% 65.1 -24.6% Other Liabilities 1,715.0 1,291.5 32.8% 1,465.4 17.0% Total Equity 6,754.3 6,749.9 0.1% 6,715.0 0.6% Share Capital 2,385.6 2,385.1 0.0% 2,385.0 0.0% Capital Surplus 2,988.5 2,988.4 0.0% 2,988.2 0.0% Capital Adjustments -7.0 0.1 -7,100.0% 0.5 -1,500.0% AOCI -295.4 -55.7 430.3% 14.6 -2,123.3% Retained Earnings 1,682.6 1,432.0 17.5% 1,326.7 26.8% X. Appendix : Balance Sheet