Slides
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2026Q2 Earnings Release
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Disclaimer 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 Pay and its subsidiaries (the “Company”, or “Kakao Pay”) contained in this document are subject to change upon an independent auditor’s review. 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 Pay 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 regard 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. 2
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Table of Contents 4 6 7 8 9 11 17 18 19 Executive Summary 1. Total Payment Volume(TPV) 2. Revenue 3. Operating Expenses 4. Profit and Loss 5. Business Performance 6. ESG Appendix User Engagement Financial Statements 3
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Revenue TPV (Unit : Tril. KRW) TPV Note1) EBITDA calculated as revenue less operation expenses excluding depreciation and amortization expenses, except for depreciation for leased assets Net Income, EBITDA1) (Unit: Bil. KRW)(Unit : Bil. KRW) Digital FinanceDigital Payment Platform Services TPV REVENUE 4 Net Income EBITDAEBITDA TPV REVENUE EARNING Executive Summary 2Q 2026 Financial Performance Highlights 2Q TPV achieved 54.2 Tril. KRW, +20% YoY, maintained solid top-line growth trajectory Revenue TPV recorded 15.7 Tril. KRW, up +19% YoY 2Q Revenue reached a record high of 335.1 Bil. KRW, +41% YoY All services sustained double-digit YoY growth for 3 consecutive quarters Digital Finance revenue surged +75% YoY, confirming diversified business structure by taking up 52% revenue share 2Q Operating Profit reached a record high of 58.6 Bil. KRW EBITDA of 67.5 Bil. KRW and Net Income of 49.6 Bil. KRW, showing enhanced earnings capacity Achieved Operating Margin 17.5%, Net Margin 14.8%, steady step-up growth following both metrics' entry into double-digit territory in the prior quarter +41% 238 45.0 54.2 13.2 15.7 2Q25 2Q26 +20% +19% 335 14 50 17 67 2Q25 2Q26 +251% +287% 2Q25 2Q26
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ARPU4) (Unit : KRW) Executive Summary 2Q 2026 Business1) Performance Note1) Notice of Business Performance metrics (from 2025) All user actions (all transactions involving monetary flow and requests for Kakao Pay services in Kakao Pay channels) are included in user traffic. This definition is distinct from UV, which simply refers to user visits. Note2) DAU : Daily Active User, MAU : Monthly Active User Note3) ATPU : Average Transaction Per User, Calculated by dividing the total number of transactions in the quarter by the quarter's last month MAU Note4) ARPU : Average Revenue Per User, calculated by dividing quarterly consolidated revenue by the quarter's last month MAU 5 DAU ATPU ARPU DAU of 7.0 Mil, +9% YoY, representing 29.0% of total MAU Continued acceleration in daily life penetration of core services including online·offline payments ATPU reached 87, up +26% YoY Increased engagement density driven by cross-usage of securities, payment, and benefits services ARPU reached 13,979 KRW, rising +39% YoY Expanded per-user revenue contribution backed by balanced growth across all services ATPU3) (Unit: No. of Transactions) 10,075 13,979 2Q25 2Q26 26.9% 29.0% (Unit : Mil. Users) DAU2) +9% +2.1%p 6.4 7.0 2Q25 2Q26 69 87 2Q25 2Q26 +26% +39%
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• 2Q TPV achieved 54.2 Tril. KRW, up +20% YoY • Revenue TPV recorded 15.7 Tril. KRW, increased +19% YoY Secured 29% of total TPV, driving both qualitative and quantitative growth • Digital Payment and Money Transfer TPV solidified double-digit YoY growth trend Digital Payment increased +25% YoY, with robust growth across all services ㆍ Online Payment +16% YoY, expanded Non -captive growth by data-driven merchant marketing and enhanced seasonal promotions ㆍ Offline Payment +58% YoY, continued growth from increased use of “Public Relief Consumption Coupon” and expanded benefit programs like Good Deal ㆍ Overseas Payment +21% YoY, driven by rising domestic inbound travel demand and expanded promotions with strategic overseas merchants 1. Total Payment Volume(TPV1)) (Unit: Tril. KRW) TPV Revenue TPV Total TPV Note 1) Quarterly TPV (Total Payment Volume) is total transaction amount incurred in a quarter in all service areas Note 2) MTS TPV excluded from Financial TPV 6 1 62 3 4 5 7 • Kakao Pay Money Balance recorded 2.8 Tril. KRW Loan Services grew QoQ for a third consecutive quarter, driven by expanded policy-based products and targeted marketing for high -engagement users Stock Trading Volume²⁾ surged +497% YoY, 140 Tril. KRW, recorded all-time quarterly high ． ． Money Transfer +21% YoY, driven by 'Money Transfer to My Account’ growth from rise in stock trading 45 47 49 51 54 2Q25 3Q25 4Q25 1Q26 2Q26 +3% +2% +5% +5% +6% QoQ +20% YoY 29% 29% 29% 29% 29%
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2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 • 2Q Revenue achieved 335.1 Bil. KRW, up +41% YoY 2. Revenue Digital Finance Platform Services (Unit : Bil. KRW) Revenue Breakdown Quarterly Revenue Growth Total Revenue Digital Payment Digital Payment +13% YoY, driven by balanced growth across Online, Offline, and Overseas Digital Finance +75% YoY, driven by strong revenue growth in Securities and Insurance ㆍ Securities +99% YoY, on rising domestic and overseas stock trading volume, a major contributor to overall growth ㆍ Insurance +86% YoY, backed by solid demand for core·new lineups and expanded DB sales ㆍ Loan sustained QoQ growth for a third consecutive quarter, with credit loans rising via product diversification and refined targeted marketing Platform Services revenue increased +44% YoY, driven by high growth in Display Ads and telecom brokerage revenue 7 • Continued top-line growth with double-digit YoY increases across all services • Digital Finance accounted for 52% of total revenue, from steep growth in Securities and Insurance (Unit: Mil. KRW) 2Q25 3Q25 4Q25 1Q26 2Q26 YoY QoQ Revenue 238,289 238,350 269,828 300,286 335,079 40.6% 11.6% Digital Payment 125,121 129,710 141,103 138,420 141,373 13.0% 2.1% Digital Finance 100,310 94,662 112,823 145,888 175,205 74.7% 20.1% Platform Services1) 12,858 13,978 15,902 15,978 18,500 43.9% 15.8% Note1) The previous 'Other Services' category has been renamed to 'Platform Services', which encompass services such as advertising, card recommendation, and telecommunication brokerage 1 62 3 4 5 7 Digital FinanceDigital Payment Platform Services 0% 9% -6% 4% 12% 20% 16% 2% 13% 14% 19% 9% 11% 0% 29% -2% 12% 35% 25% 2% 238 46% 49% 5% 53% 42% 5% 238 270 54% 40% 6% 300 52% 42% 6% 335 42% 52% 6%
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• 2Q Operating Expenses of 276.5 Bil. KRW, +21% YoY, +3% QoQ 3. Operating Expenses Note1) Additional charges incurred due to the exercise of stock options 8 (Unit : Mil. KRW) 2Q25 3Q25 4Q25 1Q26 2Q26 YoY QoQ Operating Exp. 228,961 222,549 249,001 268,042 276,476 20.8% 3.1% Commission 96,885 98,427 96,994 104,967 113,945 17.6% 8.6% Labor Cost 63,465 66,347 71,814 70,881 68,557 8.0% -3.3% Stock Compensation Expences1) 2,500 -275 866 1,578 -281 -111.2% -117.8% Marketing Exp 20,654 24,290 31,733 22,387 27,419 32.8% 22.5% Dep. & Amort. 12,133 12,498 12,699 12,910 13,308 9.7% 3.1% Rent Expense 1,484 1,501 1,568 1,738 1,900 28.0% 9.3% Other 34,339 19,487 34,192 55,158 51,347 49.5% -6.9% Marketing Expenses increased +33% YoY via enhanced online and offline partnership marketing, with 8% of total revenue by maintaining performance-based marketing resource allocations Labor Cost rose +8% YoY on investment in key talent, but decreased 3% QoQ through efficient workforce management Commission rose +18% YoY, impacted by expanded infrastructure costs However, Commission's share of total revenue gradually declined, establishing a profit-oriented cost structure Other Operating Expenses +50% YoY, but decreased QoQ on a high base from prior-quarter derivative and FX-related costs from financial subsidiaries 1 62 3 4 5 7
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Operating Profit and Net Profit 4. Profit and Loss (Unit : Bil. KRW) EBITDA• 2Q Operating Profit 58.6 Bil. KRW, a record high consolidated operating profit Achieved Operating Profit Margin of 17.5%, QoQ 6.8%p, continuing quarterly trend of profitability improvement • EBITDA 67.5 Bil. KRW with an EBITDA Margin of 20.1% Net Income 49.6 Bil. KRW with a Net Income Margin of 14.8% • Driven by growth at the parent and financial subsidiaries alongside operational efficiency synergies, all metrics including Operating Profit, EBITDA, and Net Income showed robust growth and remained solidly double-digit, cementing a structure built on qualitative growth 9 Note1) Reflected a one-off fine of approximately 13 Bil. KRW within non-operating other expenses in 4Q 2025. Note2) Adjusted EBITDA is calculated by excluding one-off expenses such as stock-based compensation and the increase in four major social insurance premiums resulting from the exercise of stock options. Net Profit1)Operating Profit Operating Profit Margin Adjusted EBITDA2) EBITDA EBITDA Margin Net Profit Margin (Unit: Mil. KRW) 2Q25 3Q25 4Q25 1Q26 2Q26 YoY QoQ Operating Profit 9,328 15,801 20,826 32,244 58,603 528.2% 81.7% OPM 3.9% 6.6% 7.7% 10.7% 17.5% 13.6%p 6.8%p Net Profit 14,120 19,149 8,053 34,700 49,596 251.3% 42.9% EBITDA 17,448 24,122 29,260 40,803 67,483 286.8% 65.4% 1 62 3 4 5 7 (Unit : Bil. KRW) 7.3% 10.1% 10.8% 13.6% 20.1% 9 16 21 32 59 14 19 8 35 50 2Q25 3Q25 4Q25 1Q26 2Q26 17 24 29 41 67 20 24 30 43 67 2Q25 3Q25 4Q25 1Q26 2Q26 5.9% 8.0% 3.0% 11.6% 14.8% 3.9% 6.6% 7.7% 10.7% 17.5%
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• 2Q Separate Revenue recorded 196.8 Bil. KRW, up +18% YoY • 2Q Separate Operating Profit reached 26.0 Bil. KRW, up +83% YoY Secured stable double-digit profitability with an Operating Profit Margin of 13.2% • Separate Net Profit recorded 21.1 Bil. KRW, with Net Profit Margin 10.7% 4. Profit and Loss [Reference] Separate Revenue and Profit (Parent) (Unit : Bil. KRW) Revenue (Parent) (Unit : Bil. KRW) Operating Profit and Net Profit (Parent) 10 1 62 3 4 5 7 Note1) One-off fine of approx. 13.0 Bil. KRW recognized in Other non-operating expenses in 4Q 2025 Note2) Impairment loss on held intangible assets recognized in Other non-operating expenses in 2Q 2026 Net ProfitOperating Profit Operating Profit Margin Net Profit Margin +2% +4% +18% YoY +9% 167 171 186 185 197 2Q25 3Q25 4Q25 1Q26 2Q26 -1% +6% QoQ 14 10 19 19 26 21 16 9 23 21 2Q25 3Q25 4Q25 1Q26 2Q26 8.5% 5.6% 10.3% 10.0% 13.2% 12.4% 9.1% 4.6% 12.4% 10.7% 1) 2)
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5. Business Performance 1) Online Payment Data-Driven Cross-Usage Across Online·Offline and Overseas Driving Qualitative TPV Growth 1 62 3 4 5 7 11 Non-Captive-Centered Top-line Growth Acceleration • Non-Captive revenue grew 22% YoY, expanding its share of Online Payment to 65%, driving overall Online Payment revenue growth (+11% YoY) • Advanced Pay·MyData-based targeting strengthens integrated domestic/overseas strategic merchant marketing Online Payment Revenue (Captive & Non-Captive) 2Q25 2Q26 YoY +11% YoY +22% Non-Captive Share 60% 65% Captive Non-Captive Online Payment Offline Payment Overseas Payment Pay Ecosystem 1 5+2 3 4 1.0 7.1x 1.5 2.0 2.8 Assets Benefits Money Transfer Dual Payment Finance Building a Virtuous Ecosystem Cycle through Expanded Payment Cross-Usage • Activated cross-usage across Online, Offline, and Overseas channels, driving a virtuous cycle and TPV/revenue growth in the Pay ecosystem • Increased user retention through advanced conversion prediction models, incl. refined offline offers linked to online payment context Maximizing User Lock-in via Expanded Cross-Service Usage Experience • Pursuing a cross-usage strategy through linked promotions across core services incl. Payment, Assets, Finance, and Benefits • Users cross-using more than 5 services monthly saw next-month churn under 1% and payment amount per user reaching 7.1x (vs. single-service users) Cross-Service Loop → Expanding Cross-Usage Across Services Payment Amount per User by No. of Cross-Used Services (use of 1 service = 1.0x)1) Note) Among customers who consented to receive marketing information (as of 2Q26) No. of Services
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'25.2Q '26.1Q '26.2Q 12 1 62 3 4 5 7 5. Business Performance 2) Offline Payment Monthly Payment Users Surpassed 6 Million Constant Offline User Growth from Stronger Service Competitiveness andBigger Benefits • Improved payment convenience and user experience drove both payment frequency and retention • Expanded user base through broader daily payment touchpoints and maximized perceived benefits Surpassing 6 Mil monthly payment users • Based on user influx in 2Q, monthly transaction volume trended upward, reaching 150 Mil. cases cumulative for the quarter 6 Mil. Users '25.2Q '26.1Q '26.2Q '25.2Q '26.1Q '26.2Q Good Deal Launch (1Q) PC Cafe Auto-payment Alliance Table Order Launch/ Expanded Viral Program e.g. 99 Challenge, Time Attack Good Deal Growth Campaign / Programs Targeting Teens·20s 400K 3 Mil. Monthly Good Deal Users Monthly Benefit-Experienced Users Monthly Payment Users & Transaction Volume Key Benefit Programs & Events 150 Mil. QoQ +24% YoY +31% QoQ +11% YoY +21% Note) Good Deal users and benefit-experienced users are based on the peak month within the quarterNote) Offline payment users are based on the last month of each quarter Strengthened Customer Benefit Experience via Expanded Benefit Programs in 2Q • Expanded benefit portfolio including Good Deal, ongoing benefits, and brand promotions • Good Deal reached 400K monthly users, establishing itself as the flagship offline payment benefit program through highly perceived benefits • About 3 Mil. users experienced benefits monthly, serving as a key driver of offline payment usage • In 2Q as well, new user acquisition accelerated through Teens·20s -focused promotions like 'Good Deal Teens' and expanded daily -life merchant partnerships Benefit Programs (Reference) QoQ +24% YoY +65%QoQ +72% YoY +226% Offline Transaction Volume Offline Payment Users
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Jan, 26 Feb Mar Apr May June Dec 13 1 62 3 4 5 7 5. Business Performance 3) Loan Expansion of Kakao Pay Score Adoption and Advancing the Model Expanding Partner Institutions through Proven Score Model Performance • Differentiated alternative credit scoring model leveraging non -financial and social data alongside info from over 22 Mil. MyData subscribers • Signed with 12 institutions as of 2Q26 since 3Q25 launch; targeting +20 by end of 2026 • Widely used from loan underwriting at major banks, card companies, and savings banks to guarantee screening at Korea Housing Finance Corporation Platform Synergy through Model Advancement and Segmentation • Expanded Institutions through continued development & refinement of new evaluation criteria • Segmented models by Thin-Filer target group, including small merchants and low/mid-credit borrowers, to meet diverse institutional needs • Created internal Kakao Pay service synergy and built a user lock -in virtuous cycle Kakao Pay Service Synergy and User Lock-in Model Advancement Leveraging auto- transfer/telecom/ micropayment/ consumption/bill data 1 Kakao Pay Score Advancement Strategy2026 Monthly Partner Institution Adoption Trend (Cumulative) Model Segmentation Thin-Filer segments incl. small merchants/ low-mid credit/ MZ generation/foreigners 2 Platform Service Differentiation Distinguished services incl. Kakao Pay Score- linked services dedicated for loan products 3 12 20 (E)
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5. Business Performance 4) Kakao Pay Securities Active Domestic & Overseas Stock Trading and Profit-Oriented Top-Line Growth 14 Kakao Pay Securities 2Q Revenue 121.9 Bil. KRW, Operating Profit 39.6 Bil. KRW • Quarterly revenue reached 121.9 Bil. KRW on expanded product lineup and favorable domestic/overseas markets (continued QoQ, YoY growth) • Strengthened foundation for retail business from user growth due to solid domestic/overseas trading growth • Operating leverage from revenue growth expanded profit; 1H (63.1 Bil. KRW) tops 2025 total Kakao Pay Securities AUM Reached 21 Tril. KRW, Growing +279% YoY • Stock and pension assets surged +391% YoY, driven by buoyant domestic/overseas markets and expanded use of securities services • Built solid fundamentals via both stock price gains and sustained real net inflows of user funds • 2Q net inflows recorded 4.8 Tril. KRW, marking 6 consecutive QoQ growth; 1H cumulative net inflows reached 8.5 Tril. KRW Fund DepositStock 1 62 3 4 5 7 Quarterly Trading Volume & MAU Quarterly Trading Transaction Quarterly Revenue & Operating Profit Trend Domestic Overseas Domestic Overseas Revenue1) Operating Profit (Unit : Bil. KRW) '25.06 '25.09 '25.12 '26.03 '26.06 YoY +279% 15 Tril. KRW 10 Tril. KRW 20 Tril. KRW 21.1 Tril. KRW YoY +391% 18.0 Tril. KRW 5.6 Tril. KRW 5 Tril. KRW 66 122 5 40 2Q25 2Q26 YoY +86% YoY +655% 2Q25 2Q26 YoY +191% 266 Mil. 91 Mil. 2Q25 2Q26 23.5 Tril. KRW 813K 1.6 Mil. YoY +497% 139.9 Tril. KRW YoY +98% Note1) Includes 17.2 Bil. KRW in revenue from FX transactions and derivatives due to increased exchange rate volatility
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5. Business Performance 4) Kakao Pay Securities Strengthening Customer Engagement and New Business Expansion 15 1 62 3 4 5 7 Expanding Business Scope with an Investment Trading License • Expanding beyond brokerage into direct underwriting·dealing·sales, building the foundation for a full-service securities firm, with a goal of expanding IB-Retail synergy All-time High Active User Conversion Rate, Reflecting a Refined Acquisition Funnel • Growth driven by cumulative experimentation rather than one -off events, built on proprietary feature development and data internalization securing a solid competitive edge • Active User conversion rate continued to improve YoY significantly (June conversion rate +20%p YoY) 6% Launched Dedicated KakaoTalk Channel, Surpassing 1 Mil. Friends (Most touchpoints in the industry) • Ranking No.1 (300K+ ahead of No.2) • Always-on channel for investment news and benefits directly to customers '25.01 '25.06 '26.01 '26.06 Over 30% Active User (users directly contributing revenue via general stock trading) = core driver of Securities revenue [Short Term] Capturing IB Opportunities and Market Entry • Entering IPO lead management, underwriting syndicate participation, and corporate sales [Mid-long Term] Diversification and Maximizing Synergy • Strengthening retail synergy through new domestic·overseas Sales & Trading business expansion
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Mar Apr May Jun 5. Business Performance 5) Kakao Pay Insurance Securing Growth Drivers by Channels and Sustained Growth from Product Competitiveness 16 Continued Revenue Improvement via both Quantitative and Qualitative Growth • 2Q26 Revenue reached 25.6 Bil. KRW (+104% YoY, +6% QoQ), • Revenue growth impacted by higher per -policy premiums from B2C product revisions and expanded B2B2C partners and products Strengthened Fundamentals via New Product Sales and Rising Regular Premiums • Pet Insurance reached 10K cumulative policies in the industry's fastest time, backed by industry-leading coverage • Sustained Phone Insurance sales on new phone model launches • Portfolio diversification from rise in regular-premium policies eased seasonal volatility and improved earnings stability 1 62 3 4 5 7 2Q25 2Q26 7.5 Bil. KRW 3.2 Bil. KRW YoY +134% Note1) Based on B2C regular premium products Health Insurance Launch Direct Monthly /Jeonse Launch, Added Index-based Departure Delay coverage Pet Insurance Launch Added Premium Plan for Overseas Travel Product Launch & Advancement Quarterly Gross Premiums Written Quarterly Regular Premiums1) Quarterly Revenue Trend 12.5 Bil. KRW 16.7 Bil. KRW 19.8 Bil. KRW 24.3 Bil. KRW 25.6 Bil. KRW 2Q25 3Q25 4Q25 1Q26 2Q26 YoY +104% QoQ +6% YoY +66% 15.6 Bil. KRW 25.9 Bil. KRW 2Q25 2Q26Added/revised Elementary-Middle School Student Insurance, launched Phone Insurance trial Pet Insurance Daily Average New Policies by Month
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6. ESG 17 1 62 3 4 5 7 Environmental & Shared Growth Initiatives Renewed ISO14001 (Environmental Management System) Certification Externally re-verified its environmental management system, operated for 3 years since first certification in 2023 Continued demonstration of international -level environmental management capabilities Commendation from “Deputy Prime Minister and Minister of Science and ICT” for Closing the Senior Digital Divide Received government commendation at the “38th Information Culture Month Ceremony” for improving seniors' digital finance accessibility and usability with 'Blind Spot Pay School Senior Class’ Launched 'Blind Spot Supporters,' a Youth Digital Finance Leader Program MOU with FYF Foundation in April, raising 1.5 Bil. KRW for the Youth Digital Finance Leader Fund Supports 100 youths annually, linked to Kakao Pay's inclusive finance activities incl. multicultural youth education and small merchant digital transformation External Achievements Published AI & Human Dual-Readable 2025 ESG Report Disclosed AI-driven transformation across work methods and business processes Designed data for both humans and AI, reflecting investors' AI -based data collection trends ESG achievements across all areas: 21% renewable energy transition, excellent Work -Life Balance company, ongoing CEO succession planning Included in FTSE Sustainability Index Included in the FTSE Russell index, co -founded by the Financial Times and London Stock Exchange Outperformed industry average in climate change, human rights, labor standards, anti -corruption, and risk management Achieved global leading ESG management through inclusion in the Developed Markets category ▲ 2025 Kakao Pay ESG Report
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26.9% 27.8% 27.6% 27.8% 29.0% 18 Appendix. ① User Engagement1) Note1) Notice of Business Performance metrics (from 2025) All user actions (all transactions involving monetary flow and requests for Kakao Pay services in Kakao Pay channels) are included in user traffic. This definition is distinct from UV, which simply refers to user visits. Note2) DAU : Daily Active User, MAU : Monthly Active User Note3) Calculated by aggregating the number of services used by users in the corresponding quarter's final month and dividing by the MAU of that month. If the same service is used multiple times, it is counted as '1’. Note4) ATPU : Average Transaction Per User, Calculated by dividing the total number of transactions in the quarter by the quarter's last month MAU Note5) ARPU : Average Revenue Per User, calculated by dividing quarterly consolidated revenue by the quarter's last month MAU DAU2) (Unit : Mil. Users) DAU/MAU Quarterly ATPU4) (Unit : Cases) Quarterly ARPU5) (Unit : KRW) No. of Transitioned Services Used per Active Users3) 6.4 6.6 6.7 6.7 7.0 2Q25 3Q25 4Q25 1Q26 2Q26 +9% YoY 3.7 3.8 3.9 3.8 4.0 2Q25 3Q25 4Q25 1Q26 2Q26 +8% YoY +2.1%p 10,075 10,103 11,151 12,464 13,979 2Q25 3Q25 4Q25 1Q26 2Q26 69 75 82 80 87 2Q25 3Q25 4Q25 1Q26 2Q26 +26% YoY +39% YoY
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Appendix. ② Consolidated Financial Statements Consolidated Statement of Financial Position Consolidated Income Statement (Unit: Mil. KRW) 2025.06 2026.03 2026.06 (Unit: Mil. KRW) 2Q25 1Q26 2Q26 Assets Current Assets 4,353,152 5,478,299 6,347,959 Revenue 238,289 300,286 335,079 Cash and cash equivalents 1,582,407 1,640,498 1,721,641 Revenue of non-financial services business 165,675 182,090 190,049 Deposits 245,267 361,809 484,523 Revenue of financial services business 72,614 118,196 145,030 Short-term financial instruments 902,406 894,404 744,108 Operating expenses 228,961 268,042 276,476 Financial Assets at Fair Value through Profit or Loss 1,137,023 1,508,353 1,896,187 Commission 96,885 104,967 113,945 Other current financial assets 449,708 1,026,627 1,451,410 Marketing expense 20,654 22,387 27,419 Other current assets 36,340 46,609 50,090 Labor cost 63,465 70,881 68,557 Non-current assets 491,938 524,648 513,645 Stock compensation expense 2,500 1,578 -281 Investment in associates 46,204 51,188 52,611 Dep. & Amort. 12,133 12,910 13,308 Property and equipment 35,555 38,759 44,467 Rent 1,484 1,738 1,900 Intangible assets 120,305 111,476 99,240 Others 34,339 55,158 51,347 Other non-current assets 289,874 323,226 317,328 Operating profit 9,328 32,244 58,603 Total assets 4,845,090 6,002,948 6,861,604 Other non-operating income 2,041 909 2,349 Liabilities Other non-operating expense 1,897 2,550 13,184 Current liabilities 2,800,618 3,891,121 4,703,664 Financial income 13,539 12,580 12,403 Trade and other payables 748,670 1,126,812 1,568,296 Financial expense 2,015 1,523 1,520 Deposits received 591,114 602,110 594,129 Share of loss of associates -1,033 -197 475 Deposits liabilities 1,326,985 1,910,135 2,221,586 Pre-tax income 19,963 41,462 59,127 Other current liabilities 133,849 252,064 319,652 Income tax expense 5,843 6,762 9,530 Non-current liabilities 124,191 123,899 119,069 Net income 14,120 34,700 49,596 Total liabilities 2,924,809 4,015,020 4,822,732 Owners of the Parent Company 12,705 28,480 40,039 Equity Non-controlling interest 1,415 6,221 9,558 Equity attributable to owners of the Parent Company 1,877,590 1,931,217 1,972,603 Share capital 67,496 67,623 67,635 Share premium 1,803,228 1,808,851 1,809,424 Other components equity 174,828 173,795 173,857 Accumulated other comprehensive income -10,011 -8,820 -8,119 Accumulated deficit -157,950 -110,232 -70,194 Non-controlling interest 42,691 56,711 66,269 Total equity 1,920,281 1,987,928 2,038,872 Total liabilities and equity 4,845,090 6,002,948 6,861,604 19
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Appendix. ③ Separate Financial Statements 20 Separate Financial Statement of Financial Position Separate Financial Statement (Unit: Mil. KRW) 2025.06 2026.03 2026.06 (Unit: Mil. KRW) 2Q25 1Q26 2Q26 Assets Current assets 2,635,076 2,596,414 2,652,811 Revenue 167,202 185,081 196,763 Cash and cash equivalents 1,513,976 1,480,645 1,695,316 Operating expenses 152,998 166,528 170,748 Short-term financial instruments 897,156 880,854 730,858 Commission 89,940 94,380 95,753 Other current financial assets 190,164 196,234 185,584 Marketing expense 17,600 18,636 23,998 Other current assets 33,779 38,681 41,053 Labor cost 38,708 45,609 42,669 Non-current assets 871,395 975,630 960,654 Stock compensation expense 411 231 214 Investments in associates 560,044 672,268 672,268 Dep. & Amort. 5,381 5,604 5,721 Property and equipment 23,924 24,026 28,420 Rent 1,191 1,243 1,255 Intangible assets 30,716 31,575 20,805 Others 178 1,056 1,352 Other non-current assets 256,710 247,761 239,161 Operating profit 14,204 18,553 26,016 Total assets 3,506,470 3,572,044 3,613,465 Other non-operating income 1,811 1,090 2,496 Liabilities Other non-operating expense 1,966 2,023 12,429 Current liabilities 1,235,424 1,257,110 1,280,299 Financial income 14,087 12,935 12,595 Trade and other payables 550,114 535,192 570,803 Financial expense 1,457 811 797 Deposits received 591,114 602,110 594,129 Pre-tax income 26,679 29,743 27,881 Other current liabilities 94,195 119,808 115,367 Income tax expense 6,000 6,823 6,798 Non-current liabilities 92,525 85,067 81,618 Net income 20,679 22,921 21,083 Total liabilities 1,327,949 1,342,177 1,361,917 Equity Share capital 67,496 67,623 67,635 Share premium 1,902,967 1,908,753 1,909,326 Other components equity 174,828 173,795 173,857 Accumulated other comprehensive income -8,187 -8,789 -8,838 Retained earnings 41,418 88,485 109,568 Total equity 2,178,521 2,229,867 2,251,548 Total liabilities and equity 3,506,470 3,572,044 3,613,465