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February 2021 | Kakao Investor Relations Disclaimer February 2021 | Kakao Investor Relations Disclaimer Financial information contained in this document is based on consolidated K-IFRS that have not been audited 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. Table of Contents Kakao Ecosystem 4 Kakao Business 11 Talk Biz - Ad 12 Talk Biz – Commerce 15 Mobility 16 Techfin(Pay) 17 Techfin(Bank) 18 B2B Business 19 Music 20 Game 21 Paid Content 22 IP Business(M) 23 Kakao Entertainment 24 Financial Overview 25 Kakao Ecosystem Kakao Business Financial Overview 4 Mission Making a Better World with People and Technology History ● Interactive Business Platform May 2019 Kakao 2014 Bizboard Kakao & Daum Merger 2010 2010 2014 2015 2017 2017 Sep. 2020 Kakao Kakao Kakao Kakao Kakao Carve- Kakao Talk Gift Pay Taxi Bank out Work 2006 KaKao (I.W.I LAB) Established 2018 2021 Kakao & LOEN Page & M 2016 2012 2012 2013 2016 Merger Sep. 2020 Merger LOEN Kakao Kakao Kakao Kakao Japan Kakao TV Acquisition Mar. 2021 Game Friends Page Piccoma Kakao Entertainment ● Content Ecosystem & Global Expansion Kakao M Established Undisputed Market Leader Monthly Active Users in Korea grew by +1.1M YoY, +190K QoQ KakaoTalk Monthly Active Users (in thousands) 45,508 45,793 45,981 44,859 45,188 44,417 44,731 43,813 44,076 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 Korea 43,813 44,076 44,417 44,731 44,859 45,188 45,508 45,793 45,981 Global 50,220 50,548 50,882 51,374 51,495 51,768 52,133 52,299 52,223 Average of monthly MAUs. Global includes domestic MAUs. 7 Repeatable Success Formula Unique Success Factors for New Businesses: #1 Consumer Satisfaction Large User Base Encompassing an Entire #1 Internet-Only Bank Nation #1 MaaS Platform Kakao’s Nationwide Following Ensuring Success of New Service Launches #1 Digital Comic Platform #1 Korean Paid Content Platform Unrivaled Access and Insight to User Data #1 Mobile Game Platform #1 Most Likeable Characters Minimal User Acquisition Costs 8 Global Strategic Partnerships Kakao Mobility Kakao Page Kakao Pay Kakao Games Kakao M Kakao Bank Kakao’s Stake1) 69.3% 63.5% 56.1% 45.8% 77.3% 31.8% ACEVILLE Strategic Partner 0 SKYblueLuxury Transaction Mar. 2021 (E) Jul. 2019 Jul. 2020 Sep. 2020 Mar. 2020 Dec. 2020 Valuation (KRW tn) 3.29 1.2 1.1 4.6 1.6 8.8 Market Cap2) 500 125 230 250 Jun. 2017 Dec. 2016 Feb. 2017 Investment 210 Nov. 2020 Amounts 219.9 24 115 750 (KRW bn) Mar. 2021 Jul. 2019 Jul. 2020 Dec. 2020 1) Latest filings, Kakao’s stake for Mobility will change on Mar 31st to 64.6% from 69.3% 2) Market cap at close of listing date 9 Company Management Kakao Founder & Chairman Kakao CEO Brian Kim “Korean Web Pioneer” By Forbes Asia Mason Yeo Sean Joh Key Subsidiaries 1998 Founder & CEO KakaoKakao Games Kakao Mobility Kakao Pay One of the first online game portals globally * Merged with NAVER (in 2000) 2001 CEO Nkay Namkoong Leo Cho Alex Ryu Alex Ryu Kakao Kakao Page Kakao Japan Kakao M #1 Search portal in Korea Kakao Page Enterprise 2009 Founder & Chairman #1 Mobile messaging app company in Korea Joy Lee Jay Kim Stephan Kim Andrew Beak *Merged with Daum (in 2014) 10 Kakao Ecosystem Kakao Business Financial Overview 11 Paradigm Shift in Advertising Industry Significant Growth Opportunity in Kakao Talk as a Biz Platform Ad Market Size (2020) Talk Biz Revenue (in KRW tn) (in KRW bn) Guidance +50% YoY Total Ad. Market 14.5 650 +72% YoY Digital Ad 7.3 421 Digital Penetration 50% 258 Kakao Ad 1.1 Digital Ad M/S 15% 2018 2019 2020 2021(E) 1) Kakao Ad includes Talk biz advertising and Portal Biz Revenue in FY2019 12 Talk Biz Advertising(Kakao Bizboard) New Innovative Way to Connect 46 million Mega Traffic Chat list tab is where Users can get recommendations Users may fulfill any actions users spend the most time of their interests that wish to take Sync KakaoTalk AI Purchase Channel Chatbot Reservation Support #DISCOVER Talk Gift #CONNECT #ACTION Download Talk Registration Talk Survey Store Customer Service Kakao Pay … 13 Evolution of Kakao Bizboard Mid-to-long Term Growth Driver with Bizboard Inventory Expansion Expanding Bizboard into Landings within Kakao services other Kakao services Kakao Page Daum # Tab Talk Gift Kakao TV Official Account Daum Webtoon Acquired 3mn+ Subscribers DAUM KAKAO PAGE 14 Talk biz Commerce From Leveraging the Social Graph to any Talk-based Transactions Key indices 10.21mn 21.73mn 64% YoY 292% YoY Monthly Talk Gift Commerce Talk Store Buyers MAU FY2020 GMV FY2020 GMV As of December 2020 Gift Talk Store > Talk Deal Talk Store > Live Commerce Makers (Made-to-order Platform) RYAN RYAN RYAN 1) Key indices as of 4Q20 15 Mobility MaaS Platform with All-Inclusive Transportation Needs Kakao T Key Indices 27mn 13.64mn 16,000 169% YoY Registered Credit Card Kakao T Bule Revenue Growth Users Registrants Fleet FY2020 Kakao corp Largest # of Users Ready to Pay Users December 2020 consolidated revenue Kakao T Application Taxi Service Option Revolutionizing into a Service Meeting All Types of Mobility Demands Kakao T Blue Premium Paying Service Option Kakao T Venti 1) Key indices as of 4Q20 16 Techfin(Pay) No.1 All-Encompassing Daily Financial Platform Kakao Pay Key Indices 35mn 20mn+ 3.2mn+ W67tn Accumulated Brokerage MAU FY2020 GMV Members Accounts 9.6mn fund investments 4Q20 19.9trn made in December +47.3% YoY 3.2mn+ Real-name Based Transformation into Tailored Pay Money Upgrade Brokerage Accounts Opened Wealth Management Platform Prepaid Real Name Top-up BM Account 3,200,000 2,500,000 Non-Benefit Interest Benefit for Deposit 1,700,000 Equivalent to 1,400,000 Limit on Balance 1,200,000 Brokerage Account 600,000 Limited Scope of Diversified Financial Financial Service Products Mar. May. Jun. Jul. Oct. Dec. 17 Techfin(Bank) No.1 Internet-Only Bank with Innovation Kakao Bank Key Indices 13mn+ W23.5tn W20.3 tn W113.6bn FY 2020 Deposits Credit Loans Net Profit MAU 10mn+ FY2019 Net Profit No.1 Mobile Banking APP W13.7bn Platform Business Expansion Pioneering a New Market Frontier Low-limit Higher Exclusive Loan Limit Product Mortgage-free credit loan Loan product only for mid-to-low credit profilers Proprietary credit scoring model to assess mid-to-low credit profilers more closely by utilizing financial and non-financial data - Partnership with 4 credit card companies, 26 Weeks Saving with E-Mart & Market Kurly 1) Capital as of latest filings 2) Key indices excepting capital as of 4Q20 18 B2B Business B2B Business Expansion with Differentiated AI Technology Work Business Tech Cloud Data Kakao Work Kakao i Connect & Home Kakao i Cloud Kakao i Insight 10 Years of Integrated Enterprise Business Service Kakao i Engine Industry Insight Accumulated Platform Platform Kakao i Home based Data Know-hows Integrated Business Platform ‘Kakao Work’ Core Strength Pre-launch Sep. 16th 2020 ▶ Paid Membership Launch in 2021 Combination of Brand Power and Expertise Integrated Biz Platform based on Messenger Service Integration of AI and Search Technology Secure Cloud Environment 19 Music # 1 Digital Music Platform with Unparalleled Market Presence Melon Key Indices 5.13mn+ 40mn+ 110mn+ Paying Song Library Playlists Subscribers More Personalized & Dominant Traffic Largest Music Content Customized Functions ‘Melon Station’ Increased Streaming Trend Synergy with KakaoTalk Plus Offering Trendy Audio Contents through Talk Music - Marketing with Talk Drawer # of Streaming (Apr 2019~) Profile Music Revamp Apr Jul Dec 1) Key indices as of 4Q20 20 Game Multi-Platform Game Company Encompassing PC and mobile Game Key Indices 1,100+ No.1 Development Global Publishing Publisher Capability Potential In-house game development No.1 Mobile Game 16mn+ Going Global from casual to Platform Monthly Users Leveraging Proven IPs hard-core genre (XL Games) Publishing Game Line-up FY2021 Game Lineup Title Genre Fashion 1Q Alice Closet Elyon (Global) MMORPG Coordination Princess Guardian Odin: Valhalla Rising MMORPG Odin: Valhalla Rising MOBILE ODIN MMORPG connect! (Global) Tales (2021 1H) Moonlight Sculptor MMORPG Re:dive (Global) 2Q Soul Artifact Collectible RPG World Flipper Pinball Action Terra Fire Survival FPS Friends Party Golf Casual Black Survival: Eternal Battle Royale Goddess’ Order 2D RPG Return +MOBA 3Q PC PUBG POE ELYON Kakaopage Play Story Project King Puzzle 21 Paid Content (Web Literature) Growth through Innovative Business Model and Original IPs Paid Content Key Indices W769.4bn W528.5bn Global No.1 Piccoma 1tn Global Platform Kakao Page Comic App Page 0.7tn GMV Total GMV FY2021 GMV Target Page + Piccoma GMV including In revenue size Page GMV including + Page Global IP distribution for Piccoma IP distribution Piccoma’s accelerating growth Augmented IP value of Kakao Page from proven story IPs and unique business model with virtuous cycle of contents (Unit: mn JPY) Web 37,601 toon
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