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1Q 2021 | Kakao Investor Relations Disclaimer 1Q 2021 | Kakao Investor Relations 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 and its subsidiaries (the “Company”, or “Kakao”) 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 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 B2B Business 18 Music 19 Game 20 Paid Content 21 IP Business(M) 22 Kakao Entertainment 23 Financial Overview 24 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) 45,793 45,981 46,356 45,188 45,508 44,731 44,859 44,076 44,417 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 Korea 44,076 44,417 44,731 44,859 45,188 45,508 45,793 45,981 46,356 Global 50,548 50,882 51,374 51,495 51,768 52,133 52,299 52,223 52,976 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 Pay Kakao Games Kakao Entertainment Kakao Bank Kakao’s Stake1) 63.4% 56.1% 45.4% 68.5% 31.6% ACEVILLE Strategic Partner SKYblueLuxury Kakao Page Kakao M (Formerly) (Formerly) Transaction Apr. 2021 Jul. 2020 Sep. 2020 Jul. 2019 Mar. 2020 Dec. 2020 Valuation (KRW tn) 3.35 1.1 4.6 1.2 1.6 8.8 Market Cap2) 500 230 125 250 Jun. 2017 Feb. 2017 Dec. 2016 Investment 210 Nov. 2020 Amounts 219.9 115 24 Mar. 2020 750 (KRW bn) Mar. 2021 Jul. 2020 Jul. 2019 Dec. 2020 56.5 Apr. 2021 1) Latest filings, 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 Entertainment Kakao Japan #1 Search portal in Korea Kakao Page Enterprise 2009 Founder & Chairman #1 Mobile messaging app company in Korea Joy Lee Jay Kim Andrew Beak *Merged with Daum (in 2014) Stephan Kim 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 1,111 +71% YoY Digital Ad 7.3 650 Digital Penetration 50% 421 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 Talk Biz Advertising(Message Ad) Virtuous cycle with Bizboard, KakaoTalk Channel and Notification Talk The virtuous cycle The mandatory destination established with bizboard for customer management Bizboard Notification Talk Channel Talk Friend Purchase, Talk Channel Booking Message KakaoTalk channel KakaoTalk channel home message ad 14 Talk biz Commerce From Leveraging the Social Graph to any Talk-based Transactions Key indices 58% YoY 54% YoY 2 x YoY 79% YoY Total Commerce Talk Gift GMV Talk Store GMV Makers GMV GMV Marketing place for Delivery goods newly launched 74% YoY products Gift Talk Store > Talk Deal Talk Store > Live Commerce Makers (Made-to-order Platform) RYAN RYAN RYAN 1) Key indices as of 1Q21 15 Mobility MaaS Platform with All-Inclusive Transportation Needs Kakao T Key Indices 28mn 14.72mn 21,000 2 x YoY Registered Credit Card Kakao T Bule 1Q21 Users Registrants Fleet Revenue Kakao corp Largest # of users Ready to pay users 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 1Q21 16 Techfin(Pay) No.1 All-Encompassing Daily Financial Platform Kakao Pay Key Indices 36mn 4mn+ W22.8tn 127% YoY Accumulated Brokerage Non-transfer 1Q21 GMV Members Accounts GMV Cumulative Investors W67 tn FY2020 On/offline Payment, 1.6mn+ W100 tn FY2021 Target Loan channeling, Investment 4mn+ Real-name Based Solid revenue growth thanks to Pay Money Upgrade Brokerage Accounts Opened payment and financial service expansion Surpassed Prepaid Real Name 4mn Top-up BM Account 3,200,000 Non-Benefit 2,500,000 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 3월 5월 6월 7월 10월 12월 3월 17 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 18 Music # 1 Digital Music Platform with Unparalleled Market Presence Melon Key Indices 5mn+ 40mn+ 110mn+ Paying Song Library Playlists Subscribers More Personalized & Dominant Traffic Largest Music Content Customized Functions Offering Customized Play List and Trendy Audio Contents Increased Streaming Trend through Talk Music # of Streaming (Apr 2019~) Profile Music Revamp Jul-2020 Mar-2021 1) Key indices as of 1Q21 19 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) Major Game Line-up Title line-up to be released after 2Q21 Title Genre Title Genre Odin: Valhalla Rising MMORPG Elyon (Global) MMORPG Princess Guardian Moonlight Sculptor MOBILE ODIN MMORPG Odin: Valhalla Rising connect! Tales (Global) MMORPG 2Q21(E) (Global) Re:dive Friends Party Golf Casual Soul Artifact Collectible RPG Eternal Return: Black Battle Royale (temporary name) Survival +MOBA Dysterra Survival FPS World Flipper Pinball Action Project King Kakaopage Play Puzzle PC Story (temporary name) PUBG POE ELYON (temporary name) 20 Paid Content (Web Literature) Growth through Innovative Business Model and Original IPs Paid Content Key Indices W152.1bn W167.2bn Global No.1 Piccoma 1tn Piccoma Kakao Page Comic App Page 0.7tn Platform GMV Total GMV FY2021 GMV Target GMV including In revenue size 181% YoY Page GMV including 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 YoY Growth +144% Web Drama 157% Novel 13,409 1,532% 6,255 2,434 149 2016 2017 2018 2019 2020 Drama based on Daum Globally popular webtoon Game Movie Webtoon Piccoma GMV Trend <Only I Level Up> <Itaewon Class> 1) Key indices as of 1Q21 21 IP Business(M) Transforming into a Leading Global Content Provider Kakao M Key Indices No.1 30mn+ 90+ 150+ 240+ Music 1theK Musician Actors & Digital Distribution Subscriber Actresses Contents No.1 K-pop Korea’s Largest Stable Cash Flow 4 Music Labels Accumulated original titles YouTube Channel Talent Pool in 3 years Music Business Portfolio Content Production Capability Kakao TV Original
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