KRAFTON FY2026 Q2 Earnings Release

FY2026 2Q & 1H Earnings Results
2026. 07. 29

Disclaimer
Financial statements included in this document are consolidated results of KRAFTON, Inc. (the “Company”)
and its subsidiaries and have been prepared in accordance with K -IFRS.
Financial results and operational performance included herein have been prepared for investors’
convenience only and have not been audited by an independent auditor; as such, certain part(s) of
this presentation are subject to change, upon completion of the audit review.
Company makes no representations as to the accuracy or completeness of the information herein,
nor does the Company assume any duty to update any information, given that this presentation has been
prepared based on currently available data.
Company shall not have any liability for any loss arising from any use of this presentation or its contents or
otherwise arising in connection with this presentation, as this should not be construed to be related to
any investment decision making and shall not be used for any legal proceedings.

CEO CH Kim
CEO Highlights

PUBG Franchise
2Q26 Performance and Strategy
Solid growth of core IPs and validation of a repeatable franchise IP growth model
User and revenue growth through co ntent platformization ,
Scaling mobile UGC ecosystem
Well -made modes drove core fanbase and revenue growth
IP collaboration in UGC to s tructural ly expand traffic
Subnautica 2 validates scale -up execution,
Building a repeatable franchise IP growth model
Early Access confirmed potential as the second franchise IP
Prioritize quality and community trust ahead of full launch
New Franchise IP
4

PUBG Franchise
C ontent p latformization drove user and revenue growth , mobile ecosystem to be further scaled
Well -made modes reactivated core fandom engagement
Content and strategic monetization improved revenue e fficiency
New modes 2) and UGC enhancement to further strengthen traffic
1) Monthly Active Users2) New well -made modes scheduled for release in the winter season 3) UGC modes in PUBG Mobile and BGMI
Five -Year PC/Console Revenue Five -Year 2Q PC/Console MAU 1)
IP Collaboration
Modes
Boosting core fandom engagement through WOW 3) content
Expanding user base through global IP collaboration maps
Building a growth ecosystem where user creation fuels
content supply and gameplay
World of Wonder
(WOW)
5
2Q22 2Q23 2Q24 2Q25 2Q26 2Q22 2Q23 2Q24 2Q25 2Q26
[2Q26 Recap] Platformization as a structural growth driver [3Q26 Plan] Driving further growth via mobile expansion

New Franchise IP
1) Surpassed 5M units sold within 22 days of Early Access launch2) As of July 29, 2026
Scaling validated IPs into franchises through a repeatable system
Validating potential of 5 new titles at gamescom Turned strong expectations into a global hit, building into a lasting franchise
EARLY ACCESS PERFORMANCE
Cumulative units sold 1)
5M +
Steam reviews 2)
Very Positive
KEY SCALE -UP LEVERS
Discovering and scaling a genre -defining IP
IP with
Franchise
Potential
Underwater survival adventure with strong fandom
+
Scale -up
the
Creative
Co-op expanded scalability while preserving core gameplay
+
KRAFTON
as a
Publisher
Publisher -led validation with strong community engagement
NEXT STEP
Focus on quality and community trust until full launch,
while pursuing long -term franchise expansion
Systematizing IP discovery, selection, and scale -up
know -how from Subnautica 2 to create the next franchise IP
gamescom
First Release
1PP PUBG STUDIOS
A new setting and gameplay built on PUBG Franchise
1PP First -person open -world shooter RPG · Neon Giant
Immersive simulation set targeting Western core users
2PP Multi -team tactical arena · Nirvanana
Hero -PvP tactical team combat, validating live scalability
through open dev
2PP Two -player co -op puzzle adventure · Piccolo Studio
Family -friendly co -op puzzle gameplay, validating demand for
accessible co -op
2PP Asian fantasy action RPG · Boundary Studio
Action RPG with a distinctive Asian fantasy
6

CFO Dongkeun Bae
FY2026 2Q & 1H Financial Performance

1H26
Highlights
Record high half -year revenue, up 73% YoY, driven by
PUBG Franchise 1) growth and Subnautica 2 Early Access
Record high half -year operating profit,
reaching 92% of FY2025 full year operating profit
Early Access launched on May 15, 2026
Subnautica 2 ranked among top -selling global titles in 2026
Subnautica IP2)revenue reached KRW232.5bn in 1H26 5M + Units
8
KRW 2.7 tn
Operating
Profit
KRW 972.5 bn
Revenue
1) Including PUBG PC/Console, PUBG Mobile, BGMI, and Peacekeeper Elite Technology Service Fee2) Including Subnautica 1, Subnautica : Below Zero, Subnautica 2, etc.

219.7 353.9 287.4 363.9 560.4 427.6
488.5
292.2
702.7 451.0
9.8
10.2 9.7
13.8 23.8
4.9
18.0 330.4
291.0 255.0
2Q25 3Q25 4Q25 1Q26 2Q26 PC 모바일 콘솔 기타 PC Mobile Console Others
Revenue Breakdown
(YoY 94.9% ↑, QoQ 5.9% ↓) 2Q26
1H26 (YoY 73.3% ↑)
9
662.0
870.6 919.7
1,371.4 1,290.2
(Unit: KRW bn) 2Q 2025 1Q 2026 2Q 2026 YoY QoQ 1H 2025 1H 2026 YoY
Revenue 662.0 1,371.4 1,290.2 +94.9% -5.9% 1,536.2 2,661.6 +73.3%
PC 219.7 363. 9 560.4 +155.1% +54.0% 543.2 924.2 +70.1%
Mobile 427.6 702.7 451.0 +5.5% -35.8% 960.0 1,153.7 +20.2%
Console 9.8 13.8 23.8 +143.3% +72.1% 22.9 37.7 +64.6%
Others 4.9 291.0 255.0 +5,010.6% -12.4% 10.1 546.0 +5,286.2%
946.5 925.7
1,372.9
1,536.2
2,661.6
1H22 1H23 1H24 1H25 1H26 1H25 1H26 PC/ 콘솔 모바일
9
PUBG Franchise
+25%
Mobile
+18%
PC/Console
+37%
Revenue Breakdown (by Platform)
Revenue
PUBG Franchise 1) Revenue Trend
PC/Console Mobile
KRW 1.3tn
KRW 2.7tn
1H R evenue Trend
(Unit: KRW bn) (Unit: KRW bn)
1) PC/Console revenue represents the combined figures for PUBG PC and PUBG Console; Mobile revenue represents the combined fi gures Including PUBG Mobile, BGMI, Peacekeeper Elite Technology Service Fee

3Q26 PUBG Franchise Content
IP collaborations and UGC expansion to accelerate evolution into a c ontent p latform
10
IP Collaborations Expanding UGC Eco -System
Global Anime Collaborations 1)
2023
Official launch of World of Wonder (2023.03)
UGC and gameplay platform built on PUBG Franchise
2024~2025
Enhanced creation tools, UGC ecosystem began scaling
5.4M+ 2)cumulative created maps achieved
through the expansion of WOW creation tools
2026~
Strengthening UGC gameplay content (2026.3Q)
Expanding UGC content through IP collaborations,
including Naruto and Spider -Man
Expanding anime IP collaborations
across PUBG Franchise
Introducing four flagship Ferrari models,
with exclusive customization options
Ferrari Collaboration
1) Naruto IP collaboration applies to PUBG Mobile and BGMI; not applicable to PUBG PC/Console2) Based on the announcement at 2025 PMGC (PUBG Mobile Global Championship, December 2025)

480.8 414.5
642.6 703.3
972.5
1H22 1H23 1H24 1H25 1H26
416.0 509.3 518.2 524.8 641.5
292.2 244.1
235.5
12.7
106.9 41.0 2.3
2Q25 3Q25 4Q25 1Q26 2Q26 영업비용 ADK 영업비용 일회성 비용 Operating Expenses
2Q26 (YoY 111.4% ↑, QoQ 8.6% ↑)
Operating Profit
2Q26 (YoY 67.0% ↑, QoQ 26.8% ↓)
(Unit: KRW bn)
416.0
917.3
522.0
809.9
3)
11
1H26 (YoY 102.8% ↑)
1H26 (YoY 38.3% ↑)
11
879.3
1) Platform fees / Cost of Revenue consist of Steam, market commissions, etc.2) One -off costs occurred in each quarter (Common Labor Welfare Fund, lawsuit -related expenses, severance support payments)
Operating Expenses & Profit
Operating Expenses (Unit: KRW bn) 2Q 2025 1Q 2026 2Q 2026 YoY QoQ 1H 2025 1H 2026 YoY
Operating Expenses 416.0 809.9 879.3 +111.4% +8.6% 832.9 1,689.2 +102.8%
Personnel 146.8 276.1 237.4 +61.7% -14.0% 295.2 513. 5 +73.9%
Platform Fees/Cost of Revenue 1) 83.9 114.7 166.5 +98.3% +45.1% 188.9 281.2 +48.8%
Paid Commissions 96.2 297.2 342.5 +255.9% +15.2% 180. 3 639.7 +254.6%
Marketing 26.1 42.0 44.9 +72.3% +7.0% 49.0 86. 9 +77.3%
Share -based Compensation 20.0 13.4 14.0 -29.8% +4.8% 37.9 27.4 -27.7%
Others 43.0 66.5 74.0 +72.3% +11.3% 81.5 140.5 +72 .5%
Operating Profit 246. 0 561.6 410.9 +67.0% -26.8% 703.3 972.5 +38.3%
% Margin 37.2% 40.9% 31.8% -5.3%p -9.1%p 45.8% 36.5% -9.2%p
Operating Expenses Operating Profit
(Unit: KRW bn) (Unit: KRW bn)
ADK Operating Expenses One -off Costs 2)
Increased 111% YoY due to inclusion of ADK, and rose 9% QoQ
on higher platform fees /cost of revenue and paid commissions
KRW 1.7tn
KRW 879.3bn
KRW 972.5bn
KRW 410.9bn
1H Operating Profit Trend
Increased 67% YoY driven by PUBG Franchise growth and
Subnautica 2 Early Access
246.0 348.6
2.4
561.6
410.9
2Q25 3Q25 4Q25 1Q26 2Q26

(222.2)
138.1
(52.9)
157.5
(316.7)
2Q25 3Q25 4Q25 1Q26 2Q26
15.5
369.4
(22.7)
514.1
(29.9)
2Q25 3Q25 4Q25 1Q26 2Q26
23.9
486.7
(50.5)
719.1
94.2
2Q25 3Q25 4Q25 1Q26 2Q26
(Unit: KRW bn) (Unit: KRW bn) (Unit: KRW bn)
1H26 (YoY 25.1% ↑)
12
Net Profit
Net Profit (Unit: KRW bn) 2Q 2025 1Q 2026 2Q 2026 YoY QoQ 1H 2025 1H 2026 YoY
Operating Profit 246. 0 561.6 410.9 +67.0% -26.8% 703.3 972.5 +38.3%
Non -Operating Profit (222.2) 157.5 (316. 7) n.a. n.a. (180. 5) (159. 2) n.a.
Non -Operating Income 1.0 202.0 102.0 +9,861.8% -49.5% 129. 3 304.0 +135.1%
Other Income (4.5) 194.3 95.6 n.a. -50.8% 117. 6 289.9 +146.6%
Finance Income 5.5 7.7 6.4 +17.0% -17.1% 11.7 14.1 +20.3%
Non -Operating Expense 223.2 44.5 418. 7 +87.6% +841.4% 309.8 463.1 +49.5%
Other Expenses 220.8 40.0 413.0 +87.0% +933.0% 304.8 453.0 +48.6%
Finance Expenses 2.4 4.5 5.6 +139.1% +25.8% 5.0 10.1 +103.3%
Profit Before Income Tax 23.9 719.1 94.2 +294.2% -86.9% 522.8 813.3 +55.6%
Income Tax 8.4 205.0 124.1 +1,383.8% -39.5% 135.8 329.1 +142.4%
Net Profit 15.5 514.1 (29.9) T/D 1) T/D 1) 387.0 484.2 +25.1%
% Margin 2.3% 37.5% -2.3% n.a. n.a. 25.2% 18.2% -7.0%p
Non -Operating Profit Profit Before Income Tax Net Profit
KRW 484.2bn
First -half net profit increased 25% YoY
1) T/D: Turned to Deficit

153.0 121.6
203.0 431.5
100.0
2023 2024 2025 2026
3Q26
1H26
1313
• KRW 300bn share buyback and KRW 99.6bn ¹⁾capital reduction dividend completed in 1H26 (122.6% of full -year 2025)
• KRW 431.5bn 2⁾in shares cancelled, including newly acquired and existing treasury shares (3.5% of total shares outstanding)
(As of 1Q~3Q)
(Unit: KRW bn) (Unit: KRW bn)
Share Cancellation 3)
1) KRW 2,240 per share paid on April 22, 20262) KRW336.2bn: based on the closing price of KRW 263,500 on April 17, 2026, the trading day prior to the BOD resolution; canc ellation completed on April 27 / KRW95.3bn: treasury shares acquired during 2Q, with cancellation scheduled for August 5 3) Treasury share cancellation amounts for FY2023 -2025 were calculated using the closing price on the trading day prior to each BOD resolution multiplied by the number of shares cancelled, and may therefore differ from the book -value -based amounts disclose d previously
• Additional KRW 100bn share buyback and full cancellation planned in 3Q26
• Timing and scale to be managed flexibly based on market conditions and share price
99.6
167.9 199.2
325.9
300.0
100.0
2023 2024 2025 2026
배당 자기주식 취득
1H26
3Q26
Shareholder Returns
Additional KRW100bn share buyback and cancellation in 3Q
2026 1H
Recap
2026 3Q
Plan
Shareholder Return
(As of 1Q~3Q) Dividend Share Buyback
Cumulative
KRW 499.6bn
Cumulative
KRW 531.5bn

Q&A
CEO
CH Kim
CFO
Dongkeun Bae

Appendix

(KRW bn) 2025 2026
1Q 2Q 1H 1Q 2Q 1H
Revenue 874.2 662.0 1,536.2 1,371.4 1,290.2 2,661.6
Operating Costs 416.9 416.0 832.9 809.9 879.3 1,689.2
Operating Profits 457.3 246.0 703.3 561.6 410.9 972.5
EBITDA 487.1 276.3 763.4 609.6 464.5 1,074.1
Adj. EBITDA 1) 505.1 296.3 801.4 622.9 478.5 1,101.5
Non -Operating Profit 41.6 (222.2) (180.5) 157.5 (316. 7) (159. 2)
Other Income 122.0 (4.5) 117.6 194.3 95.6 289.9
Other Expenses 84.0 220.8 304.8 40.0 413.0 453.0
Finance Income 6.2 5.5 11.8 7.7 6.4 14.1
Finance Expense 2.6 2.4 5.0 4.5 5.6 10.1
Profit Before Income Tax 498.9 23.9 522.8 719.1 94.2 813.3
Income Tax 127.4 8.4 135.8 205.0 124.1 329.1
Net Profit 371.5 15.5 387.0 514.1 (29.9) 484.2
(KRW bn) 2025 2Q 2026
Assets
Current Assets 4,866.3 4,81 1.9
Cash and Cash Equivalents 2) 3,180.7 2,662.1
Others 1,685. 6 2,149. 8
Non -current Assets 4,567.3 4,902.3
Property and equipment 578.9 576.4
Intangibles 1,804.2 1,862.8
Investment in Associates 806.0 920.4
Others 1,378.2 1,542. 7
Total Assets 9,433.6 9,714. 2
Liabilities
Current Liabilities 1,583.3 1,476.8
Non -current Liabilities 666.2 887.4
Total Liabilities 2,249.5 2,364.2
Equity
Shareholders’ equity 7,041.4 7,212.3
Paid -in Capital 4.9 4.9
Capital Surplus 1,476.5 1,480.4
Other Components of Equity (77.5) (51.4)
Retained Earnings 5,637.5 5,778.4
Non -controlling Interests 142.7 137.8
Total Equity 7,184.1 7,350.1
16 1) Adj. EBITDA = EBITDA + Share -based payment expenses 2) Including FVPL (Fair Value through Profit or Loss)
Summary of Financial Statements
Consolidated Income Statement Consolidated Statement of Financial Position

Slogan
Statement
Core
Values Aim for
Bold Objectives
We set objectives that
inspire us and move us
toward meaningful results
Depth Builds the
Edge
Deep thinking and
meticulous groundwork
fuel our success
Imagination +
Technology
Fuse imagination with
technology to create
immersive experiences
fans have never seen
Fans are at the center of
every decision, guilding us
to bring players’ dreams to
life from start to finish
Expand global capabilities
by understanding and
learning diverse cultural
difference
Fan -First Thinking Embrace Global
Perspectives
We pioneer the path to players’ dreams
With bold imagination and breakthrough technology,
We create unforgettable worlds for fans across the globe
PIONEER THE UNDISCOVERED
Our Vision
17