Nexon FY2025 Q2 Earnings Release

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INVESTOR PRESENTATION Q 2 2025
Junghun Lee President and CEO | Shiro Uemura CFO

2 © 2025 NEXON Co., Ltd. All Rights Reserved.
Table of Contents
• Management Summary
• Franchise Summary
• Q2 2025 Results
• Q3 2025 Outlook
• Shareholder Return
• Pipeline
• Appendix

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353.7
423.4 446.2
232.8
FY22 FY23 FY24 FY25Q1-Q2
Vertical (Three Franchises Total) Horizontal
109.2
139.4 140.2
79.7
FY22 FY23 FY24 FY25Q1-Q2
Management Summary
Fulfilled Commitment With Outperformance from Three Major Franchises and New Launches
Live Operations Excellence Drives Strong Momentum
Making Progress for Global Expansion
Shareholder Returns Reflect Our Confidence
• Dungeon&Fighter franchise :67% Y/Y revenue growth on Dungeon&Fighter (PC)
• MapleStory franchise :Delivered outperformance and 60% Y/Y franchise revenue growth
• Korea PC delivered 91% Y/Y growth and Q2 record
• MapleStory Worlds grew >7x Y/Y
• FC franchise: Exceeded Q2 revenue expectations driven by 7th Anniversary update
• Mabinogi franchise :Strong post -launch activity on mobile delivered outperformance
• Completed ¥50 billion share repurchase in June
• Authorized ¥25 billion share repurchase from August 14 to October 31
• Plan to complete the repurchases of the remaining ¥25 billion worth of shares by February 2026
• ARC Raiders: Scheduled for global release on October 30 th
• THE FINALS: Received an ISBN license in China and began a closed alpha test on August 8
• Vindictus : Defying Fate: #1 Most -Played Demo in the Steam Next Fest
• Woochi the Wayfarer: Announced an all -new AAA action -adventure game
Revenue
Adjusted Operating Income 1
1Operating Income excluding Other Expense such as impairment losses
(Unit: ¥ billions)
(Unit: ¥ billions)

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Trailing 12 – Month Franchise Revenue History
REVENUE
TIME
Sustained Strength in Core Franchises, Complemented by New Launches Including
MABINOGI MOBILE
Horizontal
Growth
Vertical
Growth
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Dungeon&Fighter Franchise MapleStory Franchise FC Franchise Others

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Dungeon&Fighter Franchise
Dungeon&Fighter (PC)
• In Korea, Q2 revenue grew 132% Y/Y, setting a record high
quarterly revenue; MAUs and PUs nearly doubled Y/Y
• In China, Q2 revenue exceeded outlook; Anniversary update
pushed June MAUs and PUs to their highest levels this year
• Anticipate continued Y/Y growth both in Korea and China
while expecting a sequential decline in Q3
Dungeon&Fighter Mobile
• May Anniversary update was less effective than expected
at retaining returning players
• Expect modest sequential revenue growth in Q3 driven by
a series of updates during the quarter beginning with the
July level cap increase
• Co -developed content by Tencent scheduled for release
later this year
The First Berserker: Khazan
• Summer campaign kicked off in June with new content and
promotion
67% Y/Y Growth on Dungeon&Fighter (PC)
Franchise Revenue Down 40% Due to Mobile Launch in 2024
Dungeon&Fighter Franchise Revenue
Q2
Q1
2022 2023 2024 2025
Q2
Q1
Q4
Q3
Q3

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MapleStory Franchise Revenue
Q1
Q2
Q1
Q4
Q3
1MapleStory Worlds is a content creation platform in which users can use MapleStory assets to create their own game and share it with other players
MapleStory Franchise
Q2 Revenue Grew 60% Y/Y Driven by PC version in Korea and
Maplestory Worlds; Expect 70% Y/Y Growth in Q3
Global MapleStory
• Grew Y/Y, led by strong 36% growth in the West which increased
the player base
MapleStory Worlds 1
• Exceeded expectations with 7x Y/Y growth following regional expansion
• Performed exceptionally well in Taiwan
• Expect the momentum to continue in Q3
MapleStory : Idle RPG
• New mobile game created through strategic partnership with
Able Games, a rapidly -growing developer of idle games
• Global 2release scheduled later this year
• Set a Q2 record w/ 91% Y/Y Growth
• Summer update delivered a significant increase in active players
and record -high market share of 25% in PC Cafes
• Expect Q3 revenue to more than double Y/Y driven by additional
content planned to maintain player engagement
Korea MapleStory
MapleStory Universe
• MapleStory N launched on May 15 in select markets
2022 2023 2024 2025
Q2
Q3
2Excludes China, Vietnam, and other specified regions

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2022 2023 2024 2025
FC Franchise Revenue
FC Franchise
FC ONLINE 1
• Revenue up Y/Y and Q/Q driven by 7 th Anniversary update despite
typically lower seasonality
• Expect sustained player engagement in Q3 with TOTS (Team of the
Season) update and Legendary Players’ promotion in September
FC MOBILE 2
• Revenue exceeded expectations
Q2 Results Exceeded Guidance
Expect Sustained Player Engagement in Q3
Q2
Q1
Q2
Q1
Q4
Q3
1Official title is EA SPORTS FC TMONLINE (PC) and EA SPORTS FC TMONLINE M (mobile).
2Official title is EA SPORTS FC TMMOBILE .
Q3

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Mabinogi Franchise
Vindictus : Defying Fate
• Conducted a highly successful alpha test in June
and became the Most -Played Demo in the Steam
Next Fest
Tracking to Deliver on its Potential to Become the New Pillar of Sustainable Contributor
MABINOGI MOBILE
• Exceeded our outlook in Q2 with strong MAUs, PUs,
and ARPPU
• Focus on peaceful lifestyle elements differentiates
the game from traditional combat -focused
MMORPGs and resonates well with players
• Expect some moderation, but a significant
contribution in Q3

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Shooters
The First Descendant
• Within expected range in Q2
• Released large Season 3 update on
August 7; anticipate almost triple
quarterly revenue sequentially
THE FINALS
• Exceeded our outlook, driven by the well –
received Season 7 update
• Studio and Live Operations teamwork
returned the game to a growth trajectory
• Granted ISBN license in China; Tencent
began a closed alpha on August 8
ARC Raiders
• Announced October 30 release
• Ranked top #6 on Steam’s Top
Wishlists worldwide

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Q2 2025 Results

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2Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile) . 1Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the c urrent period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
122.5 118.9
45.2 37.7 39.9
16.8
Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025
Q2 2025 Financial Highlights
Constant -Currency 1Revenue Grew 6% Y/Y Driven by Revitalized Momentum in Established Games And Solid Results from New Titles
Revenues Operating Income Net Income 3 (Unit: ¥ millions, except per share data) (Unit: ¥ billions)
Revenues
• Exceeded outlook, driven by MapleStory , FC ONLINE 2,
Dungeon&Fighter (PC), MABINOGI MOBILE, and
MapleStory Worlds , partially offset by shortfalls in
Dungeon&Fighter Mobile in China
• Y/Y, growth in Dungeon&Fighter (PC) and
MapleStory franchises and contributions from new
titles were offset by decreases in Dungeon&Fighter
Mobile in China
Operating Income
• Exceeded outlook driven by revenue outperformance
• Y/Y decrease primarily due to a revenue mix change
in relation to a decline from Dungeon&Fighter Mobile
Net Income 3
• Below expectations. Operating income
outperformance was offset by a ¥17.5 billion FX
loss primarily on U.S. dollar -denominated cash
deposits
• We recognized a ¥17.5 billion FX loss in Q2 2025
while recording a ¥8.2 billion FX gain in Q2 2024,
which led to a Y/Y decrease in net income 2
3Net income refers to net income attributable to the owners of the parent.As- Constant
Q2 2024 Q2 2025 Reported Currency 1
Revenues ¥122,474 ¥99,618 ~ ¥110,255 ¥118,850 (3%) 6%
PC/Console 56,881 68,258 ~ 74,076 84,482 49% 62%
Mobile 65,593 31,360 ~ 36,179 34,368 (48%) (43%)
Operating income 45,224 22,506 ~ 31,055 37,698 (17%) (10%)
Net income 3 39,878 16,820 ~ 23,277 16,758 (58%) (54%)
Earnings per share 47.66 20.84 ~ 28.84 20.82
Exchange rates
100 KRW/JPY 11.38 10.02 10.02 10.34 (9%)
CNY/JPY 21.78 19.90 19.90 20.04 (8%)
USD/JPY 155.88 144.49 144.49 144.59 (7%)
YoY % Change
Q2 2025 Outlook

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71%
29%
60% 23%
2%
8%
7%
Region 1 Platform
3Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
Q2 2025 Revenue Breakdown
1Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
2“Rest of World” includes other Asian countries as well as Central and South American countries.
(Unit: ¥ millions)
Region 1 Platform
Korea 60 %
China 23%
Japan 2%
North America & Europe 8%
Rest of World 27%
PC/Console 71%
Mobile 29%As- Constant As- Constant
Reported Currency 3 Reported Currency 3
Revenue by Region 1
Korea ¥48,870 ¥71,006 ¥78,110 45% 60%
China 56,340 26,871 28,565 (52%) (49%)
Japan 4,556 2,983 3,170 (35%) (30%)
North America and Europe 7,044 9,457 10,177 34% 44%
Rest of World 2 5,664 8,533 9,277 51% 64%
Nexon Total 122,474 118,850 129,299 (3%) 6%
Revenue by Platform
PC/Console 56,881 84,482 91,936 49% 62%
Mobile 65,593 34,368 37,363 (48%) (43%)
Nexon Total 122,474 118,850 129,299 (3%) 6%
FX Rate
100 KRW/JPY 11.38 10.34 11.38 (9%)
CNY/JPY 21.78 20.04 21.78 (8%)
USD/JPY 155.88 144.59 155.88 (7%)
Q2 2025 YoY % Change
Q2 2024

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108.4 113.9
29.1 41.6 35.9 26.3
122.5 118.9
45.2 37.7 39.9
16.8
230.9 232.8
74.4 79.3 75.8
43.0
2024 2025 2024 2025 2024 2025
Q2 2025 Accumulated Results
Revenues Operating Income Net Income 3
Q2 Accumulated (Unit: ¥ billions)
(Unit: ¥ millions, except per share data)
Q2
Q1
4Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
1Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
2“Rest of World” includes other Asian countries as well as Central and South American countries.
3Net income refers to net income attributable to owners of the parent.Constant Constant
Currency 4 Currency 4
Revenue by Region 1
Korea ¥106,210 ¥125,258 ¥135,611 18% 28%
China 85,522 64,451 65,765 (25%) (23%)
Japan 8,186 6,952 7,287 (15%) (11%)
North America and Europe 16,963 20,313 21,373 20% 26%
Rest of World 2 14,011 15,810 16,944 13% 21%
Nexon Total 230,892 232,784 246,980 1% 7%
Revenue by Platform
PC/Console 136,178 162,078 172,335 19% 27%
Mobile 94,714 70,706 74,645 (25%) (21%)
Nexon Total 230,892 232,784 246,980 1% 7%
Operating income 74,370 79,309 82,351 7% 11%
Net income 3 75,796 43,030 43,985 (43%) (42%)
Earnings per share 90.44 53.04
Q1-Q2 2024 As-Reported As-Reported
Q1-Q2 2025 YoY % Change

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12,762 11,264 8,988 11,730 17,958
36,108 36,044 32,516
42,522
53,048
48,870 47,308
41,504
54,252
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
1Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile) . 2Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
Q2 2025 Korea – Highlights
(Unit: ¥ millions)
PC/Console
Mobile
Y/Y% change:
As Reported: +45%
Constant Currency 2: +60%
3Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.4The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders.
Exceeded Outlook, Driven by MapleStory , Dungeon&Fighter , MABINOGI MOBILE , and FC ONLINE 1
• PC/Console revenues up 47% Y/Y
‐ Y/Y increase primarily driven by PC revenue of MABINOGI MOBILE , Dungeon&Fighter and MapleStory
‐ Dungeon&Fighter : Exceeded outlook and set record -high revenue for second consecutive quarter.
Both MAUs and PUs nearly doubled Y/Y, driving 132% revenue growth
‐ MapleStory : Grew 91% Y/Y and set Q2 record, significantly exceeding our expectations. The summer
update delivered a significant increase of active players and an all -time high market share of 25% in
PC Cafes
‐ FC ONLINE 1: Exceeded expectations and grew Y/Y driven by 7 thanniversary update
• Mobile revenues up 41 % Y/Y and up 53 % Q/Q
‐ MABINOGI MOBILE maintained momentum , exceeding our outlook with strong MAUs, PUs and ARPPU
‐ Both Y/Y and Q/Q, a contribution from MABINOGI MOBILE was partially offset by other mobile titles
71,006
No .1 PC/Console
EA SPORTS FC TMONLINE
EA SPORTS FC TMONLINE M
No .1 Mobile
No.2 No.3
EA SPORTS FC TMMOBILE
MapleStory
No.2
MABINOGI MOBILE
Revenue Ranking by Region 3
Mabinogi
Mobile
Dungeon&Fighter
No.4
Sudden Attack
No.5
MABINOGI MOBILE
No.3
No.4
MapleStory M
No.5
Blue Archive

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44,186 44,961
15,749 18,066 10,039
12,154 12,195
5,689
19,514
16,832
56,340 57,156
21,438
37,580
26,871
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Q2 2025 China – Highlights
PC/Console
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: -52%
Constant Currency 1: -49%
Results as Planned . Dungeon&Fighter (PC) Exceeded Outlook While
Dungeon&Fighter Mobile was Below Outlook
• Dungeon&Fighter (PC):
‐ Exceeded outlook; up Y/Y
‐ Delivered strong sales from the Labor Day update; The Anniversary update successfully brought
back dormant users; June MAUs and PUs reached the highest point this year
‐ Y/Y MAUs and paying users decreased while ARPPU increased. While MAUs in April and May were
lower, in June the successful Anniversary update helped MAUs recover to the last year’s level
‐ Q/Q MAUs and paying users increased while ARPPU decreased due to typical seasonality
• Dungeon&Fighter Mobile :
‐ Below outlook; the May Anniversary was less effective than expected at retaining returning
players
3Official title of MapleStory Min China .
1Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
2Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
4The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders.
Counter Strike Online MapleStory
Revenue Ranking by Region 2
No .1 PC/Console No .2 No .3
Dungeon&Fighter
No .1 Mobile No .2 No .3
Dungeon&Fighter Mobile Blue Archive MapleStory : The Legend of Maple 3

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2Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
2,763 2,595 1,595 1,940 1,380
1,793
3,393
1,999 2,029
1,603
4,556
5,988
3,594 3,969
2,983
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Q2 2025 Japan – Highlights
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: -35%
Constant Currency 2: -30%
3Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.4The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders.
Slightly Below Outlo ok Due to HIT : The World 1
• Down Y/Y. Contributions from The First Berserker: Khazan and The First Descendant
were more than offset by a decrease in HIT : The World 1
• Blue Archive : Down Y/Y
• MapleStory : Down Y/Y
1Official title for HIT2 serviced in Japan.
PC /Console
Revenue Ranking by Region 3
Mabinogi The First Berserker: Khazan
No .1 PC/Console No .2 No .3
No .1 Mobile No .2 No .3
Blue Archive MapleStory M
MapleStory
HIT : The World 1

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3,347 2,881 1,793 2,022
1,227
3,697
14,307
6,578 8,834 8,230
7,044
17,188
8,371
10,856 9,457
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Q2 2025 North America and Europe – Highlights
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: +34%
Constant Currency 1: +44%
1Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
2Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.3The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders.
Exceeded Outlook Driven by DAVE THE DIVER and THE FINALS
• Revenue increased Y/Y. C ontributions from The First Berserker: Khazan and The First
Descendant as well as Y/Y growth in MapleStory were partially offset by decreases
in mobile titles
• The First Berserker: Khazan :Within expected range. Summer campaign began in
June with new content and promotion
• The First Descendant :Within expected range
• THE FINALS : Exceeded outlook driven by the well -received Season 7 update in June
• MapleStory :
‐ Grew 36% Y/Y, driven by successful 20 thAnniversary and collaboration events
‐ Summer update generated highly positive feedback from player community
PC /Console
Revenue Ranking by Region 2
THE FINALS
No .1 PC/Console No .2 No .3
No .1 Mobile No .2 No .3
MapleStory M HIT 2 Blue Archive
The First Berserker: Khazan MapleStory

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2,535 3,099 2,048 2,580 3,764
3,129
4,854
2,771
4,697
4,769 5,664
7,953
4,819
7,277
8,533
Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
1“Rest of World” includes other Asian countries as well as Central and South American countries.2Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
Q2 2025 Rest of World 1 – Highlights
PC /Console
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: +51%
Constant Currency 2: +64%
3Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
4The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders.
Exceeded Outlook Driven by MapleStory Worlds
• Significantly up Y/Y. Contributions from MapleStory Worlds were slightly offset by
revenue decrease in MapleStory and Blue Archive
• MapleStory Worlds :
‐ Following the regional expansion in April, it generated solid revenue with a growing and
deeply engaged player base
‐ Performed exceptionally well in Taiwan
• MapleStory : Down Y/Y
• MapleStory M: Grew Y/Y
Revenue Ranking by Region 3
The First Berserker: Khazan MapleStory
No .1 PC/Console No .2 No .3
No .1 Mobile No .2 No .3
MapleStory M HIT 2 Blue Archive
MapleStory Worlds

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27,797 31,464 35,185 31,996
40,212 41,552 36,437 35,139 34,702
11,206
11,378 8,768 11,862
10,304 10,617
7,989 10,850 15,650 9,828
11,625 9,084 9,476
7,762 9,799
6,108 7,925
10,243
7,219
7,669 11,380 5,430
4,816
7,722
10,745 5,174
5,596 907
910 1,696
1,012
1,338
1,094
1,094 1,059
1,148
10,130
10,582
11,734
13,504
12,177
11,724
12,244 12,262
15,059
67,087
73,628
77,847
73,280
76,609
82,508
74,617 72,409
82,398
Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Total
Other
D&A
Marketing
PG fee
Royalty
HR Costs
Cost Breakdown
1HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A). 4In MapleStory Worlds , if a player spends in the content, Nexon receives the payment and pays a specific ratio of that payment to the content prov ider as a creator fee. 5MapleStory Worlds is a content creation platform in which users can use MapleStory assets to create their own game and share it with other players
(Unit: ¥ millions)
Q2 Results
Y/Y and Q/Q Analysis
• HR Costs 1: Decreased primarily due to
reduced performance -based bonus
• Royalty: Increased due to higher sales from
publishing titles including MABINOGI MOBILE
and FC ONLINE 2
• PG Fee: Increased due to MABINOGI MOBILE
• Marketing Costs: Increased primarily due to
MABINOGI MOBILE, MapleStory , FC ONLINE 2
• Other 3: Increased due to fees to creators 4
in relation to higher sales from MapleStory
Worlds 5
1
3
3Aggregation of Others (COGS) and Others (SG&A) which includes cloud service costs, outsourcing expenses, and fees to creators in MapleStory Worlds
2Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile) .

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Q3 2025 Outlook

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1MapleStory Worlds is a content creation platform in which users can use MapleStory assets to create their own game and share it with other players
108.4 113.9
29.1 41.6 35.9 26.3
122.5 118.9
45.2 37.7 39.9 16.8
135.6 127.1
51.5 41.2 27.0
32.8
366.5 359.9
125.9 120.5 102.8 75.8
2024 2025 2024 2025 2024 2025
4Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
Revenues Operating Income Net Income 3
Q3 Accumulated (High -end) (Unit: ¥ billions)
Forex sensitivity 5: Every one Japanese yen move against the U.S. dollar would have the following impact on our financials for Q3 2025
Revenues 0.83 billion yen Operating Income 0.23 billion yen
Expect Strong Growth in Core PC Titles and Solid Contributions from New Titles; Y/Y Decline Due to Dungeon&Fighter Mobile
and The First Descendant
Revenues
• Expect strong double -digit growth in
Dungeon&Fighter (PC) and MapleStory , along with
solid contributions from MABINOGI MOBILE and
MapleStory Worlds 1
• Expect a significant Y/Y decline in
Dungeon&Fighter Mobile and The First Descendant
Operating Income
• Expect a Y/Y de crease due to a revenue decline
• Expect increased PG fees, royalty expenses, and
marketing expenses, fees to creators 2
• Expect a gain of ¥ 4.0 billion associated with the
liquidation of our subsidiary funds
Net Income 3
• Expect a Y/Y increase despite the year -over -year
operating income decrease
• This is due to the comparison against the ¥19.6
billion FX loss in Q3 2024
(Unit: ¥ millions, except per share data)
5In most situations, the exchange rates of both the South Korean Won and the Chinese Yuan are linked to the U.S. Dollar. For simplicity, forex sensitivity is calculated based on the assumption that Korean Won and Chinese Yuan move similarly against Japanese Yen when there is an exchange rate movement in U.S. Dollar and Japanese Yen.
Q3 2025 Financial Outlook
3Net income refers to net income attributable to owners of the parent.
Q2Q1
Q3
2In MapleStory Worlds , if a player spends in the content, Nexon receives the payment and pays a specific ratio of that payment to the content provider as a creator fee.Q3 2024
Revenues ¥135,593 ¥116,567 ~ ¥127,114 (14%) ~ (6%) (12%) ~ (4%)
PC/Console 70,793 83,606 ~ 89,318 18% ~ 26% 21% ~ 30%
Mobile 64,800 32,961 ~ 37,796 (49%) ~ (42%) (48%) ~ (40%)
Operating income 51,535 32,730 ~ 41,154 (36%) ~ (20%) (35%) ~ (18%)
Net income 3 27,023 26,398 ~ 32,783 (2%) ~ 21% 0% ~ 24%
Earnings per share 32.55 33.02 ~ 41.01
FX Rate Assumptions
100 KRW/JPY 11.03 10.68 10.68 (3%)
CNY/JPY 20.89 20.49 20.49 (2%)
USD/JPY 149.38 146.74 146.74 (2%)
YoY % Change
As-Reported Constant Currency 4 Q3 2025 Outlook

22 © 2025 NEXON Co., Ltd. All Rights Reserved.
57,340 54,252
48,870 71,006
47,308
72,521 153,518
197,779
2024 2025
29,182 37,580
56,340 26,871
57,156
29,397
142,678
93,848
2024 2025
1Official title is EA SPORTS FC ONLINE (PC).
(High -end)
China
Expect Revenues to Decrease Y/Y Due to Dungeon&Fighter Mobile Despite
Double -digit Growth in Dungeon&Fighter (PC)
• Dungeon&Fighter Mobile
‐ Expect modest sequential revenue growth driven by a series of updates during
the quarter beginning with the July level cap increase
‐ Expect to decrease Y/Y
• Dungeon&Fighter (PC)
‐ Introduced Summer update (7/10); scheduled to introduce the National Day
update (September)
‐ Expect double -digit Y/Y growth while anticipating a sequential decline
Q3 2025 Korea / China Outlook
2Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to t he current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
(High -end)
(Unit: ¥ millions)
Q2
Korea
Expect Revenues to In crease Y/Y Driven by MapleStory ,MABINOGI MOBILE
and Dungeon&Fighter
• PC/Console: Expect to increase Y/Y
‐ Expect MapleStory to more than double Y/Y driven by additional content
releases to maintain the strong momentum
‐ Expect Dungeon&Fighter to increase significantly Y/Y while anticipating a
sequential decline
‐ Expect FC ONLINE 1to be roughly flat Y/Y
• Mobile: Expect to increase Y/Y
‐ Expect MABINOGI MOBILE to make asignificant contribution while
anticipating some sequential moderation
Q2
Q1 Q1
Q3
Q3Q3 2024
47,308 68,211 ~ 72,521 44% ~ 53% 49% ~ 58%
Q3 2025 Outlook YoY % Change
Constant
Currency 2 Actual Low-end High-end As-Reported Q3 2024
57,156 25,291 ~ 29,397 (56%) ~(49%) (55%) ~(48%)
Q3 2025 Outlook YoY % Change
Constant
Currency 2 As-Reported Low-end High-end Actual

23 © 2025 NEXON Co., Ltd. All Rights Reserved.
8,347 7,277
5,664 8,533
7,953
11,483
21,964
27,293
2024 2025
9,919 10,856
7,044 9,457
17,188 9,836
34,151
30,149
2024 2025
3,630 3,969
4,556 2,983
5,988 3,877
14,174
10,829
2024 2025
1Rest of World includes other Asian countries as well as Central and South American countries.
(Unit: ¥ millions)
Q3 2025 Japan / North America and Europe /
Rest of World 1 Outlook
Japan
Expect Revenues to Decrease Y/Y
• Expect Y/Y decreases in The First Descendant and
HIT : The World 2
• Expect a Y/Y increase in MapleStory
North America and Europe
Expect Revenues to Decrease Y/Y
• Expect a significant Y/Y decrease in The First
Descendant ,which delivered a successful launch
in July 2024
• Expect to benefit from The First Berserker: Khazan
and MapleStory Worlds
• Expect a Y/Y increase in THE FINALS
Rest of World 1
Expect Revenues to Increase Y/Y
• Expect a significant contribution from MapleStory
Worlds, which sustains its good momentum from Q2
• Expect Y/Y decreases in The First Descendant and
MapleStory
3Constant currency is a non -GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant -currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period. As an example, we calculate royalty revenues from China Dungeon&Fighter by applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year’s same fiscal quarter.
(High -end) (High -end) (High -end)
2Official title for HIT2 serviced in Japan.
Q2
Q2
Q2
Q1
Q1 Q1
Q3
Q3
Q3Q3 2024
7,953 10,797 ~ 11,483 36% ~ 44% 39% ~ 48%
Q3 2025 Outlook YoY % Change
Actual Low-end High-end As-Reported Currency 3 Constant Q3 2024
17,188 8,894 ~ 9,836 (48%) ~(43%) (47%) ~(42%)
Q3 2025 Outlook YoY % Change
Actual Low-end High-end As-Reported Currency 3 Constant Q3 2024
5,988 3,374 ~ 3,877 (44%) ~(35%) (43%) ~(34%)
Q3 2025 Outlook YoY % Change
Currency 3 Actual Low-end High-end As-Reported Constant

24 © 2025 NEXON Co., Ltd. All Rights Reserved.
51.5
34.7
39.7 41.2
8.5
5.2
3.1 5.0
1.5
Operating Income
2024 Q3
Revenue decrease Variable Costs Marketing Costs HR Costs Other Operating Income
2025 Q3
(High-end)
Q3 2025 Operating Income & Cost Outlook
1HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A) .
2In MapleStory Worlds , if a player spends in the content, Nexon receives the payment and pays a specific ratio of that payment to the content provider as a creator fee.) .
3MapleStory Worlds is a content creation platform in which users can use MapleStory assets to create their own game and share it with other players
(Unit: ¥ billions )
Y/Y Analysis
Q3 Outlook
• Variable Costs: Expect to increase due to
higher Royalty and PG Fee associated with
MABINOGI MOBILE , which is developed by our
joint venture studio
• Marketing: Expect to increase due to
promotions for FC and MapleStory franchises
as well as MABINOGI MOBILE and ARC Raiders
• HR Costs 1: Expect to decrease due to a
decline in performance -based bonuses
• Other includes:
o Increased fees to creators 2in
MapleStory Worlds 3
o ¥4.0 billion gain associated with
liquidation of subsidiary funds
1
Y/Y Operating Income Comparison (High -end)

25 © 2025 NEXON Co., Ltd. All Rights Reserved.
6.3
50.0
25.0
25.0
27.8
16.0
98.8
77.4
51.4
2020 2021 2022 2023 2024 2025 (E)
Buy -Back History
Shareholder Return
Buy -Back
▪ Completed ¥50 billion share repurchase on June 25
▪ Approved execution of the repurchase for ¥25 billion
worth of shares from August 14 to October 31
▪ Plan to complete the repurchases 1of the remaining
¥25 billion by February 2026
Dividend
▪ Approved the semi -annual dividend payment of ¥15
per share
▪ Maintaining the year -end dividend forecast of ¥15
per share, for a total annual dividend of ¥30 per
share in 2025
Completed ¥50 Billion Share Repurchase in June; Approved Execution of ¥25 billion Share Repurchase by October
Completed in
June
Scheduled to
be completed by
February 2026
(Unit: ¥ billions )
Completed in
January
1We plan to execute share repurchase with the consideration of factors including investment opportunities, financial condition s, and the market environment.
Scheduled to be
executed from
August to October

26 © 2025 NEXON Co., Ltd. All Rights Reserved.
Pipeline

27 © 2024 NEXON Co., Ltd. All Rights Reserved.
1Includes all the regions other than Korea, China and Japan
ARC Raiders
October 30, 2025
Korea, Japan, Global 1
New
PvPvE Extraction Shooter
Developer/Publisher
PC Console
· Launch Schedule
· Region
· IP
· Genre
· Business Model
MapleStory : Idle RPG
2025 2H
Global 2
MapleStory
Idle RPG
Developer 3/Publisher
Mobile
· Launch Schedule
· Region
· IP
· Genre
· Business Model
NAKWON: LAST PARADISE
TBD
Korea, Global 1
New
Extraction Survival
Developer/Publisher
PC
· Launch Schedule
· Region
· IP
· Genre
· Business Model
2Excludes China, Vietnam, and other specified regions 4The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders
5Chart is illustrative excerpt of pipeline. 3Co-development with Able Games

28 © 2024 NEXON Co., Ltd. All Rights Reserved.
Project DX 1
· Launch Schedule
· Region
· IP
TBD
Korea, Japan, Global 2
Durango
· Genre
· Business Model
MMORPG
Developer/Publisher
PC Console
2Includes all the regions other than Korea, China and Japan
1Tentative title. 3The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders
Vindictus : Defying Fate
· Launch Schedule
· Region
· IP
TBD
Korea, Global 2
Vindictus (Mabinogi: Heroes)
· Genre
· Business Model
Action RPG
Developer/Publisher
PC Console
Project RX 1
· Launch Schedule
· Region
· IP
TBD
TBD
New
· Genre
· Business Model
Anime -style Game
Developer/Publisher
TBD
3The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders4Chart is illustrative excerpt of pipeline.

29 © 2024 NEXON Co., Ltd. All Rights Reserved.
Woochi the Wayfarer
· Launch Schedule
· Region
· IP
TBD
Korea, Japan, Global 1
New
· Genre
· Business Model
Action Adventure
Developer/Publisher
Project OVERKILL 2
· Launch Schedule
· Region
· IP
TBD
TBD
Dungeon&Fighter
· Genre
· Business Model
3D Action RPG
Developer/Publisher
PC Mobile
Dungeon&Fighter : ARAD
· Launch Schedule
· Region
· IP
TBD
Korea, Global 1
Dungeon&Fighter
· Genre
· Business Model
Open -world, action RPG
Developer/Publisher
Mobile Console PC
1Includes all the regions other than Korea, China and Japan
2Tentative title.
PC
3The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material are trademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders4Chart is illustrative excerpt of pipeline.
Console

30 © 2025 NEXON Co., Ltd. All Rights Reserved.
Appendix

31 © 2025 NEXON Co., Ltd. All Rights Reserved.
Summary of Results and Key Operational Metrics
(Unit: ¥ millions , except per share data )
1“Rest of World” includes other Asian countries as well as Central and South American countries.
2Net income refers to net income attributable to owners of the parent.Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 YoY%
(By Region)
Korea ¥57,340 ¥48,870 ¥47,308 ¥41,504 ¥54,252 ¥71,006 45%
China 29,182 56,340 57,156 21,438 37,580 26,871 (52%)
Japan 3,630 4,556 5,988 3,594 3,969 2,983 (35%)
North America and Europe 9,919 7,044 17,188 8,371 10,856 9,457 34%
Rest of World 1 8,347 5,664 7,953 4,819 7,277 8,533 51%
(By Platform)
PC/Console 79,297 56,881 70,793 49,553 77,596 84,482 49%
Mobile 29,121 65,593 64,800 30,173 36,338 34,368 (48%)
Revenue 108,418 122,474 135,593 79,726 113,934 118,850 (3%)
Operating income (loss) 29,146 45,224 51,535 (1,729) 41,611 37,698 (17%)
Net income 2 35,918 39,878 27,023 32,029 26,272 16,758 (58%)
Earnings per share 42.77 47.66 3 2.55 3 8.71 3 2.12 20.82
FX rate
100 KRW/JPY 11.19 11.38 11.03 10.93 10.53 10.34 (9%)
CNY/JPY 20.79 21.78 20.89 21.24 21.08 20.04 (8%)
USD/JPY 148.61 155.88 149.38 152.44 152.60 144.59 (7%)
PC and Console KPI
MAU (millions) 18.3 14.1 17.6 13.3 12.9 13.4 (5%)
PU (millions) 3.1 2.6 2.9 1.9 2.4 2.6 2%
Pay Rate 17.0% 18.5% 16.2% 14.2% 18.6% 19.7%
ARPPU (as-reported) 12,545 9,279 11,939 9,942 16,137 12,472 34%

32 © 2025 NEXON Co., Ltd. All Rights Reserved.
COGS and SG&A 1
(Unit: ¥ millions)
1Breakdown of COGS and SG&A are unaudited.
2Royalty includes royalties paid to third -party developers in order for us to obtain the right to publish their games.
4Other (COGS) primarily consists of depreciation and amortization of assets related to existing games, connection fees (mainly comprised of co -location and datacenter fees, internet bandwidth and access fees), and the costs of purchasing and maintaining our servers and computer equipment. 3HR cost (COGS) includes salaries, bonuses and benefits for our live game developers, who support post launch servicing, updating and support for our games.
5PG fee in SG&A includes commissions made to external payment gateway companies when users purchase in – game items in PC Online games that we service. It also includes mobile carrier -related commissions we pay regarding our Japanese mobile browser games, commissions we pay to Apple/Google regarding our mobile native games globally, commissions we pay toSteam regarding our PC online games globally and platform commission fees related to mobile browser games.
6Other Income includes other non -operating income, reversal of deferred revenue and gain on sale of properties.
7Other Expense includes other non -operating expenses, loss on sale/disposal of properties, loss on impairment of tangible fixed assets, and loss on impairment of intangible assets and loss on other non -current assets. It also includes impairment loss of game IPs and goodwill. FY2024 FY2025
Q1 Q2 Q3 Q4 Q1 Q2
Total Cost of Revenue 1 ¥40,557 ¥44,187 ¥46,124 ¥33,970 ¥39,244 ¥47,225
Royalty 2 11,862 10,304 10,617 7,989 10,850 15,650
HR cost (COGS) 3 19,131 25,739 27,592 17,370 20,072 20,872
Other (COGS) 4 9,564 8,144 7,915 8,611 8,322 10,703
Total SG&A 1 32,723 32,422 36,384 40,647 33,165 35,173
HR cost 7,454 8,234 7,559 12,174 8,360 7,373
PG fee 5 9,476 7,762 9,799 6,108 7,925 10,243
R&D 5,411 6,239 6,401 6,893 6,707 6,457
Marketing/advertising expenses 5,430 4,816 7,722 10,745 5,174 5,596
Depreciation and amortization 1,012 1,338 1,094 1,094 1,059 1,148
Other 3,940 4,033 3,809 3,633 3,940 4,356
Other Income 6 199 295 148 397 250 1,452
Other Expense 7 6,191 936 1,698 7,235 164 206
Includes: impairment loss 6,161 214 68 6,989 41 198

33 © 2025 NEXON Co., Ltd. All Rights Reserved.
1Finance Income includes interest income primarily on cash deposits. 2024 Q1, Q2, Q4 Finance Income includes FX conversion gains related to foreign currency deposits and accounts receivable.22024 Q3 and 2025 Q1, Q2 Finance Costs are primarily caused by FX conversion loss related to foreign currency deposits and accounts receivable.
4Net income refers to net income attributable to the owners of the parent.
(Unit: ¥ millions)
P&L Below Operating Income
3Reversal of loss on revaluation refers to the reversal of loss on revaluation of cryptocurrency.FY2024 FY2025
Q1 Q2 Q3 Q4 Q1 Q2
Operating Income (Loss) ¥29,146 ¥45,224 ¥51,535 (¥1,729) ¥41,611 ¥37,698
Finance Income 1 25,680 19,325 8,753 45,581 6,876 9,110
Finance Costs 2 518 608 20,323 1,592 6,642 18,257
Reversal of loss on revaluation 3 692 – – – – –
Equity profit / (loss) of affiliates, equity
method companies (761) (2,507) (1,058) (853) (1,500) 1,128
Impairment loss of investments
accounted for using equity method – – – – (1,644) (835)
Income / before Income Tax 54,239 61,434 38,907 41,407 38,701 28,844
Tax expense 18,288 22,046 10,211 9,226 12,378 12,961
Non-controlling interests 33 (490) 1,673 152 51 (875)
Net income 4 35,918 39,878 27,023 32,029 26,272 16,758

34 © 2025 NEXON Co., Ltd. All Rights Reserved.
Cash Flow Statement
(Unit: ¥ millions)6 months ended 6 months ended
June 30, 2024 June 30, 2025
Cash flows from operating activities ¥34,309 ¥88,059
Cash flows from investing activities (67,856) 49,734
Cash flows from financing activities (32,421) (70,845)
Net increase / (decrease) in cash and cash equivalents (65,968) 66,948
Cash and cash equivalents at beginning of fiscal year 280,515 331,931
Effect of exchange rate change on cash and cash equivalents 15,475 (12,513)
Cash and cash equivalents at end of fiscal year 230,022 386,366

35 © 2025 NEXON Co., Ltd. All Rights Reserved.
Balance Sheet
(Unit: ¥ millions)December 31, June 30,
2024 2025
Liability
Current liabilities
Current tax liabilities 19,103 18,426
Current borrowings – –
Others 88,559 87,818
Total current liabilities 107,662 106,244
Noncurrent liabilities
Non-current borrowings – –
Others 118,584 116,835
Total noncurrent liabilities 118,584 116,835
Total liabilities 226,246 223,079
Shareholders’ equity
Capital stock 50,797 52,069
Capital surplus 30,079 31,071
Treasury shares (49,158) (53,523)
Other equity interest 207,098 251,318
Retained earnings 780,197 760,858
Non-controlling interests 11,512 10,249
Total equity 1,030,525 1,052,042
Total liabilities and total equity 1,256,771 1,275,121 December 31, June 30,
2024 2025
Asset
Current Assets
Cash and cash equivalents ¥331,931 ¥386,366
Other deposits 268,934 210,104
Other current assets 151,408 121,530
Total current assets 752,273 718,000
Noncurrent assets
Tangible assets 28,365 28,519
Goodwill 44,567 45,995
Intangible assets 34,815 35,474
Investments accounted for using equity method 63,669 65,642
Other non-current financial assets 268,310 333,795
Others 64,772 47,696
Total noncurrent assets 504,498 557,121
Total assets 1,256,771 1,275,121

36 © 2025 NEXON Co., Ltd. All Rights Reserved.
Number of Employees by Reporting Segment
1We have corrected errors in our previously disclosed figures for Employees in Korea, Total Employees, and Temporary Workers as of March 31, June 30, September 30, and December 31, 2024.March 31 June 30 September 30 December 31 March 31 June 30
2024 2024 2024 2024 2025 2025
Japan 258 251 243 238 239 237
Korea 1 7,526 7,524 7,762 7,962 8,083 8,111
China 190 192 192 186 189 187
North America 311 236 196 186 180 179
Others 683 679 737 757 810 842
Total 1 8,968 8,882 9,130 9,329 9,501 9,556
254 241 137 94 292 309
Full-time Employees
Temporary Workers 1

37 © 2025 NEXON Co., Ltd. All Rights Reserved.
100.2 127.0 138.7 148.3 139.8 183.5 198.9 188.0 195.9 196.4 243.9 304.2 256.5 8.2
28.4 34.2 42.0 43.3
51.4 54.9 60.6 97.1 78.1
109.8
119.2 189.7
108.4
155.3 172.9 190.3 183.1
234.9 253.7 248.5
293.0 274.5
353.7
423.4 446.2
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24
28.7 43.0 65.4 77.0 74.2 80.5 73.8 89.8
165.0 154.7 212.9 255.3 195.0
48.4 63.9 67.0 75.4 74.2 115.4 133.0 112.2
81.2 73.6
86.4
100.5 164.1
19.2
36.4 29.9 21.0 16.9
17.1 14.1 13.9
10.4 10.5
10.5
11.9 17.8
7.8
8.0 7.9 12.5 11.4
12.1 21.5 19.5
19.9 18.7
20.1
27.7 42.5
4.4
4.1 2.7 4.4 6.4
9.8 11.4 13.2
16.5 17.0
23.8
27.9 26.8
108.4
155.3 172.9 190.3 183.1
234.9 253.7 248.5
293.0 274.5
353.7
423.4 446.2
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24
PC/
Console
57%
Mobile
43%
Korea
44%
China
37%
Japan4%
Rest of World 2
6%
Mobile
Historical Financials
(Unit: ¥ billions)
Revenue by Region 1
Korea China Japan North America and Europe Rest of World 2
Revenue by Platform
PC/Console
1Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
2“Rest of World” includes other Asian countries as well as Central and South American countries.
3FY16 and FY19 grew Y/Y on a constant currency basis.
FY2024
Revenue by
Region 1
FY2024
Revenue by
Platform
3 3
3 3
North America and Europe 9%

38 © 2025 NEXON Co., Ltd. All Rights Reserved.
This presentation is prepared to offer reference information about NEXON group to the investors and is intended to generally pro vide investors and analysts with financial and operational
information about Nexon, but not to solicit or recommend any sale or purchase of stock or other securities of Nexon. NEXON Co ., Ltd. (“Nexon”) has not verified and would assume no responsibility for
the accuracy, appropriation, or completeness thereof. This presentation does not contain all relevant information relating to Ne xon or the sale of its shares, including, without limitation, the
information that would be stated under the captions “Risk Factors”, “Management’s Discussion and Analysis of Financial Condit ion and Results of Operations” and “Business” in an annual report. Any
investment decision with respect to any shares of Nexon should be made solely upon the basis of the information contained in the disclosure documents and is qualified in its entirety by reference
to the detailed information appearing in the disclosure documents.
This presentation includes non -GAAP and non -IFRS financial measures, including but not limited to key performance indicators, as well as ratios calculated on the basis thereof. These non -GAAP
and non -IFRS financial measures should not be considered in isolation or as a substitute for the most directly comparable financ ial measures included in our consolidated financial statements and
presented in accordance with IFRS.
This presentation includes forward -looking statements. In some cases, you can identify forward -looking statements by terms such as “anticipate”, “assume”, “believe”, “estimate”, “expect”, “forecast”,
“may”, “plan”, “potential”, “predict”, “seek”, “should”, or “will”, or by other similar terminology. These statements discuss expectations, identify strategies, contain projections of Nexon’s financial
condition or results of operations or state other forward -looking information. The forward -looking statements in this presentati on are subject to various risks, uncertainties and assumptions about
Nexon’s business and results of operations. The expectations expressed in these forward -looking statements may not be achieved, and actual results could differ materially from and be worse than
expectations. Potential risks and uncertainties that could cause actual results to differ materially from expectations includ e, without limitation:
• Continued growth and popularity of Nexon’s key titles;
• Nexon’s ability to maintain favorable relationships with key licensing partners;
• Nexon’s continued ability to offer games in China, through local partners or otherwise;
• Nexon’s ability to compete effectively in the online games industry;
• Nexon’s ability to address hacking, viruses, security breaches and other technical challenges;
• Fluctuations in currency exchange rates;
• Nexon’s ability to maintain and further develop its brand name;
• Effective acquisition of new companies, businesses, technologies and games from third parties and the possibility of recogniz ing impairment losses;
• Continued growth of the online games market, including the underlying infrastructure, and free -to-play/item -based revenue genera tion model;
• Nexon’s ability to adapt to new technologies;
• Nexon’s ability to enter into licensing arrangements for third -party titles on terms favorable to it;
• Effective defense of Nexon’s intellectual property; and
• Legislative, regulatory, accounting and taxation changes in the countries in which Nexon operates.
Nexon does not intend, and disclaims any duty, to update or revise any forward -looking statements contained in this presentation to reflect new information, future events or otherwise.
We caution you not to place undue reliance on the forward -looking statements contained in this presentation.
Disclaimer

39 © 2025 NEXON Co., Ltd. All Rights Reserved.
Q3 2025 financial results are scheduled for release on
Tuesday, November 11th, 2025.
Nexon management is scheduled to host an online earnings presentation for investors, analysts and the media on the same day.
Details of the online earnings presentation will be available on our IR website about a month prior to the release.
Q3 2025 Earnings Release Schedule