Nexon FY2025 Q3 Earnings Release

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INVESTOR PRESENTATION Q 3 2025
Junghun Lee President and CEO | Shiro Uemura CFO

2 © 2024 NEXON Co., Ltd. All Rights Reserved.
Table of Contents
• Management Summary
• Franchise Summary
• Q3 2025 Results
• Q4 2025 Outlook
• Shareholder Return
• Pipeline
• Appendix

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1Hyperlocalization is a key element of our global strategy, goes beyond language localization, providing adapted content, promotions and community management that suits the unique tastes of players in target markets. 3Operating Income excluding Other Expense such as impairment losses
2Global MapleStory Classic World is new content for the original PC game that revives the early days of MapleStory , expected to energize the player base and bring back lapsed players.
109.2
139.4 140.2
118.7
FY22 FY23 FY24 FY25Q1-Q3
353.7
423.4 446.2
351.5
FY22 FY23 FY24 FY25Q1-Q3
Vertical (Three Franchises Total) Horizontal
Revenue
Management Summary
Our IP Growth Initiative Revitalizes Key Franchises While Developing New Revenue Drivers
MapleStory Franchise Demonstrates Vertical Growth
• Franchise revenue grew 61% Y/Y in Q3; tracking to approx. 40% full -year growth in 2025
• New Content: Generated renewed momentum in Korea, driving 3x Y/Y growth in Q3
• Hyperlocalization 1: Announced plans for Global MapleStory Classic World 2
• Platform and Global Expansion: MapleStory Worlds grew over 8x Y/Y in Q3
• New Product: Launched MapleStory : Idle RPG , a casual game aimed to broaden our player base
Shareholder Return Updates Reflect Our Confidence
• Announced doubling year -end dividend forecast from ¥15 to ¥30 per share
• Completed ¥25 billion share repurchase in October
• Authorized remaining ¥25 billion share repurchase from November 12 to January 26, 2026
• Continued growth, strong cash flows, and solid balance sheet position us well to deliver on
our policy of returning over 33% of prior year’s OI
Making Solid Progress to Expand Global Footprint
• ARC Raiders: Launched on October 30 with 4 million copies sold to date
• Climbed to #1 Global Top Seller on Steam and a chieved more than 700,000 concurrent players
• Content roadmap and promotions planned through 2026
• THE FINALS: A hyperlocalized China version set to start Open Beta on November 18
• MABINOGI MOBILE :Plan to launch in Japan in 2026
Adjusted Operating Income 3
(Unit: ¥ billions)
(Unit: ¥ billions)

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Trailing 12 – Month Franchise Revenue History
REVENUE
TIME
Anticipate Further Vertical and Horizontal Growth through Franchise Expansion and New Launches
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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2022 2023 2024 2025
Dungeon&Fighter Franchise
Dungeon&Fighter Franchise Revenue
Q2
Q1
Q2
Q1
Q4
Q3
Q3
Dungeon&Fighter (PC)
• In Korea, Q3 revenue grew 145% Y/Y
• In China, Q3 revenue exceeded expectation and marked strong
double -digit Y/Y growth driven by Summer and National Day updates;
MAUs, PUs, ARPPU all up Y/Y
• In Q4, anticipate continued Y/Y growth both in Korea and China, while
focusing on preparation for the New Year update next January
Dungeon&Fighter Mobile
• Q3 revenue came at the high -end of outlook; multiple updates
including a level -cap release, new dungeons and raid content
drove Q/Q growth
• Anticipate revenue to remain roughly flat sequentially driven by
multiple updates in Q4 despite typical weak seasonality
• First co -developed content with Tencent released in late
September, which helped maintain key metrics like retention;
next co -dev content release scheduled for next year
72% Y/Y Growth from Dungeon&Fighter (PC) While Franchise Revenue Down 45%
Due to Mobile Launch in 2024; Expect Q4 Revenue to Decline Roughly 10% Y/Y
Q4

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2022 2023 2024 2025
MapleStory Franchise Revenue
Q1
Q2
Q1
Q4
Q3
MapleStory Franchise
Q2
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
61% Y/Y Revenue Growth in Q3; Expect 40% Y/Y Growth in Q4 Driven by
Strong Performance in Korea and Contributions from New Titles
Global MapleStory
• Q3 revenue declined Y/Y
• Expect Q4 to slightly decline Y/Y
• Announced plans for Global MapleStory Classic World, a new content
expected to energize the base and bring back lapsed players
MapleStory Worlds 1
• Delivered over 8x Y/Y revenue growth in Q3
• Expect another Y/Y growth in Q4
MapleStory : Idle RPG
• Launched globally 2on November 6
• Aim to attract a broader range of players to the IP while re -engaging
dormant players with light -hearted gameplay
• Q3 revenue exceeded expectations and increased approx. 3x Y/Y
• MAUs, PUs, and ARPPU all up Y/Y, reflecting strong momentum from
summer update and new content
• In Q4, support current strong player engagement with the
upcoming winter update
Korea MapleStory
2Excludes Japan, China, Vietnam, Slovakia, Belgium, and other specified regions
Q4

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2022 2023 2024 2025
FC Franchise Revenue
FC Franchise
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
FC ONLINE 1
• Revenue exceeded expectations and grew Y/Y driven by the successful
TOTS (Team of the Season) update
• Anticipate growth to continue in Q4 through sustained player
engagement, multiple updates and sales promotions
FC MOBILE 2
• Q3 Revenue grew Y/Y in Korea
Q3 Revenue Exceeded Expectations;
Anticipate Full -Year Franchise Revenue to be Roughly Flat Y/Y
Q4

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ARC Raiders
Climbed to #1 on Steam’s Global Top Sellers List
Following a Remarkable Debut on October 30
• ARC Raiders , a brand new PvPvE extraction shooter
from Nexon’s Embark Studios, had a highly
successful global release on October 30
• The game sold 4 million copies and reached more
than 700,000 concurrent players across all platforms
• Received widespread acclaim from both players
and critics, earning a “Very Positive” rating on Steam
and ranking among the highest -rated titles of the
year on various sites
• Post -launch content updates including a new map,
new ARC machines, new quests, and new gameplay
items to be introduced in November
• Plan to sustain player engagement and drive
additional sales, supported by a high cadence of
events and new content drops extending through
2026

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Q3 2025 Results

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1Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile) .
135.6
118.7
51.5 37.5
27.0 38.2
Q3 2024 Q3 2025 Q3 2024 Q3 2025 Q3 2024 Q3 2025
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 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.
Q3 2025 Financial Highlights
Major Franchises Extended Robust Performances; MapleStory Franchise Grew 61% Y/Y
Revenues Operating Income Net Income 2 (Unit: ¥ millions, except per share data) (Unit: ¥ billions)
Revenues
• In-line with expectations. Korea MapleStory ,
FC ONLINE 1, and China Dungeon&Fighter (PC)
outperformed
• Y/Y, growth in MapleStory franchise,
Dungeon&Fighter (PC), and contributions from
new titles were offset by decreases in
Dungeon&Fighter Mobile and The First Descendant
Operating Income
• In-line with expectations
• Marketing and HR costs were below plan
• Y/Y decrease primarily due to a revenue mix change
in relation to a decline from Dungeon&Fighter Mobile
Net Income 2
• Exceeded expectations and up Y/Y, due to a
¥9.2 billion FX gain in Q3 2025 while recording
a ¥19.6 billion FX loss in Q3 2024
2Net income refers to net income attributable to the owners of the parent.As- Constant
Q3 2024 Q3 2025 Reported Currency 3
Revenues ¥135,593 ¥116,567 ~ ¥127,114 ¥118,719 (12%) (9%)
PC/Console 70,793 83,606 ~ 89,318 85,191 20% 25%
Mobile 64,800 32,961 ~ 37,796 33,528 (48%) (47%)
Operating income 51,535 32,730 ~ 41,154 37,528 (27%) (24%)
Net income 2 27,023 26,398 ~ 32,783 38,165 41% 48%
Earnings per share 32.55 33.02 ~ 41.01 47.78
Exchange rates
100 KRW/JPY 11.03 10.68 10.68 10.65 (3%)
CNY/JPY 20.89 20.49 20.49 20.63 (1%)
USD/JPY 149.38 146.74 146.74 147.48 (1%)
YoY % Change
Q3 2025 Outlook

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72%
28%
58% 24%
3%
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.
Q3 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 58 %
China 24%
Japan 3%
North America & Europe 8%
Rest of World 27%
PC/Console 72%
Mobile 28%As- Constant As- Constant
Reported Currency 3 Reported Currency 3
Revenue by Region 1
Korea ¥47,308 ¥69,072 ¥71,495 46% 51%
China 57,156 28,377 29,646 (50%) (48%)
Japan 5,988 3,426 3,495 (43%) (42%)
North America and Europe 17,188 9,452 9,573 (45%) (44%)
Rest of World 2 7,953 8,392 8,593 6% 8%
Nexon Total 135,593 118,719 122,802 (12%) (9%)
Revenue by Platform
PC/Console 70,793 85,191 88,404 20% 25%
Mobile 64,800 33,528 34,398 (48%) (47%)
Nexon Total 135,593 118,719 122,802 (12%) (9%)
FX Rate
100 KRW/JPY 11.03 10.65 11.03 (3%)
CNY/JPY 20.89 20.63 20.89 (1%)
USD/JPY 149.38 147.48 149.38 (1%)
Q3 2025 YoY % Change
Q3 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
135.6 118.7
51.5 37.5 27.0
38.2
366.5 351.5
125.9 116.8 102.8
81.2
2024 2025 2024 2025 2024 2025
Q3 2025 Accumulated Results
Revenues Operating Income Net Income 3
Q3 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.
Q3Constant Constant
Currency 4 Currency 4
Revenue by Region 1
Korea ¥153,518 ¥194,330 ¥207,106 27% 35%
China 142,678 92,828 95,411 (35%) (33%)
Japan 14,174 10,378 10,782 (27%) (24%)
North America and Europe 34,151 29,765 30,946 (13%) (9%)
Rest of World 2 21,964 24,202 25,537 10% 16%
Nexon Total 366,485 351,503 369,782 (4%) 1%
Revenue by Platform
PC/Console 206,971 247,269 260,739 19% 26%
Mobile 159,514 104,234 109,043 (35%) (32%)
Nexon Total 366,485 351,503 369,782 (4%) 1%
Operating income 125,905 116,837 121,669 (7%) (3%)
Net income 3 102,819 81,195 84,009 (21%) (18%)
Earnings per share 123.06 100.56
Q1-Q3 2024 As-Reported As-Reported
Q1-Q3 2025 YoY % Change

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11,264 8,988 11,730 17,958 14,554
36,044 32,516
42,522
53,048 54,518
47,308 41,504
54,252
71,006 69,072
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
EA SPORTS FC TMONLINE M
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.
Q3 2025 Korea – Highlights
(Unit: ¥ millions)
PC/Console
Mobile
Y/Y% change:
As Reported: +46%
Constant Currency 2: +51%
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.
Results as Planned. Y/Y Growth Driven by Three Major Franchises and MABINOGI MOBILE
• MapleStory : PC revenue almost tripled Y/Y, exceeding our expectations.
Strong momentum from summer updates drove MAUs, PUs, and ARPPU to increase Y/Y
• FC : FC ONLINE 1exceeded expectations and grew Y/Y driven by TOTS (Team of the Season) update
• Dungeon&Fighter : PC version a chieved 145% Y/Y revenue growth
• Mabinogi: MABINOGI MOBILE made strong contribution while revenue was somewhat below
expectations
• PC/Console revenues up 51% Y/Y
• Mobile revenues up 29% Y/Y and down 19% Q/Q
Revenue Ranking by Region 3
EA SPORTS FC TMMOBILE
No .1 Mobile
No.2 No.3
MABINOGI MOBILE Blue Archive
MapleStory
Mabinogi
Mobile
Dungeon&Fighter
No.4
Sudden Attack
No.5
MABINOGI MOBILE
No.3
No.4
No .1 PC/Console
EA SPORTS FC TMONLINE
No.2
MapleStory M
No.5
No.3

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44,961
15,749 18,066 10,039 12,084
12,195
5,689
19,514
16,832 16,293
57,156
21,438
37,580
26,871 28,377
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Q3 2025 China – Highlights
PC/Console
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: -50%
Constant Currency 1: -48%
Results as Planned. Dungeon&Fighter (PC) Delivered Double -Digit Growth While
Dungeon&Fighter Mobile Declined Y/Y
• Dungeon&Fighter (PC):
‐ Exceeded outlook; up Y/Y
‐ Summer and National Day package sales drove strong double -digit revenue growth
‐ Y/Y MAUs, paying users, and ARPPU increased , reflecting healthy player engagement
‐ Q/Q ARPPU increased while MAUs and paying users decreased
• Dungeon&Fighter Mobile :
‐ At the high -end of outlook; multiple updates including a level cap, new dungeons and raid
content drove Q/Q revenue growth
‐ Introduced first co -developed content with Tencent in late September, which helped maintain
key metrics like user retention
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.
Revenue Ranking by Region 2
Counter Strike Online MapleStory
No .1 PC/Console No .2 No .3
Dungeon&Fighter
No .1 Mobile No .2 No .3
Dungeon&Fighter Mobile Blue Archive MapleStory : The Legends of Maple 3

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2,595
1,595 1,940 1,380 1,507
3,393
1,999 2,029
1,603 1,919
5,988
3,594 3,969
2,983
3,426
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
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.
Q3 2025 Japan – Highlights
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: -43%
Constant Currency 2: -42%
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.
Results as Planned
• Down Y/Y due to revenue decreases in The First Descendant and HIT : The World 1
• MapleStory : Up Y/Y, as the summer update increased MAUs and ARPPU Y/Y
• Blue Archive : Down Y/Y
1Official title for HIT2 serviced in Japan.
PC /Console
Revenue Ranking by Region 3
Mabinogi
No .1 PC/Console No .2 No .3
No .1 Mobile No .2 No .3
Blue Archive MapleStory M
MapleStory
HIT : The World 1
The First Descendant

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2,881 1,793 2,022
1,227
1,716
14,307
6,578
8,834
8,230 7,736
17,188
8,371
10,856
9,457 9,452
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Q3 2025 North America and Europe – Highlights
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: -45%
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.
Results as Planned
• Revenue decreased Y/Y. Y/Y growth in THE FINALS and c ontributions from The First
Berserker: Khazan and MapleStory Worlds were offset by The First Descendant
• The First Descendant :Down Y/Y compared to the launch quarter in Q3 2024
• MapleStory : D own Y/Y
• THE FINALS : Revenue grew Y/Y driven by the successful Season 8 update
PC /Console
Revenue Ranking by Region 2
No .1 Mobile No .2 No .3
MapleStory M HIT 2 Blue Archive
No .1 PC/Console
The First Descendant THE FINALS
No .2 No .3
MapleStory

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3,099 2,048 2,580 3,764 3,667
4,854
2,771
4,697
4,769 4,725
7,953
4,819
7,277
8,533 8,392
Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 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.
Q3 2025 Rest of World 1 – Highlights
PC /Console
Mobile
(Unit: ¥ millions)
Y/Y% change:
As Reported: +6%
Constant Currency 2: +8%
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.
Below Outlook Due to MapleStory Worlds
• Up Y/Y. A contribution from MapleStory Worlds was offset by revenue decreases in
MapleStory and The First Decendant
• MapleStory Worlds : Contributed to overall Y/Y revenue growth
• MapleStory : Down Y/Y due to softness in Taiwan
Revenue Ranking by Region 3
The First Descendant MapleStory
No .1 PC/Console No .2 No .3
No .1 Mobile No .2 No .3
MapleStory M Blue Archive
MapleStory Worlds
HIT 2

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31,464 35,185 31,996
40,212 41,552 36,437 35,139 34,702 35,779
11,378 8,768 11,862
10,304 10,617
7,989 10,850 15,650 13,892
11,625 9,084 9,476
7,762 9,799
6,108 7,925
10,243 9,234
7,669 11,380 5,430
4,816
7,722
10,745 5,174
5,596 8,709
910 1,696
1,012
1,338
1,094
1,094 1,059
1,148 1,135
10,582
11,734
13,504
12,177
11,724
12,244 12,262
15,059 15,097 73,628
77,847
73,280
76,609
82,508
74,617 72,409
82,398 83,846
Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 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)
Q3 Results
Y/Y 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: Decreased due to The First
Descendant
• Marketing Costs: Increased primarily due to
MABINOGI MOBILE and FC ONLINE 2
• Other 3: Increased due to fees to creators 4
in relation to higher sales from MapleStory
Worlds 5
Q/Q Analysis
• Royalty and PG Fee: Decreased due to
lower sales from MABINOGI MOBILE
• Marketing Costs: Increased primarily due to
FC ONLINE 2and The First Descendant
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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Q4 2025 Outlook

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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
135.6 118.7
51.5 37.5 27.0 38.2
79.7 129.3
(1.7) 31.9 32.0 30.6
446.2 480.8
124.2 148.7 134.8 111.8
2024 2025 2024 2025 2024 2025
1Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile) .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.
Revenues Operating Income (loss) Net Income 2
FY 2025 (High -end) (Unit: ¥ billions)
Forex sensitivity 4: Every one Japanese yen move against the U.S. dollar would have the following impact on our financials for Q4 2025
Revenues 0.80 billion yen Operating Income 0.16 billion yen
Expect Y/Y Growth Driven by MapleStory and FC Franchises and Significant Contributions from New Titles
Revenues
• Expect Y/Y growth in FC ONLINE 1, Dungeon&Fighter
(PC) and MapleStory , along with contributions from
new titles including ARC Raiders, MABINOGI MOBILE,
MapleStory : Idle RPG and THE FINALS China service
• Expect Y/Y declines in Dungeon&Fighter Mobile
and The First Descendant
Operating Income
• Expect revenue increase to be partially offset by
increased PG fees, royalty expenses, marketing
expenses, and HR costs
• Expect a gain of ¥5.0 billion associated with the
liquidation of our subsidiary funds
Net Income 2
• Expect a Y/Y decrease despite the year -over -year
operating income increase
• This is due to the comparison against the ¥31.7
billion FX gain in Q4 2024
(Unit: ¥ millions, except per share data)
4In 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.
Q4 2025 Financial Outlook
2Net income refers to net income attributable to owners of the parent.
Q2Q1
Q3Q4Q4 2024
Revenues ¥79,726 ¥115,800 ~ ¥129,336 45% ~ 62% 43% ~ 59%
PC/Console 49,553 83,232 ~ 92,067 68% ~ 86% 63% ~ 80%
Mobile 30,173 32,568 ~ 37,269 8% ~ 24% 10% ~ 25%
Operating income (loss) (1,729) 21,744 ~ 31,874 na ~ na na ~ na
Net income 2 32,029 22,231 ~ 30,606 (31%) ~ (4%) (38%) ~ (14%)
Earnings per share 38.71 27.97 ~ 38.51
FX Rate Assumptions
100 KRW/JPY 10.93 10.66 10.66 (2%)
CNY/JPY 21.24 21.40 21.40 1%
USD/JPY 152.44 151.30 151.30 (1%)
YoY % Change
As-Reported Constant Currency 3 Q4 2025 Outlook

21 © 2025 NEXON Co., Ltd. All Rights Reserved.
29,182 37,580
56,340 26,871
57,156
28,377
21,438
20,399
164,116
113,227
2024 2025
57,340 54,252
48,870 71,006
47,308
69,072 41,504
62,310 195,022
256,640
2024 2025
1Official title is EA SPORTS FC ONLINE (PC).
(High -end)
China
Expect Revenues to Decrease Y/Y Due to Dungeon&Fighter Mobile
• Dungeon&Fighter Mobile
‐ Expect revenue to remain roughly flat sequentially despite a typical weak
seasonality
‐ The next release of co -developed content with Tecent is scheduled for
next year
• Dungeon&Fighter (PC)
‐ Expect Y/Y growth
• THE FINALS
‐ Scheduled to start the Open Beta on November 18
Q4 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 FC ONLINE 1, Dungeon&Fighter ,
MapleStory ,as well as MABINOGI MOBILE and MapleStory : Idle RPG
• PC/Console: Expect to increase Y/Y
‐ Expect FC ONLINE 1to increase Y/Y driven by multiple updates and sales
promotions
‐ Expect MapleStory to increase Y/Y while supporting player engagement
with the release of winter update
‐ Expect Dungeon&Fighter to increase Y/Y
• Mobile: Expect to increase Y/Y
‐ Expect to benefit from MABINOGI MOBILE and MapleStory : Idle RPG (launched
on November 6)
Q2
Q1 Q1
Q3
Q3
Q4
Q4Q4 2024
41,504 57,622 ~ 62,310 39% ~ 50% 42% ~ 54%
Q4 2025 Outlook YoY % Change
ConstantCurrency 2 Actual Low-end High-end As-Reported Q4 2024
21,438 17,043 ~ 20,399 (21%) ~ (5%) (21%) ~ (6%)
Actual
Q4 2025 Outlook YoY % Change
ConstantCurrency 2 As-Reported Low-end High-end

22 © 2025 NEXON Co., Ltd. All Rights Reserved.
8,347 7,277
5,664 8,533
7,953 8,392 4,819 8,075 26,783
32,277
2024 2025
9,919 10,856
7,044 9,457
17,188 9,452
8,371
35,785 42,522
65,550
2024 2025
3,630 3,969 4,556 2,983
5,988 3,426
3,594 2,767
17,768 13,145
2024 2025
1Rest of World includes other Asian countries as well as Central and South American countries.
(Unit: ¥ millions)
Q4 2025 Japan / North America and Europe /
Rest of World 1 Outlook
Japan
Expect Revenues to Decrease Y/Y
• Expect Y/Y decreases in HIT : The World 2,
FC MOBILE 3, and Blue Archive
• Expect a Y/Y increase in MapleStory
North America and Europe
Expect Revenues to Singificantly Increase Y/Y
• Expect a significant contribution from ARC Raiders
(launched on October 30)
• Expect Y/Y increases in THE FINALS, MapleStory M,
and MapleStory
• Expect a Y/Y decrease in The First Descendant
Rest of World 1
Expect Revenues to Increase Y/Y
• Expect significant contributions from ARC Raiders ,
MapleStory : Idle RPG , and MapleStory Worlds
• Expect a Y/Y decrease in The First Descendant
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.
(High -end) (High -end) (High -end)
2Official title for HIT2 serviced in Japan.
Q2
Q2 Q2
Q1 Q1 Q1
Q3
Q3 Q3 Q4
Q4
Q4
3Official title is EA SPORTS FC TMMOBILE .Q4 2024
3,594 2,337 ~ 2,767 (35%) ~ (23%) (35%) ~ (23%)
Q4 2025 Outlook YoY % Change
Currency 4 Actual Low-end High-end As-Reported Constant Q4 2024
4,819 7,220 ~ 8,075 50% ~ 68% 47% ~ 64%
Actual Low-end High-end As-Reported Currency 4 Constant
Q4 2025 Outlook YoY % Change Q4 2024
8,371 31,578 ~ 35,785 277% ~ 327% 242% ~ 288%
Actual Low-end High-end As-Reported Currency 4 Constant
Q4 2025 Outlook YoY % Change

23 © 2025 NEXON Co., Ltd. All Rights Reserved.
-1.7
24.8 24.8
31.9
49.6
15.1
6.2
1.8
7.1
Operating Loss
2024 Q4
Revenue increase Variable Costs Marketing Costs HR Costs Other Operating Income
2025 Q4 (High-end)
Q4 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
Q4 Outlook
• Variable costs includes:
o Royalty Fees: Expect to increase due to
MABINOGI MOBILE, and MapleStory : Idle RPG ,
and FC franchise
o PG Fees: Expect to increase due to ARC
Raiders ,MABINOGI MOBILE ,and MapleStory :
Idle RPG
• Marketing Costs: Expect to increase due to
promotions for new titles such as MABINOGI
MOBILE , ARC Raiders and MapleStory : Idle RPG
• HR Costs 1: Expect to increase due to
increased headcount
• Other includes:
o Increased fees to creators 2in MapleStory
Worlds 3
o Decreased impairment loss of ¥7.0 billion
recorded in Q4 2024
o ¥5.0 billion gain associated with liquidation
of subsidiary funds
1
Y/Y Operating Income Comparison (High -end)

24 © 2025 NEXON Co., Ltd. All Rights Reserved.
6.3
50.0
25.0
25.0
2.8
16.0
98.8
77.4
51.4
2020 2021 2022 2023 2024 2025 (E)
Shareholder Return
Dividend
▪ Approved doubling the year -end dividend forecast from ¥15
per share to ¥30 per share, reflecting our confidence in
continued stable growth and cash flow generation from our
core franchises and new titles in development
▪ This represents a per -share annual dividend forecast of ¥45 in
2025, and ¥60 in 2026
2.5 5 7.5 10 10
22.5
45
60
2019 2020 2021 2022 2023 2024 2025(E) 2026(E)
(Unit: ¥ per share )
Buy -Back
▪ Completed ¥75 billion share repurchase by October 24 under the
one -year, ¥100 billion share buyback policy
▪ Approved execution of the repurchase for the remaining ¥25 billion
worth of shares from November 12 to January 26, 2026
▪ Continued growth, strong cash flows, and solid balance sheet position
us well to deliver on our policy of returning over 33% of prior year’s OI
Doubling the Dividend Forecast to ¥30 While Authorizing Execution of Remaining ¥25 Billion Share Repurchase
(Unit: ¥ billions )
Completed in June
Scheduled to be executed from November to January 2026
Completed in January
Completed in October

25 © 2025 NEXON Co., Ltd. All Rights Reserved.
Pipeline

26 © 2024 NEXON Co., Ltd. All Rights Reserved.
DAVE THE DIVER MOBILE
TBA
China
DAVE THE DIVER
Hybrid Marine Adventure
Developer
Mobile
· Launch Schedule
· Region
· IP
· Genre
· Business Model
1Tentative title.
Project DX 1
· Launch Schedule
· Region
· IP
TBA
Korea, Japan, Global 2
Durango
· Genre
· Business Model
MMORPG
Developer/Publisher
PC Console
THE FINALS
November 18, 2025
China
THE FINALS
FPS PvP
Developer
PC
· Launch Schedule
· Region
· IP
· Genre
· Business Model
2Includes all the regions other than Korea, China and Japan
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.

27 © 2024 NEXON Co., Ltd. All Rights Reserved.
Project RX 1
· Launch Schedule
· Region
· IP
TBA
TBA
New
· Genre
· Business Model
Anime -style Game
Developer/Publisher
TBA
NAKWON: LAST PARADISE
TBA
Korea, Global 2
New
Extraction Survival
Developer/Publisher
PC
· Launch Schedule
· Region
· IP
· Genre
· Business Model
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
TBA
Korea, Global 2
Vindictus (Mabinogi: Heroes)
· Genre
· Business Model
Action RPG
Developer/Publisher
PC Console
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.

28 © 2024 NEXON Co., Ltd. All Rights Reserved.
Woochi the Wayfarer
· Launch Schedule
· Region
· IP
TBA
Korea, Japan, Global 1
New
· Genre
· Business Model
Action Adventure
Developer/Publisher
Project OVERKILL 2
· Launch Schedule
· Region
· IP
TBA
TBA
Dungeon&Fighter
· Genre
· Business Model
3D Action RPG
Developer/Publisher
PC
Dungeon&Fighter : ARAD
· Launch Schedule
· Region
· IP
TBA
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

29 © 2025 NEXON Co., Ltd. All Rights Reserved.
Appendix

30 © 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 Q3 2025 YoY%
(By Region)
Korea ¥57,340 ¥48,870 ¥47,308 ¥41,504 ¥54,252 ¥71,006 ¥69,072 46%
China 29,182 56,340 57,156 21,438 37,580 26,871 28,377 (50%)
Japan 3,630 4,556 5,988 3,594 3,969 2,983 3,426 (43%)
North America and Europe 9,919 7,044 17,188 8,371 10,856 9,457 9,452 (45%)
Rest of World 1 8,347 5,664 7,953 4,819 7,277 8,533 8,392 6%
(By Platform)
PC/Console 79,297 56,881 70,793 49,553 77,596 84,482 85,191 20%
Mobile 29,121 65,593 64,800 30,173 36,338 34,368 33,528 (48%)
Revenue 108,418 122,474 135,593 79,726 113,934 118,850 118,719 (12%)
Operating income (loss) 29,146 45,224 51,535 (1,729) 41,611 37,698 37,528 (27%)
Net income 2 35,918 39,878 27,023 32,029 26,272 16,758 38,165 41%
Earnings per share 42.77 47.66 3 2.55 3 8.71 3 2.12 20.82 47.78
FX rate
100 KRW/JPY 11.19 11.38 11.03 10.93 10.53 10.34 10.65 (3%)
CNY/JPY 20.79 21.78 20.89 21.24 21.08 20.04 20.63 (1%)
USD/JPY 148.61 155.88 149.38 152.44 152.60 144.59 147.48 (1%)
PC and Console KPI
MAU (millions) 18.3 14.1 17.6 13.3 12.9 13.4 13.3 (25%)
PU (millions) 3.1 2.6 2.9 1.9 2.4 2.6 2.6 (9%)
Pay Rate 17.0% 18.5% 16.2% 14.2% 18.6% 19.7% 19.9%
ARPPU (as-reported) 12,545 9,279 11,939 9,942 16,137 12,472 13,705 15%

31 © 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 Q3
Total Cost of Revenue 1 ¥40,557 ¥44,187 ¥46,124 ¥33,970 ¥39,244 ¥47,225 ¥45,822
Royalty 2 11,862 10,304 10,617 7,989 10,850 15,650 13,892
HR cost (COGS) 3 19,131 25,739 27,592 17,370 20,072 20,872 21,041
Other (COGS) 4 9,564 8,144 7,915 8,611 8,322 10,703 10,889
Total SG&A 1 32,723 32,422 36,384 40,647 33,165 35,173 38,024
HR cost 7,454 8,234 7,559 12,174 8,360 7,373 7,771
PG fee 5 9,476 7,762 9,799 6,108 7,925 10,243 9,234
R&D 5,411 6,239 6,401 6,893 6,707 6,457 6,967
Marketing/advertising expenses 5,430 4,816 7,722 10,745 5,174 5,596 8,709
Depreciation and amortization 1,012 1,338 1,094 1,094 1,059 1,148 1,135
Other 3,940 4,033 3,809 3,633 3,940 4,356 4,208
Other Income 6 199 295 148 397 250 1,452 4,107
Other Expense 7 6,191 936 1,698 7,235 164 206 1,452
Includes: impairment loss 6,161 214 68 6,989 41 198 1,299

32 © 2025 NEXON Co., Ltd. All Rights Reserved.
1Finance Income includes interest income primarily on cash deposits. 2024 Q1, Q2, Q4, and 2025 Q3 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 Q3
Operating Income (Loss) ¥29,146 ¥45,224 ¥51,535 (¥1,729) ¥41,611 ¥37,698 ¥37,528
Finance Income 1 25,680 19,325 8,753 45,581 6,876 9,110 25,688
Finance Costs 2 518 608 20,323 1,592 6,642 18,257 2,718
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 42
Impairment loss of investments
accounted for using equity method – – – – (1,644) (835) (6,122)
Income / before Income Tax 54,239 61,434 38,907 41,407 38,701 28,844 54,418
Tax expense 18,288 22,046 10,211 9,226 12,378 12,961 16,696
Non-controlling interests 33 (490) 1,673 152 51 (875) (443)
Net income 4 35,918 39,878 27,023 32,029 26,272 16,758 38,165

33 © 2025 NEXON Co., Ltd. All Rights Reserved.
Cash Flow Statement
(Unit: ¥ millions)9 months ended 9 months ended
September 30, 2024 September 30, 2025
Cash flows from operating activities ¥62,805 ¥123,021
Cash flows from investing activities 5,687 172,765
Cash flows from financing activities (49,175) (94,876)
Net increase / (decrease) in cash and cash equivalents 19,317 200,910
Cash and cash equivalents at beginning of fiscal year 280,515 331,931
Effect of exchange rate change on cash and cash equivalents (2,960) (6,268)
Cash and cash equivalents at end of fiscal year 296,872 526,573

34 © 2025 NEXON Co., Ltd. All Rights Reserved.
Balance Sheet
(Unit: ¥ millions)December 31, September 30,
2024 2025
Liability
Current liabilities
Current tax liabilities 19,103 34,113
Current borrowings – –
Others 88,559 88,019
Total current liabilities 107,662 122,132
Noncurrent liabilities
Non-current borrowings – –
Others 118,584 116,216
Total noncurrent liabilities 118,584 116,216
Total liabilities 226,246 238,348
Shareholders’ equity
Capital stock 50,797 54,977
Capital surplus 30,079 33,123
Treasury shares (49,158) (66,552)
Other equity interest 207,098 206,076
Retained earnings 780,197 824,946
Non-controlling interests 11,512 9,207
Total equity 1,030,525 1,061,777
Total liabilities and total equity 1,256,771 1,300,125 December 31, September 30,
2024 2025
Asset
Current Assets
Cash and cash equivalents ¥331,931 ¥526,573
Other deposits 268,934 184,810
Other current assets 151,408 122,881
Total current assets 752,273 834,264
Noncurrent assets
Tangible assets 28,365 29,458
Goodwill 44,567 46,949
Intangible assets 34,815 37,788
Investments accounted for using equity method 63,669 59,878
Other non-current financial assets 268,310 230,557
Others 64,772 61,231
Total noncurrent assets 504,498 465,861
Total assets 1,256,771 1,300,125

35 © 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 September 30
2024 2024 2024 2024 2025 2025 2025
Japan 258 251 243 238 239 237 233
Korea 1 7,526 7,524 7,762 7,962 8,083 8,111 8,338
China 190 192 192 186 189 187 184
North America 311 236 196 186 180 179 184
Others 683 679 737 757 810 842 847
Total 1 8,968 8,882 9,130 9,329 9,501 9,556 9,786
254 241 137 94 292 309 174
Full-time Employees
Temporary Workers 1

36 © 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%

37 © 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

38 © 2025 NEXON Co., Ltd. All Rights Reserved.
Q4 2025 financial results are scheduled for release on
Thursday, February 12th, 2026.
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.
Q4 2025 Earnings Release Schedule