Slide 1: Investor Relations February 2026
Investor Relations February 2026
Slide 2: Disclaimer
Disclaimer Financial statements included in this document are consolidated results of KRAFTON, Inc. (the “Company”) and its subsidiaries and have been prepared in accordance with K-IFRS. Financial results and operational performance included herein have been prepared for investors’ convenience only
Slide 3: The Essence of Games, The Expansion of Value
The Essence of Games, The Expansion of Value CEO CH Kim
Slide 4: Part 1. Game: Franchise IP
Part 1. Game: Franchise IP 4 4
Slide 5: Update on '25 Strategy and Performance
Update on ’25 Strategy and Performance Solid Growth of the PUBG Franchise IP and Validation of New IP Potential 2025 Message Recap Key Achievements of 2025 • Full -Scale Execution of PUBG IP Franchise Strategy • Solidifying PUBG IP Franchise by Expanding Core Users - Investing in content and service
Slide 6: PUBG IP Franchise: Core Services
PUBG IP Franchise: Core Services Evolving into a Long -term PLC IP, Accelerating Transition as a Gameplay Platform in 2026 Expanding Investment into Impactful Cultural Content Direction for PUBG 2.0 Core Enhancement Gameplay UGC Mega-IP Collaborations Campaigning New Modes Diversification Update to
Slide 7: PUBG IP Franchise: New Titles
PUBG IP Franchise: New Titles Developing New Titles across Multiple Internal Studios to Attract Potential Fans PUBG Studio Projects KRAFTON Studio Projects PUBG: Black Budget PUBG: Blindspot Valor New Projects GW Shooter | PC/Mobile Aegis Shooter | Mobile PC 18+1) PC 15+ Console 18+ ．．． Extraction S
Slide 8: M&A and Equity Investment
M&A and Equity Investment Recalibrating Our Principles for Targeting, Validation, and Investment to Secure Franchise IPs Large -Scale M&A Mid -to -Small Sized M&A Minority Investment & 2PP Securing ‘Another PUBG’ to IPs with core fandom and Partnering with proven teams, backed by redefine corporate
Slide 9: 1PP Production
1PP Production Secur ing Top-tier Production Leaders, Accelerating Small & Fast Attempts to Build Franchise IPs Securing Proven Leadership, Expanding Production Efficient Dev Framework for Small & Fast Attempts New Leadership and Pipeline Overview OperatingCost-Efficient Development Framework 1PP Pi
Slide 10: Major New Titles
Major New Titles Ongoing New Title Development to Secure New Franchise IPs Studio Unknown Worlds Studio PUBG STUDIOS Studio Neon Giant Studio 5minlab Genre Underwater Survival Genre Open-world Survival Genre Open-world Shooter RPG Genre Frontier Life Simulation Adventure Crafting Platform PC/Console
Slide 11: Key IP Scale-up
Key IP Scale-up Targeting Genre Champions, Focusing Resources on Scaling to Long -term PLC IPs ㄱ inZOI Studio Life Simulation Eleventh Hour Games ARPG ReLU Games Co-op Horror • Enhancing life simulation experience and polish • Expanding development resources and • Expanding AI-driven game mechanics
Slide 12: Part 2. Beyond game: Leveraging game-core
Part 2. Beyond game: Leveraging game-core 12 12
Slide 13: Expanding through Games
Expanding through Games Driving Visible Results through Disciplined, Game -Synergy -Driven M&A ADK: Extending Game IP PLC and Anime-to-Game Expansion Neptune: Expanding Ad Tech-Driven Value Chain in India Proactive Acquisition of Promising IP Rights Game IP Expanding Trans -media presence in Expansi
Slide 14: AI Perspective
AI Perspective Key Driver Behind KRAFTON’s Future Innovation and Value Expansion AI for Game Game for AI Business Impact In -game AI Improving Production & Service Synergies with AI Business Delivering fresh experiences Enhancing efficiency New business opportunities and fun and effectiveness derive
Slide 15: Game for AI
Game for AI Exploring AI Business Expansion Leveraging Game Development and Service Expertise AI for Game + Game for AI Bringing AI for Games Capabilities into Real -world Physical AI “AI for Game” In-game AI, Improvements in In-game play & High-quality training data production and live service inte
Slide 16: Game for AI
Game for AI Leveraging Core Gaming Capabilities to Expand into Physical AI Physical AI Body Brain Neural System Focusing on AI S/W Core Synergy via Partnerships with Global H/W Leaders • Transferring game -validated AI New New capabilities to the real world Advancement through game, Business Busines
Slide 17: Conclusion
Conclusion Games are at the Core of KRAFTON. We Build Long -term PLC Franchise IPs and Pioneer the Future as a Global AI Innovator. 17 17
Slide 18: FY2025 & 4Q25 Financial Performance
FY2025 & 4Q25 Financial Performance CFO Dongkeun Bae
Slide 19: 2025 Operating Results at a Glance
Revenue KRW Revenue grew 23% YoY driven by sustainable growth of PUBG IP and new IP performance 3.3 tn 2025 Operating Results at KRW Operating profit declined 11% YoY, reflecting investments in developers, PUBG 2.0 initiatives, Profit and one-off costs a Glance 1.1 tn New IP 2 15 inZOI reached 1M+ c
Slide 20: Revenue Breakdown
Revenue Breakdown (KRW bn) 4Q 2024 3Q 2025 4Q 2025 QoQ YoY FY2024 FY2025 YoY Revenue Revenue 617.6 870.6 919.7 +5.6% +48.9% 2,709.8 3,326.6 +22.8% 2025 KRW 3,326.6bn(YoY 22.8% ↑) PC 232.6 353.9 287.4 -18.8% +23.6% 941.9 1,184.6 +25.8% 4Q25 KRW 919.7bn(QoQ 5.6% ↑, YoY 48.9% ↑) Mobile 362.2 488.5 292.
Slide 21: Operating Expenses & Profit
Operating Expenses & Profit Operating Expenses (KRW bn) 4Q 2024 3Q 2025 4Q 2025 QoQ YoY FY2024 FY2025 YoY Operating Costs 402.1 522.0 917.3 +75.7% +128.1% 1,527.3 2,272.2 +48.8% 2025 KRW 2,272.2bn (YoY48.8%↑) Personnel 132.7 155.5 284.0 +82.7% +114.1% 516.8 734.7 +42.2% KRW 1,860.5bn, excluding ADK
Slide 22: Net Profit
Net Profit (KRW bn) 4Q 2024 3Q 2025 4Q 2025 QoQ YoY FY2024 FY2025 YoY Net Profit Operating Profit 215.5 348.6 2.4 -99.3% -98.9% 1,182.5 1,054.4 -10.8% Non -Operating Profit 387.1 138.1 (52.9) T/D1) T/D1) 540.2 (95.4) T/D1) 2025 KRW 733.7bn (YoY 43.7% ↓) Non -Operating Income 417.4 123.2 153.2 +24.3%
Slide 23: Shareholder Return Policy
Shareholder Return Policy Enhancing Shareholder Value with KRW 1tn+ in Buybacks, Cancellations, and Dividends Over 2026‒2028 Shareholder Return Results in 2023 -2025 Shareholder Return Policy in 2026 -2028 KRW 1.0tn+ (100% cancellation) KRW 693.0bn Type 2026 2027 2028 Buybacks 2025Y KRW 325.9bn(60%
Slide 24: Appendix
Appendix 24
Slide 25: Summary of Financial Statements
Summary of Financial Statements Consolidated Income Statement FY2024 FY2025 (KRW bn) 2024 2025 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Revenue 665.9 707.0 719.3 617.6 874.2 662.1 870.6 919.7 2,709.8 3,326.6 Operating Costs 355.4 374.9 394.9 402.1 416.9 416.0 522.0 917.3 1,527.3 2,272.2 Operating Profits 310.5 332.1
Slide 26: Summary of Financial Statements
Summary of Financial Statements Consolidated Statement of Financial Position (KRW bn) FY2024 FY2025 FY2024 FY2025 Assets Liabilities Current Assets 5,004.4 4,866.3 Current Liabilities 784.8 1,583.3 Cash and Cash Equivalents1) 3,772.0 3,180.7 Non -current Liabilities 305.5 666.2 Other Current Assets