Gravity Co., Ltd. · NASDAQ:GRVY

Gravity — Q4 2025 Earnings Presentation

36 slides from Gravity's earnings presentation, February 2026

1. Slide 1: IR Presentation

   IR PRESENTATION Investor Relations February 2026 © GRAVITY CO.,LTD. All rights reserved

2. Slide 2: Disclaimer

   These materials have been prepared by GRAVITY Co., Ltd. ("Gravity" or the "Company"). The statements contained in this presentation have not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness

3. Slide 3: Agenda: 2025 4Q Financial, Game, Business, Pipeline

   2025 4Q Financial 2025 4Q Business 01 Operation Results Trend 14 'Unite to Ignite' Conference By Gravity Game Unite 02 Revenue Breakdown 15 RAGNAROK FESTA 2025 Presented By OneOne 2025 4Q Game 16 THEME OF RAGNAROK Taiwan Tainan 03 Released Games 17 Publishing Business of Subsidiaries 04 Ragnarok Onl

4. Slide 4: 2026 Gravity Pipeline: Ragnarok Hub Vision

   2026 GRAVITY Pipeline Gravity’s Mid-to-Long Term Business Vision: Ragnarok Hub • Succession of Legitimacy + Modern MMORPG Evolution Ragnarok • GVG Highlight Clip Surpassed 1.5 Million Views Online 3 • Global Success Potential Through Pioneer Test in Korea and Southeast Asia • The First Ragnarok IP O

5. Slide 5: 2025 4Q Financial

   2025 4Q FINANCIAL 01 Operation Results Trend 02 Revenue Breakdown GRAVITY INVESTOR RELATIONS February 2026 5 © GRAVITY CO.,LTD. All rights reserved

6. Slide 6: Operation Results Trend: Annual Revenue and Operating Income

   2025 4Q Financial Operation Results Trend  2025 Preliminary Revenue 560 billion, Preliminary Operating Profit 77 billion. YoY Revenue +11.8%, Operating Profit -7.7% Annual Revenue & Operating Income Trend 2016 - 2025 800,000 725,516 700,000 600,000 560,000 (E) 500,845 500,000 463,618 405,953 413,93

7. Slide 7: Operation Results Trend: 2025 4Q

   2025 4Q Financial Operation Results Trend  2025 4Q Preliminary Revenue, 113 billion, Preliminary Operating Profit 12 billion  Revenue: QoQ -18.6%, YoY -12.9%, Operating Profit: QoQ -43.6%, YoY -24.8% Revenue Operating Profit Net Profit Liquidity ※ Unable to disclose due to unfinalized statements o

8. Slide 8: Revenue Breakdown by Region and Platform

   2025 4Q Financial Revenue Breakdown Revenue Breakdown by Region Revenue Breakdown By Platform '25 4Q 17.1% 25.3% 15.3% 42.3% '25 4Q 76.0% 20.8% 3.2% '25 3Q 19.5% 32.7% 13.1% 34.7% '25 3Q 78.9% 18.7% 2.4% '25 2Q 16.4% 28.7% 11.5% 43.4% '25 2Q 84.3% 12.9% 2.8% '25 1Q 8.1% 22.7% 16.1% 53.1% '25 1Q 84.0

9. Slide 9: 2025 4Q Game: Released Games

   2025 4Q G A M E 03 Released Games 08 Ragnarok Origin Classic (PC/Mobile) 04 Ragnarok Online (PC) 09 Ragnarok M: Classic (PC/Mobile) 05 Ragnarok Origin (PC/Mobile) 10 Ragnarok: The New World (PC/Mobile) 06 Ragnarok M: Eternal Love (PC/Mobile) 11 Ragnarok Endless Trails (Mobile) 07 Ragnarok X: Next Ge

10. Slide 10: Released Games: Monster Kitchen, Landverse America, Rebirth China

    2025 4Q Game Released Games Accelerating Growth Momentum Through Global Expansion and Portfolio Diversification Ragnarok Monster Kitchen Global Ragnarok Online Landverse America  Launching: December 11, 2025  Launching: December 19, 2025  Publisher: GRAVITY Co., Ltd.  Publisher: Maxion Tech LLC.

11. Slide 11: Released Games: The New World, Ragnarok X, Twilight

    2025 4Q Game Released Games Accelerating Growth Momentum Through Global Expansion and Portfolio Diversification Ragnarok X: Next Generation Ragnarok: The New World Taiwan · Hong Kong · Macau Europe (France, Italy ,Germany) · Middle East · Egypt · Algeria  Launching: January 14, 2026  Launching: Ja

12. Slide 12: Released Games: Game of Life, Little Gods, Academy of Heroes

    2025 4Q Game Released Games Accelerating Growth Momentum Through Global Expansion and Portfolio Diversification the Game of LIFE for Nintendo Switch Asia (except Japan) Little Gods of the Abyss Global  Launching: December 18, 2025  Launching: January 22, 2026  Publisher: GRAVITY Co., Ltd.  Publi

13. Slide 13: Ragnarok Online (PC)

    2025 4Q Game Ragnarok Online (PC) Ragnarok Online, Sustains Global Service Stabilization with Customized Regional Event Europe Korea North America Japan China Hong Kong Middle East Macau Taiwan Thailand Vietnam Philippines Malaysia Singapore Indonesia Ragnarok Online Serviced Regions South America,

14. Slide 14: Ragnarok Origin (PC/Mobile)

    2025 4Q Game Ragnarok Origin (PC/Mobile) Ragnarok Origin, Scheduled to End Service in Korea and Japan on March 31, 2026 Taiwan · Hong Kong · Macau Southeast Asia North · Latin America  Nov. <Poring Card> Event  Nov. <New Gameplay: Valhalla Arena> Update  Nov. <Vale of Clash> Event  Dec. <10-Play

15. Slide 15: Ragnarok M: Eternal Love (PC/Mobile)

    2025 4Q Game Ragnarok M: Eternal Love (PC/Mobile) Ragnarok M: Eternal Love, Continues Smooth Service with Season Updates and Events Europe Korea North America Japan China Hong Kong Middle East Macau Taiwan Thailand Philippines Malaysia Singapore Indonesia South America, Brazil Ragnarok M Serviced Re

16. Slide 16: Ragnarok X: Next Generation (PC/Mobile)

    2025 4Q Game Ragnarok X: Next Generation (PC/Mobile) Ragnarok X: Next Generation, Officially Launched in Europe (France, Italy, Germany) · Middle East · Egypt · Algeria on January 14, 2026 Taiwan · Hong Kong · Macau Korea Japan  Nov. <THM X SEA Data Link & Open New Merged Server>Update  Nov. <Mash

17. Slide 17: Ragnarok Origin Classic (PC/Mobile)

    2025 4Q Game Ragnarok Origin Classic (PC/Mobile) Ragnarok Origin Classic, is Planned to be Launched in Southeast Asia (except Vietnam), Taiwan, Hong Kong, Macau and Korea in the First Half of 2026  Launching: First Half of 2026  Market: Southeast Asia (except Vietnam), Taiwan, Hong Kong, Macau, Ko

18. Slide 18: Ragnarok M: Classic (PC/Mobile)

    2025 4Q Game Ragnarok M: Classic (PC/Mobile) Ragnarok M: Classic, is Scheduled to be Launched in Korea in the Second Half of 2026  Launching: Second Half of 2026  Market: Korea  Platform: PC/Mobile  Genre: MMORPG GRAVITY INVESTOR RELATIONS February 2026 18 © GRAVITY © GRAVITY CO.,LTD. CO.,LTD. A

19. Slide 19: Ragnarok: The New World (PC/Mobile)

    2025 4Q Game Ragnarok: The New World (PC/Mobile) Ragnarok: The New World, is Underway for its Launch in Southeast Asia (except Vietnam) and Global (except China, Taiwan, Hong Kong, Macau, Japan, Korea and CIS) in the Second Half of 2026  Launching: Second Half of 2026  Market: Southeast Asia (exce

20. Slide 20: Ragnarok Endless Trails (Mobile)

    2025 4Q Game Ragnarok Endless Trails (Mobile) Ragnarok Endless Trails, will be Launched in Southeast Asia on February 26, 2026  Launching: February 26, 2026  Market: Southeast Asia  Platform: Mobile  Genre: Casual, Roguelike, Survivor, Battle Royale  Publisher: GRAVITY Game Tech Co., Ltd.  Pre

21. Slide 21: Ragnarok Zero: Global (PC)

    2025 4Q Game Ragnarok Zero: Global (PC) Ragnarok Zero: Global, is Planned to be Launched in Southeast Asia, Europe and Oceania in the Second Half of 2026  Launching: Second Half of 2026  Genre: MMORPG  Platform: PC  Feature: Integrated global one-build launch across 69 countries,  Publisher: GR

22. Slide 22: Hashire HEBEREKE: EX / Wizmans World Re: Try / Light Odyssey and others

    2025 4Q Game Hashire HEBEREKE: EX/ Wizmans World Re: Try/ LIGHT ODYSSEY/ Final Knight/ GALVATEIN: Adventure’s Guild (PC/Console) Continuously Targeting Global Market Based on Diverse IP Portfolio Hashire HEBEREKE: EX Wizmans World Re: Try LIGHT ODYSSEY  Release Date:  Release Date:  Release Date:

23. Slide 23: 2025 4Q Business

    2025 4Q B U S I N E S S 14 'Unite to Ignite' Conference By Gravity Game Unite 15 RAGNAROK FESTA 2025 Presented By OneOne 16 THEME OF RAGNAROK Taiwan Tainan 17 Publishing Business of Subsidiaries GRAVITY INVESTOR RELATIONS February 2026 23 © GRAVITY CO.,LTD. All rights reserved

24. Slide 24: 'Unite to Ignite' Conference By Gravity Game Unite

    2025 4Q Business 'Unite to Ignite' Conference By Gravity Game Unite Gravity Game Unite, Held ‘Unite to Ignite’ Conference to Expand Gaming Industry Network in Malaysia  Date and Location: 2025.10.30 Gravity Game Unite Office, Kuala Lumpur, Malaysia  Attendee: Malaysia Digital Economy Corporation,

25. Slide 25: Ragnarok Festa 2025 Presented By OneOne

    2025 4Q Business RAGNAROK FESTA 2025 Presented By OneOne Ragnarok IP Global Offline Event, ‘RAGNAROK FESTA 2025 Presented By OneOne’ Integrated Global Ragnarok IP Users!  Date and Location: 2025.12.13 Emsphere UOB LIVE HALL  Winners: Bangkok, Thailand  Ragnarok Stars 2025: MORNING STAR  Visitors

26. Slide 26: Theme of Ragnarok Taiwan Tainan

    2025 4Q Business THEME OF RAGNAROK Taiwan Tainan RAGNAROK 23rd Anniversary Orchestra Concert, THEME OF RAGNAROK Successfully Held!  Date and Location: 2025.12.20, Tainan Cultural Center, Taiwan  Ticket Sold: All 1,500 seats  Performance: Collaboration with orchestra conducted by Jin Sol featuring

27. Slide 27: Publishing Business of Subsidiaries

    2025 4Q Business Publishing Business of Subsidiaries GRAVITY Game Link Indonesia GRAVITY Interactive U.S.A GRAVITY Communications Taiwan GRAVITY Game Tech Thailand Dragonica Origin Ragnarok Online America Latina Ragnarok Idle Adventure Plus Ragnarok V: Returns was launched in Southeast Asia on July

28. Slide 28: 2026 Gravity Pipeline

    2026 GRAVITY P I P E L I N E 18 Major Upcoming Launchings 19 Ragnarok IP Pipeline 20 Global Market Strategy 29 GRAVITY INVESTOR RELATIONS February 2026 © GRAVITY CO.,LTD. All rights reserved

29. Slide 29: Major Upcoming Launchings

    2026 GRAVITY Pipeline Major Upcoming Launchings (The launching schedule may be changed) STATUS PLATFORM GAME GENRE PLAN SCHEDULE MARKET/ REGION Initial Launching 4Q 2026 China PC/Mobile Ragnarok Online 3 MMORPG Initial Launching 2027 Global PC/Mobile Ragnarok M: Eternal Love 2 MMORPG Initial Launchi

30. Slide 30: Ragnarok IP Pipeline

    2026 GRAVITY Pipeline Ragnarok IP Pipeline Ragnarok Zero: Ragnarok Abyss Global Ragnarok: Twilight MMORPG MMOARPG Ragnarok Online 3 Ragnarok: Ragnarok Origin MMORPG MMORPG The New World MMORPG MMORPG Ragnarok: Back to Glory Ragnarok X: (Ragnarok: Rebirth) Ragnarok: 3D MMORPG Next Generation Ragnarok

31. Slide 31: Global Market Strategy

    2026 GRAVITY Pipeline Global Market Strategy Strategic Plan for Ragnarok IP’s Global Influence Expansion Target Global Market with various games based on Ragnarok IP through subsidiaries in Thailand, Taiwan, Indonesia, Singapore, Hong Kong, U.S.A and Malaysia Strengthen Ragnarok IP’s competitiveness

32. Slide 32: Exhibits

    Exhibits 01 Company Overview 02 Subsidiaries GRAVITY INVESTOR RELATIONS February 2026 32 © GRAVITY CO.,LTD. All rights reserved

33. Slide 33: Company Overview

    Exhibits Company Overview Date of April 4, 2000 Establishment Location GRAVITY Co., Ltd. (Korea) GRAVITY NeoCyon, Inc. (Korea) GRAVITY Communications Co., Ltd. (Taiwan) GRAVITY Interactive, Inc. (USA) GRAVITY Game Tech Co., Ltd. (Thailand) GRAVITY Interactive, Inc. LATAM (Contact Office, Brazil) GRA

34. Slide 34: Subsidiaries

    Exhibits Subsidiaries GRAVITY NeoCyon, Inc. GRAVITY Co., Ltd. GRAVITY Game Arise Co., Ltd. GRAVITY Co., Ltd. Online and Mobile Game Development Ragnarok Online Service in Korea GRAVITY Interactive, Inc. Online and Mobile Game Service in Korea IP Licensing Business GRAVITY Game Vision, Ltd. Global Bu

35. Slide 35: Contact Information

    Heung Gon Kim Chief Financial Officer Jin Lee IR Manager Yujin Oh IR Assistant Manager Contact Information 15F, 396 World Cup buk-ro, Address Mapo-gu, Seoul 121-795, Korea E-mail ir@gravity.co.kr Tel +82 - 2 -2132 -7800 Fax +82 - 2 -2132 -7070 © GRAVITY CO.,LTD. All rights reserved

36. Slide 36: Closing: Global Leading Game Company

    Gravity along with RAGNAROK, We are dedicated to grow as a Global Leading Game Company © GRAVITY CO.,LTD. All rights reserved

Gravity — Q4 2025 Earnings Presentation on 6ix