INVESTOR PRESENTATION Q2 2024
Junghun Lee President and CEO | Shiro Uemura CFO© 2024 NEXON Co., Ltd. All Rights Reserved.

1

IP Growth Initiative
Nexon’s New Growth Strategy for Vertical and Horizontal Growth of Existing Franchises and New IP

Existing IP
Expansion▪

Leverage the power of our established franchises to snowball growth with new experienceson new platforms and in new markets▪

Limit cost and risk by leveraging efficiencies in Nexon’s Live Operations Capability andin-depth understanding of IP▪

Strategy applied to both Dungeon&Fighter and MapleStory IP - others to follow.
Dungeon&Fighter Mobile in China demonstrates this strategy▪

Create all-new IP with potential to become new pillars in our global IP strategy▪

The First Descendant demonstrated global success of Nexon’s new IP▪

Announced agreements with Tencent to develop new experiences in THE FINALS and
ARC Raiders specifically customized to appeal to players in ChinaIP

New IP
CreationIP© 2024 NEXON Co., Ltd. All Rights Reserved.

2

Key Franchise Overview
Three Major Franchises in Aggregate Grew 57% Y/Y Driven by Dungeon&Fighter Mobile. Expect Continued Y/Y Growth in Q3

FRANCHISE

Dungeon&Fighter

MapleStoryFC

OVERVIEWFranchise revenues more thandoubled Y/Y driven by
Dungeon&Fighter Mobile.
Q3 revenues are also expected tomore than double Y/Y

Improvements in live operations andextending the IP to new regions andformats resulted in Y/Y revenue growth.
Expect a Y/Y decrease in Q3 due to achallenging comparison with a yearago quarter when the franchiseachieved record quarterly revenue

Down Y/Y in Q2. Expect Q3 revenue todecrease slightly Y/Y, due to a toughcomparison with record-setting Q3revenue in 2023

DETAILS
Dungeon&Fighter Mobile : Game offers localized content to suit the tastes of Chinese
players, successfully driving engagement and revenue outperformance. Expect its revenue
to begin to normalize in Q3 following the extremely strong launch
Dungeon&Fighter (PC) : Focused on improving the in-game economy and operating thegame stably in China. Anticipate Q3 revenue to grow Q/Q as new contents in July and
September are expected to improve player satisfaction
MapleStory (PC) :- In Korea, player engagement improved in Q2. Expect a Q/Q increase while asubstantial Y/Y decrease in Q3 due to a tough comparison with the record quarterly
revenue driven by the 2023 transformational update.
- In Japan, North America and Europe as well as Rest of World, we delivered double-digit
Y/Y growth. Expect Q3 revenues to increase slightly Y/Y in Q3
MapleStory M : Delivered significant Y/Y growth in global revenues in Q2. Expect todecrease Y/Y due to a tough comparison with Q3 2023 when its China service launched

MapleStory Worlds : Official service started in Korea in April and has expanded theMapleStory IP fanbase. Q3 revenue is expected to increase Q/Q
FC ONLINE1 : Exceeded outlook driven by successful updates and events in Q2. Expect Q3
revenues to decrease slightly Y/YFC MOBILE2 : Exceeded outlook. Expect Q3 revenues to be down Y/Y

1 Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile).
2 Official title is EA SPORTS FC MOBILE.

© 2024 NEXON Co., Ltd. All Rights Reserved.

3

Q2 2024 Results© 2024 NEXON Co., Ltd. All Rights Reserved.

4

Q2 2024 Highlights
Record Q2 Results Driven by Dungeon&Fighter Mobile. Revenues, Operating Income, Net Income All Exceeded Outlook

Revenues

Operating Income

Net Income2• Exceeded outlook driven by Dungeon&Fighter
Mobile and FC ONLINE1 partially offset by the lowerthan-expected performance of MapleStory• Exceeded outlook driven by significant revenue
outperformance• Exceeded outlook driven by operating income
outperformance and ¥8.2 billion FX gain on U.S.
dollar-denominated cash deposits• Y/Y increase due to a significant contribution from
Dungeon&Fighter Mobile which was partially offset
by a decrease in Dungeon&Fighter (PC) anddecreases in Wars of Prasia and FC ONLINE1 due totough comparisons with the strong performancesin the year ago quarter(Unit: ¥ millions, except per share data)• Recognized higher-than-expected performance-based
bonuses for contributions to great performances• Y/Y increase due to a significant contribution from
Dungeon&Fighter Mobile(Unit: ¥ billions)

Q2 2023

Q2 2024 Outlook

Q2 2024YoY %Revenues¥94,436¥92,310 ~¥104,731¥122,474

30%

3

PC

65,34054,832 ~60,03656,881(13%)

Mobile29,09637,478 ~44,69565,593125%

Operating income

27,614

17,337 ~

27,70345,22464%

Net income2

24,538

12,952 ~20,85839,87863%

28.80

15.44 ~

24.86

47.66

Earnings per share

Revenues

Operating Income

94.4

45.2
27.6

10.46

11.24

11.24

11.38

19.56

21.51

21.51

21.78

11%

USD/JPY137.37153.85153.85155.8813%

Q2 2023

Q2 2024

Q2 2023

39.9
24.5

9%

CNY/JPY

1 Official title is EA SPORTS FC ONLINE (PC) and EA SPORTS FC ONLINE M (mobile).
2 Net income refers to net income attributable to owners of the parent.
3 PC revenues include other revenues besides PC online games and mobile games.

2

Net Income

122.5

Exchange rates
100 KRW/JPY• Y/Y increase primarily due to an increase inoperating income

Q2 2024

Q2 2023

Q2 2024© 2024 NEXON Co., Ltd. All Rights Reserved.

5

Q2 2024 Revenue Breakdown
Q2 2024 Financial Results

Q2 2024 Revenue Breakdown(Unit: ¥ millions)

Q2 2024
Q2 2023

AsReported

YoY % Change

Constant
Currency

4

AsReported

Constant
Currency

4

Korea¥62,071¥48,870¥44,891

(21%)

(28%)

China

18,231

56,34051,565

209%

183%

Japan

2,313

4,556

4,297

97%

86%

North America and Europe

5,461

7,044

6,342

29%

16%

Rest of World2

6,360

5,664

5,190

(11%)

(18%)

94,436

122,474

112,285

30%

19%

3

65,34056,88152,016

(13%)

(20%)

Mobile29,096

65,59360,269125%

107%

Nexon Total

94,436

122,474

112,28530%

19%

Revenue by Platform
PC

1

40%

Region1

54%

Platform

46%

46%

Region1

Platform

Korea 40%

PC3 46%China 46%

Mobile 54%

Japan 4%
North America & Europe 6%

FX Rate
100 KRW/JPY

4%4%

Revenue by Region1

Nexon Total

6%

10.46

11.38

10.46

9%

CNY/JPY

19.56

21.78

19.56

11%

USD/JPY137.37155.88137.37

13%

Based 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.
3 PC revenues include other revenues besides PC online games and mobile games.

Rest of World2 4%4 Constant currency is a non-GAAP measure used to show performance unaffected byfluctuations in foreign currency exchange rates. Constant-currency basis amounts arecalculated 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

6

Q2 2024 Accumulated Results(Unit: ¥ millions, except per share data)(Unit: ¥ billions)

Q1-Q2 2024
Q1-Q2 2023

As-Reported

YoY % Change

Constant
Currency5

As-Reported

Constant
Currency5

Revenues

Q2 Accumulated
Operating Income

Net Income4

Revenue by Region1
Korea¥127,013¥106,210¥98,168

(16%)

(23%)

China

61,311

85,52278,893

39%

29%

Japan

5,922

8,186

7,780

38%

31%

North America and Europe

10,617

16,963

15,33360%

44%

Rest of World2

13,66014,011

12,921

3%(5%)

218,523

230,892

213,095

6%

(2%)

PC3

158,410

136,178

125,784

(14%)

(21%)

Mobile60,113

94,71487,31158%

45%

Nexon Total

218,523

230,892

213,095

6%(2%)

Operating income

83,88974,37068,667

(11%)

(18%)

77,32975,79670,166

(2%)

(9%)

90.49

90.44

Nexon Total

218.5

94.4

230.9

122.5

Revenue by Platform

Net income

4

Earnings per share

1 Based on the regions in which revenues originate; not a representation of revenues according to Nexon entities.
2 “Rest of World" includes Europe as well as other Asian countries and South American countries.

83.9
124.1

74.4

27.6

108.4

24.5
45.2

56.3
29.1

2023

2024

77.3

2023

2024

52.8

2023

75.8
39.9

Q2

35.9

Q1

2024

5 Constant 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.

3 PC revenues include other revenues besides PC online games and mobile games.
4 Net income refers to net income attributable to owners of the parent, as stated in Nexon’s consolidated financial results.

© 2024 NEXON Co., Ltd. All Rights Reserved.

7

Q2 2024 Korea – Highlights
Revenue Ranking by Region6

At the Low End of Outlook. FC ONLINE1 Outperformed while MapleStory was Below Expectations

PC2• PC2 revenues down 14% Y/Y‐

A contribution from MapleStory Worlds was more than offset by decreased revenues from Wars of Prasia and
FC ONLINE1 as well as MapleStory‐ FC ONLINE1: Above our outlook driven by successful updates and sales promotions which resonated wellwith our players. Down Y/Y due to a tough comparison with Q2 2023
‐ MapleStory: Taking a long-term approach and prioritizing player satisfaction. As a result, we saw
improvement in player engagement and a 13 point increase in the Net Promoter Score 3 Q/Q, but wedelivered Q2 revenues below the forecast‐ Wars of Prasia: Down Y/Y due to a challenging comparison with Q2 2023 when the game’s momentum
was extremely strong following its launch in late March of 2023

1

Y/Y, revenue decrease in Wars of Prasia, HIT2, Dungeon&Fighter Mobile and The Kingdom of the Winds: Yeon
Q/Q, revenue decrease primarily due to FC ONLINE M4 and Blue Archive
YoY% change:(Unit: ¥ millions)

As Reported:-21%

Constant Currency5:-28%

EA SPORTS FCTM ONLINEEA SPORTS FCTM ONLINE M

MapleStory

EA SPORTS FCTM MOBILE

Dungeon&FighterBlue Archive

Sudden Attack

MapleStory M

Wars of Prasia

The Kingdom of the Winds: Yeon

2

• Mobile revenues decreased 36% Y/Y and 22% Q/Q‐‐

MOBILE

375,85562,071

52,462
42,124

1

57,340

4

48,87056,202
38,832

19,947

19,653Q2 2023

Q3 2023

4 Official title is EA SPORTS FC ONLINE M (mobile).

PC

Mobile16,381

12,762Q4 2023

Q1 2024

Q2 2024

Official title is EA SPORTS FC ONLINE (PC).

2

36,108

13,6302 PC revenues include other revenues besides PC online games and mobile games.
3 Net Promoter Score assesses player satisfaction.

40,95955 Constant 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.

6 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
7 The 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.
© 2024 NEXON Co., Ltd. All Rights Reserved.

8

Q2 2024 China – Highlights
Significantly Exceeded Outlook Driven by Dungeon&Fighter Mobile• Dungeon&Fighter Mobile:‐‐

Revenue Ranking by Region3

Following the launch on May 21, the game acquired many new and dormant fans with little
cannibalization of the PC version
Our efforts in localizing content to suit the tastes of Chinese players drove player engagement
and revenue that exceeded our expectations

PC2

MOBILE• Dungeon&Fighter (PC):
‐
‐
‐
‐
‐

Within the range of the outlook; down Y/YFocused on improving the in-game economy while stably operating the game
Little cannibalization with Dungeon&Fighter Mobile; MAUs increased QoQ while launching themobile version in Q2
Y/Y MAUs, paying users, and ARPPU decreased
Q/Q MAUs increased while paying users and ARPPU decreased reflecting typical seasonality

1

Dungeon&Fighter

Dungeon&Fighter Mobile

MapleStory

MapleStory: The Legends of Maple4

Counter Strike Online

Blue Archive

YoY% change:(Unit: ¥ millions)

As Reported:+209%

Constant Currency1:

+183%

2

56,34018,073Q2 2023
1

15,133
158

20,943 3,101
Q3 2023

PC

44,186

Mobile29,182

24,044

18,231

2

12,154

12,396Q4 2023

2,737

26,716

Q1 2024

2,466
Q2 2024Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations inforeign 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 thesame CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter.

2 PC revenues include other revenues besides PC online games and mobile games.

3

3 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
4 Official title of MapleStory M in China.
5 The 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

9

Q2 2024 Japan – Highlights
Results as Planned

Revenue Ranking by Region4• Y/Y growth driven by a contribution from HIT: The World1 (launched on 4/17)
and continued strength in MapleStory and Blue Archive

PC3• MapleStory: Grew 79% Y/Y

MOBILE• Blue Archive: Grew Y/Y and delivered record-breaking Q2 revenue

1

MapleStory

HIT : The World

Dungeon&FighterBlue Archive

DAVE THE DIVEREA SPORTS FCTM MOBILE

YoY% change:(Unit: ¥ millions)

As Reported:+97%

Constant Currency2:

+86%

2

4,556
3,132

2,313

1,095

866
1,447
Q2 2023

2,037
Q3 2023

3,630
2,879

1,793

3

PC

1,413

3

1,367

1,512
Q4 20232,217
Q1 2024

1 Official title for HIT2 serviced in Japan.
2 Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations inforeign 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 thesame CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter.

2,763

MobileQ2 2024
3 PC revenues include other revenues besides PC online games and mobile games.
4 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
5 The 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

10

Q2 2024 North America and Europe
Results as Planned

Revenue Ranking by Region3• Y/Y growth driven by contributions from THE FINALS as well as growth in
MapleStory

PC2• THE FINALS: Within the expected range; continue to enhance the game
experience through improvements in the balance and game modes

MOBILE• MapleStory: Grew 49% Y/Y and delivered record-breaking Q2 revenue
1

MapleStory

MapleStory M

THE FINALSBlue Archive

DAVE THE DIVER

Choices: Stories You Play

YoY% change:(Unit: ¥ millions)

8,925

5,461

As Reported:+29%

Constant Currency1:

+16%

9,919
8,162
5,296

3,485
4,601

Q2 2023

1

7,044
3,697

1,706
3,755

2

2

PC

3
5,440

Q3 2023

3,561
Q4 2023

4,623

Q1 2024Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations inforeign 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 thesame CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter.

3,347

MobileQ2 2024

2 PC revenues include other revenues besides PC online games and mobile games.
3 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
4 The 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

11

Q2 2024 Rest of World 1 – Highlights
Below Outlook Due to Wars of Prasia

Revenue Ranking by Region4• Down Y/Y. The growth in MapleStory and MapleStory M was more than offset
by the revenue decrease in HIT2

PC3

• MapleStory: Grew 35% Y/Y and delivered record-breaking Q2 revenue

MOBILE• MapleStory M: Grew double-digit Y/Y• Blue Archive: Grew double-digit Y/Y
1

MapleStory

MapleStory M

DAVE THE DIVER

Blue Archive

Dungeon&Fighter

HIT2

YoY% change:(Unit: ¥ millions)

2,571

3,789
Q2 2023
1

4,239

-11%

Constant Currency2:

-18%

5,941

4,913

2,608

4,061
Q3 2023

2

8,347

8,300
6,360

As Reported:

3,333
Q4 2023

3,434
Q1 2024

5,664
3

3,129

PC

2,535

Mobile3

Q2 2024“Rest of World” includes other Asian countries as well as Central and South American countries.

2 Constant 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.

3 PC revenues include other revenues besides PC online games and mobile games.
4 Based on regions where the revenue originates; not a representation of revenues according to Nexon entities.
5 The 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

12

Q3 2024 Outlook© 2024 NEXON Co., Ltd. All Rights Reserved.

13

Q3 2024 Financial Outlook
Expect All-Time High Quarterly Revenue Driven by Dungeon&Fighter Mobile and The First Descendant

Revenues

Operating Income

Net Income3• Constant currency1 up 8% to 19%• Expect a Y/Y increase driven by revenue increase,partially offset by cost increases detailed in page 17.

• Expect a Y/Y increase primarily driven by operating
income increase• Expect increased performance-based bonuses forcontributions to great performances• In Q3 2023, we recorded a ¥6.0 billion FX gain
primarily on U.S. dollar-denominated cash deposits• Strong contributions from Dungeon&Fighter
Mobile and The First Descendant are expected
to be partially offset by MapleStory• Expect deferral of slightly over 50% of bookings
for The First Descendant(Unit: ¥ millions, except per share data)(Unit: ¥ billions)Q3 2023

Revenues¥120,256

2

PC

MobileQ3 2024 Outlook¥137,787~¥152,046

15%~

85,96473,733~80,268

(14%)

~

(7%)

34,29264,054~

71,778

87%

~

109%

Operating income

46,31046,005~57,287

(1%)

~

24%

Net income3

35,167

34,595~43,044

(2%)

~

22%

Earnings per share~

Q3 Accumulated (High-end)

YoY %
26%

Revenues

3

Net Income

Operating Income

382.9
338.8
152.0
120.3

41.28

41.68

51.86

100 KRW/JPY

11.02

11.45

11.45

4%

CNY/JPY

19.97

21.98

21.98

10%

USD/JPY

144.62158.73158.7310%

FX Rate Assumptions

4

Forex sensitivity : Every one Japanese yen
move against the U.S. dollar would have thefollowing impact on our financials for Q3 2024
1

Revenues
Operating Income

Constant 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&Fighterby applying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same
fiscal quarter.

0.90 billion yen
0.33 billion yen

94.4

124.1

2023

2 PC revenues include other revenues besides PC online games and mobile games.
3 Net income refers to net income attributable to owners of the parent.

122.5

108.4

2024

130.2

131.7

46.3

57.3

27.6
56.3

2023

45.2
29.1

2024

112.5

118.8

35.2

43.0

Q3

24.5

39.9

52.8

35.9

Q2
Q1

2023

2024

4 In most situations, the exchange rates of both the South Korean Won and the Chinese Yuan arelinked 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

14

Q3 2024 Korea / China Outlook
Korea

China

Expect revenues to decrease Y/Y due to MapleStory, Wars of Prasia andother mobile games

Expect revenues to more than double driven by Dungeon&Fighter Mobile
despite a decline in Dungeon&Fighter (PC)• PC1: Expect to decrease Y/Y• Dungeon&Fighter Mobile‐

Expect FC ONLINE2 to decrease slightly Y/Y compared with a record-setting
Q3 in 2023‐

Expect MapleStory to increase Q/Q but to decrease significantly Y/Y due toa challenging comparison with a year-ago quarter when we achieved
record-breaking quarterly revenue driven by the transformational update‐

Expect Wars of Prasia to decrease Y/Y due to a tough comparison with Q3
2023 when the momentum following the launch remained strong• Mobile: Expect to decrease Y/Y primarily due to Wars of Prasia and othermobile games(Unit: ¥ millions)Q3 2023

Q3 2024 Outlook

Actual

Low-end75,85550,853As-Reported

54,198(33%) ~ (29%)~

Constant
Currency3(36%) ~

Expect strong contributions as its revenue begins to normalize following theextremely strong launch• Dungeon&Fighter(PC): Expect to decrease Y/Y‐Introduced the Summer update (7/4), supported by events and packaged-items
sales; scheduled to introduce the National Day update (September)‐Continue to focus on improving the in-game economy and preparing appealing
content including the National Day update in September‐

Expect Q3 revenue to grow sequentially and the year-over-year rate of decline toimprove
Q3 2023

YoY % Change

High-end‐(31%)

Q3 2024 Outlook

YoY % Change

High-end

As-Reported

Constant
Currency363,896133% ~

166%

112% ~

63,896

Q3

24,044
18,231

56,340Q243,08029,182

Q1

Actual

Low-end24,04455,945~143%

75,85562,07164,9422023
1

Q3

48,870Q257,340Q12024(High-end)

PC revenues include other revenues besides PC online games and mobile games.

2 Official title is EA SPORTS FC ONLINE (PC).

54,1982023

2024(High-end)

3 Constant 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

15

Q3 2024 Japan / North America and Europe /Rest of World 1 Outlook
Japan

North America and Europe

Rest of World1

Expect revenues to increase significantly Y/YExpect revenues to increase significantly Y/YExpect revenues to increase Y/Y• Expect to benefit from The First Descendant(launched on 7/2)

• Expect a strong contribution from The First
Descendant (launched on 7/2)

• Expect to benefit from The First Descendant(launched on 7/2)

• Expect to benefit from HIT : The World2• Expect to benefit from THE FINALS• Expect a Y/Y increase in MapleStory• Expect a Y/Y decrease in mobile revenues• Expect a Y/Y increase in MapleStory and
MapleStory M• Expect a Y/Y decrease in HIT2

(Unit: ¥ millions)Q3 2023

Q3 2024 Outlook

Actual

Low-end

3,132

5,442

High-end~

6,125

YoY % Change

Q3 2023

Q3 2024 Outlook

As-Reported

Constant
Currency3

Actual

Low-end

74% ~

69% ~

8,925

16,821

96%

90%

High-end

~

8,925

3,132
2,313
3,609
2023
1

6,125

Q3

4,556
3,630

Q2
Q1

2024

(High-end)

Rest of World” includes other Asian countries as well as Central and South American countries.

2 Official title for HIT2 serviced in Japan.

5,461
5,156
2023

18,451Q3 2023

YoY % Change

Q3 2024 Outlook

As-Reported

Constant
Currency3

Actual

Low-end

88% ~

107%

79% ~

8,300

8,726

18,451

Q3

7,044

Q2

9,919

Q1

2024

(High-end)

97%

High-end~

9,376

YoY % Change
As-Reported

5% ~Constant

Currency3

13%

1% ~

8,300

9,376

Q3

6,360

5,664

Q2

7,300

8,347

Q1

2023

3 Constant 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 byapplying the same CNY/USD, USD/KRW and KRW/JPY exchange rates from last year's same fiscal quarter.

8%

2024

(High-end)© 2024 NEXON Co., Ltd. All Rights Reserved.

16

Q3 2024 Operating Income & Cost Outlook(Unit: ¥ billions)

Y/Y Operating Income Comparison (High-end)

Increased revenues
Increased HR costs1 primarily due toIncreased performance-based

bonuses for contributions for great
performances

13.9
2.8

31.8

1.6

2.5

Increased marketing costs primarily
associated with promotions for The
First Descendant
57.3

46.3

Increased PG fees related to sales
on Steam
Others include:• Increased cloud service costs

Operating Income

Revenue increase

HR Costs

1

Marketing Costs

2023 Q3

PG FeeOthersOperating Income

2024 Q3• Increased fees to creators2 in
MapleStory Worlds3(High-end)

1 HR costs includes HR cost (COGS), HR cost (SG&A) and R&D (SG&A).

3 MapleStory Worlds is a content creation platform in which users can use MapleStory assets tocreate their own game and share it with other players.

2 In MapleStory Worlds, if a player spends in the content, Nexon receives the payment and pays a specific ratio of that payment tothe content provider as a creator fee.

© 2024 NEXON Co., Ltd. All Rights Reserved.

17

Pipeline© 2024 NEXON Co., Ltd. All Rights Reserved.

18

Pipeline

The First Berserker: Khazan

ARC Raiders· Launch Schedule· Region· Platform
· IP

TBD
Korea, Japan, Global2
PC/Console
Dungeon&Fighter· Launch Schedule· Region· Platform
· IP

TBD
Korea, Japan, Global2
PC/ConsoleNew· Launch Schedule· Region· Platform
· lP

TBD
TBD
PC
MapleStory· Launch Schedule· Region· Platform
· IP

TBD
Korea
MobileMabinogi· Genre· Business Model

Hardcore Action RPG
Developer/Publisher· Genre· Business Model

PvPvE Extraction Shooter
Developer/Publisher· Genre· Business Model

MMORPG
Developer/Publisher· Genre· Business Model

MMORPG
Developer/Publisher

1

MapleStory N is a PC based MMORPG that combines blockchain technology with
MapleStory IP.

2 Include all the regions other than Korea, China and Japan.

MABINOGI MOBILE

MapleStory N1

3 The letters, graphics, symbols, logos and other marks, and illustrations, characters andother works, which are shown in this material are trademarks, registered trademarks,
copyrighted works or other legally protected materials owned by respective right holders.
4 Chart is illustrative excerpt of pipeline.

© 2024 NEXON Co., Ltd. All Rights Reserved.

19

Pipeline

SUPERVIVENAKWON: LAST PARADISEOVERKILL1

Vindictus: Defying Fate

· Launch Schedule· Region· Platform
· lP

TBD
Korea, JapanPC
NEW· Launch Schedule· Region· Platform
· IP

TBD
Korea, Global2
PC
New· Launch Schedule· Region· Platform
· IP

TBD
Korea
PC/Mobile
Dungeon&Fighter· Launch Schedule· Region· Platform
· IP

TBD
Korea, Global2
PC/Console
Vindictus (Mabinogi: Heroes)· Genre· Business Model

Action Sandbox
Publisher· Genre· Business Model

Extraction Survival
Developer/Publisher· Genre· Business Model

3D Action RPG
Developer/Publisher· Genre· Business Model

TBD
Developer/Publisher

1

Tentative title.

2 Include all the regions other than Korea, China and Japan.

3 The letters, graphics, symbols, logos and other marks, and illustrations, characters andother works, which are shown in this material are trademarks, registered trademarks,
copyrighted works or other legally protected materials owned by respective right holders.
4 Chart is illustrative excerpt of pipeline.

© 2024 NEXON Co., Ltd. All Rights Reserved.

20

Appendix© 2024 NEXON Co., Ltd. All Rights Reserved.

21

Financials© 2024 NEXON Co., Ltd. All Rights Reserved.

22

Summary of Results and Key Operational Metrics(Unit: ¥ millions, except per share data)
Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

YoY%(By Region)
Korea¥64,942¥62,071¥75,855¥52,462¥57,340¥48,870

(21%)

China

43,08018,231

24,044

15,13329,182

56,340

209%

Japan

3,609

2,313

3,132

2,879

3,630

4,556

97%

North America and Europe

5,156

5,461

8,925

8,162

9,919

7,044

29%

1

7,300

6,360

8,300

5,941

8,347

5,664

(11%)

PC 2

93,07065,34085,96459,80479,29756,881(13%)

Mobile31,01729,09634,292

24,77329,121

65,593

125%

Revenue

124,087

94,436120,256

84,577

108,418

122,47430%

Operating income

56,27527,61446,3104,546

29,14645,22464%

Net income (loss) 3

52,791

24,53835,167(41,887)

35,91839,87863%

Earnings per share

61.63

28.80

41.28

(49.47)

42.77

47.66

100 KRW/JPY

10.41

10.46

11.02

11.22

11.19

11.38

9%

CNY/JPY

19.34

19.56

19.97

20.59

20.79

21.78

11%

USD/JPY132.34137.37144.62147.89148.61155.88

13%

15.5

14.3

14.1

17.4

18.3

14.1

(1%)
(20%)

Rest of World(By Platform)

FX ratePC and Console KPI
MAU (millions)
PU (millions)

1

3.5

3.2

3.3

3.2

3.1

2.6

Pay Rate

22.5%

22.5%

23.7%

18.2%

17.0%

18.5%

ARPPU (as-reported)

15,074

9,553

11,2308,104

12,545

9,279

(3%)

“Rest of World” includes other Asian countries as well as Central and South American countries.

2 PC revenues include other revenues besides PC online games and mobile games.
3 Net income (loss) refers to net income (loss) attributable to owners of the parent.

© 2024 NEXON Co., Ltd. All Rights Reserved.

23

COGS and SG&A1(Unit: ¥ millions)

FY2023
Q1

Q2

Q3

Q4

Q1

Q2

¥34,233¥32,804¥35,908¥34,993¥40,557¥44,187

Royalty 2

14,529

11,206

11,378

8,768

11,862

10,304

HR cost (COGS) 3

13,861

14,857

17,681

19,504

19,13125,739Other (COGS) 4

5,843

6,741

6,849

6,721

9,564

8,144

Total SG&A 1

32,88334,28337,72042,85432,72332,422

HR cost

5,690

7,274

7,690

8,765

7,454

8,234

PG fee 510,448

9,828

11,625

9,084

9,476

7,762

R&D

5,944

5,666

6,093

6,916

5,411

6,239

Marketing/advertising expenses

6,709

7,219

7,669

11,380

5,430

4,816

Depreciation and amortization

795

907

910

1,696

1,012

1,338

3,297

3,389

3,733

5,013

3,940

4,033

Other Income 6

344

583

293

513

199

295

Other Expense 7

1,040

318

611

2,697

6,191

936

1,026

287

353

1,374

6,161

214

Total Cost of Revenue 1

Other

Includes: impairment loss
1

FY2024

Breakdown of COGS and SG&A are unaudited.

2 Royalty includes royalties paid to third-party developers inorder for us to obtain the right to publish their games.
3 HR cost (COGS) includes salaries, bonuses and benefits for ourlive game developers, who support post launch servicing,
updating and support for our games.

4 Other (COGS) primarily consists of depreciation andamortization of assets related to existing games,
connection fees (mainly comprised of co-location anddatacenter fees, internet bandwidth and access fees),
and the costs of purchasing and maintaining our servers
and computer equipment.

5 PG fee in SG&A includes commissions made to external
payment gateway companies when users purchase ingame 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 ourmobile native games globally, commissions we pay to
Steam regarding our PC online games globally andplatform commission fees related to mobile browser
games.

6 Other Income includes other non-operating income, reversal ofdeferred revenue and gain on sale of properties.
7 Other 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 onother non-current assets. It also includes impairment loss of gameIPs and goodwill.

© 2024 NEXON Co., Ltd. All Rights Reserved.

24

P&L Below Operating Income(Unit: ¥ millions)

FY2023
Q1

Q2

Q3

Q4

Q1

Q2

Operating Income¥56,275¥27,614¥46,310¥4,546¥29,146¥45,224

Finance Income 1

14,075

16,763

13,204

7,108

25,68019,325

Finance Costs 2

422

322

6,294

11,246518

608(Loss) / reversal of loss on revaluation 3

2,719

463

(822)

3,893

692

-

(744)

(1,691)461(1,536)(761)(2,507)---(44,425)--

Income / (loss) before Income Tax

71,90342,82752,859(41,660)

54,23961,434

Tax expense

18,637

18,372

17,374462

18,28822,046

475

(83)

318

(235)

33

(490)

52,791

24,53835,167(41,887)

35,91839,878Equity profit / (loss) of affiliates, equity
method companies
Impairment loss of investments
accounted for using equity method

Non-controlling interests
Net income / (loss) 41

FY2024

Finance Income includes interest income primarily on cash deposits. 2023 Q1, Q2, Q3,
and 2024 Q1, Q2 Finance Income includes FX conversion gains related to foreign
currency deposits and accounts receivable.

2 2023 Q4 Finance Costs are primarily caused by FX conversion loss related to foreign
currency deposits and accounts receivable.

3 Loss / reversal of loss on revaluation refers to loss / reversal of loss on revaluation of cryptocurrency.

4 Net income / (loss) refers to net income / (loss) attributable toowners of the parent.

© 2024 NEXON Co., Ltd. All Rights Reserved.

25

Cash Flow Statement(Unit: ¥ millions)

6 months ended
June 30, 2023

6 months ended
June 30, 2024

Cash flows from operating activities¥57,662¥34,309

Cash flows from investing activities(179,715)(67,856)

Cash flows from financing activities(35,686)(32,421)

Net increase / (decrease) in cash and cash equivalents(157,739)(65,968)

Cash and cash equivalents at beginning of fiscal year

409,368

280,515

10,37915,475

262,008

230,022

Effect of exchange rate change on cash and cash equivalents
Cash and cash equivalents at end of fiscal year

© 2024 NEXON Co., Ltd. All Rights Reserved.

26

Balance Sheet(Unit: ¥ millions)

December 31,
2023

June 30,2024

December 31,
2023

Asset

Liability

Current Assets

Current liabilities

June 30,2024¥280,515¥230,022

Current tax liabilities

17,932

22,659Other deposits

316,243

377,260

Current borrowings--

Other current assets

92,748153,266

Others71,442

77,344

Total current assets

689,506

760,548

Total current liabilities

89,374

100,003--

Cash and cash equivalents

Noncurrent liabilities

Noncurrent assets
Tangible assets

28,85430,483

Non-current borrowings

Goodwill

43,92447,357

Others102,154

123,734

Intangible assets

17,84725,634

Total noncurrent liabilities

102,154

123,734

Investments accounted for using equity method

58,12062,999191,528

223,737

Other non-current financial assets

179,199

239,586

Others80,65385,092

Shareholders' equity

Total noncurrent assets

408,597491,151

Capital stock

47,51049,132

1,098,103

1,251,699

Capital surplus

26,71928,394

Treasury shares(45,046)(23,371)

Other equity interest

159,857

235,975

Retained earnings

707,227

727,354

Non-controlling interests

10,308

10,478906,575

1,027,962

1,098,103

1,251,699

Total assets

Total liabilities

Total equity
Total liabilities and total equity© 2024 NEXON Co., Ltd. All Rights Reserved.

27

P&L by Reporting Segment 1
FY2023(Unit: ¥ millions)

Q1

Q2

FY2024
Q3

Q4

Q1

Q2

Japan
Revenue from external customers¥1,258¥1,072¥1,291¥1,347¥1,542¥1,357

Segment profit/(loss)(542)(1,610)(1,359)(1,042)

(785)

(601)

Revenue from external customers

117,877

89,590114,093

76,22297,002

115,288

Segment profit/(loss)

59,94533,32151,644

13,94638,80049,556

Revenue from external customers

1,081

647

689

771

1,312

549

Segment profit/(loss)

633

190

217

260

808

53

Revenue from external customers

3,432

2,948

3,851

4,715

5,732

3,961

Segment profit/(loss)(1,554)(2,713)(1,795)(2,301)(1,191)(1,002)

439

179

332

1,522

2,830

1,319

(1,509)(1,950)(2,149)(4,188)(2,509)(2,145)

-

-

-

-

-

0

(2)

111

70

55

15

4

Revenue from external customers

124,087

94,436120,256

84,577

108,418

122,474

Segment profit/(loss)

56,971

27,34946,6286,730

35,13845,865

Korea

China

North America

Others
Revenue from external customers
Segment profit/(loss)
Adjustments
Revenue from external customers
Segment profit/(loss)
Total

1

Representation based on location of Nexon’s entities; not based on regions where the revenue originates.

© 2024 NEXON Co., Ltd. All Rights Reserved.

28

NJ Corporate Entity Financial Statement 1 (1)(Unit: ¥ millions)(Unit: ¥ million)
Income Statement
Revenue

FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023¥5,208¥5,927¥7,024¥6,016¥5,411¥5,898¥5,872¥5,920

3,134

3,438

3,510

3,249

2,681

3,040

3,092

3,256

Gross profit

2,074

2,489

3,514

2,767

2,730

2,858

2,780

2,664

SG&A

6,736

6,941

9,447

7,910

7,893

11,26913,158

10,722

Operating profit / (loss)(4,662)(4,452)(5,933)(5,143)(5,163)(8,411)(10,378)(8,058)Non-operating income

636

5,049

15,64632,56547,902

94,27487,912

105,799

22

4,612

15,02530,313

46,46087,39776,891

100,098

1,826

1,969

9,352

4,063

2,802

1,700

4,747

176

Ordinary income / (loss)(5,852)(1,372)361

23,35939,937

84,16372,787

97,565Extraordinary income

852

58

109

635

189

1,007

8,417

756

Extraordinary losses

39,573

9,643

138

77

647

78

1,123

907

(44,573)(10,957)

332

23,91739,47985,09280,081

97,414

(201)

234

755

1,520

2,327

6,425

6,600

6,827

(44,372)(11,191)(423)

22,397

37,15278,66773,481

90,587

Cost of revenue

Includes: dividend income
Non-operating expenses

Income / (loss) before income taxes
Tax expense
Net income / (loss)

1

Excerpt of NEXON Co., Ltd.'s standalone financial statements included in Annual Securities Report (Yuuka Shouken Houkokusho).
Please note NEXON Co., Ltd.'s standalone financial statements are based on J-GAAP (Nexon Group's consolidated financial
statements are based on IFRS).

© 2024 NEXON Co., Ltd. All Rights Reserved.

29

NJ Corporate Entity Financial Statement 1 (2)(Unit: ¥ millions)
Balance Sheet
Current assets

December 31,

December 31,

December 31,

December 31,

December 31,

December 31,

December 31,

December 31,

2016

2017

2018

2019

2020

2021

2022

2023

¥52,632¥42,946¥55,209¥45,374¥85,462¥144,774¥135,225¥150,605

49,531

41,86853,096

43,10083,523

143,334

131,959

145,925

6,438

5,494

4,836

17,63017,85144,90335,84839,690

74

7

3

1

6

5

1

23

-

-

-

-

-

-

-

-

6,364

5,487

4,833

17,62917,84544,89835,847

39,66759,07048,44060,04563,004

103,313

189,677

171,073

190,295

Current liabilities

2,341

1,796

2,303

2,037

2,085

4,376

4,523

3,018

Non-current liabilities

448

457

415

363

469

468

640

892

2,789

2,253

2,718

2,400

2,554

4,844

5,163

3,910

Shareholder's equity

50,66941,23050,83853,13392,510174,099

149,456

169,546

Capital stock

3,307

9,183

14,19917,75722,47034,16738,88147,412

Capital surplus

88,621

43,021

36,84639,981

21,72033,417

38,131

46,662

86,064

34,58823,39722,974----(41,259)(10,974)(206)

22,614

48,320122,547

87,243

119,251(41,476)(11,191)(423)

22,397

48,103

122,330

87,026

119,034

(0)

-

(0)

(27,219)(0)(16,032)(14,799)(43,779)

Includes: cash and cash equivalents
Non-current assets
Property, plant and equipment
Intangeble assets
Investments and other assets
Total assets

Total liabilities

Includes: other capital surplus
Retained earnings
Includes: other retained earnings
Treasury shares
Valuation and translation adjustments

77

(10)

(21)

(28)

(21)

(15)

460

525

Subscription rights to shares

5,535

4,967

6,510

7,499

8,270

10,74915,994

16,314

Total net assets

56,281

46,18757,32760,604

100,759

184,833

165,910

186,385

Statement of changes in equity (excerpt)

1

FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022

FY2023

Payment of dividends(4,352)---(4,418)(4,440)(8,785)(8,579)Acquisition of treasury shares(5,000)(10,000)(1)(27,218)(2,783)(16,032)(98,767)(78,980)

Cancellation of treasury shares

5,000

10,000--30,002-100,000

50,000Excerpt of NEXON Co., Ltd.'s standalone financial statements included in Annual Securities Report (Yuuka Shouken Houkokusho).
Please note NEXON Co., Ltd.'s standalone financial statements are based on J-GAAP (Nexon Group's consolidated financial
statements are based on IFRS).

© 2024 NEXON Co., Ltd. All Rights Reserved.

30

Number of Employees by Reporting Segment

Full-time employees

March 31

June 30

September 30

December 31

March 31

June 30

2023

2023

2023

2023

2024

2024

Japan

270

268

264

266

258

251

Korea

6,216

6,397

6,570

6,675

7,124

7,117

China

191

192

190

190

190

192

North America

435

441

446

440

311

236

Others

576

624

646

660

683

679

Total

7,688

7,922

8,116

8,231

8,566

8,475

© 2024 NEXON Co., Ltd. All Rights Reserved.

31

Historical Financials(Unit: ¥ billions)North America
and Europe

Revenue by Region1
Korea

China

Japan

North America and Europe

423.4
353.7

4.4
7.8

108.4

4.1
8.0

155.3
36.4

2.7
7.9

172.9
29.9

4.4
12.5

67.0

190.3
21.0

6.4
11.4

183.1
16.9

75.4

74.2

19.2
48.4
28.7

63.9
43.0

65.4

77.0

74.2

FY12

FY13

FY14

FY15

FY16

9.8
12.1

17.1
115.4

4

253.7
11.4
14.1

21.5

13.2

248.5
19.5

13.9

293.0
10.4

274.5 10.5

16.5
19.9
81.2

10.5

17.0
18.7

23.8
20.1

80.5

73.8

89.8

FY17

FY18

FY19

4

165.0

154.7

FY20

FY21

155.3
8.2

100.2
FY12
1

28.4

34.2

190.3

183.1

42.0

43.3

127.0

138.7

148.3

139.8

FY13

FY14

FY15

FY16

Based 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.

China

FY2023
Revenue by
Region1

24%
212.9

FY22

353.7
234.9

108.4

3%

Korea
60%

255.3

FY23

423.4

Mobile

172.9

Japan

100.5

73.6

112.2

133.0

11.9

27.9
27.7

86.4

Revenue by Platform
PC3

7%

6%

Rest of World2

234.9

Rest of World2

4

51.4

253.7

293.0
248.5

54.9

97.1

60.6

274.5

119.2

28%

109.8

FY2023
Revenue by
Platform

78.1

183.5

198.9

188.0

195.9

196.4

FY17

FY18

FY19

4

FY20

FY21

243.9

FY22

Mobile

304.2

PC3
72%

FY23

3 PC revenues include other revenues besides PC online games and mobile games.
4 FY16 and FY19 grew Y/Y on a constant currency basis.

© 2024 NEXON Co., Ltd. All Rights Reserved.

32

NEXON IP© 2024 NEXON Co., Ltd. All Rights Reserved.

33

Dungeon&Fighter Franchise
LTD Overview
Launched 2005
Over 850 million registered users worldwide across all platforms
Combined life-to-date gross revenue of all platforms over $22 billion USD
Gross revenue is more than double the life-to-date box office ofStar Wars, the Harry Potter series and the entire Avengers series1
Constantly evolving for 19 years with new characters,skills and communities
Sustained top ranking on iOS in China following the mobile launch on
May 21, 2024. Also, mobile version was awarded Game of the Year by the
Korean Association of Game Industry in 2022
Easy-to-learn, hard-to-master accessibility, action-packed gameplay
and iconic, pixelated art make Dungeon&Fighter one of the world’s mostpopular and enduring game franchises

1 Life-to-date global box office revenues as of August 7th, 2024 sourced from BoxOfficeMojo.com
2 The 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 protectedmaterials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

3436

MapleStory Franchise
LTD Overview
Launched 2003
Over 250 million registered users worldwide across PC and mobile.
In Korea, player registration equates to 45% of the population
Combined PC and mobile life-to-date gross revenue over $5 billion USD

Combined PC and mobile revenue exceeds global box office of themovie franchise Frozen – one of Disney’s biggest1
An easy-to-learn, hard-to-master MMORPG with cross-cultural appeal
that has been growing players and revenue over 21 years. Players love
personalizing their characters
Revenue

Revenue

Korea MapleStory

2003
1 Life-to-date global box office revenues as ofAugust 7th, 2024 sourced from BoxOfficeMojo.com

2023

Year

2016

Korea MapleStory M

2023

Year

2 The letters, graphics, symbols, logos and other marks, and illustrations, characters and otherworks, which are shown in this material are trademarks, registered trademarks, copyrighted works
or other legally protected materials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

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KartRider Franchise
LTD Overview
Launched 2004
Registered users over 380 million worldwide across all platforms
Over half of all Korean population; over 45% of Taiwanese population
has played the game

Combined life-to-date gross revenue of all platforms over $1.0 billion
A fast-paced online casual racing game with easy-to-learn, hardto-master UI, and a universe of compelling characters which can bestylized to the player’s taste
KartRider: Drift started its service in Q1 2023

1 The letters, graphics, symbols, logos and other marks, and illustrations, characters andother works, which are shown in this material are trademarks, registered trademarks,
copyrighted works or other legally protected materials owned by respective rightholders© 2024 NEXON Co., Ltd. All Rights Reserved.

3638

Sudden Attack
LTD Overview
Launched 2005
Registered users over 23 million

Life-to-date gross revenue over $0.8 billion
Highly accessible online first-person shooter with fast,visceral action

1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material aretrademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

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The Kingdom of the Winds
Franchise LTD Overview
Launched 1996
Registered users over 26 million across PC and mobile
Combined PC and mobile life-to-date gross revenue over $0.6 billion
World’s longest-running graphic MMORPG. Over 28-year service
periodMobile version launched on July 15, 2020.
A popular and enduring MMORPG based on historical comic about
the Goguryeo Dynasty

1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material aretrademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

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Mabinogi

LTD Overview
Launched 2004
Registered users over 20 million worldwide
Life-to-date gross revenue over $0.7 billion

MMORPG with life-oriented content and contemporary music,
fashion, and cooking. Highly differentiated from existing battlefocused games that saturate the market

1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material aretrademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

3941

THE FINALSLTD Overview
Launched in 2023
Number of downloads over 20 million worldwide
First Person Shooter features team-based, shooting action thatpushes environmental dynamism, destruction, and player
freedom to their limits
Nexon and Embark Studios announced agreements with our
China publishing partner, Tencent, to develop new experiences
specifically customized to appeal to millions of players in China

1 The letters, graphics, symbols, logos and other marks, and illustrations, characters and other works, which are shown in this material aretrademarks, registered trademarks, copyrighted works or other legally protected materials owned by respective right holders© 2024 NEXON Co., Ltd. All Rights Reserved.

4041

Glossary of Terms
Term / Abbreviation

Meaning

FPS (first person shooter)A game in which the player plays from the point of view of the game character in three-dimensional graphics

MMORPG(massively multiplayer online role playing game)An online role-playing game that has a “massive” number (usually several hundred or more) of players who playconcurrently

MAU(monthly active user)

Monthly total number of users who logged in and played Nexon’s PC online games.
MAU in this presentation is the quarterly average of such numbers. Nexon’s PC online games include game developedand serviced by Nexon group, games developed by Nexon group and serviced by non-Nexon group publishers, andgame developed by non Nexon group acquired publishing rights.

ARPPU(average revenue per paying user)

The amount obtained by dividing monthly PC online game gross revenues by the number of monthly paying users.
ARPPU in this presentation is the quarterly average of such numbers. Gross revenues used in the calculation are in -gamesales, and exclude other revenues included in PC revenues such as sales from PC café time charge.

Pay Rate

The percentage rate obtained by dividing the number of monthly paying users by the number of monthly active users. Pay
rate in this presentation is calculated using the quarterly average of such numbers.

MCCU (maximum concurrent users)

The maximum number of users concurrently accessing a game at a particular moment. MCCU is generally used tomeasure the popularity of a game

Closed Beta Test (CBT)A trial version (beta version) of a game offered for a certain period of time to a limited number of users or groups. A
Limited Beta Test is an even smaller-scale trial mode of a game with fewer numbers of users or group

Open Beta Test (OBT)

A trial version (beta version) of a game a certain period of time without restrictions on participation.
OBT is usually conducted after CBT.

Tier One Update

Large scale update to existing PC games typically launched in Q1 or Q3 around peak season

Tier Two Update

Smaller update to existing PC games released throughout the year

© 2024 NEXON Co., Ltd. All Rights Reserved.

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Disclaimer
This presentation is prepared to offer reference information about NEXON group to the investors and is intended to generally provide
investors and analysts with financial and operational information about Nexon, but not to solicit or recommend any sale or purchase ofstock 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 Nexon or the sale of its
shares, including, without limitation, the information that would be stated under the captions “Risk Factors”, “Management’s Discussion andAnalysis of Financial Condition 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 financial measures included in our consolidated financial statements and presented inaccordance 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 similarterminology. These statements discuss expectations, identify strategies, contain projections of Nexon’s financial condition or results ofoperations or state other forward-looking information. The forward-looking statements in this presentation 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 anduncertainties that could cause actual results to differ materially from expectations include, without limitation:© 2024 NEXON Co., Ltd. All Rights Reserved.

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Disclaimer•

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 recognizing impairment losses;•

Continued growth of the online games market, including the underlying infrastructure, and free-to-play/item-based revenue generation 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.

© 2024 NEXON Co., Ltd. All Rights Reserved.

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Q3 2024 Earnings Release Schedule

Q3 2024 financial results are scheduled for release on

Tuesday, November 12th, 2024.
Nexon management is scheduled to host an online earnings presentation for investors, analysts and the media on the same day.
Details of the earnings conference call will be available on our IR website about a month prior to the release.

© 2024 NEXON Co., Ltd. All Rights Reserved.

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