Public Notice of Small-Scale Merger

Kakao Corp. (the “Company”) hereby gives public notice that at the meeting of the Board of Directors held on August 21, 2026, the Company resolved to merge with Kakao Investment CO., LTD., through a small-scale merger (pursuant to Article 527-3 of the Korean Commercial Code), and subsequently entered into a merger agreement with Kakao Investment CO., LTD. as of August 24, 2026, as detailed below.

1. Merger Method: Merger of Kakao Investment CO., LTD.  into the Company

2. Merger Ratio: Kakao Corp.: Kakao Investment CO., LTD.  = 1 : 0 (The Company holds 100% of the shares of Kakao Investment CO., LTD., and this Merger will be conducted without the issuance of any new shares.)

3. Current Status of Parties

A. Surviving Company (the Company)    

1) Trade Name: Kakao Corp.

2) Location of Head Office: 242, Cheomdan-ro, Jeju-si, Jeju Special Self-Governing Province

※ For purposes of this Merger, Kakao Corp. means KakaoX Corp. (tentative name), the surviving company following the spin-off scheduled to occur prior to this Merger.

B. Merged Company

1) Trade Name: Kakao Investment CO., LTD.

2) Location of Head Office: 9F-B, Kakao Pangyo Agit, 166 Pangyoyeok-ro, Bundang-gu, Seongnam-si, Gyeonggi-do

※ For purposes of this Merger, Kakao Investment CO., LTD. means KakaoX Investment CO., LTD. (tentative name), the surviving company following the split-off scheduled to occur prior to this Merger and its subsequent merger with IVG Co., Ltd.

4. Merger Date: January 1, 2027 (expected)

5. Since the merger between the Company and Kakao Investment CO., LTD. satisfies the requirements for a small-scale merger under Article 527-3 of the Korean Commercial Code, the approval of the Board of Directors shall substitute for the approval of the Company's general meeting of shareholders regarding the merger.

6. Guidance on the Procedure for Submitting a Notice of Dissent

A. Procedures: Any shareholders registered on the shareholder register as of September 7, 2026, who oppose this Merger may submit a Notice of Dissent to Small-Scale Merger (see attached).

B. Submission Period: September 7, 2026 to September 21, 2026

C. Submission Method and Place

-        Registered Shareholders (Special Account): Submit via mail or in person to Shareholder Communication Team of Kakao Corp. by September 21, 2026

(Address: 166, Pangyoyeok-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, Republic of Korea, Team/ Zip Code: 13529, Telephone: 02-6718-3053)

-       Beneficial Shareholders (General Account): Submit to your brokerage firms by September 16, 2026 (three (3) business days prior to the deadline for registered shareholders) (Deadlines may vary by brokerage firm, so please check with your broker.)

-       Shareholders who object to the board resolution must complete the [Attachment] Notice of Dissenting Opinion and submit it according to the method of exercise.

D. Appraisal Rights: No appraisal rights are granted pursuant to Article 527-3, Paragraph (5) of the Korean Commercial Code.

E. Pursuant to Article 527-3, Paragraph (4) of the Korean Commercial Code, if any shareholder holding at least 20% of the total number of issued and outstanding shares of the Company notifies the Company of his/her dissent to the merger within the above submission period, the Company may not proceed with the small-scale merger through the Board of Directors’ approval in lieu of the approval of the general meeting of shareholders for the merger.

[Attachment]

September 7, 2026

Kakao Corp.

CEO Shina Chung