Kakao : Adjustmentsof Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure)

Adjustments of Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure)

1. Category	Adjustment of Exchange Price
2. Type of bonds	The 12th Foreign Currency Denominated Overseas Exchangeable Bonds
- Warrant certificates listed?	Not applicable
3. Details of adjustment	Series No.	Price before adjustment (KRW)	Price after adjustment (KRW)
12	95,415	95,359
4. Change in the number of shares subject to conversion, exercise or exchange	Series No.	Total face value of unexercised securities (or electronically registered securities) (KRW)	Number of shares subject to conversion, etc. before adjustment	Number of shares subject to conversion, etc. after adjustment
12	329,382,900,000	3,452,122	3,454,139
5. Reasons for adjustment	Adjustment of exchange price due to cash dividend of Kakao Corp.
6. Basis and method of adjustment	1) Adjustment basis:Adjustment of exchange price due to cash dividend - The exchange price shall be adjusted in accordance with the terms and conditions of the bonds upon the occurrence of a reason for adjustment such as bonus issue, share split, reverse split, change of type of shares, additional issuance of options or warrants to shareholders, stock dividend, cash dividend, allotment of assets and issuance of new shares at less than market price. 2)Adjustment method - Price after adjustment = Price before adjustment X [(current market price - cash dividend per share)/current market price]
7. Effective date of adjusted price	2022-01-01
8. Date of board resolution (decision date)	-
- Attendance of outside directors	Present (No.)	-
Absent (No.)	-
- Attendance of auditors (members of Audit Committee who are not outside directors)	-
9. Other matters to be factored into investment decisions	- Above '4 . Total Face(electronic registration) Amount of Bonds(KRW)' is determined by translating the Exchange Price into Korean Won at the fixed rate of 1131.9 KRW/USD, as of October 21, 2020 at close. - Current market price = The arithmetic average of the daily closing prices of the relevant shares for the 20 consecutive trading days ending on and including the trading day immediately preceding the date of the base date which date is the immediately preceding trading day of the date on which the initial dividend is publicly announced.
※Related disclosure	2020-10-22 Decision on Issuance of Exchangeable Bonds 2021-03-29 Adjustments of Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure) 2021-04-14 Adjustments of Conversion Price, Warrant Exercise Price or Exchange Price (Information Disclosure)