NAVER : 2Q 2023 NAVER Review Report

NAVER Corporation and its subsidiaries

Interim condensed consolidated financial statements for the six months ended June 30, 2023 and 2022 with the independent auditor's review report

NAVER Corporation and its subsidiaries

Table of contents
Report on review of interim condensed consolidated financial statements
	Page
Interim condensed consolidated financial statements
Interim condensed consolidated statements of financial position	1
Interim condensed consolidated statements of comprehensive income (loss)	3
Interim condensed consolidated statements of changes in equity	5
Interim condensed consolidated statements of cash flows	6
Notes to the interim condensed consolidated financial statements	7

Ernst & Young Han Young

2-4F,6-8F, Taeyoung Building, 111, Yeouigongwon-ro,

Yeongdeungpo-gu, Seoul 07241 Korea

Tel: [phone]

Fax: [phone] ey.com/kr

Report on review of interim condensed consolidated financial statements

(English Translation of a Report Originally Issued in Korean)

The Shareholders and Board of Directors

NAVER Corporation

We have reviewed the accompanying interim condensed consolidated financial statements of NAVER Corporation and its subsidiaries (collectively referred to as the "Group"), which comprise the interim condensed consolidated statement of financial position as of June 30, 2023, and the related interim condensed consolidated statements of comprehensive income (loss), interim condensed consolidated statements of changes in equity and interim condensed consolidated statements of cash flows for the six months ended June 30, 2023 and 2022, and a summary of material accounting policy information and other explanatory information.

Management's responsibility for the interim condensed consolidated financial statements

Management is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea ("KIFRS") 1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's responsibility

Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review.

We conducted our review in accordance with the Review Standards for Quarterly and Semiannual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing ("KSA") and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with KIFRS 1034 Interim Financial Reporting.

A member firm of Ernst & Young Global Limited

Other matter

We have audited the consolidated statement of financial position of the Group as of December 31, 2022, and the related consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended (not presented herein) in accordance with KSA, and our report dated March 7, 2023 expressed an unqualified opinion thereon. The accompanying consolidated statement of financial position as of December 31, 2022, presented for comparative purposes, is not different, in all material respects, from the above audited consolidated statement of financial position.

August 11, 2023

This review report is effective as of August 11, 2023, the independent auditor's review report date. Accordingly, certain material subsequent events or circumstances may have occurred during the period from the independent auditor's review report date to the time this review report is used. Such events and circumstances could significantly affect the accompanying interim condensed consolidated financial statements and may result in modification to this review report.

A member firm of Ernst & Young Global Limited

NAVER Corporation and its subsidiaries

Interim condensed consolidated financial statements for the six months ended June 30, 2023 and 2022

"The accompanying interim condensed consolidated financial statements, including all footnotes and

disclosures, have been prepared by, and are the responsibility of the Group"

Su yeon, Choi

Chief Executive Officer

NAVER Corporation