Investor Presentation Q4 2025

Nexon achieved record-high revenue for the 2025 fiscal year, underpinned by a robust global portfolio and the successful launch of ARC Raiders, which moved 14 million units. The MapleStory franchise remains a primary growth engine, bolstered by the introduction of the MapleStory: Idle RPG. These successes effectively offset a 21 percent year-over-year decline in the Dungeon&Fighter franchise, demonstrating the company’s ability to navigate shifting player engagement across its core intellectual properties.

Despite these revenue gains, financial performance faced headwinds as operating and net income fell short of initial projections. Elevated marketing expenditures, increased royalty fees, and performance-based human resource costs associated with new title launches constrained profitability throughout the year. While operating income remained largely flat, the company maintains a strong balance sheet and a commitment to shareholder returns, having doubled its dividend payout in 2025 and pledged to distribute at least 33 percent of annual operating income moving forward.

Looking toward the first quarter of 2026, the company anticipates continued revenue growth driven by sustained momentum in its diversified portfolio and the upcoming release of MABINOGI MOBILE. However, management expects ongoing pressure on operating margins due to sustained investment in marketing and development. While the outlook remains optimistic, these forward-looking projections are subject to inherent market risks, including regulatory shifts, intense industry competition, and technical execution challenges that could impact future financial outcomes.