Kakao Reports Correction on Stock Option Grant (Reflecting Treasury Stock Cancellation)

Kakao decided to grant stock options to 1,888 employees on May 4, 2021 (347,363 common shares, exercise price 116,823 won)
Adjusted grant shares and exercise price due to treasury stock cancellation (from 349,251 shares/116,449 won to 347,363 shares/116,823 won)
Exercise period: 2023.5.4~2028.5.4, vesting 50% after 2 years, 50% after 3 years
Fair value: 27,603 won (binomial model, expected life 4.5 years, volatility 38%, risk-free rate 1.9%)
Total outstanding after correction: 4,459,563 common shares (excluding other shares)