NAVER is overhauling its governance structure by acquiring Naver Pay shares from Dunamu.

■ Transaction Overview NAVER announced through a regulatory filing on the 16th that it will acquire 179,999 shares of its affiliate Naver Pay Unlisted Co., Ltd. The acquisition amount is 29.4 billion won, with a per-share acquisition price of 163,333 won. The transaction date is June 30, 2026, and the shares of the unlisted company will be acquired through over-the-counter trading.

■ Stake Changes Upon completion of this transaction, NAVER's holdings in Naver Pay will increase to 216,734 shares, bringing its stake to 34.04%.

■ Purpose and Nature of the Transaction NAVER explained that the purpose of the transaction is to improve management efficiency through governance restructuring. The company stated that the deal involves acquiring shares of its affiliate Naver Pay Unlisted Co., Ltd. from non-affiliate Dunamu, and that it constitutes a transaction for a special relationship person under the Fair Trade Act.

■ Approval Process and Future Schedule The agenda was approved following a review by the Risk Management Committee on June 16, 2026. All three committee members attended and voted on the matter. However, the company added that the details may change depending on the progress of the transaction.