The largest shareholder of Kakao Games has changed from the previous Kakao Corp. and 13 others to LTripleAInvestment LLC and 10 others. The date of change is June 19, 2026.

This change resulted from a third-party allotment capital increase and the execution of a share purchase agreement. The previous largest shareholder side held 40,359,440 shares (45.38% stake), but after the change, LTripleAInvestment LLC and 10 others will hold 41,441,235 shares (38.95% stake).

Change in Stake of Previous Largest Shareholder Kakao

In detail, the shares held by the previous largest shareholder, Kakao, decreased from 33,730,000 shares (37.93%) to 15,622,268 shares (14.68%).

Stake Composition of New Largest Shareholder LTripleAInvestment

Meanwhile, LTripleAInvestment LLC, which became the new largest shareholder, secured 35,566,086 shares (33.43%). Of these, 18,107,732 shares were acquired through share purchases, and the remaining 17,458,354 shares are new shares issued through a third-party allotment capital increase. The new shares will be placed under lock-up for one year in accordance with relevant regulations.

The company explained that the basis for calculating the stake percentage is the total number of issued shares with voting rights—106,391,256 shares—after the completion of the capital increase payment. Due to the increase in the number of issued shares from the capital increase, the previous largest shareholder side's stake was adjusted from 45.38% to 38.95%.

Purpose of Acquisition and Funding

Regarding the purpose of the share acquisition, the company explained it was "a strategic investment to strengthen global business competitiveness and secure a foundation for mid- to long-term growth."

The acquisition was funded with approximately KRW 410 billion (KRW 409,999,989,859) in own capital and approximately KRW 78.9 billion (KRW 78,926,994,383) in borrowings. The lenders include Korea Investment & Securities, and the borrowing period is from June 19, 2026, to June 19, 2029.

Governance Structure of LTripleAInvestment

The largest shareholder of LTripleAInvestment LLC is Petrico No. 6 Investment Partnership, and the largest contributor to that partnership is LY Corporation. LTripleAInvestment was established in 2026 and its primary business is financial services.

Kakao Games plans to appoint new executives through an extraordinary general meeting of shareholders in the future.