Kakao Corrects Stock Option Grant Filing (Reflecting Treasury Stock Cancellation)

Reason for correction: Adjustment of stock option grant shares and exercise price due to treasury stock cancellation.
Adjustment details: Grant shares from 269,428 to 268,472; exercise price from 126,029 won to 126,434 won; total granted from 5,221,971 to 4,459,563 shares.
Grantees: 157 employees, fair value 49,131 won per share.
Exercise conditions: Exercise period from 2023.12.15 to 2028.12.15, vesting over 2-4 years of service.
Fair value calculation: Binomial model, expected exercise period 4.5 years, risk-free rate 2.142%, expected volatility 37.55%.
Treasury stock cancellation: As part of shareholder return policy, treasury shares were cancelled, leading to adjustment of existing stock option terms.

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