NAVER's subsidiary has decided to exchange shares with Dunamu, and the scheduled shareholder meeting date and exchange completion date have been changed.

The schedule for the share exchange transaction in which NAVER's subsidiary incorporates Dunamu as a wholly owned subsidiary has been changed. The company said it is securing future growth drivers based on digital assets through this transaction. The shareholder meeting originally scheduled for November 19, 2026 has been postponed to February 26, 2027, and the exchange and transfer date has been postponed from December 31, 2026 to March 31, 2027.

1. 01

   NAVER's subsidiary is conducting a share exchange to incorporate Dunamu as a 100% subsidiary, and through a corrected disclosure, the scheduled shareholder meeting date has been changed from November 19, 2026 to February 26, 2027, and the exchange and transfer date has been changed from December 31, 2026 to March 31, 2027.

2. 02

   Based on Dunamu's summary financial statements for the most recent fiscal year (consolidated financial statements as of 2024), total assets are KRW 15.3205 trillion, total liabilities are KRW 9.4353 trillion, and total equity is KRW 5.8851 trillion.

3. 03

   Dunamu shareholders may file objections from February 11, 2027 through 25 and exercise appraisal rights from February 26 through March 18, and the planned purchase price per share of the subsidiary is KRW 172,780.

4. 04

   The share exchange may be terminated if the scale of appraisal rights exercised by Dunamu shareholders or the subsidiary's shareholders reaches KRW 1.2 trillion or more respectively, and the subsidiary aims to list within 5 years after completion of the share exchange.

An AI model translated the Korean summary of this filing into English; every number is carried over from the Korean original. Reference information, not investment advice.

Key figures

Exchange ratio (Dunamu shares converted per share of the subsidiary)

2.5422618

Total number of new shares issued by the subsidiary

87,559,198 shares

Total amount of new share issuance

KRW 15.1285 trillion

Planned purchase price per share of the subsidiary for appraisal rights

KRW 172,780

Scheduled shareholder meeting date (as corrected)

February 26, 2027

Exchange and transfer date (as corrected)

March 31, 2027

Filing facts

Filing type

Share Exchange or Transfer

Report name

[Amended] Decision on Share Exchange or Transfer (Subsidiary)

Filed

Oct 7, 2026

Receipt number

20261007800306