6 billion\- Annual operating income of KRW 430.5 billion\- Preparation for expanding XPLA ecosystem\- CEO and Management Outlook

Date: February 10, 2023 (Wed) 10:30 True Seek: CEO Lee Jong-un, CEO of Holdings, CEO Jae-won Song, Church Chung, Director of Financial Management Contents of the presentation: Comes Holdings 2022 Performance Presentation

■ Comes Holdings 2022 4Q and annual earnings summary ▣ Annual performance summary -4Q operating income of KRW 39.2 billion (electricity +21.8%, +15.3%last year), annual operating income of KRW 124.2 billion Despite the decline in investment in related companies, the company's revenue increased in the fourth quarter compared to the previous quarter and the same period due to the solid game business profits. -4Q operating loss of KRW 13.6 billion (electricity-2,023%, deficit shift from the same period last year), net loss of KRW 18.6 billion (electricity-150%, deficit compared to the same period last year), annual operating loss of KRW 19.1 billion (deficit) Transition), annual net loss of W62.4bn (deficit turning) In the fourth quarter, the company achieved a surplus of 3.6 billion won, but turned the deficit due to the loss of investment in related companies (19.5 billion won).

▣ Operating revenue analysis -4Q business revenue of KRW 36.9 billion (electricity +36.3%, +59.3%last year) B business revenue is increased compared to the previous quarter and the same period as the global performance of major new works continues and existing blockchain game revenue reflects -4Q-in-quarter investment income of 2.3 billion won (electricity-55.5%,-79.1%) B due to the weakening of short-term earnings of investment companies

▣ Operating cost analysis -4Q operating expenses of KRW 52.8 billion (electricity +61%, +81.4%last year) / annual operating cost of KRW 143.3 billion (+38.2%) -4Q-1 billion won (electricity-6.3%, +5.1%last year) / annual labor cost of 49.8 billion won (+18.8%) Red Decline compared to the previous quarter with efforts to improve human resources and efficiency to strengthen the promotion of new blockchain projects -4Q marketing expenses of KRW 2.2 billion (electricity-32.5%, +35.2%last year) / annual marketing cost of KRW 9 billion (+43.7%) -4Q payment fee of 5.8 billion won (electricity +1.9%, +26.7%last year) / annual payment fee 21.4 billion won (+7.8%) -4Q Royalty 6.5 billion won (electricity +26.3%,-6.3%) / Annual royalty 19.7 billion won (+4.9%) -4Q, other costs of 6.9 billion won (electricity +14.1%, +47.9%last year) B increased from the previous quarter due to the increase in new game launch and server fee related to the blockchain business. -19.5 billion won for investment in related companies ㄴ Reflecting operating costs for loss of equity method for investment companies

▣ Business plan -'Genoa' released the first 100 billion won in sales of Comes Holdings (2Q) ㄴ FGT completed game story and system verification, and polishing progress ㄴ Unreal Engine-based MMORPG provides high quality cartoon rendering visuals -In this year, new titles including Xenon are new titles of light 2 (tentative name, 3Q), creature (3Q), Leah line (1Q), raising Kim Deckchair (2Q), Eternal Three Kingdoms (2Q), Alchemist, Scheduled to be released in 3Q) -Main net PLA (PLA) Ecosystem expansion→ Blockchain business growth engine strengthening In addition to strengthening the P2O game and NFT business, the PLA ecosystem and related business growth through expansion to new business districts Villa ecosystems of various contents consumers such as advertising (PLA) PLA Mainnet-based P2O game lineup is being expanded. -Have Alliance Platform Ecosystem B building all-in-one & open platform that provides web 2, web 3 games and partners' customized services -Leap through an increase in assets holding assets Expectation of increasing asset value in accordance with the expansion of the PLA ecosystem B is expected to increase the value of coin-1 corporate value by cooperating with Aka Bank and revitalizing the coin market -Sustainable growth by improving earnings and increasing business value ㄴ Core IP-based Growth Launch and Increasing Value of Asset Values by Increasing Values Growth Drive ㄴ Establishment of major global web 3 ecosystems through Xpla-based digital platform and content expansion

■ Q & A think there's a high expectation internally about Xenon. What is the internal sales goal? What are the strengths that are different from other competitive games? Hwang Hwang-rok, head of the Hwang OK Division = We will answer sales targets and differentiated points. The sales target is aimed at achieving 100 billion won this year after achieving the second quarter.

The differentiation point has an Unreal engine-based cartoon rendering visual compared to third-party MMORPG, so gamers can immediately see different visuals. In addition to the PVP content in the server, the company prepared a 'invasion' between servers. This experience is expected to bring about attachment to servers and communities between servers.

Lastly, the last differentiation point is to dissolve the core charm that Genoa had in the MMORPG. Existing Genoa received a good evaluation as an action RPG, and it was devoted to making it more than the existing MMORPG base.

What is the profit structure related to the web 3 platform and PLA? Gang Dong-cheol, head of the Blockchain Division = Once I talk about the direction of the blockchain headquarters, we are striving to expand infrastructure and partnership this year. It is also trying to secure PLA's global recognition.

Various web 3 contents will be on board, including 'Mini Game Heaven' or 'Raising', a group representative IP. To explain about health, the onboard apps are serviced through third-party contracts with external developers, not their own development. Think of the app in the form of only views that can be easily enjoyed with a location based on location.

Swing Golf, a S2E project, is an app based on golf and has a structure to acquire tokens according to the results of various exercises, including swing exercises. Although it is not related to PLA's direct sales, it is expected to affect the expansion of the ecosystem.

In the supplementary explanation, the main net's operating revenue is the basic model that increases the value of virtual assets following the expansion of the ecosystem. Of course, that's not all, and you can get additional income from game services.

Is there any decision on the average monthly user and teaser and CBT schedule of the existing Xenon series? Hwang Hwang-rok General Manager = Existing Genoa Series is a game that has been in business sequentially, and since it is a distant game in the past, user data has not been secured in the past.

The marketing schedule will be held for teaser and pre-registration, and gamers who have experienced the existing Xenon series will be able to find this IP again, and will release game contents sequentially. Pre-registration is also not just a number, but a community that can be constantly conversation based on Genoa. Separate tests are not planned, but the game's pre-experience opportunities are concerned.

How is the coin value increase in the PLA ecosystem expansion? Gang Dong-cheol, General Manager = When various apps are activated and the ecosystem expands, tokens use the use of tokens. As the content expands, I think it will soon increase the use and lead to an increase in overall virtual assets.

What is the earnings guidance this year? Lee Jong-un's CEO = I am sorry that I did not provide official guidance. As I mentioned, we plan to service seven games, including Genoa, which is expected to sell 100 billion won this year, and is expected to grow more than ever. The blockchain business also expects a lot of growth, so we expect more than twice the number of front digits.

The affiliates, which were somewhat sluggish in 2022, are expected to grow in 2023, so they expect a clear turnaround.

Is all seven new publishing? And I'm curious about the payment fee, the labor costs, and the coin One situation. Chung Church's financial management situation = As of the end of 2022, Comes Holdings was 188 and 540 people based on overseas subsidiaries. The efficiency of manpower is always ongoing and is being controlled by proper labor costs. The MMO business sector is aiming to invest in human resources to strengthen its expertise, and at the same time, it is planning to make efficiency.

In the case of Coin One, Aka Bank collaborated with Aka Bank on the foundation for a long time, and enhanced investor's aggressiveness. In fact, indicators, including coin One's MAU, have a positive state.


For seven new works, it is a publishing service format with its own development and affiliates, and will be recorded as royalty.