Kakao Brain Corp. announced a private placement of 400,000 common shares at a price of KRW 100,000 per share for gross proceeds of KRW 40,000,000,000 on April 21, 2022. The transaction will include participation from existing investor, Kakao Corp.

to retain its 100% stake in the company. The company followed shareholder allocation method in the transaction. The transaction has been approved by the board of directors of the company.