NEXON : Notice on Partial Payment and the Status of Applications for the Issuance of New Shares by Third Party Allotment

April 14, 2022

Name of Company:	NEXON Co., Ltd.
Representative:	Owen Mahoney, Representative Director, Chief
Executive Officer and President
(Stock Code: 3659, TSE Prime Market)
Contact:	Shiro Uemura, Representative Director and
Chief Financial Officer
Telephone:	03-6629-5318

Notice on Partial Payment and the Status of Applications for the Issuance of New Shares by Third Party Allotment

NEXON Co., Ltd. ("Nexon") announced today that the partial payment procedures for the issuance of new shares (the "New Shares") based on "Issuance of new shares by third party allotment (2)" has been completed, which were resolved at the extraordinary general meeting of shareholders held on September 25, 2019. The details are as follows.

1. Completion of the partial payment procedures for the issuance of the New Shares

With regards to the issuance of the New Shares, partial payment procedures have been completed by the due date, as below:

(1) Class of stock and number of new shares	Common stock 355,673 shares
(2) Payment amount	1 yen per share
(3) Total payment amount	355,673 yen This offering of New Shares is made in exchange for in-kind contribution of shares of common stock of Embark Studios (11,434,647 shares) as consideration, and no cash payment is made.
(4) Amount of capital increase	540,622,960 yen (1,520 yen per share)
(5) Amount of increase in capital reserve	540,622,960 yen (1,520 yen per share)
(6) Offering or allotment method	By means of third party allotment
(7) Payment date	Wednesday April 13, 2022
(8) Allottees and number of shares allotted	The New Shares shall be allotted by third party allotment to 25 employees of Embark Studios, who hold stock options of Embark Studios, in proportion to their stock option holding ratio. (All allottees are employees of the said company. See below.)

(Notes) 1. "Payment amount" and "Total payment amount" are shown based on the payment amount as such term is prescribed in Article 199, Paragraph 1, Item 2 of the Companies Act.

2. "Amount of capital increase" and "Amount of increase in capital reserve" are shown pursuant to Article 445, Paragraph 1 of the Companies Act and Article 14, Paragraph 1 of the Ordinance on Accounting of Companies, as well as other applicable accounting standard.

[Note: The personal information for each employee is omitted.]

Allottee	Number of shares allotted
Total number of shares	355,673 shares

Total number of shares outstanding before the issuance of the New Shares	899,520,469 shares (Amount of capital before the issuance: 34,845,735,371 yen)
Number of the New Shares issued	355,673 shares (Amount of capital increase due to the issuance: 540,622,960 yen)
Total number of shares outstanding after the issuance of the New Shares	899,876,142 shares (Amount of capital after the issuance: 35,386,358,331 yen)

(Note) "Total number of shares outstanding before the issuance of the New Shares" shows the total number of shares outstanding and the amount of capital as of March 31, 2022.

2. Status of applications for the issuance of the New Shares

Of the planned allottees of this issuance, those allottees listed in the following table will not receive allocation due to the forfeiture before Wednesday, April 13, 2022. Therefore, the maximum number of shares to be issued as the New Shares will be 97,844 shares.

[Note: The personal information for each employee is omitted.]

Forfeited Allottee	Number of shares allotted
Total number of shares	56,454 shares

End of Document