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- Under the theme ‘Pitch the Future and Connect the Dots’, the event brought together leading AI startups and investors - The event showcased SK Networks’ key AI portfolio companies, including Upstage and PhnyX Lab - A panel discussion on the future of Sovereign AI featured SK Networks’ President & COO, Sunghwan Choi, and Upstage CEO, Sung Kim. - “SK Networks will continue to play a pivotal role in expanding the AI ecosystem and driving business innovation.” On September 17th, SK Networks (CEO: Hojung Lee) successfully hosted the ‘SK Networks AI WAVE 2025’ at Wavehill, Walkerhill Hotel & Resort in Seoul, where it introduced its key global AI investment portfolio and held panel discussions on the future of the AI industry and Sovereign AI. SK Networks AI WAVE aims to foster connections and exchanges between leading AI startups and investors, with its inaugural event held in 2023. This year’s event was co-sponsored by HF0 (Hacker Fellowship Zero), a fund invested in by SK Networks and renowned for its highly selective AI startup residency program in Silicon Valley. Over 100 participants, including investors, founders, and industry leaders, attended the event, featuring Upstage, the only startup selected for the government-led ‘Independent AI Foundation Model’ project. In his keynote speech, SK Networks' President & COO Sunghwan Choi stated, “In a rapidly changing world driven by technology, it is crucial to secure growth opportunities through active information exchange among innovative startups, industry leaders and prominent investors.” He also added, “Through this event, we aim to present our AI investment portfolio that we have built since 2020 and to expand the ecosystem where technology, capital, and vision are interconnected.” The event featured company presentations and Q&A sessions from SK Networks’ portfolio companies, led by Sang Eun Shin, Head of AI Growth at SK Networks, and HF0 portfolio companies by Dan Morse, Head of IR at HF0. Technologies showcased included platforms that automate advertising and animation production using AI and AI-based lending platforms designed to facilitate more efficient transactions between consumers and capital providers, which received positive feedback from participants. Companies included Upstage, which supports enterprise clients in building AI models and systems based on its competitive LLM technology, and PhnyX Lab, which launched Korea’s first generative AI solution specialized in the pharmaceutical industry and is expanding globally. Dan Morse, along with Sang Eun Shin, Minseok Bae, PhnyX Lab Founder & CEO, and Raven Gao, Pix AI Co-founder & CEO discussed ‘The Future of AI and Smart Investment Strategies’ offering different perspectives based on their background as corporate executive, investor, and founders. The highlight of the event was the panel discussion between SK Networks' President & COO Sunghwan Choi and Upstage CEO Sung Kim. Under the theme ‘The Future of Sovereign AI’, they exchanged views on the importance of Sovereign AI, the latest trends, and potential strategies to enhance the competitiveness. Mr. Choi emphasized, “Sovereign AI is a key strategy for securing digital sovereignty and advancing future industries. Korea must build its own AI ecosystem through bold government-led investments and public-private cooperation models, ensure alignment with global standards, and expand the technological ecosystem through domestic and international partnerships”. He added, “Tailored models optimized for Korean cultural background, and industrial environment will differentiate Sovereign AI from generic global big tech models”. Mr. Kim stated, “The key is to secure Korea’s technological leadership by leveraging globally recognized technological expertise and execution capabilities to lead the LLM field and enhance the sophistication of the latest frontier models.” He continued, “As part of the K-AI team, we will develop highly practical, industry-specific specialized models and expand a sustainable, independent AI ecosystem, enabling Korea to strengthen its global industrial and AI competitiveness in this new era.” SK Networks plans to continue hosting events such as SK Networks’ AI WAVE to share insights on technological and industrial trends with AI startups and investment partners, fostering mutual growth and innovation. The company also aims to accelerate its transformation into an AI enterprise by advancing its business model and strengthening investment collaborations. Sang Eun Shin stated, “SK Networks AI WAVE 2025 was designed not merely as a corporate briefing or forum, but as a genuine platform for exchange and to strengthen connections among industry stakeholders. As an AI-focused business holding company, we will strengthen our internal capabilities and expand our global tech network to further enhance our business portfolio and drive innovation-led outcomes”. [Reference: Participating Startups] Category Company Name Location Sector Overview SK Networks Investment PhnyX Lab USA Pharmaceuticals & Bio Developer of Cheiron, a workflow platform specialized in the pharmaceutical and bio industry Upstage Korea AI Solutions Developer of proprietary frontier language model Solar; supports enterprise AI model and system development Outstanding USA Fintech AI-based consumer lending platform offering lower rates to consumers and higher returns to capital providers LinusBio USA Healthcare Analyzes hair to support early disease diagnosis, patient monitoring, and drug development HF0 Investment AdsGency AI USA AI AdTech All-in-one platform automating the entire advertising process using AI Pix AI USA AI Image Generation Platform for real-time creation, editing, and sharing of high-quality anime/comic-style AI images Aquaria USA Climate Tech Produces clean drinking water by condensing atmospheric moisture and purifying it via filtration and UV sterilization iKHOR Labs USA AI Animation Production Provides AI tools that automate repetitive and labor-intensive animation tasks (1) SK Networks' President & COO Sunghwan Choi delivering the keynote speech at ‘SK Networks AI WAVE 2025’ held in Gwangjin-gu, Seoul. (2) SK Networks' President & COO Sunghwan Choi and Upstage CEO Sung Kim engaging in a dialogue on ‘The Future of Sovereign AI.’ (3) Venue view of the ‘SK Networks AI WAVE 2025’ event.

PhnyX Lab, a pioneering GenAI startup transforming how life science companies operate, announced the successful close of a $4 million seed round through a Simple Agreement for Future Equity (SAFE). The round was led by SK Networks, with participation from several prominent angel investors—including Aidan Gomez, co-founder and CEO of Cohere, and Illia Polosukhin, co-founder of NEAR Protocol—both of whom are original co-authors of “Attention Is All You Need,” the paradigm-shifting work that ushered in the transformer era and laid the foundation for today’s generative AI models, including ChatGPT. Their involvement follows extensive discussions with both Sung-hwan Choi, Executive Advisor to PhnyX Lab and COO of SK Networks, and Min-seok Bae, CEO of PhnyX Lab—reflecting a shared conviction in the transformative role of AI. “This funding marks an important milestone that reflects PhnyX Lab's potential to fundamentally transform how life science companies work,” said Min-seok Bae, CEO of PhnyX Lab. “Our mission goes beyond improving efficiency—we’re reimagining the way critical work gets done, helping organizations accelerate not only drug discovery but also approval and delivery. The early success of our Cheiron platform and its rapid adoption by leading pharmaceutical companies has proven the real-world impact of our technology. With this funding, we’re positioned to scale our team, deepen our product capabilities, and forge global partnerships that push the boundaries of what’s possible in life sciences.” PhnyX Lab’s flagship platform, Cheiron, launched in December 2024, is already gaining strong traction across industry with over 60 companies, including all of Korea’s top 10 pharmaceutical companies by revenue, using Cheiron to streamline complex workflows such as research paper and clinical trial searches. Building on this momentum, PhnyX Lab is now expanding Cheiron into a broader product suite. In June, the company entered strategic partnerships with SK Biopharmaceuticals and Samil Pharmaceutical to support the development of Cheiron Write—a new offering under the Cheiron brand designed to automate medical writing. Cheiron Write aims to compress documentation workflows that traditionally take months into just weeks or even hours. This expansion marks a pivotal step toward transforming manual, fragmented pharmaceutical processes into intelligent, integrated workflows—bringing the company closer to its vision of fundamentally reengineering how life sciences work. [Photo 1] Aidan Gomez (fourth from the left), co-founder and CEO of Cohere, visited Korea in March 2025 and posed for a commemorative photo at the SAMIL Building with Min-seok Bae (third from the left), CEO of PhnyX Lab; Sung-hwan Choi (fifth from the left), Executive Advisor (EA) to PhnyX Lab and COO of SK Networks; and others. [Photo 2] Illia Polosukhin, a co-founder of NEAR Protocol, participated in a panel discussion during PhnyX Lab’s launch event last year.

- Revenue and operating profit fell in comparison to the same period last year; the key point is to emphasize qualitative growth amid industry uncertainty - Expectations for achievements from the wellness robotics brand NAMUHX and other AI.Device strategies - ”Our aims are to achieve sustainable growth via robust operations and the exploration of AI-integrated models for specific business units.” SK Networks experienced a robust first quarter, reinforcing its stable business framework amid the effects of domestic and global economic declines, while establishing a foundation for its transformation into an artificial intelligence (AI) company. This has impacted immediate performance; nevertheless, it has firmly bolstered long-term growth potential. SK Networks, under the leadership of CEO Hojeong Lee, reported consolidated revenues of KRW 1.64 trillion and an operating profit of KRW 16.5 billion for the first quarter, according to a preliminary statement issued on the 13th. These figures indicate decreases of 21.1% and 15.6%, respectively, in comparison to the same period last year. This is considered to stem from Glowide's reorganization of product categories that emphasize profitable raw materials in chemical product trading, along with SK Magic's preemptive cost management for introducing new AI-related brands. Examining each business segment, Walkerhill Hotels & Resorts maintained strong revenue from room bookings, banquets, and outside projects, yet profits experienced a slight decline due to higher sales and general administrative (SG&A) expenses. SK Magic garnered favorable reactions for its exclusive collaborative water purifier developed in conjunction with the renowned French football club Paris Saint-Germain FC. SK Speedmate secured consistent profits through its emergency roadside services (ERS) and revitalized parts market, while En-core noted higher sales than last year despite being in an off-peak period by boosting its marketing efforts. The ICT Marketing business, however, experienced a decline in device sales compared to the previous year. In the second quarter, SK Networks is enhancing total operational capabilities and expediting the execution of strategies designed to leap as an AI company. A demonstration for NAMUHX, its AI wellness robotics brand, took place on the 23rd of last month, garnering notable attention from industry participants. NAMUHX is a brand developed from the resources of SK Magic, strategically guided by SK Networks, and it engages in its own brand communication, focusing on innovative functionalities and services that set it apart from SK Magic's current offerings. In the demonstration, the wellness robot showcased its skills by independently navigating to locations with air pollution, surpassing the effectiveness of three stationary air purifiers while monitoring users' health conditions in real-time, impressing those present. With the robot set to officially debut in July, NAMUHX aims to transform into an AI wellness platform that will provide comprehensive services, including tailored health management, emotional support, and spatial security in the future. The brand also intends to expand internationally, beginning with the United States and Malaysia. PhnyX Lab, which launched the nation’s first modular RAG (retrieval augmented generation) AI solution for the pharmaceutical industry called Cheiron last December, has helped AI development of the NAMUHX wellness robot and is getting ready to enter the market by creating customized partnerships with pharmaceutical companies and adding new features. Walkerhill has introduced the Walkerhill AI Guide, an interactive guidance platform leveraging OpenAI's GPT-4o, while SK Speedmate is working on implementing AI-driven automated estimation systems to use in damaged car repairs and other services. SK Networks is committed to creating a resilient and competitive business portfolio while carefully observing the volatile shifts in the industry landscape. The company intends to harmonize the procurement of essential AI technologies, integration with existing operations, and infrastructure growth to increase the value of its AI-focused holding company. An official from SK Networks remarked, “The first quarter marked a time when the company established a strong foundation for its complete shift towards becoming an AI company, concentrating on boosting the inherent competitiveness of its current business units and turning future growth strategies into reality.” The official emphasized, “In the latter part of the year, we will assist in the successful rollout of NAMUHX and generate new value by improving the AI integration effects for specific business segments. This will demonstrate that SK Networks is progressing toward the vision of “civilization of humanity through AI democratization.”” Attachment: Sales and profit scale for Q1, 2025 (based on K-IFRS consolidated financial statements) (Unit: KRW100M) Category Q1, 2024 Q1, 2025 Year-on-year variation Sales 20,756 16,367 -21.1% Operating profit 195 165 -15.6% Net income 73 △54 Turned a loss

- NAMUHX wellness robot debuts with buzz-worthy features like autonomous air purification and real-time health tracking - Silicon Valley–based AI startup PhnyX Lab preparing collaborative models with pharmaceutical firms - President Sunghwan Choi takes the lead in advancing AI initiatives through global tech networks - “By creating technology that serves people, we move closer to our future vision and enhance long-term sustainability.” As part of its company-wide push to enhance corporate value, SK Networks—positioning itself as a next-generation AI-focused holding company—is making headlines for turning strategy into action. From securing core AI technologies and integrating them into existing business lines to expanding infrastructure, the company is generating results that align closely with its strategic direction—capturing strong interest from stakeholders across the board. On the 8th, SK Networks (CEO: Hojeong Lee) announced that it is gaining real momentum in its transformation into an AI-driven enterprise, with concrete business models now taking shape across both its headquarters and subsidiaries. One key milestone in this journey is the launch of its dedicated AI brand, NAMUHX. NAMUHX, SK Networks’ wellness robotics brand, is already making waves. Focused on driving wellness innovation through robotics, the brand generated major buzz last month after its teaser video—released in early April—surpassed 9 million cumulative views. Leveraging this heightened interest, SK Networks hosted a high-profile launch showcase on April 23 at the Walkerhill Hotel & Resort. Born under the company’s broader AI strategy and powered by the assets of SK Magic, NAMUHX represents a bold step into the wellness-tech space. While drawing on SK Magic’s expertise, the brand distinguishes itself with cutting-edge features and services that break away from the company’s traditional product lines, carving out its own identity through unique brand communication. At the NAMUHX showcase, the featured wellness robot wowed attendees—including industry insiders and tech influencers—with live demonstrations of its air purification system, vital sign monitoring, and interactive service features. Observers were particularly impressed by the robot’s ability to autonomously navigate toward polluted areas and deliver precision air quality management, as well as its contactless facial recognition technology, which enabled real-time measurement of stress levels, pulse, and oxygen saturation. In a 60-pyeong (approximately 2,100 sq. ft.) test environment, the NAMUHX wellness robot demonstrated air purification performance that outpaced traditional fixed units by a wide margin—reducing pollutant levels by 80% more than three stationary air purifiers and achieving a cleaning speed over three times faster. The results underscore both the innovative edge and practical value of the product. Following its debut at the NAMUHX showcase, the wellness robot drew further attention at the 2025 World IT Show held at COEX. Looking ahead, SK Networks plans to open pre-orders in June, with a full commercial launch slated for July. The company is also setting its sights beyond Korea, with plans to expand into global markets including the United States and Malaysia. PhnyX Lab, an AI startup staffed by top-tier talent from Silicon Valley, is also starting to deliver measurable results. Late last year, the company launched ‘Cheiron’, Korea’s first modular RAG (Retrieval-Augmented Generation)–based AI solution tailored for the pharmaceutical industry—a breakthrough that is now being used by over 20 pharmaceutical companies. PhnyX Lab is accelerating its go-to-market efforts by developing customized collaboration models and expanding solution capabilities to meet the specific needs of corporate clients. The company also plays a critical role in powering the AI brain behind the NAMUHX wellness robot, contributing to a range of forward-looking innovation initiatives across SK Networks’ AI ecosystem. Much of the spotlight also falls on Sunghwan Choi, President at SK Networks, whose leadership is seen as pivotal in driving the company’s AI-forward strategy. Serving as Executive Advisor (EA) to both NAMUHX and PhnyX Lab, Choi has played a key role in building out SK Networks’ global tech network, Hicosystem, while spearheading efforts to scale the company’s AI value chain. His role has also been instrumental in driving new business opportunities through an open innovation ecosystem. At the NAMUHX showcase, where he publicly unveiled the wellness robot, he strated, “We must move beyond a world where people chase after technology; instead, technology should come to people.” His words captured the brand’s core identity of driving human-centric innovation, aligning with SK Networks’ broader commitment to integrating AI in ways that elevate everyday life and personal well-being. Choi is expected to remain deeply engaged in advancing SK Networks’ AI ventures. SK Networks is also making strong headway in embedding AI into its existing business operations. SK Speedmate, following a strategic partnership with German automotive data firm DAT last year, has been exploring AI applications in its parts platform business. The company is set to roll out an AI-powered automated estimate system for accident repairs before the end of the year. Walkerhill Hotel & Resort has already piloted personalized wellness programs for guests in collaboration with an AI healthcare firm, and recently launched the “Walkerhill AI Guide,” an interactive, AI-based concierge service designed to elevate the guest experience. In the ICT recycling space, MINTIT became the first in the industry to deploy AI deep learning technology for unmanned smartphone inspections—enhancing the accuracy of used phone grading and boosting trust in secondhand transactions. Meanwhile, En-core, a leading data solutions company under the SK Networks umbrella, is utilizing its data asset capabilities to form new partnerships and build integrated data services for AI applications, positioning itself for further growth through platform-driven business models. As it charts the next chapter, SK Networks plans to continue supporting its portfolio companies in discovering and scaling AI-integrated business models, with a clear focus on turning its long-term vision into near-term reality while enhancing its competitiveness in a rapidly evolving global tech landscape. “The advancement of AI technology is an unstoppable global force,” said Hojeong Lee, CEO of SK Networks. “With our solid financial foundation, we are committed to delivering tangible results—like NAMUHX and Cheiron—that reflect our mission to democratize AI in a way that’s relevant for this era.” He added, “Rather than chasing short-term gains through AI products and solutions, our aim is to lead the expansion of the industrial ecosystem and support long-term sustainability through global technological leadership.” [Photo 1] Sunghwan Choi, President at SK Networks and Executive Advisor to NAMUHX, demonstrates the wellness robot during the official showcase held on April 23. [Photo 2] At the PhnyX Lab launch event in December 2023, CEO Minseok Bae (right) and CPO Jiho Park (left) present a demo of Cheiron, a modular RAG-based AI solution tailored for the pharmaceutical industry. [Photo 3] SK Networks CEO Hojeong Lee speaks to shareholders about the company’s AI strategic direction during the annual general meeting held in March 2024.

- Held a breakfast meeting with ex-UK Prime Minister Rishi Sunak during his visit to South Korea and discussed exchanges and AI cooperation between both nations. - Anticipations that strengthening collaboration with important global figures and entities will enhance the corporate value of SK Networks. SK Networks, aiming to evolve into an “AI-focused business holding company,” is intensifying its initiatives to enhance collaboration and expand its operations through a global network. In this context, Sunghwan Choi, President & COO of SK Networks, who has been steering the tech-focused AI operations of the headquarters and its subsidiaries, reportedly met with former UK Prime Minister Sunak to explore methods for improving exchanges and corporate collaboration between the two nations. As stated by company representatives, this Tuesday at The Shilla Seoul, President Choi and former Prime Minister Sunak held a breakfast meeting to exchange global trends and discuss AI and other technological collaborations between nations and corporations. SK Networks founded Hico Capital (now SK Networks Americas) in Silicon Valley, USA, in 2020. The company has been concentrating on global investments in and partnerships with technology firms centered around Hicosystem, the human network associated with future expansion sectors. The opportunity for an unexpected in-person meeting between Rishi Sunak, who visited South Korea for an international conference, and Sunghwan Choi is believed to stem from this network. During this meeting, the pair shared perspectives on the current state of the global economy. They also discussed approaches to enhance relations between the two countries from the viewpoints of a politician and a business leader, as well as the possibilities and examples of AI collaboration at both national and corporate levels. In this context, President Choi presented innovative AI-based cases and global strategies from SK Group and SK Networks, expressing optimism that, in line with current trends, the company’s AI endeavors would grow in the UK and across Europe, aiding the advancement of human civilization. The industry has high expectations for the future potential of SK Networks, which is evolving into an AI company. In particular, NAMUHX held a showcase last month and received a favorable response from participants for its groundbreaking air purification and vital sign monitoring capabilities powered by AI. The brand intends to expand into the international market, including the US and Malaysia, following its official launch in Korea in July. It was established from the resources of SK Magic and is strategically overseen by SK Networks. NAMUHX manages its brand communication independently, emphasizing innovative technologies and services that differentiate it from SK Magic's existing products. PhnyX Lab, an AI startup comprised of Silicon valley talent, introduced a modular RAG (retrieval augmented generation) solution for the pharmaceutical sector named Cheiron at the end of last year and is preparing for market growth by forming tailored partnerships with businesses. The heads of SK Magic and PhnyX Lab attended the meeting alongside President Choi and former Prime Minister Sunak. Former Prime Minister Sunak stated, "AI holds the key to transforming the future of drug development. It promises new levels of speed and precision that could help hundreds of millions of patients around the world.” He added, “Phynx Lab’s Cherion looks like the kind of technology that has the potential to play an important part in this revolution.” SK Networks' efforts in collaborating and partnering with prominent global personalities and firms are expected to enhance its position as an AI enterprise. [Photo 1] [Photo 2]