SK Telecom acquisitions, on the record

Word for word“In April 2020, we completed the merger of Tbroad Co., Ltd., a former leading cable television and other fixed-line telecommunications services provider in Korea, and two of its subsidiaries, Tbroad Dongdaemun Broadcasting Co., Ltd. and Korea Digital Cable Media Center Co. Ltd. (collectively, “Tbroad”), with and into SK Broadband.” 20-F for 2023

Word for word“In the same month, SK Telecom acquired a 55.0% equity interest in Broadband Nowon Co., Ltd. (formerly known as Tbroad Nowon Broadcasting Co., Ltd.), another subsidiary of Tbroad Co., Ltd., which was subsequently merged with and into SK Broadband in October 2022.” 20-F for 2023

Word for word“As part of such strategic alliance, we transferred the entirety of our 15.0% interest in HanaCard Co., Ltd. (“HanaCard”), a leading credit card company in Korea and a subsidiary of Hana Financial Group, for Won 330.0 billion in July 2022 and acquired 8,630,949 shares of Hana Financial Group (representing a 2.9% interest) for Won 330.0 billion between July and November 2022, and HanaCard acquired 1,307,471 common shares of us (representing a 0.6% interest) for Won 68.4 billion between July and September 2022.” 20-F for 2023

Word for word“In order to pursue enhancement of shareholder value and acceleration of growth of the Spin-off Businesses, we effected the Spin-off in November 2021.” 20-F for 2023

Word for word“For example, we completed the Tbroad Merger in April 2020, following which we became the second-largest pay TV provider in Korea in terms of number of subscribers as of December 31, 2024.” 20-F for 2024

Word for word“In the same month, SK Telecom acquired a 55.0% equity interest in Broadband Nowon Co., Ltd. (formerly known as Tbroad Nowon Broadcasting Co., Ltd.), another subsidiary of Tbroad Co., Ltd., which was subsequently merged with and into SK Broadband in October 2022.” 20-F for 2024

Word for word“Effective as of November 1, 2021, we conducted a horizontal spin-off (the “Spin-off”) of our businesses related to the management of our equity interests in certain subsidiaries and investees (the “Spin-off Portfolio Companies”) engaged in the semiconductor and certain other non-telecommunications businesses, including security, e-commerce and other new ICT businesses (the “Spin-off Businesses”).” 20-F for 2024

Word for word“Such transaction was completed in May 2025.” 20-F for 2025

Word for word“Furthermore, in March 2026, in order to enhance management efficiency and strengthen enterprise value through greater strategic flexibility, we entered into an agreement to acquire the remaining 0.9% equity interest in SK Broadband from minority shareholders.” 20-F for 2025

Word for word“In June 2025, SK Broadband acquired the business operations of the Pangyo Data Center from SK Inc. for Won 506.8 billion as part of its initiative to expand its data center operations and generate synergy.” 20-F for 2025