SK Telecom posts ₩8.75T H1 2026 revenue, ₩1.10T profit

SK TELECOM CO LTD (SKM) reports consolidated results for the first half of 2026 under K-IFRS, with total assets of ₩32.43 trillion and equity of ₩15.49 trillion, up from ₩12.96 trillion at December 31, 2025 as retained earnings and reserves increased.

Rhea-AI Filing Summary

SK TELECOM CO LTD (SKM) reports consolidated results for the first half of 2026 under K-IFRS, with total assets of ₩32.43 trillion and equity of ₩15.49 trillion, up from ₩12.96 trillion at December 31, 2025 as retained earnings and reserves increased. Wireless remains the core business, generating ₩6.50 trillion in external revenue (74% of consolidated sales), fixed-line ₩2.11 trillion (24%) and other businesses ₩147 billion (2%). Operating profit was ₩1.10 trillion, and profit attributable to owners reached ₩793.0 billion for the period.

SK Telecom completed a comprehensive share exchange in May 2026 to make SK Broadband a wholly-owned subsidiary, aiming for management efficiency and data-center-driven B2B growth; SK Broadband’s H1 2026 revenue was ₩2.31 trillion, up 3.43% year-on-year. The company continues active capital returns: quarterly dividends of ₩830 per share in March and June 2026, total cash dividends of ₩353.6 billion for the latest period, and ongoing treasury-share programs, including cancellation of 1.60 million shares planned to enhance shareholder value.

Credit quality remains strong, with domestic corporate bonds rated AAA (Stable) and hybrid securities AA+ (Stable), and foreign-currency bonds at A-/A3 (Stable) from major global agencies. Net debt is supported by diversified long-term unsecured bonds with covenant packages (debt ratio caps and lien limits), all reported as in compliance. SK Telecom ended June 2026 with 30.94 million mobile subscribers and a 5G subscriber ratio of 82%, and invested ₩441 billion in networks and media infrastructure plus ₩186.8 billion in R&D, targeting AI, 5G and data-center opportunities.

Positive

• Equity attributable to owners rose to ₩15.44 trillion from ₩12.86 trillion at December 31, 2025, materially strengthening the capital base.
• Domestic corporate bonds and short-term debt carry top-tier AAA (Stable) and A1/AAA ratings, while foreign-currency bonds are rated A- / A3 (Stable), supporting funding access and pricing.
• The company completed a share exchange to make SK Broadband 100%-owned, consolidating fixed-line, media and data-center operations for group-wide synergies.
• Shareholder returns include ₩353.6 billion of cash dividends for the latest period and planned cancellation of 1.60 million treasury shares, consistent with a policy to return at least 50% of adjusted profit.

Negative

• The Board decided on no dividends for the third quarter of 2025 and for the 2025 annual dividend, a notable break in the quarterly and annual payout pattern.

Filing Explained

As of June 30, 2026, 1,601,312 treasury shares awaited cancellation, while SK Broadband had not yet deployed all listed bond proceeds.

This Form 6-K is an interim report from a foreign private issuer and records, as of June 30, 2026, two structural items still in progress: treasury-share actions and SK Broadband’s use of bond proceeds.

The company had disposed of 75,636 treasury shares during the first half of 2026 for officer and employee compensation. It reported that 1,601,312 shares were scheduled for later cancellation, while 99,272 were expected to support compensation; the cancellation therefore remained planned rather than completed.

SK Broadband reported facility-fund bond proceeds whose planned uses were 210,000 million, 30,000 million, 130,000 million and 30,000 million, but actual use was 87,500 million for the first series and zero for the other listed series because the related investments were not yet due. The disclosure therefore separates committed bond financing from the portion of planned investment already deployed.

The stated next checkpoint for the treasury-share plan is approval at the general meeting of shareholders in March 2027, while the filing does not give a completion date for the remaining facility investments.

Key Figures

Consolidated operating revenue: ₩8,751,369 million Operating profit: ₩1,103,634 million Profit attributable to owners: ₩793,012 million +5 more

8 metrics

Consolidated operating revenue ₩8,751,369 million For the six months ended June 30, 2026

Operating profit ₩1,103,634 million For the six months ended June 30, 2026

Profit attributable to owners ₩793,012 million For the six months ended June 30, 2026

Total assets ₩32,430,151 million Consolidated, as of June 30, 2026

Equity attributable to owners ₩15,436,629 million Consolidated, as of June 30, 2026

Mobile subscribers 30.94 million Total SK Telecom subscribers as of June 30, 2026

SK Broadband revenue ₩2,310,000 million Approximate, six months ended June 30, 2026; 3.43% growth vs prior-year period

Cash dividend per share ₩1,660 Total cash dividends per common share for the latest period presented

Key Terms

K-IFRS, RE100, Net Zero, cross currency swap, +2 more

6 terms

K-IFRS financial

"information is presented on a consolidated basis in accordance with the International Financial Reporting Standards adopted for use in Korea (“K-IFRS”)"

RE100 technical

"one of the first information technology companies in Korea to join the RE100 (Renewable Electricity 100%) initiative"

Net Zero technical

"under the vision of “realizing a sustainable future based on AI” and to achieve Net Zero by 2050"

Net zero means balancing the greenhouse gases a company releases with the gases it removes or offsets so its overall contribution to warming is zero. Investors watch net zero commitments because they shape future costs, regulatory and legal risk, and public reputation—like a household balancing its budget to avoid debt—so a company's progress (or failure) can affect profits, asset values and long‑term financial stability.

cross currency swap financial

"Fixed rate foreign currency denominated bonds ... Foreign currency risk | Cross currency swap"

A cross currency swap is a contract where two parties trade cash flows in different currencies, typically exchanging both the initial amounts and ongoing interest payments, then reversing the exchange at a set date. For investors it matters because it lets borrowers and asset holders lock in funding costs or protect the value of foreign-currency cash flows—like temporarily swapping loans with someone who has the currency you need—while introducing counterparty and exchange-rate risks that can affect returns.

mobile virtual network operator (“MVNO”) technical

"SK Telink ... International wireless direct-dial “00700” services and mobile virtual network operator (“MVNO”) business"

Internet-of-Things (“IoT”) technical

"expected to accelerate the introduction of new services and the growth of Internet-of-Things (“IoT”)-based business-to-business (“B2B”) businesses"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did SKM’s consolidated revenue and profit look for the first half of 2026?

For the six months ended June 30, 2026, SK Telecom reported ₩8.75 trillion in consolidated operating revenue and ₩1.10 trillion in operating profit. Profit attributable to owners of the parent was ₩793.0 billion, with basic earnings per share of ₩3,676.

What are SKM’s main business segments and their contributions in 2026?

Wireless generated ₩6.50 trillion in external sales (74% of revenue), fixed-line ₩2.11 trillion (24%), and other businesses ₩146.9 billion (2%) for the six months ended June 30, 2026, highlighting the continued dominance of the mobile segment.

What did SKM disclose about SK Broadband in this 6-K?

SK Telecom acquired 100% of SK Broadband via a comprehensive share exchange in May 2026, paying ₩15,032 per share for remaining shares. SK Broadband recorded ₩2.31 trillion revenue in the first half of 2026, up 3.43% from the prior-year period.

What is SKM’s dividend and shareholder return policy for 2024–2026?

SK Telecom targets annual shareholder returns of at least 50% of adjusted consolidated profit via cash dividends and/or share repurchases and cancellations. For the latest period, total cash dividends were ₩353.6 billion, or ₩1,660 per share, with a 44.6% payout ratio.

How strong are SKM’s credit ratings as of mid-2026?

Korean agencies rate SK Telecom’s corporate bonds at AAA (Stable) and hybrid securities at AA+ (Stable). Internationally, foreign-currency bonds are rated A- (Stable) by S&P and Fitch and A3 (Stable) by Moody’s, all classified as regular ratings.

What is SKM’s mobile subscriber base and 5G penetration?

As of June 30, 2026, SK Telecom had 30.94 million mobile subscribers. It reported 17.97 million 5G subscribers, representing 82% of its total subscribers, reflecting a mature 5G customer base.

How much is SKM investing in networks and R&D in 2026?

For the six months ended June 30, 2026, SK Telecom invested ₩254 billion in wireless networks and systems and ₩370 billion in fixed-line and media infrastructure. R&D expenditures totaled ₩186.8 billion, or 2.13% of current sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Available on EDGAR 09/16/2026 - 06:06 AM Accepted by SEC EDGAR 09/16/2026 - 06:05 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF September 2026

COMMISSION FILE NUMBER: 333-04906

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

65, Eulji-ro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

SEMI-ANNUAL BUSINESS REPORT

(From January 1, 2026 to June 30, 2026)

THIS IS A SUMMARY OF THE SEMI-ANNUAL BUSINESS REPORT ORIGINALLY PREPARED IN KOREAN WHICH IS IN SUCH FORM AS REQUIRED BY THE KOREAN FINANCIAL SERVICES COMMISSION.

IN THE TRANSLATION PROCESS, SOME PARTS OF THE REPORT WERE REFORMATTED, REARRANGED OR SUMMARIZED FOR THE CONVENIENCE OF READERS.

ALL REFERENCES TO THE “COMPANY” SHALL MEAN SK TELECOM CO., LTD. AND, UNLESS THE CONTEXT OTHERWISE REQUIRES, ITS CONSOLIDATED SUBSIDIARIES. REFERENCES TO “SK TELECOM” SHALL MEAN SK TELECOM CO., LTD., BUT SHALL NOT INCLUDE ITS CONSOLIDATED SUBSIDIARIES.

UNLESS EXPRESSLY STATED OTHERWISE, ALL INFORMATION CONTAINED HEREIN IS PRESENTED ON A CONSOLIDATED BASIS IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTED FOR USE IN KOREA (“K-IFRS”) WHICH DIFFER IN CERTAIN RESPECTS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN CERTAIN OTHER COUNTRIES, INCLUDING THE UNITED STATES. THE COMPANY HAS MADE NO ATTEMPT TO IDENTIFY OR QUANTIFY THE IMPACT OF THESE DIFFERENCES.

I. COMPANY OVERVIEW

1. Company Overview

The following table sets forth a summary of the Company’s consolidated subsidiaries:

		Number of Consolidated Subsidiaries
Classification		Beginning of the Reporting Period		Additions		Subtractions		End of the Reporting Period		Number of Material Subsidiaries*
Listed Companies		0		0		0		0		0
Unlisted Companies		19		0		1		18		12
Total		19		0		1		18		12

* “Material Subsidiary” means a subsidiary with total assets of Won 75 billion or more as of the end of the previous fiscal year.

For a list of the Company’s subsidiaries as of June 30, 2026, see Note 1(2) of the notes to the Company’s interim consolidated financial statements attached hereto.

Changes in the Company’s consolidated subsidiaries during the six months ended June 30, 2026 are set forth below.

Change		Name		Remarks
Exclusions		Global AI Platform Corporation Korea Co., Ltd. (“Global AI Platform Corporation”)		Liquidated during the reporting period

A. Corporate Legal Business Name: SK Telecom Co., Ltd.

B. Date of Incorporation: March 29, 1984

C. Location of Headquarters

(1) Address: 65 Euljiro, Jung-gu, Seoul, Korea

(2) Phone: +82-2-6100-2114

(3) Website: http://www.sktelecom.com

D. Major Businesses

The Company’s businesses consist of (1) the wireless business including cellular voice, wireless data and wireless Internet services, (2) the fixed-line business including fixed-line telephone, high-speed Internet, and data and network lease services, and (3) other businesses including commercial retail data broadcasting channel services, among others. 

Set forth below is a summary description of each of the Company’s businesses.

Classification		Material Entities		Description of Business		Proportion of Revenue
Wireless business		SK Telecom		Mobile telephone, wireless data, information and communications services, etc.		74%
		PS&Marketing Co., Ltd. (“PS&Marketing”)
		SK O&S Co., Ltd. (“SK O&S”)
Fixed-line business		SK Broadband Co., Ltd. (“SK Broadband”)		Telephone, high-speed Internet, data, communications network leasing services, etc.		24%
		SK Telink Co., Ltd. (“SK Telink”)
		Home & Service Co., Ltd. (“Home&Service”)
Other businesses		SK stoa Co., Ltd. (“SK Stoa”)		Commercial retail data broadcasting channel services, database and online information provision services, etc.		2%
Total						100%

3

The total number of the Company’s consolidated subsidiaries as of June 30, 2026 was 18, including SK Broadband and PS&Marketing, among others.    

E. Credit Ratings

(1) Corporate bonds and other long-term securities

Credit Rating Date		Subject of Rating		Credit Rating		Credit Rating Entity (Credit Rating Range)		Rating Classification
February 7, 2024		Corporate bond		AAA (Stable)		Korea Ratings		Current rating
February 7, 2024		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Current rating
February 7, 2024		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Current rating
June 7, 2024		Hybrid securities		AA+ (Stable)		Korea Ratings		Current rating
June 7, 2024		Corporate bond		AAA (Stable)		Korea Ratings		Current rating
June 11, 2024		Hybrid securities		AA+ (Stable)		Korea Investors Service, Inc.		Current rating
June 11, 2024		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Current rating
June 17, 2024		Hybrid securities		AA+ (Stable)		NICE Investors Service, Co., Ltd.		Current rating
June 17, 2024		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Current rating
November 26, 2024		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Current rating
November 27, 2024		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Current rating
November 27, 2024		Corporate bond		AAA (Stable)		Korea Ratings		Current rating
February 10, 2025		Corporate bond		AAA (Stable)		Korea Ratings		Current rating
February 10, 2025		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Current rating
February 10, 2025		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Current rating
August 28, 2025		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Current rating
September 1, 2025		Corporate bond		AAA (Stable)		Korea Ratings		Current rating
August 29, 2025		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Current rating
June 2, 2026		Corporate bond		AAA (Stable)		Korea Ratings		Regular rating
June 19, 2026		Corporate bond		AAA (Stable)		Korea Investors Service, Inc.		Regular rating
June 16, 2026		Corporate bond		AAA (Stable)		NICE Investors Service, Co., Ltd.		Regular rating

* Rating definition: “AAA” – The certainty of principal and interest payment is at the highest level with extremely low investment risk and is stable such that it will not be influenced by reasonably foreseeable changes in external factors.

** Rating definition: “AA” – The certainty of principal and interest payment is very high with very low investment risk, but has slightly inferior factors compared to securities that are rated “AAA.”

*** From ratings “AA” to “B,” “+” and “-” signs are attached depending on the relative superiority within the grade.

4

(2) Commercial paper (“CP”) and short-term bonds

Credit Rating Date		Subject of Rating		Credit Rating		Credit Rating Entity (Credit Rating Range)		Rating Classification
June 7, 2024		Short-term bond		A1		Korea Ratings		Current rating
June 7, 2024		CP		A1		Korea Ratings		Current rating
June 11, 2024		Short-term bond		A1		Korea Investors Service, Inc.		Current rating
June 11, 2024		CP		A1		Korea Investors Service, Inc.		Current rating
June 17, 2024		Short-term bond		A1		NICE Investors Service Co., Ltd.		Current rating
June 17, 2024		CP		A1		NICE Investors Service Co., Ltd.		Current rating
November 26, 2024		Short-term bond		A1		Korea Investors Service, Inc.		Current rating
November 26, 2024		CP		A1		Korea Investors Service, Inc.		Current rating
November 27, 2024		Short-term bond		A1		Korea Ratings		Current rating
November 27, 2024		CP		A1		Korea Ratings		Current rating
November 27, 2024		Short-term bond		A1		NICE Investors Service Co., Ltd.		Current rating
November 27, 2024		CP		A1		NICE Investors Service Co., Ltd.		Current rating
June 12, 2025		Short-term bond		A1		Korea Investors Service, Inc.		Current rating
June 12, 2025		CP		A1		Korea Investors Service, Inc.		Current rating
June 12, 2025		Short-term bond		A1		Korea Ratings		Current rating
June 12, 2025		CP		A1		Korea Ratings		Current rating
June 13, 2025		Short-term bond		A1		NICE Investors Service Co., Ltd.		Current rating
June 13, 2025		CP		A1		NICE Investors Service Co., Ltd.		Current rating
June 2, 2026		CP		AAA (Stable)		Korea Ratings		Current rating
June 19, 2026		CP		AAA (Stable)		Korea Investors Service, Inc		Current rating
June 16, 2026		CP		AAA (Stable)		NICE Investors Service Co., Ltd		Current rating
June 2, 2026		Short-term bond		AAA (Stable)		Korea Ratings		Current rating
June 19, 2026		Short-term bond		AAA (Stable)		Korea Investors Service, Inc		Current rating
June 16, 2026		Short-term bond		AAA (Stable)		NICE Investors Service Co., Ltd		Current rating

* Rating definition: “A1” – Timely repayment capability is at the highest level with extremely low investment risk and is stable such that it will not be influenced by reasonably foreseeable changes in external factors.

5

(3) International credit ratings

Credit Rating Date		Subject of Rating		Credit Rating		Credit Rating Entity (Credit Rating Range)		Rating Classification
February 25, 2024		Bonds denominated in foreign currency		A- (Stable)		S&P Global Ratings		Regular rating
May 2, 2024		Bonds denominated in foreign currency		A- (Stable)		Fitch Ratings		Regular rating
May 24, 2024		Bonds denominated in foreign currency		A3 (Stable)		Moody’s Investors Service		Regular rating
January 7, 2025		Bonds denominated in foreign currency		A- (Stable)		Fitch Ratings		Regular rating
February 25, 2025		Bonds denominated in foreign currency		A- (Stable)		S&P Global Ratings		Regular rating
April 2, 2025		Bonds denominated in foreign currency		A3 (Stable)		Moody’s Investors Service		Regular rating
November 4, 2025		Bonds denominated in foreign currency		A- (Stable)		Fitch Ratings		Regular rating
April 7, 2026		Bonds denominated in foreign currency		A- (Stable)		S&P Global Ratings		Regular rating

(4) Listing (registration or designation) of Company’s shares and special listing status

Listing (Registration or Designation) of Stock		Date of Listing (Registration or Designation)		Special Listing
KOSPI Market of Korea Exchange		November 7, 1989		Not applicable

2. Company History

March 1984: Establishment of Korea Mobile Telecommunications Co., Ltd.

November 1989: Listing on the KOSPI Market of the Korea Exchange

March 1997: Change of name to SK Telecom Co., Ltd.

March 2008: Acquisition of Hanaro Telecom (the predecessor entity of SK Broadband)

May 2018: Acquisition of ADT CAPS Co., Ltd. (“Former ADT CAPS”) through the acquisition of shares of Siren Holdings Korea Co., Ltd.

December 2018: Comprehensive exchange of shares of SK Infosec Co., Ltd. (“SK Infosec”)

April 2020: Merger of SK Broadband and Tbroad (“Tbroad Merger”)

December 2020: Spin-off of T map Mobility Co., Ltd. (“T Map Mobility”)

March 2021: Merger of SK Infosec and Former ADT CAPS

November 2021: Spin-off of SK Square Co., Ltd. (“SK Square”) from SK Telecom (the “Spin-off”)

A. Location of Headquarters

- 22 Dohwa-dong, Mapo-gu, Seoul (July 11, 1988)

- 16-49 Hangang-ro 3-ga, Yongsan-gu, Seoul (November 19, 1991)

- 267 Namdaemun-ro 5-ga, Jung-gu, Seoul (June 14, 1995)

- 99 Seorin-dong, Jongno-gu, Seoul (December 20, 1999)

- 65 Euljiro, Jung-gu, Seoul (December 13, 2004)

6

B. Significant Changes in Management

Date of Change		Shareholder Meeting Classification		Appointment				Term Termination or Dismissal
				Newly Appointed		Re-elected
March 25, 2022		General Meeting of Shareholders		Jong Ryeol Kang		Seok-Dong Kim		—
March 28, 2023		General Meeting of Shareholders		Hae Yun Oh		Yong-Hak Kim, Junmo Kim		Jung Ho Ahn
March 26, 2024		General Meeting of Shareholders		Yang Seob Kim, Sung Hyung Lee, Mi Kyung Noh		Young Sang Ryu		Kyu-Nam Choi, Youngmin Yoon
March 26, 2025		General Meeting of Shareholders		Dong Soo Kang, Chang Bo Kim		—		Jong Ryeol Kang, Sung Hyung Lee, Seok-Dong Kim
March 26, 2026		General Meeting of Shareholders		Jaihun Jung, Myung Jin Han, Poong Young Yoon, Seong Yeob Lee, Tay Seop Lim		Hae Yun Oh		Young Sang Ryu, Yang Seob Kim, Dong Soo Kang, Yong-Hak Kim, Junmo Kim

* At the 42nd General Meeting of Shareholders held on March 26, 2026, Tay Seop Lim and Seong Yeob Lee were newly elected as an independent director/audit committee member and an audit committee member, respectively.

C. Mergers, Acquisitions and Restructuring

[SK Telecom]

(1) Conversion of SK Broadband into a wholly-owned subsidiary

As disclosed in the current report on Form 6-K titled “Completion of Share Exchange” furnished by the Company on May 29, 2026, the Company converted SK Broadband into a wholly-owned subsidiary in order to enhance management efficiency and flexibility and to increase corporate value by generating business synergies between the two companies. To this end, the Company acquired a 24.76% equity interest in SK Broadband in November 2024 and converted SK Broadband into a wholly-owned subsidiary through a comprehensive share exchange in May 2026.

[SK Broadband]

(1) Establishment of a subsidiary and acquisition of shares

On January 5, 2021, SK Broadband established Media S Co., Ltd. (“Media S”), a subsidiary engaged in the production and supply of broadcasting programs, through a capital contribution of Won 23.0 billion (representing a 100% equity interest), and the subsidiary was added as a member of the SK Group as of March 2, 2021. On June 23, 2022, SK Broadband acquired 5,000,000 additional shares of Media S for Won 25.0 billion through a capital increase by allocation to shareholders.

(2) Merger

On March 30, 2022, the board of directors of SK Broadband approved the merger contract with Broadband Nowon Broadcasting Co., Ltd., as originally proposed. On October 5, 2022, the merger was completed.

(3) Transfer of business

On December 27, 2023, the board of directors and the shareholders of Home&Service, a subsidiary of SK Broadband, resolved to transfer Home&Service’s electric vehicle standard-charge business. The business was transferred to GS ChargEV on April 15, 2024.

(4) Capital reduction of subsidiary

On July 5, 2024, the board of directors and the shareholders of Home&Service approved the capital reduction with consideration. The capital reduction will be achieved by acquiring 2,770,000 common shares of Home&Service held by SK Broadband (at Won 7,237 per share) and immediately canceling such shares. In consideration of the capital reduction, Won 20,046 million will be paid to SK Broadband. Such transaction will not result in a change in SK Broadband’s ownership interest in Home&Service (100%) while the number of shares owned will decrease from 9,200,000 shares to 6,430,000 shares.

7

(5) Acquisition of business

On May 12, 2025, the board of directors of SK Broadband resolved to acquire SK Inc.’s Pangyo Data Center in order to expand the data center business and generate synergy. The acquisition was completed on July 1, 2025.

(6) Sale of equity interest in subsidiary

On December 24, 2025, SK Broadband entered into a share purchase agreement to sell 100% (9,600,000 shares) of its ownership interest in Media S to Rapport Labs Inc.

(7) Cancellation of repurchased shares

On March 25, 2026 and May 27, 2026, the board of directors of SK Broadband resolved to cancel 383,168 and 27,408 treasury shares, respectively. The total number of issued shares changed to 401,634,869 shares following the cancellations.

(8) Comprehensive share exchange

On March 26, 2026, the board of directors of SK Broadband resolved to enter into a comprehensive share exchange agreement with SK Telecom, which was approved as originally proposed at the meeting of the board of directors held on April 27, 2026. The purpose of the share exchange was for SK Telecom to acquire 100% of the equity interest in SK Broadband by exchanging all issued shares, excluding the shares of SK Broadband held by SK Telecom as of the date of the share exchange, for cash consideration of Won 15,032 per share. There was no change in management control in terms of governance structure as a result of the share exchange, and SK Telecom and SK Broadband will continue to be maintained as listed and unlisted corporations, respectively.

[PS&Marketing]

(1) Acquisition of shares of SK M&Service

PS&Marketing acquired 3,099,112 shares of SK M&Service (representing a 100% equity interest) to strengthen its competitiveness in distribution and promote synergies within the ICT businesses of SK Telecom and its affiliates. The transaction was completed on February 9, 2022.

(2) Disposal of equity interest in SK M&Service

On December 18, 2024, the board of directors of PS&Marketing approved the disposal of certain of its equity interest in SK M&Service, a subsidiary of PS&Marketing, as originally proposed. On February 25, 2025, PS&Marketing transferred 2,169,379 shares of SK M&Service (representing a 70% equity interest) to Samgu Inc. for Won 58,515 million. Following the transfer, PS&Marketing holds a 30% equity interest in SK M&Service, and SK M&Service has become excluded from the scope of the Company’s consolidated subsidiaries.

3. Total Number of Shares

A. Total Number of Shares

(As of June 30, 2026)						(Unit: in shares and percentages)
Classification		Share Type												Remarks
		Common Shares				Preferred Shares				Total
I. Total number of authorized shares			670,000,000				—				670,000,000				—
II. Total number of shares issued to date			304,927,159				—				304,927,159				—
III. Total number of shares canceled to date			90,137,106				—				90,137,106				—
a. reduction of capital			—				—				—				—
b. canceled with profit			90,137,106				—				90,137,106				—
c. redemption of redeemable shares			—				—				—				—
d. others			—				—				—				—
IV. Total number of issued shares (II-III)			214,790,053				—				214,790,053				—
V. Number of treasury shares			1,732,142				—				1,732,142				—
VI. Number of outstanding shares (IV-V)			213,057,911				—				213,057,911				—
VII. Percentage of treasury shares held			0.81	%			—				0.81	%			—

* Following the stock split of October 28, 2021 (the “Stock Split”) and the split-off of November 1, 2021, the total number of issued shares changed from 72,060,143 shares (par value of Won 500 per share) to 218,833,144 shares (par value of Won 100 per share). Additionally, the total number of issued shares changed to 214,790,053 shares following the cancellation of 4,043,091 treasury shares on February 5, 2024.

8

B. Treasury Shares

(As of June 30, 2026)												(Unit: in shares)
Acquisition Methods						Share Type		At the Beginning of Period				Changes												At the End of Period
												Acquired (+)				Disposed (-)				Canceled (-)
Acquisition pursuant to the Financial Investment Services and Capital Markets Act of Korea		Direct acquisition		Direct acquisition from market		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Direct over-the-counter acquisition		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Tender offer		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Sub-total (a)		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
		Acquisition through trust and other agreements		Held by trustee		Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
				Held in actual stock		Common shares			1,807,778				—				75,636				—				1,732,142
						Preferred shares			—				—				—				—				—
				Sub-total (b)		Common shares			1,807,778				—				75,636				—				1,732,142
						Preferred shares			—				—				—				—				—
Other acquisition (c)						Common shares			—				—				—				—				—
						Preferred shares			—				—				—				—				—
Total (a+b+c)						Common shares			1,807,778				—				75,636				—				1,732,142
						Preferred shares			—				—				—				—				—

* During the first half of 2026, the Company disposed 75,636 treasury shares for the purpose of compensation of officers and employees.

C. Status of Direct Acquisitions and Disposal of Treasury Shares

(As of June 30, 2026)

(Unit: in Won and percentages)

Classification

Expected Acquisition (Disposal) Period

Expected Value of Shares (A)

Executed Value of Shares (B)

Execution Ratio (B/A)

Reporting Date

Start Date

End Date

Direct Disposal

Jan. 29, 2024

Feb. 29, 2024

24,508,242,000

24,707,496,000

101

Feb. 2, 2024

Direct Disposal

Apr. 26, 2024

May 31, 2025

279,874,700

280,422,400

100

Apr. 30, 2024

Direct Disposal

Apr. 25, 2025

May 31, 2025

279,936,000

261,954,000

94

Apr. 30, 2025

Direct Disposal

May 2, 2025

Mar. 26, 2027

14,240,890,460

5,466,438,328

38

—

Direct Disposal

Feb. 4, 2026

Mar. 25, 2026

3,606,096,376

1,161,969,600

32

Mar. 27, 2026

Direct Disposal

Feb. 12, 2026

Mar. 25, 2027

11,101,630,700

677,286,300

6

—

Direct Disposal

Apr. 28, 2026

May 31, 2026

5,195,200,000

5,471,321,600

105

May 18, 2026

* As the disposal on May 2, 2025 involved the delivery of treasury shares in connection with the exercise of certain outstanding stock options, the submission of the disposal results was omitted in accordance with Article 5-9(4) of the Regulation on Securities Issuance and Disclosure. Such disposal concerns the disclosure of all stock options granted at the 36th General Meeting of Shareholders as shares scheduled for disposal, triggered by the initial exercise of stock options. The confirmed number of shares scheduled for disposal is 92,608 shares.

** The disposal on February 4, 2026 involved the disposal of treasury shares in connection with the exercise of stock options granted at the 37th General Meeting of Shareholders. All stock options exercised during this period were settled through the “compensation in treasury shares for the difference in price” method, whereby treasury shares corresponding to the difference between the closing price on the exercise date and the exercise price were delivered (after deduction of withholding amounts including taxes), resulting in a difference from the number of shares disclosed as scheduled for disposal.

*** As the disposal on February 12, 2026 involved the delivery of treasury shares in connection with the exercise of certain outstanding stock options, the submission of the disposal results was omitted in accordance with Article 5-9(4) of the Regulation on Securities Issuance and Disclosure. Such disposal concerns the disclosure of all stock options granted at the 38th General Meeting of Shareholders as shares scheduled for disposal, triggered by the initial exercise of stock options. The confirmed number of shares scheduled for disposal is 7,528 shares.

9

D. Status of Trust Agreement on Repurchase of Treasury Shares

(As of June 30, 2026)

(Unit: in Won and percentages)

Classification

Agreement Period

Maximum Value of Treasury Shares to be Acquired under Agreement (A)

Actual Value of Treasury Shares Acquired under Agreement (B)

Execution Ratio (B/A)

Reporting Date

Start Date

End Date

Trust Agreement Execution

Aug. 28, 2020

Apr. 30, 2021

W500,000,000,000

W499,646,025,000

99.93%

Apr. 30, 2021

Trust Agreement Execution

Jul. 27, 2023

Jan. 26, 2024

W300,000,000,000

W301,274,969,250

100.42%

Jan. 26, 2024

* The Company completed the repurchase of treasury shares pursuant to the Trust Agreement on July 27, 2023, and reported the results of the termination of the Trust Agreement on January 26, 2024.

E. Status of Cancellation of Treasury Shares

(Unit: in Won and shares)

Cancellation Date

Cancellation Method

Share Type

Number of Shares Canceled

Value of Shares Canceled

May 6, 2021

Share repurchase and cancellation

Common share

8,685,568

1,965,952,260,096

February 5, 2024

Share repurchase and cancellation

Common share

4,043,091

200,000,000,000

* The number of shares canceled on May 6, 2021 is based on the figures prior to the Stock Split.

F. Status of Treasury Shares Held

(As of June 30, 2026)																				(Unit: in shares and percentages)
Classification				Share Type		Number of Shares Held				Ratio to Total Issued Shares				Purpose of Acquisition		Year Acquired		Cancellation Deadline		Approved Details of Holding/Disposal Plan
																				Approval Date		Deadline		Purpose
Acquisition within distributable profits		Direct holding		Common shares			1,732,142				0.81			Enhancement of shareholder value (partial cancellation of shares)		2023		2027		March 26, 2026		Payment date in accordance with the operation of the compensation plan for officers and employees		Compensation for officers and employees
		Trustee holding		—			—				—			—		—		—		—		—		—
Other acquisitions				—			—				—			—		—		—		—		—		—
Total				Common shares			1,732,142				0.81

* The acquisitions of shares occurred between 2023 and 2024 and the cancellation deadline is September 6, 2027.

10

G. Short-Term Plan for Acquisition, Disposal and Cancellation of Treasury Shares

(Relevant Period: January 1, 2026 to December 31, 2026)								(Unit: in shares and percentages)
Classification		Form of Holding		Share Type		Original Purpose of Acquisition		Transaction Method		Quantity		Ratio to Total Issued Shares		Reason for Decision
Acquisition		—		—		—		—		—		—		—
Disposal		Acquisition within distributable profits (Direct holding)		Common shares		Enhancement of shareholder value (partial cancellation of shares)		Other		107,194		0.05		Exercise of stock options and compensation for officers and employees
Cancellation		—		—		—		—		—		—		—
Retention		Acquisition within distributable profits (Direct holding)		Common shares		Enhancement of shareholder value (partial cancellation of shares)		Other		99,272		0.05		Compensation for officers and employees
		Acquisition within distributable profits (Direct holding)		Common shares		Enhancement of shareholder value (partial cancellation of shares)		Cancellation of repurchased shares		1,601,312		0.75		Enhancement of shareholder value

H. Status of Implementation of Short-Term Plan for Acquisition, Disposal and Cancellation of Treasury Shares

During the first half of 2026, the Company disposed 75,636 treasury shares for the purpose of compensation of officers and employees.

I. Long-Term Plan for Acquisition, Disposal and Cancellation of Treasury Shares

Of the treasury shares held by the Company, 99,272 shares will be utilized for the purpose of compensation for directors, officers and employees, and the remaining 1,601,312 shares are scheduled to be canceled through a resolution of the Board of Directors at a later date in order to enhance shareholder value. The timing and quantity of treasury shares to be disposed of for director, officer and employee compensation remain subject to change, depending on factors such as the share price at the time of compensation or exercise, the number of stock options exercised and the terms of the compensation programs for officers and employees, and accordingly, the number of shares to be canceled may also vary.

J. Other Matters Necessary for Investor Protection

The Company plans to obtain approval for its treasury share retention and disposition plan at the General Meeting of Shareholders in March 2027.

4. Matters Concerning Articles of Incorporation

Date of Revision		General Meeting of Shareholders		Key Revisions		Reason for Revisions
March 26, 2024		40th General Meeting of Shareholders		Board meeting notice period, year-end dividend record date		To strengthen the Board’s deliberation function by providing sufficient time for advance review and to enhance shareholders’ ability to estimate future dividends
March 26, 2025		41st General Meeting of Shareholders		Quarterly dividend record date		To enhance shareholders’ ability to estimate future dividends
March 26, 2026		42nd General Meeting of Shareholders		Title of independent directors, basis for the number of Audit Committee members subject to separate election		To reflect amendments to the Korean Commercial Code and revise existing language

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II. BUSINESS

1. Business Overview

Each company in the consolidated entity is a separate legal entity providing independent services and products. The Company’s business is primarily separated into (1) the wireless business consisting of cellular voice, wireless data and wireless Internet services, (2) the fixed-line business consisting of fixed-line telephone, high-speed Internet, data and network lease services, among others and (3) other businesses consisting of commercial retail data broadcasting channel business, among others.

Set forth below is a summary description of the business of each of the Company’s material consolidated subsidiaries.

Classification		Company Name		Description of Business
Wireless		SK Telecom		Wireless voice and data telecommunications services via digital wireless networks
		PS&Marketing		Sale of fixed-line and wireless telecommunications products through wholesale, retail and online distribution channels
		SK O&S		Maintenance of base stations
Fixed-line		SK Broadband		High-speed Internet, TV, telephone, commercial data and other fixed-line services and management of the transmission system for online digital contents Various media-related services, such as channel management services including video-on-demand services
		Home&Service		System maintenance of high-speed Internet, Internet protocol TV (“IPTV”) and fixed-line services
		SK Telink		International wireless direct-dial “00700” services and mobile virtual network operator (“MVNO”) business
Other business		SK Stoa		Operation of commercial retail data broadcasting channel services
		Atlas Investment		Investments
		SK Telecom Innovation Fund, L.P.		Investments
		SAPEON Inc.		Manufacture of non-memory and other electronic integrated circuits
		Astra AI Infra LLC		Investments
		SK Telecom Americas, Inc.		Information collection and consulting services
		Global AI Platform Corporation		Software development and supply

[Wireless Business]

A. Overview

Wireless telecommunications companies provide services based on competitive strengths in handheld devices, affordable pricing, network coverage and an extensive contents library. The Company continues to maintain its reputation as the unparalleled premium network operator in the 5G market on the basis of its technological leadership and network management technology. With the world’s first commercialization of 5G technology in 2019, the Company continues to maintain its position as the top network operator in the 5G era and strives to provide differentiated services to its customers.

In order to strengthen its sales channels, the Company has been offering a variety of fixed-line and wireless telecommunications convergence products through its subsidiary, PS&Marketing. PS&Marketing provides differentiated service to customers through the establishment of new sales channels and product development. Additionally, SK O&S, the Company’s subsidiary responsible for the operation of the Company’s networks, including base stations and related transmission and power facilities, provides customers with quality network services and provides the Company with technological know-how in network operations.

The Company has been maintaining solid profitability based on the stable sales generated from its 5G subscribers, together with efficient investments in, and operation of, its wireless networks and stabilization of market competition. The number of the Company’s 5G subscribers has reached its maturation stage and continues to maintain a gradual upward trend. The Company recorded 17.97 million subscribers as of June 30, 2026, of which 5G subscribers accounted for 82%. The Company seeks to enhance profitability through stable market operations while striving to further expand customer choices and benefits in order to minimize the slowdown in the growths of wireless services revenue and Average Revenue Per User (“ARPU”). The Company seeks to achieve solid growth in profit from its wireless telecommunications business even in the mature 5G market by enhancing its fundamental competitive strengths, including product and channel realignment and the optimization of operations centered on customer lifetime value.

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B. Industry Characteristics

The telecommunications services market can be categorized into telecommunications services (such as fixed-line, wireless and leased line services, as well as sales intermediary services relating thereto and value-added services) and broadcasting and telecommunications convergence services (including IPTV and integrated fixed-line and wireless telecommunications services). Pursuant to the Telecommunications Business Act, the telecommunications services market can be further classified into basic telecommunications (fixed-line and wireless telecommunications), special category telecommunications (resale of telecommunications equipment, facilities and services) and value-added telecommunications (Internet connection and management, media contents and others).

The size of the domestic telecommunications services market is determined based on various factors specific to Korea, including the size of the population that uses telecommunications services and telecommunications expenditures per capita. While it is possible for Korean telecommunications service providers to provide services abroad through acquisitions or otherwise, foreign telecommunications services markets have their own characteristics depending, among others, on the regulatory environment and demand for telecommunications services.

C. Growth Potential

The Korean mobile communications market is considered to have reached its maturation stage with more than a 100% penetration rate. However, the Korean mobile communications market continues to improve in the quality of services with the help of advances in network-related technology and the development of highly advanced smartphones which enable the provision of new information and communications technology (“ICT”) services for advanced multimedia contents, mobile commerce, mobility and other related services. In addition, the ultra-low latency and high capacity characteristics of 5G networks as well as the advancement of artificial intelligence (“AI”) are expected to accelerate the introduction of new services and the growth of Internet-of-Things (“IoT”)-based business-to-business (“B2B”) businesses.

(Unit: in 1,000 persons)
Classification				As of June 30, 2026		As of December 31,
						2025		2024
Number of Subscribers		SK Telecom		30,937		30,853		31,786
		Others (KT, LG U+)		41,888		41,466		38,360
		MVNO		20,577		19,885		17,825
		Total		93,402		92,203		87,971

* Source: Wireless telecommunications service data from the Ministry of Science and ICT (“MSIT”) as of May 31, 2026.

D. Domestic and Overseas Market Conditions

The Korean mobile communications market includes the entire population of Korea with mobile communications service needs, and almost every Korean is considered a potential user. Sales revenue related to data services has been growing due to the increasing popularity of smartphones and high-speed wireless networks. There is also a growing importance of the B2B segment, which creates added value by selling and developing various solutions. The telecommunications industry is a regulated industry requiring license and approval from the MSIT.

In the wireless business, industry players compete on the basis of the following three main competitive elements:

(i) brand competitiveness, which refers to the overall sense of recognition and loyalty experienced by customers with respect to services and values provided by a company, including the images created by a company’s comprehensive activities and communications on top of the actual services rendered;

(ii) product and service competitiveness, which refers to the fundamental criteria for wireless telecommunications services, including voice quality, service coverage, broad ranges of rate plans, diversified mobile Internet services, price and quality of devices, and customer service quality, as well as the ability to develop new services that meet customer needs in a market environment defined by convergence; and

13

(iii) sales competitiveness, which refers to novel and diversified marketing methods and the strength of the distribution network.

Set forth below is the historical market share of the Company (excluding MVNO subscribers).

						(Unit: in percentages)
Classification		As of June 30, 2026				As of December 31,
						2025				2024
Mobile communication services			42.5				42.7				45.3

* Source: Wireless telecommunications service data from the MSIT as of May 31, 2026.

[Fixed-line Business]

A. Overview

For the six months ended June 30, 2026, SK Broadband recorded Won 2.31 trillion in revenue on a consolidated basis, which represented a 3.43% increase from Won 2.23 trillion for the six months ended June 30, 2025. Such increase was primarily attributable to the growth of SK Broadband’s high-speed Internet business resulting from an increase in the number of subscribers and the growth of its B2B business primarily focused on new data centers.

SK Broadband’s business is divided into the media business segment, which provides IPTV and cable TV services, and the fixed-line business segment, which provides high-speed Internet, telecommunications, leased lines and data center services.

For the six months ended June 30, 2026, the media business segment recorded Won 0.94 trillion in revenue, which represented a 1.1% decrease compared to the six months ended June 30, 2025. For the six months ended June 30, 2026, the fixed-line business segment recorded Won 1.37 trillion in revenue, which represented a 6.81% increase compared to the six months ended June 30, 2025.

B. Industry Characteristics

The domestic telecommunications service industry displays the typical characteristics of a domestic industry given that its coverage area is limited to Korea. As a result, the size of the industry is greatly affected by the domestic user population and the level of telecommunications service expenditures in light of the domestic income level. Domestic telecommunications companies may expand overseas through mergers and acquisitions or direct expansion, but the overseas telecommunications service industries are subject to inherently different industry characteristics from the domestic one, depending on the regulatory and demand characteristics of each country.

The broadcasting business involves the planning, programming or production of broadcasting programs and the process of transmitting them to viewers through telecommunications facilities. The broadcasting market can primarily be categorized into terrestrial broadcasting, fixed-line TV broadcasting, satellite broadcasting and programming-providing businesses, in each case pursuant to the Broadcasting Act, as well as Internet multimedia broadcasting business pursuant to the Internet Multimedia Broadcast Services Act.

SK Broadband engages in the fixed-line TV broadcasting business, which is defined as the business of managing and operating fixed-line TV broadcasting stations (including their facilities and employees for the purpose of providing multi-channel broadcasting) and providing broadcasts through transmission and line facilities. The Internet multimedia broadcasting refers to the broadcasting of programs through a combination of various contents including data, video, voice, sound and/or e-commerce, including real-time broadcasting, while guaranteeing a consistent service quality through a bidirectional Internet protocol using a broadband integrated information network.

As a result of the government’s direct and indirect control over the fixed-line telecommunications industry, ranging from service licensing to business activities, the industry’s growth potential and degree of competition are greatly affected by the government’s regulatory policies. The fixed-line telecommunications industry is also a technology-intensive industry that evolves rapidly and continuously through the development of communications technology and equipment, which requires proactive responses in meeting the various needs of subscribers by developing new services and penetrating the market. Fixed-line telecommunications services have become essential commodities and act as the foundation for integration and convergence with various other services. The essential nature of such services provides stable demand, resulting in low sensitivity to economic conditions.

14

In addition, due to the government’s restrictive licensing policies aimed at efficient resource allocation, the Korean fixed-line services industry is marked by a high level of market concentration. In the fixed-line and wireless services markets, an oligopolistic structure has been established, centered around the Company (including SK Broadband), KT and LG U+. However, with the development of faster and more stable telecommunications technologies, integrated convergence products combining fixed-line and wireless communications with broadcasting have become the market standard. Consequently, competition among operators is now centered on providing high-quality services and ensuring customer satisfaction.

The high-speed Internet market continues to grow as mobile data traffic surges due to the expanding use of mobile devices for activities such as AI utilization, video streaming and online gaming. In particular, Wi-Fi services, which provide a stable and fast communication environment without imposing significant additional costs despite increased usage, have become essential communication services. Consequently, demand for Giga Internet, necessary for providing these services, is expanding, and related businesses are growing steadily.

In the pay TV market, competition is shifting from a focus on traditional channels and platforms to a content-centric model due to the expansion of global OTT services. Consequently, the Company is pursuing content differentiation to reflect the rapid changes in viewers’ content consumption preferences and usage patterns, and is seeking new growth opportunities in the home platform sector by providing personalized services utilizing AI technology, smart TVs and set-top boxes.

In the enterprise business market, growth opportunities are expanding, particularly in new areas such as AI data centers. Furthermore, to respond to continually increasing market demand and strengthen business competitiveness, the Company is focusing on securing core infrastructure, such as data centers and dedicated lines, and continues its efforts to establish a stable revenue base.

C. Growth Potential

(Unit: in persons)

Classification				As of June 30, 2026***				As of December 31,
								2025				2024
Fixed-line Subscribers*		High-speed Internet			25,417,529				25,233,811				24,721,782
		Fixed-line telephone (including Voice over Internet Protocol (“VoIP”))**			17,290,006				17,581,886				18,347,951
		IPTV			21,310,250				21,310,250				21,190,908
		Cable TV			12,273,098				12,273,098				12,342,797

* Source: MSIT website.

** With respect to fixed-line telephone, the number of subscribers was calculated based on the number of fixed-line and VoIP subscribers of the Company, KT and LG U+.

*** High-speed Internet and fixed-line telephone subscribers represent the number of subscribers as of April 30, 2026, while IPTV and cable TV subscribers represent the average number of subscribers in the second half of 2024.

D. Cyclical Nature and Seasonality

There is little difference among the services provided by operators of high-speed Internet, fixed-line telephone and broadcasting services. Such services, which demonstrate characteristics of essential public utilities, are subject to a subscriber-based business model, and are not sensitive to cyclical economic changes. Due to the low income elasticity of telecommunications services, the overall telecommunications market is not expected to be particularly affected by an economic downturn.

E. Domestic and Overseas Market Conditions

Set forth below is the historical market share of SK Broadband.

(Unit: in percentages)

Classification		As of June 30, 2026***				As of December 31,
						2025				2024
High-speed Internet (including resales)*			28.8				28.7				28.9
Fixed-line telephone (including VoIP)*			18.7	**			18.6				18.3
IPTV*			31.8				31.8				31.9
Cable TV*			22.9				22.9				22.8

15

* Source: MSIT website.

** With respect to fixed-line telephone, the market share was calculated based on market shares among SK Broadband, KT and LG U+ and is based on the number of fixed-line and VoIP subscribers.

*** Market shares for the high-speed Internet and fixed-line telephone markets are based on the market shares as of April 30, 2026, and market shares for the IPTV and cable TV markets are based on the average number of subscribers in the second half of 2024.

SK Broadband is engaged in a number of business areas including high-speed Internet, home telephone, corporate business, IPTV and cable TV pursuant to the relevant communications regulations such as the Telecommunications Business Act, the Internet Multimedia Broadcast Services Act and the Broadcasting Act. In each of its principal business areas, SK Broadband competes on the basis of price, service quality and speed. In the IPTV business, the ability to offer complex services and differentiated contents are becoming increasingly important. The basic telecommunications business is characterized by high barriers to entry, as it requires authorization from the Minister of the MSIT under the Telecommunications Business Act, and an oligopolistic structure has been established, comprising SK Broadband, KT and LG U+.

[Other Businesses]

A. Other Businesses

SK Stoa operates the commercial retail data broadcasting channel business, offering an interactive service that integrates television home shopping and data home shopping services. The integrated television commerce service operated by SK Stoa allows television viewers to organize various product categories on the television screen and select and purchase desired products using a television remote control or mobile device, unlike traditional home shopping services that only allowed for real-time purchase through the relevant broadcast.

2. Key Financial Data by Business Line

A. Assets

						(Unit: in millions of Won and percentages)
Classification		As of June 30, 2026								As of December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			27,140,476				74	%			25,731,253				75	%			25,154,898				75	%
Fixed-line			7,693,677				21	%			7,158,666				21	%			7,174,920				21	%
Other			1,732,400				5	%			1,392,466				4	%			1,276,546				4	%
Subtotal			36,566,553				100	%			34,282,385				100	%			33,606,364				100	%
Consolidation Adjustment			(4,136,402	)			—				(4,174,602	)			—				(3,091,111	)			—
Total			32,430,151				—				30,107,783				—				30,515,254				—

B. Revenue

						(Unit: in millions of Won and percentages)
Classification		For the six months ended June 30, 2026								For the year ended December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			6,497,465				74	%			12,552,543				73	%			13,318,213				74	%
Fixed-line			2,106,992				24	%			4,191,113				25	%			4,075,412				23	%
Other			146,912				2	%			355,557				2	%			546,984				3	%
Total			8,751,369				100	%			17,099,213				100	%			17,940,609				100	%

C. Operating Profit

						(Unit: in millions of Won and percentages)
Classification		For the six months ended June 30, 2026								For the year ended December 31,
										2025								2024
		Amount				Ratio				Amount				Ratio				Amount				Ratio
Wireless			847,784				77	%			817,941				75	%			1,529,971				84	%
Fixed-line			253,686				23	%			308,372				28	%			366,517				20	%
Other			5,188				—				(30,511	)			(3	)%			(64,929	)			(4	)%
Subtotal			1,106,658				100	%			1,095,762				100	%			1,831,559				100	%
Consolidation Adjustment			(3,024	)			—				(22,547	)			—				(8,150	)			—
Total			1,103,634				—				1,073,215				—				1,823,409				—

16

3. Updates on Major Products and Services

								(Unit: in millions of Won and percentages)
Business		Major Companies		Items		Major Trademarks		For the six months ended June 30, 2026								For the year ended December 31,
																2025								2024
								Consolidated Sales Amount				Ratio				Consolidated Sales Amount				Ratio				Consolidated Sales Amount				Ratio
Wireless		SK Telecom, PS&Marketing, SK O&S, etc.		Mobile communications service, wireless data service, ICT service and others		T, 5GX, T Plan and others			6,497,465				74	%			12,552,543				73	%			13,318,213				74	%
Fixed-line		SK Broadband, SK Telink, Home&Service, etc.		Fixed-line phone, high-speed Internet, data and network lease service and others		B tv, 00700 international call, 7mobile and others			2,106,992				24	%			4,191,113				25	%			4,075,412				23	%
Other		SK Stoa, etc.		Commercial retail data broadcasting channel service and others		Stoa ON			146,912				2	%			355,557				2	%			546,984				3	%
Total									8,751,369				100	%			17,099,213				100	%			17,940,609				100	%

4. Price Trends for Major Products

[Wireless Business]

As of June 30, 2026, based on the Company’s standard monthly subscription plan, the basic service fee was Won 12,100 (including value-added tax) and the usage fee was Won 1.98 per second.

The Company, which commercially launched 5G technology for the first time in the world in 2019, has entered a mature phase with its 5G subscriber ratio exceeding 80%. Accordingly, in July 2026, the Company launched integrated 5G and LTE subscription plans to expand customer choices and improve user experience, and concurrently commenced the complimentary application of the “Ansim Data” service, which provides a maximum quality of service of 400 Kbps even after exhaustion of the basic allotted data, to all of its LTE subscription plans.

The new integrated subscription plans consist of the “Best” plan, which provides unlimited data at Won 89,000 to Won 129,000 per month (including value-added tax), and the “Lite” plan, which provides 6GB to 250GB of data at Won 39,000 to 79,000 per month. In addition, certain LTE subscription plans now offer 5G access, thereby expanding the scope of customer benefits.

The Company provides a variety of other subscription plans catering to subscriber demand, which may be reviewed on the Company’s website at www.tworld.co.kr.

[Fixed-line Business]

The monthly subscription fees for the services offered by SK Broadband are as follows:

- IPTV (media business segment): from Won 11,000 (B tv Mini) to Won 50,600 (B tv All + Catch On + major networks) under no fixed-term contract

17

- Cable TV (based on Suwon broadcasting) direct cable TV: from Won 4,400 or less (B tv Cable 20) to Won 16,500 or less (B tv Cable 90) under no fixed-term contract, and from Won 3,520 or less (B tv Cable 20) to Won 13,200 (B tv Cable 90) under a three-year contract

- Digital cable TV: from Won 13,200 or less (B tv Cable 100) to Won 26,400 (B tv Cable 200) under no fixed-term contract, and from Won 10,560 (B tv Cable 100) to Won 21,120 (B tv Cable 200) under a three-year contract

- Technology-neutral service: from Won 13,200 (B tv Pop 100) to Won 33,990 (B tv Pop 230+) under no fixed-term contract, and from Won 7,700 (B tv Pop 100) to Won 20,900 (B tv Pop 230+) under a three-year contract

- High-speed Internet service (fixed-line business segment): from Won 30,800 (Speed Internet) to Won 104,500 (Giga Premium×10) under no fixed-term contract, and from Won 22,000 (Speed Internet) to Won 82,500 (Giga Premium×10) under a three-year contract

- Bundled products that combine high-speed Internet and IPTV services: from Won 33,000 (Speed Internet + B tv Economy) to Won 111,100 (Giga Premium×10 + B tv All + Catch On + major networks) under a three-year contract

The above fees may vary depending on the conditions for subscription, including services provided, contract period and bundled products.

SK Broadband is preparing a variety of new rate plans for 2026. In January 2026, SK Broadband launched the “Giga Wi-Fi 7” plan, which utilizes the next-generation wireless standard, and offers a stable wireless Internet environment with transmission speeds up to twice as fast as the existing “Giga Wi-Fi 6” plan and minimizes latency and disconnections through multi-link operation (“MLO”) technology. In addition, a minimalist design was applied to better harmonize with interior spaces, and the plan is offered at a competitive discounted rate of Won 27,500 per month for 1 Gbps Internet when bundled with a wireless plan.

In February 2026, SK Broadband launched the “AI 5 Set-Top Box,” which features on-device AI powered by a neural processing unit (“NPU”). The AI 5 Set-Top Box offers functions that optimize image quality and color tones for each scene and improve voice clarity, while incorporating a minimalist design and an ultra-low-power design with standby power of less than 1W. It is available for Won 7,700 per month based on a three-year contract. Subscribers can also choose the “AI 5 Set-Top Box Care” package, which offers a reduced monthly fee of Won 5,500, as well as waivers on service call fees and compensation charges for damages, thereby enhancing customer convenience and satisfaction.

SK Broadband also provides a variety of other subscription plans based on consumer demand, which may be reviewed on SK Broadband’s website at www.bworld.co.kr.

5. Investment Status

[Wireless Business]

A. Investment in Progress and Future Investment Plan

(Unit: in billions of Won)

Purpose of Investment

Subject of Investment

Investment Period

Expected Investment Amount

Amount Already Invested

Investment Effect

Upgrade/New installation

Network, systems and others

Six months ended June 30, 2026

To be determined

254

Upgrades to the existing services and expanded provision of network services including 5G

18

[Fixed-line Business]

A. Investment in Progress and Future Investment Plan

(Unit: in billions of Won)

Purpose of Investment

Subject of Investment

Investment Period

Amount already Invested*

Future Investment

Investment Effect

Coverage expansion, upgrade of media platform

Network, systems, Internet data center and others

Six months ended June 30, 2026

370

To be determined

Securing subscriber network and equipment; quality and system improvement

* Represents investments by SK Broadband on a separate basis.

6. Revenues

(Unit: in millions of Won)

Business		Sales Type		Item				For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Wireless		Services		Mobile communication, wireless data, information communication		Export			93,846				196,249				212,235
						Domestic			6,403,619				12,356,294				13,105,978
						Subtotal			6,497,465				12,552,543				13,318,213
Fixed-line		Services		Fixed-line, high-speed Internet, data, lease line service		Export			97,850				205,494				213,815
						Domestic			2,009,142				3,985,619				3,861,597
						Subtotal			2,106,992				4,191,113				4,075,412
Other		Services		Commercial retail data broadcasting channel services		Export			—				—				—
						Domestic			146,912				355,557				546,984
						Subtotal			146,912				355,557				546,984
Total						Export			191,696				401,744				426,050
						Domestic			8,559,673				16,697,469				17,514,559
						Total			8,751,369				17,099,213				17,940,609

(Unit: in millions of Won)

For the six months ended June 30, 2026		Wireless				Fixed-line				Other				Subtotal				Consolidation Adjustment				After Consolidation
Total sales			7,219,471				2,722,416				153,127				10,095,014				(1,343,645	)			8,751,369
Internal sales			722,006				615,424				6,215				1,343,645				(1,343,645	)			—
External sales			6,497,465				2,106,992				146,912				8,751,369				—				8,751,369
Operating profit (loss)			847,784				253,686				5,188				1,106,658				(3,024	)			1,103,634
Finance profit (loss)																							(119,075	)
Loss from investments in associates and joint ventures																							(31,815	)
Other non-operating profit (loss)																							21,184
Profit before income tax																							1,037,558

7. Derivative Transactions

A. Current Swap Contract Applying Cash Flow Risk Hedge Accounting

Currency and interest rate swap contracts under cash flow hedge accounting as of June 30, 2026 are as follows:

[SK Telecom]

Borrowing Date		Hedged Item		Hedged Risk		Contract Type		Financial Institution		Duration of Contract
July 20, 2007		Fixed rate foreign currency denominated bonds (face value of US$400,000,000)		Foreign currency risk		Cross currency swap		Morgan Stanley and four other banks		July 20, 2007 – July 20, 2027
June 28, 2023		Fixed rate foreign currency denominated bonds (face value of US$300,000,000)		Foreign currency risk		Cross currency swap		Citibank, Shinhan Bank, KDB, J.P. Morgan		June 28, 2023 – June 28, 2028
October 7, 2024		Floating rate Won denominated borrowings (face value of Won 200 billion)		Interest rate risk		Interest rate swap		DBS Bank Ltd.		October 10, 2024 – October 8, 2026
May 28, 2025		Floating rate foreign currency denominated bonds (face value of US$300,000,000)		Foreign currency risk and interest rate risk		Cross currency interest rate swap		DBS Bank Ltd.		May 28, 2025 – May 26, 2028

19

8. Major Contracts

None.

9. R&D Investments

Set forth below are the Company’s R&D expenditures.

(Unit: in millions of Won except percentages)

Category				For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024				Remarks
Raw material					6				27				492				—
Labor					60,682				116,856				134,508				—
Depreciation					68,073				123,083				134,989				—
Commissioned service					16,963				49,033				61,588				—
Others					41,063				66,773				61,267				—
Total R&D costs					186,787				355,772				392,844				—
Government Subsidies					—				—				—				—
Accounting		Sales and administrative expenses			182,502				338,841				378,079				—
		Development costs (Intangible assets)			4,285				16,931				14,765				—
R&D cost / sales amount ratio (Total R&D costs / Current sales amount×100)					2.13	%			2.08	%			2.19	%			—

10. Other Information Relating to Investment Decisions

A. Brand Management Policies

The Company manages its corporate brand and other product brands in a comprehensive way to protect and increase their value. The Company operates an intranet system called “Comm.ON” in order to implement consistent communication with consumers across various areas including branding, design, marketing and public relations, and systematically manages the development, registration and licensing of brands through such system.

B. Business-related Intellectual Property

[SK Telecom]

As of June 30, 2026, the registered patents and trademarks held by the Company included 2,869 Korean-registered patents, 1,862 foreign-registered patents and 735 Korean-registered trademarks. The number of registered patents and trademarks is subject to constant change due to the acquisition of new rights, expiration of terms, abandonments and dispositions.

[SK Broadband]

As of June 30, 2026, SK Broadband held 193 Korean-registered patents and 38 foreign-registered patents (including those held jointly with other companies). It also holds 245 Korean-registered trademarks. The number of registered patents and trademarks is subject to continual change due to the acquisition of new rights, expiration of terms, abandonments and dispositions.

20

C. Business-related Pollutants and Environmental Protection

[SK Telecom]

The Company does not directly engage in any manufacturing and therefore does not undertake any industrial processes that emit pollutants into the air or industrial processes in which hazardous materials are used. Nevertheless, the Company clearly recognizes the severity of the climate crisis and has been diligently fulfilling its social obligations by establishing a systematic and practical environmental management strategy system. Under the vision of “realizing a sustainable future based on AI” and to achieve Net Zero by 2050, the Company is making efforts to (1) respond to climate change, (2) improve its environmental management system and (3) create a green culture. To this end, the Company was one of the first information technology companies in Korea to join the RE100 (Renewable Electricity 100%) initiative and signed a green premium contract with Korea Electric Power Corporation. The Company has been implementing company-wide adoption of renewable energy through efforts such as installing solar power generation equipment in its office buildings and base stations. In addition, the Company leads in energy savings and environmental protections based on AI technology, and recently became the first company in the telecommunications industry to obtain carbon emission rights by reducing greenhouse gas through integration of telecommunications equipment and technology upgrades.

[SK Broadband]

SK Broadband does not directly engage in any manufacturing processes that emit environmental pollutants, and more than 99% of its greenhouse gas emissions is indirect emissions from its use of external electricity. SK Broadband was selected as a business subject to allocation of emission permits as part of Korea’s greenhouse gas emissions trading scheme that commenced in 2015, and it actively fulfills its obligations and consistently achieves the targets set by the government.

In 2021, SK Broadband declared its goal to achieve Net Zero by 2045 in an effort to actively participate in the international community’s response to climate change. Prior to the declaration, SK Broadband had already subscribed to the RE100 initiative in 2020. Since 2021, SK Broadband has participated in Korea Electrical Power Corporation’s renewable energy power purchase program, “Green Premium,” to purchase renewable energy and has installed additional solar power generation facilities to increase the self-production and use of renewable energy.

21

III. FINANCIAL INFORMATION

1. Summary Financial Information (Consolidated and Separate)

A. Summary Financial Information (Consolidated)

Below is the summary consolidated financial information of the Company as of June 30, 2026, December 31, 2025 and December 31, 2024 and for the six months ended June 30, 2026 and for the years ended December 31, 2025 and 2024. The Company’s interim consolidated financial statements as of June 30, 2026 and December 31, 2025 and for the six months ended June 30, 2026 and 2025, which are prepared in accordance with K-IFRS, are attached hereto.

(Unit: in millions of Won)
		As of June 30, 2026				As of December 31, 2025				As of December 31, 2024
Assets
Current Assets			7,292,630				6,727,130				7,476,682
• Cash and Cash Equivalents			1,203,896				1,490,024				2,023,721
• Short-Term Financial Instruments			799,534				151,426				323,890
• Short-Term Investment Securities			33,102				35,217				—
• Accounts Receivable – Trade, net			2,025,065				1,918,502				1,989,306
• Short-Term Loans, net			80,335				69,664				65,205
• Accounts Receivable – Other, net			321,287				346,326				369,192
• Contract Assets			154,188				124,831				90,385
• Accrued Income			2,942				1,998				4,242
• Advance Payments			21,512				26,064				38,656
• Prepaid Expenses			2,237,177				2,135,763				1,945,610
• Prepaid Income Taxes			929				6,217				21
• Derivative Financial Assets			7,043				6,945				119,500
• Inventories, net			149,132				167,640				209,783
• Assets Held for Sale			156,636				143,489				174,839
• Others			99,852				103,024				122,332
Non-Current Assets			25,137,521				23,380,653				23,038,573
• Long – Term Financial Instruments			3,458				370				373
• Long-Term Investment Securities			5,847,279				3,188,572				1,877,922
• Investments in Associates and Joint Ventures			2,356,277				2,238,470				2,341,827
• Investment Property, net			25,875				39,841				26,611
• Property and Equipment, net			11,221,896				11,902,173				12,617,394
• Goodwill			2,072,493				2,072,493				2,072,493
• Intangible Assets, net			1,370,218				1,710,620				2,194,871
• Long-Term Contract Assets			65,133				63,778				46,352
• Long-Term Loans, net			32,330				32,184				34,446
• Long-Term Accounts Receivable – Other, net			171,355				164,762				173,252
• Long-Term Prepaid Expenses			1,271,428				1,280,751				1,108,406
• Guarantee Deposits, net			156,310				167,823				155,875
• Long-Term Derivative Financial Assets			413,363				303,201				221,608
• Defined Benefit Assets			119,152				205,477				154,329
• Others			10,954				10,138				12,814
Total Assets			32,430,151				30,107,783				30,515,255

22

(Unit: in millions of Won)
		As of June 30, 2026				As of December 31, 2025				As of December 31, 2024
Liabilities
Current Liabilities			5,847,626				6,529,775				9,224,278
• Accounts Payable – Trade, net			117,593				110,867				126,508
• Other Payables			1,087,940				1,576,870				2,798,978
• Deposits Withheld			1,077,112				1,011,918				928,679
• Contract Liabilities			161,423				207,682				168,194
• Accrued Expenses			1,274,115				1,345,998				1,522,750
• Current Income Tax Liabilities			245,869				28,482				243,564
• Derivative Financial Liabilities – Current			6,281				5,782				—
• Current Provisions			154,590				145,953				50,016
• Short-Term Borrowings			130,000				130,000				100,000
• Current Portion of Bonds and Long-Term Borrowings			1,060,277				1,122,584				2,460,109
• Current Portion of Long-Term Payables – Other			90,500				368,572				367,765
• Lease Liabilities			387,909				407,959				351,363
• Liabilities Held for Sale			54,017				67,108				106,352
Non-Current Liabilities			11,087,526				10,622,716				9,463,343
• Bonds, excluding current portion			7,282,641				7,294,445				6,363,646
• Long-Term Borrowings, excluding current portion			300,000				300,000				203,125
• Long-Term Payables – Other, excluding current portion			90,103				179,389				539,955
• Long-Term Accrued Expenses			495				279				271
• Long-Term Lease Liabilities			988,324				1,117,839				1,286,588
• Long-Term Contract Liabilities			275,759				194,261				61,512
• Defined Benefit Liabilities			—				—				2,086
• Derivative Financial Liabilities – Non-Current			—				621				3,437
• Non-Current Provisions			74,823				80,094				70,044
• Deferred Income Tax Liabilities			1,976,720				1,363,191				851,200
• Others			98,661				92,597				81,479
Total Liabilities			16,935,152				17,152,491				18,687,621
Shareholders’ Equity
Equity Attributable to Owners of the Parent Company			15,436,629				12,863,103				11,698,627
Share Capital			30,493				30,493				30,493
Capital Surplus and Others			(13,859,497	)			(12,131,340	)			(11,954,936	)
Retained Earnings			25,220,392				22,938,268				22,976,127
Reserves			4,045,241				2,025,682				646,943
Non-Controlling Interests			58,370				92,189				129,007
Total Shareholders’ Equity			15,494,999				12,955,292				11,827,634
Total Liabilities and Shareholders’ Equity			32,430,151				30,107,783				30,515,255

23

(Unit: in millions of Won except per share data and number of consolidated subsidiaries)
		For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Operating Revenue			8,751,369				17,099,213				17,940,609
Operating Profit			1,103,634				1,073,215				1,823,409
Profit Before Income Tax			1,037,558				722,261				1,761,765
Profit for the Period			782,395				375,084				1,387,095
Profit for the Period Attributable to Owners of the Parent Company			793,012				408,410				1,250,155
Profit for the Period Attributable to Non-Controlling Interests			(10,617	)			(33,326	)			136,940
Basic Earnings Per Share (Won)			3,676				1,825				5,780
Diluted Earnings Per Share (Won)			3,676				1,825				5,765
Total Number of Consolidated Subsidiaries			18				19				21

B. Summary Financial Information (Separate)

Below is the summary separate financial information of the Company as of June 30, 2026, December 31, 2025 and December 31, 2024 and for the six months ended June 30, 2026 and for the years ended December 31, 2025 and 2024. The Company’s interim separate financial statements as of June 30, 2026 and December 31, 2025 and for the six months ended June 30, 2026 and 2025, which are prepared in accordance with K-IFRS, are attached hereto.

(Unit: in millions of Won)

		As of June 30, 2026				As of December 31, 2025				As of December 31, 2024
Assets
Current Assets			4,988,608				4,932,557				5,242,405
• Cash and Cash Equivalents			575,767				771,861				1,165,158
• Accounts Receivable – Trade, net			1,545,489				1,469,426				1,508,893
• Accounts Receivable – Other, net			447,728				393,136				390,243
• Others			2,419,624				2,298,134				2,178,111
Non-Current Assets			21,542,038				20,216,179				19,343,221
• Long-Term Investment Securities			4,678,787				2,396,996				1,418,465
• Investments in Subsidiaries and Associates			5,933,569				5,892,726				4,899,558
• Property and Equipment, net			6,988,071				7,680,504				8,515,225
• Goodwill			1,306,236				1,306,236				1,306,236
• Intangible Assets, net			934,737				1,230,202				1,683,018
• Others			1,700,638				1,709,515				1,520,719
Total Assets			26,530,646				25,148,736				24,585,626
Liabilities
Current Liabilities			4,354,755				5,070,242				6,240,886
Non-Current Liabilities			8,170,654				8,087,444				7,383,886
Total Liabilities			12,525,409				13,157,686				13,624,772
Equity
Share Capital			30,493				30,493				30,493
Capital Surplus (Deficit) and Other Capital Adjustments			(6,251,547	)			(4,547,673	)			(4,551,820	)
Retained Earnings			17,336,199				15,199,915				15,273,451
Reserves			2,890,092				1,308,315				208,730
Total Equity			14,005,237				11,991,050				10,960,854
Total Liabilities and Equity			26,530,646				25,148,736				24,585,626

24

(Unit: in millions of Won except per share data)

		For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Operating Revenue			6,222,832				12,051,068				12,774,060
Operating Profit			837,268				811,842				1,523,175
Profit Before Income Tax			835,888				736,498				1,477,084
Profit for the Period			643,316				410,795				1,280,484
Basic Earnings Per Share (Won)			2,974				1,836				5,923
Diluted Earnings Per Share (Won)			2,972				1,836				5,907

2. Dividends and Others

A. Dividend Policy

(1) Financial Metrics and Calculation Methods Used to Determine Dividend Targets

In April 2024, the Company disclosed its shareholder return policy for fiscal years 2024 through 2026, under which the total amount of shareholder return for each year is expected to be at least 50% of the adjusted profit for the year on a consolidated basis. Shareholder returns are expected to be provided in the form of cash dividend distribution and/or through acquisition and cancellation of the Company’s treasury shares. The Board of Directors will make its determinations on dividends in accordance with such policy.

Adjusted consolidated profit is based on profit attributable to controlling interests, excluding one-time non-recurring gains and losses.

(2) Outlook for Future Dividend Levels and Future Dividend Policy Direction

The Company seeks to enhance its enterprise value through stable business performance and by increasing long-term shareholder returns based on sustainable growth. The Company has established and is implementing a capital allocation strategy that balances the use of additional free cash flow generated from enhancements in its fundamental competitive strengths, including improvements in performance and productivity, across shareholder returns, investments for growth and enhancement in financial structure.

The Company determines the amount of its shareholder return in consideration of a comprehensive set of factors including its business performance, investment plans, financial status and prospects, and the Company may make shareholder return in the form of cash or shares in accordance with its Articles of Incorporation. Cash dividends are determined based on the Company’s consideration of investment needs for its continued future growth as well as its annual business performance and overall cash flow status. In the case of share dividends, the type of the shares to be distributed may be determined pursuant to the resolution of the Company’s general meeting of shareholders.

In accordance with the global trend towards stable dividend distribution, the Company adopted a quarterly dividend distribution policy through the approval of certain amendments to the Company’s Articles of Incorporation at the

37^th General Meeting of Shareholders held in March 2021 and has been distributing quarterly dividends since the second quarter of 2021.

The Company has engaged in repurchases and cancelations of its own shares from time to time to enhance its enterprise value in consideration of the market price of the Company’s shares and its financial resources. From 2020 to 2021, the Company purchased approximately Won 500 billion of treasury shares, and in May 2021, the Company canceled 8,685,568 units of previously acquired treasury shares (10.76% of the total number of shares issued at the time) to enhance shareholder value. In addition, in 2023, the Company purchased approximately Won 300 billion of treasury shares, and in February 2024, the Company canceled 4,043,091 units of treasury share (1.85% of the total number of shares issued at the time).

25

(3) Policy on Restriction of Dividends

Not Applicable.

B. Matters Related to Provision of Dividend Predictability

(1) Dividend Improvement Procedures in the Articles of Incorporation

Classification		Annual Dividends		Quarterly or Interim Dividends
Authority for deciding dividend amounts		General Meeting of Shareholders		Board of Directors
Whether it is possible to set the dividend record date after the dividend amount is determined		Yes		Yes
Plans for implementing dividend improvement procedures		—		—

* Following the amendments to the Company’s Articles of Incorporation at the 40th General Meeting of Shareholders on March 26, 2024, the Company’s dividend policy was improved by allowing the annual dividend record date to be set after determination of the dividend amount.

** Following the amendments to the Company’s Articles of Incorporation at the 41st General Meeting of Shareholders on March 26, 2025, the Company’s dividend policy was further improved by allowing the quarterly dividend record date to be set after determination of the dividend amount.

(2) Status of Dividend Amount Determination Date and Dividend Record Date

Classification

Fiscal Month

Dividend Status

Dividend Amount Determination Date

Dividend Record Date

Provision of Dividend Predictability

Remarks

Quarterly dividend

June 2026

Declared

July 23, 2026

August 31, 2026

Provided

—

Quarterly dividend

March 2026

Declared

April 27, 2026

May 31, 2026

Provided

—

Annual dividend

December 2025

Not Declared

—

—

Provided

—

Quarterly dividend

September 2025

Not Declared

—

—

Provided

—

Quarterly dividend

June 2025

Declared

July 24, 2025

August 31, 2025

Provided

—

Quarterly dividend

March 2025

Declared

April 24, 2025

May 31, 2025

Provided

—

Annual dividend

December 2024

Declared

March 26, 2025

February 28, 2025

Provided

—

Quarterly dividend

September 2024

Declared

October 24, 2024

September 30, 2024

Not Provided

—

Quarterly dividend

June 2024

Declared

July 25, 2024

June 30, 2024

Not Provided

—

Quarterly dividend

March 2024

Declared

April 25, 2024

March 31, 2024

Not Provided

—

* After reporting to the Board of Directors, the Company disclosed through a voluntary disclosure of management matters that it will not pay cash dividends in light of changes to the business environment. The disclosure for the third quarter of 2025 was made on October 30, 2025 and the disclosure for the year ended December 31, 2025 was made on February 5, 2026.

26

C. Dividends for the Past Three Fiscal Years

(Unit: in millions of Won, except per share data and percentages)

Classification				As of and for the six months ended June 30, 2026				As of and for the year ended December 31, 2025				As of and for the year ended December 31, 2024
Par value per share (Won)					100				100				100
(Consolidated) Net income					793,012				408,410				1,250,155
(Separate) Net income					643,317				410,795				1,280,484
Net income per share (Won)					3,675				1,825				5,780
Total cash dividend					353,629				353,551				753,613
Total stock dividends					—				—				—
(Consolidated) Percentage of cash dividend to available income (%)					44.6				86.6				60.3
Cash dividend yield ratio (%)		Common shares			6.1				3.1				6.1
		Preferred shares			—				—				—
Stock dividend yield ratio (%)		Common shares			—				—				—
		Preferred shares			—				—				—
Cash dividend per share (Won)		Common shares			1,660				1,660				3,540
		Preferred shares			—				—				—
Stock dividend per share (share)		Common shares			—				—				—
		Preferred shares			—				—				—

* The total amount of cash dividends was calculated by adding the total amount of cash dividends resolved at the general meeting of shareholders for the relevant fiscal year and any quarterly cash dividends paid during such fiscal year in accordance with applicable disclosure requirements.

** Consolidated net income is based on equity attributable to owners of the parent company.

*** Cash dividend for the year ended December 31, 2024 includes quarterly dividends of Won 830 per share declared for the first, second and third quarters of 2024, and cash dividend of Won 1,050 per share declared for the fourth quarter of 2024.

**** Cash dividend for the year ended December 31, 2025 includes a quarterly dividend of Won 830 per share declared for the first and second quarters of 2025.

***** The Company disclosed through a voluntary disclosure of management matters that it will not pay cash dividends in the third quarter of 2025.

****** The cash dividend yield ratio for the year ended December 31, 2024 was calculated based on the annual dividend record date of February 28, 2025.

******* The cash dividend yield ratio for the year ended December 31, 2025 was calculated based on the date of December 31, 2025 as no annual dividend was declared.

******** The cash dividend yield ratio for the six months ended June 30, 2026 was calculated based on the date of July 23, 2026 as the decision regarding declaration of such dividends was made prior to the dividend record date of August 31, 2026. In addition, the calculation includes a quarterly dividend of Won 830 per share declared for the first quarter of 2026.

********* The cash dividend for the six months ended June 30, 2026 includes the quarterly dividend of Won 830 per share declared for the first and second quarters of 2026. The quarterly dividend for the second quarter of 2026, which is expected to be paid by September 17, 2026, was approved by the Board of Directors on July 23, 2026 with a dividend record date of August 31, 2026. In the event of any amendments, details and reasons for the changes will be disclosed through a corrective report.

D. Past Distributions of Dividends

Number of Consecutive Dividends				Average Dividend Yield (%)
Quarterly (or Interim) Dividends		Annual Dividends		Past Three Years		Past Five Years
2		—		5.4		5.8

* The average dividend yield was calculated based on fiscal year 2025, the most recent fiscal year.

(1) Distribution of quarterly dividends of Won 830 per share was approved during the 491st Board of Directors’ Meeting on April 25, 2024.

(2) Distribution of quarterly dividends of Won 830 per share was approved during the 495th Board of Directors’ Meeting on July 25, 2024.

(3) Distribution of quarterly dividends of Won 830 per share was approved during the 498th Board of Directors’ Meeting on October 24, 2024.

(4) Distribution of cash dividends of Won 1,050 per share was approved during the 41st General Meeting of Shareholders on March 26, 2025.

(5) Distribution of quarterly dividends of Won 830 per share was approved during the 512th Board of Directors’ Meeting on April 23, 2025.

27

(6) Distribution of quarterly dividends of Won 830 per share was approved during the 515th Board of Directors’ Meeting on July 24, 2025.

(7) Non-distribution of dividends for the third quarter of 2025 was decided at the 517th Board of Directors’ Meeting on October 29, 2025.

(8) Non-distribution of annual dividends for the year ended 2025 was decided at the 520th Board of Directors’ Meeting on February 5, 2026.

(9) Distribution of quarterly dividends of Won 830 per share was approved during the 524th Board of Directors’ Meeting on April 27, 2026.

(10) Distribution of quarterly dividends of Won 830 per share was approved during the 526th Board of Directors’ Meeting on July 23, 2026.

3. Use of Direct Financing

A. Use of Proceeds from Public Offerings

[SK Telecom]

Not Applicable.

[SK Broadband]

(As of June 30, 2026)

(Unit: in millions of Won)

Category

Bond Series

Payment Date

Planned Use of Proceeds

Actual Use of Proceeds

Reasons for Difference

Use

Amount

Use

Amount

Corporate bond

Series 59-1

February 12, 2026

Facility fund

210,000

Facility fund

87,500

Related investment not yet due

Corporate bond

Series 59-2

February 12, 2026

Facility fund

30,000

—

—

Related investment not yet due

Corporate bond

Series 60-1

June 12, 2026

Facility fund

130,000

—

—

Related investment not yet due

Corporate bond

Series 60-2

June 12, 2026

Facility fund

30,000

—

—

Related investment not yet due

4. Other Matters Related to Financial Information

A. Restatement of the Financial Statements

Not applicable.

B. Loss Allowance

(1) Loss Allowance of Trade and Other Receivables

		(Unit: in millions of Won, except percentages)
		For the six months ended June 30, 2026
		Gross Amount				Loss Allowance				Percentage
Accounts receivable – trade			2,304,540				270,452				11.7	%
Loans			132,625				19,960				15.0	%
Accounts receivable – other			510,103				17,461				3.4	%
Accrued income			2,942				—				—
Guarantee deposits			255,858				—				—
Total			3,206,068				307,873				9.6	%

		(Unit: in millions of Won, except percentages)
		For the year ended December 31, 2025
		Gross Amount				Loss Allowance				Percentage
Accounts receivable – trade			2,194,385				267,482				12.2	%
Loans			121,702				19,854				16.3	%
Accounts receivable – other			531,547				20,459				3.8	%
Accrued income			1,998				—				—
Guarantee deposits			270,219				—				—
Total			3,119,851				307,795				9.9	%

28

		(Unit: in millions of Won, except percentages)
		For the year ended December 31, 2024
		Gross Amount				Loss Allowance				Percentage
Accounts receivable – trade			2,258,412				258,030				11.4	%
Loans			141,609				41,958				29.6	%
Accounts receivable – other			568,072				25,628				4.5	%
Accrued income			4,242				—				—
Guarantee deposits			275,450				—				—
Total			3,247,785				325,616				10.0	%

(2) Movements in Loss Allowance of Trade and Other Receivables

		(Unit: in millions of Won)
		For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Beginning balance			307,795				325,615				318,401
Effect of change in accounting policy			—				—				—
Increase of loss allowance			17,251				47,465				54,703
Reversal of loss allowance			—				—				—
Write-offs			(16,985	)			(65,285	)			(44,556	)
Other			(188	)			—				(2,933	)
Ending balance			307,873				307,795				325,615

(3) Policies for Loss Allowance

The Company establishes loss allowances based on the likelihood of recoverability of trade and other receivables based on their aging at the end of the period and past customer default experience for the past three years. With respect to trade receivables relating to wireless telecommunications services, the Company considers the likelihood of recovery based on past customer default experience and the length of default in connection with the type of default (e.g., whether the customer’s service has been terminated or is continued). Consistent with customary practice, the Company writes off trade and other receivables for which the prescription period has passed or that are determined to be impossible or economically too costly to collect, including receivables that are less than Won 200,000 and more than six months overdue and receivables that have been determined to be the subject of identity theft.

(4) Aging of Accounts Receivable

										(Unit: in millions of Won, except percentages)
		As of June 30, 2026
		Six months or less				From six months to one year				From one year to three years				More than three years				Total
Accounts receivable – general			2,033,792				56,994				166,346				47,408				2,304,540
Percentage			88.25	%			2.47	%			7.22	%			2.06	%			100.0	%

C. Inventories

(1) Detailed Categories of Inventories

		(Unit: in millions of Won, except percentages and rates)
Account Category		For the six months ended June 30, 2026				For the year ended December 31, 2025				For the year ended December 31, 2024
Merchandise			134,893				154,054				183,202
Goods in transit			—				—				—
Other inventories			14,239				13,586				26,581
Total			149,132				167,640				209,783
Percentage of inventories to total assets [Inventories / Total assets]			0.46	%			0.56	%			0.69	%
Inventory turnover rate [Annualized cost of sales / { ( Beginning balance of inventories + Ending balance of inventories ) / 2}]			7.46				6.73				6.73

29

(2) Reporting of Inventories

The Company holds handsets, ICT equipment for offline sales, etc. in inventory.

D. Fair Value Measurement

See Note 29 of the notes to the Company’s interim consolidated financial statements attached hereto for more information.

E. Key Terms of Debt Securities

[SK Telecom]

The following are key terms and conditions of bonds issued by SK Telecom as of June 30, 2026. The compliance status is as of June 30, 2026, the date of the latest financial statements including the review or audit opinion of the independent auditor applicable to the determination of compliance status, except for the compliance status of the restriction on changes of ownership structure, which is as of the end of the reporting period.

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 62-3

Aug. 28, 2012

Aug. 28, 2032

90,000

Aug. 22, 2012

Meritz Securities Co., Ltd.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 100% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 2 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 63-2

Apr. 23, 2013

Apr. 23, 2033

130,000

Apr. 17, 2013

Korea Securities Finance Corp.

Unsecured Bond – Series 66-3

Feb. 26, 2015

Feb. 26, 2030

50,000

Feb. 11, 2015

Korea Securities Finance Corp.

Unsecured Bond – Series 67-3

July 17, 2015

July 17, 2030

90,000

July 9, 2015

Korea Securities Finance Corp.

Unsecured Bond – Series 68-3

Nov. 30, 2015

Nov. 30, 2035

70,000

Nov. 18, 2015

Korea Securities Finance Corp.

Unsecured Bond – Series 69-4

Mar. 4, 2016

Mar. 4, 2036

80,000

Feb. 22, 2016

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 100% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 2 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

30

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 70-4

June 3, 2016

June 3, 2031

50,000

May 24, 2016

Korea Securities Finance Corp.

Unsecured Bond – Series 71-3

Apr. 25, 2017

Apr. 25, 2027

100,000

Apr. 13, 2017

Korea Securities Finance Corp.

Unsecured Bond – Series 71-4

Apr. 25, 2017

Apr. 25, 2032

90,000

Apr. 13, 2017

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed Won 5 trillion
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		—
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 72-3

Nov. 10, 2017

Nov. 10, 2027

100,000

Oct. 31, 2017

Korea Securities Finance Corp.

Unsecured Bond – Series 73-3

Feb. 20, 2018

Feb. 20, 2028

200,000

Feb. 6. 2018

Korea Securities Finance Corp.

Unsecured Bond – Series 73-4

Feb. 20, 2018

Feb. 20, 2038

90,000

Feb. 6. 2018

Korea Securities Finance Corp.

Unsecured Bond – Series 74-3

Sept. 17, 2018

Sept. 17, 2038

50,000

Sept. 5, 2018

Korea Securities Finance Corp.

Unsecured Bond – Series 75-3

Mar. 6, 2019

Mar. 6, 2029

50,000

Feb. 21, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 75-4

Mar. 6, 2019

Mar. 6, 2039

50,000

Feb. 21, 2019

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 76-3

July 29, 2019

July 29, 2029

120,000

July 17, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 76-4

July 29, 2019

July 29, 2039

50,000

July 17, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 76-5

July 29, 2019

July 29, 2049

50,000

July 17, 2019

Korea Securities Finance Corp.

31

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 77-3

Oct. 22, 2019

Oct. 22, 2029

40,000

Oct. 10, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 77-4

Oct. 22, 2019

Oct. 22, 2039

60,000

Oct. 10, 2019

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 78-3

Jan. 14, 2020

Jan. 14, 2030

50,000

Dec. 31, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 78-4

Jan. 14, 2020

Jan. 14, 2040

70,000

Dec. 31, 2019

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 79-2

Oct. 19, 2020

Oct. 19, 2030

40,000

Oct. 6, 2020

Korea Securities Finance Corp.

Unsecured Bond – Series 79-3

Oct. 19, 2020

Oct. 19, 2040

110,000

Oct. 6, 2020

Korea Securities Finance Corp.

32

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 80-3

Jan. 15, 2021

Jan. 15, 2031

50,000

Jan. 5, 2021

Korea Securities Finance Corp.

Unsecured Bond – Series 80-4

Jan. 15, 2021

Jan. 15, 2041

100,000

Jan. 5, 2021

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 81-2

Oct. 28, 2021

Oct. 28, 2026

70,000

Oct. 18, 2021

Korea Securities Finance Corp.

Unsecured Bond – Series 81-3

Oct. 28, 2021

Oct. 28, 2041

40,000

Oct. 18, 2021

Korea Securities Finance Corp.

Unsecured Bond – Series 82-2

Apr. 12, 2022

Apr. 12, 2027

70,000

Mar. 31, 2022

Korea Securities Finance Corp.

Unsecured Bond – Series 82-3

Apr. 12, 2022

Apr. 12, 2042

40,000

Mar. 31, 2022

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

33

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 83-2

Aug. 10, 2022

Aug. 10, 2027

95,000

July 29, 2022

Korea Securities Finance Corp.

Unsecured Bond – Series 84-3

Dec. 14, 2022

Dec. 14, 2027

60,000

Dec. 2, 2022

Korea Securities Finance Corp.

Unsecured Bond – Series 84-4

Dec. 14, 2022

Dec. 14, 2032

40,000

Dec. 2, 2022

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 85-2

Feb. 17, 2023

Feb. 17, 2028

190,000

Feb. 7, 2023

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 86-2

Apr. 12, 2023

Apr. 12, 2028

200,000

Mar. 31, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 86-3

Apr. 12, 2023

Apr. 12, 2030

70,000

Mar. 31, 2023

Korea Securities Finance Corp.

34

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Hybrid Securities Series 3

June 5, 2023

June 5, 2083

400,000

May 23, 2023

Eugene Investment & Securities Co., Ltd.

Maintenance of Financial Ratio		Key Term		Not Applicable
		Compliance Status		Compliant
Restriction on Liens		Key Term		Not Applicable
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Not Applicable
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Not Applicable
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 87-1

Oct. 18, 2023

Oct. 16, 2026

115,000

Oct. 5, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 87-2

Oct. 18, 2023

Oct. 18, 2028

100,000

Oct. 5, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 87-3

Oct. 18, 2023

Oct. 18, 2030

50,000

Oct. 5, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 87-4

Oct. 18, 2023

Oct. 18, 2033

30,000

Oct. 5, 2023

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

35

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 88-1

Feb. 22, 2024

Feb. 22, 2027

180,000

Feb. 8, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 88-2

Feb. 22, 2024

Feb. 22, 2029

110,000

Feb. 8, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 88-3

Feb. 22, 2024

Feb. 22, 2034

110,000

Feb. 8, 2024

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 89-1

Dec. 11, 2024

Dec. 10, 2027

170,000

Nov. 29, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 89-2

Dec. 11, 2024

Dec. 11, 2029

90,000

Nov. 29, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 89-3

Dec. 11, 2024

Dec. 11, 2034

40,000

Nov. 29, 2024

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 90-1

Feb. 21, 2025

Feb. 21, 2028

190,000

Feb. 11, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 90-2

Feb. 21, 2025

Feb. 21, 2030

70,000

Feb. 11, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 90-3

Feb. 21, 2025

Feb. 21, 2035

140,000

Feb. 11, 2025

Korea Securities Finance Corp.

36

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond – Series 91-1

Sept. 11, 2025

Sept. 11, 2028

80,000

Sept. 1, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 91-2

Sept. 11, 2025

Sept. 10, 2030

190,000

Sept. 1, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 91-3

Sept. 11, 2025

Sept. 11, 2035

40,000

Sept. 1, 2025

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 300%
		Compliance Status		Compliant
Restriction on Liens		Key Term		The total amount of debt for which payment guarantees are provided or a security interest is created is less than 150% of the total shareholders’ equity as of the end of the immediately preceding fiscal year
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 50% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Exclusion from corporate group subject to restriction against cross-shareholding
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 13, 2026

37

[SK Broadband]

The following are key terms and conditions of bonds issued by SK Broadband as of June 30, 2026. The compliance status is as of June 30, 2026, the date of the latest financial statements including the review or audit opinion of the independent auditor applicable to the determination of compliance status, except for the compliance status of the restriction on changes of ownership structure, which is as of the end of the reporting period.

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond –Series 48-3

Sept. 24, 2019

Sept. 23, 2026

50,000

Sept. 10, 2019

Korea Securities Finance Corp.

Unsecured Bond – Series 52-2

Jan. 25, 2022

Jan. 25, 2032

50,000

Jan. 13, 2022

Korea Securities Finance Corp.

Unsecured Bond – Series 53-3

Mar. 2, 2023

Mar. 2, 2028

90,000

Feb. 17, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 54-1

Oct. 30, 2023

Oct. 30, 2026

100,000

Oct. 18, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 54-2

Oct. 30, 2023

Oct. 30, 2028

60,000

Oct. 18, 2023

Korea Securities Finance Corp.

Unsecured Bond – Series 55-1

Jan. 22, 2024

Jan. 22, 2027

170,000

Jan. 10, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 55-2

Jan. 22, 2024

Jan. 22, 2029

60,000

Jan. 10, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 56-1

Dec. 4, 2024

Dec. 3, 2027

130,000

Nov. 22, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 56-2

Dec. 4, 2024

Dec. 4, 2029

115,000

Nov. 22, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 56-3

Dec. 4, 2024

Dec. 4, 2031

50,000

Nov. 22, 2024

Korea Securities Finance Corp.

Unsecured Bond – Series 57-1

Apr. 29, 2025

Apr. 28, 2028

50,000

Apr. 17, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 57-2

Apr. 29, 2025

Apr. 29, 2030

120,000

Apr. 17, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 57-3

Apr. 29, 2025

Apr. 29, 2035

30,000

Apr. 17, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 58-1

Jun. 19, 2025

Jun. 19, 2030

480,000

Jun. 9, 2025

Korea Securities Finance Corp.

Unsecured Bond – Series 58-2

Jun. 19, 2025

Jun. 19, 2035

50,000

Jun. 9, 2025

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 400%
		Compliance Status		Compliant
Restriction on Liens		Key Term		200% of total shareholders’ equity
		Compliance Status		Compliant
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 70% of total assets
		Compliance Status		Compliant
Restriction on Changes of Ownership Structure		Key Term		Restriction on changes of ownership structure
		Compliance Status		Compliant
Submission of Compliance Certificate		Compliance Status		Submitted on April 23, 2026

38

Name

Issue Date

Maturity Date

Principal Amount (millions of Won)

Date of Fiscal Agency Agreement

Fiscal Agent

Unsecured Bond –Series 59-1

Feb. 12, 2026

Feb. 12, 2031

210,000

Feb. 2, 2026

Korea Securities Finance Corp.

Unsecured Bond – Series 59-2

Feb. 12, 2026

Feb. 12, 2036

30,000

Feb. 2, 2026

Korea Securities Finance Corp.

Unsecured Bond – Series 60-1

Jun. 12, 2026

Jun. 12, 2031

130,000

Jun. 1, 2026

Korea Securities Finance Corp.

Unsecured Bond – Series 60-2

Jun. 12, 2026

Jun. 12, 2036

30,000

Jun. 1, 2026

Korea Securities Finance Corp.

Maintenance of Financial Ratio		Key Term		Debt ratio no greater than 400%
		Compliance Status		—
Restriction on Liens		Key Term		200% of total shareholders’ equity
		Compliance Status		—
Restriction on Disposition of Assets		Key Term		Disposal of assets per fiscal year not to exceed 70% of total assets
		Compliance Status		—
Restriction on Changes of Ownership Structure		Key Term		Restriction on changes of ownership structure
		Compliance Status		—
Submission of Compliance Certificate		Compliance Status		To be submitted following the filing of the semi-annual business report for fiscal year 2026

IV. MANAGEMENT’S DISCUSSION AND ANALYSIS

Omitted in semi-annual reports in accordance with applicable Korean disclosure rules. For more information, please refer to the Company’s annual business report for the year ended December 31, 2025.

V. AUDITOR’S OPINION

1. Independent Auditors and Audit Opinions

A. Independent Auditor and Audit Opinion (Separate and Consolidated)

Period		Classification		Independent Auditor		Opinion		Emphasis of Matter		Critical Audit Matters
Six months ended June 30, 2026		Review report (Separate)		KPMG Samjong		Unqualified		—		—
		Review report (Consolidated)		KPMG Samjong		Unqualified		—		—
Year ended December 31, 2025		Audit report (Separate)		KPMG Samjong		Unqualified		—		Existence and accuracy of the Company’s cellular services revenue
		Audit report (Consolidated)		KPMG Samjong		Unqualified		—		Existence and accuracy of the Company’s cellular services revenue; impairment assessment of goodwill for the fixed-line telecommunications services cash generating unit
Year ended December 31, 2024		Audit report (Separate)		Ernst & Young Han Young		Unqualified		—		Timing of revenue recognition related to the Company’s cellular services
		Audit report (Consolidated)		Ernst & Young Han Young		Unqualified		—		Timing of revenue recognition related to the Company’s cellular services; impairment assessment of goodwill for the fixed-line telecommunications services cash generating unit

39

B. Audit Services Contracts with Independent Auditors

(Unit: in millions of Won, except number of hours)

Period

Auditors

Contents

Audit Contract

Actual Performance

Fee

Total Number of Hours

Fee

Total Number of Hours

Six months ended June 30, 2026

KPMG Samjong

Quarterly and semi-annual review

2,597

24,500

757

7,139

Separate financial statements audit

Consolidated financial statements audit

English financial statements review and other audit task

Internal accounting system audit

Year ended December 31, 2025

KPMG Samjong

Quarterly and semi-annual review

2,597

24,500

2,597

24,500

Separate financial statements audit

Consolidated financial statements audit

English financial statements review and other audit task

Internal accounting system audit

Year ended December 31, 2024

Ernst & Young Han Young

Quarterly and semi-annual review

2,880

25,000

2,880

25,000

Separate financial statements audit

Consolidated financial statements audit

English financial statements review and other audit task

Internal accounting system audit

C. Non-Audit Services Contracts with Independent Auditors

(Unit: in millions of Won)
Period		Contract Date		Service Provided		Service Duration		Fee
Six months ended June 30, 2026		May 22, 2026		Financial confirmation letter for frequency reallocation application		May 22, 2026 – June 25, 2026		3
		April 24, 2026		Consulting on enhancement of net zero strategy		April 24, 2026 – July 31, 2026		80
		April 7, 2026		Consulting on international taxation, including transfer pricing and tariffs		April 7, 2026 – March 5, 2027		65
		March 31, 2026		Consulting on enhancement of ESG management		April 2, 2026 – November 28, 2026		160
Year ended December 31, 2025		December 11, 2025		Financial confirmation letter for frequency reallocation application		December 16, 2025 – December 27, 2025		3
		July 28, 2025		Consulting on overseas value-added tax		July 28, 2025 – October 31, 2025		21
		March 28, 2025		Research on international cases of carbon neutrality information disclosures		March 28, 2025 – May 31, 2025		100
		March 26, 2025		Consulting on international taxation		March 26, 2025 – March 31, 2026		50
		March 24, 2025		Interpretation of customs value		March 24, 2025 – June 30, 2026		15
		November 25, 2022		Appeal of overseas value-added tax		December 1, 2022 – April 30, 2025		176
Year ended December 31, 2024		—		—		—		—

D. Non-Audit Service Contracts with Network Accounting Firms of the Independent Auditors

(Unit: in millions of Won)
Period		Name of Network Accounting Firm		Contract Date		Service Provided		Service Duration		Fee
Six months ended June 30, 2026		—		—		—		—		—
Year ended December 31, 2025		KPMG LLP		February 26, 2025		Tax adjustment and advisory services		February 26, 2025 – September 11, 2025		62
Year ended December 31, 2024		—		—		—		—		—

40

E. Discussions Between Audit Committee and Independent Auditors

Date		Attendance		Method		Key Matters Discussed
February 24, 2026		Company’s Audit Committee: 4 Auditor: 2		In-person		Report on 2025 results of audit of financial statements; report on results of 2025 internal accounting management system audit
April 22, 2026		Company’s Audit Committee: 4 Auditor: 2		In-person		Report on 2025 results of Public Company Accounting Oversight Board audit
April 22, 2026		Company’s Audit Committee: 4 Auditor: 2		In-person		Report on audit plans for fiscal year 2026
July 22, 2026		Company’s Audit Committee: 4 Auditor: 2		In-person		Report on results of external auditors’ 2026 semi-annual review

41

VI. CORPORATE ORGANIZATION INCLUDING BOARD OF DIRECTORS

1. Board of Directors

A. Overview of the Composition of the Board of Directors

The Board of Directors is composed of eight members: two executive directors, five independent directors and one non-executive director. The Board of Directors operates the following five committees: Independent Director Nomination Committee, Audit Committee, Future Strategy Committee, Compensation Committee and ESG Committee.

Total Number of Directors		Executive Directors		Independent Directors		Non-executive Director
8		Jaihun Jung, Myung Jin Han		Chang Bo Kim, Hae Yun Oh, Mi Kyung Noh, Seong Yeob Lee, Tay Seop Lim		Poong Young Yoon

* At the 42nd General Meeting of Shareholders held on March 26, 2026, Jaihun Jung and Myung Jin Han were newly elected as executive directors and Poong Young Yoon was newly elected as a non-executive director. Hae Yun Oh was reelected, and Seong Yeob Lee and Tay Seop Lim were newly elected, as independent directors. Tay Seop Lim was separately elected as an independent director serving as an audit committee member.

B. Committees within the Board of Directors

(1) Committee Structure

(a) Independent Director Nomination Committee (as of June 30, 2026)

Total Number of Persons		Names of Member Directors		Task
3		Hae Yun Oh, Tay Seop Lim, Poong Young Yoon		Evaluation and management of candidates for independent directors, confirmation of list of candidates; nomination of independent directors to be elected at the General Meeting of Shareholders

* Under the Korean Commercial Code, a majority of the members of the Independent Director Nomination Committee must be independent directors.

(b) Future Strategy Committee (as of June 30, 2026)

Total Number of Persons		Names of Member Directors		Task
8		Chang Bo Kim, Jaihun Jung, Hae Yun Oh, Mi Kyung Noh, Seong Yeob Lee, Tay Seop Lim, Poong Young Yoon, Myung Jin Han		Deliberation of annual management plan and discussion of mid- to long-term strategy; establishment and evaluation of KPI and material investments; enhancement of enterprise value and establishment of future and direction of the Company

* The Future Strategy Review Committee is a committee established by the resolution of the Board of Directors.

(c) Compensation Committee (as of June 30, 2026)

Total Number of Persons		Names of Member Directors		Task
4		Mi Kyung Noh, Chang Bo Kim, Hae Yun Oh, Poong Young Yoon		Management of CEO candidates; deliberation of election and re-election of CEO; review of CEO and executive director remuneration amount appropriateness

* The Compensation Committee is a committee established by the resolution of the Board of Directors.

42

(d) ESG Committee (as of June 30, 2026)

Total Number of Persons		Names of Member Directors		Task
3		Seong Yeob Lee, Chang Bo Kim, Tay Seop Lim		Deliberation of plans and performance in the major areas of ESG, mandatory ESG disclosure matters and ESG stakeholder communication

* The ESG Committee is a committee established by the resolution of the Board of Directors.

(e) Audit Committee (as of June 30, 2026)

Total Number of Persons		Names of Member Directors		Task
4		Tay Seop Lim, Chang Bo Kim, Mi Kyung Noh, Seong Yeob Lee		Review of financial statements and supervision of independent audit process, etc.

* The Audit Committee is a committee established under the provisions of the Articles of Incorporation and the Korean Commercial Code.

2. Audit System

The Company’s Audit Committee consists of four independent directors, Tay Seop Lim (financial and accounting expert), Chang Bo Kim, Mi Kyung Noh (financial and accounting expert) and Seong Yeob Lee.

3. Shareholders’ Exercise of Voting Rights

A. Voting System

(As of June 30, 2026)
Classification of Voting System		Cumulative Voting System		Written Voting System		Electronic Voting System
Adoption status		Selected		Not adopted		Adopted
Implementation status		—		—		Conducted during the 42nd General Meeting of Shareholders

The Company implemented a proxy solicitation procedure for the 42nd General Meeting of Shareholders, pursuant to which shareholders were permitted to provide written proxy to exercise their voting rights.

43

VII. SHAREHOLDERS

1. Shareholdings of the Largest Shareholder and Related Persons

A. Shareholdings of the Largest Shareholder and Related Persons

(As of June 30, 2026)						(Unit: in shares and percentages)
Name		Relationship		Share Type		Number of Shares Owned and Ownership Ratio
						Beginning of Period*								End of Period
						Number of Shares				Ownership Ratio				Number of Shares				Ownership Ratio
SK Inc.		Largest shareholder		Common share			65,668,397				30.57				65,668,397				30.57
Tae Won Chey		Officer of affiliated company		Common share			303				0.00				303				0.00
Dong Hyun Jang		Officer of affiliated company		Common share			762				0.00				762				0.00
Young Sang Ryu		Officer of affiliated company		Common share			20,309				0.01				29,679				0.01
Jaihun Jung(1)		Officer of the Company		Common share			0				0.00				1,518				0.00
Myung Jin Han(1)		Officer of the Company		Common share			0				0.00				11,918				0.01
Poong Young Yoon		Officer of the Company		Common share			2,733				0.00				4,639				0.00
Chang Bo Kim		Officer of the Company		Common share			868				0.00				2,293				0.00
Mi Kyung Noh		Officer of the Company		Common share			1,846				0.00				2,346				0.00
Hae Yun Oh		Officer of the Company		Common share			3,184				0.00				3,684				0.00
Seong Yeob Lee		Officer of the Company		Common share			0				0.00				500				0.00
Tay Seop Lim		Officer of the Company		Common share			0				0.00				500				0.00
Total				Common share			65,709,344				30.59				65,726,539				30.60

(1) At the 42nd General Meeting of Shareholders held on March 26, 2026, Jaihun Jung was newly appointed as Chief Executive Officer and Myung Jin Han was newly appointed as an executive director. As a result of their inclusion as the largest shareholder and related persons, their shareholdings have been reflected in the changes in shareholdings of the largest shareholder and related persons.

** The number of shares owned and ownership ratio as of the beginning of the period account for the 10,942 shares owned by Yong-Hak Kim (former independent director) and Junmo Kim (former independent director), whose respective terms expired in March 2026.

B. Overview of the Largest Shareholder

As of June 30, 2026, the Company’s largest shareholder was SK Inc. SK Inc. was established on April 13, 1991 and was made public on the securities market on November 11, 2009 under the identification code “034730.” SK Inc. is located at 26, Jong-ro, Jongno-gu, Seoul, Korea. SK Inc.’s telephone number is +82-2-2121-5114 and its website is https://www.sk-inc.com/.

2. Distribution of Shares

A. Shareholders with Ownership of 5% or Greater

(As of June 30, 2026)		(Unit: in shares and percentages)
Classification		Shareholder Name (Title)		Number of Shares Owned				Ownership Ratio				Remarks
Shareholders with ownership of 5% or greater		SK Inc.			65,668,397				30.57	%			—
		Citibank ADR			26,770,553				12.46	%			—
		National Pension Service			17,229,917				8.02	%			—
Shareholdings under the Employee Stock Ownership Program					—				—				—

44

B. Minority Shareholders

(As of June 30, 2026)

(Unit: in persons, shares and percentages)

Classification

Shareholders

Ownership

Number of Minority Shareholders

Total Number of Shareholders

Ratio (%)

Number of shares Owned by Minority Shareholders

Total Number of Shares Issued

Ratio (%)

Minority shareholders*

395,469

395,475

99.9

105,676,089

213,057,911

49.6

* Shareholders who hold less than 1% of total voting shares issued.

3. Share Price and Trading Volume in the Last Six Months

A. Domestic Securities Market

(Unit: in Won and shares)
Types				January 2026				February 2026				March 2026				April 2026				May 2026				June 2026
Common Stock		Highest			72,500				86,500				81,200				100,500				105,800				125,200
		Lowest			52,800				69,100				70,300				77,800				93,200				88,400
		Average			59,038				77,688				77,352				92,586				99,606				100,343
Daily Transaction Volume		Highest			5,938,623				4,134,911				1,891,071				2,478,327				2,243,801				8,152,778
		Lowest			445,753				976,090				415,991				341,676				522,944				752,498
Monthly Transaction Volume					33,466,962				29,508,854				19,811,442				22,202,251				21,713,083				45,502,531

B. Foreign Securities Market (New York Stock Exchange)

(Unit: in US$ and ADRs)
Types				January 2026				February 2026				March 2026				April 2026				May 2026				June 2026
Depositary Receipt		Highest			28.19				33.43				31.50				38.82				39.63				46.00
		Lowest			20.29				27.91				28.07				29.39				36.30				32.07
		Average			22.82				30.43				29.41				35.78				37.78				37.50
Daily Transaction Volume		Highest			977,000,000				3,520,000				996,000,000				690,000,000				3,970,000				7,800,000
		Lowest			1,020,000				1,080,000				1,000,000				1,000,000				1,220,000				1,690,000
Monthly Transaction Volume					8,870,060,000				38,920,000				4,251,450,000				731,750,000				46,880,000				68,390,000

VIII. EMPLOYEES AND DIRECTORS

1. Officers and Employees

A. Employees

(As of June 30, 2026) (Unit: in persons, years and millions of Won)

Business Segment		Gender		Number of Employees																				Average Length of Service (Years)				Aggregate Wage for the Year of 2026				Average Wage Per Person
				Employees without a Fixed Term of Employment								Employees with a Fixed Term of Employment								Total
				Total				Part-time Employees				Total				Part-time Employees
—		Male			3,843				—				172				—				4,015				15.4				394,022				97
—		Female			997				—				250				—				1,247				9.3				82,448				61
Total					4,840				—				422				—				5,262				14.0				476,470				88

45

B. Compensation of Unregistered Officers

(As of June 30, 2026)				(Unit: in persons and millions of Won)
Number of Unregistered Officers		Aggregate Wage for the Year of 2026		Average Wage Per Person
96		29,123		303

2. Compensation of Directors

A. Amount Approved at the Shareholders’ Meeting

(Unit: in persons and millions of Won)
Fiscal Year		Classification		Number of Directors		Aggregate Amount Approved
Six months ended June 30, 2026		Directors		8		10,000
Year ended December 31, 2025		Directors		8		10,000
Year ended December 31, 2024		Directors		9		10,000

B. Amount Paid

(1) Total Amount

(Unit: in persons, shares and millions of Won)
Fiscal Year		Number of Directors***					Total Compensation****					Average Compensation Per Director***					Share-based Compensation Amount Included in Total Compensation					Compensation Not Included in Total Remuneration (Outstanding Balance)																									Remarks
																						Stock Options															Other Share-based Compensation*****
																						Exercisable Quantity					Non-exercisable Quantity					Remaining Amount*					Quantity Not Yet Delivered					Market Value**
Six months ended June 30, 2026				8					2,923					417					1,061					116,844					—					5,328					35,364					3,126					—
Year ended December 31, 2025				8					5,293					756					262					158,858					—					1,795					64,006					3,424					—
Year ended December 31, 2024				9					5,781					723					297					158,858					—					2,038					64,006					3,533					—

* Refers to the aggregate amount of liabilities and equity recorded on the statement of financial position in connection with stock options for all directors as of the end of each fiscal year and reporting period.

** Refers to the quantity not yet delivered multiplied by the closing price as of the end of each fiscal year. Closing prices as of the end of each fiscal year: Won 55,200 as of December 30, 2024, Won 53,500 as of December 30, 2025 and Won 88,400 as of June 30, 2026.

*** The number of directors includes one non-executive director who did not receive any compensation, and the average compensation per director excludes one non-executive director who did not receive any compensation.

**** Total compensation excludes retirement benefits for executive directors.

***** From 2023 to 2024, the Company granted performance stock units (“PSUs”) to certain of its and its subsidiaries’ directors (including the representative director) and executive officers in order to align management and shareholder interests and further align growth in the Company’s enterprise value with management compensation. Future performance targets were set when entering into the relevant stock compensation agreement, and the final number of shares to be received by each grantee, which would be settled out of the Company’s treasury shares, were determined based on the achievement levels of such targets subject to approval by the Board of Directors. Accordingly, the quantity of PSUs not yet delivered is based on the number of units initially granted and may differ from the actual number of shares delivered to each grantee on an after-tax basis.

46

(2) Amount by Classification

(Unit: in persons, shares and millions of Won)
		Fiscal Year		Number of Directors***					Total Compensation****					Average Compensation Per Director***					Share-based Compensation Amount Included in Total Compensation					Compensation Not Included in Total Remuneration (Outstanding Balance)																									Remarks
Classification																								Stock Options															Other Share-based Compensation*****
																								Exercisable Quantity					Non-exercisable Quantity					Remaining Amount*					Quantity Not Yet Delivered					Market Value**
Registered Directors (Excluding Independent Directors and Audit Committee Members)		Six months ended June 30, 2026				3					2,399					1,200					790					116,844					—					5,328					35,364					3,126					—
		Year ended December 31, 2025				3					4,530					2,265					—					158,858					—					1,795					64,006					3,424					—
		Year ended December 31, 2024				4					4,998					1,666					17					158,858					—					2,038					64,006					3,533					—
Independent Directors (Excluding Audit Committee Members)		Six months ended June 30, 2026				1					98					98					48					—					—					—					—					—					—
		Year ended December 31, 2025				1					147					147					47					—					—					—					—					—					—
		Year ended December 31, 2024				1					150					150					50					—					—					—					—					—					—
Audit Committee Members		Six months ended June 30, 2026				4					426					107					223					—					—					—					—					—					—
		Year ended December 31, 2025				4					616					154					215					—					—					—					—					—					—
		Year ended December 31, 2024				4					633					158					230					—					—					—					—					—					—
Auditor		Six months ended June 30, 2026				—					—					—					—					—					—					—					—					—					—
		Year ended December 31, 2025				—					—					—					—					—					—					—					—					—					—
		Year ended December 31, 2024				—					—					—					—					—					—					—					—					—					—

* Refers to the aggregate amount of liabilities and equity recorded on the statement of financial position in connection with stock options for all directors and auditors as of the end of each fiscal year and reporting period.

** Refers to the quantity not yet delivered multiplied by the closing price as of the end of each fiscal year. Closing prices as of the end of each fiscal year: Won 55,200 as of December 30, 2024, Won 53,500 as of December 30, 2025 and Won 88,400 as of June 30, 2026.

*** The number of directors includes one non-executive director who did not receive any compensation, and the average compensation per director excludes one non-executive director who did not receive any compensation.

**** Total compensation excludes retirement benefits for executive directors.

***** From 2023 to 2024, the Company granted PSUs to certain of its and its subsidiaries’ directors (including the representative director) and executive officers in order to align management and shareholder interests and further align growth in the Company’s enterprise value with management compensation. Future performance targets were set when entering into the relevant stock compensation agreement, and the final number of shares to be received by each grantee, which would be settled out of the Company’s treasury shares, were determined based on the achievement levels of such targets subject to approval by the Board of Directors. Accordingly, the quantity of PSUs not yet delivered is based on the number of units initially granted and may differ from the actual number of shares delivered to each grantee on an after-tax basis.

47

(3) Amount by Type of Income

																				(Unit: in millions of Won)
Classification		Fiscal Year		Salary				Bonus				Gains from Exercise of Stock Options				Other Share- based Compensation Paid				Other Earned Income				Retirement Income				Other Income
Registered Directors (Excluding Independent Directors and Audit Committee Members)		Six months ended June 30, 2026			1,081				514				667				123				14				—				—
		Year ended December 31, 2025			2,020				2,460				—				—				50				1,215				—
		Year ended December 31, 2024			2,548				2,394				17				—				39				3,727				—
Independent Directors (Excluding Audit Committee Members)		Six months ended June 30, 2026			50				—				—				48				—				—				—
		Year ended December 31, 2025			100				—				—				47				—				—				—
		Year ended December 31, 2024			100				—				—				50				—				—				—
Audit Committee Members		Six months ended June 30, 2026			203				—				—				223				—				—				—
		Year ended December 31, 2025			401				—				—				215				—				—				—
		Year ended December 31, 2024			403				—				—				230				—				—				—
Auditor		Six months ended June 30, 2026			—				—				—				—				—				—				—
		Year ended December 31, 2025			—				—				—				—				—				—				—
		Year ended December 31, 2024			—				—				—				—				—				—				—

3. Individual Compensation of Directors and Officers

A. Remuneration for Individual Directors (among those Paid over Won 500 Million per Year)

																(Unit: in shares and millions of Won)
Name		Fiscal Year		Title		Total Compensation***				Share-based Compensation Amount Included in Total Compensation										Compensation Not Included in Total Remuneration (Outstanding Balance)																								Remarks
										Type		Quantity******				Amount				Stock Options																Other Share-based Compensation*****
																				Exercisable Quantity				Non-Exercisable Quantity				Exercise Price****				Remaining Amount*				Quantity Not Yet Delivered*****				Market Value**
Young Sang Ryu		Six months ended June 30, 2026		President			1,214			Stock Option			18,190				537				7,145				—				38,452				358				26,555				2,347				—
										—			—				—				98,425				—				56,860				4,196				—				—				—
		Year ended December 31, 2025		Representative Director/ President			3,407			—			—				—				7,145				—				38,452				108				51,935				2,778				—
										—			—				—				18,190				—				50,276				212				—				—				—
										—			—				—				98,425				—				56,860				1,096				—				—				—
		Year ended December 31, 2024		Representative Director/ President			3,083			Stock Option			5,265				17				7,145				—				38,452				121				51,935				2,867				—
										—			—				—				18,190				—				50,276				253				—				—				—
										—			—				—				98,425				—				56,860				1,224				—				—				—
Myung Jin Han		Six months ended June 30, 2026		Executive Director/ President			523			Stock Option			4,403				130				11,274				—				56,860				510				—				—				—
										PSU			539				123				—				—				—				—				—				—				—

* Refers to the aggregate amount of liabilities and equity recorded on the statement of financial position in connection with stock options for all directors and auditors as of the end of each fiscal year and reporting period.

** Refers to the quantity not yet delivered multiplied by the closing price as of the end of each fiscal year. Closing prices as of the end of each fiscal year: Won 55,200 as of December 30, 2024, Won 53,500 as of December 30, 2025 and Won 88,400 as of June 30, 2026.

*** Reflects compensation from the date of appointment for newly appointed directors (executive director Myung Jin Han was appointed on March 26, 2026) and compensation through the date of resignation for directors who resigned (representative director Young Sang Ryu resigned on March 26, 2026).

**** The exercise price of stock options under “Compensation Not Included in Total Compensation (Outstanding Balance)” is denominated in Won.

***** Refers to PSUs. The number of PSUs under “Quantity Not Yet Delivered” is based on the number of units initially granted and may differ from the actual number of shares delivered to each grantee on an after-tax basis.

****** The number of PSUs under “Share-based Compensation Amount Included in Total Compensation” represents the actual number of treasury shares delivered based on the value of the PSUs on an after-tax basis.

******* Representative director Jaihun Jung, who was newly appointed at the 42nd General Meeting of Shareholders held on March 26, 2026, was excluded from the above disclosure as the total compensation from the date of his appointment did not exceed Won 500 million.

48

(1) Status of Stock Option Grants

(As of June 30, 2026)																				(Unit: in shares)
Grantee		Date of Grant		Method of Grant		Type		Quantity Initially Granted				Changes During Reporting Period								Total Changes								Unexercised as of End of Reporting Period				Exercise Period		Exercise Price*
												Exercised				Canceled				Exercised				Canceled
Young Sang Ryu		March 26, 2019		Issuance of treasury shares, cash settlement		Common shares			5,265				—				—				5,265				—				—			March 27, 2021 – March 26, 2024			50,862
Young Sang Ryu		March 26, 2020		Issuance of treasury shares, cash settlement		Common shares			7,145				—				—				—				—				7,145			March 27, 2023 – March 26, 2027			38,452
Young Sang Ryu		March 25, 2021		Issuance of treasury shares, cash settlement		Common shares			18,190				18,190				—				18,190				—				—			March 26, 2023 – March 25, 2026			50,276
Young Sang Ryu		March 25, 2022		Issuance of treasury shares, cash settlement		Common shares			295,275	**			—				—				—				196,850				98,425			March 26, 2025 – March 25, 2029			56,860
Myung Jin Han		March 25, 2021		Issuance of treasury shares, cash settlement		Common shares			4,403				4,403				—				4,403				—				—			March 26, 2023 – March 25, 2026			50,276
Myung Jin Han		March 25, 2022		Issuance of treasury shares, cash settlement		Common shares			11,274				—				—				—				—				11,274			March 26, 2024 – March 25, 2027			56,860

* The exercise price of stock options is denominated in Won.

** Two-thirds of the stock options granted to director Young Sang Ryu on March 25, 2022 have been canceled and replaced with PSUs.

(2) Status of Other Share-based Compensation Grants

(As of June 30, 2026)

(Unit: in shares)

Grantee

Grant Date / Payment (Cancellation) Date

Type

New Grants**

Cumulative Grants**

Shares Paid During the Reporting Period***

Cumulative Changes**

Unpaid as of End of Reporting Period**

Condition for Payment

Timing of Delivery

Basis and Procedures for Grant

Paid

Canceled

Young Sang Ryu

March 28, 2023*

PSU

—

25,380

5,905

25,380

—

—

Full service during the year in which the grant date falls

May 13, 2026

Following a resolution of the Board of Directors

Young Sang Ryu

March 26, 2024

PSU

—

26,555

—

—

—

26,555

Full service during the year in which the grant date falls

After the 43rd General Meeting of Shareholders

Following a resolution of the Board of Directors

Myung Jin Han

March 28, 2023*

PSU

—

2,400

539

2,400

—

—

Full service during the year in which the grant date falls

May 13, 2026

Following a resolution of the Board of Directors

* With respect to the PSUs granted in 2023, the actual number of shares to be delivered was determined based on the rates of change in the Company’s share price and the KOSPI 200 index over the subsequent three-year period. Following approval by the Board of Directors, the treasury shares were delivered in May 2026 based on the value of the PSUs on an after-tax basis.

** The number of PSUs newly granted, cumulatively granted, cumulatively changed, and unpaid as of the end of the reporting period are based on the quantity initially granted and may differ from the actual number of shares delivered on an after-tax basis.

*** Refers to the actual number of treasury shares delivered based on the value of the PSUs on an after-tax basis.

49

B. Composition of Total Remuneration

Name		Fiscal Year		Composition
Young Sang Ryu		Six months ended June 30, 2026		1. Earned income: • Salary: Won 364 million • Bonus: Won 310 million • Gains from exercise of stock options: Won 537 million • Other share-based compensation: — • Other earned income: Won 3 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation:
				•  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 2,347 million
		Year ended December 31, 2025		1. Earned income: • Salary: Won 1,540 million • Bonus: Won 1,820 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 47 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 18,190 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 25,380 PSUs / Market value: Won 1,358 million • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 1,421 million
		Year ended December 31, 2024		1. Earned income: • Salary: Won 1,400 million • Bonus: Won 1,640 million • Gains from exercise of stock options: Won 17 million • Other share-based compensation: — • Other earned income: Won 26 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 18,190 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 25,380 PSUs / Market value: Won 1,401 million • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 1,466 million
Myung Jin Han		Six months ended June 30, 2026		1. Earned income: • Salary: Won 266 million • Bonus: — • Gains from exercise of stock options: Won 130 million • Other share-based compensation: Won 123 million • Other earned income: Won 4 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2022 stock option grant - Unexercised: 11,274 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 2,400 PSUs / Market value: Won 212 million

50

C. Remuneration for the Five Highest-Paid Officers (among those Paid over Won 500 Million per Year)

(As of June 30, 2026)																																(Unit: in shares and millions of Won)
Name		Fiscal Year		Title		Total Compensation***				Share-based Compensation Amount Included in Total Compensation										Compensation Not Included in Total Remuneration (Outstanding Balance)																								Remarks
										Type		Quantity*****				Amount				Stock Options																Other Share-based Compensation****
																				Exercisable Quantity				Non-Exercisable Quantity				Exercise Price***				Remaining Amount*				Quantity Not Yet Delivered****				Market Value**
Young Sang Ryu		Six months ended June 30, 2026		President			2,919			Stock Option			18,190				537				7,145				—				38,452				358				—				—				—
										PSU			5,905				1,299				98,425				—				56,860				4,196				26,555				2,347				—
		Year ended December 31, 2025		Representative Director/President			3,407			—			—				—				7,145				—				38,452				108				—				—				—
										—			—				—				18,190				—				50,276				212				—				—				—
										—			—				—				98,425				—				56,860				1,096				51,935				2,778				—
		Year ended December 31, 2024		Representative Director/President			3,083			Stock Option			5,265				17				7,145				—				38,452				121				—				—				—
										—			—				—				18,190				—				50,276				253				—				—				—
										—			—				—				98,425				—				56,860				1,224				51,935				2,867				—
Jaihun Jung		Six months ended June 30, 2026		Representative Director/President			1,705			—			—				—				—				—				—				—				6,449				570				—
		Year ended December 31, 2025		President			2,079			—			—				—				—				—				—				—				6,449				345				—
		Year ended December 31, 2024		President			860			—			—				—				—				—				—				—				6,449				356				—
Jong Ryeol Kang		Six months ended June 30, 2026		Management Advisor			1,203			Stock Option			35,098				710				—				—				—				—				—				—				—
										PSU			1,049				225				—				—				—				—				5,311				469				—
		Year ended December 31, 2025		Management Advisor			1,312			—			—				—				6,219				—				38,452				94				—				—				—
										—			—				—				7,136				—				50,276				83				—				—				—
										—			—				—				21,743				—				56,860				201				9,711				520				—
		Year ended December 31, 2024		Executive Director/President			5,194			—			—				—				6,219				—				38,452				105				—				—				—
										—			—				—				7,136				—				50,276				99				—				—				—
										—			—				—				21,743				—				56,860				235				9,711				536				—
Suk Geun Chung		Six months ended June 30, 2026		Head of CIC			944			—			—				—				—				—				—				—				—				—				—
										—			—				—				—				—				—				—				—				—				—
		Year ended December 31, 2025		Head of CIC			1,190			—			—				—				—				—				—				—				—				—				—
										—			—				—				—				—				—				—				—				—				—
		Year ended December 31, 2024		Head of Business Unit			1,077			—			—				—				—				—				—				—				—				—				—
										—			—				—				—				—				—				—				—				—				—
Myung Jin Han		Six months ended June 30, 2026		Executive Director/President			757			Stock Option			4,403				130				—				—				—				—				—				—				—
										PSU			539				123				11,274				—				56,860				510				—				—				—
		Year ended December 31, 2025		President			172			—			—				—				4,403				—				50,276				51				—				—				—
										—			—				—				11,274				—				56,860				104				2,400				128				—

* Refers to the aggregate amount of liabilities and equity recorded on the statement of financial position in connection with stock options for each of the five highest-paid officers whose individual compensation is Won 500 million or more per year, as of the end of each fiscal year and reporting period.

** Refers to the quantity not yet delivered multiplied by the closing price as of the end of each fiscal year. Closing prices as of the end of each fiscal year: Won 55,200 as of December 30, 2024, Won 53,500 as of December 30, 2025 and Won 88,400 as of June 30, 2026.

*** The exercise price of stock options under “Compensation Not Included in Total Compensation (Outstanding Balance)” is denominated in Won.

**** Refers to PSUs. The number of PSUs under “Quantity Not Yet Delivered” is based on the number of units initially granted and may differ from the actual number of shares delivered to each grantee on an after-tax basis.

***** The number of PSUs under “Share-based Compensation Amount Included in Total Compensation” represents the actual number of treasury shares delivered based on the value of the PSUs on an after-tax basis.

51

(1) Status of Stock Option Grants

(As of June 30, 2026)																				(Unit: in shares and Won)
Grantee		Date of Grant		Method of Grant		Type		Quantity Initially Granted				Changes During Reporting Period								Total Changes								Unexercised as of End of Reporting Period				Exercise Period				Exercise Price
												Exercised				Canceled				Exercised				Canceled
Young Sang Ryu		March 26, 2019		Issuance of treasury shares, cash settlement		Common shares			5,265				—				—				5,265				—				—				March 27, 2021 – March 26, 2024				50,862
Young Sang Ryu		March 26, 2020		Issuance of treasury shares, cash settlement		Common shares			7,145				—				—				—				—				7,145				March 27, 2023 – March 26, 2027				38,452
Young Sang Ryu		March 25, 2021		Issuance of treasury shares, cash settlement		Common shares			18,190				18,190				—				18,190				—				—				March 26, 2023 – March 25, 2026				50,276
Young Sang Ryu		March 25, 2022		Issuance of treasury shares, cash settlement		Common shares			295,275	*			—				—				—				196,850				98,425				March 26, 2025 – March 25, 2029				56,860
Jong Ryeol Kang		March 26, 2020		Issuance of treasury shares, cash settlement		Common shares			6,219				6,219				—				6,219				—				—				March 27, 2023 – March 26, 2027				38,452
Jong Ryeol Kang		March 25, 2021		Issuance of treasury shares, cash settlement		Common shares			7,136				7,136				—				7,136				—				—				March 26, 2023 – March 25, 2026				50,276
Jong Ryeol Kang		March 25, 2022		Issuance of treasury shares, cash settlement		Common shares			21,743				21,743				—				21,743				—				—				March 26, 2025 – March 25, 2029				56,860
Myung Jin Han		March 25, 2021		Issuance of treasury shares, cash settlement		Common shares			4,403				4,403				—				4,403				—				—				March 26, 2023 – March 25, 2026				50,276
Myung Jin Han		March 25, 2022		Issuance of treasury shares, cash settlement		Common shares			11,274				—				—				—				—				11,274				March 26, 2024 – March 25, 2027				56,860

* Two-thirds of the stock options granted to director Young Sang Ryu on March 25, 2022 were canceled and replaced with PSUs.

(2) Status of Other Share-based Compensation Grants

(As of June 30, 2026)																				(Unit: in shares)
Grantee		Grant Date / Payment (Cancellation) Date		Type		New Grants**		Cumulative Grants**		Shares Paid During the Reporting Period***		Cumulative Changes**				Unpaid as of End of Reporting Period**		Condition for Payment		Timing of Delivery		Basis and Procedures for Grant
												Paid		Canceled
Young Sang Ryu		March 28, 2023*		PSU		—		25,380		5,905		25,380		—		—		Full service during the year in which the grant date falls		May 13, 2026		Following a resolution of the Board of Directors
Young Sang Ryu		March 26, 2024		PSU		—		26,555		—		—		—		26,555		Full service during the year in which the grant date falls		After the 43rd General Meeting of Shareholders		Following a resolution of the Board of Directors
Jaihun Jung		March 26, 2024		PSU		—		6,449		—		—		—		6,449		Full service during the year in which the grant date falls		After the 43rd General Meeting of Shareholders		Following a resolution of the Board of Directors
Jong Ryeol Kang		March 28, 2023*		PSU		—		4,400		1,049		4,400		—		—		Full service during the year in which the grant date falls		May 13, 2026		Following a resolution of the Board of Directors
Jong Ryeol Kang		March 26, 2024		PSU		—		5,311		—		—		—		5,311		Full service during the year in which the grant date falls		After the 43rd General Meeting of Shareholders		Following a resolution of the Board of Directors
Myung Jin Han		March 28, 2023*		PSU		—		2,400		539		2,400		—		—		Full service during the year in which the grant date falls		May 13, 2026		Following a resolution of the Board of Directors

52

* With respect to the PSUs granted in 2023, the actual number of shares to be delivered was determined based on the rates of change in the Company’s share price and the KOSPI 200 index over the subsequent three-year period. The treasury shares were delivered in May 2026 based on the value of the PSUs on an after-tax basis.

** The number of PSUs newly granted, cumulatively granted, cumulatively changed, and unpaid as of the end of the reporting period are based on the quantity initially granted and may differ from the actual number of shares delivered on an after-tax basis.

*** Refers to the actual number of treasury shares delivered based on the value of the PSUs on an after-tax basis.

D. Composition of Total Remuneration

Name		Fiscal Year		Composition
Young Sang Ryu		Six months ended June 30, 2026		1. Earned income: • Salary: Won 770 million • Bonus: Won 310 million • Gains from exercise of stock options: Won 537 million • Other share-based compensation: Won 1,299 million • Other earned income: Won 3 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 2,347 million
		Year ended December 31, 2025		1. Earned income: • Salary: Won 1,540 million • Bonus: Won 1,820 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 47 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 18,190 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 25,380 PSUs / Market value: Won 1,358 million • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 1,421 million
		Year ended December 31, 2024		1. Earned income: • Salary: Won 1,400 million • Bonus: Won 1,640 million • Gains from exercise of stock options: Won 17 million • Other share-based compensation: — • Other earned income: Won 26 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 7,145 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 18,190 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 98,425 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 25,380 PSUs / Market value: Won 1,401 million • 2024 PSU grant - Undelivered: 26,555 PSUs / Market value: Won 1,466 million

53

Name		Fiscal Year		Composition
Jaihun Jung		Six months ended June 30, 2026		1. Earned income: • Salary: Won 700 million • Bonus: Won 1,000 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 5 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: — •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 6,449 PSUs / Market value: Won 570 million
		Year ended December 31, 2025		1. Earned income: • Salary: Won 1,067 million • Bonus: Won 1,000 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 12 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: — •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 6,449 PSUs / Market value: Won 345 million
		Year ended December 31, 2024		1. Earned income: • Salary: Won 850 million • Bonus: — • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 10 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: — •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 6,449 PSUs / Market value: Won 356 million
Jong Ryeol Kang		Six months ended June 30, 2026		1. Earned income: • Salary: Won 258 million • Bonus: — • Gains from exercise of stock options: Won 710 million • Other share-based compensation: Won 225 million • Other earned income: Won 10 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: — •  Other share-based compensation: Unrealized share-based compensation • 2024 PSU grant - Undelivered: 5,311 PSUs / Market value: Won 469 million

54

Name		Fiscal Year		Composition
		Year ended December 31, 2025		1. Earned income: • Salary: Won 517 million • Bonus: Won 780 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 15 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 6,219 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 7,136 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 21,743 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 4,400 PSUs / Market value: Won 235 million • 2024 PSU grant - Undelivered: 5,311 PSUs / Market value: Won 284 million
		Year ended December 31, 2024		1. Earned income: • Salary: Won 700 million • Bonus: Won 754 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 13 million 2. Retirement income: Won 3,727 million 3. Other income: — 4. Compensation not included in total compensation: •  Gains from exercise of stock options: Unexercised stock options • 2020 stock option grant - Unexercised: 6,219 shares / Exercise price: Won 38,452 • 2021 stock option grant - Unexercised: 7,136 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 21,743 shares / Exercise price: Won 56,860 •  Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 4,400 PSUs / Market value: Won 243 million • 2024 PSU grant - Undelivered: 5,311 PSUs / Market value: Won 293 million
Suk Geun Chung		Six months ended June 30, 2026		1. Earned income: • Salary: Won 254 million • Bonus: Won 690 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: — 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: • Gains from exercise of stock options: — • Other share-based compensation: —
		Year ended December 31, 2025		1. Earned income: • Salary: Won 495 million • Bonus: Won 694 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 1 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: • Gains from exercise of stock options: — • Other share-based compensation: —

55

Name		Fiscal Year		Composition
		Year ended December 31, 2024		1. Earned income: • Salary: Won 516 million • Bonus: Won 561 million • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: — 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: • Gains from exercise of stock options: — • Other share-based compensation: —
Myung Jin Han		Six months ended June 30, 2026		1. Earned income: • Salary: Won 500 million • Bonus: — • Gains from exercise of stock options: Won 130 million • Other share-based compensation: Won 123 million • Other earned income: Won 4 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: • Gains from exercise of stock options: Unexercised stock options • 2022 stock option grant - Unexercised: 11,274 shares / Exercise price: Won 56,860 • Other share-based compensation: —
		Year ended December 31, 2025		1. Earned income: • Salary: Won 167 million • Bonus: — • Gains from exercise of stock options: — • Other share-based compensation: — • Other earned income: Won 5 million 2. Retirement income: — 3. Other income: — 4. Compensation not included in total compensation: • Gains from exercise of stock options: Unexercised stock options • 2021 stock option grant - Unexercised: 4,403 shares / Exercise price: Won 50,276 • 2022 stock option grant - Unexercised: 11,274 shares / Exercise price: Won 56,860 • Other share-based compensation: Unrealized share-based compensation • 2023 PSU grant - Undelivered: 2,400 PSUs / Market value: Won 128 million

* Closing prices as of the end of each fiscal year: Won 55,200 as of December 30, 2024, Won 53,500 as of December 30, 2025 and Won 88,400 as of June 30, 2026.

4. Stock Options Granted and Exercised

A. Stock Options Granted to Directors and Auditors

(As of June 30, 2026)				(Unit: in persons and Won)
Classification		Number of Directors		Fair Value of Stock Options		Remarks
Executive Directors (Excluding Independent Directors and Audit Committee Members)		3		4,279,632,936		Myung Jin Han, Poong Young Yoon, Young Sang Ryu
Independent Directors (Excluding Audit Committee Members)		—		—		—
Audit Committee Members		—		—		—
Executives		10		3,608,966,704		—
Total		13		7,888,599,640		—

56

B. Stock Options Granted and Exercised

(As of June 30, 2026)														(Unit: in Won and shares)
Grantee		Relationship with the Company		Date of Grant		Method of Grant		Initially Granted		Changes during Reporting Period				Total Changes				Unexercised as of End of Reporting Period		Exercise Period		Exercise Price
										Exercised		Canceled		Exercised		Canceled
Myung Jin Han		Registered Officer		March 25, 2021		Issuance of treasury shares, cash settlement		4,403		4,403		—		4,403		—		—		March 26, 2023 – March 25, 2026		50,276
Myung Jin Han		Registered Officer		March 25, 2022		Issuance of treasury shares, cash settlement		11,274		—		—		—		—		11,274		March 26, 2024 – March 25, 2027		56,860
Poong Young Yoon		Registered Officer		March 26, 2020		Issuance of treasury shares, cash settlement		5,293		—		—		—		—		5,293		March 27, 2023 – March 26, 2027		38,452
Poong Young Yoon		Registered Officer		March 25, 2021		Issuance of treasury shares, cash settlement		10,203		10,203		—		10,203		—		—		March 26, 2023 – March 25, 2026		50,276
Young Sang Ryu		Unregistered Officer		March 26, 2019		Issuance of treasury shares, cash settlement		5,265		—		—		5,265		—		—		March 27, 2023 – March 26, 2027		38,452
Young Sang Ryu		Unregistered Officer		March 26, 2020		Issuance of treasury shares, cash settlement		7,145		—		—		—		—		7,145		March 27, 2023 – March 26, 2027		38,452
Young Sang Ryu		Unregistered Officer		March 25, 2021		Issuance of treasury shares, cash settlement		18,190		18,190		—		18,190		—		—		March 26, 2023 – March 25, 2026		50,276
Young Sang Ryu		Unregistered Officer		March 25, 2022		Issuance of treasury shares, cash settlement		295,275		—		—		—		196,850		98,425		March 26, 2025 – March 25, 2029		56,860
Hee Sup Kim		Unregistered Officer		March 25, 2022		Issuance of treasury shares, cash settlement		7,086		—		—		—		—		7,086		March 26, 2024 – March 25, 2027		56,860
Jae Seung Song		Officer of Affiliate		March 25, 2021		Issuance of treasury shares, cash settlement		8,047		8,047		—		8,047		—		—		March 26, 2023 – March 25, 2026		50,276

57

(As of June 30, 2026)														(Unit: in Won and shares)
Grantee		Relationship with the Company		Date of Grant		Method of Grant		Initially Granted		Changes during Reporting Period				Total Changes				Unexercised as of End of Reporting Period		Exercise Period		Exercise Price
										Exercised		Canceled		Exercised		Canceled
Byung Hoon Ryu		Officer of Affiliate		March 25, 2021		Issuance of treasury shares, cash settlement		3,796		3,796		—		3,796		—		—		March 26, 2023 – March 25, 2026		50,276
Jong Ryeol Kang and three others		Other		March 26, 2020		Issuance of treasury shares, cash settlement		20,509		6,219		—		6,219		—		14,290		March 27, 2023 – March 26, 2027		38,452
Jong Ryeol Kang and three others		Other		March 25, 2021		Issuance of treasury shares, cash settlement		27,087		27,087		—		27,087		—		—		March 26, 2023 – March 25, 2026		50,276
Jong Ryeol Kang and six others		Other		March 25, 2022		Issuance of treasury shares, cash settlement		78,460		41,230		—		41,230		—		37,230		March 26, 2024 – March 25, 2027		56,860

* The closing price of the Company’s common shares was Won 88,400 as of June 30, 2026.

** The exercise prices of the stock options granted prior to October 28, 2021 have been adjusted to account for the effects of the Stock Split and the Spin-off.

*** Two-thirds of the stock options granted to Young Sang Ryu on March 25, 2022 were canceled and replaced with PSUs.

**** Other: management advisor, management consultant, retired employee.

C. Equity Compensation Plans

(1) PSUs

From 2023 to 2024, the Company granted PSUs to certain of its and its subsidiaries’ directors (including the representative director) and executive officers in order to align management and shareholder interests and further align growth in the Company’s enterprise value with management compensation. Future performance targets were set when entering into the relevant stock compensation agreement, and the final number of shares to be received by each grantee, which would be settled out of the Company’s treasury shares, were determined based on the achievement levels of such targets subject to approval by the Board of Directors.

PSUs ranging between 0% and 100% of a grantee’s annual salary is initially granted, and such units are converted into shares ranging between 0% and 200% of the grantee’s annual salary at the time of the PSU grant after a three-year vesting period based on the rates of increase in the Company’s share price and the KOSPI 200 Index. In consideration of the representative director’s role and importance, additional shares of up to 100% of the representative director’s annual salary at the time of the PSU grant may be granted in recognition of his or her outstanding achievements if the share price increases by more than 100% and such increase has outpaced the increase in the KOSPI 200 Index by more than 50%. The validity of the PSUs is dependent on the grantee meeting a minimum term of incumbency under his or her title until the end of the year in which the PSUs were granted. The number of shares granted is subject to adjustments in cases of certain events including capital increases, stock splits, reverse stock splits and distribution of stock dividends.

(As of June 30, 2026)
Number of grantees			2023			194
			2024			213
Number of PSUs granted			2023			228,708
			2024			243,451
Shares granted in the six months ended June 30, 2026						49,152
Cumulative shares granted as of June 30, 2026						49,152
Remaining shares to be granted						243,451

58

(2) Shareholder Participation Program

From 2021 to 2024, pursuant to Article 342 of the Korean Commercial Code, the Company operated the “Shareholder Participation Program” as equity compensation in order to align management and shareholder interests and strengthen commitment to enhance the Company’s enterprise value.

All of the Company’s employees, including the representative director, are eligible to participate in the Shareholder Participation Program, under which the Company grants treasury shares equal to a portion of a participating employee’s bonus, upon individual application. The grant of treasury shares is subject to resolution by the Board of Directors.

The participating employee must be employed with the Company at the time of actual grant and there is no transfer restriction period. The number of treasury shares granted is subject to adjustments in cases of certain events including capital increases, stock splits, reverse stock splits and distribution of stock dividends.

(As of June 30, 2026)
Number of grantees			2024			1,743
Number of shares granted			2024			498,135
Shares granted in the six months ended June 30, 2026						—
Cumulative shares granted as of June 30, 2026						498,135
Remaining shares to be granted						—

* Based on the three most recent fiscal years.

(3) Stock Grant

Since 2022, the Company has been granting portions of its independent directors’ remuneration in the form of shares in order to align the interests of the Board of Directors and shareholders. The grant of shares is subject to resolution by the Board of Directors.

The number of shares granted, which is in the form of treasury shares, is based on the independent director’s role and responsibility and the Company’s director compensation payment criteria. Transfer of such shares is restricted for three years following initial receipt. The number of treasury shares granted is subject to adjustments in cases of certain events including capital increases, stock splits, reverse stock splits and distribution of stock dividends.

(As of June 30, 2026)
Number of grantees			2024			5
			2025			5
			2026			5
Number of shares granted			2024			5,477
			2025			4,860
			2026			2,800
Shares granted in the six months ended June 30, 2026						2,800
Cumulative shares granted as of June 30, 2026						13,137
Remaining shares to be granted						—

* Based on the three most recent fiscal years.

59

IX. RELATED PARTY TRANSACTIONS

1. Line of Credit Extended to the Largest Shareholder and Related Parties

None.

2. Transfer of Assets to/from the Largest Shareholder and Related Parties and Other Transactions

None.

See Note 10 of the notes to the Company’s interim consolidated financial statements attached hereto for information relating to acquisitions and dispositions of investments in related parties.

3. Business Transactions with the Largest Shareholder and Related Parties

None.

4. Related Party Transactions

See Note 30 of the notes to the Company’s interim consolidated financial statements attached hereto for information regarding related party transactions.

5. Other Related Party Transactions (excluding Transactions with the Largest Shareholder and Related Parties listed above)

A. Provisional Payment and Loans (including loans on marketable securities)

(As of June 30, 2026)

(Unit: in millions of Won)

Name (Corporate Name)

Relationship

Account Category

Change Details

Accrued Interest

Remarks

Beginning

Increase

Decrease

Ending

Baekmajang and others

Agency

Long-term and short- term loans

61,096

72,493

61,922

71,667

—

—

B. Other Transactions

See Note 31 of the notes to the Company’s interim consolidated financial statements attached hereto for more information regarding other related party transactions relating to pledges and guarantees, sale and purchase of securities and real properties, transfers of business and assets, and long-term supply agreements.

X. OTHER INFORMATION RELATING TO THE PROTECTION OF INVESTORS

1. Developments in the Items Mentioned in Prior Reports on Important Business Matters

None.

2. Contingent Liabilities

A. Legal Proceedings

[SK Telecom]

As of June 30, 2026, the Company is involved in various pending legal proceedings, and the provisions recognized for these proceedings are not material. The management of the Company has determined that there are currently no present obligations in connection with proceedings for which no provision has been recognized. The management has also determined that the outcome of these proceedings will not have a significant impact on the Company’s financial position and operating performance.

60

[SK Broadband]

As of June 30, 2026, SK Broadband is involved in 26 legal proceedings as the defendant (with an aggregate amount in dispute of Won 28,020 million) and has recognized provisions of Won 3,000 million in connection with such proceedings.

B. Other Contingent Liabilities and Guarantees for Payment

[SK Telecom]

None.

See Note 31 of the notes to the Company’s interim consolidated financial statements attached hereto for more information regarding other contingent liabilities.

[SK Broadband]

As of June 30, 2026, SK Broadband has entered into revolving credit facilities with a limit of Won 176.0 billion with two financial institutions including Hana Bank in relation to its loans.

In connection with public offerings of notes, SK Broadband is subject to certain restrictions with respect to its debt ratio, third party payment guarantees and other limitations on liens.

SK Broadband has provided “geun” mortgage amounting to Won 1,198 million on certain of its buildings, including Gyeyang Guksa, in connection with leasing of such buildings.

SK Broadband has entered into a leased line contract and a resale contract for fixed-line telecommunications services with SK Telecom.

SK Broadband has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guarantee Details		Guaranteed Amount
Seoul Guarantee Insurance Company		Contract and defect performance guarantee			23,879
Korea Content Financial Cooperative		Contract performance guarantee			67,749
Information and Communication Financial Cooperative		Contract and subcontract payment guarantee			10,762

SK Broadband has entered into a capital commitment of Won 10.0 billion (25% ownership interest) with the Solaire IPTV Video Investment Fund. SK Broadband plans to contribute an aggregate of Won 10.0 billion within 2026, including an initial contribution of Won 4.0 billion upon establishment in January 2026.

[PS&Marketing]

As of June 30, 2026, PS&Marketing has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Seoul Guarantee Insurance Company			1,239			Performance guarantee

[SK Telink]

As of June 30, 2026, SK Telink provided the following material payment guarantees to other parties.

(Unit: in millions of Won)
Guarantor		Counterparty		Guaranteed Amount				Guarantee Details
SK Telink		Korea Coast Guard and others			1,516				Contract guarantees, etc.

61

As of June 30, 2026, SK Telink has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Seoul Guarantee Insurance Company			958			Contract guarantees, etc.

[Home&Service]

As of June 30, 2026, Home&Service has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Seoul Guarantee Insurance Company			39			Payment guarantees, etc.

As of June 30, 2026, Home&Service has entered into the following credit facilities with financial institutions.

(Unit: in millions of Won)
Financial Institution		Credit Limit		Details
Shinhan Bank		6,000			Revolving credit

[SK O&S]

As of June 30, 2026, SK O&S has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Seoul Guarantee Insurance Company			50,000			Contract performance guarantee

[SK Stoa]

As of June 30, 2026, SK Stoa has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Kookmin Bank			1,200			Performance guarantees, etc.

[Service Ace Co., Ltd. (“Service Ace”)]

As of June 30, 2026, Service Ace has been provided with the following material payment guarantees by other parties.

(Unit: in millions of Won)
Guarantor		Guaranteed Amount				Guarantee Details
Seoul Guarantee Insurance Company			33			Payment guarantees, etc.

3. Status of Sanctions, etc.

[SK Telecom]

A. Sanctions by Investigative or Juridical Agencies

None.

B. Sanctions by Administrative Agencies

(1) Sanctions by Financial Supervisory Authorities

None.

62

(2) Sanctions by the Korea Fair Trade Commission (the “KFTC”)

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

Jan. 26, 2024

KFTC

SK Telecom

Decision of KFTC Meeting (No. 2024-031) -  Correctional order (prohibition order against future actions) -  Fine of Won 1,428 million

Collusion by four companies including SK Telecom and its subsidiary SK O&S in the bidding price or standard price during negotiations on costs for renting locations that house their base stations (Former Article 19-1(1) of the MRFTA)

Decision confirmed; payment of fine completed

Strengthen compliance activities, including collusion prevention training

Jun. 25, 2025

KFTC

SK Telecom

Decision of KFTC Meeting (No. 2025-135) -  Correctional order (prohibition order against future actions) -  Fine of Won 38,806 million

Collusion by three telecommunications companies in jointly adjusting sales incentive levels to discourage net changes in customer activation data from disproportionately favoring any particular operator (Article 40-1(3) of the MRFTA)

Payment of fine completed; administrative appeal and other appeal procedures are expected

Strengthen compliance activities, including training on response measures related to administrative agency directives/involvement

(3) Sanctions by Tax Authorities

None.

(4) Sanctions by Other Administrative or Public Institutions

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

May 22, 2024

KCC

SK Telecom

Decision of 26th KCC Meeting of 2024 -  Cessation of violating activities -  Announcement of correctional order -  Improvement of business procedures including strengthening management of broadcasting and telecommunications bundled products, and employee training -  Submission of operating procedures plan and report on compliance with correctional order -  Fine of Won 420 million

False, exaggerated and deceptive advertising during the course of selling Internet and bundled services including advertising products as free and omitting specific conditions of use, which could mislead consumers about important information relating to the bundled products and discounts. (Article 50-1(5) of the Telecommunications Business Act, Article 42-1 of Enforcement Decree and Article 3-1 of Standards for Prohibited Bundled Sales Practices)

Decision confirmed; implementation plan submitted and payment of fine completed

Immediately ceased such activities; improved operating procedures through clarifying responsible personnel, self-monitoring, strengthening of penalties for distributors and employee training

Dec. 19, 2024

MSIT

SK Telecom

Correctional order (resubmission of the business report for FY2023 to MSIT with mandated revisions); Fine of Won 1,263 million

Error in the assets/profits/costs categories of the telecommunications business report for FY2023, the submission of which is mandated by the Telecommunication Account Settlement and Reporting Regulations and Telecommunications Business Accounting Separation Criteria (Article 49, Article 53-2, Article 92-1 of the Telecommunications Business Act)

Submitted the revised business report for FY2023 (Dec. 30, 2024); paid the fine (Jan. 9, 2025)

Improve business procedures to prevent errors

63

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

May 1, 2025

MSIT

SK Telecom

Administrative guidance: urging swift resolution of user inconvenience caused by the cybersecurity breach incident -  Transparent disclosure of information through daily briefings -  Total suspension of new subscriptions of mobile phone services until stabilization of USIM card supply -  Significant expansion of support staff to avoid long wait times for USIM card replacements at airports for travelers departing during the early-May holiday period -  Submission of implementation plan for uniform application of USIM protection service previously offered to certain customer segments -  Proactive explanation of measures to fully compensate for user damages resulting from the hacking incident

Administrative guidance in accordance with the Administrative Procedures Act

-  Posted daily briefings on the SK Telecom’s website -  Suspended new subscriptions of mobile phone services at authorized retail stores (until June 23, 2025), secured sufficient USIM card supply beyond replacement demand, and implemented and stabilized new USIM card replacement reservation system -  Expanded airport roaming center processing capacity and staffing to protect overseas travelers during the holiday period -  Automatically enrolled all customers in the USIM protection service (from May 2, 2025) -  Reiterated policy to fully compensate for user damages resulting from the incident at the second hearing of the National Assembly’s Science, ICT, Broadcasting and Communications Committee (May 8, 2025) -  Announced the Accountability and Commitment Program to rebuild customer trust (Jul. 4, 2025)

Announced the “Information Security Innovation Plan” involving the industry’s largest-scale investment of Won 700 billion over the next five years (Jul. 4, 2025)

64

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

-  Review of requests by consumer groups regarding waiver of termination penalties, compensation for damages and easing of the burden of proof for compensation claims, and implementation of compensation plans for user damages

May 21, 2025

KCC

SK Telecom

Resolution of the 13th Written Meeting of the KCC in 2025 (May 21): administrative guidance on automatic enrollment in the USIM protection service, including in relation to the following matters: -  Revision of terms and conditions related to procedures for confirming user consent -  Guidance on methods and procedures for resolving user inconvenience -  Preparation of emergency response manual -  Submission of related implementation plan and implementation results

Because service providers are required under the Telecommunications Business Act to confirm the user’s intent when entering into a contract, SK Telecom’s automatic enrollment of users in the USIM protection service was not in compliance with the law as it was conducted without an explicit consent process. However, in consideration of the need to prevent cybersecurity threats, administrative guidance measures including the revision of relevant terms and conditions were issued (Article 50-1(5) of the Telecommunications Business Act and Article 42-1 of its Enforcement Decree and related Attached Table 4 5 1), 2))

Submitted implementation plan

Implemented administrative guidance including revision of terms and conditions, user guidance and response manual

65

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

Aug. 27, 2025

Personal Information Protection Commission

SK Telecom

Deliberation and resolution of the Personal Information Protection Commission (No. 2025-018-243) Correctional order -  Enhanced security measures for personal information processing system -  Clarification of responsibilities and roles of the Chief Privacy Officer -  Enhanced management and oversight framework for data processors -  Implementation of the correctional order and submission of implementation results Fine of Won 134,791 million Administrative penalty of Won 9.6 million Public announcement order (details of violation/disposition results) Recommendation for improvement -  Improved level of personal information protection measures across the company’s systems -  Submission of related implementation results

Violated the obligation to implement safety measures -  Inadequate security measures for access control (Article 29 of the Personal Information Protection Act, Article 30-1(3) of its Enforcement Decree and Article 6-1(1) and Article 6-1(2) of the Measures to Secure the Safety of Personal Information) -  Inadequate management of access rights and authentication methods (Article 29 of the Personal Information Protection Act, Article 30-1(2) of its Enforcement Decree and Article 5-5 of the Measures to Secure the Safety of Personal Information) -  Failure to apply security updates and install security programs such as antivirus software (Article 29 of the Personal Information Protection Act, Article 30-1(6) of its Enforcement Decree and Article 9-1(2) of the Measures to Secure the Safety of Personal Information) -  Insufficient encryption measures for USIM authentication key (Ki) (Article 29 of the Personal Information Protection Act, Article 30-1(4) of its Enforcement Decree and Article 7-1 of the Measures to Secure the Safety of Personal Information)

Implemented correctional order and recommendations for improvement and submitted implementation results (Jan. 20, 2026) Public disclosure of facts (Nov. 17, 2025-Nov. 21, 2025) Paid the administrative penalty (Nov. 5, 2025) Paid the fine (Nov. 21, 2025) Filed an administrative appeal seeking cancellation of administrative disposition (Jan. 19, 2026)

Announced the “Information Protection Innovation Plan,” committing a total investment of Won 700 billion over the next five years, the largest amount in the industry (Jul. 4, 2025) Reorganized the integrated security framework and enhanced personal information protection governance Established a dedicated CPO organization following organizational restructuring Enhanced security technologies and system, and doubled the number of information security professionals Implemented security updates and installed security programs, including antivirus software Enhanced incident response systems by incident type Fostered a company-wide “Privacy First” culture

66

Date

Authority

Subject of Action

Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

Failure to designate a Chief Privacy Officer and inadequate performance of related duties (Article 31-3 of the Personal Information Protection Act) Delayed notification of personal data breach (Article 34-1 of the Personal Information Protection Act)

Dec. 30, 2025

MSIT

SK Telecom

Correctional order (resubmission of the business report for FY2024 to MSIT with mandated revisions); Fine of Won 244 million

Error in the assets/profits/costs categories of the telecommunications business report for FY2024, the submission of which is mandated by the Telecommunication Account Settlement and Reporting Regulations and Telecommunications Business Accounting Separation Criteria (Article 49, Article 53-2, Article 92-1 of the Telecommunications Business Act)

Submitted the revised business report for FY2024 (Jan. 12, 2026); paid the fine (Jan. 23, 2026)

Improve business procedures to prevent errors

C. Occurrence of Serious Accidents

None.

[SK Broadband]

A. Sanctions by Investigative or Juridical Agencies

None.

B. Sanctions by Administrative Agencies

(1) Sanctions by Financial Supervisory Authorities

None.

(2) Sanctions by the KFTC

None.

(3) Sanctions by Tax Authorities

None.

67

(4) Sanctions by Other Administrative or Public Institutions

Date

Authority

Subject of Action

Sanction

Amount of Monetary Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

Feb. 27, 2024

KCC; Communication office of the KCC

SK Broadband

Fine of Won 7.5 million

Won 7.5 million

Violated the Act on the Restriction of Transmission of Advertising Information for Commercial Purposes by transmitting advertising while omitting required information (Article 50-4 and 76 of the Act on Promotion of Information and Communications Network Utilization and Information and Article 74 and Attached Table 9 of its Enforcement Decree)

Paid the 20% reduced amount of the fine (Won 6 million)

Improve relevant business procedures

May 22, 2024

KCC

SK Broadband

Correctional order; Fine of Won 314 million

Won 314 million

Violated users’ rights through false, exaggerated and deceptive advertising of broadcasting and telecommunications bundled services (Article 50-1(5) of the Telecommunications Business Act )

Submitted implementation plan; paid the fine

Improve procedures; public announcement of correctional order

Oct. 25, 2024

MSIT

SK Broadband

Fine of Won 15 million

Won 15 million

Violated the obligation to verify false display of phone numbers on private telephone exchanges related to prohibition of false display of phone numbers and user protection (Article 84-2 of the Telecommunications Business Act)

Paid the 20% reduced amount of the fine (Won 12 million)

Improve relevant business procedures

68

Date

Authority

Subject of Action

Sanction

Amount of Monetary Sanction

Reason and the Relevant Law

Status of Implementation

Company’s Measures

Dec. 19, 2024

MSIT

SK Broadband

Correctional order; Fine of Won 82 million

Won 82 million

Correctional order in connection with the telecommunications business report submitted pursuant to Article 49 of the Telecommunications Business Act

Submitted the revised business report for FY2023 (Dec. 31, 2024); paid the fine (Jan. 8, 2025)

Improve relevant business procedures to prevent errors

Apr. 2, 2025

MSIT

SK Broadband

Fine of Won 15 million

Won 15 million

Violated the obligation to block outgoing text messages with falsely displayed phone numbers on private telephone exchanges related to prohibition of false display of phone numbers and user protection (Article 84-2 of the Telecommunications Business Act)

Paid the 20% reduced amount of the fine on Apr. 18 (Won 12 million)

Improve relevant business procedures

Apr. 11, 2025

Central Radio Management Service

SK Broadband

Correctional order

—

Violated conditions for license renewal by failing to comply with the distributions standards for PP program usage fees (Article 99 of the Broadcasting Act)

Complied with the distribution standards for PP program usage fees

Improve relevant business procedures

Jul. 16, 2025

Central Radio Management Service

SK Broadband

Correctional order

—

Violated audio level standards for seven cable TV digital broadcasting programs (Article 70-2 of the Broadcasting Act)

Revised procedures for applying broadcast program audio level standards

Improve procedures for applying audio level standards

Dec. 30, 2025

MSIT

SK Broadband

Correctional order; Fine of Won 78 million

Won 78 million

Correctional order in connection with the telecommunications business report submitted (Article 49 of the Telecommunications Business Act)

Submitted the revised business report for FY2024 (Jan. 7, 2026); paid the fine (Jan. 16, 2026)

Improve relevant business procedures to prevent errors

Mar. 18, 2026

Central Radio Management Service

SK Broadband

Correctional order

—

Violated the obligation to terminate interconnection with the value-added service network of a company whose value-added services business has closed (Article 84-2 of the Telecommunications Business Act)

Submitted report on measures to prevent recurrence (Apr. 20, 2026)

Improve relevant business procedures

69

C. Occurrence of Serious Accidents

None.

4. Material Events Subsequent to the Reporting Period

(1) On July 23, 2026, the Board of Directors approved the quarterly dividend as follows:

Classification		Content
Dividend Amount		Cash dividend of Won 830 per share (Total: Won 176,838 million)
Dividend Return Rate (based on market price)		0.9%
Dividend Record Date		August 31, 2026
Dividend Payment Date		In accordance with Article 165-12(3) of the Financial Investment Services and Capital Markets Act, by September 17, 2026

(2) Following a resolution of the Board of Directors, the Company established SK Hyper Co., Ltd. on July 23, 2026 in order to strengthen competitiveness of the Company’s AI data center business, and resolved to make capital contributions of Won 750 billion in installments through December 2030.

70

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SK Telecom Co., Ltd.

(Registrant)

By: /s/ Taehee Kim

(Signature)

Name:		Taehee Kim
Title:		Vice President

Date: September 16, 2026

SK TELECOM CO., LTD. AND ITS SUBSIDIARIES

Condensed Consolidated Interim Financial Statements

For the six-month periods ended June 30, 2026 and 2025

(With Independent Auditors’ Review Report)

Contents

		Page
Independent Auditors’ Review Report
Condensed Consolidated Interim Financial Statements
Condensed Consolidated Interim Statements of Financial Position			1
Condensed Consolidated Interim Statements of Income			3
Condensed Consolidated Interim Statements of Comprehensive Income			4
Condensed Consolidated Interim Statements of Changes in Equity			5
Condensed Consolidated Interim Statements of Cash Flows			6
Notes to the Condensed Consolidated Interim Financial Statements			8

Independent Auditors’ Review Report

Based on a report originally issued in Korean

To the Board of Directors and Shareholders

SK Telecom Co., Ltd.

Reviewed financial statements

We have reviewed the accompanying condensed consolidated interim financial statements of SK Telecom Co., Ltd. and its subsidiaries (the “Group”), which comprise the condensed consolidated interim statement of financial position as of June 30, 2026, the condensed consolidated interim statements of income and comprehensive income for the three-month and six-month periods ended June 30, 2026 and 2025, the condensed consolidated statements of changes in equity and cash flows for the six-month period ended June 30, 2026 and 2025, and notes, including material accounting policies and other explanatory information.

Management’s responsibility

Management is responsible for the preparation and fair presentation of these condensed consolidated interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No.1034, Interim Financial Reporting, and for such internal controls as management determines is necessary to enable the preparation of condensed consolidated interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ review responsibility

Our responsibility is to issue a report on these condensed consolidated interim financial statements based on our reviews.

We conducted our reviews in accordance with the Review Standards for Quarterly and Semiannual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements referred to above do not present fairly, in all material respects, in accordance with K-IFRS No.1034, Interim Financial Reporting.

Other matters

The consolidated statement of financial position of the Group as of December 31, 2025, and the related consolidated statements of income, comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, were audited by us in accordance with Korean Standards on Auditing and our report thereon, dated March 10, 2026, expressed an unqualified opinion. The accompanying consolidated statement of financial position of the Group as of December 31, 2025, presented for comparative purposes, is not different from that audited by us from which it was derived in all material respects.

The procedures and practices utilized in the Republic of Korea to review such condensed consolidated interim financial statements may differ from those generally accepted and applied in other countries.

KPMG Samjong Accounting Corp.

Seoul, Korea

August 12, 2026

This report is effective as of August 12, 2026, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that the above review report has not been updated to reflect the impact of such subsequent events or circumstances, if any.

SK TELECOM CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2026 AND DECEMBER 31, 2025 AND

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025

The accompanying condensed consolidated interim financial statements, including all footnote disclosures, have been prepared by, and are the responsibility of, the Group.

Jung, Jaihun

Chief Executive Officer

SK TELECOM CO., LTD.

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Financial Position

As of June 30, 2026 and December 31, 2025

(In millions of won)		Note				June 30, 2026				December 31, 2025
Assets
Current Assets:
Cash and cash equivalents			28,29			W	1,203,896				1,490,024
Short-term investment securities			9,28,29				33,102				35,217
Short-term financial instruments			28,29				799,534				151,426
Accounts receivable – trade, net			5,28,29,30				2,025,065				1,918,502
Short-term loans, net			5,28,29				80,335				69,664
Accounts receivable – other, net			5,28,29,30,31				321,287				346,326
Contract assets			7,29				154,188				124,831
Prepaid expenses			6				2,237,177				2,135,763
Prepaid income taxes			26				929				6,217
Derivative financial assets			28,29				7,043				6,945
Inventories, net			8				149,132				167,640
Assets held for sale			34				156,636				143,489
Advanced payments and others			5,28,29				124,306				131,086
							7,292,630				6,727,130
Non-Current Assets:
Long-term financial instruments			28,29				3,458				370
Long-term investment securities			9,28,29				5,847,279				3,188,572
Investments in associates and joint ventures			10				2,356,277				2,238,470
Investment property, net			12				25,875				39,841
Property and equipment, net			11,13,30,31				11,221,896				11,902,173
Goodwill							2,072,493				2,072,493
Intangible assets, net			14				1,370,218				1,710,620
Long-term contract assets			7,29				65,133				63,778
Long-term loans, net			5,28,29				32,330				32,184
Long-term accounts receivable – other, net			5,28,29,30,31				171,355				164,762
Long-term prepaid expenses			6				1,271,428				1,280,751
Guarantee deposits, net			5,28,29,30				156,310				167,823
Long-term derivative financial assets			28,29				413,363				303,201
Defined benefit assets			18				119,152				205,477
Other non-current assets			5,28,29				10,954				10,138
							25,137,521				23,380,653
Total Assets						W	32,430,151				30,107,783

(Continued)

1

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Financial Position, Continued

As of June 30, 2026 and December 31, 2025

(In millions of won)		Note				June 30, 2026				December 31, 2025
Liabilities and Shareholders’ Equity
Current Liabilities:
Accounts payable – trade			28,29,30			W	117,593				110,867
Accounts payable – other			28,29,30				1,087,940				1,576,870
Withholdings			28,29,30				1,077,112				1,011,918
Contract liabilities			7				161,423				207,682
Accrued expenses			28,29				1,274,115				1,345,998
Income tax payable			26				245,869				28,482
Derivative financial liabilities			28,29				6,281				5,782
Short-term borrowings			15,28,29				130,000				130,000
Provisions			17,33				154,590				145,953
Current portion of long-term debt, net			15,28,29				1,060,277				1,122,584
Current portion of long-term payables – other			16,28,29				90,500				368,572
Lease liabilities			28,29,30				387,909				407,959
Liabilities held for sale			34				54,017				67,108
							5,847,626				6,529,775
Non-Current Liabilities:
Debentures, excluding current portion, net			15,28,29				7,282,641				7,294,445
Long-term borrowings, excluding current portion, net			15,28,29				300,000				300,000
Long-term payables – other			16,28,29				90,103				179,389
Long-term lease liabilities			28,29,30				988,324				1,117,839
Long-term contract liabilities			7				275,759				194,261
Long-term derivative financial liabilities			28,29				—				621
Long-term provisions			17				74,823				80,094
Deferred tax liabilities			26				1,976,720				1,363,191
Other non-current liabilities			28,29,30				99,156				92,876
							11,087,526				10,622,716
Total Liabilities							16,935,152				17,152,491
Shareholders’ Equity:
Share capital			1,19				30,493				30,493
Capital surplus and others			19,20				(13,859,497	)			(12,131,340	)
Retained earnings			21				25,220,392				22,938,268
Reserves			22				4,045,241				2,025,682
Equity attributable to owners of the Parent Company							15,436,629				12,863,103
Non-controlling interests							58,370				92,189
Total Shareholders’ Equity							15,494,999				12,955,292
Total Liabilities and Shareholders’ Equity						W	32,430,151				30,107,783

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

2

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Income

For the three-month and six-month periods ended June 30, 2026 and 2025

(In millions of won, except for earnings per share)						2026								2025
		Note				Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Operating revenue:			4,30
Revenue						W	4,359,057				8,751,369				4,338,760				8,792,477
Operating expenses:			30
Labor							620,324				1,254,589				594,214				1,265,815
Commission			6				1,390,823				2,755,797				1,397,600				2,722,688
Depreciation and amortization							840,349				1,686,860				865,244				1,732,435
Network interconnection							152,747				307,138				162,087				325,952
Leased lines							56,549				119,952				67,928				136,131
Advertising							28,679				56,233				34,548				68,472
Rent							7,243				42,117				35,649				71,332
Cost of goods sold			8				265,871				590,954				269,529				597,318
Others			23				430,429				834,095				573,701				966,690
							3,793,014				7,647,735				4,000,500				7,886,833
Operating profit			4				566,043				1,103,634				338,260				905,644
Finance income			4,25				39,626				84,686				41,203				84,904
Finance costs			4,25				(96,870	)			(203,761	)			(142,263	)			(252,963	)
Gain (loss) relating to investments in subsidiaries, associates and joint ventures, net			4,10				46,946				31,815				(5,419	)			(5,287	)
Other non-operating income			4,24				24,609				37,028				22,021				36,245
Other non-operating expenses			4,24				(8,363	)			(15,844	)			(13,411	)			(20,272	)
Profit before income tax			4				571,991				1,037,558				240,391				748,271
Income tax expense			26				106,011				255,163				157,144				303,449
Profit for the period						W	465,980				782,395				83,247				444,822
Attributable to:
Owners of the Parent Company						W	470,623				793,012				89,638				454,060
Non-controlling interests							(4,643	)			(10,617	)			(6,391	)			(9,238	)
Earnings per share:			27
Basic earnings per share (in won)						W	2,186				3,676				398				2,086
Diluted earnings per share (in won)							2,185				3,675				397				2,083

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

3

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Comprehensive Income

For the three-month and six-month periods ended June 30, 2026 and 2025

(In millions of won)						2026								2025
		Note				Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Profit for the period						W	465,980				782,395				83,247				444,822
Other comprehensive income (loss):
Items that will not be reclassified subsequently to profit or loss, net of taxes:
Net change in accumulated other comprehensive income (loss) of investments in associates and joint ventures			10,22				17,739				(18,191	)			(13,578	)			14,530
Remeasurement of defined benefit plans							(2,438	)			(31,060	)			(5,651	)			(27,984	)
Valuation gain on financial assets at fair value through other comprehensive income			22				1,821,704				1,876,841				268,817				243,212
Items that are or may be reclassified subsequently to profit or loss, net of taxes:
Net change in accumulated other comprehensive income (loss) of investments in associates and joint ventures			10,22				(2,808	)			68,131				(72,078	)			(72,324	)
Net change in unrealized fair value of derivatives			22				877				6,584				2,284				6,867
Foreign currency translation differences for foreign operations			22				37,261				92,868				(58,539	)			(59,833	)
Other comprehensive income for the period, net of taxes							1,872,335				1,995,173				121,255				104,468
Total comprehensive income						W	2,338,315				2,777,568				204,502				549,290
Total comprehensive income (loss) attributable to:
Owners of the Parent Company						W	2,342,711				2,788,421				208,552				555,869
Non-controlling interests							(4,396	)			(10,853	)			(4,050	)			(6,579	)

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

4

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Changes in Equity

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)						Attributable to owners of the Parent Company
		Note				Share capital				Capital surplus and others				Retained earnings				Reserves				Sub-total				Non-controlling interests				Total equity
Balance as of January 1, 2025						W	30,493				(11,954,936	)			22,976,127				646,943				11,698,627				129,007				11,827,634
Total comprehensive income (loss):
Profit (loss) for the period							—				—				454,060				—				454,060				(9,238	)			444,822
Other comprehensive income			10,22				—				—				34,315				67,494				101,809				2,659				104,468
							—				—				488,375				67,494				555,869				(6,579	)			549,290
Transactions with owners:
Annual dividends							—				—				(223,531	)			—				(223,531	)			(1,533	)			(225,064	)
Interim dividends							—				—				(176,775	)			—				(176,775	)			—				(176,775	)
Share option			20				—				(1,246	)			—				—				(1,246	)			—				(1,246	)
Interest on hybrid bonds							—				—				(9,900	)			—				(9,900	)			—				(9,900	)
Disposal of treasury shares			19				—				5,316				—				—				5,316				—				5,316
Changes in ownership in subsidiaries, etc.							—				3,538				—				—				3,538				(1,395	)			2,143
							—				7,608				(410,206	)			—				(402,598	)			(2,928	)			(405,526	)
Balance as of June 30, 2025						W	30,493				(11,947,328	)			23,054,296				714,437				11,851,898				119,500				11,971,398
Balance as of January 1, 2026						W	30,493				(12,131,340	)			22,938,268				2,025,682				12,863,103				92,189				12,955,292
Total comprehensive income (loss):
Profit (loss) for the period							—				—				793,012				—				793,012				(10,617	)			782,395
Other comprehensive income (loss)			10,22				—				—				(24,150	)			2,019,559				1,995,409				(236	)			1,995,173
							—				—				768,862				2,019,559				2,788,421				(10,853	)			2,777,568
Transactions with owners:
Interim dividends							—				—				(176,838	)			—				(176,838	)			—				(176,838	)
Transfer from paid-in surplus to retained earnings							—				(1,700,000	)			1,700,000				—				—				—				—
Share-based payment transactions			20				—				(8,150	)			—				—				(8,150	)			—				(8,150	)
Interest on hybrid bonds							—				—				(9,900	)			—				(9,900	)			—				(9,900	)
Disposal of treasury shares			19				—				3,029				—				—				3,029				—				3,029
Changes in ownership in subsidiaries, etc.							—				(23,036	)			—				—				(23,036	)			(22,966	)			(46,002	)
							—				(1,728,157	)			1,513,262				—				(214,895	)			(22,966	)			(237,861	)
Balance as of June 30, 2026						W	30,493				(13,859,497	)			25,220,392				4,045,241				15,436,629				58,370				15,494,999

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

5

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Cash Flows

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)		Note				2026				2025
Cash flows from operating activities:
Cash generated from operating activities:
Profit for the period						W	782,395				444,822
Adjustments for income and expenses			32				2,170,144				2,351,448
Changes in assets and liabilities related to operating activities			32				(533,188	)			326,354
							2,419,351				3,122,624
Interest received							21,317				29,840
Dividends received							37,271				34,011
Interest paid							(175,723	)			(195,853	)
Income tax paid							(30,567	)			(334,133	)
Net cash provided by operating activities							2,271,649				2,656,489
Cash flows from investing activities:
Cash inflows from investing activities:
Decrease in short-term financial instruments, net							—				150,512
Proceeds from disposals of short-term investment securities							72,643				42,344
Collection of short-term loans							67,671				39,229
Proceeds from disposals of long-term investment securities							24,635				401,628
Proceeds from disposals of investments in associates and joint ventures							10,340				18,504
Proceeds from disposals of property and equipment							10,319				7,186
Proceeds from disposals of intangible assets							9,262				6,395
Proceeds from disposals of investment property							11,842				—
Proceeds from disposals of assets held for sale							52				—
Collection of long-term loans							1,791				1,245
Decrease in deposits							2,941				5,683
Proceeds from settlement of derivatives							386				2,336
Proceeds from disposals of subsidiaries, net of cash transferred							77				40,423
							211,959				715,485
Cash outflows for investing activities:
Increase in short-term financial instruments, net							(637,781	)			—
Increase in long-term financial instruments							(3,088	)			—
Increase in short-term loans							(74,512	)			(62,852	)
Increase in long-term loans							(5,609	)			(7,096	)
Acquisitions of short-term investment securities							(70,000	)			(70,000	)
Acquisitions of long-term investment securities							(149,155	)			(15,876	)
Acquisitions of investments in associates and joint ventures							(4,780	)			(1,006	)
Acquisitions of property and equipment							(809,967	)			(835,940	)
Acquisitions of intangible assets							(31,233	)			(40,059	)
Increase in deposits							(2,423	)			(14,455	)
							(1,788,548	)			(1,047,284	)
Net cash used in investing activities						W	(1,576,589	)			(331,799	)

(Continued)

6

SK TELECOM CO., LTD. and its Subsidiaries

Condensed Consolidated Interim Statements of Cash Flows, Continued

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)		Note				2026				2025
Cash flows from financing activities:
Cash inflows from financing activities:
Proceeds from issuance of debentures						W	398,258				1,566,498
Cash inflows from settlement of derivatives							—				52,859
Transactions with non-controlling shareholders							—				19
							398,258				1,619,376
Cash outflows for financing activities:
Repayments of long-term payables – other							(369,150	)			(369,150	)
Repayments of debentures							(580,000	)			(1,241,760	)
Repayments of long-term borrowings							(3,125	)			(206,250	)
Payments of dividends							(176,821	)			(451,611	)
Payments of interest on hybrid bonds							(9,900	)			(9,900	)
Repayments of lease liabilities							(192,804	)			(175,350	)
Cash outflow from transactions with the non-controlling shareholders							(46,096	)			(1,145,870	)
							(1,377,896	)			(3,599,891	)
Net cash used in financing activities							(979,638	)			(1,980,515	)
Net increase (decrease) in cash and cash equivalents							(284,578	)			344,175
Cash and cash equivalents at beginning of the period							1,490,024				2,023,721
Effects of exchange rate changes on cash and cash equivalents							8,227				(14,737	)
Cash and cash equivalents included in assets held for sale							(9,777	)			—
Cash and cash equivalents at end of the period						W	1,203,896				2,353,159

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

7

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

1. Reporting Entity

(1) General

SK Telecom Co., Ltd. (the “Parent Company”) was incorporated on March 29, 1984, under the laws of the Republic of Korea (“Korea”) to provide cellular telephone communication services in Korea. The head office of the Parent Company is located at 65, Eulji-ro, Jung-gu, Seoul, Korea.

The Parent Company’s common shares are listed on the Stock Market of Korea Exchange, and its depositary receipts (DRs) are listed on the New York Stock Exchange. As of June 30, 2026, the Parent Company’s total issued shares are held by the following shareholders:

		Number of shares				Percentage of total shares issued (%)
SK Inc.			65,668,397				30.57
National Pension Service			17,229,917				8.02
Institutional investors and other shareholders			116,034,738				54.02
Wellington Management Company LLP			10,278,372				4.79
Kakao Investment Co., Ltd.			3,846,487				1.79
Treasury shares			1,732,142				0.81
			214,790,053				100.00

These condensed consolidated interim financial statements comprise the Parent Company and its subsidiaries (collectively referred to as the “Group”).

8

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

1. Reporting Entity, Continued

(2) List of consolidated subsidiaries

List of consolidated subsidiaries as of June 30, 2026 and December 31, 2025 is as follows:

Ownership (%)(*1)

Subsidiary

Location

Primary business

Jun. 30, 2026

Dec. 31, 2025

Subsidiaries owned by the Parent Company

SK Telink Co., Ltd.

Korea

International telecommunication and Mobile Virtual Network Operator Service

100.0

100.0

SK Broadband Co., Ltd.(*2)

Korea

Fixed-line telecommunication services

100.0

99.1

PS&Marketing Corporation

Korea

Communications device retail business

100.0

100.0

SERVICE ACE Co., Ltd.

Korea

Call center management service

100.0

100.0

SERVICE TOP Co., Ltd.

Korea

Call center management service

100.0

100.0

SK O&S Co., Ltd.

Korea

Base station maintenance service

100.0

100.0

SK Telecom China Holdings Co., Ltd.

China

Investment (Holdings company)

100.0

100.0

Atlas Investment

Cayman Islands

Investment

100.0

100.0

SK Telecom Americas, Inc.

USA

Information gathering and consulting

100.0

100.0

Happy Hanool Co., Ltd.

Korea

Service

100.0

100.0

SK stoa Co., Ltd.

Korea

Other telecommunication retail business

100.0

100.0

SAPEON Inc.

USA

Investment (Holdings company)

62.5

62.5

Astra AI Infra LLC

USA

Investment

100.0

100.0

Subsidiaries owned by SK Broadband Co., Ltd.

Home & Service Co., Ltd.

Korea

Operation of information and communication facility

100.0

100.0

Media S Co., Ltd.

Korea

Production and supply services of broadcasting programs

100.0

100.0

Subsidiary owned by SK Telecom Americas, Inc.

Global AI Platform Corporation

USA

Software development and supply business

100.0

100.0

Subsidiary owned by Global AI Platform Corporation

Global AI Platform Corporation Korea(*3)

Korea

Software development and supply business

—

100.0

Subsidiary owned by Atlas Investment

Forest AI Investment

Cayman Islands

Investment

100.0

100.0

Other(*4)

SK Telecom Innovation Fund, L.P.

USA

Investment

100.0

100.0

(*1) The ownership interest represents direct ownership interest in subsidiaries either by the Parent Company or subsidiaries of the Parent Company.

(*2) The Parent Company acquired 3,039,090 common shares of SK Broadband Co., Ltd. through a small-scale and simplified share swap for the six-month period ended June 30, 2026. As a result, the Parent Company’s ownership interest in SK Broadband Co., Ltd. increased from 99.1% to 100.0%.

(*3) Details of changes in the consolidation scope for the six-month period ended June 30, 2026 are presented in note 1-(4).

(*4) Other is owned by Atlas Investment and another subsidiary of the Parent Company.

9

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

1. Reporting Entity, Continued

(3) Condensed financial information of subsidiaries

1) Condensed financial information of significant consolidated subsidiaries as of and for the six-month period ended June 30, 2026 is as follows:

(In millions of won)
		As of June 30, 2026												For the six-month period ended June 30, 2026
Subsidiary		Total assets				Total liabilities				Total equity				Revenue				Profit (loss)
SK Telink Co., Ltd.		W	160,589				65,737				94,852				150,029				4,907
SK Broadband Co., Ltd.			7,391,462				4,423,060				2,968,402				2,316,037				161,018
PS&Marketing Corporation			455,865				205,548				250,317				678,772				6,718
SERVICE ACE Co., Ltd.			84,256				59,685				24,571				89,556				1,825
SERVICE TOP Co., Ltd.			62,533				39,267				23,266				72,937				1,004
SK O&S Co., Ltd.			105,142				72,709				32,433				155,375				(397	)
Home & Service Co., Ltd.			142,403				101,639				40,764				248,910				2,085
SK stoa Co., Ltd.			129,138				53,846				75,292				144,699				8,169

2) Condensed financial information of significant consolidated subsidiaries as of December 31, 2025 and for the six-month period ended June 30, 2025 is as follows:

(In millions of won)
		As of December 31, 2025												For the six-month period ended June 30, 2025
Subsidiary		Total assets				Total liabilities				Total equity				Revenue				Profit (loss)
SK Telink Co., Ltd.		W	205,972				62,038				143,934				180,075				8,859
SK Broadband Co., Ltd.			6,824,041				4,011,668				2,812,373				2,236,616				123,687
PS&Marketing Corporation			454,512				210,013				244,499				641,340				4,928
SERVICE ACE Co., Ltd.			97,050				68,222				28,828				95,763				2,064
SERVICE TOP Co., Ltd.			69,385				46,453				22,932				79,433				2,205
SK O&S Co., Ltd.			124,327				87,023				37,304				162,282				757
Home & Service Co., Ltd.			148,382				110,021				38,361				250,427				1,263
SK stoa Co., Ltd.			134,596				67,405				67,191				157,056				7,311
SK m&service Co., Ltd.(*)			—				—				—				46,240				(4,407	)

(*) The condensed financial information of SK m&service Co., Ltd. represents the financial information up to the date of disposal.

(4) Changes in subsidiaries

Details of subsidiary that was excluded from consolidation scope during the six-month period ended June 30, 2026 are as follows:

Subsidiary		Reason
Global AI Platform Corporation Korea		Liquidation

10

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

2. Basis of Preparation

(1) Statement of compliance

These condensed consolidated interim financial statements were prepared in accordance with Korean International Financial Reporting Standard (“KIFRS”) 1034 Interim Financial Reporting as part of the period covered by the Group’s KIFRS annual financial statements. These condensed consolidated interim financial statements do not include all of the disclosures required for full annual financial statements. Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in financial position and performance of the Group since December 31, 2025. The accompanying condensed consolidated interim financial statements have been translated into English from the Korean language financial statements.

(2) Use of estimates and judgments

1) Critical judgments, assumptions and estimation uncertainties

The preparation of the condensed consolidated interim financial statements in conformity with KIFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

In preparing these condensed consolidated interim financial statements, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as of and for the year ended December 31, 2025.

11

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

2. Basis of Preparation, Continued

(2) Use of estimates and judgments, Continued

2) Fair value measurement

The Group’s accounting policies and disclosures require the measurement of fair values, for both a number of financial and non-financial assets and liabilities. The Group has established policies and processes with respect to the measurement of fair values, including Level 3 fair values, and the measurement of fair values is reviewed and directly reported to the finance executives.

The Group regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the Group assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of KIFRS, including the level in the fair value hierarchy in which such valuations should be classified.

When measuring the fair value of an asset or a liability, the Group uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;

• Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Group recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

The information about assumptions used for fair value measurements is included in note 29.

12

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

3. Material Accounting Policies

The material accounting policies applied by the Group in these condensed consolidated interim financial statements are the same as those applied by the Group in its consolidated financial statements as of and for the year ended December 31, 2025, except for the adoption of new and revised KIFRS applied from January 1, 2026, which are summarized below.

(1) New and amended standards and interpretations applied by the Group

The Group has applied the following new and amended standards and interpretations for annual period beginning on January 1, 2026. The following amended KIFRS standards are effective from January 1, 2026 and they did not have a material impact on the Group’s condensed consolidated interim financial statements.

- Classification and measurement of financial instruments (Amendments to KIFRS 1109 ‘Financial Instruments’ and KIFRS 1107 ‘Financial Instruments: Disclosures’)

- Contracts referencing nature-dependent electricity (Amendments to KIFRS 1109 ‘Financial Instruments’ and KIFRS 1107 ‘Financial Instruments: Disclosures’)

- Annual Improvements to KIFRS - Volume 11

(2) New and amended standards and interpretations that are issued, but not yet applied by the Group

The new and amended standard and interpretation that is issued, but not yet effective is disclosed below.

- KIFRS 1118 ‘Presentation and Disclosure in Financial Statements’

KIFRS 1118 ‘Presentation and Disclosure in Financial Statements’ replaces KIFRS 1001 ‘Presentation of Financial Statements’. KIFRS 1118 is expected to enhance comparability of financial performance among similar entities by providing useful information to users in analyzing and comparing an entity’s financial performance, with a focus on the statement of profit or loss.

KIFRS 1118 shall be applied for annual periods beginning on or after January 1, 2027, and earlier application is permitted. An entity shall apply this standard retrospectively in accordance with KIFRS 1008 ‘Accounting Policies, Changes in Accounting Estimates and Errors’. Accordingly, comparative information for the annual period ended December 31, 2026 will be restated in accordance with KIFRS 1118.

The Group is currently analyzing the key accounting policies that are expected to result in significant differences from those applied in the current financial statements upon adoption of KIFRS 1118.

13

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

4. Operating Segments

The Group’s operating segments have been identified to be each business unit, by which the Group provides different services and sells merchandise. The Group’s reportable segments include: cellular services, which mainly include cellular voice service, wireless data service and wireless internet services; fixed-line telecommunication services, which mainly include telephone services, internet services, and leased line services; and all other businesses, which include providing shopping channel and digital platform for selling products and other immaterial operations, each of which does not meet the quantitative threshold to be considered as a reportable segment and are presented collectively as others.

(1) Segment information for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended June 30, 2026
		Cellular services				Fixed-line telecommunication services				Others				Sub-total				Elimination				Total
Total revenue		W	7,219,471				2,722,416				153,127				10,095,014				(1,343,645	)			8,751,369
Inter-segment revenue			722,006				615,424				6,215				1,343,645				(1,343,645	)			—
External revenue			6,497,465				2,106,992				146,912				8,751,369				—				8,751,369
Operating profit			847,784				253,686				5,188				1,106,658				(3,024	)			1,103,634
Finance income (costs), net																							(119,075	)
Gain relating to investments in associates and joint ventures, net																							31,815
Other non-operating income (expense), net																							21,184
Profit before income tax																							1,037,558

(In millions of won)
		For the six-month period ended June 30, 2025
		Cellular services				Fixed-line telecommunication services				Others				Sub-total				Elimination				Total
Total revenue		W	7,281,393				2,675,810				218,490				10,175,693				(1,383,216	)			8,792,477
Inter-segment revenue			762,650				599,406				21,160				1,383,216				(1,383,216	)			—
External revenue			6,518,743				2,076,404				197,330				8,792,477				—				8,792,477
Operating profit (loss)			741,654				202,059				(11,724	)			931,989				(26,345	)			905,644
Finance income (costs), net																							(168,059	)
Loss relating to investments in subsidiaries, associates and joint ventures, net																							(5,287	)
Other non-operating income (expense), net																							15,973
Profit before income tax																							748,271

14

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

4. Operating Segments, Continued

(1) Segment information for the six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

The Group principally operates its businesses in Korea, and substantially all of its operations are conducted in Korea, with activities outside Korea being immaterial. Therefore, no entity-wide geographical information is presented.

No single customer contributed 10% or more to the Group’s total revenue for the six-month period ended June 30, 2026 and for the year ended December 31, 2025.

(2) Disaggregation of operating revenues considering the economic factors that affect the nature, amounts, timing and uncertainty of the Group’s revenue and future cash flows is as follows:

(In millions of won)				For the six-month period ended
				June 30, 2026				June 30, 2025
Goods and Services transferred at a point in time:
Cellular revenue		Goods and others(*1)		W	529,130				479,866
Fixed-line telecommunication revenue		Goods and others			47,450				38,817
Other revenue		Others(*2)			144,625				169,491
					721,205				688,174
Goods and Services transferred over time:
Cellular revenue		Wireless service(*3)			5,005,957				5,163,580
		Cellular interconnection			177,290				185,867
		Other(*4)			785,088				689,430
Fixed-line telecommunication revenue		Fixed-line service			68,555				76,476
		Cellular interconnection			6,819				6,386
		Internet Protocol Television(*5)			905,069				915,367
		International calls			80,493				103,639
		Internet service and miscellaneous(*6)			998,606				935,719
Other revenue		Miscellaneous			2,287				27,839
					8,030,164				8,104,303
				W	8,751,369				8,792,477

15

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

4. Operating Segments, Continued

(2) Disaggregation of operating revenues considering the economic factors that affect the nature, amounts, timing and uncertainty of the Group’s revenue and future cash flows is as follows, Continued:

(*1) Cellular revenue includes revenue from sales of handsets and other electronic accessories.

(*2) Other revenue includes revenue from considerations received for providing data-broadcasting channel and broadcasting services for product sale programs, as well as revenue from the sale of goods through data-broadcasting channel.

(*3) Wireless service revenue includes revenue from wireless voice and data transmission services, which is collected from the wireless subscribers.

(*4) Other revenue includes revenue from billing and collection services, solution services, and other miscellaneous services.

(*5) Internet Protocol Television (“IPTV”) service revenue includes revenue from IPTV services principally derived from usage charges to IPTV subscribers.

(*6) Internet service and miscellaneous revenue includes revenue from high speed broadband internet service principally derived from usage charges to subscribers as well as other miscellaneous services.

16

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

5. Trade and Other Receivables

(1) Details of trade and other receivables as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)		June 30, 2026
		Gross amount				Loss allowance				Carrying amount
Current assets:
Accounts receivable – trade		W	2,295,515				(270,450	)			2,025,065
Short-term loans			81,049				(714	)			80,335
Accounts receivable – other(*)			338,748				(17,461	)			321,287
Accrued income			2,942				—				2,942
Guarantee deposits (Other current assets)			99,548				—				99,548
			2,817,802				(288,625	)			2,529,177
Non-current assets:
Long-term loans			51,576				(19,246	)			32,330
Long-term accounts receivable – other			171,355				—				171,355
Guarantee deposits			156,310				—				156,310
Long-term accounts receivable – trade (Other non-current assets)			9,025				(2	)			9,023
			388,266				(19,248	)			369,018
		W	3,206,068				(307,873	)			2,898,195

(*) Gross and carrying amounts of accounts receivable – other as of June 30, 2026 include W206,474 million of financial instruments classified as fair value through profit or loss (“FVTPL”).

(In millions of won)		December 31, 2025
		Gross amount				Loss allowance				Carrying amount
Current assets:
Accounts receivable – trade		W	2,185,983				(267,481	)			1,918,502
Short-term loans			70,271				(607	)			69,664
Accounts receivable – other(*)			366,785				(20,459	)			346,326
Accrued income			1,998				—				1,998
Guarantee deposits (Other current assets)			102,396				—				102,396
			2,727,433				(288,547	)			2,438,886
Non-current assets:
Long-term loans			51,431				(19,247	)			32,184
Long-term accounts receivable – other			164,762				—				164,762
Guarantee deposits			167,823				—				167,823
Long-term accounts receivable – trade (Other non-current assets)			8,402				(1	)			8,401
			392,418				(19,248	)			373,170
		W	3,119,851				(307,795	)			2,812,056

(*) Gross and carrying amounts of accounts receivable – other as of December 31, 2025 include W189,963 million of financial instruments classified as fair value through profit or loss (“FVTPL”).

17

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

5. Trade and Other Receivables, Continued

(2) Changes in the loss allowance on trade and other receivables measured at amortized cost for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended June 30, 2026
		Beginning balance				Impairment (reversal)				Write-offs(*)				Collection of receivables previously written- off				Transfer				Ending balance
Accounts receivable – trade		W	267,482				18,005				(18,660	)			3,810				(185	)			270,452
Accounts receivable – other, etc.			40,313				(754	)			(2,362	)			227				(3	)			37,421
		W	307,795				17,251				(21,022	)			4,037				(188	)			307,873

(In millions of won)
		For the six-month period ended June 30, 2025
		Beginning balance				Impairment				Write-offs(*)				Collection of receivables previously written- off				Ending balance
Accounts receivable – trade		W	258,030				19,883				(18,824	)			3,926				263,015
Accounts receivable – other, etc.			67,586				3,312				(2,374	)			303				68,827
		W	325,616				23,195				(21,198	)			4,229				331,842

(*) The Group writes off the trade and other receivables that are determined to be uncollectable due to reasons such as termination of operations or bankruptcy.

(3) The Group applies the practical expedient that allows the Group to estimate the loss allowance for accounts receivable – trade at an amount equal to the lifetime expected credit losses. The expected credit losses include the forward-looking information. To make the assessment, the Group uses its historical credit loss experience over the past three years and classifies the accounts receivable – trade by their credit risk characteristics and days overdue.

Due to the nature of its business, which involves both fixed-line and wireless telecommunications, the Group’s accounts receivables from telecommunications revenue primarily consist of receivables from individual customers. As there are no significant differences in credit terms among customers, there is no material concentration of credit risk.

Receivables related to other revenue mainly consist of receivables from corporate customers. The Group transacts only with corporate customers whose credit risk is assessed as low. In addition, the Group is not exposed to significant credit concentration risk as the Group monitors the credit ratings of these customers on a regular basis and evaluates their creditworthiness accordingly. Although contract assets are subject to the expected credit loss assessment, no significant credit risk has been identified.

18

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

6. Prepaid Expenses

The Group pays commissions to its retail stores and authorized dealers, primarily for wireless and fixed-line telecommunication services based on their performance of attracting new customers and renewing contracts with existing customers. The Group recognizes costs among the commissions that would not have incurred if a contract had not been entered into with a customer as prepaid expenses. These prepaid expenses are amortized on a straight-line basis over the expected customer retention periods.

(1) Details of prepaid expenses as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Current assets:
Incremental costs of obtaining contracts		W	2,147,186				2,061,667
Others			89,991				74,096
		W	2,237,177				2,135,763
Non-current assets:
Incremental costs of obtaining contracts		W	1,200,457				1,208,600
Others			70,971				72,151
		W	1,271,428				1,280,751

(2) Incremental costs of obtaining contracts

Amortization in connection with incremental costs of obtaining contracts recognized as an asset for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Amortization recognized		W	686,744				1,376,570				668,118				1,294,530

19

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

7. Contract Assets and Liabilities

In case of providing both wireless telecommunication services and sales of handsets, the Group allocated the consideration based on relative stand-alone selling prices and recognized unbilled receivables from handset sales as contract assets. The Group recognized receipts in advance for prepaid telecommunications services and solution services, and unearned revenue for customer loyalty programs as contract liabilities.

(1) Details of contract assets and liabilities as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Contract assets		W	219,321				188,609
Contract liabilities:
Wireless service contracts			22,274				21,807
Customer loyalty programs			6,597				5,920
Fixed-line service contracts			368,866				288,421
Others			39,445				85,795
		W	437,182				401,943

(2) Amounts of revenue recognized for the six-month periods ended June 30, 2026 and 2025 related to the contract liabilities carried forward from the prior periods are W105,772 million and W75,541 million, respectively.

8. Inventories

(1) Details of inventories as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026												December 31, 2025
		Acquisition cost				Valuation allowance				Carrying amount				Acquisition cost				Valuation allowance				Carrying amount
Merchandise		W	141,841				(6,948	)			134,893				160,996				(6,942	)			154,054
Supplies			14,239				—				14,239				13,586				—				13,586
		W	156,080				(6,948	)			149,132				174,582				(6,942	)			167,640

(2) Inventories recognized as operating expenses for the six-month periods ended June 30, 2026 and 2025 are W589,828 million and W596,147 million, respectively, which are included in cost of goods sold. In addition, reversal of valuation losses on inventories are included in the cost of goods sold and other operating expenses amount to W556 million and W528 million for the six-month periods ended June 30, 2026 and 2025, respectively. Loss from write-offs included in other operating expenses for the six-month period ended June 30, 2025 are W24 million.

20

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

9. Investment Securities

(1) Details of short-term investment securities as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		Category		June 30, 2026				December 31, 2025
Beneficiary certificates		FVTPL		W	33,102				35,217

(2) Details of long-term investment securities as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		Category		June 30, 2026				December 31, 2025
Equity instruments		FVOCI(*)		W	5,681,237				3,025,988
Debt instruments		FVTPL			166,042				162,584
				W	5,847,279				3,188,572

(*) The Group designated investments in equity instruments that are not held for trading as financial assets at FVOCI.

21

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures

(1) Investments in associates and joint ventures accounted for using the equity method as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)				June 30, 2026								December 31, 2025
		Country		Ownership (%)				Carrying amount				Ownership (%)				Carrying amount
Investments in associates:
SK China Company Ltd.		China			27.3			W	1,115,424				27.3			W	1,045,903
Korea IT Fund(*1)		Korea			63.3				388,241				63.3				370,482
UniSK		China			49.0				30,812				49.0				26,442
SK Technology Innovation Company(*2)		Cayman Islands			49.0				27,193				49.0				33,523
SK MENA Investment B.V.		Netherlands			32.1				7,112				32.1				6,612
SK South East Asia Investment Pte. Ltd.		Singapore			20.0				422,293				20.0				368,776
Citadel Pacific Telecom Holdings, LLC(*3)		USA			15.0				60,123				15.0				55,167
SM Culture & Contents Co., Ltd.		Korea			22.8				29,218				22.8				29,305
Home Choice Corp.(*3)		Korea			17.8				1,107				17.8				2,773
Konan Technology Inc.(*3)		Korea			18.9				3,687				18.9				5,070
CMES Robotics Inc. (Formerly, CMES Inc.)(*3)		Korea			6.5				6,377				6.5				6,999
SK Japan Inc. (Formerly, SK telecom Japan Inc.)		Japan			24.9				3,944				24.9				3,629
Rebellions Inc.(*3)		Korea			14.4				157,184				18.2				187,466
SK m&service Co., Ltd.		Korea			30.0				25,161				30.0				24,551
Start-up Win-Win Fund and others(*3,4)		—			—				72,336				—				65,661
								W	2,350,212							W	2,232,359
Investments in joint ventures:
UTC Kakao-SK Telecom ESG Fund(*5)		Korea			48.2				6,065				48.2				6,111
								W	2,356,277							W	2,238,470

22

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures, Continued

(1) Investments in associates and joint ventures accounted for using the equity method as of June 30, 2026 and December 31, 2025 are as follows, Continued:

(*1) Investment in Korea IT Fund was classified as investment in associates as the Group does not have control over the investee under the contractual agreement with other shareholders.

(*2) The Group received W7,861 million from the paid-in capital reduction of SK Technology Innovation Company for the six-month period ended June 30, 2026, with no change in ownership interest.

(*3) These investments were classified as investments in associates as the Group can exercise significant influence through its right to appoint the members of the board of directors even though the Group has less than 20% of equity interests.

(*4) The Group newly contributed W4,000 million in cash to Solaire IPTV Video Fund for the six-month period ended June 30, 2026.

(*5) This investment was classified as investment in joint venture as the Group has a joint control pursuant to the agreement with the other shareholders.

(2) Market value of investments in listed associates as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026												December 31, 2025
		Market price per share (in won)				Number of shares				Market value				Market price per share (in won)				Number of shares				Market value
SM Culture & Contents Co., Ltd.		W	1,600				22,033,898				35,254				1,330				22,033,898				29,305
Konan Technology Inc.			12,120				2,359,160				28,593				19,710				2,359,160				46,499
CMES Robotics Inc. (Formerly, CMES Inc.)			19,690				763,968				15,043				33,100				763,968				25,287

23

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures, Continued

(3) Reconciliations of financial information of material associates to carrying amounts of investments in associates in the consolidated financial statements as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026
		Net assets				Ownership interests (%)				Net assets attributable to the ownership interests				Cost-book value differentials				Carrying amount
Korea IT Fund		W	613,012				63.3				388,241				—				388,241
SK China Company Ltd.			3,690,190				27.3				1,006,360				109,064				1,115,424
SK South East Asia Investment Pte. Ltd.(*1)			2,111,465				20.0				422,293				—				422,293
Rebellions Inc.(*2,3)			(535,642	)			14.4				(187,994	)			345,178				157,184

(*1) Net assets of the entity represent net assets excluding those attributable to the non-controlling interests.

(*2) Net assets of the entity exclude the goodwill held by Rebellions Inc. at the time the investment in the associate was recognized.

(*3) The ownership interest is based on the number of shares owned by the Parent Company divided by the total shares issued by the investee, and the effective ownership interest applied for the equity method is 35.1% as of June 30, 2026.

24

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures, Continued

(3) Reconciliations of financial information of material associates to carrying amounts of investments in associates in the consolidated financial statements as of June 30, 2026 and December 31, 2025 are as follows, Continued:

(In millions of won)
		December 31, 2025
		Net assets				Ownership interests (%)				Net assets attributable to the ownership interests				Cost-book value differentials				Carrying amount
Korea IT Fund		W	584,972				63.3				370,482				—				370,482
SK China Company Ltd.			3,461,533				27.3				944,111				101,792				1,045,903
SK South East Asia Investment Pte. Ltd.(*1)			1,843,880				20.0				368,776				—				368,776
Rebellions Inc.(*2,3)			(462,479	)			18.2				(163,255	)			350,721				187,466

(*1) Net assets of the entity represent net assets excluding those attributable to the non-controlling interests.

(*2) Net assets of the entity exclude the goodwill held by Rebellions Inc. at the time the investment in the associate was recognized.

(*3) The ownership interest is based on the number of shares owned by the Parent Company divided by the total shares issued by the investee, and the effective ownership interest applied for the equity method is 35.3% as of December 31, 2025.

25

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures, Continued

(4) Changes in investments in associates and joint ventures accounted for using the equity method for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended June 30, 2026
		Beginning balance				Acquisition and disposal				Share of profit (loss)				Other comprehensive income (loss)				Other changes				Ending balance
																									Investments in associates:
																									SK China Company Ltd.		W	1,045,903				—				6,963				62,558				—				1,115,424
Korea IT Fund(*)			370,482				—				31,375				(9,119	)			(4,497	)			388,241
UniSK			26,442				—				1,460				2,910				—				30,812
SK Technology Innovation Company			33,523				(7,754	)			(636	)			2,060				—				27,193
SK MENA Investment B.V.			6,612				—				1				499				—				7,112
SK South East Asia Investment Pte. Ltd.			368,776				—				23,295				30,222				—				422,293
Citadel Pacific Telecom Holdings, LLC			55,167				—				(687	)			5,643				—				60,123
SM Culture & Contents Co., Ltd.			29,305				—				(166	)			79				—				29,218
Home Choice Corp.			2,773				—				(1,590	)			(76	)			—				1,107
Konan Technology Inc.			5,070				—				(1,383	)			—				—				3,687
CMES Robotics Inc. (Formerly, CMES Inc.)			6,999				18				(633	)			(7	)			—				6,377
SK Japan Inc. (Formerly, SK telecom Japan Inc.)			3,629				—				177				138				—				3,944
Rebellions Inc.			187,466				(893	)			(28,369	)			(1,020	)			—				157,184
SK m&service Co., Ltd			24,551				—				870				(260	)			—				25,161
Start-up Win-Win Fund and others			65,661				3,716				2,038				921				—				72,336
			2,232,359				(4,913	)			32,715				94,548				(4,497	)			2,350,212
Investments in joint ventures:
UTC Kakao-SK Telecom ESG Fund			6,111				—				(46	)			—				—				6,065
		W	2,238,470				(4,913	)			32,669				94,548				(4,497	)			2,356,277

(*) Dividends received from the associate are deducted from the carrying amount for the six-month period ended June 30, 2026.

26

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

10. Investments in Associates and Joint Ventures, Continued

(4) Changes in investments in associates and joint ventures accounted for using the equity method for the six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

(In millions of won)		For the six-month period ended June 30, 2025
		Beginning balance				Acquisition and disposal				Share of profit (loss)				Other comprehensive income (loss)				Other changes				Ending balance
																									Investments in associates:
																									SK China Company Ltd.		W	975,443				—				4,318				(54,768	)			—				924,993
Korea IT Fund(*1)			363,138				—				1,501				6,257				(6,939	)			363,957
UniSK			26,031				—				367				(1,579	)			—				24,819
SK Technology Innovation Company			34,516				—				845				(2,710	)			—				32,651
SK MENA Investment B.V.			17,273				—				177				(415	)			(11,041	)			5,994
SK Latin America Investment S.A.			1,357				—				267				49				—				1,673
SK South East Asia Investment Pte. Ltd.			391,572				—				(5,317	)			(35,402	)			—				350,853
Citadel Pacific Telecom Holdings, LLC(*1)			51,780				—				427				(1,584	)			(1,438	)			49,185
SM Culture & Contents Co., Ltd.			39,567				—				(4,037	)			(155	)			—				35,375
Nam Incheon Broadcasting Co., Ltd.(*1)			15,635				—				90				—				(137	)			15,588
Home Choice Corp.			3,238				—				(271	)			—				—				2,967
Konan Technology Inc.			3,575				—				(1,832	)			—				—				1,743
CMES Robotics Inc. (Formerly, CMES Inc.)			4,772				3,418				(784	)			23				—				7,429
SK Japan Inc. (Formerly, SK telecom Japan Inc.)			3,703				—				(144	)			13				—				3,572
Rebellions Inc.			298,327				(3,340	)			(17,342	)			6,899				—				284,544
SK m&service Co., Ltd(*2)			—				—				168				(328	)			23,566				23,406
Start-up Win-Win Fund and others (*1,3,4,5)			102,702				1,006				893				(835	)			(37,905	)			65,861
			2,332,629				1,084				(20,674	)			(84,535	)			(33,894	)			2,194,610
Investments in joint ventures:
UTC Kakao-SK Telecom ESG Fund			9,198				—				(581	)			—				—				8,617
		W	2,341,827				1,084				(21,255	)			(84,535	)			(33,894	)			2,203,227

(*1) Dividends received from the associate are deducted from the carrying amount for the six-month period ended June 30, 2025.

(*2) The Group disposed of a portion of shares in SK m&service Co., Ltd., which was an indirect subsidiary of the Parent Company, for the six-month period ended June 30, 2025, resulting in the reclassification of the remaining shares as an investment in associate as of June 30, 2025.

(*3) The acquisition for the six-month period ended June 30, 2025 includes W1,000 million of investments in AhnLab Blockchain Company.

(*4) The Group exchanged its entire shares in id Quantique SA for shares in IonQ, Inc. and classified the investment in IonQ, Inc. as a financial asset at FVOCI for the six-month period ended June 30, 2025.

(*5) The Group reclassified the entire shares of SK Investment Management Co., Ltd. as assets held for sale as of June 30, 2025.

27

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

11. Property and Equipment

Changes in property and equipment for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	11,902,173				12,617,394
Acquisition			830,626				844,932
Disposal			(100,677	)			(47,894	)
Depreciation			(1,357,387	)			(1,389,404	)
Impairment			—				(359	)
Transfer, etc.(*)			(52,839	)			(103,930	)
Ending balance		W	11,221,896				11,920,739

(*) Transfer and other changes include transfers to intangible assets, transfers to or from investment properties, transfers to assets held for sale, and others.

12. Investment Property

Changes in investment property for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	39,841				26,611
Disposal			(12,714	)			—
Depreciation			(2,438	)			(1,975	)
Transfer(*)			1,186				18,917
Ending balance		W	25,875				43,553

(*) Transfer includes transfers to or from property and equipment, and others.

28

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

13. Leases

(1) Details of the right-of-use assets as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Right-of-use assets:
Land, buildings and structures		W	1,003,019				1,157,029
Others			231,908				215,496
		W	1,234,927				1,372,525

(2) Details of amounts recognized in the condensed consolidated interim statements of income for the six-month periods ended June 30, 2026 and 2025 as a lessee are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Depreciation of right-of-use assets:
Land, buildings and structures		W	173,985				185,310
Others(*)			29,859				31,294
		W	203,844				216,604
Interest expense on lease liabilities		W	21,296				24,455

(*) Others include the amount reclassified as research and development expenses related to the lease contract for research and development facilities.

Expenses related to short-term leases and leases of low-value assets that the Group recognized are immaterial.

29

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

14. Intangible Assets

(1) Changes in intangible assets for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	1,710,620				2,194,871
Acquisition			29,910				38,202
Disposal			(5,243	)			(3,397	)
Amortization			(395,109	)			(400,552	)
Transfer(*)			30,040				86,956
Ending balance		W	1,370,218				1,916,080

(*) Transfer includes transfers from property and equipment, and others.

(2) Details of frequency usage rights as of June 30, 2026 are as follows:

(In millions of won)

Amount

Amortization methods

Commencement of amortization

Completion of amortization

1.8 GHz license

W

44,076

Straight-line basis

Dec. 2021

Dec. 2026

2.6 GHz license

60,700

Sep. 2016

Dec. 2026

2.1 GHz license

33,126

Dec. 2021

Dec. 2026

3.5 GHz license

291,054

Apr. 2019

Nov. 2028

W

428,956

30

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

15. Borrowings and Debentures

(1) Short-term borrowings as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)

Lender

Annual interest rate (%)

Maturity

June 30, 2026

December 31, 2025

Bank of China Ltd.

2.83

Oct. 29, 2026

W

130,000

130,000

(2) Changes in long-term borrowings for the six-month period ended June 30, 2026 are as follows:

(In millions of won)

Lender

Annual interest rate (%)

Maturity

Book value

Current

W

203,125

Non-current

300,000

As of January 1, 2026

503,125

Repayments of long-term borrowings:

Korea Development Bank(*)

1.87

Feb. 10, 2026

(3,125

)

Current

200,000

Non-current

300,000

As of June 30, 2026

W

500,000

(*) The long-term borrowing was repaid by installments on an annual basis from 2022 to 2026 and was fully repaid at maturity during the six-month period ended June 30, 2026.

31

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

15. Borrowings and Debentures, Continued

(3) Changes in debentures for the six-month period ended June 30, 2026 are as follows:

(In millions of won)
		Purpose		Annual interest rate (%)				Maturity				Face value				Book value
Current												W	922,008				919,459
Non-current													7,314,900				7,294,445
As of January 1, 2026													8,236,908				8,213,904
Debentures newly issued:
Unsecured corporate bonds(*1)		Facility fund			3.94				Feb. 12, 2031				210,000				209,154
Unsecured corporate bonds(*1)		Facility fund			4.21				Feb. 12, 2036				30,000				29,819
Unsecured corporate bonds(*1)		Facility fund			4.57				Jun. 12, 2031				130,000				129,602
Unsecured corporate bonds(*1)		Facility fund			4.83				Jun. 12, 2036				30,000				29,683
													400,000				398,258
Debentures repaid:
Unsecured corporate bonds		Operating fund			2.08				Mar. 4, 2026				(90,000	)			(90,000	)
Unsecured corporate bonds		Operating fund			1.97				Jun. 3, 2026				(120,000	)			(120,000	)
Unsecured corporate bonds		Refinancing fund			1.39				Jan. 15, 2026				(80,000	)			(80,000	)
Unsecured corporate bonds		Refinancing fund			3.65				Feb. 17, 2026				(110,000	)			(110,000	)
Unsecured corporate bonds		Refinancing fund			3.72				Apr. 10, 2026				(80,000	)			(80,000	)
Unsecured corporate bonds(*1)		Operating and refinancing fund			4.28				Feb. 27, 2026				(100,000	)			(100,000	)
													(580,000	)			(580,000	)
Other changes(*2)													107,121				110,756
Current(*3)													862,529				860,277
Non-current(*3)													7,301,500				7,282,641
As of June 30, 2026												W	8,164,029				8,142,918

(*1) Unsecured corporate bonds were issued by SK Broadband Co., Ltd., a subsidiary of the Parent Company.

(*2) Other changes primarily reflect foreign currency translation effect of debentures and amortization of debentures issuance discount for the six-month period ended June 30, 2026.

(*3) W519,610 million was reclassified from non-current to current for the six-month period ended June 30, 2026.

32

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

16. Long-term Payables – other

(1) As of June 30, 2026 and December 31, 2025, details of long-term payables – other which consist of payables related to the acquisition of frequency usage rights are as follows (See note 14):

(In millions of won)
		June 30, 2026				December 31, 2025
Long-term payables – other		W	182,775				551,925
Present value discount on long-term payables – other			(2,172	)			(3,964	)
Current portion of long-term payables – other			(90,500	)			(368,572	)
Carrying amount at period end		W	90,103				179,389

(2) Repayments of the principal portion of long-term payables – other amounted to W369,150 million for each of the six-month periods ended June 30, 2026 and 2025, respectively. The repayment schedule for the principal amount of long-term payables – other as of June 30, 2026 is as follows:

(In millions of won)
		Amount
Less than 1 year		W	91,388
1~3 years			91,387
		W	182,775

33

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

17. Provisions

Changes in provisions for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended June 30, 2026
		Beginning balance				Increase				Utilization				Reversal, etc.				Other				Ending balance
Provision for restoration		W	117,583				2,228				(3,034	)			1,664				(431	)			118,010
Emission allowance			530				4,378				(530	)			—				—				4,378
Other provisions			107,934				3,000				(3,897	)			(12	)			—				107,025
		W	226,047				9,606				(7,461	)			1,652				(431	)			229,413
(In millions of won)		For the six-month period ended June 30, 2025
		Beginning balance				Increase				Utilization				Reversal				Other				Ending balance
Provision for restoration		W	119,623				2,455				(4,313	)			(772	)			(5	)			116,988
Emission allowance			437				1,034				—				(38	)			—				1,433
Other provisions			—				118				—				—				—				118
		W	120,060				3,607				(4,313	)			(810	)			(5	)			118,539

18. Defined Benefit Assets

(1) Details of defined benefit assets as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Present value of defined benefit obligations		W	1,026,780				1,051,508
Fair value of plan assets			(1,145,932	)			(1,256,985	)
		W	(119,152	)			(205,477	)

(2) Total cost of defined benefit plan, which is recognized in profit or loss for the six-month periods ended June 30, 2026 and 2025 is as follows:

(In millions of won)		For the six-month period ended
		June 30, 2026				June 30, 2025
Current service cost		W	54,765				62,829
Net interest income			(3,293	)			(2,417	)
		W	51,472				60,412

34

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

19. Share Capital and Capital Surplus and Others

(1) The Parent Company’s outstanding share capital consists of shares with a par value of W100. The number of authorized and issued common shares and the details of share capital and capital surplus and others as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026				December 31, 2025
Number of authorized shares			670,000,000				670,000,000
Number of issued shares			214,790,053				214,790,053
Share capital:
Common shares(*1)		W	30,493				30,493
Capital surplus and others:
Paid-in surplus(*2)			71,000				1,771,000
Treasury shares			(86,991	)			(88,533	)
Hybrid bonds(*3)			398,509				398,509
Share option(Note 20)			7,908				14,511
Others(*4)			(14,249,923	)			(14,226,827	)
		W	(13,859,497	)			(12,131,340	)

(*1) In 2002, 2003 and 2024, the Parent Company retired treasury shares with reduction of its retained earnings before appropriation. As a result, the Group’s issued shares have decreased without change in share capital.

(*2) W1,700,000 million was transferred from paid-in surplus to retained earnings for the six-month period ended June 30, 2026.

(*3) As the Parent Company has no contractual obligation to deliver cash or other financial assets to the holders of its hybrid bonds, the instruments are classified as equity. In the event of liquidation or bankruptcy, the hybrid bonds rank senior only to common shares.

(*4) The amount includes a change in equity amounting to W13,340,037 million due to the spin-off that was accounted for as a transaction under common control.

35

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

19. Share Capital and Capital Surplus and Others, Continued

(2) There were no changes in share capital for the six-month periods ended June 30, 2026 and 2025, and details of shares outstanding as of June 30, 2026 and 2025 are as follows:

(In shares)

June 30, 2026

June 30, 2025

Issued shares

Treasury shares

Outstanding shares

Issued shares

Treasury shares

Outstanding shares

Shares outstanding

214,790,053

1,732,142

213,057,911

214,790,053

1,807,778

212,982,275

(3) Details of treasury shares as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026				December 31, 2025
Number of shares(*)			1,732,142				1,807,778
Acquisition cost		W	86,991				88,533

(*) The Parent Company granted 72,836 treasury shares (acquisition cost: W1,404 million) upon exercise of stock options for the six-month period ended June 30, 2026, resulting in a gain on disposal of treasury shares of W1,890 million, and the Parent Company distributed 2,800 treasury shares (acquisition cost: W138 million) as bonus payment to the employees, resulting in a gain on disposal of treasury shares of W133 million for the six-month period ended June 30, 2026.

36

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

20. Share-based payment arrangement

The Parent Company operates various share-based payment arrangements to align the interests of management with shareholders and to link executive compensation to the growth of corporate value. The Parent Company has recognized W6,310 million of capital surplus and others related to equity-settled share-based payment arrangements, and W6,447 million of accrued expenses related to share-based payment arrangements with cash alternatives, as of June 30, 2026.

The entire equity-settled share-based payment arrangement granted in 2023 was fully exercised during the six-month period ended June 30, 2026, and the changes in the number of share-based payment arrangements with cash alternatives were as follows:

(In shares)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance			299,918				637,326
Exercised			(119,175	)			(337,408	)
Ending balance			180,743				299,918

21. Retained Earnings

Retained earnings as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Appropriated:
Legal reserve		W	22,320				22,320
Reserve			15,096,438				14,996,438
			15,118,758				15,018,758
Unappropriated			10,101,634				7,919,510
		W	25,220,392				22,938,268

37

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

22. Reserves

(1) Details of reserves, net of taxes, as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Valuation gain on FVOCI		W	3,439,944				1,570,314
Other comprehensive income of investments in associates and joint ventures			423,145				368,213
Valuation gain on derivatives			21,065				14,503
Foreign currency translation differences for foreign operations			161,087				72,652
		W	4,045,241				2,025,682

(2) Changes in reserves for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		Valuation gain on financial assets at FVOCI				Other comprehensive income (loss) of investments in associates and joint ventures				Valuation gain (loss) on derivatives				Foreign currency translation differences for foreign operations				Total
																					Balance as of January 1, 2025		W	262,657				315,283				(8,044	)			77,047				646,943
Changes, net of taxes			180,917				(63,349	)			6,853				(56,927	)			67,494
Balance as of June 30, 2025		W	443,574				251,934				(1,191	)			20,120				714,437
Balance as of January 1, 2026		W	1,570,314				368,213				14,503				72,652				2,025,682
Changes, net of taxes			1,869,630				54,932				6,562				88,435				2,019,559
Balance as of June 30, 2026		W	3,439,944				423,145				21,065				161,087				4,045,241

38

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

23. Other Operating Expenses

Details of other operating expenses for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Communication		W	7,418				15,064				7,932				15,719
Utilities			143,281				289,915				131,290				265,962
Taxes and dues			23,447				36,006				25,399				38,264
Repair			118,551				218,801				103,327				204,076
Research and development			95,895				182,502				80,045				169,957
Training			5,306				12,856				4,719				11,769
Bad debt for accounts receivable – trade			7,791				18,005				12,381				19,883
Travel			3,521				7,172				3,783				8,273
Supplies and others			25,219				53,774				204,825				232,787
		W	430,429				834,095				573,701				966,690

24. Other Non-Operating Income and Expenses

Details of other non-operating income and expenses for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Other Non-Operating Income:
Gain on disposal of property and equipment and intangible assets		W	13,544				21,492				3,707				11,410
Gain on disposal of investment property			880				880				—				—
Others			10,185				14,656				18,314				24,835
		W	24,609				37,028				22,021				36,245
Other Non-Operating Expenses:
Loss on disposal of property and equipment and intangible assets		W	852				2,216				1,803				3,962
Loss on impairment of property and equipment and intangible assets			—				—				—				359
Loss on impairment of assets held for sale			2,653				4,747				—				—
Loss on disposal of investment property			1,752				1,752				—				—
Donations			4,167				6,687				6,612				8,969
Bad debt (reversal) for accounts receivable – other			(1,962	)			(754	)			2,454				3,312
Others			901				1,196				2,542				3,670
		W	8,363				15,844				13,411				20,272

39

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

25. Finance Income and Costs

(1) Details of finance income and costs for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Finance Income:
Interest income		W	18,230				32,936				19,891				38,463
Dividends			14,259				32,694				12,639				32,451
Gain on foreign currency transactions			5,684				12,962				6,388				9,097
Gain on foreign currency translations			818				4,636				2,012				4,476
Gain relating to financial instruments at FVTPL			635				1,458				273				417
		W	39,626				84,686				41,203				84,904
Finance Costs:
Interest expenses		W	85,349				175,031				95,017				192,646
Loss on sale of accounts receivable – other			7,561				11,338				3,825				8,768
Loss on foreign currency transactions			3,606				10,112				6,895				13,794
Loss on foreign currency translations			408				2,063				5,924				6,530
Loss relating to financial instruments at FVTPL			(54	)			5,217				(52	)			101
Loss on settlement of derivatives			—				—				7,298				7,298
Loss on repayment of debentures			—				—				—				470
Other finance costs			—				—				23,356				23,356
		W	96,870				203,761				142,263				252,963

(2) Details of interest income included in finance income for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Interest income on cash equivalents and financial instruments		W	11,444				19,451				14,577				27,085
Interest income on loans and others			6,786				13,485				5,314				11,378
		W	18,230				32,936				19,891				38,463

40

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

25. Finance Income and Costs, Continued

(3) Details of interest expenses included in finance costs for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Interest expense on borrowings		W	5,945				11,793				7,068				15,385
Interest expense on debentures			67,604				135,730				68,558				136,293
Others			11,800				27,508				19,391				40,968
		W	85,349				175,031				95,017				192,646

(4) Details of impairment losses for financial assets for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Accounts receivable – trade		W	7,791				18,005				12,381				19,883
Other receivables			(1,962	)			(754	)			2,454				3,312
		W	5,829				17,251				14,835				23,195

26. Income Tax Expense

The income tax expense was calculated by considering current tax expense, adjusted for changes in estimates related to prior periods, and deferred tax expense due to origination and reversal of temporary differences and income tax expense that relates to items recognized outside profit or loss.

41

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

27. Earnings per Share

Earnings per share is calculated for profit attributable to owners of the Parent Company per common share and dilutive potential common share, and details are as follows:

(1) Basic earnings per share

Basic earnings per share for the three and six-month periods ended June 30, 2026 and 2025 are calculated as follows:

(In millions of won, except for share data and basic earnings per share)
		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Basic earnings per share attributable to owners of the Parent Company:
Profit attributable to owners of the Parent Company		W	470,623				793,012				89,638				454,060
Interest on hybrid bonds			(4,950	)			(9,900	)			(4,950	)			(9,900	)
Profit attributable to owners of the Parent Company on common shares			465,673				783,112				84,688				444,160
Weighted average number of common shares outstanding (in shares)(*)			213,013,945				213,011,040				212,959,976				212,923,363
Basic earnings per share (in won)		W	2,186				3,676				398				2,086

(*) Weighted average number of common shares outstanding reflects adjustments for changes in the number of treasury shares for the three and six-month periods ended June 30, 2026 and 2025.

(2) Diluted earnings per share

Diluted earnings per share for the three and six-month periods ended June 30, 2026 and 2025 are calculated as follows:

(In millions of won, except for share data and diluted earnings per share)
		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Profit attributable to owners of the Parent Company on common shares		W	465,673				783,112				84,688				444,160
Adjusted weighted average number of common shares outstanding (in shares)(*)			213,112,224				213,093,850				213,297,609				213,262,279
Diluted earnings per share (in won)		W	2,185				3,675				397				2,083

(*) Diluted earnings per share is calculated by applying the weighted average number of ordinary shares outstanding, adjusted for the assumed conversion of all dilutive potential ordinary shares into ordinary shares.

42

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

28. Categories of Financial Instruments

(1) Financial assets by category as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026
		Financial assets at FVTPL				Equity instruments at FVOCI				Financial assets at amortized cost				Derivatives hedging instrument				Total
Cash and cash equivalents(*1)		W	715,720				—				488,176				—				1,203,896
Short-term investment securities			33,102				—				—				—				33,102
Financial instruments(*1)			—				—				802,992				—				802,992
Long-term investment securities(*2)			166,042				5,681,237				—				—				5,847,279
Accounts receivable – trade(*1)			—				—				2,034,087				—				2,034,087
Loans and other receivables(*1)			206,474				—				656,320				—				862,794
Derivative financial assets			108,488				—				—				311,918				420,406
		W	1,229,826				5,681,237				3,981,575				311,918				11,204,556

(*1) Financial assets reclassified as assets held for sale as of June 30, 2026 are not included.

(*2) The Group designated W5,681,237 million of equity instruments that are not held for trading as financial assets at FVOCI.

(In millions of won)
		December 31, 2025
		Financial assets at FVTPL				Equity instruments at FVOCI				Financial assets at amortized cost				Derivatives hedging instrument				Total
Cash and cash equivalents(*1)		W	657,905				—				832,119				—				1,490,024
Short-term investment securities			35,217				—				—				—				35,217
Financial instruments(*1)			13,000				—				138,796				—				151,796
Long-term investment securities(*2)			162,584				3,025,988				—				—				3,188,572
Accounts receivable – trade(*1)			—				—				1,926,903				—				1,926,903
Loans and other receivables(*1)			189,963				—				682,449				—				872,412
Derivative financial assets			108,884				—				—				201,262				310,146
		W	1,167,553				3,025,988				3,580,267				201,262				7,975,070

(*1) Financial assets reclassified as assets held for sale as of December 31, 2025 are not included.

(*2) The Group designated W3,025,988 million of equity instruments that are not held for trading as financial assets at FVOCI.

43

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

28. Categories of Financial Instruments, Continued

(2) Financial liabilities by category as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)		June 30, 2026
		Financial liabilities at FVTPL				Financial liabilities at amortized cost				Derivatives hedging instrument				Total
Accounts payable – trade		W	—				117,593				—				117,593
Derivative financial liabilities			6,142				—				139				6,281
Borrowings			—				630,000				—				630,000
Debentures			—				8,142,918				—				8,142,918
Lease liabilities(*1,2)			—				1,376,233				—				1,376,233
Accounts payable - other and others(*2)			—				2,594,132				—				2,594,132
		W	6,142				12,860,876				139				12,867,157

(*1) The categorization of financial liabilities is not applicable to lease liabilities, but they are classified as financial liabilities measured at amortized cost, considering the nature of measuring liabilities.

(*2) Financial liabilities reclassified as liabilities held for sale as of June 30, 2026 are not included.

(In millions of won)		December 31, 2025
		Financial liabilities at FVTPL				Financial liabilities at amortized cost				Derivatives hedging instrument				Total
Accounts payable – trade		W	—				110,867				—				110,867
Derivative financial liabilities			5,782				—				621				6,403
Borrowings			—				633,125				—				633,125
Debentures			—				8,213,904				—				8,213,904
Lease liabilities(*1,2)			—				1,525,798				—				1,525,798
Accounts payable - other and others(*2)			—				3,506,048				—				3,506,048
		W	5,782				13,989,742				621				13,996,145

(*1) The categorization of financial liabilities is not applicable to lease liabilities, but they are classified as financial liabilities measured at amortized cost, considering the nature of measuring liabilities.

(*2) Financial liabilities reclassified as liabilities held for sale as of December 31, 2025 are not included.

44

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management

(1) Financial risk management

The Group is exposed to market risk, credit risk and liquidity risk. Market risk refers to the risk of fluctuations in market variables such as foreign exchange rates, interest rates and the prices of financial instruments. The Group has established a risk management framework to monitor and manage these risks on an ongoing basis.

The Group’s financial assets consist of cash and cash equivalents, financial instruments, long-term investment securities, accounts receivable – trade and other, etc. Financial liabilities consist of accounts payable – other and others, borrowings, debentures, lease liabilities and others.

1) Market risk

(i) Currency risk

The Group is exposed to foreign currency risk arising from revenues and expenses denominated in foreign currencies in the course of its global operations. The primary foreign currencies in which such risk arises are the USD, EUR and others. The Group establishes its currency risk management policy by considering the nature of each business and the availability of hedging or risk-mitigating strategies for each Group entity. The Group regularly monitors, evaluates, and manages its foreign currency exposures through established risk management processes for receivables and payables denominated in foreign currencies. Currency risk arises from both forecasted transactions and recognized assets and liabilities which are denominated in a currency other than the functional currency of each Group entity.

The Group has entered into cross currency swaps to hedge against currency risk related to foreign currency debentures.

As of June 30, 2026, a hypothetical change in exchange rates by 10% would have increased (decreased) the Group’s profit before income tax and equity as follows:

(In millions of won)
		Profit before income tax								Equity
		If increased by 10%				If decreased by 10%				If increased by 10%				If decreased by 10%
USD		W	7,513				(7,513	)		W	5,527				(5,527	)
EUR			1,623				(1,623	)			1,194				(1,194	)
Others			55				(55	)			40				(40	)
		W	9,191				(9,191	)		W	6,761				(6,761	)

45

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(1) Financial risk management, Continued

1) Market risk, Continued

(ii) Interest rate risk

The Group is exposed to interest rate risk arising from its borrowings, debentures and long-term payables – other. As the Group’s interest-bearing assets are predominantly fixed-rate instruments, changes in market interest rates do not have a significant impact on the Group’s revenue or operating cash flows.

The Group conducts various analyses to manage interest rate risk and optimize its financing structure. To mitigate the impact of interest rate fluctuations, the Group employs a range of strategies, including refinancing, renewing existing borrowings, alternative financing arrangements and hedging.

As of June 30, 2026, the par values of floating-rate borrowings and debentures amount to W200,000 million and W462,450 million, respectively. The Group has entered into interest rate swaps to hedge interest rate risk related to the floating-rate borrowings and debentures. Therefore, changes in interest rates on the underlying floating-rate borrowings and debentures would not have affected profit before income tax for the six-month period ended June 30, 2026.

As of June 30, 2026, the par values of floating-rate long-term payables – other amount to W182,775 million. Assuming all other variables remain constant, the impact of changes in the interest rate of long-term payables – other by 1%p on profit before income tax and equity for the six-month period ended June 30, 2026 is as follows:

(In millions of won)
		Profit before income tax								Equity
		If increased by 1%p				If decreased by 1%p				If increased by 1%p				If decreased by 1%p
		W	(914	)			914			W	(672	)			672

(iii) Price fluctuations risk

As of June 30, 2026, the Group holds equity instruments that are traded in an active market and is therefore exposed to the risk of fluctuations in market prices. Assuming all other variables remain constant, the impact of changes in per-share stock price of the equity securities on profit before income tax and equity for the six-month period ended June 30, 2026 is as follows:

(In millions of won)

Profit before income tax

Equity

If increased by 10%

If decreased by 10%

If increased by 10%

If decreased by 10%

W

—

—

W

84,008

(84,008

)

46

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(1) Financial risk management, Continued

2) Credit risk

Credit risk refers to the risk that the Group will suffer financial losses due to the failure of the customer or counterparty to fulfill their contractual obligations on the financial instrument. Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instrument fails to meet its contractual obligations. To manage credit risk, the Group evaluates the credit worthiness of each customer or counterparty by considering the party’s financial information, its own trading records and other factors. Based on such information, the Group establishes credit limits for each customer or counterparty.

The Group recognizes a loss allowance for accounts receivable – trade. The allowance consists of a specific component for individually significant exposures and a collective component for groups of similar assets where credit losses are expected to occur. The collective loss allowance is determined based on historical data of collection statistics for similar financial assets. Also, the Group’s credit risk can arise from transactions with financial institutions related to its cash and cash equivalents, financial instruments and derivatives. To minimize such risk, the Group has a policy to deal only with financial institutions with high credit ratings.

The Group’s maximum exposure to credit risk is equal to each financial asset’s carrying amount as of June 30, 2026.

47

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(1) Financial risk management, Continued

3) Liquidity risk

Liquidity risk is the risk that the Group encounters difficulty in meeting the obligations of the financial liabilities. The Group’s approach to managing liquidity is to ensure that it maintains sufficient cash and cash equivalents and secures adequate liquidity through various committed credit lines at all times. The Group maintains sufficient liquidity based on its cash-generating capacity from operating activities and available credit facilities.

The Group’s accounts payable – other and others includes amounts settled through supplier finance arrangements. The Group pays the amounts within the normal operating cycle, and no collateral is provided in connection with the agreements. As the payment terms have not been substantially modified, the related balances are classified as accounts payable – other and presented as operating cash flows in the statements of cash flows. Accounts payable – other and others relating to the supplier finance arrangements amount to W125,546 million as of June 30, 2026, which equals the amounts already received by the suppliers from the finance provider.

As of June 30, 2026, periods in which cash flows from cash flow hedge derivatives are expected to occur are as follows:

(In millions of won)
		Carrying amount				Contractual cash flows				Less than 1 year				1 - 5 years
Assets		W	311,918				325,470				26,580				298,890
Liabilities			(139	)			(139	)			(139	)			—

48

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(2) Capital management

The Group manages its capital to ensure its ability to continue as a going concern while seeking to maximize shareholder returns through the optimization of its debt and equity structure. The overall capital management strategy of the Group is the same as that of the Group as of and for the year ended December 31, 2025.

The Group monitors its debt-to-equity ratio as a key indicator of capital management. This ratio is calculated as total liabilities divided by total equity, based on the amounts presented in the consolidated financial statements.

Debt-to-equity ratio as of June 30, 2026 and December 31, 2025 is as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Total liabilities		W	16,935,152				17,152,491
Total equity			15,494,999				12,955,292
Debt-to-equity ratio			109.29	%			132.40	%

(3) Fair value

1) Fair value and carrying amount of financial assets and liabilities, including fair value hierarchy as of June 30, 2026 are as follows:

(In millions of won)		June 30, 2026
		Carrying amount				Level 1				Level 2				Level 3				Total
Financial assets that are measured at fair value:
FVTPL		W	1,229,826				—				955,312				274,514				1,229,826
Derivative hedging instruments			311,918				—				311,918				—				311,918
FVOCI			5,681,237				1,141,866				—				4,539,371				5,681,237
		W	7,222,981				1,141,866				1,267,230				4,813,885				7,222,981
Financial liabilities that are measured at fair value:
FVTPL		W	6,142				—				—				6,142				6,142
Derivative hedging instruments			139				—				139				—				139
		W	6,281				—				139				6,142				6,281
Financial liabilities that are not measured at fair value:
Borrowings		W	630,000				—				626,566				—				626,566
Debentures			8,142,918				—				7,876,165				—				7,876,165
Long-term payables – other			180,595				—				180,381				—				180,381
		W	8,953,513				—				8,683,112				—				8,683,112

49

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(3) Fair value, Continued

2) Fair value and carrying amount of financial assets and liabilities, including fair value hierarchy as of December 31, 2025 are as follows:

(In millions of won)
		December 31, 2025
		Carrying amount				Level 1				Level 2				Level 3				Total
Financial assets that are measured at fair value:
FVTPL		W	1,167,553				—				896,085				271,468				1,167,553
Derivative hedging instruments			201,262				—				201,262				—				201,262
FVOCI			3,025,988				966,666				—				2,059,322				3,025,988
		W	4,394,803				966,666				1,097,347				2,330,790				4,394,803
Financial liabilities that are measured at fair value:
FVTPL		W	5,782				—				26				5,756				5,782
Derivative hedging instruments			621				—				621				—				621
		W	6,403				—				647				5,756				6,403
Financial liabilities that are not measured at fair value:
Borrowings		W	633,125				—				634,241				—				634,241
Debentures			8,213,904				—				8,183,670				—				8,183,670
Long-term payables – other			547,961				—				553,807				—				553,807
		W	9,394,990				—				9,371,718				—				9,371,718

The above information does not include fair values of financial assets and liabilities of which fair values have not been measured as carrying amounts are reasonable approximation of fair values.

Fair value of the financial instruments that are traded in an active market (financial assets at FVOCI) is measured based on the bid price at the end of the reporting date.

The Group uses various valuation methods for determination of fair value of financial instruments that are not traded in an active market. Derivative financial contracts and long-term liabilities are measured using the discounted present value methods. Other financial assets are determined using the methods, such as discounted cash flow and market approach. Inputs used in such valuation methods include swap rate, interest rate, risk premium, and the volatility of stock price, and the Group performs valuation using the inputs which are consistent with natures of assets and liabilities measured.

Interest rates used by the Group for the fair value measurement as of June 30, 2026 are as follows:

		Interest rate
Derivative instruments		2.10% ~ 9.76%
Borrowings and debentures		3.56% ~ 4.42%
Long-term payables – other		3.73% ~ 3.84%

50

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

29. Financial Risk Management, Continued

(3) Fair value, Continued

3) There have been no transfers between Level 1 and Level 2 for the six-month period ended June 30, 2026. The changes in financial assets and liabilities classified as Level 3 for the six-month period ended June 30, 2026 are as follows:

(In millions of won)
		Balance as of January 1, 2026				Gain (Loss)				OCI				Acquisition				Disposal				Transfer(*)				Balance as of June 30, 2026
Financial assets:
FVTPL		W	271,468				193				6,962				5,838				(11,901	)			1,954				274,514
FVOCI			2,059,322				—				2,369,854				143,316				(22,885	)			(10,236	)			4,539,371
		W	2,330,790				193				2,376,816				149,154				(34,786	)			(8,282	)			4,813,885
Financial liabilities:
FVTPL		W	(5,756	)			(386	)			—				—				—				—				(6,142	)

(*) Transfer includes amounts transferred between levels in the fair value hierarchy due to changes in the availability of observable market inputs for the financial instruments.

(4) Enforceable master netting agreement or similar agreement

Carrying amounts of financial instruments recognized to which offset agreements are applicable as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)		June 30, 2026
		Gross financial instruments recognized				Amount offset				Net financial instruments presented on the condensed consolidated interim statement  of financial position
Financial assets:
Accounts receivable – trade and others		W	261,321				(246,775	)			14,546
Financial liabilities:
Accounts payable – other and others		W	253,032				(246,775	)			6,257
(In millions of won)		December 31, 2025
		Gross financial instruments recognized				Amount offset				Net financial instruments presented on the consolidated statement of financial position
Financial assets:
Accounts receivable – trade and others		W	222,477				(209,487	)			12,990
Financial liabilities:
Accounts payable – other and others		W	213,881				(209,487	)			4,394

51

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

30. Transactions with Related Parties

(1) List of related parties

Relationship		Company
Ultimate controlling entity		SK Inc.
Joint venture		UTC Kakao-SK Telecom ESG Fund
Associates(*)		SK China Company Ltd. and 41 others
Others		The ultimate controlling entity’s subsidiaries, associates and others

(*) Associates include investments that are measured in accordance with KIFRS 1109 in which the Group has significant influence but is determined to have no substantive access to returns associated with its ownership interest.

As of June 30, 2026, the Group is part of SK Group, a conglomerate as defined in the Monopoly Regulation and Fair Trade Act of the Republic of Korea. All other entities within SK Group are therefore considered related parties of the Group.

(2) Compensation for the key management

The Parent Company considers registered directors who have substantial roles and responsibilities in the planning, operations, and oversight of relevant controls of the business to be key management personnel. The compensation given to such key management for the three and six-month periods ended June 30, 2026 and 2025 is as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Salaries		W	1,252				2,308				893				4,939
Defined benefit plan expenses			198				336				158				521
Share option			271				2,596				95				132
		W	1,721				5,240				1,146				5,592

Compensation for the key management includes salaries, non-monetary benefits, defined benefit relating to the pension plan, and share-based compensation expenses.

52

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

30. Transactions with Related Parties, Continued

(3) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
				For the period ended June 30, 2026
				Operating revenue and others								Operating expenses and others(*1)								Acquisition of property and equipment and others
Scope		Company		Three- month				Six-month				Three- month				Six- month				Three- month				Six- month
Ultimate controlling entity		SK Inc.(*2)		W	17,794				26,239				161,509				264,542				88,777				92,732
Associates		SK m&service Co., Ltd.			598				1,365				9,336				19,657				46				91
		Penguin Solutions, Inc.(*3)			3,919				8,048				1,911				1,911				—				—
		Others(*4)			5,620				6,856				9,605				10,039				—				—
					10,137				16,269				20,852				31,607				46				91
Others		SK Innovation Co., Ltd.			1,552				3,796				3,332				7,499				—				—
		SK Energy Co., Ltd.			496				812				22				72				—				—
		SK Geo Centric Co., Ltd.			233				344				—				14				—				—
		SK Networks Co., Ltd.(*5)			619				1,112				172,145				474,031				—				—
		SK Networks Service Co., Ltd.			182				370				15,536				30,221				465				465
		SK Ecoplant Co., Ltd.			1,125				1,649				—				—				105,902				124,302
		SK hynix Inc.			29,629				47,596				23				193				—				—
		SK Shieldus Co., Ltd.			12,933				25,563				39,568				79,664				1,813				2,325
		Content Wavve Corp.			1				64				11,342				22,934				—				—
		Eleven Street Co., Ltd.			17,434				40,099				8,353				17,365				—				—
		SK Planet Co., Ltd.			1,579				3,213				16,432				33,157				—				95
		SK intellix Co., Ltd. (Formerly, SK Magic Co., Ltd.)			533				778				282				565				—				—
		Tmap Mobility Co., Ltd.			1,490				3,116				961				2,005				—				—
		One Store Co., Ltd.(*6)			3,121				5,968				7				13				—				—
		Dreamus Company			541				998				11,148				22,384				—				—
		UNA Engineering Inc.			23				47				13,993				26,789				6,732				9,234
		Happy Narae Co., Ltd.			126				251				1,025				3,179				6,355				6,531
		SK REIT Co., Ltd.			—				1				2,593				5,961				—				—
		Others			8,426				16,371				10,172				14,415				453				453
					80,043				152,148				306,934				740,461				121,720				143,405
				W	107,974				194,656				489,295				1,036,610				210,543				236,228

(*1) Operating expenses and others include lease payments by the Group.

(*2) Operating expenses and others include W54,505 million of dividends paid by the Parent Company.

(*3) Operating revenue and others include W8,048 million of dividends received.

(*4) Operating revenue and others include W4,497 million of dividends received which was deducted from the investment in associates.

(*5) Operating expenses and others include costs for handset purchases amounting to W452,733 million.

(*6) One Store Co., Ltd. was excluded from the related parties for the six-month period ended June 30, 2026, and the transactions above occurred before the related party relationship terminated.

53

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

30. Transactions with Related Parties, Continued

(3) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

(In millions of won)
				For the period ended June 30, 2025
				Operating revenue and others								Operating expenses and others(*1)								Acquisition of property and equipment and others
Scope		Company		Three- month				Six- month				Three- month				Six- month				Three- month				Six- month
Ultimate controlling entity		SK Inc.(*2)		W	5,448				9,814				163,858				336,212				59,939				64,251
Associates		SK m&service Co., Ltd.			1,875				2,239				8,710				11,503				373				606
		Others(*3,4)			8,526				9,692				3,149				17,187				—				—
					10,401				11,931				11,859				28,690				373				606
Others		SK Innovation Co., Ltd.			2,687				3,698				5,118				9,399				—				2,050
		SK Energy Co., Ltd.			483				803				17				63				—				—
		SK Geo Centric Co., Ltd.			220				368				—				13				—				—
		SK Networks Co., Ltd.(*5)			4,411				5,607				192,355				440,547				—				—
		SK Networks Service Co., Ltd.			1,365				2,636				14,983				30,292				369				369
		SK Ecoplant Co., Ltd.			635				1,218				—				—				—				—
		SK hynix Inc.			19,607				32,603				37				268				—				—
		SK Shieldus Co., Ltd.			14,337				27,926				35,251				74,951				8,182				8,931
		Content Wavve Corp.			3,213				7,612				17,213				33,036				—				—
		Eleven Street Co., Ltd.			30,254				33,704				4,972				14,213				—				—
		SK Planet Co., Ltd.			2,071				4,715				36,290				54,673				30				110
		SK intellix Co.,Ltd. (Formerly, SK Magic Co., Ltd.)			387				713				297				610				—				—
		Tmap Mobility Co., Ltd.			4,120				8,532				1,436				2,595				—				—
		One Store Co., Ltd.			3,217				6,523				11				21				—				—
		Dreamus Company			1,337				2,839				13,253				27,079				—				—
		UNA Engineering Inc.			23				45				14,588				27,008				9,731				11,586
		Happy Narae Co., Ltd.			300				541				6,444				9,350				5,615				5,914
		Others			9,811				19,242				14,239				30,740				19,803				19,803
					98,478				159,325				356,504				754,858				43,730				48,763
				W	114,327				181,070				532,221				1,119,760				104,042				113,620

(*1) Operating expenses and others include lease payments by the Group.

(*2) Operating expenses and others include W123,457 million of dividends paid by the Parent Company.

(*3) The disposal of the shares in F&U Credit Information Co., Ltd. held by the Group was completed on April 4, 2025, and the transactions subsequent to the disposal have not been included.

(*4) Operating revenue and others include W8,378 million of dividends received which was deducted from the investment in associates.

(*5) Operating expenses and others include costs for handset purchases amounting to W405,459 million.

54

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

30. Transactions with Related Parties, Continued

(4) Account balances with the related parties as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)				June 30, 2026
				Receivables				Payables
Scope		Company		Accounts receivable – trade, etc.				Accounts payable – other, etc.
Ultimate controlling entity		SK Inc.		W	3,699				75,016
Associates		SK m&service Co., Ltd.			1,205				28,545
		Others			1,080				1,153
					2,285				29,698
Others		SK Innovation Co., Ltd.			4,173				17,622
		SK Networks Co., Ltd.			297				124,324
		Mintit Co., Ltd.			2,550				73
		SK hynix Inc.			15,354				637
		Happy Narae Co., Ltd.			8				1,267
		SK Shieldus Co., Ltd.			12,885				23,069
		Content Wavve Corp.			111				2,693
		Incross Co., Ltd.			1,220				8,298
		Eleven Street Co., Ltd.			25,598				5,332
		SK Planet Co., Ltd.			481				5,509
		UNA Engineering Inc.			—				9,906
		SK REIT Co., Ltd.			7,890				55,259
		Others			7,437				12,952
					78,004				266,941
				W	83,988				371,655

55

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

30. Transactions with Related Parties, Continued

(4) Account balances with the related parties as of June 30, 2026 and December 31, 2025 are as follows, Continued:

(In millions of won)				December 31, 2025
				Receivables				Payables
Scope		Company		Accounts receivable – trade, etc.				Accounts payable – other, etc.
Ultimate controlling entity		SK Inc.		W	9,193				170,652
Associates		SK m&service Co., Ltd.			700				32,081
		Others			1,009				1,790
					1,709				33,871
Others		SK Innovation Co., Ltd.			4,996				21,976
		SK Networks Co., Ltd.			258				123,865
		Mintit Co., Ltd.			2,553				2
		SK hynix Inc.			13,232				291
		Happy Narae Co., Ltd.			37				2,851
		SK Shieldus Co., Ltd.			15,393				18,754
		Content Wavve Corp.			—				6
		Incross Co., Ltd.			1,820				25,570
		Eleven Street Co., Ltd.			17,455				2,189
		SK Planet Co., Ltd.			259				5,933
		UNA Engineering Inc.			—				9,271
		SK REIT Co., Ltd.			7,890				61,835
		Others			11,895				24,816
					75,788				297,359
				W	86,690				501,882

(5) The Group has granted SK REIT Co., Ltd. the right of first offer regarding the disposal of specified real estates owned by the Group, and the negotiation period is three years from June 30, 2024, the date of agreement. In addition, the Group has been granted the right by SK REIT Co., Ltd. to lease the real estate in preference to a third party if SK REIT Co., Ltd. purchases the real estate from the Group.

(6) The details of additional investments and disposal of associates for the six-month period ended June 30, 2026 are as presented in note 10.

56

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

31. Commitments and Contingencies

(1) Collateral assets and commitments

SK Broadband Co., Ltd., a subsidiary of the Parent Company, has pledged its properties as collateral for leases on buildings in the amount of W1,198 million as of June 30, 2026.

(2) Legal claims and litigations

As of June 30, 2026, the Group is involved in various legal claims and litigations. The provision recognized in relation to these claims and litigations is immaterial. For legal claims and litigations for which no provision has been recognized, management does not believe the Group has a present obligation, nor is any such matter expected to have a material effect on the Group’s financial position or operating results in the event an outflow of resources becomes necessary.

(3) Accounts receivable from sale of handsets

Retail stores and authorized dealers of the Parent Company sell handsets to the Parent Company’s subscribers on an installment basis. The Parent Company has entered into comprehensive agreements with these retail stores and authorized dealers to purchase the related accounts receivable from handset sales and to transfer the accounts receivable from handset sales to special purpose companies which were established with the purpose of liquidating receivables, respectively.

The accounts receivable from sale of handsets amounting to W217,650 million and W205,160 million as of June 30, 2026 and December 31, 2025, respectively, which the Parent Company purchased according to the relevant comprehensive agreements, are recognized as accounts receivable – other and long-term accounts receivable – other.

(4) Obligation relating to spin-off

The Parent Company completed the spin-off of its business of managing investments in semiconductor, New Information and Communication Technologies(“ICT”) and other businesses and making new investments on November 1, 2021. In accordance with Article 530-9 (1) of the Korean Commercial Act, the Parent Company and SK Square Co., Ltd., the spin-off company, are jointly and severally liable for liabilities incurred by the Parent Company prior to the spin-off.

(5) According to the covenants associated with the Group’s bond issuances and borrowings, the Group is required to maintain certain financial ratios, including the debt ratio, within specified thresholds. The funds obtained must be used for specified purposes, and regular reporting to lenders is required. Additionally, the contracts include clauses that restrict the provision of additional collateral over the Group’s assets and limit the disposal of certain assets.

(6) The Parent Company entered into a contract with SK Inc. for the use of Amazon Web Services (“AWS”). In accordance with the contract, the Parent Company is entitled to receiving AWS services for a ten-year period beginning in July 2025, with a total contract value of USD 800,000,000.

(7) Capital contribution commitment

For the six-month period ended June 30, 2026, the Parent Company entered into a capital contribution commitment agreement for the acquisition of newly issued shares of SK hynix NAND Product Solutions Corp. The total commitment amount is USD 480,000,000, and the Parent Company expects to make capital contributions up to the committed amount upon capital calls through June 25, 2030.

57

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

32. Statements of Cash Flows

(1) Adjustments for income and expenses from operating activities for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended
		June 30, 2026				June 30, 2025
Interest income		W	(32,936	)			(38,463	)
Dividends			(32,694	)			(32,451	)
Gain on foreign currency translations			(4,636	)			(4,476	)
Gain (loss) relating to investments in subsidiaries, associates and joint ventures, net			(31,815	)			5,287
Gain on disposal of property and equipment and intangible assets			(21,492	)			(11,410	)
Gain on disposal of investment property			(880	)			—
Gain relating to financial instruments at FVTPL			(1,458	)			(417	)
Other finance costs			—				23,356
Interest expenses			175,031				192,646
Loss on foreign currency translations			2,063				6,530
Loss on sale of accounts receivable – other			11,338				8,768
Income tax expense			255,163				303,449
Expense related to defined benefit plan			51,472				60,412
Share option expenses (reversal)			7,889				(36	)
Bonus paid by treasury shares			271				262
Depreciation and amortization			1,754,934				1,791,931
Bad debt for accounts receivable – trade			18,005				19,883
Impairment loss on property and equipment and intangible assets			—				359
Loss on disposal of property and equipment and intangible assets			2,216				3,962
Impairment loss on assets held for sale			4,747				—
Loss on disposal of investment property			1,752				—
Bad debt (reversal) for accounts receivable – other			(754	)			3,312
Loss relating to financial instruments at FVTPL			5,217				101
Loss on settlement of derivatives			—				7,298
Loss on repayment of debentures			—				470
Other expenses			6,711				10,675
		W	2,170,144				2,351,448

58

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

32. Statements of Cash Flows, Continued

(2) Changes in assets and liabilities from operating activities for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended
		June 30, 2026				June 30, 2025
Accounts receivable – trade		W	(121,175	)			(59,304	)
Accounts receivable – other			16,254				(105,347	)
Advanced payments			3,232				(1,489	)
Prepaid expenses			(93,673	)			(61,029	)
Inventories			19,965				16,769
Long-term accounts receivable – other			2,613				14,951
Contract assets			(30,711	)			(20,463	)
Guarantee deposits			16,018				16,422
Accounts payable – trade			6,042				6,802
Accounts payable – other			(356,616	)			343,705
Withholdings			44,534				169,732
Contract liabilities			34,898				36,272
Deposits received			19,954				6,761
Accrued expenses			(76,751	)			5,461
Provisions			(7,382	)			(194	)
Long-term provisions			(79	)			(667	)
Plan assets			134,430				46,160
Retirement benefits payment			(141,380	)			(84,450	)
Others			(3,361	)			(3,738	)
		W	(533,188	)			326,354

(3) Material non-cash transactions for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended
		June 30, 2026				June 30, 2025
Decrease in accounts payable – other relating to the acquisition of property and equipment and intangible assets		W	(147,252	)			(117,752	)
Increase of right-of-use assets			166,588				122,876
Proceeds received in the form of investment securities from the disposal of interests in associates			—				32,024
Transfer from property and equipment to assets held for sale			11,970				—

59

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

33. Emissions Liabilities

(1) The quantities of emissions rights allocated free of charge for each implementation year as of June 30, 2026 are as follows:

(In tCO2-eQ)
		Quantities allocated in 2026				Quantities allocated in 2027				Quantities allocated in 2028				Quantities allocated in 2029				Quantities allocated in 2030				Total
Emissions rights allocated free of charge(*)			1,399,530				1,413,943				1,491,719				1,552,252				1,610,194				7,467,638

(*) Finalized changes in allocated quantities, including additional allocations, cancellations and other adjustments, have been reflected.

(2) Changes in the quantities of emissions rights held by the Group are as follows:

(In tCO2-eQ)
		Quantities allocated in 2024				Quantities allocated in 2025				Quantities allocated in the six- month period ended June 30, 2026(*)				Total
Beginning			414,356				517,280				—				931,636
Allocation at no cost			1,766,850				1,598,389				1,399,530				4,764,769
Purchase (sale)			(41,446	)			(241,848	)			184,406				(98,888	)
Surrender or shall be surrendered			(1,622,480	)			(1,873,821	)			(1,941,339	)			(5,437,640	)
Ending			517,280				—				(357,403	)			159,877

(*) Changes for the six-month period ended June 30, 2026 are estimated quantities, and additionally allocated and surrendered or shall be surrendered quantities will be fixed in the future.

(3) As of June 30, 2026, the estimated annual greenhouse gas emissions quantities of the Group are 1,941,339 tCO2-eQ.

60

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

34. Assets and Liabilities Held for Sale

Assets and liabilities held for sale as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
				June 30, 2026				December 31, 2025
Assets:
Disposal groups(*)		Cash and cash equivalents		W	37,346				27,569
		Accounts receivable – trade and other, net			25,810				23,591
		Advanced payments			105				80
		Prepaid expenses			1,694				1,877
		Inventories, net			4,579				6,278
		Property and equipment, net			10,584				10,866
		Intangible assets, net			19,811				17,795
		Right of use, net			3,132				2,646
		Financial instruments			35,003				45,003
		Deferred tax assets			4,921				4,916
		Defined benefit assets			935				1,981
Investment in an associate		Daekyo Wipoongdangdang Contents Korea Fund			746				746
Property and equipment		Aircraft and others			11,970				141
				W	156,636				143,489
Liabilities:
Disposal groups(*)		Accounts payable – other			34,609				38,637
		Withholdings			11,406				16,863
		Lease liabilities			2,281				2,910
		Contract liabilities			227				43
		Provisions			305				275
		Other current liabilities			3,656				3,885
		Current tax liabilities			1,533				4,495
				W	54,017				67,108

(*) For the year ended December 31, 2025, the Group decided to dispose of the shares of SK stoa Co., Ltd. and Media S Co., Ltd., the consolidated subsidiaries. Accordingly, the assets and liabilities of SK stoa Co., Ltd. and Media S Co., Ltd. were reclassified as assets and liabilities held for sale.

61

SK TELECOM CO., LTD. and its Subsidiaries

Notes to the Condensed Consolidated Interim Financial Statements

June 30, 2026 and 2025

35. Subsequent Events

(1) The Board of Directors of the Parent Company resolved to pay interim dividends at the Board of Directors’ meeting held on July 23, 2026, and the details are as follows:

Classification		Description
Interim dividend amount		W830 per share (Total amount: W176,838 million)
Dividend rate		0.94%
Record date		August 31, 2026
Date of distribution		Pursuant to Article 165-12 (3) of Capital Market and Financial Investment Business Act, the Parent Company shall distribute dividends no later than September 17, 2026

(2) The Board of Directors of the Parent Company resolved to establish and make a capital contribution to SK Hyper Co., Ltd., a subsidiary of the Parent Company, at the Board of Directors’ meeting held on July 23, 2026. The total committed capital contribution amount is W750,000 million, of which the Parent Company contributed W330,000 million on July 23, 2026. Depending on the progress of the business, the Parent Company expects to make additional capital contributions up to the remaining committed amount through December 31, 2030.

62

SK TELECOM CO., LTD.

Condensed Separate Interim Financial Statements

For the six-month periods ended June 30, 2026 and 2025

(With Independent Auditors’ Review Report)

Contents

		Page
Independent Auditors’ Review Report
Condensed Separate Interim Financial Statements
Condensed Separate Interim Statements of Financial Position			1
Condensed Separate Interim Statements of Income			3
Condensed Separate Interim Statements of Comprehensive Income			4
Condensed Separate Interim Statements of Changes in Equity			5
Condensed Separate Interim Statements of Cash Flows			6
Notes to the Condensed Separate Interim Financial Statements			8

Independent Auditors’ Review Report

Based on a report originally issued in Korean

To the Board of Directors and Shareholders

SK Telecom Co., Ltd.

Reviewed financial statements

We have reviewed the accompanying condensed separate interim financial statements of SK Telecom Co., Ltd. (the “Company”), which comprise the condensed separate interim statement of financial position as of June 30, 2026, the condensed separate interim statements of income and comprehensive income for the three-month and six-month periods ended June 30, 2026 and 2025, the condensed separate statements of changes in equity and cash flows for the six-month period ended June 30, 2026 and 2025, and notes, including material accounting policies and other explanatory information.

Management’s responsibility

Management is responsible for the preparation and fair presentation of these condensed separate interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No.1034, Interim Financial Reporting, and for such internal controls as management determines is necessary to enable the preparation of condensed separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ review responsibility

Our responsibility is to issue a report on these condensed separate interim financial statements based on our reviews.

We conducted our reviews in accordance with the Review Standards for Quarterly and Semiannual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying condensed separate interim financial statements referred to above do not present fairly, in all material respects, in accordance with K-IFRS No.1034, Interim Financial Reporting.

Other matters

The separate statement of financial position of the Company as of December 31, 2025, and the related separate statements of income, comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, were audited by us in accordance with Korean Standards on Auditing and our report thereon, dated March 10, 2026, expressed an unqualified opinion. The accompanying separate statement of financial position of the Company as of December 31, 2025, presented for comparative purposes, is not different from that audited by us from which it was derived in all material respects.

The procedures and practices utilized in the Republic of Korea to review such condensed separate interim financial statements may differ from those generally accepted and applied in other countries.

KPMG Samjong Accounting Corp.

Seoul, Korea

August 12, 2026

This report is effective as of August 12, 2026, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed separate interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that the above review report has not been updated to reflect the impact of such subsequent events or circumstances, if any.

SK TELECOM CO., LTD.

CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2026 AND DECEMBER 31, 2025 AND

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2026 AND 2025

The accompanying condensed separate interim financial statements, including all footnote disclosures, have been prepared by, and are the responsibility of, the Company.

Jung, Jaihun

Chief Executive Officer

SK TELECOM CO., LTD.

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Financial Position

As of June 30, 2026 and December 31, 2025

(In millions of won)		Note				June 30, 2026				December 31, 2025
Assets
Current Assets:
Cash and cash equivalents			27,28			W	575,767				771,861
Short-term financial instruments			27,28				89,155				89,155
Accounts receivable – trade, net			4,27,28,29				1,545,489				1,469,426
Short-term loans, net			4,27,28				70,686				60,122
Accounts receivable – other, net			4,27,28,29,30				447,728				393,136
Contract assets			6,28				6,805				5,958
Prepaid expenses			5				2,106,428				1,997,049
Guarantee deposits, net			4,27,28,29				56,794				58,513
Prepaid income taxes			25				—				8,827
Derivative financial assets			27,28				16				—
Inventories, net							21,200				16,940
Non-current assets held for sale			33				52,051				40,081
Advanced payments and others			4,27,28				16,489				21,489
							4,988,608				4,932,557
Non-Current Assets:
Long-term financial instruments			27,28				3,442				354
Long-term investment securities			7,27,28				4,678,787				2,396,996
Investments in subsidiaries, associates and joint ventures			8				5,933,569				5,892,726
Property and equipment, net			9,11,29				6,988,071				7,680,504
Investment property, net			10				34,309				47,287
Goodwill							1,306,236				1,306,236
Intangible assets, net			12				934,737				1,230,202
Long-term loans, net			4,27,28				264				363
Long-term accounts receivable – other, net			4,27,28,30				227,659				235,980
Long-term contract assets			6,28				8,000				11,363
Long-term prepaid expenses			5				1,062,119				1,065,238
Guarantee deposits, net			4,27,28,29				79,203				92,213
Long-term derivative financial assets			27,28				234,735				156,256
Defined benefit assets			16				50,658				100,212
Other non-current assets							249				249
							21,542,038				20,216,179
Total Assets						W	26,530,646				25,148,736

(Continued)

1

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Financial Position, Continued

As of June 30, 2026 and December 31, 2025

(In millions of won)		Note				June 30, 2026				December 31, 2025
Liabilities and Shareholders’ Equity
Current Liabilities:
Short-term borrowings			13,27,28			W	130,000				130,000
Accounts payable – other			27,28,29				1,010,168				1,527,175
Contract liabilities			6				61,230				108,613
Withholdings			27,28				817,893				773,970
Accrued expenses			27,28				836,060				792,458
Income tax payable			25				189,859				—
Provisions			15,32				146,932				137,750
Current portion of long-term debt, net			13,27,28				734,654				864,696
Lease liabilities			27,28,29				334,901				354,906
Current portion of long-term payables – other			14,27,28				90,500				368,572
Derivative financial liabilities			27,28				694				581
Other current liabilities			27,28				1,864				11,521
							4,354,755				5,070,242
Non-Current Liabilities:
Debentures, excluding current portion, net			13,27,28				5,143,338				5,416,644
Long-term borrowings, excluding current portion, net			13,27,28				300,000				300,000
Long-term payables – other			14,27,28				90,095				179,389
Long-term contract liabilities			6				1,808				1,699
Long-term derivative financial liabilities			27,28				—				621
Long-term lease liabilities			27,28,29				659,440				782,702
Long-term provisions			15				61,630				69,517
Deferred tax liabilities			25				1,840,810				1,277,326
Other non-current liabilities			27,28				73,533				59,546
							8,170,654				8,087,444
Total Liabilities							12,525,409				13,157,686
Shareholders’ Equity:
Share capital			1,17				30,493				30,493
Capital surplus and others			17,18				(6,251,547	)			(4,547,673	)
Retained earnings			19				17,336,199				15,199,915
Reserves			20				2,890,092				1,308,315
Total Shareholders’ Equity							14,005,237				11,991,050
Total Liabilities and Shareholders’ Equity						W	26,530,646				25,148,736

The accompanying notes are an integral part of the condensed separate interim financial statements.

2

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Income

For the three-month and six-month periods ended June 30, 2026 and 2025

(In millions of won, except for earnings per share)						2026								2025
		Note				Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Operating revenue:			21,29
Revenue						W	3,117,043				6,222,832				3,135,120				6,302,575
Operating expenses:			29
Labor							266,307				544,462				224,963				502,952
Commission			5				1,186,177				2,368,775				1,222,694				2,364,369
Depreciation and amortization							612,138				1,228,662				623,904				1,254,495
Network interconnection							103,244				206,488				104,610				212,714
Leased lines							48,367				96,339				48,521				96,990
Advertising							21,786				41,261				22,820				43,373
Rent							9,642				41,340				32,036				64,345
Cost of goods sold							138,641				279,921				144,105				289,395
Others			22				303,001				578,316				460,569				740,678
							2,689,303				5,385,564				2,884,222				5,569,311
Operating profit							427,740				837,268				250,898				733,264
Finance income			24				31,174				126,844				39,061				239,431
Finance costs			24				(71,917	)			(151,103	)			(112,314	)			(196,963	)
Other non-operating income			23				19,575				28,515				18,087				24,967
Other non-operating expenses			23				(5,526	)			(10,012	)			(12,692	)			(18,004	)
Gain relating to investments in subsidiaries, associates and joint ventures, net			8				900				4,376				11,993				13,352
Profit before income tax							401,946				835,888				195,033				796,047
Income tax expense			25				91,322				192,572				158,150				284,572
Profit for the period						W	310,624				643,316				36,883				511,475
Earnings per share:			26
Basic earnings per share (in won)						W	1,435				2,974				150				2,356
Diluted earnings per share (in won)							1,434				2,972				150				2,352

The accompanying notes are an integral part of the condensed separate interim financial statements.

3

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Comprehensive Income

For the three-month and six-month periods ended June 30, 2026 and 2025

(In millions of won)						2026								2025
		Note				Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Profit for the period						W	310,624				643,316				36,883				511,475
Other comprehensive income (loss):
Items that will not be reclassified subsequently to profit or loss, net of taxes:
Remeasurement of defined benefit plans							(4,097	)			(26,319	)			(6,511	)			(25,294	)
Valuation gain on financial assets at fair value through other comprehensive income			20				1,512,508				1,581,493				228,190				218,033
Items that are or may be reclassified subsequently to profit or loss, net of taxes:
Net change in unrealized fair value of derivatives			20				3,491				6,309				4,945				4,055
Other comprehensive income for the period, net of taxes							1,511,902				1,561,483				226,624				196,794
Total comprehensive income						W	1,822,526				2,204,799				263,507				708,269

The accompanying notes are an integral part of the condensed separate interim financial statements.

4

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Changes in Equity

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)										Capital surplus and others
		Note				Share capital				Paid-in surplus				Treasury shares				Hybrid bonds				Share option				Other				Sub-total				Retained earnings				Reserves				Total equity
Balance as of January 1, 2025						W	30,493				1,771,000				(92,962	)			398,509				14,498				(6,642,865	)			(4,551,820	)			15,273,451				208,730				10,960,854
Total comprehensive income:
Profit for the period							—				—				—				—				—				—				—				511,475				—				511,475
Other comprehensive income			20				—				—				—				—				—				—				—				36,999				159,795				196,794
							—				—				—				—				—				—				—				548,474				159,795				708,269
Transactions with owners:
Annual dividends							—				—				—				—				—				—				—				(223,531	)			—				(223,531	)
Interim dividends							—				—				—				—				—				—				—				(176,775	)			—				(176,775	)
Share option			18				—				—				—				—				13				(1,259	)			(1,246	)			—				—				(1,246	)
Interest on hybrid bonds							—				—				—				—				—				—				—				(9,900	)			—				(9,900	)
Disposal of treasury shares			17				—				—				4,429				—				—				887				5,316				—				—				5,316
							—				—				4,429				—				13				(372	)			4,070				(410,206	)			—				(406,136	)
Balance as of June 30, 2025						W	30,493				1,771,000				(88,533	)			398,509				14,511				(6,643,237	)			(4,547,750	)			15,411,719				368,525				11,262,987
Balance as of January 1, 2026						W	30,493				1,771,000				(88,533	)			398,509				14,511				(6,643,160	)			(4,547,673	)			15,199,915				1,308,315				11,991,050
Total comprehensive income:
Profit for the period							—				—				—				—				—				—				—				643,316				—				643,316
Other comprehensive income (loss)			20				—				—				—				—				—				—				—				(20,294	)			1,581,777				1,561,483
							—				—				—				—				—				—				—				623,022				1,581,777				2,204,799
Transactions with owners:
Interim dividends							—				—				—				—				—				—				—				(176,838	)			—				(176,838	)
Transfer from paid-in surplus to retained earnings							—				(1,700,000	)			—				—				—				—				(1,700,000	)			1,700,000				—				—
Share-based payment transactions			18				—				—				—				—				(6,603	)			(300	)			(6,903	)			—				—				(6,903	)
Interest on hybrid bonds							—				—				—				—				—				—				—				(9,900	)			—				(9,900	)
Disposal of treasury shares			17				—				—				1,542				—				—				1,487				3,029				—				—				3,029
							—				(1,700,000	)			1,542				—				(6,603	)			1,187				(1,703,874	)			1,513,262				—				(190,612	)
Balance as of June 30, 2026						W	30,493				71,000				(86,991	)			398,509				7,908				(6,641,973	)			(6,251,547	)			17,336,199				2,890,092				14,005,237

The accompanying notes are an integral part of the condensed separate interim financial statements.

5

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Cash Flows

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)		Note				2026				2025
Cash flows from operating activities:
Cash generated from operating activities:
Profit for the period						W	643,316				511,475
Adjustments for income and expenses			31				1,549,110				1,583,290
Changes in assets and liabilities related to operating activities			31				(577,532	)			166,004
							1,614,894				2,260,769
Interest received							8,429				16,739
Dividends received							99,268				206,223
Interest paid							(129,479	)			(153,279	)
Income tax refund (paid)							1,718				(257,914	)
Net cash provided by operating activities							1,594,830				2,072,538
Cash flows from investing activities:
Cash inflows from investing activities:
Collection of short-term loans							61,821				34,042
Proceeds from disposals of long-term investment securities							11,664				396,161
Proceeds from disposals of investments in subsidiaries, associates and joint ventures							10,340				1,775
Proceeds from disposals of non-current assets held for sale							—				24,234
Proceeds from disposals of property and equipment							8,510				5,383
Proceeds from disposals of intangible assets							8,226				3,508
Proceeds from disposals of investment property							11,842				—
							112,403				465,103
Cash outflows for investing activities:
Increase in long-term financial instruments							(3,088	)			—
Increase in short-term loans							(72,393	)			(60,907	)
Acquisitions of long-term investment securities							(139,925	)			(500	)
Cash outflows from settlement of derivatives							—				(78,467	)
Acquisitions of investments in subsidiaries, associates and joint ventures							(46,947	)			(1,081,718	)
Acquisitions of property and equipment							(420,597	)			(460,819	)
Acquisitions of intangible assets							(20,619	)			(22,387	)
							(703,569	)			(1,704,798	)
Net cash used in investing activities						W	(591,166	)			(1,239,695	)

(Continued)

6

SK TELECOM CO., LTD.

Condensed Separate Interim Statements of Cash Flows, Continued

For the six-month periods ended June 30, 2026 and 2025

(In millions of won)		Note				2026				2025
Cash flows from financing activities:
Cash inflows from financing activities:
Proceeds from issuance of debentures						W	—				807,466
Cash inflows from settlement of derivatives							—				52,859
							—				860,325
Cash outflows for financing activities:
Repayments of long-term borrowings							—				(200,000	)
Repayments of long-term payables – other							(369,150	)			(369,150	)
Repayments of debentures							(480,000	)			(934,420	)
Payments of dividends							(176,821	)			(400,306	)
Payments of interest on hybrid bonds							(9,900	)			(9,900	)
Repayments of lease liabilities							(164,919	)			(147,978	)
							(1,200,790	)			(2,061,754	)
Net cash used in financing activities							(1,200,790	)			(1,201,429	)
Net decrease in cash and cash equivalents							(197,126	)			(368,586	)
Cash and cash equivalents at beginning of the period							771,861				1,165,158
Effects of exchange rate changes on cash and cash equivalents							1,032				(191	)
Cash and cash equivalents at end of the period						W	575,767				796,381

The accompanying notes are an integral part of the condensed separate interim financial statements.

7

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

1. Reporting Entity

SK Telecom Co., Ltd. (“the Company”) was incorporated on March 29, 1984, under the laws of the Republic of Korea (“Korea”) to provide cellular telephone communication services in Korea. The head office of the Company is located at 65, Eulji-ro, Jung-gu, Seoul, Korea.

The Company’s common shares are listed on the Stock Market of Korea Exchange, and its depositary receipts (DRs) are listed on the New York Stock Exchange. As of June 30, 2026, the Company’s total issued shares are held by the following shareholders:

		Number of shares				Percentage of total shares issued (%)
SK Inc.			65,668,397				30.57
National Pension Service			17,229,917				8.02
Institutional investors and other shareholders			116,034,738				54.02
Wellington Management Company LLP			10,278,372				4.79
Kakao Investment Co., Ltd.			3,846,487				1.79
Treasury shares			1,732,142				0.81
			214,790,053				100.00

2. Basis of Preparation

(1) Statement of compliance

These condensed separate interim financial statements were prepared in accordance with Korean International Financial Reporting Standard (“KIFRS”) 1034 Interim Financial Reporting as part of the period covered by the Company’s KIFRS annual financial statements. These condensed separate interim financial statements do not include all of the disclosures required for full annual financial statements. Selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in financial position and performance of the Company since December 31, 2025. The accompanying condensed separate interim financial statements have been translated into English from the Korean language financial statements.

These interim financial statements are condensed separate interim financial statements prepared in accordance with KIFRS 1027, Separate Financial Statements, presented by a parent, an investor with joint control of or significant influence over an investee, in which the investments are accounted for at cost less impairment, if any.

8

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

2. Basis of Preparation, Continued

(2) Use of estimates and judgments

1) Critical judgments, assumptions and estimation uncertainties

The preparation of the condensed separate interim financial statements in conformity with KIFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

In preparing these condensed separate interim financial statements, the significant judgments made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the separate financial statements as of and for the year ended December 31, 2025.

2) Fair value measurement

The Company’s accounting policies and disclosures require the measurement of fair values, for both a number of financial and non-financial assets and liabilities. The Company has established policies and processes with respect to the measurement of fair values, including Level 3 fair values, and the measurement of fair values is reviewed and directly reported to the finance executives.

The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of KIFRS, including the level in the fair value hierarchy in which such valuations should be classified.

When measuring the fair value of an asset or a liability, the Company uses market observable data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;

• Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

The information about assumptions used for fair value measurements is included in note 28.

9

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

3. Material Accounting Policies

The material accounting policies applied by the Company in these condensed separate interim financial statements are the same as those applied by the Company in its separate financial statements as of and for the year ended December 31, 2025, except for the adoption of new and revised KIFRS applied from January 1, 2026, which are summarized below.

(1) New and amended standards and interpretations applied by the Company

The Company has applied the following new and amended standards and interpretations for annual period beginning on January 1, 2026. The following amended KIFRS standards are effective from January 1, 2026 and they did not have a material impact on the Company’s condensed separate interim financial statements.

• Classification and measurement of financial instruments (Amendments to KIFRS 1109 ‘Financial Instruments’ and KIFRS 1107 ‘Financial Instruments: Disclosures’)

• Contracts referencing nature-dependent electricity (Amendments to KIFRS 1109 ‘Financial Instruments’ and KIFRS 1107 ‘Financial Instruments: Disclosures’)

• Annual Improvements to KIFRS - Volume 11

(2) New and amended standards and interpretations that are issued, but not yet applied by the Company

The new and amended standard and interpretation that is issued, but not yet effective is disclosed below.

• KIFRS 1118 ‘Presentation and Disclosure in Financial Statements’

KIFRS 1118 ‘Presentation and Disclosure in Financial Statements’ replaces KIFRS 1001 ‘Presentation of Financial Statements’. KIFRS 1118 is expected to enhance comparability of financial performance among similar entities by providing useful information to users in analyzing and comparing an entity’s financial performance, with a focus on the statement of profit or loss.

KIFRS 1118 shall be applied for annual periods beginning on or after January 1, 2027, and earlier application is permitted. An entity shall apply this standard retrospectively in accordance with KIFRS 1008 ‘Accounting Policies, Changes in Accounting Estimates and Errors’. Accordingly, comparative information for the annual period ended December 31, 2026 will be restated in accordance with KIFRS 1118.

The Company is currently analyzing the key accounting policies that are expected to result in significant differences from those applied in the current financial statements upon adoption of KIFRS 1118.

10

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

4. Trade and Other Receivables

(1) Details of trade and other receivables as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)		June 30, 2026
		Gross amount				Loss allowance				Carrying amount
Current assets:
Accounts receivable – trade		W	1,662,409				(116,920	)			1,545,489
Short-term loans			71,400				(714	)			70,686
Accounts receivable – other(*)			462,187				(14,459	)			447,728
Guarantee deposits			56,794				—				56,794
Accrued income			1,225				—				1,225
			2,254,015				(132,093	)			2,121,922
Non-current assets:
Long-term loans			19,154				(18,890	)			264
Long-term accounts receivable – other			227,659				—				227,659
Guarantee deposits			79,203				—				79,203
			326,016				(18,890	)			307,126
		W	2,580,031				(150,983	)			2,429,048

(*) Gross and carrying amounts of accounts receivable – other as of June 30, 2026 include W206,474 million of financial instruments classified as fair value through profit or loss (“FVTPL”).

(In millions of won)		December 31, 2025
		Gross amount				Loss allowance				Carrying amount
Current assets:
Accounts receivable – trade		W	1,586,131				(116,705	)			1,469,426
Short-term loans			60,729				(607	)			60,122
Accounts receivable – other(*)			410,657				(17,521	)			393,136
Guarantee deposits			58,513				—				58,513
Accrued income			1,089				—				1,089
			2,117,119				(134,833	)			1,982,286
Non-current assets:
Long-term loans			19,254				(18,891	)			363
Long-term accounts receivable – other			235,980				—				235,980
Guarantee deposits			92,213				—				92,213
			347,447				(18,891	)			328,556
		W	2,464,566				(153,724	)			2,310,842

(*) Gross and carrying amounts of accounts receivable – other as of December 31, 2025 include W189,963 million of financial instruments classified as fair value through profit or loss (“FVTPL”).

11

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

4. Trade and Other Receivables, Continued

(2) Changes in the loss allowance on trade and other receivables measured at amortized cost for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended June 30, 2026
		Beginning balance				Impairment (reversal)				Write-offs(*)				Collection of receivables previously written-off				Ending balance
Accounts receivable – trade		W	116,705				13,016				(16,086	)			3,285				116,920
Accounts receivable – other, etc.			37,019				(753	)			(2,360	)			157				34,063
		W	153,724				12,263				(18,446	)			3,442				150,983
(In millions of won)
		For the six-month period ended June 30, 2025
		Beginning balance				Impairment				Write-offs(*)				Collection of receivables previously written-off				Ending balance
Accounts receivable – trade		W	103,054				18,908				(14,994	)			3,233				110,201
Accounts receivable – other, etc.			63,668				3,326				(2,374	)			266				64,886
		W	166,722				22,234				(17,368	)			3,499				175,087

(*) The Company writes off trade and other receivables that are determined to be uncollectable due to reasons such as termination of operations or bankruptcy.

(3) The Company applies the practical expedient that allows the Company to estimate the loss allowance for accounts receivable – trade at an amount equal to the lifetime expected credit losses. The expected credit losses include the forward-looking information. To make the assessment, the Company uses its historical credit loss experience over the past three years and classifies the accounts receivable – trade by their credit risk characteristics and days overdue.

Due to the nature of its business, which involves wireless telecommunications, the Company’s accounts receivables from telecommunications revenue primarily consist of receivables from individual customers. As there are no significant differences in credit terms among customers, there is no material concentration of credit risk.

Receivables related to other revenue mainly consist of receivables from corporate customers. The Company transacts only with corporate customers whose credit risk is assessed as low. In addition, the Company is not exposed to significant credit concentration risk as the Company monitors the credit ratings of these customers on a regular basis and evaluates their creditworthiness accordingly. Although contract assets are subject to the expected credit loss assessment, no significant credit risk has been identified.

12

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

5. Prepaid Expenses

The Company pays commissions to its retail stores and authorized dealers for wireless telecommunications services based on their performance of attracting new customers and renewing contracts with existing customers. The Company recognizes costs among the commissions that would not have incurred if a contract had not been entered into with a customer as prepaid expenses. These prepaid expenses are amortized on a straight-line basis over the expected customer retention periods.

(1) Details of prepaid expenses as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Current assets:
Incremental costs of obtaining contracts		W	2,049,003				1,950,442
Others			57,425				46,607
		W	2,106,428				1,997,049
Non-current assets:
Incremental costs of obtaining contracts		W	1,021,499				1,022,559
Others			40,620				42,679
		W	1,062,119				1,065,238

(2) Incremental costs of obtaining contracts

Amortization in connection with incremental costs of obtaining contracts recognized as an asset for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Amortization recognized			W643,663				1,284,091				582,949				1,161,934

13

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

6. Contract Assets and Liabilities

In case of providing both wireless telecommunication services and sales of handsets, the Company allocated the consideration based on relative stand-alone selling prices and recognized unbilled receivables from handset sales as contract assets. The Company recognized receipts in advance for prepaid telecommunications services and solution services, and unearned revenue for customer loyalty programs as contract liabilities.

(1) Details of contract assets and liabilities as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Contract assets		W	14,805				17,321
Contract liabilities:
Wireless service contracts			20,109				19,503
Customer loyalty programs			6,597				5,920
Others			36,332				84,889
		W	63,038				110,312

(2) Amounts of revenue recognized for the six-month periods ended June 30, 2026 and 2025 related to the contract liabilities carried forward from the prior periods are W51,645 million and W35,574 million, respectively.

14

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

7. Long-term Investment Securities

Details of long-term investment securities as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		Category		June 30, 2026				December 31, 2025
Equity instruments		FVOCI(*)		W	4,624,385				2,337,149
Debt instruments		FVTPL			54,402				59,847
				W	4,678,787				2,396,996

(*) The Company designated investments in equity instruments that are not held for trading as financial assets at FVOCI.

8. Investments in Subsidiaries, Associates and Joint Ventures

(1) Investments in subsidiaries, associates and joint ventures as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Investments in subsidiaries		W	4,582,689				4,538,057
Investments in associates and joint ventures			1,350,880				1,354,669
		W	5,933,569				5,892,726

(2) Details of investments in subsidiaries as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026												December 31, 2025
		Number of shares				Ownership (%)				Carrying amount				Carrying amount
SK Telink Co., Ltd.			1,432,627				100.0			W	244,012				244,040
SK Broadband Co., Ltd.(*1)			401,634,869				100.0				3,330,098				3,285,853
PS&Marketing Corporation			66,000,000				100.0				313,983				314,038
SERVICE ACE Co., Ltd.			4,385,400				100.0				21,943				21,963
SK Telecom China Holdings Co., Ltd.			—				100.0				40,365				40,365
SK Telecom Americas, Inc.			122				100.0				129,803				129,803
Atlas Investment(*2)			—				100.0				241,175				240,640
SAPEON Inc.			400,000				62.5				48,456				48,456
Astra AI Infra LLC			—				100.0				182,733				182,733
SK O&S Co., Ltd. and others			—				—				30,121				30,166
										W	4,582,689				4,538,057

(*1) The Company acquired 3,039,090 common shares of SK Broadband Co., Ltd. for W45,684 million through a small-scale and simplified share swap for the six-month period ended June 30, 2026. As a result, the Company’s ownership interest in SK Broadband Co., Ltd. increased from 99.1% to 100.0%.

(*2) The Company contributed an additional W535 million in cash for the six-month period ended June 30, 2026, but there is no change in the ownership interest.

15

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

8. Investments in Subsidiaries, Associates and Joint Ventures, Continued

(3) Details of investments in associates and joint ventures as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026												December 31, 2025
		Number of shares				Ownership (%)				Carrying amount				Carrying amount
Investments in associates:
SK China Company Ltd.			10,928,921				27.3			W	601,192				601,192
Korea IT Fund(*1)			190				63.3				220,957				220,957
SK Technology Innovation Company(*2)			6,586				49.0				20,417				23,699
SM Culture & Contents Co., Ltd.			22,033,898				22.8				29,305				29,305
SK South East Asia Investment Pte. Ltd.			300,000,000				20.0				344,240				344,240
Citadel Pacific Telecom Holdings, LLC(*3)			1,734,109				15.0				36,487				36,487
CMES Robotics Inc. (Formerly, CMES Inc.)(*3)			763,968				6.5				5,488				5,488
Konan Technology Inc.(*3)			2,359,160				18.9				22,413				22,413
Start-up Win-Win Fund and others(*3)			—				—				62,381				62,888
											1,342,880				1,346,669
Investments in joint ventures:
UTC Kakao-SK Telecom ESG Fund(*4)			8,000				48.2				8,000				8,000
										W	1,350,880				1,354,669

(*1) Investment in Korea IT Fund was classified as investment in associates as the Company does not have control over the investee under the contractual agreement with other shareholders.

(*2) The Company recognized a W4,579 million gain relating to investments in associates from the paid-in capital reduction of SK Technology Innovation Company for the six-month period ended June 30, 2026, with no change in ownership interest.

(*3) These investments were classified as investments in associates as the Company can exercise significant influence through its right to appoint the members of the board of directors even though the Company has less than 20% of equity interests.

(*4) This investment was classified as investment in joint venture as the Company has a joint control pursuant to the agreement with the other shareholders.

16

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

8. Investments in Subsidiaries, Associates and Joint Ventures, Continued

(4) The market value of investments in listed associates as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026												December 31, 2025
		Market price per share (in won)				Number of shares				Market value				Market price per share (in won)				Number of shares				Market value
SM Culture & Contents Co., Ltd.		W	1,600				22,033,898				35,254				1,330				22,033,898				29,305
Konan Technology Inc.			12,120				2,359,160				28,593				19,710				2,359,160				46,499
CMES Robotics Inc. (Formerly, CMES Inc.)			19,690				763,968				15,043				33,100				763,968				25,287

9. Property and Equipment

Changes in property and equipment for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	7,680,504				8,515,225
Acquisition			362,551				507,383
Disposal			(52,389	)			(35,154	)
Depreciation			(960,542	)			(982,584	)
Impairment			—				(359	)
Transfer, etc.(*)			(42,053	)			(53,517	)
Ending balance		W	6,988,071				7,950,994

(*) Transfer and other changes include transfers to intangible assets, transfers to or from investment properties, transfers to non-current assets held for sale, and others.

17

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

10. Investment Property

Changes in investment property for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	47,287				35,462
Disposal			(12,714	)			—
Depreciation			(882	)			(1,342	)
Transfer(*)			618				15,347
Ending balance		W	34,309				49,467

(*) Transfer includes transfers to or from property and equipment, and others.

11. Leases

(1) Details of the right-of-use assets as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Right-of-use assets:
Land, buildings and structures		W	599,044				709,924
Others			221,413				259,359
		W	820,457				969,283

(2) Details of amounts recognized in the condensed separate interim statements of income for the six-month periods ended June 30, 2026 and 2025 as a lessee are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Depreciation of right-of-use assets:
Land, buildings and structures		W	141,671				139,004
Others(*)			35,940				36,373
		W	177,611				175,377
Interest expense on lease liabilities		W	13,961				14,674

(*) Others include the amount reclassified as research and development expenses related to the lease contract for research and development facilities.

Expenses related to short-term leases and leases of low-value assets that the Company recognized are immaterial.

18

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

12. Intangible Assets

(1) Changes in intangible assets for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance		W	1,230,202				1,683,018
Acquisition			20,619				22,387
Disposal			(5,572	)			(2,564	)
Amortization			(335,310	)			(330,067	)
Transfer(*)			24,798				37,793
Ending balance		W	934,737				1,410,567

(*) Transfer includes transfers from property and equipment, and others.

(2) Details of frequency usage rights as of June 30, 2026 are as follows:

(In millions of won)

Amount

Amortization methods

Commencement of amortization

Completion of amortization

1.8 GHz license

W

44,076

Dec. 2021

Dec. 2026

2.6 GHz license

60,700

Sep. 2016

Dec. 2026

2.1 GHz license

33,126

Straight-line basis

Dec. 2021

Dec. 2026

3.5 GHz license

291,054

Apr. 2019

Nov. 2028

W

428,956

19

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

13. Borrowings and Debentures

(1) Short-term borrowings as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)

Lender

Annual interest rate (%)

Maturity

June 30, 2026

December 31, 2025

Bank of China Ltd.

2.83

Oct. 29, 2026

W

130,000

130,000

(2) There were no changes in long-term borrowings for the six-month period ended June 30, 2026.

(3) Changes in debentures for the six-month period ended June 30, 2026 are as follows:

(In millions of won)
		Purpose		Annual interest rate (%)				Maturity				Face value				Book value
Current												W	665,000				664,696
Non-current													5,429,430				5,416,644
As of January 1, 2026													6,094,430				6,081,340
Debentures repaid:
Unsecured corporate bonds		Operating fund			2.08				Mar. 4, 2026				(90,000	)			(90,000	)
		Operating fund			1.97				Jun. 3, 2026				(120,000	)			(120,000	)
		Refinancing fund			1.39				Jan. 15, 2026				(80,000	)			(80,000	)
		Refinancing fund			3.65				Feb. 17, 2026				(110,000	)			(110,000	)
		Refinancing fund			3.72				Apr. 10, 2026				(80,000	)			(80,000	)
													(480,000	)			(480,000	)
Other changes(*1)													74,620				76,652
Current(*2)													535,000				534,654
Non-current(*2)													5,154,050				5,143,338
As of June 30, 2026												W	5,689,050				5,677,992

(*1) Other changes primarily reflect foreign currency translation effect of debentures and amortization of debentures issuance discount for the six-month period ended June 30, 2026.

(*2) W349,738 million was reclassified from non-current to current for the six-month period ended June 30, 2026.

20

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

14. Long-Term Payables – Other

(1) As of June 30, 2026 and December 31, 2025, details of long-term payables – other which consist of payables related to the acquisition of frequency usage rights are as follows (See note 12):

(In millions of won)
		June 30, 2026				December 31, 2025
Long-term payables – other		W	182,775				551,925
Present value discount on long-term payables – other			(2,180	)			(3,964	)
Current portion of long-term payables – other			(90,500	)			(368,572	)
Carrying amount at period end		W	90,095				179,389

(2) Repayments of the principal portion of long-term payables – other amounted to W369,150 million for each of the six-month periods ended June 30, 2026 and 2025, respectively. The repayment schedule for the principal amount of long-term payables – other as of June 30, 2026 is as follows:

(In millions of won)
		Amount
Less than 1 year		W	91,388
1 ~ 3 years			91,387
		W	182,775

15. Provisions

Changes in provisions for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		For the six-month period ended June 30, 2026
		Beginning Balance				Increase				Utilization				Reversal, etc.				Ending balance
Provision for restoration		W	99,346				2,059				(2,891	)			1,645				100,159
Emission allowance			—				4,378				—				—				4,378
Other provisions			107,921				—				(3,896	)			—				104,025
		W	207,267				6,437				(6,787	)			1,645				208,562

(In millions of won)		For the six-month period ended June 30, 2025
		Beginning Balance				Increase				Utilization				Reversal				Ending balance
Provision for restoration		W	101,077				1,896				(3,439	)			(385	)			99,149
Emission allowance			28				1,034				—				(38	)			1,024
		W	101,105				2,930				(3,439	)			(423	)			100,173

21

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

16. Defined Benefit Assets

(1) Details of defined benefit assets as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Present value of defined benefit obligations		W	457,738				442,155
Fair value of plan assets			(508,396	)			(542,367	)
		W	(50,658	)			(100,212	)

(2) Total cost of defined benefit plan, which is recognized in profit or loss for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Current service cost		W	22,487				25,559
Net interest income			(1,445	)			(1,684	)
		W	21,042				23,875

22

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

17. Share Capital and Capital Surplus and Others

(1) The Company’s outstanding share capital consists entirely of common shares with a par value of W100. The number of authorized, issued common shares and details of share capital and capital surplus and others as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026				December 31, 2025
Number of authorized shares			670,000,000				670,000,000
Number of issued shares			214,790,053				214,790,053
Share capital:
Common shares(*1)		W	30,493				30,493
Capital surplus and others:
Paid-in surplus(*2)			71,000				1,771,000
Treasury shares			(86,991	)			(88,533	)
Hybrid bonds(*3)			398,509				398,509
Share option(Note 18)			7,908				14,511
Others			(6,641,973	)			(6,643,160	)
		W	(6,251,547	)			(4,547,673	)

(*1) In 2002, 2003 and 2024, the Company retired treasury shares with reduction of its retained earnings before appropriation. As a result, the Company’s issued shares have decreased without a change in share capital.

(*2) W1,700,000 million was transferred from paid-in surplus to retained earnings for the six-month period ended June 30, 2026.

(*3) As there is no contractual obligation to deliver financial assets to the holders of hybrid bonds, the Company classified the hybrid bonds as equity. When in liquidation or bankruptcy, these hybrid bonds are senior only to common shares.

(2) There were no changes in share capital for the six-month periods ended June 30, 2026 and 2025, and details of shares outstanding as of June 30, 2026 and 2025 are as follows:

(In shares)

June 30, 2026

June 30, 2025

Issued shares

Treasury shares

Outstanding shares

Issued shares

Treasury shares

Outstanding shares

Shares outstanding

214,790,053

1,732,142

213,057,911

214,790,053

1,807,778

212,982,275

(3) Details of treasury shares as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won, except for share data)
		June 30, 2026				December 31, 2025
Number of shares(*)			1,732,142				1,807,778
Acquisition cost		W	86,991				88,533

(*) The Company granted 72,836 treasury shares (acquisition cost: W1,404 million) upon exercise of stock options for the six-month period ended June 30, 2026, resulting in a gain on disposal of treasury shares of W1,890 million. Also, the Company distributed 2,800 treasury shares (acquisition cost: W138 million) as bonus payment to the employees, resulting in a gain on disposal of treasury shares of W133 million for the six-month period ended June 30, 2026.

23

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

18. Share-Based Payment Arrangement

The Company operates various share-based payment arrangements to align the interests of management with shareholders and to link executive compensation to the growth of corporate value. The Company has recognized W6,310 million of capital surplus and others related to equity-settled share-based payment arrangements, and W6,447 million of accrued expenses related to share-based payment arrangements with cash alternatives, as of June 30, 2026.

The entire equity-settled share-based payment arrangement granted in 2023 was fully exercised during the six-month period ended June 30, 2026, and the changes in the number of share-based payment arrangements with cash alternatives were as follows:

(In shares)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Beginning balance			299,918				637,326
Exercised			(119,175	)			(337,408	)
Ending balance			180,743				299,918

24

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

19. Retained Earnings

Retained earnings as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Appropriated:
Legal reserve		W	22,320				22,320
Reserve			15,096,438				14,996,438
			15,118,758				15,018,758
Unappropriated			2,217,441				181,157
		W	17,336,199				15,199,915

20. Reserves

(1) Details of reserves, net of taxes, as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Valuation gain on FVOCI		W	2,876,333				1,300,865
Valuation gain on derivatives			13,759				7,450
		W	2,890,092				1,308,315

(2) Changes in reserves for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		Valuation gain on financial assets at FVOCI				Valuation gain (loss) on derivatives				Total
Balance at January 1, 2025		W	213,725				(4,995	)			208,730
Changes, net of taxes			155,740				4,055				159,795
Balance at June 30, 2025		W	369,465				(940	)			368,525
Balance at January 1, 2026		W	1,300,865				7,450				1,308,315
Changes, net of taxes			1,575,468				6,309				1,581,777
Balance at June 30, 2026		W	2,876,333				13,759				2,890,092

25

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

21. Operating Revenue

Disaggregation of operating revenues considering the economic factors that affect the nature, amounts, timing and uncertainty of the Company’s revenue and future cash flows is as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Products transferred at a point in time:
Product sales		W	26,799				60,000				36,575				75,801
Services transferred over time:
Wireless service revenue(*1)			2,549,777				5,131,105				2,622,847				5,284,404
Cellular interconnection revenue			90,791				182,021				93,626				191,087
Others(*2)			449,676				849,706				382,072				751,283
			3,090,244				6,162,832				3,098,545				6,226,774
		W	3,117,043				6,222,832				3,135,120				6,302,575

(*1) Wireless service revenue includes revenue from wireless voice and data transmission services, which is collected from the wireless subscribers.

(*2) Other revenue includes revenue from billing and collection services, solution services, and other miscellaneous services.

The Company has a right to receive consideration from a customer in an amount that corresponds directly with the value of telecommunications service provided; thus, the Company applies practical expedient method and recognizes revenue in the amount to which the Company has a right to invoice.

Most of the Company’s transactions are occurring in Korea as it principally operates its businesses in Korea.

26

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

22. Other Operating Expenses

Details of other operating expenses for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Communication		W	6,335				12,837				6,825				13,283
Utilities			91,151				186,222				90,084				186,966
Taxes and dues			17,698				24,003				20,083				26,839
Repair			75,598				134,694				60,497				120,748
Research and development			91,584				170,674				83,686				165,634
Training			3,527				9,656				3,031				8,396
Bad debt for accounts receivable – trade			5,366				13,016				9,603				18,908
Supplies and others			11,742				27,214				186,760				199,904
		W	303,001				578,316				460,569				740,678

23. Other Non-Operating Income and Expenses

Details of other non-operating income and expenses for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Other Non-operating Income:
Gain on disposal of property and equipment and intangible assets		W	12,346				19,664				3,030				8,534
Gain on disposal of investment property			880				880				—				—
Others			6,349				7,971				15,057				16,433
		W	19,575				28,515				18,087				24,967
Other Non-operating Expenses:
Loss on disposal of property and equipment and intangible assets		W	713				1,502				1,458				3,165
Impairment loss on property and equipment and intangible assets			—				—				—				359
Loss on disposal of investment property			1,752				1,752				—				—
Donations			4,164				6,418				6,612				8,522
Bad debt (reversal) for accounts receivable – other			(1,959	)			(753	)			2,497				3,326
Others			856				1,093				2,125				2,632
		W	5,526				10,012				12,692				18,004

27

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

24. Finance Income and Costs

(1) Details of finance income and costs for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Finance Income:
Interest income		W	9,043				16,484				12,609				23,472
Dividends			18,299				99,268				20,915				207,983
Gain on foreign currency transactions			3,386				8,447				4,799				6,614
Gain on foreign currency translations			322				1,963				735				1,355
Gain relating to financial instruments at FVTPL			124				682				3				7
		W	31,174				126,844				39,061				239,431
Finance Costs:
Interest expenses		W	62,449				129,064				72,124				147,928
Loss on sale of accounts receivable – other			7,561				11,338				3,825				8,768
Loss on foreign currency transactions			1,934				7,287				4,675				8,038
Loss on foreign currency translations			27				430				1,088				1,474
Loss relating to financial instruments at FVTPL			(54	)			2,984				(52	)			101
Loss on settlement of derivatives			—				—				7,298				7,298
Other finance costs			—				—				23,356				23,356
		W	71,917				151,103				112,314				196,963

(2) Details of interest income included in finance income for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Interest income on cash equivalents and short-term financial instruments		W	4,129				6,482				8,013				13,878
Interest income on loans and others			4,914				10,002				4,596				9,594
		W	9,043				16,484				12,609				23,472

(3) Details of interest expenses included in finance costs for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Interest expense on borrowings		W	5,526				11,027				4,333				8,625
Interest expense on debentures			46,602				94,535				52,456				105,045
Others			10,321				23,502				15,335				34,258
		W	62,449				129,064				72,124				147,928

28

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

24. Finance Income and Costs, Continued

(4) Details of impairment losses for financial assets for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Accounts receivable – trade		W	5,366				13,016				9,603				18,908
Other receivables			(1,959	)			(753	)			2,497				3,326
		W	3,407				12,263				12,100				22,234

25. Income Tax Expense

The income tax expense was calculated by considering current tax expense, adjusted for changes in estimates related to prior periods, and deferred tax expense due to origination and reversal of temporary differences and income tax expense that relates to items recognized outside profit or loss.

29

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

26. Earnings per Share

Earnings per share is calculated for profit of the Company per common share and dilutive potential common share, and details are as follows:

(1) Basic earnings per share

Basic earnings per share for the three and six-month periods ended June 30, 2026 and 2025 are calculated as follows:

(In millions of won, except for share data and basic earnings per share)
		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Profit for the period		W	310,624				643,316				36,883				511,475
Interest on hybrid bonds			(4,950	)			(9,900	)			(4,950	)			(9,900	)
Profit for the period on common shares			305,674				633,416				31,933				501,575
Weighted average number of common shares outstanding (in shares)(*)			213,013,945				213,011,040				212,959,976				212,923,363
Basic earnings per share (in won)		W	1,435				2,974				150				2,356

(*) Weighted average number of common shares outstanding reflects adjustments for changes in the number of treasury shares for the three and six-month periods ended June 30, 2026 and 2025.

(2) Diluted earnings per share

Diluted earnings per share for the three and six-month periods ended June 30, 2026 and 2025 are calculated as follows:

(In millions of won, except for share data and diluted earnings per share)
		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Profit for the period on common shares		W	305,674				633,416				31,933				501,575
Adjusted weighted average number of common shares outstanding (in shares)(*)			213,112,224				213,093,850				213,297,609				213,262,279
Diluted earnings per share (in won)		W	1,434				2,972				150				2,352

(*) Diluted earnings per share is calculated by applying the weighted average number of ordinary shares outstanding, adjusted for the assumed conversion of all dilutive potential ordinary shares into ordinary shares.

30

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

27. Categories of Financial Instruments

(1) Financial assets by category as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026
		Financial assets at FVTPL				Equity instruments at FVOCI				Financial assets at amortized cost				Derivatives hedging instrument				Total
Cash and cash equivalents		W	350,000				—				225,767				—				575,767
Financial instruments			—				—				92,597				—				92,597
Long-term investment securities(*)			54,402				4,624,385				—				—				4,678,787
Accounts receivable – trade			—				—				1,545,489				—				1,545,489
Loans and other receivables			206,474				—				675,883				—				882,357
Derivative financial assets			16				—				—				234,735				234,751
		W	610,892				4,624,385				2,539,736				234,735				8,009,748

(*) The Company designated W4,624,385 million of equity instruments that are not held for trading as financial assets at FVOCI.

(In millions of won)
		December 31, 2025
		Financial assets at FVTPL				Equity instruments at FVOCI				Financial assets at amortized cost				Derivatives hedging instrument				Total
Cash and cash equivalents		W	350,000				—				421,861				—				771,861
Financial instruments			—				—				89,509				—				89,509
Long-term investment securities(*)			59,847				2,337,149				—				—				2,396,996
Accounts receivable – trade			—				—				1,469,426				—				1,469,426
Loans and other receivables			189,963				—				638,789				—				828,752
Derivative financial assets			—				—				—				156,256				156,256
		W	599,810				2,337,149				2,619,585				156,256				5,712,800

(*) The Company designated W2,337,149 million of equity instruments that are not held for trading as financial assets at FVOCI.

31

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

27. Categories of Financial Instruments, Continued

(2) Financial liabilities by category as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026
		Financial liabilities at FVTPL				Financial liabilities at amortized cost				Derivatives hedging instrument				Total
Derivative financial liabilities		W	555				—				139				694
Borrowings			—				630,000				—				630,000
Debentures			—				5,677,992				—				5,677,992
Lease liabilities(*)			—				994,341				—				994,341
Accounts payable – other and others			—				2,274,144				—				2,274,144
		W	555				9,576,477				139				9,577,171

(In millions of won)
		December 31, 2025
		Financial liabilities at FVTPL				Financial liabilities at amortized cost				Derivatives hedging instrument				Total
Derivative financial liabilities		W	581				—				621				1,202
Borrowings			—				630,000				—				630,000
Debentures			—				6,081,340				—				6,081,340
Lease liabilities(*)			—				1,137,608				—				1,137,608
Accounts payable – other and others			—				3,190,133				—				3,190,133
		W	581				11,039,081				621				11,040,283

(*) The categorization of financial liabilities is not applicable to lease liabilities, but they are classified as financial liabilities measured at amortized cost, considering the nature of measuring liabilities.

32

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management

(1) Financial risk management

The Company is exposed to market risk, credit risk and liquidity risk. Market risk refers to the risk of fluctuations in market variables such as foreign exchange rates, interest rates and the prices of financial instruments. The Company has established a risk management framework to monitor and manage these risks on an ongoing basis.

The Company’s financial assets consist of cash and cash equivalents, financial instruments, long-term investment securities, accounts receivable – trade and other, etc. Financial liabilities consist of accounts payable – other and others, borrowings, debentures, lease liabilities and others.

1) Market risk

(i) Currency risk

The Company’s currency risk is mainly related to changes in recognized assets and liabilities due to exchange rate fluctuations. If the Company determines that it is necessary to hedge currency risk for business purposes, the Company manages currency risk by using currency swaps, etc. Currency risk arises from forecasted transactions and recognized assets and liabilities which are denominated in a currency other than the functional currency of the Company.

The Company has entered into cross currency swaps to hedge against currency risk related to foreign currency debentures.

As of June 30, 2026, a hypothetical change in exchange rates by 10% would have increased (decreased) the Company’s profit before income tax and equity as follows:

(In millions of won)
		Profit before income tax								Equity
		If increased by 10%				If decreased by 10%				If increased by 10%				If decreased by 10%
USD		W	2,603				(2,603	)		W	1,915				(1,915	)
EUR			1,160				(1,160	)			853				(853	)
Others			55				(55	)			40				(40	)
		W	3,818				(3,818	)		W	2,808				(2,808	)

33

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(1) Financial risk management, Continued

1) Market risk, Continued

(ii) Interest rate risk

The Company is exposed to interest rate risk arising from its borrowings, debentures and long-term payables – other. As the Company’s interest-bearing assets are predominantly fixed-rate instruments, changes in market interest rates do not have a significant impact on the Company’s revenue or operating cash flows.

The Company conducts various analyses to manage interest rate risk and optimize its financing structure. To mitigate the impact of interest rate fluctuations, the Company employs a range of strategies, including refinancing, renewing existing borrowings, alternative financing arrangements and hedging.

As of June 30, 2026, the par values of floating-rate borrowings and debentures amount to W200,000 million and W462,450 million, respectively. The Company has entered into interest rate swaps to hedge interest rate risk related to the floating-rate borrowings and debentures. Therefore, changes in interest rates on the underlying floating-rate borrowings and debentures would not have affected profit before income tax for the six-month period ended June 30, 2026.

As of June 30, 2026, the par values of floating-rate long-term payables – other amount to W182,775 million. Assuming all other variables remain constant, the impact of changes in the interest rate of long-term payables – other by 1%p on profit before income tax and equity for the six-month period ended June 30, 2026 is as follows:

(In millions of won)
Profit before income tax				Equity
If increased by 1%p		If decreased by 1%p		If increased by 1%p		If decreased by 1%p
W(914)		914		W(672)		672

(iii) Price fluctuations risk

As of June 30, 2026, the Company holds equity instruments that are traded in an active market and is therefore exposed to the risk of fluctuations in market prices. Assuming all other variables remain constant, the impact of changes in the per-share stock price of the equity securities on profit before income tax and equity for the six-month period ended June 30, 2026 is as follows:

(In millions of won)
Profit before income tax				Equity
If increased by 10%		If decreased by 10%		If increased by 10%		If decreased by 10%
W—		—		W78,936		(78,936)

34

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(1) Financial risk management, Continued

2) Credit risk

Credit risk refers to the risk that the Company will suffer financial losses due to the failure of the customer or counterparty to fulfill their contractual obligations on the financial instrument. Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. To manage credit risk, the Company evaluates the credit worthiness of each customer or counterparty by considering the party’s financial information, its own trading records and other factors. Based on such information, the Company establishes credit limits for each customer or counterparty.

The Company recognizes a loss allowance for accounts receivable – trade. The allowance consists of a specific component for individually significant exposures and a collective component for groups of similar assets where credit losses are expected to occur. The collective loss allowance is determined based on historical data of collection statistics for similar financial assets. Also, the Company’s credit risk can arise from transactions with financial institutions related to its cash and cash equivalents, financial instruments and derivatives. To minimize such risk, the Company has a policy to deal only with financial institutions with high credit ratings.

The Company’s maximum exposure to credit risk is equal to each financial asset’s carrying amount as of June 30, 2026.

35

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(1) Financial risk management, Continued

3) Liquidity risk

Liquidity risk is the risk that the Company encounters difficulty in meeting the obligations of the financial liabilities. The Company’s approach to managing liquidity is to ensure that it will always maintain sufficient cash and cash equivalents balances and have enough liquidity through various committed credit lines. The Company maintains enough liquidity within credit lines through active operating activities.

The Company’s accounts payable – other and others includes amounts settled through supplier finance arrangements. The Company pays the amounts within the normal operating cycle, and no collateral is provided in connection with the agreements. As the payment terms have not been substantially modified, the related balances are classified as accounts payable – other and presented as operating cash flows in the statements of cash flows. Accounts payable – other and others relating to the supplier finance arrangements amount to W125,546 million as of June 30, 2026, which equals to the amounts already received by the suppliers from the finance provider.

As of June 30, 2026, periods in which cash flows from cash flow hedge derivatives are expected to occur are as follows:

(In millions of won)
		Carrying amount				Contractual cash flows				Less than 1 year				1 – 5 years
Assets		W	234,735				243,985				19,810				224,175
Liabilities			(139	)			(139	)			(139	)			—

(2) Capital management

The Company manages its capital to ensure its ability to continue as a going concern while seeking to maximize shareholder returns through the optimization of its debt and equity structure. The overall capital management strategy of the Company is the same as that for the year ended December 31, 2025.

The Company monitors its debt-to-equity ratio as a key indicator of capital management. This ratio is calculated as total liabilities divided by total equity, based on the amounts presented in the separate financial statements.

Debt-to-equity ratio as of June 30, 2026 and December 31, 2025 is as follows:

(In millions of won)
		June 30, 2026				December 31, 2025
Total liabilities		W	12,525,409				13,157,686
Total equity			14,005,237				11,991,050
Debt-to-equity ratio			89.43	%			109.73	%

36

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(3) Fair value

1) Fair value and carrying amount of financial assets and liabilities, including fair value hierarchy as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)		June 30, 2026
		Carrying amount				Level 1				Level 2				Level 3				Total
Financial assets that are measured at fair value:
FVTPL		W	610,892				—				556,490				54,402				610,892
Derivative hedging instruments			234,735				—				234,735				—				234,735
FVOCI			4,624,385				1,072,924				—				3,551,461				4,624,385
		W	5,470,012				1,072,924				791,225				3,605,863				5,470,012
Financial liabilities that are measured at fair value:
FVTPL		W	555				—				—				555				555
Derivative hedging instruments			139				—				139				—				139
		W	694				—				139				555				694
Financial liabilities that are not measured at fair value:
Borrowings		W	630,000				—				626,566				—				626,566
Debentures			5,677,992				—				5,424,708				—				5,424,708
Long-term payables – other			180,595				—				180,381				—				180,381
		W	6,488,587				—				6,231,655				—				6,231,655

(In millions of won)		December 31, 2025
		Carrying amount				Level 1				Level 2				Level 3				Total
Financial assets that are measured at fair value:
FVTPL		W	599,810				—				539,963				59,847				599,810
Derivative hedging instruments			156,256				—				156,256				—				156,256
FVOCI			2,337,149				912,600				—				1,424,549				2,337,149
		W	3,093,215				912,600				696,219				1,484,396				3,093,215
Financial liabilities that are measured at fair value:
FVTPL		W	581				—				26				555				581
Derivative hedging instruments			621				—				621				—				621
		W	1,202				—				647				555				1,202
Financial liabilities that are not measured at fair value:
Borrowings		W	630,000				—				631,116				—				631,116
Debentures			6,081,340				—				6,013,856				—				6,013,856
Long-term payables – other			547,961				—				553,807				—				553,807
		W	7,259,301				—				7,198,779				—				7,198,779

37

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(3) Fair value, Continued

1) Fair value and carrying amount of financial assets and liabilities, including fair value hierarchy as of June 30, 2026 and December 31, 2025 are as follows, Continued:

The above information does not include fair values of financial assets and liabilities of which fair values have not been measured as carrying amounts are reasonable approximation of fair values.

Fair value of the financial instruments that are traded in an active market (financial assets at FVOCI) is measured based on the bid price at the end of the reporting date.

The Company uses various valuation methods for determination of fair value of financial instruments that are not traded in an active market. Derivative financial contracts and long-term liabilities are measured using valuation methods such as discounted present value methods. Other financial assets are determined using the methods, such as discounted cash flow and market approach. Inputs used in such valuation methods include swap rate, interest rate, risk premium and the volatility of stock price, and the Company performs valuation using the inputs which are consistent with natures of assets and liabilities measured.

Interest rates used by the Company for the fair value measurement as of June 30, 2026 are as follows:

		Interest rate
Derivative instruments			2.10% ~ 4.36%
Borrowings and debentures			3.56% ~ 4.27%
Long-term payables – other			3.73% ~ 3.84%

2) There have been no transfers between Level 1 and Level 2 for the six-month period ended June 30, 2026. The changes in financial assets and liabilities classified as Level 3 for the six-month period ended June 30, 2026 are as follows:

(In millions of won)
		Balance as of January 1, 2026				Loss				OCI				Acquisition				Disposal				Transfer(*)				Balance as of June 30, 2026
Financial assets:
FVTPL		W	59,847				(54	)			—				—				(5,391	)			—				54,402
FVOCI			1,424,549				—				2,003,885				139,925				(8,640	)			(8,258	)			3,551,461
		W1,484,396				(54)				2,003,885				139,925				(14,031)				(8,258)				3,605,863
Financial liabilities:
FVTPL		W	(555	)			—				—				—				—				—				(555	)

(*) Transfer includes amounts transferred between levels in the fair value hierarchy due to changes in the availability of observable market inputs for the financial instruments.

38

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

28. Financial Risk Management, Continued

(4) Enforceable master netting agreement or similar agreement

Carrying amounts of financial instruments recognized to which offset agreements are applicable as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
		June 30, 2026
		Gross financial instruments recognized				Amount offset				Net financial instruments presented on the condensed separate interim statement of financial position
Financial assets:
Accounts receivable – trade and others		W	59,831				(59,831	)			—
Financial liabilities:
Accounts payable – other and others		W	62,903				(59,831	)			3,072
(In millions of won)
		December 31, 2025
		Gross financial instruments recognized				Amount offset				Net financial instruments presented on the separate statement of financial position
Financial assets:
Accounts receivable – trade and others		W	63,777				(63,777	)			—
Financial liabilities:
Accounts payable – other and others		W	66,019				(63,777	)			2,242

39

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties

(1) List of the related parties

Relationship		Company
Ultimate controlling entity		SK Inc.
Subsidiaries		SK Broadband Co., Ltd. and 17 others
Joint venture		UTC Kakao-SK Telecom ESG Fund
Associates(*)		SK China Company Ltd. and 41 others
Others		The ultimate controlling entity’s subsidiaries, associates and others

(*) Associates include investments that are measured in accordance with KIFRS 1109 in which the Company has significant influence but is determined to have no substantive access to returns associated with its ownership interest.

As of June 30, 2026, the Company is part of SK Group, a conglomerate as defined in the Monopoly Regulation and Fair Trade Act of the Republic of Korea. All other entities within SK Group are therefore considered related parties of the Company.

40

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(2) As of June 30, 2026, subsidiaries of the Company are as follows:

Subsidiary				Ownership percentage(%)(*1)				Primary business
Subsidiaries owned by the Company		SK Telink Co., Ltd.			100.0			International telecommunication and Mobile Virtual Network Operator service
		SK Broadband Co., Ltd.			100.0			Fixed-line telecommunication services
		PS&Marketing Corporation			100.0			Communications device retail business
		SERVICE ACE Co., Ltd.			100.0			Call center management service
		SERVICE TOP Co., Ltd.			100.0			Call center management service
		SK O&S Co., Ltd.			100.0			Base station maintenance service
		SK Telecom China Holdings Co., Ltd.			100.0			Investment (Holdings company)
		Atlas Investment			100.0			Investment
		SK Telecom Americas, Inc.			100.0			Information gathering and consulting
		Happy Hanool Co., Ltd.			100.0			Service
		SK stoa Co., Ltd.			100.0			Other telecommunication retail business
		SAPEON Inc.			62.5			Investment (Holdings company)
		Astra AI Infra LLC			100.0			Investment
Subsidiaries owned by SK Broadband Co., Ltd.		Home & Service Co., Ltd.			100.0			Operation of information and communication facility
		Media S Co., Ltd.			100.0			Production and supply services of broadcasting programs
Subsidiary owned by SK Telecom Americas, Inc.		Global AI Platform Corporation			100.0			Software development and supply services
Subsidiary owned by Atlas Investment		Forest AI Investment			100.0			Investment
Other(*2)		SK Telecom Innovation Fund, L.P.			100.0			Investment

(*1) The ownership interest represents direct ownership interest in subsidiaries either by the Company or subsidiaries of the Company.

(*2) Other is owned by Atlas Investment and another subsidiary of the Company.

41

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(3) Compensation for the key management

The Company considers registered directors who have substantial roles and responsibilities in the planning, operations and oversight of relevant controls of the business to be key management personnel. The compensation given to such key management for the three and six-month periods ended June 30, 2026 and 2025 is as follows:

(In millions of won)
		2026								2025
		Three-month period ended June 30				Six-month period ended June 30				Three-month period ended June 30				Six-month period ended June 30
Salaries		W	1,252				2,308				893				4,939
Defined benefit plan expenses			198				336				158				521
Share option			271				2,596				95				132
		W	1,721				5,240				1,146				5,592

Compensation for the key management include salaries, non-monetary benefits, defined benefit relating to the pension plan, and share-based compensation expenses.

42

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(4) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)				For the six-month period ended June 30, 2026
				Operating revenue and others								Operating expenses and others(*1)								Acquisition of property and equipment and others
Scope		Company		Three- month				Six- month				Three- month				Six- month				Three- month				Six- month
Ultimate controlling entity		SK Inc.(*2)		W	13,165				16,687				135,059				213,190				69,476				72,673
Subsidiaries		SK Broadband Co., Ltd.			46,692				92,846				158,823				318,538				367				367
		PS&Marketing Corporation(*3)			1,284				2,717				273,821				602,823				—				12
		SK O&S Co., Ltd.(*4)			666				4,845				71,030				138,755				7,146				8,541
		SK Telink Co., Ltd.(*5)			26,414				105,153				4,634				9,287				—				—
		SERVICE ACE Co., Ltd.(*6)			963				4,931				28,203				56,005				—				—
		SERVICE TOP Co., Ltd.(*7)			1,606				5,167				25,374				51,670				—				—
		Others(*8,9)			4,902				9,843				3,259				6,082				—				—
					82,527				225,502				565,144				1,183,160				7,513				8,920
Associates		SK m&service Co., Ltd.			152				312				6,130				12,764				46				91
		Others(*10)			4,497				4,497				9,533				9,955				—				—
					4,649				4,809				15,663				22,719				46				91
Others		SK Innovation Co., Ltd.			1,536				3,762				2,618				5,900				—				—
		SK Networks Co., Ltd.			358				577				2,313				4,824				—				—
		SK Networks Service Co., Ltd.			145				278				8,610				16,630				290				290
		SK Energy Co., Ltd.			491				801				22				72				—				—
		Content Wavve Corp.			1				64				11,331				22,913				—				—
		Happy Narae Co., Ltd.			71				71				1,585				2,830				4,933				4,980
		SK Shieldus Co., Ltd.			11,666				23,032				24,873				49,648				709				769
		Eleven Street Co., Ltd.			733				1,143				7,601				15,577				—				—
		SK Planet Co., Ltd.			597				1,211				16,049				32,052				—				95
		SK hynix Inc.			26,812				42,201				23				193				—				—
		Tmap Mobility Co., Ltd.			1,326				2,872				949				1,981				—				—
		Dreamus Company			261				459				11,144				22,376				—				—
		One Store Co., Ltd.(*11)			3,064				5,846				7				13				—				—
		UNA Engineering Inc.			—				—				1,573				2,960				376				561
		SK REIT Co., Ltd.			—				—				2,592				5,960				—				—
		Others			7,398				13,375				9,217				12,608				446				446
					54,459				95,692				100,507				196,537				6,754				7,141
				W	154,800				342,690				816,373				1,615,606				83,789				88,825

43

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(4) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

(*1) Operating expenses and others include lease payments by the Company.

(*2) Operating expenses and others include W54,505 million of dividends paid by the Company.

(*3) Operating expenses and others include W279,743 million paid to PS&Marketing Corporation relating to purchase of accounts receivable resulting from sale of handsets.

(*4) Operating revenue and others include W3,500 million of dividend income received.

(*5) Operating revenue and others include W53,996 million of dividend income received.

(*6) Operating revenue and others include W3,302 million of dividend income received.

(*7) Operating revenue and others include W2,100 million of dividend income received.

(*8) Operating revenue and others include W8,048 million of dividend received from Astra AI Infra LLC.

(*9) Global AI Platform Corporation Korea, a subsidiary of the Company, was liquidated for the six-month period ended June 30, 2026, and the transactions above occurred before the liquidation.

(*10) Operating revenue and others include W4,497 million of dividend received from Korea IT Fund.

(*11) One Store Co., Ltd. was excluded from the related parties for the six-month period ended June 30, 2026, and the transactions above occurred before the related party relationship terminated.

44

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(4) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

(In millions of won)				For the six-month period ended June 30, 2025
				Operating revenue and others								Operating expenses and others(*1)								Acquisition of property and equipment and others
Scope		Company		Three- month				Six- month				Three- month				Six- month				Three- month				Six- month
Ultimate controlling entity		SK Inc.(*2)		W	2,396				4,615				141,982				293,605				48,299				51,315
Subsidiaries		SK Broadband Co., Ltd.(*3)			38,680				232,145				152,827				304,887				174				174
		PS&Marketing Corporation(*4)			1,831				3,444				265,554				588,891				25				25
		SK O&S Co., Ltd.(*5)			965				5,798				68,827				135,657				16,137				17,565
		SK Telink Co., Ltd.(*6)			18,389				69,118				4,350				8,540				—				—
		SERVICE ACE Co., Ltd.			679				3,838				31,279				62,511				—				—
		SERVICE TOP Co., Ltd.			1,534				3,065				28,076				58,097				—				—
		Others(*7)			5,190				9,797				3,897				13,305				—				—
					67,268				327,205				554,810				1,171,888				16,336				17,764
Associates		SK m&service Co., Ltd.(*8)			1,444				1,846				5,535				7,249				346				579
		Others(*9,10)			8,378				8,569				2,010				15,024				—				—
					9,822				10,415				7,545				22,273				346				579
Others		SK Innovation Co., Ltd.			2,666				3,657				2,549				5,782				—				—
		SK Networks Co., Ltd.			301				536				2,545				5,212				—				—
		SK Networks Service Co., Ltd.			152				287				8,532				17,376				355				355
		SK Energy Co., Ltd.			478				792				17				63				—				—
		Content Wavve Corp.			3,213				7,612				17,199				33,009				—				—
		Happy Narae Co., Ltd.			44				81				5,516				6,416				4,388				4,478
		SK Shieldus Co., Ltd.			12,862				24,447				19,611				45,122				8,166				8,305
		Eleven Street Co., Ltd.			1,890				3,621				3,438				11,837				—				—
		SK Planet Co., Ltd.			851				2,296				35,367				52,743				30				110
		SK hynix Inc.			15,171				25,891				38				262				—				—
		Tmap Mobility Co., Ltd.			3,632				7,925				1,083				2,138				—				—
		Dreamus Company			1,043				2,194				13,246				27,064				—				—
		One Store Co., Ltd.			3,145				6,375				11				21				—				—
		UNA Engineering Inc.			—				—				1,875				2,843				4,612				4,770
		Others			6,693				12,368				16,214				32,192				96				96
					52,141				98,082				127,241				242,080				17,647				18,114
				W	131,627				440,317				831,578				1,729,846				82,628				87,772

45

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(4) Transactions with the related parties for the three and six-month periods ended June 30, 2026 and 2025 are as follows, Continued:

(*1) Operating expenses and others include lease payments by the Company.

(*2) Operating expenses and others include W123,457 million of dividends paid by the Company.

(*3) Operating revenue and others include W149,526 million of dividend income received.

(*4) Operating expenses and others include W290,506 million paid to PS&Marketing Corporation relating to purchase of accounts receivable resulting from sale of handsets.

(*5) Operating revenue and others include W4,000 million of dividend income received.

(*6) Operating revenue and others include W11,991 million of dividend income received.

(*7) Operating revenue and others include W3,242 million of dividend received from Astra AI Infra LLC.

(*8) Transactions with SK m&service Co., Ltd. prior to the disposal of shares were included as transactions with a subsidiary, and the transactions subsequent to the disposal were included as transactions with an associate.

(*9) The disposal of the shares in F&U Credit Information Co., Ltd. held by the Company was completed on April 4, 2025, and the transactions subsequent to the disposal have not been included.

(*10) Operating revenue and others include W6,940 million of dividend received from Korea IT Fund and W1,438 million of dividend received from Citadel Pacific Telecom Holdings, LLC.

46

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(5) Account balances with the related parties as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)				June 30, 2026
				Receivables				Payables
Scope		Company		Accounts receivable – trade, etc.				Accounts payable – other, etc.
Ultimate controlling entity		SK Inc.		W	3,242				60,494
Subsidiaries		SK Broadband Co., Ltd.			182,442				175,340
		PS&Marketing Corporation			1,157				69,459
		SK O&S Co., Ltd.			87				35,282
		SK Telink Co., Ltd.			20,621				5,513
		SERVICE ACE Co., Ltd.			326				15,375
		SERVICE TOP Co., Ltd.			878				16,176
		Others			56				5,428
					205,567				322,573
Associates		SK m&service Co., Ltd.			938				24,497
		Others			—				1,151
					938				25,648
Others		SK hynix Inc.			15,354				634
		SK Planet Co., Ltd.			398				1,654
		Eleven Street Co., Ltd.			15,862				4,936
		SK Shieldus Co., Ltd.			11,950				16,874
		SK Innovation Co., Ltd.			4,173				17,417
		SK Networks Co., Ltd.			236				23,572
		SK Networks Service Co., Ltd.			1,810				5,907
		Incross Co., Ltd.			1,096				7,858
		UNA Engineering Inc.			—				776
		Happy Narae Co., Ltd.			8				1,267
		Content Wavve Corp.			111				2,689
		Dreamus Company			6				163
		SK REIT Co., Ltd.			7,890				55,259
		Others			7,420				4,261
					66,314				143,267
				W	276,061				551,982

47

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(5) Account balances with the related parties as of June 30, 2026 and December 31, 2025 are as follows, Continued:

(In millions of won)				December 31, 2025
				Receivables				Payables
Scope		Company		Accounts receivable – trade, etc.				Accounts payable – other, etc.
Ultimate controlling entity		SK Inc.		W	8,705				163,338
Subsidiaries		SK Broadband Co., Ltd.			159,296				235,104
		PS&Marketing Corporation			873				57,114
		SK O&S Co., Ltd.			7				40,377
		SK Telink Co., Ltd.			19,531				6,291
		SERVICE ACE Co., Ltd.			341				19,545
		SERVICE TOP Co., Ltd.			1,053				21,034
		Others			206				4,668
					181,307				384,133
Associates		SK m&service Co., Ltd.			448				28,430
		Others			—				1,788
					448				30,218
Others		SK hynix Inc.			13,232				291
		SK Planet Co., Ltd.			154				1,285
		Eleven Street Co., Ltd.			14,115				1,709
		One Store Co., Ltd.			537				10,403
		SK Shieldus Co., Ltd.			14,256				15,146
		SK Innovation Co., Ltd.			4,987				21,419
		SK Networks Co., Ltd.			199				27,698
		SK Networks Service Co., Ltd.			2,159				5,726
		Incross Co., Ltd.			1,557				25,416
		UNA Engineering Inc.			—				3,611
		Happy Narae Co., Ltd.			8				653
		Content Wavve Corp.			—				2
		Dreamus Company			7				1,810
		SK REIT Co., Ltd.			7,890				61,835
		Others			10,995				4,307
					70,096				181,311
				W	260,556				759,000

48

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

29. Transactions with Related Parties, Continued

(6) The Company has granted SK REIT Co., Ltd. the right of first offer regarding the disposal of specified real estates owned by the Company, and the negotiation period is three years from June 30, 2024, the date of agreement. In addition, the Company has been granted the right by SK REIT Co., Ltd. to lease the real estate in preference to a third party if SK REIT Co., Ltd. purchases the real estate from the Company.

(7) The details of additional investments and disposal of subsidiaries and associates for the six-month period ended June 30, 2026 are as presented in note 8.

49

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

30. Commitments and Contingencies

(1) Accounts receivable from sale of handsets

Retail stores and authorized dealers of the Company sell handsets to the Company’s subscribers on an installment basis. The Company has entered into comprehensive agreements with these retail stores and authorized dealers to purchase the related accounts receivable from handset sales and to transfer the accounts receivable from handset sales to special-purpose companies which were established with the purpose of liquidating receivables, respectively.

The accounts receivable from sale of handsets amounting to W217,650 million and W205,160 million as of June 30, 2026 and December 31, 2025, respectively, which the Company purchased according to the relevant comprehensive agreement, are recognized as accounts receivable – other and long-term accounts receivable – other.

(2) Legal claims and litigations

As of June 30, 2026, the Company is involved in various legal claims and litigations. The provision recognized in relation to these claims and litigations is immaterial. For legal claims and litigations for which no provision has been recognized, management does not believe the Company has a present obligation, nor is any such matter expected to have a material effect on the Company’s financial position or operating results in the event an outflow of resources becomes necessary.

(3) Obligation relating to spin-off

The Company completed the spin-off of its business of managing investments in semiconductor, New Information and Communication Technologies(“ICT”) and other businesses and making new investments on November 1, 2021. In accordance with Article 530-9 (1) of the Korean Commercial Act, the Company and SK Square Co., Ltd., the spin-off company, are jointly and severally liable for liabilities incurred by the Company prior to the spin-off.

(4) According to the covenants associated with the Company’s bond issuances and borrowings, the Company is required to maintain certain financial ratios, including the debt ratio, within specified thresholds. The funds obtained must be used for specified purposes, and regular reporting to lenders is required. Additionally, the contracts include clauses that restrict the provision of additional collateral over the Company’s assets and limit disposal of certain assets.

(5) The Company entered into a contract with SK Inc. for the use of Amazon Web Services (“AWS”). In accordance with the contract, the Company is entitled to receiving AWS services for a ten-year period beginning in July 2025, with a total contract value of USD 800,000,000.

(6) Capital contribution commitment

For the six-month period ended June 30, 2026, the Company entered into a capital contribution commitment agreement for the acquisition of newly issued shares of SK hynix NAND Product Solutions Corp. The total commitment amount is USD 480,000,000, and the Company expects to make capital contributions up to the committed amount upon capital calls through June 25, 2030.

50

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

31. Statements of Cash Flows

(1) Adjustments for income and expenses from operating activities for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Gain on foreign currency translations		W	(1,963	)			(1,355	)
Interest income			(16,484	)			(23,472	)
Dividends			(99,268	)			(207,983	)
Gain relating to investments in subsidiaries, associates and joint ventures			(5,500	)			(16,269	)
Gain relating to financial instruments at FVTPL			(682	)			(7	)
Gain on disposal of property and equipment and intangible assets			(19,664	)			(8,534	)
Gain on disposal of investment property			(880	)			—
Other income			—				(3,447	)
Loss on foreign currency translations			430				1,474
Bad debt for accounts receivable – trade			13,016				18,908
Bad debt (reversal) for accounts receivable – other			(753	)			3,326
Loss relating to financial instruments at FVTPL			2,984				101
Loss on settlement of derivatives			—				7,298
Other finance costs			—				23,356
Loss relating to investments in subsidiaries, associates and joint ventures			1,124				2,917
Depreciation and amortization			1,296,734				1,313,993
Loss on disposal of property and equipment and intangible assets			1,502				3,165
Impairment loss on property and equipment and intangible assets			—				359
Loss on disposal of investment property			1,752				—
Loss on sale of accounts receivable – other			11,338				8,768
Interest expense			129,064				147,928
Expense related to defined benefit plan			21,042				23,875
Bonus paid by treasury shares			271				262
Share option expenses (reversal)			7,889				(36	)
Income tax expense			192,572				284,572
Other expenses			14,586				4,091
			W1,549,110				1,583,290

51

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

31. Statements of Cash Flows, Continued

(2) Changes in assets and liabilities from operating activities for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Accounts receivable – trade		W	(82,998	)			(109,506	)
Accounts receivable – other			(55,252	)			(63,048	)
Advanced payments			5,135				2,100
Prepaid expenses			(106,653	)			(68,164	)
Inventories			(4,261	)			6,354
Long-term accounts receivable – other			(2,372	)			3,291
Guarantee deposits			16,248				15,919
Contract assets			2,516				786
Accounts payable – other			(375,812	)			298,437
Withholdings			43,923				108,613
Deposits received			4,051				(4,325	)
Accrued expenses			44,105				(18,289	)
Provisions			(6,787	)			—
Plan assets			45,178				21,471
Retirement benefits payment			(54,034	)			(43,773	)
Contract liabilities			(47,274	)			18,269
Others			(3,245)				(2,131)
		W	(577,532	)			166,004

(3) Material non-cash transactions for the six-month periods ended June 30, 2026 and 2025 are as follows:

(In millions of won)
		For the six-month period ended
		June 30, 2026				June 30, 2025
Decrease in accounts payable – other relating to the acquisition of property and equipment and intangible assets		W	(141,073	)			(34,534	)
Increase of right-of-use assets			83,027				81,098
Transfer from property and equipment to non-current assets held for sale			11,970				—

52

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

32. Emissions Liabilities

(1) The quantities of emissions rights allocated free of charge for each implementation year as of June 30, 2026 are as follows:

(In tCO2-eQ)
		Quantities allocated in 2026				Quantities allocated in 2027				Quantities allocated in 2028				Quantities allocated in 2029				Quantities allocated in 2030				Total
Emissions rights allocated free of charge(*)			918,993				909,994				899,086				888,166				877,264				4,493,503

(*) Finalized changes in allocated quantities, including additional allocations, cancellations and other adjustments, have been reflected.

(2) Changes in quantities of emissions rights held by the Company are as follows:

(In tCO2-eQ)
		Quantities allocated in 2024				Quantities allocated in 2025				Quantities allocated in the six-month period ended June  30, 2026(*)				Total
																	Beginning			414,356				517,280				—				931,636
Allocation at no cost			1,332,500				1,021,864				918,993				3,273,357
Sale			(63,058	)			(293,002	)			—				(356,060	)
Surrender or shall be surrendered			(1,166,518	)			(1,246,142	)			(1,276,396	)			(3,689,056	)
Ending			517,280				—				(357,403	)			159,877

(*) Changes for the six-month period ended June 30, 2026 are estimated quantities, and additionally allocated and surrendered or shall be surrendered quantities will be fixed in the future.

(3) As of June 30, 2026, the estimated annual greenhouse gas emissions quantities of the Company are 1,276,396 tCO2-eQ.

53

SK TELECOM CO., LTD.

Notes to the Condensed Separate Interim Financial Statements

June 30, 2026 and 2025

33. Non-current Assets Held for Sale

Non-current assets held for sale as of June 30, 2026 and December 31, 2025 are as follows:

(In millions of won)
				June 30, 2026				December 31, 2025
Investment in a subsidiary		SK stoa Co., Ltd.		W	40,081				40,081
Property and equipment		Aircraft			11,970				—
				W	52,051				40,081

34. Subsequent Events

(1) The Board of Directors of the Company resolved to pay interim dividends at the Board of Directors’ meeting held on July 23, 2026, and the details are as follows:

Classification		Description
Interim dividend amount		W830 per share (Total amount: W176,838 million)
Dividend rate		0.94%
Record date		August 31, 2026
Date of distribution		Pursuant to Article 165-12 (3) of Capital Market and Financial Investment Business Act, the Company shall distribute dividends no later than September 17, 2026

(2) The Board of Directors of the Company resolved to establish and make a capital contribution to SK Hyper Co., Ltd., a subsidiary of the Company, at the Board of Directors’ meeting held on July 23, 2026. The total committed capital contribution amount is W750,000 million, of which the Company contributed W330,000 million on July 23, 2026. Depending on the progress of the business, the Company expects to make additional capital contributions up to the remaining committed amount through December 31, 2030.

54