INCAR FINANCIAL SERVICE (211050) investor relations material

Executive summary

• Revenue for H1 2026 was KRW 640.0 billion, up 36.5% year-over-year, driven by growth in long-term insurance sales and expanded sales force.

• Net income attributable to shareholders was KRW 43.8 billion, with EPS of KRW 889 for the half-year.

• The company completed the acquisition and merger of Dream Life Co., Ltd. in H1 2026, strengthening its business portfolio.

• A significant regulatory fine of KRW 5.3 billion was imposed in June 2026 for insurance sales violations, with a reduced payment of KRW 4.25 billion after early settlement.

Financial highlights

• Total assets at June 30, 2026: KRW 1,093.8 billion; total liabilities: KRW 854.5 billion; equity: KRW 239.3 billion.

• Operating income for H1 2026 was KRW 58.3 billion, with a net profit margin of 7.0%.

• Cash and cash equivalents increased to KRW 46.9 billion from KRW 42.6 billion at year-end 2025.

• Dividend of KRW 18.2 billion was paid in April 2026, with a payout ratio of 25.2%.

Outlook and guidance

• The company intends to maintain its current dividend policy, prioritizing reinvestment for business expansion while considering increased shareholder returns if cash flow allows.

• No significant changes in business model or major risk exposures are anticipated for the remainder of 2026.