Method of Spin-off

Pursuant to Articles 530-2 through 530-11 and Article 530-13 of the Commercial Code of Korea, SK Broadband Co., Ltd. (the “Company” and, following the completion of the Spin-off, the “Surviving Company”) intends to establish the Spin-off Company through a simple horizontal spin-off of the Spin-off Businesses. The Surviving Company will remain as an unlisted company, and the Spin-off Company will also be an unlisted company upon its establishment.

The name of the Spin-off Company may be changed at the extraordinary meeting of the Company’s shareholders to approve the Spin-off Plan (the “Spin-off EGM”) or at the inaugural general meeting of shareholders of the Spin-off Company.

The businesses of the Surviving Company and the Spin-off Company will be determined by the articles of incorporation of the respective companies.

The date of the Spin-off will be February 1, 2027 (scheduled for 00:00, Korea Standard Time), which remains subject to change by the resolution of the board of directors of the Company.

The Spin-off will take place pursuant to a special resolution of the Company’s shareholders in accordance with Article 530-3, Sections 1 and 2 of the Commercial Code of Korea. Pursuant to Article 530-9, Section 1 of the Commercial Code of Korea, each of the Spin-off Company and the Surviving Company will be jointly liable for the liabilities (including all obligations, and the same shall apply throughout the Spin-off Plan) of the Company incurred prior to the Spin-off.

With respect to the joint liabilities of the Surviving Company and the Spin-off Company in relation to the Company’s liabilities incurred prior to the Spin-off as set forth in Paragraph (3) above, in the event that the Surviving Company discharges any liability to which the Spin-off Company was to succeed pursuant to the Spin-off Plan, or the Spin-off Company is otherwise released from any such liability through an outlay of funds by the Surviving Company, the Surviving Company will have a right of recovery against the Spin-off Company. In the event that the Spin-off Company discharges any liability which was to remain with the Surviving Company pursuant to the Spin-off Plan, or the Surviving Company is otherwise released from any such liability through an outlay of funds by the Spin-off Company, the Spin-off Company will have a right of recovery against the Surviving Company.

Assets and liabilities to be transferred to the Spin-off Company pursuant to the Spin-off will be as provided in Article 4, Paragraph (7) of the Spin-off Plan and, in case of any ambiguity, subject to Paragraphs (6) through (12) below.

Except for assets that, by their nature or pursuant to applicable law, cannot be transferred and will therefore remain with the Surviving Company, any and all active and passive assets and liabilities, other rights and obligations (including those under public law), and anything of value (including all licenses and permits, employment relationships, contractual relationships and litigations) of the Company shall, with respect to

Except for those allocated pursuant to Paragraph (6) above, any liabilities relating to the business of the Company that arise or accrue after the date of the Spin-off but due to an act or event taking place prior to such date, or any such liabilities (including contingent liabilities under public or private law and all other liabilities) that had already arisen or accrued prior to such date but are not reflected in the Spin-off Plan for any reason (including failure to become aware of such liabilities) shall belong to the Spin-off Company if the act or event giving rise to the liability exclusively or primarily relates to the Spin-off Businesses, and to the Surviving Company if such act or event exclusively or primarily relates to any business other than the Spin-off Businesses. In the event that it is difficult to determine whether an underlying act or event relates to the Spin-off Businesses, the related liability shall be shared between the Spin-off Company and the Surviving Company in proportion to the ratio of net assets to be allocated to the Spin-off Company and the Surviving Company pursuant to the Spin-off (provided that, where the nature of the liability allows for the calculation of a ratio of allocation between the Spin-off Businesses and other businesses, such ratio shall apply).

Except for those allocated pursuant to Paragraph (6) above, any claims or other rights relating to the business of the Company that arise or accrue after the date of the Spin-off but due to an act or event taking place prior to such date, or any other such claims or other rights (including contingent rights under public or private law and all other claims and rights) that had already arisen or accrued prior to such date but are not reflected in the Spin-off Plan for any reason (including failure to become aware of such claims or rights) shall be treated in the same manner as set forth in the preceding Paragraph (6). Furthermore, in the event any such claim or right under public or private law is allocated to either of the Surviving Company or the Spin-off Company contrary to the provisions of this Paragraph, the company to which such claim or right is allocated shall transfer such claim or right to the company to which such claim or right would belong pursuant to this Paragraph.

Any contract to which the Company is a party that is entered into prior to the date of the Spin-off shall in principle belong to the Spin-off Company if it exclusively or primarily relates to the Spin-off Businesses, and to the Surviving Company if it exclusively or primarily relates to any business other than the Spin-off Businesses. However, if a contract directly relates to a specific asset, it shall be allocated in accordance with the allocation of such specific asset. In the event that a contract relates to both the Spin-off Businesses and other businesses but the Spin-off Business portion and other business portion of such contract cannot be separated, such contract shall be deemed to remain with the Surviving Company, and to the extent transfer to the Spin-off Company is necessary, such matter shall be addressed by mutual discussion of the Surviving Company and the Spin-off Company.

For purposes of determining the assets, liabilities and capital of the Spin-off Company, all assets, contracts, rights, responsibilities and obligations of the Company that belong or relate directly or indirectly to the Spin-off Businesses shall in principle be allocated to the Spin-off Company, and anything not belonging to the Spin-off Businesses shall in principle be allocated to the Surviving Company. Furthermore, the amounts of the assets, liabilities and capital of the Surviving Company and the Spin-off Company shall be determined by taking into account collectively the future operational and investment plans of the Surviving Company and the Spin-off Company and the requirements under applicable laws and regulations.

Any lawsuits to which the Company is a party that are commenced prior to the date of the Spin-off shall belong to the Spin-off Company if it relates to the Spin-off Businesses, and to the Surviving Company if it relates to any business other than the Spin-off Businesses.

Notwithstanding Paragraphs (6) through (8) above, any and all claims and obligations arising from business periods prior to the date of the Spin-off in connection with the Spin-off Businesses relating to (i) accrued interest expense, (ii) accrued interest income, (iii) corporate income tax and local income tax and, (iv) value-added tax shall not be allocated to the Spin-off Company and shall remain with the Company. The Company shall directly pay any interest arising from business periods prior to the date of the Spin-off and shall directly file, pay and receive refunds with respect to corporate income tax, local income tax and value-added tax, and the rights and obligations relating thereto shall not be succeeded to by the Spin-off Company.

The Company intends to separate the entirety of the Spin-off Businesses from the Company’s remaining businesses through a simple horizontal spin-off in order to enhance the specialization of such businesses and strengthen management efficiency.

By establishing a corporate governance structure that enables timely and professional decision-making that is appropriate for the characteristics of each of the Company’s business areas, the Company intends to strengthen competitiveness and concentrate its capabilities on specialized business areas in order to diversify management risks.

Through the Spin-off, the Surviving Company and the Spin-off Company will secure independence between their respective businesses, thereby facilitating focused investment in core businesses through specialization, diversifying management risks, increasing sustainable growth potential and enhancing corporate value.

Spin-off Ratio

Business and Properties to be Transferred in the Spin-off

In accordance with the Spin-off Plan, the Company will transfer any and all active and passive assets and liabilities, other rights and obligations (including those under public law), and anything of value (including all licenses and permits, employment relationships, contractual relationships and lawsuits) of the Company in relation to the Spin-off Businesses (collectively, the “Spin-off Assets and Liabilities”) to the Spin-off Company under the Spin-off. However, any right or obligation relating to the Spin-off Businesses, the transfer of which pursuant to the Spin-off is not permissible under applicable law or due to its nature (including where the approval, permission or acceptance of a report by a governmental authority that is required for such transfer cannot be obtained), will be deemed to remain with the Surviving Company, and the transfer of any such right or obligation (to the extent its transfer to the Spin-off Company is necessary) will subsequently be addressed by mutual discussion of the Surviving Company and the Spin-off Company. The Surviving Company shall provide all necessary assistance (including entering into relevant contracts) to enable the Spin-off Company to continue conducting the Spin-off Businesses as conducted prior to the Spin-off.

The Spin-off Assets and Liabilities will be as set forth in Attachment 1 (Spin-off Statement of Financial Position) and Attachment 2 (List of Transferred Properties) to the Spin-off Plan, which were prepared as of March 31, 2026. Any increases or decreases in such assets or liabilities prior to the date of the Spin-off shall be reflected in the Spin-off Statement of Financial Position and the List of Transferred Properties.

The final values of the specific line items of the Spin-off Assets and Liabilities referenced in the preceding subparagraph are subject to change upon the final determination of the composition of the Spin-off Assets and Liabilities.

Any changes in assets or liabilities arising due to the operations or financial activities of the Spin-off Businesses, the implementation of the Spin-off Plan, changes in applicable laws or accounting standards, or other changes in the value of any of the Spin-off Assets and Liabilities prior to the date of the Spin-off, or any discovery of an asset or liability that is omitted or incorrectly reflected in the List of Transferred Properties, may subsequently be corrected or recorded. All changes pursuant to the preceding sentence shall be reflected in the Spin-off Statement of Financial Position and the List of Transferred Properties.

Any and all real properties of the Company relating to the Spin-off Businesses that will be transferred to the Spin-off Company are set forth in Attachment 3 (List of Transferred Real Properties) to the Spin-off Plan. Any and all lawsuits to which the Company is a party relating to the Spin-off Businesses that will be transferred to the Spin-off Company are set forth in Attachment 6 (List of Transferred Lawsuits) to the Spin-off Plan. Any and all investment securities of the Company relating to the Spin-off Businesses that will be transferred to the Spin-off Company are set forth in Attachment 7 (List of Transferred Investment Securities) to the Spin-off Plan. In the event of any discovery of an omission or incorrect inclusion of any real property, lawsuit or investment security in the applicable list, any such item shall belong to the Spin-off Company if it relates to the Spin-off Businesses, and to the Surviving Company if it relates to any business other than the Spin-off Businesses.

All intellectual property rights (including patents, utility model rights, trademarks, design rights, copyrights and trade secrets) held domestically or internationally prior to the date of the Spin-off by the Company, regardless of whether such rights are registered and including any and all rights and obligations relating thereto (including the rights to file applications for the registration of patents, utility model rights and design rights), shall belong to the Spin-off Company if it relates to the Spin-off Businesses, and to the Surviving Company if it relates to any business other than the Spin-off Businesses. The intellectual property rights to be transferred to the Spin-off Company are set forth in Attachment 4 (List of Transferred Intellectual Property Rights) to the Spin-off Plan. In the event of any discovery of an omission or incorrect inclusion of any intellectual property right in such list, any such item shall belong to the Spin-off Company if it relates to the Spin-off Businesses, and to the Surviving Company if it relates to any business other than the Spin-off Businesses.

Any contractual relationships arising in connection with the Spin-off Businesses (including those relating to the Spin-off Assets and Liabilities) and any security interests (including mortgage and pledge rights) established to secure rights and obligations relating thereto will belong to the Spin-off Company.

The Spin-off Company will succeed to all employment and legal relationships (including severance pay obligations, loans to employees, and any labor management spin-off agreement and employment stability agreement entered into in connection with the Spin-off) relating to all employees working in the Spin-off Businesses as of the date of the Spin-off.

Surviving Company

Spin-off Company

Matters Relating to Capital Reduction

-  Pro Rata Allotment

Spin-off Schedule

Put Option or Other Agreements

Submission of Securities Registration Statement

Plans for Future Corporate Restructuring

In the Case of a Vertical Spin-off, Review of the Vertical Spin-off

In the Case of a Vertical Spin-off, Shareholder Protection Measures

Other Matters Relating to an Investment Decision

Revision or Amendment of the Spin-off Plan

Names and head office addresses of the Surviving Company and the Spin-off Company, and method of public notice;

Spin-off schedule;

Spin-off Ratio;

Amount of reduction in the capital and reserves of the Company;

Properties to remain with the Surviving Company or to be transferred to the Spin-off Company pursuant to the Spin-off and the values thereof;

Financial structure before and after the Spin-off;

Total number of shares to be issued by the Spin-off Company at the time of the Spin-off;

Matters relating to the directors and auditors of the Spin-off Company and the remuneration limit for the initial fiscal year;

Articles of incorporation of the Surviving Company and the Spin-off Company; and

Attachments to the Spin-off Plan (including the List of Transferred Properties).

Any matter that is not addressed in the Spin-off Plan but is required to be determined in relation to the Spin-off may be addressed by revising or amending the Spin-off Plan by resolution of the Company’s board of directors or, depending on the nature of such matter, by the decision of the Company’s representative director upon delegation of such authority by the Company’s board of directors.

The meeting of the Surviving Company’s shareholders for report of the Spin-off and/or the inaugural meeting of shareholders of the Spin-off Company may be substituted by resolutions of the boards of directors of the respective companies and the public announcement thereof.

Appraisal Rights of Dissenting Shareholders

Creditor Protection Procedures

Matters Requiring Transition between Companies

Any matter not addressed in the Spin-off Plan but required to be determined in relation to the Spin-off may be determined and implemented by the representative director of the Company.

Transfer of Personal Information

- Representative

- Principal Business

- Material Subsidiary of SK Telecom