#1NAVER to Acquire Poshmark Powering Communities, Re-fashioning Commerce NAVER POSHMARK#2Important information and where to find it Participants in the solicitation This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. It does not constitute a prospectus or prospectus equivalent document. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. In connection with the proposed transaction between NAVER Corporation ("NAVER") and Poshmark, Inc. ("Poshmark"), Poshmark will file with the SEC a Proxy Statement, the definitive version of which will be sent or provided to Poshmark stockholders. Poshmark may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which Poshmark or NAVER may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS AND DOCUMENTS INCORPORATED BY REFERENCE THEREIN, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by Poshmark through the website maintained by the SEC www.sec.gov. NAVER and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from Poshmark's stockholders in respect of the proposed transaction and any other matters to be voted on at the special meeting. Information regarding Poshmark's directors and executive officers, including a description of their direct interests, by security holdings or otherwise, will be included in the Proxy Statement (when available). Poshmark stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the proposed transaction, including the interests of Poshmark directors and executive officers in the proposed transaction, which may be different than those of Poshmark's stockholders generally, by reading the Proxy Statement and any other relevant documents that are filed or will be filed with the SEC relating to the proposed transaction. You may obtain free copies of these documents using the sources indicated above.#3Forward-looking statements This communication contains "forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. These forward-looking statements are based on NAVER's current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, its business and industry, management's beliefs and certain assumptions made by NAVER and Poshmark, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "expect," "target," similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the proposed transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (1) the ability of the parties to consummate the proposed transaction in a timely manner or at all. (ii) the satisfaction (or waiver) of closing conditions to the consummation of the proposed transaction: (iii) potential delays in consummation the proposed transaction: (iv) the ability of NAVER to timely and successfully achieve the anticipated benefits of the proposed transaction: (v) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement: (vi) the impact of the COVID-19 pandemic and the current conflict between the Russian Federation and Ukraine on NAVER's business and general economic conditions: (vii) NAVER's ability to implement its business strategy: (viii) significant transaction costs associated with the proposed transaction: (ix) potential litigation relating to the proposed transaction: (x) the risk that disruptions from the proposed transaction will harm NAVER's business, including current plans and operations: (xi) the ability of NAVER to retain and hire key personnel: (xii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction: (xiii) legislative, regulatory and economic developments affecting NAVER's business: (xiv) general economic and market developments and conditions: (xv) the evolving legal, regulatory and tax regimes under which NAVER operates: (xvi) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect NAVER's financial performance; and (xviii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as NAVER's response to any of the aforementioned factors. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the Proxy Statement to be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is, and the list of factors presented in the Proxy Statement will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability and similar risks. The forward-looking statements included herein are made only as of the date hereof. NAVER does not assume any obligation to publicly provide revis or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.#4Transaction overview Terms Leadership Timing to Close Funding Governance • NAVER to acquire all issued and outstanding Poshmark shares for $17.90 in cash • Enterprise value $1.2 billion¹ • Poshmark will continue to operate under its existing brand and be led by Manish Chandra and the current management team • Expected to close by Q1 2023; subject to approval by Poshmark's stockholders and the satisfaction of certain other customary closing conditions • The transaction is expected to be funded with NAVER's cash balances and other existing financing sources Poshmark will become a standalone U.S. subsidiary of NAVER 1. Assumes $436 million of unrestricted cash on balance sheet as of June 30, 2022#5NAVER and Poshmark to create the global re-commerce community of choice NAVER Leading technology in search, Al recommendation and e-commerce tools NAVER Data Cente Cloud GAK SmartLens AI POSHMARK Social platform for sharing styles (Simple, social, sustainable buying)#6Shared set of values and vision: Content, Community, Empowerment Content Community Empowerment NAVER First blogging platform in Korea WEB • Largest storytelling platform globally To (Webtoons, Wattpad) NAVER: 36M DAU • Cafe, Band, Zepeto (340M+ registered users), Weverse (6M+ MAU) and LINE (193M+ MAU) Enabling SMB commerce • Democratizing webtoons creation and publication W wattpad C weverse LINE POSHMARK • Unique styles, fashion, trends • 80M registered users • 8M active buyers • Approximately 25 minutes per day • Posh Fest Easily list and sell your closet#7Poshmark: The largest fashion re-commerce platform in the U.S. Source Comscore (TTM July 2022), Activate Analysis 091 Maxi Dress Fashion focused re-commerce platform average monthly unique visitors 18.4M 4.8M 3.8M 2.5M POSHMARK StockX THREDUP GOAT 1.9M 1.5M depop The Real Real#8313 BRAND SPOTLIGHT Lous wym Lag Spe Le Good Ste ●TNA NICAZOE W PLAY Definitive Brand for peer to peer fashion No.1 awareness platform in fashion re-commerce Gen Z & Millenials MZ consists of 80% of total users Casual Weekend Party am Category 5556SM Micro Community Community curates listings, provides personalized feeds OLDSCHOOL Subculture Purchase items not available anywhere else POSHMARK Fatty Camer Strong User Economics Buyers become sellers and vice versa#9Sustainability E GROW Social Impact Sharing Closets PPOSHMARC LATES Psh Fest Posh Fest#10Social marketplace powered by a hyper-engaged community Large and passionate community Powerful, scaled financial model High gross margins and take rate Strong economics with network effect 80M Registered users $1.8B GMV in 2021 8M Active buyers 20% Take rate ~25min Spent daily $326M Revenue in 2021 52% Of buyers convert into a seller in 5 years 4.5M Active sellers POSHMARK Over 80% Of purchases were preceded by a social action $7.3M Adjusted EBITDA in 2021 85% Gross margin 48% Used earnings to buy#11Korea's largest internet company, spanning the full ecosystem Korea's largest internet company with five distinct service areas The only search engine in the world that has successfully expanded into e-commerce ~36M Monthly Users arch +500K Smart Stores 70% Of all online shopping searches originate on NAVER Commerce 40M+ Registered Users ~$25B Annual GMV in 2021 Content 20% Of total e-commerce GMV in South Korea is represented by NAVER tec Search Google Balda $5.7B Annual Revenue in 2021 Google NAVER Cloud/Al Commerce amazon EL amazon NAVER NAVER#12NAVER Hey, CLOVA! HOW www f Search Engine 9:41 Smartens 나에 Smart Lens AI/ML 슈루트스테이 세이블주문접수 루트스테이 배우 주문하여느 아이스 결제 완료 되었습니다. 주문한 메뉴의 준비가 시작되면 네이버앱 알림으로 알려드리겠습니다. 네이버페이 주문번호 결제수단 결제금액 X 주문 내역 Payment Processing "너 아메리카 12469467 신용카드 14,000 No.12469 5,500 LIVE COW BANGTA NAVER Live Commerce#13Metaverse Zepeto D3244 you doing if you're happy Wow haha today's video legend Today's video just can't be expressed in words.. Ouch! Jungwon is the best T.T My heart K-POP Community Weverse 오늘의 파산보다 WERE 브랜드 JOAYS 오늘의 브랜드 소식 WOMEN A K-Fashion / K-Beauty Commerce NAVER#14Strategic rationale Ⓒ Re-commerce is a large, fast-growing and dynamic market 2 Builds new retail format with "social graph," more accurate than any other personalization algorithm 3 Transaction expected to - Develop "Simpler" buyer-seller journey powered by NAVER's search and Al technology - Amplify "Social" user experience driven by NAVER's live commerce and community enablement - Contribute to "Sustainable" society and economy with NAVER and Poshmark's big bet on ESG 4 Complementary asset that broadens and strengthens NAVER's community + commerce Ⓒ Accelerate path to profitability via NAVER's proven playbook with an asset-light business Combination positioned to create a unique global re-commerce footprint#15Ⓒ Re-commerce is a large, fast-growing and dynamic market U.S. online re-commerce market growth $63B 2021 $80B 2022E +20% $97B 2023E $113B 2024E $130B 2025E 2.1x 1.8x 16x 1.3x 1.0x Growth by market dimension INDEX RELATIVE TO 2021 2021 2022E Includes most product categories Apparel (including Jewelry, Shoes, and Accessories), Electronics, and Home (including Furniture). excludes entire rental market and used car sales/Source: Activate reCommerce Consumer Survey, Activate analysis 2023E 2024E Total Online Re-commerce TAM 2.05x Total Online Re-commerce Buyers 1.39x Annual Orders/ Buyer 1.22x Avg Online Order Value 1.21x 2025E#162 Build new retail format with "social graph," more accurate than any other personalization algorithm Put people at the heart of commerce Everyone can discover personalized and customized taste with the "social graph" Hyper-engaged and diversified community Sellers become buyers and buyers become sellers w Empowering anyone to thrive From individual and influencer sellers to professional sellers, brands and specialty boutiques#173 Transaction expected to: NAVER POSHMARK Develop "Simpler" buyer-seller journey powered by NAVER's search and Al technology Amplify "Social" user experience driven by NAVER's live commerce, community enablement Contribute to "Sustainable" society and economy with NAVER and Poshmark's big bet on ESG#184 Complementary asset that broadens and strengthens NAVER's community + commerce POSHMARK Needs Generation Discovery & Browsing Discovery-based shopping + Vertical marketplace Fashion and living focused MZ Generation Sensitive to trends and have strong personal taste Individual Sellers +4.5M Search NAVER Compare Search-based shopping Horizontal marketplace Across groceries, electronics, and commodities, etc. MX Generation Pursuing more reasonable purchases SME and Brand Sellers +500K Purchase#195 Accelerate path to profitability via NAVER's proven playbook with an asset-light business Scaled Leadership Strong historical performance with robust growth across all KPIs 2021 GMV 2021 Revenue Revenue CAGR (19-21) Positive adjusted EBITDA ~$1.8B ~$326M ~26% 2021 Strong Financial Merits Going Forward Accretive to go-forward growth with clear path to profitability Target near-term revenue CAGR Run rate cost synergies within 24 months post-closing Positive adjusted EBITDA contribution with synergies 20%+ $30M | 2024#206 Combination positioned to create a unique global re-commerce footprint POSHMARK Both U.S. NAVER South Korea LINE Japan, Taiwan, Hong Kong, Thailand, Singapore, Indonesia, Vietnam Canada, Australia, UK, India NAVER 36M+ Daily Users LINE 193M+ Global MAU#21NAVER POSHMARK