SOOP ESG2021

Board Composition

The board oversees and resolves key business issues and represents stakeholders for sustainable growth. As of March 2022, the Board was composed of two executive directors and one outside director. A standing auditor was appointed by a resolution of the general meeting of shareholders to hold the management and the board in check.

Board Independence and Transparency

AfreecaTV ensures the independence of the Board by appointing outside directors pursuant to the stipulations of Article 382 of the Commercial Act. A standing auditor is appointed by a resolution of the general meeting of shareholders to carry out audit works and hold the Board in check.

Changes in the board composition and resolution items are disclosed in the quarterly reports, and the activities and renumeration of the board are disclosed transparently in the annual business report.

Major disqualifications for outside directors

01

Directors, executive directors and employees who are engaged in the regular business of the relevant company, or directors, auditors, executive directors and employees who have engaged in the regular business of the relevant company within the previous two years

02

The largest shareholder, his/her spouse, lineal ascendants, and lineal descendants, in cases where the largest shareholder is a natural person

03

Directors, auditors, executive directors and employees of the corporation, in cases where the largest shareholder is a corporation

04

The spouses, lineal ascendants, and lineal descendants of directors, auditors and executive directors

05

Directors, auditors, executive directors and employees of a parent company or a subsidiary company of the relevant company

06

Directors, auditors, executive directors and employees of a corporation which has a significant interest in the relevant company, such as business relations with the company

07

Directors, auditors, executive directors and employees of another company for which a director, executive director or employee of the relevant company serve as a director and executive director

Board Expertise

To secure board expertise, AfreecaTV appoints experts with knowledge in relevant areas (e.g., information media, the press, platform business, entertainment, etc.) and practical experience as outside directors. Board members are provided with briefings as needed on report items and key management information. AfreecaTV operates a task force to support outside directors in the execution of their professional duties and briefings. We will continue to support our outside directors in various ways to enhance their expertise and ensure rational decision-making.

Fields of expertise

Activities of the Board of Directors

The board of directors makes resolutions on material matters and overseas the execution of duties of the directors and management pursuant to relevant laws and internal regulations. The board convenes on a regular basis as per the annual operation plan, and extraordinary meetings are held as needed. In 2021, the board convened three times to discuss five report items and ten agenda items. The attendance rate of the board in 2021 was 100%. Relevant materials are provided prior to board or committee meetings to allow for sufficient review. The board reported on and resolved the appointment of an outside director and the standing auditor, the publication of the ESG Report, the revision of the Articles of Incorporation, and other key managerial matters in 2021.

• • Number of board meetings
  • (unit: times)
  2021 3

  2020 4

  2019 5
• • Board meeting attendance
  • (unit: %)
  2021 100

  2020 100

  2019 100

ESG Committee and Consultative Body

AfreecaTV established the ESG Committee under the board in 2022. The ESG Committee resolves and reports on matters related to the company’s ESG management plans and performances. In July 2022, AfreecaTV established the Social Impact Group, an ESG workinglevel consultative body composed of the CTO, division heads, and department heads, to add to the momentum of ESG management. By doing so, we have successfully built an organic ESG system involving the board and working-level teams, which is the basis of the company’s differentiated ESG management.

Shareholdings of Board Members

One member of the management (executive director) holds the following shares in AfreecaTV.

* Since March 31, 2021, the number of shares held with voting rights has changed as above due to the exercise of stock options and pit trading.