Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the WEBTOON Securities Litigation

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the WEBTOON Securities Litigation:

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF CALIFORNIA

WESTERN DIVISION

TO: All persons and entities who purchased or otherwise acquired WEBTOON Entertainment Inc. (“WEBTOON”) stock pursuant or traceable to the Registration Statement issued in connection with WEBTOON’s June 27, 2024 initial public offering (“IPO”)

PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL

BE AFFECTED BY A PENDING CLASS ACTION LAWSUIT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Central District of California that the above-captioned action (“Action”) has been provisionally certified as a class action for the purposes of settlement, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the Stipulation and Agreement of Settlement dated August 7, 2026 (“Stipulation”) and the detailed notice for the Settlement (“Notice”). The Stipulation and the Notice can be viewed on the website www.WEBTOONSecuritiesSettlement.com.

YOU ARE ALSO NOTIFIED that the parties to the Action have reached a proposed settlement (“Settlement”) in the amount of $10.05 million in cash. If approved, the Settlement will resolve all claims in the Action.

A hearing will be held in the Action on December 1, 2026, at 10:00 a.m., before the Honorable Consuelo B. Marshall, United States District Court Judge for the Central District of California, either in person at the Felicitas and Gonzalo Mendez United States Courthouse, 350 W. 1st Street, Los Angeles, California 90012, in Courtroom 8D, 8th Floor, or by telephone or videoconference (in the discretion of the Court), to determine whether: (i) for purposes of settlement, the Action should be certified as a class action on behalf of the Settlement Class and Lead Plaintiff Dr. Byung-Gon Sung (“Plaintiff”) and Lead Counsel Robbins Geller Rudman & Dowd LLP should be appointed as class representative and class counsel, respectively, for the Settlement Class; (ii) the Settlement should be approved as fair, reasonable, and adequate; (iii) the Action should be dismissed with prejudice against Defendants, and the releases specified and described in the Stipulation (and in the Notice described below) should be entered; (iv) the proposed Plan of Allocation for the net proceeds of the Settlement should be approved as fair and reasonable; and (v) Lead Counsel’s application for an award of attorneys’ fees and expenses and a compensatory award to Plaintiff should be approved. Any updates regarding the hearing, including any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the website for the Settlement, www.WEBTOONSecuritiesSettlement.com.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement proceeds. This notice provides only a summary of the information contained in the detailed Notice for the Settlement. You may obtain copies of the Notice, along with the Claim Form, on the website for the Settlement, www.WEBTOONSecuritiesSettlement.com. You may also obtain copies of the detailed Notice and Claim Form by contacting the Claims Administrator at WEBTOON Securities Settlement, Claims Administrator, c/o Verita Global, P.O. Box 301135, Los Angeles, CA 90030-1135.

If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked (if mailed), or online at www.WEBTOONSecuritiesSettlement.com, no later than December 14, 2026, in accordance with the instructions set forth in the Claim Form. If you submit a Claim Form, your eligibility to receive a payment will be assessed in connection with the Settlement. If you are a member of the Settlement Class and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement, but you will nevertheless be bound by any releases, judgments, or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than November 10, 2026, in accordance with the instructions set forth in the detailed Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any releases, judgment, or orders entered by the Court in the Action, and you will not be eligible to share in the net proceeds of the Settlement. Excluding yourself is the only option that may allow you to be part of any other current or future lawsuit against Defendants or any of the other released parties concerning the claims being resolved by the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation (as contained in the Notice), and/or Lead Counsel’s motion for attorneys’ fees and expenses, must be filed with the Court and delivered to the respective counsel at the addresses and in the forms specified in the detailed Notice such that they are received no later than November 10, 2026, in accordance with the instructions set forth in the detailed Notice.

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR THEIR COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to the counsel set forth below or the Claims Administrator.

Requests for the detailed Notice and Claim Form should be made to the Claims Administrator:

WEBTOON Securities Settlement

Claims Administrator

c/o Verita Global

P.O. Box 301135

Los Angeles, CA 90030-1135

info@WEBTOONSecuritiesSettlement.com

1-888-808-1914

Inquiries, other than requests for the detailed Notice and Claim Form, may be made to Lead Counsel as follows:

Ellen Gusikoff Stewart, Esq.

Robbins Geller Rudman & Dowd LLP

655 West Broadway, Suite 1900

San Diego, CA 92101

1-800-449-4900

settlementinfo@rgrdlaw.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928478303/en/

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