HYBE Co. (352820.KS): 2Q26 review; OP beat on stronger revenue across the board; Buy

Research evidence excerpt

HYBE Co. (352820.KS): 2Q26 review; OP beat on stronger revenue across the board; Buy

credit institution incorporated in Germany and, within the Single Supervisory

Mechanism, subject to direct prudential supervision by the European Central Bank and in other respects supervised by German Federal Financial

Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and Deutsche Bundesbank and disseminates research within the

European Economic Area.

General disclosures

This research is for our clients only. Other than disclosures relating to Goldman Sachs, this research is based on current public information that we

consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates and

forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as

appropriate, but various regulations may prevent us from doing so. Other than certain industry reports published on a periodic basis, the large majority

of reports are published at irregular intervals as appropriate in the analyst’s judgment.

Goldman Sachs conducts a global full-service, integrated investment banking, investment management, and brokerage business. We have investment

banking and other business relationships with a substantial percentage of the companies covered by Global Investment Research. Goldman Sachs & Co.

LLC, the United States broker dealer, is a member of SIPC (https://www.sipc.org).

Our salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies to our clients and principal

trading desks that reflect opinions that are contrary to the opinions expressed in this research.