GRVY Gravity Co Ltd

Seoul, South Korea – September 22, 2022 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, today announced that its subsidiary in Indonesia, PT Gravity Game Link (“GGL”), has officially launched Ragnarok Labyrinth NFT in global on September 22, 2022.

Ragnarok Labyrinth NFT applies P2E system to The Labyrinth of Ragnarok, a mobile Time Effective MMOPRG game, and the game is the first NFT title using Ragnarok IP which has high recognition globally including Southeast Asia.

Over 1 million downloads have been reached on the first day of its re-opening in South East Asia on April 27, 2022, and the game ranked as the second and the third in the top-grossing of Apple App Store in Thailand and the Philippines, respectively. The game also ranked first in the best new free games on Google Play Store in the Philippines.

PT Gravity Game Link (“GGL”), Gravity’s subsidiary in Indonesia, is publishing The Ragnarok Labyrinth NTF in global excluding only few countries such as China, Japan, and Korea. The publisher will provide users with a variety of events including in-game items and On-buff points.

[Ragnarok Labyrinth NFT_Facebook] https://www.facebook.com/TheLabyrinthofRagnarok/

About GRAVITY Co., Ltd. ---------------------------------------------------

Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:

Mr. Heung Gon Kim Chief Financial Officer Gravity Co., Ltd. Email: kheung@gravity.co.kr

Ms. Somin Kim Ms. Jeesun Lim IR Unit Gravity Co., Ltd. Email: ir@gravity.co.kr Telephone: +82-2-2132-7800