Sk Hynix Inc S/Gdr 144A

This is Park Sung Hwan, head of IR at SK Hynix. Welcome to the SK Hynix 2026 first quarter earnings release conference call. Allow me to introduce the executives present here with me today. We are joined by CFO Kim Woo Hyun, head of DRAM marketing Park Jun Deok, head of NAND marketing Song Chang Seok, and HBM sales and marketing head Kim Ki Tae. Let me issue a disclaimer that our first quarter results included in this conference call are consolidated figures and provisional in nature as the external auditor's review has not yet been completed. Accordingly, they remain subject to change. In addition, forward-looking statements including market outlook and the company's plans may vary depending on changes in macroeconomic and market circumstances. With that, we will now begin SK Hynix earnings release conference call for first quarter of 2026. CFO Kim Woo Hyun will first present the earnings, followed by the company's future plans and market outlook, and a Q&A session with the attending executives.

Good morning, everyone.

This is CFO Kim Woo Hyun. Allow me to first introduce the company's performance for the first quarter of 2026. Although the first quarter is typically a seasonally slow period, robust demand driven by expanding AI infrastructure investment more than offset seasonality, and the supply environment remained tight. As a result, prices for both DRAM and NAND rose meaningfully, led in particular by server DRAM and enterprise SSDs.