Gabia is widely recognized as a leading Korean IT services and cloud infrastructure company with solid operating performance. Despite these strengths, Align Partners believes the Company continues to trade at a substantial valuation discount. Based on the closing price on February 11, 2026, Align Partners estimates that the stand-alone enterprise value of Gabia’s core business segments, excluding its listed subsidiaries, is approximately KRW 155.0 billion under a sum-of-the-parts (“SOTP”) methodology. This implies a stand-alone last-twelve-month EV/EBITDA multiple of approximately 6.0x, significantly below the peer average of approximately 12.0x.