SCHEDULE: STIC Entities Reduce DoubleDown Interactive Stake to 3.8%

STIC Special Situation Diamond Ltd. and related entities have reduced their beneficial ownership in DoubleDown Interactive Co., Ltd. to 3.8% of common shares outstanding.

Summary

• STIC Special Situation Diamond Ltd., STIC Special Situation Private Equity Fund, and STIC Investments, Inc. collectively beneficially own 94,109.35 Common Shares of DoubleDown Interactive Co., Ltd.
• These Common Shares are represented by 1,882,187 American Depositary Shares (ADSs), with each ADS representing 0.05 Common Share.
• The aggregate beneficial ownership represents 3.8% of DoubleDown Interactive's class of Common Shares.
• This percentage is based on 2,477,672 Common Shares outstanding as of December 17, 2025, as reported in the Issuer's prospectus supplement.
• This filing is Amendment No. 5 to a Schedule 13G, indicating a change in ownership from previous reports, specifically a reduction below the 5% threshold typically requiring such a filing.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a significant institutional investor reducing its stake below the 5% threshold, which can be perceived as a lack of conviction or a strategic divestment, though no specific reasons are provided.

Positives

• None identified in this routine ownership disclosure.

Negatives

• The reporting entities, STIC Special Situation Diamond Ltd. and its affiliates, have reduced their beneficial ownership in DoubleDown Interactive Co., Ltd. to 3.8%, falling below the 5% threshold that typically triggers an initial Schedule 13G filing. This reduction by a significant institutional investor could be interpreted as a negative signal regarding their outlook on the company.

Risks

• No specific risks related to the issuer's operations or financial health are disclosed in this beneficial ownership report. The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing control of the issuer.

Future Outlook

No forward-looking statements or guidance from DoubleDown Interactive Co., Ltd. are provided in this beneficial ownership filing.

Industry Context

This Schedule 13G Amendment No. 5 indicates a change in beneficial ownership by a passive institutional investor group. The reduction of their stake to below 5% suggests a partial divestment from DoubleDown Interactive. While not necessarily indicative of fundamental issues with the company, a significant institutional investor reducing its position can sometimes be viewed cautiously by the market, especially if the reasons for the divestment are not publicly known.

Stakeholder Impact

• Shareholders may react to the news of a significant institutional investor reducing its stake, potentially leading to a cautious re-evaluation of the company's stock.

Key Dates

Recommendation

The reduction in beneficial ownership by a significant institutional investor (STIC entities) to below 5% could signal a cautious outlook or a strategic divestment. While this alone does not warrant a 'sell' recommendation without further insight into the investor's rationale or the company's fundamentals, it suggests a 'hold' position is prudent for existing investors, and potential investors should exercise caution and conduct further due diligence.

Keywords

DoubleDown Interactive, DDI, STIC, Beneficial Ownership, Schedule 13G, ADSs, Common Shares, Institutional Investor, Stake Reduction