▶Chairman Chung attends 2026 World Economic Forum Annual Meeting for fourth consecutive year ▶Discusses AI-driven transformation and innovation in energy transition at key sessions  ▶Met with Palantir co-founder and CEO Alex Karp to discuss expansion of strategic partnership HD Hyundai Chairman Chung Kisun attended the 2026 World Economic Forum (WEF) Annual Meeting, also known as the Davos Forum, in Davos, Switzerland, where he discussed the future of artificial intelligence (AI) and the energy industry. The Davos Forum brings together leaders from government, business and academia from around the world to address global challenges and explore its solutions. This year’s meeting runs from January 19 to 23 under the theme “A Spirit of Dialogue.” Chairman Chung first attended the forum in 2023 and is participating for the fourth consecutive year. At this year’s forum, Chairman Chung attended key official sessions and held wide-ranging discussions with global leaders on industry transformation driven by AI; the growing importance of accessibility, resilience and AI as core pillars of the energy transition; and the risk of a slowdown in global growth amid geopolitical shifts, along with strategies to address those challenges. Chairman Chung is also scheduled to attend the Oil & Gas Governors meeting, following his participation last year, to exchange views on changes in the global energy market, the energy transition, energy security and technological innovation.  On the second day of the forum, January 20, local time, he met with Alex Karp, co-founder and CEO of Palantir Technologies, and agreed to expand the strategic partnership between HD Hyundai and the global enterprise AI company. With the expanded partnership, HD Hyundai plans to further its existing collaboration with Palantir and broaden cooperation across the group, including key affiliates such as HD Hyundai Electric, HD Hyundai Robotics and HD Hyundai Marine Solution, as it accelerates its digital transformation. Since 2021, beginning with HD Hyundai Oilbank, the group has deployed Palantir’s big data solutions and Artificial Intelligence Platform (AIP) across its core businesses, including shipbuilding and offshore operations, energy and construction equipment, establishing a data-driven decision-making framework. “This expanded strategic partnership marks an important turning point in connecting data and workflows across HD Hyundai into a single, cohesive system—enabling faster and more sophisticated decision-making” said Chung Kisun, Chairman of HD Hyundai. He added, “Palantir is a partner with globally proven capabilities in data integration, operational optimization, and AI-driven analytics, and will add strength in executing HD Hyundai’s digital transformation.” “HD Hyundai is a pioneering force in global industry, and the significant expansion of our partnership marks an exciting new chapter,” said Dr. Alex Karp, co-founder and CEO of Palantir Technologies. “We are committed to advancing our strategic collaboration and driving the group’s competitiveness, and we look forward to continue building together.” Looking ahead, HD Hyundai plans to jointly establish a Center of Excellence with Palantir to systematically embed advanced data analytics and artificial intelligence capabilities across the organization, while securing sustainable growth engines to support AI-driven innovation.  

▶ Major orders in emerging markets, including 120 units in Ethiopia, 71 units in Vietnam, and 41 units in Kyrgyzstan ▶ Maximizing dual brand sales power by establishing global partner networks for “HYUNDAI” and “DEVELON” ▶ CEO Moon Jae-young states, “We will achieve a market-beating performance through integrated synergy,” at an investor conference on January 15. HD Construction Equipment, the unit overseeing HD Hyundai's construction equipment business, signaled a smooth start toward achieving this year's sales target by securing a major order following its launch. HD Construction Equipment announced on Wednesday, January 14 that it had recently concluded a contract to supply 120 large excavators to Ethiopian mining development companies in Africa. The equipment to be supplied will include 70 units of 36-ton DEVELON excavators and 50 units of 34-ton HYUNDAI excavators to be deployed to the Ethiopian gold mine.  HD Construction Equipment recorded an 80% share of the Ethiopian excavator market last year, solidifying its position as the top local company through unrivaled product competitiveness and customer service.    Sales of HD Construction Equipment's 30-ton class mid- to large-sized excavators doubled every year over the past three years as they feature stability and durability suitable for resource development environments in Ethiopia and other African regions and offer maneuverability and fuel efficiency as well.    HD Construction Equipment plans to reinforce its customer support centered on local bases in Ghana and South Africa by leveraging the sales synergies of HYUNDAI and DEVLON—which have built strong brand recognition in Africa—and by establishing a cooperative system to respond to the growing demand for equipment in major countries.  HD Construction Equipment also received major orders in Southeast Asia and Commonwealth of Independent States (CIS), which are key global emerging market regions.  The company recently received an order for a total of 71 units from the Vietnamese government, including 20 units of 20-ton wheeled excavators for emergency disaster response and 51 units of 20–30 ton crawler excavators to be deployed in national infrastructure expansion projects.  Additionally, it agreed to supply 41 units, comprising 52-ton large excavators and 38-ton medium-large excavators for the transportation network and real estate construction in Kyrgyzstan, a Central Asian country. Meanwhile, HD Construction Equipment announced its performance forecast including annual sales and operating profit targets for 2026 through a public disclosure on Wednesday, January 14 and held a conference with domestic and foreign institutional investors at the Korea Teachers’ Credit Union in Yeouido.  At the conference, HD Construction Equipment presented sales and operating profit targets of KRW 8.7218 trillion and KRW 439.6 billion, respectively, for 2026. "We aim to deliver performance results exceeding market growth by rapidly implementing our mid- to long-term strategy and leveraging integration synergies. We will also proactively engage in facility investment and R&D to establish core competitive advantages for our construction machinery operations," said HD Construction Equipment CEO Moon Jae-young, who personally presented the forecast.

▶ Hyundai Construction Equipment and HD Hyundai Infracore merged on January 1st, with Moon Jae-young serving as the first President. ▶ The company is establishing global production systems for its brands HYUNDAI and DEVELON to maximize sales and cost competitiveness. ▶ Chairman Chung Ki-sun stated, “I anticipate that HD Construction Equipment will become our next 'Global No. 1,’ by restructuring its production, quality, and sales.”  HD Construction Equipment, formed by the merger of HD Hyundai Construction Equipment and HD Hyundai Infracore, announced an ambitious launch on New Year’s Day. On January 1st, HD Hyundai held the launch ceremony for HD Construction Equipment at its Ulsan campus. The event marked the successful completion of all merger procedures between its construction equipment subsidiaries. It was attended by Chairman Chung Ki-sun, Vice Chairman Cho Young-cheul, President Moon Jae-young, and approximately 200 executives and employees. The merger of Korea's two largest construction machinery companies has created HD Construction Equipment, the country's largest comprehensive construction machinery firm, with annual sales of 8 trillion won. The company operates production facilities in Ulsan, Incheon, and Gunsan, as well as in various international locations, including India, China, Brazil, and Norway. Moon Jae-young has been appointed as the company's inaugural President. The company aims to achieve sales of 14.8 trillion won by 2030, a 95% increase from 2024. As of 2025, HD Construction Equipment is ranked 14th globally. The company will focus on growth across all business areas, with particular emphasis on its core construction equipment sector, its highly profitable engine business, and aftermarket (AM) services. Specifically, HD Construction Equipment intends to leverage synergies between its two construction equipment brands, HYUNDAI and DEVELON, to establish them as globally recognized top-tier brands.  To achieve this, it will establish a global production system that enhances the benefits of a dual-brand strategy while maintaining world-class production competitiveness. The rollout of the next-generation model will be key to expanding global market share. This new model showcases technological advancements of HD Hyundai’s construction equipment division. Following successful launches in Korea and Europe, it is set to debut in North America—the world's largest market—during the first half of this year. The next-generation model is a smart excavator that delivers improved fuel efficiency and productivity, equipped with an advanced Full Electro-Hydraulic (FEH) system. HD Construction Equipment also plans to significantly improve the cost competitiveness of this next-generation model. This will be achieved by minimizing overlap in product lineups, focusing on each brand's flagship products, and leveraging economies of scale in shared costs such as procurement and logistics. By leveraging its sales and A/S networks, the company aims to accelerate market penetration. Additionally, it plans to identify new growth opportunities by expanding its engine business into sectors such as power generation, defense, and eco-friendly energy sources, while also developing its compact construction equipment line to meet the demands of advanced markets, ensuring balanced growth. At the launch of HD Construction Equipment, HD Hyundai Chairman Chung Ki-sun encouraged the newly integrated company to take the lead in the industry. He stated, "I anticipate that HD Construction Equipment’s relentless pursuit of excellence will facilitate its entry into emerging markets and drive the development of next-generation models. By restructuring production, quality, and global sales, we aim for you to become our next 'Global No. 1,' following the success of our shipbuilding business." The current stock of HD Hyundai Construction Equipment will continue to trade without interruption; however, its ticker symbol will change to HD Construction Equipment. Trading of HD Hyundai Infracore stock was halted on December 29, 2025. New shares of HD Construction Equipment will be issued to former shareholders of HD Hyundai Infracore, with trading expected to begin on January 26, 2026.