▶ Chairman Chung Kisun attends high-level roundtable at Prime Minister Modi's invitation ▶ Cooperation spans commercial and naval shipbuilding and port crane projects; joint shipyard development to be pursued ▶ "India is a key pillar of our overseas production diversification strategy, poised to become HD Hyundai's new growth engine" HD Hyundai Chairman Chung Kisun met with India’s Prime Minister Narendra Modi to discuss expanding bilateral cooperation in shipbuilding. HD Hyundai said Chairman Chung Kisun and HD Korea Shipbuilding & Offshore Engineering CEO Kim Hyungkwan attended the high-level roundtable on Wednesday, January 28, hosted by Prime Minister Modi at the Prime Minister’s official residence in New Delhi. The high-level roundtable was held as part of India Energy Week 2026, bringing together about 30 participants, including Prime Minister Modi, ministers from relevant Indian government bodies, heads of state-owned enterprises, and chief executives of global companies, to discuss avenues for cooperation. During the meeting, Chairman Chung expressed appreciation for the Prime Minister's strong commitment to fostering the shipbuilding industry and asked for continued interest and support for HD Hyundai's ongoing collaborative initiatives with India. "HD Hyundai continues to maintain close collaborative relationships with India across a wide range of areas," Chairman Chung said. "India is a key pillar of our strategy to diversify overseas production bases, and I am confident it will serve as a new engine of growth for HD Hyundai." To take part in the Indian government's Maritime Amrit Kaal Vision 2047 initiative, HD Hyundai signed a memorandum of understanding in July last year with Cochin Shipyard, India's largest state-owned shipbuilder, agreeing to cooperate across multiple areas, including design and procurement support, productivity improvements, and workforce capability development. More recently, HD Hyundai expanded its collaboration with Cochin Shipyard to include naval vessels. It has also accelerated its entry into the Indian market by signing an exclusive MOU with the government of Tamil Nadu to jointly build a shipyard and advance crane business cooperation with state-owned BEML. India has also shown strong interest in strengthening cooperation with HD Hyundai. In November last year and again in January this year, Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, and T. R. B. Rajaa, Tamil Nadu's Minister for Industries, respectively, visited South Korea to tour HD Hyundai's Global R&D Center and HD Hyundai Heavy Industries' Ulsan shipyard and discuss ways to deepen cooperation with the group. * Photo reference: The Official Website of the Prime Minister of India

▶ The first global workshop since its launch, attended by heads of overseas units and expatriates from 10 countries ▶ Discussing AI-based manufacturing innovation measures, including reviewing management plans and strategies ▶ President Moon Jae-young: "Let's leap to the global top tier as ONE TEAM" HD Hyundai’s integrated construction equipment business unit HD Construction Equipment held its first global workshop since its launch, taking strategic steps toward achieving its goals. HD Construction Equipment announced on Tuesday, January 27 that it would be holding a global workshop at its Ulsan campus for three days from January 26 to January 28. As the first official global event since the launch of the integrated corporation, the workshop drew about 90 global leaders, including President Moon Jae-young, Vice President Song Hee-jun, and heads of overseas units and expatriate assignees from 10 countries, including the U.S., Brazil, Chile, Norway, and China. This workshop, the first official global event held since the launch of the integrated corporation, was designed to strengthen One Team consciousness for leaping to the global top tier and to share management goals and strategic directions. The workshop began with a special lecture on the 2026 economic outlook and macroeconomics. Participants assessed the increasingly volatile market environment and examined the impact of exchange rate and raw material price fluctuations on business. Afterward, the participants reviewed the 2026 management plan and sector-specific strategies while discussing implementation plans to maximize synergy between HYUNDAI and DEVELON and establish the newly introduced regional system successfully. This workshop was particularly meaningful as it was held at the Ulsan Campus, a key production base for HD Construction Equipment and a smart factory transformed through an investment of approximately KRW 200 billion. Global leaders discussed the AX (AI transformation) in manufacturing, including how it can enhance production competitiveness, and toured automated production lines and digital manufacturing systems. HD Construction Equipment plans to enhance the competitiveness of its global production bases continuously through future production automation. “HD Construction Equipment’s competitiveness must be based on prompt strategy development and decision-making tailored to the characteristics of each market. Let’s unite as ‘ONE TEAM’ across national and regional boundaries and move toward becoming a global top tier,” HD Construction Equipment President Moon Jae-young stressed.

▶ Delivering the first DEVELON 40-ton next-generation model excavator to a large quarry in Sancheong County, Gyeongnam Province ▶ Improvement of 21% and 22% for maximum output and fuel efficiency, respectively, and support for AI deep learning-based pedestrian collision avoidance function ▶ Selling approximately 100 units of the next-generation new model in Korea and Europe, expanding the market base with the North American launch in March HD Construction Equipment has launched its first 40-ton DEVELON smart excavator, a next-generation model with significantly enhanced safety features and improved output and fuel efficiency. HD Construction Equipment announced on January 23 that it recently held a DEVELON DX400 Unit 1 Delivery Ceremony at a large quarry in Sancheong County, Gyeongnam Province. The equipment will be deployed at concrete aggregate mining sites. DX400 is equipped with the latest Hyundai DX08 engine, which increases maximum output and torque by 21% and 19%, respectively, compared to the existing model, featuring best-in-class performance. In particular, the application of the electronically controlled hydraulic system (FEH) delivers optimal pressure to the cylinders of each operating part, reducing energy loss and improving fuel efficiency by 22%. It also supports the Human Detection System (HDS) function to prevent safety accidents. This function uses six high-resolution cameras and AI deep learning technology to identify people and objects within a 6-meter radius, including wide-area radar to detect blind spots and alert of collision risk. The model also incorporates ergonomic design and digital technology to enhance driver convenience. A large touchscreen—1.5 times the size of the previous model—enables intuitive control of the equipment. Another addition is the digital key function, which allows remote starting and indoor temperature control via a smartphone app to reduce the hassle of preparing for work. HD Construction Equipment has recorded global sales of approximately 100 units to date since launching the next-generation Hyundai DEVELON model lineup in Korea and Europe last year. The company plans to solidify its lineup of large-scale equipment further and expand its market base through a new launch in the US market in March this year and the domestic release of a new 30-ton product in the second half of the year. The first DX400 customer cited superior power and fuel efficiency compared to the foreign equipment they had previously used as reasons for choosing the product, expressing satisfaction with the cutting-edge safety technology for accident prevention as well. “Quarries are an extreme environment with continuous high-load work, and this delivery signifies recognition of the overwhelming performance of the next-generation new model. Starting with this, we will lead the generational change in the large excavator market,” an HD Construction Equipment representative said.