HYUNDAI MOTOR COMPANY (HMC)

Corporate Disclosure to Korea Exchange

Disclosure Title  :  Retirement of Shares

1.    Number of stocks to be retired :   2,136,681 common shares

632,707 preferred shares

2.    Total number of shares issued :   213,668,187 common shares

63,270,871 preferred shares

3.    The par value of the share   :    KRW 5,000

4.    Expected retirement amount :  KRW 315,411,545,286

5.    Scheduled period of share acquisition for Retirement : -

6.    Method of acquisition of shares for Retirement : Retained treasury shares

7.    Scheduled date of share retirement : February 3, 2023

8.    Securities firms commissioned : -

9.    Date of board decision      :               January 26, 2023

* 6 independent directors were present for the board decision.

10.  Notes

a. Treasury shares are acquired using retained earnings. Therefore, paid-in capital is unchanged.

b. Legal basis : Korean Commercial code article 343, Section 1

c. (No.1) Preferred shares include 243,566 shares of preferred 1, 364,854 shares of preferred 2, and 24,287 shares of preferred 3.

d. The "Expected retirement amount" has been calculated by multiplying the number of shares to be retired by the average acquisition price of the shares.

e. (No.7) Scheduled date of share retirement is subject to change.

f. (No.9) Audit committee consists of all independent directors (All attended).