HYUNDAI MOTOR COMPANY (HMC)

Corporate Disclosure to Korea Exchange

Disclosure Title : Retirement of Shares

1. Total number of shares to be retired : 2,115,315 Common shares

626,381 Preferred shares

2. Total number of shares issued : 211,531,506 Common shares

62,638,164 Preferred shares

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

4. Expected retirement amount : KRW 312,257,571,968

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 : March 27, 2024

8. Securities firms commissioned : -

9. Date of Board decision : March 21, 2024

* 7 independent directors were present for the Board decision.

10. Notes

a. This decision of retirement of shares is based on the Company's mid- to long-term

shareholder return policy which was announced on April 25, 2023.

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

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

d. (No.1) Preferred shares include 241,131 shares of Type 1 preferred shares, 361,206 shares of Type 2 preferred shares, and 24,044 shares of Type 3 preferred shares.

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

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

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