24 October 2024

HYUNDAI MOTOR COMPANY

NOTICE OF INTENTION TO DELIST ITS GLOBAL DEPOSITARY RECEIPTS AND GLOBAL DEPOSITARY SHARES AND TO TERMINATE THE DEPOSIT AGREEMENTS

Hyundai Motor Company (Company) announces today that, as part of a simplification project across multiple jurisdictions and following a comprehensive review of the cost to maintain global depositary receipts compared to the effectiveness of it, taking into consideration the low trading volume and reduction in remaining volume due to the conversion of global depositary receipts to underlying share, it has resolved in a meeting of the board of directors of the Company held today to cancel the listing and admission to trading of its global depositary receipt programmes currently admitted to trading on the London Stock Exchange and the Luxembourg Stock Exchange.

Delisting from the London Stock Exchange (ISIN USY384721251)

Hyundai Motor Company ("Company") refers to its global depositary receipts (ISIN USY384721251), which are admitted to listing on the Official List of the UK Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities of the London Stock Exchange (the "LSE") (such admission to listing and to trading, the "LSE Listing" and such global depositary receipts, the "London GDRs").

The Company has today requested (i) the FCA to cancel the listing of the London GDRs on the Official List of the FCA, and (ii) the LSE to cancel the admission to trading of the London GDRs on the main market for listed securities of the LSE (collectively, the "LSE Delisting").

Pursuant to UK Listing Rule 21.2.17R, the Company is required to give at least 20 business days' notice of the intended LSE Delisting. It is intended that the LSE Delisting will become effective from 8:00 a.m. (London time) on December 19, 2024, such that the last date of trading of the London GDRs on the LSE will be December 18, 2024.

Following the LSE Delisting, it will no longer be possible to trade the London GDRs on the LSE.

Delisting from the Luxembourg Stock Exchange (ISINs US4491877076, USY384721251, and US4491875096)

Hyundai Motor Company ("Company") refers to the following securities listed on the official list of the Luxembourg Stock Exchange ("Lux Official List") and admitted to trading on the regulated market ("Lux Regulated Market") of the Luxembourg Stock Exchange ("LuxSE")

-     Global depositary shares with ISIN US4491877076 as called "HyundaiMotor ord GDS" on the website of the LuxSE ("GDS");

-     Global depositary receipts with ISIN USY384721251 as called "HyundaiMotor priv1 GDR" on the website of the LuxSE ("GDR 1"); and

-     Global depositary receipts with ISIN US4491875096 as called "HyundaiMotor priv2 GDR" on the website of the LuxSE ("GDR 2" and together with the GDS and the GDR 1, the "Luxembourg Securities" and together with the London GDRs, the "GDRs").

Simultaneously with the LSE Delisting, the Company is also in the process of delisting its Luxembourg Securities (the "Luxembourg Delisting", and together with the LSE Delisting, the "Delistings") and to remove the Luxembourg Securities from the Official List of the LuxSE and withdraw the Luxembourg Securities from trading on the Lux Regulated Market (the "Withdrawal").

Based on the Termination Date (as defined below), the last date of trading of the Luxembourg Securities on the LuxSE will be December 18, 2024 and it is intended that the Luxembourg Delisting will become effective on December 19, 2024.

Details of GDRs

As at October 18, 2024, the Company had the following numbers of GDRs in issue:

-     45,214 GDS with ISIN US4491877076 (representing 22,607 common shares in the Company);

-     5,736,856 GDR 1 with ISIN USY384721251 (representing 2,868,428 preferred shares in the Company); and

-     582,332 GDR 2 with ISIN US4491875096 (representing 291,166 second preferred shares in the Company).

Termination of Deposit Agreements

The Company has delivered notices to Citibank, N.A. (the "Depositary"), as depositary for the GDRs in order to terminate each of the deposit agreements relating to its global depositary receipt programmes (collectively, the "Deposit Agreements"). The termination date of the Deposit Agreements will be December 19, 2024 (the "Termination Date").

Prior to the Termination Date, holders may cancel their GDRs and, subject to the payment of surrender fees and otherwise in accordance with the Deposit Agreements, receive the relevant number of underlying shares represented by the GDRs they hold. If any GDRs remain outstanding after the Termination Date, the Depositary shall not, after the Termination Date, have any obligation to perform any further acts under the Deposit Agreements, except that the Depositary will continue to (i) collect dividends and other distributions pertaining to the deposited securities, (ii) sell securities and other property received in respect of deposited securities, (iii) deliver deposited securities, together with any dividends or other distributions received with respect thereto and the net proceeds of the sale of any securities or other property, in exchange for GDRs surrendered to the Depositary (after deducting or charging, as the case may be, in each case, the fees and charges of, and expenses incurred by, the Depositary, and all applicable taxes or governmental charges for the account of the holders and beneficial owners), and (iv) take such actions as may be required under applicable law in connection with its role as Depositary under the Deposit Agreements.

At any time six months after the Termination Date, the Depositary may sell the deposited securities then held under the Deposit Agreements and shall after such sale hold un-invested the net proceeds of such sale, together with any other cash then held by it under the Deposit Agreements, in an un-segregated account and without liability for interest, for the pro-rata benefit of the holders whose GDRs have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations under the Deposit Agreements except (i) to account for such net proceeds and other cash (after deducting or charging, as the case may be, in each case, the fees and charges of, and expenses incurred by, the Depositary, and all applicable taxes or governmental charges for the account of the holders and beneficial owners) and (ii) as may be required in connection with the termination of the Deposit Agreements.

After the Termination Date, the Depositary will not perform any further acts under the Deposit Agreements except as described above, and, for the avoidance of doubt, no deposits of Shares into the GDR program will be accepted. The Depositary will not exercise any voting rights with respect to the Shares while they are held by the Depositary following the Termination Date.

Holders of GDRs are urged to consult their own investment advisors and brokers for more information on the actions that can be taken in respect of their holdings of GDRs.

Hyundai Motor Company

IR Team

Email:  ir@hyundai.com

Phone: 82-2-3464-2244