▶ 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.

▶ Demonstrates Industry-Leading ESG Capabilities ▶ Recognized for Becoming the First in the Korean Construction Equipment Industry to Achieve RE100 at Overseas Operations ▶ Continues Efforts to Achieve RE100 by 2040 and Carbon Neutrality by 2050 HD Construction Equipment has demonstrated its industry-leading environmental, social, and governance (ESG) management by earning the highest rating in the CDP climate change response category. On Friday, December 26, 2025, HD Hyundai Construction Equipment and HD Hyundai Infracore, which will officially merge as HD Construction Equipment in January 2026, announced that they had achieved the top "A" rating in the climate change response category from the Carbon Disclosure Project (CDP), a leading sustainability evaluator. CDP is an international non-profit organization that mandates major global companies to disclose information on their environmental management, including climate change and water security, and evaluates this data. As of 2024, only around 20 Korean companies have received an A rating. Alongside the Dow Jones Sustainability Index (DJSI), CDP ratings are among the most authoritative indicators of a company's ESG management. In this evaluation, HD Hyundai Construction Equipment improved from last year's A- rating to achieve the highest possible score, reflecting its significant efforts to reduce carbon emissions. Key accomplishments include: ▲achieving RE100 at its Brazilian site, ▲introducing an internal carbon pricing system, and ▲expanding ESG initiatives to include a broader range of suppliers within its supply chain. Notably, its Brazilian facility secured a total of 5,797 MWh of renewable energy by signing a Power Purchase Agreement (PPA) with a hydroelectric power supplier and by using International Renewable Energy Certificates (I-RECs). This made it the first company in Korea's construction machinery industry to achieve RE100 at an overseas site. HD Hyundai Infracore has significantly boosted its renewable energy procurement, tripling last year’s figures through self-generated solar power and new power purchase agreements. Additionally, its focus on enhancing board expertise has helped it retain an A rating for the second consecutive year. An official from HD Construction Equipment remarked, “Achieving the highest CDP rating reflects our global carbon reduction efforts,” and added, “We will continue to work towards a sustainable future.” HD Construction Equipment is committed to increasing its use of renewable energy throughout its global operations, with the Ulsan campus playing a central role in this initiative. The company is implementing a strategic roadmap to achieve its RE100 goal by 2040 and aims for carbon neutrality by 2050.

▶ Chosen directly by readers of a trade magazine focused on material handling products and customers in North America ▶ Equipped with a high-voltage battery, delivering performance comparable to diesel forklifts ▶ Plans to launch large electric forklifts to electrify heavy-duty work sites  HD Hyundai XiteSolution is excited to announce that its new mid-size electric forklift model has won the Readers' Choice Products of the Year award from Material Handling 24/7. This electric forklift, which weighs between 4 and 9 tons, was recognized in the forklift category at the prestigious Readers' Choice Products of the Year awards ceremony organized by Material Handling 24/7. This publication is a leading source in North America focused on the logistics and material handling industry. As the top trade publication in the forklift sector, Material Handling 24/7 honors outstanding products each year across 15 categories, with winners determined through reader voting. This year’s award is based on evaluations from industry professionals, including logistics center operators, equipment buyers, and drivers, underscoring that HD Hyundai XiteSolution's new electric forklift has been recognized for its outstanding performance and reliability in real-world operating conditions. The new electric forklift features a 300V high-voltage battery and a high-efficiency permanent magnet motor, providing power and driving performance on par with internal combustion engine forklifts in the same class. Notably, it is the first high-voltage electric forklift for sale in North America to obtain Underwriters Laboratories (UL) safety certification, significantly enhancing its safety and reliability. Most competing products, including those from China, are limited to 80V-class batteries, which do not deliver sufficient power compared with internal combustion engines. Customers can choose from a range of battery capacities based on their work environment and budget, enabling broad applicability—from sites requiring high-performance operations to those prioritizing cost efficiency. Charging options include fast charging and multi-charging, enabling a single charger to power multiple units and greatly enhancing on-site usability. Launched in the second half of this year, the new mid-sized electric forklift model has already secured over 110 orders in North America and Europe, reflecting strong market demand. Song Hee-joon, CEO of HD Hyundai XiteSolution, stated, “This award recognizes the technological prowess and product excellence of our new electric forklift in advanced markets.” He added, “We will lead the electrification shift in heavy-duty work sites by launching large-capacity electric forklifts over 10 tons in the future.”