Hyundai Mobis announced its plan to maximize shareholder value, which includes improvement of the operation of the board of directors and active shareholder return strategy. Hyundai Mobis will be appointing 2 global experts who are considered leading global specialists in technological strategies in future vehicles and financial investments. This is the first time since its foundation that the company is appointing foreign independent directors, and Hyundai Mobis becomes the only company to have 2 global directors among the top 10 market value companies on the Korea Stock Exchange. Currently, the board of directors at Hyundai Mobis consists of 4 internal and 5 independent directors. Of the two foreign directors, one will replace an existing one whose term will end in March and the other will fill in the seat that has been vacant since last year. First, Hyundai Mobis decided to appoint Dr. Karl Thomas Neumann, a former CEO with experience as a professional engineer, to reinforce competitiveness in the field of technological strategy for future vehicles. Dr. Neumann is a leading expert in business & product development from Germany, encompassing not only the overall automotive industry but also the future mobility market. Currently, he is in charge of mobility, including sales, marketing and digital strategy at Evelozcity, a startup in the field of electric vehicles and new mobility solutions in California. To promote expertise in finance, Hyundai Mobis also decided to appoint Brian D. Jones as an independent director, who is an investment specialist in the U.S. Currently, he is a co-president of the US investment company, Archegos Capital Management and is well known as a leading specialist in M&A and investments. In addition to the new global directors, Hyundai Mobis also currently has a transparent management specialist (Byung-ju Lee), automotive industry specialist (Ji-soo Yu), and operation management specialist (Dae-soo Kim) as independent directors. With the new independent board members, Hyundai Mobis plans to reappoint Chairman and CEO Mong-Koo Chung as an internal director and to appoint President Chung-kook Park and Executive Vice President Hyungkeun Bae. As a result, there will be 4 internal directors including Executive Vice Chairman Euisun Chung. Hyundai Mobis will newly appoint Executive Vice Chairman Euisun Chung and President Chung-Kook Park along with the Chairman & CEO Mong-Koo Chung as CEO among these 4 internal directors, which will be approved by the resolution of the board of directors. With the three CEOs in place, responsible management will be further promoted for maximization of corporate and shareholder value. President Chung-kook Park is a bona fide engineer who served as director of Central Research Institute and America Technical Center, and head of R&D Planning and Coordination Office at Hyundai Motor Company. Executive Vice President Hyungkeun Bae is a former head of Corporate Strategy Office at Hyundai Motor Company, and is a management specialist with a financial background with abundant theoretical knowledge and who has been coordinating key management issues based on in-depth perspectives about the global business environment.

Hyundai Mobis decided to first increase the dividends from KRW 3,500 per share last year to KRW 4,000 per share. The total amount of dividend is KRW 379 billion, which is 25% of the free cash flow last year. The dividend payout ratio of 20.1% will also be maintained. The size of dividend in the next 3 years will exceed KRW 1.1 trillion.