2 Jul'19

HMM Hyunday in The Alliance 2020

Quote/unquote As released by HMM 2 nd July 2019

We are pleased to announce that Hyundai Merchant Marine will have a new beginning
with “THE Alliance” as a full member from April 2020. The members of THE Alliance have
also decided to establish a new cooperation with four members and a term until 2030. The
actions were agreed in Taipei on 19 June 2019. Subject to the necessary regulatory
approvals, the new contract between the four lines will start on 1 April 2020.

In an initiative aimed at stronger capability and leverage in the global shipping market, we
will organize closer cooperative relationship with new partners, that is, Hapag Lloyd, Yang
Ming, and Ocean Network Express ( ONE )). HMM’s participation in ‘THE Alliance’ will enable
the whole members to enjoy win win strategy working out a further development of
higher quality service a nd sales power.

HMM has ordered twelve 23,000 TEU vessels which will be delivered in the second quarter
of 2020. Additionally, eight 15,000 TEU new buildings will join HMM´s fleet in the second
quarter of 2021. HMM´s 23,000 TEU new buildings will be deployed in the Far East North
Europe trade and will further strengthen THE Alliance´s service portfolio.

HMM´s membership will significantly strengthen the competitiveness of THE Alliance
towards the other two alliances. Being a full member of THE Alliance gives us a lot of pride.
We are convinced that we will be successful and generate additional value for our
cu stomers, employees and shareholders with combined experience, strategic skills,
competitive fleet and strong focus on our clients´ needs.”