<html><head><meta name="GENERATOR" content="TAGFREE Active Designer"><meta http-equiv="Content-Type" content="text/html; charset=utf-8"><title></title></head><body><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><span style="color: rgb(128, 128, 128); font-family: 돋움;"><strong>- The largest scale among projects that Korean builders have won in the EU</strong></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><br><span style="color: rgb(128, 128, 128); font-family: 돋움;"><strong>On May 11 (local time),</strong> HEC signed a contract for Polimery Police PDH/PP plant project in Poland with a size of 992.8 million euros (approximately 1.288 trillion won). </span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><span style="color: rgb(128, 128, 128); font-family: 돋움;"><br></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><span style="color: rgb(128, 128, 128); font-family: 돋움;">This contract marks the largest petrochemical plant construction project in Poland, and Korea’s biggest scale project won with a European Union (EU) member country, <span style="color: rgb(128, 128, 128); font-family: 돋움;">setting a new milestone in the Korean history of winning overseas projects.</span></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><br><span style="color: rgb(128, 128, 128); font-family: 돋움;">The project is to construct Polypropylene (PP) production facilities and infrastructure in the Police region, about 460 km northwest of the Polish capital Warsaw. The <span style="color: rgb(128, 128, 128); font-family: 돋움;">construction period is 40 months.</span></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><br><span style="color: rgb(128, 128, 128); font-family: 돋움;">The finished plant will have the production capacity of 400,000 tons of polypropylene per year. The produced polypropylene is expected to be widely used in industrial <span style="color: rgb(128, 128, 128); font-family: 돋움;">fields such as automobile parts, artificial fibers and various kinds of necessities and contribute greatly to the economic development of Poland.</span></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><br><span style="color: rgb(128, 128, 128); font-family: 돋움;">On the day before the ceremony, on May 10, HEC also signed the Investment Cooperation Agreement (ICA) on the equity investment for this project with Korea Overseas <span style="color: rgb(128, 128, 128); font-family: 돋움;">Infrastructure & Urban Development Corporation (KIND) and PDA Polska SA, the order placing entity.</span></span></p><p style="line-height: 1.5; font-family: gulim; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt;"><br><span style="color: rgb(128, 128, 128); font-family: 돋움;">This contract is recognized as a feat of HEC for successful case of demonstrating the competence of "Overseas Construction Team Korea" through the synergistic effect of <span style="color: rgb(128, 128, 128); font-family: 돋움;">HEC's excellent marketing and technological efficiency with the government policy support by way of the equity investment of KIND. In addition, this winning of the <span style="color: rgb(128, 128, 128); font-family: 돋움;">project is remarkable in that it has diversified the business areas for Korean constructors based in the EU market from plants and office buildings to petrochemical <span style="color: rgb(128, 128, 128); font-family: 돋움;">plants.</span></span></span></span></p></body></html>