Hyundai Capital Hyundai Capital is...Hyundai Capital Investor Presentation 3Q2012

DisclaimerThese presentation materials have been prepared by Hyundai Capital Services., Inc. (“HCS or the Company”), solely for the use at this presentation andhave not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, theaccuracy, fairness or completeness of the information presented or contained in this presentation. Neither the Company nor any of its affiliates,advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in thispresentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice andits accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives make any undertaking to update any suchits accuracy is not guaranteed. Neither the Company nor any of its affiliates, advisers or representatives make any undertaking to update any suchinformation subsequent to the date hereof. This presentation should not be construed as legal, tax, investment or other advice.

Certain information and statements made in this presentation contain “forward-looking statements.” Such forward-looking statements canbe identified by the use of forward-looking terminology such as “anticipate,” “believe,” “considering,” “depends,” “estimate,” “expect,” “intend,” “plan,”“planning,”“planned,” “project,”“trend,” and similar expressions. All forward-looking statements are the Company’s current expectation of futureevents and are subject to a number of factors that could cause actual results to differ materially from those described in the forward-lookingstatements. Caution should be taken with respect to such statements and you should not place undue reliance on any such forward-lookingstatements.

Certain industry and market data in this presentation was obtained from various trade associations, and the Company have not verified such data withindependent sources. Accordingly, the Company make no representations as to the accuracy or completeness of that data, and such data involves risksand uncertainties and is subject to change based on various factors.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares or other securities of the Company and neither anypart of this presentation nor any information or statement contained therein shall form the basis of or be relied upon in connection with any contract orcommitment whatsoever. Any decision to purchase shares in any offering of shares of the Company should be made solely on the basis of theinformation contained in the offering document which may be published or distributed in due course in connection with any offering of shares of theCompany, if any.

The contents of this presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in wholeor in part, for any purpose.

Key Highlights 3Q2012

• Strong Fundamentals- Good profitability: Operating income of KRW 481 billion and an ROA of 2.4%

- Excellent asset quality: 30+ day delinquency rate of 2.3%

1

- Excellent asset quality: 30+ day delinquency rate of 2.3%

- Sound capital structure: Leverage of 5.6x and capital adequacy ratio of 14.9%

• Committed & Capable Shareholder Support- HMC showed resilient performance with global sales up 6% (YoY)

- GE Capital continues to provide committed financial and operations support

• Continuous Credit Rating Improvement• Continuous Credit Rating Improvement- JCR : upgraded rating to A+

- Moody's: upgraded rating to Baa1

- S&P: BBB+, Moody's: Baa1, Fitch: BBB+, JCR: A+, RAM: AAA

81.6%

Resilient Economic Growth and Steady Demand for New Cars

GDP Growth Rate & Unemployment Rate

3.6%

Domestic Auto Sales (‘000s)

GDP Growth Rate Unemployment Rate HMC HMC+KMC Market ShareKMC Others

2

316

413 485 493

367 351

267

279321 297

227188

76.9%

80.1%

78.2%79.9% 79.5%

81.6%

6.1%

3.6%

3.2%

3.6% 3.5%

3.0% 2.9%

1,3941,465 1,474

1,0201,1061,154

571 703 660 684

512 482

351

2008 2009 2010 2011 9M11 9M12

2.2%

0.2%

1.6%

2008 2009 2010 2011 3Q12

Source: Bank of Korea Source: KAMA

9.1%9.1%9.1%9.1%

1.5%1.5%1.5%1.5%8.8%8.8%8.8%8.8%

7.4%7.4%7.4%7.4%9.6%9.6%9.6%9.6%

7.4%7.4%7.4%7.4%8.8%8.8%8.8%8.8%

18,78818,78818,78818,78819,80619,80619,80619,806 19,95219,95219,95219,952

7.4%7.4%7.4%7.4%

Receivables Breakdown by Product (KRW Bn)

Low Risk-focused Product Portfolio3

56.8%56.8%56.8%56.8% 58.1%58.1%58.1%58.1%57.2%57.2%57.2%57.2% 57.6%57.6%57.6%57.6% 54.4%54.4%54.4%54.4%

14.8%14.8%14.8%14.8%15.8%15.8%15.8%15.8%

16.3%16.3%16.3%16.3%17.3%17.3%17.3%17.3% 18.9%18.9%18.9%18.9%

8.0%8.0%8.0%8.0%7.2%7.2%7.2%7.2%

8.4%8.4%8.4%8.4%7.9%7.9%7.9%7.9% 7.2%7.2%7.2%7.2%10.9%10.9%10.9%10.9%

7.4%7.4%7.4%7.4%

8.7%8.7%8.7%8.7%9.1%9.1%9.1%9.1%

10.9%10.9%10.9%10.9% 9.9%9.9%9.9%9.9% 9.6%9.6%9.6%9.6%8.8%8.8%8.8%8.8%

9.9%9.9%9.9%9.9%

7.8%7.8%7.8%7.8%

16,03016,03016,03016,030 16,48016,48016,48016,480

56.8%56.8%56.8%56.8% 58.1%58.1%58.1%58.1%

2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

New Car Financing Auto Lease Used Car Financing Personal Loan Mortgage GECK Others

25.1%

21.3% 22.0%20.3%

2009 2010 2011 9M11 9M12 YoY

Income Statement (KRW Bn)

Good Profitability Underscores Strong Fundamentals

Return on Equity & Return on Assets

ROE ROA

4

20.3%

16.3%

2.4% 2.6% 2.8% 2.6% 2.4%

2008 2009 2010 2011 3Q12

Operating Revenues 2,989 3,274 3,331 2,788 2,496 -10.5%

(Excluding FX effect) 2,485 2,889 3,125 2,369 2,302 -2.8%

Operating expenses 2,448 2,644 2,672 2,184 2,015 -7.7%

(Excluding FX effect) 1,944 2,259 2,466 1,765 1,821 3.2%

Key HighlightsBad debt expense 176 145 354 229 261 13.9%

Operating income 541 630 659 604 481 -20.4%

Net Income 411 489 507 462 355 -23.1%

Key Highlights

� Operating income decreased YoY due to:

- Slower new car sales in 2012 year to date

- Greater one-time effect in the corresponding period last year

� Return on assets (ROA) maintained at high level of 2.4%

152.7% 153.3%

Excellent Asset Quality and Conservative Reserve Policy

30+ Day Delinquency Rate (%) Total Reserve VS Regulatory Requirement (KRW Bn)

Total 30+ delinquency rate New Car 30+ delinquency rate Regulatory Requirement Reserve under Accounting Principles

Supplemental Reserve Total Reserve/ Regulatory Requirement

5

521 583

208

265 279

152.7% 153.3%

118.0% 117.1% 111.0%

2.3%

1.8%1.6%

2.0%

2.3%

1.4%

474

610647

279 288

401

521 426 442

265

345 3680.7%

0.6%0.8%

0.9%

2008 2009 2010 2011 3Q12 2009 2010 2011 3Q122008

15.7%14.9%

Sound Capital Structure Maintained

Leverage Trend Capital Adequacy Ratio (KRW Bn)

Total Assets / Total Shareholders' Equity

Managed Borrowings / Total Shareholders' Equity

Adjusted Capital CAR

6

9.7x

7.4x

9.3x

8.3x

7.1x8.7x

7.5x1,825

2,432 2,375 2,622

2,989

11.5%

13.7%13.0%

6.7x6.5x

5.6x

2008 2009 2010 2011 3Q12

1,825

2008 2009 2010 2011 3Q12

Diversified Funding by Type, Duration & Region

Funding Portfolio by Product Funding Portfolio by Currency

CP 4.2%CP 4.2%CP 4.2%CP 4.2%ABSABSABSABS

11.3%11.3%11.3%11.3%

7

21.7%21.7%21.7%21.7%

65.5%65.5%65.5%65.5%

USD

KRW

BondsBondsBondsBonds75.9%75.9%75.9%75.9%

Loans, Loans, Loans, Loans, 8.88.88.88.8%%%%

11.3%11.3%11.3%11.3%

0.3%0.3%0.3%0.3%

0.5%0.5%0.5%0.5%

1.5%1.5%1.5%1.5%

1.6%1.6%1.6%1.6%

2.9%2.9%2.9%2.9%

5.9%5.9%5.9%5.9%

21.7%21.7%21.7%21.7%

Other

CNY

AUD

JPY

MYR

CHF

USD

• Funding Balance: KRW 17,063 Bn

• Long-term funding: 69.5%

• Recent Key Issuances:

-Dim sum – 1.5yr – RMB 500m

-Samurai – 1.5yr, 2yr – JPY 20 Bn, 8 Bn

-ABS- 500m

Strengthened Liquidity Position

Liquidity Profile (Unit: KRW Bn)

63.5%72.8%

Credit LineCash Short-term Debt Coverage Ratio*

8

Cash Flow Profile (KRW Bn)

10,655

Financial Receivables

1,367

1,338

2,511 2,616

1,789

2,106 2,365

3,808 3,794

30.4% 36.0% 39.1%10,655

5,6682,392

658 185 393

~1Y 1-2Y 2-3Y 3-4Y 4-5Y Over 5Y

Liabilities (Debt)

5,213 4,073 3,587 1,995 1,581

615

~1Y 1-2Y 2-3Y 3-4Y 4-5Y Over 5Y

Net Cash Flow

707 739 1,027

1,297 1,178

1,082 1,367

2008 2009 2010 2011 3Q12

* Short-term Debt Coverage Ratio= (Cash + Unused committed credit line)/ Short-term debt balance

Net Cash Flow

5,443

1,595 -1,195 -1,336 -1,396 -222

~1Y 1-2Y 2-3Y 3-4Y 4-5Y Over 5Y

Hyundai Capital Hyundai Capital Company OverviewHyundai Capital Investor Presentation 3Q 2012

I. Who is Hyundai Capital?

No.1 Consumer Finance Company

• Leading auto financier in Korea with dominant market share

• Eight-year-long partnership between two global leaders;

9

• Eight-year-long partnership between two global leaders;

Hyundai Motor and GE Capital - Jointly formed boards ensure active oversight

- GE Capital appoints key executives in risk management & finance

• Increasingly profitable since the establishment of the joint venture

• Captive finance company for Hyundai Motor Group in Korea, and

’GE Capital’s only operating platform in Korea

• Excellent credit ratings based on strong fundamentals- Fitch: BBB+(S) / S&P: BBB+(S) / Moody’s: Baa1(S) / Domestic: AA+(S)

- Leading auto maker in Korea

with approximately 80% market share

- Stable & solid operational base

Committed Shareholder Financial & Operational Support

Relationship with Shareholders GE Capital’s Financial Support

2012201220122012 -GE Capital extends credit line(Total investment as of 3Q12: US$ 2.3bn)

10

- GE Capital provides US$ 600mm

- HCS is GE Capital’s sole consumer finance business in Korea

- GE Capital provides US$ 871mm in direct funding

- GE Capital increases its back-up credit Line to US$ 1 bn

56.5%- Stable & solid operational base

- Extensive sales network

- Powerful financing arm

- Effective marketing tool

- Most successful joint venture

- Sole consumer finance window in Korea

2009200920092009

2007200720072007

2006200620062006

- GE Capital acquires 38% equity interest in HCS

- GE Capital increases its holdings to 43.3%

back-up credit line

43.3% - Advanced knowledge on risk management

- Financial support

- Active involvement in dailyoperations as well as management

2005200520052005

2004200420042004

• Maintain leadership in auto financing while operating in non-auto financing sector to diversify business portfolio

Strategy : Capitalize on Our Leading Position11

• Use innovative marketing to attract customers and keep them satisfied

• Expand internationally through providing financing services to HMC/KMC’s global customers’

• Place top priority on stringent risk management

Committed to Transparent Corporate Governance

Board of DirectorsBoard of DirectorsBoard of DirectorsBoard of Directors

• Members : 4 from HMC, 3 from GECCGECC’s veto right

12

GECC’s veto right

Risk Control CommitteeRisk Control CommitteeRisk Control CommitteeRisk Control Committee

• Member : 5 from HMC, 5 from GECC

• Frequency : Monthly

• Function

-Determination of risk indicator levels and appropriate course of actions in

Executive Finance CommitteeExecutive Finance CommitteeExecutive Finance CommitteeExecutive Finance Committee

• Member : 4 from HMC, 3 from GECC

• Frequency : Monthly

• Function

-Approval of various operating expenses, Capex, business and

Compliance Review BoardCompliance Review BoardCompliance Review BoardCompliance Review Board

• Member : 9 from HMC, 7 from GECC

• Frequency : Quarterly

• Function

-Formulation and execution of compliance strategy, schemes, and and appropriate course of actions in

respect thereofexpenses, Capex, business and funding plans

compliance strategy, schemes, and improvements

• C-Suite executives: Vice President, Deputy CFO, Deputy CRO, Deputy CMO, Controller

• Working level : GE employees also involved in day-to-day operations

• Transfer of advanced knowledge in various functions through best practice sharing program

GEPresence

II. Macro Environment

Korea’s Macro Environment

GDP Growth Rate & Government Debt to GDP ratio

Key Interest Rate & 3Y KTB Rate

GDP Growth Rate Government Debt to GDP5.32

3.89

3.74 3.68

Key rate(%) 3Y KTB(%)

13

6.1%

3.6%

30.1%

33.8% 33.4% 34.0%

3.00 2.00 2.50 3.25

2.75

3.74 3.682.77

Consumer Confidence Index & Unemployment Rate

Australia

Germany

100

101 102

103

2009 2010 2011 Oct.122008

2.2%

0.2%

1.6%

2008 2009 2010 2011 3Q12

KoreaKoreaKoreaKorea

Japan U.KU.S.A

Australia

Canada

France

95

96 97 98

99 100

0% 2% 4% 6% 8% 10% 12%

Unemployment rate

CC

I

Source: Bank of KoreaSource: OECD* CCI: Consumer confidence index / Unemployment rate (as of FY2011)

73.3% 73.1% 73.6%

76.9%80.0%

78.1%79.8% 79.5%

81.6%

Domestic Auto Market

Domestic Auto Sales (‘000s)

HMC HMC+KMC Market ShareKMC Others

14

252 252 271272 316

413 485 493

367 351

292 320 313322 267

279321 297

227188

1,0941,0941,0941,0941,1431,1431,1431,143 1,1651,1651,1651,165

1,2191,2191,2191,2191,1541,1541,1541,154

1,3951,3951,3951,3951,4661,4661,4661,466 1,4751,4751,4751,475

1,1061,1061,1061,1061,0201,0201,0201,020

73.3%72.0% 73.1% 73.6%

550 571 581 625 571 703 660 684

512 482

252 252 367 351

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 9M119M119M119M11 9M129M129M129M12

Source: KAMA

Korean Consumer Finance Market’s Unique Features

• Conservative lending environment- Average auto loan life of 1.5Y (notional life of 36M + amortization structure)

- Average down-payment for a car is approximately 30%

15

- Average down-payment for a car is approximately 30%

- Low usage of revolving credit card products

• Favorable market environment for captive finance companies- New car dealerships exclusively managed by automakers

- Stable second-hand car market: high residual value of used cars

• Strong credit infrastructure’- Government’s strict regulation on LTV & DTI Ratios

· Average LTV ratio for mortgages is less than 50% (Commercial Banks)

-Well developed credit bureau system

• Industry Assets

Hyundai Capital's Position in the Industry

Dominant Position in Industry** Incomparably Profitable and Sound

Total Industry Asset Size :

KRW 44,331 bn

• Profitability: ROE (Net Income/Equity)

OthersHCS

16

OthersOthersOthersOthers50.8%50.8%50.8%50.8%

HCSHCSHCSHCS49.2%49.2%49.2%49.2%

25.1%21.3% 22.0%

20.3%17.4%

6.0% 5.8% 5.5%

11.3%8.3%

2008 2009 2010 2011 1H12

KRW 44,331 bn

• Industry Net Income

OthersOthersOthersOthersTotal Industry Net Income Size:

• Asset Quality: 30+Day Delinquency Rate

3.2%

* Source: Financial Statistics Information System

OthersOthersOthersOthers35.0%35.0%35.0%35.0%

HCSHCSHCSHCS65.0%65.0%65.0%65.0%

Total Industry Net Income Size:

KRW 330.6 bn

* Source: Financial Statistics Information System, at end of 1H12** Installment Finance Industry

2.3%

1.8%1.6%

2.0% 2.1%

3.0% 3.2% 3.2%

2.8%3.0%

2008 2009 2010 2011 1H12

III. Asset Portfolio & Financial Performance

16,48016,48016,48016,480

18,788 18,788 18,788 18,788 19,806 19,806 19,806 19,806 19,952 19,952 19,952 19,952

New Car Financing Auto Lease Used Car Financing Personal Loan Mortgage GECK Others

8.8%8.8%8.8%8.8%9.1%9.1%9.1%9.1%

7.4%7.4%7.4%7.4%

9.6%9.6%9.6%9.6%

7.4%7.4%7.4%7.4%1.5%1.5%1.5%1.5%

Historical Asset Portfolio Breakdown

Receivables Breakdown by Product (KRW Bn)

17

NonNonNonNon----AutoAutoAutoAuto

11,179 11,179 11,179 11,179 12,049 12,049 12,049 12,049

13,47213,47213,47213,472

15,13015,13015,13015,13016,03016,03016,03016,030

16,48016,48016,48016,480

8.7%8.7%8.7%8.7%5.6%5.6%5.6%5.6%4.9%4.9%4.9%4.9%

12.6%12.6%12.6%12.6%

8.1%8.1%8.1%8.1%6.9%6.9%6.9%6.9%

14.4%14.4%14.4%14.4%

9.4%9.4%9.4%9.4%

4.0%4.0%4.0%4.0%

59.9%59.9%59.9%59.9%

14.3%14.3%14.3%14.3%

8.0%8.0%8.0%8.0%

7.8%7.8%7.8%7.8%7.4%7.4%7.4%7.4%

7.7%7.7%7.7%7.7%

56.8%56.8%56.8%56.8%

14.8%14.8%14.8%14.8%

8.0%8.0%8.0%8.0%

7.8%7.8%7.8%7.8%

10.9%10.9%10.9%10.9%

58.1%58.1%58.1%58.1%

15.8%15.8%15.8%15.8%

7.2%7.2%7.2%7.2%

7.4%7.4%7.4%7.4%

9.9%9.9%9.9%9.9%

57.2%57.2%57.2%57.2%

16.3%16.3%16.3%16.3%

8.4%8.4%8.4%8.4%

8.7%8.7%8.7%8.7%

57.6%57.6%57.6%57.6%

17.3%17.3%17.3%17.3%

7.9%7.9%7.9%7.9%

9.1%9.1%9.1%9.1%

54.4%54.4%54.4%54.4%

18.9%18.9%18.9%18.9%

7.2%7.2%7.2%7.2%

9.6%9.6%9.6%9.6%NonNonNonNon----AutoAutoAutoAuto

20%20%20%20%

AutoAutoAutoAuto80%80%80%80%

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

71.7%71.7%71.7%71.7% 68.0%68.0%68.0%68.0% 63.3%63.3%63.3%63.3% 59.9%59.9%59.9%59.9% 56.8%56.8%56.8%56.8% 58.1%58.1%58.1%58.1%

AutoAutoAutoAutorelatedrelatedrelatedrelated 86.0%86.0%86.0%86.0% 88.7%88.7%88.7%88.7% 87.1%87.1%87.1%87.1% 82.3%82.3%82.3%82.3% 79.5%79.5%79.5%79.5% 81.1%81.1%81.1%81.1% 81.9%81.9%81.9%81.9% 82.8%82.8%82.8%82.8% 80.5%80.5%80.5%80.5%

Best in Class Risk Management

Strong governance for risk monitoring Examples of pre-emptive risk management

Category Actions taken Details

Asset slowdown• Limited funding during global

financial crisis

• Risk Control Committee (RCC)

– Decision making for most supreme risk– Review portfolio risk performance

18

Strategy Asset slowdown(Y2008)

financial crisis

• Reduce non-core businesses to focus on new car financing

New car Risk-basedpricing

• Lower pricing for customers with better credit profile

Used car Policy tightening(Y2010)

• Tightened underwriting policy preemptively

• Sacrificed market share due to focus on asset quality

– Review portfolio risk performance

• Systematic New Product Risk Analysis

- Two-stage RCC approval process - Pre-launch new product introduction and credit review

point assessment

• Risk Appetite Management

– Establish guidelines for portfolio / asset quality – Determine risk management strategy per product

P-loan Cross-sell• More weight on cross-selling

channels to new car customers

Mortgage Residual valueinsurance

• Reflecting volatile housing market conditions

• Only company insured in Korea

• Portfolio Quality Review

– Monitoring of main risk indices– Follow-up on effects of credit policy changes

• Stress Test & Contingency Planning

– Scenario analysis based on economic forecasting– Prepare action plans per contingency stage

5.2%

Historical Asset Quality

30+ Day Delinquency Rate (%)

Total 30+ delinquency rate New Car 30+ delinquency rate

19

3.5%

1.7% 1.6%

2.3%

1.8%1.6%

2.0%2.3%

2.7%

1.5%1.2%

1.0%1.3%

0.7% 0.6%0.8% 0.9%

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

2007 2008 2009 2010 2011 9M119M119M119M11 9M129M129M129M12 YoY

Solid Profit Underscores Strong Fundamentals

Income Statement (KRW Bn)

KKKK----IFRSIFRSIFRSIFRSKKKK----GAAPGAAPGAAPGAAP

20

Operating Revenues 2,245 4,330 2,989 3,274 3,331 2,788 2,496 -10.5%

(excl. FX effect) 2,045 2,384 2,485 2,889 3,126 2,369 2,302 -2.8%

Operating Expenses 1,770 3,824 2,448 2,642 2,672 2,184 2,015 -7.7%

(excl. FX effect) 1,569 1,879 1,944 2,259 2,466 1,765 1,821 3.2%

Interest expenses 561 674 679 890 956 717 682 -4.9%

Lease expenses 507 587 550 557 505 379 384 1.2%

SG&A Expenses 439 498 496 586 603 406 442 8.8%

PPOP 533 600 717 778 1,014 834 742 -11.0%

Bad Debt expenses 58 95 176 145 354 229 261 13.9%

Operating Income 476 505 541 630 659 604 481 -20.4%

Income before Tax 475 518 538 639 663 608 480 -21.1%

Net Income 333 377 411 489 507 462 355 -23.1%

ROA 2.3% 2.4% 2.6% 2.8% 2.6% 3.2% 2.4%

ROE 24.4% 25.1% 21.3% 22.0% 20.3% 25.3% 16.3%

239.9%

195.4%

Historical Reserve & FSS Requirement Coverage Ratio

Total Reserve VS Regulatory Requirement (KRW Bn)

Regulatory Requirement Reserve under Accounting Principles Supplemental Reserve Total Reserve/ Regulatory Requirement

21

521 583

511

208

265 279 474

610647

164.0% 158.5% 151.6% 153.3%

118.0% 117.1% 111.0%

213 240 222 241 279 288

401

521 511 469364

382 423 442

265345 368

2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q122008200820082008

K-GAAP

2005200520052005 2006200620062006 20072007200720072004200420042004

K-IFRS

22.0x

Historical Leverage Trend

Leverage Trend

Total Assets / Total Shareholders' Equity Managed Borrowings / Total Shareholders' Equity

22

16.0x

12.6x 9.7x 9.7x 9.3x

14.6x

10.7x

10.3x7.4x 8.3x

7.1x9.5x8.7x

6.7x

7.5x6.5x

5.6x

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

15.7%14.9%

Historical Capital Structure

Capital Adequacy Ratio (KRW Bn)

Adjusted Capital CAR

23

2,432 2,375 2,622

2,989

11.3%

12.7% 12.8%11.7% 11.5%

13.7%13.0%

1,033 1,337 1,540 1,591

1,825 2,432 2,375 2,622

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

IV. Funding & Liquidity

Diversification of Funding Portfolio Over Time

Managed Borrowings (KRW Bn)

24

• Maintain ABS under 20%, CP under 10%

• Diversify funding portfolio in terms of currency, region and product

• Maintain the average liability to asset maturity ratio above 100%

Funding Principles

13,213 13,213 13,213 13,213 12,597 12,597 12,597 12,597 12,568 12,568 12,568 12,568

13,412 13,412 13,412 13,412 14,335 14,335 14,335 14,335 14,378 14,378 14,378 14,378

16,560 16,560 16,560 16,560 17,330 17,330 17,330 17,330 17,063 17,063 17,063 17,063

Bond-domestic Bond-overseas ABS-domestic

ABS-overseas Bank loans CP

Total

Managed Borrowings (KRW Bn)

31.0%31.0%31.0%31.0%

17.7%17.7%17.7%17.7%

11.5%11.5%11.5%11.5%

14.2%14.2%14.2%14.2%

17.2%17.2%17.2%17.2%

18.3%18.3%18.3%18.3%

12.9%12.9%12.9%12.9%

13.3%13.3%13.3%13.3%

5.7%5.7%5.7%5.7%

11.9%11.9%11.9%11.9%

8.3%8.3%8.3%8.3%9.9%9.9%9.9%9.9%

16.9%16.9%16.9%16.9%

8.7%8.7%8.7%8.7%

10.4%10.4%10.4%10.4%

10.3%10.3%10.3%10.3%

10.6%10.6%10.6%10.6%

10.7%10.7%10.7%10.7%

8.7%8.7%8.7%8.7%

8.2%8.2%8.2%8.2%6.8%6.8%6.8%6.8%

6.7%6.7%6.7%6.7%

9.8%9.8%9.8%9.8%

7.4%7.4%7.4%7.4%

8.5%8.5%8.5%8.5%

5.9%5.9%5.9%5.9%

9.1%9.1%9.1%9.1%

8.7%8.7%8.7%8.7%

4.3%4.3%4.3%4.3%

4.5%4.5%4.5%4.5%

6.8%6.8%6.8%6.8%

8.7%8.7%8.7%8.7%4.2%4.2%4.2%4.2%

6.9%6.9%6.9%6.9% 9.1%9.1%9.1%9.1%

7.1%7.1%7.1%7.1%

31.0%31.0%31.0%31.0%

29.3%29.3%29.3%29.3%26.5%26.5%26.5%26.5%

25.7%25.7%25.7%25.7%29.1%29.1%29.1%29.1%

27.3%27.3%27.3%27.3%

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

%%%% of LT of LT of LT of LT FundingFundingFundingFunding 39.1%39.1%39.1%39.1% 47.6%47.6%47.6%47.6% 57.5%57.5%57.5%57.5% 57.9%57.9%57.9%57.9% 59.0%59.0%59.0%59.0% 59.3%59.3%59.3%59.3% 63.5%63.5%63.5%63.5% 65.4%65.4%65.4%65.4% 69.5%69.5%69.5%69.5%

36.9%36.9%36.9%36.9%

2.9%2.9%2.9%2.9%

34.0%34.0%34.0%34.0%38.4%38.4%38.4%38.4%

18.3%18.3%18.3%18.3%

26.3%26.3%26.3%26.3% 30.7%30.7%30.7%30.7%39.1%39.1%39.1%39.1%

41.9%41.9%41.9%41.9% 42.9%42.9%42.9%42.9%48.6%48.6%48.6%48.6%

14.1%14.1%14.1%14.1% 31.0%31.0%31.0%31.0%

Funding by Currency & Outstanding Global Bonds

Funding Portfolio by Currency Outstanding Global Bonds*

MYR 2.9%MYR 2.9%MYR 2.9%MYR 2.9%

JPY 1.6%JPY 1.6%JPY 1.6%JPY 1.6%

AUD 1.5%AUD 1.5%AUD 1.5%AUD 1.5% Issue Date Maturity Amount

144A/Reg S

Nov.’09 5.5 years USD 500m

Jan.’11 5.5 years USD 700m

25

KRWKRWKRWKRW65.5%65.5%65.5%65.5%

USDUSDUSDUSD21.7%21.7%21.7%21.7%

CHF 5.9%CHF 5.9%CHF 5.9%CHF 5.9%

MYR 2.9%MYR 2.9%MYR 2.9%MYR 2.9%144A/Reg S Jan.’11 5.5 years USD 700m

Mar.’12 5.5 years USD 500m

SamuraiNov. ‘12 1.5 years JPY 20,000m

Nov. ‘12 2 years JPY 8,000m

Swiss Franc

Jul. ’10 5 years CHF 150m

Oct. ’10 4 years CHF 200m

May ’11 2.5 years CHF 150m

May’11 5 years CHF 150m

Feb.’12 5 years CHF 200m

• Funding Balance: KRW 17,063 Bn

• Foreign Exchange Risk:

-100% of foreign currency exposure is hedged

through swap transactions entered into at the

time of bond issuance.

Feb.’12 5 years CHF 200m

Malaysian Ringgit

May ’11 2.5 years MYR 650m

Feb.’12 5 years MYR 320m

May ’12 3 years MYR 370m

Australian Dollar Jun. ’12 3 years AUD 175m

Dim Sum Sep. ‘12 1.5 years RMB 500m

(*As of Nov. 14, 2012)

26

Liquidity Profile (Unit: KRW Bn)

Cash Short-term Debt Coverage Ratio*

Historical Liquidity Position

63.5%

72.8%

Credit Line

1,3671,338

2,511 2,616

1,332 1,336

1,789

2,1062,365

3,808 3,794

4.6%

16.0%

25.0% 23.7%30.4%

36.0% 39.1%

63.5%

370 405 401 398707 739

1,0271,297 1,178

652931 938

1,0821,367

370

10571,332 1,336

2004200420042004 2005200520052005 2006200620062006 2007200720072007 2008200820082008 2009200920092009 2010201020102010 2011201120112011 3Q123Q123Q123Q12

* Short-term Debt Coverage Ratio = (Cash + Unused committed credit line)/ Short-term debt balance

V. Others

27

Credit Ratings & Rationale

HCS’ Global Credit Ratings* Credit Rating Rationale

A+(S)AAA

• Strong Standalone Profile

– Sustainable track record of strong profit performance and robust credit fundamentals

Baa1(S) BBB+(S) BBB+(S)

Moody's S&P Fitch JCR RAM

HCS & Competitors’ Domestic Credit Ratings

performance and robust credit fundamentals

– Low risk-focused product portfolio and prudent risk management

– Adequate liquidity and sound capitalization

– Strong market position as HMC's key captive financing arm

• Capable & Willing Shareholder Support

- Solid backup line provided by GE Capital through

AA+

- Solid backup line provided by GE Capital throughits capital and managerial support

- Strong likelihood of HMC’s assistance in contingency given its strong relationship with the parent evident in its capital contribution, board members and business base.

A+ A+ A+

A

Hyundai Capital

W Financial A Capital W Capital N Capital

(*As of Nov. 14, 2012)

28

Performance of Hyundai Motor Company

Strength Performance

Product Mix60%

Total Sales (‘000s)

3,106 3,612

4,059

3,023 3,209

18% 16%6%

Compact Mid & Large RV Commercial

Market Diversification

15.0% 16.8%10.5%

18.2%

39.5%

Korea US Europe China Others

OP Margin

2009 2010 2011 9M11 9M12

7.0%8.8%

10.4% 10.4% 11.1%

2009 2010 2011 9M11 9M12Korea US Europe China Others

Brand Value

• Increase in residual value of vehicles due to strengthened brand awareness

• Boost in luxury car sales has increased the average selling price

Net Profit (KRW Bn)

2009 2010 2011 9M11 9M12

2,962

6,001

8,105

6,102 7,164

2009 2010 2011 9M11 9M12

29

Global Expansion

Office/Corporation without funding

China JV

UK JV

Established: Dec. 2011

Capital: ￡20 mm

Stake: HCS 29.99%Hyundai Capital America

Established: Sep. 1989Capital: $1 bnStake: HMA 94%, KMA 6%

Established: Jun. 2012Capital: RMB 0.5 bnStake: HCS 46%

Stake: HCS 29.99%

Hyundai Capital Europe

Established: May 2010Capital: €2.8 mm

Stake: HCS 100%

Hyundai Capital Germany

Established: Sep. 2009Capital: €2mmStake: HCS 30.01%

Russia

Australia Office

Representatives Dispatched

India Office

Representative Office

Established: Jul. 2010

Brazil Office

Representatives Dispatched

HCSHCSHCSHCS’’’’StrategyStrategyStrategyStrategy

• Support Global Sales Growth of HMG

– Provide auto financing and related services for HMC/KMC customers

• Minimize Entry Risk

– New market entry through joint ventures with local partners

Investor Relations Contacts

Jungsang Kim, Head of Investor RelationsPhone +82 2 2167 7034jungsang.kim@hyundaicard.com

Minchul Seo, Deputy General Manager of Investor RelationsPhone +82 2 2167 7051mcseo@hyundaicapital.com

Brett Moffat, Manager of Investor RelationsPhone +82 2 2167 5510brett@hyundaicapital.com

Jay Moon, Manager of Investor RelationsPhone +82 2 2167 5312Jay.moon@hyundaicard.com

http://ir.hyundaicapital.com/