Hanwha Profile 2020

A “We engage and listen to our customers to create the solutions they trust us to build.”

Contents

02 CHAIRMAN’S MESSAGE

08 BUSINESS HIGHLIGHTS 10 Chemicals & Materials 20 Aerospace & Mechatronics 28 Solar Energy 36 Finance 46 Services & Leisure 54 Construction

62 Hanwha OVERVIEW 64 Hanwha’s Vision, Spirit & Core Values 66 Hanwha Today 68 Milestones 70 Financial Highlights

72 Hanwha BUSINESSES 75 Manufacturing & Construction 93 Finance 99 Services & Leisure

104 CORPORATE SOCIAL RESPONSIBILITY

112 GLOBAL NETWORK & DIRECTORY

B 1 Chairman’s Message

The world has already moved beyond the Fourth Industrial Revolution. It is now heading toward the next industrial revolution. So are we.

At Hanwha, we believe in building trust and strengthening loyalty. Our customers trust us because we’ve earned it over time. In turn, we strengthen our loyalty to the people we serve through contributions to society. Trust and loyalty are in the DNA of every Hanwha employee, motivating us to build for the good of all, amid constant changes and despite them. As a company, our never-ending goal is to improve the lives of everyone we touch. We seek to raise the standards of living and improve the quality of life. We know this is easily said but difficult to attain. And yet, if we persevere, continue to innovate and build for a better tomorrow, the future is ours to imagine.

In 2010, Hanwha’s vision of “Quality Growth 2020” was unveiled. Since then, we have made significant strides toward realizing this vision through our expertise and innovations that have grown exponentially across the company’s core businesses. We’ve established a solid foundation to support a strong global market position—in the midst of economic upheavals and changing trade landscapes around the world. So now, as we look forward to the next generation of advancements and greater qualitative growth, we’re simultaneously preparing for what our accelerating digital transformation and adaptive business models for the Fourth Industrial Revolution will bring.

We are revamping our business infrastructure, intent on improving our business value chains for our customers and creating synergy between our businesses. In 2020, we launched a global chemical, materials and energy company that will lead the global eco-friendly energy market and high-value- added materials industry. And through a strategic reorganization, the company will be able to create a sustainable future through integrations and expansions that focus on innovating energy and materials technologies.

2 3 Our chemical business is leveraging its vertical integration to refine and transform raw materials and Embracing innovations and basic chemicals into synthetic fuel and advanced materials. We’re winning awards along the way but more importantly, we’re executing our strategy to use both upstream and downstream production processes to diversify our product portfolios with high-value-added and eco-friendly products. Our pursuing opportunities heavy investments in R&D will ensure that we become a global eco-friendly company built with industry leading technologies and solutions. And as we continue to expand production capacity, at the same time, we’re maintaining financial stability. In 2021, we will complete our large-scale expansion to build a better future project, valued at USD 1.3 billion. The successful completion of this project will help us to achieve a competitive edge with regard to high-value-added resin products while also adding to our production capacity for ethylene, the industry’s base chemical.

Hanwha’s vertically integrated solar energy business leads the global market, and we’re doing this with our cutting-edge technology and world-class production capacity. We’re maintaining the No. 1 market share in the new market for advanced renewable energy across the US, , the UK, and . We are also actively participating in large-scale solar energy projects in the US, Europe, and other countries. And in response to the changing energy market, as evidenced by the dramatic popularity and productions of electric vehicles and distributed power generation, we’re increasing our developments efforts across a variety of business models. We’re transforming into a leading energy solutions provider for the future by providing solar energy systems, power plant development, and energy for sale.

In aerospace, we’re securing large supply contracts with global customers for our advanced solutions that are built to exceed expectations, a testament to our capabilities and success in the industry. In 2019, we signed a supply agreement for USD 1.7 billion worth of aircraft engine parts with Pratt & Whitney, the global aircraft engine manufacturer. Mass production is set for 2022. As a trusted partner with world-class technology and renowned quality in the global aircraft industry, we are participating in a joint international development project to build high-value-added aircraft engines. Moreover, we are aggressively engaging in global mergers and acquisitions. For this purpose, we established USA in the US, a strategically located hub for global engine manufacturers that will allow access to rich resource pools to further our technological capabilities.

4 5 In mechatronics, we’re investing in manufacturing innovations and developing logistics automation social contributions and making efforts to improve our society. We sponsor social events, community systems, and Smart Factory solutions for the Fourth Industrial revolution. We are also addressing activities to promote talent development, culture, the arts, sports, donations, and volunteering. We’re the anticipated needs of this new era by providing global video security solutions that combine AI also raising awareness on eco-friendly energy in our communities. Our recent response to the recent algorithms and advanced optical technologies. global pandemic, offeringHanwha Life Park as the first COVID-19 treatment center in Gyeonggi-do, , is one such example of doing good. In financial services, Hanwha continues to innovate to better address the needs of customers, amidst challenges of an evolving market. Our integrated brand, LIFEPLUS, is pushing the boundaries At Hanwha, we’ve remained steadfast to the UN’s Sustainable Development Goals to work together of financial services with a mission to enrich the lives of our customers. We’re using advanced digital with others to solve global environmental issues. In June 2019, we launched the Clean Up Mekong technology to further capitalize on Fintech opportunities, while investing in Insurtech-based business campaign to help solve the waste problems in the rivers of Vietnam. We donated solar-powered boats models and digital asset management services. In 2020, we launched South Korea’s first digital non- for this effort, while raising environmental awareness to prevent climate change. OurHanwha Solar life insurer and now are offering a new digital experience that delivers a higher standard of service Forest campaign has also been protecting the environment by planting thousands of trees. To date, we to our customers. We’re investing in digital platforms to strengthen customer service today and have planted about 500,000 trees in seven locations across South Korea, Mongolia, and build a better set of financial services for the future. We’re collaborating with Internet-only banks and fostering Fintech startups to better leverage AI, Big Data, and blockchain technologies to create But even with all these ideas and opportunities, we believe people are the most important asset. synergy between financial businesses and advance the financial industry. Our efforts are all aligned to That’s why we’re hiring the best talents and fostering their creativities. And we’re not only building our global growth strategy and we’re doing a lot but what drives us is our goal to provide meaningful partnerships with large companies but also with small and medium-sized enterprises so we can succeed value-added services. and achieve together. While investing in talents and partnerships, through the Hanwha Compliance Committee, we’re also aggressively working to maintain strict compliance and the highest standards. At Hanwha, we are infusing our many years of experience, expertise, and unique brand value into This is creating an ethical corporate culture on the inside, and setting an example in fair competition and our affiliate companies in construction and operation & management services to deliver differentiated transparency for others to follow, on the outside. experiences that cater to evolving lifestyles and residential living. Launched in 2019, our premium residential brand, FORENA, offers customers with a new residential lifestyle and culture. As a real We continue to face a world full of uncertainties where advancements in digital technology are estate developer, this is part of our comprehensive set of solutions that include the building of well- accelerated by emerging technologies and changing infrastructure. Despite them, we will rise to the designed cities that provide a new concept of living. Our multiplex development projects are the challenges and overcome. We will do this through innovation and by doing what others have not. We convergence of residential, retail, office, commercial, and hotel space. We leverage and build on the will take the road less traveled, never losing sight of why or for whom it’s all for—our customers. foundation designed for sustainable growth. And our growth will depend on how effectively we respond to the needs of our customers for retail and leisure services that support their diversified lifestyles and leisure activities.

And as a conscientious corporate citizen, Hanwha continues to meet its ethical, legal, and economical responsibilities in all of our business practices. We remain committed to our business philosophy that as a business we have a responsibility to do good. This is why we are increasing our

6 7 BUSINESS HIGHLIGHTS

At Hanwha, we partner with our customers. We listen first and only then create solutions. And it is from the understanding of our customers with which we create the products and services that are changing how the world works, lives, and plays.

8 9 SEEK FIND

WE SEEK NEW TECHNOLOGIES WITH WHICH YOU CAN FIND NEW APPLICATIONS.

10 11 Working in Synergy to Enhance Competitiveness From refining basic chemicals to producing synthetic fuel and advanced materials, Hanwha’s integrated portfolio impacts a wide range of industries, including automotive, electronics, and solar energy. By aligning the company’s R&D, in-house supply chain, and manufacturing facilities toward a common vision, Hanwha is better able CHEMICALS to pursue continuous innovation and ENERGY new growth areas while controlling costs. & MATERIALS (OIL REFINING) Jet fuel, diesel fuel, gasoline, LPG Hanwha Petrochemical VALUE-ADDED INTEGRATION

Hanwha researchers are leaders in their fields and passionate about innovating and BASIC exploring new ways to produce petrochemicals Ethylene, propylene, SM Hanwha Petrochemical butadiene, aromatics (BTX) and advanced materials that our customers naphtha can leverage to push their own limits of what is possible in automotive engineering, solar energy, nanotechnology, and other fields. For example, our breakthrough process for producing the synthetic resin EVA is allowing SYNTHETIC RESINS AND CHLOR-ALKALI companies to manufacture solar cells with SYNTHETIC MATERIALS PRODUCTS higher purity, transparency, and efficiency Hanwha Petrochemical PE, PP, EVA Caustic soda, chlorine Hanwha Solutions PE, PVC EDC, VCM, ECH at lower costs. Hanwha General Chemical PTA TDI

In the automotive industry, our revolutionary lightweight composite materials are prized for their durability and flexibility—comparable to steel in strength but with up to 25 percent ADVANCED MATERIALS Hanwha Solutions Advanced lightweight less mass. This means cars can weigh less but composite materials and parts Electronics materials perform better. These and other innovations Solar materials provide greater value for our customers and attract partnership opportunities for Hanwha, worldwide.

12 13 PETROCHEMICAL A Leader In South Korea

Hanwha continues to be a leading producer in South Korea’s petrochemical sector with total sales of USD 14.58 billion.

ETHYLENE Petrochemical Powerhouse

Hanwha has an ethylene production capacity of over 3.35 million tons and is rapidly becoming a major player in this important market.

’s Daesan Petrochemical Complex 14 15 W&C COMPOUND World-Class Innovation

After developing the W&C compound, an innovative polyethylene synthetic resin, for the South Korean market, Hanwha had in effect, freed the South Korean manufacturers from their dependence on imported resins for power transmissions and distribution cables.

EVA PTA Global Leader Proven PTA Hanwha has built a world-class ethylene Technology vinyl acetate (EVA) production plant with an annual capacity of 710,000 tons. With a purified terephthalic acid (PTA) By adopting new processes and investing production capacity of more than two in advanced facilities, we are developing million tons per year, Hanwha leads the high-value products that are helping to domestic PTA market. As we continue to further increase our market share. export our process technology, we are increasingly recognized around the world for technological prowess.

16 17 AUTOMOTIVE THERMOPLASTICS 70% Global Market Share

Hanwha StrongLite and SuperLite products now account for 70 percent of the global market in GMT (glass fiber mat-reinforced thermoplastics) and LWRT (low weight reinforced thermoplastics) technologies.

ELECTRIC VEHICLE BATTERY SOLUTION Advanced Eco-Friendly Solution

Hanwha’s new battery housing for eco-friendly electric vehicles and hydrogen tank for hydrogen fuel cell vehicles are examples of how Hanwha’s innovative lightweight composite materials are being applied. These products are expected to lead the mobility market and raise the bar for other manufacturers. With cutting-edge products, we are leading the market and becoming a major supplier to global automakers. We are also developing new products with which to enter the battery sensing material market for electric vehicles. By expanding our ultra-high-pressure hydrogen tank business, a key component of hydrogen fuel cell vehicles, we are paving the way not just to sustainable growth but to a better future for all.

18 19 QUESTIONS ANSWERS

WE HAVE THE ANSWERS TO THE QUESTIONS YOU HAVE FOR THE FUTURE.

20 21 Leading in Innovation and Expertise We are the only company in South Korea

with advanced aircraft engine technology. TOTAL SOLUTIONS PROVIDER IN AEROSPACE & MECHATRONICS Through our innovations and industrial expertise, Hanwha is becoming a global force in the aerospace and mechatronics industries with outstanding technologies for radars, optronics, avionics, and AEROSPACE

unmanned control systems. Aircraft engines Hanwha Aerospace Aircraft components

AEROSPACE & Aerospace sensors Hanwha Systems MECHATRONICS

From here on earth for the skies above, MECHATRONICS Hanwha is developing world-class products Video surveillance solutions in aerospace and mechatronics to help (video surveillance equipment, integrated management solution, corporations and governments meet their intelligent video analysis solution) future needs in manufacturing, commerce, security, and travel. And we continue to pursue Hanwha Precision Industrial equipment technology partnerships with other leading Machinery (chip mounters, screen printers, EXPLOSIVES semiconductor equipment) Commercial explosives Hanwha Corporation companies and develop solutions that satisfy Machine tools Mining services customers around the globe.

Hanwha Power Systems Industrial air and gas compressor Gas turbine package Power generation system

Hanwha Corporation Semiconductor and display manufacturing equipment, factory and warehouse automation (logistics) Solar cell and module manufacturing equipment Collaborative robots

22 23 AEROSPACE USD 20 Billion

Over the past five years,Hanwha Aerospace has secured aerospace contracts worth nearly USD 20 billion by partnering with global aviation engine companies such as Pratt & Whitney, GE, and Rolls-Royce. We also signed an agreement with United Technologies International Corp- Pte Ltd. (Pratt & Whitney subsidiary) to acquire a 30 percent equity interest in P&W NGPF Manufacturing Company Singapore Pte. Ltd. The plan is to manufacture hybrid metallic fan blade parts and high- pressure turbine disks for engines.

Hanwha Aerospace’s aircraft engine production site 24 25 ELECTRONICS Defense Electronics Innovation MACHINERY By leveraging our strategic alliances and building unique technologies in command, control, communication, Experience computer, and intelligence (C4I), Hanwha Systems is bringing Your Smart innovative solutions to global markets. Factory

Hanwha has more than 50 years of experience in global mechatronics and we’ve never stopped innovating. Our customers use our technology to improve productivity and efficiency.

SECURITY Innovative Security Solutions

Hanwha Techwin has accumulated over 30 years’ worth of core technologies in optics design, image processing, and manufacturing. We’ve built on these technologies with continuous technology development to grow rapidly and become South Korea’s No. 1 video security solutions provider. And by leveraging our expertise and experience, we’re on a trajectory to develop the next-generation technologies in deep learning. AI and business intelligence analytics is not only the natural next progression for our company but also, it is a way for us to increase our presence in the global security market.

26 27 TOMORROW TODAY

WE INVEST IN THE POWER OF TOMORROW SO YOU CAN MEET THE ENERGY DEMANDS OF TODAY.

28 29 Accelerating Sustainable Energy We have world-class capabilities to deliver high-quality solar products and services but our work to improve our integrated solar energy solutions business, never stops. Especially now when we’re at the forefront of innovation across the solar energy sector and leading a global portfolio of products with the highest performance and diversified production bases. Our sound SOLAR ENERGY investments have positioned us to be MANUFACTURING Hanwha Corporation

able to accelerate the growth of the INTEGRATED SOLAR VALUE CHAIN EQUIPMENT large-scale power plant market in the US, Chile, and Latin America. At the same time, we’ve secured a series of large solar projects across Europe, including the UK and France.

With superior quality solar products and services that have incorporated world-class technology, Hanwha has rapidly become one of the most trusted names in the global solar Hanwha Solutions CELLS / MODULES industry. We are at the forefront of innovation ENERGY SYSTEM SOLUTIONS in the solar energy sector, with sustainable DOWNSTREAM ACTIVITIES products and solutions custom-designed to address the global energy challenges of today ENERGY RETAIL and tomorrow. EVA SHEET / BACK SHEET FOR OVERSEAS PROJECT Hanwha Energy PHOTOVOLTAIC MODULES DEVELOPMENT (PV, ESS)

O&M

ENERGY SYSTEM SOLUTIONS

ENERGY RETAIL

DOMESTIC PROJECT Hanwha Solar Power DEVELOPMENT

30 31 SOLAR CELLS & MODULES Technology Leader

Hanwha Solutions’ proprietary Q.ANTUM solar cells significantly reduce energy consumption by utilizing Passivated Emitter Rear Contact (PERC) architecture. In 2015, the company achieved a record-breaking 19.5 percent efficiency rating with its multicrystalline solar module, the first module of its kind. For the 4 consecutive years, in 2019, DNV GL, the world’s largest classification society, rated one of our key products like the Q.ANTUM, a “Top Performer.” By the end of 2018, Hanwha Solutions had succeeded in mass-producing 15GW of Q.ANTUM solar cells. Our high-end technology is recognized around the world and has won the Top Brand PV Seal 2020 from EuPD Research 7 consecutive years in Europe and 5 consecutive years in .

SOLAR RESEARCH & SALES 40+ Countries

Hanwha has state-of-the-art solar energy R&D centers in Germany, South Korea, China, and . Its marketing and sales operations are in more than 40 countries throughout Europe, Asia, and North America.

Power plant using Hanwha solar modules in North Carolina, USA 32 33 SOLAR CELL PRODUCTION Global Production Leader

Hanwha Solutions is a world-class leader in solar module manufacturing with an annual module production capacity of 11.3GW.

(as of December 2020)

PV MODULES Market Share Leader

In 2015, Hanwha Solutions signed, what was at the time, the largest single contract in the solar industry. The agreement was with the US company, NextEra Energy Resources, to provide more than 1.5GW of solar modules. Hanwha Solutions is the market share leader among all global manufacturers in Japan and the US (residential and commercial markets). We have achieved the biggest market share in Germany, and the UK. We’re leading the charge in green growth and sustainable development to reduce poverty, create jobs and advance the synergy between the environment and economy for generations to come.

34 35 INNOVATE SECURE

WE INNOVATE FINANCIAL PRODUCTS SO YOU CAN SECURE A PEACE OF MIND.

36 37 Value-Added Services for Individuals and Institutions Historically, Hanwha has remained solid and stable while offering comprehensive financial solutions, including , banking, securities, and asset management services. INSURANCE Life, non-life insurance Hanwha Life General insurance Hanwha General Insurance FINANCE TOTAL FINANCIAL SOLUTIONS

SECURITIES Hanwha Investment Asset management, & Securities brokerage services, Hanwha offers a complete financial trading, investment banking service platform with insurance, securities, asset management and banking products. We create value for individuals and ASSET MANAGEMENT institutional customers by continuously Stocks, bonds, ETFs, Hanwha Asset Management adapting to today’s rapidly changing derivatives, real estate financial landscapes and providing financial MMFs, PEFs solutions that give customers the freedom to pursue their dreams.

BANKING PRODUCTS Hanwha Savings Bank Deposits, commercial and personal loans

38 39 LIFE INSURANCE A New Milestone

Seventy years after being established as South Korea’s first life insurance company, Hanwha Life has reached a new milestone with USD 86.4 billion (KRW 100 trillion) in total assets. In 2019, we grew and achieved new heights to lead the industry with USD 104 billion in total assets. We’ve maintained a sound financial structure since 2010, when we were first recognized as a major domestic insurer in the securities market. Hanwha Life is achieving industry- leading value in asset management, on-site sales competitiveness, and product development capabilities.

Hanwha Finance Plaza near City Hall in 40 41 FINTECH Securing Future Growth

Hanwha is leveraging Big Data strategically and applying the latest financial technologies to create sustainable growth in new markets, including online banking, insurance, and lending with mid-range interest rates.

42 43 SALES NETWORK Global Expansion

Hanwha's financial business is accelerating its entry into the pan- Asian market, across the US, Vietnam, China, Indonesia and Singapore. We’re leveraging our diversified global financial business portfolio including life insurance, securities, and asset management. We will also continue to strengthen our future growth engines as we advance into the digital financial market while providing financial solutions that match the lifestyle of our local customers.

44 45 IMAGINE REALIZE

WE IMAGINE DISTINCTIVE EXPERIENCES TO HELP YOU REALIZE YOUR DREAMS.

46 47 Bringing Joy to Life Hanwha’s growing network of unique resorts, hotels, and retail establishments has established the company as a respected leader in the leisure and lifestyle industry.

WIDE-RANGING PREMIUM EXPERIENCES WIDE-RANGING PREMIUM EXPERIENCES RESORTS, HOTELS, Hanwha Hotels & Resorts SERVICES LEISURE & LEISURE

From first-class shopping experiences to Hanwha Galleria RETAIL & FASHION luxury hotels and resort stays, Hanwha is dedicated to helping our customers enjoy richer and more fulfilling lives. We continue to expand our services and leisure businesses COMMERCIAL DEVELOPMENT, Hanwha Station Development to bring dream-like experiences to life for PROPERTY MANAGEMENT people around the world.

Hanwha Estate COMPREHENSIVE REAL ESTATE SERVICE

48 49 RETAIL Premium Contents Producer

The Galleria is Korea's first and foremost premium department store chain. These stores represent Hanwha’s commitment to providing differentiated customer experiences by incorporating timely lifestyle consumer trends into its offerings. As a premium provider in retail, we develop luxury brands, food and beverages, VIP services, and new platforms for both offline and online stores.

Hanwha Galleria Luxury Hall 50 51 AQUARIUMS RESORTS Leader in Luxury Maritime At Its Best

Launched in 2018, Hanwha Hotels & Culture Resorts Geoje Belvedere is an upscale beachfront resort complex that offers Hanwha’s affinity for marine life shows its guests a holistic experience—where in our chain of award-winning aquariums, wellness and wellbeing are taken to including the eco-friendly Aqua Planet a whole new level. Nestled between located in the South Korean cities of Jeju, a lush coastal mountaintop and an Yeosu, Ilsan, and Seoul. Aqua Planet Jeju idyllic sea, the Belvedere is the ultimate features a diverse and world-class marine destination where nature meets aquarium. Aqua Planet Ilsan features luxury. There are 470 rooms, each with an aquarium and a zoo combined. breathtaking views overlooking the Aqua Planet Yeosu showcases Korea’s ocean. Guests can luxuriate in amenities only 360-degree dome aquarium. Our from fine dining and nature immersion expertise in marine-life and aquarium programs to aquatic activities including architecture is renowned and sought out yachting. The Belvedere’s single purpose internationally. is to help guests connect to nature so you can unwind, rejuvenate, and enjoy life as it was meant to be.

HOTELS

One of A Kind

THE PLAZA is South Korea’s most luxurious boutique hotel and considered one of the preeminent hotels in Asia. This 5-star hotel is centrally located in the heart of Seoul, amidst a myriad of tourist attractions and a bustling nightlife. THE PLAZA boasts 408 rooms and over 20,000 square feet of event space. It’s impressive in size but it is in its refined design, impeccable service, and premium accommodations that we take pride. THE PLAZA is the first hotel in Korea to join the Autograph Collection, Marriott International’s premium portfolio of distinctive hotels. We are introducing exclusive services that combine the advantages of a local hotel brand with the benefits of a premier-chain hotel brand.

52 53 ENVISION ACHIEVE

WE ENVISION POSSIBILITIES SO YOU CAN ACHIEVE YOUR GOALS.

54 55 Imaginations to Possibilities Hanwha Engineering & Construction is at the forefront of the global construction business. By building on our deep expertise, our business can successfully expand across chemical and power plants, civil engineering works, commercial buildings, and more. Hanwha City Development, a leading private developer of high-tech industrial complexes, is also gaining PLANTS Petrochemical & refinery plants

CONSTRUCTION GLOBAL CONSTRUCTION LEADERSHIP reputation as an experienced real estate Power plants developer with end-to-end solutions. Environmental & industrial plants Renewable energy

Hanwha partners with customers to Expressways CIVIL WORKS understand their needs and goals. Our deep Roads & bridges Tunnels & ports level of engagement enables us to truly Water & sewage facilities envision before we build and exceed customer BUILDING WORKS Business facilities expectations after we do. From spectacular Commercial facilities Institutional facilities performance venues to cutting-edge Leisure & medical facilities manufacturing facilities to affordable housing IDC Cultural & sports facilities that brings families and communities together, Stations & terminals Hanwha is helping to enrich the lives of Apartments HOUSING millions worldwide. Luxury condominiums Residential & commercial complexes

CITY DEVELOPMENT Development of high-tech industrial complexes

56 57 IRAQ PROJECTS Building A City

Hanwha’s Bismayah New City Project is the unprecedented effort to build an entire city covering nearly 60 city blocks and including over 830 apartment complexes totaling more than 100 thousand units. The Bismayah New City Project is the largest construction project in the history of the Middle East by a South Korean company. And recently, we secured another contract worth USD 2.1 billion to build the social infrastructure for Bismayah city. This pushes the total value of the project to more than USD 10 billion.

Bird's-eye view of the Bismayah New City 58 59 PETROCHEMICAL PLANT DEVELOPMENT Turnkey Solutions

Hanwha Engineering & Construction continues to solidify its market presence in the Middle East and North Africa with industrial, power and petrochemical plant projects, including the construction of the Saudi- owned Ma’aden petrochemical plant. The Ma’aden plant will have an annual production capacity of 1.5 million gallons of fertilizer.

THE PHILIPPINES ARENA SUWON GWANGGYO CONVENTION CENTER

World’s Multiplex Largest Dome Arena Development

Hanwha Engineering & Project Construction is constructing buildings that are expressions of creativity and innovation. One of them in the Philippines has even become a landmark. The Hanwha Hotels & Resorts and Philippines Arena, built by Hanwha Hanwha Galleria are partnering to is an outstanding example of creative build a tourism & leisure infrastructure architecture that uses a design motif and it will support a multiplex that inspired by ancient arenas. It is the world's includes a hotel, a department store, largest domed performance hall. and an aquarium. The addition of this multiplex coupled with Hanwha’s engineering and construction expertise will bring the visually stunning Suwon Gwanggyo Convention Center to life.

60 61 Hanwha OVERVIEW Hanwha’s Vision

Our vision is to touch the lives of every individual in every country in which we operate. We want to elevate the quality of life with our innovations and solutions. And to CHEMICALS & achieve our vision, we’ve set goals to help us lead in all MATERIALS markets our businesses compete in. Anticipating change, A top 5 leader globally

innovating, and investing in future technologies and 2020QUALITYGROWTH infrastructure are at the forefront of our agenda for each of our businesses. At the same time, we remain steadfast in our AEROSPACE & commitment to help our customers grow with us with the MECHATRONICS Global leader in aerospace engine products we build for them. After all, our commitment is to and mechatronics solutions SOLAR ENERGY our customers, employees, and to the world in which we live. Global market leader in solar energy

FINANCE Top financial group Our Spirit & Core Values in South Korea

At Hanwha, we operate with the spirit of trust and loyalty above all else. They are reflected in our core values and serve SERVICES & to guide us in how we do business and why we innovate. LEISURE Top provider of premium leisure Our Core Values experiences and services in South Korea · We believe in challenging the status quo in the pursuit of excellence through change and innovation.

· We are dedicated to our company, customers, and one another to achieve a greater goal.

· We believe in acting with integrity in everything we do, as individuals and employees.

64 65 Hanwha Today

After our founding in 1952, Hanwha has grown into a Fortune Global 500 company. Our business expertise and USD synergies in manufacturing & construction, finance, and B services & leisure have made us the 7th largest business 57.48 TOP TOTAL SALES 7 enterprise in South Korea. And by quickly anticipating and (AS OF 2019) BUSINESS ENTERPRISE IN SOUTH KOREA

responding to changing market conditions, we’ve led the 2020QUALITYGROWTH (TOTAL ASSET BASIS industry with world-class capabilities. Our focus, well-executed AS OF END OF 2019) strategies, and our aggressive investments have helped us to successfully overcome the toughest challenges in key TOP 11 BUSINESS ENTERPRISE IN industries in chemical, aerospace & mechatronics, solar energy, SOUTH KOREA (NET INCOME BASIS and finance. We’re now building the foundation for sustainable AS OF END OF 2019) 380 development and a brighter future for all. GLOBAL NETWORKS (AS OF END OF 2019) 85 DOMESTIC AFFILIATES (AS OF END OF 2019) 68 YEARS OF HISTORY (FOUNDED IN 1952)

66 67 Milestones

Foundation of a Business Business Expansions The Second Foundation Building Momentum Accelerating Global Business 1952–1963 1964 –1980 1981–1995 1996–2006 2007– Present

RESTORING A MODERNIZATION STRATEGIC RESTRUCTURING EMERGING AS NATION’S ECONOMY OF A NATION DIVERSIFICATION FOR THE NEW CENTURY A GLOBAL LEADER

After the Korean War, Hanwha As the nation’s economy grew, When became During the 1997 Asian financial crisis At the turn of the 21st century, Hanwha Hanwha Life’s investment to expand played a critical role in reconstructing so did Hanwha. Our success came from Hanwha’s second chairman, that either crippled or nearly paralyzed began accelerating its global expansion globally began with its Vietnam subsidiary our devastated nation. In 1952, aggressive and strategic investments in the company’s Second Foundation had most companies in South Korea, by diversifying its businesses and building in 2008 that led to another acquisition—an Korea Explosives Co. (now Hanwha key industries that could accelerate the effectively begun. And in the aftermath of Hanwha took bold actions, innovating a robust network of overseas operations. Indonesian life insurance company in 2013. and restructuring. We secured liquidity Hanwha Solutions acquired US-based Recently, the company entered the Fintech Corporation) produced industrial modernization of our nation. In the mid- the global oil shock in the 70’s, one of Mr. by selling profitable affiliates, made AZDEL Inc. and established a production sector to capitalize on more opportunities explosives desperately needed for 1960s, we established the Korea Hwasung Kim’s key decisions was to diversify into employee job security our priority, and subsidiary in the in that could provide greater financial security the reconstruction of our country’s Industrial Co. (now Hanwha Solutions) the petrochemical business by acquiring moved forward with faith in our spirit 2007 to increase its standing as a global to people worldwide. Solarfun Power infrastructure. The company succeeded and entered the petrochemicals business. Hanyang Chemicals and Dow Chemicals of trust and loyalty. We sought new automotive component maker. In 2011, Holdings and Q.CELLS were acquired in in producing nitroglycerin in 1959 and After launching Kyung-In Energy in 1969, Korea. He quickly turned the failing opportunities and began acquisitions. Hanwha Solutions completed the 2010 and 2012, respectively, paving the became only the second country in Asia to we established Hankook Precision in businesses into a global powerhouse One of them was Korea Life Insurance construction of a PVC plant in Ningbo, way for Hanwha Solutions to join the produce industrial explosives. Since then, 1971 (now Hanwha Corporation/ (now called Hanwha Solutions) in the in 2002, a business that we have since China. In 2012, Hanwha Engineering ranks of the world’s top solar cell producers. much has changed and Hanwha today Machinery). We sharpened our global chemical market. Under Mr. Kim’s grown steadily to make it the second & Construction won a USD 10 billion In 2019, Hanwha Solutions became has expanded its business enterprise competitiveness in the machinery leadership, we’ve also diversified into largest life insurance carrier in South contract to construct an entire city in Iraq. the market leader in the US (residential Korea with assets of USD 104 billion in globally. One thing, however, remains the business by acquiring Shinhan Bearing finance and services & leisure. In 1985, It was the largest overseas contract ever and commercial markets), Germany, the 2019. We emerged from the financial awarded to a Korean company. UK, and Japan. Our progress and successes same: our mission that a business should Industrial. And in 1972, we continued to we acquired the Junga Group (now crisis without a single labor dispute and reflect our efforts and focus to strengthen contribute to its society; and we do. advance South Korea's industrialization by Hanwha Hotels & Resorts) to were heralded as a role model for other our global competitiveness and adopt constructing Kyung-In Energy's refinery become Korea’s leading leisure company. South Korean corporations to follow. preemptive technologies. and power plant. In 1986, we also acquired Hanyang Store (now Hanwha Galleria) and expanded into the retail industry.

1952 Korea Explosives Co. 1965 Korea Hwasung Industrial 1976 Sungdo Securities (now 1994 Hanwha R&D Center is 2002 Hanwha acquires 2007 Hanwha announces its 2012 Hanwha acquires 2015 Hanwha General (now Hanwha Corp.) is (now Hanwha Solutions) Hanwha Investment & built Korea Life Insurance new corporate identity Germany-based Q.CELLS Chemical, Hanwha founded is founded Securities) is acquired (now Hanwha Life) and Hanwha Solutions Techwin and more is launched companies are launched 1986 Hanyang Stores (now Hanwha Galleria) is acquired

68 69 * The financial data in the Financial Highlights show the simple aggregate of sales, risks, market conditions, uncertainties, or changes in circumstances. In addition, Financial Highlights * total assets, total liabilities, and total stockholder equity among ’s the actual results may differ from the published or suggested content herein, * major affiliates at home and abroad. (Source:Hanwha Group) and may change without prior notice due to shifts in market conditions and * Figures for sales and total assets of individual affiliate companies published on change in strategies. This data was generated for reference purposes only. page 75 and subsequent pages of this brochure are data officially announced by Hanwha Group has no obligation to set or change expectations and forecasts the Financial Supervisory Service. for the future contained herein. The data contained herein must not be used for * This outlook data was generated prior to completing the internal financial investment purposes. Hanwha Group does not provide any guarantee for statements, accounting reviews, and an external audit report and are therefore the data and its contents, and has no liability or responsibility for the outcome of subject to change upon settlement of accounts and accounting audit results. investments made based on this data. The outlook data also include information on forecasts that may be affected by

TOTAL SALES TOTAL ASSETS TOTAL LIABILITIES TOTAL In USD Millions In USD Millions In USD Millions STOCKHOLDERS EQUITY In USD Millions

149,474 187,327 148,185 37,853 185,814 37,629 62,007 36,518 57,645 57,011 179,382 142,864

2018 2019 2020 2018 2019 2020 2018 2019 2020 2018 2019 2020 (E) (E) (E) (E)

* Sales are converted into US dollars at the average exchange rate of USD 1= KRW 1,100.30 in 2018, and KRW 1,165.65 in 2019. * Assets, liabilities, and shareholder equity amounts are converted into US dollars at the December 31 closing exchange rate of USD 1= KRW 1,118.10 in 2018, and KRW 1,157.80 in 2019. * The 2019 expectancy data was converted based on Hanwha Group’s internal exchange rate of USD 1=KRW 1,133. 70 71 Hanwha BUSINESSES Manufacturing & Construction

Hanwha Corporation Hanwha Aerospace Hanwha Defense Hanwha Systems Hanwha Techwin Hanwha Precision Machinery Hanwha Power Systems Hanwha Solutions Hanwha General Chemical Hanwha Petrochemical

Hanwha Energy Hanwha Engineering & Construction Hanwha City Development

74 75 Hanwha Hanwha Corporation, the parent We entered the defense industry in 1974 parallel, we’re continuing our innovations the Korea Air and Missile Defense (KAMD), We’re set to lead company globally and And with our technology and ability to company of the Hanwha Group, is and our Explosives & Defense Division and developing high value-added Kill Chain and Korea Massive Punishment confident we can because along with the build quality, we’ve been able successfully Corporation a global manufacturing and trading quickly became instrumental in the technologies. Through large mergers and and Retaliation (KMPR), the South Korean advanced operating systems, we have segued into producing high-quality solar www.hanwhacorp.co.kr company that has directly contributed to development of South Korea’s military acquisitions, we further increased our government regard us as not only reliable the people and talents to do so. cells and modules in our world-class the growth of South Korea's economy. defense. We provided the South Korean business footprint to include self- but also as a “trusted global partner in manufacturing facilities. We’re already There are 4 divisions under the military with manufactured precision- propelled guns and engines for aircraft providing innovative defense solutions.” Established in 1953, our Machinery recognized in solar power equipment EXPERTISE Hanwha Corporation: Explosives, guided munitions, advanced and fleets, effectively entering the Not to stay satisfied by achievements, we Division is today leveraging its deep manufacturing in markets across the Explosives: Industrial explosives products, Defense, Trade, and Machinery. ammunition, navigation system, lasers, aerospace business. We then heavily continue to develop our core business experience and cutting-edge technology globe. With continuous R&D and raw explosives materials, explosives and underwater surveillance equipment. invested in defense electronics such as competencies and strengthen our to lead the machinery equipment innovations, Hanwha Corporation/ applications, domestic and overseas Hanwha Corporation was founded in radar and combat systems. By 2018, we internal capabilities. industry worldwide. We produce Machinery will not only be a global mining services 1952 as Korea Explosives company, Since entering the mining services became very competitive as a high-value-added machinery equipment leader in machinery equipment but a Defense: Precision-guided munitions, quickly becoming the leader in explosives market in 2014, and since then, we’ve manufacturer of navigation systems and Our Trade Division is an international with a focus on heat treatment, factory total engineering solutions provider. advanced ammunition, navigation and, in effect, creating the industry itself quickly established ourselves in Indonesia lasers—the core technologies of the trading company that has played a automation, and evaporation processing. systems, laser in South Korea. The company has since and Australia with high-quality products future weapon system. These are our new leading role in globalizing Hanwha Trading: Petroleum, petrochemicals, grown into a global manufacturing and and services. Then in 2015, we acquired growth engines. Group after it was founded in 1966. We Our Machinery Division is leading the steel, machinery, defense sales, trading company operating in four the Australian mining service company have built a global network of more than logistics automation industry using construction materials, business areas—explosives, defense, LDE and by pricing our high-quality Today, Hanwha’s Explosives & Defense 25 overseas corporations and offices. Our advanced factory and warehouse automation facilities, wholesale food trading, and machinery. products competitively, we were able to Division continues to apply its extensive network allows us to work in synergy in automation technology that we’ve been ingredients accelerate our market expansion. That experience and explosives technology to world markets for the Hanwha Group. honing for the last 45 years. Our In 1959, Hanwha had become the first same year, we completed our full vertical expand into raw explosives materials, We’re deepening our network within the automation business is stronger than Machinery: Semiconductor and display domestic manufacturer of dynamite in integration of nitric acid-ammonium explosives manufacturing, and explosives countries we operate and in them, setting ever. We successfully completed the manufacturing equipment, factory South Korea. After having successfully nitrate-industrial explosives by acquiring applications. the groundwork to generate stable profits world’s first system to automate the entire and warehouse automation (logistics), developed safer, high-quality industrial production lines that included everything from businesses in petrochemicals, steel, process in tire production. We are also secondary battery production equipment, explosives and Initiating Systems, we from prilled ammonium nitrate to Our work to bring the level of the South machinery, and merchandising. We’re innovating and making great strides in solar cell and module manufacturing have been able to supply the South electronic detonators. Our expanded Korean defense industry to the Fourth intent on discovering and fostering new production logistics by building Smart equipment, collaborative robots Korean government with the crucial portfolio of products and focus on Industrial Revolution era has been business models, including machinery Factories that combine highly automated means to rebuild its cities and meeting the needs of our customers have recognized by the South Korean exports, food ingredients wholesaler, and assets with Industry 4.0 technologies. 2019 Total Sales infrastructure. enabled us to expand further into other government. For our work in the forming energy projects. In USD millions major markets across the globe. In the Korean 3-axis system by combining 3,785

2019 Total Assets In USD millions

6,850 Hanwha Corporation provides solar machinery to Hanwha Solutions, one of the world’s largest photovoltaic manufacturers, recognized for its high-quality, high-efficiency solar cells and modules.

76 77 Hanwha Hanwha Aerospace is the only components and gas turbine engine We’re in an industry that sees changes Hanwha Hanwha Defense is expanding its Used along with the K9, it is the world’s CHUNMA—a highly effective weapon aircraft engine producer in South Korea solutions that our nation needs and those great and fast but despite them, we’ve global business and is establishing itself first fully operational automated system to counter low-altitude aerial Aerospace and trusted in the global market for our that are also desired by markets all over continuously achieved great successes Defense as a total defense solutions provider with ammunition support system. Hanwha threats against any major facility. www.hanwhaaerospace.com original application technologies. the world. In 2015, we began a and we remain committed to becoming www.hanwha-defense.co.kr stronger competitive offerings that Defense also manufactures more than partnership with UTAS, a company in the top global partner in aviation include artillery systems, armored 40 land-based launcher systems and naval Hanwha Defense is taking the lead in EXPERTISE In 1977, Hanwha Aerospace began Turkey, to export aerospace parts. In the engine parts. Our strategy is simple: We EXPERTISE vehicles, air defense systems, and launchers, including the Chungung the development of unmanned ground by building businesses in the aircraft same year, our aerospace maintenance anticipate the ever-changing markets unmanned ground systems. (surface-to-air missile launcher), and the systems. Its innovative and cutting-edge Gas turbine engines, engine Artillery systems, armored vehicles, engine and film camera industry. Since business also signed a memorandum of and address them through continuous Korean Vertical Launching System (KVLS). defense solutions are ready for any future components, aircraft components air defense systems, then, we’ve aggressively invested in understanding with GE. In 2016, we development of technology with a focus By applying its extensive knowledge, battlefields. These solutions include the unmanned ground systems research to develop our technologies in became a trusted partner in the global on quality. experience and technological capabilities, Hanwha Defense has a diverse technologically advanced Tactical 2019 Total Sales optics, video, and military aircraft engines. aircraft industry when we entered Hanwha Defense has been able to portfolio of armored vehicles that are Unmanned Ground Vehicle, the In USD millions We’ve then expanded into aircraft a contract with the United States’ Pratt & 2019 Total Sales develop the world’s leading weapon highly maneuverable and exceptionally Remote-Controlled Weapon Station components and commercial engine Whitney to operate a joint venture with In USD millions systems portfolio that can excel in almost adaptive in multi-domain combat (RCWS), and the lithium-ion battery parts business. To evolve as we have, Singaporean manufacturing company. any dimension of warfare. Hanwha operations. Key products include the system for submarines. 4,516 we’ve had to successfully develop top-tier Our partnership with Pratt & Whitney is a Defense’s weapon systems have raised 120mm self-propelled automatic mortar and original application technologies that Risk and Revenue Sharing Partnership the standard for the global defense system; seven types of specialized Hanwha Defense has strengthened its gave us the competitive edge needed for (RSP) to co-build the next-generation 1,255 industry. Its wide selection of world- armored vehicle models leveraging the reputation in the global market as a 2019 Total Assets our businesses around the globe. And as aircraft engine. This partnership renowned products including artillery technologies from the K200 Armored trusted partner due in no small part to its In USD millions our technologies advanced, so did our represents our joining the ranks of other 2019 Total Assets systems, armored vehicles with Personnel Carrier, such as the NBCRV advanced technology and consistent expertise and our ability to not only meet leading aircraft engine manufacturers of In USD millions outstanding mobility and adaptability, air (Nuclear, Biological, Chemical product quality. Since the export of the the changing market demands but also the world. In 2017, we established a defense systems with state-of-the-art Reconnaissance Vehicle); and the K21, which K200 armored vehicles to Malaysia in 7,522 anticipate them. production base in Vietnam to improve technology, and unmanned ground is a world-class infantry fighting vehicle. 1993, marking the first large-scale our cost competitiveness and increase systems utilizing technological overseas sales by a South Korean defense As South Korea’s only manufacturer of gas production capacity. In 2019, we acquired 1,612 innovations, deliver optimal results Hanwha Defense is applying the latest company, Hanwha Defense has been Hanwha Aerospace total sales and turbine engines for the last 40 years, we EDAC Technologies, the US aircraft engine designed for the future battlefield. technologies that can be used to expanding its global footprint by total assets are based on consolidated have been in a fortunate position to component manufacturer, and launched effectively respond to various aerial exporting the K9 SPH and K10 ARV. In financial statements. capitalize on all the opportunities to build Hanwha Aerospace USA to expand Hanwha Defense has successfully targets. We offer complete air defense addition, global marketing activities are a powerful business in aerospace. We our product portfolio and leverage developed artillery systems designed to solutions that can thwart a broad under way to aggressively promote the now provide a range of aircraft high-end processing technology. operate optimally in modern warfare. spectrum of mid and low-altitude aerial Hybrid BIHO air defense system, the Tigon Over the years, the experience of threats. The 30mm Hybrid BIHO wheeled armored vehicle, and the Redback producing more than a thousand K55 self-propelled air defense system is next-generation infantry fighting vehicle. Self-Propelled Howitzers (SPHs), has renowned for significantly elevating South allowed Hanwha to hone its skills to Korea’s air defense. The system includes Thanks to the continuous innovations and build its world-class K9 Thunder SPH anti-aircraft guns and guided missiles that sustainable R&D investments, Hanwha artillery system that boasts overwhelming are capable of engaging low-flying targets Defense is poised to become the firepower, higher maneuverability and and delivering optimal lethality. One of market leader providing a comprehensive outstanding survivability. Also notable is these air defense systems is South Korea’s set of defense solutions. the K10 Ammunition Resupply Vehicle. first surface-to-air guided system, the

World-class quality and continuous R&D have Leveraging our industry experience and propelled Hanwha Aerospace’s success as expertise, Hanwha Defense is becoming a global aviation products supplier for fighter a leading defense company with cutting-edge jets and UAVs. convergence solutions.

78 79 Hanwha Converging defense ICT and Our surveillance and reconnaissance Hanwha Systems ICT Division has Hanwha Hanwha Techwin, a renowned global market. However, 75 percent of our total information infrastructure is part of systems that we developed for South accrued deep level experience in systems security company, provides optimized sales comes from our overseas markets. Systems Hanwha Systems’ deep efforts to Korea’s national defense include the integration and management from Techwin security solutions across a range of www.hanwhasystems.com bring the Fourth Industrial Revolution to thermal observation device (TOD), having developed world-class IT solutions www.hanwhatechwin.com areas—including residential, urban, and Our products are sold through more than the public and private sectors, electro-optic tracking system (EOTS), and services over the years for a variety of commercial facilities—with its world- 16,000 global sales networks across Europe, including the military. infrared detection tracking equipment industries, including manufacturing, EXPERTISE class image-processing technology. the Americas, the Middle East, and Asia. EXPERTISE and multifunctional observation scopes. defense, construction, financial services, Video surveillance solution The strength and breadth of our networks Defense: Aerospace systems, Hanwha Systems is a leading global Hanwha Systems is using cutting- retail, service, and education. We’re now Established in 1990, Hanwha Techwin’s affords us the ability to market and sell our surveillance, and reconnaissance total solutions company providing edge technology to make significant building customized systems with advanced optical design, manufacturing, products directly to our customers. systems, C4I-SR systems, naval systems, differentiated smart technologies in improvements to its radars like the L-sam expertise that differentiates us and makes 2019 Total Sales and image-processing technology have land systems, defense ICT defense electronics and information multi-function radar and M-sam us more competitive in these industries. In USD millions made it a global leader in video Incorporating the next generation of ICT: Integrated IT business services infrastructure. Our advanced defense IT multi-function radar. At the same time, surveillance. We’re heavily investing in R&D technologies, such as deep learning, AI, and and system integration capabilities make we’re developing new radars to our Our ICT Division operates a Cloud-based to innovate and meet the ever-changing business intelligence, is at the core of what us more market competitive. Our defense portfolio like the FFX Batch-ΙΙΙ multi- Big Data center that provides data market needs. In so doing, we’ve been Hanwha Techwin is doing to ensure 2019 Total Sales 498 IT & system integration capabilities function radar. analysis. And combined with our smart gaining recognition as a global top-tier our portfolio of security solutions will In USD millions combined with our product portfolio factories powered by IoT and Big Data company. By applying our experience and catapult us to the forefront of the Fourth differentiate us, position us to lead in Hanwha Systems’ C4I businesses rely technologies, we’re developing 2019 Total Assets subject matter expertise to our product Industrial Revolution. We are becoming a In USD millions defense electronics, and allow us to completely on our original technologies capabilities to improve productivity, development, we’ve been able to create a global security solutions provider with 1,326 naturally expand into areas of public to develop products that can operate in predictability, quality, and processes for complete line of security solutions, from industry-leading cybersecurity technology infrastructure and private security. future combat environments. We our companies and our clients. We’re cameras and recorders to integrated that offers customers the highest level of produce next-generation tactical even helping our nation as a whole— management software. Our products are confidence and satisfaction. 2019 Total Assets 477 Since its founding in 1978, the Hanwha information communication networks keeping cities safe with our integrated designed to meet every application, In USD millions Systems Defense Division has (TICN) using these technologies and security and control platforms designed including urban surveillance, retail, significantly advanced the defense next-generation satellite communications for the public infrastructure. Hanwha Techwin total sales and transportation, and banking. capabilities of South Korea’s military. The systems. We are South Korean Navy’s sole total assets are based on consolidated 2,082 knowledge we’ve gained from working supplier for their naval combat We’re on a path to an unprecedented financial statements. We manufacture over 2.15 million video with the South Korean military and the management system. Our proprietary transformation, seeking both possibilities surveillance devices in South Korea, China, 40+ years developing systems used technology is at the heart of their and opportunities with digital and Vietnam. We maintain the largest share globally are being used to develop enhanced combat systems and innovations and in disruptive of the South Korean video surveillance advanced systems for surveillance, integrated solutions for sensors and technologies that combine AI, IoT, and reconnaissance, control, communication, armament. Big Data. We’re building internal computer, and intelligence (C4I), naval blockchain platforms and forging and land. Our strategy is to lead the future defense technology partnerships with leading industry by improving our technical companies like Element AI in anticipation We are using our state-of-the-art capabilities and building strong of the Fourth Industrial Revolution. aerospace technology to develop South relationships with key partners who are Korea's first synthetic aperture radar (SAR) leading in the Internet of Things (IoT) and for military reconnaissance satellites and Artificial Intelligence (AI). an active electronically scanned array (AESA) radar for the next-generation Our seven customer support centers Hanwha Techwin’s flagship Wisenet brand South Korean fighter KF-X. We are also across the nation provide product represents our technological excellence in video surveillance systems. Hanwha developing core avionic electronics for support for weapon systems operations. Techwin offers a wide range of products fixed wing, rotary wing, and unattended Hanwha Systems offers integrated from economically affordable to premium systems. logistics support (ILS) with timely grade solutions that can be customized. customer support, guaranteed.

(left) Hanwha Systems R&D Center develops cutting-edge technologies to build world-class radars, electro-optics, missile seekers, and tactical communication systems.

(right) The Hanwha Data Center embodies a state-of-the-art integration infrastructure that enables our clients to derive better solutions value for their customers.

80 81 Hanwha Precision Hanwha Precision Machinery is a developed high-speed mounter HM520 lathes and turret-type lathes. Our Hanwha Power Hanwha Power Systems is the outstanding technology in the global Our next goal is to become a global Smart Factory total solutions company boasts world-class productivity and is machine tools are custom built to meet global energy equipment company in market. Our compressors and expanders top-tier power and energy solutions Machinery driving the development of the recognized by global customers for its customer feature requirements and Systems South Korea with independent design, use core components developed supplier. To this end, we’re working to www.hanwhaprecisionmachinery.com next-generation products in the modular head and various production production lines—they’ve allowed us to www.hanwhapowersystems.com production, and testing capabilities. The in-house that make them operate with strengthen our product portfolio in the manufacturing industry. We are modes. capture the largest market share in CNC diversity, quality and the advanced shorter lead times and better compressor business and expand into EXPERTISE leveraging our subject-matter expertise automatic lathes in South Korea. EXPERTISE technology of our products have performance. Their high efficiency serves turbine-related businesses that can built over the years and continuously Hanwha Precision Machinery’s provided the highest value to our as a competitive advantage to our support petroleum gas and power Chip mounters, screen printers, innovating to provide a comprehensive T-Solution is a comprehensive SMT Our solutions that include the SMT Industrial air and gas compressors, customers around the world. customers. generation customers. One such strategic semiconductor equipment, portfolio of products to deliver production line solution designed for mounters, and machine tools, are just gas turbines, power generation systems cooperation is with Baker Hughes (BH) to machine tools meaningful customer value. Smart Factories. It connects all assets in a some of our products that represent our After its establishment in 1977, Hanwha Hanwha Power Systems is intent sell its packaged products, including gas production line and utilizes Big Data commitment to innovation and our 2019 Total Sales Power Systems launched its energy on building long-term partnerships while turbines, steam turbines, and barrel 2019 Total Sales After developing the first Surface Mount analysis to provide seamless operations, ability to overcome the toughest of In USD millions equipment business in 1997 on the rapidly expanding its sales, customer compressors. In 2019, we signed an In USD millions Technology (SMT) chip mounter in 1989, better quality control, and the ability to challenges. We do this to develop strengths of reliable technology and deep service and R&D networks globally. We’re official service center contract with BH to Hanwha Precision Machinery has operate remotely. T-Solution, recently customer-oriented solutions that deliver experience in gas turbine engines. Since collaborating closely with our global serve the South Korean market. become a leading worldwide Smart launched, embodies the principles of greater efficiency, versatility, and value. then, we’ve become a global offices and strengthening our Factory solutions provider, offering Industry 4.0 in terms of interoperability, We do this because ultimately, as 195 powerhouse and have delivered more partnerships so that we can provide We are currently working to fulfill our 309 semiconductor equipment, insertion and connectivity, and autonomy. It yields partners, when our customers succeed, than 6,000 units of air and gas better local customer service for our contract with the US Department of assembly automation equipment, higher production efficiencies, greater we succeed. 2019 Total Assets compressors worldwide. Using advanced expanded product line. We’re also Energy (DOE) to develop sCO2 engines. 2019 Total Assets machine tools, and integrated software installation accuracies, zero defects, In USD millions technology, we developed high-value- focusing on building closer relationships The sCO2 project with the US DOE is In USD millions solutions. and lower maintenance costs. added product lines. Our product lines with key customers in the oil & gas expected to help us become a game include industrial air compressors, fuel industry. For example, we have been changer in the distributed power After launching in 2013, our flagship We’ve been in the machinery business for gas compressors for power plants, and working on securing vendor approvals generation market by effectively DECAN series has continuously evolved. It over 50 years and, in that time, 214 boil-off gas compressors for LNG from Saudi Aramco and other major supplanting the steam turbine market. 217 is now a high-speed mounter that is continuously built up our expertise and terminals and plants. clients in the Middle East and Asia. At the With the successful completion of this arguably the world’s only modular improved our technology. Our success same time, our Houston R&D Center in project to manufacture products like the conveyor system whose key components can be seen in our machine tools We won the contract to supply the the US is accelerating co-development turbo expander generator (TEG) that uses can be replaced. The SM Series is our business that commands a technical world's first marine Vapor Recovery Unit efforts on innovative projects, on a global waste heat for power and chemical bestselling product line with best-in-class advantage in the market by producing (VRU) steam recovery turbo compressor. scale. One of these joint development plants, we expect to secure a leadership performance. In addition, our newly South Korea’s first multitasking automatic We also have provided compressors for projects is with the Southwest Research position in the market boasting Floating Storage Regasification Units Institute (SwRI) to build a supercritical eco-friendly power generation solutions. (FSRU) and LNG carriers. These machines carbon dioxide (sCO2) engine. allowed us to demonstrate our

Hanwha Precision Machinery’s In the petrochemical process, our compander high-speed chip mounter HM520 boasts is a state-of-the-art turbomachine that features best-in-class real productivity and is optimized the capabilities of both a compressor and for high-quality production with its modular an expander. Hanwha Power System’s head and various production modes. We compander represents the company‘s leading consistently exceed customer expectations expertise in turbo compressor and turbo with our state-of-the-art high-speed expander technology. modular system—part of our Smart Factory solutions with unmanned, continuous, and zero-defect production.

82 83 Hanwha Hanwha Solutions was formed in 30,000 tons of CPVC annually. We also annual capacity of 17,000 tons. This facility premium plasticizer, while developing innovations. Our Malaysia plant alone was local installers, winning the Top Brand PV also capture the biggest market shares 2020 with the merger of Hanwha expanded our line of specialty products. serves as an important base of operations South Korea’s first localization of able to produce more than 1GW of Seal 2020 from EuPD Research for the across the US (residential and commercial Solutions Chemical, and In 2019, our entry into the high-quality as we enter other markets in Southeast high-purity xylyl diisocyanate (XDI), a raw Q.ANTUM cells annually in 2015, the first seventh time in a row in Europe and for markets), Germany, the UK, and Japan. www.hanwhasolutions.com Hanwha Advanced Materials. We adhesives market was led with the Asia. material for high-end optical lenses. We of its kind in the industry. In Q1 2019, we the fifth time in Australia. aim to deliver sustainable solutions for construction of a plant and its are also developing a circular economy penetrated the US market and began our Q CELLS Division has been recognized for EXPERTISE the planet through smart energy commercial production. This new plant Hanwha Solutions was the first South system, in which decomposed plastic acceleration to expand across the country Our technology infrastructure enables its business capabilities, original solutions and customer-focused could produce up to 50,000 tons of Korean petrochemical company to tap waste can be recycled into naphtha, the starting with the construction of a 1.7GW differentiated technology innovations. technology, strategic investments, and Chemicals: PE, PVC, CA, TDI materials. We are committed to dicyclopentadiene (DCPD) hydrogenated into new business opportunities in the raw material for petrochemical products. capacity solar module plant in the state of Our R&D headquarter is located in job creation in South Korea. We were Q CELLS: Solar cells & modules, energy enriching the future with sustainable petroleum resins annually. Hanwha Middle East. We signed joint venture They represent our commitment to a Georgia. Thalheim, Germany and our R&D network awarded the Presidential Award at the system solutions, downstream activities, solutions for all, from energy to partnered with three universities to set up contracts with International Polymers better environment for a better future. is located across China, Malaysia, and 16th Annual Korea New Growth energy retail materials. centers such as the Institute of Chemical Company, a private petrochemical Our Q.ANTUM technology is based on South Korea. Our R&D centers all receive Management Award event in 2019. Advanced Materials: Automotive Process at Seoul National University, company in Saudi Arabia, and Gulf Q CELLS Division is a total energy solution PERC cell technology, providing Hanwha’s continuous support and materials, electronics materials, solar Established in 1965, Chemical Division is a Yonsei-Hanwha Chemical Innovation Advanced Cable Insulation Company provider worldwide. Our business scope mono-crystalline efficiency for investments to develop solar technology, materials total solutions chemical company with Technology Center, and the KAIST- back in 2009. Then in 2015, we achieved ranges from the midstream of cells and multicrystalline module cells. The including Anti-LID, Anti-LeTID, Tra.Q, and streamlined production systems to offer Hanwha Chemical Future Technology cost reductions and economies of scale modules to downstream solar solutions multicrystalline Q.ANTUM module, more. 2019 Total Sales Polyolefin (PO), Polyethylene (PE), Research Center. It was a significant step as our joint venture with International for residential, commercial and industrial Q.PLUS, won the Module Manufacturing In USD millions Polyvinyl Chloride (PVC), Chlor-Alkali (CA), forward in our commitment to make Polymers began to produce EVA and buildings, and large solar power plants. Innovation award at Solar Industry By employing our cutting-edge Chemical Division and Toluene Diisocyanate (TDI). And as quality a top quality while accelerating LDPE. With Gulf Advanced Cable We are already a global leader but with Awards 2015 in Hamburg, Germany. For technology and economies of scale, South Korea’s leading petrochemical the pace of innovation to develop Insulation, we produced wire and cable our expertise and strategy optimized for two consecutive years, Q CELLS Division Q CELLS Division has been able to take company, we dominate the nation’s high-value-added and eco-friendly compounds. worldwide energy market trends and has won the Intersolar Award in the advantage of the growing demand for chemical industry with high-quality and products. policies, we’re poised for greater growth. from Intersolar, the most solar power around the world. We have 3,025 eco-friendly products that we offer at In 2016, through a strategic acquisition of prestigious solar energy conference and been able to offer higher quality products competitive prices. We continue to improve production Hanwha Fine Chemical company, we Since our foray into the solar energy exhibition in Europe. In 2017, our Q.PEAK at competitive prices. In 2014, we entered Q CELLS Division efficiency and cost competitiveness while were able to achieve maximum synergy business in 2010, the Hanwha has RSF L-G4.2 steel-frame module also won the rooftop solar power equipment In 2012, we successfully commercialized meeting the growing demand for our in production processing of CA and vinyl transformed its Q CELLS Division into the in the Photovoltaics category. The market in Japan and Europe and high-density ethylene vinyl acetate (EVA) products around the world. Our PVC chloride monomer (VCM) while world’s leading producer of solar following year, in June 2018, our Q.PEAK large-scale power plant markets in the 3,050 for the first time in South Korea. Just four plant, completed in 2011 in Ningbo city enhancing our production efficiencies modules. Q CELLS Division has a total DUO-G5 solar module also won in the US, Thailand, Chile, and Latin America. In years later, we localized the production of of China’s Zhejiang province, was built to with TDI, a raw material for polyurethane capacity of 11.3GW as of the end of 2020 Photovoltaics category, earning high the same year, we secured a series of Advanced Materials Division chlorinated polyvinyl chloride (CPVC), produce up to 300,000 tons of PVC products. and its current production network spans praise for its 120 half-cell, six-bus bar large solar projects across Europe—in the enhancing the quality of our PVC. We annually. Today, with continuous across China, Malaysia, South Korea, and monocrystalline module that the UK, France, and other countries. In 2015, obtained the New Technology improvements in the production process, Our facilities at our Chemical Division the US. Bolstered by strong revenue and Intersolar jury panel called “the new we partnered with US-based NextEra Certification from the Korean Agency for the plant is producing 350,000 tons of deploy advanced technologies that driven to stay ahead of the growing standard for residential and commercial Energy to manufacture 1.5GW of 693 Technology and Standards. And starting PVC each year. In Bang Phli, Thailand, we produce high-value-added products, worldwide demand, we’re continuing to rooftops.” Q CELLS Division was selected modules, accelerating our entry into one in 2017, we have been producing up to built an alkali soluble resin plant with an such as ECO-DEHCH, an eco-friendly invest in R&D and manufacturing as one of the best PV manufacturers by of the world’s largest solar markets. We 2019 Total Assets In USD millions Chemical Division

The outstanding quality control capabilities of Anti-LID, Anti-LeTID, and Tra.Q demonstrate 7,453 how Q CELLS Division's global R&D can Q CELLS Division successfully leverage a variety of solar technologies. 7,780 Advanced Materials Division 1,212

Sales and total assets above are based on Hanwha Solutions’ consolidated financial statements, which extracted some of performances from the Chemical, Q CELLS and Advanced Materials Divisions.

Chemical Division’s Ningbo PVC plant in Zhejiang, China, was completed in 2011, enabling us to target China’s PVC market with outstanding quality and value.

84 85 Founded in 1965, our Advanced Materials why we had strengthened our (insulation film), 3-layer Flexible Copper Hanwha Hanwha General Chemical was the And since joining the Hanwha Group, Division has developed an innovative line investments in R&D years ago so that we Clad Laminate (FCCL), bonding sheet first company in South Korea to localize we have become more globally of environmentally-conscious products could lead in the changing industry. We (adhesive sheet), and Electro-Magnetic General Chemical production of purified terephthalic acid competitive by creating synergies with and technologies that meet the needs of have been focusing our research on (EMI) shielding film. Furthermore, we are hgc.hanwha.com (PTA). We’re maintaining our No. 1 chemical affiliates and diversifying our our customers around the world. We thermoplastic, thermosetting composite actively responding to the 5G market by domestic market share while exporting markets through innovative management developed local production plants and materials, and on designing and successfully developing ion-resistant EXPERTISE our process technology to enter into and sales practices. R&D centers in South Korea, the US, developing new applications. We’ve also materials for microcircuit patterns, such as new businesses. Europe, and China. Our global sales been developing new materials and low dielectric materials and OLED PTA, PV Business In June 2017, we established Hanwha continue to rise. manufacturing methods, offering displays. And we are expanding into Hanwha General Chemical was Solar Power to serve as a growth improved functionality and innovative manufacturing materials used in 2019 Total Sales established in 1974 before being acquired engine for our PV business and to Since entering the automotive materials plastic hybrids that represent the latest automotive electronics and electronic In USD millions by the Hanwha Group in 2015. It was advance our mid- to long-term growth business in 1986, we have launched a technologies in the market. We are battery sensors for electric vehicles. the first company in South Korea to beyond our single PTA business. Today, diverse portfolio of products for actively tracking paradigm shifts in the localize production of purified Hanwha Solar Power is working hard automobile structures and interiors. We automotive market, evident in the terephthalic acid (PTA), a primary to promote and invest in solar energy now leverage original technologies to emergence of smart cars and electric 1,404 component in many types of polyester. business both domestically and build high-strength, super-lightweight vehicles. While keeping pace with this PTA is used in clothing, industrial fibers, internationally. At the same time, to be materials and parts. Among the materials rapidly expanding electric vehicle market, 2019 Total Assets film, and paint. The applications for PTA more globally competitive, we’re working we produce are: StrongLite—Glass fiber we are exploring opportunities for In USD millions are expanding dramatically. to improve our PTA-related technologies Mat-reinforced Thermoplastic (GMT), manufacturing battery cases for electric and develop related businesses in the SuperLite—Low Weight Reinforced vehicles. We’ve helped to commercialize Today, our annual PTA production of two value chain we have built over the last 40 Thermoplastic (LWRT), Expanded our hydrogen fuel cell technology by million tons, makes us No. 1 in both years. Polypropylene (EPP), Sheet Molding developing a hydrogen tank that uses an 3,080 production capacity and market share in Compound (SMC), Long Fiber Reinforced ultra-light composite material made of South Korea. Our experience and Thermoplastics (LFT), Continuous Fiber carbon fiber wrapped in high-strength technology are recognized worldwide. Reinforced Thermoplastics (CFRTPC), and plastic liner. We are also developing future We have leveraged many years of our Ultra-High-Pressure Hydrogen Tanks. mobility markets, such as eco-friendly expertise and applied our PTA processing Advanced Material Division’s StrongLite automotive vehicles, hydrogen-powered technology—technology that we’ve and SuperLite materials captured the ships, personal air vehicles (PAVs), and proven since 2010 in the Middle East. highest market shares globally, in their aerospace. respective categories. We are especially competitive in the high Currently, there is a global trend toward functional film market. Currently, we lightweight automotive parts. Advanced produce components for Flexible Printed Materials Division anticipated this and it’s Circuit Boards (FPCB) such as coverlay film

Advanced Materials Division maintains the PTA is the primary raw material for polyester world’s largest market share for StrongLite and is widely used in PET resin, bottles, films, (GMT) and SuperLite (LWRT)—materials paint, and industrial materials. proven to reduce the weight of automobiles. We are now expanding our operations and production facilities globally to keep up with the rapidly growing market for lightweight composite materials for auto parts.

86 87 Hanwha Hanwha Petrochemical is a The product portfolio of Hanwha (MOTIE), we began as a full-fledged energy produces high-purity Although our production facilities are comprehensive chemical and energy Petrochemical includes basic business. In 2014, we made the biggest petrochemical base materials. We are already technologically advanced with company that produces high value- chemicals, such as ethylene, propylene, investment since establishing the business enhancing customer value with our large-scale production capacities, we’re Petrochemical added chemical and energy products. and butadiene. Hanwha by building an additional aromatics plant, www.yncc.co.kr advanced production facilities, cutting- continuing to make improvements. We www.hanwha-total.com We have a proven track record of Petrochemical also produces base a condensate fractionation unit, and an edge technology, and domain expertise. attribute our improvements and growth generating stable business results chemicals like styrene monomer, ethylene-vinyl acetate (EVA) plant. With the EXPERTISE each year to loyal customers, the use of a through product innovations, strategic paraxylene, and ethylene glycol. With 18 additional production facilities, we now operates the world’s sophisticated management system, and EXPERTISE diversified investments, and economies plant units in the Daesan Petrochemical produce 1.40 million tons of ethylene, 2 Petrochemical leading naphtha-cracking facility in the sound financial structure. Additionally, our Ethylene, propylene, BD, EG, SM, PX, PE, of scale. We have earned South Korea’s Complex, the company is able to produce million tons of paraxylene, and 1.06 million feedstock production Yeosu National Industrial Complex. The professional and highly skilled employees EVA, PP, gasoline, diesel, jet fuel, LPG, World Class Products designation five a wide range of products from those tons of styrene monomer annually. facility was built in 1999 and is located on effectively combine industry expertise solvents years in a row. We continue to dominate needed for energy, such as gasoline, diesel, 2019 Total Sales the southern tip of the Korean Peninsula. with cutting-edge technology, truly our market because of our high quality jet fuel, and liquefied petroleum gas, to We have the No. 1 market share in In USD millions represents a fifty-fifty joint making our workforce a key differentiator. and innovations. polymers that are used in feedstock numerous markets: EVA used in solar cells, venture between Hanwha and Daelim, 2019 Total Sales In USD millions materials, such as polyethylene and HDPE used in bottle caps, EVA used in two South Korean conglomerates that Supported by steady flow of investments, Since its founding in 1988, Hanwha propylene. extrusion coating, flow mark free own naphtha-cracking facilities. The facility product specialization, facility expansion, Petrochemical has led the polypropylene (FMF PP) used in 4,295 annually produces 1.95 million tons of and business focus, we’re one of the growth of the petrochemical business in We are the only company in South Korea automotive composite materials, high ethylene, 1.11 million tons of propylene, top Naphtha Cracking Center (NCC) 8,446 South Korea through technological that operates a naphtha-cracking center (a isotactic polypropylene (HIPP) used in 2019 Total Assets and 5.50 million tons of various companies in the world backed by innovations and by executing its market core facility in our petrochemical plant), a electronic applications, and protective In USD millions petrochemical base materials, including a steady stream of investments and 2019 Total Assets expansion strategy successfully. In 2003, condensate fractionation unit (a refining polypropylene films for display products. benzene, toluene, xylene, styrene continuing to expand our footprint. We In USD millions Hanwha Petrochemical set facility), and an aromatics plant, all in one These products have been recognized as monomer, and butadiene. are, however, focused and as we continue out to build a foundation to become a single complex. This complex represents a World Class Products by MOTIE. We efforts to improve our capabilities, our global chemical and energy company. The successfully organized vertical system— attribute our success, not only to the 2,203 With fully automated and optimized expansion will take us across the globe. company executed this plan by forming a from sourcing to producing to distributing vertical system we employ and our processes producing high-purity 6,113 joint venture with the Total Group, a major the final products. The efficiency we’ve product diversifications, but also to the feedstocks, this state-of-the-art facility French company in the energy and achieved with this system allows us to vast and global network of the Hanwha gives Hanwha affiliates a competitive chemical industry. Since then and after diversify our business portfolio and pursue Group. edge to produce high-quality downstream becoming a Hanwha affiliate,Hanwha stable growth. In 2010, after registering our petrochemical products. Petrochemical has exhibited refining business with the South Korean solid financial performances. Ministry of Trade, Industry & Energy

Hanwha Petrochemical is the As a leader in naphtha-cracking production, leading producer of EVA, used in solar cells, our plant produces ethylene, and the global leader in terms of propylene, and other petrochemical market share. feedstocks. This state-of-the-art facility gives our Hanwha affiliates a competitive edge in petrochemicals.

88 89 Hanwha Starting with its cogeneration business in solar power generation, energy storage business model. We already built a Hanwha Hanwha Engineering & households and 300 schools. The development project to build an entire back in 2007, Hanwha Energy has system (ESS), operation & maintenance 152MWh ESS and currently building a Construction is recognized for its Bismayah New City is the first overseas city. Energy diversified its business portfolio— (O&M) business, system solutions, energy 438MWh solar energy-connected ESS in Engineering & ability to successfully complete project of its kind by a South Korean hec.hanwha.co.kr including solar power, ESS, and LNG—to retail, LNG business and more. South Korea. In Ireland, we also operate a Construction large-scale and complex projects in the company and is expected to be lauded We also developed the nation’s first global market, such as building an entire transform into an energy retail business 120MWh ESS for frequency regulation (FR). www.hwenc.com for its sheer development scale and advanced membrane filtration water city; constructing chemical plants in the EXPERTISE offering a comprehensive set of energy At Hanwha Energy, we also operate Going forward, we plan to implement our global design of an entirely new city. treatment technology and sewage water solutions. Our advanced technology is at solar power plants in the US, Mexico, energy solutions for distributed energy Middle East and North Africa; and treatment technology. By leveraging Cogeneration, solar energy, ESS, O&M, the core of who we are and the means Japan, Vietnam, Turkey, and India. More sources, such as ESS and microgrids in EXPERTISE completing various real estate projects in In 2014, we demonstrated our future technology into what we build system solution, energy retail, LNG by which we can develop eco-friendly, solar power plants are being built in other countries including Japan, the US, General construction, the Americas. technological prowess by successfully that is also eco-friendly, we are raising the highly efficient global energy markets Malaysia and Spain. We are also Australia and in Europe. residential complexes, building the world’s largest domed arena bar for value that can be derived from 2019 Total Sales through a forward-looking global energy developing solar projects in the Americas urban development, industrial plants, Hanwha Engineering & in the Philippines, a bridgehead for our construction projects. In USD millions paradigm. and Australia. In June 2019, we successfully We are also pursuing LNG, a clean energy civil engineering, water treatment Construction has quickly become a Southeast Asian market entry. We are also launched and operationalized our energy source as we look to future growth engine global player by leveraging its extensive building power and petrochemical plants Hanwha Energy is a comprehensive retail business in Houston, the US. In and new business opportunities. In South experience in construction projects and in the Middle East and North Africa, and 2019 Total Sales by applying its new technologies and energy solutions company. We operate February 2020, we also began our energy Korea, we are partnering with Hyundai In USD millions developing large real estate projects in 632 cogeneration plants to provide a stable retail business in Australia. Development Company (HDC) to build a subject matter expertise across industrial, North America. supply of high-quality electricity and plant in Tongyeong city—a 1GW LNG chemical, and power plants, civil 2019 Total Assets ultra-high-pressure steam to companies in We provide a cloud-based integrated power plant. Once complete, HDC and engineering works, commercial buildings, In South Korea, Hanwha Engineering In USD millions national industrial complexes in South control system for the efficient O&M of Hanwha Energy will jointly supply the 3,474 and more. We’ve been recognized as a & Construction has been responsible Korea. By providing readily available power, solar power plants. Our integrated LNG needed to power the plant and open top global contractor in Engineering for the nation’s largest urban our plants improve the competitive platforms and solutions are applied across LNG terminal rental businesses. Overseas, 2019 Total Assets News Record and our works are often development projects that have included advantage of our off-takers. Our energy our utility scale solar power plants, ESS and as part of our strategy to expand our In USD millions used and referred to as the “bible of the the construction of homes for more than 3,752 solutions consistently comply with South abroad. We also developed a platform to global energy business into new markets, construction industry.” 90,000 households across 169 sites for the Korean government requirements for support small-sized distributed energy we’re entering the gas-to-power market in past 20 years. Recently, we’ve applied our energy efficiency and greenhouse gas sources, which was applied overseas in Vietnam. To this end, we’ve formed a The Bismayah New City is a USD 10.1 extensive experience to build and launch emission reductions. Our relentless pursuit Australia. Our O&M business has helped consortium with Korea Gas Corporation 5,967 billion project, the largest urban a new residential brand, FORENA. to improve our technology gives us the businesses manage and improve plant and Korea Southern Power Company to development in Iraq’s modern history. It is FORENA provides customers with means to continuously improve our performance and deliver stable growth of build LNG plants and LNG terminal also Hanwha Engineering & differentiated residential products that existing solutions and at the same time, customer assets. businesses in Vietnam. Construction’s flagship project. connect people to premium living space. seek new ones. To build sustainable Bismayah city will be the world's largest We led the industry by pioneering growth, we are diversifying our energy In addition, we are expanding our energy urban construction that includes large-scale site construction, including business and building businesses overseas system solutions with our smart energy infrastructure facilities to support 100,000 Daedeok Techno Valley, South Korea’s first

This cogeneration plant provides a stable Hanwha Engineering & Construction’s supply of high-quality electricity and business reputation is recognized globally. Our ultra-high-pressure steam to companies in reputation for reliability and dependability has the Yeosu and Gunsan national industrial allowed us to secure a series of contracts to complexes in Korea. build large-scale petrochemical plants in the Middle East and North Africa.

90 91 Hanwha City Hanwha City Development and the Gyeonggi Hwaseong Bio Valley We’re also building for the future of our exemplifies the kind of business that is project (1,745,000m2, 200 enterprises). local economies. The Siheung Recycling Development needed in the Fourth Industrial Each completed project stood out as Industrial Complex will help revitalize the www.hcd21.co.kr Revolution — it is able to use its an achievement and garnered high praise. local economy by improving industrial experience and know-how to develop The projects are considered exemplary environments, attracting businesses, and high-tech complexes and at the same EXPERTISE development models and not surprisingly, creating local jobs. time, operate in a way to generates the they have been benchmarked by several Real estate development, including trust and loyalty of its local communities. local governments. multifunctional industrial complexes Hanwha City Development has Encouraged by these achievements, we’ve 2019 Total Sales been recognized as the leading private made further investments for the future, In USD millions developer of high-tech industrial breaking ground on the Yongin Techno complexes since it was established Valley project in 2015. There is high in 2001. Starting with success in Daedeok anticipation Yongin Techno Valley will be Techno Valley, additional projects followed, an industrial complex that will be home to 64 such as the Asan Techno Valley project many R&D centers, companies and (2,984,000m2, 300 enterprises, startups in IT, fusion technology, and in 2019 Total Assets 8,000 households), the Seosan Techno other areas of technology. When In USD millions Valley project (1,994,000m2, completed in 2020, the industrial complex 200 enterprises, 6,000 households), the is expected to play an important role as Gimhae Techno Valley project the center of the industrial belt, south of (1,643,000m2, 200 enterprises), Seoul. 228 Finance

Hanwha Life Hanwha General Insurance Hanwha Investment & Securities Hanwha Asset Management Hanwha Savings Bank

Daedeok Techno Valley is the technology hub of South Korea and home of the most technologically advanced companies and research facilities. Daedeok Techno Valley is considered an exemplary model of how a high-tech industrial complex should be built and is credited with revitalizing the local economy.

92 93 Hanwha Hanwha Life outperforms in asset Our efforts have been rewarded with the markets. We provide all the necessary support Hanwha General Hanwha General Insurance is a introduce an electronic signature system, higher-value-added contracts. We are quality stability, sales, and product Grand Prize—the Korea Service Award from to ensure that our subsidiaries can improve major insurer with USD 15 billion in total making it easier for customers to complete posting healthy financial growth by Life development. And we’re moving forward, the Korea Standards Association in the life their competitiveness and win in their Insurance assets. We are internationally recognized transactions from their mobile devices. seeking diverse, stable bonds and www.hanwhalife.com digitizing our advanced capabilities so we insurance sector for eight consecutive years markets. One example is our Vietnam www.hwgeneralins.com for our financial stability and steady We have even introduced mobile alternative investments at home and can lead in the financial markets of the through 2017. We were also inducted into the subsidiary where we executed an effective growth using diversified asset applications for long-term insurance, abroad. EXPERTISE future worldwide. Hall of Fame. The Quality Index survey, localization strategy and a strengthened sales EXPERTISE management strategies and increasing Smart Insu, and an app for auto insurance, managed by Korea Management Asset network nationwide. As a result, our Vietnam customer value. Smart Chadori. Both were specifically As a result, in 2019 we were favorably Life insurance, mortgage and personal Established in 1946, Hanwha Life is not Consulting, gave us top ranking for ten subsidiary became a success story, achieving Long-term insurance, designed to cater to the needs our scored by global credit rating agencies for loans, trust, fund, retirement pension only a leading life insurance company but also straight years for customer service and eight profitability—a first for a South Korean insurer automobile insurance, Established in 1946, Hanwha General customers. Since then, more than one our financial stability and growth potential. it is the first and oldest in South Korea. Early years for our call centers. Since our first in Vietnam. In China, our subsidiary Sino-Korea general insurance, mortgages, Insurance is the first South Korean million customers have installed both Both S&P and A.M. Best, the international 2019 Total Sales on, we played a critical role in developing the certification in 2007, the Korea Fair Trade Life Insurance has a newly appointed local personal loans insurance company funded solely by applications. insurance industry rating organization In USD millions industry and the country’s economic growth. Commission has awarded Hanwha Life CEO and seeking a more thorough domestic capital. Throughout history, gave us a rating of A for our financial In 2019, while expanding, we made sure to with seven consecutive Certifications for localization and digital-based growth. In 2019 Total Sales we’ve played a pivotal role in developing Our efforts to improve customer service strength and potential growth last year. remain structurally sound, reporting total Excellence in Consumer-Centered Indonesia, our subsidiary is building a In USD millions South Korea’s general insurance industry. have been recognized by South Korean assets of USD 104 billion. At the end of 2019, Management (CCM), which led us to be balanced profit structure that is adding value Today, we’re a major insurer with total government organizations with the 13,798 we achieved a 235.3 percent risk-based capital inducted into its CCM Hall of Fame in 2019. to its growth and allowing it to increase its assets of nearly USD 15 billion. We use Consumer Centered Management (CCM) (RBC) ratio, demonstrating the soundness of market share. Moving forward, we are setting advanced services to enhance customer certificate. Our customer service is 2019 Total Assets our asset quality. Our strong ratings from To increase sales and profitability, we are the foundation that will enable us to be 6,883 value and offer a comprehensive product evaluated by the Korea Consumer Agency In USD millions domestic and international agencies attest to focusing on value-based sales, improving established as a comprehensive financial portfolio ranging from long-term and certified by the Fair Trade Commission our creditworthiness. We have received product features, and expanding protection- solutions provider across major Asian hubs. 2019 Total Assets insurance to auto and general insurance. every two years. Biennially, for the last 12 sterling AAA credit ratings from South Korea’s type and variable insurance sales. We are also From here, we will promote digital financial In USD millions years, we’ve been given the certificate, top rating agencies for the past thirteen years. diversifying our investment assets and products and at the same time, pursue future We created a Consumer Protection charter, affirming the excellence of our customer- 105,162 applying risk management to aggressively growth engines. improved service quality, and minimized centric services. Hanwha Life is committed to adding and preemptively respond to changes in the customer inconvenience to provide an innovative products and services that meet a financial market. In 2019, we continue to In 2020, Hanwha Life continues to secure 15,728 overall superior customer experience. Our company is on an upward trajectory wide range of customer needs. By upgrading sharpen our competitiveness in the market by profitable structures that support value-based We also expanded the scope of what our to build a risk-based management our customer, product, and channel (CPC) using multi-channels to provide differentiated sales and primary profit expansion. We plan to call center agents could do to ensure structure, improve long-term insurance strategy, we provide customized products and products and services and by enhancing expand our global business and secure a one-call, one-stop system. In addition, loss ratio, advance the compensation services that solidify our LIFEPLUS brand. communications across headquarters, sales growth engines in Fintech and Big Data. We we were the first South Korean insurer to process, and increase high yield, *LIFEPLUS: is the official co-brand name reps, and customers. However, in anticipation push for innovation and, with each success, representing a group of Hanwha financial affiliates. It offers financial, health, and cultural We also innovate our offerings that are aligned of market changes, we’re upgrading our we’re inspired to drive forward as a world-class content as well as products and services to customer life stages. Using Big Data to analyze digital capabilities, product development, life insurance company. optimized for a variety of lifestyles to help customer needs, behavior, and interests, we digital technology, and our governance- customers make better financial decisions that systematically apply this knowledge to better oriented data support. lead to better life and experiences. satisfy customers. To this end, we’ve trained our call center customer service professionals to We’re committed to helping our subsidiaries deliver exceptional care. all over the world in their respective local

Hanwha Life, which leads the life insurance Hanwha General Insurance has industry in South Korea, launched Onsure, implemented a set of customer-centered the first online life insurance sales channel business processes and has organized its in South Korea. Onsure serves as yet another management to deliver customer-value- channel through which we will expand our life oriented solutions. Our solid financial structure insurance business. allows us to invest in research to develop the products and services with the customer’s best interests in mind.

94 95 Hanwha Hanwha Investment & Securities We have established a stable and Lab, the first Big Data analysis company in Hanwha Asset Hanwha Asset Management is one management philosophy to place our enterprise (WFOE) so we could better is a trusted financial investment partner diversified income structure with our the South Korea’s financial investment of the top three asset management customers first before anything else. execute our global strategy and expand Investment & dedicated to providing sources for stable business portfolios in investment banking, industry. The Lab conducts research on Management companies in South Korea. With our our business footprint overseas. Securities and diversified income even amidst a trading, wealth management, and various topics such as Big Data analysis and www.hanwhafund.com comprehensive operation systems, Hanwha’s expertise and industry- www.hanwhawm.com rapidly changing financial environment in institutional investors. To be able to readily then offers general consultation and innovative solutions, and customer- leading innovations have been an era of digital transformation. respond to the rapidly changing digital applications consultation. In April 2019, as EXPERTISE focused management philosophy, we’re recognized with numerous industry financial environment, we developed part of our efforts to expand our global rapidly becoming an investment awards in South Korea, including the Top EXPERTISE Established in 1962, Hanwha unique ways to ensure simpler and more operations and secure a new growth Asset management company of choice in Asia. Prize in TDF and general funds at the Securities brokerage and underwriting, Investment & Securities provides convenient investment experiences for our engine, we acquired HFT Securities, 2020 Korea Fund Awards by KG Zeroin; asset management comprehensive asset management clients. Our easy-to-use STEPS application Vietnam's online stock brokerage company. 2019 Total Sales Founded in 1988, Hanwha Asset the Grand Prize in alternative investment services, including brokerage and displays essential information that is Then, in December 2019, we officially In USD millions Management has grown into funds at the 2019 Korea Securities Awards acquisition of stocks, bonds, and derivatives, beneficial to both experienced and launched our subsidiary in Vietnam: a comprehensive asset management by Seoul Economic Daily news media; the 2019 Total Sales In USD millions as well as sales and asset management inexperienced investors. The application’s Pinetree Securities Corporation. Its launch company offering a full range of financial Best Fund Seller Award in ETF at the 2019 services for various financial products. With user-friendly e-commerce-style platform represents Hanwha Investment & instruments, including stocks, bonds, Maekyung Securities Awards by Maeil our differentiated systems and high-quality provides features to customize your Securities’ first step to enter Vietnam’s 95 MMFs, fund of funds, social overhead Business News Korea; and the Top Prize in talent, we have successfully established investment portfolio and matches each potentially high-growth market and capital, derivatives, real estate, ETFs, and international bonds at the 2019 Korea 1,328 ourselves as a reliable asset management customer’s investment tendency and areas establish a digital financial platform offering 2019 Total Assets PEFs in both domestic and overseas Fund Awards by KG Zeroin. partner. Our financial products and of interest to an easily accessible set of competitive products and services. In USD millions capital markets. At the end of 2019, 2019 Total Assets customer-oriented services are offered digital financial services. We have improved we were among South Korea’s top three Hanwha Asset Management is In USD millions domestically and overseas. even the intuitive features of our mobile Our business motto is “To grow together” asset management companies with USD accelerating its strategic overseas trading system and continue to upgrade with our clients, shareholders, and 89.10 billion in assets under management expansion to become a leading asset In the ever-changing capital market, we’re others based on customer feedback. employees with sustainable products that 201 (AUM). We have people with unparalleled management company in Asia. grounded by our company policy to listen yield stable profitability. As a trusted and expertise who operate highly organized Our Singapore subsidiary manages equity 7, 876 to our employees, our customers, and to Hanwha Investment & Securities financially stable company with expertise in systems across all areas, including and alternative investments in the continuously encourage innovations within continues to grow its digital financial a range of industries, we are confident we product development, research, pan-Asian market. We acquired a New the organization. We differentiate our platform so it can provide differentiated can build a better future for our customers. compliance, and risk management. York-based subsidiary to handle our services by putting customers first and products and services that can respond to All of our products and services cater to assets in the US and other countries. We building customer trust. digital transformations and trends. In July the needs of our customers because we have also established a Chinese 2017, we established the Data Analytics strictly adhere to our principle and subsidiary as a wholly foreign-owned

The foundation of our principles is customer Hanwha Asset Management is widely satisfaction, protecting investments, recognized for its innovative solutions and a and growth. At Hanwha Investment & disciplined approach to asset management. Securities, we’re committed to responsible With them, Hanwha Asset Management’s management and service innovations to mid- and long-term plan is to become the best ensure we can be a reliable financial partner. asset management company in Asia.

96 97 Hanwha Hanwha Savings Bank is a financially Today we are a sound savings bank, sound blue-chip savings bank. We faithfully continuing to grow with the confidence of Savings Bank fulfill our role as a microfinance institution our customers on our side. We constantly www.hanwhasbank.com by supporting small and medium-sized strive to take care of our clients and our businesses with great potential, developing communities by offering products that EXPERTISE new products, and providing convenient serve their needs. Our risk management services. system enables us to perform faithfully and Deposits, commercial and personal loans operate as a financially secure institution, Founded in 1997, Hanwha Savings providing top-quality financial products and 2019 Total Sales Bank joined the Hanwha Group in services to both individuals and businesses In USD millions 2008 and has since grown into one of the alike. most stable savings banks in the industry. Even in unfavorable business climates, we’ve been able to relentlessly pursue 45 external growth with our experienced sales teams and a highly disciplined 2019 Total Assets management. We also found success by In USD millions extending the fundamental roles of microfinance institutions and supporting small and medium-sized businesses with 825 great potential. Services & Leisure

Hanwha Hotels & Resorts Hanwha Galleria Hanwha Estate Hanwha Station Development

Hanwha Savings Bank is a stable financial institution that has earned its customers’ trust over the years with its expert sales team, financial products and management discipline.

98 99 Hanwha Hanwha Hotels & Resorts is With our expertise and technologies used TripAdvisor 2019 Travelers’ Choice Awards. Hanwha Hanwha Galleria offers high-quality Suwon Gwanggyo Convention Center in was the first in the region to feature brands becoming South Korea’s premier leisure in the construction of Sea World (now It also ranked No. 2 of the nine Best fashion, food culture, and differentiated March of 2020. The Galleria is the first new such as Louis Vuitton, Gucci, and Prada. It’s Hotels & Resorts and service provider of resorts, and Aqua Planet ), the first aquarium in Luxury Hotels in Korea by Global Traveler, Galleria customer experiences at Galleria Luxury department store that Hanwha has now known as the premier high-end www.hwrc.co.kr hotels. We deliver a differentiated South Korea, we also built the a worldwide business travel magazine. www.hanwhagalleria.co.kr Hall, South Korea’s preeminent launched in the last 10 years through shopping destination in , one of the customer experience through our breathtaking Aquarium Belt. The The International Hotel Awards selected department store, and across our local meticulous planning and execution of largest cities in Korea. EXPERTISE premium condominium chains, golf Aquarium Belt is South Korea’s largest THE PLAZA as its 2018 Best Luxury Hotel EXPERTISE department store network. strategy to make Galleria Gwanggyo the courses, aquariums, theme parks, and network of aquariums located across 4 and Best City Hotel, the first of its kind in company’s flagship store capable of At Galleria Timeworld, we offer unique Resorts, hotels, leisure boutique hotels. cities: Jeju, Yeosu, Ilsan, and Seoul. And in South Korea. Retail, fashion Since its 1976 founding in South Korea, succeeding in the rapidly growing retail amenities and attractions such as Gourmet partnership with Geoje city government, Hanwha Galleria has specialized in retail market in Gwanggyo. The Galleria Gwanggyo 494, the premium food marketplace for select 2019 Total Sales Hanwha Hotels & Resorts began we recently created a new tourist Connoisseurs can experience seven 2019 Total Sales services with a great focus on department is visually stunning. It takes the form of a block food ingredients and a maze of International In USD millions operations in 1979 as the developer of destination, the Hanwha Hotels & outstanding cuisines in the landmark In USD millions stores. We also operate other retail of granite and its sculpted facade that is gourmet restaurants. There’s also the Maison South Korea’s first resort condominium Resorts Geoje Belvedere. The marine Building, along with a panoramic view of Hanwha Galleria businesses, including online malls, global textured in mosaic stone. The store is Galleria, an exclusive VIP clubhouse which project. We own one of South Korea’s top resort with 470 rooms and a private Seoul. Food is prepared with fresh brand direct sourcing, and the retail of completed with a 540m-long prism-like glass includes a cafe and space to host regular condominium chains that include the marina opened in 2018 to rave reviews. seasonal ingredients by top award- exclusive brands. passageway that meanders through the cultural and entertainment-themed 530 Saipan World Resorts in Saipan and the winning chefs. building starting at the entrance to the roof. shopping events. In 2020, we will improve the Ocean Palace Golf Club & Resorts in Japan We also have transformed THE PLAZA 302 Currently, we have five stores across Korea in The creative architecture and design of the exterior of our building with a differentiated 2019 Total Assets that combined, boasts over 5,200 guest into a world-class 408-room luxury major cities of Seoul, Suwon (Gwanggyo), Galleria Gwanggyo introduces a new design that will make it a Daejeon city In USD millions rooms across 13 properties. In Japan and boutique hotel with six restaurants and Hanwha Galleria Timeworld Cheonan, Daejeon, and Jinju. Together, the paradigm that allows sunlight to shine on landmark. South Korea, we own and operate six bars, nine convention halls, a fitness Galleria department stores offer an every floor and destined to become an iconic premier golf courses totaling 126 holes. center and spa. Located in the heart of unparalleled suite of upscale shopping landmark in Gyeonggi-do, Korea. Inside and Our vision is to be the No. 1 premium Seoul, THE PLAZA offers impeccable 226 experiences. They carry distinctive brands out, Galleria Gwanggyo will infuse new contents producer. To this end, Hanwha 2,120 We also operate Seorak Waterpia, Pororo service and experience accented by its and follow local fashion trends, while also inspiration into the shopping experience for Galleria and Hanwha Galleria Aqua Village in Gyeongju, Jeju Therapy unique interior design. In 2016, the hotel offering a food culture that is sure to satisfy our customers. And coupled with the best Timeworld will offer unparalleled values Center, Royal Saddle Equestrian Society, became the first in South Korea to join 2019 Total Assets every discerning taste. Our Galleria Luxury high-end luxury brands, the nation's largest that no other retailer can provide. We’ve In USD millions and Jade Garden in Chuncheon—all the Autograph Collection, a luxury Hall in Seoul is South Korea’s preeminent VIP lounge, and cultural facilities, shopping already begun by enhancing our renowned attractions and the envy of portfolio owned by Marriott International. Hanwha Galleria department store, featuring the world’s has been redefined. merchandising with better lifestyle products other companies in the industry. In Our exceptional customer service and leading luxury brands. The Luxury Hall East and offering more services dedicated to VIP addition, we operate Square on the upscale accommodations have been offers high-end luxury brands with unique Hanwha Galleria Timeworld, a customers. Our department store division is Han River, which offers high-quality recognized by the hotel industry. THE values while the other side of the building, subsidiary of Hanwha Galleria, primarily stocking the best high-end brands, services and attractions, including Art PLAZA was selected as one of the Top 25 1,726 the Luxury Hall West, showcases global oversees the Galleria Timeworld department Galleria-Only brands and making them and an elaborate aquarium. Hotels for Luxury and Best Service by the Hanwha Galleria Timeworld fashion trends, fine dining, and premium store. It is located in the metropolitan area of available in exclusive stores and services. Daejeon city, where public institutions, environments our customers have come to financial companies, and large apartment expect. And going forward, we’ll look more The Galleria Gwanggyo is the largest of the complexes are concentrated. Hanwha to sustainable business models for the rapidly 301 five department stores operated by Galleria Timeworld specializes in luxury changing landscape. Hanwha Galleria. It opened next to the fashion brands from around the world and

Seorak Sorano combines the beautiful natural Galleria Luxury Hall’s luxury brands, global scenery of the East Sea with the high peaks of fashion trends, fine dining, and premium Mount Seorak, where guests can appreciate services are all part of our vision to create a soothing and relaxing experience. Guests the next-generation of luxury malls that can also enjoy leisure facilities such as Seorak cater to the upscale and refined shopping Waterpia, Seorak Cinerama, Film Lot, experience. and Plaza CC Seorak.

100 101 Hanwha Hanwha Estate has extensive We also have continually expanded We have also taken advantage of our Hanwha Hanwha Station Development is a experience in managing more than business and enhanced our nationwide network and solid business premier developer and manager of Estate 100 diverse facilities and properties competitiveness. Building on our deep portfolio to steadily increase our stake in Station commercial complexes whose core www.hanwhaestate.com around the nation. We offer operational expertise, we have provided real estate management. Building on that Development competencies are in its experience in differentiated solutions by maximizing real estate management services for more portfolio, we expect to become an www.hwsd.co.kr developing and operating advanced EXPERTISE customer asset value and providing than 100 Hanwha affiliate buildings and innovator in real estate services as we railway stations. advanced energy-efficient and client assets, including office buildings, reinvent and enhance the value of Comprehensive eco-friendly models. data centers, resorts, complex facilities, and commercial space by creating synergies EXPERTISE Hanwha Station Development is real estate services research centers. Our years-long from our diverse businesses. Commercial development, our nation’s premier developer and Hanwha Estate is a comprehensive management experience has sharpened property management manager of railway stations. Since our 2019 Total Sales real estate services firm offering real estate our skills in property management and founding in 1987, we have pioneered the consulting, asset and facility operation deepened our expertise in electrical retail and leisure culture by combining In USD millions 2019 Total Sales management, construction, security facilities, machinery, equipment, disaster In USD millions commercial complexes with private solutions, and energy-efficient projects prevention, firefighting, communications stations. We developed building designed to increase the value of client facilities, building maintenance, and complexes in the centrally located Seoul 130 assets. security. Our comprehensive technical Station and the Cheongnyangni Station services include completed construction 176 —logistics hubs in the northeastern part 2019 Total Assets Our real estate consultations are designed site inspections, safety audits, functional of Seoul. By leveraging our expertise In USD millions to yield maximum profits through the checks of firefighting facilities, and physical 2019 Total Assets and capabilities in business assessment, employment of optimized solutions. Our inspections. In USD millions concept development, project financing, consultations begin with a thorough lease marketing, construction market analysis and innovative In the construction and security management, and facility operation, we 55 perspectives appropriate to customer and businesses, Hanwha Estate are fast becoming an industry-leading property characteristics. In asset and facility guarantees excellent construction quality 430 developer and manager of commercial management services, we assign highly and safety by rigorously following basic complexes. skilled and experienced professionals to principles across process, safety, the project to provide ongoing construction, and quality control. We also administrative and technical support. check energy flow throughout each Harnessing our full spectrum of facility building and provide eco-friendly models management experience, we provide for energy efficiency. Our converged high-quality services that fulfill services add up to one-stop solutions for customer needs. all customer needs.

Hanwha Estate is an ever-evolving Located in the northeastern part of Seoul, real estate services provider. We create Cheongnyangni Station is a nine-story complex new cultures and environments by nimble with more than 177,793 square meters of adjustments in how we work. We also pursue space, including three underground levels. innovation through communications and With a department store, an outlet mall, collaboration. Our goal always is to increase a theater, and restaurants, it is driving the value of customer real estate assets. economic growth for the community around it.

102 103 Corporate Social Responsibility As a world-class solar energy business, our mission is to achieve sustainable growth; our At Hanwha, we’re committed not only to our customers and employees but also to SOCIAL guide is our social responsibility. This is why we’re educating children through eco-friendly SOCIAL the people who live in the communities where we do business. Giving back is part of our RESPONSIBILITY programs, and people to join the energy revolution through activities that counteract RESPONSIBILITY culture and we do this through professional organizations and financial support. We engage climate change and help the environment. From installing entire solar power generation in activities that help keep dreams alive and enthusiasms going. And by combining our - Eco-Friendly Solar Energy systems to make communities energy self-sufficient, buildingHanwha Solar Forest to fight - Culture, Arts, and Sports professional talents with our desire to do good, we’re turning ideas into practical solutions to deforestations in China to cleaning up the Mekong river in Vietnam, we’re not only using solar improve lives and the world In which we live. energy, we’re making a difference.

Hanwha Corporation team’s fireworks showcase at the 2019 Seoul International Fireworks Festival.

Hanwha solar modules donated to Seoul International Fireworks Festival the World Economic Forum Congress Center in Davos Since 2000, Hanwha has annually held the Seoul International Fireworks Festival to put on Having installed a total of 640 solar modules on a 1,000-square-meter roof on the World spectacular fireworks shows with themes around optimism and dreams.

Economic Forum Congress Center, we will be able to reduce 20 tons of CO2 emissions per year.

• Happy Sunshine Campaign Happy Sunshine Campaign one in used the seedlings grown Clean Up Mekong Campaign • Orchestra Festival with Hanwha Arts and Culture Seoul International Fireworks Festival Operating and Assisting Sports Teams • Hanwha Hope Project: Happy Hanwha is driving the use of sustainable by solar energy facilities and donated by In June 2019, to commemorate World • Hanwha Pop and Classic Hanwha supports a range of arts and Hanwha hosts the Seoul International in South Korea Sunshine energy in communities with expertise Hanwha. Hanwha Solar Forest is the Environment Day, Hanwha launched • Hanwha Classic cultural events. Since 2000, we have Fireworks Festival with the world’s leading Through sports, Hanwha has created • Hanwha Solar Forest gained from vertical integration of our first demonstration of how solar energy the Clean Up Mekong campaign to help • Seoul International Fireworks Festival sponsored the Orchestra Festival, the fireworks technology companies, lighting positive energy and communicated • Solar modules donated to the World with Hanwha solar businesses. Our best-known program can be used to prevent desertification. address one of the world's ongoing largest event of its kind in South Korea. up the sky over the Yeouido Hangang inspirational messages to sport fans and Economic Forum in Davos • Hanwha • Clean Up Mekong Campaign is Happy Sunshine, a project where we The UNCCD has praised it as a best environmental issues: water waste. • Team Hanwha Q CELLS Our annual Pop and Classic has River Park every autumn. Since its debut in followers. In 1986, we founded the donated a total of 2,014kW solar power practice, urging others to follow. We donated solar-powered boats that been held in cities across the country since 2000, the festival has wowed over a million Hanwha Eagles to help revitalize generation systems to 291 welfare centers could remove wastes from the Mekong 2004, and the Hanwha Classic has spectators, providing unforgettable professional baseball as a national favorite in South Korea to help them save on utility Solar Panels Donated to Davos River before the river water empties into performed classical music since 2013. In memories for families and friends. With the pastime. We also established Team bills. We also operate Hanwha Hope The World Economic Forum, held annually the Pacific Ocean. We also developed a recognition of popularizing classical music slogan of Sharing Hope through Fireworks, Hanwha Q CELLS in 2011 to promote Project where we donated solar power in Davos, Switzerland, draws attention digital media campaign to publicly raise and promoting the Korean culture and this has become a flagship cultural festival. golf in South Korea and hosted the annual generation systems to elementary schools to pressing issues facing the world, environmental awareness and educate arts, Hanwha was awarded the Grand At the 2019 festival, we hosted a variety of Hanwha Classic, the nation’s top golf in underserved areas in China. such as environmental sustainability. In the Vietnamese people on the use of eco- Prize of the Presidential Award at the events and seminars including the tournament. support, since 2013, we have donated friendly energy and their responsibility to Mecenat Conference & Awards hosted by Fireworks Atelier, an art exhibition held Hanwha Solar Forest photovoltaic modules to the City of Davos. prevent climate change. the Korea Mecenat Association in 2006 from the 1st through the 5th of October. A Since 2011, the Hanwha Solar Forest The solar modules donated by Hanwha and 2011. In 2014, we received the unique attraction at the exhibit features a campaign has planted 500,000 trees Solutions have a capacity of 340KW. This Achievement Award at the SAC Awards by series of interactive kinetic light sculptures across seven locations in Korea, Mongolia, amount of energy is enough to reduce 20 Seoul Arts Center. that creatively recreates the fireworks. and China. Our three forests in China and tons of CO2 emissions per year.

106 107 SOCIAL Since the Hanwha Social Responsibility Center was founded in 2002 to commemorate ENVIRONMENTAL Hanwha supports a sustainable future by proactively responding to a changing global the company’s 50th anniversary, Hanwha has called upon each affiliate companies to energy paradigm and by building a corporate culture that embraces environmental RESPONSIBILITY participate by sending volunteer teams for various social activities to give back to the AND SAFETY protection and safety. We are expanding new and renewable energy businesses communities. At the same time, Hanwha makes great efforts to identify and nurture centered on solar energy. In response to climate change, we strive to reduce - Talent Development and the talents who can someday become future leaders of our society. RESPONSIBILITY environmental impact with low-carbon energy sources in all areas of our businesses. Employee Volunteers

Hanwha-KAIST Science Outreach Program, Convergence Science Camp Hanwha Solutions acquired the Environmental Management Systems Certification (ISO14001) Hanwha partnered with KAIST to jointly host a science camp to nurture future scientists. Every Hanwha Solutions business site worldwide acquired the Environmental Management Systems Certification (ISO14001), which verifies minimal environmental impact in the entire production, products, and services process.

• Bugil Foundation Supporting Young Leaders of the Future Hanwha Arts Plus program. Launched in volunteer work at any time. Our employees • Reduced 30,000 TOE (Ton of Oil Equivalent) Protecting the Environment and Responding to Climate Change Establishing a Culture of Safety • Hanwha Science Challenge Hanwha believes that fostering talents, 2014, our DreamPlus program began are involved in the Social Contribution in energy Addressing Climate Change Since 2013, Hanwha has provided free Hanwha works to gain community trust • Hanwha-KAIST Science will ultimately contribute to society. Since offering diverse opportunities for young Steering Committee to increase the • Reduced USD 15 million worth of energy All Hanwha affiliates have adopted and classes on solar panels to increase by promoting safety and creating safe Outreach Program costs Hanwha’s foundation, we have expanded entrepreneurs seeking to start a business or transparency and effectiveness of our systematically practice environmental safety awareness of climate change. And by workplaces. It’s part of our corporate culture. • Hanwha Arts Plus • Reduced more than 180,000 tons of GHG our programs to give back to our find a job in promising new areas. Through activities. Every October to celebrate and health policy by organizing a collaborating with government and Along with regular safety leadership training • DreamPlus • Reduced 3.6 million tons of water, waste • Relay Volunteer Service to communities and one way was to invest in the DreamPlus center, we provide Hanwha’s founding, all affiliates water and other wastes company-wide Environmental Safety and environmental NGOs since 2016 to create for executives and team leaders, we Commemorate Company education. This was why we established the co-working spaces and guidance and participate in volunteer services for the Health Committee that puts the CEOs, jobs, we’ve established a solar startup developed a diagnostic tool to monitor Founding Bugil Foundation in 1976, which is now a support programs for prospective startups disadvantaged. Our work for people in need senior executives, and general managers in academy where anyone wanting to start a each employee’s safety awareness. This • Hanwha Braille Calendar prestigious private school. And in 2011, we and college student interns. DreamPlus also keeps us committed to our philosophy to charge. Each business site implements solar energy business can be trained to do system identifies and improves an began sponsoring the Hanwha Science operates an online platform (www. do good for all and for always. sustainable management practices for so. Our entry into the hydrogen ecosystem employee’s development areas and then Challenge, a high school science dreamplus.io), which provides content for environmental safety and health, including market in 2020 started with the commercial encourages changes in behavior that align competition aimed at discovering future business leaders. Hanwha Braille Calendar accident prevention overseen by an operation of Daesan Green Energy, the with to better and safer work culture. outstanding students in science. In 2016, we Since 2000, Hanwha has annually individual committee. In addition, to ensure world’s largest hydrogen fuel cell power In 2020, we expanded our diagnosis to began hosting the Hanwha-KAIST Caring Employee Volunteers produced and donated 50,000 braille we share, improve, and develop best plant. And with greater investments in partner company employees to establish a Science Outreach Program, a science Hanwha actively engages in social calendars for the visually challenged. These practices among business sites, we hold eco-friendly plastic research, we’re safety culture across our supply chain. education program for middle school contributions with the help of its braille calendar donations represent our regular meetings and workshops. expecting to accelerate our transition into a Additionally, we are reviewing historical data students in the Daejeon area. Our employees. We offer a Volunteer Time off ongoing commitment to help everyone circular economy. to identify when to apply stricter safety employees also provide various cultural and program—an employer-sponsored paid read and use the calendars for all seasons, regulations to prevent accidents and build arts education to children through our time for our employees to perform holidays, and cycles, solar or lunar. an advanced safety culture.

108 109 Hanwha believes our partners are also part of our family. For small and medium- Hanwha pursues a future-oriented organizational culture that continuously innovates WINNING sized business partners, we help create self-reliant environments and encourage good HUMAN while overcoming challenges. To this end, we recruit talented people from all over the world PARTNERSHIPS management over them. We support our partners to build a foundation for the growth RESOURCES and sponsor programs that help employees grow into global talents. Young Hanwha is a and independence. program that fosters this effort, helping us to move forward and build on the passion that is part of our legacy and foundation.

Building an eco-friendly energy self-sufficient project on Growing Hanwha with global talent South Korea’s Jukdo Island Together, Hanwha’s worldwide talent is building Young Hanwha. In collaboration with Chungcheongnam-do, Hanwha transformed Jukdo Island to become energy self-sufficient.

• Agreements on fair trade and Commitment to Mutual Growth Building Winning Partnerships Invigorating the Regional Economy • Global talent program Sharing Values program, we send associate and junior Promoting Work-Life Balance mutual growth Since 2009, Hanwha has fostered Leveraging our spirit of “trust and loyalty,” Hanwha helps suppliers in rural areas to • Overseas training programs Hanwha strives to hire creative managers all over the world so they can Hanwha’s company-wide work-life • Co-prosperity fund collaborative partnerships with over 1,500 Hanwha stays connected with our sell their products at our retail department • Programs for core talent individuals who are driven to innovate. experience the business and culture of balance policies are designed to improve • Private equity fund for mutual small and medium-sized enterprises. suppliers. We work frequently with partner stores. For example, when we find hidden • Work-life balance policies including We seek people who pursue excellence those countries and become local an employee’s quality of life. Our efforts growth paternity leave We’ve helped them grow their businesses companies and have put into practice our high-value-added agro-fishery products and will be loyal to our customers, experts. We also operate a special have received broad recognition. We’re • Ongoing meetings with partner • One-month sabbaticals companies by strengthening their core competencies, belief in “Going Further Together” by that can help the local economy, we stock • Study leave colleagues, and company values. We program to identify and develop listed as one of Korea’s 100 best places to • Energy self-sufficiency project on supporting their financial needs, and engaging in joint businesses, exchanging them at our local retail stores. Also, using • Flexible work shifts and an end to seek people who work hard to achieve executive talent to lead Hanwha’s work as a family-friendly and gender- South Korea’s Jukdo Island guiding them to engage in fair trade technology, sharing information, and our micro-grid business, solar energy- overtime their goals and understand the future and growth. In our commitment equality company. When we practices. In 2011, we promoted mutual providing exemptions from performance linked ESS (Energy Storage System) • Job placement assistance importance of supporting a greater to develop Hanwha’s future global commemorated our 64th anniversary in growth by working collaboratively with guarantees. We are expanding industry- technology, we transformed Jukdo Island cause. We develop global talent with leaders, we sponsor select employees 2016, we announced the Young our partners instead of competing against specific programs to help our partners in Chungcheongnam-do into an energy professionalism and by providing a range pursuing their masters or doctoral Hanwha program and introduced them. Since then, we have created an become more competitive as they self-sufficient island, reducing energy of training programs for specific jobs and degrees from the top universities at corporate culture initiatives like getting annual co-prosperity fund of USD 172 expand their domestic and international costs and helping tourism. Hanwha is positions. home and abroad. Our company also a one-month sabbatical when promoted, million and earmarked a private equity sales networks. We are also supporting committed to social impact investments provides job shadowing and mentoring flexible work shifts, study leave, and fund of USD 172 million for this mutually their innovations, equipment purchasing, to benefit Southeast Asian communities Cultivating Global Leaders opportunities for our employees so they support for career development. These benefitting partnership. and assisting them in executing best and bring financial security to the regions. Hanwha continues to invest in talent. can experience management and initiatives are all contributing to the practices for safety, process, environment Our global talent program nurtures leadership. foundation that will ultimately help and quality control. employees with potential and interests in Hanwha become a global top-tier global business. In our regional specialist company.

110 111 Global AMERICAS EMEA ASIA PACIFIC Network Canada Hanwha Q CELLS (sales & marketing) Czech Republic Hanwha Advanced Materials Australia Hanwha Mining Services Australia China Hanwha Q CELLS (sales & marketing) Canada Hanwha Canada Development (lightweight composite materials and products) (chemical products manufacturing and sales & blasting service) China Hanwha TechM (machine tools and powertrain assembly) (solar business management) France Hanwha Q CELLS (sales & marketing) Australia Hanwha Q CELLS (sales & marketing, EPC) China Hanwha Techwin (producing video surveillance system and sales) Chile Hanwha Q CELLS (downstream solar) Germany Hanwha Europe (trading) China Hanwha China (supporting Hanwha affiliates in China) China Hanwha Asset Management (asset management) Chile Hanwha Mining Services Chile Germany Hanwha TechM (machine tools sales) China Hanwha Advanced Materials India Hanwha International (trading) (chemical products sales & blasting service) (lightweight composite materials and products) Germany Hanwha Petrochemical Europe (sales) India Hanwha Chemical (sales) Mexico Hanwha Advanced Materials Germany Hanwha Advanced Materials China Hanwha Q CELLS (sales & marketing) India Hanwha Q CELLS (sales & marketing) (lightweight composite products) (lightweight composite products) China Hanwha Advanced Materials (lightweight composite products) Indonesia Hanwha Mining Services Indonesia USA Hanwha Aerospace USA Germany Hanwha Q CELLS GmbH (R&D) China Hanwha Engineering Plastic (chemical products manufacturing and sales & blasting service) (producing aircraft engine components) (producing polypropylene) Germany Hanwha Q CELLS Berlin (sales & marketing, EPC) Indonesia Hanwha Life (life insurance) USA Hanwha Mining Services USA Italy Hanwha Power Systems (energy equipment sales & marketing) China Sino-Korea Life (life insurance) (chemical products and blasting agents sales) Japan Hanwha Q CELLS (sales & marketing) Italy Hanwha Q CELLS (sales & marketing) China Hanwha Corporation (trading) USA Hanwha International (trading) Japan Acropark Golf (golf club and resort operation) Russia Hanwha Power Systems (energy equipment sales) China Hanwha Q CELLS Technology (producing PV ingots) USA Eagle Petroleum (oilfield development) Malaysia Hanwha Chemical (sales & marketing) Saudi Arabia Hanwha Saudi Contracting (operation support) China Hanwha Chemical (producing PV ingots) USA Hanwha TechM (powertrain assembly) Malaysia Hanwha Q CELLS (producing solar cells, modules, and R&D) Turkey Hanwha Q CELLS (sales & marketing, EPC) China Hanwha Q CELLS (producing solar cells, modules, and R&D) USA Universal Bearings (producing bearings) Singapore Hanwha Asset Management (asset management) UAE Hanwha Techwin (video surveillance system sales & marketing) China Hanwha International (trading) USA Hanwha Machinery America (machine tool sales) Vietnam Hanwha Aero Engines (producing aircraft engine components) UAE Hanwha Power Systems (energy equipment sales & services) China Hanwha Techwin (chip mounter sales) USA Hanwha Techwin Automation Americas (chip mounter sales) Vietnam Hanwha Techwin (producing video surveillance system) UK Hanwha Techwin (video surveillance system sales & marketing) China Hanwha Power Systems (energy equipment sales & marketing) USA Hanwha Techwin (video surveillance system sales & marketing) Vietnam Hanwha Techwin Automation Vietnam UK Hanwha Q CELLS (sales & marketing) China Hanwha Chemical (trading) (chip mounter sales) USA Hanwha Power Systems (energy equipment sales and R&D) China Hanwha Petrochemical Trading Vietnam Hanwha Power Systems (energy equipment sales & services) USA Hanwha Azdel (lightweight composite materials) (polyethylene and polypropylene sales) Vietnam Hanwha Life (life insurance) USA Hanwha Advanced Materials China Hanwha Advanced Materials (lightweight composite materials and products) (lightweight composite materials and products) USA Hanwha America Development (real estate development) USA Hanwha Q CELLS USA (EPC) USA Hanwha Q CELLS America (sales & marketing) USA 174 Power Global Corporation (sales & marketing) USA Hanwha Life Investment (investment) USA Hanwha Asset Management (USA) (asset management)

We have maintained trusted partnerships • Bakersfield • Vancouver • Aix-en-Provence • Moscow • Cyberjaya •Chongqing • Seoul that have lasted more than 60 years. • Bremen • Monterrey • Athens • Stuttgart • Hanoi •Guangzhou Chongqing • Nagasaki Together, we have collaborated, • Cerritos • Santiago • Warsaw • Ho Chi Minh •Dongguan Dongguan • invested, and built across markets in • Chicago • São Paulo • Berlin • Jakarta • Guangzhou almost every continent. Together, we have grown. Hanwha has 85 affiliates • Forest • Bitterfeld-Wolfen • Abu Dhabi • Kuala Lumpur •Beijing Hangzhou • Perth in South Korea alone and 380 networks • Franklin • Bolzano • Al Khobar • Manila •Tianjin • Sydney around the world (As of the end of • Hawaii • • Baghdad • Muara Teweh •Lianyungang Lianyungang December 2019). And as we continue • Houston • Chertsey • Bismayah City • Mumbai •Hangzhou Ningbo improving quality and innovating • Irvine • Dietfurt • Doha • New Delhi •Suzhou Quidong to exceed customer expectations, Hanwha will continue to grow beyond • Monroe • Eschborn • Dubai • Samut Prakan •Ningbo Shanghai today’s interconnected global business • New York • Frýdek-Místek • Kuwait City • Singapore • Shenzhen environment. This is Hanwha Group. • Opelika • Istanbul • Modi’in- • Tehran •Shanghai Tianjin • Pontiac • London Maccabim-Re’ut • Bangkok •Qidong Zhangjiagang • Saipan • Shelby • Johannesburg • Teaneck • London 112 113 KOREA Hanwha Solutions Corp. FINANCE SERVICES & LEISURE ASIA PACIFIC Hanwha Corporation Hanwha Chemical Hanwha www.hanwhasolutions.com Beijing Representative Office Corporation Advanced Materials MANUFACTURING & 86, Cheonggyecheon-ro Hanwha Life Co., Ltd. Hanwha Hotels & Hanwha Mining Services 27F, Taikang Financial Tower Beijing Representative Office (Beijing) Co., Ltd. CONSTRUCTION Jung-gu, Seoul, Korea www.hanwhalife.com Resorts Co., Ltd. Australia Pty. Ltd. No. 38 Yard East 3rd Ring North 27F, Taikang Financial Tower Zhongguancun Science Park Chemical Division 50, 63-ro, Yeongdeungpo-gu www.hwrc.co.kr Level 9, 132 Arthur Street Road, Chaoyang District No.38 Yard East 3rd Ring North (East Sector), Changping Zone Hanwha Corp. Tel 82.2.729.2700 Seoul, Korea 50, 63-ro, Yeongdeungpo-gu North Sydney, NSW 2060 Beijing 100026, China Road, Chaoyang District 4 Lixiang Road www.hanwhacorp.co.kr Fax 82.2.729.2999 Tel 82.1588.6363 Seoul, Korea Tel 61.416.770.529 Tel 86.10.6583.7971 Beijing, China Beijing 102200, China 86, Cheonggyecheon-ro Q CELLS Division Fax 82.2.789.8689 Tel 82.1588.2299 Fax 86.10.6583.7999 Tel 86.10.6583.7973 Tel 86.185.0010.7668 Jung-gu, Seoul, Korea Tel 82.1600.3400 Fax 82.2.789.5484 Hanwha Energy Fax 86.10.6583.7999 Fax 86.10.6073.5459 Tel 82.2.729.1881 Fax 82.2.729.3313 Hanwha General Insurance Australia Pty. Ltd. Hanwha Corporation Fax 82.2.752.3475 Advanced Materials Division Co., Ltd. Hanwha Galleria Co., Ltd. Suite 25.01, Northpoint Tower Guangzhou Representative Hanwha Chemical Hanwha Tel 82.2.729.2100 www.hwgeneralins.com www.hanwhagalleria.co.kr 100 Miller Street, North Sydney Office Corporation Advanced Materials Hanwha Aerospace Co., Ltd. Fax 82.2.729.2146 56, Yeoui-daero, Yeongdeungpo-gu 50, 63-ro, Yeongdeungpo-gu NSW 2060, Australia Fortune Plaza, West Tower Shanghai Representative Office (Shanghai) Co., Ltd. www.hanwhaaerospace.co.kr Seoul, Korea Seoul, Korea RM 1903 #114-118 RM 2004, New Caohejing Jiading Industrial Zone 1204, Changwon-daero Hanwha General Chemical Tel 82.1566.8000 Tel 82.2.410.7114 Hanwha Energy Retail Tiyudong Road, Guangzhou, China International Business Center A 1201 Xingrong Road Seongsan-gu, Changwon Co., Ltd. Fax 82.2.316.8443 Fax 82.2.414.0025 Australia Pty. Ltd. Tel 86.20.3893.1571 No. 391, Guiping Road, Xuhui Shanghai 201807, China Gyeongsangnam-do, Korea hgc.hanwha.com Suite 25.01, Northpoint Tower Fax 86.20.3893.2760 District, Shanghai, 200233, China Tel 86.21.3996.3996 Tel 82.55.260.2114 71, Sapyeong-ro, Nam-gu Hanwha Investment & Hanwha Estate Co., Ltd. 100 Miller Street, North Sydney Tel 86.21.6278.5556 Fax 86.21.3996.3911, 3922 Fax 82.55.260.2230 Ulsan, Korea Securities Co., Ltd. www.hanwhaestate.com NSW 2060, Australia Hanwha TechM (Suzhou) Fax 86.21.6278.8728 Tel 82.52.278.6000 www.hanwhawm.com 50, 63-ro, Yeongdeungpo-gu Co., Ltd. Hanwha Hanwha Defense Co., Ltd. Fax 82.52.278.6340 56, Yeoui-daero, Yeongdeungpo-gu Seoul, Korea Hanwha Q CELLS North Side of Sigang Segment Hanwha Chemical Advanced Materials www.hanwha-defense.co.kr Seoul, Korea Tel 82.2.789.6363 Australia Pty. Ltd. Zhangyang Road, Zhangjiagang Corporation (Chongqing) Co., Ltd. 86, Cheonggyecheon-ro Hanwha Petrochemical Tel 82.2.3772.7000 Fax 82.2.789.5678 Suite 1, Level 1 Economic And Technology Guangzhou Representative No.2 Fengshi Road, Shichuan Jung-gu, Seoul, Korea Co., Ltd. Fax 82.2.3772.7099 15 Blue Street, North Sydney Development Zone, Zhangjiagang Office Town, Yubei District, Chongqing Tel 82.2.729.5500 www.hanwha-total.com Hanwha Station NSW 2060, Australia City, Jiangsu Province RM 1905, West Tower 401139, China Fax 82.2.729.5820 103, Dokgot 2-ro Hanwha Asset Management Development Co., Ltd. Tel 61.2.9016.3033 Tel 86.512.8017.9915 Fortune Plaza No. 116-118 Tel 86.188.7509.1250 Daesan-eup, Seosan Co., Ltd. www.hwsd.co.kr Fax 61.2.9016.3032 Fax 86.512.8017.9914 Tiyudong Road, Guangzhou, China Hanwha Systems Co., Ltd. Chungcheongnam-do, Korea www.hanwhafund.com 405, Hangang-daero Tel 86.20.3893.1553 Hanwha Q CELLS www.hanwhasystems.com Tel 82.41.660.6114 50, 63-ro, Yeongdeungpo-gu Jung-gu, Seoul, Korea Hanwha Q CELLS Hanwha Techwin (Tianjin) Fax 86.20.3893.1546 (Shanghai) Co., Ltd. 86, Cheonggyecheon-ro Fax 82.41.681.4812 Seoul, Korea Tel 82.2.390.4000 Solar Technology Australia Co., Ltd. 20F, Building A, The New Caohejing Jung-gu, Seoul, Korea Tel 82.2.6950.0000 Fax 82.2.390.4004 Pty. Ltd. No. 11 Weiliu Road, Micro- Dongguan Hanwha International Business Center Tel 82.2.729.3030 Fax 82.2.6950.0009 Suite 1, Level 1 electronic Industrial Park, Jingang Engineering Plastic No.391. Guiping Rd. Fax 82.2.729.4800 www.yncc.co.kr Hanwha Eagles 15 Blue Street, North Sydney Road, Tianjin 300385, China HuPan Park, Matigang Village Xuhui, Shanghai, China 8F, Korea Chamber of Commerce & Hanwha Savings Bank Professional Baseball Club NSW 2060, Australia Tel 86.22.2388.7788 (8700) DaLingShan Town, Dongguan City Tel 86.21.6858.7519 Hanwha Techwin Co., Ltd. Industry Building www.hanwhasbank.com www.hanwhaeagles.co.kr Tel 61.2.8363.9888 Fax 86.22.2388.7788 (8505) Guangdong 523000, China Fax 86.21.6858.7520 www.hanwhatechwin.co.kr 39, Sejong-daero, Jung-gu 139, Bucheon-ro Hanbat Sports Complex Fax 61.2.8363.9889 Tel 86.769.8278.1999 6, Pangyo-ro 319beon-gil Seoul, Korea Bucheon, Gyeonggi-do, Korea 373, Daejong-ro, Jung-gu, Hanwha Techwin (Shanghai) Fax 86.769.8278.1998 Hanwha Q CELLS Bundang-gu, Seongnam Tel 82.2.6050.2400 Tel 82.32.657.5000 Daejeon, Korea Hanwha China Co.,Ltd. (Qidong) Co., Ltd. Gyeonggi-do, Korea Fax 82.2.6050.0888 Fax 82.32.666.9970 Tel 82.42.630.8200 27F Taikang Finacial Tower 20/F, New Caohejing International Hanwha Petrochemical 888 Linyang Road, Qidong Tel 82.70.7147.7000 Fax 82.42.632.2929 No.38 Yard East 3rd Ring North Business Center A, NO.391 Guiping Trading (Beijing) Jiangsu 226200, China Fax 82.31.8018.3740 Hanwha Energy Corp. Road Chaoyang District Road, Shanghai, China Room 2109-2110, Taikang Financial Tel 86.513.8360.6222 hec.hanwha.co.kr Bugil Foundation Beijing, 100026, China Tel 86.21.5427.1155 Tower, 38# Yard East 3rd Ring Fax 86.513.8360.6376 Hanwha Precision 4th Floor, KT&G Sejong Tower www.bugil.hs.kr Tel 86.10.6583.7777 Fax 86.21.5423.5122 North Road, Chaoyang District Machinery Co., Ltd. Building, 411, Hannuri-daero San 11-1, Sinbu-dong Fax 86.10.6517.7919 Beijing 100026, China Sino-Korea Life www.hanwhaprecisionmachinery.co.kr Sejong, Korea Cheonan, Chungcheongnam-do Hanwha Power Systems Tel 86.10.8587.9896 Insurance Co., Ltd. 6, Pangyo-ro 319beon-gil Tel 82.44.850.3500 Korea Hanwha (H.K.) Co., Ltd. (Shanghai) Co., Ltd. Fax 86.10.8587.9600 23/24F, Tower A UDC Building Bundang-gu, Seongnam Fax 82.44.850.3599 Tel 82.41.520.8866 Unit 2201, 22/F, Golden Centre 200233 20/F, New Caohejing 8 Xin Ye Rd, QianJiangCBD Gyeonggi-do, Korea Fax 82.41.520.8889 188 Des Voeux Road Central International Business Center A Hanwha Petrochemical Hangzhou, China 310016 Tel 82.70.7147.8701 Hanwha Engineering & Hong Kong No391, Guiping Road, Shanghai Trading (Shanghai) Tel 86.571.8736.1777 Fax 82.31.8018.3709 Construction Corp. Tel 852. 2169.0617 China Room 1701, Tower A, Dawning Fax 86.571.8583.9999 www.hwenc.co.kr Fax 852.2529.4678 Tel 86.21.5427.1155 Centre, No.500 HongBaoShi Road Hanwha Power Systems 86, Cheonggyecheon-ro Jung-gu, Fax 86.21.5423.5122 Changning District, Shanghai Hanwha Life Co., Ltd. Seoul, Korea Hanwha International 201103, China (A Liaison Office in www.hanwhapowersystems.co.kr Tel 82.2.2055.6000 (Shanghai) Co., Ltd. Hanwha Chemical Tel 86.21.3209.8060 Hong Kong) 1204, Changwon-daero Fax 82.2.2055.5770 21F, New Caohejing International (Shanghai) Co., Ltd. Fax 86.21.3252.2286 Unit 2201, 22/F, Golden Centre Seongsan-gu, Changwon Business Center A, No. 391 Guiping RM 2001, New Caohejing 188 Des Voeux Road Gyeongsangnam-do, Korea Hanwha City Development Road, Shanghai, 200233, China International Business Center A Hanwha Petrochemical Central, Hong Kong Tel 82.70.7147.8000 Co., Ltd. Tel 86.21.5401.6089 No. 391, Guiping Road, Xuhui Trading (Shenzhen) Fax 82.31.8018.3881 www.hcd21.co.kr Fax 86.21.3209.2312 District, Shanghai 200233, China Room 2705, Zhaobangji 86, Cheonggyecheon-ro Jung-gu, Tel 86.21.6278.5556 Fiance Building Co., Ltd. Seoul, Korea Hanwha (H.K.) Co., Ltd. Fax 86.21.6278.8728 No.319 Fuhua Road Beijing Representative Office Tel 82.2.2055.4300 Shanghai Representative Office Futian District, Shenzhen 27F, Taikang Financial Tower Fax 82.2.2055.4309 21F, New Caohejing International Hanwha Chemical Guangdong 318033, China No.38 Yard East 3rd Ring North Business Center A, No. 391 Guiping (Ningbo) Co., Ltd. Tel 86.755.2399.6516 Road, Chaoyang District Road, Shanghai, 200233, China No. 55, Huandao North Road Fax 86.755.2399.6510 Beijing 100026, China Tel 86.21.5401.6089 Daxie Development Zone Tel 86.10.6583.7900 Ningbo, Zhejiang 315812, China Hanwha Petrochemical Fax 86.10.6583.7925 Tel 86.574.8677.1013 Trading (Hong kong) Fax 86.574.8675.1067 Room 2201, 22/F, Golden Centre 188 Des Voeux Road, Central Hong Kong Tel 852.2572.6867

114 115 Hanwha Asset Management PT. Hanwha Mining Services Hanwha Power Systems Hanwha Energy Corporation EMEA Hanwha Petrochemical Hanwha Energy Retail Ltd. Indonesia Vietnam Co., Ltd. Vietnam Co., Ltd. Europe Branch Spain, S.L.U. 4308, Tianjin World Financial Talavera Office Park (Suites Area) 6F, Star Tower, Cau Giay 16F Thaiholdings Tower, 17 Tong Hanwha Europe GmbH Kölner Straße 10b, 65760 Plaza Pablo Ruiz Picasso 1.28020 Center, No. 2, North Dagu Road Lantai 21, JL TB Simatupang Kav New Urban Area, Duong Dinh Dan Str, Trang Tien Ward, Hoan www.hanwha.de Eschborn, Germany Madrid, Spain Heping District 22-26, Cilandak Barat-Jakarta Nghe Street, Yen Hoa Ward Cau Kiem Dist, Hanoi, Vietnam Kolner Strabe 10 Tel 49.6196.779.5217 Tel 34.900.202.900 Tianjin (300022), China Selatan 12430n Giay District, Hanoi, Vietnam Tel 84.24.3204.0517 65760 Eschborn, Germany Fax 49.6196.9020.644 Tel 86.22.2329.6100 Tel 62.21.2782.8378 Tel 84.24.3201.2450 Fax 82.24.3204.0525 Tel 49.6196.5016.41 Hanwha Energy Corporation Fax 62.21.2782.8643 Fax 49.6196.5016.90 Hanwha Europe, S.L.U. Hanwha Chemical Hanwha Chemical Hanwha Energy Corporation Advanced Materials Plaza Pablo Ruiz Picasso 1.28020 Corporation Hanwha Corporation Malaysia Sdn. Bhd. Ho Chi Minh Hanwha Corporation Europe, s.r.o. Madrid, Spain Tokyo Office Jakarta Representative Office 22.04 Level 22 Menara Representative Office Turkey Branch Příborská 280, Chlebovice 9F, Hanwha Building, 10-1 Sequis Center 9th Fl. JL. Jend. 165 Jalan Ampang L11-07, 11F Vincom Center, Dong Curtis Plaza 18 Wolska Str. Frýdek-Místek, 739 42 Hanwha Life Co., Ltd. Shiba 4-Chome Minato-ku Sudirman 71 Jakarta 12190 50450 Kuala Lumpur Malaysia Khoi, 72 Le Thanh Ton, Ben Nghe, 02-675, Warsaw, Poland Czech Republic 30 Stamford St, South Bank Tokyo 108-0014, Japan Indonesia Tel 603.2161.8001 District 1, Ho Chi Minh City, Tel 48.660.282.940 Tel 420.552.304.608 London SE1 9LQ, UK Tel 81.3.5441.5976 Tel 62.21.520.5815 Vietnam Fax 420.552.304.619 Fax 62.21.520.5810 Hanwha Chemical Tel 84.28.3824.8056 Hanwha Europe GmbH Hanwha Corporation Hanwha Petrochemical (Thailand) Co., Ltd. Fax 82.28.3824.8057 Budapest Representative Office Hanwha Abu Dhabi Representative Office Japan Branch Hanwha Corporation www.hanwhath.com Dayka Gabor U.3 Advanced Materials Office No.07, Floor 08, Tamouh 1F, Hanwha Building, 10-1 Ho Chi Minh 377 Moo 17, Bangna-Trad Road Hanwha Energy Corporation Rubin Business Center RM 204 Germany GmbH Tower, Building 12, The Marina Shiba 4-Chome Minato-ku Representative Office Bangsaothong, Bangsaothong Singapore Pte. Ltd. 1118, Budapest, Hungary Industriestraße 27 Square, Al Reem Island, Abu Dhabi Tokyo 108-0014, Japan Unit 704 , 7F Sailing Tower, 111A Samut Prakan 10540, Thailand 50 Collyer Quay, #04-02, OUE Tel 36.1.319.3237 92345 Dietfurt, Germany Tel 971.4.447.3757 Tel 81.3.6369.6067 Pasteur Street, District 1 Tel 66.2.315.3204 Bayfront, Singapore 049321 Fax 36.1.319.3234 Tel 49.8464.6423.0 Fax 81.3.6369.6066 Ho Chi Minh City, Vietnam Fax 66.2.315.3591 Fax 49.8464.6423.44 Hanwha Techwin Tel 84.8.3822.7301 Hanwha Life Insurance Hanwha Corporation Middle East FZE Hanwha Q CELLS Japan Fax 84.8.3822.7302 Hanwha Chemical Co., Ltd. (Vietnam) Athens Representative Office Hanwha Q CELLS GmbH JAFZA View LOB 18, 20th Floor Co., Ltd. India Pvt. Ltd. 14F Ruby Tower Rizariou 2A and Mikras Asias 66 www.q-cells.com Jabel Ali Free Zone, Dubai, UAE 8F, Hanwha Building, 10-1 Hanwha Corporation Unit No.105 - 106, Rectangle 1 81-85 Ham Nghi Street, Dist 1 Chalandri, Athens 15233, Greece Sonnenallee17-21 Tel 971.4.447.8901 Shiba 4-Chome Minato-ku Manila Representative Office D-4, Disticrt Centre, Saket TP HCM, Vietnam Tel 30.210.685.8280 06766 Bitterfeld-Wolfen, Germany Fax 971.4.447.8666 Tokyo 108-0014, Japan Unit No.1202 Trade and Financial New Delhi-110017, India Tel 84.28.3914.9100 (1107) Fax 30.210.685.8240 Tel 49.3493.6699.0 Tel 81.3.5441.5900 Tower, 7th Ave., corner 32nd St. Tel 91.11.4308.5500 Fax 84.28.3914.9101 Fax 49.3494.6699.199 Hanwha Power Systems Fax 81.3.5441.5921 Fort Bonifacio, Global city Hanwha Corporation Service Middle East LLC Taguing, Philippines Hanwha Petrochemical PT. Hanwha Life Moscow Representative Office Hanwha Q CELLS P.O.Box 33586, Plot 35-WR43 Hanwha Energy Corporation Tel 63.2.812.1366 Singapore Branch Insurance Indonesia 5th Floor, 7, Bolshaya Berlin Representative Office ICAD 3, Musaffah Japan Fax 63.2.946.2837 048581 16 Raffles Quay WTC Building 1, 12F Serpukhovskaya Street Lorenzweg 5, 12099 South Abu Dhabi, UAE 9F, Hanwha Building, 10-1 #14-03A Hong Leong Building Jl Jend Sudirman Kav 29 Moscow, Russia Berlin, Germany Tel 971.2.627.0151 Shiba 4-Chome Minato-ku Hanwha Aero Engines Singapore Jakarta 12920, Indonesia Tel 7.495.602.0303 Tel 49.3493.6699.0 Fax 971.2.627.0152 Tokyo 108-0014, Japan Co., Ltd. Tel 65.6223.5288 Tel 62.21.508.16100 Fax 7.495.662.3003 Fax 49.3494.6699.23000 Tel 81.3.5441.5942 Lot CN1-02B-4-8, Hi-Tech Park I Fax 65.6223.1828 Fax 62.21.508.16111 Hanwha Q CELLS GmbH Fax 81.3.5441.5920 Hoa Lac Hi-Tech Park Hanwha Techwin Hanwha Q CELLS Representative Office Ha Bang Commune Hanwha Q CELLS Malaysia Pinetree Securities Corporation Europe Ltd. France Office 9 Daphna St. Modiin 71705, Israel Hanwha Life Insurance Thach That District Sdn. Bhd. 20th Floor, TNR Tower Heriot House Heriot Road Immeuble le CALYPSO Tel 972 .77.915.9192 Co., Ltd. Hanoi, Vietnam Lot 1, Jalan SP 2, Seksyen 2 54A Nguyen Chi Thanh Street Chertsey Surrey 25, Rue de la Petite Duranne Fax 972.8.975.9192 Tokyo Representative Office Tel 84. 024. 3366. 8854 Selangor Science Park 2, Cyberjaya Dong Da District, Hanoi, Vietnam KT16 9DT, UK 13100 Aix-en-Provence, France 7F, Hanwha Building, 10-1 Selangor 63300, Malaysia Tel 84.024.6276.1818 Tel 44.0.1932.82.8100 Tel 33.6.46.88.48.18 Hanwha E&C Shiba 4-Chome Minato-ku P&W NGPF Manufacturing Tel 60.3.83.15.00.00 Fax 44.0.1932.82.8101 Iraq Representative Office Tokyo 108-0014, Japan Company Singapore Pte Ltd. Fax 60.3.83.20.26.60 Hanwha Asset Management Hanwha Q CELLS Harlow Riverside, Villa 775 51 Seletar Aerospace View Pte. Ltd. Hanwha Power Systems UK Office Street 32, District 925, East Karrada Acropark Golf Corp. 797506, Singapore Hanwha Q CELLS 50 Raffles Place, #34-06 Singapore Milan Branch Level 6, City Tower Baghdad, Iraq Tonegou 95, Kinkaitso, Nagasakisi Tel 65.6461.9700 Solar Power Land Tower, Singapore 048623 Via de Vizzi 93/95, Cinisello 40 Basinghall St. Tel 82.2.729.4150 Nagasakiken, Japan Fax 65.6461.9705 Upper Penthouse, Wisma RKT No. 2 Tel 65.6817.1650 Balsamo 20092, Milan, Italy London EC2V 5DE, UK Tel 81.95.884.3737 Jalan Raja Abdullah Tel 39.02.8410.2196 Tel 44.7717.538494 Hanwha Saudi Fax 81.95.884.2535 Hanwha Techwin Security Off Jalan Suitan Ismail 50300 Contracting Co., Ltd. Vietnam Co., Ltd. Kuala Lumpur, Malaysia Hanwha Power Systems Hanwha Q CELLS Delmon Building M Floor Hanwha International (S) Plot O-2, Que Vo Industrial Zone Tel 60.3.83.15.00.00 Moscow Office Italy Office Prince Sultan Road Al-Khobar Pte. Ltd. (Expansion area), Nam Son Fax 60.3.83.20.26.60 5th Floor, 7, Bolshaya Via Leonardo Da Vinci 12 Kingdom of Saudi Arabia 4 Shenton Way Commune, Bac Ninh City Serpukhovskaya Street 39100 Bolzano, Italy P.O.Box 31156 Al-Khobar 31952 #15-05/06 SGX 2 Center Bac Ninh Province 3, Vietnam Hanwha Q CELLS Moscow, Russia Tel 49.3494.6699.0 Tel 82.2.729.5824 Singapore 068807 Tel 84.02.2222.0860 (Thailand) Co., Ltd. Tel 7.499.750.1733 Fax 49.3494.6699.199 Tel 65.6227.2754 5F, 87 M.Thai Tower All Fax 65.6227.9337 Hanwha Techwin Seasons Place, Wireless Road Hanwha Q CELLS Turkey Automation Vietnam Lumpini Pathumwan www.q-cells.com Hanwha International Co., Ltd. Bangkok 10330, Thailand Ayazağa Yolu India Pvt. Ltd. 7floor - VNPT Building Tel 66.2.6543181 Eski Büyükdere Cad. No. 7 No.35, 3rd Floor, Maker Chamber 33 Ly Thai To Street, Bac Ninh City Fax 66.2.6543182 Giz 2000 Plaza III, Nariman Point, Mumbai 400 021 Bac Ninh Province, Vietnam Maslak - Istanbul, Turkey Maharashtra, India Tel 84.96.880.7191 Hanwha Q CELLS Corp. Tel 90.(0).212.290.7200 Tel 91.22.2204.3718 New Delhi Liaison Office Fax 90.(0).212.290.7202 Fax 91.22.2204.0281 Office No. 434, Level 4, Rectangle 1 Commercial Complex D.4 Saket, New Delhi, India 110017 Tel 91.11.6654.4759 Fax 91.11.6654.4052

116 117 AMERICAS Hanwha Aerospace Hanwha Q CELLS Hanwha Life USA Co., Ltd. America Inc. New York Representative Office Hanwha International LLC 5 McKee Place Cheshire 300 Spectrum Center Drive Suite 2860, 575 Lexington Avenue 300 Frank W. Burr Blvd. CT 06410, USA Suite 1250, Irvine, CA 92618, USA New York, NY 10022, USA Suite #52 Teaneck Tel 1.203.806.2090 Tel 1.949.748.5996 Tel 1.212.308.3690 NJ 07666, USA Fax 1.212.308.7502 Tel 1.609.655.2500 (775) Hanwha Techwin America Hanwha Q CELLS 500 Frank W. Burr Blvd. Teaneck USA Corp. Hanwha Asset Management Hanwha International LLC NJ 07666, USA 300 Spectrum Center Drive (USA) Ltd. LA Office Tel 1.877.213.1222 Suite 1250, Irvine, CA 92618, USA 575 Lexington Avenue, Suite 2860 6000 Phyllis Drive, Cypress Fax 1.201.373.0124 Tel 1.949.748.5996 New York, NY 10022, USA CA 90630, USA Tel 1.212.313.6861 Tel 1. 562.745.7199 Hanwha Techwin Hanwha Energy USA Automation Americas, Inc. Holdings Corporation World Corporation Hanwha International LLC 6000 Phyllis Dr. Cypress dba 174 Power Global P.O. Box 500066 Houston Office CA 90630, USA Corporation Saipan, MP 96950, USA 10111 Richmond Ave Tel 1.323.383.3662 300 Spectrum Center Drive Tel 1.670.234.5900 Ste 410 Houston Suite 1020, Irvine, CA 92618, USA Fax 1.670.234.5909 TX 77042, USA Hanwha Power Systems Tel 1.949.748.5970 Tel 1.713.402.1990 Americas Inc. 11700 Katy Freeway, Suite 650 174 Power Global Retail, LLC Hanwha International LLC Houston TX 77079, USA 2800 Post Oak Blvd., Suite 3900 D.C Office Tel 1.281.599.3377 ext.204 Houston, TX 77056 USA 1400 Crystal Dr. Arlington Fax 1.281.599.7734 Tel 1.855.524.2749 Virginia 22202, USA Tel 1.804.929.6746 Hanwha Azdel Inc. 174 Power Global Northeast, LLC 2000 Enterprise Drive 9 E 37th Street, 12th Floor Hanwha International Forest, VA 24551, USA New York, NY 10016 USA Peru S.A.C. Tel 1.434.363.8947 Tel 1.800.786.4028 Av.Javier Prado Este 560 Off. 2003 Fax 1.434.385.6532 San Isidro. Lima-Peru Hanwha Q CELLS Tel 51.637.2390 Hanwha Advanced Canada Inc. Materials America LLC 2860 Innovation Drive London Hanwha Resources Opelika Plant Ontario N6M 0C5, Canada (Canada) Ltd. 4400 Northpark Drive Tel 1.519.457.8325 1200 Waterfront Centre Opelika, AL 36801, USA Fax 1.519.457.9641 200 Burrard St. Tel 1.334.741.7725 PO Box 48600 Vancouver, Canada Fax 1.334.741.7796 Hanwha Q CELLS Chile SPA BC V7X 1T2 Enrique Foster Sur, 39. Planta 12 Hanwha Advanced Las Condes, Santiago, Chile Hanwha Mining Services Materials America LLC Tel 562.2378.7734 Chile SPA Shelby Plant Alonso de Cordova 5870 925 Washburn Switch Road Hanwha America Floor 7th, Office 707 Las Condes Shelby, NC 28150, USA Development Inc. Santiago, Chile Tel 1.704.434.2271 225 N. Columbus Drive, Suite 100 Tel 56.2.2993.7546 Fax 1.704.434.7465 Chicago, IL 60610, USA Tel 1.312.469.8093 Hanwha Hanwha Advanced Fax 1.312.255.8280 Machinery America Inc. Materials America LLC 9750 South Oakwood Park Drive Monroe Plant Hanwha Hawaii, LLC Franklin, WI 53132, USA 1530 E Front St. Monroe 841 Bishop St. Suite 1601 Tel 1.414.421.2300 MI 48161, USA Honolulu, Hawaii, USA Tel 1.734.457.5600 Tel 1.80.469.4875 Hanwha TechM USA LLC Fax 1.734.457.9894 1857 Enterprise Drive Hanwha Canada Rochester Hills, MI 48309 USA Hanwha Advanced Materials Development Tel 1.248.804.0313 Mexico S. De R.L. De C.V. 2860 Innovation Drive London Fax 1.248.588.1246 Prolongación Avenida Tecnológico Ontario, Canada #1345 Fraccionamiento Monterrey Universal Bearings LLC Technology Park Ciénega de Hanwha Life Investment 431 N Birkey St. Flores, NL. 65550, Mexico (USA) Ltd. Bremen, IN 46506, USA Tel 52.81.5000.9243 Suite 2860, 575 Lexington Avenue Tel 1.574.546.2261(265) New York, NY 10022, USA Tel 1.201.308.7944 Fax 1.212.308.7502

September 2020 Published by Hanwha Communications Committee 118 119 120