8/8/2019 CBDD9C57d01

1/2

Press Release For Immediate Publication

M&M wins bid for acquisition of South Korean SUV giant - Ssangyong Motor Company

Declared preferred bidder

Left to Right: Mr. Rajan Wadhera Chief Executive Technology, Product Development & Sourcing (Automotive

& Farm Sector), Mr. Rajesh Jejurikar Chief Executive Automotive Division, Dr. Pawan Goenka, President,

Automotive & Farm Sector, Mr. Anand Mahindra, Vice Chairman & Managing Director, Mahindra Group, Mr.

Bharat Doshi, Executive Director & Group CFO, Mr. V.S. Parthasarathy, Group CIO, EVP

Finance and M&A,

M&M and Corporate IT, Mr. Pravin Shah, Chief Executive, International Operations, Automotive and Farm Sector

at the press conference in Mumbai

Mumbai, August 12th, 2010: Mahindra & Mahindra Ltd. (M&M), Indias leading manufacturer of utilityvehicles, emerged as the preferred bidder for the acquisition of a majority stake in South Korean SUV makerSsangyong Motor Company (SYMC). The preferred bidder status would require it to enter into a Memorandumof Understanding with SYMC, followed by a detailed due diligence process.

SYMC is a Korean manufacturer of auto and aggregates, with 7 models under 5 brands. The 7 models include2 large sized sedans, 4 SUVs and 1 MPV. It also has a manufacturing plant for gasoline and diesel engines as

well as axles. SYMC is a significant player in the SUV segment in Korea, having recorded 1.3 million SUVsales from 1990 to 2009. It has a strong brand and presence in Europe, Russia, South America, the MiddleEast, Africa and Asia. Established in 1962, SYMC has more than 1,200 dealers globally. It has R&D manpowerstrength of around 600 people and modern R&D infrastructure for design, testing and validation.

This strategic acquisition, when concluded, would make Mahindra and SYMC together a force to reckon with inthe global SUV space. It is intended that SYMC will continue to function as an independent entity with Koreanmanagement.

Korea is one of the worlds leading centres of automotive excellence and Ssangy ong brings with it a richlegacy of R&D and innovation. Mahindra and Ssangyong will create synergy, which will make us significanglobal players, said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group.

8/8/2019 CBDD9C57d01

2/2

Ssanyong has very strong competencies and capabilities in technology. We are committed to leverage thiscompetency by investing in a new Ssangyong product portfolio to gain momentum in global markets, said DrPawan Goenka, President, Automotive and Farm Sector, Mahindra & Mahindra Ltd.

There are strong complementarities between the SYMC and Mahindra portfolio of products, providing anopportunity to create distinct positioning. The wide sales and distribution networks and complementary productlines will provide access to many overseas markets for both companies. There is also an opportunity tointroduce a premium portfolio of SUVs in the Indian market, providing a new growth avenue for Ssangyong andfurther strengthening Mahindras dominant position.

About The Mahindra Group

Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billionIndian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position inutility vehicles, tractors and information technology, with a significant and growing presence in financiaservices, tourism, infrastructure development, trade and logistics. The Mahindra Group today is anembodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range playerwith a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVsand sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called MahindraREVA), strengthening its position in the Electric Vehicles domain. The Mahindra Group expanded its ITportfolio when Tech Mahindra acquired the leading global business and information technology servicescompany, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its firstSustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09

For further information, please contact:

Ms. Roma BalwaniSenior Vice President & Head - Corporate CommunicationsMahindra & Mahindra LtdPhone: (+91-22) 2490 1441Fax: (+91-22) 2490 0830Email:balwani.roma@mahindra.com

http://balwani.roma@mahindra.com/http://balwani.roma@mahindra.com/http://balwani.roma@mahindra.com/http://balwani.roma@mahindra.com/