Announcement on behalf of Taiwan Life, disposal of Crestview Partners IV (Offshore), L.P. and other 7 Private Funds

1.Name and nature of the underlying security (if preferred shares, the terms
and conditions of issuance shall also be indicated, e.g., dividend yield):
Crestview Partners IV (Offshore), L.P. and other 7 Private Funds
Private Fund
2.Date of occurrence of the event:2023/12/11
3.No., unit price, and monetary amount of the transaction:
N.A.; N.A.; The amount disposed by the Company would be about USD 240 million
4.Counterparty to the trade and its relationship to the company (if the
trading counterparty is a natural person and not a related party of the
company, its name is not required to be disclosed):
Private Market Holdings II LLC
Relation of company: not related
5.Where the counterparty to the trade is a related party, an announcement
shall also be made of the reason for choosing the related party as trading
counterparty and the identity of the previous owner, including its
relationship with the company and the trading counterparty, the price of the
ownership transfer, and date of transfer:N.A.
6.Where the owner of the underlying securities within the past five years
has been a related party of the company, an announcement shall also include
the dates and prices of acquisition and disposal by the related party and
its relationship with the company at the time:N.A.
7.Matters related to the creditor’s rights currently being disposed of
(including type of collateral of the disposed creditor’s rights; if the
creditor’s rights are creditor’s rights over a related party, the name of
the related party and the book amount of such creditor’s rights currently
being disposed of must also be announced):N.A.
8.Profit (or loss) from the disposal (not applicable in cases of acquisition
of securities) (where originally deferred, the status or recognition shall
be stated and explained):
The amount of anticipated profit is about USD 58 million
9.Terms of delivery or payment (including payment period and monetary
amount), restrictive covenants in the contract, and other important
stipulations:
The disposal of Crestview Partners IV (Offshore), L.P.
and other 7 Private Funds were approved
following the authorization procedure of company.
The amount of the disposal is about USD 240 million.
The monetary amount is adjusted by contract-price adjustment mechanism;
other important stipulations:In accordance with the related purchase
and sale agreements
10.The manner in which the current transaction was decided, the reference
basis for the decision on price, and the decision-making unit:
Reference is made by Capital Account Statements issued by 8 private funds
in connection with respective NAV, external advisor's valuation analysis
reports and a fairness opinion issued by Greenfield CPA&Co. Taiwan;
The decision-making is following the authorization procedure of company
11.Net worth per share of company of the underlying securities acquired or
disposed of:N.A.
12.The discrepancy between the reference price of private placement company
and the transaction amount per share is 20 percent or more:N.A.
13.Current cumulative no., amount, and shareholding ratio of the securities
being traded (including the current transaction) as of the date of
occurrence and status of any restriction of rights (e.g.,pledges):
N.A.;USD 28 million;0%
Restriction of rights:No.
14.Privately placed securities (including the current transaction) as a
percentage of total assets of the company and shareholder’s equity of the
parent company on the latest financial statements, and the operating capital
on the latest financial statements as of the date of occurrence:
3%;50%
Operating capital:N.A.
15.Broker and broker's fee:N.A.
16.Concrete purpose or use of the acquisition or disposition:
In compliance with Insurance Law, for the use of the insurance funds.
17.Whether the directors expressed any objection to the present transaction:
N.A.
18.Whether the trading counterparty is a related party:No.
19.Date of approval by board of directors:N.A.
20.Recognition date by supervisors or approval date by audit committee:N.A.
21.Whether the CPA issued an opinion on the unreasonableness of the current
transaction:No.
22.Name of the CPA firm:Greenfield CPA&Co.
23.Name of the CPA:HSU,MING-HSIUNG
24.License no.of the CPA:Taipei CPA Association No.3723
25.Any other matters that need to be specified:No.