Announced by CTBC Holding on behalf of Taiwan Life that the Taiwan Life Board passed the resolution for cumulative subordinated corporate bonds issuance.

 

1.Date of the board of directors resolution:2025/05/09

2.Name [issue no.__ of (secured, unsecured) corporate bonds of

___________ (company)]:The cumulative subordinated corporate bonds of Taiwan

Life Insurance Co., Ltd. in 2025.

3.Whether to adopt shelf registration (Yes/No):No.

4.Total amount issued:Up to NT$30 billion (or its equivalent in a foreign

currency), which can be issued in singular or several stages accordance to

market conditions.

5.Face value per bond:NT$ 1 million (It depends on market conditions if the

issuance is denominated in foreign currency).

6.Issue price:100% issue at the par value.

7.Issuance period:10 years or more

8.Coupon rate:The Chairman or designated person is authorized to decide

depending on market conditions.

9.Types, names, monetary values and stipulations of collaterals:None.

10.Use of the funds raised by the offering and utilization plan:To enhance

working capital, strengthen financial structure, and increase capital

adequacy ratio.

11.Underwriting method:The Chairman or designated person is authorized to

decide.

12.Trustees of the corporate bonds:The Chairman or designated person is

authorized to decide.

13.Underwriter or agent:The Chairman or designated person is authorized

to decide.

14.Guarantor(s) for the issuance:None.

15.Agent for payment of the principal and interest:The Chairman or designated

person is authorized to decide.

16.Certifying institution:None.

17.Where convertible into shares, the rules for conversion:None.

18.Sell-back conditions:None.

19.Buyback conditions:The Chairman or designated person is authorized to

decide.

20.Reference date for any additional share exchange, stock swap, or

subscription:None.

21.Possible dilution of equity in case of any additional share exchange,

stock swap, or subscription:None.

22.Any other matters that need to be specified:

(1)After obtaining approval from the competent authorities, the bonds will

apply for listing in TPEx.

(2)The issuance terms and conditions and relevant matters of the bonds

are authorized at the Chairman's discretion.