Announcement of Election of Directors at 2026 Annual Shareholders’ Meeting

1.Date of occurrence of the change:2026/05/27
2.Elected or changed position (Please enter institutional director, institutional supervisor, independent director,
    natural-person director or natural-person supervisor): juristic-person director, independent director
3.Title and name of the previous position holder:
   (1)Representative of China Aviation Development Foundation：Che Shih
   (2)Representative of Ministry of Transportation and Communications：Kung-Yeun Jeng  
   (3)Representative of Ministry of Transportation and Communications： Cheng-Chung Young
   (4)Representative of China Aviation Development Foundation：Yu-Fen Hung
   (5)Representative of China Aviation Development Foundation：Wei-Cheng Hsieh
   (6)Representative of China Steel Corporation：Chien-Chih Hwang
   (7)Representative of Taiwan Sugar Corporation ：Ming-Chang Wu
   (8)Representative of Management Committee of National Development Fund, Executive Yuan：Shien-Quey Kao
   (9)Representative of TECO Electric & Machinery Co., Ltd. ：Mao-Hsiung Huang
   (10)Representative of Taipei Fubon Commercial Bank Co., Ltd. ：Yi-Ling Wu
   (11)Independent Director：Kenneth Huang-Chuan Chiu
   (12)Independent Director：Duei Tsai
   (13)Independent Director：Ming-Teh Wang
   (14)Independent Director：Pai-Ta Shih
   (15)Independent Director：Rex Yung-Cheng Lai

4.Resume of the previous position holder:
   (1) Che Shih：Chairman, Taiwan High Speed Rail Corporation.
   (2)Kung-Yeun Jeng：Chariman, Taiwan Railway Corporation, Ltd.
   (3)Cheng-Chung Young：Director-General, Railway Bureau, Ministry of Transportation and Communications. 
   (4)Yu-Fen Hung：Supervisor, CECI Engineering Consultants, Inc. Taiwan.
   (5)Wei-Cheng Hsieh：Secretary-General, China Aviation Development Foundation.
   (6)Chien-Chih Hwang：Chairman, China Steel Corporation.
   (7)Ming-Chang Wu：Chairman, Taiwan Sugar Corporation.
   (8)Shien-Quey Kao：Deputy Minister, National Development Council.
   (9) Mao-Hsiung Huang：Chairman, Century Development Corporation.
   (10) Yi-Ling Wu：Senior Executive Vice President, Taipei Fubon Commercial Bank Co., Ltd.
   (11)Kenneth Huang-Chuan Chiu：Managing Partner of Kew & Lord.
   (12)Duei Tsai：Public Welfare Independent Director, STARLUX AIRLINES Co., LTD.
   (13)Ming-Teh Wang：Chairman, Transformative Cell Processing Co., Ltd.
   (14)Pai-Ta Shih：Director, Digital Finance and Industry Development Research Center, College of Management,
           National Taiwan University.
   (15)Rex Yung-Cheng Lai：Professor, Railway Technology Research Center, National Taiwan University.

5.Title and name of the new position holder:
  (1)Representative of China Aviation Development Foundation：Che Shih
  (2)Representative of Ministry of Transportation and Communications：Cheng-Chung Young  
  (3)Representative of Ministry of Transportation and Communications：Kung-Yeun Jeng 
  (4)Representative of China Aviation Development Foundation：Wei-Cheng Hsieh
  (5)Representative of China Aviation Development Foundation：Hsiang-Sheng Lin
  (6)Representative of China Aviation Development Foundation：Tien-Ying Lee
  (7)Representative of China Steel Corporation：Chien-Chih Hwang
  (8)Representative of Taiwan Sugar Corporation ：Ming-Chang Wu  
  (9)Representative of Management Committee of National Development Fund, Executive Yuan：Chao-Neng Chang
  (10)Representative of TECO Electric & Machinery Co., Ltd.：Ming-Shieh Li
  (11)Independent Director：Duei Tsai
  (12)Independent Director：Pai-Ta Shih
  (13)Independent Director：Rex Yung-Cheng Lai 
  (14)Independent Director：Yih-Ray Hwang 
  (15)Independent Director：Yu-Fen Lin
6.Resume of the new position holder:
(1) Che Shih：Chairman, Taiwan High Speed Rail Corporation.
(2) Cheng-Chung Young：Director-General, Railway Bureau, Ministry of Transportation and Communications.
(3) Kung-Yeun Jeng：Chariman, Taiwan Railway Corporation, Ltd.
(4) Wei-Cheng Hsieh：Secretary-General, China Aviation Development Foundation.
(5) Hsiang-Sheng Lin：Supervisor, Taoyuan International Airport Services Co., Ltd.
(6) Tien-Ying Lee：Chairman, CHC Healthcare Group.
(7) Chien-Chih Hwang：Chairman, China Steel Corporation.
(8) Ming-Chang Wu：Chairman, Taiwan Sugar Corporation.
(9)Chao-Neng Chang：Secretary General, National Development Council, Executive Yuan.
(10) Ming-Shieh Li：Chairman, TECO Electric & Machinery Co., Ltd.
(11) Duei Tsai：Public Welfare Independent Director, STARLUX AIRLINES Co., LTD.
(12)Pai-Ta Shih：Director, Digital Finance and Industry Development Research Center, College of Management, National Taiwan University.
(13) Rex Yung-Cheng Lai：Professor, Railway Technology Research Center, National Taiwan University.
(14) Yih-Ray Hwang：Independent Director, China Airlines.
(15) Yu-Fen Lin：Managing Partner, Lex & Honor Law Office.
7.Circumstances of change (Please enter “resignation”, “dismissal”, 
“term expired”, “death” or “new appointment”): Term expired
8.Reason for the change: Term expired and the whole Board is re-elected.
9.Number of shares held by the new position holder when elected:
(1)China Aviation Development Foundation：260,040,000 shares. 
(2)Ministry of Transportation and Communications：2,420,000,000 shares.
(3)Ministry of Transportation and Communications：2,420,000,000 shares.
(4)China Aviation Development Foundation：260,040,000 shares. 
(5)China Aviation Development Foundation：260,040,000 shares.
(6)China Aviation Development Foundation：260,040,000 shares.
(7)China Steel Corporation：242,148,000 shares.
(8)Taiwan Sugar Corporation：200,000,000 shares.
(9)TECO Electric & Machinery Co., Ltd.：190,060,578 shares.
(10)Management Committee of National Development Fund：120,000,000 shares.
(11)Independent Director, Duei Tsai：0 share.
(12)Independent Director, Pai-Ta Shih：0 share.
(13)Independent Director, Rex Yung-Cheng Lai：0 share.
(14)Independent Director, Yih-Ray Hwang：0 share.
(15)Independent Director, Yu-Fen Lin：0 share.

10.Original term (from __________ to __________):2023/05/25 to 2026/05/24
11.Effective date of the new appointment:2026/05/27
12.Turnover rate of directors of the same term: N/A(whole Board is re-elected)
13.Turnover rate of independent directors of the same term: N/A(whole Board is re-elected)
14.Turnover rate of supervisors of the same term: N/A
15.Change in one-third or more of directors (Please enter “Yes” or“No”): Yes
16.Any other matters that need to be specified (the information disclosure 
also meets the requirements of Article 7, subparagraph 6 of the Securities
and Exchange Act Enforcement Rules, which brings forth a significant impact on shareholders rights or the price of the securities on public companies.): None