Date of announcement 2022/01/21

Time of announcement 18:31:22

Date of events   2022/01/21

To which item it meets paragraph 11

Statement

1.Date of the board of directors resolution:2022/01/21

2.Reason for capital reduction:Since the Share Swap between CDF and ChinaLife has been completed on December 30, 2021, the shares of China Life ownedby KGI Securities Co. Ltd were converted to NT$4,897,759,016, 340,713,669common stocks and 310,901,223 preferred stocks of CDF accordingly. KGISecurities Co. Ltd is going to return all of its NT$4,897,759,016,340,713,669 common stocks and 310,901,223 preferred stocks of CDF by way ofcapital reduction. The measurement date of share price is January 20, 2022.The amount of capital reduction will be calculated based on CDF's closingprice on the measurement date. The difference between the shares cancelledat NT$10 par value and the value of CDF shares returned should be paid incash.

3.Amount of capital reduction:NTD 14,208,611,810.

4.Cancelled shares:1,420,861,181 shares.

5.Capital reduction percentage:43.06%.

6.Share capital after capital reduction:NTD 18,787,366,290.

7.Scheduled date of the shareholders meeting:Pursuant to Article 15,paragraph 1 of the Financial Holding Company Act, the rights and functionsof the shareholders’ meeting is to be exercised by the board of directorsheld on February 18, 2022.

8.Estimated no.of listed common shares after issuance of new sharesupon capital reduction:N/A.

9.Estimated ratio of listed common shares after issuance of new shares uponcapital reduction to outstanding common shares:N/A.

10.Please explain any countermeasures for lower circulation inshareholding if the aforesaid estimated no.of listed common shares uponcapital reduction does not reach 60 million and the percentage does notreach 25%:N/A.

11.The record date for capital reduction:The chairman of the board is to beauthorized to, after obtaining approval for the capital reduction from thecompetent authority, determine the reduction record date.

12.Any other matters that need to be specified:N/A.