Yulon Nissan Announces Board of Directors' Resolution to Waive Non-Compete for Company Managers

1. Date of Board of Directors' resolution: 115/05/12
2. Name and title of managers permitted to engage in competitive activities:
(1) General Manager Yao Chen-Hsiang
(2) Vice General Manager Li Chang-Yi
(3) Assistant Vice President Li Chia-Chi
3. Scope of permitted competitive activities: Limited to activities that do not harm the company's interests.
4. Period of permitted competitive activities: During their tenure as managers of the company.
5. Outcome of resolution (please explain voting results according to Article 32 of the Company Act): Unanimously approved by all attending directors.
6. Names and titles of managers whose permitted competitive activities involve businesses in mainland China (if not applicable to mainland China businesses, please enter "N/A" below):
(1) Vice General Manager Li Chang-Yi
7. Company names and positions held in said mainland China businesses:
(1) Vice General Manager Li Chang-Yi
Director, Guangzhou Fengshen Auto Co., Ltd.
Director, Fengshen Xiangyang Auto Co., Ltd.
8. Address of said mainland China businesses:
(1) Guangzhou Fengshen Auto Co., Ltd.: No. 8, Fengshen Avenue, Huadu District, Guangzhou City, Guangdong Province
(2) Fengshen Xiangyang Auto Co., Ltd.: Torch Building, No. 2 Chunyuan West Road, High-tech Development Zone, Xiangyang City, Hubei Province
9. Business scope of said mainland China businesses:
(1) Guangzhou Fengshen Auto Co., Ltd.: Automotive parts R&D, manufacturing
(2) Fengshen Xiangyang Auto Co., Ltd.: Automotive parts R&D, manufacturing
10. Degree of impact on the company's financial and business operations: None
11. If managers have invested in said mainland China businesses, their investment amount and shareholding ratio: N/A
12. Other matters that should be specified: None.