China Trust Invests in New Joint Venture Company Through Subsidiary

Release Date: 1150718 Announcement Date: 1150717 Announcement Time: 181632 Company Code: 2891 Company Name: China Trust Subject: Announcement by subsidiary Taiwan Life Insurance Co., Ltd. on participation in the investment in a new joint venture company (name not yet determined) for the Taichung City Sports Industry Park BOT project Applicable Clause: Clause 20 Date of Fact: 1150717 Explanation: 1. Name and nature of the subject matter (if it is a special stock, the special stock issuance conditions such as dividend rate should be specified): Ordinary shares of the new joint venture company 2. Date of Fact: 115/7/17~115/7/17 3. Date of Board of Directors' Approval: Not applicable 4. Other Approval Dates: Approval Level: Approval by the General Manager authorized by the Board of Directors Republic of China 115th year 7th month 17th day 5. Quantity of transaction units, price per unit, and total transaction amount: Total number of shares not exceeding 2.586 billion, price per share NT$10, total investment amount not exceeding NT$25.86 billion 6. Transaction counterparty and its relationship with the company (if the transaction counterparty is a natural person and not a related party of the company, the name may be omitted): New joint venture company, non-related party 7. If the transaction counterparty is a related party, the reasons for selecting the related party as the transaction counterparty and the previous transferor, the relationship between the previous transferor and the company and the transaction counterparty, the previous transfer date, and the transfer amount should be disclosed: Not applicable 8. If the owner of the transaction subject within the last five years was a related party of the company, the acquisition and disposal dates, prices, and relationship with the company at the time of the transaction should be disclosed: Not applicable 9. Matters related to the disposal of claims in this case (including the type of collateral accompanying the disposal of claims, if there are claims against related parties, the name of the related party and the book amount of the claims disposed of in this case should be disclosed): Not applicable 10. Disposal benefits (or losses) (not applicable for acquisition of securities) (if deferred, a list should be provided to explain the recognition situation): Not applicable 11. Delivery or payment conditions (including payment period and amount), contract restrictive clauses, and other important agreed matters: Delivery or payment conditions (including payment period and amount): To be handled in accordance with the contract; Contract restrictive clauses and other important agreed matters: To be handled in accordance with the contract 12. Decision-making method for this transaction, reference for price determination, and decision-making unit: Transaction decision-making method, price reference: To be handled in accordance with the contract Decision-making unit: Board of Directors 13. Net value per share of the company that is the subject of the acquisition or disposal of securities: Not applicable 14. Cumulative quantity, amount, shareholding ratio, and restricted rights situation (such as pledged situation) of the securities of this transaction held so far (including this transaction): Parent company: Does not hold this transaction security This company: 2.586 billion shares, total capital amount of NT$25.86 billion, 99.9%, none Subsidiary: Does not hold this transaction security 15. So far, the proportion of securities investment (including this transaction) listed in Article 3 of the "Regulations for the Handling of Assets Acquired or Disposed of by Publicly Issued Companies" in the company's latest financial statements, the proportion of total assets and equity attributable to the parent company's owners, and the amount of operating funds in the latest financial statements: Proportion of total assets 87.10%, proportion of equity attributable to the parent company's owners 1019.69%, Operating funds: Not applicable 16. Broker and brokerage fees: Not applicable 17. Specific purpose or use of acquisition or disposal: In accordance with the Insurance Act, for the use of life insurance funds 18. Opinion of dissenting directors in this transaction: None 19. This transaction is a related party transaction: No 20. Date of approval or agreement by the supervisory office or audit committee: Not applicable 21. The accountant issues an opinion that this transaction is not reasonable: Not applicable 22. Name of accounting firm: Not applicable 23. Name of accountant: Not applicable 24. Accountant's business license number: Not applicable 25. Does it involve a change in the business model: No 26. Explanation of changes in the business model: Not applicable 27. Transaction situation with the transaction counterparty in the past year and expected in the next year: Past year transactions: None Expected transactions in the next year: To be determined by the company's investment decision 28. Source of funds: Own funds 29. Date of previous major information release on the same matter: Not applicable 30. Other explanatory matters: None