Explanation of mass media reporting

1.Date of occurrence of the event:2023/07/07

2.Company name:CTBC Financial Holding Co.,Ltd

3.Relationship with the Company (please enter ”the company itself” or

  ”subsidiaries”):the company itself

4.Reciprocal shareholding percentage:N/A

5.Name of the reporting media:United Daily News, Libertytimes etc.

6.Content of the report:In a media report released July 6, 2023, the Taiwan

Higher Education Union and former Far East University vice president

Bor-Chuan Yu have falsely accused CTBC Holding of unlawfully intervening

in a school’s board of directors, forcing out staff, and holding ulterior

motives concerning the school’s assets and restructuring.

7.Cause of occurrence:

CTBC Holding denies the claims and issues the following statement:

(1) CTBC Holding has always supported educational development and is

committed to contributing to society. Over the past nine years,

since 2015, it has donated more than NT$1 billion to fund the operations

of CTBC Business School, earning recognition as a new model for corporate

philanthropy in promoting the transformation of private schools.

(2) As part of our commitment to funding education, CTBC Holding is open to

evaluating and supporting other schools’ financial needs where possible in

order to expand our positive impact on education and society.

(3) Recent allegations that CTBC Holding has ulterior motives concerning the

assets of a specific school are unfounded. These claims are inconsistent with

 the facts. Furthermore, it would be impossible for such a situation to

occur under the supervision of the authorities.

(4) CTBC Holding has no further comment on reports regarding this case.

8.Countermeasures:Announce the statement on M.O.P.S.

9.Any other matters that need to be specified:None