Announced on behalf of Taiwan Life for the change in accounting policy starting from January 1, 2026.

1.Date of the board of directors' resolution:2026/09/30

2.Nature of the change:Change in accounting policy

3.Reason for the change:Taiwan Life announced to change the accounting policy

regarding the subsequent measurement of investment property from cost model

to fair value model.

4.Changed period for retrospective application of the new accounting policy:

2026/01/01

5.The line items affected and the actual effect for the year

before accounting change:The affected items are as follows.

(1)Consolidated balance sheet as of 2025/01/01: Investment property decreased

NT$6.28 billion, Deferred tax assets increased NT$1.99 billion, Deferred tax

liabilities increased NT$0.86 billion and Total shareholders' equity

decreased NT$5.15 billion.

(2)Consolidated balance sheet as of 2025/12/31: Investment property increased

NT$0.93 billion, Property and equipment decreased NT$0.04 billion,

Right-of-Use asset decreased NT$0.15 billion, Deferred tax assets increased

NT$0.92 billion, Deferred tax liabilities increased NT$1.3 billion and Total

shareholders' equity increased NT$0.36 billion.

(3)Consolidated statement of comprehensive income for the year 2025:

Change in fair value of investment properties increased NT$7.01 billion,

Income tax expense increased NT$1.50 billion and Net income increased

NT$5.51 billion.

6.Actual effect on the opening balance of retained earnings for

the past accounting year:The opening balance of retained earnings for 2025

decreased by NT$5.15 billion.

7.The reasonableness and necessity for the change in accounting policy

or accounting estimate after the beginning of the accounting year:To

strengthen the matching of assets and liabilities, facilitate alignment with

IFRS 17, reflect the economic substance of Taiwan Life's assets, and enhance

the transparency of financial reporting.

8.If the decided effect is impracticable, specify the reasons

why retrospective application is impracticable, and how and from

when the accounting policy change will be applied:N/A

9.If the decided effect is impracticable, the opinion provided by the CPA

about the effect of the audit opinion for the accounting year

preceding the accounting change:N/A

10.Opinion expressed by the CPA regarding itemized analysis

of reasonableness:The CPA has reviewed in accordance with Article 6 of the

Regulations Governing the Preparation of Financial Reports by Insurance

Enterprises and did not identify any unreasonable matters.

11.Objection or reservation opinion from the independent directors:None

12.Countermeasures:Taiwan Life elected to subsequently measure its

investment properties at fair value starting from January 1, 2026, in

accordance with the Regulations Governing the Preparation of Financial

Reports by Insurance Enterprises. This accounting policy change was approved

by Taiwan Life's Board of Directors on September 30, 2026.

13.Any other matters that need to be specified:The accounting policy change

approved by the Board of Directors is subject to the approval of the

competent authority before becoming effective.