CTBC Financial: Announced on behalf of our subsidiary, Taiwan Life Insurance Co., Ltd., regarding Russia’s sovereign bond and Gazprom’s foreign currency bond impairment

Provided by: CTBC FINANCIAL HOLDING CO., LTD.

SEQ_NO

3

Date of announcement

2022/04/08

Time of announcement

17:42:33

Subject

 Announced on behalf of our subsidiary,Taiwan Life
Insurance Co., Ltd., regarding  Russia's sovereign bond
and Gazprom's foreign currency bond impairment

Date of events

2022/04/08

To which item it meets

paragraph 51

statement

1.Date of occurrence of the event:2022/04/08
2.Company name:Taiwan Life Insurance Co., Ltd.
3.Relationship to the Company (please enter "head office" or
  "subsidiaries"):subsidiaries
4.Reciprocal shareholding ratios:100% subsidiary of CFHC
5.Cause of occurrence:according to IFRS(International Financial Reporting
Standards) 9
6.Countermeasures:N/A
7.Any other matters that need to be specified:The total investment cost of
Russia's sovereign bond and Gazprom's foreign currency bond is NTD$9,670,451
thousand.Russia may not have the ability to pay the principle and interest
payments of outstanding bonds due to the sanctions imposed on Russia over
Ukraine invasion.NTD$581,554 thousand loss would be caused by imparment
amount on March 31st, 2022.