[TF-KY] Subsidiary Taiwan TF Biotech Announces Capital Reduction to Offset Losses and Creditor Notification

1. Board resolution date: 115/06/22

2. Reason for capital reduction: In accordance with group operational planning and to improve financial structure

3. Amount of capital reduction: NT$2,495,707,000

4. Number of shares to be eliminated: 249,570,700 shares

5. Capital reduction ratio: 99.40255872%

6. Capital after reduction: NT$15,000,000

7. Scheduled shareholders' meeting date: Not applicable

8. Expected number of listed common shares after new shares from capital reduction are listed: Not applicable

9. Ratio of listed common shares to total issued common shares after capital reduction (listed common shares / total issued common shares): Not applicable

10. If the number of listed common shares after capital reduction is less than 60 million shares and less than 25%, explanation of measures for low share liquidity: Not applicable

11. Capital reduction reference date: 115/06/22

12. Other matters to be disclosed:

(1) The company has a single legal shareholder and a single director; therefore, the chairman exercises the authority of the shareholders' meeting.

(2) In accordance with Article 73 and Article 74 as applied by Article 281 of the Company Act, the company hereby announces the capital reduction to its creditors. Creditors who have objections to this resolution must submit written objections with supporting documentation within 31 days from the announcement date (mailing address for written objections: 3F, No. 22, Shengyi 2nd Road, Zhubei City, Hsinchu County, Taiwan). The company will proceed in accordance with legal procedures. Creditors who do not express objections within the time limit will be deemed to have no objections.