==> picture [233 x 81] intentionally omitted <==

==> picture [477 x 4] intentionally omitted <==

2Q 2022 Operating Results

MasterLink Securities August 16, 2022 2022 Taiwan Corporate Day

© Chunghwa Telecom

Disclaimer

STATEMENT REGARDING UNAUDITED FINANCIAL INFORMATION

The unaudited financial information under T-IFRSs in this presentation is preliminary and subject to adjustments and modifications. Adjustments and modifications to the financial statements may be identified during the course of the audit /review work, which could result in significant differences from this preliminary unaudited financial information.

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forwardlooking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this presentation reflect the current belief of Chunghwa as of the date of this presentation and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This presentation is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

SPECIAL NOTE REGARDING NON-GAAP FINANCIAL MEASURES

A body of generally accepted accounting principles is commonly referred to as "GAAP". A non-GAAP financial measure is generally defined by the SEC as one that purports to measure historical or future financial performance, financial position or cash flows but excludes or includes amounts that would not be so adjusted in the most comparable U.S. GAAP measure. We disclose in this report certain non-GAAP financial measures, including EBITDA. EBITDA for any period is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other expenses, net, (iv) income tax, (v) cumulative effect of change in accounting principle, net of tax and (vi) (income) loss from discontinued operations.

In managing our business we rely on EBITDA as a means of assessing our operating performance. We believe that EBITDA can be useful to facilitate comparisons of operating performance between periods and with other companies because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax and tax on assets and statutory employee profit sharing, which is similar to a tax on income and (iv) other expenses or income not related to the operation of the business.

EBITDA is not a measure of financial performance under U.S. GAAP or T-IFRSs. EBITDA should not be considered as an alternate measure of net income or income from operations, as determined on a consolidated basis using amounts derived from statements of operations prepared in accordance with U.S. GAAP or T-IFRSs, as an indicator of operating performance or as cash flows from operating activity or as a measure of liquidity. EBITDA has material limitations that impair its value as a measure of a company's overall profitability since it does not address certain ongoing costs of our business that could significantly affect profitability such as financial expenses and income taxes, depreciation, pension plan reserves or capital expenditures and associated charges. These non-GAAP measures are not in accordance with or an alternative for GAAP financial data, the nonGAAP results should be reviewed together with the GAAP results and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies.

Committed to Improving Shareholder Value

Cash Return

==> picture [308 x 167] intentionally omitted <==

----- Start of picture text -----

NT$ bn
40.00
35.00
30.00
25.00
20.00
34.7 32.8 33.4 35.7
15.00
10.00
5.00
0.00
2019 2020 2021 2022
----- End of picture text -----

==> picture [36 x 36] intentionally omitted <==

2022 AGM resolved to distribute NT$35.7 billion to shareholders

NT$4.608 per share
payout ratio 100%

Note:

a) 1 ADR = 10 common shares
b) The regular dividend has been calculated based on total share number 7,757,446,545.

==> picture [201 x 71] intentionally omitted <==

Business Overview

Business Overview Mobile Service

==> picture [301 x 47] intentionally omitted <==

----- Start of picture text -----

1 Mobile Revenue Market Share (a)(b)
----- End of picture text -----

==> picture [302 x 47] intentionally omitted <==

----- Start of picture text -----

1 Mobile Subs Market Share (b)
----- End of picture text -----

==> picture [243 x 226] intentionally omitted <==

----- Start of picture text -----

CHT
39.0%
Others
61.0%
----- End of picture text -----

==> picture [249 x 235] intentionally omitted <==

----- Start of picture text -----

APT
7.0%
FET
CHT
23.9%
36.2%
T Star
8.9%
TWM
24.0%
----- End of picture text -----

Source: Company data ,NCC statistics Rev：Apr. 2022 to May. 2022 Sub：as of May. 2022 Note :

a) Revenues are based on T-IFRSs b) Excluding IoT SIMs

Business Overview Mobile Service

Consecutive 090 Postpaid ARPU Growth for 5 Quarters

==> picture [73 x 57] intentionally omitted <==

Mobile service revenue[(a)] Monthly fee uplift YoY ▲ 6.1％ ▲ 37% 090 Postpaid ARPU YoY ▲ 4.0％

==> picture [292 x 220] intentionally omitted <==

----- Start of picture text -----

(Billion)
20 600
504 516 516 515 524
500
15
400
10 300
14.33 14.74 14.82 14.84 15.20
200
5
100
0 0
2Q21 3Q21 4Q21 1Q22 2Q22
Mobile Service Revenue 090 Postpaid ARPU
----- End of picture text -----

==> picture [309 x 358] intentionally omitted <==

----- Start of picture text -----

Highest 090 Subs &
Lowest Churn Rate(b)
090 Subs
YoY ▲ 0.7％
(Thousand)
1.2%
10,000
1.0%
8,000
0.8%
6,000
0.6%
4,000
0.4%
2,000 0.2%
- 0.0%
2Q21 3Q21 4Q21 1Q22 2Q22
CHT Subs TWM Subs FET Subs
CHT Churn % TWM Churn % FET Churn %
----- End of picture text -----

(Thousand)

Source ： Company data as of Jun 2022, Others from NCC statistics, as of May. 2022 a) Consolidated Mobile Service Revenue (Including IoT) b) Churn rate for postpaid subscribers, Company data, average of April and May

Business Overview Fixed Broadband Service

Consecutive ARPU Growth for 11 Quarters

(a) Fixed Broadband Revenue YoY ▲ 3.6％ Fixed Broadband ARPU YoY ▲ 3.1％

==> picture [285 x 260] intentionally omitted <==

----- Start of picture text -----

(Million)
742 749 755 760 765
12,000
10,000 10,223 10,402 10,445 10,511 10,586
8,000
6,000
4,000
2,000
0
2Q21 3Q21 4Q21 1Q22 2Q22
Fixed Broadband Revenue Fixed Broadband ARPU
----- End of picture text -----

Note : (a) Revenue is calculated based on T-IFRSs

Higher-Speed Adoption Growth

300M+ Subs YoY ▲ 36.5％

(Thousand)

==> picture [276 x 259] intentionally omitted <==

----- Start of picture text -----

4,358 4,363 4,354 4,354 4,368
12% 14% 15% 16% 17%
31%
31% 31% 31%
31%
41% 40% 39% 38% 36%
16% 15% 15% 15% 15%
2Q21 3Q21 4Q21 1Q22 2Q22
ADSL Fiber (<100M)
Fiber (≥100M~<300M) Fiber (≥300M)
----- End of picture text -----

==> picture [201 x 71] intentionally omitted <==

Segment Reporting

Consumer Business Group (CBG) 2Q22 Financial Summary

==> picture [304 x 383] intentionally omitted <==

----- Start of picture text -----

Revenue
+3.3 % YoY
(Billion)
31.52
30.52
35
0.49
0.49
30
7.48
7.33
25
20
10.71
10.50
15
10
12.20 12.84
5
0
2Q21 2Q22
Mobile Services Fixed-line Services
Sales Others
----- End of picture text -----

==> picture [36 x 36] intentionally omitted <==

==> picture [37 x 36] intentionally omitted <==

==> picture [36 x 36] intentionally omitted <==

Mobile service revenue of CBG +5.3% YoY due to continued growth of postpaid subs and 5G migration

Fixed communication service revenue of CBG +1.9% YoY driven by the growing higher-speed service adoption and IPTV Service

The well-received Taiwan’s Professional Baseball League games and the Internet Celebrity shows further enhanced video service popularity

Consumer Business Group (CBG) 2Q22 Highlights

IPTV/MOD + OTT Business Performance

Largest video platform with steady subscription growth reaching 2.7mn subscribers to date

==> picture [73 x 73] intentionally omitted <==

Our Fixed-Broadband + Mobile + Wi-Fi altogether promotion program rolled out in January +13.2% QoQ

==> picture [283 x 220] intentionally omitted <==

----- Start of picture text -----

2,665
2,588
2,559
2,527
2,499
2Q21 3Q21 4Q21 1Q22 2Q22
IPTV(MOD)+OTT Subscription(K)
----- End of picture text -----

==> picture [53 x 53] intentionally omitted <==

Home Wi-Fi device subscription +101.4% YoY to sustain homecentric applications

==> picture [81 x 69] intentionally omitted <==

Popular sport events in every quarter to drive up video business

Enterprise Business Group (EBG) 2Q22 Financial Summary

==> picture [301 x 47] intentionally omitted <==

----- Start of picture text -----

Revenue
----- End of picture text -----

==> picture [284 x 335] intentionally omitted <==

----- Start of picture text -----

+9.4% YoY
(Billion)
17.75
16.23
20
0.82
16 0.98
6.01
4.56
12
8
8.67 8.64
4
2.02 2.28
0
2Q21 2Q22
Mobile Services Fixed-line Services
ICT Business Others
----- End of picture text -----

==> picture [39 x 36] intentionally omitted <==

==> picture [39 x 37] intentionally omitted <==

EBG revenue +9.4% YoY mainly due to strong ICT business growth, with revenue +31.7% YoY

EBG mobile service revenue +13% YoY owing to 5G migration, increasing demand of text messages under COVID-19

Digital transformation demand continued to drive up data communication revenue and broadband access revenue

==> picture [6 x 67] intentionally omitted <==

Enterprise Business Group (EBG) 2Q22 Highlights

Emerging Enterprise Application Performance Enterprise ICT Business Revenue

==> picture [86 x 63] intentionally omitted <==

==> picture [61 x 71] intentionally omitted <==

----- Start of picture text -----

AIoT
----- End of picture text -----

IDC Cloud Service

YoY  69.9% YoY  23.9% YoY  25.1%

==> picture [62 x 62] intentionally omitted <==

Team up with equipment giants to roll out the first satellite backhaul based portable 5G private network supporting mobile communication under both NSA and SA architecture in Taiwan

==> picture [66 x 65] intentionally omitted <==

==> picture [68 x 65] intentionally omitted <==

==> picture [59 x 57] intentionally omitted <==

----- Start of picture text -----

cloud
----- End of picture text -----

Cyber Security 5G private network Big Data YoY  29.4% YoY  190.9% YoY  124.8%

==> picture [61 x 58] intentionally omitted <==

Combine 5G AIoT sensing devices, AR technology, domestic 5G O-RAN equipment and 5G private network to offer 5G AIoT smart healthcare services in Kaohsiung.

International Business Group (IBG) 2Q22 Financial Summary

==> picture [306 x 355] intentionally omitted <==

----- Start of picture text -----

Revenue
+17.9%(a) YoY
(Billion)
2.0 1.76
1.49
0.12
0.05
0.38
0.18
1.0
1.26 1.26
0.0
2Q21 2Q22
Fixed-line Services ICT Business Others
----- End of picture text -----

==> picture [36 x 36] intentionally omitted <==

IBG revenue +17.9% YoY mainly due to growing demand of IDC, cloud and ICT services from global clients

Expand overseas bases to serve Taiwanese companies in the US, Japan, and Southeast Asia with professional ICT capabilities

Singed an MOU with Thonburi Hospital in Thailand to develop smart hospital solutions

Note : (a) The calculation of growth rate is based on actual amount

==> picture [201 x 71] intentionally omitted <==