Mega Union — Annual Report 2025

May 4, 2026

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS AND

INDEPENDENT AUDITORS’ REPORT DECEMBER 31, 2025 AND 2024

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For the convenience of readers and for information purpose only, the auditors’ report and the accompanying financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. In the event of any discrepancy between the English version and the original Chinese version or any differences in the interpretation of the two versions, the Chinese-language auditors’ report and financial statements shall prevail.

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INDEPENDENT AUDITORS’ REPORT TRANSLATED FROM CHINESE

To the Board of Directors and Shareholders of MEGA UNION TECHNOLOGY INCORPORATED

Opinion

We have audited the accompanying consolidated balance sheets of MEGA UNION TECHNOLOGY INCORPORATED and subsidiaries (the “Group”) as at December 31, 2025 and 2024, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of material accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2025 and 2024, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission.

Basis for opinion

We conducted our audits in accordance with the Regulations Governing Financial Statement Audit and Attestation Engagements of Certified Public Accountants and Standards on Auditing of the Republic of China. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the Norm of Professional Ethics for Certified Public Accountant of the Republic of China, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Group’s 2025 consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and, in forming our opinion thereon, we do not provide a separate opinion on these matters.

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Key audit matter for the Group’s 2025 consolidated financial statements is stated as follows:

Key audit matter: Accuracy of construction revenue

Description

Refer to Notes 4(26), 5(2) and 6(17) for the accounting policies, accounting estimates and details related to the recognition of construction revenue.

The Group is primarily engaged in the planning, design and installation of ultrapure water and wastewater recycling systems. The construction revenue is recognised by reference to the stage of completion of each contract. The stage of completion is estimated based on the actual accumulated construction costs relative to the total estimated costs. Given that the aforementioned total estimated costs involve accounting estimates resulting in uncertainties and the total estimated costs will affect the stage of completion and the recognition of construction revenue, we considered the accuracy of construction revenue as a key audit matter.

How our audit addressed the matter

We performed the following audit procedures on the above key audit matter:

1. Obtained an understanding on the internal control of the assessment of the total estimated costs, sampled and verified the total estimated costs of significant constructions and assessed the consistency between the assessment process and the designed internal control.

2. Sampled and verified the approved total estimated costs for the new significant constructions and the constructions with significant changes in the total estimated costs during the year, including the supporting documents of the modified construction costs during the year.

3. Obtained the details of construction costs during the year, performed relevant substantive procedures, including sampling and verifying the construction costs incurred for the year with relevant evidence, and confirmed whether the costs incurred for the year had been accounted for appropriately, recalculated the stage of completion which is calculated based on the actual accumulated construction costs relative to the total estimated costs and ascertained whether revenue was recognised appropriately based on the stage of completion.

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Other matter - Parent company only financial reports

We have audited and expressed an unqualified opinion on the parent company only financial statements of MEGA UNION TECHNOLOGY INCORPORATED as at and for the years ended December 31, 2025 and 2024.

Responsibilities of management and those charged with governance for the consolidated financial statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Financial Reporting Standards, International Accounting Standards, IFRIC Interpretations, and SIC Interpretations that came into effect as endorsed by the Financial Supervisory Commission, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance, including the audit committee, are responsible for overseeing the Group’s financial reporting process.

Auditors’ responsibilities for the audit of the consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Standards on Auditing of the Republic of China will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the Standards on Auditing of the Republic of China, we exercise professional judgment and professional skepticism throughout the audit. We also:

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1. Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

2. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

4. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Group to cease to continue as a going concern.

5. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

6. Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

TSAI, PEI-HUA[Liao, Fu-Ming ]

For and on Behalf of PricewaterhouseCoopers, Taiwan March 12, 2026

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The accompanying consolidated financial statements are not intended to present the financial position and results of operations and cash flows in accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differ from those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying consolidated financial statements and independent auditors’ report are not intended for use by those who are not informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice.

As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannot accept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Assets	Notes 6(1) 6(3) and 8 6(17) 6(4) 6(4) 6(5) 6(17) 6(2) 6(6) and 8 6(7) 6(21)	December 31, 2025 AMOUNT % $ 6,679,295 43 547,844 4 2,084,532 13 - - 2,734,404 18 6,573 - 755,666 5 264,855 2 36,794 - 13,109,963 85 54,154 - 2,120,811 14 100,101 1 10,251 - 34,132 - 55,178 - 2,374,627 15 $ 15,484,590 100	December 31, 2024	December 31, 2024
		AMOUNT $ 6,679,295 547,844 2,084,532 - 2,734,404 6,573 755,666 264,855 36,794 13,109,963 54,154 2,120,811 100,101 10,251 34,132 55,178 2,374,627 $ 15,484,590	AMOUNT $ 3,058,714 690 1,943,161 3,235 1,837,923 2,663 815,902 187,695 24,050 7,874,033 50,000 1,692,810 68,751 16,090 41,398 10,720 1,879,769 $ 9,753,802	%
Current assets 1100 Cash and cash equivalents 1136 Financial assets at amortised cost - current 1140 Contract assets - current 1150 Notes receivable, net 1170 Accounts receivable, net 1200 Other receivables 130X Inventories 1410 Prepayments 1470 Other current assets 11XX Total current assets Non-current assets 1517 Financial assets at fair value through other comprehensive income - non current 1600 Property, plant and equipment 1755 Right-of-use assets 1780 Intangible assets 1840 Deferred tax assets 1990 Other non-current assets 15XX Total non-current assets 1XXX Total assets				32 - 20 - 19 - 8 2 -
				81
				1 17 1 - - -
				19
				100

(Continued)

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes 6(8) and 8 6(17) 6(9) 6(10) 7 6(11) and 8 6(11) and 8 6(21) 7 6(12) 6(14) 6(15) 6(16) 9 11	December 31, 2025 AMOUNT % $ 932,325 6 1,733,333 11 2,089,798 13 1,388,664 9 417,732 3 394,197 3 54,377 - 2,851 - 8,905 - 7,022,182 45 154,947 1 221,036 2 50,079 - 9,946 - 436,008 3 7,458,190 48 766,879 5 3,132,347 20 403,175 3 - - 3,693,581 24 30,418 - 8,026,400 52 $ 15,484,590 100	December 31, 2024	December 31, 2024
		AMOUNT $ 932,325 1,733,333 2,089,798 1,388,664 417,732 394,197 54,377 2,851 8,905 7,022,182 154,947 221,036 50,079 9,946 436,008 7,458,190 766,879 3,132,347 403,175 - 3,693,581 30,418 8,026,400 $ 15,484,590	AMOUNT $ - 1,494,611 1,551,998 1,035,911 262,284 339,303 23,786 26,380 12,350 4,746,623 394,608 91,439 46,870 4,106 537,023 5,283,646 690,883 971,110 252,010 2,977 2,542,888 10,288 4,470,156 $ 9,753,802	%
Current liabilities 2100 Short-term borrowings 2130 Contract liabilities - current 2170 Accounts payable 2200 Other payables 2230 Current income tax liabilities 2250 Provisions-current 2280 Lease liabilities - current 2320 Long-term borrowings, current portion 2399 Other current liabilities 21XX Total current liabilities Non-current liabilities 2540 Long-term borrowings 2570 Deferred tax liabilities 2580 Lease liabilities - non current 2640 Net defined benefit liability - non- current 25XX Total non-current liabilities 2XXX Total liabilities Equity Share capital 3110 Common share Capital surplus 3200 Capital surplus Retained earnings 3310 Legal reserve 3320 Special reserve 3350 Unappropriated retained earnings Other equity interest 3400 Other equity interest 3XXX Total equity Significant contingent liabilities and unrecognised contract commitments Significant events after the balance sheet date 3X2X Total liabilities and equity				- 15 16 11 3 4 - - -
				49
				4 1 - -
				5
				54
				7 10 3 - 26 -
				46
				100

The accompanying notes are an integral part of these consolidated financial statements.

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except for earnings per share amount)

Items

Years ended December 31, 2025 2024 Notes AMOUNT % AMOUNT % 6(17) $ 16,912,921 100 $ 10,300,194 100 6(5)(10)(20) ( 13,089,530) ( 77) ( 7,951,677) ( 77) 3,823,391 23 2,348,517 23 6(20) ( 650,284) ( 4) ( 365,162) ( 3) ( 70,856) - ( 62,029) ( 1) 6(4)(17) 12,876 - 4,754 - ( 708,264) ( 4) ( 422,437) ( 4) 3,115,127 19 1,926,080 19 6(3) 51,052 - 28,907 - 5,673 - 9,214 - 6(18) 16,940 - 16,740 - 6(19) and 7 ( 33,927) - ( 11,178) - 39,738 - 43,683 - 3,154,865 19 1,969,763 19 6(21) ( 783,340) ( 5) ( 457,675) ( 4) $ 2,371,525 14 $ 1,512,088 15 6(12) ($ 5,409) - ($ 548) - 6(21) 1,082 - 109 - ( 4,327) - ( 439) - 20,130 - 12,257 - 20,130 - 12,257 - $ 15,803 - $ 11,818 - $ 2,387,328 14 $ 1,523,906 15 $ 2,387,328 14 $ 1,523,906 15 6(22) $ 32.29 $ 22.33 6(22) $ 31.44 $ 21.46

4000 Operating revenue 5000 Operating costs 5900 Gross profit Operating expenses 6200 General and administrative expenses 6300 Research and development expenses 6450 Expected credit impairment gain 6000 Total operating expenses 6900 Net operating profit Non-operating income and expenses 7100 Interest income 7010 Other income 7020 Other gains and losses 7050 Finance costs 7000 Total non-operating income and expenses 7900 Profit before income tax 7950 Income tax expense 8200 Profit for the year Other comprehensive income Components of other comprehensive income that will not be reclassified to profit or loss 8311 Losses on remeasurements of defined benefit plans 8349 Income tax related to components of other comprehensive income that will not be reclassified to profit or loss 8310 Other comprehensive loss that will not be reclassified to profit or loss Components of other comprehensive income that will be reclassified to profit or loss 8361 Financial statements translation differences of foreign operations 8360 Other comprehensive income that will be reclassified to profit or loss 8300 Other comprehensive income 8500 Total comprehensive income Total comprehensive income attributable to: 8710 Shareholders of the parent Basic earnings per share (in dollars) 9750 Profit for the year Diluted earnings per share (in dollars) 9850 Profit for the year

The accompanying notes are an integral part of these consolidated financial statements.

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

Equity attributable to owners of the parent

Year ended December 31, 2024 Balance at January 1, 2024 Profit for the year Other comprehensive income (loss) Total comprehensive income Appropriations of 2023 earnings Legal reserve Special reserve Cash dividends Share dividends Compensation costs recognised for employee share options Exercise of employee share options Balance at December 31, 2024 Year ended December 31, 2025 Balance at January 1, 2025 Profit for the year Other comprehensive income (loss) Total comprehensive income Appropriations of 2024 earnings Legal reserve Special reserve Cash dividends Compensation costs recognised for employee share options Issuance of common shares for cash Exercise of employee share options Balance at December 31, 2025	Notes		Common share		Capital Surplus	Capital Surplus	Capital Surplus				Retained Earnings	Retained Earnings		Other Equity Interest		Total equity
					Additional paid-in capital		Employee share options		Legal reserve		Special reserve		Unappropriated retained earnings	Exchange differences on translation of foreign financial statements
	6(16) 6(13) 6(13)(14) 6(16) 6(13) 6(14) 6(13)(14)		$ 615,441 - - - - - - 61,544 - 13,898 $ 690,883 $ 690,883 - - - - - - - 72,200 3,796 $ 766,879		$ 924,980 - - - - - - - - 32,652 $ 957,632 $ 957,632 - - - - - - - 2,099,495 11,008 $ 3,068,135	$ 8,928 - - - - - - - 4,550 - $ 13,478 $ 13,478 - - - - - - 52,682 ( 1,948 ) - $ 64,212			$ 141,788 - - - 110,222 - - - - - $ 252,010 $ 252,010 - - - 151,165 - - - - - $ 403,175	$ - - - - - 2,977 - - - - $ 2,977 $ 2,977 - - - - ( 2,977 ) - - - - $ -		$ 1,698,335 1,512,088 ( 439 ) 1,511,649 ( 110,222 ) ( 2,977 ) ( 492,353 ) ( 61,544 ) - - $ 2,542,888 $ 2,542,888 2,371,525 ( 4,327 ) 2,367,198 ( 151,165 ) 2,977 ( 1,068,317 ) - - - $ 3,693,581		($ 1,969 ) - 12,257 12,257 - - - - - - $ 10,288 $ 10,288 - 20,130 20,130 - - - - - - $ 30,418	$ 3,387,503 1,512,088 11,818 1,523,906 - - ( 492,353 ) - 4,550 46,550 $ 4,470,156 $ 4,470,156 2,371,525 15,803 2,387,328 - - ( 1,068,317 ) 52,682 2,169,747 14,804 $ 8,026,400

The accompanying notes are an integral part of these consolidated financial statements.

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments Adjustments to reconcile profit (loss) Depreciation Amortization Interest expense Expected credit impairment gain Gain on disposal of property, plant and equipment Gain on lease modification Compensation costs of employee share options Interest income Amount of property, plant and equipment transferred to expenses Changes in operating assets and liabilities Changes in operating assets Contract assets - current Notes receivable Accounts receivable Other receivables Inventories Prepayments Other current assets Changes in operating liabilities Contract liabilities - current Accounts payable Other payables Provisions - current Other current liabilities Net defined benefit liabilites Cash inflow generated from operations Interest paid Interest received Income tax paid Net cash flows from operating activities

Years ended December 31, Notes 2025 2024 $ 3,154,865 $ 1,969,763 6(20) 91,545 65,265 6(20) 10,513 11,171 6(19) 33,927 11,178 6(4)(17) ( 12,876 ) ( 4,754 ) 6(18) - ( 467 ) 6(7)(18) ( 7 ) ( 166 ) 6(13) 52,682 4,550 ( 51,052 ) ( 28,907 ) 3,449 27 ( 120,640 ) ( 361,038 ) 3,235 ( 2,129 ) ( 890,353 ) ( 164,682 ) 1,048 5,665 54,938 ( 4,063 ) ( 77,160 ) ( 105,014 ) ( 12,744 ) ( 9,410 ) 238,722 244,464 537,800 204,587 347,806 250,478 54,894 13,777 ( 3,445 ) 6,205 431 359 3,417,578 2,106,859 ( 28,980 ) ( 11,178 ) 46,094 28,508 ( 489,947 ) ( 403,877 ) 2,944,745 1,720,312

(Continued)

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

CASH FLOWS FROM INVESTING ACTIVITIES (Increase) decrease in financial assets at amortised cost - current Acquisition of financial assets at fair value through other comprehensive income Acquisition of property, plant and equipment Proceeds from disposal of property, plant and equipment Acquisition of intangible assets (Increase) decrease in refundable deposits Increase in other non-current assets Capitalised interest paid Net cash flows (used in) from investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term borrowings Proceeds from long-term borrowings Repayment of long-term borrowings Repayment of lease principal Dividends paid Issuance of common shares for cash Employee share options exercised Net cash flows from (used in) financing activities Effects of exchange rate changes Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

Years ended December 31, Notes 2025 2024 ($ 547,154 ) $ 652,977 ( 4,154 ) ( 50,000 ) 6(23) ( 494,661 ) ( 358,432 ) - 600 ( 4,674 ) ( 19,390 ) ( 24,063 ) 8,975 ( 17,824 ) - 6(6)(19) ( 30 ) ( 1,730 ) ( 1,092,560 ) 233,000 6(24) 924,341 - 6(24) 158,500 - 6(24) ( 421,690 ) ( 103,817 ) 6(24) ( 36,882 ) ( 20,247 ) 6(16) ( 1,068,317 ) ( 492,353 ) 6(14) 2,169,747 - 6(14) 14,804 46,550 1,740,503 ( 569,867 ) 27,893 12,234 3,620,581 1,395,679 3,058,714 1,663,035 $ 6,679,295 $ 3,058,714

The accompanying notes are an integral part of these consolidated financial statements.

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

1. HISTORY AND ORGANISATION

• (1) MEGA UNION TECHNOLOGY INCORPORATED (the “Company”) was incorporated in the Republic of China (R.O.C.) in 2005. The Company and its subsidiaries (collectively referred herein as the “Group”) are primarily engaged in the planning, design and installation of ultrapure water and wastewater recycling system.

• (2) The Company’s shares has been listed and traded on the Taiwan Stock Exchange since May 2025.

2. THE DATE OF AUTHORISATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION

These consolidated financial statements were authorised for issuance by the Board of Directors on March 12, 2026.

3. APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS[®] ”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)

New standards, interpretations and amendments endorsed by the FSC and became effective from 2025 are as follows:

2025 are as follows:
New Standards,Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IAS 21, ‘Lack of exchangeability’	January 1, 2025

The above standards and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment.

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(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC

but not yet adopted by the Group

New standards, interpretations and amendments endorsed by the FSC effective from 2026 are as follows:

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Effective date by
International Accounting
New Standards, Interpretations and Amendments Standards Board
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New Standards,Interpretations and Amendments	Standards Board
Amendments to IFRS 9 and IFRS 7, ‘ Amendments to the classification	January 1, 2026
and measurement of financial instruments’
Amendments to IFRS 9 and IFRS 7, ‘Contracts referencing nature –	January 1, 2026
dependent electricity’
IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendments to IFRS 17, ‘Insurance contracts’	January 1, 2023
Amendment to IFRS 17, ‘Initial application of IFRS 17 and IFRS 9 –	January 1, 2023
comparative information’
Annual Improvements to IFRS Accounting Standards—Volume 11	January 1, 2026

Except for the following, the above standards and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment.

Amendments to IFRS 9 and IFRS 7, ‘Amendments to the classification and measurement of financial instruments’

These amendments require an entity to update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI). The entity shall disclose the fair value of each class of investment and is no longer required to disclose the fair value of each investment. In addition, the amendments require the entity to disclose the fair value gain or loss presented in other comprehensive income during the period, showing separately the fair value gain or loss related to investments derecognised during the reporting period and the fair value gain or loss related to investments held at the end of the reporting period; and any transfers of the cumulative gain or loss within equity during the reporting period related to the investments derecognised during that reporting period.

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(3) IFRS Accounting Standards issued by IASB but not yet endorsed by the FSC

New standards, interpretations and amendments issued by IASB but not yet included in the IFRS Accounting Standards as endorsed by the FSC are as follows:

Effective date by International Accounting New Standards, Interpretations and Amendments Standards Board Amendments to IFRS 10 and IAS 28, ‘Sale or contribution of assets To be determined by between an investor and its associate or joint venture’ International Accounting Standards Board IFRS 18, ‘Presentation and disclosure in financial statements’ January 1, 2027 (Note) IFRS 19, ‘Subsidiaries without public accountability: disclosures’ January 1, 2027 Amendments to IAS 21, ‘Translation to a Hyperinflationary January 1, 2027 Presentation Currency’

Note ： The FSC has announced in a press release on September 25, 2025 that public companies will apply IFRS 18 starting from the fiscal year 2028. Additionally, entities can choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses IFRS 18.

Except for the following, the above standar ds and interpretations have no significant impact to the Group’s financial condition and financial performance based on the Group’s assessment. IFRS 18, ‘Presentation and disclosure in financial statements’

IFRS 18, ‘Presentation and disclosure in financial statements’ replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

(1) Compliance statement

The consolidated financial statements of the Group have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers, International Financial Reporting Standards, International Accounting Standards, IFRIC[®] Interpretations, and SIC[®] Interpretations that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”).

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(2) Basis of preparation

• A. Except for the following items, the consolidated financial statements have been prepared under the historical cost convention:

• (a) Financial assets at fair value through other comprehensive income.

• (b) Defined benefit liabilities recognised based on the net amount of pension fund assets less present value of defined benefit obligation.

• B. The preparation of the consolidated financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 5.

(3) Basis of consolidation

• A. Basis for preparation of consolidated financial statements:

• (a) All subsidiaries are included in the Group’s consolidated financial statements. Subsidiaries are all entities (including structured entities) controlled by the Group. The Group controls an entity when the Group is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Consolidation of subsidiaries begins from the date the Group obtains control of the subsidiaries and ceases when the Group loses control of the subsidiaries.

• (b) Inter-company transactions, balances and unrealised gains or losses on transactions between companies within the Group are eliminated. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Group.

• (c) Profit or loss and each component of other comprehensive income are attributed to the owners of the parent and to the non-controlling interests. Total comprehensive income is attributed to the owners of the parent and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.

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B. Subsidiaries included in the consolidated financial statements:

Name of investor	Name of subsidiary	Main business activities	Ownership (%)	Ownership (%)	Description
			December 31,2025	December 31,2024
MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED Mega Union Technology Global Inc. Mega Union Technology Worldwide Inc.	Mega Union Technology Global Inc. Mega Union Technology Worldwide Inc. Mega Union Technical Services Inc. Mega Union Technology Global Private Limited Muaqua Engineering Inc. Shanghai Megaunion Environmental Technology Co., Ltd. Megaunion Environmental Technology (Nanjing) Co., Ltd.	General investments holding General investments holding Operating business Ultrapure water and wastewater construction contracting services Ultrapure water and wastewater construction contracting services Ultrapure water and wastewater construction contracting services Ultrapure water and wastewater construction contracting services	100 100 100 100 100 100 100	100 100 100 100 100 100 100	- - - - Note 1 - Note 2

Note 1: Muaqua Engineering Inc. was established in June 2024, and the Company invested in the entity in August 2024.

Note 2: Kunshan Megaunion Equipment Installation Co., Ltd. has been renamed to Megaunion Environmental Technology (Nanjing) Co., Ltd. on February 29, 2024.

• C. Subsidiaries not included in the consolidated financial statements: None.

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• D. Adjustments for subsidiaries with different balance sheet dates: None.

• E. Significant restrictions: None.

• F. Subsidiaries that have non-controlling interests that are material to the Group: None.

(4) Foreign currency translation

Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in New Taiwan dollars, which is the Company’s functional and the Group’s presentation currency.

• A. Foreign currency transactions and balances

• (a) Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions are recognised in profit or loss in the period in which they arise.

• (b) Monetary assets and liabilities denominated in foreign currencies at the period end are retranslated at the exchange rates prevailing at the balance sheet date. Exchange differences arising upon re-translation at the balance sheet date are recognised in profit or loss.

• (c) All other foreign exchange gains and losses are presented in the statement of comprehensive income within ‘other gains and losses’.

• B. Translation of foreign operations

The operating results and financial position of all the group entities and associates that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

• (a) Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;

• (b) Income and expenses for each statement of comprehensive income are translated at average exchange rates of that period; and

• (c) All resulting exchange differences are recognised in other comprehensive income.

(5) Classification of current and non-current items

• A. As the operating cycle for construction contracts usually exceeds one year, the Group uses the operating cycle as its criteria for classifying current or non-current assets and liabilities related to construction contracts. For the other assets and liabilities, the criterion is one year.

• B. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:

• (a) Assets arising from operating activities that are expected to be realised, or are intended to be sold or consumed within the normal operating cycle;

• (b) Assets held mainly for trading purposes;

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• (c) Assets that are expected to be realised within twelve months from the balance sheet date;

• (d) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to settle liabilities more than twelve months after the balance sheet date.

• C. Liabilities that meet one of the following criteria are classified as current liabilities; otherwise they are classified as non-current liabilities:

• (a) Liabilities that are expected to be settled within the normal operating cycle;

• (b) Liabilities arising mainly from trading activities;

• (c) Liabilities that are to be settled within twelve months from the balance sheet date;

• (d) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

(6) Cash equivalents

Cash equivalents refer to short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Time deposits that meet the definition above and are held for the purpose of meeting short-term cash commitments in operations are classified as cash equivalents.

(7) Financial assets at fair value through other comprehensive income

• A. Financial assets at fair value through other comprehensive income comprise equity securities which are not held for trading, and for which the Group has made an irrevocable election at initial recognition to recognise changes in fair value in other comprehensive income.

• B. On a regular way purchase or sale basis, financial assets at fair value through other comprehensive income are recognised and derecognised using trade date accounting.

• C. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. The Group subsequently measures the financial assets at fair value. The changes in fair value of equity investments that were recognised in other comprehensive income are reclassified to retained earnings and are not reclassified to profit or loss following the derecognition of the investment. Dividends are recognised as revenue when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.

(8) Financial assets at amortised cost

• A. Financial assets at amortised cost are those that meet all of the following criteria:

• (a) The objective of the Group’s business model is achieved by collecting contractual cash flows.

• (b) The assets’ contractual cash flows represent solely payments of principal and interest.

• B. On a regular way purchase or sale basis, financial assets at amortised cost are recognised and derecognised using trade date accounting.

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• C. At initial recognition, the Group measures the financial assets at fair value plus transaction costs. Interest income from these financial assets is included in finance income using the effective interest method. A gain or loss is recognised in profit or loss when the asset is derecognised or impaired.

• D. The Group’s time deposits which do not fall under cash equivalents are those with a short maturity period and are measured at initial investment amount as the effect of discounting is immaterial.

(9) Accounts and notes receivable

• A. Accounts and notes receivable entitle the Group a legal right to receive consideration in exchange for transferred goods or rendered services.

• B. The short-term accounts and notes receivable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(10) Impairment of financial assets

For financial assets at amortised cost including accounts receivable, notes receivable or contract assets that have a significant financing component, at each reporting date, the Group recognises the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognises the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable, notes receivable or contract assets that do not contain a significant financing component, the Group recognises the impairment provision for lifetime ECLs.

(11) Derecognition of financial assets

The Group derecognises a financial asset when the contractual rights to receive the cash flows from the financial asset expire.

(12) Inventories

Inventories are stated at the lower of cost and net realisable value. Cost is determined using the weighted-average method. The item by item approach is used in applying the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale.

(13) Property, plant and equipment

• A. Property, plant and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalised.

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• B. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

• C. Land is not depreciated. Other property, plant and equipment apply cost model and are depreciated using the straight-line method to allocate their cost over their estimated useful lives. Each part of an item of property, plant, and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately.

• D. The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each financial year-end. If expectations for the assets’ residual values and useful lives differ from previous estimates or the patterns of consumption of the assets’ future economic benefits embodied in the assets have changed significantly, any change is accounted for as a change in estimate under IAS 8, ‘Accounting Policies, Changes in Accounting Estimates and Errors’, from the date of the change. The estimated useful lives of property, plant and equipment are as follows:

Buildings and structures 5 ~ 50 years Machinery and equipment 3 ~ 15 years Office equipment 3 ~ 10 years Leasehold improvements 3 ~ 7 years Transportation and other equipment 2 ~ 10 years

(14) Leasing arrangements (lessee) - right-of-use assets/lease liabilities

• A. Leases are recognised as a right-of-use asset and a corresponding lease liability at the date at which the leased asset is available for use by the Group. For short-term leases or leases of lowvalue assets, lease payments are recognised as an expense on a straight-line basis over the lease term.

• B. Lease liabilities include the net present value of the remaining lease payments at the commencement date, discounted using the incremental borrowing interest rate. Lease payments are comprised of fixed payments, less any lease incentives receivable.

• The Group subsequently measures the lease liability at amortised cost using the interest method and recognises interest expense over the lease term. The lease liability is remeasured and the amount of remeasurement is recognised as an adjustment to the right-of-use asset when there are changes in the lease term or lease payments and such changes do not arise from contract modifications.

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• C. At the commencement date, the right-of-use asset is stated at cost comprising the amount of the initial measurement of lease liability.

• The right-of-use asset is measured subsequently using the cost model and is depreciated from the commencement date to the earlier of the end of the asset’s useful life or the end of the lease term. When the lease liability is remeasured, the amount of remeasurement is recognised as an adjustment to the right-of-use asset.

• D. For lease modifications that decrease the scope of the lease, the lessee shall decrease the carrying amount of the right-of-use asset and remeasure the lease liability to reflect the partial or full termination of the lease, and recognise the difference in profit or loss. For all other lease modifications, the lessee shall remeasure the lease liability and adjust the right-of-use asset, correspondingly.

(15) Intangible assets

Computer software is stated at cost and amortised on a straight-line basis over its estimated useful life of 1 to 5 years.

(16) Impairment of non-financial assets

The Group assesses at each balance sheet date the recoverable amounts of those assets where there is an indication that they are impaired. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell or value in use. When the circumstances or reasons for recognising impairment loss for an asset in prior years no longer exist or diminish, the impairment loss is reversed. The increased carrying amount due to reversal should not be more than what the depreciated or amortised historical cost would have been if the impairment had not been recognised.

(17) Borrowings

Borrowings comprise long-term and short-term bank borrowings. Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method.

(18) Accounts payable

• A. Accounts payable are liabilities for purchases of raw materials, goods or services.

• B. The short-term accounts payable without bearing interest are subsequently measured at initial invoice amount as the effect of discounting is immaterial.

(19) Derecognition of financial liabilities

A financial liability is derecognised when the obligation specified in the contract is either discharged or cancelled or expires.

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(20) Provisions for liabilities

Provisions (including warranties, onerous contracts and pending lawsuit) are recognised when the Group has a present legal or constructive obligation as a result of past events, and it is probable that an outflow of economic resources will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation on the balance sheet date. Provisions are not recognised for future operating losses.

(21) Employee benefits

• A. Short-term employee benefits

Short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period and should be recognised as expense in that period when the employees render service.

• B. Pensions

• (a) Defined contribution plans

For defined contribution plans, the contributions are recognised as pension expense when they are due on an accrual basis. Prepaid contributions are recognised as an asset to the extent of a cash refund or a reduction in the future payments.

• (b) Defined benefit plans

  • i. Net obligation under a defined benefit plan is defined as the present value of an amount of pension benefits that employees will receive on retirement for their services with the Group in current period or prior periods. The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. The net defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The rate used to discount is determined by using interest rates of government bonds of a currency and term consistent with the currency and term of the employment benefit obligations.

  • ii. Remeasurements arising on defined benefit plans are recognised in other comprehensive income in the period in which they arise and are recorded as retained earnings.

  • iii. Past service costs are recognised immediately in profit or loss.

• C. Employees’ compensation and directors’ remuneration

Employees’ compensation and directors’ remuneration are recognised as expense and liability, provided that such recognition is required under legal or constructive obligation and those amounts can be reliably estimated. Any difference between the resolved amounts and the subsequently actual distributed amounts is accounted for as changes in estimates.

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- (22) Employee share based payment

• A. For the equity-settled share-based payment arrangements, the employee services received are measured at the fair value of the equity instruments granted at the grant date, and are recognised as compensation cost over the vesting period, with a corresponding adjustment to equity. The fair value of the equity instruments granted shall reflect the impact of market vesting conditions and non-vesting conditions. Compensation cost is subject to adjustment based on the service conditions that are expected to be satisfied and the estimates of the number of equity instruments that are expected to vest under the non-market vesting conditions at each balance sheet date. Ultimately, the amount of compensation cost recognised is based on the number of equity instruments that eventually vest.

• B. The share-based payment grant date is the date that the Group and employees reached a consensus on the terms and provisions of share-based payment arrangements.

(23) Income tax

• A. The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or items recognised directly in equity, in which cases the tax is recognised in other comprehensive income or equity.

• B. The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in accordance with applicable tax regulations. It establishes provisions where appropriate based on the amounts expected to be paid to the tax authorities. An additional tax is levied on the unappropriated retained earnings and is recorded as income tax expense in the year the stockholders resolve to retain the earnings.

• C. Deferred tax is recognised, using the balance sheet liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated balance sheet. However, the deferred tax is not accounted for if it arises from initial recognition of goodwill or of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. Deferred tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled.

• D. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. At each balance sheet date, unrecognised and recognised deferred tax assets are reassessed.

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(24) Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or stock options are shown in equity as a deduction, net of tax, from the proceeds.

(25) Dividends

Dividends are recorded in the Company’s financial statements in the period in which they are resolved by the Company’s shareholders. Cash dividends are recorded as liabilities; stock dividends are recorded as stock dividends to be distributed and are reclassified to ordinary shares on the effective date of new shares issuance.

(26) Revenue recognition

• A. Construction revenue recognition

• (a) The Group provides related services in relation to the planning, design, construction and installation of ultrapure water and wastewater recycling system. Revenue is recognised in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided. This is determined based on the actual costs incurred relative to the total estimated costs. The customer pays at the time specified in the payment schedule. If the services rendered exceed the payment, a contract asset is recognised. If the payments exceed the services rendered, a contract liability is recognised.

• (b) Some contracts include sales and installation services of equipment. The equipment and the installation services provided by the Group are not distinct and are identified to be one performance obligation satisfied over time since the installation services involve significant customisation and modification. The Group recognises revenue on the basis of costs incurred relative to the total estimated costs of that performance obligation.

• (c) The Group’s estimate about revenue, costs and progress towards complete satisfaction of a performance obligation is subject to a revision whenever there is a change in circumstances. Any increase or decrease in revenue or costs due to an estimate revision is reflected in profit or loss during the period when the management become aware of the changes in circumstances.

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B. Other operating revenue

• (a) The Group derives other operating revenue from providing maintenance services of ultrapure water and wastewater recycling system and sales of relevant consumables and chemicals. Sales are recognised when control of the products has transferred, being when the products are delivered to the buyer, the buyer has full discretion over the channel and price to sell the products, and there is no unfulfilled obligation that could affect the buyer’s acceptance of the products. Delivery occurs when the products have been shipped to the specific location, the risks of obsolescence and loss have been transferred to the buyer, and either the buyer has accepted the products in accordance with the sales contract, or the Group has objective evidence that all criteria for acceptance have been satisfied.

• (b) A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

(27) Government grants

Government grants are recognised at their fair value only when there is reasonable assurance that the Group will comply with any conditions attached to the grants and the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises expenses for the related costs for which the grants are intended to compensate.

(28) Operating segments

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The Group’s chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Board of Directors that makes strategic decisions.

5. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

The preparation of these consolidated financial statements requires management to make critical judgements in applying the Group’s accounting policies and make critical assumptions and estimates concerning future events. Assumptions and estimates may differ from the actual results and are continually evaluated and adjusted based on historical experience and other factors. Such assumptions and estimates have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year; and the related information is addressed below:

(1) Critical judgements in applying the Group’s accounting policies

None.

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(2) Critical accounting estimates and assumptions

Construction revenue recognition

The Group’s revenue recognition is based on the percentage of input cost relative to the estimate cost at completion. The estimation of the cost of completion involves accounting estimates, resulting in uncertainty. The Group regularly reviews the reasonableness of the estimates, which may cause changes in the estimated total cost of completion, and affect the amount recognised by the Group.

1. DETAILS OF SIGNIFICANT ACCOUNTS

2. (1) Cash and cash equivalents

TAILS OF SIGNIFICANT ACCOUNTS Cash and cash equivalents
Cash on hand and revolving funds Checking accounts and demand deposits Time deposits Bills and bonds under repurchase agreements	December 31, 2025 5,703 $ 2,609,007 3,564,585 500,000 6,679,295 $	December 31, 2024
		2,311 $ 2,194,549 861,854 -
		3,058,714 $

• A. The Group transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.

• B. Cash and cash equivalents were classified as financial assets at amortised cost as they were pledged to others as collateral and were restricted due to lawsuit. Refer to Notes 6(3) and 8 for details.

(2) Financial assets at fair value through other comprehensive income

Items Non-current items: Equity instruments Unlisted shares Valuation adjustment	December31,2025 $ 54,154 - 54,154 $	December31,2024
		$ 50,000 -
		50,000 $

• A. The Group has elected to classify equity investments that are considered to be strategic investments as financial assets at fair value through other comprehensive income.

• B. For the years ended December 31, 2025 and 2024, no amount was recognised in profit or loss and other comprehensive income in relation to the financial assets at fair value through other comprehensive income.

• C. The Group had no financial assets at fair value through other comprehensive income pledged to others as collateral.

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(3) Financial assets at amortised cost

Items	December	31,2025	December31,2024	December31,2024
Current items:
Restricted time deposits	$	100,000	$	690
Restricted demand deposits		447,844		-
	$	547,844	$	690

• A. Amounts recognised in profit or loss in relation to financial assets at amortised cost are listed below:

Interest income	2025 2024 693 $ 282 $ For the years endedDecember31,

• B. As at December 31, 2025 and 2024, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the financial assets at amortised cost held by the Group was equivalent to the book value.

• C. Details of the Group’s financial assets at amortised cost pledged to others as collateral are provided in Note 8.

(4) Notes and accounts receivable

Notes receivable Accounts receivable Less: Allowance for uncollectible accounts	December 31, 2025 - $ 2,747,833 $ 13,429) ( ( 2,734,404 $	December 31, 2024 3,235 $ 1,857,835 $ 19,912) 1,837,923 $
	$
	$ (
	$

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A. The ageing analysis of notes and accounts receivable is as follows:

Not past due Up to 30 days 31 to 60 days 61 to 90 days 91 to 120 days 121 days to 1 year Over one year	Accounts receivable 2,484,564 $ 121,272 20,258 773 98,051 12,163 10,752 2,747,833 $ December	Notes receivable - $ - - - - - - - $ 31,2025	Accounts Notes receivable receivable 1,710,194 $ 3,235 $ 34,389 - 773 - 432 - 734 - 31,754 - 79,559 - 1,857,835 $ 3,235 $ December31,2024

The above aging analysis was based on past due date.

• B. As of December 31, 2025 and 2024, notes and accounts receivable were all from contracts with customers. As of January 1, 2024, the balance of receivables from contracts with customers amounted to $1,694,259.

• C. As at December 31, 2025 and 2024, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the Group’s notes receivable and accounts receivable was equivalent to the book value.

• D. The Group classifies accounts receivable in accordance with credit rating of customer. The Group applies the simplified approach using a provision matrix to estimate the expected credit loss.

• E. The Group used the forecastability to adjust historical and timely information to assess the default possibility of notes and accounts receivable. However, the expected loss rates of the Group’s notes receivable were all immaterial on December 31, 2025 and 2024; and the Group had no notes receivable that were past due as of December 31, 2025 and 2024.

• F. On December 31, 2025 and 2024, the provision matrix of accounts receivable is as follows:

Expected credit loss rate Total book value Loss allowance Expected credit loss rate Total book value Loss allowance December 31, 2025 December 31, 2024	Not past due 0.03% 2,324,825 $ 697) ($ 0.03% 1,707,517 $ 510) ($	Up to 90 days past due	91~120 days past due	121 days~ 1 year past due	Over 1 year past due	Individually assessed customers 0.00%~ 2.35% 275,265 $ 1,354) ($ 0.00%~ 12.07% 104,552 $ 9,201) ($	Total
		0.03%~ 9.15% 134,869 $ 377) ($ 0.03%~ 33.22% 35,373 $ 82) ($	7.00%~ 21.84% - $ - $ 7.00%~ 76.01% 323 $ 49) ($	15.00%~ 27.21% 2,573 $ 700) ($ 29.93%~ 90.00% - $ - $	100% 10,301 $ 10,301) ($ 100% 10,070 $ 10,070) ($		2,747,833 $
							13,429) ($
							1,857,835 $
							19,912) ($

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G. The movements of the loss allowance of accounts receivable are as follows:

			2025		2024
Balance at January 1		$	19,912		31,363 $
Reversal of impairment loss	(		5,961)	(	11,526)
Actual amounts written off	(		355)		-
Net exchange differences	(		167)		75
Balance at December 31		$	13,429		19,912 $

(5) Inventories

Merchandise inventory Less: Allowance for valuation loss (	December31,2025 December31,2024 817,964 $ 881,145 $ 62,298) 65,243) ( 755,666 $ 815,902 $

The cost of inventories recognised as expense for the year:

Cost of goods sold and cost of construction Estimated warranties and onerous contracts provisions Loss on write-off inventories (Gain on reversal of ) loss on decline in market value (	For the years ended December 31,
	2025 2024 12,983,471 $ 7,820,376 $ 89,517 116,935 19,487 628 2,945) 13,738 13,089,530 $ 7,951,677 $

The Group reversed a previous inventory write-down because some inventories which were previously provided with allowance for valuation loss were subsequently sold during the year ended December 31, 2025.

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(6) Property, plant and equipment

																								Unfinished
																						construction and
						Buildings													Transportation					equipment
							and		Machinery and					Office				Leasehold			and other			under
			Land			structures				equipment		equipment				improvements					equipment			acceptance			Total
Balance at January 1, 2025
Cost	$		1,008,551		$		367,467		$	183,402		$		24,206		$		4,924		$	28,898	$		289,053	$		1,906,501
Accumulated depreciation			-		(		76,578)		(	49,528)		(		15,639)		(		2,617)	(		10,744)			-	(		155,106)
Accumulated impairment			-				-		(	58,585)				-				-			-			-	(		58,585)
	$		1,008,551		$		290,889		$	75,289		$		8,567		$		2,307		$	18,154	$		289,053	$		1,692,810
Balance at January 1, 2025	$		1,008,551		$		290,889		$	75,289		$		8,567		$		2,307		$	18,154	$		289,053	$		1,692,810
Additions			-				650			15,998				5,453				-			27,147			448,170			497,418
Reclassifications			-				-		(	2,113)				-				-	(		11,705)	(		3,449)	(		17,267)
Transfers			505,836				155,663			39,206				-				-			2,624	(		703,329)			-
Depreciation charge			-		(		15,855)		(	22,517)		(		4,106)		(		976)	(		8,711)			-	(		52,165)
Net exchange differences			-				-		(	3)				-				4			14			-			15
Balance at December 31, 2025	$		1,514,387		$		431,347		$	105,860		$		9,914		$		1,335		$	27,523	$		30,445	$		2,120,811
Balance at December 31, 2025
Cost	$		1,514,387		$		523,780		$	224,969		$		24,726		$		4,732		$	44,058	$		30,445	$		2,367,097
Accumulated depreciation			-		(		92,433)		(	60,524)		(		14,812)		(		3,397)	(		16,535)			-	(		187,701)
Accumulated impairment			-				-		(	58,585)				-				-			-			-	(		58,585)
	$		1,514,387		$		431,347		$	105,860		$		9,914		$		1,335		$	27,523	$		30,445	$		2,120,811
																								Unfinished
																							construction and
						Buildings													Transportation					equipment
							and	Machinery and					Office				Leasehold				and other			under
			Land			structures			equipment		equipment					improvements					equipment			acceptance			Total
Balance at January 1, 2024
Cost	$		939,222	$			262,665	$		159,292	$			32,972	$			10,259	$		47,482		$	172,436		1,624,328 $
Accumulated depreciation			-	(			70,271)	(		69,857)	(			24,760)	(			6,676)	(		23,332)			-		(	194,896)
Accumulated impairment			-				-	(		58,585)				-				-			-			-		(	58,585)
	$		939,222	$			192,394	$		30,850	$			8,212	$			3,583	$		24,150		$	172,436		1,370,847 $
Balance at January 1, 2024	$		939,222	$			192,394	$		30,850	$			8,212	$			3,583	$		24,150		$	172,436		1,370,847 $
Additions			66,227				3,922			10,389				4,688				-			2,082			277,688			364,996
Reclassifications			-				-			-				-				-	(		27)			-		(	27)
Transfers			3,102				104,378			52,162				-				-			1,429		(	161,071)			-
Disposals			-				-	(		133)				-				-			-			-		(	133)
Depreciation charge			-	(			9,805)	(		18,009)	(			4,333)	(			1,295)	(		9,549)			-		(	42,991)
Net exchange differences			-				-			30				-				19			69			-			118
Balance at December 31, 2024	$	1,008,551		$			290,889	$		75,289	$			8,567	$			2,307	$		18,154		$	289,053		1,692,810 $
Balance at December 31, 2024
Cost	$	1,008,551		$			367,467	$		183,402	$			24,206	$			4,924	$		28,898		$	289,053		1,906,501 $
Accumulated depreciation			-	(			76,578)	(		49,528)	(			15,639)	(			2,617)	(		10,744)			-		(	155,106)
Accumulated impairment			-				-	(		58,585)				-				-			-			-		(	58,585)
	$	1,008,551		$			290,889	$		75,289	$			8,567	$			2,307	$		18,154		$	289,053		1,692,810 $

~31~

• A. Amount of borrowing costs capitalised as part of property, plant and equipment and the range of the interest rates for such capitalisation are as follows:

	For the	years ended December 31,
	2025	2024
Amount capitalised	$	30 $ 1,730
Range of the interest rates for capitalisation		2.340% 2.150%~2.275%

• B. Information about the property, plant and equipment that were pledged to others as collateral is provided in Note 8.

(7) Leasing arrangements - lessee

• A. The Group leases various assets including plants, offices, warehouses and business vehicles. Rental contracts are typically made for periods of 2 to 6 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

• B. Short-term leases with a lease term of 12 months or less comprise employees’ dormitories, warehouses and equipment.

• C. The carrying amount of right-of-use assets and the depreciation charge are as follows:

Buildings and structures Transportation equipment (Business vehicles) Buildings and structures Transportation equipment (Business vehicles)	December31,2025 December31,2024 Carryingamount Carryingamount 93,299 $ 62,441 $ 6,802 6,310 100,101 $ 68,751 $ For the years ended December 31,	December31,2024
		Carryingamount
		62,441 $ 6,310
		68,751 $
	2025 Depreciationcharge 34,672 $ 4,708 39,380 $	2024
		Depreciationcharge
		18,127 $ 4,147
		22,274 $

• D. The movements of right-of-use assets of the Group during 2025 and 2024 are as follows:

						2025
			Buildings and			Transportation
			structures			equipment			Total
Balance at January 1		$	62,441		$	6,310		$	68,751
Additions			66,601			5,270			71,871
Depreciation charge	(		34,672)	(		4,708)	(		39,380)
Lease modification			-	(		106)	(		106)
Net exchange differences	(		1,071)			36	(		1,035)
Balance at December 31		$	93,299		$	6,802		$	100,101

~32~

					2024
			Buildings and		Transportation
			structures		equipment		Total
Balance at January 1		$	14,411	$	6,710	$	21,121
Additions			65,940		4,087		70,027
Depreciation charge	(		18,127)	(	4,147)	(	22,274)
Lease modification	(		581)	(	409)	(	990)
Net exchange differences			798		69		867
Balance at December 31		$	62,441	$	6,310	$	68,751

• E. The information on profit and loss accounts relating to lease contracts is as follows:

Items affecting profit or loss Interest expense on lease liabilities Expense on short-term lease contracts Expense on variable lease payments Gain on lease modification	For the years endedDecember31,	For the years endedDecember31,
	2025 3,740 $ 27,550 44,955 7	2024
		1,227 $ 18,486 28,212 166

F. For the years ended December 31, 2025 and 2024, the Group’s total cash outflow for leases was $113,127 and $68,172, respectively.

(8) Short-term borrowings

hort-term borrowings
Type of borrowings Bank secured borrowings (Note 1) Bank unsecured borrowings (Note 1)	December31,2025 Interest rate range 610,711 4.20%～5.28% 321,614 4.74%～5.25% 932,325 $	Collateral
		Note 2 None

As of December 31, 2024, the Group had no short-term borrowings.

Note 1: Information about the endorsements and guarantees is provided in Note 7(3)B.

Note 2: Information about the collateral is provided in Note 8.

(9) Other payables

Bonuses and compensation payable Wages and salaries payable Business tax payable Others	December31,2025 1,227,519 $ 69,841 29,851 61,453 1,388,664 $	December 31, 2024
		864,680 $ 58,669 59,801 52,761
		1,035,911 $

~33~

(10) Provisions

2025

						Onerous
			Warranty			contracts	Pending	lawsuit			Total
At January 1		$	336,315		$	2,988	$	-		$	339,303
Additional provisions			155,201			1,660		17,151			174,012
Used during the year	(		53,721)			-		-	(		53,721)
Unused amounts
reversed	(		67,344)			-		-	(		67,344)
Exchange differences			1,267			-		680			1,947
At December 31		$	371,718		$	4,648	$	17,831		$	394,197
						2024
						Onerous
			Warranty			contracts	Pending	lawsuit			Total
At January 1		$	277,048		$	48,478	$	-		$	325,526
Additional provisions			171,669			-		-			171,669
Used during the year	(		71,593)	(		33,104)		-	(		104,697)
Unused amounts	(		41,371)	(		13,363)		-	(		54,734)
reversed
Exchange differences			562			977		-			1,539
At December 31		$	336,315		$	2,988	$	-		$	339,303

A. Warranty

The Group provides warranties on selling constructions. Provision for warranty is estimated based on historical actual warranty rate of construction.

B. Onerous contracts

The Group’s provisions for the onerous contracts mainly refer to the difference of the cost of fulfilling a non-cancellable onerous contract less the consideration that will be received for fulfilling the contract.

C. Outstanding lawsuit

The supplier of the Group filed a lawsuit with the People’s Court of Bao’an District, Shenzhen against the subsidiary of the Group due to the construction subcontract in April 2025. The Group assessed and recognised related losses and provisions amounting to $17,151, which was recorded in ‘operating costs’. Please refer to Note 9 for the relevant details of pending lawsuit.

~34~

- (11) Long term borrowings

Type of borrowings Borrowing period and repayment term Secured borrowings (Note 2): First Commercial Bank 2025/09/26~2040/09/26 The principal and interest are payable monthly. Land Bank of Taiwan 2025/10/1~130/10/1 The interest is payable monthly, and the principal is payable monthly starting from the fourth year. Type of borrowings Borrowing period and repayment term Secured borrowings (Note 2): First Commercial Bank 2014/11/28~2029/11/28 The principal and interest are payable monthly. (Note 3) Land Bank of Taiwan 2021/12/14~2041/12/14 The interest is payable monthly, and the principal is payable monthly starting from the second year. (Note 4) Less: Current portion Less: Current portion	Interest rate	Collateral		December 31, 2025
	2.25% 2.28% Interest rate	Note 1 〝 Collateral	49,298 $ 108,500 157,798 2,851) ( 154,947 $ December 31, 2024 40,985 $ 380,003 420,988 26,380) ( 394,608 $
	2.48% 2.33%	Note 1 〝

• Note 1: Certain property, plant and equipment were pledged as collateral. Refer to Note 8.

• Note 2: Information about the endorsements and guarantees is provided in Note 7(3)B.

• Note 3: In August 2025, the Group’s secured borrowings of First Commercial Bank were settled in advance.

• Note 4: In December 2025, the Group’s secured borrowings of Land Bank of Taiwan were settled in advance.

~35~

(12) Pensions

• A. (a) The Company has a defined benefit pension plan in accordance with the Labor Standards Act, covering all regular employees’ service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Labor Standards Act. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 6 months prior to retirement. The Company contributes monthly an amount equal to 2% of the employees’ monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the independent retirement fund committee. Also, the Company would assess the balance in the aforementioned labor pension reserve account by December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method to the employees expected to qualify for retirement in the following year, the Company will make contributions for the deficit by next March.

• (b) The amounts recognised in the balance sheet are as follows:

December31,2025 Present value of defined benefit obligations 10,381 $ Fair value of plan assets 435) ( ( Net defined benefit liability 9,946 $	December31,2024 4,440 $ 334) 4,106 $

~36~

(c) Movements in net defined benefit liabilities are as follows:

					2025
		Present value of
			defined benefit		Fair value of	Net		defined benefit
			obligations		plan assets			liability
Balance at January 1		$	4,440	($	334)		$	4,106
Current service cost			434		-			434
Interest expense (income)			78	(	6)			72
			4,952	(	340)			4,612
Remeasurements:
Return on plan assets (Note)			-	(	20)	(		20)
Change in demographic
assumptions	(		218)		-	(		218)
Change in financial
assumptions			416		-			416
Experience adjustments			5,231		-			5,231
			5,429	(	20)			5,409
Pension fund contribution			-	(	75)	(		75)
Balance at December 31		$	10,381	($	435)		$	9,946
					2024
		Present value of
			defined benefit		Fair value of	Net		defined benefit
			obligations		plan assets			liability
Balance at January 1		$	3,450	($	251)		$	3,199
Current service cost			372		-			372
Interest expense (income)			50	(	4)			46
			3,872	(	255)			3,617
Remeasurements:
Return on plan assets (Note)			-	(	20)	(		20)
Change in demographic			41		-			41
assumptions
Change in financial	(		276)		-	(		276)
assumptions
Experience adjustments			803		-			803
			568	(	20)			548
Pension fund contribution			-	(	59)	(		59)
Balance at December 31		$	4,440	($	334)		$	4,106

Note: Excluding amounts included in interest income or expense.

~37~

• (d) The Bank of Taiwan was commissioned to manage the Fund of the Company's defined benefit pension plan in accordance with the Fund’s annual investment and utilization plan and the “Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund” (Article 6: The scope of utilization for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, overthe-counter, or private placement equity securities, investment in domestic or foreign real estate securitization products, etc.). With regard to the utilization of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after being authorised by the Regulator. The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan assets fair value in accordance with IAS 19 paragraph 142. The composition of fair value of plan assets as of December 31, 2025 and 2024 is given in the Annual Labor Retirement Fund Utilization Report announced by the government.

• (e) The principal actuarial assumptions used were as follows:

Discount rate Future salary increases rate	For the years ended December 31,	For the years ended December 31,
	2025 1.55% 2.00%	2024
		1.75%
		2.00%

Future mortality rate was estimated based on the 6th Taiwan Standard Ordinary Experience Mortality Table.

Because the main actuarial assumption changed, the present value of defined benefit obligation is affected. The analysis was as follows:

December 31, 2025 Effect on present value of defined benefit obligation ( December 31, 2024 Effect on present value of defined benefit obligation (	Increase Decrease 0.25% 0.25% 506) $ 536 $ Increase Decrease 0.25% 0.25% 218) $ 231 $ Discount rate Discount rate	Increase Decrease 0.25% 0.25% 532 $ 505) ($ Increase Decrease 0.25% 0.25% 230 $ 218 $ Future salaryincreases Future salaryincreases
	Increase 0.25% 218) $	Increase 0.25% 230 $

~38~

The sensitivity analysis above is based on one assumption which changed while the other conditions remain unchanged. In practice, more than one assumption may change all at once. The method of analysing sensitivity and the method of calculating net pension liability in the balance sheet are the same.

The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the previous period.

• (f) Expected contributions to the defined benefit pension plans of the Group for the year ending December 31, 2026 amount to $151.

• (g) As of December 31, 2025, the weighted average duration of the retirement plan is 20 years. The analysis of timing of the future pension payment was as follows:

Within 1 year	$	-
1-2 year(s)		-
2-5 years		-
Over 5 years		14,250
	$	14,250

• B. (a) Effective July 1, 2005, the Company and its domestic subsidiaries have established a defined contribution pension plan (the “New Plan”) under the Labor Pension Act (the “Act”), covering all regular employees with R.O.C. nationality. Under the New Plan, the Company and its domestic subsidiaries contribute monthly an amount based on 6% of the employees’ monthly salaries and wages to the employees’ individual pension accounts at the Bureau of Labor Insurance. The benefits accrued are paid monthly or in lump sum upon termination of employment.

• (b) The Group’s mainland China subsidiaries have a defined contribution plan. Monthly contributions to an independent fund administered by the government in accordance with the pension regulations in the People’s Republic of China (PRC) are based on certain percentage of employees’ monthly salaries and wages. Other than the monthly contributions, the Group has no further obligations.

• (c) Other overseas companies have defined contribution plans in accordance with the local regulations. Other than the periodic contribution, the overseas companies have no further obligations.

• (d) The pension costs under the defined contribution pension plans of the Group for the years ended December 31, 2025 and 2024 were $43,101 and $35,923, respectively.

~39~

(13) Share-based payments

A. As of December 31, 2025, the Group’s share-based payment arrangements were as follows:

Quantity granted Contract Type of arrangement Grant date (inshares) period Employee share options 2019/12/20 3,269,000 6 years Employee share options 2022/11/30 2,145,000 6 years Cash capital increase reserved for employee preemption 2025/5/19 1,082,000 NA Employee share options 2025/8/28 3,000,000 6 years	Vesting conditions
	Notes 1 and 2 Note 1 Vested Immediately Note 1

The above share-based payment arrangements are all settled by equity.

• Note 1: The Group’s Board of Directors resolved to issue 3,269, 2,145 and 3,000 units of employee share options in 2019, 2022 and 2025, respectively. Each unit can subscribe for 1 thousand shares of common share. The employee share options shall be granted to full-time employees of the Company and its domestic and overseas subsidiaries that it directly or indirectly owns more than 50% voting shares in 2019 and 2022. The employee share options shall be granted to full-time employees of the Company and its domestic and overseas subsidiaries in 2025. The lifetime of the options is 6 years and the holders of the options can exercise a certain proportion of the options granted according to the following schedule from the date of holding them for 2 years:

	Accumulated ratio For the years ended December 31,	Accumulated ratio For the years ended December 31,
Schedule	2019 and 2022	2025
2 years	40%	20%
3 years	60%	40%
4 years	80%	70%
5 years	100%	100%

Note 2: It has been fully exercised in 2024.

~40~

B. Details of the share-based payment arrangements are as follows:

		2025	2025			2024	2024	2024
		Employee share options				Employee	share options
				Weighted-				Weighted-
				average				average
		Number of	exercise price			Number of	exercise price
		options		(in dollars)		options		(in dollars)
Options outstanding at
January 1		1,264,800	$	39		2,693,600	$	36
Options granted		3,000,000		588		-		-
Options exercised	(	379,600)		39	(	1,389,800)		33
Options forfeited	(	52,600)		81	(	39,000)		38
Options outstanding at
December 31		3,832,600		468		1,264,800		39
Options exercisable at
December 31		25,800		39		-		-

C. The expiry date and exercise price of share options outstanding at balance sheet date are as follows:

Issue date approved November 30, 2022 August 28, 2025 Issue date approved November 30, 2022	Expiry date Number of shares November 30, 2028 836,600 August 28, 2031 2,996,000 Expiry date Number of shares November 30, 2028 1,264,800 December December	31, 2025
		Exercise price (in dollars)
		39 $ 588 31, 2024
		Exercise price (indollars)
		39 $

~41~

• D. The fair value of share options granted on grant date is measured using the Black-Scholes option-pricing model. Relevant information is as follows:

==> picture [465 x 43] intentionally omitted <==

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

Exercise Expected Expected Fair value
Type of price price Expected dividend Risk-free per unit
arrangement Grant date (in dollars) volatility option life rate interest rate (in dollars) Description
----- End of picture text -----

Employee	2019/12/20	$	25	18.85%	4~5.5	2.17%	0.576%~	$ 1.9~2.2	Note 1
share options					years		0.608%
Employee	2022/11/30		39	21.24%~	4~5.5	-	1.223%~	10.6~11.9	〝
share options				21.86%	years		1.235%
Cash capital	2025/5/19		262	9.83%	5 days	-	1.309%	1.8	〝
increase
reserved for
employee
preemption
Employee	2025/8/28		588	53.04%	4~5.5	-	1.279%~	246.6~285.4	Note 2
share options					years		1.323%

• Note 1: Expected price volatility rate was estimated by using the historical share prices in the same industry with a fixed range within one year, and the standard deviation of the natural logarithm of the share during this period multiplied by the square root of the number of periods in one year.

• Note 2: Expected price volatility was estimated by the historical volatility calculated as using the standard deviation of the daily rate of return of the Company’s share price during the period from the listing on May 28, 2025 to the effective date of valuation. The historical volatility was annualised, and used as the forecast of the future expected price volatility of share price.

• E. Expenses incurred on share-based payment transactions are shown below:

Equity-settled	For the years endedDecember31,	For the years endedDecember31,
	2025 52,682 $	2024
		4,550 $

~42~

(14) Share capital

• A. As of December 31, 2025, the Company’s authorsied capital was $1,000,000, consisting of 100,000 thousand shares of ordinary share, and the paid-in capital was $766,879 with a par value of $10 (in dollars) per share. All proceeds from shares issued have been collected.

• Movements in the number of the Company’s ordinary shares outstanding (in thousands) are as follows:

2025 At January 1 69,088 Issuance of common shares for cash 7,220 Employee share options exercised 380 Share dividends of ordinary share (Note) - At December 31 76,688	2024 61,544 - 1,390 6,154
	69,088

Note: Refer to Note 6(16) C.

• B. On June 27, 2024, the Company’s Board of Directors resolved to amend the Articles of Incorporation. The Company’s authorised capital was amended from $800,000 to $1,000,000. The registration of the authorised capital was completed in July 2024.

• C. On June 27, 2024, the Company’s Board of Directors resolved to capitalise the earnings for the year ended December 31, 2023 amounting to $61,544 to increase its capital. The number of shares was 6,154 thousand shares. The capital increase was approved by the competent authority. On July 18, 2024, the Company’s Board of Directors resolved to set the effective date on August 10, 2024, and the registration was completed in August 2024.

• D. The Company accepted the issuance of employee share options for ordinary shares of 547,000 shares and 843,000 shares, which were issued in 2019 and 2022, respectively. The subscription prices were $25 and $39 per share, resulting in a total capital contribution of $46,550. The effective date for the capital increase was December 30, 2024, and the registration had been completed in February 2025.

• E. On March 13, 2025, the Company’s Board of Directors resolved to increase its capital by issuing 7,220 thousand ordinary shares with a par value of $10 (in dollars) per share to cooperate with the listing on the Taiwan Stock Exchange. The effective date was set on May 26, 2025. The minimum underwriting price at the competitive auction was $225.86 (in dollars) per share. The competitive auction was that the one who bid for the shares with the higher bid price could preferably win the bid. Each winning bidder should acquire the shares based on its bid price. The price of each bid document and its volume-weighted average price was $318.63 (in dollars) per share and the public subscription offering price was $262 (in dollars) per share, totaling $2,169,747 thousand, which had been fully collected. The registration for the change had been completed.

~43~

• F. The Company accepted the issuance of employee share options for ordinary shares of 380,000 shares, which was issued in 2022. The subscription price was $39 per share, resulting in a total capital contribution of $14,804. The effective date for the capital increase was December 24, 2025, and the registration had been completed in January 2026.

(15) Capital surplus

Pursuant to the R.O.C. Company Act, capital surplus arising from paid-in capital in excess of par value on issuance of common shares and donations can be used to cover accumulated deficit or to issue new shares or cash to shareholders in proportion to their share ownership, provided that the Company has no accumulated deficit. Further, the R.O.C Securities and Exchange Act requires that the amount of capital surplus to be capitalised mentioned above should not exceed 10% of the paid-in capital each year. However, capital surplus should not be used to cover accumulated deficit unless the legal reserve is insufficient.

(16) Retained earnings/events after the balance sheet date

• A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall first be used to pay all taxes and offset prior years’ operating losses and then 10% of the remaining amount shall be set aside as legal reserve. The remainder, if any, shall be appropriated.

• B. Except for covering accumulated deficit or issuing new shraes or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of shares or cash to shareholders in proportion to their share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital.

• C. The appropriations for 2024 and 2023 earnings have been approved by the shareholders during their meeting on June 26, 2025 and June 27, 2024, respectively. Details are summarized as follows:

share ownership is permitted, provided that the distribution of the reserve is limited to the portion in excess of 25% of the Company’s paid-in capital. The appropriations for 2024 and 2023 earnings have been approved by the shareholders during their meeting on June 26, 2025 and June 27, 2024, respectively. Details are summarized as follows:	ted, provided that the distribution of the reserve is limited to the f the Company’s paid-in capital. 4 and 2023 earnings have been approved by the shareholders during 2025 and June 27, 2024, respectively. Details are summarized as	ted, provided that the distribution of the reserve is limited to the f the Company’s paid-in capital. 4 and 2023 earnings have been approved by the shareholders during 2025 and June 27, 2024, respectively. Details are summarized as	ted, provided that the distribution of the reserve is limited to the f the Company’s paid-in capital. 4 and 2023 earnings have been approved by the shareholders during 2025 and June 27, 2024, respectively. Details are summarized as
Dividends per share Dividends per share Amount (indollars) Amount (indollars) Legal reserve 151,165 $ 110,222 $ (Reversal of) appropriation for special reserve 2,977) ( 2,977 Share dividends - - $ 61,544 1.00 $ Cash dividends 1,068,317 14.00 492,353 8.00 1,216,505 $ 667,096 $ For the years endedDecember31, 2024 2023	For the years endedDecember31,
		2023
		Amount 110,222 $ 2,977 61,544 492,353 667,096 $	Dividends per share (indollars)
			1.00 $ 8.00

~44~

• D. The appropriations of earnings for 2025 have been approved by the Board of Directors during its meeting on March 12, 2026. Details are summarized as follows:

Legal reserve Share dividends Cash dividends	Dividends per share Amount (in dollars) 236,720 $ 230,064 3.00 $ 1,303,694 17.00 1,770,478 $ For the year ended December31,2025

As of March 12, 2026, the appropriations of 2025 earnings stated above have not yet been resolved by the shareholders.

(17) Operating revenue

Revenue from contracts with customers	For the years ended December 31,	For the years ended December 31,
	2025 16,912,921 $	2024
		10,300,194 $

A. Disaggregation of revenue from contracts with customers

The Group derives revenue from the transfer of goods and services over time and at a point in time in the following major product lines:

For the yearendedDecember31,2025 Revenue from external customer contracts Inter-segment revenue Total segment revenue Timing of revenue recognition At a point in time Over time	Construction revenue 13,445,050 $ - 13,445,050 $ - $ 13,445,050 13,445,050 $	Other operating Adjustments and revenue Offset 3,467,871 $ - $ 1,744,199 1,744,199) ( 5,212,070 $ 1,744,199) ($ 4,724,169 $ 1,744,199) ($ 487,901 - 5,212,070 $ 1,744,199) ($	Total
			16,912,921 $ -
			16,912,921 $
			2,979,970 $ 13,932,951
			16,912,921 $

~45~

For the yearendedDecember31,2024 Revenue from external customer contracts Inter-segment revenue Total segment revenue Timing of revenue recognition At a point in time Over time	Construction revenue 7,521,114 $ - 7,521,114 $ - $ 7,521,114 7,521,114 $	Other operating Adjustments and revenue Offset 2,779,080 $ - $ 300,418 300,418) ( 3,079,498 $ 300,418) ($ 2,703,172 $ 300,418) ($ 376,326 - 3,079,498 $ 300,418) ($	Total 10,300,194 $ - 10,300,194 $
			2,402,754 $ 7,897,440
			10,300,194 $

B. Contract assets and liabilities

The Group has recognised the following revenue-related contract assets and liabilities:

			December 31,			December 31,			January 1,
			2025			2024			2024
Contract assets
Cumulative costs incurred and
profits recognised		$	14,842,824		$	14,434,072		$	11,662,323
Less: Cumulative progress billings	(		12,757,666)	(		12,483,372)	(		10,072,661)
Less: Loss allowance	(		626)	(		7,539)	(		766)
		$	2,084,532		$	1,943,161		$	1,588,896
Contract liabilities
Cumulative progress billings		$	17,420,710		$	8,928,306		$	8,526,350
Less: Cumulative costs incurred
and profits recognised	(		15,721,899)	(		7,444,972)	(		7,306,054)
Contract liabilities - other operting
revenue			34,522			11,277			29,851
		$	1,733,333		$	1,494,611		$	1,250,147

C. Revenue recognised that was included in the contract liability balance at the beginning of the

• year

Construction revenue Other operating revenue	For the years endedDecember31,	For the years endedDecember31,
	2025 1,126,131 $ 6,912 1,133,043 $	2024
		959,416 $ 24,340
		983,756 $

~46~

• D. Costs to fulfill a contract (recognised as “other current assets”)

December 31, 2025 December 31, 2024 Costs to fulfill a contract - current $ 5,409 $ 4,934

In response to the requirements of the customer contracts, the Group purchased the related materials and paid the related costs to the subcontractors. The costs were clearly identified relating to the contracts, and the costs were expected to be recoverable. The related revenue and costs would be recognised when the contractual performance obligations were completed.

• E. Aggregate amount of the transaction price allocated to construction contracts that are partially or fully unsatisfied as at December 31, 2025 and 2024, amounted to $21,260,800 and $14,986,495, respectively. Management expects that the transaction price allocated to the unsatisfied contracts as of December 31, 2025 and 2024, will be satisfied and recognised as revenue in the next one to two year(s).

• Except for the abovementioned contracts, all other construction contracts are for periods of one year or less. As permitted under IFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.

• F. The Group always recognises lifetime expected credit losses (ECLs) for contract assets. Contract assets are recognised as accounts receivable when the invoices are issued. The credit risk of contract assets is the same as the accounts receivable arising from similar contracts; so the allowance for losses on contract assets is measured based on the expected credit loss on accounts receivable. Also, if the credit risk of a contract asset has increased significantly since the original recognition, an allowance for loss on the contract asset should be recognised on a case-by-case basis. The amount of the allowance for loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the effective interest rate. The movement of the allowance for losses on contract asset for the years ended December 31, 2025 and 2024 was as follows:

			For the years ended	For the years ended	December31,
			2025		2024
Balance at January 1		$	7,539	$	766
(Reversal of) provision for impairment	(		6,915)		6,772
Net exchange differences			2		1
Balance at December 31		$	626	$	7,539

~47~

(18) Other gains and losses

		For the years ended	For the years ended	December31,
		2025		2024
Net foreign exchange gains	$	16,933	$	16,107
Gains on disposals of property, plant and
equipment		-		467
Gains on lease modifications		7		166
	$	16,940	$	16,740

(19) Finance costs

Interest expense on bank borrowings Interest expense on lease liabilities Less: Capitalised interest expense (	For the years ended December 31,	For the years ended December 31,
	2025 2024 30,217 $ 11,681 $ 3,740 1,227 30) 1,730) ( 33,927 $ 11,178 $	2024

(20) Depreciation, amortisation and employee benefit expense

Employee benefit expense Wages and salaries Labour and health insurance fees Pension costs Directors’ remuneration Other employee benefit expense Depreciation charges Amortisation charges	For the year ended December 31, 2025	For the year ended December 31, 2025
	Operating cost 1,223,600 $ 76,587 35,346 27,007 57,587 45,135 -	Operating expense Total 496,495 $ 1,720,095 $ 22,032 98,619 8,261 43,607 10,557 37,564 19,062 76,649 46,410 91,545 10,513 10,513

~48~

		For the	yearendedDecember	yearendedDecember	31,	2024
		Operating cost	Operating expense			Total
Employee benefit expense
Wages and salaries	$	881,025	$	268,178	$	1,149,203
Labour and health insurance fees		63,369		13,695		77,064
Pension costs		29,564		6,777		36,341
Directors’ remuneration		17,082		6,890		23,972
Other employee benefit expense		41,563		12,840		54,403
Depreciation charges		26,714		38,551		65,265
Amortisation charges		1,450		9,721		11,171

• A. As at December 31, 2025 and 2024, the Group had 1,278 and 1,078 employees, respectively.

• B. In accordance with the Articles of Incorporation of the Group as amended by the shareholders for the year ended December 31, 2025, a ratio of distributable profit of the current year, after covering accumulated losses, shall be distributed as employees’ compensation and directors’ remuneration. The ratio shall not be lower than 1% and higher than 20% for employees’ compensation, of which 1% to 11% of employees’ compensation shall be reserved for adjusting the salaries or distributing the compensation to the employees, and shall not be higher than 2% for directors’ remuneration.

• C. For the years ended December 31, 2025 and 2024, the accrued amounts of the employees’ compensation and directors’ remuneration of the Company are as follows:

Directors’remuneration Employees’ compensation	2025 2024 37,564 $ 23,972 $ 713,713 455,471 751,277 $ 479,443 $ For the years endedDecember31,	2025 2024 37,564 $ 23,972 $ 713,713 455,471 751,277 $ 479,443 $ For the years endedDecember31,
		23,972 $ 455,471
		479,443 $

Employees’ compensation and directors’ remuneration for 2025 as resolved by the Board of Directors on March 12, 2026 were in agreement with the estimated amount.

• D. Employees’ compensation and directors’ remuneration for 2024 as resolved by the Board of Directors were in agreement with those amounts recognised in the 2024 financial statements. Information about employees’ compensation and directors’ remuneration of the Group as resolved by the Board of Directors during its meeting will be posted in the “Market Observation Post System” at the website of the Taiwan Stock Exchange.

~49~

(21) Income tax

A. Income tax expense

• (a) Components of income tax expense:

Current tax: Current tax on profits for the year Tax on unappropriated surplus earnings Prior year income tax under (over) estimation Total current tax Deferred tax: Origination and reversal of temporary differences	2025 2024 614,775 $ 385,543 $ 16,905 21,756 13,715 9,846) ( 645,395 397,453 137,945 60,222 783,340 $ 457,675 $ For the years endedDecember31,

• (b) The income tax relating to components of other comprehensive income is as follows:

Remeasurement of defined benefit obligations	For the years ended December 31,	For the years ended December 31,
	2025 1,082 $	2024
		109 $

• B. Reconciliation between income tax expense and accounting profit

			For the years ended	For the years ended	December31,
			2025		2024
Tax calculated based on profit before tax and
statutory tax rate		$	749,076	$	431,996
Expenses disallowed by tax regulation			2,445		1,528
Tax exempt income by tax regulation	(		5,214)	(	2,710)
Temporary differences not recognised as
deferred tax assets			12,600		12,015
Taxable loss not recognised as deferred tax
assets			451		1,601
Effect from investment tax credits	(		7,506)	(	1,860)
Prior year income tax under (over) estimation			13,715	(	9,846)
Tax on unappropriated surplus earnings			16,905		21,756
Non-deductible foreign income tax			868		3,195
		$	783,340	$	457,675

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C. Amounts of deferred tax assets or liabilities as a result of temporary differences are as follows:

Recognised in Recognised in other comprehensive January1 profitor loss income December 31 Temporary differences: - Deferred tax assets: Book-tax differences on fixed assets 3,906 $ 1,302) ($ - $ 2,604 $ Employee benefits/welfare 2,517 623) ( - 1,894 Unrealised inventory valuation loss 13,049 589) ( - 12,460 Warranty provision 13,106 4,096) ( - 9,010 Loss on foreign investment accounted for using the equity method 3,624 1,356) ( - 2,268 Capitalised repair expenses 1,125 116 - 1,241 Unrealised foreign exchange loss - 1,292 - 1,292 Defined benefit plan 765 - 1,082 1,847 Others 3,306 1,790) ( - 1,516 41,398 8,348) ( 1,082 34,132 - Deferred tax liabilities: Gain on foreign investment accounted for using the equity method 85,333) ( 122,329) ( - 207,662) ( Unrealised purchases discount 5,411) ( 2,076 - 3,335) ( Unrealised sales revenue - 10,039) ( - 10,039) ( Other 695) ( 695 - - 91,439) ( 129,597) ( - 221,036) ( 50,041) ($ 137,945) ($ 1,082 $ 186,904) ($ 2025		2025	2025
			Recognised in other comprehensive income December 31 - $ 2,604 $ - 1,894 - 12,460 - 9,010 - 2,268 - 1,241 - 1,292 1,082 1,847 - 1,516 1,082 34,132 - 207,662) ( - 3,335) ( - 10,039) ( - - - 221,036) ( 1,082 $ 186,904) ($	December 31
				2,604 $ 1,894 12,460 9,010 2,268 1,241 1,292 1,847 1,516
				34,132
				221,036) (
				186,904) ($

~51~

					2024	2024
							Recognised
							in other
					Recognised in	comprehensive
			January1		profitor loss		income		December 31
Temporary differences:
- Deferred tax assets:
Book-tax differences on fixed assets		$	5,207	($	1,301)	$	-		$	3,906
Employee benefits/welfare			3,609	(	1,092)		-			2,517
Unrealised inventory valuation loss			10,301		2,748		-			13,049
Warranty provision			12,935		171		-			13,106
Allowance for uncollectible accounts			5,994	(	4,491)		-			1,503
Loss on foreign investment accounted
for using the equity method			1,779		1,845		-			3,624
Capitalised repair expenses			596		529		-			1,125
Unrealised profit from sale			753		320		-			1,073
Defined benefit plan			656		-		109			765
Others			6,468	(	5,738)		-			730
			48,298	(	7,009)		109			41,398
- Deferred tax liabilities:
Gain on foreign investment accounted
for using the equity method	(		38,226)	(	47,107)		-	(		85,333)
Unrealised purchases discount			-	(	5,411)		-	(		5,411)
Others			-	(	695)		-	(		695)
	($		38,226)	($	53,213)	$	-	($		91,439)
		$	10,072	($	60,222)	$	109	($		50,041)

~52~

• D. Expiration dates of unused tax losses and amounts of unrecognised deferred tax assets are as follows:

follows:
Territory China China China USA China Territory China China China USA	Year incurred 2022 2023 2024 2024 2025 Year incurred 2022 2023 2024 2024	Amount filed/ Unused assessed amount 336 $ 336 $ 758 758 542 542 5,657 - 1,802 1,802 Amount filed/ Unused assessed amount 336 $ 336 $ 758 758 542 542 5,657 5,657 December31,2025 December 31, 2024	Deferred tax assets 336 $ 758 542 - 1,802 Deferred tax assets 336 $ 758 542 5,657	Expiry year 2027 2028 2029 Note 2030 Expiry year
				2027 2028 2029 Note

Note: No expiration date.

• E. The amounts of deductible temporary differences that were not recognised as deferred tax assets are as follows:

Deductible temporary differences	December31,2025 December 31, 2024 315,704 $ 252,706 $

• F. The Company and its Taiwan subsidiary-Mega Union Technical Service Inc.’s income tax returns through 2023 have been assessed and approved by the Tax Authority.

~53~

(22) Earnings per share

Earnings per share
Basic earnings per share Profit attributable to ordinary shareholders of the parent Profit attributable to ordinary shareholders of the parent Assumed conversion of all dilutive potential ordinary shares - employees’ compensation - employee share options Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares Diluted earnings per share Basic earnings per share (Note) Profit attributable to ordinary shareholders of the parent Profit attributable to ordinary shareholders of the parent Assumed conversion of all dilutive potential ordinary shares - employees’ compensation - employee share options Profit attributable to ordinary shareholders of the parent plus assumed conversion of all dilutive potential ordinary shares Diluted earnings per share (Note)	Amount after tax 2,371,525 $ 2,371,525 $ - - 2,371,525 $ For the For the	Weighted average number of ordinary shares outstanding Earnings per share (sharesin thousands) (indollars) 73,448 32.29 $ 73,448 1,242 741 75,431 31.44 $ yearendedDecember31,2025 yearendedDecember31,2024
	Amount after tax 1,512,088 $ 1,512,088 $ - - 1,512,088 $	Weighted average number of ordinary shares outstanding (sharesin thousands) 67,702 67,702 1,576 1,171 70,449 $	Earnings per share (indollars)
			22.33 $
			21.46 $

~54~

Note ： On June 27, 2024, the Company’s shareholders during their meeting resolved to capitalise

the earnings to increase its capital. The effective date was set on August 10, 2024. The weighted average number of ordinary shares outstanding for the year ended December 31, 2024 was retrospectively adjusted proportionately to the capitalised amount of earnings.

(23) Supplemental cash flow information

Investing activities with partial cash payments:

			For the years ended	For the years ended	For the years ended	December31,
			2025			2024
Purchase of property, plant and equipment		$	497,418		$	364,996
Add: Ending balance of prepayments for
business facilities			4,360			1,789
Less: Opening balance of prepayments for
business facilities	(		1,789)			-
Less: Reclassification from inventories to
property, plant and equpment	(		5,298)	(		6,623)
Less: Interest capitalisation	(		30)	(		1,730)
Cash paid during the year		$	494,661		$	358,432

(24) Changes in liabilities from financing activities

2025

	2025
Balance at January 1 Changes in cash flow from financing activities Impact of changes on foreign exchange rate Changes in other non-cash items Balance at December 31	Short-term Long-term borrowings Lease liabilities (including current borrowings (Note) portion) - $ 420,988 $ 70,656 $ 924,341 263,190) ( 36,882) ( 7,984 - 1,076) ( - - 71,758 932,325 $ 157,798 $ 104,456 $	Liabilities from financing activities-gross
		491,644 $ 624,269 6,908 71,758
		1,194,579 $

~55~

			Long-term			Lease liabilities			Liabilities from
			borrowings		(including current				financing
			(Note)			portion)			activities-gross
Balance at January 1		$	524,805		$	21,146		$	545,951
Changes in cash flow from
financing activities	(		103,817)	(		20,247)	(		124,064)
Impact of changes on foreign
exchange rate			-			886			886
Changes in other non-cash
items			-			68,871			68,871
Balance at December 31		$	420,988		$	70,656		$	491,644

Note: Including current portion.

7. RELATED PARTY TRANSACTIONS

(1) Parent and ultimate controlling party

The Company has no ultimate parent company and ultimate controlling party.

(2) Names of related parties and relationship with the Group

Names of related parties	Relationship with the Group
Lin Kuo-Ching Chou Chin-Ming Tsao I-Chang	Chairman of the Company Key management personnel of the Group 〝

(3) Significant related party transactions

• A. Lease transactions - lessee

• (a) The Group leased buildings from the Company’s chairman, Lin Kuo-Ching, in September 2021 and July 2024. The lease agreements have a duration of three years. Rents amount to $317 per month and are paid semi-annually.

• (b) Lease liabilities

  • i. Outstanding balance

Lin Kuo-Ching	December31,2025 5,633 $	December31,2024
		9,281 $

~56~

ii. Interest expense

	For the years ended December 31,	For the years ended December 31,
	2025	2024
Lin Kuo-Ching	150 $	105 $

B. Endorsements and guarantees that the chairman and the key management personnel provided to the Group

Guaranteed amount Actual amount drawn down	December31,2025 8,513,260 $ 1,152,886 $	December31,2024 5,083,420 $
		474,736 $

(4) Key management compensation

Short-term employee benefits Post-employment benefits	For the years endedDecember31,	For the years endedDecember31,
	2025 69,906 $ 802 70,708 $	2024
		62,820 $ 883
		63,703 $

8. PLEDGED ASSETS

The Group’s assets pledged as collateral are as follows:

The Group’s assets pledged	as collateral are as follows:
Pledgedasset Property, plant and equipment Financial assets at amortised cost - current: Restricted demand deposits Restricted time deposits	December31,2025 December31,2024 1,322,101 $ 1,088,620 $ 447,844 - 100,000 690 1,869,945 $ 1,089,310 $ Bookvalue	Purpose
	December31,2025 1,322,101 $ 447,844 100,000 1,869,945 $
		Short-term and long-term borrowings Short-term borrowings and deposits frozen by the court due to litigation Provision of endorsements and guarantee to subsidiaries and guarantee for construction payments

~57~

9. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNISED CONTRACT COMMITMENTS

(1) Contingencies

The supplier of the Group filed a lawsuit with the People’s Court of Bao’an District, Shenzhen against the subsidiary of the Group due to the construction subcontract in April 2025, and the supplier requested the Group to repay the amount invested in the construction. The People’s Court held hearings for the case in November 2025 and December 2025, respectively. As of the issuance date of the financial statements, the Group has not yet received a ruling from the court. The Group assessed and recognised related losses and provisions amounting to $17,151. Additionally, the Group’s deposit amounting to $16,536 was frozen by the People’s Court of Bao’an District, Shenzhen due to the lawsuit, which had been reclassified to financial assets at amortised cost – current based on its nature.

(2) Commitments

• A. The guarantee notes that the Group issued to the bank as it undertook constructions and entrusted the bank to provide performance guarantee amounted to $34,276 as of December 31, 2025.

• B. The notes that the Group issued for construction performance guarantee amounted to $680,069 as of December 31, 2025.

• C. Total unpaid amounts under the Company’s signed construction purchase contracts, net of payments and accruals, were $2,886,390 as of December 31, 2025.

10. SIGNIFICANT DISASTER LOSS

None.

11. SIGNIFICANT EVENTS AFTER THE BALANCE SHEET DATE

• A. Refer to Notes 6(16). and 6(20).

• B. In response to the long-term development and plan of the Group’s operations, the Company’s Board of Directors resolved on March 12, 2026, to authorise the Chairman to fully represent the Company to negotiate the transaction details of the land and plant located in the Changhua Coastal Industrial Park with the non-related party and sign the relevant documents and contracts within a transaction amount of $200,000.

• C. In response to the operational needs, the Group plans to invest in the construction of plants, on March 12, 2026, the Company’s Board of Directors resolved to authorise the Chairman to fully handle the matters related to the U.S. subsidiary’s plant construction on its own land within a transaction amount of $1,950,000.

~58~

12. OTHERS

(1) Capital management

The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust to the optimal capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt.

(2) Financial instruments

A. Financial instruments by category

Financial assets Financial assets at amortised cost Cash and cash equivalents Financial assets at amortised cost Notes receivable Accounts receivable Other receivables Refundable deposits Financial assets at fair value through other comprehensive income Designation of equity instrument Financial liabilities Financial liabilities at amortised cost Short-term borrowings Accounts payable Other payables Long-term borrowings (Note) Lease liabilities (including current portion)	December31,2025 6,679,295 $ 547,844 - 2,734,404 6,573 32,994 10,001,110 $ 54,154 $ 932,325 $ 2,089,798 1,388,664 157,798 4,568,585 $ 104,456 $	December31,2024
		3,058,714 $ 690 3,235 1,837,923 2,663 8,931
		4,912,156 $
		50,000 $
		- $ 1,551,998 1,035,911 420,988
		3,008,897 $
		70,656 $

Note: Including current portion.

~59~

• B. Financial risk management policies

• (a) The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk, interest rate risk and price risk), credit risk and liquidity risk.

• (b) Risk management is carried out by a central treasury department (Group treasury) under policies approved by the Board of Directors. Group treasury identifies, evaluates and hedges financial risks in close co-operation with the Group’s operating units. The Board provides written principles for overall risk management, as well as written policies covering specific areas and matters, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.

• C. Significant financial risks and degrees of financial risks

• (a) Market risk

Foreign exchange risk

• i. The Group operates internationally and is exposed to foreign exchange risk arising from the transactions of the Group used in various functional currency, primarily with respect to the USD, RMB and EUR. Foreign exchange risk arises from future commercial transactions and recognised assets and liabilities.

• ii. Management has set up a policy to manage its foreign exchange risk against its functional currency.

~60~

• iii. The Group’s businesses involve some non-functional currency operations. The information on assets and liabilities denominated in foreign currencies whose values would be materially affected by the exchange rate fluctuations is as follows:

Foreign currency amount (In thousands) Financial assets Monetary items USD:NTD 25,473 $ USD:SGD 5,489 RMB:NTD 1,777 USD:RMB 950 Non-monetary items USD:NTD 15,373 SGD:NTD 34,919 RMB:USD 50,594 Financial liabilities Monetary items USD:NTD 18,643 $ USD:SGD 3,782 (Foreign currency: functional currency) Foreign currency amount (In thousands) Financial assets Monetary items USD:NTD 7,726 $ RMB:NTD 5,795 EUR:NTD 758 USD:SGD 1,697 USD:RMB 126 Non-monetary items USD:NTD 7,130 SGD:NTD 13,981 RMB:USD 45,745 Financial liabilities Monetary items USD:NTD 6,728 $ EUR:NTD 3,850 RMB:NTD 361 USD:SGD 249 (Foreign currency: functional currency)			December 31,2025	December 31,2025
		Exchange rate 31.42 1.29 4.51 6.97 31.42 24.45 0.14 31.42 1.29	Book value Degree of (NTD) variation 800,362 $ 1% 172,468 1% 8,014 1% 29,855 1% 483,015 1% 853,761 1% 227,925 1% 585,763 $ 1% 118,842 1% December31,2024		Sensitivityanalysis
					Effect on profitor loss 8,004 $ 1,725 80 299 - - - 5,858 $ 1,188	Effect on other comprehensive income
						- $ - - - 4,830 8,538 2,279 - $ -
	Foreign currency amount (In thousands) 7,726 $ 5,795 758 1,697 126 7,130 13,981 45,745 6,728 $ 3,850 361 249	Exchange rate 32.79 4.47 33.95 1.36 7.33 32.79 24.02 0.14 32.79 33.95 4.47 1.36	Book value (NTD) 253,336 $ 25,904 25,734 55,638 4,147 233,793 335,813 204,526 220,611 $ 130,708 1,614 8,160		Sensitivityanalysis
				Degree of variation 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1%	Effect on profitor loss 2,533 $ 259 257 556 41 - - - 2,206 $ 1,307 16 82	Effect on other comprehensive income
						- $ - - - - 2,338 3,358 2,045 - $ - - -

~61~

• iv. The total exchange gain, including realised and unrealised, arising from significant foreign exchange variation on the monetary items held by the Group for the years ended December 31, 2025 and 2024, amounted to $16,933 and $16,107, respectively.

Price risk

• i. The Group’s equity securities, which are exposed to price risk, are the held financial assets at fair value through other comprehensive income. To manage its price risk arising from investments in equity securities, the investment approach is conducted in accordance with the limits set by the Group.

• ii. The Group’s investments in equity securities comprise shares issued by the domestic companies. The prices of equity securities would change due to the change of the future value of investee companies. If the prices of these equity securities had increased/decreased by 1% with all other variables held constant, other components of equity for the years ended December 31, 2025 and 2024 would have increased/decreased by $542 and $500, respectively, as a result of other comprehensive income on equity investments classified as at fair value through other comprehensive income.

Cash flow and fair value interest rate risk

• i. The Group’s main interest rate risk arises from long-term and short-term bank borrowings. The borrowings with variable rates expose the Group to cash flow interest rate risk and the risk is partially offset by cash and cash equivalents held at variable rates. During 2025 and 2024, the Group’s borrowings were denominated in NTD and USD.

• ii. If the borrowing interest rate had increased/decreased by 50 basis point with all other variables held constant, profit, net of tax for the years ended December 31, 2025 and 2024 would have increased/decreased by $789 and $2,105, respectively. The main factor is that changes in interest expense result from floating rate borrowings.

• iii. The Group did not use any financial instrument to hedge its interest rate risk.

• (b) Credit risk

• i. Credit risk refers to the risk of financial loss to the Group arising from default by the clients or counterparties of financial instruments on the contract obligations. The main factor is that counterparties could not repay in full the contract assets and accounts receivable based on the agreed terms.

~62~

• ii. The Group manages its credit risk taking into consideration the entire group’s concern. According to the Group’s credit policy, each local entity in the Group is responsible for managing and analysing the credit risk for each of their new clients before standard payment and delivery terms and conditions are offered. Internal risk control assesses the credit quality of the customers, taking into account their financial position, past experience and other factors. Individual risk limits are set based on internal or external ratings in accordance with limits set by the Board of Directors. The utilisation of credit limits is regularly monitored.

• iii. The Group considers that the default occurs when the contract payments are past due over 365 days.

• iv. The Group adopts the assumptions under IFRS 9, if the contract payments were past due over 30 days based on the terms, there has been a significant increase in credit risk on that instrument since initial recognition.

• v. Information relating to the Group’s credit risk of contract assets, accounts receivable and notes receivable is provided in Notes 6(4) and (17).

• (c) Liquidity risk

• i. Cash flow forecasting is performed by Group treasury. Group treasury monitors rolling forecasts of the Company’s liquidity requirements to ensure it has sufficient cash to meet operational needs while maintaining sufficient headroom on its undrawn committed borrowing facilities at all times so that the Group does not breach borrowing limits or covenants (where applicable) on any of its borrowing facilities. Such forecasting takes into consideration the Group’s debt financing plans, covenant compliance, compliance with internal balance sheet ratio targets, and external regulatory or legal requirements.

• ii. As of December 31, 2025 and 2024, the Group’s undrawn bank borrowing facilities amounted to $7,360,374 and $4,608,684, respectively.

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• iii. The table below analyses the Group’s non-derivative financial liabilities and net-settled or gross-settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date for nonderivative financial liabilities and to the expected maturity date for derivative financial liabilities. The amounts disclosed in the table are the contractual undiscounted cash flows.

Non-derivative financial liabilities: Short-term borrowings Accounts payable Other payables Lease liabilities (including current portion) Long-term borrowings (Note) December 31, 2025 Non-derivative financial liabilities: Accounts payable Other payables Lease liabilities (including current portion) Long-term borrowings (Note) December 31, 2024	Less than 1 year 932,325 $ 2,089,798 1,388,664 58,136 6,404 Less than 1year 1,551,998 $ 1,035,911 26,369 35,944	Between 1 and 5 year(s) Over5 years - $ - $ - - - - 53,214 - 131,146 38,322 Between 1 and 5 year(s) Over5 years - $ - $ - - 52,303 - 143,038 324,985

Note: Including current portion.

(3) Fair value information

• A. The different levels that the inputs to valuation techniques are used to measure fair value of financial and non-financial instruments have been defined as follows:

• Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. A market is regarded as active where a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

• Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

• Level 3: Unobservable inputs for the asset or liability. The fair value of the Group’s investment in equity investment without active market and investment property is included in Level 3.

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B. Financial instruments not measured at fair value

The carrying amounts of cash and cash equivalents, financial assets at amortised cost, notes receivable, accounts receivable, other receivables, refundable deposits (recognised as “other non-current assets”) , short-term borrowings, notes payable, accounts payable, other payables, long-term borrowings (including current portion) and lease liabilities (including current portion) are approximate to their fair values.

• C. The related information on the nature of the assets and liabilities is as follows:

• (a) The related information on the nature of the assets and liabilities is as follows:

==> picture [443 x 175] intentionally omitted <==

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

December 31, 2025 Level l Level 2 Level 3 Total
Assets - Recurring fair value
measurements
Financial assets at fair value through
other comprehensive income
Equity securities $ - $ - $ 54,154 $ 54,154
December 31, 2024 Level l Level 2 Level 3 Total
Assets - Recurring fair value
measurements
Financial assets at fair value through
other comprehensive income
Equity securities $ - $ - $ 50,000 $ 50,000
----- End of picture text -----

• (b) The methods and assumptions the Group used to measure fair value are as follows:

• i. The fair value of other financial instruments is measured by using valuation techniques or by reference to counterparty quotes. The fair value of financial instruments measured by using valuation techniques can be referred to current fair value of instruments with similar terms and characteristics in substance, discounted cash flow method or other valuation methods, including calculated by applying model using market information available at the financial reporting date.

• ii. The output of valuation model is an estimated value and the valuation technique may not be able to capture all relevant factors of the Group’s financial and non-financial instruments. Therefore, the estimated value derived using valuation model is adjusted accordingly with additional inputs, for example, model risk or liquidity risk and etc. In accordance with the Group’s management policies and relevant control procedures relating to the valuation models used for fair value measurement, management believes adjustment to valuation is necessary in order to reasonably represent the fair value of financial and non-financial instruments at the consolidated balance sheet. The inputs and pricing information used during valuation are carefully assessed and adjusted based on current market conditions.

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• D. The following chart is the movement of Level 3 for the years ended December 31, 2025 and 2024:

2024:
		2025		2024
Balance at January 1	$	50,000	$	-
Acquired during the year		4,154		50,000
Balance at December 31	$	54,154	$	50,000

• E. Finance department is in charge of valuation procedures for fair value measurements being categorised within Level 3, which is to verify independent fair value of financial instruments. Such assessment is to ensure the valuation results are reasonable by applying independent information to make results close to current market conditions, confirming the resource of information is independent, reliable and in line with other resources and represented as the exercisable price, and frequently calibrating valuation model, updating inputs used to the valuation model and making any other necessary adjustments to the fair value.

• F. The following is the qualitative information of significant unobservable inputs and sensitivity analysis of changes in significant unobservable inputs to valuation model used in Level 3 fair value measurement:

Non-derivative equity instrument: Unlisted shares Non-derivative equity instrument: Unlisted shares	Fair value at December 31,2025 54,154 $ Fair value at December 31,2024 50,000 $	Valuation Significant unobservable technique input Market comparable companies Equity to asset ratio multiple and discount for lack of marketability Valuation Significant unobservable technique input Market comparable companies Equity to asset ratio multiple and discount for lack of marketability	Range (weighted average) 1.50~9.21 Range (weighted average) 2.21~11.71	Relationship of inputs to fairvalue
				The higher the multiple, the higher the fair value; the higher the discount for lack of marketability, the lower the fair value Relationship of inputs to fairvalue
				The higher the multiple, the higher the fair value; the higher the discount for lack of marketability, the lower the fair value

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• G. The Group has carefully assessed the valuation models and assumptions used to measure fair value. However, use of different valuation models or assumptions may result in different measurement. The following is the effect on profit or loss or on other comprehensive income from financial assets and liabilities categorised within Level 3 if the inputs used to valuation models have changed:

Input Financial assets Equity instrument Equity to asset ratio multiple and discount for lack of marketability Input Financial assets Equity instrument Equity to asset ratio multiple and discount for lack of marketability	Change ±1% Change ±1%	Favourable change Unfavourable change 542 $ 542) ($ Favourable change Unfavourable change 500 $ 500) ($ December31,2025 Recognisedinothercomprehensiveincome December31,2024 Recognisedinothercomprehensiveincome

13. Supplementary Disclosures

(1) Significant transactions information

• A. Loans to others: Refer to table 1.

• B. Provision of endorsements and guarantees to others: Refer to table 2.

• C. Holding of significant marketable securities at the end of the period (not including subsidiaries, associates and joint ventures): Refer to table 3.

• D. Purchases or sales of goods from or to related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 4.

• E. Receivables from related parties reaching $100 million or 20% of paid-in capital or more: Refer to table 5.

• F. Significant inter-company transactions during the reporting periods: Refer to table 6.

(2) Information on investees

Names, locations and other information of investee companies (not including investees in Mainland China) ： Refer to table 7.

(3) Information on investments in Mainland China

• A. Basic information: Refer to table 8.

• B. Significant transactions, either directly or indirectly through a third area, with investee companies in the Mainland Area: None.

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14. Segment Information

(1) General information

Information reported to the chief operating decision maker for the purposes of resource allocation and assessment of segment performance focuses on types of construction service or other services delivered or provided. Reportable segments are as follows:

• A. Construction segment: provide long-term services of planning, design and installation of ultrapure water and wastewater recycling system.

• B. Other segments: provide maintenance services of ultrapure water and wastewater recycling system and sales of relevant consumables and chemicals.

(2) Measurement of segment information

The segment information provided to the chief operating decision-maker for the reportable segments is as follows:

For the year ended December 31, 2025:

For the year ended December 31, 2025:
Segment revenue Segment income For the year ended December 31, 2024: Segment revenue Segment income	Construction segment 13,445,050 $ 2,817,288 $ Construction segment 7,521,114 $ 1,522,376 $	Other segments 3,467,871 $ 1,006,103 $ Other segments 2,779,080 $ 826,141 $	Total
			16,912,921 $
			3,823,391 $
			Total
			10,300,194 $
			2,348,517 $

(3) Reconciliation for segment income

• A. Sales between segments are carried out at arm’s length. The revenue from external customers reported to the chief operating decision-maker is measured in a manner consistent with that in the statement of comprehensive income.

• B. Reconciliation was not needed as the Group’s Board of Directors assesses segment performance and allocates resources based on the profit after tax.

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(4) Geographical information

Geographical information for the years ended December 31, 2025 and 2024 is as follows:

For the years ended December 31,

	For the years ende	dDecember31,	dDecember31,
Taiwan Singapore US China Others	Non-current Revenue assets 11,710,858 $ 2,161,131 $ 1,668,968 27,559 3,227,849 94,661 261,136 2,990 44,110 - 16,912,921 $ 2,286,341 $ 2025	Non-current Revenue assets 8,855,805 $ 1,733,396 $ 583,095 11,739 529,490 40,293 301,926 2,943 29,878 - 10,300,194 $ 1,788,371 $ 2024
			1,733,396 $ 11,739 40,293 2,943 -
			1,788,371 $

Note: Revenue is categorized based on the country where the customer is located.

(5) Major customer information

Major customer information of the Group for the years ended December 31, 2025 and 2024 is as follows:

Customer A	For the years endedDecember31,	For the years endedDecember31,
	2025 Revenue 13,064,633 $	2024
		Revenue
		7,877,768 $

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MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Loans to others

For the year ended December 31, 2025

Table 1

Expressed in thousands of NTD (Except as otherwise indicated)

Collateral Maximum Limit on loans General outstanding balance Balance at Amount of Allowance granted to a Ceiling on total ledger during the year ended December 31, transactions for single party loans granted No. account Is a related December 31, 2025 2025 Actual amount Interest Nature of with the Reason for shortdoubtful (Note 4 and (Note 5 and (Note 1) Creditor Borrower (Note 2) party (Note 3) (Note 3) drawn down rate loan borrower term financing accounts Item Value Note 6) Note 6) Footnote 0 Mega Union Technology Muaqua Other Yes $ 785,500 $ 785,500 $ - 8% Short$ - Working captial $ - None $ - $ 2,561,283 $ 2,561,283 Global Private Limited Engineering receivables term Inc. financing

Note 1: The numbers filled in for the loans provided by the Company or subsidiaries are as follows:

• (1) The Company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

Note 2: Fill in the name of account in which the loans are recognised, such as receivables–related parties, current account with stockholders, prepayments, temporary payments, etc.

Note 3: The maximum amount of the loans for the year and the amount of ending balance of the loans referred to the credit approved by the Board of Directors, not the actual drawdown amount.

Note 4: For the short-term financing needs, limit on loans granted to a single party shall not exceed 40% of the Company’s net assets. The amount of short-term financing provided refers to the cumulative balance of the Company's short-term financing. Note 5: Ceiling on total loans granted shall not exceed 40% of the Company’s net assets.

Note 6: Mega Union Technology Global Private Limited provided financing to foreign company in which the Company directly and indirectly holds 100% of the voting power. The ceiling on total and single party shall not exceed 300% of its net assets.

Table 1

Table 2

Expressed in thousands of NTD (Except as otherwise indicated)

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Provision of endorsements and guarantees to others

For the year ended December 31, 2025

Ceiling on Provision of Provision of Provision of Party being endorsed/guaranteed Limit on Amount of Ratio of accumulated total amount endorsements endorsements/ endorsements/ endorsements/ Maximum outstanding Outstanding endorsements endorsement/guarantee of /guarantees guarantees by guarantees to Relationship with guarantees endorsement/guarantee endorsement/guarantee /guarantees amount to net asset endorsements/ by parent subsidiary to the party in the provided for a amount as of December amount at December Actual amount secured with value of the guarantees company to parent Mainland Number Company endorser/guarantor single party 31, 2025 31, 2025 drawn down collateral endorser/guarantor provided subsidiary company China (Note 1) Endorser/guarantor name (Note 2) (Note 3) (Note 4) (Note 5) (Note 6) (Note 8) company (Note 3) (Note 7) (Note 7) (Note 7) Footnote 0 MEGA UNION Mega Union (2) $ 4,013,200 $ 1,590,868 $ 1,590,868 $ 711,108 $ 100,000 19.82% $ 5,618,480 Y N N TECHNOLOGY Technology INCORPORATED Global Private Limited 0 MEGA UNION Shanghai (3) 4,013,200 273,899 180,200 - - 2.25% 5,618,480 Y N Y TECHNOLOGY Megaunion INCORPORATED Environmental Technology Co., Ltd. 0 MEGA UNION Muaqua (2) 4,013,200 2,670,700 2,670,700 471,300 - 33.27% 5,618,480 Y N N TECHNOLOGY Engineering INCORPORATED Inc.

Note 1: The numbers filled in for the endorsements/guarantees provided by the Company or subsidiaries are as follows:

• (1) The Company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

• Note 2: Relationship between the endorser/guarantor and the party being endorsed/guaranteed is classified into the following six categories; fill in the number of category each case belongs to: (1) Having business relationship.

• (2) The endorser/guarantor parent company owns directly more than 50% voting shares of the endorsed/ guaranteed subsidiary.

• (3) The endorser/guarantor parent company and its subsidiaries jointly own more than 50% voting shares of the endorsed/ guaranteed company.

• (4) The endorsed/guaranteed parent company directly or indirectly owns more than 50% voting shares of the endorser/guarantor subsidiary.

• (5) Mutual guarantee of the trade as required by the construction contract.

• (6) Due to joint venture, each shareholder provides endorsements/guarantees to the endorsed/guaranteed company in proportion to its ownership.

• Note 3: Fill in limit on endorsements/guarantees provided for a single party and ceiling on total amount of endorsements/guarantees provided as prescribed in the endorser/guarantor company’s “Procedures for Provision of Endorsements and Guarantees”, and state each individual party to which the endorsements/guarantees have been provided and the calculation for ceiling on total amount of endorsements/guarantees provided in the footnote.

• (1) The ceiling on total amount of endorsements/guarantees provided to other companies by the Company is 70% of the Company's net assets based on the latest reports audited or reviewed by independent accountants.

• (2) The ceiling on total amount of endorsements/guarantees provided to a single party by the Company is 50% of the Company's net assets based on the latest reports audited or reviewed by independent accountants.

Note 4: Fill in the year-to-date maximum outstanding balance of endorsements/guarantees provided as of the reporting period.

• Note 5: Once endorsement/guarantee contracts or promissory notes are signed/issued by the endorser/guarantor company to the banks, the endorser/guarantor company bears endorsement/guarantee liabilities. And all other events involve endorsements and guarantees should be included in the balance of outstanding endorsements and guarantees.

Note 6: Fill in the actual amount of endorsements/guarantees used by the endorsed/guaranteed company.

Note 7: Fill in ‘Y’ for those cases of provision of endorsements/guarantees by listed parent company to subsidiary and provision by subsidiary to listed parent company, and provision to the party in Mainland China. Note 8:The Company provides a time deposit pledge as collateral to endorse and guarantee on behalf of its subsidiary.

Table 2

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES

Holding of significant marketable securities at the end of the period (not including subsidiaries, associates and joint ventures) December 31, 2025

Table 3

Expressed in thousands of NTD (Except as otherwise indicated)

Holding Company Name	Type	Name	Relationship with the securities issuer	General ledger account	Number of shares (in thousands) Book value Ownership Fair value As of December 31, 2025 Footnote
MEGA UNION TECHNOLOGY INCORPORATED	Stocks	Jin Join Rone Technology Corporation	Other related party	Financial assets at fair value through other comprehensive income - non-current	1,083 $ 54,154 1.47% $ 54,154

Table 3

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Purchases or sales of goods from or to related parties reaching NT$100 million or 20% of paid-in capital or more For the year ended December 31, 2025

Table 4

Expressed in thousands of NTD (Except as otherwise indicated)

Purchaser/seller	Counterparty	Relationship	Transaction	Differences in transaction terms compared to third partytransactions(Note)	Balance Percentage of total notes/accounts receivable (payable) Footnote Notes/accounts receivable (payable)
			Purchases (sales) Amount Percentage of total purchases (sales) Credit term	Unitprice Credit term
MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED	Mega Union Technical Services Inc. Muaqua Engineering Inc. Mega Union Technology Global Private Limited	Subsidiary Subsidiary Subsidiary	Technical service 264,861 $ 8.33% 30 days after month-end (Sales) 1,343,569) ( (9.75%) 180 days after month-end (Sales) 105,038) ( (0.76%) 90 days after month-end	Note Note Contract price No significant difference Contract price No significant difference	40,705) ($ (2.27%) 244,269 12.15% 9,612 0.48%

Note: As there is no relevant similar transaction to inquire about, the transaction terms are determined based on mutual agreements.

Table 4

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Receivables from related parties reaching NT$100 million or 20% of paid-in capital or more For the year ended December 31, 2025

Table 5

Expressed in thousands of NTD (Except as otherwise indicated)

Overdue receivables

CompanyName	Counterparty	Relationship	Endingbalance	Turnover rate	Amount Action taken	Amount received in subsequentperiod Allowance for doubtful accounts
MEGA UNION TECHNOLOGY INCORPORATED	Muaqua Engineering Inc.	Subsidiary	244,269 $	11.00	- $ -	$ - $ -

Table 5

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Significant inter-company transactions during the reporting period For the year ended December 31, 2025

Table 6

Expressed in thousands of NTD (Except as otherwise indicated)

Transaction

						Transaction
Number (Note 1)	Companyname	Counterparty	Relationship (Note 2)	General ledger account	Amount	Transaction terms	~~Percentage of~~ consolidated total operating revenues or total assets (Note 3)
0 0 0 0 0	MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED MEGA UNION TECHNOLOGY INCORPORATED	Mega Union Technical Services Inc. Mega Union Technical Services Inc. Muaqua Engineering Inc. Muaqua Engineering Inc. Mega Union Technology Global Private Limited	1 1 1 1 1	Cost of construction Accounts payable Operating revenue Accounts receivable Operating revenue	264,861 $ 40,705 1,343,569 244,269 105,038	30 days after month-end 30 days after month-end 180 days after month-end 180 days after month-end 90 days after month-end	1.57% 0.26% 7.94% 1.58% 0.62%

Note 1: The numbers filled in for the transaction company in respect of inter-company transactions are as follows:

• (1) Parent company is ‘0’.

• (2) The subsidiaries are numbered in order starting from ‘1’.

• Note 2: Relationship between transaction company and counterparty is classified into the following three categories; fill in the number of category each case belongs to (If transactions between parent company and subsidiaries or between subsidiaries refer to the same transaction, it is not required to disclose twice. For example, if the parent company has already disclosed its transaction with a subsidiary, then the subsidiary is not required to disclose the transaction; for transactions between two subsidiaries, if one of the subsidiaries has disclosed the transaction, then the other is not required to disclose the transaction.):

• (1) Parent company to subsidiary.

• (2) Subsidiary to parent company.

• (3) Subsidiary to subsidiary.

• Note 3: Regarding percentage of transaction amount to consolidated total operating revenues or total assets, it is computed based on period-end balance of transaction to consolidated total assets for balance sheet accounts and based on accumulated transaction amount for the period to consolidated total operating revenues for income statement accounts.

• Note 4: The Company may decide to disclose or not to disclose transaction details in this table based on the Materiality Principle.

Table 6

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Information on investees (excluding information on investments in Mainland China)

For the year ended December 31, 2025

Table 7

Expressed in thousands of NTD (Except as otherwise indicated)

Investor	Investee	Location	Main business activities	Initial investment amount	Shares held as at December 31,2025	Net profit (loss) of the investee for the year ended December 31, 2025	Investment income (loss) recognised by the Company for the year ended December 31, 2025 Footnote
				Balance as at December 31, 2025 Balance as at December 31, 2024	Number of shares (in thousands) Ownership (%) Book value
MEGA UNION TECHNOLOGY INCORPORATED 〝 〝 〝 〝	Mega Union Technology Global Inc. Mega Union Technology Worldwide Inc. Mega Union Technical Services Inc. Mega Union Technology Global Private Limited Muaqua Engineering Inc.	Samoa Samoa Taiwan Singapore USA	General investments holding General investments holding Operating Ultrapure water and wastewater construction contracting and service Ultrapure water and wastewater construction contracting and service	62,401 $ 62,401 $ 21,696 21,696 3,000 3,000 37,732 37,732 163,700 38,748	2,030 100 219,109 $ 730 100 9,511 - 100 29,136 1,300 100 853,761 5,000 100 254,395	23,465 $ 1,830) ( 19,430 490,862 105,171	24,223 $ Note 1,830) ( 〝 19,430 〝 490,862 〝 105,171 〝

Note: The Company's subsidiary.

Table 7

MEGA UNION TECHNOLOGY INCORPORATED AND SUBSIDIARIES Information on investments in Mainland China

For the year ended December 31, 2025

Investee in Mainland China Table 8	Main business activities	Paid-in capital	Investment method	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2025	Amount remitted from Taiwan to Mainland China/Amount remitted back to Taiwan for the year ended December 31, 2025	Accumulated amount of remittance from Taiwan to Mainland China as of December 31,2025	Net income of investee for the year ended December 31, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognised by the Company for the year ended December 31, 2025 (Note 3)	Footnote Book value of investments in Mainland China as of December 31, 2025 Accumulated amount of investment income remitted back to Taiwan as of December 31, 2025 Expressed in thousands of NTD (Except as otherwise indicated)	Footnote Book value of investments in Mainland China as of December 31, 2025 Accumulated amount of investment income remitted back to Taiwan as of December 31, 2025 Expressed in thousands of NTD (Except as otherwise indicated)
					Remitted to Mainland China	Remitted back to Taiwan
Shanghai Megaunion Environmental Technology Co., Ltd. Ultrapure water and wastewater construction contracting and service Megaunion Environmental Technology (Nanjing) Co., Ltd. Ultrapure water and wastewater construction contracting and service Companyname		USD2,000,000 2 USD700,000 2 Accumulated amount of remittance from Taiwan to Mainland China as of December 31,2025		61,494 $ - $ 20,789 - Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (MOEA)		- $ 61,494 $ - 20,789 Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA		23,494 $ 1,803) (	100% 100%	23,494 $ 1,803) (	218,816 $ 9,109	- $ Note 2(2)B and Note 4 - Note 2(2)B and Note 5
MEGA UNION TECHNOLOGY INCORPORATED		82,283 $		82,283 $		4,815,840 $

Note 1: Investment methods are classified into the following three categories; fill in the number of category each case belongs to:

• (1) Directly invest in a company in Mainland China.

• (2) Through investing in an existing company in the third area, which then invested in the investee in Mainland China.

• (3) Others

• Note 2: In the ‘Investment income (loss) recognised by the Company for the year ended December 31, 2025’ column:

• (1) It should be indicated if the investee was still in the incorporation arrangements and had not yet any profit during this period.

• (2) Indicate the basis for investment income (loss) recognition in the number of one of the following three categories:

• A. The financial statements were audited and attested by international accounting firm which has cooperative relationship with accounting firm in R.O.C.

• B. The financial statements were audited and attested by R.O.C. parent company’s CPA.

• C. Others.

Note 3: The numbers in this table are expressed in New Taiwan Dollars.

Note 4: Reinvested through Mega Union Technology Global Inc.

Note 5: Reinvested through Mega Union Technology Worldwide Inc.

Table 8