PSC - Annual Report 2024 | FinancialReports.eu

Stock Code: 2855 www.pscnet.com.tw

2024 ANNUAL REPORT

Notice to readers

This English-version annual report is a summary translation of the Chinese version and is not an official document of the shareholders’ meeting. If there is any discrepancy between the English and Chinese versions, the Chinese version shall prevail.

2024 Annual Report is available at: Taiwan Stock Exchange Market Observation Post System http://mops.twse.com.tw/

Table of Content

Table of Content
I. A Letter to Shareholders	1
II. Corporate Governance	3
Directors’, Supervisors’ and Managers’ Information	3
Implementation of Corporate Governance	32
Information Regarding the Company’s Audit Fee and Independent Auditor	98
Replacement of CPA	98
Information Regarding the Company’s Chairman, President, or managers responsible for financial and
accounting affairs who have held any position in the accounting firm or its affiliates	99
Net Change in shareholdings and in shares pledged by directors, supervisors, manages, and shareholders
holding more than a 10% share in the Company	100
Information Disclosing the Relationship between any of the Company’s Top Ten Shareholders	104
Ownership of Shares in Affiliated Enterprises	105
Name and position of the employees with the top ten amounts of bonuses as well as the total amounts
of the top ten bonuses	105
Training of Directors and Supervisors	106
Manager Learning	108
III. Capital Structure	110
Shareholders’ equity	110
Long-Term Borrowings	112
Issuance of Preferred Stocks	112
Issuance of Global Depositary Receipts	112
Issuance of Employee’s Stock Options	112
Merge and Acquisition	112
Working Capital Plans	112
IV. Business Environment	113
Description of Business Activities	113
Market Conditions	129
Employee Data	134
Environmental Protection and Corporate Citizenship	134
Labor Relations & Employee Benefit	135
Information and Communication Security Management	143
Material Contracts and Agreements	144

V. Financial Status, Operating Results and Risk Management	145
Financial Status	145
Analysis of Operating Results	145
Analysis of Cash Flow	146
Effects of Major Capital Expenditures in the Most Recent Fiscal Year on Financial Operations	147
Long-term Investment Policy	147
Analysis of Risk Management	147
Other significant events	156
VI. Other Disclosures	157
Consolidated Business Report of Affiliated Companies, Consolidated Financial Statements of Affiliated
Companies, and Reports of Affiliation	157
Private placement of marketable securities	159
Status of the Achievement in Financial Forecasts for the Latest Two Years	159
Methods and Assumptions used for Evaluating Fair Value of Financial Instruments	160
Hedge Accounting Applied to Financial Instruments	160
Items That Should Be Included Pursuant to Regulations Governing the Preparation of Financial Reports by
Securities Firms	161
Other Necessary Supplement	163
VII. Occurrences of items that may give rises to substantial impact on shareholders’
interests and/or stock price	164

I. A Letter to Shareholders

Dear Shareholders,

In 2024, as AI applications continue to expand and global trade shows signs of recovery, factors such as the Federal Reserve’s (FED) pause in interest rate hikes are contributing to moderate growth in the global economy. However, ongoing geopolitical tensions—including the Russia-Ukraine war, persistent conflicts in the Middle East, and the U.S.China rivalry—along with policy shifts such as Japan’s interest rate hikes, have led to increased volatility in the stock markets of major economies. In the United States, stable employment continues to support the underlying strength of the economy. While inflation has eased from its peak, it remains above the 2% target, prompting the Federal Reserve (FED) to delay interest rate cuts. This has exerted pressure on the bond market. However, the rapid expansion of AI technology applications, combined with momentum from the upcoming presidential election, has fueled growth in the U.S. stock market. In Europe, geopolitical conflicts continue to weigh on investment confidence. Despite several interest rate cuts by the European Central Bank, regions such as Germany remain mired in recession. Meanwhile, in mainland China, to stimulate the housing market and address local debt issues, the central government has introduced a series of supportive policies. However, ongoing trade tensions and technological restrictions between the United States and China continue to pose challenges to China’s economic growth.

On the domestic front, according to statistics released by the Directorate General of Budget, Accounting, and Statistics of the Executive Yuan at the end of February, the economic growth rate increased from 1.12% in 2023 to 4.59% in 2024. This growth was primarily fueled by strong demand for emerging technologies, which drove corporate investment. Additionally, the launch of urban renewal projects and the reconstruction of aging buildings led to a 12.45% increase in capital formation compared to the previous year. In the stock market, the growth of emerging technologies such as artificial intelligence and high-performance computing positively impacted sectors like semiconductors and electronic components, driving an upward trend in their stock prices, leading to the weighted Taiwan Stock Index rising from 17,930 points to 23,035 points, marking a 28.47% increase. Market volume also witnessed a significant rise, with the average daily trading volume of the listed and OTC markets climbing from NT$359 billion to NT$524.7billion, representing a 46.14% increase.

Amidst the favorable backdrop of steadily rising stock prices and trading volumes, our Company has delivered remarkable performance. The total annual revenue for 2024 stands at NT$12,024,538 thousand, comprising operating costs of NT$2,134,856 thousand and operating expenses of NT$6,105,210 thousand. The non-operating net income amounts to NT$1,015,717 thousand, resulting in a pre-tax net income of NT$4,800,189 thousand and an after-tax net income of NT$4,373,054 thousand, equivalent to NT$3.00 per share after tax, the highest record in history.

In the brokerage business, our market share reached 2.57% in 2024, ranked tenth among domestic competitive brokerage firms, the Company has seen a significant increase in the average balance of financing and unrestricted purpose loan services compared to the previous year. Furthermore, the ongoing promotion of wealth management services—spanning funds, insurance, and discretionary investment—has generated stable profits. In the face of a highly competitive financial environment, the company is leveraging its strong brokerage business as a foundation for expanding its wealth management offerings. It continues to optimize and upgrade various systems, introducing new features such as online loans for unrestricted purposes and seamless fund transfers between accounts. These improvements enhance operational efficiency and customer convenience, ultimately strengthening customer loyalty.

In 2024, the Company’s long-term efforts in the field of wealth management have gradually gained recognition. It received multiple honors at the Wealth Management Awards by “Wealth Magazine,” including “Best Public Welfare Promotion,” “Best Audio-Visual Marketing,” and “Best Wealth Enhancement.” Additionally, the Company made significant strides in the trust business. In the selection for the 2024 TRUST Award for Diverse Trust Innovations by “Commercial Times,” the Company was awarded the “Best Securities Firm Wealth Management Trust Innovation Quality Award” and the “Best Employee Benefits Trust Innovation Quality Award.”

In our underwriting business, we handled 16 lead cases and 38 co-lead cases throughout the year. The total underwriting amount reached NT$4.89 billion, placing us 11th in the industry. Our underwriting team operates with a lean organizational structure meticulously selecting cases, and provide professional services. We offer guidance to high-quality companies looking to enter the capital market, assisting them in raising funds and enhancing their financial structure and business scale.

President Securities Corporation

In terms of proprietary-related businesses, the proprietary trading team leverages strong research capabilities and professional expertise to analyze market trends, with a focus on emerging sectors such as artificial intelligence and semiconductors., showcasing outstanding operational performance. In terms of bond proprietary trading, the repeated postponement of interest rate cuts by the Federal Reserve (FED) in the United States, combined with high capital costs, has hindered the effective implementation of strategies. Consequently, we will maintain a low inventory level while awaiting opportunities. The Futures Proprietary Trading Business utilizes quantitative analysis techniques and expertise to continuously seek profit opportunities across commodities, time zones and markets, and product range has expanded from initially offering equity-type products to now including fixed income products.The Financial Products Business response to trends in the Taiwan stock market, we will focus on issuing warrants linked to high-potential underlying assets, ranking 7th in the industry in terms of warrant issuance amount. In response to the policies set forth by the Financial Supervisory Commission, each trading department is actively exploring new technologies and products, promptly launching offerings to meet the diverse investment needs of clients.

Given the Company’s market position and robust capital level, Taiwan Ratings Corporation has assigned a long-term credit rating of “twA” and a short-term credit rating of “twA-1” to our Company, with a “Stable” outlook. While we prioritize profitability, we also prioritize employee health, offering annual health check-ups, establishing an employee fitness center, organizing health competitions and seminar on physical and mental health to actively promote a healthy workplace. The Company has been honored with the CHR Healthy Corporate Citizen Award by CommonHealth Magazine. In response to the aging society trend, the Company is committed to fostering a diverse and inclusive workplace by offering specialized training programs and flexible working hours to enhance employee well-being. This effort has earned certification as a friendly enterprise for middle-aged and elderly individuals from the Taipei City Government in 2024, as well as the 2024 Happy Enterprise Gold Award from 1111 Job Bank. Furthering its commitment to corporate sustainability, the Company actively supports public welfare initiatives, including organizing blood donation drives to engage both employees and the local community. Through the “Mid-Autumn Festival Warmth for the Elderly” charity event, the Company collaborates with partner vendors and employee volunteers to package and distribute gifts to elderly and disadvantaged groups, helping them celebrate the Mid-Autumn Festival.

Looking ahead to 2025, since taking office in January, the Trump administration in the United States has implemented tariffs on steel, aluminum, and other products imported from China, Canada, Mexico, and globally. This has disrupted global trade, creating significant uncertainty in the economy. While the U.S. labor market remains strong, supporting consumption and investment, the tariff hikes may increase prices, potentially limiting the Federal Reserve’s ability to lower interest rates. In Europe, the rising risks of trade protectionism, combined with the need to address the fallout from the Russia-Ukraine war, are expected to lead to a significant rise in defense spending. This will exacerbate fiscal burdens and raise concerns about economic prospects. In China, the expansion of fiscal stimulus and monetary easing is likely to bolster economic growth, but weak consumer confidence, a sluggish real estate market, and ongoing U.S.-China tensions may continue to hinder growth. Domestically, the growth of artificial intelligence and related applications is expected to support export momentum. However, U.S. tariff policies and the responses from other nations are likely to impact international trade and supply chains. The Directorate-General of Budget, Accounting, and Statistics has revised the forecast for the country’s economic growth rate from 4.59% to 3.14% for the year.

President Securities is committed to maintaining stable operational performance. Given the uncertainty ahead, the management team will focus on a long-term and stable business strategy, implement robust risk management and internal control mechanisms, strengthen the Company’s operational foundation, enhance business competitiveness, and provide comprehensive financial services, we will offer comprehensive financial services tailored to meet their diverse wealth management requirements, create maximum value for the Company and its shareholders.

I hereby extend my most sincere gratitude to our shareholders for your long-term trust and support of President Securities. I wish you all good health and prosperity.

Chairman: Lin, Kuan-Chen President: Yang , Kai-Chih

2024 Annual Report

II. Corporate Governance

I. Directors’, Supervisors’ and Managers’ Information

A. Directors

1. Information Regarding Directors

March 30, 2025

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Executives, Directors or
Shareholding
Shareholding when Spouse & Minor Supervisors Who are Spouses
Title Nationality Name ElectedDate Gender/age (Until)Term Date (FirstElected) Elected Current Shareholding Shareholding Arrangementby Nominee Experience (Education) Current Position with PSC and Other Company or within Two Degrees of Kinship
Shares % Shares % Shares % Shares % Title Name Relation
Kai Nan
Investment 2024.6.27 2027.6.26 2000.6.8 42,253,212 2.90 42,253,212 2.90 0 0 0 0 NA NA NA NA NA
Co., Ltd.
1. MBA of University of Strathclyde 1. PSC: Member of Strategic
Development Committee
2. CFO of Uni-President Enterprises Corp.
2. Other Company:
3. CFO of Uni-President China Holdings Ltd.
• Senior Vice President:
4. Director of President Securities Corporation
Uni-President Enterprises Corp.
5. Director of Uni-President China Holdings Ltd. • Director:
Uni-President China Holdings
Ltd. , President Enterprises (China)
Investment Co., Ltd. , Uni-President
Republic of China Chen, Kuo-Delegate: 2024.6.27 51~60M/ 2027.6.26 2017.11.3 0 0 0 0 0 0 0 0 Hong Kong Holdings Limited,President (Vietnam) Co., Ltd.,President International Development Uni- NA NA NA
Hui Corp. , Uni-President (Singapore) Pte.
Ltd., Presicarre Co., Uni-President
Director Asia Holdings Ltd., Yahoo! Taiwan
Holdings Limited
• Chairman:
Kai Yu (BVI) Investment Co.,
Ltd. , Tone Ren Enterprise Co., Ltd.
• Supervisor:
Champ Green (Shanghai) Consulting
Co., Ltd., United Advisor Venture
Management Co., Ltd.
1. Master of Business Administration/Institute 1. PSC: NA
of Financial Management, National Sun
Yat-sen University 2. Other Company:
2. Assistant Manager of Taiwan International • President. & CEO:
Securities Corporation ScinoPharm Taiwan, Ltd.
3. Vice President of IBT Securities Co., Ltd. • Director:
Republic of Delegate: 2024.6.27 F/ 2027.6.26 2015.6.18 0 0 0 0 0 0 0 0 4. Division Head of Treasury Division, Uni- President Transnet Corp. NA NA NA
China Lu, Li-An 51~60 President Enterprises Corp. • Supervisor :
5. Director of President Transnet Corp., Tong Kuan Enterprise Co., Ltd.
President Collect Service Corp.
6. Supervisor of Tong Kuan Enterprise Co.,
Ltd.
7. Director of President Securities Corporation
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Executives, Directors or
Shareholding
Shareholding when Spouse & Minor Supervisors Who are Spouses
Title Nationality Name ElectedDate Gender/age (Until)Term Date (FirstElected) Elected Current Shareholding Shareholding Arrangementby Nominee Experience (Education) Current Position with PSC and Other Company or within Two Degrees of Kinship
Shares % Shares % Shares % Shares % Title Name Relation
Kao
Investment Chyuan 2024.6.27 2027.6.26 2024.6.27 32,988,828 2.26 32,988,828 2.26 0 0 0 0 NA NA NA NA NA
Co., Ltd.
1. Ph.D. in Finance, National Chung Hsing 1. PSC: Member of Strategic
University, R.O.C. Development Committee
2. MBA of National Taiwan University, 2. Other Company:
R.O.C.
• Senior Vice President:
3. Manager of President International
Development Corp. Uni-President Enterprises Corp.
4. Manager of Uni-President Enterprises • President:
Corp., Treasury Division Champ Green (Shanghai) Consulting
5. Vice President of Uni-President Enterprises Co., Ltd., President International
Corp., Business Integration Division Development Corp., President Property
Corporation
6. Director of President Securities Corporation
• Chairman:
7. Director of President International
Development Corp. United Advisor Venture Management
Ltd., Tong Yu Investment Corp.,
8. Director of Presco Netmarketing, Inc. President Life Sciences Co., Ltd.,
9. Director of Kuang Chuan Dairy Co., Ltd. AndroSciences Corp.
10. Director of Kuang Chuan Foods Ltd. • Director:
11. Director of Tait Marketing & Distribution President International Development
Director Co., Ltd. Corp., Presco Netmarketing, Inc.,
Republic of China Liu, Tsung-Delegate:Yi 2024.6.27 51~60M/ 2027.6.26 2024.6.27(Note 2) 0 0 0 0 0 0 0 0 12. Director of Changhua County Chang Chun-Ya Private Social Welfare Charity Foundation Kuang Chuan Dairy Co., Ltd., Kuang Chuan Foods Ltd., Tait Marketing & Distribution Co., Ltd., Presicarre NA NA NA
13. Director of Yantai North Andre Juice Co., Co., Changhua County Chang Chun-
Ltd. Ya Private Social Welfare Charity
Foundation, Yantai North Andre
14. Director of Champ Green Capital Limited Juice Co., Ltd., Champ Green Capital
15. Director of SMS Capital Management Ltd. Limited, Shanghai Shunfeng Restaurant
16. Director of SMS Investment Management Group Co., Ltd., Huasui Tomato
Co., Ltd. Investment Company, Woongjin Foods
Co., Ltd., Daeyoung Foods Co., Ltd.,
17. Director of SMS Capital Co., Ltd.
Uni-President (Korea) Co., Ltd.,
18. Director of Shanghai Shunfeng Restaurant PAYUNi Co.,Ltd., President (BVI)
Group Co., Ltd. International Investment Holdings Ltd.,
19. Director of Huasui Tomato Investment President Life Sciences Cayman Co.
Company Ltd., Yahoo! Taiwan Holdings Limited
20. Director of Woongjin Foods Co., Ltd.
21. Director of Daeyoung Foods Co., Ltd.
22. Director of Uni-President (Korea) Co., Ltd.
23. President of Champ Green (Shanghai)
Consulting Co., Ltd.
24. Director and President of United Advisor
Venture Management Ltd.
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Executives, Directors or
Shareholding
Shareholding when Spouse & Minor Supervisors Who are Spouses
Title Nationality Name ElectedDate Gender/age (Until)Term Date (FirstElected) Elected Current Shareholding Shareholding Arrangementby Nominee Experience (Education) Current Position with PSC and Other Company or within Two Degrees of Kinship
Shares % Shares % Shares % Shares % Title Name Relation
Canking
Investment 2024.6.27 2027.6.26 1988.11.26 17,947,517 1.23 17,947,517 1.23 0 0 0 0 NA NA NA NA NA
Co., Ltd.
1. Ph.D., University of San Francisco 1. PSC: NA
2. Master, Harvard University 2. Other Company:
3. MBA, George Washington University • Chairman:
Director 4. Senior Executive Officer Ministry of Canking Investment Co., Ltd.
Republic of China Teng, Wen-Delegate: 2024.6.27 51~60F/ 2027.6.26 2018.6.21 2,461,767 0.16 2,461,767 0.16 0 0 0 0 5. Assistant professor of National Taipei Education NA NA NA
Hwi University of Education
6. Chairman of Canking Investment Co., Ltd.
7. Director of President Securities Corporation
Hui Tung
Investment 2024.6.27 2027.6.26 1994.10.29 10,819,675 0.74 10,819,675 0.74 0 0 0 0 NA NA NA NA NA
Co., Ltd.
1. Department of International Business 1. PSC: NA
Soochow University
2. Other Company:
2. Vice Chairman of Hui Tung Enterprise
Corp. • Chairman:
Chieforce Corp.
3. Director of HHB Geriatric Healthcare Corp. • Vice Chairman:
Director 4. Director of Hui Tung Investment Co., Ltd. Hui Tung Enterprise Corp.
Republic of China Delegate: Lee, Chi- 2024.6.27 41~50M/ 2027.6.26 2018.6.21 0 0 0 0 0 0 0 0 5. Director of Japan Asia Specialities Co., Ltd.6. Director of President Securities Corporation • Director:Hui Tung Investment Co., Ltd. , HHB NA NA NA
Ming Geriatric Healthcare Corp. , Japan
Asia Specialities Co., Ltd., Zhao
Tung Corp., Chao Tung Corp., Union
Chinese Corp., Point Deco Co., Ltd.,
Huai Ren International Co., Ltd.
• Supervisor:
Chang Kun Housing Corp.
Chang Kun Ivesting Corp.
1. Ming Chuan University 1. PSC: Supervisory personnel of Trust
2. Accounting Deputy Manager, Auditing 2. Other Company:
Director Republic of China Lee, Shu-Fen 2024.6.27 71~80F/ 2027.6.26 2024.6.27(Note 3) 5,000 0 5,000 0 0 0 0 0 3. Director of President Securities CorporationManager of Eternal Materials Co., Ltd. • Employee:Kao Ying-Shih Chinese Culture NA NA NA
Collection Educational Foundation of
Kaohsiung.
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Executives, Directors or
Shareholding
Shareholding when Spouse & Minor Supervisors Who are Spouses
Title Nationality Name ElectedDate Gender/age (Until)Term Date (FirstElected) Elected Current Shareholding Shareholding Arrangementby Nominee Experience (Education) Current Position with PSC and Other Company or within Two Degrees of Kinship
Shares % Shares % Shares % Shares % Title Name Relation
1. The University of Iowa, MBA 1. PSC: Member of Audit Committee
/ Remuneration Committee / Risk
2. Assistant Vice President of BNP Paribas Management Committee / Strategic
Taiwan Development Committee
3. Executive Director of Goldman Sachs 2. Other Company:
(Asia)
• Partner:
4. Director of SG Warburg Securities Ltd. FCC Partners (TAIPEI) INC.
Taiwan
Supervisor:
5. Vice Chairman of ABN AMRO Bank, Zhi Nong Green Power Investment
Taipei Branch Co., Ltd.
Independent Republic of Song, 2024.6.27 M/ 2027.6.26 2018.6.21 0 0 0 0 0 0 0 0 6. Managing Director of CIMB Securities, Taiwan NA NA NA
Director China Yung-Fong 61~70
7. CIO and Executive Vice President of
Chunghwa Telecom Co., Ltd.
8. Director of Chunghwa Investment
Company
9. President of Chunghwa Investment
Company
10. Managing Director of Deutsche Bank
Taiwan
11. Independent Director of President Securities
Corp.
1. Department of Economics, Soochow 1. PSC: Member of Audit Committee
University / Remuneration Committee / Risk
Management Committee / Strategic
2. Independent Director of Himax Development Committee
Technologies, Inc.
2. Other Company:
Independent Republic of Horng, Yuan- 2024.6.27 M/ 2027.6.26 2018.6.21 0 0 0 0 0 0 0 0 3. Vice President of Finance Division of China Steel Corporation • Independent Director: NA NA NA
Director China 71~80
Chuan 4. Chairman of Gains Investment Corp. Himax Technologies, Inc.
5. Director of Kaohsiung Rapid Transit
Corporation
6. Independent Director of President Securities
Corporation
1. Department of Banking and Insurance, 1. PSC: Member of Audit Committee
Ming Chuan University / Remuneration Committee / Risk
Management Committee / Strategic
2. President of Just A investment limited Development Committee/ Supervisory
company personnel of Trust / Offshore Structured
3. Independent Director of Poindus Systems Products review team
Independent Republic of Yang, Hui- 2024.6.27 F/ 2027.6.26 2024.6.27 0 0 0 0 0 0 0 0 Corporation 2. Other Company:
Director China Chu 61~70
4. Managing Director / CIB Taiwan Senior • President:
CEO / Taipei Branch General Manager /
Representative of Natixis Just A investment limited company
5. IBD Taiwan Region CEO / Director/ IBD • Independent Director:
Director of Barclays Poindus Systems Corp., Synergy
ScienTech Corp.
8
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Note 1: The percentages of shares are calculated based on PSC’s capital: 1,455,831,343 shares

Note 2: Originally served as the legal representative of the Board of Directors for Kai Nan Investment Co., Ltd. As of June 27, 2024, this position has been transitioned to the legal representative of the Board of Directors for Kao Chuan Investment Co., Ltd.

Note 3: Originally served as the legal representative for the Board of Directors for China F.R.P. Corporation. As of June 27, 2024, this position has been transitioned to natural person director.

March 30, 2025

2. Major Shareholders of PSCʹs Institutional Shareholders

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PSC's Institutional
Major Shareholders of PSC's Institutional Shareholders (Holding Percentage) (Note2)
Shareholders (Note1)
Kao Chyuan Investment Co.,
Infinity Holdings Ltd. (51.11%), Eternity Holdings Ltd. (48.89%)
Ltd.
Hui Tung Investment Co.,
Lee, Tong-Liang (44.88%), Hsu, Jui-Chung (15%), Lee, Pei-Shan (12.44%), Lee, Chi-Hung (12.44%), Lee, Chi-Ming (12.44%)
Ltd.
Kai Nan Investment Co., Ltd. Uni-President Enterprises Corp. (100%)
Canking Investment Co., Ltd. Teng, Wen-Hwi (26.35%), Teng, Jun-Tse (26.69%), Teng, Wen-Hsuan (26.35%), Yang, Yu-Chiao (10.67%)
Note 1: As the Company’s Directors and Supervisors belong to institutional shareholder representatives, the name of the institutional shareholders.
Note 2: The name of the major shareholders of the institutional shareholders and their shareholding ratio. If the major shareholders are corporations, their information is listed in the table below.
Institutional Shareholders of the Major Shareholders
March 30, 2025
Institutional Shareholders Major Shareholders of the Institutional Shareholders (Holding Percentage) (Note)
Kao Chyuan Inv. Co., Ltd. (5.00%), Cathay Life Insurance Co.,Ltd. (4.38%), BNP Paribas - Hong Kong Branch (3.02%), Hou, Po-Ming (2.60%), Hou, Po-
Uni-President Enterprises
Yu (2.27%), Cathay MSCI Taiwan ESG Sustainability High Dividend Yield ETF (1.68%), TIP HDMV Index (1.44%), Labor Pension Fund-New Scheme
Corp.
(1.74%), Kao, Shiow-Ling (1.64%), Chunghwa Post Co., Ltd.(1.57%)
Kao, Shiow-Ling (55.91%), Lo, Chih-Hsien (20.27%), Kao, Han-Di (3.29%), Kao, Tze-Yi (3.29%), Lo, Shi-Ai (3.29%), Klassical Celestiality Holding Ltd.
Infinity Holdings Ltd.
(13.95%)
Kao, Shiow-Ling (70.76%), Lo, Chih-Hsien (21.18%), Kao, Han-Di (1.42%), Kao, Tze-Yi (0.98%), Lo, Shi-Ai (1.12%), Klassical Celestiality Holding Ltd.
Eternity Holdings Ltd..
(4.54%)
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Note: Name and holding percentage of the top ten shareholders of the Company’s institutional shareholders.

3. Professional qualifications and independence analysis of directors

(1) Information disclosure for the professional qualification of Directors and independence of Independent Directors:

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Number of Other
Criteria Public Companies in
Which the Individual
Professional Qualification Requirements and Work Experience Independence Disclosure
is Concurrently
Name Serving as an
Independent Director
I have over 5 years of working experience and professional business management expertise; I graduated from Apart from Notes 1(2), (3), (7), (8), and (12), Director is the Chairman of the Company,
National Taiwan University of Sport. I possess extensive working experience in securities dealers; I held positions as Chairman of Richness Cereal Trading Co, President of Fonmau Cereal Industrial Co., Ltd.,
Lin, Kuan-Chen Delegate of Kai the Vice Chairman and President of President Securities Corporation; currently, I am the representative of Kai Nan Director of President Futures Corp., one of the top ten natural person shareholder of the 0
Nan Investment Co., Ltd.
Investment Co., Ltd., the corporate chairman of the Company, and the Company's Chairman. I do not meet any of the Company, and the representative of the corporate shareholder of the Company as stated in
conditions defined in Article 30 of the Company Act. Article 27, the Director complies with the specifications of independence in Note 1.
I have over 10 years of working experience and professional business management expertise; I graduated with an Apart from Notes 1(2), (5), and (12), is the Director of the Company, hold position in
MBA from the University of Strathclyde, possessing extensive working experience in financial management. I held the Uni-President Enterprises Corporation, a corporate shareholder holding over 5%
Chen, Kuo-Hui Delegate of Kai the position as the CFO of Uni-President China Holdings Ltd. Currently, I am the Director of Uni-President China of the Company's issued shares, and the representative of the corporate shareholder of 0
Nan Investment Co., Ltd.
Holdings Ltd. and President International Development Corp., and am the representative of Kai Nan Investment Co., the Company as stated in Article 27, the Director complies with the specifications of
Ltd., the Company's corporate Director. I do not meet any of the conditions defined in Article 30 of the Company Act. independence in Note 1.
I have over 20 years of working experience and professional financial and accounting as well as legal expertise; I
possess the Master of Business Administration/Institute of Financial Management, National Sun Yat-sen University. I Apart from Notes 1(2), (5), and (12), is the Director of the Company, hold position in
possess extensive working experience in financial and accounting as well as business; I held the position as the chief the Uni-President Enterprises Corporation, a corporate shareholder holding over 5%
Lu, Li-An Delegate of Kai Nan of finance of Uni-President Enterprises Corp. Currently, I am the President of ScinoPharm Taiwan Ltd., Director of of the Company's issued shares, and the representative of the corporate shareholder of 0
Investment Co., Ltd.
President Transnet Corp., and Supervisor of Tong Kuan Enterprise Co., Ltd., and am the representative of Kai Nan the Company as stated in Article 27, the Director complies with the specifications of
Investment Co., Ltd., the Company's corporate Director. I do not meet any of the conditions defined in Article 30 of independence in Note 1.
the Company Act.
I have over 30 years of working experience and professional knowledge in finance and accounting. I hold a Ph.D. in
Finance from National Chung Hsing University, R.O.C. In addition to my academic background, I have extensive Apart from Notes 1(2), (5), and (12), is the Director of the Company, hold position in
experience in finance and business, including serving as Senior Vice President at Uni-President Enterprises Corp. the Uni-President Enterprises Corporation, a corporate shareholder holding over 5%
Liu, Tsung-Yi Delegate of Kao Currently, I serve as a Director of several companies, including President International Development Corp., Presco of the Company's issued shares, and the representative of the corporate shareholder of 0
Chyuan Investment Co., Ltd.
Netmarketing, Inc., Kuang Chuan Dairy Co., Ltd., and Kuang Chuan Foods Ltd. I am also the representative of Kao the Company as stated in Article 27, the Director complies with the specifications of
Chyuan Investment Co., Ltd., the Company's corporate Director. I do not meet any of the conditions defined in Article independence in Note 1.
30 of the Company Act.
I have over 10 years of working experience and professional business management, commercial law, and accounting
Apart from Notes 1(2), (3), and (12), is the Director of the Company, one of the top
expertise; I graduated with a Ph.D. from the University of San Francisco; I held the position as a lecturer at the
Teng, Wen-Hwi Delegate of National Taipei University of Education, and have extensive working experience in business management; currently, ten natural person shareholder of the Company, and the representative of the corporate 0
Canking Investment Co., Ltd. shareholder of the Company as stated in Article 27, the Director complies with the
I am the Chairman of Canking Investment Co., Ltd., and am the representative of Canking Investment Co., Ltd., the specifications of independence in Note 1.
Company's corporate Director. I do not meet any of the conditions defined in Article 30 of the Company Act.
I have over five years of working experience and professional business expertise; I graduated from the Department of
International Business of Soochow University. I have extensive working experience in business. Currently, I am the
Apart from Notes 1(2) and (12), is the Director of the Company and the representative of the
Lee, Chi-Ming Delegate of Hui Vice Chairman of Hui Tung Enterprise Corp., Director of Hui Tung Investment Co., Ltd., Director of HHB Geriatric corporate shareholder of the Company as stated in Article 27, the Director complies with the 0
Tung Investment Co., Ltd. Healthcare Corp., and Director of Japan Asia Specialities Co., Ltd., and am the representative of Hui Tung Investment specifications of independence in Note 1.
Co., Ltd., the Company's corporate Director. I do not meet any of the conditions defined in Article 30 of the Company
Act.
I have over five years of working experience and professional financial, accounting, and business expertise; I
graduated from Ming Chuan University (3-year college). I possess extensive working experience in financial,
Lee, Shu-Fen accounting, and business; I held positions as the Accounting Deputy Manager of Eternal Materials Co., Auditing Apart from Notes 1(2) is the Director of the Company, the Director complies with the specifications of independence in Note 1. 0
Manager of Eternal Materials Co., Ltd., and Director of President Securities Corporation. I do not meet any of the
conditions defined in Article 30 of the Company Act.
I have over five years of working experience and professional financial expertise; I graduated from Golden Gate
University in Finance with an MBA, and possesses extensive working experience in finance; I held positions as the
Juang, Jing-Yau Chief of Finance at Tainan Spinning Co., Ltd., and the Director of NANTEX Industry Co., Ltd. and Nan Fan Housing Apart from Notes 1(2) is the Director of the Company, the Director complies with the specifications of independence in Note 1. 0
Co., Ltd. Currently, I am the Director and President of T.S. Retail and Distribution Co., and the Director of the
Company. I do not meet any of the conditions defined in Article 30 of the Company Act.
----- End of picture text -----

Criteria Name	Professional Qualifcation Requirements and Work Experience	Independence Disclosure	Number of Other Public Companies in Which the Individual is Concurrently Serving as an Independent Director
Pai, Chun-Nan	I graduated from the Institute of Economics at National Taiwan University and hold a Ph.D. in Law from the Chinese Culture University; I have provided services in public and private enterprises for over 40 years and hold teaching position at National Taiwan University, National Taiwan Normal University, Soochow University, and Fu Jen University for teaching fnancial and economic courses. Currently, I am the Vice Chairman of BES Engineering Corporation, the Company's Independent Director , and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee (also the convenor). I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. No compensation received from providing business, legal, fnancial, and accounting services to the Company or its afliates for the past two years. 5. According to the above, I complied with the independence criteria.	0
Song, Yung-Fong	I have over 30 years of working experience and professional business management, business, legal, and accounting expertise; I graduated from The University of Iowa; after graduating with MBA, I held management positions in major investment banks or foreign-invested banks worldwide, such as holding positions as Vice President, Managing Director, and Executive Director at BNP Paribas Taiwan, Goldman Sachs (Asia), SG Warburg Securities Ltd. Taiwan, Deutsche Bank Taiwan, ABN AMRO Bank (Taipei Branch), and CIMB Securities, Taiwan, and became the CIO and Executive Vice President of Chunghwa Telecom Co., Ltd. in 2017. Currently, I am the Company's Independent Director and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. The compensation received from providing business, legal, fnancial, and accounting services to the Company or its afliates for the past two years was not more than half a million. 5. According to the above, I complied with the independence criteria.	0
Horng, Yuan-Chuan	I have over fve years of working experience in fnance and accounting; I graduated from the Department of Economics, Soochow University; currently, I am the Independent Director of Himax Technologies, Inc.; I held positions as the Vice President of Finance Division of China Steel Corporation and Chairman of Gains Investment Corp.; I am the Company's Independent Director, and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. Not provided business, fnancial, and accounting services to the Company or its afliates for the past two years. The compensation was NT$0. 5. According to the above, I complied with the independence criteria.	0
Yang, Hui-Chu	I have over 30 years of experience in fnance, investment, and management. I graduated from Ming Chuan University with a degree in Banking and Insurance. Currently, I serve as the President of Just A Investment, as well as an Independent Director at both Poindus Systems and SYNergy ScienTech. My previous experience includes positions at BNP Paribas, Barclays, and the BPCE Group, where I held roles such as President, Director, and Head of Capital Markets and Investment Banking. Currently, I am the Company's Independent Director and a member of the Audit Committee, Risk Management Committee, Remuneration Committee, Supervisory personnel of Trust, and Ofshore Structured Products review team. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. Not provided business, fnancial, and accounting services to the Company or its afliates for the past two years. The compensation was NT$0. 5. According to the above, I complied with the independence criteria.	2

Note1: The independence criteria are as follows:

1. Not an employee of the Company or any of its affiliates.

Not a director or supervisor of the Company or any of its affiliates. (However, if the independent directors engaged concurrently by the Company, its parent company, and its subsidiary or a subsidiary under the same parent company in accordance with this Act or local laws and regulations, this requirement shall not apply).
Not a natural-person shareholder who holds shares, together with those held by the person’s spouse, minor children, or held by the person under others’ names, in an aggregate amount of 1% or more of the total number of outstanding shares of the Company or ranking in the top 10 in holdings.
Not a manager of the 1st subparagraph, or a spouse, relative within the second degree of kinship, or lineal relative within the third degree of kinship of the persons 2nd and 3rd subparagraphs above.
Not a director, supervisor, or employee of a corporate shareholder who directly holds more than 5% of the Company’s total issued shares, who is among the top five shareholders, or who designates his or her representative to serve as a director or supervisor of the Company in accordance with Paragraph 1 or 2, Article 27 of the Company Act; (however, if the independent directors engaged concurrently by the Company, its parent company, and its subsidiary or a subsidiary under the same parent company in accordance with this Act or local laws and regulations, this requirement shall not apply).
Not a director, supervisor, or employee of another company where a majority of the Company’s director seats or voting shares and those of another company are controlled by the same person; (however, if the independent directors engaged concurrently by the Company, its parent company, and its subsidiary or a subsidiary under the same parent company in accordance with this Act or local laws and regulations, this requirement shall not apply.)
Not a director (or a managing director), supervisor, or employee of another company or institution where the Chairman, the President, or person holding an equivalent position of the Company and a person in an equivalent position at another company or institution are the same person or spouses; (however, if the independent directors engaged concurrently by the Company, its parent company, and its subsidiary or a subsidiary under the same parent company in accordance with this Act or local laws and regulations, this requirement shall not apply.)
Not a director, supervisor, officer, or shareholder holding 5% or more of the shares, of a specified company or institution which has a financial or business relationship with the Company.(However, if a specific company or institution holds more than 20% and no more than 50% of the total issued shares of the Company and if the independent directors engaged concurrently by the Company, its parent company, and its subsidiary or a subsidiary under the same parent company in accordance with this Act or local laws and regulations, this requirement shall not apply.)
Not a professional individual, or a spouse, who is an owner, partner, director, supervisor, or officer of a sole proprietorship, partnership, company, or institution that provides auditing services, commercial, legal, financial, accounting services or consultation to the Company or to any affiliate of the Company, the cumulative amount of payments obtained in the past two years has not exceeded NT$ 500,000. These restrictions do not apply to people whose duties are performed in accordance with the Securities and Exchange Act and the Business Mergers And Acquisitions Act or members of the Tender Offer Review Committee or the M&A Special Committee.
Not having a marital relationship, or a relative within the second degree of kinship to any other director of the Company.
Not been a person of any conditions defined in Article 30 of the Company Act.
Not a governmental, juridical person or its representative as defined in Article 27 of the Company Act.

(2) Diversity and independence of the Boardof the Board:

 Diversity of the Board:

In order to increase the effectiveness of the Board of Directors and facilitate the healthy growth of its composition and structure, our Company has implemented a diversification policy in line with “Corporate Governance Best Practice Principles.”Abiding by article 20 of our Principles for Corporate Governance, in respect of the Company’s business development needs, and shareholders’ shareholding and practical operational needs, Propose an appropriate diversification policy that includes the following two dimensions to ensure that our Company’s directors achieve specific management objectives in terms of professionalism and diversity:

(1) Basic Conditions and Values: Gender, age, etc.

(2) Professional Knowledge and Skills: This section should include information about professional background, such as law, accounting, industry, finance, marketing or technology. It should also highlight professional skills and industry experience.

Currently, there are 12 Directors in the Company, including 4 independent Directors, backgrounds in finance, accounting, business administration, law, and investment, as well as rich industry experience in securities and futures, food, retail, trade, warehousing, petrochemical, optoelectronics. The 4 independent directors accounting for 33% of total Directors, there’s 3 with a term of 7-9 years, and 1 with a term of 1-3 years, adhering to the target of proportion and terms of years (within 3 terms). The Company also emphasize the gender equality among Directors. The target regarding percentage of female Director is 30% or above. In the current term, there are 4 female Directors, stand for 33% of total board membership, the expectation is to achieve the goals in the upcoming year as well.

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Age Comprehensive Abilities
1. 2. 3. 4. 5. 6. 7. 8. 9.
Professional Background
Name Gender Below More (Educational & Diverse Industry Experience Operational Accounting Operating Crisis Industrial International Leadership Decision- Risk
30~49 Judgement & Financial Management Management Knowledge Points of View making Management
30 than 50 Experience)
Analysis Ability Knowledge &
Ability
Business Administration,
Teng, Wen-Hwi F ✓ Education, University Faculty, Trade, Investment ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Investment
Lee, Chi-Ming M ✓ International Trade Wholesale, Trade, Construction, Investment ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Lee, Shu-Fen F ✓ Financial Management Material Industry ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Juang, Jing-Yau M ✓ Financial Management Securities , Textile, Retail ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Business Investment, Financial
Pai, Chun-Nan M ✓ Finance, Economic, Investment, Securities, University ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Investment, Bank, Law Faculty
Song, Yung-Fong M ✓ Business Administration, Investment Telecommunications, Investment Banking, Securities ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Horng, Yuan-Chuan M ✓ Investment ManaFinancial Management, gement Steel ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Yang, Hui-Chu F ✓ Finanace, Money Market, Investment Banking, Finance, ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Capital market Underwriting, Mergers and Acquisitions
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 Independence of the Board:

The Company has set up four independent directors. Qualification check for independent directors shall be conducted during the selection and tenure, and a declaration shall be issued. Each independent director must submit a declaration that meets the requirements for independence. Independent Directors often raise constructive questions, express opinions independent of the operating team or other Directors in the Board and various committees under the Board, and request supplementary information from the operating team for explanation.

The education and experience of all directors of the Company are disclosed on the Company’s website and the annual report of the shareholders’ meeting (see Chapter II for details). The relationships among the directors are also disclosed in the annual report of the shareholders’ meeting, where there is no spousal relationship or family relationship within the second degree of kinship, which complies with the requirements of paragraphs 3 and 4, Article 26-3 of the Securities and Exchange Act.

B. Information regarding directors, supervisors, management team and branch manager

March 31, 2025

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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
1. Executive Vice President of President
President Republic Of China Yang , Kai-Chih M 2024.07.05 144,717 0 0 0 0 0 2. Vice President of President Securities Securities Corporation Director of President Futures Corp. NA NA NA NA
Corporation
1. President of President Securities
President Office Specialized Commissioner Republic Of China Tsai, Sen-Bu M 2024.07.05 332,307 0.02 0 0 0 0 1. Vice President of President Securities Corporation 1. Director of President Securities (HK) Ltd.2. Director of Jin Yuan President Securities Ltd. NA NA NA NA
Corporation
1. Assistant Vice President of
MasterLink Securities Corp. 1. Director of President Securities (HK) Ltd.
Finance Department Vice President Republic Of China An, Chi-Li F 2004.06.30 165,738 0.01 0 0 0 0 2. SVP of Ta Chong Bank LTD.3. Head of Treasury of Barclays Bank 2. Supervisor of President Insurance Agency Co., Ltd NA NA NA NA
PLC 3. Chief supervisor of Jin Yuan President
Securities Ltd.
4. Treasurer of Societe Generale
Quantitative 1. Vice President of Oriental Securities
Trading Department Vice Republic Of China Huang, Jung-Jen M 2009.03.26 113,883 0 0 0 0 0 2. Assistant Vice President of Corporation. Director of President Futures Corp. NA NA NA NA
President MasterLink Securities Corporation.
1. Professional Vice President of
Financial Product Department Vice President Republic Of China Pu, Chien-Heng M 2019.03.22 0 0 0 0 0 0 2. Assistant Manager of Capital President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Vice President of Taishin Securities
Capital Market Department Vice President Republic Of China Wei, Chih-Hsu M 2020.11.10 0 0 0 0 0 0 2. Sales Assistant Vice President of Corporation. 1. Director of Fortune Industries Inc.2. Director of Taiwan Golf & Country Club NA NA NA NA
Taiwan Securities Corporation.
1. Senior Assistant Vice President of
Fixed Income Department Vice President Republic Of China Yeh, Ming-Chieh M 2020.12.24 0 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Senior Assistant Vice President of
Administration Department Vice President Republic Of China Yu, Hung-Chieh M 2024.01.01 0 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation Director of President Insurance Agency Co., Ltd. NA NA NA NA
Securities Corporation
1. Senior Assistant Vice President of 1. Director (Representative of President
President Office Vice President Republic Of China Chen, Nai-Chen F 2025.03.01 902 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation Securities) of HuaVI Venture Capital Co.,Ltd NA NA NA NA
Securities Corporation 2. Owner of Chen-Yung Hikes
Information 1. Senior Assistant Vice President of
System Department Vice Republic Of China Lin, Jung-Hui M 2025.03.01 89 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation Director of President Futures Corp. NA NA NA NA
President Securities Corporation
14
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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
Proprietary 1. Investment Vice President of
Trading President Securities Corporation
Department Investment Vice Republic Of China Lin, Chun-Kuan(Acting) M 2024.07.05 0 0 0 0 0 0 2. Senior Investment Assistant Vice President of President Securities N/A NA NA NA NA
President Corporation
Shareholder 1. Assistant Vice President of President
Services Department Sales Republic Of China Chueh, Chih-Chung M 2021.04.01 38,989 0 0 0 0 0 2. Senior Vice President of Capital Securities Corporation N/A NA NA NA NA
Vice President Securities Corporation.
1. Senior Manager of President
Auditing Office Chief Auditor Republic Of China Hsu, Wen-Ling F 2023.02.23 20,120 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
Corporation
Quantitative 1. Senior Assistant Vice President of
Trading Department Specialized Vice Republic Of China Lee, Chien-Hsin M 2024.04.01 0 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation N/A NA NA NA NA
President Securities Corporation
Quantitative 1. Senior Assistant Vice President of
Trading Department Specialized Vice Republic Of China Chien, Pang-Yen M 2024.04.01 0 0 0 0 0 0 2. Assistant Vice President of President President Securities Corporation N/A NA NA NA NA
President Securities Corporation
1. Vice President of President Securities
President Office Project Vice President Republic Of China Chang, Hung-Shuo M 2024.06.06 1,490 0 0 0 0 0 2. Supervisor Vice President of Corporation Director of President Insurance Agency Corp. NA NA NA NA
President Securities Corporation
Capital Market 1. Assistant Vice President of President
Department Senior Republic Of Chiang, Chang- M 2024.04.01 0 0 0 0 0 0 Securities Corporation N/A NA NA NA NA
Assistant Vice China Kuen 2. Senior Manager of President
President Securities Corporation
Capital Market 1. Assistant Vice President of President
Department Senior Assistant Vice Republic Of China Lin, Wei-Hung M 2024.04.01 0 0 0 0 0 0 2. Senior Manager of President Securities Corporation N/A NA NA NA NA
President Securities Corporation
Finance 1. Senior Manager of President
Department Assistant Vice Republic Of China Su, Wei-Lun M 2016.06.20 0 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
President Corporation
Financial Product 1. Senior Manager of President
Department Assistant Vice Republic Of China Chang, Chung-Lin M 2016.08.01 0 0 0 0 0 0 2. Manager of President Securities Securities Corporation Director of Shan Ben Engineering Co., Ltd. NA NA NA NA
President Corporation
Shareholder 1. Senior Manager of President
Services Department Assistant Vice Republic Of China Chang,Shao-Ping M 2016.09.01 829 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
President Corporation
15
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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
Settlement 1. Assistant Vice President of President
& Clearing Department Senior Assistant Vice Republic Of China Wu, Sheng-Yu M 2025.03.01 17,080 0 0 0 0 0 1. Assistant Vice President of President Securities Corporation N/A NA NA NA NA
President Futures Corp.
Capital Market 1. Senior Manager of President
Department Republic Of Chen, Chia- M 2019.07.01 0 0 0 0 0 0 Securities Corporation N/A NA NA NA NA
Assistant Vice China Chang 2. Manager of President Securities
President Corporation
Information 1. Senior Manager of President
System Department Assistant Vice Republic Of China Hu, I-Der M 2020.07.01 123 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
President Corporation
Settlement 1. Senior Manager of President
& Clearing Department Assistant Vice Republic Of China Huang, Chi-Ming M 2021.08.01 0 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
President Corporation
1. Senior Manager of President
Risk Control Office Assistant Vice President Republic Of China Chang, Ping-Chuan M 2022.07.01 16,007 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
Corporation
General Affairs 1. Senior Manager of President
Department Assistant Vice Republic Of China Chen, Shu-Fen F 2023.04.01 3,120 0 0 0 0 0 2. Senior Manager of President Securities Corporation N/A NA NA NA NA
President Insurance Agency Corp.
Capital Market 1. Senior Manager of President
Department Assistant Vice Republic Of China Hsu, Hui-Chun F 2023.04.01 0 0 0 0 0 2. Sales Assistant Vice President of Securities Corporation N/A NA NA NA NA
President Taishin Securities Corporation
Capital Market 1. Senior Assistant Vice President of
Department Assistant Vice Republic Of China Yeh, I-Lin F 2024.04.01 0 0 0 0 0 0 2. Vice President of Capital Securities Concord Securities Corporation N/A NA NA NA NA
President Corporation
Administration 1. Senior Manager of President
Department Assistant Vice Republic Of China Wu, Fang-Ling F 2024.05.01 382 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
President Corporation
1. Senior Manager of President
Information System Assistant Vice President Republic Of China Liu, Chia-Hao M 2024.05.01 64,565 0 2000 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
Corporation
1. Senior Manager of President
Compliance Division Assistant Vice President Republic Of China Su, Yung-Hsin F 2024.07.01 521 0 0 0 0 0 2. Manager of President Securities Securities Corporation N/A NA NA NA NA
Corporation
16
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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
Capital Market 1. Senior Manager of President
Department Specialized Assistant Vice Republic Of China Lu, Hung-Ming M 2024.05.01 0 0 0 0 0 0 2. Manager of Taishin Securities Securities Corporation N/A NA NA NA NA
President Corporation
Brokerage
Department 1. Supervisor Vice President of
Heads of Department Republic Of China Lin, Li-Lin(Acting) F 2024.06.06 6,481 0 0 0 0 0 1. Assistant Vice President of President President Securities Corporation N/A NA NA NA NA
Supervisor Vice Securities Corporation
President
1. Senior Assistant Vice President of
Brokerage Department Vice District Supervisor Republic Of China Hsu, Sheng-Hsiang M 2023.06.01 0 0 0 0 0 0 2. Sales Manager President of Cathay KGI Securities Corporation N/A NA NA NA NA
Securities Corp.
1. Branch Assistant Vice President of
Brokerage Department Vice District Supervisor Republic Of China Lin, Yu-Ju F 2024.06.06 0 0 0 0 0 0 2. Senior Deputy Manager of KGI President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Branch Assistant Vice President of
Brokerage Department Vice District Supervisor Republic Of China Cheng,Chih-Ming M 2024.10.18 0 0 0 0 0 0 2. Sales Vice President of MEGA President Securities Corporation N/A NA NA NA NA
Securities
1. Branch Assistant Vice President of
Acting Brokerage Department Vice District Supervisor Republic Of China Chiang, Wen- Ling F 2024.08.29 0 0 0 0 0 0 2. Senior Manager of President President Securities Corporation N/A NA NA NA NA
Securities Corporation
Brokerage
Department 1. Senior Assistant Vice President of
Global Wealth Management Division Republic Of China Wang, Ssu-Wei F 2023.09.01 0 0 0 0 0 0 2. Senior Manager of Grand Cathay KGI Securities Corporation Person in charge of Fitness Beauty Ltd. NA NA NA NA
Specialized Vice Securities Corporation
President
Global
Institutional 1. Sales Vice President of President
Service Department Institutional Republic Of China Wang, Shi-Cheng M 2024.10.08 0 0 0 0 0 0 2. Senior Assistant Vice President of Securities Corporation Supervisor of Gee Sheng Enterprise Co., Ltd. NA NA NA NA
Service Vice President Securities Corporation
President
Brokerage 1. Sales Manager President of Cathay
Department Debit Center Assistant Republic Of China Chu, Chen-Pu M 2020.07.01 0 0 0 0 0 0 2. Specialist of Fubon Securities Securities Corp. N/A NA NA NA NA
Vice President Corporation
Brokerage 1. Manager of President Securities
Department Digital Business Department Republic Of China Tsai, Shu-Mei(Acting) F 2024.06.01 12 0 0 0 0 0 2. Senior Deputy Manager of President Corporation N/A NA NA NA NA
Manager Securities Corporation
17
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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
Brokerage Depart- 1. Manager of President Securities
ment Digital Fi-nance Department Assistant Vice Republic Of China Liu, Chun-Liang M 2023.04.01 0 0 0 0 0 0 2. Manager of SinoPac Securities Corporation N/A NA NA NA NA
President Corporation
Prestige Wealth 1. Assistant Vice President of Entie
Center in Northern Region Assistant Republic Of China Cheng, Hsin-Ti F 2024.03.11 0 0 0 0 0 0 Commercial Bank, Ltd. N/A NA NA NA NA
Vice President 2. Director of Yan Yi Family Office
Wealth 1. Deputy Manager of President
Management and Trust Department Senior Deputy Republic Of China Kao, Hsiu-Lin F 2024.04.01 1,788 0 2,080 0 0 0 2. Senior Project Assistant Manager of Securities Corporation N/A NA NA NA NA
Manager President Securities Corporation
1. District Assistant Vice President of
Tunghsing Equity Department Manager Republic Of China Chiu,Shyh-Tyng M 2022.01.01 255,000 0.01 0 0 0 0 2. Assistant Vice President of President President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Manager of President Securities
Tunghsing Equity Department Manager Republic Of China Tsai, Shu-Mei F 2016.04.01 12 0 0 0 0 0 2. Senior Deputy Manager of President Corporation N/A NA NA NA NA
Securities Corporation
1. Senior Manager of Far Eastern
Tunghsing Equity Department Manager Republic Of China Fan,Tsung-En M 2024.10.08 0 0 0 0 0 0 2. Assistant Vice President of KGI International Bank N/A NA NA NA NA
Bank
Tunghsing Equity 1. Project Assistant Vice President of
Department Business Section 1 Republic Of China Kao, Jung M 2022.01.01 29 0 0 0 0 0 2. Branch Assistant Vice President of President Securities Corporation N/A NA NA NA NA
Manager President Securities Corporation
1. Assistant Vice President of KGI
Kaohsiung Branch Republic Of Wu, Huan- M 2013.04.01 0 0 0 0 0 0 Securities Corporation. N/A NA N/A NA NA
Manager China Chung 2. Manager of Taiwan Securities
Corporation.
1. Branch Assistant Vice President of
Dunnan Branch Manager Republic Of China Chiang, Wen-(Acting)Ling F 2023.06.01 0 0 0 0 0 0 2. Senior Manager of President President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Senior Deputy Manager of President
Zhongli Branch Manager Republic Of China Lee,Wen-Tsui F 2025.01.22 0 0 1,622 0 0 0 2. Deputy Manager of President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Sales Manager of President Securities
Chengzhong Branch Manager Republic Of China Chung, Hui-Ju F 2024.05.09 0 0 0 0 0 0 2. Sales Deputy Manager of President Corporation N/A NA NA NA NA
Securities Corporation
18
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Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
1. Deputy Manager of President
Tainan Branch Manager Republic Of China Hsieh,Chia-Hsi M 2019.01.01 0 0 0 0 0 0 2. Sales Assistant Manager of President Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Sales Assistant Vice President of
Taichung Branch Manager Republic Of China Shen, Hua-Chun M 2024.04.17 0 0 0 0 0 0 2. Deputy Manager of Ta Chong KGI Securities N/A NA NA NA NA
Securities Co., Ltd.
1. Branch Assistant Vice President of
Hsinchu Branch Manager Republic Of China Lee, Chin-Yi M 2014.09.01 0 0 0 0 0 0 2. Manager of President Securities President Securities Corporation N/A NA NA NA NA
Corporation
1. Sales Assistant Vice President of
Chiayi Branch Manager Republic Of China Tsai, Ruo-Chen F 2023.05.05 0 0 0 0 0 0 2. Sales Deputy Manager of Concord CTBC Securities Corporation N/A NA NA NA NA
Securities Corporation
1. Senior Manager of President
Pingtung Branch Manager Republic Of China Tai, Hung-Da M 2023.11.09 0 0 0 0 0 0 2. Sales Assistant Vice President of Securities Corporation N/A NA NA NA NA
KGI Securities
1. Senior Deputy Manager of President
Keelung Branch Republic Of Hung, Chien- F 2022.01.01 0 0 0 0 0 0 Securities Corporation N/A NA NA NA NA
Manager China Han 2. Deputy Manager of President
Securities Corporation
1. Senior Manager of Fubon Securities
Yonghe Branch Manager Republic Of China Liu, Han-Chou M 2024.03.05 0 0 0 0 0 0 2. Senior Manager of Jih Sun Securities Corporation N/A NA NA NA NA
Corporation
1. Sales Vice President of SinoPac
Xin Taichung Branch Manager Republic Of China Su, Chun-Lin M 2024.05.09 0 0 0 0 0 0 2. Sales Vice President of Eastspring Securities Corporation N/A NA NA NA NA
Investments
1. Manager of CTBC Securities Co.,
Hsinying Branch Republic Of Chiu,Chien- M 2024.09.16 0 0 0 0 0 0 Ltd. N/A NA NA NA NA
Manager China Feng 2. Counter Manager of E.SUN
Securities Co., Ltd.
1. Manager of Yuanta core pacific
Changhua Branch Manager Republic Of China Yu, Fu-Tsun M 2018.01.01 189,646 0.01 0 0 0 0 2. Sales of Yuanta Securities Securities Corporation. N/A NA NA NA NA
Corporation.
1. Assistant Vice President of Hua Nan
Taoyuan Branch Manager Republic Of China Chiu, Ming-Kai M 2023.04.01 0 0 0 0 0 0 2. Manager of President Securities Securities N/A NA NA NA NA
Corporation
19
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----- Start of picture text -----

Current Spouse & Minor Shareholding Managers who are Spouses or The status
by Nominee of obtaining
Nationality/ Shareholding Shareholding Within Two Degrees of Kinship
Title Country of Name Gender Date Elected Arrangement Experience (Education) Other Position employee
stock option
Origin Shares % Shares % Shares % Title Name Relation certificates
by Managers
1. Sales Assistant Vice President of
Yuanlin Branch Manager Republic Of China Huang, Chao-Cheng M 2024.11.07 0 0 0 0 0 0 2. Sales Assistant Manager of Yuanta KGI Securities Supervisor of Jifeng Paper Co., Ltd. NA NA NA NA
Securities
1. Assistant Vice President of SinoPac
Sanchung Branch Manager Republic Of China Lin, Pin-Chun M 2024.03.05 0 0 0 0 0 0 2. Assistant Manager of Mega Securities Corporation N/A NA NA NA NA
International Commercial Bank
1. Deputy Manager of Yuanta Securities
Shilin Branch Manager Republic Of China Hsu, Fu-Chiang M 2014.10.01 0 0 0 0 0 0 2. Senior Deputy Manager of KGI Corporation. N/A NA NA NA NA
Securities
1. Vice President of Jih Sun Securities
Panchiao Branch Republic Of Chiang, Chen- M 2023.06.01 0 0 0 0 0 0 Corporation N/A NA NA NA NA
Manager China Hsiung 2. Senior Manager of Taishin
International Bank .
1. Branch Assistant Vice President of
Sanduo Branch Manager Republic Of China Cheng,Chih-(Acting)Ming M 2024.10.18 0 0 0 0 0 0 2. Sales Vice President of MEGA President Securities Corporation N/A NA NA NA NA
Securities
1. Vice District Supervisor of President
Szichih Branch Republic Of Chou, Da- M 2024.03.05 0 0 0 0 0 0 Securities Corporation N/A NA NA NA NA
Manager China Kuang 2. Deputy Manager of Concords
Securities Corporation
1. Senior Manager of Taishin
Szichih Branch Republic Of Chou, Kuo- M 2024.09.16 0 0 0 0 0 0 International Bank N/A NA NA NA NA
Manager China Hsiang
2. Manager of DBS Bank
1. Deputy Manager of President
Ilan Branch Manager Republic Of China Lin, Chia-Hui F 2023.06.01 0 0 0 0 0 0 2. Senior Specialist of KGI Securities Securities Corporation N/A NA NA NA NA
Corporation
1. Manager of President Securities
Nanjing Branch Republic Of Tseng, Chien- M 2023.06.01 0 0 0 0 0 0 Corporation N/A NA NA NA NA
Manager China Ming 2. Professional Deputy Manager of
Bank Sinopac Corporation
1. Manager of Gowin Building
Kinmen Branch Manager Republic Of China Kang, Wen-Chieh M 2022.05.06 0 0 0 0 0 0 Management and Maintenance Co., Ltd. N/A NA NA NA NA
2. Acting Manager of Capital Securities
1. Senior Assistant Vice President of
Tucheng Branch Manager Republic Of China Lin, Shao-Kang M 2023.08.24 0 0 0 0 0 0 2. President of King’s Town Bank Hua Nan Securities N/A NA NA NA NA
Corporation.
1. Sales Deputy Manager of MasterLink
Songjiang Branch Manager Republic Of China Lin, Shih-Wei M 2023.06.01 0 0 0 0 0 0 2. Sales Assistant ManagerSecurities Corp. of Taishin N/A NA NA NA NA
International Bank
20
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Note: The percentages of shares are calculated based on PSC’s capital: 1,455,831,343 shares

C. Remuneration of Directors, Supervisors, President, Vice Presidents, and Chief Auditor

1. Remuneration of Directors

1.1 Remuneration of Directors (disclosing the name of each individual )

Unit: NT$ thousands

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Remuneration Relevant Remuneration Received by Directors Who are Also Employees
Total Remuneration Total Compensation Compensation
(A+B+C+D) and (A+B+C+D+E+F+G) Paid to Directors
Base Severance Pay Bonus to Ratio of Net Income Salary, Severance Pay and Ratio of Net Income from an Invested
Compensation Allowances (D) Bonuses, and Profit Sharing- Employee Bonus (G)
Title Name (A) (B) Directors (C) (%) Allowances (E) (F) (%) Company
Other than the
Company’s
PSC Group
Subsidiary and
PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group parent company
Cash Stock Cash Stock
Director Kai Nan Investment 44,977 44,977 - - 49,694 49,694 1,838 1,838 96,510 96,510 - - - - - - - - 96,510 96,510 None
Co., Ltd. 2.2069% 2.2069% 2.2069% 2.2069%
Except for the information disclosed above, the remuneration received by the Directors of the Company for providing services for all companies listed in the consolidated statements in the most recent year (such as serving as a non-employee
consultant): 0
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Note 1: The following are delegates of Kai Nan Investment Co., Ltd.: Chairman: Lin, Kuan-Chen; Directors: Liu, Tsung-Yi, Chen, Kuo-Hui, Hsieh Hung, Hui-Tzu, Lu, Li-An, Chen, Ching-Yi, Chen, Yi-Ling. Amomg them, Liu, Tsung-Yi, Hsieh Hung, Hui-Tzu, Chen, Ching-Yi, Chen, Yi-Ling were dissmissed on June 27, 2024.

Note 3: Total remuneration paid to drivers is NT$2.763 million, which was not included in consideration.

Note 4: In addition to the information disclosed in the table above, the compensation received by the company directors in the most recent fiscal year for services rendered (e.g., acting as a consultant to the parent company/all consolidated companies/transferred investment business for non-employees, etc.) ：

Note 2: Compensation was calculated as of December 31, 2024; Compensation distribution proposal is based on said earnings.

1.2 Remuneration of Directors (Independent Directors Included)

Unit: NT$ thousands

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Remuneration Relevant Remuneration Received by Directors Who are Also Employees Compensation
Total Remuneration Total Compensation Paid to
Title Name Compensation Base (A) Severance Pay (B) Directors Bonus to (C) Allowances (D) (A+B+C+D) and Ratio of Net Income (%) Allowances (E)Bonuses, and Salary, Severance Pay (F) Profit Sharing- Employee Bonus (G) Employee Stock Options (H)Exercisable New Restricted Employee Shares (I) (A+B+C+D+E+F+G+H+I) and Ratio of Net Income (%) Directors from an Invested Company
Other than the
Company’s
PSC PSC Subsidiary
PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group and parent
Cash Stock Cash Stock conmpany
Chang, Ming-
Chen
Director Delegate of Leg
Horn Investment
Co.,Ltd.
(Note 2)
Lee, Chi-Ming
Director Delegate of Hui
Tung Investment
Co.,Ltd.
Lee, Yee-Ching
Delegate of Ta
Director Le Investment
Holding Co.,
Ltd.(Note 1)
Teng, Wen-Hwi
Delegate
Director of Canking
Investment Co.,
Ltd. 2,297 2,297 - - 50,309 50,309 773 773 1.2206%53,379 1.2206%53,379 - - - - - - - - - - - - 1.2206%53,379 1.2206%53,379 None
Liu, Tsung-Yi
Delegate of
Director Kao Chyuan
Investment Co.,
Ltd.(Note 3)
Lee, Shu-Fen
Delegate of
Director China F.R.P.
Corp.
(Note 2)
Director Lee, Shu-Fen
(Note 3)
Director Duh, Bor-Tsang
(Note 2)
Director Juang, Jing-Yau
Lee,
Director Tzong-Shiun
(Note 2)
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Title		Remuneration	Remuneration	Remuneration	Remuneration	Remuneration	Remuneration	Remuneration	Remuneration	Total Remuneration (A+B+C+D) and Ratio of Net Income (%)	Total Remuneration (A+B+C+D) and Ratio of Net Income (%)		Relevant Rem	Relevant Rem	Relevant Rem	Relevant Rem	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	uneration Received by Directors Who are Also Employees	Total Compensation (A+B+C+D+E+F+G +H+I) and Ratio of Net Income (%)	Total Compensation (A+B+C+D+E+F+G +H+I) and Ratio of Net Income (%)
		Base Compensation (A)		Severance Pay (B)		Bonus to Directors (C)		Allowances (D)					Salary, Bonuses, and Allowances (E)		Severance Pay (F)			Profit Sharing- Employee Bonus (G)				Exercisable Employee Stock Options (H)		New Restricted Employee Shares (I)
		PSC	Group	PSC	Group	PSC	Group	PSC	Group	PSC	Group		PSC	Group	PSC	Group		PSC		PSC		PSC	Group	PSC	Group	PSC	Group
																		Cash	Stock	Cash	Stock
Independent Director Liang, Yann- Ping	5,764 5,764 - - - - 1,196 1,196 6,960 0.1592% 6,960 0.1592%											- - - -					- - - - - - - - 6,960 0.1592% 6,960 0.1592% None
Independent Director Pai, Chun-Nan
Independent Director Song, Yung-Fong
Independent Director Horng, Yuan-Chuan
Independent Director Yang, Hui-Chu (Note 3)
1. Description of independent directors’ remuneration payment policy, system, standards, and structure, as well as the relationship b remuneration for Independent Directors are based on the Company’s Articles of Incorporation and the degree of an Independent D 2. Except for the information disclosed above, the remuneration received by the Directors of the Company for providing services for												etween the amount of remuneration and their responsibilities, risks, and time invested: The Company’s policies and standards related to the payment of irectors’ contribution to and participation in operations with reference to the standards in the industry. all companies listed in the consolidated statements in the most recent year (such as serving as a non-employee consultant): 0

Note 1 ： Ta Le Investment Holding Co., Ltd. (Delegate : Lee, Yee-Ching) was dissmissed on May 23, 2024.

Note 2 ： Leg Horn Investment Co.,Ltd. (Delegate :Chang, Ming-Chen ) , China F.R.P. Corp.(Delegate : Lee, Shu-Fen) , Director Duh, Bor-Tsang, Director Lee, Tzong-Shiun, Independent Director Liang, Yann-Ping were dissmissed on June 27, 2024. Note 3 ： Kao Chyuan Investment Co., Ltd. (Delegate : Liu, Tsung-Yi )、Director Lee, Shu-Fen 、 Independent Director Yang, Hui-Chu assumed office on June 27, 2024.

II. Corporate Governance

Range of remuneration for directors

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Name of Directors
Total of (A+B+C+D) Total of (A+B+C+D+E+F+G)
Range of Remuneration Companies in Companies in
the consolidated the consolidated
The company financial The company financial
statements statements
Delegate of Kai Nan Investment Co., Ltd.: Liu, Tsung-
Yi, Hsieh Hung, Hui-Tzu, Lu, Li-An, Chen, Kuo-Hui,
Chen, Ching-Yi, Chen, Yi-Ling / Delegate of Canking
Investment Co., Ltd.: Teng, Wen-Hwi / Delegate of
Leg Horn Investment Co., Ltd.: Chang, Ming-Chen /
Under NT$ 1,000,000 Delegate of Hui Tung Investment Co., Ltd.: Lee, Chi- same as left same as left same as left
Ming / Delegate of Ta Le Investment Holding Co., Ltd.:
Lee, Yee-Ching / Delegate of China F.R.P Corp: Lee,
Shu-Fen/ Delegate of Kao Chyuan Investment Co.,
Ltd.: Liu, Tsung-Yi / Liang, Yann-Ping / Yang, Hui-Chu
NT$1,000,000 ~ NT$2,000,000 Pai, Chun-Nan / Song, Yung-Fong / Horng, Yuan-Chuan same as left same as left same as left
Leg Horn Investment Co., Ltd./ China F.R.P Corp / Ta
NT$2,000,000 ~ NT$3,500,000 same as left same as left same as left
Le Investment Holding Co., Ltd.
NT$3,500,000 ~ NT$5,000,000 0 0 0 0
Kao Chyuan Inv. Co., Ltd./ Hui Tung Investment Co.,
NT$5,000,000 ~ NT$10,000,000 Ltd./ Canking Investment Co., Ltd./ Juang, Jing-Yau/ same as left same as left same as left
Lee, Shu-Fen
NT$10,000,000~ NT$15,000,000 0 0 0 0
NT$15,000,000 ~ NT$30,000,000 0 0 0 0
Kai Nan Investment Co., Ltd. / Delegate of Kai Nan
NT$30,000,000 ~ NT$50,000,000 same as left same as left same as left
Investment Co., Ltd.: Lin, Kuan-Chen
NT$50,000,000 ~ NT$100,000,000 0 0 0 0
Over NT$100,000,000 0 0 0 0
Total 27 27 27 27
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2. Remuneration of the President, Vice Presidents, and Chief Auditor

Unit: NT$ thousands

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Total
Title Name Salary(A) Severance Pay (B) Bonuses and Allowances (C) Compensation (D)Profit Sharing- Employee and ratio of net compensation (A+B+C+D) income (%) stock option certificatesNumber of employee Number of stock unitrestricted any compensation other re-invested is received from businesses than Whether or not
PSC Group subsidiaries or
PSC Group PSC Group PSC Group PSC Group PSC Group PSC Group parent company
Cash Stock Cash Stock
President Yang, Kai-Chih
Specialized
Commissioner Tsai, Sen-Bu
Vice President An, Chi-Li
Vice President Huang, Jung-Jen
Vice President Pu, Chien-Heng
Vice President Wei, Chih-Hsu
Vice President Yeh, Ming-Chieh 29,540 29,540 1,156 1,156 182,436 182,436 4,880 0 4,880 0 4.9853%218,012 4.9853%218,012 0 0 0 0 None
Project Vice Chang,
President Hung-Shuo
Supervisor Vice
President Lin, Li-Lin
Investment Vice
President Lin, Chun-Kuan
Vice President Yu, Hung-Chieh
Chief Auditor Hsu, Wen-Ling
Chief
Information Lin, Jung-Hui
Officer
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Note 1 : Compensation was calculated as of December 31, 2024; Employee remuneration was estimated based on 2024 estimated statements. Note 2 : There was a personnel change of President on July 5, 2024.

Note 3: There was a personnel change of the head of Brokerage Department on June 6, 2024.

Note 4: There was a personnel change of the head of Proprietary Trading Department on July 5, 2024.

President Securities Corporation

Range of remuneration for president and vice president

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Name of President and Vice President
Range of Remuneration Companies in the consolidated
The company
financial statements
Under NT$ 1,000,000 0 0
NT$1,000,000 ~ NT$2,000,000 0 0
NT$2,000,000 ~ NT$3,500,000 0 0
NT$3,500,000 ~ NT$5,000,000 Yeh, Ming-Chieh same as left
Wei, Chih-Hsu , Lin, Jung-Hui,
NT$5,000,000 ~ NT$10,000,000 Chang, Hung-Shuo, Hsu, Wen- same as left
Ling, Yu, Hung-Chieh
NT$10,000,000 ~ NT$15,000,000 Lin, Li-Lin, An, Chi-Li same as left
Tsai, Sen-Bu, Lin, Chun-Kuan same as left
NT$15,000,000 ~ NT$30,000,000
Yang, Kai-Chih, Huang, Jun-Jen, same as left
NT$30,000,000 ~ NT$50,000,000
Pu, Chien-Heng
NT$50,000,000 ~ NT$100,000,000 0 0
Over NT$100,000,000 0 0
Total 13 13
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D. Retired Chairman and President Reappointed as Securities Broker Consultants: None.

E. Comparison of Remuneration for Directors, Supervisors, President and Vice Presidents in the Most Recent Two Fiscal Years and Remuneration Policy for Directors, Supervisors, President and Vice Presidents

1. Ratio of total remuneration paid to directors, supervisors, president and vice presidents to net income

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Year To directors (Note) To president and vice presidents (Note)
2023 3.77% 5.33%
2024 3.59% 4.98%
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Note: Ratio of total remuneration to net income (%)

2. The policies, standards, and portfolios for the payment of remuneration:

(1) According to Article 23 of the Company's Articles of Incorporation, Directors' emoluments are assessed by reference of the Directors' level of participation and contribution, and decided by Board of Directors according to average industry level. When there is profit in current year, the Company shall appropriate no more than 2% of the amount as compensation to Directors according to Article 23 of the Company's Articles of Incorporation. Independent Directors do not participate in earnings appropriation to Directors. The Company regularly assesses the remuneration of the Directors in accordance with “The Performance Evaluation Measures of the Board of Directors”. The relevant performance appraisal and the reasonableness of remuneration are reviewed by the Remuneration Committee and the Board.
(2) The Company has set up various job allowances and bonuses to the Company's managers in accordance with the Company’s remuneration policy to accommodate and reward the employees for their hard work, and such bonuses are also determined based on the Company’s annual operating performance, financial condition, operating condition and individual performance. In addition, if the Company has made a profit for the year, no less than 1.6% of the profit shall be set aside as employee compensation in accordance with Article 23 of the Company's Articles of Incorporation. The performance appraisal results performed by the Company in accordance with the “Personnel Evaluation Measures” are used as a reference for the payment of bonus to the Managers. The performance evaluation items of the Managers include (1) financial indicators (business expansion capability such as revenue achievement rate, net profit after tax achievement rate, market share or market ranking) and (2) non-financial indicators (personnel management ability and improvement of internal process, internal control and risk control capability) and Company core value evaluation.

2024 Annual Report

II. Corporate Governance

The Company reviews the remuneration system based on actual operation status and relevant laws on a timely basis.

(3) The remuneration package of the Company shall be determined in accordance with the Remuneration Committee's Articles of Incorporation, including cash remuneration, share options, bonus shares, retirement benefits or termination benefits, various allowances and other practical incentives. The scope of remuneration paid to directors and managers is in line with what is defined in Regulations Governing Information to be Published in Annual Reports of Public Companies.

3. Procedures for determining remuneration:

(1) The periodic assessment of the remuneration to Directors and managers are respectively based on the evaluation results performed by the Company’s “The Performance Evaluation Measures of the Board of Directors” and the “Personnel Appraisal Measures” applicable to managers and employees, and the remuneration of the Chairman and President is determined with reference to the general standards of the industry and linked to the Company's operating performance indicators, which will be submitted to the Board for approval.
(2) The performance self-assessment results of the Board of Directors, members of the Board and various functional committees for 2024 were all “exceeded standard”.
(3) The relevant performance appraisal and reasonableness of remuneration of the Directors and managers of the Company are evaluated and reviewed regularly by the Remuneration Committee and the Board on annual basis. In addition to reviewing the personal performance achievement rate and contribution to the Company, the Company’s overall operating performance, future risks and development trends of the industry as well as the actual operating conditions and relevant laws and regulations will be used as reference to timely review the compensation system. Reasonable remuneration shall be given after taking into account the current corporate governance trends so as to strike a balance between the Company’s sustainable operation and risk management. The actual amount of remuneration paid to Directors and Managers for 2024 is reviewed by the Remuneration Committee and proposed to the Board for approval.

4. The correlation between operating performance and future risks:

(1) The review of the remuneration policy, relevant benefit standards and system is based on the Company's overall operating conditions, and the payment standards are approved based on the performance achievement rate and contribution to enhance the effectiveness of the overall organizational team of the Board and the management team. The Company also refers to industry compensation standards to ensure that the remuneration to the Company's management is competitive in the industry so as to retain the best management talent.
(2) The performance targets of the Company’s managers are integrated with “risk control or internal control” to ensure that the possible risks within the scope of their duties are managed and avoided. The appraisal is given based on actual performance, and are linked to the relevant human resources and remuneration policies. Key decisions made by the management of the Company are based on a balanced range of risk factors, the performance of which is reflected in the profitability of the Company, and the remuneration of the management is thus relevant to the performance of risk control.

President Securities Corporation

F. President’s, senior vice presidents’ and senior managers’ remuneration

Unit: NT$ thousands

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Employee Compensation Employee Ratio of Total
Title Name - in Stock (Fair Market Compensation Total Amount to Net
Value) - in Cash Income(%)
President Yang, Kai-Chih
President Office Specialized
Tsai, Sen-Bu
Commissioner
Finance Department Vice President An, Chi-Li
Quantitative Trading Department
Huang, Jung-Jen
Vice President
Financial Product Department Vice
Pu, Chien-Heng
President
Capital Market Department Vice
Wei, Chih-Hsu
President
Fixed Income Department Vice
Yeh, Ming-Chieh
President
Administration Department Vice
Yu, Hung-Chieh
President
President Office Corporate Vice
Chen, Nai-Chen
President
Information System Department
Lin, Jung-Hui
Vice President
Proprietary Trading Department
Lin, Chun-Kuan (Acting)
Investment Vice President
Shareholder Sevices Department
Chueh, Chih-Chung
Sales Vice President
Auditing Office Chief Auditor Hsu, Wen-Ling
0 16,153 16,153 0.3694
Quantitative Trading Department
Lee, Chien-Hsin
Specialized Vice President
Quantitative Trading Department
Chien, Pang-Yen
Specialized Vice President
President Office Project Vice
Chang, Hung-Shuo
President
Capital Market Department Senior
Chiang, Chang-Kuen
Assistant Vice President
Capital Market Department Senior
Lin, Wei-Hung
Assistant Vice President
Finance Department Assistant Vice
Su, Wei-Lun
President
Financial Product Department
Chang, Chung-Lin
Assistant Vice President
Shareholder Services Department
Chang, Shao-Ping
Assistant Vice President
Settlement & Clearing Department
Wu, Sheng-Yu
Senior Assistant Vice President
Capital Market Department
Chen, Chia-Chang
Assistant Vice President
Information System Department
Hu, I-Der
Assistant Vice President
Settlement & Clearing Department
Huang Chi-Ming
Assistant Vice President
Risk Control Office
Chang, Ping-Chuan
Assistant Vice President
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2024 Annual Report

II. Corporate Governance

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Employee Compensation Employee Ratio of Total
Title Name - in Stock (Fair Market Compensation Total Amount to Net
Value) - in Cash Income(%)
General Affairs Department
Chen, Shu-Fen
Assistant Vice President
Capital Market Department
Hsu, Hui-Chun
Assistant Vice President
Capital Market Department
Yeh, I- Lin
Assistant Vice President
Administration Department
Wu, Fang-Ling
Assistant Vice President
Information System Assistant Vice
Liu, Chia-Hao
President
Compliance Division Assistant Vice
Su, Yung-Hsin
President
Capital Market Department
Lu, Hung-Ming
Specialized Assistant Vice President
Compliance Division Senior
Su, Yung-Hsin
Manager
Brokerage Department
Heads of Department Lin, Li-Lin (Acting)
Supervisor Vice President
Brokerage Department
Hsu, Sheng-Hsiang
Vice District Supervisor
Brokerage Department
Lin, Yu-Ju
Vice District Supervisor
Brokerage Department
Cheng,Chih-Ming
Vice District Supervisor
Acting Brokerage Department Vice
Chiang, Wen- Ling
District Supervisor
Brokerage Department Global (same as the last page)
Wealth Management Division Wang, Ssu-Wei
Specialized Vice President
Global Institutional Service
Department Institutional Service Wang, Shi-Cheng
Vice President
Brokerage Department Debit Center
Chu, Chen-Pu
Assistant Vice President
Brokerage Department Digital Busi-
Tsai, Shu-Mei (Acting)
ness Department Manager
Brokerage Department Digital
Finance Department Liu, Chun-Liang
Assistant Vice President
Prestige Wealth Center in Northern
Cheng, Hsin-Ti
Region Assistant Vice President
Wealth Manager and Trust
Department Kao, Hsiu-Lin
Senior Deputy Manager
Tunghsing Equity Department
Chiu, Shyh-Tyng
Manager
Tunghsing Equity Department
Tsai, Shu-Mei
Manager
Tunghsing Equity Department
Fan, Tsung-En
Manager
Tunghsing Equity Department
Kao, Jung
Business Section 1 Manager
Kaohsiung Branch Manager Wu, Huan-Chung
Chiang, Wen- Ling
Dunnan Branch Manager
(Acting)
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President Securities Corporation

==> picture [484 x 721] intentionally omitted <==

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

Employee Compensation Employee Ratio of Total
Title Name - in Stock (Fair Market Compensation Total Amount to Net
Value) - in Cash Income(%)
Zhongli Branch Manager Li, Wen-Tsui
Chengzhong Branch Manager Chung, Hui-Ju
Tainan Branch Manager Hsieh, Chia-Hsi
Taichung Branch Manager Shen, Hua-Chun
Hsinchu Branch Manager Lee, Chin-Yi
Chiayi Branch Manager Tsai, Ruo-Chen
Pingtung Branch Manager Tai, Hung- Da
Keelung Branch Manager Hung, Chien- Han
Yonghe Branch Manager Liu, Han-Chou
Xin Taichung Branch Manager Su, Chun-Lin
Hsinying Branch Manager Chiu, Chien-Feng
Changhua Branch Manager Yu, Fu-Tsun
Taoyuan Branch Manager Chiu, Ming-Kai
Yuanlin Branch Manager Huang, Chao-Cheng (same as the last page)
Sanchung Branch Manager Lin, Pin-Chun
Shilin Branch Manager Hsu, Fu-Chiang
Panchiao Branch Manager Chiang, Chen -Hsiung
Cheng,Chih-Ming
Sanduo Branch Manager
(Acting)
Szichih Branch Manager Chou, Da-Kuang
Szichih Branch Manager Chou, Kuo-Hsiang
Ilan Branch Manager Lin, Chia-Hui
Nanjing Branch Manager Tseng, Chien-Ming
Kinmen Branch Manager Kang, Wen-Chieh
Tucheng Branch Manager Lin, Shao-Kang
Songjiang Branch Manager Lin, Shih-Wei
Songjiang Branch Manager Huang, Tung-He
Neihu Branch Manager Huang, Chih-Hua
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2024 Annual Report

II. Corporate Governance

==> picture [484 x 139] intentionally omitted <==

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

Employee Compensation Employee Ratio of Total
Title Name - in Stock (Fair Market Compensation Total Amount to Net
Value) - in Cash Income(%)
Renai Branch Manager Wu, Yueh-Chung
Pingzhen Branch Manager Li, Shu-Jung
(same as the last page)
Zhunan Branch Manager Ma, Hsiang-Yi
Offshore Securities Unit Branch
Lin, Li-Lin (Acting)
Manager
----- End of picture text -----

President Securities Corporation

II. Implementation of Corporate Governance

A. Board of Directors Meeting

Total of 6 meetings of the board of directors were held in the year of 2024. Directors’ attendance condition:

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

Attendance
Title Name in Person By Proxy Attendance rate (%) Remark
Re-election
Chairman Lin, Kuan-Chen Delegate of 6 0 100% Six board meetings were
Kai Nan Investment Co., Ltd. held during the term of office.
Re-election
Director Chen, Kuo-Hui Delegate of 6 0 100% Six board meetings were
Kai Nan Investment Co., Ltd. held during the term of office.
Re-election
Director Lu, Li-An Delegate of Kai 6 0 100% Six board meetings were
Nan Investment Co., Ltd. held during the term of office.
Elected on 2024.06.27
Director Liu, Tsung-Yi Delegate of 4 0 100% Four board meetings were
Kao Chyuan Inv. Co., Ltd. held during the term
of office.
Re-election
Director Teng, Wen-Hwi Delegate of 5 1 83% Six board meetings were
Canking Investment Co., Ltd. held during the term of office.
Lee, Chi-Ming Delegate of Re-election
Director Hui Tung Investment Co., 5 1 83% Six board meetings were
Ltd. held during the term of office.
Elected on 2024.06.27
Four board meetings were
Director Lee, Shu-Fen 3 1 75%
held during the term
of office.
Re-election
Director Juang, Jing-Yau 6 0 100% Six board meetings were
held during the term of office.
Re-election
Independent Pai, Chun-Nan 6 0 100% Six board meetings were
Director held during the term of office.
Re-election
Independent Director Song, Yung-Fong 5 1 83% held during the term of office.Six board meetings were
Re-election
Independent Director Horng, Yuan-Chuan 6 0 100% held during the term of office.Six board meetings were
Elected on 2024.06.27
Independent Director Yang, Hui-Chu 4 0 100% Four board meetings were held during the term
of office.
Resigned on 2024.06.27
Director Liu, Tsung-Yi Delegate of Kai 2 0 100% Two board meetings
Nan Investment Co., Ltd. were held during the
term of office.
Resigned on 2024.06.27
Hsieh Hung, Hui-Tzu
Two board meetings
Director Delegate of Kai Nan 2 0 100%
were held during the
Investment Co., Ltd. term of office.
Resigned on 2024.06.27
Director Chen, Ching-Yi Delegate of 2 0 100% Two board meetings
Kai Nan Investment Co., Ltd. were held during the
term of office.
Resigned on 2024.06.27
Director Chen, Yi-Ling Delegate of 2 0 100% Two board meetings
Kai Nan Investment Co., Ltd. were held during the
term of office.
Resigned on 2024.06.27
Chang, Ming-Chen Delegate
Two board meetings
Director of Leg Horn Investment Co., 2 0 100%
were held during the
Ltd. term of office.
Dismissal in accordance with the
Lee, Yee-Ching Delegate of law on 2024.05.23
Director Ta Le Investment Holding 2 0 100% Two board meetings
Co., Ltd. were held during the
term of office.
----- End of picture text -----

2024 Annual Report

II. Corporate Governance

Title Name Attendance in Person By Proxy Attendance rate (%) Remark
Director Lee, Shu-Fen Delegate of China F.R.P Corp. 2 0 100% Resigned on 2024.06.27 Two board meetings were held during the term of ofce.
Director Duh, Bor-Tsang 1 1 100% Resigned on 2024.06.27 Two board meetings were held during the term of ofce.
Director Lee, Tzong-Shiun 2 0 100% Resigned on 2024.06.27 Two board meetings were held during the term of ofce.
Independent Director Liang, Yann-Ping 2 0 100% Resigned on 2024.06.27 Two board meetings were held during the term of ofce.

Other mentionable items: A. If any of the following circumstances occur, the dates of the meetings, sessions, contents of motion, all independent directors’ opinions and the company’s response should be specified: 1. Matters referred to in Article 14-3 of the Securities and Exchange Act: PSC held 7 board meetings over the past fiscal year and the contents of the resolutions were refer to Chapter 2 (K) of the annual report. Did not have any matters listed in Article 14-3 of the Securities and Exchange Act or other matters not passed by the independent directors. 2. Other matters involving objections or expressed reservations by independent directors that were recorded or stated in writing that require a resolution by the board of directors: None. B. If there are directors’ avoidance of motions in conflict of interest, the directors’ names, contents of motion, causes for avoidance and voting should be specified: 1. For the 16th proposal at the 16th meeting of 12th Board of Directors, regarding the proposal of relieving the non- compete clause of the Company's Directors. The Company has authorized Chairman Lin, Kuan-Chen to act as a Director in the joint venture company Jin Yuan President Securities Corporation Ltd. According to Article 209, Paragraph 1 of the Company Act: ”A director who does anything for himself or on behalf of another person that is within the scope of the company's business, shall explain to the meeting of shareholders the essential contents of such an act and secure its approval”. The proposal of relieving the non-compete clause for the 13th Director candidate Kuan-Chen Lin to act as the Director of Jin Yuan President Securities Corporation Ltd. In accordance with the provisions of Article 15 of the Company’s Rules Governing Board Meetings,the Chairman of the Board desigated Independent Director Pai, Chun-Nan as the acting chairman to preside over the matters related to discussing this proposal. Chairman Lin, Kuan-Chen left the meeting because he was not allowed to participate in the discussion of and voting on this proposal. The proposal has been passed unanimously by the members of the Directors who were present without any objection (the Chairman had recused himself from voting). 2. For the 23rd proposal for the review of the nomination of 13th Directors and Independent Directors at the 16th Board meeting of the 12th Board of Directors, in accordance with the provisions of Article 15 of the Company's Rules Governing Board Meetings, the current Directors and Independent Directors, who have personal interest in nominated candidates for Directors and Independent Directors under review, shall recuse themselves from the review session (as shown below).All nominees have submitted the details of their education, experience, current position, juristic person represented, and other evidences to the Board of Directors for review. Independent Director Pai, Chun-Nan acted on behalf of Chairman Kuan-Chen Lin as chair to host the review when the Chairman recused himself from the review session.The chairman has the assent of all the members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.(Avoidance of directors had recused himself from voting.) Directors under audition/ Nominee of independent director Avoidance of interested parties Delegate of Kai Nan Investment Co., Ltd.: Lin,Kuan-Chen,Chen,Kuo-Hui,Lu,Li-An Lin, Kuan-Chen, Liu, Tsung-Yi, Chen, Kuo-Hui, Hsieh Hong, Hui-Tzu, Lu, Li-An, Chen, Ching-Yi, Chen, Yi-Ling (Lin, Kuan-Chen desigated Pai, Chun-Nan as the acting chairman.) Liu, Tsung-Yi Delegate of Kao Chyuan Inv. Co.,Ltd. Teng, Wen-Hwi Delegate of CankingInvestment Co.,Ltd. Teng, Wen-Hwi Lee, Chi-Ming Delegate of Hui Tung Investment Co., Ltd. Lee, Chi-Ming Lee,Shu-Fen Lee,Shu-Fen Juang, Jing-Yau Juang, Jing-Yau Pai, Chun-Nan Pai, Chun-Nan Song, Yung-Fong Song, Yung-Fong Horng, Yuan-Chuan Horng, Yuan-Chuan

President Securities Corporation

	3.	For the 21th proposal for adjustment of 13th Independent Directors' remuneration at the 2nd board meeting of the 13th
		Board of Directors, in accordance with Article 19 of the Company's Articles of Incorporation, the Board of Directors were
		authorized to determine the Directors' remuneration based on the degree of individual participation in and contribution
		to the Company as well as the standards in the industry. Independent Directors are paid monthly with a fixed amount
		and do not participate in the distribution of Directors’remuneration set out in Article 23. Due to the fact that this
		proposal involves the remuneration of independent directors, all independent directors: Pai, Chun-Nan, Song, Yung-Fong,
		Horng, Yuan-Chuan and Yang, Hui-Chu abstained from the discussion and voting of this proposal. After the Chairman
		put forward the proposal for approval, it was passed unanimously by the Directors present at the meeting without any
		objections (excluding Directors who recused themselves from voting).
	4.	For the 22th proposal for the 13th Chairman's remuneration at the 2nd board meeting of the 13th Board of Directors,
		in accordance with the provisions of Article 196 of the Company Act and Article 19 of the Company's Articles of
		Incorporation, the remuneration with a reference to the industry levels was proposed to the Board of Directors, and
		the Chairman might participate in the distribution of profit-sharing bonus according to the Company's operational
		performance. The Remuneration Committee made this proposal after discussion. In accordance with the provisions
		of Article 15 of the Company's Rules Governing Board Meetings, the Chairman of the Board designated Independent
		Director Pai, Chun-Nan as the acting chairman to preside over the discussion of this proposal. Chairman Lin, Kuan-
		Chen left the meeting because he was not allowed to participate in the discussion of and voting on this proposal. After
		the Deputy Chairman put forward the proposal for approval, it was passed unanimously by the Directors present at the
		meeting without any objections (excluding the Chairman who recused himself from voting).
	C.	Companies listed on stock and OTC markets shall disclose information on the evaluation cycle, period, scope,
		method, and content of the Board’s self (or peer) evaluation, and shall complete Schedule 2 (2) on the implementation
		of the evaluation of the Board of Directors: See chart B on the next page.
	D.	Measures taken to strengthen the functionality of the board (e.g. The Board of Directors has established an Audit
		Committee and a Remuneration Committee to assist the board in carrying out its various duties.):
		To strengthen the competencies of the Board of Directors and the overall risk management system, the Board of Directors set
		up Independent Directors and established the Audit Committee, Remuneration Committee, Risk Management Committee,
		and Sustainability and Strategic Development Committee to meet the governance requirements of listed companies. To
		enhance the implementation of corporate governance, the Company has established the “Procedures for Handling Material
		Internal Information”, “Sustainable Development Best Practice Principles”, “Ethical Corporate Management Best Practice
		Principles”, “Corporate Governance Best Practice Principles”, “The Performance Evaluation Measures of the Board of
		Directors” , and “The Standard Procedures of Demands of Directors”, which are implemented by relevant units on a level-
		by-level basis.

Note: The term of office of the 12th Board of Directors is from July 20, 2021 through July 19, 2024. The term of office of the 13th Board of Directors is from June 27, 2024 through June 26, 2027.

2024 Annual Report

II. Corporate Governance

Independent director attendance is detailed below:

◎: Attendance in Person; ☆ : Proxy Attendance; ＊ : Absence

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Board meetings 2024.03.04 2024.05.08 2024.07.05 2024.08.28 2024.11.06 2024.12.25
Pai, Chun-Nan ◎ ◎ ◎ ◎ ◎ ◎
Song, Yung-Fong ◎ ◎ ☆ ◎ ◎ ◎
Horng, Yuan-Chuan ◎ ◎ ◎ ◎ ◎ ◎
Yang, Hui-Chu ◎ ◎ ◎ ◎
Liang, Yann-Ping ◎ ◎
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B. Evaluation of the Board of Directors

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Evaluation
Evaluation period Evaluation scope Evaluation method Content
cycle
1. Composition of the Board of Directors
2. Teaching of the Board of Directors
3. Authorization of the Board of Directors
4. Supervision of the Board of Directors
Times / Evaluation of external
2022/9/1~2023/8/31 Board of Directors 5. Communication of the Board of Directors
3 year professional institution
6. Internal controls and risks management
7. Self-Demanding of the Board of Directors
8. Other things like meetings of the Board of
Directors and System-supporting
1. Involvement in the Company’s operations
2. Improving decision-making by the Board of
Directors
Internal self-evaluation
3. Composition and structure of the Board of
Annually 2023/7/1~2024/6/30 Board of Directors of the Board of Directors
Directors
4. Election of Directors and their continuing
education and training
5. Internal controls
1. Control over the Company’s goals and tasks
2. Understanding of duties and functions of a
Director
3. Involvement in the Company’s operations
Self-evaluation of
Annually 2023/7/1~2024/6/30 Individual Directors 4. Management of internal relations and
Directors
communication
5. Professional and continuing education and
training for Directors
6. Internal Control
1. Involvement in the Company’s operations
2. Understanding of duties and functions of a
functional committee
Self-evaluation of 3. Improving decision-making by the functional
Annually 2023/7/1~2024/6/30 Functional committees functional committees committees
4. Composition and structure of the functional
committees
5. Internal controls
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President Securities Corporation

C. Operations of the Audit Committee: Number of Meetings, Actual Attendance Rate of each Independent Director, and other mentionable items

The Company established its Audit Committee in June of 2015. The main key points of functional authority to be audited are as follows:

Adoption or amendment of internal control systems in accordance with Article 14-1 of the Securities and Exchange Act.
Evaluation of the effectiveness of internal control systems.
Adoption or amendment, pursuant to Article 36-1 of the Act, of handling procedures for financial or operational actions of material significance, such as acquisition or disposal of assets, derivatives trading, extension of monetary loans to others, and endorsements or guarantees for others.
Items involving the interests of Directors.
Major assets or derivative trading.
Major loaning of funds, making of endorsements, or provision of guarantees.
Offering, issuance, or private placement of any equity-type securities.
Appointment, dismissal, and compensation of CPAs.
Appointments and dismissal of finance managers, accounting managers, and internal audit managers.
The annual financial statements were signed or sealed by the Chairman, managers, and accounting manager while the second quarter financial statements were audited by CPAs who attested to their accuracy.
Other major items required by other companies or the competent authority.

Total of 5 meetings of the Audit Committee were held in the year of 2024. Independent Directors’ attendance condition:

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Actually Number Number of
Actual Attendance
Title Name of Times Attended Times Attended Remark
Rate (%) (B/A)
(B) by Proxy
Re-election
Five Audit Committee
Independent Director Pai, Chun-Nan 5 0 100%
meetings were held
during the term of office
Re-election
Five Audit Committee
Independent Director Song, Yung-Fong 5 0 100%
meetings were held
during the term of office
Re-election
Five Audit Committee
Independent Director Horng, Yuan-Chuan 5 0 100%
meetings were held
during the term of office
Elected on 2024.06.27
Three Audit Committee
Independent Director Yang, Hui-Chu 3 0 100%
meetings were held
during the term of office
Resigned on 2024.06.27
Two Audit Committee
Independent Director Liang, Yann-Ping 2 0 100%
meetings were held
during the term of office
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2024 Annual Report

II. Corporate Governance

Other mentionable items:

A. If any of the following circumstances occur, the dates, terms of the meetings, contents of motions, dissenting opinions from independent directors, reserved opinions or major suggestions, the resolutions of the Audit Committee, and the Company's response to the Audit Committee's opinions.
I. Matters referred to in Article 14-5 of the Securities and Exchange Act: Total of 7 meetings were held in 2024 and 2025 to the publish date of the annual report. For matters referred to in Article 14-5 of the Securities and Exchange Act, all members present voted in favor of the resolution without any objection.
II. Other matters which were not approved by the Audit Committee but were approved by two-thirds or more of all directors: None.
B. If there are independent directors’ avoidance of motions in conflict of interest, the directors’ names, contents of motion, causes for avoidance and voting should be specified: None.
C. Communications between the independent directors, the Company’s internal audit supervisors and CPAs (e.g. the material items, methods and results of audits of corporate finance or operations, etc.):
Communications with the internal audit supervisors:
Communication methods:
- (1) Every month, the Company compiles an internal audit deficiency report and submits it to the independent directors for review via email.
- (2) The internal audit supervisor of the Company holds regular internal control deficiency review meetings with independent directors every year. During the meetings, the results of the internal audit and the improvement status of the deficiencies mentioned in the correspondence from competent authorities are discussed, and a two-way communication and review process is carried out.
- (3) The Company's Audit Committee is comprised of all independent directors. The internal audit supervisor of the Company attends the Audit Committee regularly to report on internal audit operations every year.
Summary of communication between independent directors (Audit Committee) and the internal auditor supervisors:

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Date of meetings Communication and results of implementation
2024.02.23 1. Internal Audit Supervisor reported the tracking status from the last meeting.
(Independent Directors and 2. Internal Audit Supervisor presented the internal audit deficiency report and the improvement status from January 2024
Internal Audit Supervisor to January 2024.
communicate through the 3. Independent Directors’ suggections: The units with the highest accumulated number of missing items in 2023 are
internal control deficiency required to submit a written improvement report. Subsequently, the highest-level supervisor of the supervising unit will
review meeting) provide strengthened guidance and support for improvement.
2024.02.23
1. Internal Audit Supervisor reported the internal audit business.
(Internal Audit Supervisor
2. Independent Directors’ suggections: Ensure that all related losses incurred due to the host communication protocol
attended and reported at the
conversion anomaly are fully recorded.
Audit Committee meeting)
2024.04.25 1. Internal Audit Supervisor reported the tracking status from the last meeting.
(Independent Directors and 2. Internal Audit Supervisor presented the internal audit deficiency report and the improvement status from February 2024
Internal Audit Supervisor to March 2024.
communicate through the 3. Independent Directors’ suggections: When a staff member commits a high-risk violation, the department supervisor
internal control deficiency should notify the individual of the specific issue. If a high-risk deficiency pattern occurs two or more times within the
review meeting) same year, it must be reported concurrently to the third-level supervisor.
2024.04.25
(Internal Audit Supervisor 1. Internal Audit Supervisor reported the internal audit business.
attended and reported at the 2. Independent Directors' suggections:None.
Audit Committee meeting)
2024.08.14
1. Internal Audit Supervisor reported the tracking status from the last meeting.
(Independent Directors and 2. Internal Audit Supervisor presented the Notification Letter from the competent authority containing the deficiency
Internal Audit Supervisor
report during April 2024 to June 2024.
communicate through the
internal control deficiency 3. Independent Directors’ suggections: If customer's breach of contract results in a price difference loss of NT$1 million
(inclusive) or more, a proposal report will be presented at the Audit Committee meeting.
review meeting)
2024.08.14
(Internal Audit Supervisor 1. Internal Audit Supervisor reported the internal audit business.
attended and reported at the 2. Independent Directors’ suggections: None.
Audit Committee meeting)
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President Securities Corporation

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Date of meetings Communication and results of implementation
2024.10.23
1. Internal Audit Supervisor reported the tracking status from the last meeting.
(Independent Directors and 2. Internal Audit Supervisor presented the internal audit deficiency report and the improvement status from July 2024 to
Internal Audit Supervisor
September 2024.
communicate through the
internal control deficiency 3. Independent Directors’ suggections: The company should re-evaluating the approval process for customer KYC
compliance and credit limits.
review meeting)
2024.10.23
(Internal Audit Supervisor 1. Internal Audit Supervisor reported the internal audit business.
attended and reported at the 2. Independent Directors’ suggections: None.
Audit Committee meeting)
2024.12.11 1. Internal Audit Supervisor reported the tracking status from the last meeting.
(Independent Directors and 2. Internal Audit Supervisor presented the internal audit deficiency report and the improvement status from October 2024
Internal Audit Supervisor to October 2024.
communicate through the 3. Independent Directors’ suggections: A year-end summary report should be conducted each year, explaining the the
internal control deficiency status of the guidance and corrective actions of units with a high proportion of accumulated missing items each quarter
review meeting) , and the units that have been requested for improvement by the supervisory authorities.
2024.12.11
1. Internal Audit Supervisor reported the internal audit business.
(Internal Audit Supervisor
2. Independent Directors’ suggections: Recently, the media reported frequent financial fraud incidents, reminding
attended and reported at the
companies to be realistic in promoting and implementing the care of the elderly and related operating procedures.
Audit Committee meeting)
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Communications with the CPA:
Communication methods: The Audit Committee of the Company consists of all the independent directors. The CPA holds a meeting with the Audit Committee at least twice a year. At the meeting, the auditing of the Company’s financial status and audit results shall be reported and updates on important regulations shall also be reported.
A separate meeting between independent directors (the Audit Committee) and CPA is held at least once a year. 3. Summary of communication between independent directors (the Audit Committee) and CPA and results of implementation:

Date of meetings	Participants	Communication and results of implementation
2024.02.23 Independent Director Liang, Yann-Ping Independent Director Pai, Chun-Nan Independent Director Song, Yung-Fong Independent Director Horng, Yuan-Chuan CPA Lin, Se-Kai CPA Tang,Yung-Wei 1. The CPAs reporting audit fndings and key audit items of fnancial statements of 2023. 2. The CPA reports on 2024 planning stage, audit plan, and communication with governance units. 3. The auditor explained the accounting treatment of carbon emission trading, important considerations for revising the Corporate Governance Evaluation System, and key factors for revising the Proft- Seeking Enterprise Income Tax Audit criteria. 4. The CPA reports information of Audit Quality Indicators (AQIs). 5. Independent Directors’ suggestions: None. 6. Reporting to the Board of Directors after approval.
2024.02.23 (Separately Communication Meetings between Independent Directors and the CPA.) Independent Director Liang, Yann-Ping Independent Director Pai, Chun-Nan Independent Director Song, Yung-Fong Independent Director Horng, Yuan-Chuan CPA Lin, Se-Kai CPA Tang,Yung-Wei 1. The CPA reported on communications with governance units and communicated separately with Audit Committee members. 2. Summary of Independent Director’s remarks: Inquire about the Company's information security concerns and seek professional advice from the CPA. The CPA replied: In recent years, the Company has to develop phased plans for EOS and other related matters due to the issue of information security. As a result, the allocation of Company resources in response to these issues has become more crucial. Furthermore, the sharing of relevant case studies with industry peers also provided for these issues. 3. Independent Directors’ suggestions: Please ensure that the Chief Information Security Ofcer presents a project report at the upcoming Strategy Development Committee meeting. 4. Implementation Status: The Chief Information Security Ofcer had presented a project report at the Strategy Development Committee meeting on April 25, 2024.

2024 Annual Report

II. Corporate Governance

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Date of meetings Participants Communication and results of implementation
1. The CPAs reporting audit findings and key audit items of financial statements in the first half of 2024.
2. The CPAs reported matters on governance related to financial reporting that required communication
in the first half of 2024.
3. Introduction to the Auditors' Explanatory of the blueprint for IFRS Sustainable Disclosure Standards
and Internal Control System for Managing Sustainable Information.
4. Independent Directors’ suggestions: None.
5. Reporting to the Board of Directors after approval.
Matters of communication between the accountant and independent directors:
1. Summary of Independent Director’s remarks: Do all service items entrusted to
Independent Director PricewaterhouseCoopers Taiwan by the Company fall within the Company's outsourced operations
Yang, Hui-Chu risk assessment items?
Independent Director
The CPA replied: Cases pertaining to consulting types do not fall within the scope mandated by the
Pai, Chun-Nan
2024.08.14 Independent Director competent authority and must still comply with the case selection criteria specified in the regulations.
Song, Yung-Fong
2. Summary of The CPA’s remarks: Currently, the interval between meetings of the Review Committee
Independent Director
and the Board of Directors exceeds seven days, which is quite stringent. It is recommended that this
Horng, Yuan-Chuan
interval be reduced, as doing so would enhance the Company's Corporate Governance Evaluation
CPA Lin, Se-Kai
System score.
Independent Director replied: If the accountant offers suggestions that may enhance the Company’s
corporate governance evaluation results, the Company should carefully review and assess the
feasibility of implementing those recommendations.
3. Independent Directors’ suggestions: The Finance Department has submitted a proposal for discussion
concerning the interval dates between the Review Committee and the Board of Directors, which will
be presented at the upcoming Review Committee meeting.
4. Implementation Status:The Finance Department submitted a proposal to the Review Committee on
October 23, which was subsequently discussed and approved. The schedule for the discussion of the
annual financial report has been confirmed for both meetings.
1. The CPAs reporting audit findings and key audit items of financial statements of 2024.
2. The CPA reports on 2025 planning stage, audit plan, and communication with governance units.
3. The auditor explained the amendment to Article 14 of the Securities and Exchange Act and partial
amendments to the Statute for Industrial Innovation.
Independent Director 4. The CPA reports information of Audit Quality Indicators (AQIs).
Yang, Hui-Chu 5. Independent Directors’ suggestions: None.
Independent Director 6. Reporting to the Board of Directors after approval.
Pai, Chun-Nan
2025.02.26 Independent Director Summary of Independent Director’s remarks:
Song, Yung-Fong 1. The independent director sought clarification on the reasons, significance, disclosure circumstances,
Independent Director and background of Deloitte Hua Yong CPAs, as well as the timing of the audit, in relation to the
Horng, Yuan-Chuan change of accounting firms for the investment company, Jinyuan President Securities.
CPA Kuo, Puo-Ju. 2. The independent director sought to understand the content of the amendment to Article 14 of the
CPA Tang, Yung-Wei Securities and Exchange Act, particularly the calculation standards for the monthly average salary of
grassroots employees, including the components that constitute regular salary.
3. The independent director inquired about and sought to understand the potential impact of the
management's definition of performance measurement under IFRS 18 on the Company's business
strategy.
1. The CPA reported on communications with governance units and communicated separately with
Audit Committee members.
2. Summary of Independent Director’s remarks: Areas of improvement for President Securities.
The CPA replied: President Securities will comply with regulations set by the relevant authorities,
Independent Director including the preparation of financial reports. The Company remains committed to proactively
Yang, Hui-Chu
2025.02.26 Independent Director meeting these requirements. Currently, regulatory focus is shifting toward ESG-related matters, and
the Company is actively aligning its practices to stay in step with emerging trends.
(Separately Pai, Chun-Nan
Communication Independent Director 3. Summary of Independent Director’s remarks: Currently, President Securities faces competition primarily from financial holding companies, which benefit from access to extensive group resources.
Meetings between Song, Yung-Fong
In light of this, we would like to present several recommendations for the Company’s consideration.
Independent Directors Independent Director
The CPA replied: Currently, most companies are placing strong emphasis on information system
and the CPA.) Horng, Yuan-Chuan security and the application of artificial intelligence (AI). In terms of information security, we offer a
CPA Kuo, Puo-Ju.
range of services to help organizations continuously strengthen their protection measures. As for AI
CPA Tang, Yung-Wei
adoption, many companies are in the initial stages of establishing frameworks and procedures, with
practical implementation to follow. We will continue to engage with these companies and provide
relevant insights to support their progress.
4. Independent Directors’ suggestions: None.
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President Securities Corporation

Note: Major Resolutions during the Auditing Meetings in 2024 and 2025 to the publish date of the annual report: Executed according to the resolution of the Audit Committee.

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Meeting Item Resolution
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Meeting	Item	Resolution

2024.02.23 The 14th Auditing Meeting of the 3rd Audit Committee	1. Review of 2023 individual financial statements and the consolidated financial statements. 2. Evaluation of the independence and competency of CPA. 3. Annual plan for promoting sustainable development and annual execution plans for ESG matters 4. Establish Procedure for Preparation and Assurance for Sustainability Report 5. Amendment to the Articles of Incorporation. 6. Amendment to the Audit Committee Charter. 7. Amendment to the Rules and Regulations for Board Meetings. 8. Report of 2023 Legal compliance risk evaluation. 9. Report of 2023 money laundering and terrorist financing risk assessment. 10. Report of 2023 statement of Internal Control over AML/CFT. 11. Submitted the Statement of the 2023 Internal Control System. 12. Amendment to Internal Control System. 13. Implementation and self-evaluation of the Principle of fair treatment to consumers from October to December in 2023.	With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.
2024.04.25 The 15th Auditing Meeting of the 3rd Audit Committee	1. Amendment to Internal Control System. 2. Review of 2023 business report and earnings distribution proposal. 3. Application for Acquisition and Disposal of UPAMC ETF. 4. Amendments to the regulations on the management of credit transaction account securities quota. 5. Amendments to the statement of applicability of the information security management system. 6. Establishment of the reporting procedure for major incidents 7. Establishment of the guidelines for the implementation of Directors' education. 8. Relieved the non-compete limitation for the Directors. 9. Implementation of the Principle of fair treatment to consumers from January to March in 2024.	With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.
2024.08.14 The 1st Auditing Meeting of the 4th Audit Committee	Election matters: Election of convener of the Audit Committee. 1. Review of 2023 Q2 individual financial statements and the consolidated financial statements. 2. Amendment to Internal Control System. 3. Amendment to the brokerage service fee rate and discount policy. 4. Regulations for commissioning others to handle operations 5. Proposal for amendments to the Rules Governing Board Meetings. 6. Proposal for amendments to the Company's guidelines for financing anti-money laundering and counter-terrorism activities. 7. Proposal for amendments to the Company's procedures and plans for financing anti-money laundering and counter-terrorism activities. 8. Renewal of liability insurance for Directors and important personnel. 9. Implementation of the Principle of fair treatment to consumers from April to June in 2024.	The independent director Yang, Hui-Chu was elected as the convener of the 4th session of the Audit Committee, and was passed unanimously by the members in attendance. With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.
2024.10.23 The 2nd Auditing Meeting of the 4th Audit Committee	1. Establishment of trading procedures for foreign securities and derivative financial products. 2. Amendment to the brokerage service fee rate and discount policy. 3. Amended the criterion for handling consumer disputes. 4. Discussion on the interval dates between the Audit Committee and the Board of Directors. 5. Amended the policies and strategy of the principle of fair treatment of consumers. 6. Implementation of the Principle of fair treatment to consumers from July to September in 2024.	For proposal 1 to proposal 3 and proposal 5 to proposal 6. With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discus- sion.. The Chairperson approved the fourth proposal with the unani- mous consent of all committee members present to proceed with Plan Two.
2024.12.11 The 3rd Auditing Meeting of the 4th Audit Committee	1. Revised the Internal Control System. 2. Submitted 2025 Auditing program. 3. Formulated sustainable information management policy. 4. Amendment to the reporting procedure for major incidents. 5. Application for designated collective money trust management business. 6. Application for a license to concurrently operate securities investment consulting services and handle discretionary investment business in the form of a trust. 7. Proposal to increase the capital of President Futures Corporation Ltd.	With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.

2024 Annual Report

II. Corporate Governance

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Meeting Item Resolution
1. Evaluation of the independence and competency of CPA.
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	Item	Resolution
	1. Evaluation of the independence and competency of CPA.
2025.02.13 The 4th Auditing Meeting of the 4th Audit Committee 2025.02.26 The 5th Auditing Meeting of the 4th Audit Committee	2. Amendments to Internal Control System for brokerage business. 3. Establishment of operational guidelines for the commissioned purchase and sale of Foreign Virtual Asset ETFs. 4. Amended the Articles of Incorporation. 5. Report of 2024 Legal compliance risk evaluation. 6. Report of 2024 money laundering and terrorist fnancing risk assessment. 7. Report of 2024 statement of Internal Control over AML/CFT. 8. Statement of the 2024 Internal Control System. 9. Implementation and self-evaluation of the Principle of fair treatment to consumers from October to December in 2024.	With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.
	1. Review of 2024 individual financial statements and the consolidated financial statements. 2. Proposal for increasing capital from retained earnings for issuance of new shares.	With the consent of all attending committee members, the Chairman approved the resolution and submitted it to the Board of Directors for discussion.

D. Corporate Governance Implementation Status and Deviations from “the Corporate Governance Best -Practice Principles for TWSE/TPEx Listed Companies”

Evaluation Item		Implementation Status	Implementation Status	Implementation Status	Deviations from “the Corporate Governance Best-Practice Principles for TWSE/ TPEx Listed Companies” and Reasons
		Yes	No	Abstract Illustration
I. Does the company establish and disclose the Corporate Governance Best-Practice Principles based on “Corporate Governance Best- Practice Principles for TWSE/ TPEx Listed Companies”?		✓		In an effort to implement prudent corporate governance measures in line with the ''Principles for Corporate Governance for Securities Firms'' and with relevant laws and regulations, President Securities adopted such guidelines by the 13th meeting of the 9th Board of the company held on August 7, 2014, and will abide by said principles. The Principle was amended on November 8, 2023 for the fourth time.	None

President Securities Corporation

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
II. Shareholding structure &
shareholders’ rights
A. Does the company establish an ✓ A. The Company has a spokesperson and shareholder service personnel None
internal operating procedure to process shareholders’ suggestions, questions, and disputes.
to deal with shareholders' 2. The Company has established an “Investor Section” and
suggestions, doubts, disputes “Investor Mailbox” on the Company website, which are run by
and litigations, and implement the spokesperson and dedicated personnel of the Administration
based on the procedure? Department. Shareholders’ suggestions or disputes are forwarded to
relevant departments for processing.
B. Does the company possess the ✓ B. PSC maintains close relationships with key shareholders and assigns None
list of its major shareholders as dedicated shareholder services personnel to continually monitor any
well as the ultimate owners of changes in the shareholdings of these key shareholders.
those shares?
C. Does the company establish and ✓ C. The finance and business of our company and its subsidiaries are None
in separate operation. In term of management right and obligation
execute the risk management
there is a clear line between our company and its subsidiaries.
and firewall system within its
All the relations and trades are dealt with in accordance with law.
conglomerate structure?
“Surveillance governing internal-control system for subsidiaries” has
also been set up as a controlling and governing mechanism for our
subsidiaries.
D. Does the company establish ✓ D. 1. In an effort to prevent insider trading and to protect the interests
internal rules against insiders of investors, we have adopted and implemented the “Material Event None
trading with undisclosed Internal Handling Procedures”, which outlines clear division of
information? responsibilities, adequate firewall and confidentiality procedures, the
disclosure of material events, educational guidance rules, etc.
2. In order to handle the conflict of interest among internal personnel
effectively and protect the rights of customers, the Company
introduced ''Rules for inspection activity on internal personnel
engaged in brokerage trading'' requiring the cross comparison of
brokerage trading 5 minutes prior to and after the brokerage trading
for personnel that have access to customer brokerage trading
details. In addition, inspections need to be undertaken on whether
or not there is any undisclosed information in the brokerage trading
engaged by the representative of companies or the companies he
represents to check for any abnormality.
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2024 Annual Report

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
III. Composition and
Responsibilities of the Board
of Directors
A. Does the Board develop and ✓ A. In order to increase the effectiveness of the Board of Directors and None
facilitate the healthy growth of its composition and structure, our
implement a diversified policy
Company has implemented a diversification policy in line with
for the composition of its
"Corporate Governance Best Practice Principles."
members?
Abiding by article 20 of our Principles for Corporate Governance,
in respect of the Company’s business development needs and
shareholders’ shareholding and practical operational needs. Propose
an appropriate diversification policy that includes the following two
dimensions to ensure that our Company's directors achieve specific
management objectives in terms of professionalism and diversity:
(1) Basic Conditions and Values: Gender, age, etc.
(2) Professional Knowledge and Skills: This section should include
information about professional background, such as law, accounting,
industry, finance, marketing or technology. It should also highlight
professional skills and industry experience.
Currently, there are 12 Directors in the Company, including 4
independent directors, backgrounds in finance, accounting, business
administration, law and investment, as well as rich industry
experience in securities and futures, food, retail, trade, warehousing,
Petrochemical, optoelectronics.
The 4 independent directors accounting for 33% of total Directors
and there’s 3 with a term of 7-9 years, and 1 with a term of 1-3
years, conforming the target of percentage and terms of years (within
3 terms). The Company also emphasize the gender equality among
Directors. The target regarding percentage of female Director is 30%
or above. For the current term, there are 4 female Directors , stand for
33% of total Directors, the expectation is to achieve the goals in the
upcoming year as well.
Comprehensive Abilities
1. 2. 3. 4. 5. 6. 7. 8. 9.
Professional Operational Accounting Operating Crisis Industrial International Leadership Decision- Risk
Name Gender Background Diverse Industry Judgement & Financial Management Management Knowledge Points of making Management
(Educational & Experience Analysis View Ability Knowledge
Experience) & Ability
Lin, Kuan- Commodities,
M Sports, Investment Securities and ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Chen Futures
Financial
Chen, Kuo- Management
M ,Business Food, Investment ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Hui Administration,
Investment
Business
Management,
Lu, Li-An F Financial & Finance, Food, ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Investment Pharmacy
Management
Liu, Tsung- Financial FMCG, Mergers
M and ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Yi Management Acquisitions
Business
Teng, Wen- F Administration, Faculty, Trade, University ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Hwi Education, Investment
Investment
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President Securities Corporation

Evaluation Item	Evaluation Item	Evaluation Item	Evaluation Item				Implementation Status	Implementation Status	Implementation Status	Implementation Status	Implementation Status	Implementation Status	Implementation Status	Implementation Status	Deviations from “the Corporate Governance Best-Practice Principles for TWSE/ TPEx Listed Companies” and Reasons
					Yes	No	Abstract Illustration

Name							Comprehensive Abilities
	Gender	Professional Background (Educational & Experience)	Diver	se Industry Expe- rience			1. Operational Judgement	2. Accoutning & Financial Analysis	3. Operating Management	4. Crisis Management	5. Industrial Knowledge	6. International Points of View	7. Leadership	8. Decision- making Ability	9. Risk Management Konwledge & Ability
Lee, Chi- Ming Lee, Shu- Fen Juang, Jing- Yau Pai, Chun- Nan Song, Yung- Fong Horng, Yuan-Chuan Yang, Hui- Chu	M	International Trade	Wholesale, Trade, Construction, Investment				✓	✓	✓	✓	✓	✓	✓	✓	✓
	F	Financial Management	Material Industry				✓	✓	✓	✓	✓	✓	✓	✓	✓
	M	Financial Management	Securities , Textile, Retail				✓	✓	✓	✓	✓	✓	✓	✓	✓
	M	Finance, Economic, Investment, Bank, Law	Business Investment, Financial Investment, Securities, University Faculty				✓	✓	✓	✓	✓	✓	✓	✓	✓
	M	Business Administration, Investment	Telecommunications, Investment Banking, Securities				✓	✓	✓	✓	✓	✓	✓	✓	✓
	M	Financial Management, Investment Management	Steel				✓	✓	✓	✓	✓	✓	✓	✓	✓
	F	Finanace, Money Market, Capital market	Investment Banking, Finance, Underwriting, Mergers and Acquisitions				✓	✓	✓	✓	✓	✓	✓	✓	✓

2024 Annual Report

II. Corporate Governance

Implementation Status Deviations from “the Corporate Governance Best-Practice
Evaluation Item Principles Yes No Abstract Illustration for TWSE/ TPEx Listed
Companies” and Reasons
B. Does the company voluntarily ✓ B. President Securities Corporation has already appointed independent None establish other functional directors to its Board, established an audit committee, a remuneration committees in addition to the committee, a risk management committee, and a strategic Remuneration Committee and development committee. the Audit Committee? 1. Based on the expertise, consistency, and time-based effectiveness of the Company’s business, the Board of Directors has approved the Articles of Organization developed by the Risk Management Committee on June 26, 2008. The Committee has been established within the Board of Directors to supervise day-to-day risk management. The Committee is responsible for the following duties:
(1) The establishment of risk management policies and the organization and assignment of duties to related units within the Company.
(2) The establishment of risk measurement standards for the Company.
(3) The management of limits for the overall risk and departmental risk of the Company.
The Risk Management Committee consists of minimum three members. At least half of them are independent directors, and the committee members shall be selected via resolution of Board of Directors. The Risk Management Committee shall convene meetings at least once every quarter to assist the Board of Directors in planning and supervising the Company’s related risk management affairs. This committee shall report the implementation of risk management to the Board of Directors periodically and propose suggestions for necessary improvements.
Sustainability and Strategic Development Committee: In order to strengthen the medium and long-term strategic development and to deepen the spirit of corporate governance, the Board of Directors resolved the Strategic Development Committee Charter and established Strategic Development Committee in the Board of Directors on November 4, 2021.

Based on the recommendations from the external evaluation agency's report on the performance evaluation of the Board of Directors, the Board approved the renaming of the Strategy Development Committee to the Sustainability and Strategy Development Committee on July 5, 2024. The term will continue, and the organizational regulations have been revised to include responsibilities related to sustainable development.

Terms of reference:

(1) Establish the Company's sustainable development policy and annual plan.
(2) Supervise the implementation of the Company's annual sustainable development plan and monitor the execution results.
(3) To formulate medium and long-term business operation and strategic development directions of the Company.
(4) Study medium and long-term organizational change and transformation plan.
(5) Formulating the Company’s annual operation plan and budget preparation.

President Securities Corporation

Implementation Status Deviations from “the Corporate Governance Best-Practice Evaluation Item Principles Yes No Abstract Illustration for TWSE/ TPEx Listed Companies” and Reasons ✓ C. In accordance with the “Code of Practice for Corporate Governance None

C. Has the company formulated the board’s performance evaluation measures and evaluation methods? Does the company conduct annual and regular performance evaluations and report the evaluation results to the Board of Directors while adopting the results as a reference for individual directors’ remuneration and nomination for reelection?

C. In accordance with the “Code of Practice for Corporate Governance None of Securities Firms” and in line with the competent authority’s promotion of corporate governance, the Company has formulated the “Measures for Evaluating the Performance of the Board” on August 29, 2018 and performed annual assessment. The Company regularly commissions an external independent professional institution or a team of experts and scholars for assessment at least once every three years. The Company has engaged an external professional institution-Taiwan Corporate Governance Association to conduct the assessment in 2023.

The evaluation results of the self-assessment and external assessment of the Board of Directors for this fiscal year will be explained separately as follows.

Self-evaluation of the Board of Directors:

Assessment Period: July 1, 2023 to June 30, 2024.
Directors’self-assessment: The total number of self-assessment items was 25, The self-assessment average score of one director is 4.64, while the remaining 10 directors all received a perfect score of 5. The average score of each indicator ranges from 4.91 to 5, and the self-assessment results of all Directors were exceeding the standard.
Functional committees’ self-assessment: The total number of selfassessment items were 23, 20, 19 and 18 for the Audit Committee, the Remuneration Committee, Risk Management Committee and the Strategic Development Committee, respectively, with assessment scores of 4.94 points, 4.97 points, 4.96 points and 4.99 points, respectively, and the evaluation results of all functional committees were exceeding the standards.
Board of directors’ self-assessment: Total assessment items are 40 items. In addition to "Directors Attending the Shareholders' Meeting", this indicator score is meeting the standard. The scores for all other items are classified as 'Exceeds Standards.' The overall evaluation result of this board self-assessment is 'Exceeds Standards'.
The results of the aforementioned Board performance assessment were reported to the 3th meeting of the 13th Board of Directions on November 6, 2024 for future reference.
External evaluation:
External Professional Organization for Evaluation: Taiwan Corporate Governance Association.
Rationale for independence of external organization: The Taiwan Corporate Governance Association (TCGA) is an independent, professional organization that evaluates and assesses the corporate governance system and the performance of the Board of Directors. With reference to the corporate governance principles issued by the Organization for Economic Cooperation and Development (OECD) in 2015, and taking into account the legal environment and characteristics of Taiwanese companies, the association has been providing corporate governance evaluation and assessment services since 2005. Moreover, in 2016, it’s services had expanded to include third-party evaluation of the Board of Directors' performance. To date, it has served nearly 600 companies across various industries, including public-owned enterprises, listed companies, overthe-counter (OTC) companies, public offering companies and private companies, with different ownership structures and board compositions.

2024 Annual Report

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Implementation Status Deviations
from “the
Corporate
Governance
Best-Practice
Evaluation Item
Yes No Abstract Illustration Principles
for TWSE/
TPEx Listed
Companies”
and Reasons
C. Has the company formulated the ✓ 3. Evaluation Methods and Process: None
board’s performance evaluation (1) Assess the review period of data: September 1, 2022 to August
measures and evaluation 31, 2023.
methods? Does the company (2) The Company carried out an online self-assessment procedure:
conduct annual and regular August 24, 2023 to September 1, 2023.
performance evaluations and (3) The evaluation committee and commissioners of the Taiwan
report the evaluation results Corporate Governance Association: September 12, 2023.
to the Board of Directors (4) On-site visit to the Company by the evaluation committee
while adopting the results and commissioners of the Taiwan Corporate Governance
as a reference for individual Association: September 21, 2023.
directors’ remuneration 4. Content and Items of the Assessment
and nomination for re- (1) Composition of the Board of Directors
election?
(2) Teaching of the Board of Directors
(3) Authorization of the Board of Directors
(4) Supervision of the Board of Directors
(5) Communication of the Board of Directors
(6) Internal controls and risks management
(7) Self-Demanding of the Board of Directors
(8) Other things like meetings of the Board of Directors and
System-supporting
5. General Comments:
(1) Our Company's Chairman of the Board places great importance
on sustainable development. In response to the regulatory
authorities' initiative to publish the Sustainable Development
Action Plan for listed and OTC companies in 2023, we have
made efforts to significantly reduce the number of seats on
the Board of Directors. We plan to ensure that independent
directors account for at least one-third of the Board of Directors
in the upcoming election next year. The current composition
of the Board of Directors is diverse and professional, and the
independent directors are eager to shoulder their responsibilities.
They actively participate in and contribute to the board's
operations, which is commendable.
(2) Throughout the period under review, the Company held a series
of five separate meetings known as "Internal Control Deficiency
Review Meetings" between the audit officer and the independent
directors. These meetings included in-depth discussions
of the defect summary reports from internal audit findings
and regulatory correspondence announcements, Financial
Examination's deficiency and remediation reports, and other
communication matters.These discussions played a critical role
in effectively leveraging the Audit Committee's guidance and
oversight functions with respect to internal control systems and
financial statements.
(3) The Company attaches importance to sustainable development,
and in response to the development trend of the financial
industry and changes in the market environment. The Company
adheres to the sustainable management philosophy of "You care,
we act!"and continues to improve its operating strategies.
At present, we have established a Sustainable, Financially
Responsible Team led by the President, and formulated the
"ESG Investment Management Policy". The new policy requires
us to evaluate and identify risks based on ESG indicators prior
to investment, and regularly review the ESG performance of our
investment portfolio after investment.
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President Securities Corporation

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Implementation Status Deviations
from “the
Corporate
Governance
Best-Practice
Evaluation Item
Yes No Abstract Illustration Principles
for TWSE/
TPEx Listed
Companies”
and Reasons
C. Has the company formulated the This helps to implement the concept of sustainable financial
board’s performance evaluation management, fully incorporate the ESG elements into the
measures and evaluation Company's investment policy, and implement ESG concepts in
methods? Does the company our day-to-day operations from top to down.
conduct annual and regular (4) The Company attaches importance to talent development and
performance evaluations and has established the Brokerage Department Reserve Manager
report the evaluation results Training Program. This program carefully selects individuals
to the Board of Directors with exceptional performance and strong business acumen.
while adopting the results Through apprenticeships, job rotations, mentor counseling, and
as a reference for individual other "learning-by-doing" methods, we cultivate outstanding
directors’ remuneration talents' abilities in strategic thinking, team management,
and nomination for re- customer management, problem analysis and solving. By
election? arranging complete training courses and diversified channels for
further education as supplementation, the strength of sustainable
development is cultivated proactively.
(5) In 2019, the Company established a Corporate Governance
Officer in accordance with the resolution of the Board of
Directors. The Corporate Governance Officer is responsible for
scheduling the meetings and agendas of the Board of Directors
and functional committees, director training, and providing
information, etc. Extensive communication takes place with the
independent directors regarding the planning of Board meeting
topics and schedules. Adjustments or additional explanations
are provided in response to questions and opinions raised by the
independent directors. This demonstrated the Company's respect
for the independent directors, and its commitment to handling
proposals with rigor, prudence and diligence.
6. Suggestion:
(1) The Company has established a "Strategic Development
Committee," which is primarily responsible for overseeing the
promotion and implementation of corporate social responsibility
and governance issues. The Company has also established a
Sustainable Development Integration Team under the President.
It regularly reports to the Board of Directors on the results of
sustainable development implementation, indicating that your
Company's Board of Directors indeed attaches great importance
to the issue of sustainable development. It is recommended that
your company consider adding "Sustainable Development"
to the name of the Strategic Development Committee, which
appropriately demonstrate the company's determination and
effectiveness in investing in sustainable development.
(2) The Company's Board of Directors has established a number
of functional committees, and there is a great demand for
the diversified professional knowledge and experience of the
participating directors. Beside the selection and recruitment
of directors should consider their diversified professional
background knowledge and professional mix of industrial
experience that required by your Company in the next stage, the
appropriate arrangement of directors' refresher credit course can
also strengthen the diverse capabilities of the directors.
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Implementation Status Deviations
from “the
Corporate
Governance
Best-Practice
Evaluation Item
Yes No Abstract Illustration Principles
for TWSE/
TPEx Listed
Companies”
and Reasons
C. Has the company formulated the (3) Regarding the training of newly appointed directors, although
board’s performance evaluation the Company has already provided a director's manual, it is
measures and evaluation recommended that the Company further develop a “Training
methods? Does the company System” for New Directors. (e.g., provide necessary documents,
conduct annual and regular arrange presentations on the Company's overview and industry
performance evaluations and trends, and conduct discussions with key management
report the evaluation results personnel.) The aim is to assist new directors in quickly
to the Board of Directors understanding the Company's operational status and fulfilling
while adopting the results their directorial responsibilities. Additionally, it is suggested that
as a reference for individual the Company establish an " Material Contingencies Reporting
directors’ remuneration Procedure" to strengthen the standards and processes for
and nomination for re- handling and reporting related matters. This will ensure that all
election? board members can promptly grasp information on significant
material contingencies.
The results of the aforementioned Board performance
assessment were reported to the 13th meeting of the 12th Board
of Directions on November 8, 2022 for future reference.
Link between performance appraisal and remuneration of Directors
and managers:
1. In accordance with Article 23 of the Company’s Articles of
Incorporation, in order to motivate employees and the operation
team, after deducting employees’ and Directors’ compensation from
current year net income before tax, the Company shall allocate no
less than 1.6% of the residual amount as employees’ remuneration
and no more than 2% as Directors' remuneration.
2. According to "Board of Directors Performance Evaluation
Measures", Directors’ emoluments are assessed by reference to
the Directors’ level of participation in the Company’s operations
and their individual contribution to the Company’s performance,
their familiarity with the Company’s objectives and missions,
knowledge of directors’ duties and responsibilities, involvement in
the Company’s operations, internal relationship management and
communication, the Directors’ professions and continuing education,
internal control and other items, the results of which are included
in the consideration of performance evaluation and remuneration
distribution.
3. Remuneration to Managers includes salaries and bonuses with
reference to industry standards, positions, grades, education, working
experience, professional skills and responsibilities, etc. The incentive
payments take into account the manager’s performance evaluation
items, which include financial indicators (business development
capabilities, such as revenue achievement rate, net profit after tax
achievement rate, market share or market ranking, etc.) and non-
financial indicators (staff management capabilities and improvement
in internal process, internal control and risk control capability).
The result of the evaluation will be included in consideration of
performance appraisal and compensation.
4. The procedures for determining the remuneration were based on
their contribution to the business performance and the performance
evaluation measures to provide reasonable remuneration. Relevant
performance evaluation and the reasonableness of remuneration
were all reviewed by the Remuneration Committee and the Board
of Directors; the remuneration system is reviewed at any time
depending on the actual operational situations and relevant laws and
regulations, so as to balance the Company’s sustainable operations
and risk control.
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President Securities Corporation

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
D. Does the Board of Directors ✓ D. According to the regulation of corporate governance of securities None
regularly (at least one time a dealers, the Board evaluates and assigns the appointment of
year) evaluate the independence independent accountants annually based on Audit Quality
and suitability of CPAs based on Indicators (AQIs). According to article 46 and article 47 of
AQIs and disclose the evaluation Certified Public Accountant Act, “honesty, impartiality, objectivity
in the annual report? and independence,” the company sets up the independent items
of declaration (Note 1), which issued by the certified public
detached accountants and offer Audit Quality Indicators (AQIs) to
PricewaterhouseCoopers Taiwan. The results were submitted to the
Audit Committee on February 23, 2024, and subsequently approved
by the Board of Directors on March 4, 2024. Accountant Lin, Se-
Kai, Kuo, Puo-Ju, and Hu, Yu-Chen from PricewaterhouseCoopers
Taiwan proved to be qualified as CPA for company’s financial and
tax accountants.
Note 1: Auditor Independence and Suitability Evaluation Form
Evaluation Whether it complies
Evaluation Items with independence
Result and suitability.
1. The accountant has no direct or significant indirect financial interest in the Company. Y Y
2. The accountant has no financing or guarantee activities with the Company or its directors. Y Y
3. The accountant does not maintain a close business relationship or a potential employment relationship with the Company. Y Y
4. The accountant did not receive any fees associated with the audit case or any public funds. Y Y
5. The accountant and members of the audit service team have not held positions as directors, managers, or any roles that
Y Y
significantly influence the audit work within the Company, either currently or in the past two years.
6. The accountant has not offered any non-audit services that could directly affect the audit work of the Company. Y Y
7. The accountant does not promote, mediate, or engage in the buying or selling of stocks or other securities issued by the
Y Y
Company.
8. The accountant has no familial relationship with the Company's directors, managers, or personnel who hold positions that
Y Y
significantly influence the audit case.
9. The accountant has not received any substantial gifts or valuable presents from the Company or its directors and managers. Y Y
10. The accountant has not accepted any improper accounting policy choices or inappropriate financial statement disclosures Y Y
from the Company's management.
11. The accountant has not been replaced for a continuous period of seven years. Y Y
12. The accountant has not been subject to any disciplinary action or any other circumstances that would impair their
Y Y
independence.
13. Has the accountant provided and reported Audit Quality Indicators (AQIs) to the company's Audit Committee? The
Y Y
Company refers to these indicators in assessing the accountant's suitability.
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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
IV. Does the company designate ✓ The Company’s Board of Directors adopted a resolution on May 3, None
an appropriate number 2019, that Senior Assistant Vice President Chen, Nai-Chen at the
of qualified personnel President Office would be appointed as the Corporate Governance
and appoint a corporate Officer in charge of corporate governance-related affairs. Senior
governance officer in charge Assistant Vice President Chen has served as a supervisor in President
of matters related to corporate Office related to corporate governance for more than three years, as
governance? These matters set out in Article 21 in accordance with Article 23 of the “Operation
include but are not limited Directions for Compliance with the Establishment of Board of Directors
to providing directors and by TWSE Listed Companies and the Board’s Exercise of Powers”. As a
supervisors with information new officer, she will complete 18 hours of professional training courses
needed for the execution of and at least 12 hours in a year in accordance with paragraph 2 article 24.
business, assisting directors The Company’s corporate governance-related affairs are handled and
and supervisors in complying completed by relevant departments collectively. Corporate governance-
with laws and regulations, related affairs (terms of reference) shall include matters related to
handling matters related to holding of meetings of the Board of Directors and shareholders’
the board of directors and meetings, minutes recording for meetings of the Board of Directors and
the shareholders’ meetings in shareholders’ meetings, assistance to Directors with taking office and
accordance with the related continuous education and training, provision of information required
laws, handling company for the Directors to conduct business, assistance to Directors with
registration and registration compliance, review of the legal qualifications of independent directors
changes, and keeping minutes (already presented at a Board meeting in 2024.08.28) and handling of
of the board of directors and matters related to the change of directors and other matters set out in the
the shareholders’ meetings. Company’s Articles of Incorporation or contracts.
Key points for business execution in 2024:
1. Matters related to meetings of the Board of Directors and
shareholders’ meetings in accordance with the law.
2. Minutes recording for meetings of the Board of Directors and
shareholders’ meetings.
3. Assistance to the directors in compliance matters and in continuing
education.
4. Provision of the information required for the Directors to conduct
business.
5. The legal qualifications of independent directors.
6. Other matters set out in the Company's Articles of Incorporation or
contracts.
Status of continuing education and training: A total of 12 hours of
training was provided during the year. Please refer to the table below.
Date Organization Course Credit(s) IndividuallCredit(s) from y Traning
2024.08.28 Taiwan Institute of Directors Sustainable economic activities and biodiversity, TNFD analysis 3
2024.09.03 Taiwan Corporate Governance How to Fully Launch Corporate Innovation Growth - Driving 3
Association Corporate Transformation through Five Strategic Pillars 12
Board legal compliance and compliance response under Corporate
2024.11.06 Taiwan Institute of Directors 3
Governance 3.0
2024.12.05 Taiwan Corporate Governance Association Impact of climate change on financial reporting 3
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President Securities Corporation

Implementation Status Deviations from “the Corporate Governance Best-Practice Evaluation Item Principles Yes No Abstract Illustration for TWSE/ TPEx Listed Companies” and Reasons Does the company establish a ✓ The Company has established a dedicated Stakeholder section on its None communication channel and website that provides the result of sustainable development in recent build a designated section on years and channels of communication with stakeholders. The Company its website for stakeholders, appropriately responds to important sustainable development topics of as well as handle all the issues concern of all stakeholders. The Company has set up communication mailbox and hotline for different stakeholders as a communication sustainable development? channel. Dedicated personnel are responsible for managing the mailbox and hotline intends to facilitate the smooth and speedy dissemination of opinions. Morover, it also highlights our sustainability achievements in recent years in this area. The communication status and results with stakeholders will be reported to Board of Directors on annual basis. The communication status and results with stakeholders were reported to the Board of Directors on August 28, 2024.

V. Does the company establish a communication channel and build a designated section on its website for stakeholders, as well as handle all the issues they care for in terms of sustainable development?

A. Shareholders

Issues concerned: corporate governance, ethical business operation, compliance, risk control/auditing, transparency and disclosure of information, and operational performance

Communication methods:

(1) Company information is provided through investor emails and announcements on the official website. The Company established "the investor section" on our website to provide investors with transparent and comprehensive information. The Company also established the investor relations contact channel to respond to questions raised by shareholders.
(2) Announcements of operations and financial performance periodically and the issuance of material information in Chinese and English on the Market Observation Post System.
(3) Organization of one institutional investor conference every season to report business status to shareholders.
B. Employees

Issues concerned: operational performance, employee training, assessment, and development, employee remuneration, working hours, labor-management relations, communication channels, and occupational safety and health

Communication methods:

(1) The employee suggestion mailbox and employee complaint mailbox are used for communication.
(2) The Company organizes employee seminars and large-scale family day events. The Company also announces internal news reports to facilitate bilateral communication and interaction.
C. Clients

Issues concerned: communication channels, customer privacy protection and information security, brand image, operational performance, service quality, and customer satisfaction

Communication methods:

(1) The Company communicates with customers regularly through the customer service hot line and email and monthly statements are delivered every month.
(2) The Company organizes investment and wealth management seminars periodically and organizes large-scale investment seminars to communicate and interact with customers.

2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
V. Does the company establish a D. Suppliers
communication channel and Issues concerned: ethical business operation, risk control/auditing,
build a designated section on and brand image
its website for stakeholders, Communication methods:
as well as handle all the issues
(1) The Company organizes periodic price negotiation meetings,
they care for in terms of
announces information on the public tendering information section
sustainable development?
on the official website, and organizes public tendering briefings.
(2) According to the "Regulations for the Procurement and
Purchasing Management" revised in 2023, supplier collaboration
is conducted through selection and evaluation. The assessment
categories include annual assessment, acceptance assessment,
incident assessment and sustainability assessment. The results can
be divided into three levels of suppliers, namely levels A, B, and
C, which are used as the basis for future cooperation.
(3) The Company cooperates with suppliers to jointly commit
to fulfilling sustainable development. The materials used in
decoration construction and equipment procurement must be green
building materials and equipment with environmental protection
labels to increase the Company’s dedication to environmental
protection, energy conservation, and carbon emissions reduction.
E. Competent authority
Issues concerned: ethical business operation, corporate governance,
transparency and disclosure of information, financial and capital
market functions maintenance, and financial inclusion, and
compliance of regulation.
Communication methods:
The Company participates in courses and seminars organized by
the government. We also actively collaborate with the competent
authorities in the execution of their business.
F. Community/NGO
Issues concerned: social welfare, responsible Investment/sustainable
finance, and environmental protection
Communication methods: Each year, we host philanthropic events
and partner with various charitable organizations, combining our
internal and external resources to address societal needs through
tangible actions.
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President Securities Corporation

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VI. Does the company appoint ✓ Affairs of shareholders' meetings are handled by the Shareholder None
a professional shareholder Services Department of the Company; the Department obtained the
service agency to deal with certification of the Professional Shareholder Services Institution from
shareholder affairs? Taiwan Depository & Clearing Corporation (TDCC).
VII. Information Disclosure
A. Does the company have a ✓ A. On President Securities Corporation website, we have disclosed None
corporate website to disclose the Company’s financial and business information, and corporate
both financial standings and the governance. We also post periodical and non-periodical financial and
status of corporate governance? operational information on the government-operated MOPS website.
B. Does the company have B. Our company has assigned a spokesperson to be responsible for
other information disclosure ✓ providing information to shareholders and investors. On our website None
channels (e.g. building an where investors and shareholders can obtain information on the
English website, appointing following:
designated people to handle (1) Company introduction in English and Chinese.
information collection and
(2) Disclosure of company’s financial and business information, and
disclosure, creating a spokesman
corporate governance.
system, webcasting investor
conferences)? (3) Investor Suggestion Mailbox, which is manned by Administration
Department Personnel who are responsible for replying to all
comments received.
(4) The Company has disclosed the briefing and video files of
institutional investor conference proceedings and other related
information on the Company’s website.
C. Does the company announce ✓ C. On February 27, 2025, the Company released its financial report for None
and release its annual financial 2024. The financial reports for the first, second, and third quarters
report within two months after of 2024, along with monthly operational performance, were all
the end of the fiscal year, and completed and finalized within the set deadlines.
announce and release financial
reports for the first, second, and
third quarters and operating
conditions of each month earlier
that the required date?
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VIII. Is there any other important ✓ A. Environmental Protection Measures None
information to facilitate President Securities operate financial services and, therefore, does
a better understanding of not produce any environmental pollutants or waste.
the company's corporate
B. Investor relations
governance practices (e.g.,
including but not limited to Our company has assigned a spokesperson to be responsible for
employee rights, employee providing information to shareholders and investors, and to post
wellness, investor relations, periodical and non-periodical financial and operational information
supplier relations, rights of on the government-operated MOPS website. The Company
stakeholders, directors' and established “the investor section” on our website to provide investors
supervisors' training records, with transparent and comprehensive information. The company
the implementation of risk will continue to strengthen investor relations and maintain good
management policies and communication and interaction with investors.
risk evaluation measures, the C. Employee rights and wellness
implementation of customer (1) To boost work efficiency and solidarity among our employees,
relations policies, and we place particular emphasis on benefits programs and labor
purchasing insurance for relations, and thus ensure employee welfare in a comprehensive
directors and supervisors)? manner.
(2) General accident insurance has been purchased for each of our
branches and work premises so as to protect customer rights.
Employer insurance has also been purchased so as to protect the
interests of all employees.
D. Rights of the stakeholders
We have also taken steps to address corporate responsibility
concerns of our stakeholders. We have established a platform with
dedicated staff to handle feedback from investors, employees,
clients, competent authority and community/NGO so as to maintain
strong lines of communication and collect issues of concern of
our stakeholders, and review whether our activities respond to
stakeholders. This allows us to stay aware of the issues that are
of importance to our interested parties and to ensure that all of
our actions are responding to the needs of our stakeholders. The
communication status and results with stakeholders will be reported
to Board of Directors on annual basis. The communication status
and results with stakeholders were reported to Board of Directors on
August 28, 2024.
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President Securities Corporation

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VIII. Is there any other important E. Customer policy
information to facilitate (1) Policy: “3 Goods and 1 Fair” ─ “Good Quality” , “Good
a better understanding of Credibility” , “Good Service”, and “Fair Price”. This is combined
the company's corporate with “Professional Leadership, Kind Service”, in providing all
governance practices (e.g., customers with comprehensive services.
including but not limited to
(2) Implementation: We have established a Customer Services
employee rights, employee
Department—The Customer Service Center, providing customer
wellness, investor relations,
complaint channels, dedicated hotline and personalized service
supplier relations, rights of
to address customer issues; also, offering relevant product risk
stakeholders, directors' and
warnings reminder on the mailed customer statements.
supervisors' training records,
the implementation of risk F. Directors training: The Company's Directors shall carry out
management policies and independent studies and the Company shall also organize related
risk evaluation measures, the corporate governance courses periodically and invite all Directors
implementation of customer to participate in the courses. Take 2024 for example, in addition to
relations policies, and the Directors’ individual training courses, the Company cooperated
purchasing insurance for with the Taiwan Institute of Directors to jointly organize classes for
directors and supervisors)? all directors and managerial officers of the Company. Corine Ko,
vice president of PricewaterhouseCoopers Sustainability Services
Company Ltd.(consulting services for sustainable development
and climate change), was invited to teach "Sustainable economic
activities and biodiversity, TNFD analysis" in August. Tomm Chiang,
vice president of Risk Management Consulting of Deloitte Touche
Tohmatsu Limited, was invited to teach the lesson of "Board legal
compliance and compliance response under Corporate Governance
3.0" in November, to enable the Directors to further understand
the spirit of corporate governance and practice. For details of the
Directors' on-the-job training in 2024, please refer to Chapter 2 X,
Training of Directors and Supervisors.
G. Implementation status for Risk Management Policy and
Measurement:
(1) Risk Management Policy
i. Ensure that we can operate various types of business from
a position of solid risk management. Using reasonable risk
tolerance levels, continue to enhance profitability, create
shareholder value, and achieve return on capital targets.
ii. Set well-defined risk controls for every business area, implement
risk management checks and balances, set clear obligations for
each department so as to enhance risk management effectiveness
by breaking it down into manageable pieces.
iii. Our risk management operations take into accounts all key forms
of risk: market risk, credit risk, liquidity risk, operational risk,
legal risk, model risk, reputational risk, climate risk.
(2) Risk Measurement
The company has set risk management principles. In order to ensure
that all of our organization’s businesses adhere to our operating
policies, operating goals, and capital levels, we have set suitability
evaluation policies that can react to changes in our business and in
the market:
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VIII. Is there any other important  Market risk measurement
information to facilitate i. We use RiskMetrics market risk management system to manage
a better understanding of our company’s exposure to market risk. In addition to producing
the company's corporate daily risk value tables, we perform simulation analysis and
governance practices (e.g., historical analysis so as to supplement missing risk values.
including but not limited to
ii. We evaluate the completeness of our evaluation models on
employee rights, employee
various business mareas, and review the assumptions, parameters,
wellness, investor relations,
and data used for various product models, and then test that the
supplier relations, rights of
models for the various products are reasonable.
stakeholders, directors' and
supervisors' training records, iii. We evaluate the effectiveness of risk control models: regularly
the implementation of risk perform backtesting to ensure the effectiveness of the models
management policies and used.
risk evaluation measures, the  Credit risk measurement
implementation of customer i. Our company undergoes credit rating evaluations from Moody’s,
relations policies, and Standard & Poor’s, Fitch, Taiwan Ratings Corp, and TCRI.
purchasing insurance for
ii. Trading counterparty credit risk: we assess our company’s
directors and supervisors)?
maximum exposure in the event that a trading counterparty
defaults, and then use maximum exposure limits set by the
board of directors, in determining the credit risk of a trading
counterparty.
iii. Issuer’s Credit Risk: we use KMV model to perform internal
evaluations, and combine that with financial data and stock price
data, to calculate the probability of a default. Then, based on these
measurements, we developed “Z-Score”, an in-depth internal
evaluation of the company, and then use this to protect ourselves
from potential credit risks and potential capital shortfalls.
 Operational risk measurement
i. Operational risk is the risk that occurs when internal processes,
employees, or systems, are inappropriate or cause errors; or risk
that is caused by external factors. This type of risk is related to
legal risks but not strategic risk or credit risk.
ii. We create operations risk policy handbooks that entail every level
of operations.
iii. Through our risk report and audit report, we ensure that risk is
appropriately evaluated, disclosed, and controlled.
 Climate risk measurement
i. Climate risk assessment method and process: Using risk matrix
to identify and evaluate the level of climate risks, prioritizing
risks, and defining significant climate risks. The climate risk
assessment method should take into account relevant regulations
and internationally recognized standards.
ii. Identify the correlation between climate risks and other risks,
such as credit risk, market risk, operational risk, and liquidity
risk.
iii. Risk identification and assessment: Identifying and assessing the
degree of impact, probability, and potential risks to operational
activities caused by climate events.
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President Securities Corporation

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VIII. Is there any other important (3) Risk Management
information to facilitate i. Our risk management takes into account market risk, credit
a better understanding of risk, liquidity risk, operational risk, legal risk, model risk,
the company’s corporate reputational risk, and climate risk, etc., for both on-balance sheet
governance practices (e.g., business and off-balance sheet businesses.
including but not limited to
ii. Each day, every level of operations, every manager, and every
employee rights, employee
trader is given fresh figures on position risk and key sensitivity
wellness, investor relations,
values. Through this, the company’s risk controls and trading
supplier relations, rights
strategies can be properly analyzed and necessary alerts can
of stakeholders, directors’
initiated. Setting risk control guidelines for each level of
and supervisors’ training
operations allows for comprehensive monitoring of risk.
records, the implementation
of risk management (4) Our Risk Management Organization
policies and risk As part of our risk control measures, we have created an
evaluation measures, the independent risk control department and constructed an
implementation of customer integrated risk control architecture that encompasses all facets
relations policies, and of the organization, including the Board of Directors, the Risk
purchasing insurance for Management Committee, the President Office, the Assets/
directors and supervisors)? Liabilities Management Committee, the Risk Control Office, the
Auditing Office, the Compliance Division, the Finance Department,
the Business units, Settlement & Clearing Department and the
General Affairs Department. Each segment of the company has
clearly spelled-out obligations and every level of the company has
clearly defined authorities.
i. Board of Directors: Audits the company’s risk management
policy, supervises sales business strategies, approves all business
proposals and trading permissions, is ultimately responsible for
risk management.
ii. Risk Management Committee: Is a functional established by the
Board of Directors tasked with integrating all risk management
operations, with supervising and assisting all the various risk
management and related operations. The committee is also
tasked with setting the various risk authorities, limits, and
targets, for a centralized supervision of the status of all of the
company’s risk management efforts.
iii. President Office: Supervises the daily implementation of all of
the company’s risk management operations and authorizes any
exceptions to the risk management protocols.
iv. Assets/Liabilities Management Committee: Controls the
company’s overall asset structure, authorizes trading limits for
businesses collects and analyzes domestic and international
interest rates, exchange rates, and economic changes.
v. Risk Control Office: Is responsible for the drafting of risk
policies and regulations, for monitoring market and credit risks,
for monitoring liquidity risks, for compiling data on operational
risk control and management, for constructing and maintaining
the risk management system, for implementation of risk
management systems and for ensuring company-wide regulatory
compliance.
vi. Auditing Office: Sets operations risk controls, sets the standards
for risk control systems, puts in place internal auditing controls,
and implements daily check routines.
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
“the Corporate
Governance
Best-Practice
Evaluation Item Principles
Yes No Abstract Illustration for TWSE/
TPEx Listed
Companies” and
Reasons
VIII. Is there any other important vii. Compliance Division: Implements legal risk controls and
information to facilitate ensures that all businesses and risk management operations are
a better understanding of in compliance with relevant laws and regulations. Compliance
the company’s corporate Division concurrently is responsible for anti-money laundering
governance practices (e.g., and counter terrorist financing, developing relevant regulations
including but not limited to and systems, monitoring internal control and transactions,
employee rights, employee supervising the implementation by business units, holding training
wellness, investor relations, sessions, and reporting cases suspicious of money laundering.
supplier relations, rights
viii. Finance Department: Monitors capital adequacy rates and
of stakeholders, directors’
liquidity risks, and analyzes the company’s asset/liability
and supervisors’ training
structure and other key financial ratios.
records, the implementation
of risk management ix. Business units: Based on the company’s risk management
policies and risk policies and regulations sets risk management guidelines for
evaluation measures, the various businesses, and produces a report on abnormal risk
implementation of customer items for the Risk Control Office.
relations policies, and x. Settlement & Clearing Department: Implementation of risk
purchasing insurance for control and management for settlement, clearing, and short-sale
directors and supervisors)? business operations. Implementation of risk management and
business department risk management for transactions.
xi. General Affairs Department: Greenhouse gas inventory and
management, resource sustainability management, responsible
procurement, and supplier management.
H. President Securities Corporation has already purchased liability
insurance from ACE insurance and AIG Asia Pacific Insurance Pte.
Ltd. for all of its directors, and key employees (Policy Value: US$10
million; Policy Term: September 1, 2024, to September 1, 2025).
IX. The improvement status ✓ In the Corporate Governance Evaluation of 2023, the Company's final None
for the result of Corporate evaluation score was 95.02, placing the Company between 6% and 20%
Governance Evaluation of the total listed companies. In the previous evaluation, for any items
where the Company did not gain any points. For example, factors to
announced by Taiwan Stock
consider include whether the Board of Directors has more than one-third
Exchange.
of its members as independent directors, whether the Audit Committee
approves the company's mid-term financial statement, and whether
resources are allocated to support domestic cultural development
projects; and so forth, the Company has actively adjusted its operational
policies to improve the effectiveness of corporate governance to achieve
the goal of sustainable business management of the Company. As of the
publication date of this annual report, the results of the 2024 corporate
governance evaluation system have not yet been announced.
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President Securities Corporation

E. Composition, responsibilities, and operation of the Remuneration Committee

In accordance with the “Regulations Governing the Appointment and Exercise of Powers by the Remuneration Committee of a Company Whose Stock is Listed on the Stock Exchange or Traded Over the Counter” published by the competent authority on March 18, 2011, the Company has completed the discussion and resolution of the proposal by September 30, 2011, as required. Please refer to the description of the Remuneration Committee on page 61 of the Annual Report for the information on the operations.

1. Information Regarding Remuneration Committee

Title	Criteria Name	Professional Qualifcation Requirements and Work Experience	Independence Criteria	Number of Other Public Companies in Which the Individual is Concurrently Serving as an Remuneration Committee Member
Independent Director (convener)	Pai, Chun- Nan	I graduated from the Institute of Economics at National Taiwan University and hold a Ph.D. in Law from the Chinese Culture University; I have provided services in public and private enterprises for over 40 years and hold teaching position at National Taiwan University, National Taiwan Normal University, Soochow University, and Fu Jen University for teaching fnancial and economic courses. Currently, I am the Vice Chairman of BES Engineering Corporation, the Company's Independent Director , and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee (also the convenor). I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. No compensation received from providing business, legal, fnancial, and accounting services to the Company or its afliates for the past two years. 5. According to the above, I complied with the independence criteria.	0
Independent Director	Song, Yung- Fong	I have over 30 years of working experience and professional business management, business, legal, and accounting expertise; I graduated from The University of Iowa; after graduating with MBA, I held management positions in major investment banks or foreign-invested banks worldwide, such as holding positions as Vice President, Managing Director, and Executive Director at BNP Paribas Taiwan, Goldman Sachs (Asia), SG Warburg Securities Ltd. Taiwan, Deutsche Bank Taiwan, ABN AMRO Bank (Taipei Branch), and CIMB Securities, Taiwan, and became the CIO and Executive Vice President of Chunghwa Telecom Co., Ltd. in 2017. Currently, I am the Company's Independent Director and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. The compensation received from providing business, legal, fnancial, and accounting services to the Company or its afliates for the past two years was not more than half a million. 5. According to the above, I complied with the independence criteria.	0
Independent Director	Horng, Yuan- Chuan	I have over fve years of working experience in fnance and accounting; I graduated from the Department of Economics, Soochow University; currently, I am the Independent Director of Himax Technologies, Inc.; I held positions as the Vice President of Finance Division of China Steel Corporation and Chairman of Gains Investment Corp.; I am the Company's Independent Director, and a member of the Audit Committee, Remuneration Committee, and Risk Management Committee. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. Not provided business, fnancial, and accounting services to the Company or its afliates for the past two years. The compensation was NT$0. 5. According to the above, I complied with the independence criteria.	0
Independent Director	Song, Yung- Fong	I have over 30 years of experience in fnance, investment, and management. I graduated from Ming Chuan University with a degree in Banking and Insurance. Currently, I serve as the President of Just A Investment, as well as an Independent Director at both Poindus Systems and SYNergy ScienTech. My previous experience includes positions at BNP Paribas, Barclays, and the BPCE Group, where I held roles such as President, Director, and Head of Capital Markets and Investment Banking. Currently, I am the Company's Independent Director and a member of the Audit Committee, Risk Management Committee, Remuneration Committee, Supervisory personnel of Trust, and Ofshore Structured Products review team. I do not meet any of the conditions defned in Article 30 of the Company Act.	1. The Director, its spouse, or its relatives within the second degree of kinship not being a Director, supervisor, or employee of the Company or its afliates. 2. The Director, its spouse, or its relatives within (or under other's names) the second degree of kinship has no shareholding in the Company. 3. Not being a director, supervisor, or employee of any company with particular relationships with the Company. 4. Not provided business, fnancial, and accounting services to the Company or its afliates for the past two years. The compensation was NT$0. 5. According to the above, I complied with the independence criteria.	2

2024 Annual Report

II. Corporate Governance

2. Operations of the Remuneration Committee

(1) The committee is composed of four members.
(2) Term of the committee members: From July 5, 2024 through June 26, 2027. The Remuneration Committee met 5 times (A) in the most recent year. The qualifications and attendance of the members are listed below:

Title	Name	Attendance in Person (B)	By Proxy	Attendance rate (%) (B/A) (Note)	Remark (Note)
Convener Pai, Chun-Nan 5 0 100% Re-election Five meetings were held during the term of office.
Member Liang, Yann-Ping 2 0 100% Resigned on 2024.06.27 Two meetings were held during the term of office.
Member Yang, Hui-Chu 3 0 100% Elected on 2024.06.27 Four board meetings were held during the term of office.
Member Horng, Yuan-Chuan 5 0 100% Re-election Five meetings were held during the term of office.
Member Song, Yung-Fong 4 1 80% Re-election Five meetings were held during the term of office.
Other mentionable items: 1. If the board of directors declines to adopt or modifies a recommendation of the remuneration committee, it should specify the date of the meeting, session, content of the motion, resolution by the board of directors, and the Company’s response to the remuneration committee’s opinion (eg., the remuneration passed by the Board of Directors exceeds the recommendation of the remuneration committee, the circumstances and cause for the difference shall be specified): None. 2. Resolutions of the remuneration committee objected to by members or expressed reservations and recorded or declared in writing, the date of the meeting, session, content of the motion, all members’ opinions and the response to members’ opinion should be specified: None.

(3) 2024 remuneration committee proposal discussion and resolution:

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Remuneration
Item Resolution
Committee
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Remuneration Committee	Item	Resolution

2024.02.23 The 15th Meeting of the 5th Remuneration Committee	1. Amendment to Rules for Commission Payments to Brokerage Channel Sales Personnel. 2. Change of managers. 3. Proposal for people in authority (managerial ofcers) to serve as the directors and supervisors concurrently at subsidiaries in which the Company has invested. 4. The proposal for 2023 bonus distribution ratio for employees and directors. 5. The proposal for 2023 bonus allocation for employees and directors.	Proposal 1~5: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.
2024.04.25 The 16th Meeting of the 5th Remuneration Committee	1. Change of managers. 2. 2023 employee remuneration distribution proposal for managers.	Proposal 1~2: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.
2024.08.14 The 1st Meeting of the 6th Remuneration Committee	1. The proposal regarding change of department managers. 2. Change of managers. 3. Proposal for people in authority (managerial ofcers) to serve as the directors and supervisors concurrently at subsidiaries in which the Company has invested. 4. Propose the remuneration for the 13th term of Board of Directors. 5. Propose the remuneration for the 13th term of Independent Directors. 6. Propose the remuneration for the 13th term of Chairman. 7. Remuneration of the President. 8. Periodic review and evaluation of the policies and structure of the remuneration to the Company's Board of Directors.	Proposal 1~4: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion. Proposal 5: This case involves recusal and shall be submitted to the Board for resolution. Proposal 6~8: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.
2024.10.23 The 2nd Meeting of the 6th Remuneration Committee	1. Amendment to the Regulations Governing the Board Performance Evaluation. 2. Change of managers.	Proposal 1~2: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.
2024.12.11 The 3rd Meeting of the 6th Remuneration Committee	1. The proposal regarding change of managers. 2. Periodic review and evaluation of the remuneration policy and structure for the Company's senior executives and managers.	Proposal 1~2: All members of the committee present voted in favor of the resolution without any objection and submitted it to the Board of Directors for discussion.

President Securities Corporation

F. Sustainable development and Deviations from “ Sustainable Development Best Practice Principles for TWSE/GTSM Listed Companies ”

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
I. Has the company established a ✓ The Company’s SD was implemented by the Management Department None
dedicated unit or appointed a where SD integration teams are formed in 2018. Based on the
unit for promoting SD? Is the content of the work, the Company has established five task forces,
unit authorized by the Board namely Corporate Governance, Customer Service, Employee Care,
of Directors to implement SD Environmental Protection, and Social Engagement. These teams are
activities at upper management responsible for formulating and implementing policies, systems, or
levels? Does the unit report the related management policies and specific promotion plans for corporate
progress of such activities to sustainable development, and have formulated a "Code of Practice for
the Board of Directors? Sustainable Development" as approved by the Board of Directors. The
Sustainable Development Integration Team holds regular quarterly
integration meetings to set objectives, exercise control and review
performance in each area of sustainable development, and regularly
compiles the results of the implementation of each relevant unit and
submits them to the Board of Directors on a quarterly basis.
The content includes: (1) identifying sustainability issues that
require attention and formulating corresponding action plans; (2)
revising sustainability-related goals and policies; (3) overseeing the
implementation of sustainable operations, and planning and evaluating the
execution progress.
Additionally, the year's sustainable development performance
execution was compiled into a sustainability report. Approved by the
Board of Directors before it was submitted and publicly announced.
In 2021, a Strategic Development Committee was established in the
Board of Directors to supervise the promotion and implementation of
corporate social responsibility and corporate governance. On July 25,
2024, following a resolution approved by the Board of Directors, the
Strategic Development Committee has been renamed the Sustainability
and Strategic Development Committee, overseeing the promotion and
implementation of the company's sustainable development. The "Report
on Sustainable Development in FY 2024" was submitted on December
25, 2024. The Board of Directors oversees our company's implementation
of sustainable development. In addition to approving the Sustainable
Development Goals, the Board of Directors receives quarterly reports of
promoting sustainable development and ESG issues from the Sustainable
Development Integration Team.
The content includes: (1) identifying sustainability issues that
require attention and formulating corresponding action plans; (2)
revising sustainability-related goals and policies; (3) overseeing the
implementation of sustainable operations, and planning and evaluating the
execution progress.
The reports were submitted to the Board of Directors on May 8,
2024, August 28, 2024, December 25, 2023, and February 26, 2025,
respectively. For the execution status, please refer to the ESG Report
and the "Corporate Sustainability Development" section on the PSC's
website.
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
II. Does the company conduct ✓ In accordance with the GRI guidelines, our company identifies material None
risk assessments related sustainability topics through a series of processes, including collecting
to environmental, social, sustainability issues, conducting impact assessments and confirming
and corporate governance material topics. We develop a list of material topics by considering
issues that are related to sustainability trends, both domestically and internationally, as well as
the company’s operations in the priorities of regulatory authorities. The internal impact assessment is
accordance with the materiality conducted by the Sustainability Integration Team to assess the impact of
principle, and formulate various sustainability issues on our business operations. Once material
relevant risk management issues are identified, we develop relevant policies, management guidelines
policies or strategies? and objectives, as detailed in the SD report.
Main Topic Assessment Risk Management Policies and Strategy
The company is developing policies and strategies designed to address risk factors related to climate, such as heavy rain events, earthquakes, and high
temperatures with the goal of maintaining the safety and robustness of the Company's operations. For example, the low-carbon transformation policy on
the client side includes the full development of digital financial management. This includes the availability of online signing of a wide variety of consent
documents and risk notices required by the appropriate authorities for opening accounts remotely, conducting various transactions directly on mobile
Climate devices, and online inquiry used to confirm whether a transaction has been conducted successfully. The goal is to make sure the Company's services will
Environment change andenvironmental protection not be affected by climate change and other related events or disasters. As for the Company's operations, the Company will comprehensively review business processes, building materials with green building materials label certification, convert administrative forms into electronic documents, purchase
environmentally-friendly labeled products, phase out older energy-consuming equipment and energy-saving lighting year by year to reduce energy
consumption, streamline energy expenditures, improve operational efficiency, hire an external certification agency to formally introduce, complete the
IOS14064-1 standard for greenhouse gas inventory and the ISO 50001 energy management system (EnMS) . The goal is to reduce the generation of a
carbon footprint through such interlocked low-carbon operations.
The Company pays attention to the safety of employees' work environment. In addition to minimizing the hazards present in the office environment, the
Head Office and all branches have selected and assigned appropriate employees to obtain Fire Safety Manager Certificates and the become qualified as
Occupational Occupational safety and health affairs, while formulating fire-fighting plans for the workplace, to maintain a safe office environment. The Company's Head
safety and Office and workplaces have each purchased public accident liability insurance to protect rights and interests of clients and to provide employer accident
health liability insurance to protect employees' rights and interests. A total of four automated extracorporeal defibrillators (AEDs) have been set up on specific
floors of the Company's Head Office building, and the Company was granted the "AED Safe Place Certification" in 2024. In total, 70 employees have
obtained first-aid safety and health education along with training certificates to ensure the safety of their peers.
In addition to the independent operation of finance and business, the management rights and responsibilities of the Company and affiliated companies
are clearly divided, and their business dealings or transactions are handled in accordance with the relevant laws and regulations. In addition, an "Internal
Control System for Supervision and Management of Subsidiaries" has been established to control and manage subsidiaries. The Information System
Social issues Department of the Company has formally established an information security section assigned to upgrading the previous task-based team to a normal
organization. This section is staffed with a dedicated information security supervisor and dedicated information security personnel to strengthen the
Customer maintenance, security, and control of the information systems and the stability of business adjustment The goal is to ensure that the organization carries out
privacy information security management operations effectively and provides clients with the most secure information trading environment.
protection and Since August 2013, the Company has applied for and obtained the British Standards Institution's ISO 27001: 2005 version of the information security
information certification for electronic trading systems. The Company passed the information security certification renewal and obtained the revised certification ISO
security 27001:2013 version renewal certificate, July 2014. Afterwards, the Company has applied for renewal of the certification annually and applied for review
of the certification every three years to implement the Company's internal matters in a standard and systematic manner to reduce operational errors. The
Company has adopted TWCA as the certificate authority for authentication and verification of trading orders placed. When clients are conducting online
transactions, in addition to having the account number and password checked by a securities firm or a futures firm, each transaction needs to be confirmed
with a certificate issued by an impartial third party, along with the use of internationally recognized SSL technology for transmission encryption, to
increase the degree of security that is valued during online transactions.
The Company's Board of Directors has established a Risk Management Committee to supervise daily risk management affairs effectively. The risks
involved in the Company's business include risks related to the market, credit, liquidity, operations, legal issues, model risks, which have been included in
the scope of risk management. In addition, a three-stage defense system for risk management has been implemented.
Corporate governance Risk control/audits The first-stage defense: When each business unit executes its business, it will monitor risks on its own.
The second-stage defense: An independent dedicated unit has been established to formulate and execute risk policies, operating guidelines, and risk control
systems as the second-stage of defense in the monitoring of risks.
The third-stage defense: The risk management system is integrated into the internal audit system to provide for independent review.
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President Securities Corporation

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
III. Environmental Issues
A. Does the company endeavor ✓ A. The Company is a financial services industry with no pollution and None
to utilize all resources more waste generated from manufacturing activities. The main source
efficiently and use renewable of greenhouse gas emissions is purchased electricity consumption.
materials which have low impact In order to implement environment protection and carbon emission
on the environment? reduction, the Company has implemented several energy consumption
equipment replacement projects.In order to protect the natural
environment, demonstrate the organization's improved environmental
performance, achieve a balance between the environment, society, and
the economy, and to achieve social expectations related to sustainable
development, transparency, and responsibility, the Company started
to implement ISO 14001 environmental management system since the
second half of 2021. The environmental operation control procedure
was established, implementing, maintaining, periodically reviewing,
and communicating with internal and external stakeholders within
defined scope. In 2022, we achieved the ISO 14001 environmental
management system certification through SGS verification. The
certification is valid from June 14, 2022 to June 14, 2025.
B. Does the company establish ✓ B. The Company spares no efforts in supporting green environment None
proper environmental protection. In order to implement the sustainability policy of
management systems based waste reduction, the Company placed resource recycling bins at
on the characteristics of their every floor of the Company and strictly and completely enforced
industries? garbage sorting and recycling. In addition, the Company purchases
products that have energy conservation labels, environmental
protection labels, green building materials labels and so on to reduce
the impact of the Company’s operation on the environment and
society. In terms of environmental protection and waste reduction,
the Company enhanced the promotion of resource recycling,
digitalization of various forms in offices, and external paperless
policies, such as the implementation of customer e-statements and
electronic order placement. In order to achieve the Company's goal
of environment protection, energy saving, and carbon emission
reduction.
Encourage a paperless meeting environment by encouraging
colleagues to use eco-friendly cups and lunch boxes to reduce our
impact on the environment.
In 2024, the Company has purchased NT$29,128,766 green
construction materials, including the information equipment cost
NT$11,738,875 and the cost of green building materials was
NT$2,635,000.
In terms of renewable energy, we began planning for green power
procurement in 2023, starting with an analysis of our own electricity
consumption and evaluating the green power procurement rate on a
yearly basis. Our objective is to increase the portion of the company's
green power to 15% by 2030. In 2024, we procured 39,047 kilowatt-
hours of green power and the wheeling was starting from May, 2024.
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
C. Does the company evaluate the ✓ C. In response to the effects of extreme climates on the planet, None
current and future potential risks introduced 14001 Environmental Management System which
and opportunities created by identified “climate change and environmental protection” as
climate change for the company the risk of all environmental aspects of President Securities
and take measures to respond to Corporation. We are considering how to respond to climates and
climate-related issues? how to convert risk factors into business opportunities for President
Securities Corporation! Low-carbon transformation has become
the opportunities of the Company’s policy on environmental
sustainability. We devote ourselves to the development of
digital financial management to achieve the goal of low-carbon
transformation. Formulate action plans for paperless operations.
In response to the government’s energy and environmental
policies and regulations, we will strive to achieve sustainable
environmental development. The Company formulated the
environmental management action plan, including the aspects
of energy management, planned the lighting replacement plan,
equipment maintenance and inventory check in noise control aspect,
establishment of replacement standard to gradually replace air-
conditioning equipment.We will carry out various regular reviews to
continuously improve our performance as related to environmental
issues. We are committed to providing relevant resources designed
to continue to promote the following environmental policies.
1. Develop a digital financial system to reduce the generation of a
carbon footprint.
2. Require the purchase of green-marked products and strictly
request procurement of local products.
3. Promote environmental protection management policies regularly
and continue to improve our commitment to the environment
and wise energy use. In June 2023, the Company issued the first
"Report on Climate Change Financial Disclosures" and disclosed
it on official website, demonstrating the Company's emphasis on
the climate change management issues.
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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
D. Has the company measured its ✓ D. In an effort to reduce our carbon footprint, the Company adheres to None
greenhouse gas emissions, water government policies on indoor climate controls, as well as removing
consumption, and total weight and replacing outdated equipment with more energy-efficient
of waste in the past two years, models, followed-up by regular inspections. In order to conserve
and formulated policies related energy as well as to reduce carbon and greenhouse gas emissions,
to energy conservation, carbon when preparing annual budgets, the Company includes the costs
reduction, greenhouse gas of water and electricity that affect greenhouse gas emissions in the
reduction, water consumption, or management report. The company regularly encourages employees
other waste management? to reduce the use of elevators as much as possible and adjusts water
pressure to reduce water consumption. In order to effectively control
greenhouse gas emissions, the Company conducts greenhouse gas
inventories in accordance with ISO 14064-1:2018 and tracks the
relevant data. Through the process and results of the inventory, the
Company was able to obtain a solid understanding of its greenhouse
gas emissions, expand the scope of the inventory to include branches
and subsidiaries in Taiwan in 2022. With the base year of 2022,
the goal of reducing greenhouse gas emissions in Scope 1 and 2 is
5% in 2025, and 15% in 2030. We will continue to promote various
measures to reduce environmental impacts, endeavor to reduce
greenhouse gas emissions, and move toward the establishment of a
green organizational culture.
In 2024,the Company's total water consumption is 30,926 cubic
meters and the per capita water consumption is 20.74 cubic meters.
The total power consumption is 5,733,974 kWh and the per capita
power consumption is 3,845.7 kWh (Has not yet been externally
verified in the fisical year of 2024).
Energy Statistics 2022 2023 2024
Total external power
5,800,981 5,638,678 5,733,974
consumption (kWh)
per capita 4,034.06 3,993.40 3,845.7
A decrease of 3.70% in per capita power consumption
Total company
vehicle gasoline 16,260.18 13,682.18 11,354.59
consumption (liter)
Total diesel
480.7 984.8 255.2
consumption (liter)
Total non-renewable
16,740.88 14,666.98 11,609.79
fuel consumption
A decrease of 20.84%
Water consumption 13,839 28,751 30,926
(cubic meters) (Headquarter) (The PSC) (The PSC)
per capita 21.09 20.36 20.74
A increase of 1.87% in per capita water consumption
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
D. Has the company measured its ✓ The Company is committed to environmental protection and None
greenhouse gas emissions, water as set up waste reduction goals. With 2023 as the base year, the
consumption, and total weight goal is to decrease emissions by 1% in 2024 and 2% in 2030. The
of waste in the past two years, “Environmental Management Implementation Committee” has
and formulated policies related introduced ISO14001 environmental management system for
to energy conservation, carbon management,implementation and audit. In 2022, there were 41,024
reduction, greenhouse gas kg of headquarter general waste and 62.54 kg per capita. In 2023,
reduction, water consumption, or there were 72,038 kg of PSC general waste and 51.02 kg per capita,
other waste management? which is a reduction of 18.42% per capita. In 2024, there were
72,597 kg of PSC general waste and 48.69 kg per capita, which is a
reduction of 4.57% per capita.
2022 2023 2024
Type
(Headquarter) (The PSC) (The PSC)
Recyclable paper (kg) 13,115 27,033 27,784
Non-recyclable waste
41,024 72,038 72,597
(kg)
per capita 62.54 51.02 48.69
IV. Social Issues
A. Does the company formulate ✓ A. 1. On December 16, 2020, the Company has established "President None
appropriate management policies Securities Corporation Human Right Policy" based on the human
and procedures according to right protection spirit and principles disclosed by UN Universal
relevant regulations and the Declaration of Human Rights, the UN Global Compact, and ILO
International Bill of Human Convention. The Company is devoted to protecting basic human
Rights? rights.The Company’s human right policy covers eight major aspects,
including workplace inclusion, maternity protection, child labor
employment, discrimination and sexual harassment, occupational
safety management, employee health management, overtime work
and labor disputes. Management and alleviation measures have been
set up for each aspect.
2. The Company has also established the labor health protection
plan, which contains the ergonomic prevention plan, prevention plan
for unlawful infringement during work and the prevention plan for
diseases due to abnormal workload. In addition to regular annual
promotion of the Sexual Harassment Prevention Act, response to
the annual risk assessment for the prevention plan against unlawful
infringement of duties, relevant preventive measures will be revised
and supplemented based on the assessment results to ensure the
rights and safety of employees in the workplace. The Company
arranges annual health checkups for its employees. All of the above
measures are means to protect employees' basic human rights.
B. Has the company formulated ✓ B. The Company has established various salary and benefit measures None
and implemented reasonable for employees in accordance with the Labor Standards Act and
employee benefit measures relevant regulations, and provides market-competitive benefits
(including salary, leave, and to motivate employees, while conducting periodic performance
other benefits), and appropriately evaluations and linking performance with bonuses. In addition,
reflected operating performance in accordance with Article 23 of the Company's Articles of
or results in employee Association, in order to motivate employees and the operation
compensation? team, after deducting employees' and Directors' compensation from
current year income before tax, the Company shall set aside no less
than 1.6% of the residual amount as employees’ remuneration to
share surpluses and results with its employees.
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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
C. Does the company provide ✓ C. 1. We focuses on the safety and health of the employees’ working None
a healthy and safe working environment. Compliance with occupational safety and health
environment and organize regulations. Aside from improving the dangerous factors within the
training on health and safety for environment, we also establish health consulting room. We hire a
its employees on a regular basis? health management specialist and on-site occupational medicine
specialist, offer employees wellness consultations. Through
organized health promotion seminars and online health education
initiatives, we actively advocate the concept of preventive healthcare.
These efforts provide employees with access to up-to-date health
information, foster strong health awareness, and encourage the
development of positive lifestyle habits. Additionally, we offer
employee health inspections on annual basis, help employees gain
a comprehensive understanding of their health status and prevent
cardiovascular and metabolic diseases, the Company provides
personal health examination reports and consultation services. A
dedicated health management specialist conducts follow-up tracking
and care based on the examination results, enabling employees
to better understand their health conditions and identify areas for
improvement.
2. The workplace is equipped with first aid supplies and AED
equipment, and the Company was granted the "AED Safe Place
Certification" in 2024. In total, 70 colleagues in the company have
received training in emergency response and successfully obtained
certifications.
3. The Company has obtained the CommonHealth Magazine's
CHR Healthy Corporate Citizen Award - Healthy 99 Enterprise
in 2024, highest level of lactation facility certification from the
Taipei City Government's Department of Health, the Sports
Enterprise certification from the Sports Administration (2023-2026),
and Healthy Workplace certification from the Health Promotion
Administration - Health Promotion Badge (2024-2026).
4. Occupational safety and health education training courses are held
annually to raise employees' awareness of occupational safety and
wellness. Occupational and fire safety are irregularly promoted on
the internal website, and workplace safety is reinforced through email
communication. Cleaners are also required to keep floors dry and
clean at all times, and warning signs are posted to remind employees
to exercise caution. In 2024, a total of 47,712 people received
workplace safety training, amounting to 3,976 hours.
5.There were no fire reported in 2024.
D. Does the company provide ✓ D. In response to the rapid evolution of financial technology and the None
its employees with career organization’s development needs, we are implementing training
development and training programs focused on artificial intelligence and data analysis tools.
sessions? This initiative ensures that our employees stay up to date with the
latest advancements and applications in fintech. In addition, we are
designing targeted training programs based on job classifications.
These include management capability training for managers, a
leadership excellence program, elite talent development for future
leaders, professional training for sales teams, problem-solving
workshops for specialists, and project management courses. By
developing and certifying competencies across all levels, we aim
to equip our employees with the necessary skills for their roles,
thereby continuously strengthening the organization’s overall
competitiveness.
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2024 Annual Report

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Implementation Status Deviations from
Sustainable
Development Best
Evaluation Item Practice Principles
Yes No Abstract Explanation of TWSE/GTSM
Listed Companies”
and Reasons
E. Does the company comply with ✓ E. The Company implements personal data protection and management None
relevant laws, regulations, and measures, abides by the relevant provisions of the Personal Data
international standards related Protection Act, and protects customers’ rights in terms of their
to customer health and safety, personal data. This is designed to reduce the impact of infringement
customer privacy, as well as on any personal data files, while continuing to operate and improve
marketing and labeling of the personal data management system. A personal data protection
products and services, and does policy statement was issued in 2012. The company-wide “Education
the company formulate relevant and Training Session on the Personal Data Protection Act” is offered
protection policies of consumers’ at least once a year, and a test will be given after each session to
rights and interests as well as examine the learning efficacy of participants and to ensure that
complaint procedures? employees have a full understanding of the importance of protecting
personal data and understands the operating regulations related to
personal data.
The Company adheres to financial product responsibility and sales
ethics, and has developed and publicized its consumers’ rights
and interest policy, and implemented the execution of policies on
consumers’ rights and interests.
In order to provide customers with the most comprehensive services,
the Company has a dedicated customer service department—the
Customer Service Center, which provides customers with complaint
channels, dedicated lines, and dedicated personnel to help customers
solve their problems. The Customer Service Center is designed to
ensure that the Company provides high quality and reliable services
to customers. Through the three major operating aspects (personnel,
systems, and processes) and the support of superior service systems,
customers’ needs can be effectively addressed. In the process of
providing services, when problems are discovered the processes are
constantly improved. The goal is to improve customers’ satisfaction
with their interaction with the Company, so that the management of
customer relationships can reach the best possible state.
F. Has the company formulated ✓ F. In order to maintain the quality of suppliers’ services, supplier None
supplier management policies collaboration is conducted through selection and evaluation
that requires suppliers to follow according to the "Regulations for the Procurement and Purchasing
relevant regulations on issues, Management" revised in 2023. The assessment categories include
such as environmental protection, annual assessment, acceptance assessment, incident assessment, and
occupational safety and health, sustainability assessment. The results can be divided into three levels
or labor rights? How are these of suppliers, namely levels A, B, and C, as the basis for considerations
policies implemented? for future cooperation. In addition, the Company has required its
main suppliers to sign a Supplier Social Responsibility Commitment
Letter. The suppliers are clearly committed to complying with
international human rights conventions and labor laws, providing
employees with a fair, healthy, and safe workplace environment,
prohibiting discrimination and unequal differential treatment, and
complying with relevant environmental protection regulations. For
suppliers who violate this commitment letter, the Company may
request termination of the related contract or suspension of the
partnership. The percentage of signing commitment letters was
95.93% in FY 2023 and 100% in FY 2024, an increase of 4.07%
compared to the previous year.
President Securities Corporation actively promotes the fulfillment
of social responsibilities among its supplier partners, ensuring
sustainable development through collaboration and demonstrating a
firm commitment to corporate ethics, environmental protection, and
social welfare. We will continue to enhance supplier management,
encouraging more partners to engage in corporate sustainable
development, collectively achieving a responsible business model
that delivers greater value and impact to society.
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V. Does the company refer to the international common reporting standards or guidelines to compile reports, such as sustainable development reports that disclose the company’s non-financial information? Have the quality of the said reports been confirmed a third-party verification entity? In 2011, the Company published its first “2010 Sustainable Development Report of President Securities Corporation”, and has produced subsequent annual reports ever since. An English version of the Sustainability Report has been produced since 2021. The annual sustainability report is available in both Chinese and English on the company's official website, specifically in the "Corporate Sustainability Zone." This allows users to browse the report online as an e-book or download it as a file. The 2023 Sustainability Report (issued in August 2024) was prepared in accordance with the guidelines and indicators set forth in the 2021 version of the GRI Sustainability Reporting Guidelines issued by the Global Sustainability Standards Board (GSSB). This report also references to the framework of the recommendations on Climate-related Financial Disclosures (TCFD) and the SASB standards for disclosure of relevant ESG information. Moreover, it has been attested by a third-party assurance organization, PricewaterhouseCoopers Accounting Firm (PwC Taiwan), in accordance with "International Standard on Assurance Engagements 3000" (ISAE3000), "Assurance Cases Involving the Audit or Review of Non-Historical Financial Information" conduct an assurance engagement. VI. If the Company has established the sustainable development principles based on “the Sustainable Development Best-Practice Principles for TWSE/TPEx Listed Companies”, please describe any discrepancy between the Principles and their implementation: For the implementation of the corporate governance, the Company’s Board of Directors approved the "President Securities Sustainable Development Best practice Principles" on July 2, 2012. The principles were first revised at the 9th Meeting of the 12th Board of Directors on December 22, 2022. In accordance with the code, we report to the Board of Directors on a regular basis. In 2024, each relevant unit's performance results are summarized and presented to the Board of Directors quarterly. The reports were submitted to the Board of Directors on May 8, 2024, August 28, 2024, December 25, 2024, and February 26, 2025, respectively.

2024 Annual Report

II. Corporate Governance

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VII. Other important information to facilitate better understanding of the Company’s sustainable development practices: President Securities Corporation has been actively engaged in various aspects of ESG issues and adheres to the concept of "You care, We act!" for sustainable development. President Securities Corporation maintain ongoing communication with its stakeholders and has adopted the four key policies of "CORE" for sustainable development, including caring service, career development, social responsibility, and shared prosperity. Moreover, SDGs of the United Nations Sustainable Development Goals (SDGs) has implemented in various areas of ESG to fully realize the value of corporate sustainability and responded to the government's responsibility to promote sustainability through concrete actions. A. Environmental Protection Measures Although the Company is a securities firm that does not produce any environmental pollutants, we still care deeply about protecting the environment, about reducing our impact on the environment, and about our responsibility for sustainability. In order to properly protect the natural environment, demonstrate the organization's improved environmental performance, achieve a balance between the environment, society, and the economy, and to achieve social expectations related to sustainable development, transparency, and responsibility. ISO14001 Environmental Management System was introduced in 2021. In 2022, we obtained the ISO 14001 environmental management system certification through SGS verification (The certification is valid from June 14, 2022 to June 14, 2025.). In line with the government's Green Workplace Initiative, our company complies with the government's guidelines for regulating the temperature of indoor air conditioners. In 2023, we initiated a lights-off campaign to support Earth Day and promote "Lightsoff Wednesdays." During the lunch break, non-operational units turn off the lights for one hour to raise employees' awareness of environmental protection and foster the adoption of sustainable habits in daily life. Every day should be treated as Earth Day because it helps us minimize our impact on the environment. In 2023, the Taiwan Green Productivity Foundation provided assistance to assess large energyconsuming equipment as well as the electricity usage of the headquarters building, aiming to effectively manage electricity consumption. Furthermore, a smart energy management system was installed in the headquarters to monitor air conditioning electricity consumption, establishing a foundation for future energy management. Based on an analysis of electricity consumption data, the B1 and 3F contract capacities were adjusted in August 2024, resulting in an estimated annual savings of NT$231,402 in electricity costs. The ISO 50001 energy management system was implemented in 2024 to conduct a comprehensive inventory and control of energy usage for large energy-consuming equipment within the building. In October 2024, the system passed SGS verification and received certification. The certification is valid from November 11, 2024 to November 11, 2027. To ensure optimal equipment performance, regular self-maintenance inspections are conducted and high-energy-consuming equipment is replaced over time. •[In 2024, the headquarters replaced the outdated air conditioning system on the 5th floor with a VRV system that meets first-level ] energy efficiency standards. This upgrade optimizes the air conditioning configuration and improves energy efficiency, resulting in an annual electricity savings of 58,988 kilowatt-hours and a reduction of 14.14 metric tons of CO2e. •[Energy-efficient lighting replacement at the Pingtung and Changhua branch offices has been completed, resulting in an annual elec-] tricity savings of 29,424 kilowatt-hours and a reduction of 14.535 metric tons of CO2e. To minimize environmental impact, President Securities Corporation is aligning with the government's environmental protection policies. In addition to promote the reduction of plastic and waste, paperless meetings, and decreased paper usage, President Securities Corporation also encourages the use of eco-friendly cups and utensils, throwing toilet paper in toilets, and green consumerism, with the goal of fostering environmental awareness among employees. Since November 2023, President Securities Corporation has been ordering conference meals in reusable containers, actively implementing the reduction of disposable utensils. In response to ongoing environmental protection efforts, beginning in 2025, the use of incense during worship activities—including year-end banquets, commencement ceremonies, and Chungyuan Pu Tu—will be replaced by the symbolic gesture of clasped hands. This initiative is expected to eliminate the use of approximately 1,800 incense sticks annually, contributing to a reduction in air pollution and carbon emissions. Our company promotes the concept of a circular economy by replacing purchasing with leasing to minimize negative environmental impacts and waste, including government vehicles and office equipment. The office equipment is designed to be energy-efficient, encouraging practices such as double-sided printing, paperless meetings, and merged multi-page printing to reduce carbon dioxide emissions from printing. Government vehicles are being gradually replaced with hybrid-electric vehicles (HEV) in accordance with the lease term, 66.7% of official vehicles were hybrid vehicles in 2024, with the aim of achieving a 75% HEV ratio by 2025 and 90% by 2030.

President Securities Corporation

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B. Community Participation, Social Contribution, Social Service and Social Welfare President Securities Corporation has been a long-standing supporter of important social charitable activities and, for its efforts, has been recognized with the 7th annual Wenxin Award and the 6th National Civic Service Award, and Top 50 by the Commonwealth magazine in 2013, 2015, 2016, and 2017. Besides, the Company was recognized and reward by the Taiwan Fund for Children and Families in 2013. President Securities Corporation has won the Gold Award in the Corporate Sustainability Report Awards of the Taiwan Corporate Sustainability Awards (TCSA) since 2020. In 2024, the Company received the prestigious Sustainability Report - Platinum Award. Additionally, the Company was honored with the Taiwan Excellence Award for Sustainable Business in both 2021 and 2023, and was selected as one of Taiwan's Top 100 Sustainability Exemplary Awards in 2022 and 2024. In 2024, it also received the TSAA Taiwan Sustainable Action Award for "SDG1 Eradicating Poverty - Bronze Award," the Wealth Management Awards by "Wealth Magazine," including "Best Public Welfare Promotion," and first place in Business Today's 18th Wealth Management Bank and Securities Companies "Best Sustainable Development Award." These accolades demonstrate the Company's significant achievements in promoting sustainable development. Since 2001, The Company has held "Love Delivery Activities" for consecutive 24 years. The Company made a donation of NT$2.5 million to the Taiwan Fund for Children and Families providing schooling subsidies in 2024 in the theme of the "Strive for Progress Scholarship" supports children from economically disadvantaged families in their education. A total of approximately 12,174 elementary school, junior high school, and senior high school students from poor families were beneficiaries in the end of 2024. Provide access to learning resources to support individual growth and development. For over twenty years, we have helped economically disadvantaged families by providing scholarships project and diverse learning opportunities. Our goal is to plant seeds of hope and be a strong support for courageous dreamers. In 2023, we partnered with the Taiwan Fund for Children and Families (TFCF) to produce the microfilm "Listen, Dreams are Dancing!". President Securities Corporation aims to illuminate the dreams in children's hearts, encouraging children to courageously pursue their dreams, this film won the Silver Award for "Sustainability Microfilm" at the 8th Taipei Golden Eagle Micro Movie Festival in 2024 and was nominated for the 2024 PwC's Sustainability Impact Awards. In 2024, we collaborated with Flow Studio to produce a short film titled "What Kind of Life Do You Want to Live?" with an investment of NT$1 million. This initiative aimed to inspire young adults to maintain their self-identity in an era of information overload, to face their inner choices honestly, and to live the life they desire. Additionally, our Company allocated resources to support the National Theater and Concert Hall's "2024 Senior Program," the Commercial Times' Wang Wang Charity Concert, and the Kaohsiung Beer Rock Festival featuring domestic artists. We also co-hosted an anti-fraud short video campaign with the Commercial Times and organized a movie appreciation day for employees to support the domestic film "I Am the Secret in Your Heart," totaling approximately NT$2.2 million. In 2024, we invested around NT$3.2 million to support domestic cultural development. President Securities Corporation is also committed to the wellbeing of the elderly. In 2024, we partnered with the Digital Humanitarian Association to promote anti-fraud education by offering a "Three-Part Anti-Fraud LIVE Course" and conducted outreach at community care centers to enhance the risk awareness and fraud prevention capabilities of seniors. Furthermore, the Company collaborated with the Hondao Senior Citizen's Welfare Foundation and encouraged employees to volunteer at the HsiSong Day Care Center, where they assisted seniors in making Mother's Day cards. We also held a "Mid-Autumn Festival Gift Box Donation" event, led by the Chairman and President, where volunteers and supplier partners packaged 1,848 gift boxes to be delivered to various service locations of the foundation, supporting care services for disadvantaged elderly individuals. Since 2006, we have organized employee blood donation events, expanding to twice a year starting in 2007, and inviting community residents to participate, which has received a positive response. Beginning in 2010, we increased the frequency to three times a year; however, these events were suspended from 2021 to 2023 due to the COVID-19 pandemic. In 2024, we resumed the "One Bag of Blood, Double the Love" charity blood donation campaign in collaboration with the KEDP Charitable Trust, the Xinju Village Office, the Jixiang Village Office, and the Taipei Blood Center, calling on employees, clients, and community residents to participate, resulting in the collection of 187 bags of donated blood. For each bag collected, NT$250 was donated to the Raising Children Medical Foundation to support the improvement of child-friendly medical environments. Since 2006, a total of 3,704 bags of blood have been donated. President Securities Corporation upholds the spirit of “giving back to the community what we take”, deepening social care and actively enhancing corporate sustainability impact.

2024 Annual Report

II. Corporate Governance

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C. Customer Rights We have assigned a spokesperson to be responsible for providing information to shareholders and investors, and for posting periodical and non-periodical financial and operating information on the government-operated MOPS website. We have also setup an "Investor Section" on our website where investors and shareholders can obtain information on the following: (1) President Securities’ design and sale of financial products adheres to all relevant laws and regulations. (2) Company introduction in Chinese and English. (3) Company financial statements. (4) Board of Director meeting Minutes. (5) Investor Suggestion Box, which is manned by Public Affairs personnel who are responsible for replying to all comments received. D. Employee Rights and Hiring Concerns (1) To boost work efficiency and solidarity among our employees, we place particular emphasis on benefits programs and labor relations, and thus ensure employee welfare in a comprehensive manner. (2) General accident insurance has been purchased for each of our branches and work premises so as to protect customer rights. Employer insurance has also been purchased so as to protect the interests of all employees. E. Rights of the stakeholders The Company respects rights of the stakeholders in expressing their opinions and has established a stakeholder section on the official website to build up a communication channel and to explain the Company’s sustainable development ideas and policies. For investors, employees, suppliers, customers, competent authority and community/NGO, the Company has established a communication platform, on which there are dedicated personnel to respond to any questions, to maintain good communication with the employees. F. Customer policy (1) Policy: “3 Goods and 1 Fair” ─ “Good Quality”, “Good Credibility”, “Good Service”, and “Fair Price”. This is combined with “Professional Leadership, Kind Service”, in providing all customers with comprehensive services. (2) Implementation: We have established a Customer Services Department—The Customer Service Center, which offers customers an avenue through which to register complaints, which operates a customer service hotline which is manned by customer service specialists who help to solve customer problems, and which ensures that all account correspondence sent to clients includes clear product risk warnings.

President Securities Corporation

G. Climate information about TWSE/TPEx listed companies

1. Climate information implementation status

Expressly state the supervision and governance of climate-related risks and opportunities by the Board of Directors and management

PSC adopts a rigorous and thorough approach to risk management, and it is particularly proactive and supportive of climate risk issues. The climate change governance framework involves the Board of Directors, Risk Management Committee, TCFD Task Force, and the Sustainable Development Team, each with its respective roles. This ensures that all employees recognize the importance of climate change and work together to address the climate-related issues PSC is faced with.

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Board of Directors
Report Sustainability and Strategic Development Committee
upward
Risk Control Office Sustainable Development Team
(dedicated to TCFD-related affairs) (dedicated to ESG-related affairs)
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Board of Directors

PSC’s Board of Directors serves as the highest governing body for climate-related issues. It is responsible for overseeing corporate social responsibility and sustainability issues, including climate governance, and holds ultimate responsibility for risk management. To ensure stable operations, PSC amended its Risk Management Policy, advocated for the integration of climate risks into the organizational culture. Additionally, the Company reports on climate risk management to the Board of Directors at least once a year.

Sustainability and Strategic Development Committee

On July 25, 2024, following a resolution approved by the Board of Directors, the 'Strategic Development Committee' has been renamed the 'Sustainability and Strategic Development Committee'. This committee is a functional committee established under the Board of Directors, responsible for overseeing the promotion and implementation of the company's sustainable development, assisting the Board of Directors in the supervision of implementation of climate risk policies and ensuring that risk management aligns with company policies, operational strategies, and goal development. The Chairman serves as the presiding officer of the 'Sustainability and Strategic Development Committee' and is responsible for convening meetings once each quarter. The Risk Control Office provides a report on the Company's climate risk management execution status to the Risk Management Committee at least once a year to facilitate the achievements of the Company's overall operational objectives.

Risk Control Office

In response to the climate change-related risk management measures required for securities firms by the competent authority, climate risk has been incorporated into the Company’s risk management mechanism to address the risks associated with climate change and assess potential opportunities.

The Company executes the following through the Chief Risk Officer:

(1) Identify and assess risks using a climate risk matrix and prioritize the risks by referencing relevant domestic guidelines and internationally recognized standards.

(2) Identify the correlation between climate risks and other risks.

(3) Assess the level of impact, likelihood of occurrence, and potential risks to operational activities posed by climate events. (4) Key indicators for managing climate risks should take into account the duration of the climate risks impact and industry factors. If a significant risk is identified that may jeopardize financial or business conditions or violate legal compliance, appropriate measures should be taken immediately and reported to the Board of Directors.

(5) The Company complies with the policy guidelines set by the competent authorities and internationally recognized initiatives or guidelines to enhance the quality and transparency of information disclosure.

Sustainable Development Team

The Administration Department leads the proposal and implementation of sustainable development policies, systems, or related management guidelines and specific promotion plans. The Sustainable Development Team holds regular integration meetings every year to set goals, monitor progress and evaluate performance in various areas of sustainable work, a sustainable policy will be established and implemented upon approval by the Board of Directors. The Administration Department will be responsible for this within four months following the end of each fiscal year, submit execution results from relevant units to the board of directors, and prepare the annual Sustainable Development Report.

2024 Annual Report

II. Corporate Governance

2. Expressly state how the identified climate risks and opportunities affect the enterprise’s business, strategies and finance (short-term, mid-term and longterm)

Climate Risk Identification

Climate change risks not only affect the operations of financial institutions but also pose significant challenges to investment assets and businesses. For example, fluctuations in the prices of investment targets can impact the Company's profitability. In the wake of changes in climate and the overall market transitioning towards a low-carbon future, varying degrees of impact will be felt at different times, subsequently affecting existing risks such as reputational risk, market risk, and operational risk. Through PSC’s climate risk identification process, the potential financial impact on the Company is assessed based on the types of physical and transition risks, allowing for integration and management within the current risk management framework.

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Potential financial
Risk description Affected aspect Duration Related risk
impact
Operational disruption for
Investment
investment targets resulting from Mid-term Market risk Investment loss
Physical extreme weather conditions business
risk
Disruption for the Company’s PSC business Increase in
Mid-term Operational risk
operational locations operation operational costs
Costs in response to carbon Increase in
Supplier Mid-term Operational risk
reduction policies and regulations procurement costs
Impact on company reputation Investment loss
Transition PSC business Market risk
resulting from investment in high- Long-term Damage to brand
risk operation Reputational risk
pollution industries image
Costs of the industry transitioning Increase in
Supplier Short-term Operational risk
to green energy procurement costs
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Identification of Climate Opportunities

With the market placing more emphasis on climate and sustainability issues, climate change brings physical and transitional risks, as well as opportunities. Following the resolution of the United Nations COP28 Climate Summit, transition away from all fossil fuels has become a consensus among many countries. Additionally, the financial industry must play a positive role by directing funds towards environmentally friendly sectors, such as green energy, electric vehicles, green steel and sustainable agriculture. President Securities is actively involved in responsible finance, greenfinance and digital finance among other related businesses to support the transformation and development of low-carbon technologies, while also addressing climate change.

PSC actively seeks opportunities for climate transformation through questionnaires and interdepartmental integration meetings. This involves collecting and evaluating potential opportunities and policies formulated by each department's expertise. After analysis and discussions by various departments, President Securities has identified projects that are highly likely to have a positive impact and occurrence due to climate change. These projects include green procurement and operations, digital finance, and sustainable culture. Moving forward, all departments of the Company will continue to focus on climate change issues and changes in the financial market, address relevant issues related to climate change and develop response strategies to sustain the development of business opportunities in corresponding areas.

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President Securities Corporation

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Climate Opportunities analyze
Opportunity
Opportunity Impact to PSC PSC's Countermeasures
description
Sustainable procurement is a fundamental core
value for businesses to promote sustainable
The Potential Benefits development. Prioritizing the purchase
Green
of Green Procurement of products with a lower environmental Passed IS014064-1&IS014001 SGS
1 Procurement
and Green Operations impact bolsters the production and use of external verification.
(Operations)
to the Company environmentally friendly products, thereby
achieving the benefits of environmental
protection.
1.Associated Account Review (In Progress),
The trend of accelerating digitization in low-
Complaint System, Default System
carbon transformation not only catalyzed
2.Customers can now electronically apply
various digital customer experiences, but also
Potential Benefits of for daily trading limits. A new feature called
Digital becomes evident in administrative processes.
2 Digitizing Operations "Credit Account" has been added, enabling
Financial It is hoped that greenhouse gas emissions and
to the Company customers to apply for a securities lending
waste generation would be reduced through the
account from the comfort of their homes.
reduction of paper consumption and physical
Additionally, customers can also arrange
operation processes.
for stock lending simultaneously.
1.Employee education and training on
Relentlessly enhance training for employees climate risk are scheduled to be launched
Potential Benefits on ESG or climate-related issues and cultivate this fiscal year.
Sustainable of Sustainable sustainable talent to effectively respond to the 2.Supervisory management training, digital
3
Culture Operations to the low-carbon transition trend and strengthen transformation training series, wealth
Company climate resilience, which in turn creates new management training series, and reserve
business opportunities. supervisor program, among other training
programs.
In recent years, traditional financial services 1.The updated version of the PSC mobile
have been actively seeking opportunities trade app was launched at the end of
for innovation and transformation. Digital 2022, offering customers a comprehensive
Potential Benefits of Finance has already become the mainstream, financial service solution.
Customer Digitizing Customer and the trend of low-carbon transformation 2.Account opening, application
4
Experience Service to the has been spurred by climate changes. Under submission, electronic billing, account
Company these circumstances, the digitization process inquiry notifications, digital signing,
is accelerating, and consumers' purchasing basic information updates, online deposits
decisions for goods or services may even be and prepayments, and online public
influenced by digital services. acquisitions.
1.Organizing and underwriting stocks in the
The securities industry can use funds to green industry will help improve the market
drive the development of green industries. position of President Securities' Capital
Potential Benefits This includes developing the country's green Market Department.
of Green Bonds bond market, encouraging investment and 2.Investing in a green energy company
Green
5 and Green Energy underwriting for green bonds, investing in before its initial public offering (IPO) is
Investment
Investment to the green energy industries and underwriting for anticipated to generate higher returns once
Company green industry stocks. By doing so, we can it goes public.
guide responsible investment in the capital 3.Increasing the proportion of green
market. investments and keep up with the current
trend is beneficial to the Company's image.
The Company can launch funds or ETNs
Potential Benefits linked to ESG issues, as well as investment
ESG products that are linked to climate-related President TIP FactSet Taiwan Smart
of Rolling Out
6 Product / matters. This can boost the brand perception Mobility and Electric Vehicles Total Return
Innovative Products to
Service among the Company's present and potential Index ETN(020030).
the Company
customers, and indirectly increase in overall
revenue.
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Note: The table above please refer to 2024 Task Force on Climate-Related Financial Disclosures ,TCFD .(3-1 Identification of Climate Opportunities)

2024 Annual Report

II. Corporate Governance

3. Expressly state the impact to be posed by extreme climate incidents and transformation actions to finance

Please refer to Section 5. Climate Risk Scenario Analysis for details on the impact of transformation risks on the financial situation of the invested company.

4. Expressly state how to integrate the climate risk identification, assessment and management procedures into the entire risk management system

4.1 The Company rigorously and diligently manages climate risks, with the Board of Directors serving as the highest governance body for climate-relatedissues. A top-down approach is adopted in terms of promoting and supporting comprehensive efforts to raise awareness among all employees about the importance of climate change and collectively addressing the climate issues faced by the Company. On December 22, 2022, the Board of Directors approved amendments to the Risk Management Policy, incorporating climate risks into the scope of risk management. On December 8, 2022, the Risk Management Committee approved amendments to the risk management guidelines, inserting provisions for climate risk scenario analysis and climate risk management.

4.2 The climate risk measurement mechanism for investment positions is based on Section VIII, (3) Climate Risk Scenario Analysis of the President Securities Corporation Risk Management Guidelines, where according to Network of Central Banks and Supervisors for Greening the Financial System(NGFS) and Intergovernmental Panel on Climate Change(IPCC), suitable climate scenarios are selected to simulate the profit and loss situation. The Risk Control Office shall report to the Board of Directors on an annual basis.

5. If the scenario analysis is applied to assess PSC’s resilience to deal with climate change risks, the scenarios, parameters, assumptions, analysis factors and major financial impacts applied should be explained.

Given that various countries are gradually implementing carbon pricing mechanisms to achieve global warming mitigation goals, enterprises will face additional compliance costs. PSC has chosen to conduct scenario analysis on carbon cost transition risks to further assess these impacts.

Transition Risk Scenario Analysis

In light of the increasingly stringent carbon emissions regulations, the Company has conducted scenario analysis through a systematic assessment process to understand the potential financial impact of additional compliance costs incurred by investee companies on PSC's investment positions. Climate scenarios are coordinated in the analysis to simulate the potential financial losses under various climate scenarios, including Below 2°C, Net Zero 2050, and Delayed Transition. This information will serve as a criterion for evaluating future investment portfolios and further aid in the development of strategies and measures to enhance the Company's climate risk management. Scenario Analysis

Quantitative Assessment: The Impact of Carbon Costs on Stock and Corporate Bond Investments Time of analysis: 2030 / 2035 / 2040 / 2045 / 2050

Climate scenarios hypothetical

(1) Below 2°C: Achieve net zero carbon dioxide emissions after 2070

(2) Net Zero 2050: Achieve net zero carbon dioxide emissions by 2050

(3) Delayed Transition: Assuming that global carbon dioxide emissions will not decrease before 2030, strong and effective policies will be needed to limit global warming to below 2°C

Assessment Results

In the more stringent 1.5°C scenario (Net Zero 2050), the increase in carbon fee costs resulted in a loss of approximately 237 million investment positions, accounting for approximately 0.67% of the net value of the year [net value 35.289 billion]. According to the evaluation of the Risk Management Committee, the financial impact caused by the transformation risk has not reached 1% of the net value, and it is believed that this risk is still within a controllable range. In the future, the Risk Control Office will continue to track the impact of carbon fee costs on investment positions.

6. If any transformation plan in response to the climate risk management is in place, please describe the contents of the plan, and the indicators and targets used to identify and manage the tangible risk and transformation risk

Climate Strategies

President Securities operates in the financialservices industry with a relatively low environmental impact compared to other industries. As the impact of extreme weather on the Earth intensifies, the responsibility for a sustainable environment becomes a shared goal for every global citizen. President Securities endeavors to transform the Company into a comprehensive green financial enterprise, guided by the corporate social responsibility principle of "You care, we act!". Internally, we are fully implementing energy-saving and carbon reduction measures, and throughout the organization, we are investing in green innovation and transformation with the aim to establish President Securities as an environmentally friendly and dynamic green enterprise.

PSC is committed to environmental sustainability in four key areas: Low Carbon Transformation, Resource Sustainability Management, Green Procurement, and Sustainable Financial Strategy. The Company has established the Eco-Friendly LOHAS Network on its intranet to share new knowledge and environmental awareness with PSC employees, ensuring that every member of PSC can contribute to a more sustainable future by integrating sustainability into their daily lives.

President Securities Corporation

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Strategy Performance of 2024
• [A comprehensive review of PSC's business and administrative processes was conducted to digitize ]
paper-based operations entirely, simplify workflows and reduce carbon emissions.
• [In energy and greenhouse gas management, PSC has been conducting ISO14064-1 greenhouse ]
gas inventories since 2019. In 2020, the scope was expanded to include Scope 3 emissions, and
the Company obtained third-party verification. To further enhance the greenhouse gas verification
coverage in 2023, the Company will expand the verification scope to Consolidated Financial
Low Carbon Transition Statements of Subsidiaries. To increase energy efficiency and strengthen carbon reduction
management, the ISO 50001 energy management system (EnMS) was implemented in 2024, and a
third-party verification certificate was acquired.
• [At the end of the year, the President TIP FactSet Taiwan Smart Mobility and Electric Vehicles ]
Total Return Index ETN had a total of 14,560 issued and circulating shares, with a market value of
approximately NT$93 million.
Based on the procurement standards of green environmental protection, energy-efficient and radiation
protection, the total green procurement amount in 2024 was NT$29.13 million, 5.87% of the total
Green Procurement procurement amount. Include
• [NT$ 2.64 million for the procurement of green building materials ]
• [NT$11.74 million for the purchase of IT equipment.]
• [The President Securities Corporation Sustainable Finance Guidelines were finalized and put into ]
Sustainable Financial effect in 2021.
Strategy • President Securities enhanced ESG-related industries and investment targets in 2024. The total
(Responsible Investment) for ESG-screened investments and green bonds were NT$4.306 billion and NT$2.072 billion,
respectively.
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Climate Indicators and Goals

In order to mitigate the impact of climate change on its operations, the Environmental Protection Promotion Team Taskforce provides regular reports to the President on the implementation and effectiveness of various environmental initiatives while the Sustainability Taskforce reports the carbon emissions (CO2e/ton) to the Board of Directors. The specific measures and plans for implementation are outlined below:

(1) Greenhouse gas emissions (Scope 1+2)

Measurement: Carbon dioxide equivalent (ton CO2e)

Goal:

  - Carbon emissions in 2025 achieving a 5% reduction compare to baseline year.

  - Carbon emissions in 2027 achieving a 10% reduction compare to baseline year.

  - Carbon emissions in 2030 achieving a 15% reduction compare to baseline year.

(2) Electricity conservation
[Measurement: Total consumption of purchased electricity or electricity consumption per capita]
[Goal: Electricity consumption reduced by 1%]
(3) Green procurement
[Mid-term Goal: Besides purchasing energy-saving equipment, purchase low-pollution, recyclable eco-friendly equipment.]
[Long-term Goal:]
Gradually replace the old split-type air conditioners (R22 Freon) in each floor of our Company, with first-grade or second-grade energy-conserving frequency conversion air conditioning products. Meanwhile, apply for Commodity Tax reduction of National Taxation Bureau, and engage professional consultants to evaluate and assist the Company in energy conservation and improvement plans.
Install air curtains with automatic doors on every floor in the office building.
(4) Engagement and communication

Goal: Ensure that all employees and governance units have a comprehensive understanding of sustainability and climate-related issues, and continue to plan training courses and actively invite relevant personnel to participate.

7. If the internal carbon pricing is applied as a planning tool, please specify the pricing basis

The Company has yet to implement an internal carbon pricing management system.

8. If any climate-related target is set, please specify the activities, scope of GHG emissions, planning schedule and annual achievement progress covered by the target. If carbon offsets or renewable energy certificates (RECs) are used to achieve related goals, please specify the source and quantity of offset carbon reduction limit, or quantity of RECs

The Company has established targets for reduction of greenhouse gas emissions with 2022 as the baseline year, with the goal of achieving a 5% reduction in emissions by 2025 and a 15% reduction by 2030. The inventory of greenhouse gas emissions was initiated in 2017 and expanded to include subsidiaries in 2022.

2024 Annual Report

II. Corporate Governance

Inventory scope: Including Presidnet Securities Co., Ltd. , PSC Venture Capital Investment Co., Ltd. , President Insurance Agency Co., Ltd. , President Capital Management Corp., President Futures Co.,Ltd., President Securities (Hong Kong) Limited. Inventory items: Inclusive of Scope 1, Scope 2, and Scope 3 (which includes but is not limited to activities such as business travel and waste disposal).

Renewable Energy: Procured green electricity with integrated electricity certificates in 2023, and the wheeling was started from May, 2024. Total used 39.047 thousand kWh green electricity, and 19.30 metric tons of CO2e emissions in 2024. The goal is that by 2030, the proportion of green electricity for the head office will be 15%.

9. GHG inventory and assurance status, GHG reduction targets, strategies, and action plans

9-1 GHG accounting and assurance status for latest two years

(1) GHG inventory status

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According to the roadmap for sustainable development
The Company's basic information of listed companies, at least the following should be
disclosed
□ Parent Company Individual Inventory
█ Consolidate Financial Report Subsidiary Inventory
█ Companies with a capital of more than NT$10 billion
□ Parent Company Individual Assurance
□ Consolidate Financial Report Subsidiary Assurance
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2022 2023 2024
Total Total Intensity Total Intensity
Parent Company emissions Intensity(Metric emissions (Metric tons emissions (Metric tons
tons of CO2e/
(Metric tons (Metric tons of of CO2e/NT$ (Metric tons of of CO2e/NT$
NT$ Million)
of CO2e) CO2e) Million) CO2e) Million)
Scope 1 215.87 266.08 190.98
Scope 2 2,952.70 2,785.51 2,697.13
0.6485 0.4261 0.2912
Scope 3 251.53 646.47 613.89
Subtotal 3,420.10 3,698.06 3,502.00
2022 2023 2024
Consolidated Total Total Intensity Total Intensity
Intensity(Metric
Statements emissions tons of CO2e/ emissions (Metric tons emissions (Metric tons
(Metric tons (Metric tons of of CO2e/NT$ (Metric tons of of CO2e/NT$
NT$ Million)
of CO2e) CO2e) Million) CO2e) Million)
Scope 1 234.40 282.99 207.36
Scope 2 3,494.66 3,309.38 3,200.64
0.6347 0.4560 0.3173
Scope 3 251.53 759.25 726.48
Total 3,980.59 4,351.62 4,134.48
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*In 2022, only President Securities underwent third-party verification. The revenue of the consolidated financial statements for 2023 is NT$9,542,583 million. The revenue of the consolidated financial statements for 2024 is NT$13,029,981 million.

*Scope 3 emissions encompass business travel, general waste collection and disposal, as well as upstream activities in the power sector, data of 2022 only include President Securities.

< Scope 3 of Financed Emissions >

As climate conditions worsen, President Securities Corporation is committed to transitioning to net zero and exerting a financial impact in the future. President Securities Corporation followed “Global GHG Accounting and Reporting Standard for the Financial Industry”, announced by Partnership for Carbon Accounting Financials (PCFA), to understand the carbon emissions of its investment positions. According to the standard, the Company conduct the financed emissions inventories based on the regulated asset categories and methodologies specified in the Scope 3.

This scope of emissions inventories includes listed or OTC equities, corporate bonds, unlisted equities, and sovereign debts, the coverage rate conforms to the PCAF methodology is 83.03%, the coverage rate according to the PCAF methodology for the fiscal year 2024 reached 82.62%, the overall data quality score is 1.62.

Note: 1. The coverage rate conforms to the PCAF methodology = The percentage of the investment business department that conforms to the PCAF methodology out of the total investment business department.

The coverage rate according to the PCAF methodology = The ratio of investment positions examined using the PCAF methodology to the total number of investment positions. However, certain investment targets cannot be included in the analysis due to insufficient data availability.

President Securities Corporation

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Financial asset holdings GHG emissions
Positions Financed Emissions Intensity Data Quality
(in NTD million) (ton /CO2e)
Listed or OTC Equity 20,124.5 35,122.68 1.75 1.33
Corporate Bonds 26,382.53 55,713.8 2.11 1.49
Unlisted Equity 4,023.7 176.34 0.04 3.69
Sovereign Bonds 4,587 29,838.16 6.5 2.00
The company 55,117.73 120,850.98 2.19 1.62
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Note:1. The calculation of GHG emissions includes listed equities and corporate bonds (excluding derivatives, ETFs and green bonds), unlisted equities, as well as positions held in sovereign bonds through the latest announcement by external database in January, 2025. The calculation is based on the PCAF methodology, using the most recent data available.

Listed equity, corporate bonds, and unlisted equity are calculated based on scope 1 and 2 greenhouse gas emissions of the invested companies. 3.Financed Emissions Intensity is calculated by dividing financial asset carbon emissions (in metric tons CO2e) by financial asset holdings (in NTD million).
According to the PCAF methodology, data quality is rated on a scale of 1 to 5, with 1 being the highest and 5 being the lowest.

(2) GHG assurance status

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Year Assurance Institution Assurance range Assurance statement
2022 SGS Taiwan Ltd. Head Office ISO 14064-1 Reasonable Assurance Level
2023 DNV Business Assurance Parent Company and Subsidiaries ISO 14064-1 Reasonable Assurance Level
2024 SGS Taiwan Ltd. Parent Company and Subsidiaries ISO 14064-1 Reasonable Assurance Level
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*External verification for fiscal year 2024 has yet to be completed, and the complete assurance information will be disclosed in the sustainability report. Subsidiarie include PSC Venture Capital Investment Company Limited, President Insurance Agency Co., Ltd., President Capital Management Corp., President Futures Co., Ltd, President Securities (Hong Kong) Limited.

9-2 GHG reduction targets, strategies, and action plans

In 2023, the Taiwan Green Productivity Founda-tion provided assistance to assess large ener-gy-consuming equipment as well as the electricity usage of the headquarters building, aiming to effec-tively manage electricity consumption. Furthermore, a smart energy management system was installed in the headquarters to monitor air conditioning electricity consumption, establishing a founda-tion for future energy management.

Based on an analysis of electricity consumption data, the B1 and 3F contract capacities were adjusted in August 2024, resulting in an estimated annual savings of NT$231,402 in electricity costs.
The ISO 50001 energy management system was implemented in 2024 to conduct a comprehensive inventory and control of energy usage for large energy-consuming equipment within the building. In October 2024, the system passed SGS verification and received certification. The certification is valid from November 11, 2024 to November 11, 2027.
To ensure optimal equipment performance, regular self-maintenance inspections are conducted and high-energy-consuming equipment is replaced over time.
In 2024, the headquarters replaced the outdated air conditioning system on the 5th floor with a VRV system that meets first-level energy efficiency standards. This upgrade optimizes the air conditioning configuration and improves energy efficiency, resulting in an annual electricity savings of 58,988 kilowatt-hours and a reduction of 14.14 metric tons of CO2e.
Energy-efficient lighting replacement at the Pingtung and Changhua branch offices has been completed, resulting in an annual electricity savings of 29,424 kilowatt-hours and a reduction of 14.535 metric tons of CO2e.

• Green electricity procurement: In 2023, 60,000 kilowatt-hours of green electricity were procured, with supply commencing in May, 2024. The total usage of green electricity in 2024 was 39,047 kil-owatt-hours, resulting in a reduction of 19.30 met-ric tons of CO2e. The target is for green electricity to account for 15% of the total company usage by 2030.

Electrification of official vehicles: Based on lease terms, gasoline vehicles were gradually replaced with hybrid vehicles. By 2024, 66.7% of official vehicles were hybrid vehicles. The Company aims to achieve 75% hybrid vehicles by 2025 and 90% by 2030.

2024 Annual Report

II. Corporate Governance

H. Ethical business operation at the Company and related implementation and Deviations from “Ethical Corporate Management Best Practice Principles for TWSE/GTSM Listed Companies”

1. Ethical business operation

Our company has always applied the principle of “integrity and sustainable management”, to serve our customers sincerely. We also inherit the spirit of “3 Goods and 1 Fair”. We protect clients’ rights with flawless service. We pursue long-term, steady and balanced growth in the spirit of integrity management.

(1) The company has established “Ethical Corporate Management Best Practices Principles”, “Guidelines on Ethical Business Practice and Practice”, and “Fair Client Treatment Principles”, and strives to adhere to these concepts.
(2) The Company prioritizes corporate governance by ensuring the public disclosure of operational and financial information, thereby enhancing transparency.
(3) Insure company directors and managers’ liability insurance, also employees’ credit insurance.
(4) The Company is active in participating in community activities, and in fostering sustainable development.

Ethical Corporate Management:

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Implementation Status Deviations from the
Ethical Corporate
Management Best
Evaluation Item
Yes No Abstract Illustration Practices Principles for
TWSE listed companies
and reasons
I. Establishment of ethical corporate
management policies and programs
A. Does the company declare its ethical ✓ A. 1. On August 23, 2012, the Board of Directors issued None
corporate management policies and "Ethical Corporate Management Best Practice Principles"
procedures, formulate the Ethical and revealed the principle in 2013 shareholders’ meeting.
Corporate Management Policy This proves the management’s commitment to Integrity
approved by the Board of Directors has management. And in March 2020, the Board of Directors
been formulated, and, in its guidelines approved the establishment of an ethical corporate
and external documents, as well as management task force which served under the Board
the commitment from its board and of Directors. In August 2020, the Board of Directors
management level to implement the approved the establishment of "Guidelines on Ethical
policies? Business Practice and Practice" . In addition, the Company’s
Sustainable Development report delivers information
regarding the Company’s efforts in and contributions to
fulfilling its social responsibilities to stakeholders. The
Company’s senior management and board members are
responsible during supervision in line with the principle
of integrity in the execution of business, in order to
create a business environment in support of sustainable
development.
2. The Company’s Directors, Chairman, President, heads of
departments and consultants have all signed the Statement
of Compliance with Ethical Corporate Management Policy.
B. Has the company established an ✓ B. The Company has explicitly prohibited any direct or None
assessment mechanism designed to indirect offering, promising, requesting, or receiving of any
address the risk of unethical conduct, improper benefits.
regularly analyzed and evaluated 1. In addition to the Code of Ethical Business Practice, the
business activities with a high risk "Guidelines on Ethical Business Practice and Practice" was
of unethical conduct within the
updated in August, 2020 to prevent dishonesty. In addition
business scope, as well as formulated to what is set out in the ethical Corporate Management Best
unethical conduct prevention programs Practice Principles, the Company has clearly stipulated
accordingly? Such measure should at measures in the work rules that are designed to facilitate the
least covers activities stated in Article adoption of preventive measures and the Company offers
2, Paragraph 7 of the ethical corporate education sessions, to implement the ethical corporate
management best-practice principles management policy.
for TWSE listed companies.
2. In 2024, based on the risk assessment items for dishonest
business activities formulated in 2022, the Company's risk
assessment for dishonest business activities was determined
to be "low risk."
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President Securities Corporation

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Implementation Status Deviations from the
Ethical Corporate
Management Best
Evaluation Item
Yes No Abstract Illustration Practices Principles for
TWSE listed companies
and reasons
C. Does the company establish policies ✓ C. To execute integrity management and prevent dishonesty, None
to prevent unethical conduct with the company adds related rules to corporate governess
clear statements regarding relevant (Chapter 10 article 48) in 2012, which authorized by the
procedures, guidelines of conduct, Ministry of Labor and publicly announced. Later in 2016,
punishment for violation, rules of the Company established Measures for Whistle-blowing
appeal, the commitment to implement related to Illegal and Unethical Conduct and revised
the policies, and review / revise the these documents related to the Measures for Reporting of
policies regularly? Illegal and Unethical Conduct in 2019. Also, formulated
the procedures for ethical management and guidelines
for conduct in August, 2020 in order to implement the
Company’s work rules and ethical corporate management
principles, the Company has encouraged the reporting of
any illegal and unethical conduct as well as established
internal and external reporting channels and processing
procedures of the Company to ensure integrity and ethical
conduct within the Company.
II. Fufill ethical management
A. Does the company evaluate business ✓ A. 1. Before engaging in any business relationship with None
partners’ ethical records and include any agent, supplier, customer, or any other enterprise,
ethics-related clauses in business we conduct a thorough examination of that party’s
contracts? creditworthiness, so as to avoid entering into any
transactions with non-creditworthy parties. Included in all
agreements with third parties are provisions which allow for
the early termination of such agreement in the event of any
deceitful acts by that party.
2. PSC requires suppliers to sign a commitment to social
responsibility and implement our code of conduct for ethical
business practices.
B. Does the company establish an ✓ B. The Company has established the “Ethical Corporate None
exclusively dedicated unit supervised Management Practice Team” under the Board of Directors
by the Board to be in charge of and appointed the supervisor of Administration Department
corporate ethical management, and on as the convener, who is responsible for assisting the Board
a regular basis (at least once a year), and the management level to establish and supervise the
report the status of unethical conduct implementation of ethical corporate management policies
prevention programs, and the status of and protective measures and to ensure the execution of
the supervision of implementation of Ethical Corporate Management Best Practice Principles.
related ethics policies to the Board of The team reports to the Board of Directors annually
Directors?  The implementation of ethical corporate management
policies in 2024:
1. Policy announcement: The Company announce
and promote the policies to the employees. The
Administration Department announced “Developing the
corporate culture under ethical corporate management”
policy to prevent unethical behavior to 17,400
participants and 1,450 hours in 2024.
2. Training and education: Internal and external promotion,
training and education on ethical management held by
the Company:
Corporate Governance Courses held in 2024,
"Sustainable economic activities and biodiversity,
TNFD analysis", with a total of 35 participants and 105
hours;"Board legal compliance and compliance response
under Corporate Governance 3.0" and Ethical Corporate
Management Best Practice Principles promotion, with a
total of 37 participants and 111 hours. Legal compliance
for senior executives: Labor Laws Managers Must
Know, with a total of 57 participants and 171 hours.
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2024 Annual Report

II. Corporate Governance

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Implementation Status Deviations from the
Ethical Corporate
Management Best
Evaluation Item
Yes No Abstract Illustration Practices Principles for
TWSE listed companies
and reasons
B. Does the company establish an ✓ 3. Promotion of OTP authentication: Applications for None
exclusively dedicated unit supervised an "order certificate (including reissuance)" or "order
by the Board to be in charge of password (including reissuance)" require the use of
corporate ethical management, and on a one-time password generated by OTP, which is
a regular basis (at least once a year), disposable and used solely for verifying the authenticity
report the status of unethical conduct of user's identity, thereby safeguarding investors'
prevention programs, and the status of financial transactions.
the supervision of implementation of 4. Anti-fraud promotional activities:
related ethics policies to the Board of (1) In 2024, anti-fraud activities were conducted for
Directors? the elderly, disadvantaged groups with physical and
mental disabilities, and young people.
(2) Fraud Crisis: Stay Away from Fraud - Quiz and Prize
Draw Event
5. Ongoing Energy Saving and Carbon Reduction
Initiatives:
(1) In 2024, Head office have reduced a total of 48,588
sheets of A4 paper.
(2) Conducting ISO50001 energy Management System,
and passed third-party verification in 2024/10/17.
6. The Company has established clear reporting channels,
procedures, confidentiality measures, and a protection
mechanism for whistleblowers.
(1) Reporting line: (02) 2748-8173
(2) Reporting email: [email protected]
(3) In written form: Delivery to auditing office chief
auditor.
(4) Address: 13F., No. 8, Dongxing Rd., Songshan Dist.,
Taipei City 105
C. Does the Company establish policies to ✓ C. President Securities’ board is subject to a high degree of None
prevent conflicts of interest and provide self-regulation, whereby any board motion that is suspected
appropriate communication channels of having the potential to create any conflict of interest
for complaints and implement it? with the board or with any of its representatives or proxies
must undergo evaluation and may not be included in the
board agenda or voted upon by such party, and also may not
be voted on by any representative or proxy of such party.
Board members should exercise self-regulation and should
not conspire to support one another’s improper actions.
In order to enable the Directors’ and managers’ conduct
to be in line with the ethical standards and stakeholders
to better understand the Company’s ethical standards, the
Company has established the “Codes of Ethical Conduct for
Directors and Managers of President Securities Corporation”
in August 2018.
D. Has the company established effective ✓ D. 1. In 2024, based on the risk assessment items for dishonest None
systems for both accounting and business activities formulated in 2022, the Company's risk
internal control to facilitate ethical assessment for dishonest business activities was determined
corporate management, has the internal to be "low risk."
audit unit developed relevant audit 2. In order to ensure healthy and honest operations, the
plans based on the assessment results auditing office is required to submit a report on the adoption
of the analysis of the risk of unethical of the company’s principles for honest operation in its
conduct, and inspect for compliance annual audit report, and should ensure that such principles
with the unethical conduct prevention are included in the company’s Work Rules. The Committee
programs accordingly, or has the should also publish on the company website procedures for
company appointed CPAs to perform reporting problems and the corresponding punishments for
audits.? such offenses.
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President Securities Corporation

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Implementation Status Deviations from the
Ethical Corporate
Management Best
Evaluation Item
Yes No Abstract Illustration Practices Principles for
TWSE listed companies
and reasons
E. Does the company regularly hold ✓ E. The company regularly publishes “honest operation None
internal and external educational standards” and “honest operating procedure and
trainings on ethical management? regulations”, and promotes on the Company Website for all
employees.
III. Whistle-blowing system
A. Does the company establish a clear ✓ The Company has established “Guidelines for Handling Reports None
whistleblowing and reward system of Unlawful or Unethical Behavior”.
and set up a convenient channel for A. We have established a clear channel for receiving
reporting unethical activities and complaints:
reward system? Can the accused be 1. Complaint Hotline: (02) 2748-8173
reached by an appropriate person for 2. Complaint Email: [email protected]
follow-up? 3. Written Complaints: Complaints can be mailed or faxed
to our auditing office.
None
B. Has the company established ✓ B. Clear protocols for handling complaints have been
standard operating procedures for established as have confidentiality measures.
investigating any reported misconduct,
follow-up measures to be adopted
after investigations, and relevant
confidentiality mechanisms?
C. Does the company provide proper ✓ C. Clear measures have been put in place to protect those who None
whistleblower protection? register complaints.
IV. Strengthening information disclosure
Does the company disclose its ethical ✓ In keeping with the company’s ethical corporate management None
corporate management policies and policies, we disclose ethical corporate management procedures
results of its implementation on the through both our intranet and official website (www.pscnet.
company's website and MOPS? com.tw).
V. If the company has established the ethical corporate management policies based on the Ethical Corporate Management Best-Practice
Principles for TWSE/TPExListed Companies, please describe any discrepancy between the policies and their implementation: There
have been no differences.
VI. Other important information to facilitate a better understanding of the company's ethical corporate management practices (e.g.,
review and amend its policies): None.
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I. Other Important Information Regarding Corporate Governance

The Company has disclosed relevant important information regarding corporate governance on the Company’s website (Investor Section/Corporate Governance) and the Market Observation Post System (MOPS).

2024 Annual Report

II. Corporate Governance

J. Internal Control Systems:

1. Internal Control Declaration:

Internal control declaration

Implementation of the internal control system of President Securities Corporation

Date: February 26, 2025. The Company hereby declares the following based on its self -assessment result on the internal control system of 2024: I. The Company is fully aware that the Board of Directors and the management are responsible for the establishment, implementation, and maintenance of the internal control system and it is established accordingly. The purpose of establishing the internal control system is to reasonably ensure the fulfillment of operational effectiveness and efficiency (including profit, performance, and protection of assets safety), financial report reliability, timeliness, transparency and compliance with applicable rules, laws and regulations. II. The internal control system is designed with inherent limitations. No matter how perfect the internal control system is, it can only provide a reasonable assurance to the fulfillment of the three objectives referred to above. Moreover, the effectiveness of the internal control system could be affected by the changes of environment and circumstances. The Company’s internal control system is designed with a self-monitoring mechanism; therefore, the Company will take corrective actions upon identifying any nonconformity. III. The Company has assessed the design and operating effectiveness of the internal control system in accordance with the criteria provided in the “Regulations Governing the Establishment of Internal Control Systems by Service Enterprises in Securities and Futures Markets” (referred to as “the Regulations” hereinafter). The criteria defined in “the Regulations” include five elements depending on the management control process: 1. environment control, 2. risk assessment, 3. control process, 4. information and communication, and 5. supervision. Each of the five elements is then divided into a sub-category. Please refer to “the Regulations” for details. IV. The Company has implemented the criteria of the internal control system referred to above to inspect the design and operating effectiveness of internal control system. V. The Company, based on the inspection approach referred to above, has concluded that the internal control system (including the supervision and management over the subsidiaries) on December 31, 2024 is reasonably effective in achieving the objectives of operational effectiveness and efficiency, financial report reliability, timeliness, transparency and compliance with applicable rules, laws and regulations. Except for the attachment all above mentioned are valid. VI. The Statement is the main contents of the Company’s annual report and prospectus and will be made public. Any illegalities such as misrepresentations or concealments in the published contents mentioned above will be considered a breach of Articles 20, 32, 171, and 174 of the Securities and Exchange Act and Article 115 of Futures and Exchange Act, and entail legal responsibilities. VII. The Statement was resolved in the directors’ meeting with the 0 objection from the 12 attending board directors on February 26, 2025. The contents of the Statement have been accepted without any objection. President Securities Corporation Chairman: Lin, Kuan-Chen President: Yang, Kai-Chih Chief Auditor: Hsu, Wen-Ling CISO: Lin, Jung-Hui

President Securities Corporation

President Securities Corporation Internal Control System Findings and Remediation Action Plans

Area of Improvement	Improvement Measures	Expected improvement completion time
According to Official Letter No. 1120365300 and No. 11203653001 issued by the Financial Examina- tion Bureau on April 26, 2024, Financial Examina- tion Bureau had demanded the company to improve and imposed a penalty of NT$ 540,000 for the following defects: 1. Sales personnel are responsible for safeguarding clients' passbooks and signed blank letters of authorization. 2. The log management mechanism for customer- related systems such as the internet is not yet fully established. 3. The application process for individual natural persons seeking professional investor qualification is not yet fully developed. 4. The handling fee rate for foreign securities exceeds the maximum limit set by the Taiwan Securities Association. 5. Disciplinary actions against audit personnel are proposed by the Administration Department, approved by the President, and then submitted to the Chairman for final approval. 6. Important information in the transaction documents was not presented in a prominent font or format as required, and certain mandatory items were not properly specified. 7. The "Non-financial Indicators" section of the sales personnel's investment product performance summary does not include the item related to customers' multiple redemptions and subsequent subscriptions. According to Official Letter No. 1120365835 and No. 11203658351 issued by the Financial Examina- tion Bureau on May 24, 2024, Financial Examina- tion Bureau had demanded the company to improve and imposed a penalty of NT$ 500,000 for the following defects: 1. The process for reporting suspected money laundering, terrorist financing, or the expansion of capital for military purposes will only be initiated after receiving approval from the President. 2. In the process of reporting suspected money laundering, terrorist financing, or the expansion of capital for military purposes, there are instances where the suspicious transaction reporting form has not been treated as a confidential document.	1. Sales personnel have been instructed to perform their duties in accordance with Article 18 of the "Regulations Governing Responsible Persons and Associated Persons of Securities Firms". 2. Given the system architecture and its importance, we have developed and are gradually implementing a system log management strategy to enhance storage planning and management. 3. On November 8, 2023, the Board of Directors approved an amendment to the review mechanism for the trading experience of professional investors, aimed at enhancing the application review process for disadvantaged groups. 4. The calculation logic for the handling fee rate of entrusted foreign bond transactions was revised on January 1, 2024. 5. The signature approval process for the form has been updated to correspond with the internal audit reporting structure. 6. The Company has updated the transaction documents, emphasizing key content items in bold and enlarged font, in compliance with regulations concerning the statement of account. 7. The amendments were approved by the Board of Directors on March 4, 2024. 1. On November 8, 2023, the Board of Directors approved an amendment to the "Anti-money Laundering and Counter-Terrorist Financing Procedures and Plans" regarding the reporting procedures for suspected money laundering or terrorist financing. Once approved by the designated anti-money laundering supervisor, the report will be submitted to the Investigation Bureau through the appropriate channels. 2. The Company has strengthened its advocacy efforts. In addition to affixing a confidential document seal on relevant documents, the mechanisms include, but are not limited to, the stipulation that, aside from inspections by the competent authority, other employees are prohibited from accessing or disclosing these documents, which must be stored in locked cabinets.	Has improved Has improved Has improved Has improved Has improved Has improved Has improved Has improved Has improved

Note: The penalties imposed by the Financial Supervisory Commission, including warnings or above or any fine of NT$240,000 or more, shall be listed one by one as well.

2024 Annual Report

II. Corporate Governance

President Securities Corporation Internal Control System Findings and Remediation Action Plans

Area of Improvement	Improvement Measures	Expected improvement completion time
3. In conducting the review of suspected money laundering transactions that meet the established criteria, there is a lack of detailed explanations for any anomalies noted in the "Manual Review Checklist". According to Official Letter No. 11303580191 and No. 11303580192 issued by the Financial Exam- ination Bureau on October 11, 2024, Financial Examination Bureau had demanded the company to improve and imposed a penalty of NT$ 300,000 for the following defects: 1. Senior executives have provided information about relatives to clients for the purpose of buying and selling securities. According to Official Letter No. 1130502565 issued by the Taiwan Stock Exchange on July 19, 2024, Taiwan Stock Exchange had demanded the company to improve for the following defects : 1.The Company's implementation of the online segmentation mechanism is still under development.	3. On January 9, 2024, the President approved the revision of the "Regulations for Manual Review of Suspected Money Laundering Patterns." If no anomalies are detected, an explanation for their absence must also be provided. 1. The Company has enhanced its compliance advocacy and mandates strict compliance to applicable regulations. 1. On October 26, 2024, a reassessment was conducted, leading to the establishment of a more robust network segmentation mechanism to improve the management of network segmentation strategies and firewall rules.	Has improved Has improved Has improved

Note: The penalties imposed by the Financial Supervisory Commission, including warnings or above or any fine of NT$240,000 or more, shall be listed one by one as well.

2. If the company has commissioned external auditors to review the company’s internal control system, the external auditor’s report should be disclosed: Not applicable.

President Securities Corporation

K. Major Resolutions of Shareholders Meeting and Board of Directors Meeting

1. Major resolutions of 2024 General Shareholders Meeting: Executed according to the resolution of the General Shareholders Meeting.

2024 Annual General Shareholders Meeting
(1) Matters to be ratified

Proposal 1 Proposed for approval of 2023 Business Report and Consolidated and Individual Financial Statements	Proposal 1 Proposed for approval of 2023 Business Report and Consolidated and Individual Financial Statements
Explanation	1.2023 Consolidated and Individual Financial Statements of the Company was audited and certified by accountant Lin, Se-Kai, Lo, Chiao-Sen from PwC. 2.Business Report as well as Consolidated and Individual Financial Statements were approved by the 15th Meeting of the 12th Board of Directors on March 4, 2024, and reviewed by the Audit Committee. 3.Please refer to Appendix 1 and Appendix 3 of the Meeting Manual for relevant information.
Resolution	The Company's shareholders present have total votes of 988,861,427 of which approval votes 948,747,384(including electronic votes of 748,029,713), disapproval votes 150,886 (including electronic votes of 150,886), abstention votes/no votes 39,963,157 (including electronic votes of 39,963,147, and invalid votes 0; the approval votes account for 95.94%, over half of the total votes of the shareholders present. The proposal made by the Board of Directors was approved as it was.
Proposal 2 Proposed for approval of 2023 profit distribution
Explanation	1.The Company's 2023 earnings distribution was conducted in accordance with laws and the Company's Articles of Incorporation. (refer to Appendix 4 of the 2024 Meeting Manual) 2.For the calculation of the 2023 proft to be distributed, from the unappropriated earnings of NT$5,323,972 at the beginning of the period, an decreasing adjustment of NT$131,338,534 loss in the remeasurement of defned beneft plan, and increasing by the after-tax net proft of NT$2,878,950,921 in 2023; in addition, setting aside legal reserve (10%) and special reserve (20%), Distributable earnings in 2023 amounted to NT$1,928,652,642, and the cash dividends to be paid was NT$1,921,697,373; a cash dividend of NT$1.32 would be paid per share. After approved at the shareholders' meeting, it is planned to invite the shareholders' meeting to authorize the Board of Directors to set the base date for ex-rights, ex-dividends and capital increasing. 3.In the future, if there is a change in the number of outstanding shares, it is planned to authorize the Board of Directors to adjust the allocation ratio according to the total number approved by the the shareholders' meeting via resolution and the number of the Company's ordinary shares actually in circulation on the record date for ex-dividends ; if the dividend allocated to shareholders is less than NT$1, the amount will be transferred to the Company's Employee Welfare Committee.
Resolution	The Company's shareholders present have total votes of 988,861,427, of which approval votes 949,035,033 (including electronic votes of 748,317,362), disapproval votes 780,813 (including electronic votes of 780,813), abstention votes/no votes 39,045,581 (including electronic votes of 39,045,571), and invalid votes 0; the approval votes account for 95.97%, over half of the total votes of the shareholders present. The proposal made by the Board of Directors was approved as it was.
Execution	On July 8, 2024, the Company announced that the ex-dividend date was July 29, 2024, and the payout of cash dividends was completed on August 15, 2024.

2024 Annual Report

II. Corporate Governance

(2) Matters to be discussed

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Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.
1. In respond to business adjustment, the company apply to abolish the following business –Concurrently
provide trust-type discretionary investment service as a SICE (securitiesinvestment consulting enterprise).
The business was approved by the 16 October 2023,Financial Supervisory Commission (FSC) Issued order
No.Financial-Supervisory-Securities-SITC-1120355710.
2. Comparison table of Amendments and Related Notes, Please refer to the table as follows:
Amendment Original Articles Amendment Instructions
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Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.	Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.	Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.	Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.	Proposal 1 Amendments to the Articles of Incorporation are proposed for discussion.
	1. In respond to business adjustment, the company apply to abolish the following business –Concurrently provide trust-type discretionary investment service as a SICE (securitiesinvestment consulting enterprise). The business was approved by the 16 October 2023,Financial Supervisory Commission (FSC) Issued order No.Financial-Supervisory-Securities-SITC-1120355710. 2. Comparison table of Amendments and Related Notes, Please refer to the table as follows: Amendment Original Articles Amendment Instructions
		Amendment	Original Articles	Amendment Instructions

Explanation		Article 2 The Company shall engage in the following business: 1. H301011, a securities dealer 2. H408011, an aid on futures transaction 3. H401011, a futures dealer 4. H105011, a trustee	Article 2 The Company shall engage in the following business: 1. H301011, a securities dealer 2. H408011, an aid on futures transaction 3. H401011, a futures dealer 4. H105011, a trustee 5. H304011, a securities investment consulting enterprise	1.Business Adjustment. 2. The company applies to abolish the following business – Concurrently provide trust-type discretionary investment service as a SICE (securities investment consulting enterprise). The business has been approved by order No. Financial-Supervisory-Securities- SITC-1120355710 issued on October 16, 2023 by the Financial Supervisory Commission (FSC).
		Article 26 These Articles were duly established on November 26, 1988 and the frst amendment was approved on December 28, 1988; ------------;the thirty-second amendment on June 27, 2024.	Article 26 These Articles were duly established on November 26, 1988 and the frst amendment was approved on December 28, 1988; ------------; the thirty-frst amendment on May 31, 2023. The efective date of Article 13, which were revised on May 31, 2023, is January	1. Add the date of current amendment. 2. Delete the thirteenth amendment efective date.
			1, 2024.

Resolution	The Company’s shareholders present have total votes of 988,861,427, of which approval votes 938,621,569 (including electronic votes of 737,903,898), disapproval votes 159,483 (including electronic votes of 159,483), abstention votes/no votes 50,080,375 (including electronic votes of 50,080,365, and invalid votes 0; the approval votes account for 94.92%, over half of the total votes of the shareholders present. The proposal made by the Board of Directors was approved as it was.

President Securities Corporation

(3) Election to be discussed

Proposal 1	Proposal 1	An election of the 13th Board of Directors.
Explanation		1. The 12th term of directors and supervisors of the Company will expire on July 19, 2024 and will be fully re- elected at this annual shareholders' meeting. 2. According to Article 13 of the Articles of Incorporation, the Company sets up 12 Directors, among which 4 are Independent Directors and 8 are non-independent directors, with term of three years(from June 27, 2024 upon Shareholders' meeting ends until June 26, 2027). Current directors are eligible for re-election. The Company adopts candidate nomination system in election of directors. Shareholders shall elect the directors from among the nominees listed in the roster of director candidates, basic information of nominees listed in the roaster. 3. Relevant election matters shall be handled in accordance with the Company's Rule for Election of Directors. 4. Please cast your vote. Title Name Education Experience Current Position The name of government or juridical person represented(please fll in complete name instead of abbreviation). Whether served as an Independent Director for Three Consecutive Terms? Holding Director Lin, Kuan- Chen • National Taiwan Sport University • Chairman of President Securities Corporation • Director of Taiwan Futures Exchange • Director of President Futures Corp. • Director of President Securities (HK) Ltd./ President Wealth Management (HONG KONG) Ltd. • Director of Jin Yuan President Securities Co., Ltd. • Chairman of Richness Cereal Trading Co., Ltd. • Director and General Manager of Fonmau Cereal Industrial Co., Ltd. • Director of Q-WARE Systems & Services Corp. • Director of President Securities (BVI) Ltd. • Director of President Securities (Nominee) Ltd. • Director/ Vice Chairman/ General Manager of President Securities Corporation • Chairman of President Securities Corporation • Director of Taiwan Futures Exchange • Director of President Futures Corp. • Director of President Securities (HK) Ltd./ President Wealth Management (HONG KONG) Ltd. • Director of Jin Yuan President Securities Co., Ltd. • Chairman of Richness Cereal Trading Co., Ltd. • Director and General Manager of Fonmau Cereal Industrial Co., Ltd. • Director of Q-WARE Systems & Services Corp. Kai Nan Investment Co., Ltd. N/A 42,253,212 Director Chen, Kuo- Hui • University of Strathclyde, MBA • Senior Vice President of Uni- President Enterprises Corp • Chairman of Kai Yu (BVI) Investment Co., Ltd. • Chairman of Tone Ren Enterprise Co., Ltd. • Director of President Securities Corp. • Director of President International Development Corp. • Director of Presicarre Corp • Director of Uni-President China Holdings Ltd./ President Enterprises (China) Investment Co., Ltd./ Uni- President Hong Kong Holdings Limited/ Uni-President (Vietnam) Co., Ltd./ Uni-President (Singapore) Pte. Ltd. • Supervisor of Champ Green (Shanghai) Consulting Co., Ltd./ United Advisor Venture Management Co.,Ltd. • Senior Vice President of Uni- President Enterprises Corp • Chairman of Kai Yu (BVI) Investment Co., Ltd. • Chairman of Tone Ren Enterprise Co., Ltd. • Director of President Securities Corp. • Director of President International Development Corp. • Director of Presicarre Corp • Director of Uni-President China Holdings Ltd./ President Enterprises (China) Investment Co., Ltd./ Uni- President Hong Kong Holdings Limited/ Uni-President (Vietnam) Co., Ltd./ Uni-President (Singapore) Pte. Ltd. • Supervisor of Champ Green (Shanghai) Consulting Co., Ltd./ United Advisor Venture Management Co.,Ltd. Kai Nan Investment Co., Ltd. N/A 42,253,212

2024 Annual Report

II. Corporate Governance

==> picture [441 x 74] intentionally omitted <==

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

The name of Whether
government or served as
juridical person an
Title Name Education Experience CurrentPosition (please fill in represented Independent Director Holding
complete name for Three
instead of Consecutive
abbreviation). Terms?
----- End of picture text -----

Title
Name
Education
Experience
Current
Position
The name of
government or
juridical person
represented
(please fll in
complete name
instead of
abbreviation).
Whether
served as
an
Independent
Director
for Three
Consecutive
Terms?
Holding
Director
Lu, Li-An
• Master of
Business
Administration/
Institute of
Financial
Management,
National Sun
Yat-sen
University
•
Vice President of Administration
and Spokesperson of ScinoPharm
Taiwan Ltd.
•
Director of President Transnet
Corp.
•
Director of President Securities
Corp.
•
Supervisor of Tong Kuan
Enterprise Co., Ltd.
•
Supervisor of Taiwan Bio Industry
Organization
•
Division Head of Treasury
Division, Uni-President
Enterprises Corp.
•
Vice president of IBT Securities
Co., Ltd.
•
Assistant Manager of Taiwan
International Securities Co.,Ltd.
•
President & CEO of
ScinoPharm Taiwan Ltd
•
Director of President Transnet
Corp.
•
Director of President
Securities Corp.
•
Supervisor of Tong Kuan
Enterprise Co., Ltd.
•
Supervisor of Taiwan Bio
Industry Organization
Kai Nan
Investment
Co., Ltd.
N/A
42,253,212
Director
Liu, Tsung-Yi
• Ph.D. in
Finance,
National
Chung Hsing
Uiversity,
R.O.C.
• MBA of
National
Taiwan
University,
R.O.C.
•
Senior Vice President/ Vice
President of Uni-President
Enterprises Corp, Business
Integration Division
•
Director of Presco Netmarketing,
Inc.
•
Director of President International
Development Corp.
•
Director of President Securities
Corp.
•
Director of Presicarre Corp.
•
Director of PAYUNi Co.,Ltd.
•
Director of Kuang Chuan
Dairy Co., Ltd./ Kuang Chuan
Foods Ltd./ Tait Marketing
& Distribution Co., Ltd./
Champ Green Capital Limited/
Yantai North Andre Juice Co.,
Ltd./ United Advisor Venture
Management Ltd./ SMS
Investment Management Co.,
Ltd./ SMS Capital Co., Ltd./
SMS Capital Management Ltd./
Shanghai Shunfeng Restaurant
Group Co., Ltd./ Huasui Tomato
Investment Company/ Woongjin
Foods Co., Ltd./Daeyoung Foods
Co., Ltd. /Uni-President(Korea)
Co., Ltd./ Changhua County
Chang Chun-Ya Private Social
Welfare Charity Foundation
•
Chairman of United Advisor
Venture Management Ltd.
•
President of Champ Green
(Shanghai)ConsultingCo.,Ltd.
•
Senior Vice President of Uni-
President Enterprises Corp,
Business Integration Division
•
Director of Presco
Netmarketing, Inc.
•
Director of President
International Development
Corp.
•
Director of President
Securities Corp.
•
Director of Presicarre Corp.
•
Director of PAYUNi Co.,Ltd.
•
Director of Kuang Chuan
Dairy Co., Ltd./ Kuang Chuan
Foods Ltd./ Tait Marketing &
Distribution Co., Ltd./ Champ
Green Capital Limited/ Yantai
North Andre Juice Co., Ltd./
United Advisor Venture
Management Ltd./ Shanghai
Shunfeng Restaurant Group
Co., Ltd./ Huasui Tomato
Investment Company/
Woongjin Foods Co., Ltd./
Daeyoung Foods Co., Ltd. /
Uni-President(Korea) Co.,
Ltd./ Changhua County
Chang Chun-Ya Private
Social Welfare Charity
Foundation
•
Chairman of United Advisor
Venture Management Ltd.
•
President of Champ Green
(Shanghai) Consulting Co.,
Ltd.
Kao Chyuan
Investment
Co., Ltd.
N/A
32,988,828
Director
Teng,
Wen-Hwi
• Ph.D.,
University of
San Francisco
• Master,
Harvard
University
• MBA, George
Washington
University
•
Chairman of Canking Investment
Co., Ltd.
•
Director of President Securities
Corp.
•
Director of Cayenne
Entertainment Technology Co.,
Ltd.
•
Chairman of Canking
Investment Co., Ltd.
•
Director of President
Securities Corp.
Canking
Investment
Co., Ltd.
N/A
17,947,517
Director
Lee,
Chi-Ming
• Department of
International
Business
Soochow
University
•
Director of Hui Tung Investment
Co., Ltd.
•
Vice Chairman of Hui Tung
Enterprise Corp.
•
Chairman of Chieforce Corp.
•
Director of President Securities
Corp.
•
Director of HHB Geriatric
Healthcare Corp./ Japan Asia
Specialities Co. Ltd./ Zhao Tung
Corp./ Chao Tung Corp./ Union
Chinese Corp./ Chang Kun ousing
Corp./ Point Deco Co., Ltd./ Huai
Ren International Co., Ltd.
•
Supervisor of Chang Kun
Housing Corp./ Chang Kun
InvestmentCorp
•
Director of Hui Tung
Investment Co., Ltd.
•
Vice Chairman of Hui Tung
Enterprise Corp.
•
Chairman of Chieforce Corp.
•
Director of President
Securities Corp.
•
Director of HHB Geriatric
Healthcare Corp./ Japan
Asia Specialities Co. Ltd./
Zhao Tung Corp./ Chao Tung
Corp./ Union Chinese Corp./
Point Deco Co., Ltd./ Huai
Ren International Co., Ltd.
•
Supervisor of Chang Kun
Housing Corp./ Chang Kun
Investment Corp.
Hui Tung
Investment
Co., Ltd.
N/A
10,819,517

President Securities Corporation

==> picture [440 x 68] intentionally omitted <==

Title
Name
Education
Experience
Current
Position
The name of
government or
juridical person
represented
(please fll in
complete name
instead of
abbreviation).
Whether
served as
an
Independent
Director
for Three
Consecutive
Terms?
Holding
Director
Lee,
Shu-Fen
•Ming
Chuan
University
•
Consultant of China F.R.P.
Corporation
•
Employee of Kao Ying-Shih Chinese
Culture Collection Educational
Foundation of Kaohsiung
•
Director of President Securities Corp.
•
Auditing Manager of Eternal
Materials Co., Ltd.
•
Accounting Assistant Manager of
Eternal Materials Co., Ltd.
•
Deputy Section Manager of Business
section of Eternal Materials Co., Ltd
•
Consultant of China F.R.P.
Corporation
•
Employee of Kao Ying-Shih
Chinese Culture Collection
Educational Foundation of
Kaohsiung
•
Director of President
Securities Corp.
N/A
N/A
5,000
Director
Juang,
Jing-Yau
• Golden
Gate
University,
MBA in
Finance
•
Vice President / Assistant Vice
President of Tainan Spinning Co.,Ltd
•
President of T.S. Retail and
Distribution Co.
•
Chairman of United Investment Pte.
Ltd.
•
Chairman of United Investment Pte.
Ltd.(Taipei)
•
Director of President Securities Corp.
•
Director of NANTEX Industry Co.,
Ltd.
•
Director of Nan Fan Housing Co.,
Ltd. / Q-Ware Systems & Services
Corp.
•
Director of T.S. Retail and
Distribution Co., Ltd.
• Director of Eten Technologies
Inc./ Universal Venture Capital
Investment Corp.
• Director of Nan Fan Development
Co.,Ltd
•
Assistant Vice President of
Tainan Spinning Co., Ltd.
•
President of T.S. Retail and
Distribution Co.
•
Chairman of United
Investment Pte. Ltd.
•
Chairman of United
Investment Pte. Ltd.(Taipei)
•
Director of President
Securities Corp./ Nan Fan
Housing Co., Ltd./ Q-Ware
Systems & Services Corp./
NANTEX Industry Co., Ltd./
T.S. Retail and Distribution
Co./ eten Technologies Inc./
Universal venture Capital
Investment Corp.
N/A
N/A
3,182
Independ-
ent
Director
Pai,
Chun-Nan
• Ph.D. in
Law,
Chinese
Culture
University
•
Vice Chairman of China
Petrochemical Development
Corporation
•
Director of BES Engineering Corp.
•
Director of Wei Lih Food Industrial
Co., Ltd.
•
Director of Veda Advanced
Technology Ltd
•
Independent Director of President
Securities Corp.
•
Chairman of The First Leasing Corp.
•
Chairman of Bo-Meng Investment
Co., Ltd.
•
Director of Taivex Therapeutics
Corporation
•
Independent Director of Megaforce
Company Ltd
•
Vice Chairman of China
Petrochemical Development
Corporation
•
Director of BES Engineering
Corp.
•
Director of Wei Lih Food
Industrial Co., Ltd.
•
Director of Veda Advanced
Technology Ltd.
•
Independent Director of
President Securities Corp.
N/A
None
0
Independ-
ent
Director
Song,
Yung-Fong
• The
University of
Iowa, MBA
•
Independent Director of President
Securities Corp.
•
Supervisor of Zhi Nong Green Power
Investment Co., Ltd.
•
Consultant / Partner of FCC Partners
Inc.
•
Partner of Oasis New Energy Inc.
•
Chief Strategy Officer of Max Pro
Capital Acquisition Company
•
Consultant of Max Pro Capital
Investments Co.,Ltd.
•
Partner of Max Pro Venture Capital
Company
•
Venture Partner of Leadsun
Investment & Asset Management Ltd.
•
Executive Vice President and CIO of
Chunghwa Telecom Co., Ltd.
•
General Manager of Chunghwa
Investment Company
•
Chairman of CIMB Advisory, Taiwan
•
Managing Director of CIMB
Securities, Taiwan
• Vice Chairman of ABN AMRO
Bank,Taiwan
•
Independent Director of
President Securities Corp.
•
Supervisor of Zhi Nong
Green Power Investment Co.,
Ltd.
•
Consultant / Partner of FCC
Partners Inc.
•
Partner of Oasis New Energy
Inc.
N/A
None
0

2024 Annual Report

II. Corporate Governance

==> picture [442 x 69] intentionally omitted <==

Title	Name	Education	Experience	Current Position	The name of government or juridical person represented (please fll in complete name instead of abbreviation).	Whether served as an Independent Director for Three Consecutive Terms?	Holding

Independ- ent Director	Horng, Yuan- Chuan	• Department of Economics, Soochow University	• Independent Director of Himax Technologies, Inc. • Independent Director of President Securities Corp. • Vice President of Finance Division of China Steel Corporation • Chairman of Gains Investment Corp.	• Independent Director of Himax Technologies, Inc. • Independent Director of President Securities Corp.	N/A	None	0
Independ- ent Director	Yang, Hui-Chu	• Department of Banking and Insurance, Ming Chuan University	• General Manager of Just A Investment Co., Ltd. • Independent Director of Poindus Systems Corp. • Managing Director / CIB Taiwan Senior CEO / Taipei Branch • General Manager / Representative of Natixis, Taiwan • IBD Taiwan Region CEO / Director/ IBD Director of Barclays,Taiwan / HK	• General Manager of Just A Investment Co., Ltd. • Independent Director of Poindus Systems Corp.	N/A	None	0

==> picture [497 x 60] intentionally omitted <==

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

Results:
SHAREHOLD-ER’S
ELECTION
ACCOUNT NUMBER NAME VOTES RECEIVED RESULTS
CATEGORIES
OR ID
Kai Nan Investment Co., Ltd.
DIRECTOR 42740 1,068,889,595 Elected
----- End of picture text -----

	ELECTION CATEGORIES DIRECTOR	ACCOUNT NUMBER OR ID 42740	NAME Kai Nan Investment Co., Ltd. LiKCh	VOTES RECEIVED 1,068,889,595	RESULTS Elected
			n,uan-en
	DIRECTOR	42740	Kai Nan Investment Co., Ltd. Chen,Kuo-Hui	1,062,356,252	Elected
	DIRECTOR	42740	Kai Nan Investment Co., Ltd. Lu,Li-An	1,047,752,844	Elected
	DIRECTOR	28	Kao Chyuan Investment Co., Ltd. Liu,Tsung-Yi	1,046,504,598	Elected
Resolution	DIRECTOR	30	Canking Investment Co., Ltd. Teng,Wen- Hwi	919,497,046	Elected
	DIRECTOR	3126	Hui Tung Investment Co.,Ltd. Lee,Chi- Ming	919,476,050	Elected
	DIRECTOR	42761	Lee,Shu-Fen	919,237,806	Elected
	DIRECTOR	123653	Juang,Jing-Yau	916,445,203	Elected
	INDEPENDENT DIRECTOR	F10*27	Pai, Chun- Nan	824,748,935	Elected
	INDEPENDENT DIRECTOR	A12*04	Song, Yung-Fong	824,493,015	Elected
	INDEPENDENT DIRECTOR	D10*68	Horng, Yuan- Chuan	824,037,788	Elected
	INDEPENDENT DIRECTOR	A22*77	Yang, Hui-Chu	819,840,230	Elected

(4) Other Matters

Proposal 1 Proposal to release the newly elected directors from non-competition restrictions.	Proposal 1 Proposal to release the newly elected directors from non-competition restrictions.
Explanation	The proposal is to waive the non-compete clause for the 13th Director candidate Kuan-Chen Lin to act as the Director of Jin Yuan President Securities Corporation Ltd in accordance with Article 209 of the Company Act.
Resolution	The Company’s shareholders present have total votes of 988,861,427, of which approval votes 937,094,116(including electronic votes of 736,376,445), disapproval votes 1,204,804 (including electronic votes of 1,204,804), abstention votes/no votes 50,562,507 (including electronic votes of 50,562,497, and invalid votes 0; the approval votes account for 94.76%, over half of the total votes of the shareholders present. The proposal made by the Board of Directors was approved as it was.

Proposal 1
Proposal to release the newly elected directors from non-competition restrictions.

Explanation

The proposal is to waive the non-compete clause for the 13th Director candidate Kuan-Chen Lin to act as the
Director of Jin Yuan President Securities Corporation Ltd in accordance with Article 209 of the Company Act.

Resolution

The Company’s shareholders present have total votes of 988,861,427, of which approval votes 937,094,116(including
electronic votes of 736,376,445), disapproval votes 1,204,804 (including electronic votes of 1,204,804),
abstention votes/no votes 50,562,507 (including electronic votes of 50,562,497, and invalid votes 0; the approval
votes account for 94.76%, over half of the total votes of the shareholders present. The proposal made by the Board of
Directors was approved as it was.

Note: Please refer to the Market Observatory Post System—Annual Reports and Shareholders Meetings (including depositary receipt information) for relevant appendices of the meeting.

President Securities Corporation

2. Major Resolutions during the Board of Directors Meetings in 2024 and to the Publish Date of the Annual Report: Executed according to the resolution of the Board of Directors Meeting

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Meeting Item Resolution
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Meeting	Item	Resolution

2024.03.04 The 15th Board meeting of the 12th Board of Directors	1. Review of 2023 Business Report and Consolidated and Individual Financial Statements. 2. Accountant independence and competency evaluation. 3. Disclosure of qualitative information for risk management. 4. Application of increase in the credit lines of securities lending for agent's customers. 5. Amendment to Rules for Commission Payments to Brokerage Channel Sales Personnel. 6. Dunnan Branch Ofce Relocation Proposal. 7. Change of managers. 8. Annual plan for promoting sustainable development and annual execution plans for ESG matters. 9. Establish Procedure for Preparation and Assurance for Sustainability Report. 10. Proposal for people in authority (managerial officers) to serve as the directors and supervisors concurrently at subsidiaries in which the Company has invested. 11. Proposal regarding 2023 Employees and Directors Bonus Distribution Ratio. 12. Proposal regarding 2023 Employees and Directors Bonus Allocation. 13. 2023 Earnings Distribution. 14. Amended the Articles of Incorporation. 15. Amendment to the Audit Committee Charter. 16. Amendment to the Rules and Regulations for Board Meetings. 17. Report 2023 legal compliance risk assessment report. 18. The Company’s 2023 money laundering and terrorist financing risk assessment report. 19. Report 2023 Internal Control Certification on AML/CFT and Insider Trading. 20. Submitted the Statement of the 2023 Internal Control System. 21. Amendment to internal control system. 22. The implementation status from October to December in 2022 and annual self-assessment of the principle of fair treatment to consumers. 23. Applied for credit line for short-term loans from fnancial institutions. 24. Applied for credit line for short-term loans in foreign currencies from fnancial institutions for OSU. 25. Convene 2024 Annual Shareholders' Meeting. 26. Proposal regarding the election of the 13th Board of Directors. 27. Nominations for the 13th Board of Directors. 28. List of candidates nominated by the Board of Directors.	All Directors present voted in favor of the resolution without any objection.

2024 Annual Report

II. Corporate Governance

==> picture [540 x 19] intentionally omitted <==

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Meeting Item Resolution
----- End of picture text -----

Meeting	Item	Resolution

2024.05.08 The 16th Board meeting of the 12th Board of Directors	1. Application for Acquisition and Disposal of UPAMC ETF. 2. Amendment to internal control system. 3. Amendments to the statement of applicability of the information security management system. 4. Establishment of the regulations on the management of credit transaction account securities quota. 5. Application of increase in the credit lines of non-restricted purpose loans for Taichung Branch customers. 6. Proposal of Application for Increase in Dunnan Customer Financing and Margin Loan Limit. 7. Periodic review and application for maintaining credit line for non-restricted purpose loans. 8. Periodic review and application for maintenance of securities lending limits for domestic legal entities. 9. Proposal of periodic review for securities lending limits and application for maintenance of financing limit. 10. Periodic review of fnancing limit and application for maintenance of fnancing limit. 11. Increased the number of upstream securities frms for accepting orders to trade foreign securities. 12. Change of managers. 13. Establishment of the reporting procedure for major incidents. 14. Establishment of the guidelines for the implementation of Directors' education. 15. 2023 employee remuneration distribution proposal for managers. 16. Waive the non-compete clause of the Company's Directors. 17. Reviced the minute of 2024 shareholder meeting. 18. The Chairman of the Board is authorized to set the ex-dividend date after the proft distribution proposal is passed at the shareholders' annual general meeting. 19. Implementation of the Principle of fair treatment to consumers from January to March in 2024. 20. Applied for credit line for short-term loans from fnancial institutions. 21. OSU applied for short-term loan credit line in foreign currencies from fnancial institutions. 22. Application for an Increase in the Exemption Quota for the Issuance of Company Securities. 23. Review the list of nominees for the 13th Directors and Independent Directors.	For proposal 1 to 15 and 17 to 22, The chairman has the assent of all the Directors present voted in favor of the resolution without any objection. After the Deputy Chairman put forward the 16rd proposal for approval, it was passed unanimously by the Directors present at the meeting without any objections (excluding Chairman who recused himself from voting). After the Chairman put forward the 23rd proposal for approval, it was passed unanimously by the Directors present at the meeting without any objections (excluding Directors who recused themselves from voting).
2024.07.05 The 1th Board meeting of the 13th Board of Directors	Election matters: The election of the 13nd Chairman. 1. Proposal for the appointment of the president 2. Proposal for the renaming of the strategy development committee and amendments to the organizational regulations 3. The proposal regarding appointment of Sustainability and Strategic Development Committee. 4. The proposal regarding appointment of Audit Committee members. 5. The proposal regarding appointment of Remuneration Committee members. 6. The proposal regarding appointment of Risk Management Committee members 7. The appointment of trust supervisor personnel. 8. The proposal regarding change of department managers. 9. Proposal to increase allocated operating funds for proprietary trading business in futures	After the Deputy Chairman put forward the proposal for approval, Lin, Kuan-Chen has been unanimously elected as Chairman of the 13th session of the Board. After the Chairman put forward the 1~9 proposal for approval, it was approved unanimously by the Directors present at the meeting without any objection.

President Securities Corporation

==> picture [540 x 43] intentionally omitted <==

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

Meeting Item Resolution
2024.08.28 1. Discussed the Company's 2024 Q2 individual financial statements and the consolidated After the Chairman
The 2nd Board financial statements. put forward proposal
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Meeting	Item	Resolution
2024.08.28 The 2nd Board	1. Discussed the Company's 2024 Q2 individual fnancial statements and the consolidated fnancial statements.	After the Chairman put forward proposal
meeting of the 13th Board of Directors	2. Amendment to internal control system. 3.Application for credit risk limits on derivative fnancial product transactions with fnancial institutions. 4.Regulations for commissioning others to handle operations. 5.Amendment to the Rules and Regulations for Board of Directors. 6.Amendment to the anti-money laundering and counter terrorist fnancing cautions. 7.Amendment to the anti-money laundering and counter terrorist fnancing procedures and plans. 8.Renewal of liability insurance for Directors and key personnel. 9. The implementation status of the principle of fair treatment to consumers from April to June in 2024. 10. Proposal for people in authority (managerial officers) to serve as the directors and supervisors concurrently at subsidiaries in which the Company has invested. 11. Periodic review and evaluation of the policy and structure for the remuneration of the Company's Directors. 12. The proposal regarding change of department managers. 13.Proposal for the preparation of the 2023 sustainability report 14. Change of managers. 15.Amendment to the brokerage service fee rate and discount policy. 16.Proposal on Application of Increase in the Credit Line of Securities Lending for Foreign Legal Entity Customers 17. Application of increase in the credit lines of non-restricted purpose loans for Panchiao Branch customers. 18. Szichih Branch Ofce Relocation Proposal. 19.Remuneration of the President. 20.The proposal regarding the remuneration of the 13th Board of Directors. 21.The proposal regarding the remuneration of the 13th Independent Directors. 22.The proposal regarding the remuneration of the 13th Chairman. 23.Change of authorized signatory of the fnancial institution. 24. Applied for credit line for short-term loans from fnancial institutions. 25. OSU applied for short-term loan credit line in foreign currencies from fnancial institutions. 26. Application for an Increase in the Exemption Quota for the Issuance of Company Securities andFRCP Quota. 27. Application to Financial Institutions for a Foreign Currency Borrowing Limit	1~18,20 and 23~27 for approval, they were approved unanimously by the Directors present at the meeting without any objections. After the Chairman put forward proposal 19 for approval, it was approved unanimously by the Directors present at the meeting without any objections. (The President recused himself) After the Chairman put forward proposal 21 for approval, it was approved unanimously by the Directors (excluding independent directors) present at the meeting without any objections. After the Deputy Chairman put forward proposal 22 for approval, it was approved unanimously by the Directors (excluding Chairman) present at the meeting without any objections.
2024.11.06 The 3rd Board meeting of the 13th Board of Directors	1.Establishment of trading procedures for foreign securities and derivative fnancial products. 2.Amendments to the operating procedures for the wealth management business. 3. Amendment to the brokerage service fee rate and discount policy. 4.Amendment to the Procedures for Handling Consumer Disputes. 5. Periodic review and application for maintaining credit line for non-restricted purpose loans. 6.Proposal of periodic review for securities lending limits and application for maintenance of fnancing limit. 7.Periodic review and application for maintenance of securities lending limits. 8. Periodic review of fnancing limit and application for maintenance of fnancing limit. 9. Periodic review of margin trading limit and application for maintenance of margin trading limit. 10. Hsinchu Branch Ofce Relocation Proposal. 11. Change of managers. 12. Amendment to the Regulations Governing the Board Performance Evaluation. 13. Amendments to the policies and strategies of the principle of fair hospitality. 14. Implementation of the Principle of fair treatment to consumers from July to September in 2024. 15. Applied for credit line for short-term loans from fnancial institutions. 16. Applied for credit line for short-term loans in foreign currencies from fnancial institutions for OSU.	All Directors present voted in favor of the resolution without any objection.

2024 Annual Report

II. Corporate Governance

==> picture [540 x 21] intentionally omitted <==

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Meeting Item Resolution
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Meeting	Item	Resolution

2024.12.25 The 4th Board meeting of the 13th Board of Directors	1. Amendment to internal control system. 2. Report 2025 annual audit plan. 3. Established the limits for the Company's overall and departmental risk in 2025. 4. Chiayi Branch Ofce Relocation Proposal. 5.Application for designated collective money trust management business 6.Application for the discretionary investment business through trust for the securities investment advisory business 7.Establishment of a sustainable information management policy. 8.Amendment of the reporting procedure for major incidents. 9. Periodic review and evaluation of the remuneration policy and structure for the Company's senior executives and managers. 10. Change of managers. 11. 2025 budget and operation plan. 12.Proposal to increase the capital of President Futures Co., Ltd. 13.Application for an increase in the company's medium- to long-term frcp unsecured credit limit.	All Directors present voted in favor of the resolution without any objection.
2025.02.26 The 5th Board meeting of the 13th Board of Directors	1.Review of 2024 Business Report and Consolidated and Individual Financial Statements. 2.Accountant independence and competency evaluation. 3.Submitted the Statement of the 2024 Internal Control System. 4.Disclosed qualitative information about risk management. 5.Amendments to the operating procedures for the wealth management business. 6.Amendment to internal control system for brokerage business. 7.Establishment of operational guidelines for the commissioned purchase and sale of Foreign Virtual Asset ETFs. 8.Amended the Articles of Incorporation. 9.Report 2024 legal compliance risk assessment report. 10.The Company’s 2024 money laundering and terrorist financing risk assessment report. 11.Report 2024 Internal Control Certification on AML/CFT and Insider Trading. 12.The implementation status from October to December in 2024 and annual self-assessment of the principle of fair treatment to consumers. 13.Annual plan for promoting sustainable development and annual execution plans for ESG matters. 14.Authorization Proposal for Transaction Limits for Proprietary Trading Department. 15.The proposal regarding change of department managers. 16.Proposal regarding 2024 Employees and Directors Bonus Distribution Ratio. 17.Proposal regarding 2024 Employees and Directors Bonus Allocation. 18.2024 Earnings Distribution. 19.Convert retained earnings to capital. 20.Convene 2025 Annual Shareholders' Meeting. 21.Applied for credit line for short-term loans from fnancial institutions. 22.Applied for credit line for short-term loans in foreign currencies from fnancial institutions for OSU.	All Directors present voted in favor of the resolution without any objection.

L. Document or written statement that states different opinions by board members or supervisors against the approved major resolutions by the board meeting in recent fiscal period and to the publish date of the annual report: None.

President Securities Corporation

III. Information Regarding the Company’s Audit Fee and Independent Auditor

A. Range of Auditing Fee

Unit: NT$ thousands

Accounting Firm	Name of CPA	Period Covered by CPA’s Audit	Audit Fee	Non-audit Fee	Total	Remarks
PwC Taiwan	Lin, Se-Kai Kuo, Puo-Ju	2024.01.01- 2024.12.31	5,420	10,565 (Note)	15,985	(Note)

Note: Information Security Testing and Consulting Services, attestation of Tax Returns, transfer pricing profit indicator analysis, sustainability reporting consultancy and assurance report, consulting services for the implementation of IFRS sustainability disclosure standards, consulting services for compliance guidance on outsourcing operations of securities firms, consulting services on financial carbon inventory, consultation services on disclosure recommendations for climate-related financial information (TCFD), certification service for salary information checklist for non-executive full-time employees.

B. If there is any change in the appointed in dependent auditors and the Company’s annual auditing expenses decreased simultaneously, information regarding the amount, percentage and reasons for the decrease in auditing expenses shall be disclosed: None , not Applicable.
C. Auditing expenses decreased by 10% in comparison to the previous year, information regarding the amount, percentage and reason for the decrease in auditing expenses shall be disclosed: None , not Applicable.

IV. Replacement of CPA: PwC Taiwan adhered to the provisions of Article 122 of TWSQC1 Quality Control for Public Accounting Firms, the CPA shall be replaced on a regular basis. Starting from the beginning of 2025, the financial report CPA Lin, Se-Kai was replaced with Wang, Fang-Yu.

A. Regarding the Former CPA

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Replacement Year 2024
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Replacement Year	2024	2024	2024	2024

Replacement reasons and explanations	PricewaterhouseCoopers (PwC) Taiwan job rotation.
Describe whether the Company terminated or the CPA did not accept the appointment	Parties		CPA	The Company
	PricewaterhouseCoopers (PwC) Taiwan job rotation		Lin, Se-Kai Kuo, Puo-Ju	PSC
Other issues (except for unqualified issues) in the audit reports within the last two years		None
Differences with the company	Yes	-	Accounting principles or practices
		-	Disclosure of Financial Statements
		-	Audit scope or steps
		-	Others
	None	V
		Remarks/specify details: None
Other Revealed Matters (The provisions of Item 1-4 of Subsection 6 of Article 10 of the Guidelines shall be disclosed.)		None

2024 Annual Report

II. Corporate Governance

B. Regarding the Successor CPA

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Name of accounting firm PricewaterhouseCoopers (PwC) Taiwan
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Name of accounting firm	PricewaterhouseCoopers (PwC) Taiwan
Name of CPA	Attestation of Financial Statements: Wang, Fang-Yu and Kuo, Puo-Ju.
Year of appointment	2025
Consultation results and opinions on accounting treatments or principles with respect to specified transactions and the company's financial reports that the CPA might issue prior to the engagement.	None
Succeeding CPA’s written opinion of disagreement toward the former CPA	None

C. The official letter from former CPA in response to the provisions of Item 1 and 2-3 of Subsection 6 of Article 10 of the Guidelines: None.
V. If the Company’s Chairman, President, or managers responsible for financial and accounting affairs have held any position in the accounting firm or its affiliates during the past year, all relevant information should be disclosed: None.

President Securities Corporation

VI. Net Change in shareholdings and in shares pledged by directors, supervisors, manages, and shareholders holding more than a 10% share in the Company.

Unit: Share

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2024 As of March 31, 2025
Title Name Holding Increase Pledged Holding Holding Increase Pledged Holding
Increase Increase
(Decrease) (Decrease)
(Decrease) (Decrease)
Director Kai Nan Investment Co., Ltd. 0 0 0 0
Director Canking Investment Co., Ltd. 0 0 0 0
Director Hui Tung Investment Co., Ltd. 0 0 0 0
Director Kao Chyuan Investment Co., Ltd. 0 0 0 0
Director Lee, Shu-Fen 0 0 0 0
Director Juang, Jing-Yau 0 0 0 0
Independent Director Pai, Chun-Nan 0 0 0 0
Independent Director Song, Yung-Fong 0 0 0 0
Independent Director Horng, Yuan-Chuan 0 0 0 0
Independent Director Yang, Hui-Chu 0 0 0 0
President Yang, Kai-Chih 0 0 0 0
President Office Specialized Tsai, Sen-Bu 0 0 0 0
Commissioner
Finance Department Vice
An, Chi-Li 0 0 0 0
President
Quantitative Trading
Huang, Jung-Jen 0 0 0 0
Department Vice President
Financial Product Department
Pu, Chien-Heng 0 0 0 0
Vice President
Capital Market Department
Wei, Chih-Hsu 0 0 0 0
Vice President
Fixed Income Department Vice
Yeh, Ming-Chieh 0 0 0 0
President
Administration Department
Yu, Hung-Chieh (4,872) 0 0 0
Vice President
President Office Vice President Chen, Nai-Chen (90,000) 0 0 0
Information System
Lin, Jung-Hui 0 0 0 0
Department Vice President
Proprietary Trading Department Lin, Chun-Kuan
0 0 0 0
Investment Vice President (Acting)
Shareholder Services
Department Sales Vice Chueh, Chih-Chung (50,000) 0 0 0
President
Auditing Office Chief Auditor Hsu,Wen-Ling (2,000) 0 0 0
Quantitative Trading
Department Specialized Vice Lee, Chien-Hsin 0 0 0 0
President
Quantitative Trading
Department Specialized Vice Chien, Pang-Yen 0 0 0 0
President
President Office Project Vice Chang, Hung-Shuo 0 0 0 0
President
Capital Market Department
Chiang, Chang-Kuen 0 0 0 0
Senior Assistant Vice President
Capital Market Department
Lin, Wei-Hung 0 0 0 0
Senior Assistant Vice President
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100

2024 Annual Report

II. Corporate Governance

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2024 As of March 31, 2025
Title Name Holding Increase Pledged Holding Holding Increase Pledged Holding
Increase Increase
(Decrease) (Decrease)
(Decrease) (Decrease)
Finance Department Assistant
Su, Wei-Lun 0 0 0 0
Vice President
Financial Product Department
Chang, Chung-Lin (43,925) 0 0 0
Assistant Vice President
Shareholder Services
Department Assistant Vice Chang, Shao-Ping 0 0 0 0
President
Settlement & Clearing
Department Senior Assistant Wu, Sheng-Yu 0 0 0 0
Vice President
Capital Market Department
Chen, Chia-Chang 0 0 0 0
Assistant Vice President
Information System
Department Assistant Vice Hu, I-Der 0 0 0 0
President
Settlement & Clearing
Department Assistant Vice Huang, Chi-Ming 0 0 0 0
President
Risk Control Office
Chang, Ping-Chuan 0 0 0 0
Assistant Vice President
General Affairs Department
Chen, Shu-Fen 0 0 0 0
Assistant Vice President
Capital Market Department
Hsu, Hui-Chun 0 0 0 0
Assistant Vice President
Capital Market Department
Yeh, I-Lin 0 0 0 0
Assistant Vice President
Administration Department
Wu, Fang-Ling 0 0 0 0
Assistant Vice President
Information System Assistant
Liu, Chia-Hao 0 0 0 0
Vice President
Compliance Division Assistant
Su, Yung-Hsin 0 0 0 0
Vice President
Capital Market Department
Specialized Assistant Vice Lu, Hung-Ming 0 0 0 0
President
Brokerage Department Lin, Li-Lin
0 0 0 0
Supervisor Vice President (Acting)
Brokerage Department Vice
Hsu, Sheng-Hsiang 0 0 0 0
District Supervisor
Brokerage Department Vice
Lin, Yu-Ju 0 0 0 0
District Supervisor
Brokerage Department Vice
Cheng,Chih-Ming 0 0 0 0
District Supervisor
Acting Brokerage Department
Chiang, Wen- Ling 0 0 0 0
Vice District Supervisor
Brokerage Department Global
Wealth Management Division Wang, Ssu-Wei 0 0 0 0
Specialized Vice President
Global Institutional Service
Department Institutional Wang, Shi-Cheng 0 0 0 0
Service Vice President
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101

President Securities Corporation

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2024 As of March 31, 2025
Title Name Holding Increase Pledged Holding Holding Increase Pledged Holding
Increase Increase
(Decrease) (Decrease)
(Decrease) (Decrease)
Brokerage Department Debit
Chu, Chen-Pu 0 0 0 0
Center Assistant Vice President
Brokerage Department Digital Tsai, Shu-Mei
0 0 0 0
Business Department Manager (Acting)
Brokerage Department Digital
Finance Department Liu, Chun-Liang 0 0 0 0
Assistant Vice President
Prestige Wealth Center in
Northern Region Assistant Vice Cheng, Hsin-Ti 0 0 0 0
President
Wealth Management and Trust
Department Senior Deputy Kao, Hsiu- Lin 0 0 0 0
Manager
Tunghsing Equity Department
Chiu, Shyh-Tyng 2,000 0 0 0
Manager
Tunghsing Equity Department
Tsai, Shu-Mei 0 0 0 0
Manager
Tunghsing Equity Department
Fan, Tsung-En 0 0 0 0
Manager
Tunghsing
Kao, Jung 0 0 0 0
Business Section 1 Manager
Kaohsiung Branch Manager Wu, Huan-Chung 0 0 0 0
Chiang, Wen-Ling
Dunnan Branch Manager 0 0 0 0
(Acting)
Zhongli Branch Manager Lee,Wen-Tsui 0 0 0 0
Chengzhong Branch Manager Chung, Hui-Ju 0 0 0 0
Tainan Branch Manager Hsieh, Chia-Hsi 0 0 0 0
Taichung Branch Manager Shen, Hua-Chun 0 0 0 0
Hsinchu Branch Manager Lee, Chin-Yi 0 0 0 0
Chiayi Branch Manager Tsai, Ruo-Chen 0 0 0 0
Pingtung Branch Manager Tai, Hung-Da 0 0 0 0
Keelung Branch Manager Hung, Chien- Han 0 0 0 0
Yonghe Branch Manager Liu, Han-Chou 0 0 0 0
Xin Taichung Branch Manager Su, Chun-Lin 0 0 0 0
Hsinying Branch Manager Chiu,Chien-Feng 0 0 0 0
Changhua Branch Manager Yu, Fu-Tsun 189,646 0 0 0
Taoyuan Branch Manager Chiu, Ming-Kai 0 0 0 0
Yuanlin Branch Manager Huang, Chao-Cheng 0 0 0 0
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102

2024 Annual Report

II. Corporate Governance

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2024 As of March 31, 2025
Title Name Holding Increase Pledged Holding Holding Increase Pledged Holding
Increase Increase
(Decrease) (Decrease)
(Decrease) (Decrease)
Sanchung Branch Manager Lin, Pin-Chun 0 0 0 0
Shilin Branch Manager Hsu, Fu-Chiang 0 0 0 0
Panchiao Branch Manager Chiang, Chen-Hsiung 0 0 0 0
Cheng,Chih-Ming
Sanduo Branch Manager 0 0 0 0
(Acting)
Szichih Branch Manager Chou, Da-Kuang 0 0 0 0
Szichih Branch Manager Chou, Kuo-Hsiang 0 0 0 0
Ilan Branch Manager Lin, Chia-Hui 0 0 0 0
Nanjing Branch Manager Tseng, Chien-Ming 0 0 0 0
Kinmen Branch Manager Kang, Wen-Chieh 0 0 0 0
Tucheng Branch Manager Lin, Shao-Kang 0 0 0 0
Songjiang Branch Manager Lin, Shih-Wei 0 0 0 0
Songjiang Branch Manager Huang, Tung-He 0 0 0 0
Neihu Branch Manager Huang, Chih-Hua 0 0 0 0
Renai Branch Manager Wu, Yueh-Chung 0 0 0 0
Pingzhen Branch Manager Li, Shu-Jung 0 0 0 0
Zhunan Branch Manager Ma, Hsiang-Yi 0 0 0 0
Offshore Securities Unit Branch Lin, Li-Lin
0 0 0 0
Manager (Acting)
10% Shareholder Uni-President Enterprises Corp 0 0 0 0
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103

President Securities Corporation

VII. Information Disclosing the Relationship between any of the Company’s Top Ten Shareholders

As of March 31, 2025

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Shareholding
The relationship between any of the
Shareholding Spouse & Minor by Nominee
Name Arrangement Company’s Top Ten Share holders Remarks
Shares % Shares % Shares % Name Relation
1. President Chain Investees for whom
Uni-President Store Corp. valuation is conducted
417,516,621 28.678 0 0 0 0 NA
Enterprises Corp. 2. Kai Nan Investment under the equity
Co., Ltd. method
Lo, Chih-Hsien
Kao, Shiow- Ling
Delegate of
0 0 4,018,979 0.276 0 0 Delegate of Kao Spouse NA
Uni-President
Chyuan Inv. Co., Ltd.
Enterprises Corp.
President Securities
Corporation - Trust 45,547,502 3.128 0 0 0 0 NA NA NA
Account
Kai Nan Investment Uni-President
42,253,212 2.902 0 0 0 0 Note 2 NA
Co., Ltd. Enterprises Corp.
President Chain Uni-President
40,545,111 2.785 0 0 0 0 Note 2 NA
Store Corp. Enterprises Corp.
Lo, Chih-Hsien Kao, Shiow- Ling
Delegate of Kai Nan 0 0 4,018,979 0.276 0 0 Delegate of Kao Spouse NA
Investment Co., Ltd. Chyuan Inv. Co., Ltd.
Tainan Spinning Hsin Yung Hsing
34,096,102 2.342 0 0 0 0 Note 3 NA
Co., Ltd. Investment Co., Ltd.
Kao Chyuan Inv.
32,988,828 2.265 0 0 0 0 NA NA NA
Co., Ltd.
Kao, Shiow- Ling Lo, Chih-Hsien
Delegate of Kao Delegate of Uni-
4,018,979 0.276 0 0 0 0 Spouse NA
Chyuan Inv. Co., President Enterprises
Ltd. Corp.
Eternal Materials
22,137,767 1.520 0 0 0 0 NA NA NA
Co., Ltd.
Dr. C. Y. Kao’s Non-
Profit Foundation of
Culture & Education 18,975,361 1.303 0 0 0 0 NA NA NA
(In Memory of His
Mother)
Canking Investment
17,947,517 1.232 0 0 0 0 NA NA NA
Co., Ltd.
Hsin Yung Hsing Tainan Spinning Co.,
15,711,845 1.079 0 0 0 0 Note 3 NA
Investment Co., Ltd. Ltd.
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Note 1: The shareholding ratio was calculated based on the 1,455,831,343 shares of the share capital of President Securities Corporation. Note 2: Affiliates of Uni-President Enterprises Corp.

Note 3: Hsin Yung Hsing Investment Co., Ltd. is director of Tainan Spinning Co., Ltd.

104

2024 Annual Report

II. Corporate Governance

VIII. Ownership of Shares in Affiliated Enterprises

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As of March 31, 2025
Ownership by the Direct or Indirect Ownership by
Total Ownership
Affiliated Enterprises Company Directors, Supervisors, Managers
Shares % Shares % Shares %
President Futures Co., LTD 73,899,647 95.82 0 0 73,899,647 95.82
President Capital Management Corp. 30,000,000 100.00 0 0 30,000,000 100.00
President Securities (Hong Kong) Limited (Note1) 192,600,000 100.00 0 0 192,600,000 100.00
Jin Yuan President Securities Limited (Note2) 735,000,000 49.00 0 0 735,000,000 49.00
Uni-President Asset Management Corporation 14,904,630 42.46 12,000 0.03 14,916,630 42.49
President Insurance Agency Co., Ltd. 1,000,000 100.00 0 0 1,000,000 100.00
PSC Venture Capital Investment Company Limited 30,000,000 100.00 0 0 30,000,000 100.00
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Note : President Securities Nominee Limited and President Wealth Management (Hong Kong) Limited were liquidated in January, 2024 and July, 2024, separately.

Note 1: President Securities (Hong Kong) Limited was approved by the board of directors to deal with the dissolution and liquidation matters. The liquidation process is currently in progress.

Note 2: Jin Yuan President Securities Limited has no shares issuin. The Company investment amount is 735,000,000 RMB dollars.

IX. Name and position of the employees with the top ten amounts of bonuses as well as the total amounts of the top ten bonuses

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Unit: NT$ thousands
Name Title Bonuses (Note)
Yang, Kai-Chih President
Tsai, Sen-Bu Specialized Commissioner
Chang, Hung-Shuo Project Vice President
Lin, Li-Lin Supervisor Vice President
Wang, Shi-Cheng Institutional Service Vice President
2,876
An, Chi-Li Vice President
Wei, Chih-Hsu Vice President
Yeh, Ming-Chieh Vice President
Huang, Jun-Jen Vice President
Pu, Chien-Heng Vice President
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Note 1: Receive employee bonuses for 2023 in 2024.

Note 2: The sequence is arranged based on the department codes.

105

President Securities Corporation

X. Training of Directors and Supervisors

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Date of
Title Name Date Organization Credit Course
Inauguration
Board legal compliance and compliance
Lin, Kuan- Taiwan Institute of
Chen 2024.11.06 Directors 3 response under Corporate Governance
3.0
Chairman Delegate of Kai 2024.06.27
Nan Investment
Taiwan Institute of Sustainable economic activities and
Co., Ltd 2024.08.28 3
Directors biodiversity, TNFD analysis
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
3.0
Chen, Kuo-Hui Taiwan Institute of Generative AI industry development
2024.10.24 3
Delegate of Kai Directors trends
Director 2024.06.27
Nan Investment
Co., Ltd. Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
2024.04.25 Taiwan Institute of 3 Global economic outlook (inflation,
Directors interest rate policy, green trade war)
Board legal compliance and compliance
Taiwan Institute of
Lu, Li-An 2024.11.06 3 response under Corporate Governance
Directors
Delegate of Kai 3.0
Director 2024.06.27
Nan Investment
Co., Ltd. Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
Board legal compliance and compliance
Liu, Tsung-Yi Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Delegate of Directors
3.0
Director Kao Chyuan 2024.06.27
Investment Co.,
Taiwan Institute of Sustainable economic activities and
Ltd. 2024.08.28 3
Directors biodiversity, TNFD analysis
Chen, Ching-Yi
Director Delegate of Kai 2021.07.20 2024.04.25 Taiwan Institute of 3 Global economic outlook (inflation,
Nan Investment Directors interest rate policy, green trade war)
Co., Ltd.
Chen, Yi-Ling
Director Delegate of Kai 2021.07.20 2024.04.25 Taiwan Institute of 3 Global economic outlook (inflation,
Nan Investment Directors interest rate policy, green trade war)
Co., Ltd.
Board legal compliance and compliance
Teng, Wen-Hwi Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Delegate Directors
3.0
Director of Canking 2024.06.27
Investment Co.,
Taiwan Institute of Sustainable economic activities and
Ltd. 2024.08.28 3
Directors biodiversity, TNFD analysis
Board legal compliance and compliance
Taiwan Institute of
Lee, Chi-Ming 2024.11.06 3 response under Corporate Governance
Directors
Delegate of 3.0
Director Hui Tung 2024.06.27
Investment Co.,
Taiwan Institute of Sustainable economic activities and
Ltd. 2024.08.28 3
Directors biodiversity, TNFD analysis
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106

2024 Annual Report

II. Corporate Governance

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

Date of
Title Name Date Organization Credit Course
Inauguration
Taipei Foundation
2024.11.18 3 Sustainable Finance
of Finance
Director Lee, Shu-Fen 2024.06.27
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
3.0
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
3.0
Director Juang, Jing-Yau 2024.06.27
Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
3.0
Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
Independent
Pai, Chun-Nan 2024.06.27
Director
The Chinese
National
How can enterprises make good use of the
Association of
2024.03.27 3 latest AI application trends to carry out
Industry and
innovation and transformation?
Commerce, Taiwan
(CNAIC)
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
Independent Song, Yung- 3.0
2024.06.27
Director Fong
Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
Independent Horng, Yuan- 3.0
2024.06.27
Director Chuan
Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
Taiwan Project
2024.11.21 Management 3 Board of Directors vs Management Team
Association
Taipei Foundation
2024.11.18 3 Sustainable Finance
of Finance
Independent
Yang, Hui-Chu 2024.06.27
Director
Board legal compliance and compliance
Taiwan Institute of
2024.11.06 3 response under Corporate Governance
Directors
3.0
Taiwan Institute of Sustainable economic activities and
2024.08.28 3
Directors biodiversity, TNFD analysis
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107

President Securities Corporation

XI. Manager Learning

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Title Name Date Organization Credit Course
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Lin,
Chairman
Kuan-Chen
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Yang,
President
Kai-Chih
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Vice Huang, response under Corporate Governance 3.0
President Jun-Jen
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Pu,
President Chien-Heng
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Yeh,
President Ming-Chieh
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Lin,
President Chun-Kuan
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Supervisor response under Corporate Governance 3.0
Lin,
Vice
Li-Lin
President Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Wei,
President Chih-Hsu
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Sales Vice Chueh, response under Corporate Governance 3.0
President Chih-Chung
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
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108

2024 Annual Report

II. Corporate Governance

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Title Name Date Organization Credit Course
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Vice response under Corporate Governance 3.0
An, Chi-Li
President
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Yu,
President Hung-Chieh
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Chief Hsu,
Auditor Wen-Ling
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice Chen,
President Nai-Chen
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Vice
Lin, Jung-Hui
President
Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
Senior 2024.11.06 Taiwan Institute of Directors 3
response under Corporate Governance 3.0
Assistant Wu,
Vice Sheng-Yu
President 2024.08.28 Taiwan Institute of Directors 3 Sustainable economic activities and biodiversity,
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Assistant response under Corporate Governance 3.0
Chang,
Vice
Ping-Chuan
President Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
Board legal compliance and compliance
2024.11.06 Taiwan Institute of Directors 3
Assistant response under Corporate Governance 3.0
Sue,
Vice
Yung-Hsin
President Sustainable economic activities and biodiversity,
2024.08.28 Taiwan Institute of Directors 3
TNFD analysis
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109

President Securities Corporation

III. Capital Structure

III . Capital Structure

I. Shareholders’ equity

A. Source of Capital

Types of shares issued in the most recent year prior to the publication date of this annual report

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Authorized Share Capital Capital Stock Remark
Month/ Issue Price
Year (Per Share) 1,000 Amount (NT$ 1,000 Amount (NT$ Sources of Capital Increase
by Assets Other Other
shares thousands) shares thousands) Capital
than Cash
Apr- Treasury Stock
10 1,500,000 15,000,000 1,185,706 11,857,062 None Note 1
2009 Retired
Aug- Capitalization
10 1,500,000 15,000,000 1,231,933 12,319,334 None Note 2
2010 of Earnings
Aug- Capitalization
10 1,500,000 15,000,000 1,304,646 13,046,456 None Note 3
2011 of Earnings
Dec- Treasury Stock
10 1,500,000 15,000,000 1,284,582 12,845,816 None Note 4
2011 Retired
Aug- Capitalization
10 1,500,000 15,000,000 1,323,119 13,231,191 None Note 5
2012 of Earnings
Mar- Treasury Stock
10 1,500,000 15,000,000 1,303,796 13,037,961 None Note 6
2016 Retired
May- Treasury Stock
10 1,500,000 15,000,000 1,295,248 12,952,481 None Note 7
2016 Retired
July- Capitalization
10 1,500,000 15,000,000 1,335,666 13,356,657 None Note 8
2016 of Earnings
Aug- Capitalization
10 1,500,000 15,000,000 1,390,428 13,904,280 None Note 9
2017 of Earnings
May- Treasury Stock
10 1,500,000 15,000,000 1,372,390 13,723,900 None Note 10
2019 Retired
Aug- Capitalization
10 1,500,000 15,000,000 1,399,838 13,998,378 None Note 11
2020 of Earnings
Sep- Capitalization
10 1,500,000 15,000,000 1,455,831 14,558,313 None Note 12
2021 of Earnings
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Note 1: Approved by the Financial Supervisory Commission Jin Kuan Cheng3 Tzu No.0980003793 on January 23, 2009.
Note 2: Approved by the Financial Supervisory Commission Jin Kuan Cheng1 Tzu No.0990037293 on July 19, 2010.
Note 3: Approved by the Financial Supervisory Commission Jin Kuan Cheng1 Tzu No.1000033006 on July 15, 2011.
Note 4: Approved by the Financial Supervisory Commission Jin Kuan Cheng1 Tzu No.0970064519 on November 24, 2008 and approved by the Financial Supervisory Commission Jin Kuan Cheng1 Tzu No.1010002095 on January 18, 2012 for the capital change.
Note 5: Approved by the Financial Supervisory Commission Jin Kuan Cheng1 Tzu No.1010030875 on July 12, 2012.
Note 6: Approved by the Financial Supervisory Commission Jin Kuan Cheng Jiao Tzu No.1040048944 on November 23, 2015.
Note 7: Approved by the Financial Supervisory Commission Jin Kuan Cheng Jiao Tzu No.1050010487 on March 31, 2016.
Note 8: Effective after reporting to the Financial Supervisory Commission on July 5, 2016 and approved by Ministry of Economic Affairs Jin So Sun Tzu No.10501197070 on August 10, 2016.
Note 9: Effective after reporting to the Financial Supervisory Commission on July 3, 2017 and approved by Ministry of Economic Affairs Jin So Sun Tzu No.10601121960 on August 28, 2017.
Note 10: Approved by the Financial Supervisory Commission Jin Kuan Cheng Jiao Tzu No.1080305980 on March 5, 2019.
Note 11: Effective after reporting to the Financial Supervisory Commission on June 29, 2020 and approved by Ministry of Economic Affairs Jin So Sun Tzu No.10901155560 on August 24, 2020.
Note 12: Effective after reporting to the Financial Supervisory Commission on July 26, 2021 and approved by Ministry of Economic Affairs Jin So Sun Tzu No.11001166540 on September 17, 2021.
Note 13: As of March 31,2025, there are no cases where the shares are issued below the par value, and nothing other than cash is used as payments and private placement.

110

2024 Annual Report

III. Capital Structure

1. Type of Stock

Unit: Share

Type of Stock		Authorized Share Capital	Authorized Share Capital	Authorized Share Capital	Remark
		Issued Shares (Note)	Unissued Shares	Total
Common Stock	1,455,831,343 44,168,657 1,500,000,000 Listed on TWSE

Shelf Registration: None.

B. Major Shareholders

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As of March 31, 2025
Shareholding Shareholders Number of Shares Ownership (%)
Uni-President Enterprises Corp. 417,516,621 28.678
President Securities Corporation - Trust Account 45,547,502 3.128
Kai Nan Investment Co., Ltd. 42,253,212 2.902
President Chain Store Corp. 40,545,111 2.785
Tainan Spinning Co., Ltd. 34,096,102 2.342
Kao Chyuan Investment Co., Ltd. 32,988,828 2.265
Eternal Materials Co., Ltd. 22,137,767 1.520
Dr. C. Y. Kao’s Non-Profit Foundation of Culture &
18,975,361 1.303
Education (In Memory of His Mother)
Canking Investment Co., Ltd. 17,947,517 1.232
Hsin Yung Hsing Investment Co., Ltd. 15,711,845 1.079
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Note: The shareholding ratio was calculated based on the 1,455,831,343 shares of the share capital of President Securities Corporation.

C. Dividend Policy and Implementation Status

1. Dividend Policy

We take a policy of dividend payment to maintain sound long-term financial structure and stabilize continual growth to maximize benefits to shareholders, in the following manners:

(1) With regard to the surplus for the year (net of taxes payable and losses from previous years), after portions have been set aside in surplus reserves in accordance with the law and set aside or transferred to the special reserve in accordance with regulations, the balance and undistributed earnings (beginning of the year) may not be distributed if they do not make up at least five percent of paid-in capital.
(2) The total amount of dividend shall not be below 70% of the allocable profit as per the preceding paragraph.
(3) Out of the dividend which can be allocated according to the preceding paragraph, stock dividend shall not be below 50% and cash dividend shall not exceed 50%.
(4) Taking the operation situation of the year and the fiscal plan of next year into consideration, the company may decide the best stock and cash dividend on its discretion.

2. Proposed Distribution of Dividend

The Board adopted a proposal for 2024 profit distribution at its Meeting on February 26, 2025, and the proposal to distribute 2024 profits is a cash dividend of NT$1.1 per share and stock dividend of NT$1 per share.

D. Impacts of Stock Dividends on Operation Results and EPS: Not Applicable.

111

President Securities Corporation

E. Compensation of Employees, Directors and Supervisors

1. Information Relating to Compensation of Employees, Directors and Supervisors in the Articles of Incorporation

The Board of Directors passed a motion on January 27, 2016 amending the Company’s Articles of Incorporation, which stated the company will distribute compensation to employees and the Directors from pre-tax profits. Where the company has pre-tax profits, the total value of funds to be distributed among employees shall not be less than 1.6% of pre-tax profits; while the total value of funds to be distributed among the Directors shall not be more than 2% of pre-tax profits. If the company has losses carried forward, compensation should only be paid to employees and Directors after funds have been set aside as reserve for such losses. This amendment was approved in the 2016 shareholders’ meeting.

2. Estimate Foundation of Employee Compensation and Directors’ Remuneration

The Company’s profit in 2024 was based on the income before taxes after deducting the bonuses to the employees and Directors; it was estimated that the bonuses for the employees and Directors accounted for 2% of the income before taxes, respectively. If there were differences between the actual amount and the estimated figures, the profit and loss of 2025 would be adjusted accordingly.

3. Profit Distribution of Year 2024 Approved in Board of Directors Meeting for Compensation of Employees and Directors

(1) The amount of bonuses to the employees, Directors, and Supervisors in the forms of cash or shares. If differences are found in the estimated expenses of the year, the differences, cause, and handling of the differences shall be disclosed.

On February 26, 2025, the Board of Directors passed the proposed allocation of 2% employees’ compensation and 2% remuneration for directors and supervisor in 2024 as follows:

Total employees’ compensation of NT$100,003,933 and total directors’ remuneration of

NT$100,003,933.There was no difference between the estimates and the actual distributions

approved at the Board Meeting for Employee bonus and Director/Supervisor compensation.

(2) Ratio of employee bonuses in shares on net profit and total employee bonuses for the period: There were no employee bonuses in shares for the current period.

4. Information of 2023 Distribution of Compensation of Employees, Directors and Supervisors

On March 4, 2024, the Board of Directors passed the proposed allocation of employees’ compensation and remuneration for directors and supervisor in 2023 as follows: Employees and directors bonus appropriation ratio was 2%, respectively, and distributed in cash.

Employees’ compensation amounted to NT$62,369,953 while remuneration for directors and supervisors amounted to NT$62,369,953. There was no difference between the estimates and the actual distributions approved at the Board Meeting.

F. Buyback of Treasury Stock: None.

II. Long-Term Borrowings: None.
A. Unpaid corporate bonds: None.
B. Corporate bonds due within one year: None.

III. Issuance of Preferred Stocks: None.

IV. Issuance of Global Depositary Receipts: None.
V. Issuance of Employee’s Stock Options: None.
VI. Merge and Acquisition: None.
VII. Working Capital Plans: Any incomplete share issuance or private placement or any completed share issuance or private placement over the past three years from which benefits have not yet been reported as of March 31, 2025: None.

112

2024 Annual Report

IV. Business Environment

I. Description of Business Activities

A. Business Scope

1. Main areas of Business Operations

Underwriting business
Proprietary trading of listed securities
Brokerage for listed securities
Proprietary trading of listed securities through retail locations
Brokerage for listed securities through retail locations
Self-directed trading of foreign securities
Consignment trading of foreign securities
Securities margin purchase and short sale
Money borrowing or lending in connection with securities business
Securities borrowing and lending
Non-restricted purpose loan business
Shareholder services coordination
Support for futures trading through equity-related business
Concurrent operation of futures proprietary trading
Wealth Management business
Trust business
Financial derivatives products approved by the SFC
Offshore Securities business
Other relevant operations approved by the competent authority

2. Breakdown of Revenues for Latest Three Years

Unit: NT$ thousands

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2022 2023 2024
Item
Operating Operating Operating
% % %
Revenue Revenue Revenue
Brokerage 3,709,607 70.34 4,200,038 48.40 5,916,550 49.20
Proprietary Trading 1,388,875 26.33 4,026,257 46.39 5,714,968 47.53
Underwriting 175,609 3.33 452,422 5.21 393,020 3.27
Total 5,274,091 100.00 8,678,717 100.00 12,024,538 100.00
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113

President Securities Corporation

3. Products and Services

We offer a comprehensive range of financial services-brokerage, underwriting, proprietary trading, fixed income dealing, financial product development, wealth management, and shareholder services. The following is a brief description of our primary business units.

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Business Area Products and Services Description
1. Accept orders from clients to buy/sell 1. The market share of brokerage business was 2.57% in 2024,
listed securities and forward to TWSE for ranked 10th among the domestic local securities firms.
execution. 2. The Company has 31 branches in total. The market share in a
2. Accept orders from clients to buy/sell single location is 0.1% and ranked 6th among the top ten domestic
listed securities and forward to TPEx for local securities firms, indicating that the Company’s operational
execution. efficiency was better than other firms.
3. Manage custodial services for clients. 3. The Company has been active in promoting electronic trading,
4. Provide margin financing for securities where proportion of transactions through electronic trading in the
trading. entire Company was 69.15% in 2020, 78.44% in 2021, 79.37%
in 2022, 77.72% in 2023 and 78.08% in 2024. Since 2021, the
Brokerage 5. Securities Borrowing and Lending Business.
proportion of transactions conducted through electronic trading at
6. Non-restricted purpose loan business President Securities has consistently exceeded 75%.
7. Consignment trading of foreign securities. 4. The trading system has integrated the trading functions of all
8. Futures Introducing Broker Business. products, and customers can use the same electronic trading
platform for trading securities, futures, options, OTC stocks, sub-
9. Wealth management business.
brokerage, fund, and overseas futures products.
5. By offering a more all-inclusive market monitoring and order entry
environment, we can provide services to a larger client base.
6. We integrate our sales of all types of products available in the
market and thereby offer more value to our existing clients.
1. Trading of publicly listed securities on the Over the past 10 years, our proprietary trading department has
TWSE and TPEx, using President Securities’ been among the top every year. Regardless of the market trend, our
own funds. proprietary trading department is able to accurately read the market
Proprietary 2. Futures and options markets. and adjust its strategy accordingly and pick out the key trends and
sectors. And, they are able to match this with effective futures
Trading 3. Legally-permitted foreign marketable
hedging, risk management, and a diverse range of product trading
securities trading.
strategies, resulting in big gains, and small losses. This has allowed
us to retain a core proprietary trading team with considerable
experience, which has become the envy of the industry.
1. Use own capital to trade domestic and The Fixed Income Department mainly focuses on fixed income
foreign corporate and government bonds in proprietary trading business, sales, and DCM business, supplemented
the OTC market. with the issuance of structured products. The proprietary trading
2. Offer tendering services of Taiwan business is mainly based on foreign currency-denominated notes,
government bonds. supplemented by New Taiwan dollar-denominated notes. The
main products are US dollar-denominated and euro-denominated
3. Repo and Reverse-Repo transactions.
notes. The fixed income sales, underwriting, issuance of structured
Fixed Income 4. Trade overseas and domestic convertible products and Bond Exchange-Traded Notes are being developed
Business bonds. continuously. To expand fee businesses via proprietary trading
5. Provide debt capital market services for business support.
overseas and domestic issuers.
6. To trade government and corporate bonds
with customers.
7. Interest rate structured products trading,
design and sales.
8. Designed Bond Exchange-Traded Notes
1. Futures Proprietary Trading Division: 1. Operating Performance: In 2024, profitability of our futures
Market making and trading of legally- proprietary trading division was among the top in the industry.
permitted foreign futures and options 2. New Products/Services in Development: As regulators continue to
Quantitative contracts. liberalize the industry and allow new financial products, we stand
Trading
2. Strategic Trading Division: ETF arbitrage, ready to add these new products to our trading and, in turn, to add
market making, structured products issuing to our revenue streams.
and trading.
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114

2024 Annual Report

IV. Business Environment

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Business Area Products and Services Description
1. Issue domestic and foreign equity warrants In 2024, our Financial Products Division was primarily engaged in
and conduct hedging strategies. issuing new warrants, structured note products, and other derivative
2. Launch structured products and conduct products authorized by the Taiwan’s regulators.
hedging strategies. 1. Market Position
3. Trading of equity derivatives. (1) Equity Warrants: A total of 5,364 warrants were issued in 2024,
for a total dollar value of NT$24,029,215 thousand, ranked 7th
4. Issuance and hedging of Exchange Traded
Notes (ETN) for index investments. in the market. The market share of the firm was approximately
5.49%. The net buy and sell of premium ranked 2nd in the entire
5. Futures & spot strategy trading
market, accounting for approximately 15.40% of the market. It
6. Stock promotion business. was clear that the efficiency of the net sell was high (while the
7. Proprietary trading and strategy trading for issue amount only accounted for 5.49% of market share, the
convertible bonds. proportion of net sell was 15.40%).
8. Proprietary trading for futures and options in (2) Structured note products: For the year of 2024, the Company
Taiwan and other countries. undertook contracts amounting to a principal of NT$76,307,902
9. Design and planning of new financial thousand and was ranked 2nd in the market.
products and services. (3) In 2024, the total brokerage transaction volume reached
NT$32,802,700 thousand, ranking 2nd in the market. At the
10.Other derivatives financial products
end of the year, the outstanding amount was NT$2,667,821
approved by the competent authority.
thousand, ranking 2nd in the market.
Financial (4) Exchange-Traded Notes (ETNs): ETNs are new products that
Products were launched with permission of the competent authority in
2019. As of December 2024, a total of 30 ETNs were outstanded
in the entire market.The Company also issued ten diverse ETNs,
accounting for approximately 33.33% of the market.
2. New Products/Services in Development
In addition to actively promoting the existing call/put warrant
business, structured product business, equity options products,
ETN and market-making for low-volume stocks, and so on,
we offered new product, FCN, for our customers this year. The
Company will maintain an excellent quality in market making,
provide better services to investors, and look forward to building
consumer trust in the brand so as to elevate the status of President
Securities’ warrants and derivatives in the market.
By carefully selecting stock targets, a basket of targets were
combined into an ETN to provide investors with a good choice
of asset allocation. President Securities plans to develop detailed
media-based self-teaching lessons, to make it easier for novice
investors to understand the ETN business, so as to continue to
differentiate itself from competitors in the sector and to expand its
market share of new products.
1. Assist corporations in application for public 1. Market Position: In 2024, PSC had 54 lead and co-lead
listing on TWSE or TPEx. underwriting deals, for a total dollar value of NT$4.880 billion.
2. Assess and advise clients with respect to 2. New Products/Services in Development: Our goal is to provide
capital increase plans. professional corporate financial services, to simultaneously act
3. Underwrite domestic and foreign bonds and as both an effective market maker and also as a top-notch service
issue global or Taiwan depositary receipts. provider, all with the aim of increasing the company’s overall
Underwriting added value. Going forward we will continue to focus our energy
4. Assist in M&A activities.
(Capital on landing mid- and large-sized deals, and will continue to bolster
Market) 5. Assess and advise clients with respect to our presence within the Greater China Region, so as to become a
applications to convert private equity into more competitive securities firm.
publicly traded stocks, treasury stocks,
capital increase plans and employee’s stock
options.
6. Other businesses relate to underwriting and
consulting.
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115

President Securities Corporation

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Business Area Products and Services Description
1. Coordinate shareholder services on behalf of 1. The scale of the Company’s agency
publicly listed companies. (1) The number of serviced companies in 2024 was 186, where 89
2. Assist in the coordination of shareholders’ were listed companies, amounted to 47.85%.
meetings. (2) The number of shareholders of listed companies represented by
3. Coordinate the distribution of cash and/or the agent is relatively large. The average number of shareholders
stock dividends to shareholders. we serviced in 2024 was 2.70 million.
4. Manage the issuance and delivery of tax 2. Operating Performance
Shareholder
Services forms to shareholders. (1) The number of serviced companies in 2024 had a 3.33% growth
5. Respond to shareholder enquiries and legal compared to the number of service companies in 2023.
issues. (2) The number of shareholders’ agents in 2024 had a 10.17%
growth comparable to that in 2023, thus allowing us to
continuously achieve a high economy of scale and efficient
operations.
3. Long-term Objectives: Actively expand the number of serviced
companies to increase revenues.
1. Provide customers with the most complete 1. Market Position: At the end of 2024, the number of customers in
asset arrangement and finance service the wealth management trust account reached 47,140; the client
planning service. trust assets reached NT$15.276 billion, including NT$15.254
2. Provide a variety of trading services and billion for non-discretionary money trust assets and NT$22 million
products for wealth management, including for marketable securities trust assets. Total asset size and non-
domestic and overseas funds, foreign discretionary money trust assets size ranked 8th and 4th among
Wealth bonds, structured products, and bonds with securities firms, respectively.
Management repurchasing agreements. 2. Long-term Objectives: Relentlessly develop a wide range of
& Trust 3. Conduct asset allocation for customers wealth management products, enhance the advocacy of featured
through trusts. brokerage products, expand customer base, provide convenient
trading platforms, meet customer cash flow and financing needs,
4. Negotiable securities trust lending business.
and offer a broader range of high-quality services.
5. Employee Stock Ownership Trust business.
6. Engage in the wealth management business
for high asset clients.
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4. New Products/Services in Development

The Company will continue to promote digitalization and adopt information technology to transform internal processes, strengthen digital management capabilities, as well as increase business momentum and decision-making efficiency. Furthermore, in the area of financial products, we have introduced Fixed Coupon Note (FCN) structured products this year, offering clients a variety of options for asset allocation. Additionally, discussions with regulatory authorities regarding listed structured products are ongoing. These products will be issued once the relevant regulations and supporting measures are in place.

B. Industry Overview

1. Overall Economic Environment

Over the past year, driven by the growing application of AI technology, the recovery of global trade, and the FED's pause on interest rate hikes, the global economy has experienced moderate growth. However, geopolitical risks, including the Russia-Ukraine war and conflicts in the Middle East, have led to volatility in the stock markets of major countries. In the United States, Stable employment is supporting the economy's fundamentals. Although inflation has eased, it has not yet reached the FED's target, leading to delays in interest rate cuts and putting pressure on the bond market. Fortunately, the continued growth of AI applications has helped boost the U.S. stock market. In Europe, conflicts such as the Russia-Ukraine war continue to affect investment confidence. Although the European Central Bank has implemented multiple interest rate cuts, countries like Germany remain mired in economic recession. In China, the central government released favorable policies in late September to address issues related to the housing market and local debts, but the effectiveness of these measures remains to be observed.

According to statistics released by the Directorate-General of Budget, Accounting and Statistics of the Executive Yuan at the end of February, Taiwan's domestic economic growth rate in 2024 was 4.59%. This growth was primarily driven by a strong demand for emerging technologies that stimulated corporate investment, along with an increase in construction projects such as urban renewal, resulting

116

2024 Annual Report

IV. Business Environment

in a 12.45% growth in capital formation compared to the previous year. In terms of the domestic stock market, the Taiwan Stock Exchange benefited from emerging applications such as artificial intelligence (AI) and high-performance computing, leading to an upward trend in stock prices. The weighted Taiwan Stock Index rose from 17,930 points to 23,035 points, exhibiting an increase of 28.47%. The average daily trading volume for listed and over-the-counter stocks also expanded from NT$359 billion to NT$524.7 billion, marking a growth of 46.14%, indicating a simultaneous rise in both price and volume.

Looking ahead to the year 2025, with the inauguration of the new U.S. President Donald Trump, there have been successive reforms in policies regarding tariffs, immigration, and technology regulation, leading to an increase in global economic uncertainty. In the United States, it is anticipated that AI application and the service sector will drive economic growth; however, persistent inflation will likely cause the Federal Reserve (Fed) to slow down its interest rate cuts. In China, under the support of loose fiscal and monetary policies, economic growth is gradually improving. Nevertheless, following Trump's inauguration, the tensions between the U.S. and China may intensify, introducing uncertainties into the Chinese economy. In Europe, the manufacturing sector continues to be sluggish due to stagnant demand and intensified competition, compounded by Trump's tariff policies, which pose ongoing downside risks to the European economy. The International Monetary Fund (IMF) projected in January that, given the gradual differentiation of economic conditions across countries and the rising uncertainty, the global economic growth rate for 2025 is expected to be approximately 3.3%, slightly above the 3.2% forecast for 2024, but still below the historical average. In Taiwan, stable employment is conducive to private consumption, and continued corporate investment and construction projects are supporting domestic demand. In terms of trade, the U.S. has proposed tiered regulatory measures for products such as AI chips, which may impact Taiwan's chip exports. Additionally, given that the base period for last year's overall output was already high, and with increased uncertainty in the international economy this year, the Directorate-General of Budget, Accounting and Statistics of the Executive Yuan estimates that Taiwan's economic growth rate will decline from 4.59% in 2024 to 3.14% in 2025.

2. Current Status and Future Development

(1) Primary Market

Unit: NT$ 100 Million

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Corporate Bond
Over-The-Counter
Listed Company Government Bond
Year (OTC) Company Ordinary Corporate Convertible Bond
Bond
Total
Number Capital Number Capital Number Net total Number Net total Number Net total
2003 669 47,252.8 423 6,394.7 80 25,870.7 2,666 7,998.5 235 1,218.1 9,216.6
2004 697 50,580.8 466 6,261.0 86 28,506.7 2,882 8,993.8 349 1,522.1 10,515.9
2005 691 54,159.6 503 6,431.8 88 31,417.2 2,784 9,355.2 322 1,549.0 10,904.2
2006 688 55,226.7 531 7,262.0 90 33,823.2 2,397 9,710.2 292 1,830.1 11,540.3
2007 698 56,016.2 547 7,148.1 88 35,184.7 1,744 8,773.4 276 2,108.0 10,881.4
2008 718 57,354.4 539 7,030.7 91 37,351.7 1,142 9,476.1 269 1,857.7 11,333.8
2009 741 58,695.9 546 7,727.3 93 39,708.5 783 9,413.9 208 1,405.2 10,819.1
2010 758 59,279.5 564 7,059.9 94 43,341.5 512 10,002.1 246 1,373.7 11,375.8
2011 790 61,523.8 607 7,319.2 97 46,441.5 425 11,242.6 299 1,660.3 12,902.9
2012 809 63,849.5 638 6,674.5 100 49,343.0 433 13,641.2 314 1,594.5 15,235.7
2013 838 66,100.3 658 6,618.5 103 52,209.5 468 15,776.1 294 1,542.4 17,318.5
2014 854 67,834.0 685 6,795.6 108 54,401.7 519 17,197.8 277 1,507.7 18,705.5
2015 874 69,509.0 712 7,061.9 113 55,693.7 500 17,081.5 297 1,554.1 18,635.6
2016 892 70,217.0 732 7,152.6 116 56,053.3 500 16,776.4 270 1,483.1 18,259.5
2017 907 71,361.9 744 7,223.6 119 56,363.3 512 17,436.6 193 1,172.6 18,609.1
2018 928 71,588.9 766 7,385.0 124 56,024.7 535 18,120.0 157 1,173.5 19,293.4
2019 942 71,556.4 775 7,466.6 129 55,509.6 569 19,012.0 166 1,186.1 20,198.1
2020 948 72,383.6 782 7422.4 137 56,244.6 681 23,505.6 193 1,338.2 24,843.8
2021 959 73,852.9 788 7,608.6 156 58,393.6 788 27,169.6 237 1,488.3 28,657.9
2022 971 74,999.0 808 7,420.3 158 59,501.6 841 28,265.9 259 1,828.7 30,094.6
2023 997 76,388.0 816 7,579.1 163 60,601.1 922 32,398.0 268 2,088.1 34,486.1
2024 1,031 78,209.4 838 7,954.5 177 61,743.1 967 34,654.4 302 2,499.9 37,154.3
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Reference: Securities and Futures Bureau, FSC

117

President Securities Corporation

(2) Overview of total market value of the securities market in the past three years

Unit: NT$ billions

Item	2022	2023
Taiwan Stock Exchange
Stocks 56,080.6 63,170.2 92,289.0 ETF 2,938.1 3,454.3 6,724.4 ETN 4.1 4.1 3.3 Beneficiary Securities 9.4 36.6 5.3 Equity Warrants 531.2 531.6 712.9 TDR 10.4 9.3 76.9 Subtotal 59,573.8 67,206.2 99,811.8
Taipei Exchange
Stocks 14,878.7 16,847.4 23,252.4 Equity Warrants 133.7 171.8 189.4 ETF 228.2 1,237.0 3,279.2 ETN 1.9 1.0 0.7 Bonds 29,956.6 29,461.3 31,495.9 Subtotal 45,199.0 47,718.6 58,217.6
Total	104,772.8	114,924.8 158,029.4
TAIEX	14,137.69	17,930.81 23,035.10

Reference: Securities and Futures Bureau, FSC

3. Relationship with Up-, Middle- and Downstream Companies

The securities market is a part of the financial market as a direct transaction channel between fund seekers and fund providers; industrial and commercial enterprises usually raise funds through the issuance of marketable securities, and investing in marketable securities has become an important way for people to manage their savings and personal wealth. The mission of the securities market is to pool savings and turn them into investment, and thus facilitate economic growth.

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Upstream Midstream Downstream
Funds Suppliers Funds Mediator Funds Funds Demanders
Listed Companies
Individual Investors Financial
Securities Firms
Institutional Investors Institutions
Securities Securities Government
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3. Product Trends and Relevant Competition

 Proprietary Trading

(1) Equities Markets

In 2024, the Taiwan stock market exhibited remarkable performance, with the weighted index reaching a historical high of 24,416 points. The daily trading volume in the market also expanded to NT$412.4 billion, reflecting a year-on-year increase of 46.6%. The Taiwan stock market rose by 5,104 points, or 28.5%. The rapid development of AI technology, the Federal Reserve's initiation of a rate-cutting cycle, and the continued strength of the U.S. economy have become the three main pillars driving the upward trend of the stock market.

In 2024, major global indices exhibited impressive performance. The Dow Jones Industrial Average increased by 12.9%, the S&P 500 by 23.3%, NASDAQ by 28.6%, and the Philadelphia Semiconductor Index (SOX) by 19.3%. The DAX saw an increase of 18.9%, while indices in Asia rose nearly universally, with the Japanese stock market up by 19.2%. Even the SSE Composite Index in China experienced a 12.7% increase due to a series of favorable fiscal policies. The only exception was the South Korean stock market, which declined by 9.6% amid political turmoil.

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IV. Business Environment

The AI boom continued to accelerate in 2024, with NVIDIA experiencing remarkable demand for its chips, underscoring Taiwan's essential role in the global AI supply chain. Numerous Taiwanese AI concept stocks also surged, extending the bull market trend of 2023. Investors actively sought dividend funds, with net subscriptions for domestic equity ETFs nearing NT$420 billion in the first half of the year. In May and June, NVIDIA's CEO, Jensen Huang, visited Taiwan and delivered a keynote speech at Computex, reigniting the AI frenzy and propelling the Taiwan stock index to new highs.

In July, initial claims for unemployment benefits in the United States experienced the largest increase since May, raising concerns in the market about a potential economic recession under the Sahm rule due to a weakening labor market. The Taiwan stock market is undergoing corrections following a surge in market capitalization. Subsequently, U.S. officials indicated that the unemployment figures for July may be distorted due to the impact of hurricanes. The U.S. Services PMI released in August demonstrated strong demand, and closely monitoring weekly unemployment data to return to a safe range, alleviating recession concerns. In September, the U.S. Federal Reserve implemented its first interest rate cut since the measures taken in response to the COVID-19 pandemic in March 2020, initiating a new round of rate reductions. Nevertheless, the stock market remains influenced by the upcoming U.S. presidential election in November, as polls between Donald Trump and Kamala Harris remain tight, with their proposed economic policies being markedly different, leading to continued market volatility.

Following the conclusion of the election, Donald Trump returned to the White House and the Republican Party achieved a sweeping victory in Congress. Trump's declaration to "Make America Great Again" has led to an increase in the U.S. dollar index and a rise in U.S. Treasury yield, putting pressure on Asian stock markets. However, the Proprietary Trading Department staff have continued to conduct research and monitor new trends in international industries. By analyzing economic data and carefully interpreting Central Bank monetary policies, they are ultimately able to accurately identify investment opportunities. This is complemented by effective capital position management and collaborative teamwork, which together contribute to profit generation and the maintenance of the industry's leading position.

Benefiting from emerging business opportunities in AI technology and high-performance computing, the Taiwan stock market concluded 2024 on a positive note. However, as we confront the uncertainties introduced by Trump 2.0 policies in 2025, the implications of tariff policy changes on Taiwan's exportoriented enterprises and the global economy present new challenges for investment. The Proprietary Trading Department will continue to strengthen its research on the global macroeconomy and dynamically adjust both domestic and international positions and strategies as our primary operational principles. We will capitalize on every profit opportunity, diversify our investments, and expand departmental profit sources to sustain our consistent competitive advantage.

(2) Risk Management

In addition to using VaR figures provided by the proprietary trading department’s risk control office, stop losses and limit alerts are set for the stocks that each trader trades. Each trader is given trading limits and trading performances are updated in real time and, when necessary, trading authorizations can be immediately revoked. The effect of all of these measures is to ensure maximum protections for our shareholders.

(3) Hedging Operations

Futures and options are our primary hedging tools. Inverse ETF and individual stock futures were used as hedging. Going forward, we will continue to use these financial products to adequately hedge our proprietary trading department’s exposure.

(4) Technology Research and Development (R&D)

We built an Info-hub to strengthen the integration of different types of information and data, thereby improving the quality of decision-making.

 Fixed Income Dealing

(1) Outright Purchases and Sales of Government Bonds

Due to an overheated housing market in Taiwan, the Central Bank currently has no plans to lower interest rates. However, inflation has gradually returned to below the Central Bank's warning threshold, and the economy has passed its peak. After more than three years of a bear market in bonds, most traders hold low levels of Taiwanese bonds in their portfolios. At this stage, the overseas tariff war is not as intense as initially anticipated; therefore, a gradual increase in demand for Taiwanese bond allocations among traders is expected. During the tariff war, U.S. bonds are expected to experience more oscillations within a range, whereas Taiwanese bonds will primarily be managed with a strategy of buying on highs within this range. Considering the poor liquidity of Taiwanese bonds in recent years, there will also be moderate profit-taking as interest rates decline.

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(2) Convertible Bonds, Futures and Options

For convertible bonds, two strategies will be carried out. The first is to invest in bonds with large issuance size and limited downside risk, because better liquidity, capital structure, and limited risk are good for long term strategy to capture the trend. The second is to invest in notes with rally potential for short term trading. Because of high volatility, traders will control total positions for risk managing. The proportion is generally low so as to keep the level of risk under control. In recent years, due to an increase in market activity, the degree of activity in the convertible bond market has gradually increased. With an increase in the number of bonds issued by various industries, conditions are also more conducive to dispersing the allocation of positions to reduce the risk of concentration of individual targeted industries.

(3) Foreign Bonds

Currently, the overall economy of the United States remains robust, and the pace of interest rate cuts by the Federal Reserve has begun to slow. The uncertainty surrounding President Trump’s trade policies has raised concerns about inflation, compounded by the continuous surge in the total debt of the United States. Bond yields are currently oscillating near high levels without a significant bullish trend. However, following multiple interest rate cuts by the Federal Reserve, financing costs for bonds have decreased considerably, beginning to favor the holding of bond positions. Therefore, the overall outlook for foreign bond markets is not pessimistic. In addition to maintaining position flexibility and exercising caution in range trading, there is also an increased emphasis on operations for non-U.S. bonds and floating-rate bonds, diversifying bond allocations to mitigate risks associated with any single market.

 Financial Products Business

(1) Equity Warrants

In 2024, there was a steady growth in Taiwan’s equity warrant market, with all securities firms issuing warrant products in response to market demand. A total of 74,809 equity warrants were issued in 2024, for a total dollar value of NT$546.372 billion.

The total dollar value of all equity warrants issued by the company in 2024 was NT$24.029 billion and the market share was 4.40%, ranked 7th in the market. Issue focuses mainly on the selection of stock performance with good Return on Equity (ROE) to create a win-win situation with investors and stable profits through different derivatives, futures, and options, etc., with hope to effectively lower hedging costs.

(2) Structured Note Products

The amount of contracts oustanding by the end of 2024 was NT$68.084 billion, the Company’s amount of contracts outstanding by the end of 2024 was NT$14.968 billion and the market share was 14.64%. For a trading volumn of NT$458.591 billion. The Company undertook contracts amounting to a principal of NT$76.307 billion, the market share was 16.64% and was ranked 2nd in the market.

(3) Equity options

This business was launched by the Company in April 2020 for customers. The business is mainly for issuance of over-the-counter (OTC) equity options in the form of long-term options. Call or put options can be issued according to customers’ needs. At the end of 2024, the total contract balance outstanding in the market was NT$8.933 billion. The Company’s outstanding balance was NT$2.667 billion, with a market share of about 29.86%, ranking 2nd in the market. The cumulative total market turnover in 2024 was NT$99.80 billion, and the Company’s contract principal reached NT$32.803 billion, with a market share of about 32.87%, ranking 2nd in the market.

(4) Exchange Traded Note (ETNs)

ETNs provide a new product released by the responsible authorities in 2019. As of December 2024, a total of 30 ETNs had been issued on the market, and the Company has also launched 10 main ENT. In addition to the cash dividends, low volatility, and dividend yield indicators as the basis for initial selection, the Company subsequently issued 5G, MSCI technology, Hang Seng tech, U.S. government bonds, Asia Semiconductor, Smart Mobility and Electric Vehicles, IC Design and other domestic and foreign index products with great potential to provide investors with diverse investment options. Through the domestic and foreign indexes in diverse fields linked to the products, the Company’s ability to build a system is evident.

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IV. Business Environment

Among them, the 10 ETNs issued by the Company are as follows:

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Stock Code Stock Name Listing Date
020011 President Low Volatility High Dividend 20 TR ETN 2019.12.03
020015 President MSCI USA Minimum Volatility NTR ETN 2020.03.27
020016 President MSCI USA IMI Information Technology NTR ETN 2020.03.27
020018 President Value Growth TR ETN 2020.07.30
020019 President Taiwan 5G TR ETN 2020.07.30
02001B President US Treasury 7-10 Years Index ETN 2020.12.29
020025 President ICE FactSet Asia Semiconductor NTR Index ETN 2021.07.22
020030 President Smart Mobility and EV TR ETN 2021.11.26
020031 President ICD TW TR ETN 2022.03.31
020033 President HSTECH Futures Index ETN 2022.10.03
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 Underwriting Business (Capital Markets)

(1) Domestic Bond and Equity Underwriting

As of the end of 2024, there were a total of 1,015 companies listed on the TWSE and a total of 838 companies listed on the Taipei Exchange Market, representing a growth of 1.80% and 2.70% respectively compared to the 997 listed companies and 816 OTC companies at the end of the 2023. The Department has actively fought for cases while maintaining risk management. The President Securities’ underwriting cases, which were listed in 2024, included SanDi Properties Co. Ltd. with NT$0.97 billion secured convertible bonds, Ultra Chip, Inc. with NT$0.8 billion unsecured convertible bonds, Jourdeness GROUP LIMITED with NT$0.7 billion unsecured convertible bonds, L&K Engineering Co. Ltd. with NT$0.5 billion unsecured convertible bonds, Yao Sheng Electronic Co., Ltd. with NT$0.5 billion unsecured convertible bonds. The Company will continue to carefully select industries and focus on company credit risks to provide public listing/OTC listing and fundraising services for companies with healthy finances or those in industries with an excellent outlook.

(2) Financial Advisory

We take great pride in providing professional corporate finance services. In recent years, our financial advisory business has also made great progress and expanded into advisory services dealing with employee stock option exercise prices, offering price for preferred stocks and stock repurchase by listed companies. We will no doubt continue to develop our financial advisory services business with a particular emphasis securities related consulting (i.e., IPOs, mergers, private placements, and other consulting services) around the Greater China Region.

(3) Offshore Underwriting

The Company is actively pursuing public listing and OTC listing operations of Taiwanese companies returning from China, Hong Kong, and Southeast Asia in accordance with market conditions.

(4) Emerging Market Exchange

There were 347 companies listed on the Emerging Stock Board in 2024, a 5.47% increase from 2023 with 329 companies listed. To capture more IPOs, the department has also been actively positioning itself with respect to emerging board targets. However, the IFRS’s launch in 2013 has changed the way emerging board stocks will be assessed, and to take risk control into account, the number of officially recommended emerging board companies is 29 at the end of 2024. This year, the division will continue to compete for quality clients while maintaining risk control, and issue recommendations for emerging stocks based on the progress of its client counseling.

 Wealth Management & Trust

The total assets under overall securities firms’ non-discretionary individual management in 2024 was NT$232.777 billion(YoY +6.2%). The total assets in securities trust management was NT$22.297 billion(YoY -1.9%). The total assets under management was NT$255.074 billion, which was a 5.5% increase of NT$13.230 billion from the NT$241.844 billion at the end of 2023. Among them, the money trust business continued to grow, while the securities trust business shows a decline due to the gradual shift of securities borrowing business to Taiwan Depository and Clearing Corporation’s platform.

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With an eye on mitigating operational risks and enhancing income stability, the Company have proactively expanded the wealth management services in recent years, prioritizing the income generated from the growth of asset base as well as transaction fees. The assets under the Company’s nondiscretionary money trusts by the end of 2024 amounted to NT$15.254 billion. The revenue increased by 19.8% from NT$12.734 billion in 2023. Similarly, the market share has increased from 5.81% to 6.55%, and ranked 4th in the market. The assets in securities trust management were NT$22 million. The total assets under management were NT$15.276 billion. This ranked the Company 8th among securities firms. The wealth management platform comprises of a trust platform and a sub-brokerage platform. Beside the products of domestic and foreign funds, overseas structured products, overseas bonds, and overseas stocks that already exited, the Company continuously listed small-value bonds that enables general investors to benefit from diversified asset allocation. The Company has launched a bond-linked note (BLN), which is linked to corporate bonds, and a fund-linked note (FLN), which is linked to funds or ETFs. These products employ leverage to enhance clients' return on assets (ROAs) while reinforcing risk management and product innovation, thereby ensuring stable growth in the volatile global financial market. Furthermore, in addition to sourcing through trading for domestic structured products, the Company is actively collaborating with internal product units. In the future, we will be able to offer internally manufactured products tailored to client needs, addressing the customized product requirements of high-asset customers.

C. Research and Development Overview

In line with the competent authority’s requirements for the professionalism of underwriting personnel, this year, based on the courses offered by the Taiwan Securities Association, on-the-job training and further training are arranged; personnel are sent to participate in the professional courses offered by the Taiwan Stock Exchange Corporation (TWSE) and Taipei Exchange on a quarterly basis for intermediaries to be equipped with the knowledge of relevant laws and professionalism as the country is increasingly open to overseas business.

 R&D for Derivative Product

1. Various Technical Expertise and R&D

We have a complete financial engineering team that brings together talented individuals from finance and statistics with access to top-notch trading and valuation software, so that they can develop innovative product and trading strategies. With cutting-edge financial engineering at the forefront, we bring together comprehensive product development and advanced trading experience in designing new products, and in providing sophisticated derivatives products and consulting services for our customers. Plus, every year, we invest heavily in modernizing our warrant software so as to make our systems faster and more stable, and so as to offer a broader range of services to our customers.

2. Our Research Analysts, Their Training, and Our R&D Costs for the Most Recent 5 years

The company has been aggressively developing new products and working diligently to secure regulatory approvals for new products. Over the past 5-year period, we have spent an average of NT$4.5 million per year on R&D efforts.

Unit: Person

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Year 2022 2023 2024 Mar. 31, 2025
Number Number Number Number
Education level % % % %
of people of people of people of people
Master&PhD 45 71.43 44 72.13 48 72.73 50 71.43
Bachelor 14 22.22 15 24.59 16 24.24 18 25.71
Others 4 6.35 2 3.28 2 3.03 2 2.86
Total 63 100.00 61 100.00 66 100.00 70 100.00
Average years of
5.72 6.89 7.26 6.98
service
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3. New products or Techniques Successfully Developed Within the Last 5 years

(1) The company has been successful in the design and pricing of many structured note products, equity swaps, credit derivative products, as well as equity-linked derivative products, bonds and interest rates, and we stand ready to issue these products whenever appropriate market timing emerges.

(2) We have successfully developed several market operating strategies, as well as arbitrage models and strategies.

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IV. Business Environment

 Strengthened the electronic trading and relevant information systems

The electronic trading market continues to grow and the company is able to raise customer service quality through an e-trading platform that is stable, convenient and diversified.

(1) President Securities 2024 Electronic Trading and Information System Relevant R&D Plan

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System R&D Capabilities
1. Meeting Minutes System.
System/ Efficiency
2. Optimization of work logs.
Optimization and
3. AP List Management System.
Improvement
4. Review Platform for accounting voucher production in trading system.
1. Load shedding for lightweight kernel of securities entrustment transaction system on
Lightweight Kernel
AS400.
Transformation
2. Develop E-Service Middle- Ware.
Enterprise data platform Based on the consultant's design, a data platform is being developed in a sequential manner to
system construction improve internal data management and enhance efficiency in data utilization.
Optimizing and Refactoring
EOS rebuild and optimize for the operating system of CRMS 2.0.
CRMS 2.0
Automation of the monthly
accumulated estimated profit Replace the current manual weekly cumulative estimated total profit-sharing report.
sharing weekly report
Enhance the master file of the fund allocation system (expand the file) and the format of
Enhance the fund allocation the "Fund Allocation Payment Application Form" to facilitate the integration of electronic
system payment for TWD and foreign currency transactions and reduce the time required for
maintaining spot foreign exchange reporting data.
The Wealth Management Center, along with the financial personnel at each branch office, has
a non-certification options KPI inquiry function (for internal network use). This function is
Non-certification options KPI
categorized into seven distinct areas: investment-type insurance policies, traditional property
inquiry system
and life insurance, foreign stocks, FCNs, domestic and foreign funds, overseas bonds, and
others.
Establishment of functions
related to the entrustment of Online ordering and billing functions.
Japanese stock
Bond/structured product
Digitization of the current manual process for sending daily account statements for bonds/
daily reconciliation statement
structured products.
digitization
1. Notification function for insufficient funds in the Taiwan stock market.
2. Individual account–fund utilization management platform and online change of withdrawal
bank account.
3. Credit account statements and notices–addition of electronic delivery method.
4. Financial middleware phase two–data expansion.
Settlement & Clearing
5. Electronic billing project–credit authorization.
Department-related
development projects 6. New electronic payment and collection system–Chinatrust (settlement and underwriting)
7. Parameterization of collateral ratios for t+5 securities lending and borrowing transactions.
8. Adjustment of online interest accrual date for unrestricted purpose loan transactions.
9. Addition of settlement payment operation audit working paper inquiry function.
10. Notification of trust sub-delegation for structured product distribution upload and account
entry.
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System R&D Capabilities
1. Establishment of the OSU offshore structured product trading system.
2. Rebate platform implementation.
3. New large-scale stock inflows and adjustments to existing transaction parameters for AML.
4. Establishment of a new credit order function module in the unified GPM sub-account
Brokerage department’s system.
relevant development projects 5. Application of change for customer credit limit.
6. SN notification electronic system.
7. Service fee credit platform.
8. SN automatic quotation inquiry system.
9. Adjustment of odd lot settlement price calculation.
Capital market department’s
CRMS Construction Departmental business interview records and statistics.
1. Optimization of customer discount bank remittance operations.
Administration department’s 2. Media contact application form.
relevant development projects 3. Recruitment management system.
4. Stakeholder platform management.
1. Dividends Information.
Digital Business department’s 2. Online account opening–multi-account opening for existing customers.
relevant development projects 3. Adjustment of customer complaint handling system.
4. New customer service system post-submission module.
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(2) 2025 R&D investment plan and progress

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Critical
Project Details of Plan and Expected Current Expected
Project Plan Success
Name Benefits Cost Outlay Progress Completion
Factors
1. Requirements List Improved overall
System/ Management System. operational and Expected to Completed
Efficiency 2. Case management system. maintenance provide services design process;
Optimization 3. Estimation management efficiency and 10 million Ongoing in fourth-quarter, business process
and strengthened system
system. 2025 planning
Improvement integration and
functionality.
Improved overall
operational and
Lightweight Lightweight Kernel maintenance Expected to Completed
Kernel Transformation - T8 convert efficiency and 20 million Ongoing provide services design process;
in fourth-quarter, business process
Transformation E8 strengthened system 2025 planning
integration and
functionality.
Improved overall
1. Enterprise data platform
operational and
system construction. Expected to Completed
maintenance
2. AI application platform provide services design process;
Data & AI construction. efficiency and 40 million Ongoing in fourth-quarter, business process
strengthened system
3. E-Operation of M365 2025 planning
integration and
Copilot.
functionality.
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Critical
Project Details of Plan and Expected Current Expected
Project Plan Success
Name Benefits Cost Outlay Progress Completion
Factors
1. Credit risk
management stock
whitelist.
2. ETF subscription
adjustments
systematization.
3. Optimization of trust
platform cash flow
– foreign currency
deposit instructions.
4. Foreign Currency
Respond to the roll
Customer Ledgers
Brokerage out of new business
5. Addition of dual Completed
department’s areas and improve Expected to
relevant currency order for service quality while 25 million Ongoing complete in fourth- design process;
business process
development sub-delegation. optimizing processes quarter, 2025
planning
projects 6. Optimization and intergrading
systems.
and replacement
operations for
decision management
systems.
7. Systematization
of default warning
operations.
8. Addition of sub-
brokerage good-till-
cancelled (GTC)
orders.
1. Optimization of
Backend for Sub-
Delegation.
2. Optimization of the
"Happy Retirement"
Global Platform. Respond to the roll
Wealth 3. Optimization of trust out of new business
platform cash flow, Expected to Completed
Management areas and improve
account opening, provide services design process;
Division's service quality while 20 million Ongoing
account change, and in fourth-quarter, business process
relevant optimizing processes
related operations. 2025 planning
development 4. Transition to overseas and intergrading
projects stock trading. systems.
5. QI operations
requirements: sub-
brokerage system
function addition and
adjustments.
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Critical
Project Details of Plan and Expected Current Expected
Project Plan Success
Name Benefits Cost Outlay Progress Completion
Factors
1. KYC revision.
2. Centralization of ticket
verification.
3. As400 light core project:
overseas stock system.
4. Not limited to t0, with
the addition of t1
and t5 Inter-system
Brokerage verification. Respond to the roll out of new business
5. Securities business loan Completed
department’s areas and improve Expected to
operations–semiannual. design process;
relevant service quality while 25 million Ongoing complete in fourth-
6. Sub-account–t+2 business process
development optimizing processes quarter, 2025
full prepayment planning
projects optimization. and intergrading
systems.
7. Branch accounting
account operations audit
system.
8. Online application for
credit and personal
discount interest rates.
9. Online credit renewal
application.
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D. Future Business Development

In an effort to establish our core competiveness, it is essential that we have a clear understanding of future trends in the securities industry and then establish a corresponding business development plan. We must also develop strategies that will allow us to accommodate business areas newly approved by regulators so that we are in a position to move quickly in these new markets. Accordingly, we see our business developing in the following ways:

Continue to recruit exceptional talent, and thereby improve our competiveness and, in doing so, increase our market share.
Implement risk management practices and technologies, thereby improving profitability and stabilizing overall business operations.
Improve IT and enhance e-business infrastructure.
Offer professional asset management and provide personalized financial planning services.
Develop foreign market to search for profit opportunity in trading.
Cultivate talented researchers and thus raise our abilities in designing new products.
Synergize our business units and enhance our wealth management services.

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Business Short-term Development Long-term Development
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Business	Short-term Development	Long-term Development

Brokerage	1. Promote marketing activities to increase customer transaction frequency and increase revenue. 2. Enhance the construction of various transaction platforms to provide customers with a more convenient and real-time transaction system. 3. Enhance risk management to lower rates of errors. 4. Optimize the customer relationship management system. 5. Construct a self-help service framework. 6. Communicate with customers and revitalize static accounts. 7. Implement operators' education and training to cultivate versatile operators. 8. Promote the wealth management business and provide customers with professional and diversified financial wealth management services. 9. Promotion of two-way natural person bond loan businesses. 10. Promotion of non-restrictedpurpose loan business.	1. Provide professional research and service quality to acquire institutional and foreign investor customers. 2. Promote cross (and regional) marketing. 3. Integrate electronic transaction platforms for diversified products. 4. Increase smart self-help services. 5. Conduct periodic personnel training and replace ineffective employees. 6. Promotion and integration of wealth management services.

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Business Short-term Development Long-term Development
1. Intensify operations in international stock markets: Include 1. Enhance internal division of labor and use the
the trading authorization of securities in U.S., Japan, Hong risk management system to increase performance
Kong, A shares (Shanghai-Hong Kong-Shenzhen Stock of operations and aid supervisors in adjusting
Connect), and overseas fund. strategies and positions at appropriate times.
2. Implementation of various instruments: Use foreign options 2. Conduct more extensive company visits and
to conduct hedging and non-hedging transactions. maintain information exchanges with other
Proprietary
companies in the industry to increase the
Trading
Company's knowledge of individual listed
companies and thereby increase profits.
3. Expand international investment businesses in
foreign spot transactions as well as research and
investment in futures market that are permitted
by laws.
1. Diversify the scope of transactions by developing different 1. Construct a complete global financial product
types of foreign currencies note trading. database and a comprehensive foreign bond
2. Increase foreign trade counterparties to acquire better transaction platform.
opportunities. 2. Strengthen the judgment of global trends and risk
3. Increase Ropo counterparties to enhance foreign currencies awareness and strengthen sovereign debt trading
funding. to diversify the risks of trading corporate bonds.
4. Enhance control over the supply end in international bonds to 3. Expand customers for bonds denominated
increase opportunities for profits. in foreign currencies and provide them with
5. Increase the proportion of foreign currencies bond trading to diversified bond products.
Fixed Income
achieve better performance than trading in domestic market. 4. Develop a product line for structured products
Business
6. Increase the proportion of secured convertible bonds with and strengthen the ability to develop products
strictly risk management to keep high profits. to satisfy risk preferences and requirements of
7. Enhance the sales and underwriting capabilities in fixed different customers.
income products to expand fee profits other than proprietary 5. Increase relevant commission revenue to balance
trading. the risk-related revenue from proprietary trading.
8. Expand corporate-related business and high-net-worth 6.Explore and expand new revenue streams through
customers and strengthen the connection. service fees, in response to the government’s
9.Enhance the design capabilities of proprietary products to regulatory changes.
increase the diversity of fixed-income products.
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Business Short-term Development Long-term Development
1. Warrants business 1. Provide diversified customized financial products
(1) Increase the efficiency in the issuance and sales of based on customer requirements.
warrants and carefully formulate issuance strategies based 2. Strictly execute risk-monitoring system for
on main investment targets in stocks with good historical derivatives.
performance in shareholders' return on equity. Provide 3. Diversify hedging products and flexibly
diversified product lines with different strike prices and implement options in stocks with the same
different maturity dates. targets, convertible bonds, equity options etc.
(2) Enhance hedging transaction skills and increase the to effectively lower various Greeks risks of
performance of transaction systems to increase profits in derivatives.
warrant hedging. 4. Comply with the openness of the competent
(3) Diversify hedging products and flexibly implement authority in the future and continue to issue or
options in stocks with the same targets, convertible bonds, sell domestic and foreign derivative financial
equity options etc. in addition to warrant subjects in products as an agent. Continue to demonstrate
current stocks to effectively lower various Greeks risks. the performance of the Company's financial
2. Structured products engineering team and integrate expertise in
(1) Design products that are suited for various market financial, information, mathematical disciplines
Financial situations, demand-oriented, and profitable, with the to enrich the product line of financial products
Products aim of allowing customers to achieve stable profitability and disperse revenue sources.
through carrying out transactions of quality target
products.
(2) Provide customized products for individuals and
institutions.
(3) Establish stable transaction strategies for hedging.
3. ETNs
(1) ETNs are guaranteed by the issuer’s credit to provide
compensation for the indices tracked. Compared with
ETFs, there is no tracking error, which can be a good
choice for investors in asset allocation.
(2) In the future, various types of constituent stocks will be
issued. In addition to the existing filtering indicators, such
as cash dividends, low volatility and dividend yields, we
will gradually develop future-oriented indices, including
various industry sectors. We will also aim to issue
domestic and foreign target indices with great potential.
1. Continue to develop transaction strategies and modules to 1. Enhance strategic real-time measurement and
create profits for the department. analysis capabilities and build a comprehensive
2. Strengthen the automated risk control ability for each foreign remuneration risk decision-making and
strategic module. analytical system module.
Quantitative 3. Expand cross-market arbitrage and price difference 2. Completely systemize and automate the order-
Trading transactions for foreign products. placing module and the risk control mechanism.
4. Optimize the efficient of automated ordering in the
department program.
5. Expand the CBAS business to enhance profitability.
1. Respond to changes in the underwriting market, actively 1. Seek private equity businesses and actively
seek lead underwriting cases for IPOs, enhance fixed profits; operate related investment banking businesses in
carefully select SPO (including CB and ECB) industries and the Greater China Region.
focus on lowering the Company's credit risks while targeting 2. Collaborate across industries for the group to
Underwriting medium to large projects. expand customer base in the Greater China
(Capital 2. Seek public listing (OTC listing) operations of returning Region.
Market) Taiwanese companies.
3. Coordinate with OSU operations in expansion of related
investment banking operations. Cooperate with the Fixed
Income Department to invite foreign financial institutions to
issue international bonds in Taiwan.
1. Assisting companies with handling stock-related affairs as an Actively expand the number of serviced
Shareholder agent. companies.
Services 2. Update operating models in accordance with laws at any
time.
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IV. Business Environment

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Business Short-term Development Long-term Development
1. Continue to increase the product lines, develop differentiated 1. Improving financial services to enhance the
services by enhancing the promotion of unique financial convenience of wealth management.
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Business	Short-term Development	Long-term Development
	1. Continue to increase the product lines, develop diferentiated services by enhancing the promotion of unique fnancial	1. Improving financial services to enhance the convenience of wealth management.
Wealth Management & Trust	products. 2. We are actively working to increase our market uptake and improve our competitive pricing. 3. Deepen business relationships with professional investors and high-net-worth clients. 4.Strengthen our presence in the corporate market and explore various sources of proft by promoting employee stock trust welfare business.	2. Platform upgrade to meet customers' one-stop shopping needs. 3.We aim to recruit exceptional fnancial consultants and expand our business team. 4.We are in the process of establishing an expert team that will provide customized fnancial services. 5.Provision of fnancing and lending services in line with regulatory liberalization. 6.Focus on customers experience, and create professional fnancial image.

II. Market Conditions

A. Analysis of the Securities Industry

1. Sales and Services Area

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Unit: NT$ thousands
2022 2023 2024
Area
Amount % Amount % Amount %
North 3,616,264 74.98% 4,095,805 76.44% 5,405,116 77.22%
Central 388,712 8.06% 573,576 10.70% 815,482 11.65%
South 818,114 16.96% 689,188 12.86% 779,145 11.13%
Total 4,823,090 100.00% 5,358,569 100.00% 6,999,743 100.00%
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Note 1: The amounts in the table above are brokerage fee revenue.

Note 2: The distribution area of the headquarters and branches is as follows:

Northern area: Taipei Headquarters and branches in Hsinchu and north of Hsinchu. Central area: Branches extending from south of Miaoli to north of Chiayi.
Southern area: Branches south of Tainan and in Kinmen.(Included Changhua branch and Yuanlin branch before 2022)

2. Breakdown of Market Share According to Business Area

As of Dec. 31, 2024

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Business Area Component Market Share Rank
Equity Brokerage Trading Volume 2.57% 10
Brokerage
Individual Branch 0.10% 6
Warrants Issued (Volume) 5.49% 7
Financial Products
Equity Options Business Volume 32.87% 2
Domestic Bonds 0.46% 17
Fixed Income Business
(Conditional and Outright) International Bonds 5.08% 4
16 (5.05%)/
Lead Underwriting Deals (No./ Volume) 8
4.121 billion (2.38%)
Underwriting
(Note 1)
Lead and Co-Lead Underwriting Deals 54 (4.22%)/
11
(No./ Volume) 4.880 billion (2.27%)
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Note 1 : Due to the difference of calculation base date, the number or volumn of deals may be different from the content of other chapters.

Note 2 : Market share and ranking are base on domestic securities industry's competitors.

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3. A Look at Future Growth as well as Supply and Demand in the Market

In response to the development of financial technology, the Financial Supervisory Commission (FSC) has authorized securities firms to invest in the financial technology sector. Furthermore, in light of the overseas listing of Bitcoin ETFs, the FSC has also revised regulations governing securities firms' brokerage of foreign securities, permitting them to accept commissions from professional investors for trading virtual asset ETFs. Looking ahead, the FSC aims to position Taiwan as an asset management hub in Asia by planning to strengthen the domestic stock market, expand the asset management services offered by securities firms, and introduce a diverse range of products and services, including crossborder ETFs, actively managed ETFs, and personal investment accounts. It is anticipated that the market's breadth and depth will be further enhanced.

In the brokerage business, the Financial Supervisory Commission has been studying diversified financial products, such as “permitting securities dealers to launch ETNs” and "Introducing shortterm accommodation for on-passage settlement of listed securities for securities firms," rolling out new services and promoting new policies for new opportunities, so as to continue to expand the size of the capital market, build a well-developed securities market, and enhance the competitiveness of the securities and futures industry every year. The opening of new business means new opportunities that could stimulate increased market transactions. The Company has also remained active in planning related business in hopes of providing customers with more comprehensive product services.

In 2024, geopolitical risks, ongoing unresolved conflicts between Russia and Ukraine as well as Israel and Palestine, and Fed policy changes, in addition to potential interest rate cuts by the Fed, have significantly impacted the global economy and market sentiment, creating a pronounced atmosphere of caution among investors. However, AI-related themes have led to an increase in trading volume in the Taiwan stock market compared to the previous year. In 2022, regulatory authorities passed measures to allow securities firms to engage in the short-term financing of in-transit delivery of listed securities. In 2025, they completely lifted restrictions on qualified investors for the Taiwan Innovation Board. These measures are guiding more domestic and foreign innovative enterprises and capital into the capital market, thereby enhancing trading volume capabilities. The short-term financing of in-transit delivery of listed securities also enables clients to utilize their funds more efficiently, invigorating the overall momentum of the stock market.

In response to Finance 3.0 trends, the Company shall continue to enhance electronic ordering businesses and integrate functions on the transaction platform. The ratio of electronic transaction operations has reached 69.15% in 2020, 78.44% in 2021, 79.37% in 2022, 77.72% in 2023 and 78.08% in 2024. In 2024, the e-Index introduced a new day trading section, Taiwan stock strategies, a dividend section, and ETF data analysis. “Quantitative Bricks” were launched on the app, Jin Ying Island, providing diversified and AI-driven stock selection functions that provided a smoother user experience and aligned with popular digital services in the market, thereby offering electronic trading customers an improved experience. In addition, the Company shall continue to develop and optimize a global transaction platform and provide customers with more international and diversified options once business development matures. It shall also provide quality services to increase customer satisfaction and build company reputation to achieve better performance.

As for our underwriting business, with competition for corporate funds raising deals increasingly intense, many corporations are learning that they have many options available to meet their financing needs, and that equity issues are not always their best option. As a result, companies that are properly screened and that demonstrate sufficient creditworthiness, as well as the preferred stock that issued by financial holdings companies and commercial banks, can often be better off turning to convertible bonds. Plus, with the number of large companies that have not already publicly listed shrinking and the demand for integration due to competition within industries increasing, financial advisory business and corporate funding such as private equity, mergers and acquisitions, capital reductions are growing.

Also, the Taiwan government has recently been actively encouraging foreign companies to consider Taiwan for primary and secondary listings, forcing most domestic underwriting departments to think more broadly and internationally. Add to this the regulators opening up of Offshore Securities Units (OSU), which allow domestic brokerage houses to become more international in scope. Going forward, the Company intends to pursue more international integrated investment banking business in the Greater China Region, and to pursue more foreign companies to list in Taiwan, thereby breathing new energy into Taiwan’s equity markets.

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IV. Business Environment

Regarding proprietary trading, many factors may cause market fluctuations in the year 2025:

Policy direction of U.S. President Donald Trump: President Trump's "America First" policy encompasses the imposition of higher tariffs and the expansion of the chip blockade against China, while concurrently reinforcing the "Made in America" initiative. This strategy encourages technology companies to relocate their supply chains to the United States, which may affect Taiwan's semiconductor industry as well as the production costs and production layouts of electronic components, thereby increasing the volatility and uncertainty of the Taiwan stock market.

Federal Reserve interest rate policy: The United States tariff plan presents inflation risks, and the uncertainty surrounding price outlook will influence the Federal Reserve's pace of interest rate cuts. The implementation of tariffs under the Trump administration in 2020 occurred more rapidly than anticipated, potentially leading to an earlier conclusion of the de-inflation process. Inflation is expected to remain above 2% for some time, which will make the Federal Reserve hesitant to implement hasty interest rate cuts. According to the latest report from Morgan Stanley, the initial expectation was that the Federal Reserve would cut rates once in March and once in June this year, totaling a reduction of 50 basis points. The most recent forecast has been revised to indicate that there will only be a single cut of 25 basis points in June.

Fundamentals: The AI industry has been a significant driving force behind the global stock market in 2023, positively impacting the Taiwanese economy. However, after undergoing an inventory adjustment period from 2022 to 2023, companies are now replenishing their raw material and component reserves. This development signals a positive trend for the supply chains of both the electronics and traditional industries. With the backing of subsidy policies in various countries, demand for consumer products is also anticipated to rebound. Recently, the Chinese startup DeepSeek has emerged, igniting a revolution in low-cost AI large language models and shifting the focus of AI model development from cloud infrastructure to platforms, software, and end applications. This transition is influencing market confidence in investments within the AI industry. Moving forward, it will be essential to gradually assess the profitability of Cloud Service Providers (CSPs) and monitor changes in capital expenditures. Despite facing a series of challenges, the Proprietary Trading Department will maintain a rigorous research approach. We will delve into the fundamental roots of the events, develop suitable investment strategies, and operate with prudence rather than impulsiveness, all with the aim of generating greater profits.

As for our financial products business, we will continue to pursue increasingly tailored products to meet the needs of our clients as the regulators open up new areas of business. This will require enhancing our hedging activities a risk management models, so as to lower risk and ensure stable returns. Additionally, discussions with regulatory authorities regarding listed structured products are ongoing. These products will be issued at a later date once the supporting measures and regulations are fully established.

Our company has been developing its wealth management trust business, and the assets under management (AUM) have been growing at a rate of over 20% in recent years. In the face of the global financial turmoil, inflation, technology innovation, trade barriers and geopolitical risk, we meet the asset allocation needs of clients with different risk profiles by providing “house view” recommendations and investment portfolios. When the market experiences significant volatility, we promptly send out major news commentaries to care for and safeguard client assets. Customer satisfaction and asset appreciation are the primary drivers of continuous growth in trust assets.

In our pursuit of expanding our wealth management business, we are committed to assisting our clients in reaching their financial goals through product innovation, top-notch services, and a team of experts. By enhancing the profitability of our wealth management businesses, our object is to generate sustainable value and foster a favorable operational environment.

4. Market Supply forecast, growth opportunity, and business competitiveness

(1) Our Competitive Strengths
Our corporate image is solid.
We respect professional management and leadership.
Our horizontal organization and human resource costs are well-controlled.
Our position management performance is outstanding in winning percentage.
Our operating costs and risk management are both well-controlled.

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(2) Positive Factors

The global economy is in recovery; consumption and investment are picking up, which will drive domestic economic growth.
Capital is readily available and the cost of capital is quite low.
Flexibility in proprietary trading business with industry-leading performance.
Brand image and channel resources of President Group.

(3) Weakness

Financial holding companies have the advantage of capital employment and crisscross integration.
It is hard to mark up brokerage handling charge due to fierce competition.
The aging of domestic population lowers demand for investments.
The salary growth rate of the youth population grows slowly and the low amount of savings makes it difficult to begin investments.
(4) Strategies for Dealing with the Weakness Identified

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Business Unit Strategy
1. Encourage various departments and subsidiaries to work together to develop new business.
2. Transformation into a multi-functional branch to expand the market share and profit.
3. Expand our spread trading business, increase mid-level customer trading volumes and position turnovers rates.
4. Enhance internal auditing procedures, reduce client complaints.
5. Customized online brokerage system for institutional and mid-level investors.
6. Increase revenues from securities lending service to investors.
7. Identify under-performing brokers and refocus them towards “Marketing” efforts as a means of making a
breakthrough, or refocusing their efforts on cross-selling of non-traditional products.
8. Cultivate all employees’ abilities to cross-sell a range of financial products, particularly personal financial
planning products and wealth management services.
9. Focus on tiered, wealth management sales efforts that take into consideration client preferences, trading habits,
and that provide appropriate product information and that increase trading frequency.
10. Push forward with online brokerage business; implement comprehensive platform that integrates both
Brokerage
information and trading systems. Upgrade online trading system stability and order entry quality.
11. Improve our employee training, assistance in preparation for related licenses, performance management, and
information system knowledge, to upgrade our brokers’ professionalism and productivity.
12. Continue to recruit new employees, cultivate strong management trainees and financial planning professionals
who are familiar with a wide range of products. Train back-office staff to take on sales roles thereby
streamlining HR costs.
13. Evaluate the feasibility of digitizing all back-office operations so as to increase efficiency and to control costs
at individual branches.
14. Implement succession mechanisms for each level of the organization, strengthen our incubation center
functions, retain good talent, solid management training programs, set incentive programs, encourage
successors, smooth generational gaps.
15. Set break-even point for each branch, consider the linkage between target customers and brokers’ performance
and branches’ operation outcome, evaluate potential for future profitability, and adjust business direction.
1. Strictly implement risk control regulations to effectively reduce the impact of systemic risk.
2. Adopt dynamic inventory stock level in the face of market change, switching between “Range Trading” and
Proprietary “Trend Trading” strategies, thereby maintaining an optimal market position.
Trading 3. Improve our research and trading of Emerging Market Exchange equities, foreign-listed equities, and futures
markets, to create more diverse sources of revenue.
4. Add quantitative analysis and technical indicator model analysis to our operating systems.
1. Make good use of macroeconomic databases and develop systematic tools to enhance profitability.
2. Appropriately adjust traders’ mandate and increase traders’ mandates gradually.
3. Enhance traders’ decision making and trading ability.
4. Strengthen foreign bond and covertible bond research and trading team to meet the growing needs of
Fixed Income
expanding businesses.
Business
5. Recruit experts for sales and debt capital market to expand the business scope in fixed income market.
6. Develop structured products in different themes with the advantages in the proprietary trading business.
7. Strengthen corporate-related business and high-net-worth customers and diversify the risk of proprietary
trading business.
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IV. Business Environment

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Business Unit Strategy
1. Be more consumer-oriented and develop new products to meet these demands.
Financial 2. Strengthen market research and investment analysis of foreign market objectives and issue a variety of
Products derivative products to provide customers with diverse options for asset allocation.
1. Diversify our trading strategies to better react to market changes.
2. Expand our range of foreign products traded and increase profitability in foreign products.
Quantitative
3. Increase the efficiency and stability of order placements via automatic trading programs.
Trading
4. Increased the integration of resources across multiple departments, thereby creating better synergies.
1. Prior to taking initial steps on a given underwriting deal, consultations should be conducted with colleagues
throughout the company’s various departments and divisions so as to accurately access to the realistic profit
opportunities and risks of the deal. Once a deal is ongoing, regular reassessments and revisions should be made
in order to ensure the quality of the overall project.
2. When acting as exclusive sales agent for an issue, a risk assessment report must be generated to determine if
Underwriting
risks fall within the firm’s accepted parameters. Afterwards, daily risk values should be generated and market
(Capital
simulations should be conducted to as so have a clear and timely picture of risk exposure and thus determine
Markets)
when to initiate stop losses or when to take profits. The net effect of all of these efforts will be to lower overall
risk while pursuing the largest possible profit.
3. As for the domestic business, customers of several departments, including Brokerage, Corporate Client, Wealth
Management, Financial Product, and Shareholder Services have been integrated; platforms for corporate and
personal financial services have been established and activated.
1. Improve quality of service:
(1) Respond quickly to legal changes which affect procedures and materials. Improve efficiency of training
cycles. Develop employee knowledge on various regulations and procedures. Enhance mutual support and
Shareholder flexibility among employees. Increase efficiency of human resource utilization.
Services
(2) Enhance inter-department cooperation and verifications, thereby ensuring accuracy and security of processes.
Coordination
2. Enhance efficiency of operations:
Follow the internal objective of “Customer satisfaction, unceasing improvement and innovation”, we will keep
increasing the satisfaction rate of agency business.
1. Help business personnel to obtain the relevant professional licenses and raise their wealth management
competence.
Wealth 2. Offering a wide range of products, and focus more on the depth of product service, and satisfy customers'
needs for one-stop shopping.
Management &
Trust 3. We continuously optimize the ordering environment of various product platforms to offer customers
comprehensive and convenient digital financial services.
4. Enhance customer service and enlarge product range to meet the needs of high-net-worth customers.
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B. Productions Procedures of Main Products

The Company is a securities service provider. The business and services provided by the Company do not involve the production processes for physical products, so it is not applicable.

C. Supply Status of Main Materials

The securities business and services conducted by the Company are in accordance with the laws and regulations of the competent authority. There is no supply of physical materials, so it is not applicable.

D. Major Suppliers and Clients

The Company’s main customers include individuals, legal entities, approved foreign professional investment institutions and natural persons. In the past two years, each customer’s purchase (sales) of products failed to reach 10% of the purchase (sales) of products of the Company per year.

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III. Employee Data

Analysis of Average Tenure, Age and Education, for Sales Force in 2023, 2024, and up to March 31, 2025

Unit: Person

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Year 2023 2024 2025Q1
Management 122 129 128
Number of
Regular Staff 1,290 1,362 1,392
Employees
Total 1,412 1,491 1,520
Average Age 46.10 46.09 46.10
Average Tenure 13.01 12.42 12.19
Doctorate Degree 0.14 0.13 0.13
Master’s Degree 18.48 19.05 18.62
Bachelor Degree / Junior
Education (%) 71.46 71.70 71.91
College Graduate
Senior High School 9.92 9.12 9.34
- - -
High School or Less
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Note: Directors and part-time employees are excluded.

Revenue Per Employee

Note: Directors and part-time employees are excluded. Revenue Per Employee	Note: Directors and part-time employees are excluded. Revenue Per Employee	Note: Directors and part-time employees are excluded. Revenue Per Employee
Unit: NT$ thousands
Item	2023	2024
Revenue Per Employee	6,146	8,065

Note: Revenue per employee = total revenue /number of employees

IV. Environmental Protection and Corporate Citizenship

A. Environmental Protection

Based on governmental order #0950007006, each company is required to disclose in its annual report its compliance with the European Union’s Restriction of hazardous Substances Directive (RoHS). The Company is in the securities service industry, so there is no signification environmental pollution nor losses incurred because of environmental pollution (including no compensation and environmental protection audit results documenting any violation of environmental regulations).

B. Work Environment Safety and Precautions

1.In order to maintain the safety and health of employees, an Occupational Safety and Health Project Section has been set up under the Company’s Department of General Affairs. To promote occupational safety and health services, a Type A occupational safety and health business officer and occupational safety and health administrators have been engaged, which have been registered with the Labor Inspection Office, Taipei City Government.
2.The Company pays attention to safety in the employees’ work environment. Regularly review the hazardous factors in the office environment and make necessary improvements. The headquarters and all branches should send personnel to receive training from fire safety managers and occupational health and safety business supervisors. The purpose is to obtain relevant certification qualifications, and develop fire protection plans for each workplace, and maintain a safe office environment.
We have set up a health consultation room, also employed a full-time health manager and a clinical occupational medicine specialist to provide staff health consultation services. Employee health checkups are held on a regular basis every year. In addition to the basic health checkups, PSC conduct a range of examinations, including abdominal ultrasound, intraocular pressure assessment, uric acid testing (for gout), glycosylated hemoglobin testing (for diabetes), and fetal alpha-fetoprotein testing (for liver cancer). Annually review and adjust the examination items based on emerging health trends and needs, ensuring employees gain a comprehensive understanding of their health and receive proactive prevention for cardiovascular and metabolic diseases. The results of the health checkups are documented and managed by health management specialists for follow-up and care.
The headquarters building has a lactation room, and has received the highest level of lactation facility certification from the Taipei City Government's Department of Health (2023-2026).

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IV. Business Environment

5.The Company has received Badge of Accredited Healthy Workplace from the Health Promotion Administration, Ministry of Health and Welfare (2024-2026).
6.In order to promote employee healthcare, the Company actively organizes health promotion activities and seminars on topics such as obesity and the 'three highs' (hypertension, hyperglycemia, and hyperlipidemia), focusing on the prevention and management of chronic diseases. Additionally, through online health education initiatives, the Company helps employees build strong health awareness and encourages the adoption of healthy lifestyle habits.
7.The headquarters building has a 300-square-meter Employee Activity Center, where we have planned exercise spaces such as an aerobic classroom, gymnasium and billiard room, as well as various healthpromoting activities to provide employees with all-around health care. The sports atmosphere and culture of President Securities Corporation is driven by senior executives, who have long established a workplace sports culture and actively promoted the cultivation of regular sports habits among employees. Our performance was recognized by the Sports Administration of the Ministry of Education in 2016, 2018, 2020 and 2023, earning us the "Sports Enterprise Certification."
8.The Company’s office environment considers the safety of employees to be the top priority. Each entrance and exit is equipped with access control card swiping devices. The entrances and exits of each building are controlled by security personnel during the day, night, and on holidays to ensure the personal safety of employees.
9.In accordance with the requirements of the Building Public Safety Inspection Certification and Filing Regulations, the Company regularly entrusts a professional company to conduct building public safety inspections every two years and has obtained a qualified independent management certificate related to building public safety.
10.The Company’s various mechanical and electrical or fire safety equipment (fire alarms or fire extinguishers, and so on) are in compliance with the provisions of the Fire Services Act; the Company outsources regular fire safety equipment maintenance, repairs, and inspections to a third-party institution every year while filing a report to the competent authority.
11.Smoking is completely banned in the Company’s business premises in accordance with regulations, and janitors are hired to clean the office environment. Office floors and carpets are cleaned and waxed regularly to ensure a clean and hygienic work environment.
12.The Company provides employees with a safe and healthy workplace. The office is a comfortable space suited for working as it is equipped with a central air-conditioning system and has adequate lighting.
13.The workplace is equipped with first aid supplies and AED equipment. In total, 70 colleagues in the company have received training in emergency response and obtained certifications. In 2024, the Company conducted CPR and AED training at the headquarters building and received the "AED Safe Place Certification" from the Ministry of Health and Welfare and the Taipei City Health Center. This certification demonstrates the Company's commitment to employee wellness and safety.

V. Labor Relations & Employee Benefit

A. Employee Benefits, Education and Training

1. Employee Benefits

The company has always maintained a harmonious relationship with its employees. We have spared no expense in providing attractive employee benefits, in providing opportunities for personal growth, in providing a pleasant work environment, and in providing clear and accessible communication channels to all levels of management.

In addition, we go beyond simply offering benefits prescribed by Labor Standard Act, such as annual leave time and number of working hours. Employees also enjoy additional benefits such as group insurance for worker’s compensation, accident medical care, and department dining subsidy. As well, we offer employees funds for weddings and in time of bereavement, and organizes and subsidized employee outings aimed at strengthening relationships between the firm and our employees, and among employees themselves.

The company is committed to creating a reasonable, friendly, and efficient work environment for its employees, an environment that includes strong lines of communication for employees to express opinions and suggestions about the firm. With this in mind, the firm has established an “Employee Suggestion Center” and also organizes regular employee workshops to actively solicit, discuss, and then respond to employee concerns and suggestions. The Company has also dedicated itself to building a safe and equal work place with a proper complaint channel.

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President Securities Corporation

In January of 2004, the company expanded its employee benefits to include an “Employee Stock Ownership Trust, (ESOT)”. Each participating employee may decide his/her own monthly contribution to the trust account, and the Company will also set aside a corresponding amount (subject to an award cap according to his/her job rank) as bonus. The aim of this program is to promote long-term commitments from employees as well as encourage healthy savings habits and encourage responsible retirement planning.

To encourage employees to live healthier lives, the Company provides all employees with a smoke-free work environment and arranges annual health checks for employees to improve their physical health. The arrangements are superior to legal requirements. In addition, the Company also conducts periodic blood donation activities and physical and spiritual health seminars from time to time to improve employees’ overall health. The activities include sanitation education, policy, and the environment.

The Company also provides a spacious 200-ping sports center which is equipped with comprehensive sports facilities. It also actively promotes various club activities to promote healthier lifestyles for employees. Essentially, all such benefits and programs are designed to foster a harmonious relationship between employees and the company. In addition, the Company was awarded two stars as Best Companies to work for by Department of Labor, Taipei City Government in 2012.

The Company was also selected as an Enterprise of Happiness by 1111 Job Bank since 2019. Going forward, we are optimistic to continue to improve upon these relationships, always with the ultimate aim of allowing both the company and our employees to enjoy mutual benefit and growth.

2. Education and training courses, expenditures, and number of hours

The Company values education, training, and talent development. The effects of training in 2024 are described as follows:

 Talent training

(1) Talent development for future channel personnel: To meet the needs of the organization’s business development, assist the brokerage department and the settlement department in nurturing new generation of talents to prepare for organizational development.
(2) Nurturing of top talent: In response to the Company’s development and transition needs, and to nurture individuals with diverse perspectives and capabilities, the Company systematically select and develop potential talents, enhancing their ability to conduct precise analyses, identify issues, and swiftly propose innovative solutions, thereby fostering the talent essential for business development.

 Assist the wealth management business of brokerage channel system promotion.

(1) Industry trends: The monthly President Class focuses on analyses of trending industries and individual stocks, allowing our sales team to gain a better understanding of industry dynamics and to acquire the professional skills necessary for wealth management products, thereby equipping them to offer clients suitable financial planning advice.

 FinTech Training Program

(1) Towards the AI Era: Exploring Future Applications seminar: In response to the evolution of AI technology and the advancement of AI science, we are progressively facilitating a corporate transition to empower our colleagues to stay abreast of AI developments and applications. This initiative aims to increase work efficiency and address management challenges.
(2) Generative AI tools collaborative learning group: In response to the emergence of the AI era, this initiative aims to encourage colleagues to embrace and consider generative AI tool application to increase work efficiency. The generative AI tools collaborative learning group will focus on ChatGPT as a starting point, assisting colleagues in improving their digital work application skills. Through collaborative learning and sharing within the organization, we aim to inspire colleagues to think critically and utilize ChatGPT to enhance work processes. Furthermore, we encourage colleagues to cultivate a willingness and habit for interdisciplinary learning, ultimately fostering learning-oriented talent and establishing a learning organization.
(3) Tableau Training for Digital Tools: Beginning with data connection, Tableau provides a range of applications, including built-in maps, quick table calculations, charts, and the ability to combine multiple measures to integrate data sources. This helps organizations analyze and execute tasks, facilitating decision-making and improving business processes, ultimately enhancing operational efficiency.

 Professional Capability Enhancement Program

(1) Project management skills: To effectively promote the business development and digital transformation projects across various departments, project promoters must possess project management and facilitation skills to realize project benefits. Consequently, the Administration Department intends to

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IV. Business Environment

conduct project management training to support relevant personnel in each department in continuously enhancing their project management capabilities, thereby ensuring the organization’s competitiveness.

(2) Problem analysis and solving skills: Equip employees with the ability to quickly analyze and identify problems, and effectively propose solutions in response to the rapidly changing environment and the need for organizational business expansion. Employees are therefore familiar with systematic thinking, problem analysis and solution techniques that help them complete work.
(3) Job instruction and communication training: In response to the digital transformation needs of each department (process/operation/departmental operation/business), and to accelerate the enhancement of job competencies, we rely on experienced talents in each department to play the role of job instruction and coordination to lead colleagues to complete their tasks. By using different communication skills according to the employee’s characteristics and backgrounds, this training enable us to establish a trusting relationship and effectively achieve the organizational goals.
(4) Professional competence certification: By promoting the project of elevating professional competence, we encourage colleagues to engage in cross-functional and diverse learning and development, which will booster efficiency and customer satisfaction.

 Program for improving management by supervisors

(1) Leadership Excellence Development Program: Based on the long-term stable development of the company and the cultivation of management talents. This program is systematic and planned for the inheritance of experience and distribution of talents, and the continuous cultivation of management talents.
(2) Leadership Excellence Development Program: Based on the company’s long-term stable development, the cultivation of management talent, the enhancement of managers’ team communication skills, and the exertion of influence to lead teams in achieving organizational goals.
(3) Performance management and performance appraisal: To meet organizational business development and task implementation needs, managers are required to take responsibility for the talent quality of their respective teams. Managers should effectively utilize performance appraisal techniques and provide guidance and feedback to assist colleagues in formulating employee development plans that address skill gaps, thereby helping team members to realize their potential and meet performance objectives.

 E-training

(1) The training system has been upgraded to version LMS6.8 and its functions are upgraded to improve the Company’s management and implementation of training programs. Through the implementation of learning maps and competency modules, we aim to promote professional competency certification. Colleagues are encouraged to pursue diverse career development across various functions and provide personalized learning plans to meet individual needs. Our ultimate objective is to deliver exceptional customer service that effectively addresses the challenges of our business operations.
(2) The Company purchases and produces training materials based on job requirements, integrates free resources, and selects various online materials suitable for various roles to encourage employees to learn on their own at any time. This allows learning to be more diverse and spontaneous.
The Company received the Taiwan Training Quality Assessment Bronze Award from the Labor Development Department, Ministry of Labor from 2016 to 2024, and won silver award for six consecutive years from 2010 to 2016, and was the only enterprise in the securities industry to receive the Silver Award for six consecutive years. The Company won the bronze award from 2017 to 2024. It developed human-resource development quality management system according to TTQS in consecutive 14 years for consistency and stability.

B. Retirement System and Implementation Status

To encourage employees’ long-term services and professional development, protect employee rights, and improve work efficiency, the Company has established the Employee Retirement Regulations in accordance with the approval granted in the National Taxation Bureau’s (1989) Cai-Bei-Guo-ShiuShen-1 No.112955 . Letter dated November 12, 1989.
The Company established the Employee Pension Fund Management Committee on October 11, 1994 with the approval of the Department of Labor of the Taipei City Government. After the implementation of the Labor Standards Act in March 1998, the Company established the Supervisory Committee of Labor Retirement Reserve in accordance with the laws. Related organization charters and retirement regulations have been approved by the Department of Labor of the Taipei City Government. The Company appropriates funds at least 2% to the Trust Department of the Bank of Taiwan according to the appropriation ratio calculated by the actuary.

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The government implemented the new retirement system in the “Labor Pension Act” in July 2005 to handle employees’ retirement. As of today, the Company has close to 1,500 employees enrolled in the new labor pension system. The Company complies with government policies and appropriates 6% of employees’ salaries to the pension account in the Bureau of Labor Insurance each month.The appropriation amount for 2024 is 81,637 thousand .
Retirement qualifications and principles for payment:
4.1 Voluntary retirement: Employees who met any of the following criteria may apply for voluntary retirement:
- A. Those who have served for more than 15 years and are over 55 years old.
- B. Completed 25 years of service, regardless of age.
- C. Working with the company for at least 10 years and over 60 years old.
4.2 Forced retirement: The Company may request an employee to retire in any of the following situations:
- A. Where the employee attains the age of 65.
- B. Where the employee with mental or physical disabilities is unable to meet the job requirements.
4.3 The calculation of pension:
- A. For employee who joined the Company after July 1, 2005, the pension eligibility follows the Labor Pension Act. During the employment period, the Company shall make monthly contributions based on monthly salary scale set by the Ministry of Labor. A monthly pension of not less than 6% of the salary shall be contributed to the individual pension account established by the Bureau of Labor Insurance.
- B. Employees who joined the Company before July 1, 2005 may choose the following two pension rules for their applicable years of service:
  - (a). Follow the rule of Labor Standards Act: Two bases are given for each full year of service rendered. But for the rest of the period over 15 years, one base is given for each full year of service rendered. The total number of bases shall be no more than 45. The length of service is calculated as half year when it is less than six months and as one year above six months. The basis of salary is based on the average salary of the last six months prior to the employees applying for retirement. Those who choose to apply for this method may opt for the years of service which is after July 1, 2010 according to Labor Pension Act by July 1, 2010.
  - (b). According to the provisions of the Labor Pension Act, the Company pays monthly salary based on the monthly salary scale as set by the Ministry of Labor from the date the employees opts for it. A monthly pension of not less than 6% shall be contributed by the individual as set by the Bureau of Labor Insurance.
4.4 An additional 20% on top of the amount calculated according to the preceding subparagraph shall be given to employees who are forced to retire due to mental or physical disability caused while executing their duties.

C. Employee Disputes and Protection of Employee Rights

In accordance with the Labor Standards Act, the company has instituted its own set of work rules and has submitted a copy of these work rules to the Taipei City Government Department of Labor for approval. In addition to notifying all employees via internet of the content of these work rules, we also have posted a copy of these work rules on rules, we also have posted a copy of these work rules on the company’s internal corporate website where employees may view a copy of these rules at any time.
The Company maintains harmonious labor relations. In addition to regularly convening labormanagement meetings, we also regularly promote labor rights to provide a channel for communication between labor and management, improving the relationship between labor and management.
D. Loss caused by labor dispute in the recent years , and estimate of losses incurred to date or likely to be incurred in the future, and mitigation measures being or to be taken: None.
E. Recent Violations of the Labor Standards Act in Annual Labor Inspections: None.

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IV. Business Environment

F. Certification Details of Employees Whose Jobs are Related to the Release of the Company’s Financial Information

Certification details of employees whose jobs are related to the release of the Company’s financial information are disclosed in the table below. In response to the competent authorities’ requirements for risk management implemented by the risk management unit and the qualifications for operators and internal auditors, the Company’s relevant personnel have also completed the training and obtained relevant qualifications in accordance with the regulations. Currently, four employees in charge of risk verification have obtained the Financial Risk Manager (FRM) Certificate and two employees in charge of auditing have also obtained Certified Financial Service Auditor (CFSA) Certificate.

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Risk Controls Office/ 5 employees
Certifications and Qualifications Received by Employees
Qualified Ratio (%)
Qualification Exam for Securities Investment Analyst 1 20.0
Qualification Exam for Senior Securities Specialist 5 100.0
Qualification Exam for Futures 5 100.0
Certificate of Margin Trading and Short Selling 1 20.0
Qualification Exam for Securities Investment Trust and
3 60.0
Consulting Professional
Qualification Exam for Personal Insurance Representative 1 20.0
Qualification Exam for Non-Life Insurance Representative 1 20.0
Bill Finance Specialist exam 2 40.0
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Finance Department/ 37 employees
Certifications and Qualifications Received by Employees
Qualified Ratio (%)
Qualification Exam for Senior Securities Specialist 29 78.38
Qualification Exam for Securities Specialist 2 5.41
Qualification Exam for Futures 10 27.03
Certificate of Margin Trading and Short Selling 5 13.51
Qualification Exam for Securities Investment Trust and
8 21.62
Consulting Professional
Proficiency Test for Trust Operations Personnel 8 21.62
Qualification Exam for Personal Insurance Representative 8 21.62
Proficiency Test for Financial Planning Personnel 2 5.41
Basic Proficiency Test for Bank Internal Controls 5 13.51
Qualification Exam for Non-Life Insurance Representative 4 10.81
Professional Capacity of Bonds Specialist 1 2.70
Bill Finance Specialist exam 3 8.11
Proficiency test for corporate basic internal control 1 2.70
Qualification Exam for Securities Investment Trust and
1 2.70
Consulting Regulations
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Auditing Office/ 18 employees
Certifications and Qualifications Received by Employees
Qualified Ratio(%)
Qualification Exam for Senior Securities Specialist 14 77.78
Qualification Exam for Securities Specialist 4 22.22
Qualification Exam for Futures 17 94.44
Certificate of Margin Trading and Short Selling 11 61.11
Qualification Exam for Securities Investment Trust and
11 61.11
Consulting Professional
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Auditing Office/ 18 employees
Certifications and Qualifications Received by Employees
Qualified Ratio(%)
Proficiency Test for Trust Operations Personnel 14 77.78
Qualification Exam for Personal Insurance Representative 11 61.11
Basic Proficiency Test for Bank Lending Personnel 1 5.56
Proficiency Test for Financial Planning Personnel 5 27.78
Basic Proficiency Test for Bank Internal Controls 9 50.00
Qualification Exam for Non-Life Insurance Representative 11 61.11
Qualification Exam for Stock Affair Specialist 2 11.11
Bill Finance Specialist exam 2 11.11
Qualification Exam for Investment-orientated Insurance
7 38.89
Product Representative
Proficiency test for corporate basic internal control 4 22.22
Wealth management salespersons 12 66.67
Qualification Exam for Securities Investment Trust and
2 11.11
Consulting Regulations
Trust laws exam 2 11.11
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G. Conduct and Ethics of Employees

The Company has formulated the “Work Rules” and “The Regulations and Declaration” signed with employees for their conduct and ethics. The content is summarized below:

All the Company’s employees shall comply with the following standards and rules in the daily life for the Company’s development and all employees’ welfare:
(1) Environmental sanitation: Maintain sanitation in the surrounding environment and keep documents and supplies tidy.
(2) Clothing and appearance: Dress in a simple and tidy manner; have a haircut and shave from time to time; barefoot, slippers, flip-flops, and jeans are prohibited; wear in uniform from Monday through Thursday.
(3) Interaction with people: Focus on manners, punctuality, and promise-keeping, respect others, cherish public property, work hard, and be efficient.
(4) Commitment: Be active and responsible at work; do not shirk responsibilities; do not be perfunctory; never put off till tomorrow what may be done today.
(5) Customer first: Receive customers in a cordial and attentive manner; put services first; place emphasis on customers’ rights and interests.
(6) Public property: Ensure proper safekeeping and strengthened management of supplies and equipment.
(7) Profit boosting and cost cutting: Assist in the expansion of business, actively strive for the Company’s interests, reduce and save expenses, as well as eliminate waste.
(8) The Company strictly prohibits gambling, noise, and physical fights.
All of the Company’s employees shall comply with the following service standards and rules for maintaining the Company’s interest.
(1) During employment, employees shall not take on part-time (concurrent) duties other than the work designated by the Company. If it is not in conflict with the Company’s operating interests and will not interfere with the full-time work, employees shall report to their supervisors beforehand. Except for the purpose of business, employees shall not use the Company’s name without permission.
(2) Employees shall not look through documents, correspondence, and books of accounts that are not part of their business and present their business documents to irrelevant parties.

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IV. Business Environment

(3) Never leak, transfer, or otherwise the Company’s business or technological secretes, including but not limited to all documents, information, products, or objects or rights with property value, to people.
(4) Employees guarantee that when leaving the Company, all the Company’s information kept related to the work shall be handed over to the unit supervisor, and that Company’s property and relevant documents shall not be taken away.
(5) Employees shall not bring prohibited items and flammable materials into the company; they shall not bring people who do not work at the Company to the Company without permission.
(6) Employees are not allowed to absent the Company’s major meetings without any reason.
(7) The Company’s employees shall report their duties and business to supervisors from the first level all the way up and shall not bypass supervisors in the middle and report to those at higher levels directly, unless it is an emergency or special circumstance.
(8) The Company’s employees shall not take the Company’s property or documents out of the Company without permission, unless with the responsible supervisor’s approval.
(9) The Company’s employees shall not have a loan relationship or guarantee relationship with the Company’s customers.
(10) The Company has prohibited inappropriate lending or loan brokerage among employees.
(11) During employment, employees shall comply with the Company’s assignment of work as well as management and supervision; the Company may adjust the employees’ job duties and workplace location based on business needs in accordance with labor laws.
(12) To protect the Company’s reputation, the Company strictly prohibits employees’ comments that are not verified or may damage the Company’s reputation on any social websites.
To maintain the Company’s corporate culture, the Company’s employees shall comply with the following ethical standards and rules.
(1) When conducting business, employees shall not directly or indirectly offer, promise to offer, request, or accept any improper benefits, including kickbacks, commissions, facilitation fees, or otherwise offer or accept improper benefits to or from customers, agents, contractors, suppliers, public servants, or other stakeholders.
(2) When directly or indirectly offering a donation to political parties or organizations or individuals participating in political activities, employees shall comply with the Political Donations Act and its own relevant internal operational procedures, and shall not make such donations in exchange for commercial gains or business advantages.
(3) For charitable donations or sponsorships, employees shall comply with relevant laws and regulations and shall commit bribery in disguise.
(4) Employees shall not directly or indirectly offer or accept any unreasonable presents, hospitality or other improper benefits to establish business relationship or influence commercial transactions.
(5) Managers shall not take advantage of their positions in the Company to obtain improper benefits for themselves, their spouses, parents, children or any other person.
I will comply with relevant securities laws; in the case of any violations, I am willing to accept the Company’s punishment.
If personal behavior is detrimental to the social public order, good social customs, or personal misconduct has constituted sexual harassment of other colleagues, with specific evidence proving that it has damaged a business unit’s or colleague’s image or reputation, the Company may terminate the employment relationship without notice.
I will strictly abide by the Company’s regulations on copyright protection, do not use computer programs that are not legally authorized on the Company’s personal computers, and will never reproduce or infringe any programs that are legally authorized on the Company’s personal computers. If violating the above-mentioned regulations, I am willing to accept the Company’s severe punishment and accept all the criminal and civil liability.

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Corporate information confidentiality
(1) The ownership, patent rights, and other rights of the business information, research results, or inventions and technologies, which are obtained because of or through my duties, belong to the Company, and I agree to assist the Company in conducting the necessary procedures for obtaining or protecting the rights, whether I am employed.
(2) I agree that the author of the work, which I plan with the fund from the Company or I accomplish through the equipment or information provided by the Company, is the Company, and that the Company owns the copyright.
(3) Never help the Company’s competitors or provide them with relevant materials or information without approval.
(4) Never use Company’s confidential information to threaten the Company as a means of promotion or getting a pay raise.
(5) Never investigate (snoop about) the Company’s confidential information that is not related to the work; never discuss the Company’s confidential information with colleagues.
(6) The salary and bonuses of the Company’s employees are regarded as confidential; I shall not tell other people about my own salary and bonuses and must not inquire about other colleagues’ salaries and bonuses.
(7) If violating the above-mentioned regulations, I am willing to accept the Company’s punishment and take the responsibility for compensation for the resulting damage or losses to the Company.
Regulations on e-mail

Comply with the Company’s relevant regulations on intranet connected to the Internet and e-mail accounts; any violator is willing to accept the Company’s punishment.

H. Internal Legal Compliance and Material Information Management

We have set an “internal material information handling procedures” and assigned the Compliance Office to be in charge of internal major information in order to do coordination and prevent internal trading. In addition, our HR promotes education advocacy toward board members, managerial officers, and employees each year. In accordance with the “Taiwan Stock Exchange Corporation Procedures for Verification and Disclosure of Material Information of Listed Companies” and with the “Taiwan Stock Exchange Corporation Procedures for Press Conferences Concerning Material Information of Listed Companies”, we have posted all such information on the company’s internal corporate website where employees and managers may view it.
Within the Office of the CEO, we have established a Legal Compliance Department, which is tasked with ensuring that all of the company’s processes and administrative procedures are in compliance with the most recent laws and regulations, that all activities are conducted in accordance with relevant laws and regulations. And in accordance with “Standard Directions for the Content and Procedures of Assessment of Legal Compliance of Securities Firms”, this department is also tasked with conducting regular legal compliance evaluations of each department and each branch office and then conducting legal compliance training specific to their needs.
We have created a legal compliance section on our internal corporate website where we routinely post information on any recent amendments made to relevant laws and regulations. We have also set up a hotline where employees can call to learn more about insider trading, its key principles, definitions, and the potential civil and criminal exposures involved. All of these measures, taken together, provide our employees with appropriate and adequate legal guidance.In order to enhance the legal compliance awareness of all employees, the Company organizes regular/irregular educational training courses every year on the Financial Consumer Protection Law, Principle of Fair Dealing, Regulations on AntiMoney Laundering and Counter-Terrorist Financing, Personal Data Protection Law, Insider Trading and Material Information Related Regulations, Prevention and Control of Illegal Infringement, Advocacy for Labor Rights and Benefits, and Information Security Awareness etc.
To comply with Personal Information Protection Act, we established personal data protection system in 2013. Since 2013, the Company has introduced an information management system with the assistance of an external professional consulting team. The Company has established a personal data protection committee and an emergency response team for personal data protection. Every year, each department is required to inspect and review all personal data collected, processed, and used, as well as reviewing the operating standards.

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IV. Business Environment

VI. Information and Communication Security Management

A. Description of the information and communication security risk management framework, information and communication security policies, specific management plans and resources invested in the information and communication security management.

1. Information and Communication Security Risk Management Structure:

At present, the Company’s organization related to the daily operations or projects of information security is the Information System Department, and the primary responsible department of information security business is the Information Security Section of such department, which is an independent dedicated unit for information security. Appropriate personnel are designated to act as the head of the dedicated information security unit. There is no part-time information responsibility or other businesses assigned to the unit which have conflict of interests with the duties, and appropriate human resources and equipment are deployed or implemented. Other Sections act as assisting units to execute or implement information security.

2. Information and Communication Security Policy:

The Company has established rules and procedures relating to information assets, risk assessment, application development, network and communication security in accordance with the requirements of the Information Security Management System (ISO27001: 2022) to serve as the basis for daily operation and management. After obtaining the certification on August 23, 2013, BSI has conducted continuing assessment visit every year and re-assessment every three years. Re-assessment was completed on August 25, 2022. The certificate will remain in force from August 25, 2022 until August 24, 2025.

3. Specific management plans:

The Company, through its management, guides and controls the overall information security activities process of the organization, ensures and maintains effective communication with staff at all levels, follows and maintains effective operation and continuous improvement of “Plan”, “Do”, “Check” and “Act”, and strengthens the information security management system.

4. Resources invested in communication safety management:

In view of the increasing threat of cyberattacks recently, in order to ensure that computer systems have certain level of security protection capabilities, it is necessary to upgrade the protection facilities in each aspect from server room, servers and hosts, user equipment, internet and email, so as to implement control measures in the technical and management aspects and improve and enhance the security protection capabilities of the internet and information systems. In addition to completing the revision and formulation of relevant information security management operating rules, the security updates, patches and version upgrades of relevant equipment will be completed gradually. Furthermore, external units are invited to conduct independent inspections, tests, and assessments to early identify potential information security risks.

5. This year, the information security response concept and respond speed of relevant units were also strengthened through exercises. The information security response strength-ening exercises are as follows:

(1) Preventing malicious e-mail and social engineering practice activity.
(2) The application system backup switch practice activity.
(3) Distributed Denial of Service (DDoS) Attack practice.
(4) 2024 Information and Communication Security Report Practice Plan by the Financial Supervisory Commission and its affiliates.
(5) Information security and health check assessment activity.
(6) Ultimate objective for securities and futures companies tiered information and communication security protection activity.
(7) Mobile application APP testing.
(8) Arranged information security education and training in order to strengthen information security awareness. The training courses include:
- A. Information security incidents and sharing of security concepts.
- B. Use of personal computer and daily information security operations.

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C. Information security skills training and information security concepts.

D. Email security and prevention of social engineering.

It aims to improve the security, reliability, availability of information system and reduce the risks that relevant information security incidents may pose to the Company’s finance.

B. List of losses, possible effects and countermeasures resulting from major information security incidents in the most recent year up to the publication date of this annual report : None.

VII. Material Contracts and Agreements

A. Operating lease contract: For each leased asset with more than NT$5 million of rent per annum as of the Publish Date of the Annual Report

Unit: NT$

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Area Payment Restrictive
Type Asset Lease Term Rental Lessee
(Ping) Method Covenant
Assets
Nanjing Branch 2022.01- Chen, Ting-
leased by the 218 458,000/month Half a year NA
Office 2026.12 Yuan
Company
Assets Bank Taiwan
Dunnan Branch 2024.06-
leased by the 276.12 573,000/month Life Insurance Monthly NA
Office 2027.03
Company Co., Ltd.
Assets Bank Taiwan
Dunnan Branch 2027.04-
leased by the 276.12 584,000/month Life Insurance Monthly NA
Office 2029.03
Company Co., Ltd.
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B. Non-operating lease contract: For each leased asset with more than NT$5 million of rent per annum as of the Publish Date of the Annual Report

Unit: NT$

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Area Payment Restrictive
Type Asset Lease Term Rental Lessee
(Ping) Method Covenant
Uni-President
Assets leased
President Securities 2019.04- Asset
to other 307.06 522,000/month Monthly NA
Building 2024.03 Management
entities
Corporation
Uni-President
Assets leased
President Securities 2024.04- Asset
to other 307.06 553,000/month Monthly NA
Building 2028.08 Management
entities
Corporation
Uni-President
Assets leased
President Securities 2023.09- Asset
to other 108.72 196,000/month Monthly NA
Building 2028.08 Management
entities
Corporation
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V. Financial Status, Operating Results and Risk Management

I. Financial Status

Unit: NT$ thousands

Year Item	Fluctuation	Fluctuation
	Amount	Variance (%)
Current Assets 183,285,113 131,334,685 51,950,428 39.56% Non-Current Assets 10,188,084 9,330,538 857,546 9.19%
Total Assets 193,473,197 140,665,223 52,807,974 37.54%
Current Liabilities 157,854,966 108,355,052 49,499,914 45.68% Non-Current Liabilities 224,629 168,063 56,566 33.66%
Total Liabilities 158,079,595 108,523,115 49,556,480 45.66%
Capital Stock 14,558,313 14,558,313 0 0.00% Capital Surplus 91,261 91,261 0 0.00% Retained Earnings 18,418,062 15,965,609 2,452,453 15.36% Other Equity 2,221,269 1,434,309 786,960 54.87% Attributable to Parent’s Ownership Interest 35,288,905 32,049,492 3,239,413 10.11% Non-Controlling Interests 104,697 92,616 12,081 13.04%
Total Equity 35,393,602 32,142,108 3,251,494 10.12%
Note: Financial information for the years of above-mentioned (based on IFRS) was audited and certifed by CPAs. Main reasons for material changes in assets, liabilities and shareholders' equity items within the last two years (changes over 20% between the frst and second periods, and the change amount reaches NT$ 10 million), its efects, and future response plans: (1) Current assets increased mainly due to the increase of financial assets at fair value through profit or loss - current, the remaining customer margin balance deposited by futures traders, and trade receivables from proprietary trading and brokerage financing operations in 2024. (2) Current Liabilities increased mainly due to the increase of commercial paper payable, futures traders’ equity, trade receivables from proprietary trading in 2024.

II. Analysis of Operating Results

Unit: NT$ thousands

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Year
2024 2023
Amount Variance (%)
Item (Note) (Note)
Operating Revenue 13,029,981 9,542,583 3,487,398 36.55%
Operating Expenses 9,368,543 7,221,061 2,147,482 29.74%
Operating Income 3,661,438 2,321,522 1,339,916 57.72%
Non-Operating Income 1,268,088 892,973 375,115 42.01%
Income before Tax 4,929,526 3,214,495 1,715,031 53.35%
Income Tax Expense 542,734 324,740 217,994 67.13%
Net Income 4,386,792 2,889,755 1,497,037 51.80%
Other Comprehensive Income
794,018 18,506 775,512 4190.60%
(after Tax)
Total Comprehensive Income 5,180,810 2,908,261 2,272,549 78.14%
Net Income Attributable to
Shareholders of the Parent 4,373,054 2,878,951 1,494,103 51.90%
Non-controlling Interests 13,738 10,804 2,934 27.16%
Comprehensive Income
Attributable to
Shareholders of the Parent 5,161,110 2,898,174 2,262,936 78.08%
Non-controlling Interests 19,700 10,087 9,613 95.30%
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Note: Financial information for the years of above-mentioned (based on IFRS) was audited and certified by CPAs.

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Explanation to major variations in the last two years (changes over 20%):

Operating Revenue: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Operating Expenses: Increase in employee benefit expenses and other operating expenses in 2024.
Operating Income: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Non-Operating Income: Increase in financial income,share of the loss of associates and joint ventures accounted for under the equity method in 2024.
Income before Tax: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Income Tax Expense: The increase in income tax expenses was due to the increase in profit in 2024.
Net Income: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Other Comprehensive Income: The increase in net unrealized gain from investments in equity instruments at fair value through other comprehensive incomein 2024.
Total Comprehensive Income: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Net profit attributable to shareholders of the parent: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Net profit attributable to non-controlling interests: In 2024, the profit of investment with ownership less than 100% owned increased compared to the previous year, resulting in an increase in non-controlling interests.
Total comprehensive income attributable to shareholders of the parent: In 2024, the profit from brokerage and proprietary tradings increased compared to the previous year.
Total comprehensive income attributable to non-controlling interests: Due to other comprehensive income of subsidiaries accounted for under the equity method in 2024 increased as compared to that in 2023,with a corresponding increased in non-controlling interests.

III. Analysis of Cash Flow

A. Cash Flow Analysis for the Current Year

(1) Operating activities: Net cash outflow from operating activities was NT$7,134,266 thousand, representing an decrease of NT$13,745,510 thousand as compared to previous year, which was mainly due to the decrease in net cash inflow from operating activities as a result of the increase in financial assets at fair value through profit or loss as compared to the previous year.
(2) Investing activities: Net cash outflow from investing activities was NT$553,501 thousand, representing an increase of NT$283,933 thousand as compared to previous year, mainly due to increase in other non-current assets compared to the previous year, which resulted in increase in net cash outflow from investing activities.
(3) Financing activities: Net cash inflow from financing activities was NT$10,030,235 thousand, representing an decrease of NT$10,436,465 thousand as compared to previous year, mainly due to the increase in Cash dividends which resulted in decrease in net cash outflow from financing activities.

B. Remedy for Cash Deficit and Liquidity Analysis

The Company has maintained a good credit relationship with banks for a long time and maintained mid-and short-term credit lines sufficient to meet the Company’s funding needs.

Year Item	2023	2024		Variance (%)
Cash Flow Ratio (%) -			-
Cash Flow Adequacy Ratio (%)	194.71	172.87		-11.22%
Cash Reinvestment Ratio (%)	-			-
Explanation to major variations: Cash Flow Adequacy Ratio: The cash fow from main operating activities in 2024 is outfow, resulting in an decrease in the Cash Flow Adequacy Ratio compared with that in 2023.

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V. Financial Status, Operating Results and Risk Management

C. Cash Flow Analysis for the Coming Year

C. Cash Flow Analysis for the Coming Year	C. Cash Flow Analysis for the Coming Year	C. Cash Flow Analysis for the Coming Year	C. Cash Flow Analysis for the Coming Year	C. Cash Flow Analysis for the Coming Year	C. Cash Flow Analysis for the Coming Year
Unit: NT$ thousands
Estimated Cash and Cash Equivalents	Estimated Net Cash Flow from Operating	Estimated Cash	Cash Surplus (Defcit)	Leverage of Cash Surplus (Defcit)
, Beginning of Year (1)	Activities (2)	Outfow (Infow) (3)	(1)+(2)-(3)	Investment Plans	Financing Plans
7,720,139	2,896,940	2,636,000	7,981,079	-	-

IV. Effects of Major Capital Expenditures in the Most Recent Fiscal Year on Financial Operations: Not Applicable.

V. Long-term Investment Policy

In 2024, the company’s domestic and foreign reinvestment operations maintain steady. Each subsidiary’s operations will still be subject to strict risk control with timely stop-loss and stop-gain orders, so as to reduce risk and maintain steady development.

As for our present direct investment policy, we consider all areas of business currently permitted by Taiwan’s regulators and look for effective cross-selling strategies and other possible synergies, with the overall aim of best leveraging all of the company’s resources. Looking to the coming year, we expect regulators to again open up many new areas of business. We will expand into these new business areas, develop and promote new financial products. The Company will follow the footsteps of open policy, actively develop and promote various financial products to develop international financing and investment business as well as all kinds of businesses in the future Greater China market. In addition, President Securities Nominee Limited and President Wealth Management (Hong Kong) Limited were liquidated in January and July, 2024, respectively. President Securities Corporaion also made the decision to dissolve its overseas investment President Securities (Hong Kong) Limited in 2022 to simplify the investment structure and improve the overall capital utilization efficiency. The company will more focus on the investment business in mainland China. Going forward, the Company expects to earn considerable profit from the vast China securities market after the joint venture Jin Yuan President Securities Corporation Limited has completed implementation of various businesses and can operate in scale.

The profitability of each investment in 2024 is detailed in VI. Other Disclosures-Operational Highlights of Affiliated Companies.

VI. Analysis of Risk Management

A. The Company’s risk management policies, organizational structure, measurement standards, as well as the impact of various risks and response measures

1. Risk Management Policies

(1) In order to ensure that we have a solid and effective risk management system in place, our system has been developed so as to encompass all of our business areas. Then, with appropriate risk tolerance levels in place, create value for the company, and achieve our return on asset targets.
(2) By constructing risk controls for each individual business area, we are able to achieve a measured approach to risk management. Accordingly, each department is assigned risk parameters based on its respective responsibilities, thereby achieving layered yet comprehensive risk management.
(3) The company’s risk management measures take into account the following forms of risk, market risk, credit risk, liquidity risk, operational risk, legal risk, model risk, reputational risk, and climate risk.

2. Related Risk Management System Architecture

(1) Board of Directors: Audits the company’s risk management policy, supervises sales business strategies, approves all business proposals and trading permissions, and is ultimately responsible for risk management.
(2) Risk Management Committee: Established by the Board of Directors tasked with integrating all risk management operations, with supervising and assisting all the various risk management and related operations. The committee is also tasked with setting the various risk authorities, limits, and targets, for a centralized supervision of the status of all of the company’s risk management efforts.
(3) President Office: Supervises the daily implementation of all the company’s risk management operations and authorizes any exceptions to the risk management.
(4) Assets & Liabilities Management Committee: Controls the company’s overall asset structure, sets limits for different businesses, collects and analyzes domestic and international interest rates, exchange rates, and economic changes.

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(5) Risk Control Office: Is responsible for the drafting of risk policies and regulations, for monitoring market and credit risks, for monitoring liquidity risks, for compiling data on operational risk control and management, for constructing and maintaining the risk management system, for implementation of risk management systems and for ensuring company-wide regulatory compliance.
(6) Auditing Office: Audits operations risk controls, audits the standards for risk controls systems, puts in place internal auditing controls, and implements daily check routines.
(7) Compliance Division: Implements legal risk controls and ensures that all businesses and risk management operations are in compliance with relevant laws and regulations. Compliance Division concurrently is responsible for anti-money laundering and counter-terrorist financing, developing relevant regulations and systems, monitoring internal control and transactions, supervising the implementation by business units, holding training sessions, and reporting cases suspicious of money laundering.
(8) Finance Department: Monitors capital adequacy rates and liquidity risk, and analyzes the company’s asset/liability structure and other key financial ratios.
(9) Business units: Based on the company’s risk management policies and regulations sets risk management guidelines for various businesses, and produces a report on abnormal risk items for the Risk Control Office.
(10) Settlement & Clearing Department: Implementation of risk control and management for settlement, clearing, and short-sale business operations. Implementation of risk management and business department risk management for transactions.
(11) General Affairs Department’s responsibilities: Greenhouse gas inventory and management, Resource sustainability management, Responsible procurement, and Supplier management.

3. Risk Evaluation Standards

The company has set risk management principles. In order to ensure that all of our organizations businesses adhere to our operating policies, operating goals, and capital levels, we must set suitability evaluation policies that can react to changes in our business and in the market:

Market Risk Evaluation
(1) We use RiskMetrics market risk management system to manage our company’s exposure to market risk. In addition to producing daily risk value tables, we perform simulation analysis and historical analysis to supplement missing risk values.
(2) We evaluate the completeness of the evaluation models on different business areas, and evaluate the assumptions, parameters, and data for various product models, and then test if the models for the various products are reasonable.
(3) We evaluate the effectiveness of risk control models, and regularly perform Back Testing to ensure the reasonableness of the models used.
Credit Risk Evaluation
(1) Our company undergoes credit rating evaluations from Moody’s, Standard & Poor’s, Fitch, Taiwan Ratings Corp., and Taiwan Corporate Credit Risk Index(TCRI)
(2) Trading counter-partner credit risk: We assess our company’s maximum exposure in the event that the counterparty defaults, and use maximum exposure limits set by the board of directors in determining the credit risk of a trading counterparty.
(3) Issuer’s Credit Risk: We use KMV models to perform an internal evaluation, and combine that with financial data and stock price data, to calculate a probability of default. Based on these measurements, we then develop an internal evaluation, Z-Score model, to control the external credit risk gaps from issuers and augment.
Operational Risk Evaluation
(1) Operational risks refer to risks of damage caused by internal operations, inappropriate actions or errors of personnel or systems, or external incidents. The definition includes legal risks but does not include risks in strategies and reputation.
(2) We create operations risk policies handbooks that encompass each level of operations.
(3) Ensure the appropriate measurement, disclosure, and control of the operating quality based on risk assessment reports and auditing reports.

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 Climate Risk Evaluation

(1) Climate risk assessment method and process: Using risk matrix to identify and evaluate the level of climate risks, prioritizing risks, and defining significant climate risks. The climate risk assessment method should take into account relevant regulations and internationally recognized standards.
(2) Identify the correlation between climate risks and other risks, such as credit risk, market risk, operational risk, and liquidity risk.
(3) Risk identification and assessment: Identifying and assessing the degree of impact, probability, and potential risks to operational activities caused by climate events.

4. Risk Factors and Corresponding Responses

(1) Management Crisis Risk: Management crisis risk refers to significant market changes, a lack of access to capital, or significant losses from direct investments, which affect a company’s operations and cause losses.
Response: We have implemented a “Management Crisis Response Policy” that clearly lays out what steps should be followed in the event of a serious crisis so as to ensure normal operation of the company.
(2) Market risk: Market risk refers to dramatic changes in pricing or volatility in interest rates, equities, or foreign exchange rate that can result in serious losses to open positions.
Response: We will attempt to lessen the impact of such market risks through prudent business analysis, product analysis, and process analysis, so as to clearly identify sources of market risk. Based on this, we then set effective management controls; we monitor investment position risk levels, risk structure, and risk changes to ensure that they are all in line with our forecasts.
(3) Credit risk: Credit risk refers to the exposure for underwriters for the terms and conditions of the securities that underwrite and for losses that may result from a counterparty being unable to fulfill its obligations to the security.
Response: In an effort to shield ourselves from potential credit risk, we conduct extensive credit risk evaluations prior to a deal being executed and then conduct repeated evaluations after the deal has been executed. Based on these evaluations and a maximum credit exposure scenario for the counterparty in question, we set credit risk limits for that counterparty. In evaluating the risk to the underwriter for debtrelated securities, we look not only at the TCRI rating, but also at default rates based on KMV models.
(4) Operational risk: Operational risk refers to the risk created when internal processes, employees, or systems are inappropriate or cause errors, or the risks caused by external factors. This type of risk is related to legal risks but not strategic risk or credit risk.
Response: In order to reduce the probability of such operation risk occurring, we have created an operating manual that addresses every level of our operations, we perform regular audits of every business segment, as well as every work flow, every legal risk point, and every risk control point. Finally, we compile an audited risk report that helps us to ensure that our operating quality is properly balanced, controlled, and disclosed.
(5) Legal/Regulatory risk: Refers risk related to non-compliance with laws and regulations governing our investment strategies and our business operations, and any resulting corrective orders or penalties from relevant authorities, or any civil or criminal actions taken against us. It also refers to risk related to our inability to perform our obligations under agreements that we have entered into with other parties.
Response: In order to reduce our exposure to legal/regulatory risks, we have created a Compliance Division and Legal Matters Department. Compliance Division ensures that all businesses and risk management operations are in compliance with relevant laws and regulations. Legal Matters Department implements legal risk controls.
(6) Liquidity risk: Liquidity risk refers to position liquidity risks and capital liquidity risks. Sometimes losses can be suffered as a result of illiquid markets that make it difficult to open or close a position at normal market prices requiring that a position be either bought at a premium or sold at a discount. Capital liquidity risks result when positions are increased beyond planned levels, leaving the company with insufficient funds to meet settlement requirements for a position.
Response: In an effort to better manage liquidity risks, we have created centralized risk management standards that take into consideration all departments and that set position limits for each department. We also have a team that performs daily forecasts of capital requirements based on the needs of all company guarantees and service loans, and then monitors daily capital adjustments accordingly. We also produce a monthly “Capital Liquidity Risk Simulation Analysis Table” that analyzes multiple scenarios, forecasts the potential liquidity risks for those scenarios, and estimates the capital levels that each such scenario would require.

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(7) Model risk: Model risk refers to potential situations where market values and other variables are beyond normal and predictable conditions and therefore exceed the ability of the model to handle. Response: We effectively maintain and manage our models with particular emphasis on financial product risk management. We have created a set of “Model Use Management Procedures” that clearly spell out procedures for developing models, for validating models, for managing variables, and for discontinuing the use of problem models.
(8) Climate risks: There are two major types, including physical risks caused by climate change, and transitional risks associated with a low-carbon economy.
Response: Key indicators for managing climate risks should take into account the duration of the climate risk impact and industry factors. If a significant risk is identified that may jeopardize financial or business conditions or violate legal compliance, appropriate measures should be taken immediately and reported to the Board of Directors. In addition, in accordance with regulatory authorities, widely recognized international initiatives or guidelines, the Company regularly discloses the implementation of climate risk management to enhance the quality and transparency of information.

B. An Evaluation of Key Risks

1. Effects of recent interest rates, foreign exchange rate fluctuations, and inflation concerns on our company and our strategies for dealing with these concerns.

(1) Interest rate: Changes in interest rates have a direct impact on the income we derive from our fixed income-related businesses. In addition to conducting our own thorough research on domestic and foreign interest rate trends, we utilize various interest rate derivative tools as well a risk control system that manages our interest rate-related risks, that creates an effective interest rate hedging system for our fixed income-related businesses. Changes in interest rates also affect our company’s financing costs. Going forward, we intend to utilize interest rate hedging and other capital raising avenues as ways to control our company’s financing costs.

The effects and countermeasures:

i. Bond and Interest Derivative Product Business: The amount of our company’s major interest products on March 31, 2025, and the likely loss of NT$286,167 thousand due to the 1% interest rate change (as show in the following table).

Unit: NT$ thousands

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

Profit/loss based on
Item Amount 1% Interest rate
change
Government bond 498,082 -5,600
Corporate bond 1,643,761 -5,986
Bank debentures 99,328 -118
International bond 3,470,880 -16,520
Foreign bond 16,035,178 -257,943
Total 21,747,2229 -286,167
----- End of picture text -----

Countermeasures: Our Company has risk management rules and operational procedures on government bond, corporate bond, bank debentures, foreign/international bond. Our company has put the interest risk under good control by pre-purchase assessment and risk control afterward.

ii. Borrowing: The main risk of borrowing is the fluctuation of interest rate. Our company can adjust methods, conditions and terms of borrowing according to the likely interest changing trend. We can also avert risks through the product of interest exchange etc. Our total debt amount of short-term borrowing and payable short-term bill totals NT$44.15 billion on March 2025. They are both borrowing with interest rate risks. With every 1bp change in market interest rate, our company has to pay NT$4.415 million more interest every year. Countermeasures: Looking at a potential rise in interest rates, we will keep a close watch on the markets and on business demands and will make adjustments to our positions accordingly. According to the resolution of the Joint Board of Supervisors of the Central Bank in March 2025, along with the domestic and international economic and financial situation, it is expected that domestic inflation will gradually decrease in 2025. The CPI year-on-year growth rate is forecasted to drop to around 2%, while the core CPI is projected to continue declining for the second consecutive year, staying below

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2%. Additionally, the global economy is anticipated to slow in 2025, presenting various risks that could affect domestic economic growth. To prudently manage uncertainties, including those arising from U.S. trade policies, the Central Bank ’ s Board of Directors has decided to maintain the policy interest rate at its current level. This decision is aimed at supporting the sound development of the economy and financial system. As such, the Central Bank's discount rate, secured lending rate, and short-term lending rate will remain at 2%, 2.375%, and 4.25%, respectively. It is expected that Central Bank will remain interest rates stable over the coming year and that our company's risks related to the changes of the rates will remain low.

(2) Exchange rate: The Company’s principal business targets and place of business are domestic; hence the impact of currency fluctuations is minimal. Potential foreign exchange risks not just include arising from the par of exchange for foreign currency assets, but also that from foreign currency investment with respect to foreign reinvested or reinvested companies (when future earnings are repatriated or disposed). Whenever the company invests in foreign currency assets, FX swaps will always be in place to avoid foreign exchange risk. Since its overseas subsidiaries are running perpetual operations, the impact of exchange rate movements on long-term equity investments is limited to the changes to book value and does not affect profits and losses.

On March 31, 2025, the company’s main exchange rate product positions, and 1% exchange rates fluctuation may result in a loss of NT$282,388 thousand (as show in the following table).

Unit: NT$ thousands

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

Loss resulted by 1% exchange
Item Position rates fluctuation
Foreign Stock 620,518 -7,925
International Bond 3,470,880 -16,520
Foreign Bond 16,035,178 -257,943
Total 20,126,576 -282,388
----- End of picture text -----

Countermeasures: Our Company’s transactions of foreign stock, international bond, and foreign bond have risk management and standard operating process. The business above was lower the risk of exchange rate by trading foreign exchange swap.

(3) Inflation: The average CPI growth rate from January to March of 2025 was +2.18%, which had no meaningful effect on operations or on profits.

2. Recent High-Risk or High-Leverage Investments, Loans to Third Parties, Pledges Given for Third Parties, Derivative Products Trading Policy and Profitability and Losses, Reasons for Losses and Strategies for Correcting Such Losses Going Forward.

(1) In 2025 Q1, we did not engage in any high-risk or highly-leveraged investments, did not provide any loans to third parties, and did not provide any pledge for any third parties.
(2) We only trade those derivative products which have been approved by the relevant authorities and which are permitted by our company’s Articles of Incorporation. We have also created and followed a “Code of Over-the-Counter Trading of Derivative Financial Products” in an effort to further reduce our exposure to related risk.

3. Future Development Plans and Expected R&D Investments.

To assist with our development of ever-better products and trading strategies, we have assembled a professional financial engineering team, which brings together experts from finance, statistics, mathematics, and information technology, to create trading and valuation software and hardware resources. Our annual spending on human resources and R&D in this area is in the millions of dollars every year. Please see Chapter 4 for more information on the status of our operations and on our R&D efforts.

4. Effects of Significant Policy and Legal Changes both in Taiwan and Abroad and Measure for Dealing with These Issues.

We are constantly on watch for significant policy and legal changes both inside Taiwan and abroad and, to that end, routinely enlists the help of professional legal and accounting firms to assist in evaluating these changes, to help create effective responses to these changes, and to ensure compliance with these changes, thereby working to reduce the effects of policy and legal changes on our business. In recent years, we have been quite effective in adjusting to policy and legal changes both within and beyond Taiwan and, thus, our overall solid financial health has seen little impact from such changes.

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On January 11, 2024, the Financial Supervisory Commission issued Order No. Financial-SupervisorySecurities-Corporate-1120383996 and amended the Regulations Governing the Exercise of Powers by Audit Committees of Public Companies, as well as the Regulations Governing Procedure for Board of Directors Meetings of Public Companies. This amendment aligns with revisions made to the Securities and Exchange Act on June 28, 2023, and aims to enhance the completeness of the Audit Committee's meeting procedures and strengthen corporate governance. Our Company has approved the relevant regulations in accordance with these amendments during the board meeting held on March 4, 2024.
On April 16, 2024, the Taipei Exchange issued No. Securities-TPEx-Bond-11300585341, amending Article 11-2 of "Rules Governing Bond Repurchase and Reverse Repurchase Transactions on Overthe-Counter Markets" and Article 41-1 of "Regulations Governing Over-the-Counter Trading of Financial Derivatives by Securities Firms." These amendments aim to strengthen the risk management of securities firms engaged in over-the-counter (OTC) trading, prevent losses from conflicts of interest, and protect the rights and interests of securities firms. It is explicitly stated that when securities firms and their employees engage in the trading of conditional bonds and derivative financial products, the trading conditions must not be more favorable than those offered to other similar trading counterparts. Our Company has instructed the relevant units to address this matter in accordance with regulations and has communicated this provision to our colleagues.
On May 8, 2024, the Financial Supervisory Commission issued Letter FSC Securities No. 1130382133, amending Article 23 of the "Regulations Governing Securities Firms Accepting Orders to Trade Foreign Securities." This amendment acknowledges that the Taiwan Depository & Clearing Corporation (TDCC) has been providing cross-border custody services since 2015 and has accumulated sufficient experience in ensuring the asset security of the foreign securities it holds. Consequently, to offer securities firms a diverse selection of custodial institutions and to address their practical needs, it has been stipulated that securities firms may entrust the custody of foreign securities purchased on behalf of clients to the TDCC. Our Company has instructed the relevant departments to manage this matter in accordance with regulations and has communicated this provision to our colleagues.
On June 25, 2024, the Taiwan Stock Exchange announced amendments to the "Criteria Governing Internal Control Systems of Securities Firms" (Ref. No.: Tai-Zheng-Fu-Zi-1130011537). The primary focus of this revision is on specific measures aimed at preventing trading disputes and fraud cases (CA11430), optimizing the "Customer Care Interviews" of securities firms, enhancing the prevention of financial investment fraud in the securities market, and adjusting the number of customers selected for interviews and the personnel involved in business audits. Our Company has revised its internal control regulations in accordance with the relevant provisions.
On July 17, 2024, the Taiwan Securities Association issued Chung-Cheng-Shan-Yeh Letter No. 1130003457, amending the "Guidelines for Members for Friendly Financial Services" and the "Q&A on Practical Operations for Members of Friendly Financial Services." This initiative aims to cultivate a topdown culture of financial friendliness. It requires board members, responsible individuals, and senior management of member companies to complete a specified number of hours of education and training courses related to financial friendliness and the Convention on the Rights of Persons with Disabilities (CRPD). These courses may be organized by the member companies themselves or provided externally, and must be completed on an annual basis. Our company has designated the relevant units to manage this matter in accordance with the regulations.
On July 18, 2024, the Taiwan Stock Exchange announced an amendment to the "Securities Borrowing and Lending Rules" (Ref. No.: Tai-Zheng-Jiao-Zi-1130204186). This amendment permits the lending of fractional shares to meet settlement demands, thereby broadening the sources of securities available for lending and providing opportunities for fractional share investors to lend their securities, thus promoting inclusive finance. Our company will evaluate business opportunities and proceed in accordance with the regulations.

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On August 1, 2024, the Financial Supervisory Commission issued Jing-Guan-Zheng-Chuan Letter No. 1130383500, which aims to streamline the content of annual reports to assist companies in aligning with the International Financial Reporting Standards (IFRS) regarding sustainable information disclosure. This initiative involved gathering relevant regulations and practices concerning annual report disclosures from major securities markets, including the United States, Hong Kong, Singapore, the United Kingdom, Japan, and South Korea. Existing regulations in Taiwan regarding corporate information disclosure were examined, as well as considerations of relevance and accessibility of information. Consequently, the requirements for the preparation of annual reports were simplified, and the preparation process were streamlined. Our Company has assigned the relevant departments to handle this matter in accordance with the regulations and will adjust the annual report preparation based on the revised content.
On August 29, 2024, the Taiwan Securities Association issued Zhong-Zheng-Shang-Ye Letter No. 1130004324, permitting securities firms to open wealth management accounts for new clients online, as well as for firms' wealth management services to electronically update clients' basic information. Our Company has directed the relevant units to proceed in accordance with the regulations.
On November 8, 2024, the Financial Supervisory Commission issued Jing-Guan-Zheng-Fa Letter No. 1130385442 in response to the amendment of Article 14 of the Securities and Exchange Act on August 7. According to this amendment, the scope of a company's entry-level employees must be submitted for resolution by the Board of Directors and regularly evaluated to determine if adjustments are necessary, then incorporated into the internal control system. Furthermore, the amendment to a company's articles of incorporation must be completed by the 2025 shareholders' meeting in accordance with the provisions of Article 14, Section 6 of the Securities and Exchange Act. Our Company plans to finalize the amendment to the Articles of Incorporation at the 2025 Shareholders' Meeting in compliance with the relevant regulations.
On November 21, 2024, the Taiwan Securities Association issued Zhong-Zheng-Shang-Ye Letter No. 1130006063, announcing the "Self-Regulation for Securities Firms Utilizing Artificial Intelligence Technology." The content primarily references the Financial Supervisory Commission's announcement on June 20, 2024, titled "Guidelines for the Use of Artificial Intelligence (AI) in the Financial Industry," as well as the Bankers Association of the Republic of China's announcement on May 6, 2024, regarding the "Operational Guidelines for Financial Institutions Utilizing Artificial Intelligence Technology." Our company has assigned the relevant units to handle this matter in accordance with regulations and is in the process of formulating related management measures.

5. Effects of Industry Changes (Including information security risks) and Technological Changes and Measures for Dealing with These Changes.

In response to the changing financial and technological environment, the Company shall create diversified, fast, stable, secure electronic ordering platform and diversified customer financial service as the top development priority. In the pursuit of this goal, the Company shall continue to promote system upgrades and development to steadily increase the ratio of the Company’s electronic orders in the coming years.

In view of the phenomenal growth in the use of mobile devices in the Internet generation, the role of securities dealers is bound to be transformed from a purely “broker and platform” to a “digital business” supported by FinTech and AI. Therefore, the Company has set up the “Digital Financial Division” and “Digital Business Department” , try to transform the physical branches on a trial basis to integrate the virtual and physical channels, so as to promote the digitalization and paperless operations of business procedures. It is planned to gradually complete the online digital services starting from electronic trading in the directions of diverting customer flows, differentiation, and customized services.

To build a data-driven corporate culture amid trends in digital transformation, the Company has been transforming its processes through internal digitalization, with a comprehensive focus on improving existing management systems, operational processes, human resources, and systems. In 2022, the Company initiated the Enterprise Data Platform Construction Project, with the aim of establishing data governance capabilities with data development and continuously expanding data assets. The goal is to establish a data-driven organizational culture and enhance the Company's competitiveness.

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In response to the increasing trend of placing orders via mobile devices and customized trading in the overall market, customers are provided with the all-round app of the digital integrated financial investment service platform with the app interface adjusted according to customer feedback. We launched a new educational video channel on our platform to help investors gain a better understanding of platform operations. In addition, we enhanced our operational system to provide a more dynamic and interactive customer service platform for business personnel, with the goal of fostering business growth and generating new business opportunities.

In addition, in response to the FSC’s requirements for strengthening information security in the financial market, the Company will continue to use existing information security management regulations (ISO27001), internal auditing and periodic reviews by third-party certification institutions to enhance the management system. The Company shall also invest specific amounts in the annual budget on the enhancement of the protection of the information security framework to facilitate business growth and create new business opportunities.

The Company has arranged third parties to conduct tests on the information security operations center (SOC), dual ISP backup architecture, and periodic joint prevention tests. Disaster Recovery server room construction, support code inspection, finished trading host conversion to FIX connection project and APP lab inspection have been completed.The goal is to increase the stability of the information system and prevent risks in external information security attacks in order to achieve the goal of fair transactions with investors and create wealth with customers.

6. Significant Impairment of Corporate Image and Measures for Dealing with that Damage.

Our company has a core philosophy of “Good Quality, Good Credibility, Good Service and Fair Prices”. This is combined with the concept of “Professional Leadership, Kind Service”. the Company has been a long-standing supporter of important social charitable activities and devoted to fulfill corporate social responsibility. Since the date of the establishment, the Company has no negative corporate image issues to report.

7. Expected effect of acquisition and the possible risk: None.

8. Expected effect and possible risk of expanding business locations and the countermeasures: None.

9. Expected effect and possible risk of excessive concentration of purchasing sources and excessive customer concentration: Not Applicable.

10. Effects of, Risks Relating to and Response to Large Share Transfers or Changes in Shareholdings by Directors, Supervisors, or Shareholders with Shareholdings of over 10%: None.

11. Effects of, Risks Relating to and Response to the Changes in Management Rights: None.

12. Litigation or Non-litigation Matters

(1) Major lawsuits, non-contentious matters or administrative procedures with a determined court ruling or that are still pending, that may significantly affect the shareholders’ equity or the stock price of the Company (over the previous two years and up to the time that this annual report was published):

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==> picture [487 x 519] intentionally omitted <==

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

Parties involved in The current Amount
The major claims Date Remark
major lawsuits progress (Unit:NT$)
The plaintiff Chiang, ○-Hang, acting Plaintiffs: 2024.8 On January 17, 104,100 After the evaluation
in the capacity of executor of the will, Chiang, ○-Hang 2025, the Taiwan of this case, the
requested that our Company's stock Defendant: Taipei District case has no material
affairs agent process the transfer of PSC Court ruled that impact on the
stock inheritance registration. However, our Company shareholders' equity
the transfer could not be processed shall proceed of the Company
because the required identification with the transfer or the price of
documents for all inheritors were registration of securities.
not submitted in accordance with 3,000 shares of
regulations. Therefore, the plaintiff Siward Crystal
requests that the court order our Technology Co.,
Company to carry out the transfer Ltd. stock held by
registration. the decedent and
bear 3% of the
litigation costs.
Customer Lin, ○-Rou from the Plaintiffs: 2024.1 On May 14, 1,000,000 After the evaluation
Taichung Branch has filed a lawsuit Lin, ○-Rou 2024, the of this case, the
against our Taichung Branch. The Defendant: Taiwan Taichung case has no material
lawsuit results from dissatisfaction with PSC District Court impact on the
offsetting the refundable amount after ruled to dismiss shareholders' equity
redeeming the current securities and the the plaintiff's of the Company
overdrawn borrowing fee. lawsuit, thereby or the price of
concluding the securities.
entire case. Our
Company is not
obligated to pay
any compensation.
As the Company requires presidents Plaintiffs: 2023.3 The Taiwan Chen, After the evaluation
to be in service at the time of payment Chen, ○-Long High Court ruled ○-Long: of this case, the
of deferred bonuses, former branch Huang, ○-Fa in favor of our 1,781,554 case has no material
presidents Chen, ○-Long and Huang, Defendant: Company, this Huang,○- impact on the
○-Fa were unable to receive the FY PSC case was closed. Fa:1,223,960 shareholders' equity
2021 deferred bonuses due to their The Company of the Company
retirement from the Company and filed was not liable or the price of
a lawsuit to require the Company to pay for paying any securities.
the bonuses. compensation.
----- End of picture text -----

(2) Any Company director, supervisor, manager, responsible person, or company shareholder holding more than 10% of the company’s shares that is involved in any judgments already handed down or any ongoing litigation, non-litigation, or administrative action over the previous two years up to the time that this annual report was published, the potential effects on shareholder rights and on the company’s share price, the key facts of the dispute, dollar values involved, the date that the litigation was initiated, the key parties involved, and the current status of said litigation(s): None.
(3) Any company director, supervisor, manager, responsible person, or company shareholder holding more than 10% of the company’s shares that has been found in violation of Article 157 of the Securities and Exchange Act over the previous two-year period and up to the time that this annual report was published, and the current status of any related action taken or being taken against that person: The Company claimed for the disgorgement (NT$ 1,785 for price spread and 51 for interest, NT$ 1,836 in total) from Mr. Li , a former legal representative of legal entity shareholders, in accordance to article 157 of the Securities and Exchange Act on December 2, 2024, and informed Securities and Futures Investors Protection Center on December 17, 2024. Any similar situation happend from December, 2024 to now: None.

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13. Other Important Risks:

(1) Impact and countermeasures for addressing personal data leakage risks: To ensure the standardization of the collection, processing, and use of personal data, prevent any violation of personal rights, and promote the responsible use of such data, our Company has complied with the provisions of the Personal Data Protection Act. Since 2013, we have worked with external professional consultants to establish a robust personal data management system that effectively protects customers’ personal information and transaction data from unauthorized disclosure.

The Company has established a personal data protection committee and an emergency response team to protect personal data. Each year, all departments are required to conduct an inventory and review of the collection, processing, and use of personal data, as well as operational guidelines. The company also effectively manages personal data breach incidents to raise crisis awareness among all employees. Annual privacy training and data breach drills are conducted to improve response capabilities and incident management.

(2) Impact of information system damage on the Company’s financial operations and response measures:

The increasingly frequent security attacks may cause disruption to business operations and in turn affect business revenue and damage the corporate image. President Securities Corporation has begun to import the Information Security Management System (ISMS) since 2013, and obtained ISO 27001 certification on August 23, 2013 and continued to maintain the validity of the certification. The extension review was completed on August 7, 2024. The certificate will remain in force from August 25, 2022 until August 24, 2025. The information security governance has been gradually developed and implemented, with the strict requirements of various information security standards.

In view of the increasing threat of cyberattacks recently, to ensure that computer systems have certain security protection capabilities, it is necessary to upgrade the protection capabilities in each aspect from computer facilities, servers and hosts, user equipment, the internet all the way to e-mail, so as to implement control measures in the technical and management aspects and improve and enhance the security protection capabilities of the internet and information systems. In addition to completing the revision and formulation of relevant information security management regulations, the security updates and version upgrades of relevant equipment will be completed gradually. Furthermore, external units are invited to conduct independent inspection, tests, and assessment to identify potential information security risks early.

This year, the information security response speed of relevant units was also strengthened through exercises. The information security response strengthening exercises are as follows:

Social Engineering Exercises for Prevention of Malicious Email
The core system disaster recovery has switched to practice activities.
Distributed Denial-of-Service (DDoS) Attack and Defense Exercises
2024 Financial Supervisory Commission and Its Affiliated Institutions (Organizations) Annual Financial Security Notification Exercises
Information Security and Checkup Assessment
The ultimate goal of hierarchical security protection in the securities and futures industry is to strengthen information security awareness and arrange information security education and training, which includes:
-Information on security incidents and sharing of security concepts
-Personal computer use and daily security operations
-Information security skills training and information security concepts
-Mail security and prevention of social engineering

It aims to improve the security, reliability, availability of information systems and reduce the risks that relevant information security incidents may pose to the Company’s finance.

VII. Other significant events: None.

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VI. Other Disclosures

I. Consolidated Business Report of Affiliated Companies, Consolidated Financial Statements of Affiliated Companies, and Reports of Affiliation

A. Summary of Affiliated Companies

1. Affiliated Companies Chart

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PRESIDENT SECURITIES CORPORATION
Shareholding Shareholding Shareholding Shareholding Shareholding
100% 100% 95.82% 100% 100%
President President
PSC Venture
Insurance President Capital President Securities
Capital Investment
Agency Futures Co., Ltd Management (Hong Kong) Limited
Company Limited
Co., Ltd. Corp.
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2. Basic Information of Affiliates

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

As of March 30, 2025
Established Paid-in Capital
Company Address Currency Main Business
Date (in thousands)
President Futures B1.,No.8, Dongxing Rd., Taipei
1994.03.01 NTD 771,200 Futures and brokerage
Co., Ltd City
President Capital 3F.,No.8, Dongxing Rd., Taipei Securities investment
Management Corp. 1997.04.15 City NTD 300,000 and consulting
Securities proprietary,
President Securities Level 20, Infinitus Plaza 199 Des
brokerage,
(Hong Kong) 1994.07.26 Voeux Road Central, Sheung HKD 192,600
underwriting, and
Limited Wan, Hong Kong
consulting (Note 2)
President Insurance 4F.,No.8, Dongxing Rd., Taipei
2008.04.29 NTD 10,000 Insurance agent
Agency Co., Ltd. City
Consultation
of investment
PSC Venture management and
2F.,No.8, Dongxing Rd., Taipei
Capital Investment 2013.10.29 NTD 300,000 venture capital; other
City
Company Limited unprohibited or
unrestricted businesses
beyond the permit
----- End of picture text -----

Note : President Securities Nominee Limited and President Wealth Management (Hong Kong) Limited were liquidated in January, 2024 and July, 2024, separately.
Note 1: Foreign exchange rates: HKD/NTD (2024 average) = 4.1167 ; HKD/NTD (end of 2024) = 4.2220
Note 2: President Securities (Hong Kong) Limited was approved by the board of directors to deal with the dissolution and liquidation matters. The liquidation process is currently in progress.

157

President Securities Corporation

3. Rosters of Directors, Supervisors, and Presidents of PSC’s Subsidiaries

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As of March 30, 2025
Holding Shares
Company Title Representative
Shares Shareholding Ratio
Chairman Huang, Yi-Ming
Director Lin, Kuan-Chen
PSC holds
Director Yang, Kai-Chih 95.82%
73,899,647 shares
Director Lin, Jung-Hui
President Futures Co., Ltd Director Huang, Jung-Jen
President Wu, Huang-Chi 0 0%
Supervisor Yang, Ya-Ting 0 0%
PIDC holds
Supervisor Kuo, Kuan-Hung 1.00%
771,200 shares
Chairman Li, Fang-Kuo
PSC holds
Director Chen, Wei-Chun 100%
30,000,000 shares
President Capital Management Director Wu, Pai-Cheng
Corp.
President Liao, Wan-Ting 0 0%
PSC holds
Supervisor Pan, Lung-Ching
30,000,000 shares 100%
Director Lin, Kuan-Chen
President Securities (Hong PSC holds
Director An, Chi-Li 100%
Kong) Limited 192,600,000 shares
Director Tsai, Sen-Bu
Chairman & President Lu, Hsiang-Chung
President Insurance Agency Co., Director Yu, Hung-Chieh PSC holds
100%
Ltd. Director Chang, Hung-Shuo 1,000,000 shares
Supervisor An, Chi-Li
Chairman Kuo, Li-Yun
PSC Venture Capital Investment Director & President Lu, Mu-Sheng PSC holds
100%
Company Limited Director Hou, James 30,000,000 shares
Supervisor Huang, Ya-Ping
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158

2024 Annual Report

VI. Other Disclosures

4. Operational Highlights of Affiliated Companies

As of December 31, 2024 Unit: NT$ thousands

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

Operating Net
Total Total Total Operating EPS
Company Capital Income Income
Assets Liabilities Equity Revenue ($)
(Loss) (Loss)
President Futures
660,000 42,533,854 39,376,316 3,157,538 833,144 (172,684) 415,399 6.29
Co., Ltd
President Capital
300,000 344,983 52,103 292,880 80,844 (22,390) (19,593) (0.65)
Management Corp.
President Insurance
10,000 136,241 46,805 89,436 187,925 71,288 65,737 65.74
Agency Co., Ltd.
PSC Venture Capital
Investment Company 300,000 253,307 7,299 252,008 14,552 5,535 5,798 0.19
Limited
President Securities
(Hong Kong) 813,157 885,946 1,673 844,273 256,480 (18,966) 13,174 0.07
Limited
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Note: Foreign exchange rates:

HKD/NTD (2024 average) = 4.1167 ; HKD/NTD (end of 2024) = 4.2220

B. Consolidated Financial Statements of Affiliated Companies

In 2024, in accordance with Article 33 of Regulations Governing the Preparation of Financial Reports by Securities Firms and Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises, the companies that shall be included in the preparation of the consolidated financial statements of affiliated companies were the same as the companies that shall be included in the consolidated financial statements of the parent company and subsidiaries in accordance with the International Financial Reporting Standards No. 10. Please refer to our Company’s website (Investor Relations / Financial Information / Financial Data) and the Market Observation Post System for the audited Consolidated Financial Statements of the Parent Company and Subsidiaries Certified by the CPAs for the Year of 2024.

C. Reports of Affiliation

Since the Company is a controlling company, it does not need to prepare such reports.

II. In the most recent year up to the publication date of this annual report, as for the private placement of marketable securities, the quantity approved by the shareholders’ meeting or the Board of Directors and the approval date, the basis for price determination and the reasonableness, the specific person selection method, and necessary reasons for the private placement shall be disclosed: None.
III. Status of the Achievement in Financial Forecasts for the Latest Two Years: Not Applicable.

159

President Securities Corporation

IV. Methods and Assumptions used for Evaluating Fair Value of Financial Instruments

A. The fair value of short-term financial instruments is evaluated at their book value since the effect of discounting is not significant. This method is applied to cash and cash equivalents, bonds purchased under resale agreements, margin loans receivable, refinancing guaranty deposits, receivable from refinance guaranty, receivables from security lending, security lending deposits, restricted assets, operation deposits, clearing and settlement fund, short-term loans, commercial paper payable, bonds sold under repurchase agreements, deposits on short sales, guarantee deposit received on borrowed securities, short sale proceeds payable, notes and accounts payable, collection for others, other payables (excluding income tax payable) and deposits received.
B. Financial instruments at fair value through profit and loss, when they are traded in active markets, their fair value are based on their quoted prices. If there are no quoted market prices which can be used as benchmarks, evaluating methods will be adopted to measure the fair value. Estimates and assumptions used in evaluating methods adopted by the Group are consistent with those adopted by market participants for financial instrument pricing.

Methods of evaluating fair value of financial instruments are as follows:

Equity Securities: Fair value refers to the closing prices as at the balance sheet. For open-ended funds, fair value refers to the net asset value of the fund as at the balance sheet.
Bonds: Government bonds and corporate bonds are based on the market prices derived from average bond yields published by the Taipei Exchange; foreign bonds are based on the transaction prices from Bloomberg.
Interest rate instruments: For IRS, interest rate quotations of CP with same durations in the same markets in the representative quotation system (e.g. Reuters) are used as reference interest rates. In addition, average bid/offer interest rates at certain point of time daily are used as interest rate parameters. Along with other parameters, they are then used in the valuation models to calculate fair value.
Futures: Closing prices of respective futures exchanges on that day.
Options: Closing prices of the exchanges of the options on that day.
Warrants: Closing prices of the instruments in the listed market.
Convertible Bond Asset Swap: Closing prices of the CB and of underlying shares in the listed exchanges are used as parameters along with others in the valuation model to calculate the fair value.
Structured instruments: Closing prices of underlying instruments or bond yields published by the Taipei Exchange are used as parameters along with others in the valuation models to calculate the fair value.
Other derivatives: For listed derivatives, fair value is based on the quoted prices. For unlisted ones, fair value is based on average bid or offer prices from quotation platforms or other quoted prices.
C. For financial assets at fair value through other comprehensive income, if there are quoted prices in active markets, they are used as their fair value. If there are no quoted prices, a valuation methods are adopted to measure the fair value.

V. Hedge Accounting Applied to Financial Instruments: Not applicable.

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2024 Annual Report

VI. Other Disclosures

VI. Items That Should Be Included Pursuant to Regulations Governing the Preparation of Financial Reports by Securities Firms

A. Major Businesses
Acquisition or merger of other companies in the last 5 Years: None
Segmentation in the last 5 years: None
Investee companies:

Unit: NT$ thousands

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Investment Shares December 31, 2024
Investment Original Accounting
Investee Companies
Year Investment Equity of Treatment
Shares Percentage Book value
Investment
President Futures Co.,
1994-2007 $644,650 63,817,303 96.69% $3,053,127 $3,053,127
LTD
President Capital
1997-2019 326,000 30,000,000 100% 292,986 292,986
Management Corp.
President Securities
1994 848,735 192,600,000 100% 884,272 884,272
(Hong Kong) Limited
Uni-President
Asset Management 2000-2017 667,622 14,904,630 42.46% 969,373 790,001 Equity
Corporation Method
President Insurance
2008-2016 10,000 1,000,000 100% 89,460 89,460
Agency Co., Ltd.
PSC Venture Capital
Investment Company 2013 300,000 30,000,000 100% 252,014 252,014
Limited
Jin Yuan President
2020-2022 3,138,169 - 49% 2,641,462 2,641,462
Securities Limited
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  - Note 1: President Securities (Hong Kong) Limited was approved by the board of directors to deal with the dissolution and liquidation matters in March, 2022.

  - Note 2: President Securities Nominee Limited and President Wealth Management (Hong Kong) Limited were liquidated in January, 2024 and July, 2024, separately.

Adjustment in the last 5 years: None
Trading of material assets in the last 5 years:
(1) Asset purchase: No material assets purchased.
(2) Asset disposal: No material assets disposed.
Material change on operation or businesses: None
B. Information of full-time employees excluded from supervisory positions

Unit: NT$ thousands

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Year
Item 2024 2023 Difference
The number of full-time employees excluded from
1,384 1,358 26
supervisory positions
Average salary of full-time employees excluded from
$1,868 $1,449 $419
supervisory positions
Median salary of full-time employees excluded from
$1,209 $961 $248
supervisory positions
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161

President Securities Corporation

C. Important financial information
Financial Analysis

Year		Financial Summary for the last fve years (Note1)	Financial Summary for the last fve years (Note1)	Financial Summary for the last fve years (Note1)	Financial Summary for the last fve years (Note1)	Financial Summary for the last fve years (Note1)	Financial Summary for the last fve years (Note1)
Item		2020	2021	2022	2023		2024
Financial Structure (%) Debt Ratio Ratio of Long-term Capital to property and equipment	67.63 66.72 59.70 73.25 1,295.29 1,394.97 1,231.57 1,302.7					77.6 1,433.16
Solvency (%) Current Ratio Quick Ratio	129.52 131.46 139.21 123.04 129.48 131.42 139.13 122.99					118.33 118.3
Profitability Analysis Return on Total Assets (%) Return on Stockholders’ Equity (%) Pre-tax Income to Paid-in Capital (%) Proft Ratio (%) Earnings Per Share (NT$) (Note2)	4.44 4.38 1.02 3.7 12.86 13.12 2.38 9.32 28.05 31.82 6.27 21.43 42.58 37.88 13.83 33.17 2.58 2.75 0.5 1.98					4.03 12.99 32.97 36.37 3
Cash Flow (%) Cash Flow Ratio Cash Flow Adequacy Ratio Cash Reinvestment Ratio	12.60 1.17 16.36 - 465.96 335.38 272.35 180.25 21.46 - 14.86 -					- 159.67 -
Other Ratio (%) Debit to Equity Ratio 208.94 200.44 148.12 273.87 Ratio of Property and Equipment to Total Asset 3.07 2.97 4.10 2.65 Total Underwriting to Quick Assets Ratio 0.97 1.55 1.09 0.43 Total Margin Loan Balance to Equity Ratio 41.65 57.9 35.44 54.28 Total Short Sales Amount to Equity Ratio 6.15 4.92 6.09 3.63						346.43 2.06 0.36 62.16 4.84
Analysis of fnancial ratio diferences for the last two years (for variations above 20%) (1) Return on Stockholders’ Equity: Increased mainly due to the increase of net income in 2024 as compared to that in 2023. (2) Pre-tax Income to Paid-in Capital: Increased mainly due to the increase of pre-tax income in 2024 as compared to that in 2023. (3) Debit to Equity Ratio: Increased mainly due to the increase in short-term borrowings, commercial promissory notes payable, liabilities with repurchase bonds and accounts payable in 2024 compared with 2023. (4) Ratio of Property and Equipment to Total Asset: Increased mainly due to the increase of total asset in 2024 as compared to that in 2023. (5) Total Short Sales Amount to Equity Ratio:Increased mainly due to the increase of short sale proceeds payable in 2024 as compared to that in 2023.

Note 1: Financial information for the years of above-mentioned was audited and certified by CPAs.

Note 2: Earnings per share is calculated based on the number of shares that were adjusted retrospectively. The unit is NTD.

2.The Company and its affiliated enterprises have recently encountered challenges related to financial turnover, which have negatively impacted the Company’s financial condition: None

3. Risk management countermeasures

To ensure non-stop operation, it is important to strengthen the ability of emergency handling for the Company, to eliminate the risk impacts and resume normal operation. The Company has stipulated the Risk Management Rules that builds up the procedure for handing emergency tasks, which minimizes the damages by handling the problems in real time.

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2024 Annual Report

VI. Other Disclosures

Operational risks include critical changes in the market, abnormal working capital, and big loss in investment, which will impact company operation and causes losses. The Company has stipulated Countermeasures for Operational Risks, which includes processes and procedures to maintain normal operation of the Company.

VII. Other Necessary Supplement

A. KPI Performance Indicator

1. Capital Adequacy Ratio

Within the securities industry, a company’s capital adequacy rate is viewed as a key performance indicator. Many BIS regulations require that a securities firm has a minimum capital adequacy rate of 200% in order to be permitted to operate in many key business areas. As such, this level can be seen as an important benchmark in evaluating a securities firm’s business performance and risk management measures. As of March 2025, our capital adequacy rate stood at 323%, well above this key 200% level.

2. Market Share Rate

Market share of various business could be used for performance indicators. It could represent company’s weighted market share and perceptive of future trend, which help to analyze management performance. Our company’s Brokerage market share was 2.57% in 2024, ranked the 10th among domestic competitors. Average single branch market share was 0.10%, ranked the 6th among top 10 domestic competitors. Compared with other securities firms, our performance was more efficient and competitive. Currently our company continues to build comprehensive and personalized information platform to improve stability of electronic transactions and orders, train sales with multiple financial ability, hoping to create more profit for customers and company.

163

President Securities Corporation

VII. Occurrences of items that may give rises to substantial impact on shareholders’ interests and/or stock price as defined in NO.3-2 Article 36 of Securities and Exchange Law in the latest fiscal year including the days counting to the publication of the annual reports: None.

164

AI assistant

PSC — Annual Report 2024

52209_rns_2025-06-09_c265323c-a5e9-461a-8424-cc88ebbcea0b.pdf

2024 ANNUAL REPORT

Notice to readers

Table of Content

I. A Letter to Shareholders

Dear Shareholders,

II. Corporate Governance

I. Directors’, Supervisors’ and Managers’ Information

A. Directors

1. Information Regarding Directors

2. Major Shareholders of PSCʹs Institutional Shareholders

3. Professional qualifications and independence analysis of directors

1. Not an employee of the Company or any of its affiliates.

(2) Diversity and independence of the Boardof the Board:

 Diversity of the Board:

(1) Basic Conditions and Values: Gender, age, etc.

 Independence of the Board:

B. Information regarding directors, supervisors, management team and branch manager

C. Remuneration of Directors, Supervisors, President, Vice Presidents, and Chief Auditor

1. Remuneration of Directors

1.1 Remuneration of Directors (disclosing the name of each individual )

1.2 Remuneration of Directors (Independent Directors Included)

II. Corporate Governance

Range of remuneration for directors

2. Remuneration of the President, Vice Presidents, and Chief Auditor

D. Retired Chairman and President Reappointed as Securities Broker Consultants: None.

II. Corporate Governance

3. Procedures for determining remuneration:

4. The correlation between operating performance and future risks:

F. President’s, senior vice presidents’ and senior managers’ remuneration

II. Corporate Governance

II. Corporate Governance

II. Implementation of Corporate Governance

A. Board of Directors Meeting

II. Corporate Governance

II. Corporate Governance

Independent director attendance is detailed below:

B. Evaluation of the Board of Directors

C. Operations of the Audit Committee: Number of Meetings, Actual Attendance Rate of each Independent Director, and other mentionable items

II. Corporate Governance

Other mentionable items:

II. Corporate Governance

II. Corporate Governance

D. Corporate Governance Implementation Status and Deviations from “the Corporate Governance Best -Practice Principles for TWSE/TPEx Listed Companies”

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

Communication methods:

Communication methods:

Communication methods:

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

E. Composition, responsibilities, and operation of the Remuneration Committee

1. Information Regarding Remuneration Committee

II. Corporate Governance

2. Operations of the Remuneration Committee

F. Sustainable development and Deviations from “ Sustainable Development Best Practice Principles for TWSE/GTSM Listed Companies ”

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

II. Corporate Governance

G. Climate information about TWSE/TPEx listed companies

Expressly state the supervision and governance of climate-related risks and opportunities by the Board of Directors and management

Board of Directors

Sustainability and Strategic Development Committee

Risk Control Office

The Company executes the following through the Chief Risk Officer:

Sustainable Development Team

II. Corporate Governance

2. Expressly state how the identified climate risks and opportunities affect the enterprise’s business, strategies and finance (short-term, mid-term and longterm)

Climate Risk Identification

Identification of Climate Opportunities

PSC Annual Report 2024