PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY FINANCIAL
STATEMENTS AND INDEPENDENT AUDITORS'
REPORT
DECEMBER 31, 2025 AND 2024

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

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INDEPENDENT AUDITORS' REPORT TRANSLATED FROM CHINESE

PWCR25003644

To the Board of Directors and Shareholders of President Securities Corporation

Opinion

We have audited the accompanying parent company only balance sheets of President Securities Corporation (the "Company") as at December 31, 2025 and 2024, and the related parent company only statements of comprehensive income, of changes in equity and of cash flows for the years then ended and notes to the parent company only financial statements, including a summary of material accounting policies.

In our opinion, based on our audits and the report of other auditors (please refer to the Other matter section), the accompanying parent company only financial statements present fairly, in all material respects, the parent company only financial position of the Company as at December 31, 2025 and 2024, and its parent company only financial performance and its parent company only cash flows for the years then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms and Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants.

Basis for opinion

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

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Key audit matters

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

Key audit matter for the Company’s 2025 parent company only financial statements is stated as follows:

Fair value measurement of unlisted stocks without active market

Description

Please refer to Note 4(7) for the accounting policies on unlisted stocks without active market (shown as “financial assets at fair value through other comprehensive income”) and Note 5 for details of significant judgements, estimates and assumption uncertainty. As at December 31, 2025, the unlisted stocks without active market held by the Company totaled 476,383 thousand New Taiwan Dollars and were shown as “financial assets at fair value through other comprehensive income” (Level 3 fair value).

Due to the lack of an active market, the fair value of the unlisted stocks held by the Company was determined using the valuation method. Management commissioned experts to assist in measuring their fair value based on comparable listed companies using the market approach. The main assumption of market approach is calculated based on the latest related parameters of comparable listed companies in similar industries and considering discounts on market liquidity or risk particularity.

Above-mentioned estimation of fair value involves various assumptions and material unobservable inputs, which has high uncertainty and relies on the subjective judgment. Any changes in judgements and estimates may affect the ultimate result of accounting estimates and have an impact on the financial statements of the Company. Thus, we have included the fair value measurement of unlisted stocks without active market as a key audit matter in our audit.

How our audit addressed the matter

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

Obtained an understanding and assessed policy documents, internal control system, fair value measurement models and approval processes that are related to fair value measurement of unlisted stocks;
Ascertained whether the measurement methods used are commonly adopted in the industry;
Assessed the reasonableness of parameters used by similar companies;
Examined inputs and calculation formulas used in valuation methods and agreed such data to supporting documents.

Other matter – Reference to the audits of other auditors

We did not audit the financial statements of certain investments accounted for under the equity method which were audited by other auditors. Therefore, our opinion expressed herein, insofar as it relates to the amounts included in respect of these associates, is based solely on the report of the other auditors. As at December 31, 2025 and 2024, the balance of these investments accounted for under the equity method amounted to 2,638,949 thousand and 2,641,462 thousand New Taiwan Dollars, constituting 1.25% and 1.68% of the parent company only total assets, respectively. For the years ended December 31, 2025 and 2024, the comprehensive income (loss) recognized from associates and joint ventures accounted for under the equity method amounted to (12,642) thousand and (65,206) thousand New Taiwan Dollars, constituting (0.23%) and (1.26%) the parent company only total comprehensive income (loss), respectively.

Responsibilities of management and those charged with governance for the parent company only financial statements

Management is responsible for the preparation and fair presentation of the parent company only financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Firms, Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants, and for such internal control as management determines is necessary to enable the preparation of parent company only financial statement that are free from material misstatement, whether due to fraud or error.

In preparing the parent company only financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless

management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditors’ responsibilities for the audit of the parent company only financial statements

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

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

Identify and assess the risks of material misstatement of the parent company only financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the parent

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company only financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the parent company only financial statements, including the disclosures, and whether the parent company only financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the parent company only financial statements. We are responsible for the direction, supervision and performance of the parent company only audit. We remain solely responsible for our audit opinion.

(Blank below)

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

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

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

Wang, Fang-Yu

Independent Auditors

Kuo, Puo-Ju

For and on behalf of PricewaterhouseCoopers, Taiwan

March 2, 2026

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

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

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PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

Assets	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
110000	Current assets
111100	Cash and cash equivalents	6(1)	$ 4,724,389	2	$ 5,019,258	3
112000	Financial assets at fair value through profit or loss - current	6(2)	88,010,951	42	60,843,659	39
113200	Financial assets at fair value through other comprehensive income - current	6(3)	9,344,789	5	4,495,890	3
114010	Bonds purchased under resale agreements	6(4)	122,203	-	-	-
114030	Margin loans receivable	6(5)	24,000,905	11	21,935,917	14
114040	Refinancing security deposits		907	-	6,647	-
114050	Receivables from refinance guaranty		748	-	5,513	-
114060	Receivable of securities business money lending	6(6)	21,733,143	10	18,600,130	12
114090	Receivables from security lending		437,369	-	402,885	-
114100	Security lending deposits		405,410	-	374,439	-
114110	Notes receivable		297	-	338	-
114130	Accounts receivable	6(7)	42,658,685	20	29,461,926	19
114140	Accounts receivable - related parties	6(7)	4,071	-	3,311	-
114150	Prepayments		57,067	-	32,810	-
114170	Other receivables	6(8)	16,462	-	18,039	-
114600	Current tax assets	6(49)	104,557	-	-	-
119000	Other current assets	6(9)	5,466,888	3	3,180,519	2
110000	Total current assets		197,088,841	93	144,381,281	92
120000	Non-current assets
122000	Financial assets at fair value through profit or loss - non-current	6(2)	49,841	-	51,171	-
123200	Financial assets at fair value through other comprehensive income - non-current	6(3)	476,383	-	412,862	-
124100	Investments accounted for under the equity method	6(12)	9,232,834	5	8,182,694	5
125000	Property and equipment, net	6(13)	2,499,415	1	2,462,308	2
125800	Right-of-use assets	6(14)	221,767	-	212,777	-
126000	Investment property	6(16)	181,308	-	182,731	-
127000	Intangible assets	6(17)	197,773	-	227,109	-
128000	Deferred tax assets	6(49)	173,020	-	131,659	-
129000	Other assets - non-current	6(18)	1,434,735	1	1,296,191	1
120000	Total non-current assets		14,467,076	7	13,159,502	8
906001	Total Assets		$ 211,555,917	100	$ 157,540,783	100

(Continued)

PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

Liabilities and Equity	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
210000	Current liabilities
211100	Short-term loans	6(19)	$ 8,090,110	4	$ 8,804,220	5
211200	Commercial papers payable	6(20)	42,004,630	20	32,969,815	21
212000	Financial liabilities at fair value through profit or loss - current	6(21)	17,913,603	9	13,535,710	9
214010	Bonds sold under repurchase agreements	6(22)	31,211,042	15	15,589,881	10
214040	Deposits on short sales		996,767	-	1,208,692	1
214050	Short sale proceeds payable		1,498,628	1	1,707,090	1
214070	Guarantee deposit received on borrowed securities		2,843,190	1	973,576	1
214090	Equity for each customer in the account		4,403,289	2	1,982,997	1
214130	Accounts payable	6(23)	41,638,107	20	27,431,166	17
214150	Advance receipts		13	-	1,658	-
214160	Collections on behalf of third parties		688,069	-	955,543	1
214170	Other payables	6(24)	2,951,388	1	2,636,299	2
214200	Other financial liabilities - current	6(25)	11,384,006	5	13,801,583	9
214600	Current tax liability	6(49)	72,259	-	277,983	-
216000	Current lease liabilities		71,705	-	67,716	-
219000	Other current liabilities		76,401	-	74,132	-
210000	Total current liabilities		165,843,207	78	122,018,061	78
220000	Non-current liabilities
221210	Long-term borrowings	6(26)	6,000,000	3	-	-
225100	Non-current provisions		24,033	-	15,585	-
226000	Non-current lease liabilities		143,485	-	143,956	-
228000	Deferred tax liability	6(49)	216,899	-	19,468	-
229000	Other liabilities - non-current	6(27)	25,675	-	54,808	-
220000	Total non-current liabilities		6,410,092	3	233,817	-
906003	Total Liabilities		172,253,299	81	122,251,878	78
301000	Capital
301010	Common stock	6(29)	16,014,145	8	14,558,313	9
302000	Capital reserve	6(29)	91,201	-	91,261	-
304000	Retained earnings	6(29)(30)
304010	Legal reserve		4,671,304	2	4,233,889	3
304020	Special reserve		10,677,898	5	9,803,068	6
304040	Unappropriated earnings		4,825,951	2	4,381,105	3
305000	Other equity interest		3,022,119	2	2,221,269	1
906004	Total equity		39,302,618	19	35,288,905	22
906002	Total liabilities and equity		$ 211,555,917	100	$ 157,540,783	100

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

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

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
400000	Revenues
401000	Brokerage handling fee revenue	6(31)	$ 4,023,142	32	$ 3,810,592	32
404000	Revenues from underwriting business	6(32)	167,352	1	116,587	1
406000	Net gain (loss) on wealth management		79,338	1	80,191	1
410000	Net gain (loss) on sale of trading securities	6(33)	4,065,326	32	7,977,445	66
421100	Revenue from providing agency service for stock affairs		98,318	1	95,951	1
421200	Interest revenue	6(34)	2,582,824	21	2,221,737	19
421300	Dividend revenue		663,801	5	847,195	7
421500	Net valuation gain (loss) on operating securities at fair value through profit or loss	6(35)
			3,339,701	27 (	944,760) (	8)
421600	Net gain (loss) on covering of borrowed securities and bonds with resale agreements-short sales	6(36)
			(3,895,919) (	31) (	845,728) (	7)
421610	Net valuation gain (loss) on borrowed securities and bonds with resale agreements-short sales at fair value through profit or loss	6(37)
			(538,714) (	4)	149,246	1
421750	Net realized gain (loss) on financial liabilities measured at fair value through other comprehensive income	6(38)
			41,564	- (	63,620)	-
422000	Net gain (loss) on issuance of ETNs		(126,880) (	1) (	82,053) (	1)
422100	Administrative and handling fee revenues from issuance of ETNs		4,316	-	5,517	-
422200	Net gain (loss) from issuance of call (put) warrants	6(39)
			(498,258) (	4) (	65,805) (	1)
424100	Future commission revenue		35,262	-	35,610	-
424400	Net gain (loss) from derivatives	6(40)	2,193,564	18 (	2,306,359) (	19)
425300	Expected credit impairment loss and reversal of impairment gain	6(41)
			17,369	-	22,193	-
428000	Other operating income	6(42)	263,161	2	970,599	8
	Total revenue		12,515,267	100	12,024,538	100
500000	Expenditures and expenses
501000/
502000/
503000	Handling charges	6(43)	(607,712) (	5) (	577,434) (	5)
507000	ETNs administrative expenses		(6,931)	- (	9,030)	-
521200	Financial costs	6(44)	(1,683,159) (	13) (	1,516,836) (	12)
524200	Securities commission expense		(3,530)	- (	109)	-
524300	Expense of clearing and settlement		(22,193)	- (	24,769)	-
528000	Other operating expenditure		(1,614)	- (	6,678)	-
531000	Employee benefits expense	6(45)	(3,861,127) (	31) (	3,616,061) (	30)
532000	Depreciation and amortization	6(46)	(353,831) (	3) (	318,328) (	3)
533000	Other operating expense	6(47)	(2,243,293) (	18) (	2,170,821) (	18)
	Total expenditure and expense		(8,783,390) (	70) (	8,240,066) (	68)
	Operating profit		3,731,877	30	3,784,472	32
601100	Share of the profit or loss of associates and joint ventures accounted for under the equity method	6(12)
			1,145,257	9	772,602	6
602000	Other gains and losses	6(48)	269,884	2	243,115	2
902001	Profit before tax		5,147,018	41	4,800,189	40
701000	Income tax (expense) benefit	6(49)	(342,592) (	3) (	427,135) (	4)
902005	Net income		$ 4,804,426	38	$ 4,373,054	36

(Continued)

PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except earnings per share)

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
	Other comprehensive income
	Components of other comprehensive income that will not be reclassified to profit or loss
805510	Gain (loss) on remeasurements of defined benefit plan		($4,959)	-	($7,490)	-
805540	Net unrealised gain (loss) from investments in equity instruments at fair value through other comprehensive income		520,122	4	443,412	4
805560	Other comprehensive income (loss) of subsidiaries, associates, and joint ventures accounted for under the equity method - not reclassified to profit or loss		199,271	2	197,476	2
805599	Income tax (expense) benefit relating to components of other comprehensive income that will not be reclassified to profit or loss		992	-	1,498	-
	Items may be reclassified to profit or loss subsequently
805610	Translation gain (loss) on the financial statements of foreign operating entities		(26,417)	-	156,716	1
805615	Net unrealised gain (loss) from investments in debt instruments at fair value through other comprehensive income		150,016	1	(3,556)	-
805699	Income tax related to components of other comprehensive income that will be reclassified to profit or loss		(28,264)	-	-	-
805000	Current other comprehensive income (loss) (post-tax)		$810,761	7	$788,056	7
902006	Total current comprehensive income (loss)		$5,615,187	45	$5,161,110	43
	Earnings per share	6(50)
975000	Basic earnings (loss) per share (in dollars)		$	3.00	$	2.73
985000	Diluted earnings (loss) per share (in dollars)		$	2.99	$	2.72

The accompanying notes are an integral part of these parent company only financial statements.

(PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

PRESIDENT SECURITIES CORPORATION
PARENT COMPANY ONLY STATEMENTS OF CHANGES IN EQUITY
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

	Notes	Common stock	Capital reserve	Retained Earnings			Other equity interest		Total equity
				Legal reserve	Special reserve	Unappropriated earnings	Exchange differences on translation of foreign financial statements	Unrealised gains (losses) on financial assets measured at fair value through other comprehensive income
For the year ended December 31, 2024
Balance at January 1, 2024		$ 14,558,313	$ 91,261	$ 3,959,127	$ 9,253,546	$ 2,752,936	$ 43,973	$ 1,390,336	$ 32,049,492
Net income for the year		-	-	-	-	4,373,054	-	-	4,373,054
Other comprehensive income (loss) for the year		-	-	-	-	1,096	156,716	630,244	788,056
Total comprehensive income (loss)		-	-	-	-	4,374,150	156,716	630,244	5,161,110
Appropriations of 2023 earnings	6(30)
Legal reserve		-	-	274,762	-	(274,762)	-	-	-
Special reserve		-	-	-	549,522	(549,522)	-	-	-
Cash dividends		-	-	-	-	(1,921,697)	-	-	(1,921,697)
Balance at December 31, 2024		$ 14,558,313	$ 91,261	$ 4,233,889	$ 9,803,068	$ 4,381,105	$ 200,689	$ 2,020,580	$ 35,288,905
For the year ended December 31, 2025
Balance at January 1, 2025		$ 14,558,313	$ 91,261	$ 4,233,889	$ 9,803,068	$ 4,381,105	$ 200,689	$ 2,020,580	$ 35,288,905
Net income for the year		-	-	-	-	4,804,426	-	-	4,804,426
Other comprehensive income (loss) for the year		-	-	-	-	(3,097)	(26,417)	840,275	810,761
Total comprehensive income (loss)		-	-	-	-	4,801,329	(26,417)	840,275	5,615,187
Appropriations of 2024 earnings	6(30)
Legal reserve		-	-	437,415	-	(437,415)	-	-	-
Special reserve		-	-	-	874,830	(874,830)	-	-	-
Cash dividends		-	-	-	-	(1,601,414)	-	-	(1,601,414)
Stock dividends		1,455,832	-	-	-	(1,455,832)	-	-	-
Changes in ownership interest in subsidiaries		-	(60)	-	-	8,761	-	(8,761)	(60)
Disposal of equity instruments at fair value through other comprehensive income		-	-	-	-	4,247	-	(4,247)	-
Balance at December 31, 2025		$ 16,014,145	$ 91,201	$ 4,671,304	$ 10,677,898	$ 4,825,951	$ 174,272	$ 2,847,847	$ 39,302,618

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

	Notes	Year ended December 31
		2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax		$ 5,147,018	$ 4,800,189
Adjustments
Adjustments to reconcile profit (loss)
Net valuation (gain) loss on operating securities at fair value through profit or loss	6(2)(35)
Net valuation (gain) loss on borrowed securities and bonds with resale agreements-short sales at fair value through profit or loss	6(37)	( 3,339,701 )	944,760
Expected credit impairment loss and reversal of impairment gain	6(41)	538,714	( 149,246 )
Depreciation	6(46)	( 13,916 )	( 15,150 )
Amortization	6(46)	261,320	233,449
Financial expense	6(44)	92,511	84,879
Interest income (include financial income)	6(34)(48)	( 1,683,159 )	1,516,836
Dividend income		( 2,682,204 )	( 2,301,131 )
Share of profit of subsidiaries, associates and joint ventures accounted for under the equity method	6(12)	( 677,258 )	860,463 )
(Gain) loss on disposal of property and equipment	6(13)	( 1,145,257 )	( 772,602 )
(Gain) loss from lease modification		( 322 )	-
(Gain) loss on valuation of non-operating financial instruments	6(48)	( 31 )	( 51 )
Changes in operating assets and liabilities		( 12,934 )	13,669
Changes in operating assets
Financial assets at fair value through profit or loss		( 23,810,903 )	( 8,604,183 )
Financial assets at fair value through other comprehensive income		( 4,384,234 )	( 882,770 )
Bonds purchased under resale agreements		( 122,203 )	-
Margin loans receivable		( 2,051,561 )	( 4,521,636 )
Refinancing security deposits		5,740	( 4,665 )
Receivables from refinance guaranty		4,765	( 4,037 )
Receivable of securities business money lending		( 3,133,392 )	( 9,352,961 )
Receivables from security lending		34,484	48,512
Security lending deposits		30,971	101,266
Notes receivable		41	1,137
Accounts receivable		( 13,247,453 )	( 9,998,944 )
Accounts receivable - related parties		760	885
Prepayments		24,257	11,437
Other receivables		1,050	1,289
Other current assets		( 2,286,369 )	( 1,446,527 )
Changes in operating liabilities
Financial liabilities at fair value through profit or loss		3,839,179	3,221,128
Bonds sold under repurchase agreements		15,621,161	( 3,550,625 )
Deposits on short sales		( 211,925 )	287,599
Short sale proceeds payable		( 208,462 )	543,586
Guarantee deposit received on borrowed securities		1,869,614	( 658,432 )
Equity for each customer in the account		2,420,292	1,122,787
Accounts payable		14,174,282	10,372,715
Advance receipts		( 1,645 )	1,537
Collections on behalf of third parties		( 267,474 )	342,646
Other payable		303,297	557,348
Other financial liabilities - current		( 2,417,577 )	8,577,564
Other current liabilities		2,269	( 2,075 )

(Continued)

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

(Expressed in thousands of New Taiwan dollars)

	Notes	Year ended December 31
		2025	2024
Cash outflow generated from operations		($ 14,140,237)	($ 10,340,280)
Interest received		2,703,153	1,948,793
Dividends received		1,400,501	1,329,522
Income tax paid		( 524,075)	( 381,393)
Net cash flows used in operating activities		( 10,560,658)	( 7,443,358)
CASH FLOWS FROM INVESTING ACTIVITIES
Investments accounted for under the equity method	6(12)	( 453,706)	-
Acquisition of property and equipment	6(13)	( 101,826)	( 85,410)
Acquisition of intangible assets	6(17)	( 13,444)	( 18,252)
(Increase) decrease in other non-current assets		( 166,659)	( 276,220)
Increase in prepayment for equipment		( 141,454)	( 153,423)
Net cash flows used in investing activities		( 877,089)	( 533,305)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term loans		( 714,110)	1,859,461
Increase (decrease) in commercial papers payable		9,040,000	11,860,000
Proceeds from long-term borrowings		6,000,000	-
Increase (decrease) in other non-current liabilities		( 30,420)	( 33,828)
Payments of lease liabilities		( 76,479)	( 71,334)
Interest paid		( 1,590,648)	( 1,561,249)
Distribution of cash dividends	6(30)	( 1,601,414)	( 1,921,697)
Net cash flows from financing activities		11,026,929	10,131,353
Effect of exchange rate changes		115,949	( 193,072)
Net (decrease) increase in cash and cash equivalents		( 294,869)	1,961,618
Cash and cash equivalents at beginning of year		5,019,258	3,057,640
Cash and cash equivalents at end of year		$ 4,724,389	$ 5,019,258

The accompanying notes are an integral part of these parent company only financial statements.

PRESIDENT SECURITIES CORPORATION
NOTES TO THE PARENT COMPANY ONLY FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

HISTORY AND ORGANIZATION

1) President Securities Corporation (the “Company”) was incorporated as a company limited by shares under the provisions of the Company Law of the Republic of China (R.O.C.) on December 17, 1988 and was renamed as President Securities Corporation on March 4, 1989. The Company started commercial operations on April 3, 1989. As of December 31, 2025, the Company had 31 operating branches (including the Head Office) and established Offshore Securities Unit in July 2014.

2) The Company is primarily engaged in underwriting of securities, dealing or brokerage business of securities at the securities exchange markets and business premises, registration and transfer agency service for securities, margin loans and short sales business of securities, securities lending and borrowing business, futures introducing brokerage services, futures dealing, issuance of call (put) warrants, new financial instrument transactions, wealth management business, and trust business.

3) The Company’s shares are listed on the Taiwan Stock Exchange.

4) The number of employees of the Company were 1,610 and 1,516, as of December 31, 2025 and 2024, respectively.

THE DATE OF AUTHORIZATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORIZATION

These parent company only financial statements were authorized for issuance by the Board of Directors on March 2, 2026.

APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS

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

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

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

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

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2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but not yet adopted by the Company

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

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

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

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

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

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

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

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

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

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

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

1) Compliance statement

The financial statements of the Company have been prepared in accordance with the “Regulations Governing the Preparation of Financial Reports by Securities Firms” and “Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants”.

2) Basis of preparation

A. Except for the following items, these financial statements have been prepared under the historical cost convention:
(A) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.
(B) Financial assets at fair value through other comprehensive income.
(C) Defined benefit assets or liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligations.

B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC® Interpretations, and SIC® Interpretation that came into effect as endorsed by the FSC (collectively referred herein as the “IFRSs”) requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 5.

3) Classification of current and non-current items

A. Assets that meet one of the following criteria are classified as current assets; otherwise they are classified as non-current assets:
(A) Assets arising from operating activities that are expected to be realized, or are intended to be sold or consumed within the normal operating cycle;
(B) Assets held mainly for trading purposes;
(C) Assets that are expected to be realized within twelve months after the reporting period;

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(D) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to pay off liabilities more than twelve months after the reporting period.

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

(A) Liabilities that are expected to be paid off within the normal operating cycle;
(B) Liabilities arising mainly from trading activities;
(C) Liabilities that are to be paid off within twelve months after the reporting period;
(D) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

4) Translation of foreign currency transactions

A. Foreign currency translation and presentation

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency"). Functional currency and bookkeeping currency of the Company is New Taiwan Dollars.

B. Foreign currency transactions and balances

Foreign currency transactions denominated in a foreign currency or required to settle in a foreign currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions.

Assets and liabilities denominated in foreign currency are translated by the closing exchange rate at balance sheet date. The closing exchange rate is determined by the market exchange rate. Non-monetary assets and liabilities denominated in foreign currencies which are carried at historical cost are re-translated at the exchange rates prevailing at the original transaction date. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through profit or loss are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognized in profit or loss. Non-monetary assets and liabilities denominated in foreign currencies held at fair value through other comprehensive income are re-translated at the exchange rates prevailing at the balance sheet date; their translation differences are recognized in other comprehensive income.

C. Translation of foreign operations

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

(A) Assets and liabilities for each balance sheet presented are translated at the closing exchange rate at the date of that balance sheet;
(B) Income and expenses for each statement of comprehensive income are translated at

~18~

average exchange rates of that period; and

5) Cash and cash equivalents

A. In the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with banks, and other short-term highly liquid investments.

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

6) Financial assets at fair value through profit or loss

A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortized cost or fair value through other comprehensive income.

B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognized and derecognized using trade date accounting.

C. At initial recognition, the Company measures the financial assets at fair value and recognizes the transaction costs in profit or loss. The Company subsequently measures the financial assets at fair value and recognizes the gain or loss in profit or loss.

D. The Company recognizes the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Company and the amount of the dividend can be measured reliably.

7) Financial assets at fair value through other comprehensive income

A. Financial assets at fair value through other comprehensive income comprise equity securities which are not held for trading, and for which the Company has made an irrevocable election at initial recognition to recognize changes in fair value in other comprehensive income and debt instruments which meet all of the following criteria:

(A) The objective of the Company's business model is achieved both by collecting contractual cash flows and selling financial assets; and

(B) The assets' contractual cash flows represent solely payments of principal and interest.

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

C. At initial recognition, the Company measures the financial assets at fair value plus transaction costs. The Company subsequently measures the financial assets at fair value:

(A) The changes in fair value of equity investments that were recognized in other comprehensive income are reclassified to retained earnings and are not reclassified to profit or loss following the derecognition of the investment. Dividends are recognized as revenue when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Company and the

~19~

amount of the dividend can be measured reliably.

(B) Except for the recognition of impairment loss, interest income and gain or loss on foreign exchange which are recognized in profit or loss, the changes in fair value of debt instruments are taken through other comprehensive income. When the financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss.

8) Notes and accounts receivable, other receivables and margin loans receivable

A. Accounts and notes receivable and margin loans receivables entitle the Company a legal right to receive consideration in exchange for transferred goods or rendered services.

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

9) Bonds sold under repurchase agreements and bonds purchased under resale agreements

Bond transactions under repurchase or resale agreements are stated at the amount of actual payment or receipt. When transactions of bonds with a condition of resale agreements occur, the actual payment or receipt shall be recognized in ‘bonds purchased under resale agreements’ under current assets. When transactions of bonds with a condition of repurchase agreements occur, the actual payment or receipt shall be recognized in ‘bonds sold under repurchase agreements’ under current liabilities. Any difference between the actual payment/receipt and predetermined redemption (repurchase) price is recognized in interest income or interest expense.

10) Impairment of financial assets

For debt instruments measured at fair value through other comprehensive income, at each reporting date, the Company recognizes the impairment provision for 12 months expected credit losses if there has not been a significant increase in credit risk since initial recognition or recognizes the impairment provision for the lifetime expected credit losses (ECLs) if such credit risk has increased since initial recognition after taking into consideration all reasonable and verifiable information that includes forecasts. On the other hand, for accounts receivable or contract assets that do not contain a significant financing component, the Company recognizes the impairment provision for lifetime ECLs.

11) Derecognition of financial instruments

A. Derecognition of financial assets

The Company derecognizes a financial asset when one of the following conditions is met:

(A) The contractual rights to receive cash flows from the financial asset expire.

(B) The contractual rights to receive cash flows from the financial asset have been transferred and the Company has transferred substantially all risks and rewards of

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ownership of the financial asset.

(C) The contractual rights to receive cash flows of the financial asset have been transferred; however, the Company has not retained control of the financial asset.

B. Derecognition of financial liabilities

A financial liability is derecognized when the obligation under the liability specified in the contract is discharged or cancelled or expires.

12) Offsetting financial instruments

Financial assets and liabilities are offset and reported in the net amount in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.

13) Investments accounted for under the equity method/Subsidiaries and associates

A. Subsidiaries are all entities (including structured entities) controlled by the Company. The Company controls an entity when the Company is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Investments in subsidiaries are accounted for using the equity method and are initially recognized at cost.

B. Unrealized gains on transactions between the Company and its subsidiaries are eliminated to the extent of the Company's interest in the subsidiaries. Accounting policies of subsidiaries have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

C. The Company's share of its subsidiaries' post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income. When the Company's share of losses in a subsidiary equals or exceeds its interest in the subsidiary, including any other unsecured receivables, the Company does not recognize further losses.

D. Associates are all entities over which the Company has significant influence but not control. In general, it is presumed that the investor has significant influence, if an investor holds, directly or indirectly 20 percent or more of the voting power of the investee. Investments in associates are accounted for using the equity method and are initially recognized at cost.

E. The Company's share of its associates' post-acquisition profits or losses is recognized in profit or loss, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income. When the Company's share of losses in an associate equals or exceeds its interest in the associate, including any other

~21~

unsecured receivables, the Company does not recognize further losses, unless it has incurred statutory/constructive obligations or made payments on behalf of the associate.

F. When changes in an associate’s equity that are not recognized in profit or loss or other comprehensive income of the associate and such changes not affecting the Company’s ownership percentage of the associate, the Company recognizes all changes in equity of the associate in ‘capital surplus’ in proportion to its ownership.

G. Unrealized gains on transactions between the Company and its associates are eliminated to the extent of the Company’s interest in the associates. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been adjusted where necessary to ensure consistency with the policies adopted by the Company.

H. According to "Regulations Governing the Preparation of Financial Reports by Securities Firms", the profit or loss for the period and other comprehensive income presented in parent company only financial reports shall be the same as the allocations of profit or loss for the period and of other comprehensive income attributable to owners of the parent presented in the financial reports prepared on a consolidated basis, and the owners' equity presented in the parent company only financial reports shall be the same as the equity attributable to owners of the parent presented in the financial reports prepared on a consolidated basis.

I. When there are objective evidences of impairment, at balance sheet date, the Company considers the whole investment carrying amount as single asset, and compares its recoverable amount (value in use or fair value less costs of disposal) with the carrying amount, to test its impairment. Value in use is determined by the present value of the Company’s share of the expected future cash flow from the associates. If the recoverable amount is less than its carrying amount, an impairment loss should be recognized. The loss will not be allocated to any of the components (including goodwill), which comprise the carrying amount of the investment. An impairment loss recognized in prior periods shall be reversed if circumstances of impairment no longer exist or have decreased.

14) Property and equipment

A. Property and equipment are initially recorded at cost. Borrowing costs incurred during the construction period are capitalized.

B. Subsequent costs are included in the asset’s carrying amount or recognized as a separate

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asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred.

C. Land is not depreciated. Other property and equipment are subsequently measured using the cost model and depreciated using the straight-line method to allocate their cost over their estimated useful lives.

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

Buildings	Useful lives
Buildings	5~50 years
Equipment	3~10 years
Leasehold improvements	5 years

E. When an asset is sold or retired, the cost and accumulated depreciation are removed from the respective accounts and the resulting gain or loss is included in current operations.

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

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

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

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

~23~

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

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

16) Investment property

A. Investment property of the Company is the property held either to earn long-term rental income or for capital appreciation or for both.

B. Part of the property may be held by the Company for self-use purpose and the remaining are used to generate rental income or capital appreciation. If the property held by the Company can be sold individually, then the accounting treatment should be made respectively. If each part of the property cannot be sold individually and the self-use proportion is not material, then the property is deemed as investment property in its entirety.

C. When the future economic benefit related to the investment property is highly likely to flow into the Company and the costs can be reliably measured, the investment property shall be recognized as assets. When the future economic benefit generated from subsequent costs is highly likely to flow into the entity and the costs can be reliably measured, the subsequent expenses of the assets shall be capitalized. All maintenance costs are recognized in profit or loss as incurred.

D. Investment property is subsequently measured using the cost model. Depreciated cost is used to calculate amortization expense after initial measurement. The depreciation method, remaining useful life and residual value should apply the same rules as applicable for property and equipment.

17) Intangible assets

A. The cost of computer software is amortized using the straight-line method over the useful lives based on acquisition cost, with an amortization period of 4 years.

B. In accordance with IFRS 3 'Business combinations' as endorsed by FSC, goodwill arises when the acquisition cost exceeds the fair value of identifiable assets and liabilities of the consolidated subsidiary on the consolidation date. The goodwill arising from the consolidated subsidiary is included in the intangible asset. Goodwill is tested annually for impairment and any impairment loss will be recognized when impairment occurs. Impairment losses on goodwill are not reversed.

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18) Impairment of non-financial assets

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

B. The recoverable amounts of goodwill, intangible assets with an indefinite useful life and intangible assets that have not yet been available for use are evaluated periodically. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. Impairment loss of goodwill previously recognized in profit or loss shall not be reversed in the following years.

C. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units, or groups of cash-generating units, that is expected to benefit from the synergies of the business combination. Each unit or group of units to which the goodwill is allocated represents the lowest level within the entity at which the goodwill is monitored for internal management purposes. Goodwill is monitored at the operating segment level.

19) Financial liabilities at fair value through profit or loss

A. Financial liabilities are classified in this category of held for trading if acquired principally for the purpose of repurchasing in the short-term. Derivatives are also categorized as financial liabilities held for trading unless they are designated as hedges.

B. At initial recognition, the Group measures the financial liabilities at fair value. All related transaction costs are recognized in profit or loss. The Group subsequently measures these financial liabilities at fair value with any gain or loss recognized in profit or loss.

20) Contingent liabilities

Contingent liability is a possible obligation that arises from past event, whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company. Or it could be a present obligation as a result of past event but the payment is not probable or the amount cannot be measured reliably. The Company did not recognize any contingent liabilities but made appropriate disclosure in compliance with relevant regulations.

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21) Employee benefits

A. Short-term employee benefits

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

B. Termination benefits

Termination benefits are employee benefits provided in exchange for the termination of employment as a result from either the Company’s decision to terminate an employee’s employment before the normal retirement date, or an employee’s decision to accept an offer of redundancy benefits in exchange for the termination of employee. The Company recognized expense as it can no longer withdraw an offer of termination benefit or it recognizes relating restructuring costs, whichever is earlier. Benefits that are expected to be due more than 12 months after balance sheet date shall be discounted to their present value.

C. Pensions

(A) Defined contribution plans

Effective July 1, 2005, the Company established the defined contribution plan for employees of R.O.C. nationality. The employees have the option to participate in the New Plan. Under the New Plan, the Company contributes monthly an amount equivalent to fixed ratio of employees’ salaries to the employees’ personal pension accounts with the “Bureau of Labor Insurance”. Benefits accrued under the New Plan are portable upon termination of employment. Net defined benefit asset can only be recognized when there is a cash refund or elimination in the future accrued pension liabilities.

(B) Defined benefit plans

a. In a defined benefit plan, the pension paid is determined based on the amount that an employee shall receive upon retirement, which could vary with age, work seniority and salary compensations. The Company recognizes the accrued pension obligations in the balance sheet based on the net amount of actuarial present value of defined benefit obligation less the fair value of fund, which is adjusted with the net of past service cost recognized as liabilities. Defined benefit obligation is assessed annually using projected unit credit method by the actuary. The present value of the defined benefit obligation is determined using the market yield of government bonds of a currency and term consistent with the currency and term of the employment benefit obligations.

b. Remeasurement arising on defined benefit plans are recognized in other comprehensive income in the period in which they arise and are recorded as retained earnings.

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D. Employees' remuneration and directors' remuneration

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

22) Revenues and expenses

The Company's revenues and expenses mainly include:

A. Gains (losses) on sale of securities, securities brokerage fees, and commissions on brokerage and trading are recognized on the transaction date.

B. Underwriting fees and related service charges: application fees are recognized upon collection; underwriting fees and service charges are recognized when the contract is completed.

C. Gains (losses) on futures contracts: The margin of futures transaction is recognized as cost. Costs and expenses are recognized as incurred.

D. Operating expenses: operating expenses refer to required expenses invested in the Company's operations, which primarily include employee benefit expense, depreciation and amortization, and other business and administrative expenses.

23) Income tax

A. Current income tax

Income tax payable (refundable) is calculated on the basis of the tax laws enacted in the countries where a company operates and generates taxable income. Except for the transactions or other matters directly recognized in other comprehensive income or equity, in which cases the related income taxes in the period are recognized in other comprehensive income or directly derecognized from equity, all the others should be recognized as income or expense for the period.

B. Deferred income tax

Deferred income tax assets and liabilities are measured based on the tax rate of the anticipated period that the future assets realization or the liabilities settlement requires, which is based on the effective or existing tax rate at the balance sheet date. The carrying amounts and temporary differences of assets and liabilities included in the balance sheet are calculated using the liability method and recognized as deferred income tax. However, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit (loss) and does not give rise to equal taxable and deductible temporary differences. Deferred income tax assets are recognized only to the extent that it is probable that taxable profit will be available against which the deductible temporary differences can be utilized. If the future taxable

~27~

income is probable to provide unused loss carryforwards or deferred income tax credit which can be realized in the future, the proportion of realization is deemed as deferred income tax asset.

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

D. Current income tax assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Deferred income tax assets and liabilities are offset on the balance sheet when the entity has the legally enforceable right to offset current tax assets against current tax liabilities and they are levied by the same taxation authority on either the same entity or different entities that intend to settle on a net basis or realize the asset and settle the liability simultaneously.

24) Share capital

A. Incremental costs directly attributable to the issuance of new shares are shown as a deduction, net of tax, from equity. Dividends from common stocks are recognized as equity in the financial period in which they are approved by the Company's shareholders. If the date of dividends declared is later than the balance sheet date, common stocks are disclosed in the subsequent events.

B. Where the Company repurchases the Company's equity share capital that has been issued, the consideration paid, including any directly attributable incremental costs (net of income taxes) is deducted from equity attributable to the Company's equity holders. Where such shares are subsequently reissued, the difference between their book value and any consideration received, net of any directly attributable incremental transaction costs and the related income tax effects, is included in equity attributable to the Company's equity holders.

25) Earnings per share

A. Earnings per share is calculated by dividing net income by the weighted average number of shares outstanding during the year after taking into consideration the retroactive effect of stock dividends and capital reserve capitalized.

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B. When the Company calculates earnings per share, basic earnings per share and diluted earnings per share for all potential ordinary shares shall all be disclosed in accordance with IAS 33 "Earnings per share".

CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND KEY SOURCES OF ASSUMPTION UNCERTAINTY

1) As the financial statements of the Company may be affected by the adoption of accounting policy, accounting estimate and assumption, the Company's management shall properly exercise its professional judgement, estimates, and assumptions on the information of the key risks that is obtained from other resources and could affect the carrying amounts of financial assets and liabilities in the next fiscal year while adopting critical accounting policies as stated in Note 4. Estimates and assumptions of the Company are the best estimates made in compliance with IFRSs that came into effect as endorsed by the FSC. Estimates and assumptions are made based on past experience and other factors deemed relevant; however, the actual results may differ from the estimates. The Company evaluates the estimates and assumptions on an ongoing basis and recognizes the adjustment of the estimates only in the period which is affected by the adjustment. If the adjustment simultaneously affects both the current and future periods, it should be recognized in both periods.

2) Relevant information on key assumptions to be made in the future, key sources of assumption uncertainty made at balance sheet date, and assumptions and estimates that may cause key risks that could affect the carrying amounts of financial assets and liabilities are as follows:

A. Fair value of financial instruments

Financial instruments with no active market or quoted price use valuation technique to determine the fair value. Under such condition, fair value is assessed through the observable information or models of similar financial instruments. If there is no observable input available in a market, the fair value of financial instrument is assessed through appropriate assumptions. When valuation models are adopted to determine the fair value, all the models should be calibrated to ensure that the output can actually reflect actual information and market price. Models should try to take only observable information as much as possible.

B. Expected credit losses

For financial assets, the measurement of expected credit losses uses complex models and multiple assumptions. These models and assumptions take into account future macro-economic conditions and credit behaviors of borrowers (e.g. probability of customer default and loss). Please refer to Note 12(2) for detailed information on parameters, assumptions, and estimation methods used in measuring expected credit losses and disclosure of the sensitivity of credit loss to the aforementioned factors.

~29~

The measurement of expected credit losses according to applicable accounting rules involves significant judgement in several areas, for example:

(A) The criteria used to judge whether there is significant increase in credit risk.
(B) The selection of appropriate models and assumptions for measuring expected credit losses.

For judgements and estimations of the above expected credit losses, please refer to Note 12(2).

C. Impairment assessment on investment accounted for under the equity method

When there are impairment indicators that show the investments accounted for under the equity method are impaired and the carrying amount can no longer be recovered, the Company will assess the impairment of the investment. The Company assesses its share of the recoverable amount which is based on the discounted value of expected cash flow, and assess the reasonableness of relevant assumptions, including revenue growth rate, operating profit margin, net profit margin, financial forecast, and discount rate.

D. Impairment assessment of goodwill

The periodic impairment assessment of goodwill includes allocation of assets, liabilities, and goodwill to brokerage segment, and determines the recoverable amount based on brokerage segment's present value of expected future cash flow. The periodic assessment also analyzes reasonableness of relevant assumptions, including expected future trading volumes, market share, segment's operating profit margin, and discount rates.

6. DETAILS OF SIGNIFICANT ACCOUNTS

1) Cash and cash equivalents

	December 31, 2025	December 31, 2024
Checking deposits	$ 672,013	$ 651,611
Current deposits:
Deposits denominated in NTD	1,251,485	1,041,509
Deposits denominated in foreign currencies	1,027,291	1,252,641
Time deposits	1,773,600	2,073,497
Total	$ 4,724,389	$ 5,019,258

As of December 31, 2025 and 2024, the annual interest rates of time deposits, including foreign time deposits were $0.680\% \sim 1.700\%$ , and $0.665\% \sim 4.830\%$ , respectively.

2) Financial assets at fair value through profit or loss

	December 31, 2025	December 31, 2024
Current items:
Financial assets mandatorily measured at fair value through profit or loss:
Security lending
Security lending	$ -	$ 26,015
Adjustment of security lending	-	(1,004)
Total	-	25,011
Open-ended funds, money market instruments and securities investment by brokers
Open-ended mutual funds beneficiary certificates	48,451	220,000
Adjustment of open-ended funds, money market instruments and securities investment by brokers	12,670	(1,563)
Total	61,121	218,437
Trading securities - dealer
Listed (TSE and OTC) stocks	18,686,984	8,767,530
Government bonds	247,551	99,972
Corporate bonds	4,681,755	3,613,718
Convertible corporate bonds	1,093,352	1,421,755
Emerging stocks	289,691	230,771
Overseas stocks	12,195,392	7,919,695
Exchange traded funds	5,085,145	5,272,039
Unlisted stocks	2,052	2,052
Subtotal	42,281,922	27,327,532
Adjustment of trading securities - dealer	2,483,669	495,182
Total	44,765,591	27,822,714
Trading securities - underwriter
Listed (TSE and OTC) stocks	144,071	67,610
Convertible corporate bonds	1,198,840	783,244
Subtotal	1,342,911	850,854
Adjustment of trading securities - underwriter	229,826	152,654
Total	1,572,737	1,003,508

~31~

	December 31, 2025	December 31, 2024
Trading securities - hedging
Listed (TSE and OTC) stocks	$ 12,072,945	$ 8,605,280
Corporate bonds	6,000,013	4,350,000
Convertible corporate bonds	14,530,709	14,190,274
Warrants	17,546	38,420
Overseas stocks	526,679	438,295
Exchange traded funds	5,847	25,222
Subtotal	33,153,739	27,647,491
Adjustment of trading securities - hedging	1,118,845	31,959
Total	34,272,584	27,679,450
Options bought - futures	1,166	168
Futures Margin - Own Funds	6,910,205	4,034,313
Derivative financial instrument assets - OTC	427,547	60,058
Total	$ 88,010,951	$ 60,843,659
	December 31, 2025	December 31, 2024
Non-current items:
Financial assets mandatorily measured at fair value through profit or loss:
Trading securities - dealer - government bonds	$ 49,927	$ 49,878
Unlisted stocks	-	435
Subtotal	49,927	50,313
Adjustment of trading securities	( 86)	858
Total	$ 49,841	$ 51,171

a. For the years ended December 31, 2025 and 2024, net realized and unrealized gains (losses) on financial assets and liabilities at fair value through profit or loss amounted to $4,543,136 and $3,887,503, respectively.
b. Details of the Company's financial assets at fair value through profit or loss pledged to others as collateral are provided in Note 8.
c. Information relating to credit risk is provided in Note 12(2).

3) Financial assets at fair value through other comprehensive income

	December 31, 2025	December 31, 2024
Current items:
Equity instruments:
Trading securities - dealer
Listed (TSE and OTC) stocks	$ 868,366	$ 279,894
Adjustment of trading securities - dealer	996,071	543,717
Subtotal	1,864,437	823,611
Debt instruments:
Trading securities - dealer
Overseas bonds	7,337,676	3,681,435
Adjustment of trading securities - dealer	142,676	( 9,156)
Subtotal	7,480,352	3,672,279
Total	$ 9,344,789	$ 4,495,890
	December 31, 2025	December 31, 2024
Non-current items:
Equity instruments:
Unlisted stocks	$ 6,449	$ 6,449
Adjustment of trading securities	469,934	406,413
Total	$ 476,383	$ 412,862

a. The Company has elected to classify stock investments that are considered to be strategic investments or stably receiving dividends as financial assets at fair value through other comprehensive income. The fair value of such investments amounts to $2,340,820 and $1,236,473 as of December 31, 2025 and 2024, respectively.

b. During the year ended December 31, 2025, the Company disposed of listed equity securities with a fair value of $282,278 in order to adjust its investment portfolio. The cumulative gain arising from the disposal amounted to $4,247.

c. Amounts recognized in profit or loss and other comprehensive income in relation to the financial assets at fair value through other comprehensive income are listed below:

Equity instruments at fair value through other comprehensive income	Year ended December 31, 2025	Year ended December 31, 2024
Fair value change recognised in other comprehensive income	$ 520,122	$ 443,412
Cumulative gains or losses transferred to retained earnings upon derecognition	($ 4,247)	$ -
Dividend income recognised in profit or loss
Held at end of period	$ 57,038	$ 16,751
Derecognized during the period	15,864	-
	$ 72,902	$ 16,751
Debt instruments at fair value through other comprehensive income	Year ended December 31, 2025	Year ended December 31, 2024
Fair value change recognised in other comprehensive income	$ 150,016	($ 3,556)
Interest income recognised in profit or loss	$ 271,719	$ 90,103

d. Details of the Company's financial assets at fair value through other comprehensive income pledged to others as collateral are provided in Note 8.
e. Information relating to credit risk is provided in Note 12(2).

4) Bonds purchased under resale agreements

	December 31, 2025	December 31, 2024
Foreign bonds	$ 122,203	$ -

The above bonds purchased under resale agreements as of December 31, 2025 and 2024 were due within one year and were contracted to be repurchased at the agreed-upon price plus interest charge on the specific date after transaction. The total repurchase amounts were $123,253, and $0, respectively. The annual interest rates in every currency were as shown as follows:

Currency	December 31, 2025	December 31, 2024
Foreign currencies (Note)	3.23% ~ 3.55%	-

Note: Foreign currencies include EUR and USD.

5) Margin loans receivable

Margin loans receivable were secured by the securities purchased by customers under margin loans. The annual interest rate was 6.4%.

6) Receivable of securities business money lending

	December 31, 2025	December 31, 2024
Securities lending receivable - the securities purchased or held by customers as collateral	$ 1,916,065	$ 62,596
Securities lending receivable - unrestricted purposes	19,817,457	18,537,534
Total	21,733,522	18,600,130
Less: Allowance for doubtful accounts	(379)	-
Total	$ 21,733,143	$ 18,600,130

Note: The collateral maintenance ratio is to be calculated in accordance with regulations and shall not fall below 130%.

7) Accounts receivable

	December 31, 2025	December 31, 2024
Accounts receivable - related parties	$ 4,071	$ 3,311
Accounts receivable - non related parties
Settlement price receivable-brokers	$ 24,563,467	$ 14,492,455
Settlement price receivable-dealer	4,854,348	3,165,884
Settlement price receivable-foreign bonds	10,358,762	9,987,065
Settlement price receivable-unrestricted purposes	31,167	290
Settlement price receivable-sub-brokerage	18,533	27,815
Spot exchange receivable, foreign currencies	3,813	56,868
Interest receivable	825,899	821,069
Settlement price	1,733,764	625,228
Dividends receivable	39,226	42,637
Others	229,940	243,106
Subtotal	42,658,919	29,462,417
Less: Allowance for uncollectible accounts	(234)	(491)
Total	$ 42,658,685	$ 29,461,926

A. The ageing analysis of accounts receivable that were past due but not impaired is as follows:

	December 31, 2025
	Up to 30 days	31 to 90 days	91 to 180 days	181 days to 12 months	More than 12 months	Total
Accounts receivable
Accounts receivable	$ 3,893	$ 178	$ -	$ -	$ -	$ 4,071
- related parties
Accounts receivable
- non related parties	41,852,765	210,293	183,340	263,049	149,472	42,658,919
Total	$41,856,658	$ 210,471	$ 183,340	$ 263,049	$ 149,472	$42,662,990

~36~

	December 31, 2024
	Up to 30 days	31 to 90 days	91 to 180 days	181 days to 12 months	More than 12 months	Total
Accounts receivable
Accounts receivable	$ 3,130	$ 181	$ -	$ -	$ -	$ 3,311
- related parties
Accounts receivable
- non related parties	28,661,904	138,774	143,370	381,925	136,444	29,462,417
Total	$28,665,034	$ 138,955	$ 143,370	$ 381,925	$ 136,444	$29,465,728

Note: The above ageing analysis was based on invoice date.
B. Information related to credit risk is provided in Note 12(2).

8) Other receivables

	December 31, 2025	December 31, 2024
Interest receivable	$ 11,396	$ 11,923
Others	5,066	6,116
Total	$ 16,462	$ 18,039

Information relating to credit risk is provided in Note 12(2).

9) Other current assets

	December 31, 2025	December 31, 2024
Pending settlements	$ 470,427	$ 178,819
Pledged time deposits	500,000	500,000
Deposits-in for foreign currency securities	61,984	44,257
Underwriting share proceeds collected on behalf of customers	10	383,532
Amounts held for each customer in the account	4,403,289	1,982,997
Others	31,178	90,914
Total	$ 5,466,888	$ 3,180,519

10) Transfer of financial assets

A. During the Company's activities, the transferred financial assets that do not meet derecognition conditions are mainly debt instruments with purchase agreements or debt instruments lent out in accordance with securities borrowing and lending agreement. The cash flow of the contract has been transferred and related liabilities of transferred financial assets that will be repurchased at a fixed price in the future have been reflected. The Company may not use, sell or pledge the transferred financial assets during the valid period of the transaction. The financial assets were not derecognized as the Company is still exposed to interest rate risk and credit risk.

B. Financial assets that do not meet the derecognition conditions and related financial liabilities are analysed below:

December 31, 2025

Financial assets category	Carrying amount of transferred financial assets	Carrying amount of related financial liabilities
Financial assets measured at fair value through profit or loss
Repurchase agreement	$ 25,319,650	$ 23,841,121
Financial assets measured at fair value through other comprehensive income
Repurchase agreement	7,480,352	7,369,921
December 31, 2024
Financial assets category	Carrying amount of transferred financial assets	Carrying amount of related financial liabilities
Financial assets measured at fair value through profit or loss
Repurchase agreement	$ 16,421,349	$ 15,589,881

11) Offsetting financial assets and financial liabilities

A. The Company has transactions that are or are similar to net settled master netting arrangements but do not meet the offsetting criteria, i.e. derivative financial instruments, resale and repurchase agreements. If one party breaches the contract, the counterparty can choose to use net settlement for the above transactions.

(Blank below)

B. The offsetting of financial assets and financial liabilities are set as follows:

(1) Financial assets

December 31, 2025

Description	Gross amounts of recognised financial assets	Gross amounts of recognised financial liabilities set off in the balance sheet	Net amounts of financial assets presented in the balance sheet	Not set off in the balance sheet		Net amount
				Financial instruments	Cash collateral received
Derivative financial instruments	$ 427,525	$ -	$ 427,525	$ 364,982	$ -	$ 62,543
Bonds purchased under resale agreements	122,203	-	122,203	121,105	-	1,098
Total	$ 549,728	$ -	$ 549,728	$ 486,087	$ -	$ 63,641

December 31, 2024

Description	Gross amounts of recognised financial assets	Gross amounts of recognised financial liabilities set off in the balance sheet	Net amounts of financial assets presented in the balance sheet	Not set off in the balance sheet		Net amount
				Financial instruments	Cash collateral received
Derivative financial instruments	$ 60,058	$ -	$ 60,058	$ 43,442	$ -	$ 16,616

(2) Financial liabilities

December 31, 2025

Description	Gross amounts of recognised financial liabilities	Gross amounts of recognised financial assets set off in the balance sheet	Net amounts of financial liabilities presented in the balance sheet	Not set off in the balance sheet		Net amount
				Financial instruments	Cash collateral received
Derivative financial instruments	$ 364,982	$ -	$ 364,982	$ 364,982	$ -	$ -
Bonds sold under repurchase agreements	21,798,118	-	21,798,118	21,798,118	-	-
Total	$ 22,163,100	$ -	$ 22,163,100	$ 22,163,100	$ -	$ -

December 31, 2024

Description	Gross amounts of recognised financial liabilities	Gross amounts of recognised financial assets set off in the balance sheet	Net amounts of financial liabilities presented in the balance sheet	Not set off in the balance sheet		Net amount
				Financial instruments	Cash collateral received
Derivative financial instruments	$ 43,442	$ -	$ 43,442	$ 43,442	$ -	$ -
Bonds sold under repurchase agreements	12,017,016	-	12,017,016	12,017,016	-	-
Total	$ 12,060,458	$ -	$ 12,060,458	$ 12,060,458	$ -	$ -

12) Investments accounted for under the equity method

	December 31, 2025	December 31, 2024
Subsidiaries
President Futures Corp.	$ 3,916,088	$ 3,053,127
President Securities (HK) Ltd.	864,240	884,272
President Capital Management Corp.	301,310	292,986
President Insurance Agency Corp.	141,885	89,460
PSC Venture Capital Investment Limited Company	258,749	252,014
	5,482,272	4,571,859
Associates
Uni-President Asset Management Corp.	1,111,613	969,373
Jin Yuan President Securities Co., Ltd.	2,638,949	2,641,462
	$ 9,232,834	$ 8,182,694

A. The Company's share of its associates' profits or losses recognized in long-term equity investment accounted for under the equity method for the years ended December 31, 2025 and 2024 were $1,145,257 and $772,602, respectively.

B. Subsidiary President Securities (HK) Ltd. was approved by the Board of Directors in March 2022 to deal with the dissolution and liquidation matters, and the liquidation process is currently in progress. The company also completed the deregistration of securities trading-related licenses on March 27, 2024, and currently has no securities-related business activities.

C. Subsidiary President Futures has completed a cash capital increase on March 25, 2025. The Company participated in the subscription in the amount of $453,706 based on its shareholding ratio. The Company's original investment amount increased from $644,650 to $1,098,356, and the shareholding ratio decreased from 96.69% to 95.82%.

D. The Company holds 42.46% of the equity of Uni-President Asset Management Corp., making it the single largest shareholder of the company, while the other equity is mainly held by the other 22 shareholders. Half of the voting rights of the shareholders attending the shareholders' meeting exceeds the voting rights of the Company, and the Company does not take an active role in the management of the company. This shows that the Company has no actual ability to direct relevant activities. The Company has no control over Uni-President Asset Management Corp., but has significant influence over it.

E. For information regarding the Company's subsidiaries, please refer to Note 4(3) of the Company's 2025 consolidated financial statements.

F. The financial information of the Company's principal associates is summarized as follows: (a) The basic information of the associate that are material to the Company is as follows:

Company name	Principal place of business	Shareholding ratio		Nature of relationship	Methods of measurement
		December 31, 2025	December 31, 2024
Uni-President Asset Management Corp.	Taipei city	42.46%	42.46%	Associate	Equity method
Jin Yuan President Securities Co., Ltd.	Xiamen	49%	49%	Associate	Equity method

(b) The summarized financial information of the associates that are material to the Company is as follows:

Balance sheet

	Uni-President Asset Management Corp.
	December 31, 2025	December 31, 2024
Current assets	$ 2,050,217	$ 1,598,836
Non-current assets	1,018,635	942,434
Current liabilities	( 728,481)	( 531,046)
Non-current liabilities	( 144,966)	( 149,789)
Total net assets	$ 2,195,405	$ 1,860,435
Share in associate’s net assets	$ 932,241	$ 790,001
Goodwill and others	179,372	179,372
Carrying amount of the associate	$ 1,111,613	$ 969,373
	Jin Yuan President Securities Co., Ltd.
	December 31, 2025	December 31, 2024
Current assets	$ 5,989,595	$ 6,228,068
Non-current assets	880,948	227,432
Current liabilities	( 1,403,169)	( 1,022,718)
Non-current liabilities	( 81,766)	( 42,046)
Total net assets	$ 5,385,608	$ 5,390,736
Share in associate’s net assets	$ 2,638,949	$ 2,641,462
Carrying amount of the associate	$ 2,638,949	$ 2,641,462

Statement of comprehensive income

	Uni-President Asset Management Corp.
	Year ended December 31, 2025	Year ended December 31, 2024
Revenue	$ 3,026,617	$ 2,312,109
Profit for the period from continuing operations	$ 1,179,641	$ 873,460
Other comprehensive income (loss) - net of tax	37,392	49,763
Total comprehensive income (loss)	$ 1,217,033	$ 923,223
Dividends received from associates	$ 374,553	$ 219,218
	Jin Yuan President Securities Co., Ltd.
	Year ended December 31, 2025	Year ended December 31, 2024
Revenue	$ 620,050	$ 542,815
Loss for the period from continuing operations	($ 25,799)	($ 133,074)
Total comprehensive income (loss)	($ 25,799)	($ 133,074)

13) Property and equipment

January 1	Year ended December 31, 2025
	Land	Buildings	Equipment	Leasehold improvements	Total
Cost	$ 1,631,492	$ 1,091,412	$ 498,904	$ 28,898	$ 3,250,706
Accumulated depreciation and impairment	-	( 543,373)	( 239,561)	( 5,464)	( 788,398)
Total	$ 1,631,492	$ 548,039	$ 259,343	$ 23,434	$ 2,462,308
January 1	$ 1,631,492	$ 548,039	$ 259,343	$ 23,434	$ 2,462,308
Additions	-	2,095	97,145	2,586	101,826
Disposal	-	-	( 19)	( 303)	( 322)
Reclassifications	-	18,627	45,359	50,892	114,878
Depreciation	-	( 40,962)	( 128,133)	( 10,180)	( 179,275)
December 31, 2025	$ 1,631,492	$ 527,799	$ 273,695	$ 66,429	$ 2,499,415
December 31, 2025	Land	Buildings	Equipment	Leasehold improvements	Total
Cost	$ 1,631,492	$ 1,093,067	$ 567,770	$ 81,473	$ 3,373,802
Accumulated depreciation and impairment	-	( 565,268)	( 294,075)	( 15,044)	( 874,387)
Total	$ 1,631,492	$ 527,799	$ 273,695	$ 66,429	$ 2,499,415
January 1	Year ended December 31, 2024
	Land	Buildings	Equipment	Leasehold improvements	Total
Cost	$ 1,631,492	$ 1,087,437	$ 442,860	$ 16,486	$ 3,178,275
Accumulated depreciation and impairment	-	( 527,009)	( 181,738)	( 9,299)	( 718,046)
Total	$ 1,631,492	$ 560,428	$ 261,122	$ 7,187	$ 2,460,229
January 1	$ 1,631,492	$ 560,428	$ 261,122	$ 7,187	$ 2,460,229
Additions	-	1,212	81,768	2,430	85,410
Reclassifications	-	25,592	29,874	18,290	73,756
Depreciation	-	( 39,193)	( 113,421)	( 4,473)	( 157,087)
December 31, 2024	$ 1,631,492	$ 548,039	$ 259,343	$ 23,434	$ 2,462,308
December 31, 2024	Land	Buildings	Equipment	Leasehold improvements	Total
Cost	$ 1,631,492	$ 1,091,412	$ 498,904	$ 28,898	$ 3,250,706
Accumulated depreciation and impairment	-	( 543,373)	( 239,561)	( 5,464)	( 788,398)
Total	$ 1,631,492	$ 548,039	$ 259,343	$ 23,434	$ 2,462,308

A. No interest was capitalized for property and equipment for the years ended December 31, 2025 and 2024.

B. The information on property and equipment pledged or restricted as of December 31, 2025 and 2024 is described in Note 8.

14) Leasing arrangements—lessee

A. The Company leases various assets including buildings, machinery and equipment, business vehicles and multifunction printers. Rental contracts are typically made for periods of 1 to 10 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose covenants, but leased assets may not be used as security for borrowing purposes.

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

| | December 31, 2025
Carrying Amount | December 31, 2024
Carrying Amount |
| --- | --- | --- |
| Buildings | $ 195,798 | $ 195,739 |
| Transportation equipment (Business vehicles) | 13,060 | 15,365 |
| Office equipment (Photocopiers) | 12,909 | 1,673 |
| Total | $ 221,767 | $ 212,777 |
| | Year ended December 31, 2025 | Year ended December 31, 2024 |
| | Depreciation charge | Depreciation charge |
| Buildings | $ 73,599 | $ 67,705 |
| Transportation equipment (Business vehicles) | 4,626 | 4,920 |
| Office equipment (Photocopiers) | 2,397 | 2,315 |
| Total | $ 80,622 | $ 74,940 |

C. For the years ended December 31, 2025 and 2024, the additions to right-of-use assets amounted to $95,003 and $164,118, respectively.

D. The information on income and expense accounts relating to lease contracts is as follows:

Items affecting profit or loss	Year ended December 31, 2025	Year ended December 31, 2024
Interest expense on lease liabilities	$ 3,380	$ 1,980
Expense on short-term lease contracts	5,311	4,859
Expense on variable lease payment	135	131

E. For the years ended December 31, 2025 and 2024, the Company's total cash outflow for leases amounted to $85,305 and $78,305, respectively.

15) Leasing arrangements – lessor

A. The Company leases various assets including office and parking space. Rental contracts are typically made for periods of 1 to 5 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions.

~43~

B. For the years ended December 31, 2025 and 2024, the Company recognized rent income in the amounts of $17,926 and $18,613, respectively, based on the operating lease agreement, which does not include variable lease payments.

C. The maturity analysis of the lease payments under the operating leases is as follows:

	December 31, 2025	December 31, 2024
2025	$ -	$ 17,838
2026	17,595	17,498
2027	16,972	16,875
2028	13,798	13,701
2029	3,034	13,764
After 2030	1,184	-
Total	$ 52,583	$ 79,676

16) Investment property

	Year ended December 31, 2025
January 1	Land	Buildings	Total
Cost	$ 140,176	$ 72,533	$ 212,709
Accumulated depreciation and impairment	-	( 29,978)	( 29,978)
Total	$ 140,176	$ 42,555	$ 182,731
January 1	$ 140,176	$ 42,555	$ 182,731
Depreciation	-	( 1,423)	( 1,423)
December 31	$ 140,176	$ 41,132	$ 181,308
December 31	Land	Buildings	Total
Cost	$ 140,176	$ 72,533	$ 212,709
Accumulated depreciation and impairment	-	( 31,401)	( 31,401)
Total	$ 140,176	$ 41,132	$ 181,308

~45~

Year ended December 31, 2024

January 1	Land	Buildings	Total
Cost	$ 140,176	$ 72,533	$ 212,709
Accumulated depreciation and impairment	-	( 28,556)	( 28,556)
Total	$ 140,176	$ 43,977	$ 184,153
January 1	$ 140,176	$ 43,977	$ 184,153
Depreciation	-	( 1,422)	( 1,422)
December 31	$ 140,176	$ 42,555	$ 182,731
December 31	Land	Buildings	Total
Cost	$ 140,176	$ 72,533	$ 212,709
Accumulated depreciation and impairment	-	( 29,978)	( 29,978)
Total	$ 140,176	$ 42,555	$ 182,731

A. For the years ended December 31, 2025 and 2024, rental income from the lease of the investment property were $9,294 and $10,141, respectively, and direct operating expenses arising from the investment property were $2,579 and $2,550, respectively.

B. Details of fair value of investment property are provided in Note 12(5).

17) Intangible assets

Year ended December 31, 2025

January 1	Computer software	Goodwill	Customer relationships and others	Total
Cost	$ 353,176	$ 42,004	$ 54,260	$ 449,440
Accumulated amortization and impairment	( 168,078)	-	( 54,253)	( 222,331)
Total	$ 185,098	$ 42,004	$ 7	$ 227,109
January 1	$ 185,098	$ 42,004	$ 7	$ 227,109
Additions	13,444	-	-	13,444
Reclassifications	49,731	-	-	49,731
Amortization	( 92,504)	-	( 7)	( 92,511)
December 31	$ 155,769	$ 42,004	$ -	$ 197,773

	Year ended December 31, 2025
December 31	Computer software	Goodwill	Customer relationships and others	Total
Cost	$339,337	$42,004	$54,160	$435,501
Accumulated amortization and impairment	(183,568)	-	(54,160)	(237,728)
Total	$155,769	$42,004	$-	$197,773
	Year ended December 31, 2024
January 1	Computer software	Goodwill	Customer relationships and others	Total
Cost	$310,088	$42,004	$54,260	$406,352
Accumulated amortization and impairment	(122,301)	-	(54,235)	(176,536)
Total	$187,787	$42,004	$25	$229,816
January 1	$187,787	$42,004	$25	$229,816
Additions	18,252	-	-	18,252
Reclassifications	63,920	-	-	63,920
Amortization	(84,861)	-	(18)	(84,879)
December 31	$185,098	$42,004	$7	$227,109
December 31	Computer software	Goodwill	Customer relationships and others	Total
Cost	$353,176	$42,004	$54,260	$449,440
Accumulated amortization and impairment	(168,078)	-	(54,253)	(222,331)
Total	$185,098	$42,004	$7	$227,109
A. No interest was capitalized for intangible assets for the years ended December 31, 2025 and 2024.
B. Goodwill and customer relationships were acquired through acceptance of transfer of the securities brokerage business of Standard Chartered (Taiwan) Bank’s retail banking business and were all allocated to the Company’s brokerage segment.
C. The recoverable amount of goodwill was periodically determined based on its value in use. Calculations of value in use after-tax cash flow projections are based on financial budgets approved by the management covering a five-year period. Cash flows beyond the five-year period are extrapolated using the estimated growth rates stated below.

The recoverable amount calculated based on the value in use exceeded the carrying amount, thus the goodwill was not impaired. The key assumptions used for calculation of value in use are as follows:

	Brokerage Segment	Brokerage Segment
	2025	2024
Growth rate	0.00%	0.00%
Discount rate	11.87%	12.10%

Management determined the growth rate based on past performance and its expectations of market development. The discount rates were based on the weighted average financing cost rates determined by the Company's capital asset pricing model. The discount rates also reflect specific risks related to relevant operating segments.

18) Other non-current assets

	December 31, 2025	December 31, 2024
Operation guaranteed deposits	$ 490,000	$ 490,000
Clearing and settlement fund	310,295	210,769
Refundable deposits	588,665	531,422
Net defined benefit assets	4,931	-
Prepayment for equipment	38,094	61,250
Overdue receivables	5,204	6,004
Others	2,750	2,750
Subtotal	1,439,939	1,302,195
Less: Allowance for uncollectible accounts	( 5,204)	( 6,004)
Total	$ 1,434,735	$ 1,296,191

19) Short-term loans

	December 31, 2025	December 31, 2024
Unsecured loans	$ 6,334,360	$ 8,545,865
Secured loans	970,000	160,000
Call loans from banks	785,750	98,355
Total	$ 8,090,110	$ 8,804,220

As of December 31, 2025 and 2024, the interest rates of short-term loans, including foreign interest rates were $1.720\% \sim 4.472\%$ and $1.870\% \sim 5.250\%$ , respectively.

20) Commercial papers payable

	December 31, 2025	December 31, 2024
Face value	$ 42,050,000	$ 33,010,000
Less: Discount on commercial papers payable	( 45,370)	( 40,185)
Total	$ 42,004,630	$ 32,969,815

As of December 31, 2025 and 2024, the interest rates of commercial papers, including foreign interest rates were $1.520\% \sim 2.012\%$ and $1.682\% \sim 2.022\%$ , respectively.

21) Financial liabilities at fair value through profit or loss - current

	December 31, 2025	December 31, 2024
Investments in bonds under resale agreements - short sales	$ 136,853	$ -
Valuation adjustment of financial held for trading	692	-
Subtotal	137,545	-
Liabilities on sale of borrowed securities - hedged	899,761	793,826
Valuation adjustment on liabilities on sale of borrowed securities - hedged	48,040	49,671
Liabilities on sale of borrowed securities - non-hedged	6,874,608	6,404,740
Valuation adjustment on liabilities on sale of borrowed securities - non-hedged	756,906	217,500
Subtotal	8,579,315	7,465,737
Issuance of call (put) warrants	11,191,135	18,904,723
Loss (gain) on price fluctuation	613,909	( 6,344,768)
Market value (A)	11,805,044	12,559,955
Warrants redeemed	( 9,309,709)	( 16,132,320)
Loss (gain) on price fluctuation	( 522,839)	4,952,966
Market value (B)	( 9,832,548)	( 11,179,354)
Warrants - net (A+B)	1,972,496	1,380,601
Options sold - TAIFEX	-	316
Outstanding Liability for Issuance of ETNs	267,011	306,853
Valuation adjustment on outstanding liability for Issuance of ETNs	128,620	69,293
Subtotal	395,631	376,146
Derivative financial liabilities - OTC	6,828,616	4,312,910
Total	$ 17,913,603	$ 13,535,710

Among the warrants issued by the Company, except for contract-based warrants which are European-style warrants, all other warrants are American-style warrants. Warrants are stated as liabilities for issuance of warrants at issuance price prior to expiration. Upon repurchase of warrants after issuance, the repurchased amounts are recognized as warrants repurchase and charged as a deduction to liabilities for issuance of warrants. The issuer has the option to settle either by cash or stock delivery.

~48~

22) Bonds sold under repurchase agreements

	December 31, 2025	December 31, 2024
Government bonds	$ 269,085	$ 104,131
Corporate bonds	11,245,146	3,219,329
Bank debentures	-	100,235
International bonds	2,447,896	1,713,508
Foreign bonds	17,248,915	10,452,678
Total	$ 31,211,042	$ 15,589,881

The above bonds sold under repurchase agreements as of December 31, 2025 and 2024 were due within one year and were contracted to be repurchased at the agreed-upon price plus interest charge on the specific date after the transaction. The total repurchase amounts were $31,418,772 and $15,730,764, respectively, and the annual interest rates in every currency were shown as follows:

Currency	December 31, 2025	December 31, 2024
NTD	1.15%~1.62%	1.14%~1.63%
Foreign currencies (Note)	1.95%~4.15%	1.75%~4.95%

Note: Foreign currencies include AUD, EUR, USD, GBP, CNY and SGD.

23) Accounts payable

	December 31, 2025	December 31, 2024
Settlement accounts payable - brokered trading	$ 25,068,178	$ 12,373,337
Settlement proceeds	1,780,859	2,727,528
Settlement accounts payable - operating	4,102,009	1,940,061
Settlement accounts payable - foreign bonds	10,354,886	9,983,714
Spot exchange payable, foreign currencies	3,813	56,794
Others	328,362	349,732
Total	$ 41,638,107	$ 27,431,166

24) Other payables

	December 31, 2025	December 31, 2024
Salary and bonus payable	$ 1,867,631	$ 1,760,813
Employees’ and directors’ remuneration payable	214,459	200,008
Others	869,298	675,478
Total	$ 2,951,388	$ 2,636,299

25) Other financial liabilities - current

	December 31, 2025	December 31, 2024
Equity-linked notes (ELN) – principal value	$ 4,000	$ -
Principal guaranteed notes (PGN) - fixed income	11,380,006	13,801,583
Total	$ 11,384,006	$ 13,801,583

The Company deals in equity-linked products and combines fixed income instruments with call or put options. These products are categorized into ELN (Equity-Linked Notes) and PGN (Principal

Guaranteed Notes). On trade date, the contracted amounts are collected in full from the counterparties. The payout amount on maturity will depend on the price fluctuation of the instruments linked to these contracts and be calculated as trading price less option strike price on maturity. All the linked products are financial instruments under the supervision of the SFB (Securities and Futures Bureau).

26) Long-term loans

	December 31, 2025	December 31, 2024
Credit loans	$ 6,000,000	$ -
Less: current portion of long-term debt	-	-
Total	$ 6,000,000	$ -
Unused Limit	2,000,000	-

As of December 31, 2025 and 2024, the interest rates on the Company's long-term borrowings were 2.197% and 0%, respectively.

In August 2025, to enhance its medium-term working capital, the Company entered into a syndicated loan agreement with a consortium of 10 banks led by Yuanta Commercial Bank. The total committed facility amount is NT$8,000,000, with a loan term of three years commencing from the initial drawdown date (September 2025).

27) Other liabilities - non-current

	December 31, 2025	December 31, 2024
Guarantee deposits received	$ 25,675	$ 25,631
Net defined benefit obligation	-	29,177
Total	$ 25,675	$ 54,808

28) Pension plan

A. Defined benefit plans

(A) The Company has a defined benefit pension plan in accordance with the Labor Standards Law, covering all regular employees' service years prior to the enforcement of the Labor Pension Act on July 1, 2005 and service years thereafter of employees who chose to continue to be subject to the pension mechanism under the Law. Pension benefits are based on the number of units accrued and the average monthly salaries and wages of the last 6 months prior to retirement. Under the defined benefit pension plan, two units are accrued for each year of service for the first 15 years and one unit for each additional year thereafter, subject to a maximum of 45 units. The Company contributes monthly an amount which ranges 7.2% of the employees' monthly salaries and wages to the retirement fund deposited with Bank of Taiwan, the trustee, under the name of the supervisory committee of workers' retirement reserve fund, and with Cathay United Bank, under the name of the management committee of employees' retirement fund. Also, the Company would assess the balance in the aforementioned labor pension reserve account by the end of December 31, every year. If the account balance is insufficient to pay the pension calculated by the aforementioned method, to the employees expected to be qualified for retirement next year, the Company will make contributions to cover the deficit by next March.

~50~

(B) The amounts recognized in the balance sheet are as follows:

	December 31, 2025	December 31, 2024
Net present value of defined benefit liabilities	$ 850,435	$ 844,696
Fair value of plan assets	( 855,366)	( 815,519)
Net defined benefit (assets) liabilities	($ 4,931)	$ 29,177

Year ended December 31, 2025	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit liabilities (assets)
Balance at January 1	$ 844,696	($ 815,519)	$ 29,177
Current service cost	1,335	-	1,335
Interest expense (income)	12,670	( 12,233)	437
	858,701	( 827,752)	30,949
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)	-	( 37,436)	( 37,436)
Change in financial assumptions	14,092	-	14,092
Experience adjustments	28,303	-	28,303
	42,395	( 37,436)	4,959
Pension fund contribution	-	( 40,839)	( 40,839)
Paid pension	( 50,661)	50,661	-
	( 50,661)	9,822	( 40,839)
Balance at December 31	$ 850,435	($ 855,366)	($ 4,931)
	Present value of defined benefit obligations	Fair value of plan assets	Net defined benefit liabilities (assets)
Year ended December 31, 2024
Balance at January 1	$ 829,661	($ 769,360)	$ 60,301
Current service cost	1,583	-	1,583
Interest expense (income)	9,956	( 9,233)	723
	841,200	( 778,593)	62,607
Remeasurements:
Return on plan assets (excluding amounts included in interest income or expense)	-	( 35,199)	( 35,199)
Change in financial assumptions	( 15,725)	-	( 15,725)
Experience adjustments	58,414	-	58,414
	42,689	( 35,199)	7,490
Pension fund contribution	-	( 40,920)	( 40,920)
Paid pension	( 39,193)	39,193	-
	( 39,193)	( 1,727)	( 40,920)
Balance at December 31	$ 844,696	($ 815,519)	$ 29,177

(D) The Bank of Taiwan was commissioned to manage the Fund of the Company's defined benefit

pension plan in accordance with the Fund's annual investment and utilization plan and "Regulations for Revenues, Expenditures, Safeguard and Utilization of the Labor Retirement Fund" (Article 6: The scope of utilization for the Fund includes deposit in domestic or foreign financial institutions, investment in domestic or foreign listed, over-the-counter, or private placement equity securities, investment in domestic or foreign real estate securitization products,etc.). With regard to the utilization of the Fund, its minimum earnings in the annual distributions on the final financial statements shall be no less than the earnings attainable from the amounts accrued from two-year time deposits with the interest rates offered by local banks. If the earnings is less than aforementioned rates, government shall make payment for the deficit after being authorized by the Regulator. The Company has no right to participate in managing and operating that fund and hence the Company is unable to disclose the classification of plan asset fair value in accordance with IAS19 paragraph 142. The composition of fair value of plan assets as of December 31, 2025 and 2024 is given in the Annual Labor Retirement Fund Utilization Report published by the government. In addition, for retirement fund deposits with Cathay United Bank, under the name of the management committee of employees' retirement fund, the fund invests in time deposit accounts under Cathay United Bank.

(E) The principal actuarial assumptions used were as follows:

	Year ended December 31, 2025	Year ended December 31, 2024
Discount rate	1.2%	1.5%
Future salary increases	3.5%	3.5%

Assumptions regarding future mortality rate are set based on the Taiwan Standard Ordinary Experience Mortality Table (2021) for the years ended December 31, 2025 and 2024. Because the main actuarial assumption changed, the present value of defined benefit obligation is affected. The analysis was as follows:

	Discount rate		Future salary increases
December 31, 2025	Increase 0.25%	Decrease 0.25%	Increase 0.25%	Decrease 0.25%
Effect on present value of defined benefit obligation	($ 11,771)	$ 12,043	$ 9,702	($ 9,544)
	Discount rate		Future salary increases
December 31, 2024	Increase 0.25%	Decrease 0.25%	Increase 0.25%	Decrease 0.25%
Effect on present value of defined benefit obligation	($ 12,756)	$ 13,072	$ 10,754	($ 10,564)

(F) Expected contributions to the defined benefit pension plans of the Company for the year ending December 31, 2026 amount to $47,868.

B. Defined contribution plans:

Effective from July 1, 2005, the Company established a defined contribution plan pursuant to the "Labor Pension Act", which covers employees with R.O.C. nationality and those who chose or are required to apply the "Labor Pension Act". The contributions are made monthly based on not less than 6% of the employees' monthly salaries and wages to the employees' individual pension accounts at the Bureau of Labor Insurance. The payment of pension benefits is based on the employees' individual pension fund accounts and the cumulative profit in such accounts. The employees can choose to receive such pension benefits monthly or in lump sum. The pension costs

under defined contribution pension plans of the Company for the years ended December 31, 2025 and 2024 were $86,265 and $81,634, respectively.

29) Equity/Events after the balance sheet date

A. Common stock

On January 1, 2024, the Company's authorized capital was $15,000,000. It was amended to $18,000,000 at the stockholders' meeting on May 28, 2025, with a par value of $10 (in dollars) per share. As of December 31, 2025 and 2024, the common stocks issued and the outstanding common stocks were 1,601,415 thousand shares and 1,455,831 thousand shares.

The reconciliation of the number of ordinary shares outstanding at the beginning and at the end of the reporting period is presented below:

	Year ended December 31, 2025	Year ended December 31, 2024
January 1	1,455,831	1,455,831
Stock dividends on common shares	145,584	-
December 31	1,601,415	1,455,831

The Board of Directors approved on February 26, 2025 and the stockholders at the stockholders' meeting resolved on May 28, 2025 to increase the Company's capital with an unappropriated earnings of $1,455,832, and issue 145,584 thousand ordinary shares with a par value of $10 (in dollars) per share. The record date of the capital increase is July 14, 2025, the total common stock issued after the capital increase was $16,014,145, divided into 1,601,415 thousand shares, each with a par value of $10 (in dollars) per share.

B. Capital reserve

	Share premium	Treasury share transactions	Expired stock options	Total
December 31, 2025	$ 25,043	$ 65,675	$ 483	$ 91,201
December 31, 2024	$ 25,103	$ 65,675	$ 483	$ 91,261

Pursuant to the R.O.C. Company Law, capital reserve arising from paid-in capital in excess of par value on issuance of common stocks and donations can be used to cover accumulated deficit or to issue new stocks or cash to shareholders in proportion to their share ownership, provided it should not exceed 10% of the paid-in capital each year. Capital reserve should not be used to cover accumulated deficit unless the legal reserve is insufficient.

C. Legal reserve

Under the Company's Articles of Incorporation, the current year's earnings, if any, shall first be used to pay all taxes and offset prior years' operating losses and then 10% of the remaining amount shall be set aside as legal reserve. Except for covering accumulated deficit or issuing new stocks or cash to shareholders in proportion to their share ownership, the legal reserve shall not be used for any other purpose. The use of legal reserve for the issuance of stocks or cash to shareholders in proportion to their share ownership is permitted, provided that the balance of the reserve exceeds 25% of the Company's paid-in capital.

~53~

D. Special reserve

In accordance with the “Rules Governing the Administration of Securities Firms”, 20% of the current year's earnings, after paying all taxes and offsetting prior years’ operating losses and plus the items other than the after-tax net profit for the period, that are included in the unappropriated earnings of the period, if any, shall be set aside as special reserve until the cumulative balance equals the total amount of paid-in capital. The special reserve shall be used exclusively to cover accumulated deficit or to increase capital and shall not be used for any other purpose. Such capitalization shall not be permitted unless the Company had already accumulated a special reserve of at least 25% of its paid-in capital stock and only a quarter of such special reserve may be capitalized.

In accordance with the regulations, the Company shall set aside an equivalent amount of special reserve from accumulated unappropriated retained earnings of the current year based on the decreased amount of equity. If there is any subsequent reversal of the decrease in equity, the earnings may be distributed based on the reversal proportion.

In accordance with Jing-Guan-Zheng-Chuan Letter No. 10500278285 dated August 5, 2016, securities firms should set aside 0.5% to 1% of net income after tax as special reserve, upon the distribution of earnings from 2016 to 2018. From fiscal year 2017, special reserve as mentioned above may be reversed based on an amount equal to employees’ transformation training expenditure, employee transfer and settlement expenditure arising from the development of Fintech. Further, according to Jing-Guan-Zheng-Chuan Letter No. 1080321644 dated July 10, 2019, securities firms are no longer required to set aside special reserve starting from 2019. And the special reserve, within the balance of special reserve set aside in the previous years, could be reversed at the same amount for the aforementioned expenditures.

30) Unappropriated earnings and dividends policy

A. Under the Company’s Articles of Incorporation, the current year’s earnings, if any, shall be used to pay all taxes and offset prior years’ operating losses first, and then set aside as legal reserve, accounted for as 10% of the remaining amount, and special reserve, accounted for as 20% of the remaining amount. Upon provision or reversal of special reserve in accordance with the law, any remaining amount together with unappropriated earnings at beginning of the period shall be distributed according to the following resolution adopted at the stockholders’ meeting: Distribution shall not be made if the balance of distributable earnings is less than 5% of paid-in capital.

B. In addition, the total amount of dividends declared every year shall be at least 70% of distributable earnings, of which stock dividends shall be at least 50% and cash dividends shall be lower than 50%.

C. The Company may determine a better proportion of cash and stock dividends distribution based on its actual operating conditions and capital utilization plan for the following year.

D. The earnings distribution for 2024 and 2023 as resolved by the stockholders’ meeting on May 28, 2025 and June 27, 2024, respectively, are as follows:

~54~

	Year ended December 31, 2024		Year ended December 31, 2023
	Amount	Dividends per share (in dollars)	Amount	Dividends per share (in dollars)
Provision of legal reserve	$ 437,415		$ 274,762
Provision of special reserve	874,830		549,522
Cash dividends	1,601,414	$ 1.10	1,921,697	$ 1.32
Stock dividends	1,455,832	1.00	-	-
	$ 4,369,491		$ 2,745,981

E. The earnings distribution for 2025 as resolved by the Board of Directors on March 2, 2026 is set forth below:

	Year ended December 31, 2025
	Amount	Dividends per share (in dollars)
Provision of legal reserve	$ 481,434
Provision of special reserve	962,867
Cash dividends	3,378,985	$ 2.11
	$ 4,823,286

31) Brokerage handling fee revenue

	Year ended December 31, 2025	Year ended December 31, 2024
Revenues from brokered trading - TWSE	$ 2,629,807	$ 2,642,507
Revenues from brokered trading - OTC	849,308	856,656
Sub-brokerage fee income	529,299	296,915
Others	14,728	14,514
Total	$ 4,023,142	$ 3,810,592

32) Revenues from underwriting business

	Year ended December 31, 2025	Year ended December 31, 2024
Revenues from underwriting securities on a firm commitment basis	$ 72,995	$ 53,338
Others	94,357	63,249
Total	$ 167,352	$ 116,587

33) Net gain (loss) on sale of trading securities

	Year ended December 31, 2025	Year ended December 31, 2024
Dealers:
-TAIEX	$ 1,747,941	$ 3,858,912
-OTC	210,447	499,478
-Overseas trading	182,164	396,107
Subtotal	2,140,552	4,754,497
Underwriters:
-TAIEX	23,892	52,810
-OTC	78,571	142,630
Subtotal	102,463	195,440
Hedging:
-TAIEX	912,885	2,206,303
-OTC	888,677	731,859
-Overseas trading	20,749	89,346
Subtotal	1,822,311	3,027,508
Total	$ 4,065,326	$ 7,977,445

34) Interest income

	Year ended December 31, 2025	Year ended December 31, 2024
Interest income from margin loans	$ 930,011	$ 1,020,256
Interest income from bonds	1,146,255	807,852
Interest income from loans	497,141	378,791
Others	9,417	14,838
Total	$ 2,582,824	$ 2,221,737

35) Net valuation gain (loss) on operating securities at fair value through profit or loss

	Year ended December 31, 2025	Year ended December 31, 2024
Gain (loss) on sale of securities - dealer	$ 2,175,661	($ 426,180)
Gain (loss) on sale of securities - underwriting	77,172	( 22,588)
Gain (loss) on sale of securities - hedging	1,086,868	( 495,992)
Total	$ 3,339,701	($ 944,760)

36) Net gain (loss) on covering of borrowed securities and bonds with resale agreements - short sales

	Year ended
	December 31, 2025	Year ended December 31, 2024
Gain (loss) from the bond investments under resale agreements	($ 28,090)	$ 5,255
Gain (loss) from securities borrowing transactions	( 3,810,105)	( 774,875)
Gain (loss) from covering	( 57,724)	( 76,108)
Total	($ 3,895,919)	($ 845,728)

37) Net valuation gain (loss) on borrowed securities and bonds with resale agreements-short sales at fair value through profit or loss

	Year ended
	December 31, 2025	Year ended December 31, 2024
Valuation gain (loss) from securities borrowing transactions	($ 543,233)	$ 172,412
Valuation gain (loss) from covering	5,459	( 23,166)
Valuation gain (loss) from the bond investments under resale agreements	( 940)	-
Total	($ 538,714)	$ 149,246

38) Net realized gain (loss) on financial liabilities measured at fair value through other comprehensive income

	Year ended
	December 31, 2025	Year ended December 31, 2024
Foreign bonds	$ 41,564	($ 63,620)

39) Net gain (loss) from issuance of call (put) warrants

	Year ended
	December 31, 2025	Year ended December 31, 2024
Net gain (loss) on changes in fair value of call (put) warrant liabilities and redemption	$ 168,299	$ 746,190
Net gain (loss) on exercise of call (put) warrants before maturity	( 226,212)	( 312,714)
Expenses arising out of issuance of call (put) warrants	( 440,345)	( 499,281)
Total	($ 498,258)	($ 65,805)

40) Net gain (loss) from derivatives

	Year ended December 31, 2025	Year ended December 31, 2024
Futures contract gain (loss)	$ 3,132,809	($ 1,922,530)
Option trading gain (loss)	77,077	4,896
OTC option trading gain (loss)	( 968,283)	( 690,988)
Net gain (loss) on foreign exchange derivatives	48,670	151,262
Asset SWAP	182,070	435,858
Others	( 278,779)	( 284,857)
Total	$ 2,193,564	($ 2,306,359)

41) Expected credit impairment loss and reversal of impairment gain

	Year ended December 31, 2025	Year ended December 31, 2024
Impairment (loss) and reversal of impairment gain	$ 13,916	$ 15,150
Recovery of bad debts	3,453	7,043
Total	$ 17,369	$ 22,193

42) Other operating income

	Year ended December 31, 2025	Year ended December 31, 2024
Income from securities lending	$ 420,190	$ 430,996
Net currency exchange gain (loss)	( 307,578)	393,013
Handling fee revenues from funds	127,707	102,221
Others	22,842	44,369
Total	$ 263,161	$ 970,599

43) Handling charges

	Year ended December 31, 2025	Year ended December 31, 2024
Brokerage handling fee expense	$ 378,986	$ 354,693
Dealer handling fee expense	226,911	221,676
Refinancing processing fee expense	1,815	1,065
Total	$ 607,712	$ 577,434

44) Financial costs

	Year ended December 31, 2025	Year ended December 31, 2024
Interest expense from repurchase agreements	$ 836,765	$ 638,497
Loans interest expense	658,676	782,338
Other interest expense	187,718	96,001
Total	$ 1,683,159	$ 1,516,836

~59~

45) Employee benefits expense

	Year ended December 31, 2025	Year ended December 31, 2024
Salaries	$ 3,394,408	$ 3,260,036
Labor and health insurance	182,460	164,072
Pension	88,037	83,940
Other employee benefits	196,222	108,013
Total	$ 3,861,127	$ 3,616,061

A. In accordance to the Company's Article of Incorporation, the remainder of the year-end income before taxes less income before appropriating employees' compensation and directors' remuneration, if any, shall appropriate an employee's compensation no less than 1.6%, with no less than 1% of this amount designated for rank-and-file employees and directors' remuneration no more than 2%. However, when the Company has an accumulated deficit, earnings to cover the deficit shall first be retained before appropriating employees' compensation and directors' remuneration.

B. For the years ended December 31, 2025 and 2024, employees' compensation was accrued at $107,230 and $100,004, respectively; directors' remuneration was accrued at $107,230 and $100,004, respectively. The aforementioned amounts were recognized in salary expenses.

C. For the years ended December 31, 2025, employees' compensation was estimated at 2% and directors' remuneration at 2%, based on the period-end income before taxes less income before appropriating employees' compensation and directors' remuneration.

D. The actual distributed amount of employees' and directors' remuneration for 2024 as resolved by the Board of Directors was in agreement with the estimates in the 2024 financial statements.

E. Information on the appropriation of the Company's earnings as resolved by the Board of Directors would be posted in the "Market Observation Post System" on the Taiwan Stock Exchange Official website.

46) Depreciation and amortization

	Year ended December 31, 2025	Year ended December 31, 2024
Depreciation	$ 261,320	$ 233,449
Amortization	92,511	84,879
Total	$ 353,831	$ 318,328

~60~

47) Other operating expenses

	Year ended December 31, 2025	Year ended December 31, 2024
Taxes	$ 947,757	$ 1,042,143
Security lending expenses	235,809	232,806
Computer information expenses	223,326	187,469
TDCC service fee	133,642	133,111
Repairs and maintenance expenses	114,861	92,488
Service fee	130,928	80,895
Others	456,970	401,909
Total	$ 2,243,293	$ 2,170,821

48) Other gains and losses

	Year ended December 31, 2025	Year ended December 31, 2024
Financial income	$ 99,380	$ 79,393
Revenue from facility and equipment usage fee	72,186	70,366
Net (loss) gain on disposal of investments	( 147)	27,884
Net gain (loss) on valuation of non-operating financial instruments	12,934	( 13,669)
Other non-operating revenues	85,531	79,141
Total	$ 269,884	$ 243,115

49) Income tax

A. Income tax expense

(a) Components of income tax expense:

	Year ended December 31, 2025	Year ended December 31, 2024
Current tax:
Current tax on profits for the periods	$ 214,484	$ 433,071
Prior year income tax overestimation	( 652)	( 6,679)
Tax on undistributed surplus earnings	233	82
Total current tax	214,065	426,474
Deferred taxes:
Origination and reversal of temporary differences	128,527	661
Total deferred taxes	128,527	661
Income tax expense	$ 342,592	$ 427,135

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

B. Reconciliation between income tax expense and accounting profit:

	Year ended December 31, 2025	Year ended December 31, 2024
Remeasurement of defined benefit obligations	($ 992)	($ 1,498)
Net unrealized gain (loss) on debt instruments measured at fair value through other comprehensive income	28,264	-
Total	$ 27,272	($ 1,498)

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

	Year ended December 31, 2025	Year ended December 31, 2024
Tax calculated based on profit before tax and statutory tax rate	$ 1,029,404	$ 960,038
Expenses disallowed by tax regulation	115,362	(63,730)
Prior year income tax overestimation	(652)	(6,679)
Tax exempt income by tax regulation	(801,755)	(462,576)
Tax on undistributed surplus earnings	233	82
Income tax expense	$ 342,592	$ 427,135
	Year ended December 31, 2025
---	---	---
	January 1	Recognized in profit or loss
Deferred tax assets:
-Temporary differences:
Unrealised exchange loss	$ -	$ 37,903
Pension	126,637	-
Other	5,022	2,466
Subtotal	$ 131,659	$ 40,369
Deferred tax liabilities:
-Temporary differences:
Valuation gain from financial instruments	($ 13,609)	($ 174,755)
Unrealised exchange gain	( 5,859)	5,859
Subtotal	($ 19,468)	($ 168,896)
Total	$ 112,191	($ 128,527)

	Year ended December 31, 2024
	January 1	Recognized in profit or loss	Recognized in other comprehensive income	Other	December 31
Deferred tax assets:
-Temporary differences:
Pension	$ 125,139	$ -	$ 1,498	$ -	$ 126,637
Other	4,130	892	-	-	5,022
Subtotal	$ 129,269	$ 892	$ 1,498	$ -	$ 131,659
Deferred tax liabilities:
-Temporary differences:
Valuation gain from financial instruments	($ 10,526)	($ 3,083)	$ -	$ -	($ 13,609)
Unrealised exchange gain	(7,389)	1,530	-	-	(5,859)
Subtotal	($ 17,915)	($ 1,553)	$ -	$ -	($ 19,468)
Total	$ 111,354	($ 661)	$ 1,498	$ -	$ 112,191

D. As of December 31, 2022, the Company's income tax returns have been approved by the Tax Authority until 2022, except for 2020 and 2021.

50) Earnings per share

	Year ended December 31, 2025
	Amount after tax	Weighted-average outstanding common shares (In thousands)	Earnings per share (In dollars)
Basic earnings per share
Net income attributable to common shareholders	$ 4,804,426	1,601,415	$ 3.00
Dilutive effect of common stock equivalents
Employee bonus	-	4,487
	$ 4,804,426	1,605,902	$ 2.99
	Year ended December 31, 2024
	Amount after tax	Weighted-average outstanding common shares (In thousands)	Earnings per share (In dollars)
Basic earnings per share
Net income attributable to common shareholders	$ 4,373,054	1,601,415	$ 2.73
Dilutive effect of common stock equivalents
Employee bonus	-	4,272
	$ 4,373,054	1,605,687	$ 2.72

The above-mentioned weighted average number of outstanding shares has been adjusted based on the proportion of capital increase on July 14, 2025, and the earnings per share for the years ended December 31, 2024 have been recalculated.

~63~

7. RELATED PARTY TRANSACTIONS

1) Names and relationships of related parties

Names of related parties	Relationship with the Company
Uni-President Enterprises Corp.	Entity having significant influence on the Company
President Capital Management Corp.	Subsidiary of the Company PSC
President Futures Corp.	Subsidiary of the Company PSC
President Securities (HK) Ltd.	Subsidiary of the Company PSC
President Insurance Agency Corp.	Subsidiary of the Company PSC
PSC Venture Capital Investment Limited Company	Subsidiary of the Company PSC
Uni-President Asset Management Corp.	Associate
President Tokyo Co., Ltd.	Other related party
President Tokyo Auto Leasing Co., Ltd.	Other related party
ScinoPharm Taiwan, Ltd.	Other related party
Ton Yi Industrial Corp.	Other related party
President Chain Store Corp. (PCSC)	Other related party
Presco Netmarketing, Inc.	Other related party
President Professional Baseball Team Co., Ltd.	Other related party
President Information Corp.	Other related party
Q-WARE Systems & Services Corp.	Other related party
Tung Ho Development Co., Ltd.	Other related party
Tainan Spinning Retail and Distribution Co., Ltd.	Other related party
Funds managed by Uni-President Asset Management Corp.	Security investment trust fund raised by the Uni-President Asset Management Corp.(Note)

Note: In accordance with the Q&A issued by the Competent Authority in July 11, 2025 regarding the retrospective application of the “Clarification on the Identification of Related Parties” published by the Accounting Research and Development Foundation, from the 2025 Q3 financial statements. The Group reassessed the relationships and transactions, prior to the issuance of the Q&A, involving funds managed by Uni-President Asset Management Corp. and determined that such funds are not considered related parties. Therefore, the Group did not restate the information of the comparative period and retrospectively adjust the relationships and transactions of related parties, which were identified and disclosed in the previous financial statements.

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2) Significant related party transactions and balances

A. Futures guarantee deposits receivable

	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 6,680,656	$ 3,566,046
B. Accounts receivable
	December 31, 2025	December 31, 2024
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	$ -	$ 318
Subsidiary of the Company PSC:
President Futures Corp.	3,673	2,367
Uni-President Assets Management Corp.	10	-
Other related party:
ScinoPharm Taiwan, Ltd.	315	322
President Chain Store Corp. (PCSC)	-	231
Others	73	73
Total	$ 4,071	$ 3,311
C. Prepayments
	December 31, 2025	December 31, 2024
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	$ 7	$ -
Other related party:
Q-WARE Systems & Services Corp.	3,641	4,682
Tung Ho Development Co., Ltd.	600	600
President Chain Store Corp. (PCSC)	158	158
Presco Netmarketing, Inc.	121	121
President Information Corp.	320	300
Others	25	26
Total	$ 4,872	$ 5,887

D. Other receivables

	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 158	$ 473
Others	21	14
Associate:
Uni-President Assets Management Corp.	23	76
Other related party:
President Chain Store Corp. (PCSC)	320	-
Others	-	18
Total	$ 522	$ 581

E. Acquisition of other assets

	Account items	Year ended December 31, 2025	Year ended December 31, 2024
		Purchase price	Purchase price
Other related party:
President Information Corp.	Intangible assets	$ -	$ 420

F. Lease transactions—lessee

(A) The Company leases business vehicles and multifunction printers, etc., from President Tokyo Co., Ltd., etc. Rental contracts periods are typically 1 to 5 years. Rents are paid monthly.

(B) Right-of-use assets

a. Acquisition of right-of-use assets

	Year ended December 31, 2025	Year ended December 31, 2024
Other related party: President Tokyo Co., Ltd.	$ 16,020	$ 10,004

b. Disposal of right-of-use assets

	Year ended December 31, 2025	Year ended December 31, 2024
Other related party: President Tokyo Co., Ltd.	$ 356	$ 7,473

~66~

a. Lease liabilities – current

	December 31, 2025	December 31, 2024
Other related party:
President Tokyo Co., Ltd.	$ 6,414	$ 5,226
President Tokyo Auto Leasing Co., Ltd.	693	751
Total	$ 7,107	$ 5,977
b. Lease liabilities – non-current
	December 31, 2025	December 31, 2024
Other related party:
President Tokyo Co., Ltd.	$ 19,031	$ 10,572
President Tokyo Auto Leasing Co., Ltd.	-	693
Total	$ 19,031	$ 11,265
c. Financial costs
	Year ended December 31, 2025	Year ended December 31, 2024
Other related party:
President Tokyo Co., Ltd.	$ 304	$ 184
President Tokyo Auto Leasing Co., Ltd.	7	12
Total	$ 311	$ 196
d. Net gain from lease modification
	Year ended December 31, 2025	Year ended December 31, 2024
Other related party:
President Tokyo Co., Ltd.	$ 1	$ 51
G. Refundable deposits
	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 34,000	$ 34,000
H. Equity for each customer in the account
	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 3,104	$ 9,857

I. Accounts payable

	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 1,557	$ 1,348
Other related party:
President Tokyo Co., Ltd.	41	4
Presco Netmarketing, Inc.	136	143
President Information Corp.	-	400
Other	23	-
Total	$ 1,757	$ 1,895
J. Guarantee deposit received
	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 16,142	$ 16,142
Others	854	854
Associate:
Uni-President Assets Management Corp.	1,497	1,497
Total	$ 18,493	$ 18,493
K. Handling fee revenue
	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
Others	$ 29	$ 1
Security investment trust fund raised by the Uni-President Asset Management Corp.:
Funds managed by Uni-President Asset Management Corp.(Note)	-	217,393
Other related party:
Others	1,713	1,989
Total	$ 1,742	$ 219,383

Note: Please refer to the (1) “Names and relationships of related parties” for explanation.
Terms of handling fee revenue mentioned above are similar to those of transactions with third parties.

L. Futures commission income

	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 35,262	$ 35,610

M. Net gain on wealth management - trust income from sales of funds

	Year ended December 31, 2025	Year ended December 31, 2024
Associate:
Uni-President Assets Management Corp.	$ 33,130	$ 28,846

The revenues were collected on a monthly basis in accordance with contract terms.

N. Other operating revenue - handling fee revenues from underwriting funds

	Year ended December 31, 2025	Year ended December 31, 2024
Associate:
Uni-President Assets Management Corp.	$ 106,325	$ 97,532

The revenues were collected on a monthly basis in accordance with contract terms.

O. Other operating revenue – others

	Year ended December 31, 2025	Year ended December 31, 2024
Associate:
Uni-President Assets Management Corp.	$ -	$ 680

P. Rent income

	Period	Deposit	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
President Capital Management Corp.	2023.10.01~2029.03.31	$ 664	$ 4,056	$ 4,001
Others		332	2,528	2,488
Associate:
Uni-President Assets Management Corp.	2016.01.01~2028.08.31	1,497	9,668	9,530
Total			$ 16,252	$ 16,019

Rental income mentioned above is derived from leasing part of the Company's office space and business premises to various related parties and calculated as agreed by both parties. Lease payments are collected on schedule in accordance with the terms of the lease contracts.

Q. Revenues from underwriting business – other revenues from underwriting business

	Year ended December 31, 2025	Year ended December 31, 2024
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	$ 825	$ 75

R. Stock custodian income

	Year ended December 31, 2025	Year ended December 31, 2024
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	$ 4,057	$ 4,058
Subsidiary of the Company PSC:
Others	72	68
Associate:
Uni-President Assets Management Corp.	136	136
Other related party:
ScinoPharm Taiwan, Ltd.	2,149	2,214
Ton Yi Industrial Corp.	1,237	1,241
President Chain Store Corp. (PCSC)	2,812	2,863
Others	728	729
Total	$ 11,191	$ 11,309

Terms of stock custodian income mentioned above are similar to third parties.

S. Other operating expenses - others

	Year ended December 31, 2025	Year ended December 31, 2024
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	$ 228	$ -
Subsidiary of the Company PSC:
President Capital Management Corp.	87,800	50,522
Other related party:
President Tokyo Co., Ltd.	532	188
President Chain Store Corp. (PCSC)	1,273	-
Presco Netmarketing, Inc.	1,820	2,102
President Professional Baseball Team Co., Ltd.	3,426	2,464
Tainan Spinning Retail and Distribution Co., Ltd.	680	1,320
Q-WARE Systems & Services Corp.	6,558	733
President Information Corp.	978	538
Other	517	-
Total	$ 103,812	$ 57,867

T. Clearing charges - futures

	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 22,193	$ 24,769

U. Securities commission expenses

Subsidiary of the Company PSC:
President Futures Corp.
V. Other non-operating income – others

	Year ended December 31, 2025	Year ended December 31, 2024
	$ 3,530	$ 109
	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 8,233	$ 6,636
Other	1,085	1,085
Associate:
Uni-President Assets Management Corp.	41	41
Other related party:
President Chain Store Corp. (PCSC)	356	36
Other	504	504
Total	$ 10,219	$ 8,302

W. Other non-operating expenses - others

Other related party:
President Tokyo Co., Ltd.
X. Purchases of trading securities – dealer

	Year ended December 31, 2025	Year ended December 31, 2024
	$ -	$ 243
	December 31, 2025
---	---	---
	Ending Shares (In thousands)	Ending Balance
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	1,318	$ 101,618
Other related party:
President Chain Store Corp.	9	1,994
Ton Yi Industrial Corp.	-	-
Total		$ 103,612

	December 31, 2024		Year ended December 31, 2024
	Ending Shares (In thousands)	Ending Balance	Gain (loss)
Entity having significant influence on the Company:
Uni-President Enterprises Corp.	100	$ 8,090	$ 786
Security investment trust fund raised by the Uni-President Asset Management Corp.:
Funds managed by Uni-President Asset Management Corp.		172,454	32,542
Other related party:
President Chain Store Corp.	9	2,367	130
Total		$ 182,911	$ 33,458

The compensation of key management personnel

The compensation of key management such as directors, general managers, vice general managers were as follows:

Y. Compensation of key management personnel

	Year ended December 31, 2025	Year ended December 31, 2024
Salary and short-term employee benefits	$ 425,221	$ 375,324
Retirement benefits	1,263	1,172
Other long-term employee benefits	-	-
Termination benefits	-	-
Share-based payment	-	-
Total	$ 426,484	$ 376,496

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8. PLEDGED ASSETS

The Company’s assets pledged or restricted for use were as follows:

Assets	December 31, 2025	December 31, 2024	Purposes
Financial assets at fair value through profit or loss - current
Trading securities (par value)
- Corporate bonds	$ 11,365,000	$ 3,214,000	Securities for bonds sold under repurchase agreements
- Government bonds	242,400	93,900	Securities for bonds sold under repurchase agreements
- Overseas bonds	10,554,931	7,312,417	Securities for bonds sold under repurchase agreements
- International bonds	2,611,833	1,847,763	Securities for bonds sold under repurchase agreements
- Bank debentures	-	100,000	Securities for bonds sold under repurchase agreements
Financial assets at fair value through other comprehensive income - current
- Overseas bonds (par value)	7,228,900	3,606,350	Securities for bonds sold under repurchase agreements
Other current assets
- Pledged demand deposits	768	384,288	Collections on behalf of third parties and reimbursement for wages and stocks
- Pledged time deposits	500,000	500,000	Securities for short-term loans and guarantees for issuance of commercial papers
Financial assets at fair value through profit or loss - non-current
- Government bonds (par value)	50,000	50,000	Trust fund deposit-out
Property and equipment
- Land and buildings (book value)	1,074,970	1,080,330	Securities for short-term loans and guarantees for issuance of commercial papers
Pledged time deposits (stated as other non-current asset)
- Operating guarantee deposits	490,000	490,000	Security deposits

9. SIGNIFICANT COMMITMENTS

None.

10. SIGNIFICANT LOSS FROM NATURAL DISASTER

None.

11. SIGNIFICANT SUBSEQUENT EVENT

None.

12. OTHER

1) Management objective and policy of financial risks

A. Risk management objective

The Company continually strengthens risk culture to every employee and makes sure that the Company can actively develop various businesses under a healthy and effective risk management system. At the same time, by creating value of an entity and continually increasing profit, profit

maximization may be achieved within appropriate risk tolerance.

B. Risk management system

In order to ensure the completeness of risk management system, run the balancing mechanism of risk management, and improve the division efficiency of risk management, the Company sets up "Risk Management Policy". Such policy aims to establish internal system compliance and the guiding tools for policies communication within the Company and enable every layer of the Company engaged in different tasks to identify, evaluate, monitor, and control various risks with establishment of consistent compliance rules for risks of each business so that the risks can be controlled within the limits set in advance.

The Company's risk management system covers risks incurred from businesses in and off the balance sheet, such as market risk, credit risk, liquidity risk, operating risk, legal risk, model risk, reputation risk and climate risk, which are all included in the risk management.

C. Risk management organization

Risk management organization: Board of Directors, Risk Management Committee, Risk Control Office, Business units and other related segments (such as Office of Auditing, Office of General Manager, Compliance segment, Legal segment, Finance segment, Settlement segment and General Affair segment) are in charge of planning, supervising and execution.

(A) The Board of Directors should ensure the effectiveness of risk management and be responsible for the ultimate result and the following duties:

a. To establish proper risk management system, operating process, and risk management culture in the Company with allocation of necessary resource for better execution and operation.
b. Policy of risk management review.
c. Review and approval of business application, transaction authorization and risk limit.

(B) The Risk Management Committee reports to the Board of Directors and is responsible for the following:

a. Review risk management policy.
b. Review the highest risk tolerance.
c. Submit regular reports to the Board of Directors in relation to the risk management status of the whole Company.

a. Supervise and monitor daily risk management of the entire Company.
b. Approval of management exceptions.

(D) Assets and Liabilities Committee reports to the General Manager and is responsible for the following:

a. Set up the ultimate guidelines for assets and liabilities management of the entire Company.
b. Analyze and control the entire Company's assets and liabilities portfolio.
c. Approval of various businesses' quotas.
d. Gather and analyze information on domestic and offshore interest rate, exchange rate, prosperity fluctuation, political and economic environmental changes, and predict the financial trend in the future.

(E) Risk Control Office implements risk management policy and related regulations and reports to the Risk Management Committee. Risk Control Office also reports daily risk management to the General Manager and is responsible for the following:

a. Establish Risk Management Policy of the entire Company.
b. Develop effective method for measurement and risk management in an entity.
c. Review risk management system of business units.
d. Generate risk report through information gathering and consolidation.

~73~

e. Analyze various business risks and report to the General Manager.

f. Report the risk management situation to the Risk Management Committee according to a meeting's nature and needs.

g. Carry out duties as designated by the Risk Management Committee and control risks of business units.

(F) Auditing Office is responsible for the following:

a. Execute operating risk control.

b. Include the risk management system into internal audit program and carry out the daily audit schedule.

c. Assess the effectiveness of internal control and verify the executed result.

(G) Compliance segment and legal segment under the Office of General Manager are responsible for the following:

a. Compliance segment should make sure that the business operation and risk management system are in compliance with relevant regulations.

b. Legal segment is responsible for legal risk control.

c. Compliance segment also provides services of Anti-Money Laundering and Counter Terrorism Financing, including designs specification and internal control, establishes transaction monitoring, oversees the effective implementation of business units, conducts the employee training and reports any suspicion of money laundering.

(H) Finance segment is responsible for the following:

a. Verify the correctness of position information and reasonability of profit and loss calculation.

b. Control and analyze self-owned capital adequacy ratio.

c. Analyze the appropriateness of structures of the assets and liabilities.

(I) Business units are responsible for the following:

a. Set up risk management details of various businesses according to the risk management policy and other related regulations.

b. Provide sufficient position information and risk control information to the Risk Control Office.

(J) Settlement division is responsible for the following:

a. Clearing and settlement; risk control and management of margin purchase and short sale of securities.

b. Risk control and management of trading middle office and enforcement of rules governing risk management of business segments.

(K) General Affair segment is responsible for the following:

a. Verify and manage greenhouse gas.

b. Sustainable resources management, responsible procurement and supplier management.

D. Risk management policy

Risk management processes include risk identification, risk evaluation, risk supervision and various risk control. Each kind of risk evaluations and responding strategies are described as follows:

(A) Market risk management

~74~

The Company has implemented risk management information system (Risk Manager) in relation to market risk control. All trading positions of the Company have been included in the daily risk control system for the calculation of Value at Risk (VaR). Limit exceeding indicators are mainly the nominal principal, stop-loss, sensitivity (Greeks) and VaR. The risk management report is presented on a daily basis for implementation of regular control and limit exceeding handling procedures.

(B) Credit risk management

In relation to risk control, the quantitative model of default rate adopts KMV model to calculate the default rate of issuers with credit exposure of the issuing company and the trading counterparties, and credit risk of securities disclosed in the report. The credit exposure is mitigated through regular review of credit status.

Unit in charge of fund procurement regularly predicts future fund demand and supply, and consolidates company guarantee or endorsement and capital lending businesses to monitor the condition of fund procurement on a daily basis.

(D) Operating risk

Settlement segment is responsible for confirming the settlement and clearing, accounts opening and the actual disbursement. Finance segment prepares vouchers based on the actual transaction evidence and compares whether the accounts and cash accounts are matched, and confirms the operating risks of accuracy of the transaction from an accounting perspective. Auditing segment is responsible for internal audit and internal control, and regularly samples and checks the performance of each unit.

(E) Legal risk

Legal segment is responsible for reviewing of the Company's various derivative financial instrument contracts, ISDA and individual account contracts, etc. and handle all legal-related issues.

(F) Climate risk

Based on the two major risk indicators of climate risks, the physical risk and the transition risk, the potential climate risk on investment position is estimated by different scenario analyses. The Company regularly discloses implementation of climate risk management annually that complies with the policy guidelines set by the competent authorities and initiatives or guidelines internationally and generally recognised to enhance the quality and transparency of information disclosure.

E. Hedging and risk-offsetting strategy

(A) Policies of hedging and risk mitigating are parts of the Company's risk management policies, and the hedging position and hedged trading position are supposed to be one portfolio, of which the gain and loss and risk information are measured on a consolidated basis.

(B) The overall position (hedging position and trading position) is included in the daily risk management system to calculate Value at Risk and other relevant information. Limit exceeding indicators mainly include nominal principal, stop-loss point, price sensitivity and VaR. With the presentation of daily risk management report, routine control and limit exceeding treatment can be executed.

(C) The continued effectiveness of hedging and risk-offsetting strategy is measured by the gain and loss of overall position (hedging position and trading position), in order to track reasonableness of the profit or loss of hedging position and the offsetting relationship with the profit or loss of trading position, and to control them within a reasonable range.

2) Credit risk

A. Source and definition of credit risk

The credit risk exposure of the Company as a result of engagement in financial transactions include

issuer’s credit risk, credit risk of counterparty and credit risk of underlying assets:

(A) Credit risk of the issuer refers to the issuers of financial debt instruments held by the Company failing to repay its obligation due to the fact that the issuer breaches the contract resulting in the risk of financial loss to the Company.

(B) Credit risk of counterparty refers to risk of financial loss to the Company arising from default by the counterparty of financial instruments on the settlement or payment obligation.

(C) Credit risk of the underlying assets happens when the credit rating of the underlying assets linked to the financial instrument is downgraded by the rating agency or when the losses occur as a result of contract default.

The financial assets held by the Company which could result in credit risk include bank deposit, debt securities, derivatives transactions in OTC, bonds purchased/sold under resale/repurchase agreements, refundable deposit of securities lending, futures trade margins, other refundable deposits and receivables.

B. Maximum credit risk exposure and credit risk concentration

The maximum exposure to credit risk of financial assets in the parent company only balance sheet, without consideration of the collateral or other credit enhancements, is equivalent to the carrying amount. In Taiwan, the sources of credit risk of the Company are primarily resulting from cash deposited with banks or other financial institutions, debt securities issued or guaranteed by a bank, derivative instruments transaction underwritten by the Company, and all counterparties of customer margin deposits accounts being financial institutions. Credit risks of various financial assets are as follows:

(A) Cash and cash equivalents

Cash and cash equivalents include time deposit, demand deposits and checking deposits.

Correspondent institutions are mainly domestic financial institutions.

(B) Financial assets at fair value through profit and loss - current

a. Fund

The funds held by the Company are bond funds. As the positions held are not significant, credit risk is deemed low.

b. Commercial papers

The commercial papers held by the Company are repurchase agreements. As all the counterparties are financial institutions with good credit, the credit risk from counterparties is extremely low.

c. Debt securities

Debt securities are mainly positions like government bonds, convertible corporate bonds and foreign bonds and the issuers are primarily R.O.C. government, domestic and foreign legal entities. 10% of convertible corporate bond is guaranteed by banks. Details are as follows:

(a) Government bonds

The bonds held by the Company are mostly government bonds (inclusive of central and local government). As a whole, the credit risk of the bonds held by the Company is low.

(b) Corporate bonds

The corporate bonds held by the Company are mainly underlying investment with good credit rating and those with rating above (S&P BB).

The convertible corporate bonds held by the Company are mostly issued by the domestic legal entities. The Company mitigates highly risky credit exposure of the issuers by control through Taiwan Corporate Credit Risk Index (TCRI).

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(d) Foreign bonds

The foreign bonds held by the Company are mainly underlying investment with good credit rating and those with rating above (S&P BB).

The foreign government bonds held by the Company are classified as debt instruments at fair value through other comprehensive income. In general, the bonds held by the Company are with lower credit risk.

(D) Derivatives - futures trade margin

When engaging in futures trades in stock exchange market, the Company needs to deposit margin into a margin deposit account of a financial institution designated by the futures merchants as a guarantee to fulfil contractual obligation in the future. As a result, the credit risk is low.

(E) Derivatives - OTC

The Company signs International Swaps and Derivatives Association (ISDA) agreements with each counterparty when engaging in OTC derivatives as an agreement regarding such transactions for both parties. In the agreement, it provides a fundamental contractual model for OTC derivative transactions. If any party breaches the contract or terminates the transactions early, then all the open interest covered in the agreement should be settled by net amount as bound in the contract. When the ISDA agreement is signed, the Credit Support Annex (CSA) is also signed. According to the CSA, collateral will be transferred from a party to the other during transaction process to mitigate the risk of counterparty in open interest. Please refer to Note 6(11).

Types of OTC derivative transactions in which the Company is engaged include swap transaction. The counterparties are all from financial service industry and mainly located in Taiwan and United Kingdom.

(F) Bonds purchased under resale agreement

Bonds sold under a resale agreement are the bonds that the client sold to the Company at a price, interest rate, length of period as agreed by two parties and the client shall repurchase the bonds at the specified price upon maturity. The Company needs to assume credit risk from counterparties when conducting such business, as the payment being delivered to the other party. With consideration of good collateral obtained, the net of credit risk exposure from counterparties can be effectively reduced. As all the counterparties are financial institutions with good credit rating, the credit risks from counterparties are extremely low. Please refer to Note 6(11).

(G) Margin loans receivable

Margin loans receivable are the loans provided to the client in order to process businesses of margin trading and short sale using the securities purchased through financing as collateral. The Company monitors the clients' margin ratio through information system on a daily basis. As the margin ratio of margin trading is set at 130% according to Regulations Governing the Conduct of Securities Trading Margin Purchase and Short Sale Operations by Securities Firms, the credit risk is extremely low.

(H) Receivables of securities business money lending

Receivables of securities business money lending are the non-restricted purpose loan business and monetary financing business, pursuant to an agreement between a securities firm and a

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customer, using customer securities and other commodities as collateral. The Company regularly assesses its customer line of credit and implements appropriate credit control. As the margin ratio of margin trading is set at 130% according to Regulations Governing the Conduct of Securities Trading Margin Purchase and Short Sale Operations by Securities Firms, the credit risk is extremely low.

(I) Guaranteed price for securities lending

Guaranteed price for securities lending is the sale price of the Company's securities sold by other securities firms through margin trading after deduction of securities transactions tax and service fee, which is deposited in other securities firms as collateral. As all the counterparties are financial institutions with good credit rating, the credit risk from counterparties is extremely low.

(J) Refundable deposits for securities lending

Refundable deposits for securities lending are the margins deposited in other securities firm as collateral when the Company's securities are sold. As all the counterparties are financial institutions with good credit, the credit risk from counterparties is extremely low.

(K) Receivables

Receivables are the credit rights arising from the securities business including settlement receivables of consignment trading, settlement receivables of operating securities sold, financing interest receivables of self-operating credit transaction, receivables of consignment trading for securities, and receivables from banks' underwriting on foreign exchange transactions and foreign fund demand. As the majority of the Company's receivables from the consignment businesses and self-operating businesses are settlement of securities from OCT or TWSE, the credit risk is extremely low. As the foreign exchange transactions are simply the receipt or payment of different currencies and the correspondent banks are of good credit rating, the credit risk is extremely low.

(L) Other current assets

Other current assets are mainly the collateral deposited in the bank for application for short-term debt limit and guarantee for application for issuance of commercial papers. As the correspondent banks are all financial institutions with good credit rating, the credit risk is extremely low.

(M) Financial assets at fair value through profit or loss – non-current

In order to conduct trust business, the Company deposits central government bonds in the Central Bank as collateral. Regardless of the bonds themselves or the financial institutions where the bonds deposited, the credit risk is extremely low.

(N) Other non-current assets

Other non-current assets mainly comprise operating guarantee deposits, settlement funds, and refundable deposits. Operating guarantee deposits are mainly deposited in domestic banks with good credit rating. Settlement funds are deposited in securities exchange. Settlement funds are used as compensation when a party to a marketable securities transaction fails to

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fulfil the settlement obligation. The credit risks from the institutions where these two assets are deposited are extremely low. The refundable deposits refer to cash or other assets which are deposited externally by the Company and can be used as refundable deposits. Because deposits are placed in various financial institutions and each deposit amount is small, the credit risk is dispersed and the credit exposure of overall refundable deposit is extremely low.

C. Expected credit loss assessment

In the assessment of impairment and calculation of expected credit losses, the Company considers reasonable and supporting information about past events, current conditions and future economic conditions. The Company determines at the balance sheet date whether there has been a significant increase in credit risk since initial recognition or whether credit impairment has occurred and recognizes expected credit loss according to which stage the asset belongs: no significant increase in credit risk or low credit risk at balance sheet date (Stage 1), significant increase in credit risk (Stage 2), and credit impaired (Stage 3). 12-month expected credit losses are recognized for assets in Stage 1, and lifetime expected credit losses are recognized for assets in Stage 2 and Stage 3.

The definition of and expected credit losses recognized for each stage are as follows:

Item	Stage 1	Stage 2	Stage 3
Definition	No significant deterioration of credit quality of the financial asset since initial recognition, or the financial asset is considered low-risk at the balance sheet date.	Significant deterioration of credit quality of the financial asset since initial recognition, but the asset is not yet credit impaired.	The financial asset is credit impaired at the financial reporting date.
Expected credit losses recognition	12-month expected credit losses	Lifetime expected credit losses	Lifetime expected credit losses

(A) Judgements of the significant increase in credit risk since initial recognition

Judgements and assumptions used to determine whether the credit risk has a significant increase since initial recognition when the Company calculates expected credit loss under IFRS 9 are as follows:

a. If contractual payments are over 30 days past due according to the payment terms, the financial asset is considered to have significant increase in credit risk since initial recognition.

b. There is significant increase in credit risk at the reporting date if the credit rating of the issuer has been downgraded by more than 2 grades and the final external credit rating at the reporting date is non-investment grade, if the interest payments are over 30 days past due, or if there has been a default in the past.

(B) Definition of default and credit-impaired financial assets

According to the definition of credit impairment set by IFRS 9, a financial asset is credit-

impaired when one or more events that have occurred and have a significant impact on the expected future cash flows of the financial asset. The criteria used to judge whether a financial asset is credit-impaired since initial recognition includes but is not limited to the following:

a. Contractual payments or principal or interest payments on bonds are over 3 months (90 days) past due.
b. Bond investment is rated as "in default" by external credit rating agencies.
c. Bond issuer has filed for bankruptcy, restructure, or other debt clearance procedures.
d. Issuer or counterparty has financial difficulties.

If any of the following condition applies, the Company will write off the non-recoverable portion of the overdue receivables as bad debt.

a. Debt cannot be fully or partially recovered due to dissolution of, disappearance of, settlement with, bankruptcy declaration by the debtor, or any other reason.
b. The collateral and the assets of the primary and secondary debtors could not be auctioned off after multiple attempts and multiple price discounts, and the Company has not received any real benefits in assuming the collateral.
c. Payments are over two years past due and could not be recovered after attempts to collect.

(D) Measurement of expected credit losses

The Company considers reasonable supporting information which shows significant increase in credit risk since initial recognition when calculating expected credit losses. Main indexes include: internal/external credit rating, information of past due, credit spread, other market information in relation to the borrower, issuer or counterparty, and significant increase in credit risk of other financial instrument of the same borrower.

Investments in bills and bonds

a. Probability of default was based on external credit rating, which include forward-looking information.
b. Loss given default was based on the average loss given default of external credit rating of investment position and counterparties.
c. Exposure at default

Stage 1, Stage 2 and Stage 3: Total carrying amount (including interest receivable).

(E) Consideration of forward-looking information

Historical loss rate (based on the historical experience in the past 3 to 5 years) as obtained and compared with economic environment in the past, nowadays and future (forward-looking factor) to see whether there is any significant change, and then to properly adjust future loss rate standards. If any significant default event occurs, the loss rate in the current year will be included in the calculation of future loss rate standard.

D. Table of movements in loss provision of the Company

(A) At December 31, 2025 and 2024, there were no changes in the loss allowance for investments in debt instruments measured at fair value through other comprehensive income.

(B) Except for bond interest receivable which was evaluated along with debt investments, the Company applies the simplified approach to measure the loss allowance at an amount equal to lifetime expected credit losses for margin loans receivable, accounts receivable, other receivable-others and overdue receivables. The movements in loss provision of margin loans receivable, accounts receivable, other receivable-others and other non-current assets-overdue receivables of the Company are as follows:

	Year ended December 31, 2025
	Margin loans receivable	Loan receivables- unrestricted use	Other receivables	Other non-current assets- overdue receivables	Total
At January 1	$ 27,740	$ -	$ 491	$ 6,004	$ 34,235
Provision (reversal of provision) for impairment	( 13,427)	379	( 257)	( 611)	( 13,916)
Derecognised	-	-	-	( 189)	( 189)
At December 31	$ 14,313	$ 379	$ 234	$ 5,204	$ 20,130
	Year ended December 31, 2024
	Margin loans receivable	Loan receivables- unrestricted use	Accounts receivable	Other non-current assets- overdue receivables	Total
At January 1	$ 46,779	$ -	$ 641	$ 1,965	$ 49,385
Provision (reversal of provision) for impairment	( 19,039)	-	( 150)	4,039	( 15,150)
At December 31	$ 27,740	$ -	$ 491	$ 6,004	$ 34,235

3) Liquidity risk

A. Definition and source of liquidity risk

Liquidity risk refers to possible financial losses arising from the inability to realize the asset or to obtain sufficient fund to fulfil the financial liabilities soon to be matured. Above situations may weaken the sources of cash from the Company's trading and investment activities.

B. Liquidity risk management procedure and stimulation test

In order to prevent operational crisis as a result of liquidity risk, the Company has established responding crisis process with regular monitoring over liquidity gap of fund.

(A) Procedure

In addition to the operating capital for various business and long-term investment, the Company needs to maintain revolving funds at a certain level for daily operation. The use

of remaining fund shall avoid high concentration and should be based on the principle of holding sound earning assets with high liquidity and treated in compliance with policies of the Company.

The responsive unit for fund procurement adjusts the liquidity gap to ensure proper liquidity according to the daily volume and movement in the market.

(B) Stimulation test

a. The Company reviews fund liquidity risk from a perspective of supply and demand of fund every month with simulation analysis of available fund for emergency including scenario analysis of cash, funding limit of financial institutions, margin loans and short sale, and value of disposal of position in order to compute maximum available fund and fund demand. Finally, safety stock of fund is reviewed to monitor liquidity risk.

b. Above liquidity risk is generally reviewed monthly. However, if the available limit of increment banking credit risk in financing limit of a financial institution is lower than a certain amount (that is, the amount may be timely adjusted according to the fund liquidity in the market and the actual fund demand and supply in an entity), the safety stock will be reviewed weekly. After the early warning report for fund is submitted, the head of finance segment will call for a fund control meeting.

c. Other than individual funding liquidity risk of an entity, stress test of minimization funding supply and maximization funding demand in the event of significant crisis is simulated, including:

(a) When there is a significant crisis in the market, the financing limit of the financial institutions and the value of disposal of position can be deemed the minimized ratio of fund supply which is then adjusted according to actual condition to compute the total fund supply under maximum stress.

(b) Except for the operating expense, the stock concept is adopted for the calculation of total fund demand under maximum stress.

(c) The Company should conduct a review to see whether the total minimized fund supply is more than maximized total fund demand. The Company should further review how long (by month) the difference may cover the operating expenses so that the safety stock of fund (by month) under stress test can be computed.

(d) The minimum safety stock of fund under stress test (by month) may be adjusted according to the crisis itself and only operating expense for at least 6 months under a normal stimulation can be deemed safe.

C. Maturity analysis for the financial assets and financial liabilities held for liquidity risk management

(A) The Company holds cash and sound earning assets with high liquidity in order to fulfil the payment obligation and potential emergency fund demand in the market. Financial assets held for liquidity risk management are mainly cash and cash equivalents, among which, all time deposits mature within a year. Financial assets at fair value through profit or loss are mainly listed stocks, convertible bonds and debt securities. As all of them have positions in active market, the liquidity risk is deemed low.

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(B) Maturity analysis for the financial liabilities is as follows:

	December 31, 2025
	Immediately	Less than 3 months	3-12 months	1-5 years	Total
Short-term loans	$ 2,974,320	$ 5,115,790	$ -	$ -	$ 8,090,110
Commercial papers payable	650,000	41,400,000	-	-	42,050,000
Financial liabilities at fair value through profit or loss - current
Non-derivative financial liabilities	8,716,860	-	-	-	8,716,860
Derivative financial liabilities	6,610,097	-	2,586,646	-	9,196,743
Bonds sold under repurchase agreements	-	31,418,772	-	-	31,418,772
Deposits on short sales	996,767	-	-	-	996,767
Deposits payable for securities financing	1,498,628	-	-	-	1,498,628
Securities lending refundable deposits	-	2,132,389	710,801	-	2,843,190
Accounts payable (includes notes payable)	41,480,492	157,615	-	-	41,638,107
Collections on behalf of third parties	545,564	48,323	94,182	-	688,069
Other payables	10,735	286,769	2,653,884	-	2,951,388
Other financial liabilities - current	-	10,528,353	855,653	-	11,384,006
Long-term loans	-	-	-	6,000,000	6,000,000
Lease liabilities	-	20,634	51,071	143,485	215,190
Total	$ 63,483,463	$ 91,108,645	$ 6,952,237	$ 6,143,485	$ 167,687,830

	December 31, 2024
	Immediately	Less than 3 months	3-12 months	1-5 years	Total
Short-term loans	$1,060,000	$7,244,220	$500,000	$-	$8,804,220
Commercial papers payable	200,000	32,810,000	-	-	33,010,000
Financial liabilities at fair value through profit or loss - current
Non-derivative financial liabilities	7,465,737	-	-	-	7,465,737
Derivative financial liabilities	4,827,187	-	1,242,786	-	6,069,973
Bonds sold under repurchase agreements	-	15,730,764	-	-	15,730,764
Deposits on short sales	1,208,692	-	-	-	1,208,692
Deposits payable for securities financing	1,707,090	-	-	-	1,707,090
Securities lending refundable deposits	-	659,427	232,600	81,549	973,576
Accounts payable (includes notes payable)	27,359,191	71,975	-	-	27,431,166
Collections on behalf of third parties	848,621	16,806	-	90,116	955,543
Other payables	20,131	248,631	2,367,537	-	2,636,299
Other financial liabilities - current	-	12,405,988	1,395,595	-	13,801,583
Lease liabilities	-	20,526	47,190	143,956	211,672
Total	$44,696,649	$69,208,337	$5,785,708	$315,621	$120,006,315

4) Market risk

A. Definition of market risk

Market risk refers to the risk of decrease in the Company’s revenue or value of investment portfolio as a result of the changes in exchange rate, commodity price, interest rate, and stock price or other market risk factors.

The Company continually exercises risk management tools such as sensitivity analysis, Value at Risk, stress test and so on to completely and effectively measure, monitor and manage market risk.

B. Value at Risk (VaR)

Value at Risk is used to measure the possible maximum potential losses in investment portfolio as a result of movement in market risk factor in a specified period and confidence level. The Company currently uses confidence level of 95% to calculate Value at Risk of one day.

A VaR model must reasonably, completely and accurately measure the maximum potential risks of financial instruments or investment portfolio before being adopted as a risk management model by the Company. The VaR model used in risk management is continually certified and retrospectively tested to demonstrate that the model can reasonably and effectively measure the maximum potential risks of financial instruments or investment portfolios.

| Statistical table
for one-day VaR of transactions | | Statistical table
for one-day VaR of transactions | |
| --- | --- | --- | --- |
| Year ended December 31, 2025 | Amount | Year ended December 31, 2024 | Amount |
| December 31, 2025 | $ 280,529 | December 31, 2024 | $ 132,331 |
| VaR Maximum | 340,423 | VaR Maximum | 389,359 |
| VaR Average | 194,856 | VaR Average | 182,982 |
| VaR Minimum | 95,645 | VaR Minimum | 43,215 |

Statistical table for VaR of various risk indicators of transactions

Year ended December 31, 2025	Foreign exchange	Interest	Share ownership
December 31, 2025	$ 11,281	$ 23,274	$ 292,203
VaR Maximum	57,090	54,162	346,867
VaR Average	17,890	36,633	193,146
VaR Minimum	1,575	2,603	93,242
Year ended December 31, 2024	Foreign exchange	Interest	Share ownership
---	---	---	---
December 31, 2024	$ 2,760	$ 3,976	$ 132,390
VaR Maximum	30,481	39,696	382,392
VaR Average	13,910	12,696	184,167
VaR Minimum	2,380	855	37,559

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C. Information on gap of foreign exchange risk

The following table summarizes financial instruments of foreign assets or liabilities by currency and the foreign exchange exposure presented by book value as of December 31, 2025 and 2024 :

	December 31, 2025
	USD	EUR	AUD	RMB	HKD	Others	Total
Financial assets in foreign currencies
Cash and cash equivalents	$ 686,917	$ 3,827	$ 11,892	$ 13,999	$ 73,539	$ 237,117	$ 1,027,291
Financial assets at fair value through profit or loss	11,567,498	1,867,863	1,487,331	100,343	7,020	963,041	15,993,096
Financial assets at fair value through other comprehensive income - current	7,480,352	-	-	-	-	-	7,480,352
Bonds purchased under resale agreements	31,745	-	90,458	-	-	-	122,203
Investments under the equity method	-	-	-	2,638,949	864,240	-	3,503,189
Others	10,786,945	41,930	13,115	439	2,787	11,651	10,856,867
Financial liabilities in foreign currencies
Short-term loans	2,420,110	-	-	-	-	-	2,420,110
Financial liabilities at fair value through profit or loss	420,121	-	90,501	19,520	-	104,345	634,487
Bonds sold under repurchase agreements	16,229,270	1,718,074	1,389,673	82,960	-	276,834	19,696,811
Others	13,188,096	27,700	14,636	951,693	2,733	654,625	14,839,483

Note: As of December 31, 2025, foreign exchange rates of the above currencies to TWD were 1 USD = 31.430 TWD; 1 EUR = 36.900 TWD;
1 AUD = 21.010 TWD; 1 RMB = 4.496 TWD; and 1 HKD = 4.038 TWD, respectively.

	December 31, 2024
	USD	EUR	AUD	RMB	HKD	Others	Total
Financial assets in foreign currencies
Cash and cash equivalents	$1,133,236	$1,739	$3,611	$52,708	$93,661	$105,383	$1,390,338
Financial assets at fair value through profit or loss	7,815,374	1,045,709	1,253,627	59,368	5,297	584,888	10,764,263
Financial assets at fair value through other comprehensive income - current	3,672,278	-	-	-	-	-	3,672,278
Investments under the equity method	-	-	-	2,641,462	884,272	-	3,525,734
Others	10,408,455	13,850	10,030	391	28,450	16,290	10,477,466
Financial liabilities in foreign currencies
Short-term loans	744,220	-	-	-	-	-	744,220
Financial liabilities at fair value through profit or loss	418,230	-	-	3,385	201	3,231	425,047
Bonds sold under repurchase agreements	9,878,524	947,867	1,171,710	40,157	-	127,928	12,166,186
Others	11,763,710	9,133	9,087	403,136	28,414	309,913	12,523,393
Note: As of December 31, 2024, foreign exchange rates of the above currencies to TWD were 1 USD = 32.785 TWD; 1 EUR = 34.140 TWD; 1 AUD = 20.390 TWD; 1 RMB = 4.478 TWD; and 1 HKD = 4.222 TWD, respectively.

D. The total exchange (loss) gain, including realized and unrealized, arising from significant foreign exchange variation on the monetary items held by the Company for the years ended December 31, 2025 and 2024, amounted to ($307,578) and $393,013, respectively.

5) Fair value and hierarchy information

A. Financial instruments and non-financial instruments not measured at fair value.

Except for those listed in the table below, the carrying amounts of the Company’s financial instruments not measured at fair value (including cash and cash equivalents, bonds purchased under resale agreements, margin loans receivable, refinancing guaranty deposits, guaranteed proceeds receivable from refinancing, guaranteed price deposits for security borrowing, security borrowing deposits, notes and accounts receivable, other receivables, short-term loans, commercial paper payable, bonds sold under repurchase agreements, guarantee deposit received from short sales, guaranteed price deposits received from securities borrowers, security borrowing deposits, accounts payable, collection for others, and other payables) approximate their fair values. The fair value information of financial instruments measured at fair value is provided in Note 12(5)3.

	Total	Quoted prices of the same assets in active markets (level 1)	Other significant observable inputs (level 2)	Significant non-observable inputs (level 3)
Non-financial assets December 31, 2025
Investment property	$ 541,947	$ -	$ 541,947	$ -
December 31, 2024
Investment property	$ 532,604	$ -	$ 532,604	$ -

The fair value of investment property held by the Company was assessed by external valuation experts using comparison approach and income approach, or the fair value can be assessed based on the market price of the area adjacent to the location where the Company’s investment property is located.

B. Valuation techniques

(A) For financial instruments held for trading purposes which are classified as non-derivative instruments, their fair values are based on their quoted prices in an active market. If there is no quoted market price for reference, a valuation technique will be adopted to measure the fair value. Estimates and assumptions of valuation technique adopted by the Company are in agreement with the information of estimates and assumptions adopted by market users for financial instrument pricing and the said information shall be accessible to the Company. For those classified as derivative instruments, their fair values are based on their market prices if their quoted prices are available from an active market. If quoted market prices in an active market are not available, SWAP and IRS are valued at the discounted cash flow method, and options are valued at the Black-Scholes model.

(B) When financial assets at fair value through other comprehensive income have quoted

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market prices available in an active market, the fair value is determined using the market price.

C. Fair value hierarchy of the financial instruments

(A) Definitions for the hierarchy classifications of financial instruments measured at fair value

a. Level 1

Level 1, are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date. An active market has to satisfy all the following conditions: a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. The Company's investments in listed stocks, beneficiary certificates, on-the-run Taiwan central government bonds and derivative instruments with quoted market prices, are deemed as level 1.

b. Level 2

Inputs other than quoted market prices included within level 1 that are observable for the asset or liability, either directly or indirectly. Investments of the Company such as emerging stock without active markets, off-the-run issue of government bonds, corporate bonds, bank debentures, convertible corporate bonds, currency swaps, interest rate swaps, options, asset swaps, and most derivatives are all classified within level 2. For the years ended December 31, 2025 and 2024, there was no significant transfer of financial instruments between level 1 and level 2.

c. Level 3

Unobservable inputs for the assets or liability. The fair value of the Company's investment in unlisted stocks is included in level 3.

(Blank below)

(B) Hierarchy of fair value estimation of financial instruments

	December 31, 2025
	Total	Level 1	Level 2	Level 3
Recurring fair value
Non-derivative financial instruments
Assets
Financial assets at fair value through profit or loss - current
Stock investments	$ 36,733,008	$ 36,555,816	$ 177,192	$ -
Bond investments	38,609,750	6,181,088	32,428,662	-
Others	5,329,275	5,329,275	-	-
Financial assets at fair value through other comprehensive income - current
Stock investments	1,864,437	1,864,437	-	-
Bond investments	7,480,352	7,480,352	-	-
Financial assets at fair value through profit or loss - non-current
Bond investments	49,841	-	49,841	-
Financial assets at fair value through other comprehensive income - non-current
Stock investments	476,383	-	-	476,383
Liabilities
Financial liabilities at fair value through profit or loss - current	8,716,860	8,716,860	-	-
Derivative financial instruments
Assets
Financial assets at fair value through profit or loss - current	7,338,918	6,911,371	427,547	-
Liabilities
Financial liabilities at fair value through profit or loss - current	9,196,743	2,368,126	6,828,617	-

	December 31, 2024
	Total	Level 1	Level 2	Level 3
Recurring fair value
Non-derivative financial instruments
Assets
Financial assets at fair value through profit or loss - current
Stock investments	$19,532,104	$19,407,785	$124,319	$-
Bond investments	31,653,542	8,414,603	23,238,939	-
Others	5,563,474	5,563,474	-	-
Financial assets at fair value through other comprehensive income - current
Stock investments	823,611	823,611	-	-
Bond investments	3,672,279	3,672,279	-	-
Financial assets at fair value through profit or loss - non-current
Stock investments	1,734	-	-	1,734
Bond investments	49,437	-	49,437	-
Financial assets at fair value through other comprehensive income - non-current
Stock investments	412,862	-	-	412,862
Liabilities
Financial liabilities at fair value through profit or loss - current	7,465,737	7,465,737	-	-
Derivative financial instruments
Assets
Financial assets at fair value through profit or loss - current	4,094,539	4,034,480	60,059	-
Liabilities
Financial liabilities at fair value through profit or loss - current	6,069,973	1,757,063	4,312,910	-

Year ended December 31, 2025

	Valuation amount	Increased	Decreased	December 31
January 1	Recorded in profit or loss	Recorded in other comprehensive income (loss)	Acquired/ Issued	Transfers into level 3
Financial assets at fair value through profit or loss - non-current
Venture capital shares	$ 1,734	$ -	$ -	$ -
Financial assets at fair value through other comprehensive income - non-current
Unlisted stocks	412,862	-	63,521	-
	Year ended December 31, 2024
	Valuation amount	Increased	Decreased
January 1	Recorded in profit or loss	Recorded in other comprehensive income (loss)	Acquired/ Issued	Transfers into level 3
Financial assets at fair value through profit or loss - non-current
Venture capital shares	$ 10,004	($ 8,270)	$ -	$ -
Financial assets at fair value through other comprehensive income - non-current
Unlisted stocks	307,448	-	105,414	-

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

December 31, 2025	Fair value	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
Financial assets at fair value through other comprehensive income - non-current			Market price net profit after tax multiplier	25.19–25.86	The higher the multiplier, the higher the fair value
Unlisted stocks	$ 476,383	Market approach	Price to book ratio multiplier	3.46–4.22
			Discount for lack of marketability	25%	The higher the discount for lack of marketability, the lower the fair value
December 31, 2024	Fair value	Valuation technique	Significant unobservable input	Range (weighted average)	Relationship of inputs to fair value
Financial assets at fair value through profit or loss - non-current
Venture capital shares	$ 1,734	Net asset value	Not applicable	Not applicable	Not applicable
Financial assets at fair value through other comprehensive income - non-current			Market price net profit after tax multiplier	22.3–23.84	The higher the multiplier, the higher the fair value
			Price to book ratio multiplier	2.67–3.25
Unlisted stocks	412,862	Market approach
			Discount for lack of marketability	25%	The higher the discount for lack of marketability, the lower the fair value

(E) Valuation process for fair value at Level 3

The parent company's risk management department is responsible for the verification of fair value categorized in Level 3. The department assesses the independence, reliability, consistency and representativeness of the source information, regularly verifies the valuation models and calibrates the parameters to ensure the valuation process and results are in compliance with IFRS Accounting Standards.

(F) For the fair value measurement of Level 3, the sensitivity analysis of the fair value to the reasonable alternative hypothesis shows that the fair value measurement of the financial assets by the Company is reasonable. However, use of different valuation models or assumptions may result in different measurement. The following is the impact to profit or loss or to other comprehensive income from financial assets and liabilities categorized within Level 3 if the inputs used in valuation models have changed up or down by 1%:

Item	Recognised in profit or loss		Recognised in other comprehensive income
December 31, 2025	Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets at fair value through other comprehensive income
- non-current
Unlisted stocks	-	-	4,764 (	4,764)
Item	Recognised in profit or loss		Recognised in other comprehensive income
December 31, 2024	Favourable change	Unfavourable change	Favourable change	Unfavourable change
Financial assets at fair value through other comprehensive income
- non-current
Unlisted stocks	-	-	4,129 (	4,129)

6) Capital management

A. Objective of capital management

(A) The represented capital adequacy ratio basically shall not be lower than 200% in compliance with the warning standard addressed in the "Rules Governing Securities Firms".

(B) The Company includes all risks involved in the investment position as a part of risk management, such as market risk, credit risk, liquidity risk, operating risk, legal risk, and model risk and so on. Each risk management responsive unit should identify, evaluate, monitor and control various risks in order to enable the Company to defend impact from financial market, reflect the current operating strategies and make the investment portfolio applied to business planning and development.

B. Capital management policy and procedure

In order to secure the long-term and stable development of various businesses and effectively assume risks, the Company manages capital based on the business development, related regulations and financial market environment. Major capital evaluation processes include:

(A) Each segment should provide accurate and valid source of information to maintain calculation accuracy of capital adequacy ratio.

(B) After the reporting at the 10th of each month, capital adequacy ratio should be computed by the end of every month. If the result is close to the legal standard, every unit will be called to attend a meeting for discussion and strategic planning to ensure that the basic objective of capital adequacy ratio is not less than 200%.

(C) Both the risk limits and economic capital of the Company should be agreed by the Board of Directors. The Company should quarterly report details of risk control with disclosure of investment condition in order to assess whether the risk position exceeds the limit and whether the investment direction is in line with the market trend. Within the authorized risk limits, the Company is actively engaged in development of various businesses and continually increases profit, creates company value, and complies with the capital management objective.

The Company calculates and reports the capital adequacy ratio according to “Rules Governing Securities Firms”. As of December 31, 2025 and 2024, the capital adequacy ratios were 294%, and 332%, respectively, as required by the regulations.

7) Assets and liabilities of trust accounts

Pursuant to Article 17 of Enforcement Rules of the Trust Enterprise Act, balance sheet, income statement, and property list of trust accounts shall be disclosed in the parent company only financial statements on a semiannual basis.

A. Balance sheet of trust accounts

BALANCE SHEETS
DECEMBER 31, 2025 AND 2024

Trust assets	December 31, 2025	December 31, 2024
Bank savings	$ 590,773	$ 663,664
Structured notes	3,804,953	3,376,842
Stock	1,762,163	1,652,767
Bond	1,399,802	1,543,777
Bonds sold under repurchase agreements	28,063	28,292
Fund	12,433,924	9,855,176
Accounts receivable	130,046	80,710
Total of trust assets	$ 20,149,724	$ 17,201,228
Trust liabilities and equity	December 31, 2025	December 31, 2024
Accounts payable	$ 15,411	$ 4,301
Trust capital	16,161,284	15,075,223
Net income	4,769,026	2,822,938
Accumulated deficit	( 795,997)	( 701,234)
Total of trust liabilities and equity	$ 20,149,724	$ 17,201,228

B. Income statement of trust accounts

STATEMENTS OF INCOME
YEARS ENDED DECEMBER 31, 2025 AND 2024

Item	Year ended December 31, 2025	Year ended December 31, 2024
Trust income
Interest income	$ 184,967	$ 149,477
Cash dividends received	59,459	67,207
Investment realized gains - bond	1,078	675
Investment realized gains - stock	4,410	12,672
Investment realized gains - fund	898,642	760,651
Investment realized gains - structured notes	63,380	39,182
Investment unrealized gains - bond	36,900	14,695
Investment unrealized gains - stock	699,364	686,589
Investment unrealized gains - fund	3,266,705	1,607,888
Investment unrealized gains - structured notes	81,529	60,802
Other revenue	14	13
Subtotal	5,296,448	3,399,851
Trust expenses
Management fee	( 1,718)	( 1,587)
Service fee	( 15,076)	( 32,149)
Other expenses	( 1)	-
Investment realized loss - bond	( 26,206)	( 11,703)
Investment realized loss - stock	( 4,537)	( 3,923)
Investment realized loss - fund	( 119,472)	( 50,428)
Investment realized loss - structured notes	( 2,878)	( 2,071)
Investment unrealized loss - bond	( 65,105)	( 117,327)
Investment unrealized loss - stock	( 95,359)	( 80,285)
Investment unrealized loss - fund	( 139,658)	( 195,360)
Investment unrealized loss - structured notes	( 55,931)	( 81,001)
Income before income tax	4,770,507	2,824,017
Income tax expense	( 1,481)	( 1,079)
Net income	$ 4,769,026	$ 2,822,938

~96~

C. Property list of trust accounts

PROPERTY LIST OF TRUST ACCOUNTS
DECEMBER 31, 2025 AND 2024

Item	December 31, 2025	December 31, 2024
Bank savings	$ 590,773	$ 663,664
Structured notes	3,804,953	3,376,842
Fund	12,433,924	9,855,176
Bond	1,399,802	1,543,777
Bonds sold under repurchase agreements	28,063	28,292
Stock	1,762,163	1,652,767
Others	130,046	80,710
Total	$ 20,149,724	$ 17,201,228

OTHER DISCLOSURE ITEMS

1) Information about significant transactions

A. Lending to others: Excluding security margin trading and conditional bond trading business, there is no lending of funds to either the shareholders or other parties.
B. Endorsements and guarantees for others : None.
C. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital : None.
D. Disposals of real estate exceeding $300 million or 20 percent of contributed capital : None.
E. Purchases or sales transactions discount on brokers' charges with related parties in excess of $5 million : None.
F. Receivables from related parties exceeding $100 million or 20 percent of contributed capital : None.
G. Significant transactions between parent company and subsidiaries are provided in Note 7.

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2) Related information of investee companies

A. Related information of investee companies

Name of the investor	Name of the investee company	Location	Date of registration	Reference number and the date of approval letter issued by FSC	Major operating activities	Original investment		Ending Balance			Revenue of investee company	Net income (loss) of investee company	Investment income (loss) recognised by the Company	Cash dividends	Notes
						Balance on December 31, 2025	Balance on December 31, 2024	Shares	Percentage	Book value
President Securities Corp.	President Futures Corp.	Taipei	1994.03.01	1994.03.01 Jing-Tou-Shen (83) Gong-Shang Letter No.1114 (Note 1)	Futures brokerage and dealer	$1,098,356 (Note 4)	$644,650	73,899,647	95.82%	$3,916,088	$734,487	$527,343	$506,015	$279,539	Subsidiary of the Company
President Securities Corp.	President Capital Management Corp.	Taipei	1997.04.15	1997.02.25 (86) Tai-Cai-Zheng (4) Letter No.17769 1993.11.4 (82)	Securities investment consulting	326,000	326,000	30,000,000	100.00%	301,310	117,259	7,700	7,783	-	Subsidiary of the Company
President Securities Corp.	President Securities (HK) Ltd.	Hong Kong	1994.07.26	Tai-Cai-Zheng (2) Letter No.40913 2000.07.19 (89)	Securities dealer, brokerage, underwriting and consulting (Note 3)	848,735	848,735	192,600,000	100.00%	864,240	38	18,299	18,299	-	Subsidiary of the Company
President Securities Corp.	Uni-President Asset Management Corp.	Taipei	1992.09.03	Tai-Cai-Zheng (2) Letter No.56407	Investment Trust	667,622	667,622	14,904,630	42.46%	1,111,613	3,026,617	1,179,641	500,915	374,553	Associate
President Securities Corp.	President Insurance Agency Corp.	Taipei	2008.04.29	(Note 2)	Insurance Agent	10,000	10,000	1,000,000	100.00%	141,885	307,559	118,133	118,152	65,740	Subsidiary of the Company
President Securities Corp.	PSC Venture Capital Investment Limited Company	Taipei	2013.10.29	2013.08.08 Jing-Guan-Zheng-Chuan Letter No.1020028529	Consultation of investment management and venture capital; other unprohibited or unrestricted businesses beyond the permit	300,000	300,000	30,000,000	100.00%	258,749	17,982	6,731	6,735	-	Subsidiary of the Company
President Insurance Agency Corp.	Uni-President Asset Management Corp.	Taipei	1992.09.03	2000.07.19 (89) Tai-Cai-Zheng (2) Letter No.56407	Investment Trust	478	478	12,000	0.03%	900	3,026,617	1,179,641	403	302	Associate

Note 1: As FSC was established in July, 2004, President Futures Corp. was approved by the Investment Commission, Ministry of Economic Affairs.
Note 2: When securities corporations invest in domestic business within FSC's limitation, there is no need to obtain the approval from FSC in advance, according to Tai-Cai-Zheng (2) Letter No.0930000005. Therefore, there was no reference numbers for President Personal Insurance Agency Co., Ltd.
Note 3: The subsidiary, President Securities (HK) Ltd., was approved by the Board of Directors in March 2022 to deal with the dissolution and liquidation matters. However, the liquidation process is still ongoing. The deregistration of securities trading-related licenses has been completed on March 27, 2024, and securities-related business activities have ceased.
Note 4: Subsidiary President Futures has completed a cash capital increase on March 25, 2025. The Company participated in the subscription in the amount of $453,706 based on its shareholding ratio. The Company's original investment amount increased from $644,650 to $1,098,356, and the shareholding ratio decreased from 96.69% to 95.82%.

B. Lending to others: Excluding security margin trading and conditional bond trading business, there is no lending of funds to either the shareholders or other parties.

C. Endorsements and guarantees for others: None.
D. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital: None.
E. Disposals of real estate exceeding $300 million or 20 percent of contributed capital: None.
F. Purchases or sales transactions discount on brokers' charges with related parties in excess of $5 million: None.
G. Receivables from related parties exceeding $100 million or 20 percent of contributed capital: None.
H. Accordance with Jing-Guan-Zheng-Quan-Zi Letter No. 11303479011, the Company is required to disclose details of businesses run by foreign enterprises that were incorporated in the countries identified as non-signatories to the IOSCO MMoU or have not obtained securities or futures license of signatories to the IOSCO MMoU:
a) Revenue from engagement in consultation on assets management business, service contents and litigation: None.

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~ 99 ~

b) Balance sheets

PRESIDENT SECURITIES (HK) LTD.
BALANCE SHEETS
DECEMBER 31, 2025 AND 2024

| Assets | December 31, 2025 | | Expressed in HK dollars
December 31, 2024 | |
| --- | --- | --- | --- | --- |
| | Amount | % | Amount | % |
| Current assets | | | | |
| Cash and cash equivalents | $ 212,990,590 | 99 | $ 207,325,730 | 99 |
| Other receivables | 1,080,977 | 1 | 2,069,578 | 1 |
| Prepayments | 19,881 | - | 106,794 | - |
| Total current assets | 214,091,448 | 100 | 209,502,102 | 100 |
| Non-current assets | | | | |
| Right-of-use assets | 23,649 | - | 256,732 | - |
| Other assets - non-current | 31,600 | - | 81,600 | - |
| Total non-current assets | 55,249 | - | 338,332 | - |
| Total assets | $ 214,146,697 | 100 | $ 209,840,434 | 100 |
| Liabilities and shareholders’ equity | | | | |
| Current liabilities | | | | |
| Other payables | $ 97,400 | - | $ 128,800 | - |
| Current lease liabilities | 22,724 | - | 267,608 | - |
| Total liabilities | 120,124 | - | 396,408 | - |
| Shareholders’ equity | | | | |
| Share capital | 192,600,000 | 90 | 192,600,000 | 92 |
| Retained earnings | 16,844,026 | 8 | 13,643,939 | 6 |
| Unappropriated earnings | 4,582,547 | 2 | 3,200,087 | 2 |
| Total shareholders’ equity | 214,026,573 | 100 | 209,444,026 | 100 |
| Total liabilities and shareholders’ equity | $ 214,146,697 | 100 | $ 209,840,434 | 100 |

c) Statements of comprehensive income

PRESIDENT SECURITIES (HK) LTD.
STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

| Accounts | Year ended December 31, 2025 | | Expressed in HK dollars
Year ended December 31, 2024 | |
| --- | --- | --- | --- | --- |
| | Amount | % | Amount | % |
| Revenue | | | | |
| Interest income | $ - | - | $ 253 | - |
| Other operating income | 9,596 | - | 62,050 | 2 |
| Total revenue | 9,596 | - | 62,303 | 2 |
| Expenditures and expenses | | | | |
| Finance costs | ( 5,811) | - | ( 11,443) | - |
| Other operating expenses | ( 974,915) | ( 21) | ( 4,657,890) | ( 146) |
| Total expenditures and expenses | ( 980,726) | ( 21) | ( 4,669,333) | ( 146) |
| Non-operating gains and losses | | | | |
| Other gains and losses | 5,553,677 | 121 | 7,807,117 | 244 |
| Profit before tax | 4,582,547 | 100 | 3,200,087 | 100 |
| Income tax expense | - | - | - | - |
| Net income | $ 4,582,547 | 100 | $ 3,200,087 | 100 |

d) Transactions between related parties and foreign business : None.

3) Information of overseas branches and representative office: None
4) Disclosure of investment in Mainland China

Investee in Mainland China	Main business activities	Paid-in capital (Note 4)	Investment method (Note 1)	Accumulated amount of remittance from Taiwan to Mainland China as of January 1, 2025	Amount remitted from Taiwan to Mainland China/ Amount remitted back to Taiwan for the year ended December 31, 2025		Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Net income (loss) of investee as of December 31, 2025	Ownership held by the Company (direct or indirect)	Investment income (loss) recognized by the Company for the year ended December 31, 2025 (Note 2)	Book value of investments in Mainland China as of December 31, 2025	Accumulated amount of investment income remitted back to Taiwan as of December 31, 2025
					Remitted to Mainland China	Remitted back to Taiwan
Jin Yuan President Securities Co., Ltd.	Securities brokering, securities dealing, securities underwriting and sponsoring service	$6,744,000	Directly invest in a company in Mainland China	$ 3,138,169	$ -	$ -	$ 3,138,169	($ 25,799)	49%	($ 12,642) The financial statements that are audited by international accounting firm which has cooperative relationship with accounting firm in R.O.C.	$ 2,638,949	$ -
Company name	Accumulated amount of remittance from Taiwan to Mainland China as of December 31, 2025	Investment amount approved by the Investment Commission of the Ministry of Economic Affairs (MOEA)	Ceiling on investments in Mainland China imposed by the Investment Commission of MOEA
---	---	---	---
Jin Yuan President Securities Co.,Ltd.	$ 3,138,169	$ 3,138,169	$ 23,684,126

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

(1) Directly invest in a company in Mainland China.
(2) Through investing in an existing company in the third area, which then invested in the investee in Mainland. (Please indicate investment company in the third area.)
(3) Others.

Note 2: In the 'Investment income (loss) recognized by the Company for the year ended December 31, 2025' column:

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

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

a. The financial statements that are audited and attested by international accounting firm which has cooperative relationship with accounting firm in R.O.C.

b. The financial statements that are audited and attested by R.O.C. parent company’s CPA.

c. Others.

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

Note 4: The paid-in capital of Jin Yuan President Securities Co., Ltd. is CNY 1.5 billion.

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~103~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CASH AND CASH EQUIVALENTS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description			Amount
Checking deposits
Deposits denominated in NTD				$ 672,013
Current deposits
Deposits denominated in NTD				1,251,485
Deposits denominated in foreign currencies	USD	21,855	thousands, exchange rate: 31.430	1,027,291
	EUR	104	thousands, exchange rate: 36.900
	AUD	566	thousands, exchange rate: 21.010
	RMB	3,114	thousands, exchange rate: 4.496
	HKD	18,212	thousands, exchange rate: 4.038
	JPY	1,152,220	thousands, exchange rate: 0.201
	GBP	54	thousands, exchange rate: 42.330
	NZD	11	thousands, exchange rate: 18.150
	SGD	12	thousands, exchange rate: 24.450
	ZAR	1,572	thousands, exchange rate: 1.894
Time deposits
Deposits denominated in NTD	Maturity Date: January 11, 2026 to December 26, 2026
	interest rates: 0.680%~1.700%			1,773,600
Total				$ 4,724,389

~104~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Par value (dollar)	Cost	Unit price (dollars)	Total amount
Open-ended funds, money market instrument:
Domestic and foreign funds
Others (the balance of each security does not exceed $100,000, collectively presented)	3,539,155		$ 48,451		$ 61,121
Valuation adjustment			12,670
Total			$ 61,121
Trading securities - dealer
Stocks:
TSE Stocks
King Slide Works Co., Ltd.	28,024	$ 10	$ 101,180	$ 3,750.00	$ 105,090
DELTA ELECTRONICS, INC.	2,229,318	10	1,967,323	963.00	2,146,833
HON HAI PRECISION IND. CO., LTD.	725,645	10	163,707	230.50	167,261
TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD	4,161,742	10	5,647,268	1,550.00	6,450,700
Winbond Electronics Corp.	2,979,147	10	230,051	82.60	246,078
Accton Technology Corp.	179,998	10	198,167	1,185.00	213,298
Gold Circuit Electronics Ltd.	310,138	10	180,272	687.00	213,065
ELITE MATERIAL CO., LTD.	628,496	10	889,399	1,645.00	1,033,876
Nanya Technology Corp.	3,087,152	10	458,020	193.00	595,820
King Yuan Electronics Co., Ltd.	1,167,857	10	261,633	247.50	289,045
MediaTek Inc.	995,440	10	1,387,358	1,430.00	1,423,479
Mercuries Life Insurance Co., Ltd.	33,288,576	10	243,886	8.00	266,309
Asia Vital Components Co., Ltd.	591,590	10	739,547	1,510.00	893,301
Unimicron Technology Corp.	1,611,852	10	316,857	220.00	354,607
Global Unichip Corp.	123,106	10	256,013	2,125.00	261,600
Jentech Precision Industrial Co., Ltd.	116,701	10	329,744	2,745.00	320,344
Alchip Technologies, Ltd.	67,200	10	222,412	3,510.00	235,872
BizLink Holding Inc.	165,147	10	240,638	1,520.00	251,023
L & K Engineering Co., Ltd.	194,099	10	94,854	552.00	107,143
Wiwynn Corp.	58,626	10	243,157	4,485.00	262,938

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Par value (dollar)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
Others (the balance of each security does not exceed $100,000, collectively presented)	30,928,895		$ 2,403,051		$ 2,445,953	$ -
Subtotal			16,574,537		18,283,635	-
OTC stocks
GRAND PROCESS TECHNOLOGY CORP.	120,000	$ 10	$ 180,210	$ 1,560.00	$ 187,200	$ -
ADATA Technology Co., Ltd.	929,052	10	187,679	279.50	259,670	-
AURAS Technology Co., Ltd.	185,108	10	170,542	1,010.00	186,959	-
Taiwan Union Technology Corp.	251,744	10	102,322	494.00	124,362	-
Phison Electronics Corp.	752,533	10	863,396	1,450.00	1,091,173	-
CO-TECH DEVELOPMENT CORP.	632,253	10	155,957	277.00	175,134	-
Others (the balance of each security does not exceed $100,000, collectively presented)	2,658,161		452,341		476,171	-
Subtotal			2,112,447		2,500,669	-
Emerging stocks
SANTA PHOENIX TECHNOLOGY Co., Ltd.	775,110	10	100,565	143.45	104,934	-
Others (the balance of each security does not exceed $100,000, collectively presented)	5,617,912		189,126		178,573	-
Subtotal			289,691		283,507	-
Exchange Traded Fund
Yuanta/P-shares Taiwan Top 50 ETF	6,816,311		430,707	65.60	447,150	-
Fubon Taiwan Technology Tracker Fund	15,336,000		550,204	37.89	581,081	-
Fubon FTSE TWSE Taiwan 50 ETF	4,406,000		611,079	150.10	661,341	-
Yuanta S&P GSCI Gold ER Futures ETF	3,737,000		164,692	46.44	173,546	-
Yuanta U.S. Treasury 20+ Year Bond ETF	10,933,000		290,239	27.24	297,815	-
Cathay U.S. Treasury 20+ Year Bond ETF	3,890,000		106,260	28.30	110,087	-
CTBC U.S. Treasury 20+ Year Bond ETF	5,200,000		142,777	27.43	142,636	-
Cathay MSCI Taiwan ESG Sustainability High Dividend Yield ETF	6,711,000		145,034	21.71	145,696	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Interest rate (%)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
CAPITAL TIP CUSTOMIZED TAIWAN SELECT HIGH DIVIDEND EXCHANGE TRADED FUND	5,115,235		$ 114,710	$ 22.40	$ 114,581	$ -
CAPITAL ICE ESG 20+ YEAR BBB US CORPORATE EXCHANGE TRADED FUND	15,493,752		231,344	15.08	233,646	-
Others (the balance of each security does not exceed $100,000, collectively presented)	141,855,720		2,298,099		2,318,904	-
Subtotal			5,085,145		5,226,483	-
Unlisted stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	29,746		2,052		-	-
Bonds:
Government bonds
A14110 10-Year Central Government Bond		1.250%	197,869		197,902	-
Others (the balance of each security does not exceed $100,000, collectively presented)			49,682		49,777	-
Subtotal			247,551		247,679	-
Ordinary Corporate Bonds
P25KHFC1		4.550%	408,590		411,074	-
P25KHNP1		4.669%	377,160		378,476	-
P23KEC2		4.730%	314,300		318,050	-
P24KOBC1		4.779%	314,300		316,632	-
P25BFCM1		4.776%	314,300		313,731	-
P24KHFC1		4.670%	282,870		284,638	-
P23SHB1		4.979%	267,451		270,871	-
B402BR		2.020%	200,000		201,598	-
B644D5		1.680%	199,918		200,293	-
B903XD		0.600%	197,084		197,368	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Interest rate (%)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
P24SHB1		4.778%	$ 157,150		$ 158,517	$ -
B718AQ		1.940%	100,250		101,055	-
B903ZG		1.810%	100,000		100,835	-
B903ZS		1.900%	100,984		100,758	-
B718BF		1.700%	100,396		100,386	-
B69909		1.860%	100,000		100,314	-
B903YH		1.650%	100,000		100,164	-
B718A4		1.650%	99,838		100,144	-
B903YS		1.600%	100,000		100,006	-
Others (the balance of each security does not exceed $100,000, collectively presented)			847,164		849,522	-
Subtotal			4,681,755		4,704,432	-
Convertible corporate bonds
30455			259,650		259,988	-
Others (the balance of each security does not exceed $100,000, collectively presented)			833,702		857,351	-
Subtotal			1,093,352		1,117,339	-
Overseas securities:
US stocks
NVIDIA CORP	25,543		139,528	$ 5,861.69	149,725	-
GOOGLE INC-CL C	13,121		90,260	9,862.73	129,409	-
Others (the balance of each security does not exceed $100,000, collectively presented)	169,761		787,259		862,631	-
Subtotal			1,017,047		1,141,765	-
Overseas bonds
SUMITR FLOAT09/11/28		5.113%	234,015		234,210	-
SECO 5.225 02/18/30		5.225%	191,851		193,432	-
MEX 3 1/2 09/19/29		3.500%	166,434		165,633	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Interest rate (%)	Cost	Total amount	Changes in the fair value attributable to changes in credit risk
T 4.25 08/15/35		4.250%	$ 143,016	$ 142,562	$ -
ASBNNK FLOAT10/29/30		5.082%	136,007	135,946	-
KSA 5.125 01/13/28		5.125%	126,561	128,402	-
HANFGI 5 04/30/28		5.000%	126,393	127,833	-
NTT FLOAT 07/16/28		5.444%	126,211	126,928	-
KORELE FLOAT11/12/28		4.640%	125,759	125,702	-
T 4 11/15/35		4.000%	124,349	124,011	-
NWG 5.026 06/12/29		5.026%	123,994	123,771	-
WSTP 4 1/2 10/30/30		4.500%	114,991	113,542	-
MRK FLOAT 03/15/29		4.713%	110,186	110,243	-
KTGC 5 05/02/28		5.000%	104,431	105,803	-
ORIX 4.479 10/29/28		4.479%	107,164	105,713	-
MEXPCP 5.5 08/17/30		5.500%	103,678	104,059	-
Others (the balance of each security does not exceed $100,000, collectively presented)			8,491,939	8,539,197	-
Subtotal			10,656,979	10,706,987	-
Japan stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	155,800		222,944	229,533	-
Depository Receipt
TAIWAN SEMICONDUCTOR-SP ADR	15,809		138,892	150,995	-
Foreign index funds
Others (the balance of each security does not exceed $100,000, collectively presented)	54,850		159,530	172,567	-
Total			42,281,922	$ 44,765,591	$ -
Valuation adjustment			2,483,669
Total market price			$ 44,765,591

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Par value (dollar)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
Trading securities - underwriter
Stocks:
TSE Stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	2,954,483		$ 120,288		$ 184,843	$ -
OTC Stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	371,000		23,783		31,810	-
Bonds:
Convertible corporate bonds
31351			94,500		155,924	-
Others (the balance of each security does not exceed $100,000, collectively presented)			1,104,340		1,200,160	-
Subtotal			1,198,840		1,356,084	-
Total			1,342,911		$ 1,572,737	$ -
Valuation adjustment			229,826
Total market price			$ 1,572,737
Trading securities - hedging
Stocks:
TSE Stocks
Nan Ya Plastics Corp.	1,736,837	$ 10	$ 99,165	$ 60.20	$ 104,558	$ -
Walsin Lihwa Corp.	3,525,166	10	111,662	31.80	112,100	-
Delta Electronics, Inc.	117,060	10	106,694	963.00	112,729	-
HON HAI PRECISION IND. CO., LTD.	3,453,704	10	775,191	230.50	796,079	-
YAGEO CORP.	551,921	10	127,731	231.00	127,494	-
Taiwan Semiconductor Manufacturing Co., Ltd.	600,834	10	803,868	1,550.00	931,293	-
Winbond Electronics Corp.	3,200,639	10	182,309	82.60	264,373	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Par value (dollar)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
Accton Technology Corp.	132,392	$ 10	$ 141,170	$ 1,185.00	$ 156,885	$ -
ELITE MATERIAL CO., LTD.	65,322	10	92,438	1,645.00	107,455	-
NANYA TECHNOLOGY CORP.	1,957,414	10	239,577	193.00	377,781	-
MediaTek Inc.	328,250	10	446,698	1,430.00	469,398	-
EVERGREEN MARINE CORP. (TAIWAN) LTD.	649,132	10	122,707	190.00	123,335	-
Unimicron Technology Corp.	494,927	10	99,942	220.00	108,884	-
GLOBAL VIEW CO., LTD.	1,982,000	10	125,795	54.80	108,614	-
Wistron Corporation	1,188,359	10	167,575	150.50	178,848	-
Global Unichip Corp.	49,771	10	95,540	2,125.00	105,763	-
Alchip Technologies, Ltd.	59,095	10	196,532	3,510.00	207,423	-
Wiwynn Corp.	32,887	10	130,964	4,485.00	147,498	-
PELL BIO-MED TECHNOLOGY CO., LTD.	2,409,599	10	904,764	342.50	825,288	-
Foxwell Power Co., Ltd.	1,576,000	10	143,057	91.60	144,362	-
THUNDER TIGER CORP.	2,060,995	10	290,326	145.00	298,844	-
Others (the balance of each security does not exceed $100,000, collectively presented)	41,974,314		3,121,176		3,044,042	-
Subtotal			8,524,881		8,853,046	-
OTC stocks
C.T.I. TRAFFIC INDUSTRIES CO.,LTD.	3,329,737	10	325,056	91.90	306,003	-
CHIALIN Precision Industrial Co., Ltd.	3,171,131	10	285,824	86.80	275,254	-
HYE TECHNOLOGY CO., LTD.	1,285,000	10	108,701	87.60	112,566	-
GrandTech Cloud Services Inc.	1,157,000	10	165,287	117.00	135,369	-
HORNG TERNG AUTOMATION CO., LTD.	151,300	10	100,222	776.00	117,409	-
Phison Electronics Corp.	161,900	10	142,475	1,450.00	234,886	-
CO-TECH DEVELOPMENT CORP.	566,511	10	135,984	277.00	156,924	-
Wiselink Co., Ltd.	6,593,728	10	511,096	167.50	1,104,449	-
Others (the balance of each security does not exceed $100,000, collectively presented)	11,766,775		1,773,419		1,842,763	-
Subtotal			3,548,064		4,285,623	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Cost	Total amount	Changes in the fair value attributable to changes in credit risk
Warrants
Others (the balance of each security does not exceed $100,000, collectively presented)	19,801,000	$ 17,546	$ 35,552	$ -
Exchange traded fund
Others (the balance of each security does not exceed $100,000, collectively presented)	175,957	5,847	6,119	-
Bonds:
Convertible corporate bonds
11011		155,280	153,224	-
140202		181,212	176,376	-
14364		165,041	156,421	-
16095		104,202	102,489	-
20344		130,225	134,600	-
21043		212,562	203,102	-
22013		615,896	562,166	-
22471		105,412	104,817	-
22472		102,354	100,110	-
23683		540,686	584,961	-
24394		121,270	114,202	-
25483		187,182	190,176	-
25484		109,844	111,405	-
30371		120,324	134,183	-
30454		110,000	109,197	-
30455		106,689	106,191	-
31311		108,542	113,882	-
31351		133,988	171,600	-
33245		216,673	271,950	-
33881		103,766	102,604	-
36173		102,156	105,462	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Interest rate (%)	Cost	Unit price (dollars)	Total amount	Changes in the fair value attributable to changes in credit risk
36913		$ 184,133		$ 178,714	$ -
37022		178,642		174,326	-
37023		110,729		108,878	-
41903		113,035		112,980	-
50097		357,804		329,941	-
53887		189,158		175,174	-
54573		272,140		241,643	-
61635		154,263		294,736	-
62695		138,819		134,368	-
62745		175,210		187,276	-
62822		278,596		284,647	-
64145		230,181		232,152	-
68901		187,369		180,120	-
69571		155,926		162,025	-
811210		119,504		122,064	-
81551		127,106		148,297	-
84041		103,475		102,920	-
84781		163,320		133,051	-
99332		241,778		239,981	-
99412		392,947		377,320	-
99587		174,580		161,568	-
Others (the balance of each security does not exceed $100,000, collectively presented)			6,748,690	6,538,626	-
Subtotal			14,530,709	14,429,925	-
Corporate bond
B99607	3.70%	2,000,000		2,013,371	-
B99509	3.70%	1,260,000		1,266,405	-
B99507	3.70%	1,000,000		1,009,401	-
B99513	3.70%	990,000		999,706	-
B99504	3.85%	510,013		510,020	-

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Interest rate (%)	Cost	Total amount	Changes in the fair value attributable to changes in credit risk
B99207		3.80%	$ 150,000	$ 151,669	$ -
Others (the balance of each security does not exceed $100,000, collectively presented)			90,000	90,695	-
Subtotal			6,000,013	6,041,267	-
Overseas securities:
US stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	214,252		342,202	348,080	-
Foreign Bonds
Others (the balance of each security does not exceed $100,000, collectively presented)		10.860%	6,097	6,034	-
Foreign index fund
Others (the balance of each security does not exceed $100,000, collectively presented)	1,125		8,337	8,009	-
Global depositary receipt
Others (the balance of each security does not exceed $100,000, collectively presented)	2,050		2,815	2,836	-
Japan stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	318,400		115,972	147,136	-

~115~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Units, shares or certificates	Cost	Total amount	Changes in the fair value attributable to changes in credit risk
Korea Stocks
Others (the balance of each security does not exceed $100,000, collectively presented)	23,000	$ 51,256	$ 108,957	$ -
Subtotal		33,153,739	$ 34,272,584	$ -
Valuation adjustment		1,118,845
Total market price		$ 34,272,584
Total		$ 80,672,033	$ 80,672,033	$ -

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Shares or certificates	Par value	Interest rate (%)	Cost	Fair value
					Unit price (dollars)	Total amount
Stocks:
TSE Stocks
UNI-PRESIDENT ENTERPRISES CORP.	1,266,000	$ 10		$ 99,940	$ 77.10	$ 97,608
Cheng Shin Rubber Ind., Co., Ltd.	550,000	10		25,357	29.50	16,225
HON HAI PRECISION IND. CO., LTD.	626,000	10		73,990	230.50	144,293
Taiwan Semiconductor Manufacturing Co., Ltd.	667,000	10		189,812	1,550.00	1,033,850
ASUSTEK COMPUTER INC.	105,000	10		56,141	548.00	57,540
QUANTA COMPUTER INC.	418,000	10		79,992	272.00	113,696
CHICONY ELECTRONICS CO., LTD.	721,000	10		110,549	117.00	84,357
MediaTek Inc.	64,000	10		77,610	1,430.00	91,520
CTBC FINANCIAL HOLDING CO., LTD.	4,489,000	10		154,975	50.20	225,348
Total				868,366		1,864,437
Valuation adjustment				996,071
Total market price				1,864,437
Overseas bonds:
T 4.875 10/31/28			4.875%	4,798,660		4,882,270
T 4.5 11/15/33			4.500%	2,539,016		2,598,082
Total				7,337,676		7,480,352
Valuation adjustment				142,676
Total market price				7,480,352
Total				$ 9,344,789		$ 9,344,789

PRESIDENT SECURITIES CORPORATION
STATEMENT OF DERIVATIVES INSTRUMENTS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of derivatives instruments	Description	Fair value	Remark
Derivatives assets
Derivative financial instrument assets - OTC
IRS asset swaps		$ 43,204	Note 1
Options bought		347,617	Note 1
Structured products		21	Note 1
Currency derivative instruments		36,705	Note 1
Subtotal		427,547
Future
Options bought - futures		1,166	Note 1
Futures Margin - Own Funds	President Futures Corp.	6,680,656	Note 1
	Capital Securities Corp.	52,981	Note 1
	Yuanta Futures Co. Ltd.	77,445	Note 1
	KGI Securities Co. Ltd.	99,123	Note 1
Total		6,911,371
Total derivatives assets		$ 7,338,918
Derivative liabilities
Derivative financial instrument liabilities - OTC
IRS asset swaps		$ 134,096	Note 2
Options sold		4,047,238	Note 2
Structured products		2,641,349	Note 2
Currency derivative instruments		5,933	Note 2
Subtotal		6,828,616
Call (put) warrants
Issuance of call (put) warrants		1,972,496	Note 2
ETNs
Issuance of ETNs		395,631	Note 2
Total derivative liabilities		$ 9,196,743

Note 1 : shown as “Financial assets at fair value through profit or loss – current”.
Note 2 : shown as “Financial liabilities at fair value through profit or loss – current”.

~117~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF MARGIN LOANS RECEIVABLE
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of securities	Shares	Amount
Taiwan Semiconductor Manufacturing Co., Ltd	1,617,000	$ 1,077,694
Unimicron Technology Corp.	9,042,000	972,541
NANYA TECHNOLOGY CORP.	8,744,000	833,533
Alchip Technologies, Limited	319,000	648,506
MediaTek Inc.	818,000	581,068
Global Unichip Corp.	432,000	521,301
Phison Electronics Corp.	708,000	504,335
Winbond Electronics Corp.	11,022,000	441,632
Hon Hai Precision Industry Co., Ltd.	2,529,000	350,964
Wistron Corp.	3,497,000	276,746
Others	392,712,000	17,806,898
Less: Allowance for uncollectible accounts		( 14,313 )
Total		$ 24,000,905

~118~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF ACCOUNTS RECEIVABLE
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Client	Description	Amount	Remark
Related party:
President Futures Corp.		$ 3,673
Others		398
		$ 4,071
Non-related party:
Settlement price receivable-brokers
Others		$ 24,563,467
Settlement price
Taiwan Stock Exchange Corporation		1,704,791
Taiwan Depository & Clearing Corporation		28,973
		1,733,764
Settlement price receivable-dealer
Taiwan Stock Exchange Corporation		3,166,983
Others		1,687,365
		4,854,348
Settlement price receivable-unrestricted purposes
Others		31,167
Settlement price receivable-sub-brokerage
Others		18,533
Spot exchange receivable, foreign currencies
Others		3,813
Settlement price receivable-Foreign Bonds
Others		10,358,762
Interest receivable
Others		825,899
Dividends receivable
Others		39,226
Others		229,940
Less: Allowance for uncollectible accounts		( 234 )
Total		$ 42,658,685

Note: The balance of single client does not exceed 5% of the balance of account is listed as others.

~119~

~120~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF OTHER CURRENT ASSETS

DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Pending settlements		$ 470,427
Pledged time deposits		500,000
Deposits-in for foreign currency securities		61,984
Underwriting share proceeds collected on behalf of customers		10
Amounts held for each customer in the account		4,403,289
Others		31,178
Total		$ 5,466,888

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - NON-CURRENT
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Beginning balance		Increased		Decreased		Ending balance		Collateral
	Shares or certificates	Fair value	Shares or certificates	Amount	Shares or certificates	Amount	Shares or certificates	Fair value
Stocks:
Unlisted stocks
HUA VI VENTURE	43,478	$ 1,734		$ - (	43,478 )	( $ 1,734 )	-	$ -	No
CAPITAL CORPORATION
Bonds:
Government bonds
A11106		49,437		404		-		49,841	Yes (Note)
Total		$ 51,171		$ 404		( $ 1,734 )		$ 49,841

Note: Applying for guarantee for trust fund.

~121~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - NON-CURRENT
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Beginning balance		Increased		Decreased		Ending balance		Collateral
	Shares or certificates	Fair value	Shares or certificates	Amount	Shares or certificates	Amount	Shares or certificates	Fair value
Stocks:
Unlisted stocks
Taiwan Depository & Clearing Corporation	1,895,208	$ 276,511	568,562	$ 38,876	-	$ -	2,463,770	$ 315,387	No
Taiwan Futures Exchange Corporation	1,244,082	136,351	199,053	24,645	-	-	1,443,135	160,996	No
Total		$ 412,862		$ 63,521		$ -		$ 476,383

~122~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN INVESTMENTS ACCOUNTED FOR UNDER THE EQUITY METHOD
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name	Beginning balance		Increased		Decreased		Ending balance			Market value or net equity value
	Shares	Amount	Shares	Amount (Note 1)	Shares	Amount (Note 2)	Shares	Shareholding ratio	Amount	Unit price (dollars)	Total amount
President Futures Corp.	63,817,303	$ 3,053,127	10,082,344	$ 1,142,560	- ($ 279,599)	73,899,647	95.82%	$ 3,916,088	$ 52.99	$ 3,916,088	No
President Capital Management Corp.	30,000,000	292,986	-	8,324	- ( - )	30,000,000	100.00%	301,310	10.04	301,310	No
President Securities (HK) Ltd.	192,600,000	884,272	-	18,299	- ( 38,331)	192,600,000	100.00%	864,240	4.49	864,240	No
Uni-President Asset Management Corp.	14,904,630	969,373	-	519,229	- ( 376,989)	14,904,630	42.46%	1,111,613	62.55	932,241	No
PSC Venture Capital Investment Limited Company	30,000,000	252,014	-	6,735	- ( - )	30,000,000	100.00%	258,749	8.62	258,749	No
President Insurance Agency Corp.	1,000,000	89,460	-	118,167	- ( 65,742)	1,000,000	100.00%	141,885	141.89	141,885	No
Jin Yuan President Securities Co., Ltd.	-	2,641,462	-	10,129	- ( 12,642)	-	49.00%	2,638,949	-	2,638,949	No
Total		$ 8,182,694		$ 1,823,443	($ 773,303)			$ 9,232,834		$ 9,053,462

Note 1: These are shares of the profit accounted for under the equity method, investments in accounted for under the equity method and other comprehensive gain of subsidiaries, associates, and joint ventures accounted for under the equity method.
Note 2: These are shares of the loss accounted for under the equity method, dividends received and other comprehensive loss of subsidiaries, associates, and joint ventures accounted for under the equity method.

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN PROPERTY, PLANT AND EQUIPMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance	Collateral
Land	$ 1,631,492	$ -	$ -	$ 1,631,492	Note 1
Buildings	1,091,412	20,722	( 19,067)	1,093,067	Note 2
Equipment	498,904	142,504	( 73,638)	567,770	No
Leasehold improvements	28,898	53,478	( 903)	81,473	No
Total	$ 3,250,706	$ 216,704	( $ 93,608)	$ 3,373,802

Note 1: The amount of land pledged as security for short-term loans and guarantees for issuance of commercial papers is $959,788.
Note 2: The amount of buildings pledged as security for short-term loans and guarantees for issuance of commercial papers is $115,182.

~124~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance	Remark
Buildings	($ 543,373)	($ 40,962)	$ 19,067	($ 565,268)	Notes 1 and 2
Equipment	( 239,561)	( 128,133)	73,619	( 294,075)	Notes 1 and 3
Leasehold improvements	( 5,464)	( 10,180)	600	( 15,044)	Notes 1 and 4
Total	($ 788,398)	($ 179,275)	$ 93,286	($ 874,387)

Note 1: Property and equipment are depreciated using the straight-line method to allocate their cost over their estimated useful lives.
Note 2: The useful lives of buildings are 5 to 50 years.
Note 3: The useful lives of equipment are 3 to 10 years.
Note 4: The useful lives of leasehold improvements are 5 years.

~125~

~126~

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN RIGHT-OF-USE ASSETS

FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance
Buildings	$ 318,686	$ 78,984	($ 61,856)	$ 335,814
Transportation equipment
(Business vehicles)	22,318	2,321	( 1,296)	23,343
Office equipment
(Photocopiers)	11,409	13,698	( 10,148)	14,959
Total	$ 352,413	$ 95,003	($ 73,300)	$ 374,116

PRESIDENT SECURITIES CORPORATION
STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF RIGHT-OF-USE ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance
Accumulated depreciation - Buildings	($ 122,947)	($ 73,599)	$ 56,530	($ 140,016)
Accumulated depreciation - Transportation equipment (Business vehicles)	( 6,953)	( 4,626)	1,296	( 10,283)
Accumulated depreciation - Office equipment (Photocopiers)	( 9,736)	( 2,397)	10,083	( 2,050)
Total	($ 139,636)	($ 80,622)	$ 67,909	($ 152,349)

~127~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF LEASE LIABILITIES
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Lease period	Discount rate	Ending balance
Current lease liabilities
Buildings	Office and parking space	2021/04-2035/02	0.571%~2.0525%	$ 64,548
Business vehicles	Business vehicles	2021/05-2030/12	0.571%~1.8781%	4,270
Equipment	Office equipment	2019/08-2030/07	0.571%~1.8781%	2,887
Subtotal				71,705
Non-current lease liabilities
Buildings	Office and parking space	2021/04-2035/02	0.571%~2.0525%	124,425
Business vehicles	Business vehicles	2021/05-2030/12	0.571%~1.8781%	8,971
Equipment	Office equipment	2019/08-2030/07	0.571%~1.8781%	10,089
Subtotal				143,485
Total				$ 215,190

~128~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF SHORT-TERM LOANS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Type of loan	Ending balance	Contract term	Interest rate	Loan Commitment	Collateral
Unsecured loans	$ 6,334,360	Due within one year	1.72%~4.47%	$ 21,367,180
Secured loans	970,000	Due within one year	1.84%	4,500,000	Time deposits, real estate
Call loan	785,750	Due within one year	4.29%~4.35%	4,148,760
Total	$ 8,090,110			$ 30,015,940

~129~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF ACCOUNTS PAYABLE
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of client	Description	Amount	Remark
Non-related parties:
Settlement accounts payable - brokered trading
Others		$ 25,068,178
Settlement proceeds
Taiwan Stock Exchange Corporation		1,728,704
Taiwan Depository & Clearing Corporation		52,155
		1,780,859
Settlement accounts payable - operating
Taiwan Stock Exchange Corporation		3,938,094
Others		163,915
		4,102,009
Spot exchange payable, foreign currencies
Others		3,813
Settlement accounts payable - foreign bonds
Others		10,354,886
Others		328,362
Total		$ 41,638,107

Note: The balance of single client does not exceed 5% of the balance of account is listed as others.

~130~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
A12101	20251209	20260109	1.15%	Central Government Bonds	$ 44,200	$ 49,085
A14110	20251223	20260105	1.20%	Central Government Bonds	90,100	100,000
A14110	20251224	20260126	1.15%	Central Government Bonds	108,100	120,000
B20258	20251223	20260115	1.49%	Ordinary Corporate Bonds	100,000	100,000
B402BJ	20251203	20260106	1.50%	Ordinary Corporate Bonds	100,000	100,108
B402BR	20251219	20260119	1.50%	Ordinary Corporate Bonds	200,000	200,000
B501A1	20251219	20260115	1.49%	Ordinary Corporate Bonds	100,000	100,000
B50199	20251219	20260115	1.49%	Ordinary Corporate Bonds	100,000	100,000
B618D1	20251209	20260108	1.50%	Ordinary Corporate Bonds	50,000	50,970
B644DB	20251224	20260128	1.50%	Ordinary Corporate Bonds	50,000	51,007
B644D5	20251215	20260116	1.50%	Ordinary Corporate Bonds	100,000	102,580
B644D5	20251203	20260105	1.46%	Ordinary Corporate Bonds	100,000	93,000
B69909	20251203	20260105	1.50%	Ordinary Corporate Bonds	100,000	100,000
B702AP	20251128	20260102	1.50%	Ordinary Corporate Bonds	100,000	100,000
B718AQ	20251211	20260114	1.50%	Ordinary Corporate Bonds	100,000	101,722
B718A4	20251215	20260115	1.50%	Ordinary Corporate Bonds	100,000	102,112
B718BF	20251212	20260112	1.50%	Ordinary Corporate Bonds	100,000	100,000
B903XD	20251205	20260107	1.50%	Ordinary Corporate Bonds	200,000	200,000
B903YE	20251224	20260129	1.50%	Ordinary Corporate Bonds	50,000	51,033
B903YH	20251219	20260122	1.50%	Ordinary Corporate Bonds	100,000	101,513
B903YS	20251212	20260109	1.48%	Ordinary Corporate Bonds	100,000	100,000
B903ZG	20251209	20260112	1.50%	Ordinary Corporate Bonds	100,000	101,794
B903ZS	20251216	20260121	1.50%	Ordinary Corporate Bonds	100,000	100,895
B99207	20251029	20260304	1.62%	Ordinary Corporate Bonds	110,000	110,910
B99504	20251111	20260109	1.61%	Ordinary Corporate Bonds	400,000	300,000
B99507	20251231	20260114	1.60%	Ordinary Corporate Bonds	100,000	79,984
B99507	20251217	20260120	1.60%	Ordinary Corporate Bonds	100,000	100,000
B99507	20251215	20260113	1.59%	Ordinary Corporate Bonds	250,000	250,000
B99507	20251205	20260106	1.61%	Ordinary Corporate Bonds	100,000	100,229
B99507	20251208	20260107	1.61%	Ordinary Corporate Bonds	200,000	200,920

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
B99507	20251209	20260108	1.61%	Ordinary Corporate Bonds	$ 50,000	$ 50,176
B99509	20251209	20260108	1.61%	Ordinary Corporate Bonds	200,000	200,705
B99509	20251210	20260109	1.62%	Ordinary Corporate Bonds	300,000	301,308
B99509	20251212	20260112	1.62%	Ordinary Corporate Bonds	200,000	201,670
B99509	20251215	20260113	1.62%	Ordinary Corporate Bonds	300,000	301,404
B99513	20251210	20260107	1.60%	Ordinary Corporate Bonds	40,000	40,063
B99513	20251219	20260116	1.60%	Ordinary Corporate Bonds	50,000	50,084
B99513	20251205	20260106	1.59%	Ordinary Corporate Bonds	100,000	100,114
B99513	20251211	20260116	1.60%	Ordinary Corporate Bonds	200,000	200,000
B99513	20251204	20260105	1.61%	Ordinary Corporate Bonds	200,000	200,110
B99513	20251205	20260106	1.61%	Ordinary Corporate Bonds	200,000	200,472
B99604	20251029	20260304	1.62%	Ordinary Corporate Bonds	50,000	50,507
B99604	20251029	20260306	1.61%	Ordinary Corporate Bonds	20,000	20,000
B99607	20251105	20260105	1.61%	Ordinary Corporate Bonds	100,000	75,000
B99607	20251003	20260127	1.62%	Ordinary Corporate Bonds	250,000	250,000
B99607	20251015	20260204	1.62%	Ordinary Corporate Bonds	200,000	201,304
B99607	20251020	20260205	1.61%	Ordinary Corporate Bonds	200,000	201,222
B99607	20251023	20260305	1.61%	Ordinary Corporate Bonds	200,000	201,365
B99607	20251029	20260304	1.62%	Ordinary Corporate Bonds	80,000	80,196
B99607	20251203	20260318	1.61%	Ordinary Corporate Bonds	400,000	401,289
B99607	20251008	20260122	1.62%	Ordinary Corporate Bonds	100,000	100,000
B99607	20251205	20260305	1.61%	Ordinary Corporate Bonds	70,000	70,177
35267	20251117	20260113	1.60%	Convertible Corporate Bonds	20,000	20,000
16095	20251218	20260119	1.60%	Convertible Corporate Bonds	50,000	50,000
37022	20251209	20260108	1.60%	Convertible Corporate Bonds	50,000	50,062
37022	20251211	20260129	1.60%	Convertible Corporate Bonds	30,000	30,000
37022	20251209	20260129	1.57%	Convertible Corporate Bonds	40,000	40,000
99332	20251218	20260115	1.60%	Convertible Corporate Bonds	20,000	20,000
99332	20251231	20260121	1.59%	Convertible Corporate Bonds	60,000	60,000
99332	20251204	20260122	1.59%	Convertible Corporate Bonds	100,000	100,000

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
99332	20251216	20260127	1.60%	Convertible Corporate Bonds	$ 30,000	$ 30,000
53887	20251231	20260120	1.60%	Convertible Corporate Bonds	100,000	100,000
20344	20251209	20260108	1.60%	Convertible Corporate Bonds	30,000	30,037
20344	20251231	20260122	1.59%	Convertible Corporate Bonds	50,000	50,000
99587	20251210	20260114	1.60%	Convertible Corporate Bonds	110,000	110,700
99588	20251223	20260123	1.60%	Convertible Corporate Bonds	50,000	50,000
11011	20251218	20260115	1.60%	Convertible Corporate Bonds	50,000	50,000
11011	20251217	20260116	1.60%	Convertible Corporate Bonds	30,000	30,252
62695	20251231	20260121	1.59%	Convertible Corporate Bonds	80,000	80,000
62696	20251210	20260121	1.60%	Convertible Corporate Bonds	30,000	30,017
62745	20251209	20260306	1.60%	Convertible Corporate Bonds	70,000	70,000
30455	20251002	20260109	1.60%	Convertible Corporate Bonds	20,000	20,000
30454	20251106	20260109	1.60%	Convertible Corporate Bonds	20,000	20,028
30454	20251226	20260119	1.60%	Convertible Corporate Bonds	20,000	20,033
31311	20251217	20260309	1.60%	Convertible Corporate Bonds	50,000	50,000
31312	20251217	20260309	1.60%	Convertible Corporate Bonds	30,000	30,000
33121	20251231	20260122	1.59%	Convertible Corporate Bonds	50,000	50,000
68631	20251230	20260109	1.60%	Convertible Corporate Bonds	30,000	30,145
64422	20251217	20260309	1.60%	Convertible Corporate Bonds	40,000	40,000
61828	20251111	20260112	1.60%	Convertible Corporate Bonds	30,000	30,073
22471	20251117	20260109	1.60%	Convertible Corporate Bonds	20,000	20,000
22471	20251114	20260114	1.60%	Convertible Corporate Bonds	30,000	30,000
22472	20251210	20260109	1.60%	Convertible Corporate Bonds	30,000	30,059
22472	20251209	20260112	1.60%	Convertible Corporate Bonds	20,000	20,000
84041	20251111	20260112	1.60%	Convertible Corporate Bonds	20,000	20,031
84041	20251112	20260113	1.60%	Convertible Corporate Bonds	20,000	20,000
811210	20251231	20260121	1.59%	Convertible Corporate Bonds	60,000	60,000
99392	20251114	20260114	1.60%	Convertible Corporate Bonds	20,000	20,000
61973	20251111	20260112	1.60%	Convertible Corporate Bonds	30,000	30,046
68901	20251215	20260114	1.59%	Convertible Corporate Bonds	100,000	100,000

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
84781	20251209	20260108	1.60%	Convertible Corporate Bonds	$ 20,000	$ 20,025
84781	20251210	20260109	1.60%	Convertible Corporate Bonds	70,000	70,138
30371	20251201	20260109	1.60%	Convertible Corporate Bonds	30,000	30,071
30371	20251117	20260113	1.60%	Convertible Corporate Bonds	30,000	30,014
23683	20251211	20260116	1.60%	Convertible Corporate Bonds	20,000	20,018
23683	20251205	20260305	1.60%	Convertible Corporate Bonds	250,000	250,000
23683	20251209	20260306	1.60%	Convertible Corporate Bonds	50,000	50,000
54573	20251215	20260116	1.62%	Convertible Corporate Bonds	50,000	50,000
54573	20251226	20260119	1.60%	Convertible Corporate Bonds	50,000	50,150
54573	20251230	20260119	1.59%	Convertible Corporate Bonds	100,000	100,208
24394	20251210	20260114	1.60%	Convertible Corporate Bonds	50,000	50,318
21043	20251215	20260107	1.60%	Convertible Corporate Bonds	10,000	10,000
21043	20251222	20260121	1.60%	Convertible Corporate Bonds	40,000	40,000
21043	20251224	20260123	1.60%	Convertible Corporate Bonds	100,000	100,780
33881	20251226	20260119	1.60%	Convertible Corporate Bonds	30,000	30,049
62822	20251205	20260105	1.60%	Convertible Corporate Bonds	100,000	100,000
62822	20251205	20260123	1.60%	Convertible Corporate Bonds	50,000	50,000
81551	20251124	20260115	1.60%	Convertible Corporate Bonds	20,000	20,020
81551	20251211	20260116	1.60%	Convertible Corporate Bonds	20,000	20,018
68061	20251112	20260113	1.60%	Convertible Corporate Bonds	25,000	25,181
25483	20251215	20260114	1.59%	Convertible Corporate Bonds	100,000	100,000
25484	20251231	20260122	1.59%	Convertible Corporate Bonds	60,000	60,000
23511	20251111	20260112	1.60%	Convertible Corporate Bonds	20,000	20,005
33763	20251223	20260123	1.60%	Convertible Corporate Bonds	30,000	30,000
22013	20251205	20260105	1.60%	Convertible Corporate Bonds	50,000	50,000
22013	20251211	20260106	1.60%	Convertible Corporate Bonds	50,000	50,000
22013	20251209	20260108	1.57%	Convertible Corporate Bonds	100,000	100,000
22013	20251231	20260113	1.60%	Convertible Corporate Bonds	100,000	100,000
22013	20251231	20260113	1.60%	Convertible Corporate Bonds	30,000	30,000
22013	20251210	20260121	1.60%	Convertible Corporate Bonds	70,000	70,029

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
22013	20251216	20260127	1.60%	Convertible Corporate Bonds	$ 15,000	$ 15,000
69571	20251113	20260109	1.60%	Convertible Corporate Bonds	30,000	30,050
99412	20251212	20260108	1.60%	Convertible Corporate Bonds	50,000	50,000
99412	20251229	20260120	1.59%	Convertible Corporate Bonds	100,000	100,038
99412	20251231	20260204	1.61%	Convertible Corporate Bonds	60,000	60,000
99412	20251231	20260209	1.61%	Convertible Corporate Bonds	90,000	90,000
98026	20251124	20260115	1.60%	Convertible Corporate Bonds	20,000	20,020
50097	20251212	20260109	1.60%	Convertible Corporate Bonds	50,000	50,000
50097	20251217	20260116	1.60%	Convertible Corporate Bonds	70,000	70,588
50097	20251218	20260119	1.60%	Convertible Corporate Bonds	50,000	50,000
50097	20251231	20260122	1.59%	Convertible Corporate Bonds	50,000	50,000
36173	20251209	20260306	1.60%	Convertible Corporate Bonds	50,000	50,000
36913	20251114	20260114	1.60%	Convertible Corporate Bonds	20,000	20,000
36913	20251223	20260122	1.60%	Convertible Corporate Bonds	100,000	100,000
84113	20251114	20260114	1.60%	Convertible Corporate Bonds	30,000	30,000
140201	20251209	20260108	1.57%	Convertible Corporate Bonds	15,000	15,000
140201	20251218	20260115	1.60%	Convertible Corporate Bonds	20,000	20,000
140202	20251211	20260129	1.60%	Convertible Corporate Bonds	60,000	60,000
64145	20251218	20260115	1.60%	Convertible Corporate Bonds	30,000	30,000
64145	20251216	20260127	1.60%	Convertible Corporate Bonds	80,000	80,000
64145	20251211	20260129	1.60%	Convertible Corporate Bonds	20,000	20,000
41684	20251223	20260123	1.60%	Convertible Corporate Bonds	20,000	20,000
33245	20251110	20260109	1.60%	Convertible Corporate Bonds	30,000	30,000
33245	20251215	20260116	1.62%	Convertible Corporate Bonds	100,000	100,000
41372	20251117	20260113	1.60%	Convertible Corporate Bonds	20,000	20,000
P23KEC2	20251211	20261111	3.95%	International Bonds (USD)	78,575	71,715
P23KEC2	20251211	20261111	3.90%	International Bonds (USD)	235,725	217,513
P24SHB1	20251217	20260108	4.15%	International Bonds (USD)	157,150	151,830
P25ADCBU1	20251211	20261111	3.90%	International Bonds (USD)	88,004	80,965
P25ADCBU2	20251211	20261111	3.90%	International Bonds (USD)	88,004	80,644

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
P24KOBC1	20251217	20260108	4.15%	International Bonds (USD)	$ 314,300	$ 302,765
P24KHFC1	20251217	20260108	4.15%	International Bonds (USD)	282,870	271,951
P25KHFC1	20251211	20261111	3.90%	International Bonds (USD)	125,720	115,435
P25KHFC1	20251211	20261111	3.90%	International Bonds (USD)	125,720	115,435
P25KHFC1	20251211	20261111	3.90%	International Bonds (USD)	157,150	144,294
P25KHNP1	20251211	20261111	3.90%	International Bonds (USD)	125,720	115,549
P25KHNP1	20251211	20261111	3.90%	International Bonds (USD)	125,720	115,549
P25KHNP1	20251211	20261111	3.90%	International Bonds (USD)	125,720	115,549
P25BFCM1	20251211	20261111	3.90%	International Bonds (USD)	157,150	143,865
P25BFCM1	20251211	20261111	3.90%	International Bonds (USD)	157,150	143,865
P23SHB1	20251203	20260106	4.14%	International Bonds (USD)	240,125	232,909
P23SHB1	20251104	20260106	4.10%	International Bonds (USD)	15,715	16,419
P23SHB1	20251107	20260107	4.10%	International Bonds (USD)	5,029	5,358
P23SHB1	20251117	20260120	4.15%	International Bonds (USD)	6,286	6,286
CBAAU 4 3/4 01/09/30	20250310	20260210	3.85%	Foreign Bonds (AUD)	10,505	9,780
SHINCA 5.05 10/22/27	20250521	20260421	3.90%	Foreign Bonds (AUD)	42,020	38,523
SHINCA 5.05 10/22/27	20250521	20260421	3.90%	Foreign Bonds (AUD)	50,424	46,228
VW 5.55 06/14/28	20250521	20260421	3.90%	Foreign Bonds (AUD)	10,505	9,923
ARTAUS5.598 06/12/31	20250521	20260421	3.90%	Foreign Bonds (AUD)	21,010	19,817
VW 5.55 06/14/28	20250521	20260421	3.85%	Foreign Bonds (AUD)	10,505	9,923
VW 5.55 06/14/28	20250521	20260421	3.90%	Foreign Bonds (AUD)	10,505	9,923
EIBKOR 5.25 05/20/31	20250521	20260421	3.90%	Foreign Bonds (AUD)	21,010	19,635
ENBW 5.302 10/30/29	20250521	20260421	3.90%	Foreign Bonds (AUD)	21,010	19,635
NAB 5.2 11/16/26	20250521	20260421	3.90%	Foreign Bonds (AUD)	21,010	19,463
EBIUH 5.913 06/18/35	20250624	20260525	3.90%	Foreign Bonds (AUD)	52,525	48,454
PONEIV 6.1 07/18/33	20250721	20260622	3.90%	Foreign Bonds (AUD)	63,030	62,045
CNHI 5.4 05/17/27	20250813	20260713	3.85%	Foreign Bonds (AUD)	21,010	19,874
EIBKOR 5.25 05/20/31	20250813	20260713	3.85%	Foreign Bonds (AUD)	10,505	10,123
UBS 5.57 11/24/26	20250813	20260713	3.85%	Foreign Bonds (AUD)	21,010	20,614
INDKOR4.826 02/27/30	20250813	20260713	3.85%	Foreign Bonds (AUD)	13,657	13,088

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
VW 5.55 06/14/28	20250813	20260713	3.85%	Foreign Bonds (AUD)	$ 10,505	$ 9,949
CGJAU 5.546 10/07/32	20250813	20260713	3.85%	Foreign Bonds (AUD)	10,505	10,142
AIRSER 5.45 05/15/35	20250813	20260713	3.90%	Foreign Bonds (AUD)	42,020	40,444
ORIX 4.987 02/28/28	20250813	20260713	3.85%	Foreign Bonds (AUD)	42,020	39,942
PONEIV 6.1 07/18/33	20250909	20260810	3.90%	Foreign Bonds (AUD)	21,010	20,037
ANZ 4.65 02/18/30	20250915	20260817	3.80%	Foreign Bonds (AUD)	21,010	19,305
NAB FLOAT 10/16/28	20251017	20260917	3.89%	Foreign Bonds (AUD)	42,020	37,807
ORIX 4.479 10/29/28	20251030	20260930	3.90%	Foreign Bonds (AUD)	44,121	40,502
NAB 4.1 10/16/28	20251103	20261005	3.86%	Foreign Bonds (AUD)	21,010	19,316
ORIX 4.479 10/29/28	20251103	20261005	3.90%	Foreign Bonds (AUD)	21,010	19,296
ORIX 4.479 10/29/28	20251103	20261005	3.90%	Foreign Bonds (AUD)	42,020	38,593
VW 5.108 06/13/29	20251110	20261012	3.86%	Foreign Bonds (AUD)	21,010	19,751
INDKOR4.826 02/27/30	20251114	20261014	3.88%	Foreign Bonds (AUD)	21,010	20,436
WSTP FLOAT 10/30/30	20251114	20261014	3.85%	Foreign Bonds (AUD)	21,010	19,968
WSTP 4 1/2 10/30/30	20251114	20261014	3.85%	Foreign Bonds (AUD)	21,010	19,878
WSTP FLOAT 10/30/30	20251114	20261014	3.85%	Foreign Bonds (AUD)	42,020	39,937
WSTP 4 1/2 10/30/30	20251114	20261014	3.85%	Foreign Bonds (AUD)	31,515	29,817
SCGAU 5.35 09/18/35	20251118	20261019	3.85%	Foreign Bonds (AUD)	21,010	18,966
ACGB 4.25 06/21/34	20251120	20261020	3.70%	Foreign Bonds (AUD)	21,010	20,862
EBIUH 5.913 06/18/35	20251125	20261027	3.80%	Foreign Bonds (AUD)	10,505	9,921
AIRSER 5.35 11/15/37	20251126	20261027	3.85%	Foreign Bonds (AUD)	10,505	10,172
CBAAU 4 3/4 01/09/30	20251128	20261028	3.80%	Foreign Bonds (AUD)	10,505	9,874
WSTP 4 1/2 10/30/30	20251128	20261028	3.85%	Foreign Bonds (AUD)	21,010	19,196
WSTP 4 1/2 10/30/30	20251128	20261028	3.85%	Foreign Bonds (AUD)	21,010	19,197
AIRNZ 5.179 09/30/32	20251128	20261028	3.90%	Foreign Bonds (AUD)	10,505	10,234
VW 5.2 10/16/30	20251201	20261102	3.89%	Foreign Bonds (AUD)	33,616	30,066
EBIUH 5.913 06/18/35	20251202	20261102	3.89%	Foreign Bonds (AUD)	10,505	9,829
AIRNZ 5.179 09/30/32	20251202	20261102	3.85%	Foreign Bonds (AUD)	10,505	9,581
ACGB 4.25 06/21/34	20251205	20261105	3.72%	Foreign Bonds (AUD)	21,010	20,911
WSTP 4 1/2 10/30/30	20251210	20261110	3.83%	Foreign Bonds (AUD)	21,010	19,690

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
ACGB 4.25 06/21/34	20251211	20261111	3.72%	Foreign Bonds (AUD)	$ 21,010	$ 20,227
AUSGF 5.277 12/10/30	20251211	20261111	3.90%	Foreign Bonds (AUD)	42,020	37,856
AUSGF 5.946 12/10/35	20251211	20261111	3.90%	Foreign Bonds (AUD)	10,505	9,435
FCGNZ 5.236 05/19/32	20251212	20261112	3.88%	Foreign Bonds (AUD)	21,010	19,250
BNP 7 PERP	20251212	20261112	3.95%	Foreign Bonds (AUD)	21,010	16,135
DE 4.45 06/21/30	20251212	20261112	3.86%	Foreign Bonds (AUD)	10,505	9,618
AIRSER 5.35 11/15/37	20251212	20261112	3.85%	Foreign Bonds (AUD)	8,404	8,217
NWG 5.026 06/12/29	20251215	20261116	3.89%	Foreign Bonds (AUD)	29,414	27,021
NWG 5.026 06/12/29	20251215	20261116	3.89%	Foreign Bonds (AUD)	21,010	19,301
NWG 5.026 06/12/29	20251215	20261116	3.89%	Foreign Bonds (AUD)	31,515	28,951
BNP 7 PERP	20251215	20261116	4.10%	Foreign Bonds (AUD)	21,010	16,808
NWG 5.026 06/12/29	20251215	20261116	3.89%	Foreign Bonds (AUD)	42,020	38,602
EBIUH 5.913 06/18/35	20251217	20261117	3.89%	Foreign Bonds (AUD)	21,010	18,965
RABOBK FLOAT07/10/30	20251218	20261118	3.88%	Foreign Bonds (AUD)	21,010	19,560
ACGB 4.25 12/21/35	20251230	20261130	3.72%	Foreign Bonds (AUD)	42,020	39,404
ACGB 4.25 12/21/35	20251230	20261130	3.72%	Foreign Bonds (AUD)	42,020	39,404
MEITUA 3.1 11/05/35	20251106	20261006	1.95%	Foreign Bonds (CNH)	44,960	41,427
INDON 2.9 10/31/35	20251110	20261012	1.95%	Foreign Bonds (CNH)	44,960	41,533
LLOYDS3 1/4 03/24/30	20250325	20260225	2.15%	Foreign Bonds (EUR)	36,900	35,013
SANTAN4.625 10/18/27	20250423	20260323	2.10%	Foreign Bonds (EUR)	36,900	36,863
MS 4.099 05/22/36	20250423	20260323	2.20%	Foreign Bonds (EUR)	18,450	17,112
MS 3.521 05/22/31	20250423	20260323	2.17%	Foreign Bonds (EUR)	36,900	35,276
WOWAU 3 3/4 10/25/32	20250424	20260324	2.15%	Foreign Bonds (EUR)	36,900	33,992
WOWAU 3 3/4 10/25/32	20250429	20260330	2.15%	Foreign Bonds (EUR)	11,070	10,094
ARION 4.625 11/21/28	20250514	20260414	2.10%	Foreign Bonds (EUR)	36,900	35,883
LSELN 4.125 09/29/26	20250514	20260414	2.00%	Foreign Bonds (EUR)	36,900	34,671
LEASYS 4.5 07/26/26	20250514	20260414	2.10%	Foreign Bonds (EUR)	36,900	35,459
HSBC 3.313 05/13/30	20250515	20260415	2.10%	Foreign Bonds (EUR)	36,900	33,445
CESDRA 3.75 07/28/30	20250529	20260429	2.15%	Foreign Bonds (EUR)	36,900	34,067
MAGYAR4.375 06/27/30	20250610	20260511	2.13%	Foreign Bonds (EUR)	36,900	33,848

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
VW 3 1/4 05/19/27	20250611	20260511	2.17%	Foreign Bonds (EUR)	$ 36,900	$ 34,321
NOMURA3.459 05/28/30	20250620	20260520	2.12%	Foreign Bonds (EUR)	36,900	34,531
KSA 3 3/8 03/05/32	20250626	20260526	2.17%	Foreign Bonds (EUR)	36,900	34,147
CHILE 3.75 01/14/32	20250710	20260610	2.15%	Foreign Bonds (EUR)	36,900	36,247
CHILE 3.75 01/14/32	20250722	20260622	2.15%	Foreign Bonds (EUR)	36,900	38,228
KSA 3 3/8 03/05/32	20250722	20260622	2.17%	Foreign Bonds (EUR)	36,900	34,350
NTT 4.091 07/16/37	20250725	20260625	2.15%	Foreign Bonds (EUR)	18,450	17,125
NTT 4.091 07/16/37	20250728	20260629	2.15%	Foreign Bonds (EUR)	18,450	17,075
WOWAU 3 3/4 10/25/32	20250730	20260630	2.10%	Foreign Bonds (EUR)	7,380	6,966
CAF 3.125 09/03/32	20250904	20260804	2.10%	Foreign Bonds (EUR)	36,900	35,943
ELRO 4 3/8 07/14/30	20250912	20260812	2.15%	Foreign Bonds (EUR)	18,450	17,037
PEOPW 3 1/2 09/23/32	20250924	20260824	2.10%	Foreign Bonds (EUR)	18,450	17,328
MEX 5 1/8 03/19/38	20250930	20260831	2.00%	Foreign Bonds (EUR)	55,350	50,586
MEX 4 1/2 03/19/34	20251007	20260907	2.17%	Foreign Bonds (EUR)	36,900	31,877
F 3.778 09/16/29	20251017	20260917	2.13%	Foreign Bonds (EUR)	23,985	21,935
MEX 3 1/2 09/19/29	20251020	20260921	2.15%	Foreign Bonds (EUR)	36,900	33,848
PKOBP 3.875 09/12/27	20251020	20260921	2.12%	Foreign Bonds (EUR)	36,900	33,967
IHGLN 3 3/8 09/10/30	20251021	20260921	2.14%	Foreign Bonds (EUR)	18,450	17,551
VW 3 1/8 10/02/29	20251027	20260929	2.15%	Foreign Bonds (EUR)	36,900	34,372
MEX 3 1/2 09/19/29	20251027	20260929	2.15%	Foreign Bonds (EUR)	73,800	67,628
HONHAI3 1/8 11/04/31	20251105	20261005	2.15%	Foreign Bonds (EUR)	36,900	33,696
HONHAI3 1/8 11/04/31	20251105	20261005	2.15%	Foreign Bonds (EUR)	18,450	16,848
HKINTL2 1/2 11/11/29	20251114	20261014	2.10%	Foreign Bonds (EUR)	36,900	33,613
LATVEN3.612 11/13/30	20251114	20261014	2.15%	Foreign Bonds (EUR)	55,350	50,942
HONHAI3 1/8 11/04/31	20251118	20261019	2.15%	Foreign Bonds (EUR)	22,140	20,131
LEASYS 4.5 07/26/26	20251126	20260723	2.10%	Foreign Bonds (EUR)	36,900	34,486
IAGLN 3.352 09/11/30	20251201	20261102	2.15%	Foreign Bonds (EUR)	18,450	17,052
NTT 3.678 07/16/33	20251202	20261102	2.15%	Foreign Bonds (EUR)	36,900	34,865
YANTZE2.875 12/01/30	20251202	20261102	2.15%	Foreign Bonds (EUR)	36,900	33,131
C 4.113 04/29/36	20251205	20261105	2.12%	Foreign Bonds (EUR)	18,450	18,447

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
CENNZ 3.537 11/03/32	20251211	20261111	2.16%	Foreign Bonds (EUR)	$ 36,900	$ 33,659
VW 3.125 12/10/29	20251211	20261111	2.17%	Foreign Bonds (EUR)	36,900	33,693
NTT 3.678 07/16/33	20251212	20261112	2.15%	Foreign Bonds (EUR)	18,450	17,281
NTT 3.678 07/16/33	20251217	20261117	2.15%	Foreign Bonds (EUR)	18,450	16,927
ROMANI 6.5 10/07/45	20251217	20261117	2.17%	Foreign Bonds (EUR)	18,450	16,722
MICCNL3 1/4 11/26/31	20251218	20261118	2.15%	Foreign Bonds (EUR)	36,900	33,619
MICCNL3 1/4 11/26/31	20251218	20261118	2.15%	Foreign Bonds (EUR)	36,900	33,619
INDON 3 3/4 10/16/33	20251218	20261118	2.20%	Foreign Bonds (EUR)	36,900	33,545
INDON 3 3/4 10/16/33	20251218	20261118	2.20%	Foreign Bonds (EUR)	36,900	33,545
GS FLOAT 12/18/29	20251219	20261119	2.18%	Foreign Bonds (EUR)	36,900	33,579
GS 3.984 12/18/36	20251219	20261119	2.18%	Foreign Bonds (EUR)	18,450	16,739
MEX 3 1/2 09/19/29	20251222	20261123	2.18%	Foreign Bonds (EUR)	36,900	33,713
MEX 3 1/2 09/19/29	20251222	20261123	2.18%	Foreign Bonds (EUR)	18,450	16,857
DBR 2.6 08/15/35	20251222	20261123	2.08%	Foreign Bonds (EUR)	29,520	28,532
PKOBP 3 3/8 06/16/28	20251222	20261123	2.10%	Foreign Bonds (EUR)	36,900	34,283
DBR 2.6 08/15/35	20251223	20261123	2.08%	Foreign Bonds (EUR)	18,450	17,766
F 6.184 08/29/31	20250926	20260826	3.95%	Foreign Bonds (GBP)	42,330	39,306
ABPFIN5 5/8 04/14/35	20251015	20260915	3.80%	Foreign Bonds (GBP)	21,165	18,659
CMZB 5 10/15/31	20251016	20260916	4.05%	Foreign Bonds (GBP)	21,165	18,008
BCHINA4 1/8 10/27/28	20251028	20260929	3.90%	Foreign Bonds (GBP)	63,495	58,234
VW 5 1/4 07/14/31	20251215	20261116	3.90%	Foreign Bonds (GBP)	42,330	39,777
MITHCC5.105 02/27/28	20251222	20261123	4.00%	Foreign Bonds (GBP)	42,330	41,168
ABNANV4.625 11/08/30	20251223	20261123	4.05%	Foreign Bonds (GBP)	42,330	38,288
HSBC 3.4 05/28/33	20251212	20260130	1.95%	Foreign Bonds (SGD)	24,450	23,394
MITHCC5.302 01/23/28	20250206	20260106	4.01%	Foreign Bonds (USD)	9,429	8,566
KSA 5.125 01/13/28	20250207	20260107	3.95%	Foreign Bonds (USD)	31,430	29,259
KANSEL5.037 02/26/30	20250306	20260206	4.01%	Foreign Bonds (USD)	15,715	14,678
SECO 5.225 02/18/30	20250311	20260211	3.95%	Foreign Bonds (USD)	23,573	21,929
KUB 5.33 05/29/27	20250312	20260212	4.01%	Foreign Bonds (USD)	31,430	29,776
KOCRGF5.357 05/29/27	20250312	20260212	4.01%	Foreign Bonds (USD)	47,145	44,849

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
MITHCC5.302 01/23/28	20250314	20260216	4.01%	Foreign Bonds (USD)	$ 44,002	$ 41,270
KANSEL5.037 02/26/30	20250317	20260217	4.01%	Foreign Bonds (USD)	15,715	14,695
PETMK 4.95 01/03/31	20250409	20260309	3.95%	Foreign Bonds (USD)	47,145	43,221
HYNMTR FLOAT03/25/27	20250410	20260310	4.01%	Foreign Bonds (USD)	31,430	29,494
T 4.875 10/31/28	20250416	20260316	3.85%	Foreign Bonds (USD)	314,300	316,292
KOROIL FLOAT03/31/28	20250417	20260317	4.01%	Foreign Bonds (USD)	15,715	14,749
SRCSUK 5 02/27/28	20250506	20260406	4.01%	Foreign Bonds (USD)	31,430	29,667
AXP 5.667 04/25/36	20250508	20260408	3.90%	Foreign Bonds (USD)	15,715	14,791
KSA 5.25 06/04/27	20250508	20260408	3.90%	Foreign Bonds (USD)	31,430	30,234
KTGC 5 05/02/28	20250509	20260409	4.01%	Foreign Bonds (USD)	31,430	29,160
KTGC 5 05/02/28	20250514	20260414	4.01%	Foreign Bonds (USD)	56,574	52,365
SUMIFL5.236 05/01/30	20250515	20260415	4.01%	Foreign Bonds (USD)	6,286	5,821
SRCSUK 5 02/27/28	20250515	20260415	4.01%	Foreign Bonds (USD)	31,430	29,341
T 4.5 11/15/33	20250520	20260420	3.85%	Foreign Bonds (USD)	314,300	305,824
HANFGI 5 04/30/28	20250521	20260421	4.01%	Foreign Bonds (USD)	31,430	28,976
HANFGI 5 04/30/28	20250523	20260423	4.01%	Foreign Bonds (USD)	31,430	28,957
SUMIFL5.236 05/01/30	20250527	20260427	4.01%	Foreign Bonds (USD)	26,716	24,804
SWEDA 5.083 05/21/30	20250527	20260427	3.77%	Foreign Bonds (USD)	31,430	28,916
MASDAR5.375 05/21/35	20250528	20260428	3.95%	Foreign Bonds (USD)	31,430	28,950
SUMIFL5.236 05/01/30	20250602	20260504	4.01%	Foreign Bonds (USD)	15,715	14,899
SUMIBK 5.24 04/15/30	20250603	20260504	3.90%	Foreign Bonds (USD)	15,715	14,862
KEBHNB 5.75 10/24/28	20250603	20260504	3.90%	Foreign Bonds (USD)	31,430	30,143
KTGC 5 05/02/28	20250610	20260511	3.77%	Foreign Bonds (USD)	15,715	14,602
KSA 5.25 06/04/27	20250612	20260512	3.93%	Foreign Bonds (USD)	31,430	30,232
HANFGI 5 04/30/28	20250612	20260512	4.01%	Foreign Bonds (USD)	31,430	29,136
ARAMCO5.375 06/02/35	20250617	20260518	3.79%	Foreign Bonds (USD)	31,430	28,315
NACF FLOAT 07/22/27	20250618	20260518	4.01%	Foreign Bonds (USD)	62,860	58,463
WDSAU 4.9 05/19/28	20250618	20260518	3.77%	Foreign Bonds (USD)	15,715	14,772
HYNMTR 5.1 06/24/30	20250624	20260525	3.75%	Foreign Bonds (USD)	31,430	28,937
WDSAU 5.7 05/19/32	20250624	20260525	3.79%	Foreign Bonds (USD)	15,715	14,483

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
PIFKSA 6 10/25/28	20250626	20260526	3.80%	Foreign Bonds (USD)	$ 31,430	$ 31,292
MTRC 5.625 PERP	20250627	20260527	3.78%	Foreign Bonds (USD)	62,860	53,698
PIFKSA 6 10/25/28	20250627	20260527	3.80%	Foreign Bonds (USD)	31,430	31,322
SECO 5.225 02/18/30	20250630	20260601	3.80%	Foreign Bonds (USD)	31,430	30,311
SECO 5.225 02/18/30	20250701	20260601	3.80%	Foreign Bonds (USD)	31,430	30,303
BBKPIJ5.658 10/30/27	20250709	20260609	3.75%	Foreign Bonds (USD)	31,430	29,692
KSA 5.25 06/04/30	20250711	20260611	3.90%	Foreign Bonds (USD)	15,715	14,933
KSA 5.25 06/04/30	20250711	20260611	3.77%	Foreign Bonds (USD)	15,715	14,993
LOTCOR4.375 07/14/28	20250715	20260615	3.78%	Foreign Bonds (USD)	31,430	29,489
KOROIL FLOAT09/30/27	20250715	20260615	3.80%	Foreign Bonds (USD)	31,430	29,089
ARAMCO6.375 06/02/55	20250718	20260618	3.93%	Foreign Bonds (USD)	9,429	8,121
NTT FLOAT 07/16/28	20250724	20260624	3.75%	Foreign Bonds (USD)	47,145	44,671
ARAMCO6.375 06/02/55	20250725	20260625	3.75%	Foreign Bonds (USD)	22,001	19,167
AXP FLOAT 07/20/29	20250728	20260629	3.78%	Foreign Bonds (USD)	31,430	29,876
WDSAU 5.4 05/19/30	20250729	20260629	3.77%	Foreign Bonds (USD)	15,715	14,133
NTT FLOAT 07/16/28	20250731	20260630	3.75%	Foreign Bonds (USD)	78,575	74,618
MUBAUH 5 06/04/35	20250807	20260707	3.75%	Foreign Bonds (USD)	31,430	30,222
WDSAU 5.4 05/19/30	20250818	20260720	3.78%	Foreign Bonds (USD)	15,715	14,624
NTT 5.502 07/16/35	20250819	20260720	3.60%	Foreign Bonds (USD)	31,430	28,994
T 4.875 10/31/28	20250826	20260727	3.89%	Foreign Bonds (USD)	942,900	971,117
LGENSO5.375 04/02/30	20250828	20260728	3.75%	Foreign Bonds (USD)	15,715	15,094
INDKOR FLOAT09/30/27	20250902	20260803	4.01%	Foreign Bonds (USD)	62,860	58,496
MEXPCP 5.5 08/17/30	20250904	20260804	3.78%	Foreign Bonds (USD)	23,573	22,491
HYNMTR 5.4 06/23/32	20250904	20260804	3.73%	Foreign Bonds (USD)	15,715	14,773
NTT 4.876 07/16/30	20250905	20260805	3.73%	Foreign Bonds (USD)	31,430	30,515
NTT 5.171 07/16/32	20250908	20260810	3.67%	Foreign Bonds (USD)	15,715	14,892
SRCSUK 5 02/27/28	20250909	20260810	3.78%	Foreign Bonds (USD)	31,430	30,336
MITCO FLOAT 09/09/28	20250910	20260810	3.75%	Foreign Bonds (USD)	31,430	29,888
SECO 5.225 02/18/30	20250910	20260810	3.80%	Foreign Bonds (USD)	31,430	30,224
C 5.174 09/11/36	20250915	20260817	3.73%	Foreign Bonds (USD)	31,430	28,772

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
MEXPCP 5.5 08/17/30	20250916	20260817	3.78%	Foreign Bonds (USD)	$ 15,715	$ 15,127
HYUELE 5.5 01/16/29	20250916	20260817	4.01%	Foreign Bonds (USD)	31,430	30,873
T 4.875 10/31/28	20250919	20260819	3.74%	Foreign Bonds (USD)	314,300	325,817
T 4.5 11/15/33	20250919	20260819	3.74%	Foreign Bonds (USD)	125,720	130,080
BFCM 5.896 07/13/26	20250919	20260709	3.90%	Foreign Bonds (USD)	15,715	14,658
SANUSA6.124 05/31/27	20250919	20260819	3.90%	Foreign Bonds (USD)	15,715	14,730
KOROIL FLOAT09/30/27	20250919	20260819	3.90%	Foreign Bonds (USD)	62,860	58,232
SANTAN5.365 07/15/28	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	29,488
NWG 5.022 03/21/30	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	30,203
BPCEGP5.389 05/28/31	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	29,946
HYNMTR FLOAT06/24/27	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	29,088
BACR 7.385 11/02/28	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	31,233
SUMI 5.05 07/03/29	20250919	20260819	3.90%	Foreign Bonds (USD)	7,858	7,422
CITNAT 5.25 05/09/29	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	30,289
SUMIFL5.236 05/01/30	20250919	20260819	3.90%	Foreign Bonds (USD)	7,858	7,522
STANLN5.688 05/14/28	20250919	20260819	3.90%	Foreign Bonds (USD)	15,715	14,901
SOCGEN5.249 05/22/29	20250919	20260819	3.90%	Foreign Bonds (USD)	7,858	7,408
SECO 5.225 02/18/30	20250919	20260819	3.90%	Foreign Bonds (USD)	23,573	22,180
CKHH 5.375 04/26/29	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	30,317
SUMI 5.05 07/03/29	20250919	20260819	3.90%	Foreign Bonds (USD)	7,858	7,422
STANLN5.688 05/14/28	20250919	20260819	3.90%	Foreign Bonds (USD)	78,575	74,506
AMMMK 5.252 01/23/30	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	29,688
KORWAT4.375 05/21/27	20250919	20260819	3.90%	Foreign Bonds (USD)	31,430	29,202
HIKTSU 6.13 09/18/35	20250922	20260824	3.75%	Foreign Bonds (USD)	62,860	57,884
HIKTSU 6.13 09/18/35	20250922	20260824	3.75%	Foreign Bonds (USD)	31,430	28,942
HYNMTR FLOAT09/18/28	20250922	20260824	3.72%	Foreign Bonds (USD)	47,145	44,982
ALVGR 6.55 PERP	20250924	20260824	3.45%	Foreign Bonds (USD)	31,430	27,893
CBAAU FLOAT 10/01/30	20251002	20260902	3.90%	Foreign Bonds (USD)	15,715	14,358
SRCSUK4.375 04/02/29	20251003	20260903	3.78%	Foreign Bonds (USD)	62,860	59,042
MUFG 5.159 04/24/31	20251006	20260907	4.01%	Foreign Bonds (USD)	15,715	15,594

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
NIPDES4.282 09/17/30	20251006	20260907	3.65%	Foreign Bonds (USD)	$ 20,115	$ 19,194
AJMNSS5.125 04/30/30	20251007	20260907	3.80%	Foreign Bonds (USD)	31,430	30,213
AJMNSS5.125 04/30/30	20251007	20260907	3.80%	Foreign Bonds (USD)	31,430	30,213
SANUSA6.124 05/31/27	20251010	20260910	3.93%	Foreign Bonds (USD)	47,145	46,243
T 4.875 10/31/28	20251014	20260914	3.85%	Foreign Bonds (USD)	157,150	161,429
SUMITR FLOAT09/11/28	20251020	20260921	3.90%	Foreign Bonds (USD)	31,430	28,830
FUBON 5.45 12/10/35	20251021	20260921	3.75%	Foreign Bonds (USD)	31,430	27,464
SHIKON 6.95 06/26/35	20251021	20260921	3.85%	Foreign Bonds (USD)	31,430	30,875
STANLN FLOAT05/13/31	20251021	20260921	3.90%	Foreign Bonds (USD)	62,860	59,090
BNP 8 PERP CORP	20251022	20260922	3.80%	Foreign Bonds (USD)	15,715	14,427
HYUELE 5.5 01/16/29	20251022	20260922	3.75%	Foreign Bonds (USD)	15,715	15,181
MQGAU 6.798 01/18/33	20251022	20260922	3.90%	Foreign Bonds (USD)	31,430	32,433
ASBNNK FLOAT10/29/30	20251030	20260930	3.90%	Foreign Bonds (USD)	72,289	66,178
WDSAU 6 05/19/35	20251104	20261005	3.75%	Foreign Bonds (USD)	15,715	15,167
T 4.5 11/15/33	20251105	20261005	3.92%	Foreign Bonds (USD)	314,300	325,817
T 4.5 11/15/33	20251105	20261005	3.92%	Foreign Bonds (USD)	157,150	162,909
T 4.5 11/15/33	20251105	20261005	3.92%	Foreign Bonds (USD)	188,580	189,506
WDSAU 4.9 05/19/28	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,959
WDSAU 5.4 05/19/30	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	30,390
T 4.875 10/31/28	20251105	20261005	3.92%	Foreign Bonds (USD)	314,300	319,133
T 4.875 10/31/28	20251105	20261005	3.92%	Foreign Bonds (USD)	314,300	319,133
MS 5.192 04/17/31	20251105	20261005	3.95%	Foreign Bonds (USD)	7,858	7,465
WDSAU 5.7 05/19/32	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	15,369
BBKPIJ5.658 10/30/27	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	28,454
SUMI 5.05 07/03/29	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,725
BFCM 5.194 02/16/28	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	29,844
MEX 5.375 03/22/33	20251105	20261005	3.95%	Foreign Bonds (USD)	6,286	5,688
T 4.875 10/31/28	20251105	20261005	3.92%	Foreign Bonds (USD)	314,300	319,133
WDSAU 5.7 05/19/32	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	15,369
SOCGEN6.691 01/10/34	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	32,021

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
JPM 5.572 04/22/36	20251105	20261005	3.95%	Foreign Bonds (USD)	$ 31,430	$ 30,471
SUMITR FLOAT09/10/27	20251105	20261005	3.95%	Foreign Bonds (USD)	62,860	57,581
AXP 5.016 04/25/31	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,879
HSBC 5.79 05/13/36	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	31,284
MS 4.994 04/12/29	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,764
MS 5.664 04/17/36	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	15,231
ACAFP 5.222 05/27/31	20251105	20261005	3.95%	Foreign Bonds (USD)	31,430	30,278
SECO 5.225 02/18/30	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,725
SECO 5.225 02/18/30	20251105	20261005	3.95%	Foreign Bonds (USD)	15,715	14,725
MEX 5.375 03/22/33	20251110	20261012	3.80%	Foreign Bonds (USD)	15,715	14,159
KSA 5.125 01/13/28	20251110	20261012	3.80%	Foreign Bonds (USD)	15,715	15,480
HANFGI 5 04/30/28	20251110	20261012	3.85%	Foreign Bonds (USD)	31,430	30,397
SUMIBK5.716 09/14/28	20251112	20261012	3.90%	Foreign Bonds (USD)	31,430	30,717
MS 6.407 11/01/29	20251112	20261012	3.90%	Foreign Bonds (USD)	31,430	31,011
HSBC 5.13 11/19/28	20251113	20261013	4.07%	Foreign Bonds (USD)	31,430	29,277
NORBK 5.094 10/16/29	20251113	20261013	3.95%	Foreign Bonds (USD)	31,430	29,676
PETMK 4.95 01/03/31	20251113	20261013	3.90%	Foreign Bonds (USD)	31,430	29,660
HYNMTR FLOAT06/24/27	20251113	20261013	3.90%	Foreign Bonds (USD)	31,430	28,916
LYB 5.125 01/15/31	20251117	20261019	3.90%	Foreign Bonds (USD)	31,430	28,601
CAT FLOAT 11/14/28	20251117	20261019	3.90%	Foreign Bonds (USD)	31,430	28,601
REPHUN5.375 09/26/30	20251118	20261019	3.78%	Foreign Bonds (USD)	15,715	15,229
MEX 5.375 03/22/33	20251118	20261019	3.95%	Foreign Bonds (USD)	15,715	14,122
CCAMCL FLOAT11/13/30	20251118	20261019	3.90%	Foreign Bonds (USD)	9,429	8,606
MS 6.407 11/01/29	20251118	20261019	3.90%	Foreign Bonds (USD)	31,430	30,375
QIIKQD 4.5 11/13/30	20251119	20261019	3.90%	Foreign Bonds (USD)	15,715	14,301
SECO 5.225 02/18/30	20251119	20261019	3.90%	Foreign Bonds (USD)	15,715	14,873
ABCIHL FLOAT11/19/28	20251120	20261020	3.85%	Foreign Bonds (USD)	31,430	29,854
BOSUH 4.875 11/19/30	20251120	20261020	3.85%	Foreign Bonds (USD)	15,715	14,106
HSBC FLOAT 05/13/31	20251125	20261027	3.90%	Foreign Bonds (USD)	31,430	29,173
MEXPCP 5.5 08/17/30	20251125	20261027	3.90%	Foreign Bonds (USD)	62,860	58,861

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
NSINTW5.875 03/17/41	20251128	20261028	3.93%	Foreign Bonds (USD)	$ 15,715	$ 13,170
PSX 5.875 03/15/56	20251128	20261028	3.90%	Foreign Bonds (USD)	31,430	28,430
ASBNNK FLOAT10/29/30	20251201	20261102	3.90%	Foreign Bonds (USD)	62,860	57,717
NACF FLOAT 01/21/29	20251201	20261102	3.90%	Foreign Bonds (USD)	31,430	28,802
NACF FLOAT 01/21/29	20251201	20261102	3.90%	Foreign Bonds (USD)	62,860	57,603
FABUH 5.875 PERP	20251201	20261102	3.90%	Foreign Bonds (USD)	31,430	26,876
KSA 5.125 01/13/28	20251201	20261102	3.90%	Foreign Bonds (USD)	15,715	14,887
HYUELE 6.5 01/17/33	20251202	20261102	3.75%	Foreign Bonds (USD)	15,715	15,627
INDOIS 4.5 12/01/30	20251202	20261102	3.75%	Foreign Bonds (USD)	15,715	14,200
INDOIS 4.5 12/01/30	20251202	20261102	3.75%	Foreign Bonds (USD)	62,860	56,800
KSA 5.125 01/13/28	20251204	20261104	3.95%	Foreign Bonds (USD)	62,860	61,496
INDOIS 5 12/01/35	20251204	20261104	3.69%	Foreign Bonds (USD)	31,430	28,843
ROTHLF 7 PERP	20251204	20261104	3.80%	Foreign Bonds (USD)	31,430	28,843
BDOPM 4.375 12/03/30	20251204	20261104	3.95%	Foreign Bonds (USD)	31,430	28,329
MRK FLOAT 03/15/29	20251205	20261105	3.95%	Foreign Bonds (USD)	62,860	56,653
MRK FLOAT 03/15/29	20251205	20261105	3.95%	Foreign Bonds (USD)	31,430	28,327
MRK FLOAT 03/15/29	20251205	20261105	3.95%	Foreign Bonds (USD)	15,715	14,163
DIBUH 4.572 11/19/30	20251208	20261109	3.80%	Foreign Bonds (USD)	15,715	13,836
INDOIS 4.5 12/01/30	20251208	20261109	3.90%	Foreign Bonds (USD)	15,715	15,305
AEP 5.8 03/15/56	20251208	20261109	3.97%	Foreign Bonds (USD)	31,430	26,742
AEP 6.05 03/15/56	20251208	20261109	3.97%	Foreign Bonds (USD)	31,430	26,662
HSBC FLOAT 05/13/31	20251208	20261109	3.95%	Foreign Bonds (USD)	31,430	29,586
HSBC FLOAT 11/06/31	20251208	20261109	3.95%	Foreign Bonds (USD)	31,430	29,147
RESLIF 6.875 PERP	20251208	20261109	4.00%	Foreign Bonds (USD)	31,430	26,967
ANZ FLOAT 12/08/30	20251209	20261109	3.95%	Foreign Bonds (USD)	31,430	28,965
ANZ FLOAT 12/08/30	20251209	20261109	3.95%	Foreign Bonds (USD)	62,860	57,930
MOMPER4.125 10/22/28	20251210	20261110	3.90%	Foreign Bonds (USD)	31,430	28,858
NTT 5.502 07/16/35	20251212	20261112	3.65%	Foreign Bonds (USD)	15,715	15,006
ROTHLF 7 PERP	20251212	20260130	3.80%	Foreign Bonds (USD)	15,715	14,386
T 4.5 11/15/33	20251212	20261112	3.90%	Foreign Bonds (USD)	314,300	309,931

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
SUMITR FLOAT09/11/28	20251212	20261112	3.99%	Foreign Bonds (USD)	$ 31,430	$ 29,912
SUMITR FLOAT09/11/28	20251212	20261112	3.99%	Foreign Bonds (USD)	45,102	42,924
KOMATS4.196 09/18/30	20251212	20261112	3.99%	Foreign Bonds (USD)	6,286	5,999
SUMITR FLOAT09/11/28	20251212	20261112	3.99%	Foreign Bonds (USD)	62,860	59,824
C FLOAT 08/06/26	20251212	20260804	3.99%	Foreign Bonds (USD)	31,430	30,685
HNDA 4.25 09/01/28	20251212	20261112	3.99%	Foreign Bonds (USD)	31,430	29,698
NHSECS4.625 07/10/28	20251212	20261112	3.99%	Foreign Bonds (USD)	62,860	61,437
SUMITR FLOAT09/11/28	20251212	20261112	3.99%	Foreign Bonds (USD)	62,860	59,824
NBNAUS 4.15 09/16/30	20251212	20261112	3.99%	Foreign Bonds (USD)	6,286	6,003
NTT FLOAT 07/16/30	20251212	20261112	3.99%	Foreign Bonds (USD)	31,430	30,593
NHSECS 4.75 07/10/30	20251212	20261112	3.99%	Foreign Bonds (USD)	31,430	30,766
T 4.875 10/31/28	20251212	20261112	3.90%	Foreign Bonds (USD)	314,300	321,204
T 4.875 10/31/28	20251212	20261112	3.90%	Foreign Bonds (USD)	314,300	323,880
SUMIFL5.236 05/01/30	20251212	20261112	4.01%	Foreign Bonds (USD)	22,001	20,950
GS FLOAT 10/21/31	20251212	20261112	3.93%	Foreign Bonds (USD)	62,860	58,256
NORBK 4.674 09/09/30	20251212	20261112	3.93%	Foreign Bonds (USD)	31,430	29,434
SUMIBK FLOAT07/08/31	20251212	20261112	3.93%	Foreign Bonds (USD)	12,572	11,755
T 4.875 10/31/28	20251216	20260116	3.93%	Foreign Bonds (USD)	785,750	801,991
UBS 9.016 11/15/33	20251215	20261116	3.90%	Foreign Bonds (USD)	31,430	35,557
UBS 9.016 11/15/33	20251215	20261116	3.90%	Foreign Bonds (USD)	31,430	35,557
HYUELE 5.5 01/16/29	20251216	20261116	3.85%	Foreign Bonds (USD)	15,715	15,181
MUFG FLOAT 09/12/31	20251216	20261116	3.93%	Foreign Bonds (USD)	31,430	28,411
STOAU 5.75 11/13/35	20251216	20261116	3.90%	Foreign Bonds (USD)	15,715	14,315
BNP 6.875 PERP	20251216	20261116	3.98%	Foreign Bonds (USD)	15,715	12,572
MEX 5.375 03/22/33	20251216	20261116	3.95%	Foreign Bonds (USD)	31,430	28,659
KORELE FLOAT11/12/28	20251216	20261116	3.90%	Foreign Bonds (USD)	62,860	57,431
KORELE FLOAT11/12/28	20251216	20261116	3.90%	Foreign Bonds (USD)	62,860	57,431
T 4.5 11/15/33	20251217	20260109	4.05%	Foreign Bonds (USD)	628,600	644,717
T 4.5 11/15/33	20251217	20260109	4.05%	Foreign Bonds (USD)	471,450	483,538
MUFG FLOAT 04/24/31	20251217	20261117	3.93%	Foreign Bonds (USD)	62,860	58,057

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BONDS SOLD UNDER REPURCHASE AGREEMENTS
December 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of Securities	Transaction terms			Amount		Transaction value
	Start Date (Note)	Maturity Date	Interest rate	Type	Par value
BNP 6.875 PERP	20251217	20261117	3.98%	Foreign Bonds (USD)	$ 31,430	$ 25,144
ORCL 4.45 09/26/30	20251218	20261118	3.93%	Foreign Bonds (USD)	31,430	28,439
BBLTB 4.507 11/26/30	20251218	20261118	3.93%	Foreign Bonds (USD)	31,430	29,055
SOCGEN6.691 01/10/34	20251218	20261118	3.93%	Foreign Bonds (USD)	15,715	15,976
ORCL 5.95 09/26/55	20251218	20261118	4.00%	Foreign Bonds (USD)	15,715	12,813
CAF 6.75 PERP	20251218	20261118	4.00%	Foreign Bonds (USD)	62,860	54,927
SOCGEN6.691 01/10/34	20251218	20261118	4.00%	Foreign Bonds (USD)	15,715	16,515
NTT 4.876 07/16/30	20251219	20261119	3.93%	Foreign Bonds (USD)	31,430	30,058
UBS 9.25 PERP	20251222	20261123	4.00%	Foreign Bonds (USD)	31,430	31,578
HYNCRD 5.75 04/24/29	20251222	20261123	3.93%	Foreign Bonds (USD)	31,430	30,332
BFCM 5.538 01/22/30	20251222	20261123	3.93%	Foreign Bonds (USD)	31,430	31,829
RESLIF 6.875 PERP	20251223	20261123	4.05%	Foreign Bonds (USD)	31,430	27,170
MEITUA4.625 10/02/29	20251223	20261123	3.93%	Foreign Bonds (USD)	31,430	29,304
ORCL 4.8 08/03/28	20251223	20261123	3.93%	Foreign Bonds (USD)	15,715	14,752
ACAFP 7.125 PERP	20251223	20261123	4.15%	Foreign Bonds (USD)	31,430	25,999
MEITUA4.625 10/02/29	20251224	20261124	3.93%	Foreign Bonds (USD)	31,430	29,312
BNP 6.875 PERP	20251224	20261124	4.10%	Foreign Bonds (USD)	15,715	13,398
NTT FLOAT 07/16/30	20251226	20261126	3.93%	Foreign Bonds (USD)	31,430	29,693
RESONA4.983 01/22/28	20251226	20261126	4.01%	Foreign Bonds (USD)	31,430	29,968
MS 5.192 04/17/31	20251229	20261130	3.93%	Foreign Bonds (USD)	7,858	7,534
T 4.875 10/31/28	20260105	20261207	3.85%	Foreign Bonds (USD)	314,300	318,133
EIBUH 5.509 03/25/30	20251230	20261130	4.03%	Foreign Bonds (USD)	31,430	29,163
T 4.875 10/31/28	20260106	20260206	3.88%	Foreign Bonds (USD)	314,300	320,335
T 4 11/15/35	20260102	20260105	3.88%	Foreign Bonds (USD)	110,005	108,252
T 4.25 08/15/35	20260102	20260105	3.93%	Foreign Bonds (USD)	141,435	143,660
					$ 32,003,069	$ 31,211,042

Note: It's settlement date.

PRESIDENT SECURITIES CORPORATION
STATEMENT OF BROKERAGE HANDLING FEE REVENUE
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Revenues from brokered trading

Month	Brokerage business of securities at the TWSE markets	Brokerage business of securities at the OTC markets	Commission revenue from sub-brokerage	Commission revenue from short sales	Other commission revenue	Total
1	$ 143,538	$ 44,062	$ 19,355	$ 776	$ 18	$ 207,749
2	196,909	61,136	30,138	1,105	50	289,338
3	173,323	63,084	31,365	987	33	268,792
4	145,859	45,465	26,902	1,075	32	219,333
5	162,210	53,677	22,520	894	18	239,319
6	219,491	63,436	30,393	1,006	36	314,362
7	219,916	68,964	49,820	1,745	54	340,499
8	259,337	97,493	46,676	1,364	32	404,902
9	272,787	99,788	55,879	1,408	38	429,900
10	282,915	82,582	80,795	1,165	126	447,583
11	274,939	81,584	86,471	1,464	66	444,524
12	278,583	88,037	48,985	1,199	37	416,841
Total	$ 2,629,807	$ 849,308	$ 529,299	$ 14,188	$ 540	$ 4,023,142

~149~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF REVENUES FROM UNDERWRITING BUSINESS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Month	Revenues from underwriting securities on a firm commitment basis	Revenue from underwriting processing fees	Revenue from underwriting advisory fees	Other revenue	Total
1	$ 818	$ 273	$ 470	$ 1,662	$ 3,223
2	4,524	2,844	480	1,969	9,817
3	4,244	779	530	1,669	7,222
4	781	75	1,270	2,195	4,321
5	5,205	741	430	1,964	8,340
6	12,221	14,577	510	1,296	28,604
7	112	513	500	3,719	4,844
8	13,043	12,787	500	2,525	28,855
9	13,551	2,764	470	18,190	34,975
10	10,100	4,101	520	330	15,051
11	5,538	5,402	1,060	3,033	15,033
12	2,858	1,384	560	2,265	7,067
Total	$ 72,995	$ 46,240	$ 7,300	$ 40,817	$ 167,352

~150~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF NET GAIN (LOSS) ON SALE OF TRADING SECURITIES
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Revenue from sale of trading securities	Cost from sale of trading securities	Gain (loss) on sale of trading securities
Dealers:
Trading at TAIEX
-Stocks	$ 99,856,240	($ 98,483,536)	$ 1,372,704
-Others	79,847,341	( 79,472,104)	375,237
Subtotal	179,703,581	( 177,955,640)	1,747,941
Trading at OTC
-Stocks	27,124,489	( 26,882,055)	242,434
-Bonds	76,969,679	( 76,937,430)	32,249
-Others	47,916,263	( 47,980,499)	( 64,236)
Subtotal	152,010,431	( 151,799,984)	210,447
Trading at foreign market	228,068,495	( 227,886,331)	182,164
Total	559,782,507	( 557,641,955)	2,140,552
Underwriters:
Trading at TAIEX
-Stocks	76,060	( 52,168)	23,892
Subtotal	76,060	( 52,168)	23,892
Trading at OTC
-Stocks	87,405	( 63,641)	23,764
-Bonds	440,004	( 385,197)	54,807
Subtotal	527,409	( 448,838)	78,571
Total	603,469	( 501,006)	102,463
Hedging:
Trading at TAIEX
-Stocks	83,615,000	( 82,711,089)	903,911
-Others	230,545	( 221,571)	8,974
Subtotal	83,845,545	( 82,932,660)	912,885
Trading at OTC
-Bonds	14,187,112	( 14,139,558)	47,554
-Warrants	26,891,666	( 26,562,960)	328,706
-Others	7,379,927	( 6,867,510)	512,417
Subtotal	48,458,705	( 47,570,028)	888,677
Trading at foreign market	1,641,259	( 1,620,510)	20,749
Total	133,945,509	( 132,123,198)	1,822,311
Total	$ 694,331,485	($ 690,266,159)	$ 4,065,326

PRESIDENT SECURITIES CORPORATION
STATEMENT OF INTEREST REVENUE
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Interest income from margin loans		$ 930,011
Interest income from bonds		1,146,255
Interest income from loans		497,141
Others interest income		9,417
Total		$ 2,582,824

~152~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF FINANCIAL COSTS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Interest expense from repurchase agreements		$ 836,765
Loans interest expense		658,676
Other interest expense		187,718
Total		$ 1,683,159

~153~

PRESIDENT SECURITIES CORPORATION
STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION, AMORTIZATION, AND OTHER OPERATING EXPENSES
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Year ended December 31, 2025	Year ended December 31, 2024
Employee benefits expense
Salaries	$ 3,228,007	$ 3,104,362
Labor and health insurance	182,460	164,072
Pension	88,037	83,940
Directors’ remuneration	166,401	155,674
Other employee benefits	196,222	108,013
Depreciation expenses	261,320	233,449
Amortization expenses	92,511	84,879
Other operating expenses	2,243,293	2,170,821

Note:
1. In 2025 and 2024, the Company had 1,610 and 1,516 employees, respectively, in which directors not concurrently serving as employees were both 12.
2. The annual individual or individual financial report should additionally disclose the following information:
(1) The average employee benefit expense was $2,312 for the year ended December 31, 2025 (“total employee benefit expense for the year minus total director’s remuneration”/ “number of employees for the year minus number of directors who are not concurrently employees”).
The average employee benefit expense was $2,336 for the year ended December 31, 2024 (“total employee benefit expense in the previous year minus total director’s remuneration” / “number of employees in the previous year minus number of directors who are not concurrently employees”).
(2) Average salary of this year is $2,020 (a total sum of salaries in this year / (“number of employees in this year minus number of non-employee directors in this year”).
Average salary of the previous year is $2,099 (a total sum of salaries in the previous year / (“number of employees in the previous year minus number of non-employee directors in the previous year”).
(3) Change of average salary is a decrease of 3.76% (“average salary in this year minus average salary in the previous year” /average salary in the previous year).
3. For the years ended December 31, 2025 and 2024, director’s remuneration - service payment (under “other operating expense”) were $1,268 and $1,176, respectively.
4. For the years ended December 31, 2025 and 2024, supervisors’ remuneration were both $0. Because of the establishment of Audit Committee, there’s no supervisors’ remuneration.
5. The remuneration policy of the Company (Including directors, supervisors, managers and employees):
(1) Directors: Pursuant to Article 19 of the Company’s Articles of Incorporation, the remuneration to director is determined by the board of directors by taking into the degree of participation in the company’s operations, contribution and industry standards.
Independent directors receive fixed pay monthly and do not participate in the distribution of company directors’ remuneration.
(2) Managers and employees: Pursuant to Article 37 of Work Rules, the Company’s remuneration policy is to fairly compensate employees’ contribution to the company, to offer competitive salary among peers, to meet relevant laws and regulations related to salary and to properly control salary cost.

~154~

~155~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT

FINANCIAL STATEMENTS AND INDEPENDENT

AUDITOR'S REPORT

DECEMBER 31, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
BALANCE SHEETS
DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

Assets	Notes	December 31, 2025		December 31, 2024
		AMOUNT	%	AMOUNT	%
110000	Current assets
111100	Cash and cash equivalents	6(1)	$ 1,825,199	22	$ 1,937,718	37
112000	Financial assets at fair value through	6(2), 7 and 12
	profit or loss - current		6,410,310	78	3,359,076	63
114170	Other receivables		3,837	-	5,012	-
110000	Total current assets		8,239,346	100	5,301,806	100
120000	Non-current assets
125000	Property and equipment, net		5,456	-	5,602	-
127000	Intangible assets		3,508	-	5,529	-
129000	Other assets - non-current	7 and 8	13,360	-	13,360	-
120000	Total non-current assets		22,324	-	24,491	-
906001	Total Assets		$ 8,261,670	100	$ 5,326,297	100
	Liabilities and Equity
210000	Current liabilities
214130	Accounts payable		$ 335	-	$ 194	-
214170	Other payables		69,839	1	110,486	2
210000	Total current liabilities		70,174	1	110,680	2
220000	Non-current liabilities
229110	Inter-department accounts, credit	6(3)	4,979,183	60	2,079,545	39
220000	Total non-current liabilities		4,979,183	60	2,079,545	39
906003	Total Liabilities		5,049,357	61	2,190,225	41
	Appropriated operating capital
301110	Appropriated operating capital	6(4)	2,300,000	28	2,300,000	43
304000	Retained earnings
304020	Special reserve		65,591	1	65,591	1
304040	Unappropriated earnings		846,722	10	770,481	15
906004	Total Equity		3,212,313	39	3,136,072	59
906002	Total liabilities and equity		$ 8,261,670	100	$ 5,326,297	100

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

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENTS OF COMPREHENSIVE INCOME
YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars)

	Items	Notes	Year ended December 31
			2025		2024
			AMOUNT	%	AMOUNT	%
400000 Revenues
424400	Net gain from derivatives	12	$ 351,942	100	$ 424,515	100
	Total revenues		351,942	100	424,515	100
500000 Expenditures and expenses
502000	Proprietary handling fee expense		( 27,374 )	( 8 )	( 18,229 )	( 4 )
524300	Expense of clearing and settlement	7	( 15,197 )	( 4 )	( 12,733 )	( 3 )
531000	Employee benefits expense		( 109,718 )	( 31 )	( 152,363 )	( 36 )
532000	Depreciation and amortization		( 5,555 )	( 2 )	( 5,700 )	( 1 )
533000	Other operating expenses		( 147,806 )	( 42 )	( 131,291 )	( 31 )
	Total expenditures and expenses		( 305,650 )	( 87 )	( 320,316 )	( 75 )
	Operating gain (loss)		46,292	13	104,199	25
602000	Other gains and losses		29,949	9	48,544	11
902001	Income (loss) before income tax		76,241	22	152,743	36
902005	Net income (loss)		$ 76,241	22	$ 152,743	36
902006	Total current comprehensive income (loss)		$ 76,241	22	$ 152,743	36

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

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024
(Expressed in thousands of New Taiwan dollars, except as otherwise indicated)

HISTORY AND ORGANIZATION
The Segment started to operate futures contract dealing business in June 2003.
THE DATE OF AUTHORISATION FOR ISSUANCE OF THE FINANCIAL STATEMENTS AND PROCEDURES FOR AUTHORISATION
These segment financial statements were authorized for issuance by the Board of Directors on March 2, 2026.
APPLICATION OF NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS
(1) Effect of the adoption of new issuances of or amendments to International Financial Reporting Standards (“IFRS®”) Accounting Standards that came into effect as endorsed by the Financial Supervisory Commission (“FSC”)
New standards, interpretations and amendments that came into effect as endorsed by FSC and became effective from 2025 are as follows:

New Standards, Interpretations and Amendments	Effective date by International Accounting Standards Board
Amendments to IAS 21, ‘Lack of exchangeability’	January 1, 2025
The above standards and interpretations have no significant impact to the Segment’s financial condition and financial performance based on the Company assessment.

(2) Effect of new issuances of or amendments to IFRS Accounting Standards as endorsed by the FSC but not yet adopted by the Segment
New standards, interpretations and amendments endorsed by the FSC and will become effective from 2026 are as follows:

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

~158~

The above standards and interpretations have no significant impact to the Segment's financial condition and financial performance based on the Company assessment.

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

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

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

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

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

IFRS18, 'Presentation and disclosure in financial statements'

IFRS18, 'Presentation and disclosure in financial statements' replaces IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

(1) Compliance statement

The financial statements of the Segment have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants.

(2) Basis of preparation

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

(A) Financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss.

(B) Defined benefit liabilities recognized based on the net amount of pension fund assets less present value of defined benefit obligations.

B. The preparation of financial statements in conformity with International Financial Reporting Standards, International Accounting Standards, IFRIC® Interpretations, and SIC® Interpretation that came into effect as endorsed by the FSC (collectively referred herein as the "IFRSs") requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 5.

(3) Classification of current and non-current items

A. Assets that meet one of the following criteria are classified as current assets:

(A) Assets arising from operating activities that are expected to be realized, or are intended to be sold or consumed within the normal operating cycle;
(B) Assets held mainly for trading purposes;
(C) Assets that are expected to be realized within twelve months from the balance sheet date;
(D) Cash and cash equivalents, excluding restricted cash and cash equivalents and those that are to be exchanged or used to pay off liabilities more than twelve months after the balance sheet date.

The Segment classifies assets that do not meet the above criteria as non-current assets.

B. Liabilities that meet one of the following criteria are classified as current liabilities:

(A) Liabilities that are expected to be paid off within the normal operating cycle;
(B) Liabilities arising mainly from trading activities;
(C) Liabilities that are to be paid off within twelve months from the balance sheet date;
(D) It does not have the right at the end of the reporting period to defer settlement of the liability at least twelve months after the reporting period.

The Segment classifies liabilities that do not meet the above criteria as non-current liabilities.

(4) Translation of foreign currency transactions

A. Foreign currency translation and presentation

Items included in the financial statements of the Segment are measured using the currency of the primary economic environment in which the Segment operates (the "functional currency"). Functional currency and bookkeeping currency of the Segment is New Taiwan Dollars.

B. Foreign currency transactions and balances

~160~

(5) Cash and cash equivalents

A. Cash and cash equivalents includes cash on hand, deposits held at call with banks, and other short-term highly liquid investments.

(6) Financial assets at fair value through profit or loss

A. Financial assets at fair value through profit or loss are financial assets that are not measured at amortized cost or fair value through other comprehensive income.

B. On a regular way purchase or sale basis, financial assets at fair value through profit or loss are recognized and derecognized using trade date accounting.

C. At initial recognition, the Segment measures the financial assets at fair value and recognizes the transaction costs in profit or loss. The Segment subsequently measures the financial assets at fair value and recognizes the gain or loss in profit or loss.

D. The Segment recognizes the dividend income when the right to receive payment is established, future economic benefits associated with the dividend will flow to the Segment and the amount of the dividend can be measured reliably.

(7) Financial liabilities at fair value through profit or loss

B. At initial recognition, the Segment measures the financial liabilities at fair value. All related transaction costs are recognized in profit or loss. The Segment subsequently measures these financial liabilities at fair value with any gain or loss recognized in profit or loss.

~161~

(8) Income tax

A. Current income tax

B. Deferred income tax

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

~162~

~163~

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

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

6. DETAILS OF SIGNIFICANT ACCOUNTS

Cash and cash equivalents

	December 31, 2025	December 31, 2024
Current deposits	$ 128,599	$ 41,221
Time deposits	1,696,600	1,896,497
	$ 1,825,199	$ 1,937,718

(9) Financial assets at fair value through profit or loss - current

	December 31, 2025	December 31, 2024
Investment securities	$ 27	$ 27
Valuation adjustment	( 27)	( 27)
Subtotal	-	-
Futures guarantee deposits receivable	6,409,144	3,358,908
Options bought	1,166	168
	$ 6,410,310	$ 3,359,076

Futures guarantee deposits receivable represents guarantee deposits for futures contracts of the Segment.

(10) Inter-department account

It pertains to money transfer among other segments.

(11) Appropriated operating capital

As of December 31, 2025, the Appropriated operating capital capital of the Segment is $2,300,000.

7. Related Party Transactions

(1) Names of related parties and relationship

Names of related parties	Relationship with the Company
President Futures Corp.	Subsidiary of the Company PSC

(2) Significant related party transactions

A. Futures guarantee deposits receivable

	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 6,344,199	$ 3,249,793

B. Settlement fund

	December 31, 2025	December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 3,000	$ 3,000

C. Clearing charges

	Year ended December 31, 2025	Year ended December 31, 2024
Subsidiary of the Company PSC:
President Futures Corp.	$ 15,197	$ 12,733

Pledged Assets

Assets	December 31, 2025	December 31, 2024	Purposes
Pledged time deposits
(stated as other non-current asset)
- Operating guarantee deposits	$ 10,000	$ 10,000	Security deposits

SIGNIFICANT COMMITMENTS

None.

SIGNIFICANT LOSS FROM NATURAL DISASTER

None.

SIGNIFICANT SUBSEQUENT EVENT

None.

(Blank Below)

DERIVATIVE INSTRUMENT TRANSACTION

(1) Derivative instrument

A. Nominal principal or contract size and credit risk:

December 31, 2025

Item	Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
		Long/Short	Number of contracts
Futures contract	FICBF	Short	106	$ 4,102	$ 4,049	Trade
	FICDF	Short	10	29,831	31,200	Trade
	FICFF	Short	75	6,054	5,880	Trade
	FICGF	Short	33	1,983	2,016	Trade
	FICHF	Short	149	3,601	3,665	Trade
	FICKF	Long	1	141	151	Trade
	FICMF	Long	55	2,161	2,255	Trade
	FICSF	Short	44	2,861	2,812	Trade
	FICUF	Long	96	2,083	2,083	Trade
	FICXF	Short	32	2,093	2,032	Trade
	FICYF	Long	2	780	778	Trade
	FICZF	Short	5	1,832	1,905	Trade
	FIDAF	Short	15	1,542	1,665	Trade
	FIDFF	Long	6	280	280	Trade
	FIDGF	Short	62	4,051	4,011	Trade
	FIDHF	Long	3	1,387	1,386	Trade
	FIDIF	Short	2	154	159	Trade
	FIDNF	Long	5	335	339	Trade
	FIDQF	Short	25	750	860	Trade
	FIDSF	Short	40	2,028	2,100	Trade
	FIEHF	Long	2	379	390	Trade
	FIEMF	Short	12	2,095	2,026	Trade
	FIFNF	Long	10	701	671	Trade
	FIFTF	Long	4	798	746	Trade
	FIFWF	Long	131	4,065	3,969	Trade
	FIFZF	Long	7	1,101	1,169	Trade
	F1F	Short	9	4,488	4,480	Trade
	FIGHF	Short	9	4,302	4,365	Trade
	FIGRF	Long	3	1,455	1,494	Trade
	FIGXF	Long	1	414	417	Trade
	FIGYF	Long	2	324	320	Trade
	FIGZF	Long	5	296	264	Trade
	FIHAF	Long	202	6,174	6,161	Trade
	FIHIF	Long	4	276	270	Trade
	FIHLF	Short	25	1,888	2,003	Trade
	FIHOF	Long	9	1,885	2,106	Trade
	FIIF	Long	6	1,225	1,422	Trade
	FIIRF	Long	2	859	888	Trade
	FIIXF	Long	4	1,223	1,284	Trade
FIJPF	Short	17	1,962	1,992	Trade

~165~

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIJSF	Short	15	$ 2,067	$ 2,064	Trade
FIJWF	Long	2	353	343	Trade
FIJZF	Long	188	6,096	5,659	Trade
FIKCF	Long	1	338	349	Trade
FIKDF	Long	2	529	536	Trade
FIKFF	Long	3	262	253	Trade
FIKIF	Long	2	362	340	Trade
FIKKF	Long	65	4,027	3,855	Trade
FIKUF	Short	20	1,426	1,388	Trade
FIMQF	Long	1	236	235	Trade
FIMTX	Long	2,735	3,950,647	3,978,712	Trade
FIMTX	Short	2,932	4,230,071	4,256,582	Trade
FIMX1	Short	15	21,584	21,715	Trade
FIMYF	Long	26	6,178	6,032	Trade
FINAF	Long	5	1,875	1,840	Trade
FINBF	Long	6	1,831	1,764	Trade
FINDF	Long	7	3,343	3,920	Trade
FINEF	Long	2	458	502	Trade
FINGF	Long	50	8,491	8,000	Trade
FINMF	Long	2	379	344	Trade
FIOLF	Long	4	965	1,004	Trade
FIOTF	Long	2	2,448	2,476	Trade
FIOUF	Long	47	6,155	5,969	Trade
FIOVF	Long	1	980	988	Trade
FIOYF	Long	2	470	462	Trade
FIPBF	Short	31	1,175	1,257	Trade
FIPCF	Long	14	2,045	1,968	Trade
FIPKF	Long	1	135	135	Trade
FIPPF	Long	70	5,788	5,740	Trade
FIPUF	Long	7	1,000	1,012	Trade
FIPWF	Long	5	2,144	2,248	Trade
FIQNF	Short	5	731	728	Trade
FIQRF	Short	36	1,977	1,980	Trade
FIQSF	Long	2	49	49	Trade
FIQUF	Long	6	557	571	Trade
FIQXF	Short	13	2,035	2,046	Trade
FIQZF	Short	43	3,446	3,423	Trade
FIRCF	Long	3	306	307	Trade
FIRLF	Long	10	533	558	Trade
FIROF	Long	29	4,041	4,008	Trade
RTF	Long	25	3,503	3,490	Trade
FIRWF	Long	3	624	642	Trade
FISEF	Long	2	246	237	Trade
FISFF	Long	2	334	331	Trade
FISKF	Long	3	454	449	Trade
FITE	Long	7	48,271	48,853	Trade
FITE	Short	7	48,172	48,720	Trade
FITJF	Long	16	10,954	10,918	Trade
FITJF	Short	7	4,768	4,781	Trade
FITMF	Long	4,570	1,318,151	1,329,518	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FITMF	Short	4,304	$ 1,243,005	$ 1,249,091	Trade
FITX	Long	368	2,105,956	2,141,302	Trade
FITX	Short	253	1,454,762	1,472,615	Trade
FIUAF	Short	6	2,070	2,040	Trade
FIUBF	Long	2	2,386	2,224	Trade
FIUHF	Long	15	2,057	2,265	Trade
FIULF	Long	3	303	303	Trade
FIUNF	Short	24	30,894	30,769	Trade
FIUOF	Short	6	1,947	2,109	Trade
FIUWF	Long	2	454	452	Trade
FIUZF	Long	4	382	382	Trade
FIXJ	Long	12	37,404	37,270	Trade
FIZEF	Long	32	27,686	27,916	Trade
FIZEF	Short	32	27,631	27,840	Trade
FICLF	Short	4	327	322	Trade
FICAF	Short	204	24,446	24,889	Hedge
FICBF	Short	117	4,421	4,469	Hedge
FICCF	Long	144	13,075	14,213	Hedge
FICDF	Long	38	114,557	119,320	Hedge
FICDF	Short	943	2,819,226	2,944,130	Hedge
FICEF	Short	12	2,326	2,311	Hedge
FICFF	Short	42	3,452	3,293	Hedge
FICGF	Short	34	2,054	2,083	Hedge
FICHF	Short	15	349	369	Hedge
FICNF	Long	6	561	604	Hedge
FICRF	Short	3	169	167	Hedge
FICSF	Short	357	23,618	22,807	Hedge
FICUF	Short	111	2,351	2,409	Hedge
FICWF	Short	9	465	428	Hedge
FICXF	Short	24	1,572	1,530	Hedge
FICYF	Long	188	68,552	73,508	Hedge
FICYF	Short	1,321	437,075	513,869	Hedge
FICZF	Short	111	41,754	42,346	Hedge
FIDAF	Long	548	60,922	60,828	Hedge
FIDBF	Short	18	718	731	Hedge
FIDCF	Short	97	4,077	4,026	Hedge
FIDEF	Short	26	1,515	1,495	Hedge
FIDFF	Short	29	1,354	1,356	Hedge
FIDGF	Short	92	6,097	5,952	Hedge
FIDHF	Long	482	151,268	224,130	Hedge
FIDHF	Short	984	443,059	455,774	Hedge
FIDIF	Short	411	31,362	32,592	Hedge
FIDKF	Short	2	1,060	1,096	Hedge
FIDLF	Short	2	524	526	Hedge
FIDOF	Long	3	238	236	Hedge
FIDQF	Long	89	3,034	3,062	Hedge
FIDQF	Short	3	98	104	Hedge
FIDVF	Short	271	769,062	783,190	Hedge
FIDWF	Short	7	787	778	Hedge
FIDXF	Short	183	52,428	55,555	Hedge

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIDYF	Short	9	$ 658	$ 668	Hedge
FIEEF	Short	49	1,146	1,161	Hedge
FIEGF	Short	12	191	187	Hedge
FIEHF	Short	13	2,397	2,538	Hedge
FIEKF	Short	3	81	80	Hedge
FIEYF	Short	3	42	41	Hedge
FIFEF	Short	69	5,105	4,914	Hedge
FIFFF	Short	4	1,581	1,552	Hedge
FIFKF	Short	3	186	178	Hedge
FIFNF	Short	20	1,435	1,342	Hedge
FIFQF	Short	28	9,315	9,250	Hedge
FIFRF	Short	484	928,182	935,464	Hedge
FIFSF	Short	8	366	362	Hedge
FIFTF	Short	157	29,979	29,273	Hedge
FIFVF	Short	3	146	133	Hedge
FIFWF	Short	6	187	182	Hedge
FIFZF	Short	1,611	242,501	269,062	Hedge
FIGAF	Short	2	233	233	Hedge
FIGCF	Short	23	2,953	2,857	Hedge
FIGHF	Short	2	954	970	Hedge
FIGIF	Short	4	810	773	Hedge
FIGKF	Short	1	239	235	Hedge
FIGMF	Short	10	1,105	1,106	Hedge
FIGOF	Short	1	1,910	1,910	Hedge
FIGRF	Short	68	32,296	33,879	Hedge
FIGUF	Short	26	7,709	7,930	Hedge
FIGXF	Short	33	13,548	13,764	Hedge
FIGYF	Short	3	490	481	Hedge
FIGZF	Short	15	804	791	Hedge
FIHAF	Short	22	666	671	Hedge
FIHCF	Long	61	6,048	5,996	Hedge
FIHIF	Short	10	702	676	Hedge
FIHOF	Short	19	4,592	4,446	Hedge
FIHQF	Short	37	1,966	1,935	Hedge
FIHSF	Short	186	13,403	13,657	Hedge
FIIHF	Short	21	582	559	Hedge
FIIIF	Short	36	7,581	8,532	Hedge
FIIJF	Short	11	54,088	55,220	Hedge
FIIOF	Short	1	763	756	Hedge
FIIPF	Long	5	1,682	1,705	Hedge
FIIQF	Short	27	7,460	7,452	Hedge
FIIRF	Short	204	89,912	90,611	Hedge
FIIXF	Short	125	35,863	40,125	Hedge
FIIYF	Short	85	35,521	34,686	Hedge
FIJBF	Short	11	45,234	47,080	Hedge
FIJMF	Long	9	49,592	49,590	Hedge
FIJMF	Short	62	347,505	341,620	Hedge
FIJNF	Short	4	338	325	Hedge
FIJPF	Short	2	229	234	Hedge
FIJSF	Short	4	558	550	Hedge

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIJWF	Short	115	$ 18,772	$ 19,734	Hedge
FIJZF	Short	12	389	362	Hedge
FIKAF	Short	2	511	504	Hedge
FIKBF	Short	5	1,126	1,140	Hedge
FIKCF	Short	63	21,160	22,003	Hedge
FIKDF	Short	30	7,982	8,040	Hedge
FIKFF	Short	81	6,912	6,836	Hedge
FIKGF	Short	3	621	597	Hedge
FIKIF	Short	94	18,024	15,984	Hedge
FIKOF	Short	3	711	726	Hedge
FIKPF	Short	10	611	599	Hedge
FIKSF	Short	5	2,960	2,890	Hedge
FIKUF	Long	8	550	553	Hedge
FIKUF	Short	2	142	139	Hedge
FIKWF	Long	28	2,645	2,783	Hedge
FILBF	Short	4	2,563	2,556	Hedge
FILEF	Short	6	5,050	5,400	Hedge
FILIF	Short	6	724	707	Hedge
FILMF	Short	1	170	165	Hedge
FILQF	Short	7	600	604	Hedge
FILRF	Short	20	700	692	Hedge
FILUF	Short	5	1,435	1,425	Hedge
FILVF	Short	8	1,737	1,704	Hedge
FILWF	Short	4	3,177	3,104	Hedge
FILXF	Short	97	44,305	45,109	Hedge
FILYF	Short	118	59,134	57,360	Hedge
FIMJF	Short	7	10,938	10,904	Hedge
FIMKF	Short	5	965	982	Hedge
FIMQF	Short	124	25,216	29,140	Hedge
FIMTX	Short	12	17,287	17,408	Hedge
FIMVF	Short	4	421	407	Hedge
FIMYF	Short	2	475	464	Hedge
FINAF	Short	168	58,217	61,831	Hedge
FINBF	Short	3	887	882	Hedge
FINDF	Short	459	192,447	257,040	Hedge
FINEF	Short	145	32,698	36,395	Hedge
FINGF	Short	1	172	160	Hedge
FINIF	Long	3	249	250	Hedge
FINJF	Short	8	533	516	Hedge
FINLF	Long	3	577	557	Hedge
FINMF	Short	2	350	344	Hedge
FINOF	Short	21	4,339	4,528	Hedge
FINVF	Short	30	11,214	11,760	Hedge
FINWF	Long	61	154,912	178,120	Hedge
FINWF	Short	293	684,907	852,630	Hedge
FINYF	Short	556	357,478	365,665	Hedge
FIOEF	Short	8	124	126	Hedge
FIOJF	Short	26	6,844	7,051	Hedge
FIOKF	Short	4	597	610	Hedge
FIOLF	Short	149	33,485	37,362	Hedge

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIOOF	Short	45	$ 7,266	$ 7,695	Hedge
FIOPF	Short	44	104,381	104,280	Hedge
FIORF	Long	2	236	221	Hedge
FIOSF	Short	177	3,728	3,494	Hedge
FIOTF	Short	23	28,160	28,474	Hedge
FIOVF	Short	25	23,420	24,700	Hedge
FIOWF	Long	2	1,621	1,622	Hedge
FIOXF	Short	2	9,400	9,240	Hedge
FIOYF	Short	73	16,236	16,863	Hedge
FIOZF	Short	37	17,497	18,652	Hedge
FIPAF	Short	6	2,444	2,442	Hedge
FIPBF	Long	26	1,083	1,054	Hedge
FIPFF	Short	16	5,817	5,888	Hedge
FIPJF	Short	57	173,706	188,670	Hedge
FIPKF	Long	3	398	406	Hedge
FIPLF	Short	1	63	62	Hedge
FIPNF	Short	6	744	735	Hedge
FIPQF	Long	30	15,016	16,800	Hedge
FIPQF	Short	68	35,237	38,148	Hedge
FIPRF	Short	31	6,670	6,603	Hedge
FIPSF	Long	52	8,423	9,017	Hedge
FIPTF	Short	8	15,227	16,190	Hedge
FIPUF	Short	419	59,955	60,546	Hedge
FIPVF	Short	1	8,380	8,990	Hedge
FIPWF	Short	168	71,796	75,516	Hedge
FIPXF	Short	1	1,416	1,452	Hedge
FIPYF	Long	3	214	218	Hedge
FIQAF	Short	18	11,865	13,167	Hedge
FIQCF	Short	14	1,781	1,691	Hedge
FIQFF	Short	977	142,315	152,427	Hedge
FIQGF	Short	16	811	787	Hedge
FIQHF	Short	38	1,438	1,438	Hedge
FIQJF	Short	33	1,464	1,486	Hedge
FIQLF	Short	10	2,724	2,810	Hedge
FIQMF	Short	11	219	213	Hedge
FIQNF	Short	447	49,375	65,041	Hedge
FIQOF	Short	4	339	330	Hedge
FIQRF	Short	40	2,210	2,200	Hedge
FIQSF	Short	90	2,181	2,190	Hedge
FIQTF	Short	85	14,726	15,198	Hedge
FIQUF	Short	59	5,592	5,617	Hedge
FIQXF	Long	7	1,118	1,102	Hedge
FIQZF	Short	306	24,510	24,356	Hedge
FIRAF	Short	101	302,496	305,020	Hedge
FIRCF	Long	9	962	914	Hedge
FIREF	Short	8	850	816	Hedge
FIRFF	Short	8	1,039	1,044	Hedge
FIRGF	Short	8	2,151	2,204	Hedge
FIRKF	Long	2	2,716	2,744	Hedge

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIRLF	Long	121	$ 6,540	$ 6,752	Hedge
FIROF	Short	1	139	138	Hedge
FIRSF	Short	63	11,829	10,934	Hedge
FIRVF	Short	266	24,611	25,702	Hedge
FIRWF	Short	230	48,999	49,220	Hedge
FIRXF	Long	5	814	907	Hedge
FIRXF	Short	5	865	906	Hedge
FIRZF	Long	1,800	454,090	493,200	Hedge
FIRZF	Short	1,217	330,865	332,799	Hedge
FISAF	Short	1	580	567	Hedge
FISDF	Short	11	3,261	3,300	Hedge
FISEF	Short	275	32,743	32,588	Hedge
FISFF	Short	362	56,730	59,911	Hedge
FISJF	Short	1	235	235	Hedge
FISKF	Short	33	4,890	4,943	Hedge
FISLF	Long	1	24	24	Hedge
FISVF	Short	16	5,824	6,008	Hedge
FISZF	Long	10	321	353	Hedge
FITX	Short	76	437,268	441,013	Hedge
FIUBF	Short	49	57,309	54,500	Hedge
FIUCF	Short	13	2,844	2,795	Hedge
FIUFF	Short	2	196	192	Hedge
FIUHF	Short	219	31,674	33,069	Hedge
FIULF	Short	88	8,429	8,893	Hedge
FIUOF	Short	222	72,309	78,050	Hedge
FIUTF	Short	3	554	567	Hedge
FIUVF	Short	1	4,510	4,520	Hedge
FIUWF	Short	62	14,215	14,013	Hedge
FIUYF	Short	4	1,466	1,456	Hedge
FIUZF	Short	131	12,638	12,516	Hedge
FIVAF	Short	22	1,755	1,694	Hedge
FIVBF	Short	24	1,345	1,309	Hedge
FIVCF	Short	5	1,600	1,609	Hedge
FIVDF	Short	33	2,552	2,568	Hedge
FICAF	Short	17	2,027	2,074	Trade
FICBF	Long	178	6,572	6,800	Trade
FICCF	Long	347	34,530	34,249	Trade
FICDF	Long	205	631,770	639,600	Trade
FICDF	Short	235	713,078	735,550	Trade
FICEF	Long	76	14,561	14,638	Trade
FICFF	Long	13	1,045	1,019	Trade
FICGF	Short	3	185	183	Trade
FICHF	Short	21	482	517	Trade
FICJF	Long	4	248	250	Trade
FICKF	Long	136	19,389	20,563	Trade
FICLF	Long	69	5,618	5,555	Trade
FICMF	Long	614	25,815	25,174	Trade
FICNF	Short	15	1,449	1,509	Trade
FICQF	Long	70	10,670	10,864	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FICRF	Long	4	$ 226	$ 223	Trade
FICSF	Long	243	15,039	15,523	Trade
FICUF	Long	70	1,488	1,519	Trade
FICWF	Short	15	803	713	Trade
FICXF	Short	17	1,112	1,080	Trade
FICYF	Short	362	134,131	140,818	Trade
FICZF	Long	6	2,209	2,286	Trade
FIDAF	Short	19	2,104	2,109	Trade
FIDBF	Short	13	513	528	Trade
FIDCF	Long	3	125	125	Trade
FIDEF	Long	39	2,271	2,243	Trade
FIDFF	Long	50	2,236	2,335	Trade
FIDGF	Long	80	5,391	5,176	Trade
FIDHF	Short	84	38,677	38,950	Trade
FIDIF	Long	74	5,751	5,868	Trade
FIDJF	Long	2	2,371	2,200	Trade
FIDKF	Short	19	10,067	10,412	Trade
FIDLF	Short	12	3,164	3,165	Trade
FIDNF	Short	94	6,299	6,322	Trade
FIDOF	Short	4	320	314	Trade
FIDPF	Short	5	299	294	Trade
FIDQF	Long	841	27,172	28,930	Trade
FIDSF	Long	159	8,425	8,348	Trade
FIDVF	Short	99	279,485	286,110	Trade
FIDWF	Short	2	224	222	Trade
FIDXF	Short	29	8,737	8,811	Trade
FIDYF	Long	3	222	223	Trade
FIDZF	Short	1	104	102	Trade
FIEEF	Long	7	164	166	Trade
FIERF	Short	17	271	265	Trade
FIEHF	Short	9	1,646	1,757	Trade
FIEKF	Short	4	109	107	Trade
FIEMF	Short	8	1,381	1,350	Trade
FIEYF	Short	1	14	14	Trade
FIFCF	Short	10	305	316	Trade
FIFFF	Short	4	1,588	1,552	Trade
FIFKF	Short	8	494	474	Trade
FIFQF	Short	5	1,607	1,655	Trade
FIFRF	Short	406	765,416	784,468	Trade
FIFSF	Short	22	1,001	994	Trade
FIFTF	Short	36	6,905	6,710	Trade
FIFVF	Long	6	282	266	Trade
FIFWF	Short	18	575	545	Trade
FIFY1	Long	135	7,355	7,078	Trade
FIFZF	Short	105	17,639	17,535	Trade
FIGAF	Long	19	2,253	2,215	Trade
FIGCF	Short	22	2,798	2,732	Trade
FIGHF	Short	11	5,237	5,332	Trade
FIGIF	Long	7	1,424	1,352	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIGJF	Long	5	$ 5,202	$ 4,915	Trade
FIGKF	Short	1	232	235	Trade
FIGLF	Short	7	535	522	Trade
FIGNF	Short	18	742	722	Trade
FIGOF	Short	2	3,938	3,820	Trade
FIGRF	Long	42	21,527	20,916	Trade
FIGUF	Long	2	620	610	Trade
FIGVF	Short	15	905	864	Trade
FIGXF	Short	8	3,139	3,336	Trade
FIGYF	Short	3	489	481	Trade
FIGZF	Short	10	601	527	Trade
FIG2F	Short	15	8,261	8,747	Trade
FIHAF	Long	39	1,121	1,190	Trade
FIHCF	Long	18	1,709	1,769	Trade
FIHHF	Short	42	1,103	1,088	Trade
FIHIF	Long	18	1,177	1,217	Trade
FIHLF	Short	29	2,206	2,323	Trade
FIHOF	Long	60	12,756	14,040	Trade
FIHQF	Long	2	104	105	Trade
FIHSF	Long	8	588	587	Trade
FIHSF	Short	15	1,106	1,103	Trade
FIIAF	Short	15	481	483	Trade
FIIHF	Short	15	423	399	Trade
FIIIF	Short	4	791	948	Trade
FIIMF	Long	107	29,752	29,737	Trade
FIIOF	Long	1	745	758	Trade
FIIPF	Long	47	15,751	15,997	Trade
FIIQF	Long	2	592	552	Trade
FIIRF	Short	64	28,521	28,438	Trade
FIITF	Long	11	1,892	1,771	Trade
FIIXF	Short	34	10,709	10,914	Trade
FIIYF	Short	2	816	816	Trade
FIIZF	Short	6	395	378	Trade
FIJBF	Short	50	217,903	214,000	Trade
FIJFF	Short	1	2,640	2,610	Trade
FIJPF	Long	16	2,031	1,875	Trade
FIJSF	Short	2	274	275	Trade
FIJWF	Long	7	1,120	1,201	Trade
FIJZF	Short	29	888	873	Trade
FIKAF	Short	2	484	504	Trade
FIKCF	Short	11	3,715	3,839	Trade
FIKDF	Short	1	270	268	Trade
FIKEF	Long	10	1,966	1,910	Trade
FIKFF	Short	5	415	422	Trade
FIKGF	Short	9	1,851	1,789	Trade
FIKIF	Long	16	3,042	2,720	Trade
FIKKF	Long	3	184	178	Trade
FIKKF	Short	6	370	357	Trade
FIKLF	Short	2	125	121	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIKOF	Long	1	$ 241	$ 242	Trade
FIKPF	Long	16	966	955	Trade
FIKSF	Long	1	601	578	Trade
FIKUF	Long	87	6,411	6,038	Trade
FIKWF	Long	63	6,006	6,232	Trade
FILCF	Long	342	74,756	75,240	Trade
FILEF	Short	5	4,273	4,506	Trade
FILIF	Short	4	470	471	Trade
FILMF	Short	1	175	165	Trade
FILOF	Long	3	148	146	Trade
FILQF	Long	142	12,292	12,255	Trade
FILRF	Long	151	5,241	5,225	Trade
FILUF	Short	13	3,742	3,705	Trade
FILVF	Short	1	217	213	Trade
FILXF	Short	30	13,964	13,950	Trade
FILYF	Short	51	25,571	24,826	Trade
FIMBF	Short	3	190	184	Trade
FIMJF	Short	2	3,201	3,112	Trade
FIMKF	Long	9	1,791	1,768	Trade
FIMQF	Long	12	2,834	2,820	Trade
FIMTX	Long	343	497,331	497,866	Trade
FIMTX	Short	29	41,645	42,181	Trade
FIMVF	Short	1	108	102	Trade
FINAF	Long	17	6,466	6,256	Trade
FINBF	Long	6	1,841	1,764	Trade
FINDF	Long	4	2,044	2,240	Trade
FINGF	Long	36	5,787	5,760	Trade
FINJF	Short	4	250	258	Trade
FINLF	Long	9	1,633	1,672	Trade
FINMF	Short	2	364	344	Trade
FINOF	Short	2	428	430	Trade
FINQF	Long	3	2,128	2,157	Trade
FINSF	Long	17	1,796	1,843	Trade
FINUF	Short	2	118	127	Trade
FINVF	Short	1	370	392	Trade
FINWF	Short	76	214,945	221,160	Trade
FINYF	Long	249	161,231	163,842	Trade
FINYF	Short	175	114,052	115,063	Trade
FIODF	Long	6	1,162	1,114	Trade
FIOLF	Short	15	3,469	3,765	Trade
FIOPF	Short	22	52,366	52,140	Trade
FIOQF	Long	1	576	576	Trade
FIORF	Long	21	2,492	2,318	Trade
FIOSF	Long	9	195	178	Trade
FIOTF	Long	5	6,080	6,190	Trade
FIOUF	Long	16	2,063	2,032	Trade
FIOVF	Short	2	1,987	1,976	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIOWF	Long	40	$ 31,372	$ 32,440	Trade
FIOXF	Short	2	9,610	9,240	Trade
FIOYF	Short	7	1,648	1,617	Trade
FIOZF	Long	32	16,083	16,128	Trade
FIPAF	Long	10	4,115	4,070	Trade
FIPBF	Short	8	299	324	Trade
FIPCF	Long	21	3,033	2,953	Trade
FIPEF	Short	1	112	104	Trade
FIPGF	Short	13	719	729	Trade
FIPJF	Short	83	265,691	274,730	Trade
FIPKF	Long	3	397	406	Trade
FIPLF	Short	6	381	371	Trade
FIPMF	Short	1	220	224	Trade
FIPNF	Long	38	4,494	4,655	Trade
FIPQF	Short	37	19,584	20,749	Trade
FIPSF	Long	121	19,928	20,936	Trade
FIPTF	Short	83	149,479	167,660	Trade
FIPUF	Short	72	10,292	10,404	Trade
FIPVF	Short	22	192,508	197,780	Trade
FIPWF	Short	25	10,681	11,238	Trade
FIPXF	Short	1	1,416	1,452	Trade
FIPYF	Long	6	429	436	Trade
FIQAF	Short	11	7,336	8,047	Trade
FIQBF	Short	1	67	72	Trade
FIQCF	Long	9	1,096	1,087	Trade
FIQDF	Short	4	791	765	Trade
FIQEF	Long	6	135	140	Trade
FIQFF	Short	11	1,721	1,721	Trade
FIQJF	Short	6	254	270	Trade
FIQLF	Long	158	43,245	44,398	Trade
FIQNF	Short	61	7,940	8,876	Trade
FIQOF	Short	4	323	330	Trade
FIQPF	Short	6	217	209	Trade
FIQSF	Short	91	2,484	2,211	Trade
FIQTF	Long	24	4,009	4,291	Trade
FIQUF	Short	19	1,781	1,809	Trade
FIQVF	Long	16	1,163	1,133	Trade
FIQWF	Long	67	7,829	6,901	Trade
FIQXF	Long	25	3,962	3,932	Trade
FIQYF	Long	21	1,617	1,588	Trade
FIQZF	Long	290	23,669	23,067	Trade
FIRAF	Short	97	282,059	292,940	Trade
FIRBF	Long	10	1,634	1,610	Trade
FIRCF	Long	40	4,075	4,046	Trade
FIRDF	Short	11	419	407	Trade
FIREF	Short	5	536	510	Trade
FIRFF	Short	3	389	392	Trade
FIRGF	Short	38	10,360	10,469	Trade
FIRJF	Long	121	9,214	9,203	Trade

December 31, 2025

Item	Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
		Long/Short	Number of contracts
	FIRKF	Short	1	$ 1,388	$ 1,372	Trade
	FIRLF	Short	9	443	502	Trade
	FIRNF	Short	4	471	442	Trade
	FIROF	Short	1	138	138	Trade
	FIRSF	Long	10	1,720	1,735	Trade
	FIRUF	Long	12	3,356	3,336	Trade
	FIRVF	Short	185	17,703	17,871	Trade
	FIRWF	Long	22	4,554	4,708	Trade
	FISBF	Short	16	383	373	Trade
	FISCF	Short	1	30	29	Trade
	FISDF	Short	4	1,212	1,200	Trade
	FISEF	Long	11	1,307	1,304	Trade
	FISFF	Short	98	15,649	16,219	Trade
	FISJF	Long	4	940	940	Trade
	FISKF	Short	1	148	150	Trade
	FISRF	Long	782	50,834	51,456	Trade
	FISRF	Short	1522	97,166	100,072	Trade
	FISVF	Long	1	374	376	Trade
	FISVF	Short	20	7,327	7,510	Trade
	FISZF	Short	10	330	356	Trade
	FITF	Long	6	14,454	14,413	Trade
	FITX	Long	77	446,542	447,282	Trade
	FITX	Short	23	132,980	133,837	Trade
	FIUAF	Short	9	3,125	3,060	Trade
	FIUBF	Short	19	21,820	21,132	Trade
	FIUCF	Short	1	204	215	Trade
	FIUFF	Short	44	4,297	4,228	Trade
	FIUHF	Long	17	2,608	2,567	Trade
	FIULF	Short	32	3,088	3,232	Trade
	FIUOF	Short	80	25,827	28,120	Trade
	FIUPF	Short	2	2,019	1,956	Trade
	FIUQF	Short	5	252	245	Trade
	FIUTF	Short	4	773	756	Trade
	FIUUF	Long	1	132	129	Trade
	FIUWF	Short	14	3,234	3,164	Trade
	FIUXF	Short	10	1,076	1,126	Trade
	FIUYF	Short	13	4,704	4,732	Trade
	FIUZF	Short	16	1,505	1,528	Trade
	FIVAF	Long	3	228	231	Trade
	FIVBF	Short	16	879	872	Trade
	FIVDF	Short	99	7,935	7,702	Trade
	FTSE	Short	1	4,212	4,208	Trade
	US5Y	Long	50	171,334	171,355	Trade
	JNM	Short	9	6,187	6,169	Trade
	JY	Long	3	7,552	7,565	Trade
	MNQ	Long	20	32,330	32,004	Trade
	UB	Long	10	37,427	37,087	Trade
	USD/CNH	Short	5	15,670	15,639	Trade
Options contract	TX1 put	Long	251	123	110	Trade

December 31, 2025

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
TX1 put	Long	21	$ 27	$ 20	Hedge
TXO call	Long	5	93	253	Trade
TX1 put	Long	270	125	119	Trade
TX1 put	Long	300	770	664	Trade

(Blank below)

December 31, 2024

Item	Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
		Long/Short	Number of contracts
Futures contract	FICAF	Short	46	$ 3,302	$ 2,719	Trade
	FICBF	Short	75	3,087	2,925	Trade
	FICCF	Short	35	3,005	3,003	Trade
	FICDF	Long	1	2,170	2,160	Trade
	FICFF	Short	40	3,195	2,832	Trade
	FICNF	Long	60	4,779	4,698	Trade
	FICUF	Long	142	3,081	2,911	Trade
	FIEEF	Long	140	2,991	2,912	Trade
	FIEYF	Long	200	3,013	2,968	Trade
	FIFVF	Long	70	3,047	3,115	Trade
	FIFWF	Long	60	2,528	3,096	Trade
	FIGAF	Long	28	4,015	3,982	Trade
	FIGOF	Long	3	2,828	2,910	Trade
	FIHAF	Long	79	2,995	2,923	Trade
	FIIMF	Long	9	2,961	3,393	Trade
	FIJSF	Short	17	3,237	3,118	Trade
	FIJZF	Long	95	3,030	2,898	Trade
	FIKIF	Long	33	3,056	3,006	Trade
	FIKKF	Long	34	2,953	2,972	Trade
	FILTF	Short	17	3,047	3,053	Trade
	FIMTX	Long	287	332,049	331,312	Trade
	FIMTX	Short	137	159,995	159,190	Trade
	FIMX1	Short	3	3,447	3,455	Trade
	FIMX2	Short	57	65,710	65,650	Trade
	FINVF	Short	11	5,781	6,050	Trade
	FINYF	Long	7	13,762	13,759	Trade
	FINYF	Short	29	56,856	56,927	Trade
	FIOYF	Long	36	3,129	3,179	Trade
	FIOZF	Long	30	9,652	9,720	Trade
	FIPSF	Long	21	3,167	3,007	Trade
	FIPTF	Long	3	4,230	4,020	Trade
	FIPYF	Short	30	3,035	2,931	Trade
	FIQAF	Long	13	5,071	4,355	Trade
	FIQFF	Short	8	848	864	Trade
	FIQHF	Short	60	2,902	3,018	Trade
	FIQVF	Long	30	3,126	2,946	Trade
	FIRVF	Short	72	2,988	3,103	Trade
	FIRWF	Long	69	9,451	9,350	Trade
	FISFF	Long	50	3,006	3,085	Trade
	FISRF	Short	65	12,785	12,760	Trade
	FISVF	Long	20	3,064	3,120	Trade
	SXF	Long	13	5,352	5,348	Trade
	SXF	Short	9	3,678	3,660	Trade
	FITE	Short	50	259,260	256,360	Trade

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FITF	Short	19	$ 40,396	$ 39,999	Trade
FITJF	Short	77	42,530	42,352	Trade
FITMF	Long	1,935	450,286	447,069	Trade
FITMF	Short	50	11,611	11,616	Trade
FITX	Long	254	1,172,275	1,172,979	Trade
FITX	Short	290	1,349,071	1,346,173	Trade
FIUDF	Short	18	15,620	15,480	Trade
FIUFF	Short	42	3,120	2,873	Trade
FIUHF	Short	47	3,185	2,933	Trade
FIUNF	Short	315	344,597	337,019	Trade
FIXIF	Long	1	1,424	1,421	Trade
FIXIF	Short	47	67,290	66,623	Trade
FIZEF	Long	2	1,287	1,285	Trade
FIZEF	Short	2	1,285	1,282	Trade
FICCF	Long	418	35,482	35,864	Hedge
FICCF	Short	3	266	260	Hedge
FICDF	Long	90	196,527	196,400	Hedge
FICDF	Short	345	749,325	745,810	Hedge
FICEF	Short	9	1,654	1,631	Hedge
FICKF	Short	27	3,717	3,701	Hedge
FICNF	Short	10	782	783	Hedge
FICUF	Short	15	335	308	Hedge
FICXF	Long	19	1,812	1,820	Hedge
FICZF	Short	438	200,823	198,153	Hedge
FIDAF	Short	231	36,443	35,049	Hedge
FIDBF	Short	122	6,442	6,294	Hedge
FIDDF	Short	16	383	381	Hedge
FIDHF	Long	45	16,881	16,650	Hedge
FIDHF	Short	184	68,272	67,876	Hedge
FIDJF	Short	3	3,637	3,696	Hedge
FIDOF	Short	10	683	683	Hedge
FIDQF	Short	228	6,706	6,545	Hedge
FIDVF	Short	113	319,937	321,000	Hedge
FIDXF	Short	84	17,934	17,674	Hedge
FIEEF	Short	2	43	42	Hedge
FIEHF	Short	4	909	904	Hedge
FIEMF	Short	2	211	210	Hedge
FIFFF	Short	8	5,044	5,296	Hedge
FIFGF	Long	2	6,130	6,240	Hedge
FIFQF	Short	15	3,021	2,992	Hedge
FIFRF	Short	1	871	862	Hedge
FIFSF	Short	6	322	317	Hedge
FIFTF	Short	9	1,280	1,264	Hedge
FIFVF	Short	5	218	223	Hedge
FIFWF	Short	13	704	671	Hedge
FIGCF	Short	11	1,701	1,643	Hedge
FIGHF	Long	43	23,276	23,478	Hedge
FIGIF	Short	7	2,543	2,562	Hedge
FIGKF	Short	1	310	306	Hedge

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIGOF	Short	1	$ 946	$ 970	Hedge
FIGRF	Short	3	669	675	Hedge
FIGUF	Short	3	1,001	1,002	Hedge
FIGWF	Short	7	2,143	2,121	Hedge
FIGXF	Short	6	2,209	2,327	Hedge
FIHAF	Short	11	419	407	Hedge
FIHBF	Short	2	404	368	Hedge
FIHCF	Short	66	6,716	6,527	Hedge
FIHHF	Short	19	420	407	Hedge
FIHIF	Short	3	309	305	Hedge
FIHOF	Long	2	473	458	Hedge
FIHSF	Short	258	22,984	23,024	Hedge
FIIJF	Long	1	5,040	5,420	Hedge
FIIMF	Short	10	3,286	3,770	Hedge
FIIPF	Short	13	6,121	6,279	Hedge
FIIRF	Short	95	27,755	27,075	Hedge
FIIXF	Long	11	2,242	2,244	Hedge
FIIYF	Short	62	24,179	25,916	Hedge
FIIZF	Short	1	72	71	Hedge
FIJSF	Short	1	188	183	Hedge
FIJWF	Short	103	18,192	17,695	Hedge
FIJXF	Short	1	44	50	Hedge
FIJZF	Short	4	134	122	Hedge
FIKAF	Short	2	803	782	Hedge
FIKBF	Long	7	1,094	1,100	Hedge
FIKDF	Short	3	811	834	Hedge
FIKFF	Long	5	339	304	Hedge
FIKGF	Short	8	2,129	2,208	Hedge
FIKIF	Short	2	186	182	Hedge
FIKWF	Long	1	82	83	Hedge
FILBF	Short	4	1,581	1,588	Hedge
FILEF	Short	10	10,342	10,220	Hedge
FILMF	Short	2	623	604	Hedge
FILQF	Long	55	5,575	5,495	Hedge
FILRF	Short	10	354	345	Hedge
FILUF	Short	15	3,747	3,615	Hedge
FILVF	Short	2	475	454	Hedge
FILWF	Short	1	1,022	1,012	Hedge
FILXF	Short	4	4,274	4,338	Hedge
FILYF	Long	15	3,664	3,915	Hedge
FIMAF	Short	1	304	299	Hedge
FIMBF	Short	6	467	468	Hedge
FIMJF	Short	1	800	822	Hedge
FIMTX	Short	4	4,586	4,609	Hedge
FIM1F	Short	96	18,754	18,600	Hedge
FINAF	Short	17	3,825	3,808	Hedge
FINDF	Long	1	162	157	Hedge
FINLF	Long	2	413	400	Hedge
FINMF	Short	29	5,322	5,469	Hedge

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FINOF	Long	2	$ 556	$ 536	Hedge
FINQF	Short	7	5,483	5,530	Hedge
FINVF	Short	20	10,675	10,997	Hedge
FINYF	Short	10	19,761	19,630	Hedge
FIOHF	Short	1	373	355	Hedge
FIOJF	Short	191	44,085	44,408	Hedge
FIOLF	Short	300	77,608	81,300	Hedge
FIOOF	Short	41	5,450	5,343	Hedge
FIOPF	Short	137	202,869	212,076	Hedge
FIOQF	Short	7	4,128	4,088	Hedge
FIORF	Long	10	1,290	1,358	Hedge
FIOTF	Short	9	6,452	7,011	Hedge
FIOVF	Short	27	9,630	9,228	Hedge
FIOYF	Short	2	174	177	Hedge
FIOZF	Short	11	3,603	3,568	Hedge
FIPAF	Short	4	2,031	2,063	Hedge
FIPBF	Long	2	77	76	Hedge
FIPBF	Short	10	383	380	Hedge
FIPJF	Long	51	61,749	63,036	Hedge
FIPJF	Short	66	79,724	81,444	Hedge
FIPNF	Short	24	4,813	4,800	Hedge
FIPPF	Short	5	598	585	Hedge
FIPQF	Long	2	237	235	Hedge
FIPRF	Long	4	873	879	Hedge
FIPSF	Short	163	24,799	23,341	Hedge
FIPTF	Long	70	91,778	93,788	Hedge
FIPUF	Short	687	96,854	97,640	Hedge
FIPWF	Short	129	33,418	33,992	Hedge
FIPXF	Short	1	2,010	1,954	Hedge
FIPYF	Short	86	8,619	8,402	Hedge
FIQAF	Short	23	8,771	7,704	Hedge
FIQEF	Short	64	3,422	3,465	Hedge
FIQFF	Short	386	41,618	41,773	Hedge
FIQGF	Long	4	226	226	Hedge
FIQGF	Short	5	280	283	Hedge
FIQHF	Short	1	50	50	Hedge
FIQIF	Short	10	119	112	Hedge
FIQJF	Short	73	3,764	3,729	Hedge
FIQLF	Short	2	823	790	Hedge
FIQMF	Short	71	2,243	2,350	Hedge
FIQNF	Long	14	737	742	Hedge
FIQRF	Short	31	1,876	1,910	Hedge
FIQWF	Long	13	2,676	2,613	Hedge
FIQXF	Long	3	486	486	Hedge
FIRAF	Short	1	1,278	1,248	Hedge
FIRBF	Short	4	1,025	980	Hedge
FIRFF	Short	18	3,511	3,534	Hedge
FIRGF	Long	1	150	154	Hedge
FIRKF	Short	22	10,305	10,582	Hedge

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIRLF	Long	5	$ 187	$ 179	Hedge
FIRSF	Short	42	13,913	14,071	Hedge
FIRUF	Long	8	2,593	2,632	Hedge
FIRVF	Short	40	1,607	1,722	Hedge
FIRWF	Long	1	135	136	Hedge
FIRWF	Short	66	8,855	8,943	Hedge
FIRZF	Short	4,120	1,205,575	1,185,466	Hedge
FISAF	Short	15	7,964	8,085	Hedge
FISEF	Short	80	5,932	6,192	Hedge
FISFF	Short	32	1,964	1,976	Hedge
FISIF	Short	1	324	326	Hedge
FISJF	Short	3	637	636	Hedge
FISLF	Long	73	2,005	1,993	Hedge
FISQF	Short	1	359	354	Hedge
FISVF	Short	39	5,794	6,084	Hedge
FISWF	Long	44	753	724	Hedge
FISZF	Long	5	259	243	Hedge
FITX	Short	88	409,382	405,574	Hedge
FIUHF	Short	49	3,127	3,059	Hedge
FIUJF	Short	17	2,723	2,694	Hedge
FIUKF	Short	1	313	298	Hedge
FICAF	Short	96	6,679	5,674	Trade
FICBF	Short	308	12,672	12,012	Trade
FICCF	Long	436	36,944	37,470	Trade
FICDF	Long	13	28,180	28,080	Trade
FICDF	Short	38	82,989	82,460	Trade
FICEF	Long	31	5,812	5,617	Trade
FICFF	Long	20	1,506	1,420	Trade
FICFF	Short	134	10,427	9,487	Trade
FICGF	Short	2	150	150	Trade
FICHF	Short	92	2,856	2,714	Trade
FICKF	Long	3	404	411	Trade
FICLF	Long	57	4,474	4,406	Trade
FICMF	Long	14	486	487	Trade
FICNF	Long	42	3,351	3,289	Trade
FICQF	Long	6	1,004	970	Trade
FICRF	Long	5	315	317	Trade
FICSF	Long	100	4,961	4,760	Trade
FICSF	Short	126	6,260	5,998	Trade
FICUF	Long	399	8,705	8,180	Trade
FICWF	Short	12	868	811	Trade
FICXF	Short	53	4,966	5,077	Trade
FICYF	Short	117	6,972	6,833	Trade
FICZF	Short	109	50,129	49,268	Trade
FIDAF	Short	9	1,369	1,364	Trade
FIDBF	Long	79	4,108	4,076	Trade
FIDDF	Long	144	3,432	3,427	Trade
FIDFF	Long	76	4,922	4,788	Trade
FIDGF	Short	85	5,376	4,616	Trade

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIDHF	Long	129	$ 48,127	$ 47,472	Trade
FIDIF	Short	21	903	830	Trade
FIDJF	Long	3	3,696	3,696	Trade
FIDKF	Short	5	2,861	2,870	Trade
FIDLF	Short	1	248	247	Trade
FIDPF	Short	4	218	216	Trade
FIDQF	Short	207	6,439	5,941	Trade
FIDSF	Short	97	7,485	7,712	Trade
FIDVF	Short	59	168,494	167,790	Trade
FIDXF	Long	5	1,082	1,050	Trade
FIDYF	Short	387	33,191	31,231	Trade
FIDZF	Short	2	211	206	Trade
FIEEF	Long	396	8,549	8,237	Trade
FIEGF	Short	6	90	88	Trade
FIEHF	Short	5	1,121	1,130	Trade
FIEKF	Long	99	2,949	2,772	Trade
FIEMF	Short	5	518	524	Trade
FIEZF	Long	31	3,297	3,150	Trade
FIFCF	Short	12	465	422	Trade
FIFEF	Long	14	922	848	Trade
FIFFF	Short	2	1,263	1,324	Trade
FIFKF	Short	10	1,013	986	Trade
FIFNF	Short	10	1,051	1,014	Trade
FIFRF	Short	17	14,227	14,654	Trade
FIFSF	Short	8	445	423	Trade
FIFTF	Long	33	4,694	4,633	Trade
FIFVF	Long	47	2,060	2,092	Trade
FIFWF	Long	180	7,935	9,288	Trade
FIFY1	Long	43	2,517	2,550	Trade
FIFZF	Long	242	8,073	7,139	Trade
FIGAF	Long	5	709	711	Trade
FIGAF	Short	5	713	709	Trade
FIGCF	Short	41	6,484	6,125	Trade
FIGIF	Short	3	1,063	1,098	Trade
FIGKF	Long	12	3,506	3,672	Trade
FIGLF	Short	4	591	583	Trade
FIGNF	Short	21	1,198	1,283	Trade
FIGOF	Short	7	6,316	6,790	Trade
FIGRF	Long	9	2,097	2,025	Trade
FIGUF	Short	9	3,042	3,006	Trade
FIGVF	Short	8	598	599	Trade
FIGWF	Short	14	4,337	4,242	Trade
FIGXF	Long	5	1,784	1,940	Trade
FIGYF	Short	1	101	102	Trade
FIG2F	Short	11	5,595	5,547	Trade
FIHAF	Long	114	4,357	4,218	Trade
FIHBF	Short	14	2,634	2,573	Trade
FIHCF	Short	11	1,036	1,088	Trade
FIHLF	Short	34	3,207	2,972	Trade

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIHQF	Short	2	$ 107	$ 100	Trade
FIHSF	Long	8	739	714	Trade
FIIAF	Short	1	30	30	Trade
FIIIF	Long	3	384	374	Trade
FIIJF	Short	1	5,030	5,420	Trade
FIIMF	Long	12	4,375	4,524	Trade
FIIOF	Long	10	9,696	10,060	Trade
FIIPF	Short	1	472	483	Trade
FIIQF	Short	38	8,056	8,284	Trade
FIIRF	Short	36	10,720	10,260	Trade
FIITF	Short	3	621	606	Trade
FIIXF	Long	48	9,607	9,792	Trade
FIIYF	Short	2	822	836	Trade
FIIZF	Long	28	1,933	1,977	Trade
FIJBF	Short	1	2,750	2,710	Trade
FIJMF	Short	14	41,580	42,980	Trade
FIJNF	Short	1	81	77	Trade
FIJPF	Long	25	3,502	3,430	Trade
FIJSF	Short	8	1,477	1,467	Trade
FIJWF	Short	2	356	344	Trade
FIJZF	Long	350	11,255	10,675	Trade
FIKAF	Long	7	2,744	2,737	Trade
FIKBF	Short	6	939	943	Trade
FIKCF	Short	4	984	988	Trade
FIKDF	Short	2	544	556	Trade
FIKEF	Long	16	3,429	3,488	Trade
FIKFF	Short	5	324	304	Trade
FIKGF	Short	7	1,759	1,932	Trade
FIKIF	Long	60	5,569	5,466	Trade
FIKKF	Long	47	4,081	4,108	Trade
FIKLF	Short	27	2,272	1,995	Trade
FIKOF	Short	2	590	592	Trade
FIKPF	Short	4	361	342	Trade
FIKUF	Short	44	1,666	1,434	Trade
FIKWF	Short	4	311	330	Trade
FILBF	Short	1	398	397	Trade
FILCF	Short	3	697	681	Trade
FILEF	Long	3	3,056	3,066	Trade
FILMF	Short	5	1,625	1,510	Trade
FILOF	Short	11	549	534	Trade
FILQF	Long	189	18,741	18,896	Trade
FILRF	Long	135	4,845	4,658	Trade
FILTF	Short	10	1,798	1,796	Trade
FILUF	Short	6	1,472	1,446	Trade
FILWF	Short	5	5,289	5,060	Trade
FILXF	Short	2	2,106	2,172	Trade
FILYF	Long	15	3,615	3,900	Trade
FILYF	Short	4	964	1,044	Trade
FIMBF	Short	1	78	78	Trade

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIMJF	Short	4	$ 3,264	$ 3,288	Trade
FIMKF	Long	9	1,920	1,949	Trade
FIMQF	Short	1	141	135	Trade
FIMTX	Long	56	64,542	64,523	Trade
FIMTX	Short	451	523,365	521,298	Trade
FIMX1	Long	11	12,558	12,668	Trade
FIMYF	Long	19	7,594	7,600	Trade
FINAF	Short	1	218	224	Trade
FINBF	Long	12	4,331	4,320	Trade
FINEF	Short	14	1,443	1,484	Trade
FINGF	Long	48	7,910	7,315	Trade
FINIF	Short	1	86	88	Trade
FINJF	Short	68	6,248	6,324	Trade
FINLF	Long	15	3,056	3,000	Trade
FINMF	Long	12	2,274	2,263	Trade
FINOF	Short	14	3,928	3,752	Trade
FINQF	Short	1	786	790	Trade
FINSF	Long	34	4,338	4,345	Trade
FINUF	Short	4	428	351	Trade
FINVF	Short	14	7,443	7,700	Trade
FINWF	Short	35	32,923	37,100	Trade
FINYF	Long	59	116,858	115,817	Trade
FINYF	Short	10	19,709	19,655	Trade
FIODF	Long	15	3,195	3,195	Trade
FIOEF	Short	8	134	135	Trade
FIOLF	Short	5	1,330	1,355	Trade
FIOPF	Short	9	13,470	13,932	Trade
FIOQF	Short	1	589	584	Trade
FIORF	Short	6	726	815	Trade
FIOTF	Long	6	4,227	4,674	Trade
FIOUF	Long	53	10,184	9,307	Trade
FIOVF	Short	52	18,495	17,784	Trade
FIOWF	Long	14	10,871	10,668	Trade
FIOXF	Long	3	5,076	5,298	Trade
FIOYF	Long	72	6,156	6,358	Trade
FIOZF	Long	102	33,099	33,110	Trade
FIPAF	Long	11	5,582	5,676	Trade
FIPBF	Short	147	5,774	5,601	Trade
FIPCF	Long	12	2,109	2,165	Trade
FIPEF	Short	2	220	216	Trade
FIPGF	Short	61	3,433	3,367	Trade
FIPJF	Long	17	21,170	20,978	Trade
FIPJF	Short	5	6,230	6,180	Trade
FIPKF	Short	1	87	85	Trade
FIPLF	Short	3	161	162	Trade
FIPMF	Short	1	250	246	Trade
FIPNF	Short	24	4,651	4,800	Trade
FIPPF	Long	91	10,711	10,647	Trade
FIPRF	Short	2	402	440	Trade

December 31, 2024

Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
	Long/Short	Number of contracts
FIPSF	Long	36	$ 5,347	$ 5,155	Trade
FIPTF	Long	2	2,653	2,656	Trade
FIPUF	Short	3	423	426	Trade
FIPWF	Short	6	1,560	1,581	Trade
FIPYF	Short	7	699	684	Trade
FIQAF	Long	16	6,086	5,360	Trade
FIQBF	Short	7	599	588	Trade
FIQCF	Short	2	229	233	Trade
FIQDF	Short	3	627	585	Trade
FIQFF	Short	29	3,135	3,132	Trade
FIQGF	Long	1	57	57	Trade
FIQIF	Short	33	373	370	Trade
FIQJF	Long	192	10,127	9,811	Trade
FIQKF	Long	1	60	59	Trade
FIQLF	Long	5	2,083	1,975	Trade
FIQLF	Short	10	4,163	3,950	Trade
FIQNF	Short	6	272	318	Trade
FIQOF	Short	4	224	221	Trade
FIQQF	Long	30	4,093	4,236	Trade
FIQRF	Long	6	373	370	Trade
FIQTF	Long	26	3,033	3,052	Trade
FIQUF	Short	3	191	188	Trade
FIQVF	Long	37	3,847	3,633	Trade
FIQWF	Long	30	6,256	6,030	Trade
FIQXF	Short	24	3,926	3,888	Trade
FIQYF	Long	79	5,744	5,680	Trade
FIQZF	Long	6	193	190	Trade
FIQZF	Short	212	6,604	6,742	Trade
FIRAF	Long	6	7,529	7,500	Trade
FIRAF	Short	4	5,056	4,992	Trade
FIRBF	Long	15	3,632	3,675	Trade
FIRCF	Short	7	608	631	Trade
FIRDF	Short	4	269	264	Trade
FIREF	Short	8	1,490	1,411	Trade
FIRFF	Long	20	3,832	3,940	Trade
FIRGF	Short	2	296	307	Trade
FIRJF	Long	90	8,100	7,980	Trade
FIRKF	Long	12	5,762	5,772	Trade
FIRLF	Short	5	202	179	Trade
FIRNF	Short	17	3,141	2,958	Trade
FIROF	Long	16	2,869	3,024	Trade
FIRRF	Long	70	3,380	3,497	Trade
FIRSF	Short	5	1,696	1,675	Trade
FIRUF	Long	14	4,774	4,598	Trade
FIRVF	Short	36	1,505	1,552	Trade
FIRWF	Long	8	1,104	1,084	Trade
FIRZF	Short	730	208,817	210,417	Trade
FISAF	Short	2	1,080	1,078	Trade
FISBF	Short	1	36	33	Trade

December 31, 2024

Item	Trading category	Open positions		Contract size or paid for (received from) premium(note)	Fair value	Note
		Long/Short	Number of contracts
	FISCF	Long	107	$ 3,378	$ 3,467	Trade
	FISDF	Long	16	4,852	4,944	Trade
	FISEF	Long	2	152	155	Trade
	FISFF	Long	7	431	432	Trade
	FISIF	Short	4	1,288	1,302	Trade
	FISJF	Long	16	3,402	3,392	Trade
	FISLF	Short	165	4,437	4,505	Trade
	FISQF	Short	5	1,791	1,768	Trade
	FISRF	Short	215	42,434	42,246	Trade
	FISVF	Long	7	1,085	1,092	Trade
	FISZF	Long	6	299	292	Trade
	FITE	Short	6	30,671	30,763	Trade
	FITF	Long	9	18,919	18,947	Trade
	FITX	Long	58	267,143	267,310	Trade
	FITX	Short	104	481,804	480,854	Trade
	FIUCF	Short	2	400	448	Trade
	FIUFF	Short	111	8,118	7,592	Trade
	FIUGF	Short	1	1,404	1,412	Trade
	FIUHF	Long	6	382	374	Trade
	FIUIF	Long	1	70	71	Trade
	FIUJF	Long	2	314	317	Trade
	FIUJF	Short	2	316	318	Trade
	FIZEF	Long	1	631	643	Trade
	FIZEF	Short	1	631	641	Trade
	FIZFF	Long	3	1,579	1,579	Trade
	FIZFF	Short	3	1,582	1,583	Trade
	FIBRF	Long	4	9,734	9,788	Trade
	CUS	Long	5	16,470	16,425	Trade
	JNM	Long	74	43,236	43,282	Trade
	JY	Short	1	2,625	2,627	Trade
	MNQ	Long	231	330,247	321,511	Trade
	MYM	Long	22	15,637	15,461	Trade
Options contract	TX1 call	Long	50	86	60	Hedge
	TX1 put	Long	50	83	98	Hedge
	TXO call	Long	3	10	10	Trade

Note: Futures contracts are contract value when trading future contracts; Options contracts are premium received or paid when buying or selling options. Losses are borne by the futures merchants of trading counterparties when transaction of stock index futures default, so the credit risk of the Segment is low.

B. Market price risk

(A) The Company deals in index options, stock options stock index futures, treasury bond future and commercial paper rate futures. Market risk is influenced by the changes of the products mentioned above. Each contract has its fair value. The Segment has set up stop-loss point during operations and the losses should be within the expected range, so there is no significant market price risk.

(B) The foreign exchange exposure of the Futures Segment was as follows:

	December 31, 2025
	USD	EUR	HKD	JPY	RMB	Others	Total
Financial assets in foreign currencies
Futures guarantee deposits receivable	$ 52,168	($ 2,271)	$ 4,258	$ 4,485	$ 11,058	$ 2,256	$ 71,954
Note: As of December 31, 2025, foreign exchange rates of the above currencies to TWD were 1 USD = 31.430 TWD; 1 EUR = 36.900 TWD; 1 HKD = 4.038 TWD; 1 JPY = 0.201 TWD; and 1 RMB = 4.496 TWD, respectively.
	December 31, 2024
---	---	---	---	---	---	---	---
	USD	EUR	HKD	JPY	RMB	Others	Total
Financial assets in foreign currencies
Futures guarantee deposits receivable	$ 40,914	$ 1,690	$ 8,996	$ 4,818	$ 12,054	$ 15,065	$ 83,537
Note: As of December 31, 2024, foreign exchange rates of the above currencies to TWD were 1 USD = 32.785 TWD; 1 EUR = 34.140 TWD; 1 HKD = 4.222 TWD; 1 JPY = 0.210 TWD; and 1 RMB = 4.478 TWD, respectively.

C. The amount, period and uncertainty of liquidity risk, cash flow risk and future cash demand: As of December 31, 2025, the option and futures open positions held by the Segment can be closed at a reasonable price in the market, so the risk of liquidity is extremely low.

Future trading of the Segment is margin trading. The Segment paid guarantee deposits before transactions. It is evaluated on a daily basis based on the open positions of futures contract established by the company. If the margin calls are required, operating capital of the Company is sufficient to pay. Therefore, there is no financing risk, and the cash flow risk is extremely low.

The Segment engages in option trading. The premium has been paid (received) before transactions. If the counterparties exercise the call option, operating capital of the Company is sufficient to pay. Therefore, there is no financing risk and cash flow risk.

D. Types of derivatives, purpose and strategy for achieving the purpose:

The Company is concurrent operation of futures business. Futures and options are for the purpose of trading. The Segment mainly operates spread trading and combined strategy transactions. It uses the correlation between futures, options and spot prices to operates simultaneously, and establish a hedge position when the market changes greatly to increase the profit stability of the overall position. The futures and options for the purpose of hedging, the hedging strategy of the Segment is to achieve the purpose of avoiding most of the market price risk. They are highly negatively related to the fair value of the hedged items and the hedging instrument are regularly evaluated.

E. Derivatives in financial statements:

(A) Margin deposits for the futures contract

	December 31, 2025	December 31, 2024
Futures guarantee deposits receivable	$ 6,409,144	$ 3,358,908
Excess margin	$ 3,852,171	$ 2,539,376

(B) Net gain (loss) from derivatives - future

	Year ended December 31, 2025	Year ended December 31, 2024
Futures contract gain	$ 2,113,587	$ 2,352,951
Option trading gain	103,081	91,193
Futures contract loss	( 1,777,401)	( 1,921,875)
Option trading loss	( 87,325)	( 97,754)
Total	$ 351,942	$ 424,515

(2) Fair values and hierarchy information

A. Financial instruments measured at fair value

Except for those listed in the table below, the carrying amounts of the Segment’s financial instruments not measured at fair value (including cash and cash equivalents, accounts receivable, other receivables, operation guaranteed deposits, accounts payable and other payables) approximate their fair values. The fair value information of financial instruments measured at fair value is provided in Note 12(2)2.

B. Fair value hierarchy of the financial instruments

(A) Definitions for the hierarchy classifications of financial instruments measured at fair value

a. Level 1

Level 1, are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Segment can access at the measurement date. An active market has to satisfy all the following conditions: a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

b. Level 2

Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. For the years ended December 31, 2025 and 2024, there was no significant transfer of financial instruments between Level 1 and Level 2.

c. Level 3

Unobservable inputs for the assets or liability. The Segment has no unlisted stocks.

(B) For financial instruments held for trading purposes which are classified as non-derivative instruments, their fair values are based on their quoted prices in an active market. For those classified as derivative instruments, their fair values are based on their market prices if their quoted prices are available from an active market. If quoted market prices in an active market are not available, the Segment presumes the expected return or payment if contracts are terminated at balance sheet date.

~190~

~191~

Financial instruments measured at fair value	December 31, 2025
	Total	Level 1	Level 2	Level 3
Recurring fair value
Derivative instruments
Assets
Financial assets at fair value through profit or loss - current	$ 6,410,310	$ 6,410,310	$ -	$ -
Financial instruments measured at fair value	December 31, 2024
	Total	Level 1	Level 2	Level 3
Recurring fair value
Derivative instruments
Assets
Financial assets at fair value through profit or loss - current	$ 3,359,076	$ 3,359,076	$ -	$ -

(Blank below)

STATUS OF THE LIMITATIONS ON FINANCIAL RATIOS IMPOSED BY FUTURES TRADING ACT, AND THE RELATED IMPLEMENTATION

Article	Calculation formula	December 31, 2025		December 31, 2024		Standard	Enforcement
		Calculation	Ratio	Calculation	Ratio
17	Stockholders' equity	3,212,313	45.78	3,136,072	28.33	≥1	Met the requirement
	(Total liability – futures trader’s equity)	70,174		110,680
17	Current assets	8,239,347	117.41	5,301,806	47.90	≥1	Met the requirement
	Current liabilities	70,174		110,680
22	Stockholders' equity	3,212,313	803.08%	3,136,072	784.02%	≥60%	Met the requirement
	Minimum paid-in capital	400,000		400,000		≥40%
22	Adjusted net capital	1,871,933	73.21%	2,661,069	324.71%	≥20%	Met the requirement
	Total amount of customer margins required for the open positions of futures traders	2,556,974		819,533		≥15%

PROSPECTIVE RISK FOR FUTURES TRADING

The main risk faced by the Company while engaging in self-operating businesses is market price risk- that is risk of changes in market prices of futures or options contracts as a result of fluctuation in underlying investment index. Losses may occur if the market index price and underlying investment move adversely. However, the Company has set up stop-loss point to control such risk for reasons of risk management.

OTHER

None.

~193~

16. OTHER DISCLOSURE ITEMS

1) Information about significant transactions

A. Lending to others: None.
B. Endorsements and guarantees for others: None.
C. Acquisitions of real estate exceeding $300 million or 20 percent of contributed capital: None.
D. Disposals of real estate exceeding $300 million or 20 percent of contributed capital: None.
E. Purchases or sales transactions discount on brokers’ charges with related parties in excess of $5 million: None.
F. Receivables from related parties exceeding $100 million or 20 percent of contributed capital: None.
G. Significant transactions between parent company and subsidiaries are provided in Note 7.

2) Related information of investee companies

None.

3) Disclosure of investment in Mainland China

None.

(Blank below)

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF CASH AND CASH EQUIVALENTS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount
Current deposits
Deposits denominated in NTD		$ 121,436
Deposits denominated in foreign currencies	USD 219 thousands, exchange rate: 31.430	7,163
	HKD 12 thousands, exchange rate:4.038
	CNY 50 thousands, exchange rate:4.496
	JPY 0 thousands, exchange rate:0.201
Time deposits
Deposits denominated in NTD	Maturity Date: January 11, 2026 to December 26, 2026	1,696,600
	Interest rates: 0.715%~1.70%
Total		$ 1,825,199

~194~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of financial instrument	Description	Shares or certificates	Cost	Fair value		Changes in the fair value attributable to changes in credit risk	Remark
				Unit price (dollars)	Total amount
Financial assets mandatorily measured at fair value through profit or loss:
Securities invested by securities broker			$ 27		$ -	$ -
Futures margin-own funds			6,409,144		6,409,144	-
Buy options
TXV Put	Long	251	123		110	-	Trade
TX1 Put	Long	21	27		20	-	Hedge
TXO Call	Long	5	93		253	-	Trade
TXV Put	Long	270	125		119	-	Trade
TX1 Put	Long	300	770		664	-	Trade
			1,138		1,166	-
Total			$ 6,410,309		$ 6,410,310	$ -

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF FUTURES GUARANTEE DEPOSITS RECEIVABLE
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

| Clearing house
(Other futures commission merchants) | Description | Currency | Foreign amount | Exchange rate
(dollars) | New Taiwan dollar | Remark |
| --- | --- | --- | --- | --- | --- | --- |
| President Futures Corp. | Futures guarantee deposits receivable | TWD | | | $ 6,299,373 | |
| | | USD | $ 1,005 | 31.430 | 31,601 | |
| | | JPY | 22,333 | 0.201 | 4,485 | |
| | | HKD | ( 111 ) | 4.038 ( | 447 ) | |
| | | GBP | 9 | 42.330 | 400 | |
| | | EUR | ( 62 ) | 36.900 ( | 2,271 ) | |
| | | RMB | 2,458 | 4.496 | 11,058 | |
| | | | | | 6,344,199 | |
| Capital Futures Corp. | Futures guarantee deposits receivable | TWD | | | 5,000 | |
| Yuanta Futures Co., Ltd. | Futures guarantee deposits receivable | TWD | | | 20,258 | |
| | | USD | 654 | 31.430 | 20,567 | |
| | | THB | 1,852 | 1.002 | 1,856 | |
| | | HKD | 1,165 | 4.038 | 4,705 | |
| | | | | | 47,386 | |
| KGI FUTURES CO., LTD. | Futures guarantee deposits receivable | TWD | | | 12,559 | |
| | | | | | 12,559 | |
| | | | | | $ 6,409,144 | |

~196~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF OTHER RECEIVABLES
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount
Interest receivable	Time deposit interest	$ 3,816
Other receivable	Monetary incentives	21
Total		$ 3,837

~197~

~198~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT

STATEMENT OF CHANGES IN PROPERTY, PLANT AND EQUIPMENT

FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance	Collateral
Computer equipment	$ 9,552	$ 2,323	( $ 3,219)	$ 8,656	No
Leasehold improvements	398	-	-	398	No
Office equipment	-	15	-	15	No
Total	$ 9,950	2,338	( $ 3,219)	$ 9,069

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF CHANGES IN ACCUMULATED DEPRECIATION OF PROPERTY, PLANT AND EQUIPMENT
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance	Remark
Computer equipment	($ 4,335)	($ 2,404)	$ 3,219	($ 3,520)	Note 1
Leasehold improvements	( 13)	( 80)	-	( 93)	Note 2
Total	($ 4,348)	($ 2,484)	$ 3,219	($ 3,613)

Note 1: The useful lives of computer equipment are 3 to 5 years.
Note 2: The useful lives of leasehold improvements are 5 years.

~199~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF CHANGES IN INTANGIBLE ASSETS
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Beginning balance	Increased	Decreased	Ending balance	Remark
Computer software	$ 5,529	$ 1,050	( $ 3,071)	$ 3,508	Note

Note: The useful lives of computer software are 4 years.

~200~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF OTHER NON-CURRENT ASSETS
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Operation guaranteed deposits		$ 10,000
Refundable deposits
President Futures Corp. - Clearing and settlement funds		3,000
Futures association		360
Subtotal		3,360
Total		$ 13,360

~201~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF ACCOUNTS PAYABLE
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Name of client	Description	Amount	Remark
Non-related parties:
National Taxation Bureau	Futures exchange tax	$ 335

~202~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF OTHER PAYABLES
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Service charge payable		$ 2,957
Clearance fee payable		1,540
Salaries payable		2,366
Bonuses payable		62,142
Others		834
Total		$ 69,839

Note: The items which amount exceed 5% of the total account amount shall be individually presented, while the others that do not meet aforementioned threshold can be collectively presented.

~203~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF NON-CURRENT LIABILITIES
DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount
Inter-department account	Futures margin – hedged	( $ 10,604,219 )
	Futures margin – non-hedged	15,581,947
	Others	1,455
Total		$ 4,979,183

~204~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF NET GAIN FROM DERIVATIVES
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount
Gain from derivatives
Futures contract gain - non-hedged	Realised	$ 2,104,387
Futures contract gain - non-hedged	Unrealised	9,200
Subtotal		2,113,587
Option trading gain - non-hedged	Realised	103,081
Option trading gain - non-hedged	Unrealised	-
Subtotal		103,081
Total		2,216,668
Loss from derivatives
Futures contract loss - non-hedged	Realised	( 1,785,678 )
Futures contract loss - non-hedged	Unrealised	8,277
Subtotal		( 1,777,401 )
Option trading loss - non-hedged	Realised	( 87,313 )
Option trading loss - non-hedged	Unrealised	( 12 )
Subtotal		( 87,325 )
Total		( 1,864,726 )
Total		$ 351,942

~205~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT

STATEMENT OF EMPLOYEE BENEFITS, DEPRECIATION, AMORTIZATION, AND OTHER OPERATING EXPENSES

FOR THE YEAR ENDED DECEMBER 31, 2025

(Expressed in thousands of New Taiwan dollars)

Item	Year ended December 31, 2025	Year ended December 31, 2024
Employee benefits expense
Salaries	$ 101,443	$ 145,383
Labor and health insurance	4,811	3,609
Pension	1,485	1,443
Other employee benefits	1,979	1,928
Depreciation expense	2,484	2,148
Amortization expense	3,071	3,552
Other operating expenses	147,806	131,291
	$ 263,079	$ 289,354

Note :

For the years ended December 31, 2025 and 2024, the Segment had 22 employees in both years, in which directors not concurrently serving as employees were both 0.
The annual parent company only financial statements shall additionally disclose the information below:

(1) The average employee benefit expense was $4,987 for the year ended December 31, 2025 (“total employee benefit expense for the year minus total director’s remuneration”/ “number of employees for the year minus number of directors who are not concurrently employees”).

The average employee benefit expense was $6,926 for the year ended December 31, 2024 (“total employee benefit expense in the previous year minus total director’s remuneration” / “number of employees in the previous year minus number of directors who are not concurrently employees”).

(2) Average salary of this year is $4,611 (a total sum of salaries in this year / (“number of employees in this year minus number of non-employee directors in this year”)).

Average salary of the previous year is $6,608 (a total sum of salaries in the previous year / (“number of employees in the previous year minus number of non-employee directors in the previous year”)).

(3) Change of average salary is a decrease of 30.22% (“average salary in this year minus average salary in the previous year” / average salary in the previous year).

For the years ended December 31, 2025 and 2024, supervisors’ remuneration were both $0. Because of the establishment of Audit Committee, there’s no supervisors’ remuneration.
The remuneration policy of the Company (Including directors, supervisors, managers and employees):

(1) Directors: Pursuant to Article 19 of the Company’s Articles of Incorporation, the remuneration to director is determined by the board of directors by taking into the degree of participation in the company’s operations, contribution and industry standards.

Independent directors receive fixed pay monthly and do not participate in the distribution of company directors’ remuneration.

(2) Managers and employees: Pursuant to Article 37 of Work Rules, the Company’s remuneration policy is to fairly compensate employees’ contribution to the company, to offer competitive salary among peers, to meet relevant laws and regulations related to salary and to properly control salary cost.

~206~

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT
STATEMENT OF OTHER GAINS AND LOSSES
FOR THE YEAR ENDED DECEMBER 31, 2025
(Expressed in thousands of New Taiwan dollars)

Item	Description	Amount	Remark
Financial income		$ 27,668
Net currency exchange loss		( 9,263 )
Monetary incentives from TAIFEX		10,285
Others		1,259
Total		$ 29,949

~207~

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PSC — Audit Report / Information 2026

52209_rns_2026-04-30_bdac66c9-6566-408e-a4b9-5b6ac1591bd6.pdf

Opinion

Basis for opinion

Key audit matters

Fair value measurement of unlisted stocks without active market

Description

Auditors’ responsibilities for the audit of the parent company only financial statements

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF COMPREHENSIVE INCOME

YEARS ENDED DECEMBER 31, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

PRESIDENT SECURITIES CORPORATION

PARENT COMPANY ONLY STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2025 AND 2024

4. SUMMARY OF MATERIAL ACCOUNTING POLICIES

1) Compliance statement

2) Basis of preparation

3) Classification of current and non-current items

14) Property and equipment

6. DETAILS OF SIGNIFICANT ACCOUNTS

13) Property and equipment

26) Long-term loans

27) Other liabilities - non-current

28) Pension plan

B. Defined contribution plans:

29) Equity/Events after the balance sheet date

A. Common stock

B. Capital reserve

C. Legal reserve

45) Employee benefits expense

46) Depreciation and amortization

47) Other operating expenses

48) Other gains and losses

49) Income tax

7. RELATED PARTY TRANSACTIONS

1) Names and relationships of related parties

8. PLEDGED ASSETS

9. SIGNIFICANT COMMITMENTS

10. SIGNIFICANT LOSS FROM NATURAL DISASTER

11. SIGNIFICANT SUBSEQUENT EVENT

12. OTHER

C. Expected credit loss assessment

PRESIDENT SECURITIES CORPORATION

STATEMENT OF FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS - CURRENT

PRESIDENT SECURITIES CORPORATION

STATEMENT OF OTHER CURRENT ASSETS

PRESIDENT SECURITIES CORPORATION

STATEMENT OF CHANGES IN RIGHT-OF-USE ASSETS

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

6. DETAILS OF SIGNIFICANT ACCOUNTS

7. Related Party Transactions

16. OTHER DISCLOSURE ITEMS

PRESIDENT SECURITIES CORPORATION - FUTURES SEGMENT

STATEMENT OF CHANGES IN PROPERTY, PLANT AND EQUIPMENT

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