Taiwan Mobile Co., Ltd. and Subsidiaries

Consolidated Financial Statements for the
Three Months Ended March 31, 2026 and 2025 and
Independent Auditors’ Review Report

INDEPENDENT AUDITORS' REVIEW REPORT

The Board of Directors and Stockholders
Taiwan Mobile Co., Ltd.

Introduction

We have reviewed the accompanying consolidated balance sheets of Taiwan Mobile Co., Ltd. and its subsidiaries (collectively, the "Group") as of March 31, 2026 and 2025, and the related consolidated statements of comprehensive income, the consolidated statements of changes in equity and cash flows for the three months then ended, and the related notes to the consolidated financial statements, including material accounting policy information (collectively referred to as the "consolidated financial statements"). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with the Standards on Review Engagements of the Republic of China 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of March 31, 2026 and 2025, and of its consolidated financial performance and its consolidated cash flows for the three months then ended in accordance with the "Regulations Governing the Preparation of Financial Reports by Securities Issuers" and International Accounting Standard 34 "Interim Financial Reporting" endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China.

The engagement partners on the reviews resulting in this independent auditors' review report are Te-Chen Cheng and Wen-Ling Liu.

Deloitte & Touche
Taipei, Taiwan
Republic of China

May 13, 2026

Notice to Readers

The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China (ROC) and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the ROC.

For the convenience of readers, the independent auditors' review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the ROC. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language auditors' review report and consolidated financial statements shall prevail.

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of New Taiwan Dollars)

ASSETS	March 31, 2026		December 31, 2025		March 31, 2025		LIABILITIES AND EQUITY	March 31, 2026		December 31, 2025		March 31, 2025
	Amount	%	Amount	%	Amount	%		Amount	%	Amount	%	Amount	%
CURRENT ASSETS							CURRENT LIABILITIES
Cash and cash equivalents (Notes 6 and 29)	$ 10,062,152	4	$ 8,565,239	4	$ 11,561,004	5	Short-term borrowings (Note 17)	$ 11,400,000	5	$ 11,200,000	5	$ 12,655,000	5
Financial assets at fair value through profit or loss	5,772	-	27,876	-	27,449	-	Short-term notes and bills payable (Note 17)	15,588,885	7	6,891,162	3	1,297,067	1
Financial assets at fair value through other comprehensive income (Note 7)	289,214	-	283,758	-	279,463	-	Contract liabilities (Note 22)	2,544,943	1	2,163,953	1	2,244,786	1
Financial assets at amortized cost	94,884	-	92,666	-	163,575	-	Notes and accounts payable	13,012,984	5	14,645,624	6	12,601,681	5
Contract assets (Note 22)	7,728,198	3	8,134,704	3	6,983,307	3	Notes and accounts payable due to related parties (Note 29)	267,595	-	263,157	-	260,291	-
Notes and accounts receivable, net (Note 8)	9,517,081	4	9,454,914	4	9,086,307	4	Other payables (Note 29)	9,011,461	4	11,625,298	5	9,403,155	4
Notes and accounts receivable due from related parties (Note 29)	428,264	-	412,959	-	421,352	-	Current tax liabilities	3,334,304	1	2,252,874	1	3,381,916	1
Other receivables (Note 29)	3,684,184	2	3,891,942	2	3,324,374	1	Provisions (Note 19)	81,795	-	96,105	-	113,583	-
Inventories (Note 9)	6,913,204	3	8,633,656	4	7,392,233	3	Lease liabilities (Notes 13, 26 and 29)	4,379,552	2	4,184,922	2	4,040,781	2
Prepayments (Note 29)	1,156,704	1	1,023,515	-	1,197,991	1	Advance receipts	222,744	-	156,291	-	175,806	-
Other financial assets (Notes 29 and 30)	1,754,114	1	1,993,784	1	2,059,378	1	Long-term liabilities, current portion (Notes 17 and 18)	11,611,181	5	3,611,222	2	11,826,273	5
Other current assets	180,828	-	203,172	-	179,548	-	Other current liabilities (Note 29)	5,004,591	2	5,075,375	2	4,590,029	2
Total current assets	41,814,599	18	42,718,185	18	42,675,981	18	Total current liabilities	76,460,035	32	62,165,983	27	62,590,368	26
NON-CURRENT ASSETS							NON-CURRENT LIABILITIES
Financial assets at fair value through profit or loss	1,729,473	1	1,690,594	1	2,073,116	1	Financial liabilities at fair value through profit or loss (Note 18)	56,658	-	59,658	-	62,558	-
Financial assets at fair value through other comprehensive income (Note 7)	4,176,626	2	3,905,763	2	3,954,216	2	Contract liabilities (Note 22)	347,323	-	356,807	-	397,414	-
Financial assets at amortized cost	-	-	-	-	96,623	-	Bonds payable (Note 18)	28,970,690	12	38,924,358	17	35,092,781	14
Contract assets (Note 22)	7,723,194	3	7,808,914	3	7,549,779	3	Long-term borrowings (Note 17)	12,970,613	5	22,491,269	9	26,134,540	11
Investments accounted for using equity method (Notes 10 and 29)	10,103,186	4	6,876,788	3	6,707,814	3	Provisions (Note 19)	1,951,376	1	1,926,221	1	1,628,124	1
Property, plant and equipment (Note 12)	49,488,356	21	50,606,383	22	50,725,836	21	Deferred tax liabilities	1,539,941	1	1,491,182	1	1,423,086	1
Right-of-use assets (Notes 13 and 29)	15,045,109	6	13,101,119	6	11,685,599	5	Less: liabilities (Notes 13, 26 and 29)	10,898,477	5	9,101,807	4	7,698,039	3
Investment properties (Note 14)	2,159,606	1	2,141,929	1	2,117,003	1	Net defined benefit liabilities	61,366	-	62,899	-	70,288	-
Concessions (Notes 15 and 30)	59,151,222	25	60,599,971	26	64,946,219	27	Guarantee deposits	1,371,117	1	1,375,678	-	1,335,339	1
Goodwill (Note 15)	33,228,022	14	33,228,022	14	33,228,022	14	Other non-current liabilities	1,944,197	1	2,154,457	1	2,794,237	1
Other intangible assets (Note 15)	5,604,149	2	5,694,255	2	5,739,087	3	Total non-current liabilities	60,111,758	26	77,944,336	33	76,636,406	32
Deferred tax assets	1,022,976	1	1,035,517	-	1,090,743	-
Incremental costs of obtaining a contract (Note 22)	2,377,776	1	2,434,927	1	2,618,420	1	EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT (Note 21)
Net defined benefit assets	221,089	-	215,826	-	184,884	-	Common stock	37,232,618	15	37,232,618	16	37,232,618	16
Other financial assets (Notes 29 and 30)	379,093	-	377,999	-	382,617	-	Capital surplus	29,439,518	12	29,032,105	12	30,190,801	13
Other non-current assets (Notes 16 and 29)	2,194,232	1	2,223,375	1	2,125,284	1	Retained earnings
Total non-current assets	194,604,109	82	191,941,382	82	195,225,262	82	Legal reserve	36,113,578	15	36,113,578	15	34,716,971	14
							Special reserve	135,582	-	135,582	-	-	-
							Unappropriated earnings	18,487,822	8	14,309,874	6	17,620,439	7
							Other equity interests	(895,073)	(	(966,556)	-	(391,883)	-
							Treasury stock	(29,455,719)	(12)	(29,717,344)	(12)	(29,717,344)	(12)
							Total equity attributable to owners of the Corporation	91,058,326	38	86,139,857	37	89,651,602	38
							NON-CONTROLLING INTERESTS	8,788,589	4	8,409,391	3	9,022,867	4
							Total equity	99,846,915	42	94,549,248	40	98,674,469	42
TOTAL	$ 236,418,708	100	$ 234,659,567	100	$ 237,901,243	100	TOTAL	$ 236,418,708	100	$ 234,659,567	100	$ 237,901,243	100

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

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Thousands of New Taiwan Dollars, Except Earnings Per Share)

	For the Three Months Ended March 31
	2026		2025
	Amount	%	Amount	%
OPERATING REVENUES (Notes 22, 29 and 35)	$ 49,778,303	100	$ 48,167,353	100
OPERATING COSTS (Notes 9, 29 and 32)	39,045,908	78	38,282,235	79
GROSS PROFIT FROM OPERATIONS	10,732,395	22	9,885,118	21
OPERATING EXPENSES (Notes 29 and 32)
Marketing	3,174,101	7	3,157,487	7
Administrative	1,657,642	3	1,633,841	4
Research and development	221,612	-	189,019	-
Expected credit loss	59,815	-	89,375	-
Total operating expenses	5,113,170	10	5,069,722	11
OTHER INCOME AND EXPENSES, NET	313,521	-	334,162	1
OPERATING INCOME (Note 35)	5,932,746	12	5,149,558	11
NON-OPERATING INCOME AND EXPENSES
Interest income	38,492	-	46,544	-
Other income	12,011	-	8,342	-
Other gains and losses, net (Note 23)	( 4,524)	-	94,423	-
Finance costs (Notes 23 and 35)	( 389,356)	( 1)	( 384,141)	( 1)
Share of gain (loss) of associates accounted for using equity method	79,541	-	( 3,917)	-
Total non-operating income and expenses	( 263,836)	( 1)	( 238,749)	( 1)
PROFIT BEFORE TAX	5,668,910	11	4,910,809	10
INCOME TAX EXPENSE (Note 24)	1,142,669	2	764,849	1
NET PROFIT	4,526,241	9	4,145,960	9
OTHER COMPREHENSIVE INCOME (LOSS) (Notes 21 and 24)
Items that will not be reclassified subsequently to profit or loss:
Unrealized gain (loss) on investments in equity instruments at fair value through other comprehensive income	36,291	-	( 167,446)	( 1)
Share of other comprehensive income (loss) of associates accounted for using equity method	7,592	-	( 102,646)	-
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation	52,688	-	9,649	-
Share of other comprehensive income (loss) of associates accounted for using equity method	5,817	-	8,214	-
Other comprehensive income (loss) (after tax)	102,388	-	( 252,229)	( 1)
TOTAL COMPREHENSIVE INCOME	$ 4,628,629	9	$ 3,893,731	8
NET PROFIT ATTRIBUTABLE TO:
Owners of the parent	$ 4,146,321	9	$ 3,655,199	8
Non-controlling interests	379,920	-	490,761	1
	$ 4,526,241	9	$ 4,145,960	9
TOTAL COMPREHENSIVE INCOME
ATTRIBUTABLE TO:
Owners of the parent	$ 4,249,431	9	$ 3,398,898	7
Non-controlling interests	379,198	-	494,833	1
	$ 4,628,629	9	$ 3,893,731	8
EARNINGS PER SHARE (Note 25)
Basic earnings per share	$ 1.37		$ 1.21
Diluted earnings per share	$ 1.34		$ 1.20

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

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(In Thousands of New Taiwan Dollars)

	Equity Attributable to Owners of the Parent
	Retained Earnings					Other Equity Interests
	Common Stock	Capital Surplus	Legal Reserve	Special Reserve	Unappropriated Earnings	Exchange Differences on Translation	Unrealized Gain (Loss) on Financial Assets at Fair Value Through Other Comprehensive Income	Treasury Stock	Total	Non-controlling Interests	Total Equity
BALANCE, JANUARY 1, 2025	$ 37,232,618	$ 29,337,376	$ 34,716,971	$ -	$ 13,966,321	$(18,142)	$(117,440)	$(29,717,344)	$ 85,400,360	$ 8,528,034	$ 93,928,394
Profit for the three months ended March 31, 2025	-	-	-	-	3,655,199	-	-	-	3,655,199	490,761	4,145,960
Other comprehensive income (loss) for the three months ended March 31, 2025	-	-	-	-	-	12,476	(268,777)	-	(256,301)	4,072	(252,229)
Total comprehensive income (loss) for the three months ended March 31, 2025	-	-	-	-	3,655,199	12,476	(268,777)	-	3,398,898	494,833	3,893,731
Equity component of convertible bonds issued by the company	-	851,347	-	-	-	-	-	-	851,347	-	851,347
Changes in equity of associates accounted for using equity method	-	15,527	-	-	(1,081)	-	-	-	14,446	-	14,446
Disposal of investments accounted for using equity method	-	(13,449)	-	-	-	-	-	-	(13,449)	-	(13,449)
BALANCE, MARCH 31, 2025	$ 37,232,618	$ 30,190,801	$ 34,716,971	$ -	$ 17,620,439	$(5,666)	$(386,217)	$(29,717,344)	$ 89,651,602	$ 9,022,867	$ 98,674,469
BALANCE, JANUARY 1, 2026	$ 37,232,618	$ 29,032,105	$ 36,113,578	$ 135,582	$ 14,309,874	$(49,992)	$(916,564)	$(29,717,344)	$ 86,139,857	$ 8,409,391	$ 94,549,248
Profit for the three months ended March 31, 2026	-	-	-	-	4,146,321	-	-	-	4,146,321	379,920	4,526,241
Other comprehensive income (loss) for the three months ended March 31, 2026	-	-	-	-	-	54,435	48,675	-	103,110	(722)	102,388
Total comprehensive income (loss) for the three months ended March 31, 2026	-	-	-	-	4,146,321	54,435	48,675	-	4,249,431	379,198	4,628,629
Disposal of TWM’s shares by subsidiary recognized as treasury stock transactions	-	408,710	-	-	-	-	-	261,625	670,335	-	670,335
Disposal of investments in equity instruments designated at fair value through other comprehensive income	-	-	-	-	31,627	-	(31,627)	-	-	-	-
Changes in equity of associates accounted for using equity method	-	(1,297)	-	-	-	-	-	-	(1,297)	-	(1,297)
BALANCE, MARCH 31, 2026	$ 37,232,618	$ 29,439,518	$ 36,113,578	$ 135,582	$ 18,487,822	$ 4,443	$(899,516)	$(29,455,719)	$ 91,058,326	$ 8,788,589	$ 99,846,915

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

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

	For the Three Months Ended March 31
	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax	$ 5,668,910	$ 4,910,809
Adjustments for:
Depreciation expense	3,759,180	3,756,778
Amortization expense	1,661,963	1,648,020
Amortization of incremental costs of obtaining a contract	426,350	466,737
Loss on disposal and retirement of property, plant and equipment, net	19,127	17,283
Gain on disposal of property, plant and equipment held for sale	-	(1,689)
Expected credit loss	59,815	89,375
Other income and expenses	(259,936)	(284,825)
Finance costs	389,356	384,141
Interest income	(38,492)	(46,544)
Dividend income	(9,484)	(7,539)
Valuation gain on financial assets at fair value through profit or loss	(20,877)	(91,543)
Valuation gain on financial liabilities at fair value through profit or loss	(3,000)	(9,300)
Share of loss (gain) of associates accounted for using equity method	(79,541)	3,917
Gain on disposal of investments accounted for using equity method	-	(17,014)
Others	(2,382)	(5,475)
Changes in operating assets and liabilities
Contract assets	492,307	(519,261)
Notes and accounts receivable	(120,714)	(172,836)
Notes and accounts receivable due from related parties	(15,305)	64,454
Other receivables	335,103	537,262
Inventories	1,720,452	1,441,374
Prepayments	(128,363)	(201,800)
Other current assets	15,978	13,723
Other financial assets	117,339	(46,404)
Incremental costs of obtaining a contract	(369,199)	(468,252)
Contract liabilities	371,506	(161,253)
Notes and accounts payable	(1,632,640)	(656,935)
Notes and accounts payable due to related parties	4,438	21,549
Other payables	(1,604,909)	(1,591,860)
Provisions	(6,869)	(43,666)
Advance receipts	66,398	34,109
Other current liabilities	(70,784)	28,492
Net defined benefit plans	(6,796)	(8,435)
Cash inflows generated from operating activities	10,738,931	9,083,392
Interest received	3,446	13,788
Interest paid	(495)	(569)
Income taxes paid	(5,705)	(29,270)
Net cash generated from operating activities	10,736,177	9,067,341

(Continued)

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

	For the Three Months Ended March 31
	2026	2025
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property, plant and equipment	$(2,440,956)	$(3,211,023)
Acquisition of right-of-use assets	(12,772)	(20,443)
Acquisition of intangible assets	(153,030)	(145,607)
Increase in prepayments for equipment	(43,369)	(153,464)
Proceeds from disposal of property, plant and equipment	1,589	41,487
Proceeds from disposal of property, plant and equipment held for sale	-	10,730
Increase in advance receipts from asset disposals	55	-
Acquisition of financial assets at fair value through profit or loss	(3,267)	(15,847)
Acquisition of financial assets at fair value through other comprehensive income	(289,525)	-
Disposal of financial assets at fair value through other comprehensive income	61,628	-
Proceeds from capital reduction of financial assets at fair value through profit or loss	-	3,169
Acquisition of investments accounted for using equity method	(3,084,238)	(75,150)
Increase in prepayments for investment	-	(17,347)
Disposal of investments accounted for using equity method	-	25,573
Other investing activities	166,709	30,686
Increase in refundable deposits	(89,032)	(194,512)
Decrease in refundable deposits	104,464	100,378
Increase in other financial assets	(14,967)	(19,645)
Decrease in other financial assets	136,048	149,995
Interest received	21,612	26,570
Other dividends received	9,445	7,539
Net cash used in investing activities	(5,629,606)	(3,456,911)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (decrease) in short-term borrowings	200,000	(6,635,000)
Decrease in short-term notes and bills payable	(2,788,750)	(3,786,079)
Proceeds from issuance of bonds	-	10,013,070
Repayment of bonds	-	(5,000,000)
Proceeds from long-term borrowings	-	1,496,824
Repayment of long-term borrowings	(28,155)	(534,947)
Repayment of the principal portion of lease liabilities	(1,165,376)	(1,120,649)
Increase in guarantee deposits received	29,834	23,029
Decrease in guarantee deposits received	(33,697)	(40,341)
Proceeds from disposal of treasury stock	531,297	-
		(Continued)

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands of New Taiwan Dollars)

	For the Three Months Ended March 31
	2026	2025
Interest paid	$(356,976)	$(411,068)
Net cash used in financing activities	(3,611,823)	(5,995,161)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	2,165	51
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,496,913	(384,680)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	8,565,239	11,945,684
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	$10,062,152	$11,561,004

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

(Concluded)

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 (In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

1. ORGANIZATION AND OPERATIONS

Taiwan Mobile Co., Ltd. (TWM) was incorporated in Taiwan, the Republic of China (ROC) on February 25, 1997. TWM’s stock was listed on the ROC Over-the-Counter Securities Exchange (currently known as The Taipei Exchange, TPEx) on September 19, 2000. On August 26, 2002, TWM’s stock was shifted to be listed on the Taiwan Stock Exchange. TWM is mainly engaged in the rendering of mobile telecommunications, the sale of mobile phones and accessories, games and value-added services.

TWM received a second-generation mobile telecommunications concession operation license issued by the Directorate General of Telecommunications (DGT) of the ROC. The license allows TWM to provide services for 15 years from 1997 onwards. The 2G concession license had been renewed by the National Communications Commission (NCC) and expired on June 30, 2017. TWM received a third-generation concession license issued by the DGT in March 2005, and the 3G concession license expired on December 31, 2018. TWM participated in the mobile spectrum auctions held by NCC for the need of long-term business development and from April 2014 to June 2018 acquired the concession licenses for the fourth-generation mobile broadband spectrum in the 700MHz, 1800MHz and 2100MHz frequency bands separately, and the aforementioned licenses are valid until December 2030 and December 2033, respectively. In June 2020, TWM acquired the concession licenses for the fifth-generation mobile broadband spectrum in the 3500MHz and 28000MHz frequency bands, and the aforementioned licenses are valid until December 2040.

To expand the business scale and boost the operating performance and competitiveness, TWM merged with Taiwan Star Telecom Corporation Limited (TST). The merger was completed on December 1, 2023, and TST was the dissolved company. Since that date, TWM has acquired the licensed spectrum in the 900MHz, 2100MHz, 2600MHz, and 3500MHz frequency bands.

The accompanying consolidated financial statements comprise of TWM and its subsidiaries (collectively, the "Group").

2. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS

The Board of Directors approved the consolidated financial statements on May 13, 2026.

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

a. Initial application of new accounting policies

Liability classification of funds raised through the revolving commercial paper issuances

The Group has entered into a multi-year revolving commercial paper issuance agreement with a financial institution. Under this agreement, commercial papers are issued with maturities and are reissued on a revolving basis upon maturity, with interest payments made each cycle but no principal repayment required at maturity. As the Group does not have the right at the end of the reporting period to defer settlement of these liabilities for at least twelve months after the reporting date, and as given that the substance of the transaction is the repayment of maturing commercial papers through the issuance of new ones, such liabilities shall be classified as current liabilities in accordance with the Q&A issued by the Accounting Research and Development Foundation (ARDF). In accordance with the Q&A issued by the Financial Supervisory Commission (FSC), the Group applies these requirements to commercial papers issued on a revolving basis on or after January 1, 2026. See Note 17c. for the details.

b. Application of the International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), and SIC Interpretations (SIC) (collectively, the “IFRS Accounting Standards”) endorsed and issued into effect by the FSC

Application of the IFRS Accounting Standards endorsed and issued into effect by the FSC did not have any material impact on the Group’s accounting policies.

c. The IFRS Accounting Standards in issue by International Accounting Standard Board (IASB) but not yet endorsed and issued into effect by the FSC

New, Amended and Revised Standards and Interpretations	Effective Date Announced by IASB (Note 1)
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 IASB
IFRS 18 “Presentation and Disclosure in Financial Statements”	January 1, 2027 (Note 2)
IFRS 19 “Subsidiaries without Public Accountability: Disclosures”	January 1, 2027

Note 1: Unless stated otherwise, the above IFRS Accounting Standards are effective for annual reporting periods beginning on or after their respective effective dates.

Note 2: On September 25, 2025, the FSC announced that IFRS 18 will take effect starting from January 1, 2028. If early adoption is needed, domestic entities could elect to apply IFRS 18 for an earlier period after the endorsement of IFRS 18 by the FSC.

IFRS 18 “Presentation and Disclosure in Financial Statements” and consequential amendments

IFRS 18 will supersede IAS 1” Presentation of Financial Statements”. The main changes comprise:

To classify items of income and expenses presented in the statement of profit or loss into the operating, investing, financing, income taxes and discontinued operations categories, the Group shall assess whether it has specified main business activities of investing in particular types of assets and providing financing to customers.
The statement of profit or loss shall present totals and subtotals for operating profit or loss, profit or loss before financing and income taxes and profit or loss.
Provides guidance to enhance the requirements of aggregation and disaggregation: The Group shall identify the assets, liabilities, equity, income, expenses and cash flows that arise from individual transactions or other events and shall classify and aggregate them into groups based on shared characteristics, so as to result in the presentation in the primary financial statements of line items that have at least one similar characteristic. The Group shall disaggregate items with dissimilar characteristics in the primary financial statements and in the notes. The Group labels items as ‘other’ only if it cannot find a more informative label.
10 -

Disclosures on Management-defined Performance Measures (MPMs): When in public communications outside financial statements and communicating to users of financial statements management's view of an aspect of the financial performance of the Group as a whole, the Group shall disclose related information about its MPMs in a single note to the financial statements, including the description of such measures, calculations, reconciliations to the subtotal or total specified by IFRS Accounting Standards and the income tax and non-controlling interests effects of related reconciliation items.

In addition, the following consequential amendments have been made to IAS 7 “Statement of Cash Flows”:

The Group shall use operating profit or loss as the starting point when presenting cash flows from operating activities under the indirect method.
Interest and dividends received by the Group shall be classified as investing activities, while interest and dividends paid shall be classified as financing activities. However, if, after assessment, the Group has a specific main operating activity, it shall determine how to classify dividends received, interest received and interest paid in the statement of cash flows by referring to how it classifies dividend income, interest income and interest expense in the statement of profit or loss. The total of each of these cash flows shall be classified in a single category in the statement of cash flows.

Except for the above impact, as of the date the consolidated financial statements were authorized for issue, the Group is continuously assessing impacts of the above amended standards and interpretations on the Group's financial position and financial performance and will disclose the relevant impact when the assessment is completed.

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

Except for the following description, the material accounting policies adopted for the consolidated financial statements are the same as those adopted for the consolidated financial statements for the year ended December 31, 2025.

a. Statement of Compliance

The consolidated financial statements have been prepared in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and IAS 34 Interim Financial Reporting endorsed and issued into effect by the FSC. The consolidated financial statements do not include all the information which should be disclosed in the annual consolidated financial statements in accordance with the IFRSs Accounting Standards endorsed and issued into effect by the FSC.

b. Basis of Consolidation

1) The basis of preparation of the consolidated financial statements is the same as that of the consolidated financial statements for the year ended December 31, 2025.
2) The subsidiaries included in the consolidated financial statements were as follows:

Investor	Subsidiary	Main Business and Products	Percentage of Ownership			Note
			March 31, 2026	December 31, 2025	March 31, 2025
TWM	Taiwan Cellular Co., Ltd. (TCC)	Investment	100.00%	100.00%	100.00%	Note 1
	Wealth Media Technology Co., Ltd. (WMT)	Investment	100.00%	100.00%	100.00%	-

Investor	Subsidiary	Main Business and Products	Percentage of Ownership			Note
			March 31, 2026	December 31, 2025	March 31, 2025
TWM	Taipei New Horizon Co., Ltd. (TNH)	Building and operating Songshan Cultural and Creative Park BOT project	49.90%	49.90%	49.90%	-
	Fu Sheng Digital Co., Ltd. (FSD)	Virtual asset platform and transaction service provider	100.00%	100.00%	100.00%	-
	TWM Power Co., Ltd. (TPC)	Information software services	100.00%	100.00%	100.00%	-
	FullSynergy New Retail Co., Ltd. (FSNR)	Branding agency and retail sales	100.00%	100.00%	100.00%	-
	Taiwan Mobile Film Co., Ltd. (TWMFM)	Film production	100.00%	100.00%	100.00%	-
TCC	Taiwan Fixed Network Co., Ltd. (TFN)	Fixed-line service provider	100.00%	100.00%	100.00%	Note 1
	Taiwan Teleservices & Technologies Co., Ltd. (TT&T)	Call center service and telephone marketing	100.00%	100.00%	100.00%	-
	Taiwan Digital Service Co., Ltd. (TDS)	Commissioned maintenance services	100.00%	100.00%	100.00%	-
	Taihsin Property Insurance Agent Co., Ltd. (TPIA)	Property insurance agent	100.00%	100.00%	100.00%	-
	Tai-Fu Cloud Technology Co., Ltd. (TFC)	Cloud and information services	100.00%	100.00%	100.00%	-
	TCCI Investment and Development Co., Ltd. (TID)	Investment	100.00%	100.00%	100.00%	Note 1
WMT	TFN Media Co., Ltd. (TFNM)	Broadcasting and TV program distribution and investment in cable TV service providers, etc	100.00%	100.00%	100.00%	-
	Global Forest Media Technology Co., Ltd. (GFMT)	Investment	100.00%	100.00%	100.00%	-
	Global Wealth Media Technology Co., Ltd. (GWMT)	Investment	100.00%	100.00%	100.00%	-
	Win TV Broadcasting Co., Ltd. (WTVB)	TV program provider	100.00%	100.00%	100.00%	-
	momo.com Inc. (momo)	Wholesale, retail, and retail sale no storefront	45.01%	45.01%	45.01%	-
TWMFM	Taiwan Stampede Franchise Film Co., Ltd. (SFF)	Film production	100.00%	100.00%	100.00%	-
TFNM	Yeong Jia Leh Cable TV Co., Ltd. (YJCTV)	Cable TV service provider	100.00%	100.00%	100.00%	-
	Mangrove Cable TV Co., Ltd. (MCTV)	Cable TV service provider	29.53%	29.53%	29.53%	Note 2
	Phoenix Cable TV Co., Ltd. (PCTV)	Cable TV service provider	100.00%	100.00%	100.00%	-
	Union Cable TV Co., Ltd. (UCTV)	Cable TV service provider	99.22%	99.22%	99.22%	-
	Globalview Cable TV Co., Ltd. (GCTV)	Cable TV service provider	92.38%	92.38%	92.38%	-

Investor	Subsidiary	Main Business and Products	Percentage of Ownership			Note
			March 31, 2026	December 31, 2025	March 31, 2025
GFMT	UCTV	Cable TV service provider	0.76%	0.76%	0.76%	-
GWMT	GCTV	Cable TV service provider	6.83%	6.83%	6.83%	-
momo	Asian Crown International Co., Ltd. (Asian Crown)	Investment	81.99%	81.99%	81.99%	Note 3
	Honest Development Co., Ltd. (Honest Development)	Investment	100.00%	100.00%	100.00%	-
	Fuli Insurance Agent Co., Ltd. (FI)	Comprehensive insurance agent	100.00%	100.00%	100.00%	-
	Fu Sheng Travel Service Co., Ltd. (FST)	Travel agent	100.00%	100.00%	100.00%	-
	Fu Sheng Logistics Co., Ltd. (FSL)	Logistics and transport	100.00%	100.00%	100.00%	-
	MFS Co., Ltd. (MFS)	Wholesaling	100.00%	100.00%	100.00%	-
	Prosperous Living Co., Ltd. (Prosperous Living)	Wholesale and retail sales	73.62%	73.62%	73.62%	-
	Bebe Poshe International Co., Ltd. (Bebe Poshe)	Wholesale of cosmetics	-	-	100.00%	Note 4
Asian Crown	Fortune Kingdom Corporation (Fortune Kingdom)	Investment	100.00%	100.00%	100.00%	Note 3
Fortune Kingdom	Hong Kong Fubon Multimedia Technology Co., Ltd. (HK Fubon Multimedia)	Investment	100.00%	100.00%	100.00%	Note 3
Honest Development	Hongkong Yue Numerous Investment Co., Ltd. (HK Yue Numerous)	E-commerce portals and investment	100.00%	100.00%	100.00%	-
HK Yue Numerous	Shenzhen Hbo Information Advisory Co., Ltd. (Shenzhen Hbo)	Information services and investment	100.00%	100.00%	100.00%	-
HK Fubon Multimedia	Fubon Gehua (Beijing) Enterprise Ltd. (FGE)	Wholesaling	-	-	93.55%	Note 4

Note 1: TCC, TFN, and TID collectively owned 692,600 thousand shares of TWM, representing $18.6\%$ of the total shares outstanding as of March 31, 2026.
Note 2: The other $70.47\%$ of shares were held under trustee accounts.
Note 3: The subsidiaries were resolved to be dissolved by their Board of Directors and are currently in the process of liquidation. The remaining funds were remitted in stages to mom between March and April 2026.
Note 4: The liquidation process was completed in 2025.
3) Subsidiaries excluded from the consolidated financial statements: None.

c. Employee Benefits

Defined benefit pension cost for an interim period is calculated on a year-to-date basis by using the

actuarially determined pension cost rate at the end of the prior fiscal year.

d. Income Tax

Income tax expense represents the sum of the tax currently payable and deferred tax. The interim period income tax expense is accrued using the tax rate that would be applicable to expected total annual earnings, that is, the estimated average annual effective income tax rate applied to the profit before tax of the interim period.

MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The same material accounting judgments and key sources of estimation uncertainty have been followed when preparing these interim consolidated financial statements as those that were applied in the preparation of the consolidated financial statements for the year ended December 31, 2025.

CASH AND CASH EQUIVALENTS

	March 31, 2026	December 31, 2025	March 31, 2025
Cash on hand and revolving funds	$ 54,521	$ 79,697	$ 114,251
Cash in banks	7,392,799	6,856,205	8,049,731
Time deposits	2,018,300	1,034,233	2,766,454
Government bonds with repurchase rights	596,532	595,104	630,568
	$ 10,062,152	$ 8,565,239	$ 11,561,004

FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

	March 31, 2026	December 31, 2025	March 31, 2025
Investments in equity instruments-current
Domestic investments
Listed stocks	$ 289,077	$ 283,643	$ 279,296
Foreign investments
Listed stocks	137	115	167
	$ 289,214	$ 283,758	$ 279,463
Investments in equity instruments - non-current
Domestic investments
Listed stocks	$ 540,665	$ 290,728	$ 326,730
Unlisted stocks	1,311,592	1,352,256	1,142,673
Foreign investments
Unlisted stocks	2,324,369	2,262,779	2,484,813
	$ 4,176,626	$ 3,905,763	$ 3,954,216

These investments in equity instruments are held for medium to long-term strategic purposes. Accordingly, the management elected to designate these investments in equity instruments as at fair value through other comprehensive income (FVTOCI) as they believed that recognizing short-term fluctuations from these investments' fair value in profit or loss would not be consistent with the Group's strategy of holding these investments for long-term purposes.

8. NOTES AND ACCOUNTS RECEIVABLE, NET

	March 31, 2026	December 31, 2025	March 31, 2025
Notes receivable	$ 8,967	$ 19,347	$ 89,210
Accounts receivable	9,959,019	9,909,373	9,487,903
Less: Allowance for impairment loss	( 450,905)	( 473,806)	( 490,806)
	$ 9,517,081	$ 9,454,914	$ 9,086,307

The main credit terms range from 30 to 90 days.

The Group serves a large consumer base for its telecommunications business; therefore, the concentration of credit risk is limited. When entering into transactions with customers, the Group considers the record of arrears in the past. In addition, the Group may also collect some telecommunication charges in advance to reduce the risk of payment arrears in subsequent periods.

The Group adopted a policy of only trading with corporate counterparties with a considerable scale of operations, certain credit ratings and financial conditions for telecommunications service and products. In addition to examining publicly available financial information and its own historical transaction experience, the Group obtains collateral where necessary to mitigate the risk of loss arising from default. The Group continues to monitor the credit exposure and financial and credit conditions of its counterparties, and spreads the total amount of the transactions among qualified counterparties.

In order to mitigate credit risk, the management of the Group has delegated a team responsible for determining credit limits, credit approvals and other monitoring procedures to ensure the recoverability of receivables. In addition, the Group reviews the recoverable amount of trade receivables at balance sheet dates to ensure that adequate allowance is provided for possible irrecoverable amounts. In this regard, the management believes the Group's credit risk could be reasonably reduced.

The Group measures the loss allowance for trade receivables at an amount equal to lifetime expected credit losses (ECLs). The ECLs on trade receivables are estimated using a provision matrix approach considering the past default records of the customers and an analysis of the customers' current financial positions, as well as forward-looking indicators such as the change rates of consumer price index, economic leading indicators and economic growth rate. As the Group's historical credit loss experience does not show significantly different loss patterns for different customer segments, the provision matrix does not distinguish customer segments. As a result, the expected credit loss rate is based on the number of past due days of trade receivables.

The Group writes off a trade receivable when there is evidence indicating that the counterparty is in severe financial difficulty and the trade receivable is considered uncollectible. For trade receivables that have been written off, the Group continues to engage in enforcement activity to attempt to recover the receivables due. Where recoveries are made, these are recognized in profit or loss.

Movements of the loss allowance for notes and accounts receivable by individual and collective assessment were as follows:

March 31, 2026

	Not Past Due	Overdue			Total
		1 to 120 Days	121 to 365 Days	Over 365 Days
Gross carrying amount	$ 8,926,158	$ 799,081	$ 240,238	$ 2,509	$ 9,967,986
Loss allowance (Lifetime ECLs)	( 71,058)	( 150,765)	( 226,573)	( 2,509)	( 450,905)
Amortized cost	$ 8,855,100	$ 648,316	$ 13,665	$ -	$ 9,517,081

December 31, 2025

	Not Past Due	Overdue			Total
		1 to 120 Days	121 to 365 Days	Over 365 Days
Gross carrying amount	$ 8,836,052	$ 834,564	$ 255,629	$ 2,475	$ 9,928,720
Loss allowance (Lifetime ECLs)	( 71,228)	( 159,098)	( 241,005)	( 2,475)	( 473,806)
Amortized cost	$ 8,764,824	$ 675,466	$ 14,624	$ -	$ 9,454,914

For the aforementioned periods, the expected credit loss rates ranged from 0.02%~83.33% for trade receivables not past due and past due within 120 days, and from 65.5%~100% for trade receivables past due over 120 days.

March 31, 2025

	Not Past Due	Overdue			Total
		1 to 120 Days	121 to 365 Days	Over 365 Days
Gross carrying amount	$ 8,492,804	$ 806,494	$ 276,825	$ 990	$ 9,577,113
Loss allowance (Lifetime ECLs)	( 67,159)	( 163,386)	( 259,271)	( 990)	( 490,806)
Amortized cost	$ 8,425,645	$ 643,108	$ 17,554	$ -	$ 9,086,307

For the year ended March 31, 2025, the expected credit loss rates ranged from 0.02%~83.24% for trade receivables not past due and past due within 120 days, and from 65.5%~100% for trade receivables past due over 120 days.

Movements of the loss allowance of notes and accounts receivable were as follows:

	For the Three Months Ended March 31
	2026	2025
Beginning balance	$ 473,806	$ 487,947
Add: Provision	60,724	85,088
Recovery	19,376	18,628
Less: Write-off	( 103,001)	( 100,857)
Ending balance	$ 450,905	$ 490,806

INVENTORIES

	March 31, 2026	December 31, 2025	March 31, 2025
Merchandise	$ 6,900,507	$ 8,622,026	$ 7,378,099
Materials for maintenance	12,697	11,630	14,134
	$ 6,913,204	$ 8,633,656	$ 7,392,233

For the three months ended March 31, 2026 and 2025, the cost of goods sold related to inventories amounted to $29,162,255 thousand and $28,659,848 thousand, respectively, which included the inventory write-down totaling $18,239 thousand and $1,077 thousand, respectively.

10. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

Associates, which were not individually material and were accounted for using equity method, were as follows:

Investee Company	March 31, 2026		December 31, 2025		March 31, 2025
	Amount	% of Ownership	Amount	% of Ownership	Amount	% of Ownership
Systex Corporation (SYSTEX)	$ 4,175,253	11.86	$ 4,082,641	11.86	$ 4,076,247	11.86
PACM CPT Media Limited (PACM)	3,091,637	30.00	-	-	-	-
AppWorks Ventures Co., Ltd. (AppWorks)	270,068	51.00	257,837	51.00	263,809	51.00
AppWorks Fund III Co., Ltd. (AppWorks Fund III)	484,438	20.14	474,019	20.14	556,628	20.14
AppWorks Fund IV L.P. (AppWorks Fund IV)	301,667	16.64	297,547	16.64	313,109	17.52
Uspace Tech Co., Ltd. (Uspace)	216,833	31.76	235,170	31.76	258,501	32.40
NADA Holdings Corp. (NADA)	127,215	17.88	103,929	17.65	107,603	18.64
Tropics Entertainment Co., Ltd. (Tropics)	54,538	40.00	56,040	40.00	57,151	40.00
Fubon Green Power Co., Ltd. (Fubon Green Power)	593,166	15.00	594,320	15.00	597,198	15.00
WeMo (Cayman) Corp. (WeMo)	384,109	17.28	387,209	17.28	-	-
Bronci Technology Inc. (Bronci)	72,652	23.85	73,376	23.85	-	-
Global Home Shopping Co., Ltd. (GHS)	242,166	20.00	225,228	20.00	320,940	20.00
kbro Media Co., Ltd. (kbro Media)	49,913	33.58	50,122	33.58	55,341	33.58
Mistake Entertainment Co., Ltd. (M.E.)	35,284	11.33	34,689	11.33	33,467	11.33
SK Biomedical INC. (SK Biomedical)	4,247	20.00	4,661	20.00	5,580	20.00
Wei Xiang Corp. (WeMo TW)	-	-	-	-	62,240	28.13
	$ 10,103,186		$ 6,876,788		$ 6,707,814

a. SYSTEX
In September 2024, the Group acquired 11.86% equity interest of SYSTEX, and has significant influence on SYSTEX due to having representation on its Board of Directors.

b. AppWorks
In September 2019, the Group acquired 51% equity interest of AppWorks. The Group has no control over AppWorks due to its holding less than half number of seats on AppWorks' Board of Directors.

Therefore, the Group only has significant influence on AppWorks and accounts for its investment in AppWorks as an associate of the Group, under the equity-method of accounting.

c. AppWorks Fund III

In April 2020, the Group acquired 19.46% equity interest of AppWorks Fund III. The Group has significant influence on AppWorks Fund III since the president of TWM serves as the chairman of AppWorks Fund III. The Group’s percentage of ownership interest in AppWorks Fund III increased to 20.14% due to non-proportionate subscription to AppWorks Fund III’s issuance of new capital stock.

d. AppWorks Fund IV

As of December 2022, the Group subscribed 32.86% equity of AppWorks Fund IV and became the single largest limited partner. Since the management, control, operation and decision-making of the limited partnerships investments were executed by general partner, the Group had no control over AppWorks Fund IV but retained significant influence. Due to the non-proportionate subscription to AppWorks Fund IV's capital increase, the percentage of ownership interest in AppWorks Fund IV decreased, and was no longer the single largest limited partner.

e. Uspace

From October to November 2022, the Group acquired 32.9% equity interest of Uspace. Although the Group was the single largest stockholder of Uspace, it only obtained one out of five seats of the Board of Directors. In addition, the management considered the size of ownership interest and the dispersion of shares owned by other stockholders, the other holdings were not extremely dispersed. Therefore, the Group has no control over Uspace but retains significant influence. The Group’s percentage of ownership interest in Uspace decreased due to non-proportionate subscription to Uspace’s issuance of new capital stock.

f. NADA

In December 2021, the Group acquired 37.93% equity interest of NADA. Due to the disposal of a portion of its equity interest of NADA in March 2025 and non-proportionate subscription to NADA’s issuance of new capital stock, the percentage of ownership interest in NADA decreased. The Group has significant influence on NADA due to having representation on its Board of Directors.

g. Fubon Green Power

In June 2024, TWM and momo acquired 10% and 5% equity interest of Fubon Green Power, respectively, resulting in the Group’s ownership percentage of 15%. The Group has significant influence on Fubon Green Power due to having representation on its Board of Directors.

h. WeMo

In October 2025, the Group acquired 17.28% equity interest of WeMo, and has significant influence on WeMo due to having representation on its Board of Directors.

i. GHS

In June 2015, the Group acquired 20% equity interest of GHS through its subsidiary. As the Group did not participate in GHS’s capital increase in October 2015, its percentage of ownership interest in GHS decreased to 18%. In January 2016, its percentage of ownership interest in GHS increased to 20% due to the acquisition of an additional 2% equity interest of GHS.

j. WeMo TW

In October 2025, the Group disposed of all of its equity interest of WeMo TW.

18 -

11. SUBSIDIARIES WITH MATERIAL NON-CONTROLLING INTERESTS

	Proportion of Non-controlling Interests’ Ownership and Voting Rights
	March 31, 2026	December 31, 2025	March 31, 2025
Subsidiary
momo	54.99 %	54.99 %	54.99 %

For information on the principal place of business and the company’s country of registration, see Table 6.

The summarized financial information of momo and its subsidiaries had taken into account the adjustments to acquisition-date fair value, and reflected the amounts before eliminations of intercompany transactions as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Current assets	$ 10,815,454	$ 11,030,302	$ 12,693,427
Non-current assets	23,481,174	23,492,236	22,617,094
Current liabilities	( 14,414,518)	( 15,118,436)	( 14,196,453)
Non-current liabilities	( 1,975,286)	( 2,140,872)	( 2,686,945)
Equity	$ 17,906,824	$ 17,263,230	$ 18,427,123
Equity attributable to:
Owners of the parent	$ 11,208,759	$ 10,919,555	$ 11,443,598
Non-controlling interests of momo	6,613,356	6,260,097	6,900,207
Non-controlling interests of momo’s subsidiaries	84,709	83,578	83,318
	$ 17,906,824	$ 17,263,230	$ 18,427,123
	For the Three Months Ended March 31
---	---	---
	2026	2025
Operating revenue	$ 26,593,466	$ 26,405,156
Profit	$ 644,908	$ 859,588
Other comprehensive income (loss)	( 1,314)	7,395
Comprehensive income	$ 643,594	$ 866,983
Profit attributable to:
Owners of the parent	$ 289,796	$ 386,915
Non-controlling interests of momo	353,981	472,611
Non-controlling interests of momo’s subsidiaries	1,131	62
	$ 644,908	$ 859,588
Comprehensive income attributable to:
Owners of the parent	$ 289,204	$ 390,239
Non-controlling interests of momo	353,259	476,670
Non-controlling interests of momo’s subsidiaries	1,131	74
	$ 643,594	$ 866,983

For the Three Months Ended
March 31

	2026	2025
Net cash generated from operating activities	$ 1,361,094	$ 138,086
Net cash used in investing activities	( 201,584)	( 502,617)
Net cash used in financing activities	( 181,019)	( 206,897)
Effect of exchange rate changes	2,165	51
Net increase (decrease) in cash	$ 980,656	$ (571,377)

PROPERTY, PLANT AND EQUIPMENT

	Land	Buildings	Telecommunications Equipment and Machinery	Others	Construction in Progress and Equipment to be Inspected	Total
Cost
Balance, January 1, 2026	$ 11,297,535	$ 8,674,189	$ 116,478,049	$ 10,322,873	$ 4,423,095	$ 151,195,741
Additions	-	-	72,198	47,976	1,326,331	1,446,505
Disposals and retirements	-	-	( 620,335)	( 153,995)	( 4)	( 774,334)
Reclassification	( 16,909)	( 10,377)	1,477,452	64,629	( 1,529,815)	( 15,020)
Balance, March 31, 2026	$ 11,280,626	$ 8,663,812	$ 117,407,364	$ 10,281,483	$ 4,219,607	$ 151,852,892
Accumulated depreciation and impairment
Balance, January 1, 2026	$ -	$ 2,880,201	$ 88,786,941	$ 8,922,216	$ -	$ 100,589,358
Depreciation	-	61,558	2,287,816	183,969	-	2,533,343
Disposals and retirements	-	-	( 598,943)	( 153,481)	-	( 752,424)
Reclassification	-	( 5,741)	-	-	-	( 5,741)
Balance, March 31, 2026	$ -	$ 2,936,018	$ 90,475,814	$ 8,952,704	$ -	$ 102,364,536
Carrying amount, January 1, 2026	$ 11,297,535	$ 5,793,988	$ 27,691,108	$ 1,400,657	$ 4,423,095	$ 50,606,383
Carrying amount, March 31, 2026	$ 11,280,626	$ 5,727,794	$ 26,931,550	$ 1,328,779	$ 4,219,607	$ 49,488,356
Cost
Balance, January 1, 2025	$ 11,337,067	$ 8,656,679	$ 124,950,727	$ 10,078,230	$ 3,064,860	$ 158,087,563
Additions	-	-	37,752	83,642	1,488,756	1,610,150
Disposals and retirements	-	-	( 11,647,927)	( 85,257)	-	( 11,733,184)
Reclassification	( 4,192)	( 2,677)	1,459,123	83,765	( 1,534,727)	1,292
Balance, March 31, 2025	$ 11,332,875	$ 8,654,002	$ 114,799,675	$ 10,160,380	$ 3,018,889	$ 147,965,821
Accumulated depreciation and impairment
Balance, January 1, 2025	$ -	$ 2,636,095	$ 94,966,958	$ 8,684,070	$ -	$ 106,287,123
Depreciation	-	61,307	2,407,262	181,672	-	2,650,241
Disposals and retirements	-	-	( 11,612,616)	( 84,921)	-	( 11,697,537)
Reclassification	-	158	-	-	-	158
Balance, March 31, 2025	$ -	$ 2,697,560	$ 85,761,604	$ 8,780,821	$ -	$ 97,239,985
Carrying amount, March 31, 2025	$ 11,332,875	$ 5,956,442	$ 29,038,071	$ 1,379,559	$ 3,018,889	$ 50,725,836

20 -

Property, plant and equipment are depreciated on a straight-line basis over their estimated useful lives as follows:

Buildings
- Primary buildings 20-55 years
- Mechanical and electrical equipment 5-15 years
- Telecommunications equipment and machinery 1-20 years
- Others 1-15 years

13. LEASE ARRANGEMENTS

a. Right-of-use assets

	March 31, 2026	December 31, 2025	March 31, 2025
Carrying amount
Land	$ 610,553	$ 605,138	$ 637,491
Buildings	13,962,096	11,992,468	10,562,822
Telecommunications equipment and machinery	358,647	377,714	402,133
Others	113,813	125,799	83,153
	$ 15,045,109	$ 13,101,119	$ 11,685,599
	For the Three Months Ended March 31
---	---	---
	2026	2025
Additions to right-of-use assets	$ 3,225,149	$ 1,729,719
Depreciation charge for right-of-use assets
Land	$ 66,027	$ 66,568
Buildings	1,110,436	994,685
Telecommunications equipment and machinery	28,117	26,400
Others	17,389	15,034
	$ 1,221,969	$ 1,102,687

Except for the aforementioned additions and recognized depreciation, the Group did not have significant sublease or impairment of right-of-use assets during the three months ended March 31, 2026 and 2025.

21 -

b. Lease liabilities

	March 31, 2026	December 31, 2025	March 31, 2025
Carrying amount
Current	$ 4,379,552	$ 4,184,922	$ 4,040,781
Non-current	$ 10,898,477	$ 9,101,807	$ 7,698,039

Range of discount rates for lease liabilities was as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Land	0.62%~1.83%	0.61%~1.83%	0.61%~1.7%
Buildings	0.62%~4.06%	0.61%~4.06%	0.61%~1.7%
Telecommunications equipment and machinery	0.63%~1.83%	0.63%~1.83%	0.64%~1.44%
Others	0.62%~1.83%	0.62%~1.83%	0.62%~1.7%

c. Material lease-in activities and terms

The Group leases base transceiver stations and machine rooms, stores, offices, warehouses, maintenance centers, equipment, etc., with most of the lease terms ranging from 1 to 6 years. The Group does not have bargain purchase options to acquire the leasehold assets at the end of the lease terms. In addition, the Group is prohibited from subleasing all or any portion of the underlying assets without the lessors' consents in some lease agreements. The Group can early terminate the arrangements if there are any controversial or other incidental matters that will cause the leasehold assets not being able to meet the purposes of use.

d. Other lease information

	For the Three Months Ended March 31
	2026	2025
Expenses related to short-term leases	$ 9,700	$ 9,798
Expenses related to low-value asset leases	$ 10,879	$ 15,040
Expenses related to variable lease payments and not included in the measurement of lease liabilities	$ 7,033	$ 8,856
Total cash outflow for leases	$ 1,242,397	$ 1,212,220

14. INVESTMENT PROPERTIES

The fair values of investment properties were measured using Level 3 inputs, arising from income approach, comparative approach, and cost approach adopted by a third party real estate appraiser, HomeBan Appraisers Joint Firm. As of March 31, 2026, December 31, 2025 and March 31, 2025, the fair values of investment properties were $5,836,871 thousand, $5,798,899 thousand and $5,669,440 thousand, respectively, and the capitalization rates for the aforementioned financial reporting periods were all ranged from 0.96%~4.07%, respectively.

The amounts of depreciation recognized for the three months ended March 31, 2026 and 2025 were $3,868 thousand and $3,850 thousand, respectively.

The maturity analysis of lease payments receivable under operating leases of investment properties was as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Year 1	$ 104,825	$ 109,431	$ 112,639
Year 2	87,422	88,588	99,921
Year 3	65,464	75,957	85,344
Year 4	20,415	29,336	63,646
Year 5	7,448	7,836	18,861
Year 6 and thereafter	11,183	12,949	18,246
	$ 296,757	$ 324,097	$ 398,657

15. INTANGIBLE ASSETS

	Concessions		Goodwill	Other Intangible Assets				Total
	Concession Licenses	Service Concessions		Customer Relationships	Operating Rights	Trademarks	Computer Software and Others
Cost
Balance, January 1, 2026	$ 92,149,830	$ 8,180,078	$ 33,228,022	$ 3,599,602	$ 1,382,000	$ 2,495,133	$ 5,124,799	$ 146,159,464
Additions	-	-	-	-	-	-	102,164	102,164
Disposals and retirements	-	-	-	-	-	-	( 147,187)	( 147,187)
Reclassification	-	-	-	-	-	-	20,944	20,944
Balance, March 31, 2026	$ 92,149,830	$ 8,180,078	$ 33,228,022	$ 3,599,602	$ 1,382,000	$ 2,495,133	$ 5,100,720	$ 146,135,385
Accumulated amortization and impairment
Balance, January 1, 2026	$ 37,447,597	$ 2,282,340	$ -	$ 2,571,758	$ -	$ 853	$ 4,334,668	$ 46,637,216
Amortization	1,404,069	44,680	-	48,087	-	17	165,110	1,661,963
Disposals and retirements	-	-	-	-	-	-	( 147,187)	( 147,187)
Balance, March 31, 2026	$ 38,851,666	$ 2,327,020	$ -	$ 2,619,845	$ -	$ 870	$ 4,352,591	$ 48,151,992
Carrying amount, January 1, 2026	$ 54,702,233	$ 5,897,738	$ 33,228,022	$ 1,027,844	$ 1,382,000	$ 2,494,280	$ 790,131	$ 99,522,248
Carrying amount, March 31, 2026	$ 53,298,164	$ 5,853,058	$ 33,228,022	$ 979,757	$ 1,382,000	$ 2,494,263	$ 748,129	$ 97,983,393

	Concessions		Goodwill	Other Intangible Assets				Total
	Concession Licenses	Service Concessions		Customer Relationships	Operating Rights	Trademarks	Computer Software and Others
Cost
Balance, January 1, 2025	$ 92,149,830	$ 8,180,078	$ 33,254,687	$ 3,599,602	$ 1,382,000	$ 2,495,133	$ 4,938,680	$ 146,000,010
Additions	-	-	-	-	-	-	99,566	99,566
Disposals and retirements	-	-	-	-	-	-	( 97,126)	( 97,126)
Reclassification	-	-	-	-	-	-	16,859	16,859
Balance, March 31, 2025	$ 92,149,830	$ 8,180,078	$ 33,254,687	$ 3,599,602	$ 1,382,000	$ 2,495,133	$ 4,957,979	$ 146,019,309
Accumulated amortization and impairment
Balance, January 1, 2025	$ 31,831,319	$ 2,103,621	$ 26,665	$ 2,379,410	$ -	$ 787	$ 4,213,285	$ 40,555,087
Amortization	1,404,069	44,680	-	48,087	-	17	151,167	1,648,020
Disposals and retirements	-	-	-	-	-	-	( 97,126)	( 97,126)
Balance, March 31, 2025	$ 33,235,388	$ 2,148,301	$ 26,665	$ 2,427,497	$ -	$ 804	$ 4,267,326	$ 42,105,981
Carrying amount, March 31, 2025	$ 58,914,442	$ 6,031,777	$ 33,228,022	$ 1,172,105	$ 1,382,000	$ 2,494,329	$ 690,653	$ 103,913,328

The above intangible assets are amortized on a straight-line basis over their estimated useful lives as follows:

Concession licenses 14-21 years

Service concessions 44-50 years

Customer relationships 17-20 years

Trademarks 10 years

Computer software 1-10 years

Other intangible assets

Copyrights

Amortized over the broadcast period

a. Service concessions

On January 15, 2009, TNH signed a BOT contract with the Taipei City Government. Under the BOT contract, TNH obtained the right to build and operate a development project located at the old Songshan Tobacco Plant. The development concession premium of superficies is amortized on a straight-line basis during the contract period, and the construction costs are amortized on a straight-line basis from the completion date of the construction to the BOT contract expiry date.

b. Customer relationships, operating rights, and trademarks

The Group measures the fair value of acquired assets when acquisitions occur, and identifies the fair value and amortization periods of the intangible assets which conform to materiality and related standards. Although some of the intangible assets such as operating rights and trademarks have legal useful lives, which can be extended, the Group regards these assets as intangible assets with indefinite useful lives.

1) On April 17, 2007, TFN, one of TWM's wholly-owned subsidiaries, acquired more than 50% of the former Taiwan Fixed Network Co., Ltd. (former TFN) through a public tender offer. TWM split the former TFN and its subsidiaries into two cash-generating units, i.e., fixed network services and cable television and broadband business. Accordingly, customer relationships and operating rights were identified and separately disclosed.
2) On July 13, 2011, WMT, one of TWM's wholly-owned subsidiaries, acquired control over momo. In the assessment of momo's retail business, based on the analysis results, trademarks were identified and separately disclosed.

3) On December 1, 2023, TWM completed the absorption merger with TST. In the assessment of TST's mobile communication services, based on the analysis results, customer relationships were identified and separately disclosed.

c. Goodwill

The carrying amounts of goodwill allocated to the cash-generating units were as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Mobile communication services	$ 24,620,850	$ 24,620,850	$ 24,620,850
Fixed network services	357,970	357,970	357,970
Retail business	4,979,566	4,979,566	4,979,566
Cable television and broadband business	3,269,636	3,269,636	3,269,636
	$ 33,228,022	$ 33,228,022	$ 33,228,022

d. Impairment of assets

See Note 15.d. to the consolidated financial statements for the year ended December 31, 2025 for the related information on impairment of assets. There was no significant evidence indicating impairment of intangible assets as of March 31, 2026.

OTHER NON-CURRENT ASSETS

	March 31, 2026	December 31, 2025	March 31, 2025
Long-term accounts receivable	$ 168,285	$ 167,847	$ 149,156
Refundable deposits	1,215,430	1,231,462	941,866
Other prepayments	346,895	345,503	553,402
Prepayments for investment	-	14,119	17,451
Others	463,622	464,444	463,409
	$ 2,194,232	$ 2,223,375	$ 2,125,284

BORROWINGS

a. Short-term borrowings

	March 31, 2026	December 31, 2025	March 31, 2025
Unsecured loans	$ 11,400,000	$ 11,200,000	$ 12,655,000
Annual interest rates	1.72%~1.78%	1.72%~1.8%	1.765%~1.933636%

For the information on endorsements and guarantees, see Note 31.b.

b. Short-term notes and bills payable

	March 31, 2026	December 31, 2025	March 31, 2025
Short-term notes and bills payable	$ 5,100,000	$ 6,900,000	$ 1,300,000
Less: Discounts on short-term notes and bills payable	( 6,792)	( 8,838)	( 2,933)
	$ 5,093,208	$ 6,891,162	$ 1,297,067
Annual interest rates	1.668%~1.678%	1.608%~1.618%	1.758%

c. Commercial papers payable - revolving credit facilities

	March 31, 2026	December 31, 2025	March 31, 2025
Commercial papers payable - current	$ 10,500,000	$ -	$ -
Commercial papers payable -non-current	-	11,500,000	13,000,000
Less: Discounts on commercial papers payable	( 4,323)	( 8,274)	( 10,051)
Less: Current portion	-	( 1,998,602)	( 1,496,222)
	$ 10,495,677	$ 9,493,124	$ 11,493,727
Annual interest rates	1.8217%~1.9317%	1.8197%~1.9297%	1.535%~1.9333%

TWM's commercial papers payable are treated as revolving credit facilities under the contracts. The last repayment date of the commercial papers payable is in February 2028. In accordance with the Q&A "Transition Requirements of the ARDF Q&A - Liability Classification of Funds Raised Through The Revolving Issuance of Commercial Papers" issued by the FSC on August 15, 2025, these commercial papers were classified as current liabilities from the date of the revolving issuance in January 2026.

TWM settled the commercial papers payable of $1,000,000 thousand earlier in January 2026. The original agreed settlement date is in January 2028.

d. Long-term borrowings

	March 31, 2026	December 31, 2025	March 31, 2025
Unsecured loans	$ 13,200,000	$ 13,200,000	$ 14,400,000
Secured loans	1,388,915	1,417,070	1,579,243
Less: Unamortized expenses on unsecured loans	( 5,682)	( 6,305)	( 8,310)
Less: Current portion	( 1,612,620)	( 1,612,620)	( 1,330,120)
	$ 12,970,613	$ 12,998,145	$ 14,640,813
Annual interest rates:
Unsecured loans	1.9137%	1.9137%	1.9135%
Secured loans	2.3526%	2.3526%	2.105%~2.3526%

1) Unsecured loans

To repay existing loans from financial institutions and enhance mid-term working capital, TWM entered into a syndicated loan with a joint credit agreement with six banks, including Bank of Taiwan and Mega International Commercial Bank on November 16, 2023. The credit limit was set at $15,000,000 thousand, with a credit period of 5 years. From December 13, 2023, the first installment would be due after 12 months, followed by subsequent installments every 6 months, totaling 9 repayment periods. The agreement stipulates the specific financial covenants, such as maintaining a certain net debt ratio, interest coverage ratio, operating EBITDA etc. throughout the loan term.

2) Secured loans

TNH entered into a syndicated loan agreement, with respect to the investment under the aforementioned BOT contract. The credit agreement originally signed in 2017 had been terminated in advance. In 2023, TNH signed another credit agreement with Bank of Taiwan for a credit amount and a guarantee amount totaling $2,558,000 thousand with interest payments made on a regular basis. The maturity date of the main agreement is in November 2030. Certain loan agreements allow for revolving utilization within the financing limit, and the maturity date is disclosed based on the expiration date of the revolving utilization agreement. In accordance with the loan agreement, the regular financial covenants, e.g., current ratio, equity ratio, and interest protection multiples, must be complied with during the loan term. For property under the BOT contract and its superficies that have been pledged as collateral, see Note 30.

TNH settled the secured loan of $21,845 thousand earlier in May 2026. The original agreed settlement date is in November 2030.

BONDS PAYABLE

	March 31, 2026	December 31, 2025	March 31, 2025
5th domestic unsecured straight corporate bonds	$ -	$ -	$ 8,999,931
6th domestic unsecured straight corporate bonds	14,996,513	14,996,024	14,994,528
7th domestic unsecured straight corporate bond	2,498,846	2,498,722	2,498,342
1st domestic unsecured straight corporate bond in 2023	6,496,850	6,496,487	6,495,380
1st domestic unsecured straight corporate bond in 2024	1,998,195	1,998,067	1,997,678
1st domestic unsecured straight corporate bond in 2025	3,696,525	3,696,314	-
4th domestic unsecured convertible bond	6,488,189	6,457,128	6,363,139
5th domestic unsecured convertible bond	2,794,133	2,781,616	2,743,714
Less: Current portion	( 9,998,561)	-	( 8,999,931)
	$ 28,970,690	$ 38,924,358	$ 35,092,781

a. 5th domestic unsecured straight corporate bonds

On April 20, 2018, TWM issued the 5th domestic unsecured straight corporate bonds. The bonds included seven-year bonds, with the principal amount of $9,000,000 thousand, having a face value of $10,000 thousand, and coupon rate of 1% per annum, with simple interest due annually. Repayment will be made in full at maturity. The trustee of bond holders is Bank of Taiwan.

The above-mentioned bond was due and the repayment had been made in April 2025.

b. 6th domestic unsecured straight corporate bonds

On March 24, 2020, TWM issued the 6th domestic unsecured straight corporate bonds. The bonds included five-year, seven-year, and ten-year bonds, with the principal amount of $5,000,000 thousand, $10,000,000 thousand and $5,000,000 thousand, each having a face value of $10,000 thousand, and coupon rates of 0.64%, 0.66% and 0.72% per annum, respectively, with simple interest due annually. Repayment will be made in full at maturity. As of March 31, 2026, the amount of unamortized bond issue cost was $3,487 thousand. The trustee of bond holders is Bank of Taiwan.

The above-mentioned five-year bond was due and the repayment had been made in March 2025.

Future repayments of the above-mentioned corporate bonds are as follows:

Year	Amount
2027	$ 10,000,000
2030	5,000,000
	$ 15,000,000

c. 7th domestic unsecured straight corporate bond

On July 13, 2021, TWM issued the 7th domestic unsecured straight corporate bond. The bond was seven-year bond, with the principal amount of $2,500,000 thousand, having a face value of $10,000 thousand, and coupon rate of 0.53% per annum, with simple interest due annually. Repayment will be made in full at maturity. As of March 31, 2026, the amount of unamortized bond issue cost was $1,154 thousand. The trustee of bond holders is Bank of Taiwan.

Future repayments of the above-mentioned corporate bond is as follows:

Year	Amount
2028	$ 2,500,000

d. 1st domestic unsecured straight corporate bond in 2023

On May 22, 2023, TWM issued the 1st domestic unsecured straight corporate bond in 2023 and obtained Social Bond accreditation. The bond was five-year bond, with the principal amount of $6,500,000 thousand, having a face value of $10,000 thousand, and coupon rate of 1.537% per annum, with simple interest due annually. Repayment will be made in full at maturity. As of March 31, 2026, the amount of unamortized bond issue cost was $3,150 thousand. The trustee of bond holders is Bank of Taiwan.

Future repayments of the above-mentioned corporate bond is as follows:

Year	Amount
2028	$ 6,500,000

e. 1st domestic unsecured straight corporate bond in 2024

On September 27, 2024, TWM issued the 1st domestic unsecured straight corporate bond in 2024 and obtained Social Bond accreditation. The bond was five-year bond, with the principal amount of $2,000,000 thousand, having a face value of $10,000 thousand, and coupon rate of 1.89% per annum, with simple interest due annually. Repayment will be made in full at maturity. As of March 31, 2026, the amount of unamortized bond issue cost was $1,805 thousand. The trustee of bond holders is Bank of Taiwan.

Future repayments of the above-mentioned corporate bond is as follows:

Year	Amount
2029	$ 2,000,000

f. 1st domestic unsecured straight corporate bond in 2025

On April 28, 2025, TWM issued the 1st domestic unsecured straight corporate bond in 2025 and obtained Social Bond accreditation. The bond was five-year bond, with the principal amount of $3,700,000 thousand, having a face value of $10,000 thousand, and coupon rate of 1.9% per annum, with simple interest due annually. Repayment will be made in full at maturity. As of March 31, 2026, the amount of unamortized bond issue cost was $3,475 thousand. The trustee of bond holders is Bank of Taiwan.

Future repayments of the above-mentioned corporate bond is as follows:

Year	Amount
2030	$ 3,700,000

g. 4th domestic unsecured convertible bond

On February 24, 2025, TWM issued its 4th domestic five-year unsecured zero-coupon convertible bond with an aggregate principal amount of $7,000,000 thousand and a par value of $100 thousand per bond certificate at 100%. The conversion price is set initially at $123 per share. The conversion price should be adjusted according to the prescribed formula and has been adjusted to $118.2 per share since July 15, 2025. Except for the book closure period, bondholders are entitled to convert bonds into TWM’s common stock from May 25, 2025 to February 24, 2030. The trustee of bond holders is Mega International Commercial Bank Co., Ltd.

If the closing price of TWM’s common stock continues being at least 130% of the conversion price then in effect for 30 consecutive trading days or the aggregate outstanding balance of bonds payable is less than 10% of the original issuance amount, TWM has the right to redeem the outstanding bonds payable at par value in cash during the period from three month after the issuance date to the date 40 days prior to the maturity date.

At the end of the third year from the bond issuance date, bondholders have the right to request TWM to redeem the convertible bonds at par value in cash.

The convertible bond contains both liability and equity components. The equity component was presented in equity under the heading of capital surplus - option. The effective interest rate of the liability component was 1.9462% per annum on initial recognition. As of March 31, 2026, the amount of unamortized bond discount was $511,811 thousand.

29 -

Proceeds from the issuance ( minus transaction costs $4,035 thousand )	$ 6,995,965
Equity component	( 591,159)
Financial liabilities	( 53,869)
Liability component at the date of issuance	6,350,937
Interest charged at the effective interest rate	12,202
Liability component on March 31, 2025	$ 6,363,139
Liability component on January 1,2026	$ 6,457,128
Interest charged at the effective interest rate	31,061
Liability component on March 31, 2026	$ 6,488,189

h. 5th domestic unsecured convertible bond

On February 25, 2025, TWM issued its 5th domestic five-year unsecured zero-coupon convertible bond with an aggregate principal amount of $3,000,000 thousand and a par value of $100 thousand per bond certificate at 100.63%. The conversion price is set initially at $115.8 per share. The conversion price should be adjusted according to the prescribed formula and has been adjusted to $111.3 per share since July 15, 2025. Except for the book closure period, bondholders are entitled to convert bonds into TWM's common stock from May 26, 2025 to February 25, 2030. The trustee of bond holders is Mega International Commercial Bank Co., Ltd.

If the closing price of TWM's common stock continues being at least 130% of the conversion price then in effect for 30 consecutive trading days or the aggregate outstanding balance of bonds payable is less than 10% of the original issuance amount, TWM has the right to redeem the outstanding bonds payable at par value in cash during the period from three month after the issuance date to the date 40 days prior to the maturity date.

At the end of the third year from the bond issuance date, bondholders have the right to request TWM to redeem the convertible bonds at par value in cash.

The convertible bond contains both liability and equity components. The equity component was presented in equity under the heading of capital surplus - option. The effective interest rate of the liability component was 1.821% per annum on initial recognition. As of March 31, 2026, the amount of unamortized bond discount was $205,867 thousand.

Proceeds from the issuance ( minus transaction costs $1,815 thousand )	$ 3,017,105
Equity component	( 260,188)
Financial liabilities	( 17,989)
Liability component at the date of issuance	2,738,928
Interest charged at the effective interest rate	4,786
Liability component on March 31, 2025	$ 2,743,714
Liability component on January 1,2026	$ 2,781,616
Interest charged at the effective interest rate	12,517
Liability component on March 31, 2026	$ 2,794,133

19. PROVISIONS

	March 31, 2026	December 31, 2025	March 31, 2025
Restoration	$ 1,145,876	$ 1,142,156	$ 1,132,477
Replacement	640,879	630,164	596,244
Warranties	11,311	12,278	12,986
Onerous contracts	235,105	237,728	-
	$ 2,033,171	$ 2,022,326	$ 1,741,707
Current	$ 81,795	$ 96,105	$ 113,583
Non-current	1,951,376	1,926,221	1,628,124
	$ 2,033,171	$ 2,022,326	$ 1,741,707
	Restoration	Replacement	Warranties
---	---	---	---
Balance, January 1, 2026	$ 1,142,156	$ 630,164	$ 12,278
Provision	12,045	15,030	2,856
Payment/Reversal	( 9,061)	( 9,266)	( 3,823)
Unwinding of discount	736	4,951	-
Balance, March 31, 2026	$ 1,145,876	$ 640,879	$ 11,311
Balance, January 1, 2025	$ 1,172,174	$ 584,823	$ 14,085
Provision	9,189	14,649	5,118
Payment/Reversal	( 49,549)	( 7,683)	( 6,217)
Unwinding of discount	663	4,455	-
Balance, March 31, 2025	$ 1,132,477	$ 596,244	$ 12,986

20. RETIREMENT BENEFIT PLANS

a. Defined contribution plans

Domestic firms of the Group adopted a pension plan under the Labor Pension Act (LPA), which is a state-managed and defined contribution plan. Under the LPA, an entity makes monthly contributions to employees' individual pension accounts at 6% of monthly salaries and wages. The employees of the Group's subsidiary in other country are participants of state-managed retirement benefit plans operated by local governments. In accordance with the above provisions, the Group's contributions to the pension plan amounted to $116,399 thousand and $113,207 thousand for three months ended March 31, 2026 and 2025, respectively.

b. Defined benefit plans

The Group recognized pension amounts of $216 thousand and $176 thousand as a reduction in expense for the three months ended March 31, 2026 and 2025, respectively, by using the actuarially determined pension cost rate.

32 -

21. EQUITY

a. Common stock

As of March 31, 2026, December 31, 2025 and March 31, 2025, TWM’s authorized capital was $60,000,000 thousand and capital issued and outstanding were both $37,232,618 thousand, divided into 3,723,262 thousand shares, at a par value of $10 each.

b. Capital surplus

	March 31, 2026	December 31, 2025	March 31, 2025
From business combinations	$ 18,190,446	$ 18,190,446	$ 18,190,446
Additional paid-in capital	4,092,496	4,092,496	5,268,728
Treasury stock transactions	5,568,414	5,159,704	5,159,704
Difference between consideration and carrying amount arising from the disposal of subsidiaries’ stock	85,965	85,965	85,965
Changes in equity of subsidiaries	501,215	501,215	501,215
Changes in equity of associates accounted for using equity method	105,185	106,482	89,973
Convertible bonds payable options	851,347	851,347	851,347
Expired share options	13,269	13,269	13,269
Others	31,181	31,181	30,154
	$ 29,439,518	$ 29,032,105	$ 30,190,801

Under the ROC Company Act, capital surplus generated from the excess of the issue price over the par value of capital stock, including the stock issued for business combinations or new capital, the conversion premium from convertible corporate bonds, treasury stock transactions, and the difference between consideration and carrying amount of subsidiaries’ stock disposed of, may be applied to make-up accumulated deficit, if any, or be transferred to capital as stock dividends, or be distributed as cash dividends when there is no accumulated deficit, and this transfer is restricted to a certain percentage of the paid-in capital. The capital surplus arising from changes in equity of subsidiaries, changes in equity of associates accounted for using equity method and the overdue unclaimed dividends could also be applied to make-up accumulated deficit, if any. The other capital surplus cannot be used by any means.

c. Appropriation of earnings and dividend policy

In accordance with the Company’s Articles of Incorporation, TWM’s profits earned in a fiscal year shall first be set aside to pay the applicable taxes, offset losses, and set aside for legal reserve pursuant to laws and regulations, unless the legal reserve has reached TWM’s total paid-up capital. The remaining profits shall be set aside for special reserve in accordance with laws, regulations, or business requirements. Any further remaining profits plus unappropriated earnings shall be distributed in accordance with the proposal submitted by the Board of Directors for approval at a stockholders’ meeting.

TWM adopts a dividend distribution policy whereby only surplus profits of TWM shall be distributed to stockholders. That is, after setting aside amounts for retained earnings based on TWM’s capital budget plan, the residual profits shall be distributed as cash dividends. Stock dividends in a particular year shall be capped at no more than 80% of total dividends to be distributed for that year. The amount of the distributable dividends, the forms in which dividends shall be distributed, and the ratio thereof shall depend on the actual profit and cash positions of TWM and shall be approved by resolutions of the Board of Directors, who shall, upon such approval, recommend the same to the stockholders for approval by resolution at the stockholders’ meetings.

The above appropriation of earnings should be resolved in the annual general stockholders' meeting (AGM) held in the following year.

According to the ROC Company Act, a company shall first set aside its earnings as legal reserve until the legal reserve equals the paid-in capital. The legal reserve may be used to offset losses. After offsetting any deficit, the legal reserve may be transferred to capital and distributed as stock dividends or cash dividends for the amount in excess of 25% of the paid-in capital pursuant to a resolution adopted in the stockholders' meeting.

Pursuant to existing regulations, TWM is required to set aside and reverse additional special reserve equivalent to the net debit balance of the other equity interests, such as the exchange differences on translation and unrealized gain or loss on financial assets at FVTOCI.

The appropriations of earnings for 2025 and 2024, which have been proposed by the Board of Directors on March 13, 2026 and resolved in the AGM on May 29, 2025, respectively, were as follows:

	For Fiscal Year 2025	For Fiscal Year 2024
Legal reserve	$ 1,430,981	$ 1,396,607
Special reserve	830,974	135,582
Cash dividends	12,047,834	12,434,064
Cash dividends per share (NT$)	3.9834	4.1111

In addition, cash distributions arising from capital surplus with respect to the excess of stock issuance price over the par value of capital stock, totaling $2,469,815 thousand and $1,176,232 thousand and representing $0.8166 and $0.3889 per share, were proposed by the Board of Directors and resolved in the AGM; thus, total distributions were $4.8 and $4.5 per share for 2025 and 2024, respectively.

The appropriation of earnings and cash distribution arising from capital surplus for 2025 will be resolved in the AGM to be held on May 29, 2026. The actual cash dividends per share shall be subject to adjustment based on the actual number of shares outstanding as of the ex-dividend record date for such dividend payment.

d. Other equity interests

	Exchange Differences on Translation	Unrealized Gain (Loss) on Financial Assets at FVTOCI	Total
Balance, January 1, 2026	$(49,992)	$(916,564)	$(966,556)
Exchange differences on translation	47,708	-	47,708
Changes in fair value of financial assets at FVTOCI	-	53,212	53,212
Valuation loss (gain) of equity instruments transferred to retained earnings due to disposal	-	(31,627)	(31,627)
Changes in other comprehensive income (loss) of associates accounted for using equity method	6,727	7,591	14,318
Income tax effect	-	(12,128)	(12,128)
Balance, March 31, 2026	$4,443	$(899,516)	$(895,073)

	Exchange Differences on Translation		Unrealized Gain (Loss) on Financial Assets at FVTOCI		Total
Balance, January 1, 2025	$(	18,142)	$(	117,440)	$(
Exchange differences on translation		4,338		-	4,338
Changes in fair value of financial assets at FVTOCI		-	(	205,700)	(
Changes in other comprehensive income (loss) of associates accounted for using equity method		8,138	(	102,646)	(
Income tax effect		-		39,569	39,569
Balance, March 31, 2025	$(	5,666)	$(	386,217)	$(

e. Treasury stock

As of March 31, 2026, December 31, 2025 and March 31, 2025, TWM’s stocks held for the investment purposes by TCC, TFN and TID, which are all wholly-owned by TWM, were 692,600 thousand shares, 698,752 thousand shares and 698,752 thousand shares, respectively and the market values were $75,493,357 thousand, $75,814,549 thousand and $81,404,562 thousand, respectively. Since TWM’s stocks held by its subsidiaries are regarded as treasury stock, TWM recognized $29,455,719 thousand, $29,717,344 thousand and $29,717,344 thousand as treasury stock, respectively. For those treasury stockholders, they have the same rights as the other stockholders, except that they are not allowed to subscribe new shares issued by TWM for cash and exercise the voting rights over such treasury stock.

TCC disposed of 6,152 thousand shares of TWM for $670,335 thousand in the first quarter of 2026. TWM recognized “capital surplus - treasury stock transactions” at the amount of $408,710 thousand.

OPERATING REVENUE

	For the Three Months Ended March 31
	2026	2025
Revenue from contracts with customers
Telecommunications and value-added services	$ 15,728,634	$ 15,170,779
Sales revenue	31,929,028	31,201,884
Cable TV and broadband services	1,604,835	1,379,334
Others	484,874	383,321
Other operating revenue	30,932	32,035
	$ 49,778,303	$ 48,167,353

a. Contract information

Refer to Note 35 and to Note 4.u. to the consolidated financial statements for the year ended December 31, 2025.

b. Contract balances

	March 31, 2026	December 31, 2025	March 31, 2025	January 1, 2025
Contract assets
Bundle sales	$ 15,566,828	$ 16,059,135	$ 14,642,838	$ 14,123,577
Less: Allowance for impairment loss	( 115,436)	( 115,517)	( 109,752)	( 105,849)
	$ 15,451,392	$ 15,943,618	$ 14,533,086	$ 14,017,728
Current	$ 7,728,198	$ 8,134,704	$ 6,983,307	$ 6,780,457
Non-current	7,723,194	7,808,914	7,549,779	7,237,271
	$ 15,451,392	$ 15,943,618	$ 14,533,086	$ 14,017,728

For notes and accounts receivable, please refer to Note 8.

The Group measures the loss allowance for contract assets at an amount equal to lifetime ECLs. The contract assets will be transferred to accounts receivable when the corresponding invoice is billed to the client, and the contract assets have substantially the same risk as the trade receivables. Therefore, the Group concluded that the expected loss rates for trade receivables can be applied to the contract assets.

	March 31, 2026	December 31, 2025	March 31, 2025	January 1, 2025
Contract liabilities
Telecommunications and value-added services	$ 1,516,318	$ 1,610,003	$ 1,652,476	$ 1,692,729
Sales of goods	887,040	449,114	402,109	549,942
Cable TV and broadband services	481,603	455,027	580,789	556,569
Others	7,305	6,616	6,826	4,213
	$ 2,892,266	$ 2,520,760	$ 2,642,200	$ 2,803,453
Current	$ 2,544,943	$ 2,163,953	$ 2,244,786	$ 2,677,430
Non-current	347,323	356,807	397,414	126,023
	$ 2,892,266	$ 2,520,760	$ 2,642,200	$ 2,803,453

The changes in balances of contract assets and contract liabilities primarily result from the timing difference between the satisfaction of performance obligations and the payments collected from customers.

c. Assets related to contract costs

	March 31, 2026	December 31, 2025	March 31, 2025
Incremental costs of obtaining a contract - non-current	$ 2,377,776	$ 2,434,927	$ 2,618,420

The Group considered the past experience and the default clauses in the sale contracts and believed the commission and the subsidy paid for obtaining a contract are wholly recoverable, therefore, such costs are capitalized. The amounts of amortization recognized for the three months ended March 31, 2026 and 2025 were $426,350 thousand and $466,737 thousand, respectively.

36 -

23. NON-OPERATING INCOME AND EXPENSES

a. Other gains and losses, net

	For the Three Months Ended March 31
	2026	2025
Loss on disposal and retirement of property, plant and equipment, net	$(19,127)	$(17,283)
Gain on disposal of property, plant and equipment held for sale	-	1,689
Gain on financial assets at FVTPL, net	20,877	91,543
Gain on financial liabilities at FVTPL	3,000	9,300
Gain on disposal of investments accounted for using equity method	-	17,014
Loss on foreign exchange, net	(9,149)	(7,575)
Others	(125)	(265)
	$(4,524)	$94,423

b. Finance costs

	For the Three Months Ended March 31
	2026	2025
Interest expense
Corporate bonds	$ 124,599	$ 110,404
Bank loans	131,558	153,830
Commercial papers payable	72,429	68,516
Interest on lease liabilities	44,786	35,502
Other financial costs	15,984	15,889
	$ 389,356	$ 384,141

24. INCOME TAX

a. Income tax recognized in profit or loss

	For the Three Months Ended March 31
	2026	2025
Current income tax
Current period	$ 1,090,503	$ 872,314
Prior years’ adjustments	2,996	(13)
	1,093,499	872,301
Deferred income tax
Temporary differences	49,170	(107,452)
Income tax expense	$ 1,142,669	$ 764,849

b. Income tax recognized in other comprehensive income (loss)

	For the Three Months Ended March 31
	2026	2025
Deferred income tax expense (income)
Unrealized gain/loss on financial assets at FVTOCI	$ 12,130	$(39,569)

c. Income tax examinations

The latest years for which the income tax returns of the entities in the Group have been examined by the tax authorities were as follows:

Company	Year
TWM	2022
TCC	2024
WMT	2024
TNH	2024
FSD	2024
TPC	2024
FSNR	2024
TWMFM	2024
TFN	2024
TT&T	2023
TDS	2024
TPIA	2024
TFC	2024 (Exclude 2023)
TID	2024
SFF	2024
TFNM	2023
GFMT	2024
GWMT	2024
WTVB	2023
YJCTV	2023
MCTV	2024
PCTV	2023
UCTV	2023
GCTV	2023
momo	2022
FI	2024
FST	2024
FSL	2024
MFS	2024
Prosperous Living	2024
TST (Dissolved)	2022
Bebe Poshe (Dissolved)	2024

38 -

25. EARNINGS PER SHARE

	For the Three Months Ended March 31, 2026
	Amount After Income Tax	Weighted-average Number of Shares (In Thousands)	EPS (NT$)
Basic EPS
Profit attributable to owners of the parent	$ 4,146,321	3,025,038	$ 1.37
Effect of dilutive potential common stock:
Employees’ compensation	-	5,060
Convertible bonds	40,578	86,176
Diluted EPS
Profit attributable to owners of the parent (adjusted for potential effect of common stock)	$ 4,186,899	3,116,274	$ 1.34
	For the Three Months Ended March 31, 2025
	Amount After Income Tax	Weighted-average Number of Shares (In Thousands)	EPS (NT$)
Basic EPS
Profit attributable to owners of the parent	$ 3,655,199	3,024,510	$ 1.21
Effect of dilutive potential common stock:
Employees’ compensation	-	3,739
Convertible bonds	7,688	32,839
Diluted EPS
Profit attributable to owners of the parent (adjusted for potential effect of common stock)	$ 3,662,887	3,061,088	$ 1.20

Since TWM has the discretion to settle the employees’ compensation by cash or stock, TWM should presume that the entire amount of the compensation will be settled in stock, and the potential stock dilution should be included in the weighted-average number of stock outstanding used in the calculation of diluted EPS, provided there is a dilutive effect. Such dilutive effect of the potential stock needs to be included in the calculation of diluted EPS until employees’ compensation is approved in the following year.

26. CASH FLOW INFORMATION

Changes in liabilities arising from financing activities:

For the Three Months Ended March 31, 2026

	Non-cash Changes
	Opening Balance	Cash Flows	New Leases	Others	Ending Balance
Lease liabilities (including current and non-current portions)	$ 13,286,729	$(1,206,514)	$ 3,223,908	$(26,094)	$ 15,278,029

For the Three Months Ended March 31, 2025

	Opening Balance	Cash Flows	Non-cash Changes
			New Leases	Others	Ending Balance
Lease liabilities (including current and non-current portions)	$ 11,277,196	$(1,156,123)	$ 1,727,850	$(110,103)	$ 11,738,820

27. CAPITAL MANAGEMENT

The Group maintains and manages its capital to meet the minimum paid-in capital required by the competent authority, and to optimize the balance of liabilities and equity in order to maximize stockholders' return. By periodically reviewing and measuring relative cost, risk, and rate of return to ensure profit and to maintain adequate financial ratios, the Group may adopt various financing approaches to balance its capital structure in order to meet the demands for working capital, capital expenditures, settlements of liabilities, and dividend payments in its normal course of business for the future.

28. FINANCIAL INSTRUMENTS

a. Categories of financial instruments

	March 31, 2026	December 31, 2025	March 31, 2025
Financial assets
Financial assets at FVTPL (including current and non-current portions) (Note 1)	$ 1,735,245	$ 1,718,470	$ 2,100,565
Financial assets at FVTOCI (including current and non-current portions)	4,465,840	4,189,521	4,233,679
Financial assets measured at amortized cost (including current and non-current portions) (Note 2)	27,303,487	26,188,812	28,186,252
	$ 33,504,572	$ 32,096,803	$ 34,520,496
Financial liabilities
Financial liabilities measured at amortized cost (including current and non-current portions) (Note 3)	$ 105,610,260	$ 112,451,796	$ 111,861,033
Financial liabilities at FVTPL - non-current	56,658	59,658	62,558
	$ 105,666,918	$ 112,511,454	$ 111,923,591

Note 1: Financial assets mandatorily measured at FVTPL.
Note 2: The balances comprised cash and cash equivalents, financial assets at amortized cost, notes and accounts receivable, other receivables, other financial assets and refundable deposits, which were financial assets measured at amortized cost.
Note 3: The balances comprised long-term and short-term borrowings, commercial papers payable, notes and accounts payable, other payables, other financial liabilities (classified as other current liabilities), bonds payable and guarantee deposits, which were financial liabilities measured at amortized cost.

b. Fair value of financial instruments

1) Financial instruments not measured at fair value

Except for the table below, the Group considers that the carrying amount of financial assets and liabilities that are not at fair value is close to the fair value, or the fair value cannot be reliably measured.

	March 31, 2026		December 31, 2025		March 31, 2025
	Carrying Amount	Fair Value	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Financial liabilities
Bonds payable (including current portion)	$ 38,969,251	$ 39,630,324	$ 38,924,358	$ 39,581,963	$ 44,092,712	$ 44,939,057

The fair value of bonds payable is measured by Level 2 inputs, using a volume-weighted average price on the TPEx at reporting date.

2) Fair value of financial instruments that are measured at fair value on a recurring basis

The table below provides the related analysis of financial instruments at fair value after initial recognition. Based on the extent that fair value can be observed, the fair value measurements are grouped into Levels 1 to 3:

a) Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities on the reporting date.
b) Level 2: Inputs other than quoted prices included within Level 1 are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
c) Level 3: Inputs for the assets or liabilities are not based on observable market data (unobservable inputs).

March 31, 2026

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Domestic unlisted stocks	$ -	$ -	$ 303,583	$ 303,583
Domestic limited partnerships	-	-	36,853	36,853
Foreign listed stocks	5,772	-	-	5,772
Foreign unlisted stocks	-	-	67,168	67,168
Foreign limited partnerships	-	-	1,064,558	1,064,558
Foreign convertible notes	-	-	217,792	217,792
Other investment agreement	-	-	39,519	39,519
	$ 5,772	$ -	$ 1,729,473	$ 1,735,245

	Level 1	Level 2	Level 3	Total
Financial assets at FVTOCI
Equity instruments
Domestic listed stocks	$ 829,742	$ -	$ -	$ 829,742
Domestic unlisted stocks	-	-	1,311,592	1,311,592
Foreign listed stocks	137	-	-	137
Foreign unlisted stocks	-	-	2,324,369	2,324,369
	$ 829,879	$ -	$ 3,635,961	$ 4,465,840
Financial liabilities at FVTPL
	$ -	$ 56,658	$ -	$ 56,658
December 31, 2025
	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Domestic unlisted stocks	$ -	$ -	$ 303,583	$ 303,583
Domestic limited partnerships	-	-	36,882	36,882
Foreign listed stocks	7,931	-	-	7,931
Foreign unlisted stocks	-	-	67,833	67,833
Foreign limited partnerships	-	-	1,034,454	1,034,454
Foreign convertible notes	-	-	209,334	209,334
Embedded rights	-	-	19,945	19,945
Other investment agreement	-	-	38,508	38,508
	$ 7,931	$ -	$ 1,710,539	$ 1,718,470
Financial assets at FVTOCI
Equity instruments
Domestic listed stocks	$ 574,371	$ -	$ -	$ 574,371
Domestic unlisted stocks	-	-	1,352,256	1,352,256
Foreign listed stocks	115	-	-	115
Foreign unlisted stocks	-	-	2,262,779	2,262,779
	$ 574,486	$ -	$ 3,615,035	$ 4,189,521
Financial liabilities at FVTPL
	$ -	$ 59,658	$ -	$ 59,658

March 31, 2025

	Level 1	Level 2	Level 3	Total
Financial assets at FVTPL
Domestic unlisted stocks	$ -	$ -	$ 287,500	$ 287,500
Domestic limited partnerships	-	-	37,022	37,022
Foreign listed stocks	6,050	-	-	6,050
Foreign unlisted stocks	-	-	85,497	85,497
Foreign limited partnerships	-	-	955,173	955,173
Foreign convertible notes	-	-	676,697	676,697
Embedded rights	-	-	21,399	21,399
Other investment agreement	-	-	31,227	31,227
	$ 6,050	$ -	$ 2,094,515	$ 2,100,565
Financial assets at FVTOCI
Equity instruments
Domestic listed stocks	$ 606,026	$ -	$ -	$ 606,026
Domestic unlisted stocks	-	-	1,142,673	1,142,673
Foreign listed stocks	167	-	-	167
Foreign unlisted stocks	-	-	2,484,813	2,484,813
	$ 606,193	$ -	$ 3,627,486	$ 4,233,679
Financial liabilities at FVTPL
	$ -	$ 62,558	$ -	$ 62,558

There were no transfers between the fair value measurements of Levels 1 and 2 for the three months ended March 31, 2026 and 2025.

Valuation techniques and assumptions used in fair value determination

a) The fair value of financial instruments traded in active markets is based on quoted market prices (including stocks of publicly traded companies).

b) Valuation techniques and inputs applied for Level 2 fair value measurement:

Call and put options of convertible bonds that adopted binomial tree valuation model were evaluated by the observable closing price of the stocks, volatility, risk-free interest rate, risk discount rate, and liquidity risk at the balance sheet date.

c) Valuation techniques and inputs applied for Level 3 fair value measurement:

The evaluations of fair value of unlisted stocks and convertible notes were mainly referenced to the valuation of the same type of companies or the transaction prices of recent financing activities and estimated free cash flows through the market approach, income approach and asset approach. The unobservable inputs were the liquidity discount rate and the stock price volatility. The liquidity discount rates were ranged from 6.5%~38.48%, 11.8%~30.6% and 11.7%~29.5% as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The stock price volatilities were ranged from 42%~68.7%, 37.9%~74.6% and 42.8%~79.5% as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

The fair value of limited partnerships investments was evaluated through the income approach and asset approach. The evaluation and assumptions were mainly referenced to estimated future cash flows and related financial information of the companies.

3) Reconciliation of Level 3 fair value measurements of financial instruments

For the Three Months Ended March 31, 2026

	Financial Assets at FVTPL - Financial Instruments	Financial Assets at FVTOCI - Equity Instruments
Balance, January 1, 2026	$ 1,710,539	$ 3,615,035
Additions	3,267	-
Reclassification	( 7,387)	-
Decrease	-	( 61,628)
Recognized in profit or loss (gain on financial assets at FVTPL)	23,054	-
Recognized in other comprehensive income (unrealized gain on financial assets at FVTOCI)	-	82,554
Balance, March 31, 2026	$ 1,729,473	$ 3,635,961

For the Three Months Ended March 31, 2025

	Financial Assets at FVTPL - Financial Instruments	Financial Assets at FVTOCI - Equity Instruments
Balance, January 1, 2025	$ 1,989,597	$ 3,791,726
Additions	15,847	-
Reclassification	-	48,632
Decrease	( 3,169)	-
Recognized in profit or loss (gain on financial assets at FVTPL)	92,240	-
Recognized in other comprehensive income (unrealized loss on financial assets at FVTOCI)	-	( 212,872)
Balance, March 31, 2025	$ 2,094,515	$ 3,627,486

c. Financial risk management

The Group's major financial instruments include equity investments, hybrid investments, trade receivables, trade payables, commercial papers payable, bonds payable, borrowings, lease liabilities, etc., and the Group is exposed to the credit risk, liquidity risk, market risk due to usage of financial instruments. The Group managed its exposure to the relevant risks with the objective to reduce the potentially adverse effects the market uncertainties may have on its financial performance.

The plans for material treasury activities are reviewed by the Board of Directors, Audit and Risk Management Committee and the management executives in accordance with procedures by risk management policies, relevant regulations or internal controls. Should any major issue arise, the Group must comply with procedures that provide guiding principles for overall financial risk management and segregation of duties.

44 -

1) Credit risk

Credit risk refers to the risk that a counterparty would default on its contractual obligations, resulting in a financial loss to the Group. The maximum credit exposure of the aforementioned financial instruments is equal to their carrying amounts recognized in the consolidated balance sheets as of the balance sheet date. The Group has large trade receivables outstanding with its customers. A substantial majority of the Group’s outstanding trade receivables are not covered by collateral or credit insurance. The Group has implemented ongoing measures including enhancing credit assessments and strengthening overall risk management to reduce its credit risk. While the Group has procedures to monitor and limit exposure to credit risk on trade receivables, there can be no assurance such procedures will effectively limit its credit risk and avoid losses. This risk is heightened during periods when economic conditions worsen.

As the Group serves a large number of unrelated consumers, the concentration of credit risk was limited.

2) Liquidity risk

Liquidity risk is the risk that the Group fails to meet the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s approach to manage liquidity is to ensure, as far as possible, that it always has sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable loss or damage to the Group’s reputation.

The Group manages and maintains a sufficient level of capital to ensure the requirements of paying estimated operating expenditures, including financial obligations on each contract. The Group also monitors its bank credit facilities to ensure that the Group fully complies with the provisions and financial covenants of loan contracts. As of March 31, 2026, December 31, 2025 and March 31, 2025, the Group had unused bank facilities of $67,627,592 thousand, $69,154,041 thousand and $64,861,978 thousand, respectively.

The table below summarizes the maturity profile of the Group’s financial liabilities based on contractual undiscounted payments, but not including the financial liabilities whose carrying amounts approximate contractual cash flows:

	Contractual Cash Flows	Within 1 Year	1-5 Years	5-10 Years
March 31, 2026
Unsecured loans	$ 25,195,328	$ 13,165,584	$ 12,029,744	$ -
Secured loans	1,513,085	144,081	1,369,004	-
Commercial papers payable	15,851,767	9,277,404	6,574,363	-
Bonds payable	40,752,165	10,323,255	30,428,910	-
Lease liabilities	15,689,844	4,528,346	8,393,824	2,767,674
Other non-current liabilities	146,250	73,125	73,125	-
	$ 99,148,439	$ 37,511,795	$ 58,868,970	$ 2,767,674

	Contractual Cash Flows	Within 1 Year	1-5 Years	5-10 Years
December 31, 2025
Unsecured loans	$ 25,063,276	$ 12,978,323	$ 12,084,953	$ -
Secured loans	1,549,519	144,744	1,404,775	-
Commercial papers payable	18,734,559	9,107,033	9,627,526	-
Bonds payable	40,854,165	323,255	40,530,910	-
Lease liabilities	13,635,461	4,322,227	7,597,575	1,715,659
Other non-current liabilities	219,375	73,125	146,250	-
	$ 100,056,355	$ 26,948,707	$ 71,391,989	$ 1,715,659
March 31, 2025
Unsecured loans	$ 27,919,998	$ 14,152,035	$ 13,767,963	$ -
Secured loans	1,739,791	165,720	621,414	952,657
Commercial papers payable	14,802,805	3,010,288	11,792,517	-
Bonds payable	46,043,620	9,342,955	36,700,665	-
Lease liabilities	11,997,067	4,153,850	7,143,624	699,593
Other non-current liabilities	219,375	73,125	146,250	-
	$ 102,722,656	$ 30,897,973	$ 70,172,433	$ 1,652,250

3) Market risk

Market risk is the risk that arises from the changes in foreign exchange rates, interest rates, and prices, and will affect the Group's income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within an acceptable range and to optimize the return.

The Group carefully evaluates each financial instrument transaction involving any risk such as exchange rate risk, interest rate risk, and market price risk in order to decrease potential influences caused by market uncertainty.

a) Exchange rate risk

The Group mainly operates in Taiwan, except for international roaming services. Most of the operating revenue and expenses are measured in NTD. A small portion of the expenses is paid in USD, EUR, etc.; thus, the Group purchases currency at the spot rate based on the conservative principle in order to hedge exchange rate risk.

Refer to Note 33 for the information of the Group's foreign currency assets and liabilities exposed to significant exchange rate risk.

Sensitivity analysis

The Group's exchange rate risk comes mainly from conversion gains and losses of accounts denominated in monetary items of foreign currencies. If there had been an unfavorable $5\%$ movement in the levels of foreign exchanges against NTD at the end of the reporting period (with other factors remaining constant at the end of the reporting period and with analyses of the two periods on the same basis), profit would have decreased by $\$234$ thousand and increased by $\$2,162$ thousand for the three months ended March 31, 2026 and 2025, respectively.

b) Interest rate risk

The entities within the Group were funded using both fixed and floating interest rates, resulting in exposure to interest rate risk. To mitigate the impact of interest rate fluctuations, the Group maintains a balanced mix of fixed and floating interest rates borrowings.

The carrying amounts of the Group’s financial assets and financial liabilities exposed to interest rate risk were as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Fair value interest rate risk
Financial assets	$ 4,845,880	$ 4,020,767	$ 6,146,480
Financial liabilities	55,484,585	56,075,342	54,288,551
Cash flow interest rate risk
Financial assets	8,511,027	8,107,194	8,884,859
Financial liabilities	31,778,910	31,902,491	36,124,660

Sensitivity analysis

The following sensitivity analysis is based on the exposure to interest rate risk of derivative and non-derivative instruments at the end of the reporting period. For floating-rate assets and liabilities, the analysis assumes that the balances of outstanding assets and liabilities at the end of the reporting period have been outstanding for the whole period and that the changes in interest rates are reasonable. If the interest rate had increased by 50 basis points (with other factors remaining constant at the end of the reporting period and with analyses of the two periods on the same basis), profit would have decreased by $29,085 thousand and $34,050 thousand for the three months ended March 31, 2026 and 2025, respectively.

c) Other market price risk

The exposure to financial instrument price risk is mainly due to holding of stocks. The Group manages the risk by maintaining portfolios of investments with different risks and by continuously monitoring the future developments and market trends of investment targets.

Sensitivity analysis

If the prices of financial instruments had decreased by 5% (with other factors remaining constant and with the analyses of the two periods on the same basis), net income would have decreased by $86,762 thousand and $105,028 thousand since the fair value of financial assets at FVTPL decreased for the three months ended March 31, 2026 and 2025, respectively. Other comprehensive income would have decreased by $223,292 thousand and $211,684 thousand since the fair value of financial assets at FVTOCI decreased for the three months ended March 31, 2026 and 2025, respectively.

46 -

47 -

29. RELATED-PARTY TRANSACTIONS

a. Parent company and ultimate controlling party

TWM is the ultimate controlling party of the Group.

b. Related party name and nature of relationship

Related Party	Nature of Relationship
SYSTEX	Associate
AppWorks	Associate
AppWorks Fund III	Associate
AppWorks Fund IV	Associate
Uspace	Associate
NADA	Associate
Tropics	Associate
Fubon Green Power	Associate
Bronci	Associate
GHS	Associate
kbro Media	Associate
M.E.	Associate
SK Biomedical	Associate
Concord System Management Corporation	Associate (subsidiary of SYSTEX)
Systex Software & Service Corporation	Associate (subsidiary of SYSTEX)
Taifon Computer Co., Ltd.	Associate (subsidiary of SYSTEX)
Syspower Corporation	Associate (subsidiary of SYSTEX)
Systex Fintech Corporation	Associate (subsidiary of SYSTEX)
Systex Solutions Corporation	Associate (subsidiary of SYSTEX)
E-Service Information Corporation	Associate (subsidiary of SYSTEX)
Taiwan Information Service Technology Corporation	Associate (subsidiary of SYSTEX)
UniXecure Technology Corporation	Associate (subsidiary of SYSTEX)
Docutek Solutions, Inc.	Associate (subsidiary of SYSTEX)
SoftMobile Technology Corporation	Associate (subsidiary of SYSTEX)
Top Information Technologies Corporation	Associate (subsidiary of SYSTEX)
Dawning Technology Inc.	Associate (subsidiary of SYSTEX)
Palsys Digital Technology Corporation	Associate (subsidiary of SYSTEX)
Caresys Information, Inc.	Associate (subsidiary of SYSTEX)
AppWorks School Co., Ltd.	Associate (subsidiary of AppWorks)
Shoei Contents Corporation	Associate (subsidiary of NADA)
WeMo Corp.	Associate (subsidiary of WeMo)
WeMo TW	Associate (subsidiary of WeMo)
Mepay Co., Ltd.	Associate (subsidiary of M.E.)
EnVision Concept Co., Ltd.	Associate (subsidiary of M.E.)
Fubon Life Insurance Co., Ltd. (Fubon Life)	Other related party

Related Party	Nature of Relationship
Fubon Insurance Co., Ltd. (Fubon Insurance)	Other related party
Fubon Asset Management Co., Ltd.	Other related party
Fubon Sports & Entertainment Co., Ltd.	Other related party
Taipei Fubon Commercial Bank Co., Ltd. (TFCB)	Other related party
Fubon Financial Holding Co., Ltd.	Other related party
Fubon Life Insurance (HK) Ltd.	Other related party
Fubon Securities Co., Ltd. (Fubon Securities)	Other related party
Fubon Futures Co., Ltd.	Other related party
Fubon Securities Investment Services Co., Ltd.	Other related party
Fubon Securities Venture Capital Co., Ltd.	Other related party
Fubon Insurance Agency Co., Ltd.	Other related party
Fubon Financial Holding Venture Capital Co., Ltd.	Other related party
Fubon Stadium Co., Ltd.	Other related party
Fubon AMC, Ltd.	Other related party
Fubon Bank (Hong Kong) Limited	Other related party
Fubon Bank (China) Co., Ltd.	Other related party
Fubon Land Development Co., Ltd.	Other related party
Fubon Property Management Co., Ltd.	Other related party
Fubon Security Service Co., Ltd.	Other related party
Fubon Real Estate Management Co., Ltd.	Other related party
Fubon Hospitality Management Co., Ltd.	Other related party
Fubon Private Equity Co., Ltd.	Other related party
TFB Capital Co., Ltd.	Other related party
Chung Hsing Constructions Co., Ltd.	Other related party
Ming Dong Co., Ltd.	Other related party
Precision Health Inc.	Other related party
Harvard Health Inc.	Other related party (not a related party since the fourth quarter of 2025)
Fubon Xinji Investment Co., Ltd.	Other related party
Hung Fu Investment Co., Ltd	Other related party
Cho Pharma Inc.	Other related party
Everbright Biofund	Other related party
Dawin Creative Co., Ltd.	Other related party
AppWorks Ventures III Limited	Other related party
Chen Yun Co., Ltd.	Other related party
NTU Alumni Ventures Co., Ltd.	Other related party
Chen Feng Investment Limited	Other related party
Dai-Ka Ltd.	Other related party
kbro Co., Ltd. (kbro)	Other related party
Daanwenshan CATV Co., Ltd.	Other related party

49 -

Related Party	Nature of Relationship
North Taoyuan CATV Co., Ltd.	Other related party
Yangmingshan CATV Co., Ltd.	Other related party
Hsin Taipei CATV Co., Ltd.	Other related party
Chinpingtao CATV Co., Ltd.	Other related party
Hsintangcheng CATV Co., Ltd.	Other related party
Chuanlien CATV Co., Ltd.	Other related party
Chen Tao Cable TV Co., Ltd.	Other related party
Fengmeng Cable TV Co., Ltd.	Other related party
Hsinpingtao CATV Co., Ltd.	Other related party
Kuansheng CATV Co., Ltd.	Other related party
Nantien CATV Co., Ltd.	Other related party
Taiwan Mobile Foundation (TMF)	Other related party
Taipei New Horizon Foundation (TNHF)	Other related party
Fubon Cultural & Educational Foundation	Other related party
Fubon Charity Foundation	Other related party
Fubon Art Foundation	Other related party
Fubon Life Art Museum Foundation	Other related party
Taipei Fubon Bank Charity Foundation	Other related party
Taipei New Horizon Management Agency	Other related party
Key management	Chairman, director, president, vice president, etc.

c. Significant transactions with related parties

1) Operating revenue

For the Three Months Ended March 31
	2026	2025
Associates	$ 18,315	$ 21,679
Other related parties	414,156	397,038
	$ 432,471	$ 418,717

The Group renders telecommunications, sales, maintenance, lease services, etc., to the related parties. The transaction terms with related parties were not significantly different from those with third parties.

2) Purchases

For the Three Months Ended March 31
	2026	2025
Associates	$ 111,398	$ 82,873
Other related parties	247,218	241,667
	$ 358,616	$ 324,540

The entities mentioned above provide broadband, purchases, copyright, broadcast, and other services. The transaction terms with related parties were not significantly different from those with third parties.

3) Receivables due from related parties

Account	Related Party Categories	March 31, 2026	December 31, 2025	March 31, 2025
Notes and accounts receivable	Associates	$ 7,551	$ 5,664	$ 4,726
Notes and accounts receivable	Other related parties	420,713	407,295	416,626
		$ 428,264	$ 412,959	$ 421,352
Other receivables	Other related parties	$ 409,491	$ 249,638	$ 208,331

Receivables from related parties mentioned above were not secured with collateral, and no provisions for impairment loss were accrued.

4) Payables due to related parties

Account	Related Party Categories	March 31, 2026	December 31, 2025	March 31, 2025
Notes and accounts payable	Associates	$ 45,605	$ 33,388	$ 35,653
Notes and accounts payable	Other related parties	221,990	229,769	224,638
		$ 267,595	$ 263,157	$ 260,291
Other payables	Associates	$ 32,767	$ 31,681	$ 26,120
Other payables	Other related parties	131,190	99,501	96,706
		$ 163,957	$ 131,182	$ 122,826

5) Prepayments

	March 31, 2026	December 31, 2025	March 31, 2025
Associates	$ -	$ 17,212	$ -
Other related parties	45,743	28,436	101,787
	$ 45,743	$ 45,648	$ 101,787

6) Bank deposits, time deposits and other financial assets (including current and non-current portions)

	March 31, 2026	December 31, 2025	March 31, 2025
Other related parties
TFCB	$ 3,256,815	$ 3,426,936	$ 3,170,167

7) Acquisition of investments accounted for using equity method

Related Party Transaction	Transaction Period	Shares (In Thousands)	Purchase Price
Participation in AppWorks Fund IV’s capital increase	The first quarter of 2026	-	$ 6,230
Contributions to NADA’s capital increase	The first quarter of 2026	600	30,000
			$ 36,230
Participation in AppWorks Fund IV’s capital increase	The first quarter of 2025	-	$ 31,150
Contributions to Tropics’s capital increase	The first quarter of 2025	4,400	44,000
			$ 75,150

8) Others

a) Refundable deposits

	March 31, 2026	December 31, 2025	March 31, 2025
Other related parties
Fubon Life	$ 370,281	$ 369,891	$ 65,058

b) Other current liabilities - receipts under custody

	March 31, 2026	December 31, 2025	March 31, 2025
Other related parties	$ 207,778	$ 192,730	$ 195,055

c) Operating expenses

	For the Three Months Ended March 31
	2026	2025
Associates	$ 21,776	$ 5,824
Other related parties
TMF	-	5,000
TNHF	3,000	3,000
TFCB	208,108	210,589
Others	35,982	30,330
	$ 268,866	$ 254,743

d) mo-coin transactions

Subsidiary moms sold mo-coins to related parties amounting to $250,383 thousand and $257,839 thousand for the three months ended March 31, 2026 and 2025, respectively, mainly to provide rewards to users (consumers).

9) Lease arrangements

Acquisition of right-of-use assets

	For the Three Months Ended March 31
	2026	2025
Other related parties	$ 2,214	$ 112,024

Lease liabilities (including current and non-current portions)

	March 31, 2026	December 31, 2025	March 31, 2025
Other related parties	$ 527,009	$ 580,748	$ 754,278

The leases are conducted by referring to general market prices, and all the terms and conditions conform to normal business practices.

d. Key management compensation

The amounts of remuneration of directors and key executives were as follows:

	For the Three Months Ended March 31
	2026	2025
Short-term employee benefits	$ 101,642	$ 94,881
Termination and post-employment benefits	978	933
	$ 102,620	$ 95,814

ASSETS PLEDGED

The assets pledged as collateral for bank loans, purchases, performance bonds and lawsuits were as follows:

	March 31, 2026	December 31, 2025	March 31, 2025
Other current financial assets	$ 136,534	$ 134,794	$ 110,498
Service concessions	5,853,058	5,897,738	6,031,777
Other non-current financial assets	379,093	377,999	382,617
	$ 6,368,685	$ 6,410,531	$ 6,524,892

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

a. Unrecognized commitments

	March 31, 2026	December 31, 2025	March 31, 2025
Purchases of property, plant and equipment	$ 7,748,796	$ 8,318,514	$ 8,713,810
Purchases of inventories and sales commitments	$ 11,388,798	$ 9,213,397	$ 6,126,815

As of March 31, 2026, December 31, 2025 and March 31, 2025, the amounts of lease commitments (the Group as a lessee) commencing after the balance sheet dates were $16,437,482 thousand, $18,799,494 thousand and $326,476 thousand, respectively.

As of March 31, 2026, December 31, 2025 and March 31, 2025, the amount of lease commitments (the Group as a lessor) commencing after the balance sheet dates were $102,071 thousand, $104,606 thousand and $105,365 thousand, respectively.

b. As of March 31, 2026, December 31, 2025 and March 31, 2025, the amounts of endorsements and guarantees provided to entities in the Group were all $21,700,000 thousand, respectively.

c. The Group entered into a long-term power purchase agreement with a wind power company. The relative fulfillment period, quantity and price are specified in the agreements.

d. The Group provided collection and payment services to contracted parties, guaranteed through an escrow arrangement. As of March 31, 2026, December 31, 2025 and March 31, 2025, the balances of the trust account held with financial institution were $687,280 thousand, $801,397 thousand and $475,474 thousand, respectively.

e. On January 15, 2009, subsidiary TNH signed the BOT contract with the Department of Cultural Affairs of Taipei City Government. The primary terms of the contract are summarized as follows:

1) Construction and operating period:

The construction and operating period are 50 years from the day following the signing of the contract.

2) Development concession:

The total initial amount of concession was $1,238,095 thousand (tax excluded). According to the supplemental agreement signed in November 2014, the concession would be paid with additional business tax from the signing date of the supplemental agreement; thus, the concession was increased by $48,750 thousand. The rest of the concession will be paid over 14 years from fiscal year 2015. As of March 31, 2026, $1,197,625 thousand (tax included) of the concession had been paid.

f. In August 2015, Far EasTone Telecommunications Co., Ltd. (FET) filed a statement of civil complaint with the Taipei District Court, in which FET claimed that (i) TWM shall apply for the return of the C4 spectrum block; (ii) TWM shall not use the C4 spectrum block; (iii) TWM shall not use the C1 spectrum block until TWM’s application for the return of the C4 spectrum block is approved by the NCC; and (iv) TWM shall provide $1,005,800 thousand to FET as compensation. In May 2016, the Court decided in favor of FET regarding claims (i), (ii), and (iii) of the lawsuit, and against FET regarding claim (iv) of the lawsuit. TWM and FET appealed with the High Court the reversal of the aforementioned sentences. The High Court dismissed the appeal of TWM regarding claims (i), (ii), and (iii), and regarding claim (iv) of FET, TWM shall pay FET $765,779 thousand, of which $152,584 thousand of the above amount, TWM shall make 5% annual interest payment for the period starting from September 5, 2015 to the

53 -

payment date. TWM and FET appealed the reversal of the aforementioned sentences. In May 2019, the Supreme Court dismissed the portion of the High Court's original judgment on other appeal of FET regarding, and dismissed TWM's payment obligation, and the Supreme Court remanded the case to the High Court. Under the first retrial of the High Court, TWM filed a counterclaim requesting that FET pay $14,482 thousand, as well as a 5% annual interest payment for the period starting from the date following the service of the counterclaim until the settlement date. In August 2020, the High Court first retrial results were as follows: for the dismissed claim (iv) stated above, TWM shall pay FET $242,154 thousand of which $142,685 thousand shall have 5% annual interest for the period starting from September 30, 2016 to the payment date, and $99,469 thousand shall have 5% annual interest for the period starting from July 21, 2017 to the payment date. TWM's counterclaim was denied. TWM and FET appealed the aforementioned sentences which were not favorable to them. In June 2023, the Supreme Court dismissed the first retrial of the High Court and remanded the case to the High Court. In December 2024, the High Court second retrial results were as follows: for the dismissed claim (iv) stated above, TWM shall pay FET $720,916 thousand with 5% annual interest for the period starting from September 5, 2015 to the payment date. TWM's counterclaim was denied. TWM and FET have respectively appealed the aforementioned sentences which were not favorable to them. In December 2025, the Supreme Court dismissed the second retrial of the High Court and remanded the case to the High Court.

32. OTHERS

Employee benefits, depreciation, and amortization are summarized as follows:

	For the Three Months Ended March 31
	2026			2025
	Classified as Operating Costs	Classified as Operating Expenses	Total	Classified as Operating Costs	Classified as Operating Expenses	Total
Employee benefits
Salary	$ 747,913	$ 1,881,612	$ 2,629,525	$ 770,826	$ 1,780,493	$ 2,551,319
Insurance expenses	75,852	170,353	246,205	78,720	165,402	244,122
Pension	35,443	80,740	116,183	36,429	76,602	113,031
Others	41,697	95,876	137,573	43,156	93,142	136,298
Depreciation	3,525,014	234,166	3,759,180	3,532,619	224,159	3,756,778
Amortization	1,593,952	494,361	2,088,313	1,588,103	526,654	2,114,757

Information of employees' compensation and remuneration of directors

According to the Company's Articles of Incorporation, the estimated employees' compensation and remuneration of directors are set at the rates of 1% to 3% and no higher than 0.3%, respectively, of profit before income tax, employees' compensation, remuneration of directors, and amounts reserved in advance, with at least 50% of employees' compensation to be allocated to non-executive employees. Estimations for employees' compensation were $145,951 thousand and $127,410 thousand, and remuneration to directors were $14,595 thousand and $12,741 thousand, which were calculated by applying the aforementioned rates, for the three months ended March 31, 2026 and 2025, respectively.

The employees' compensation and remuneration of directors of 2025 and 2024 shown below were approved by the Board of Directors on March 13, 2026 and February 27, 2025, respectively. There was no difference between the approved amounts and the amounts recognized.

55 -

	For the Year Ended December 31
	2025		2024
	Employees' Compensation Paid in Cash	Remuneration of Directors	Employees' Compensation Paid in Cash	Remuneration of Directors
Amounts approved by the Board of Directors	$ 500,071	$ 50,007	$ 473,986	$ 47,399
Amounts recognized in the consolidated financial statements	$ 500,071	$ 50,007	$ 473,986	$ 47,399

If there is a change in the approved amounts after the annual consolidated financial statements are authorized for issue, the difference is recorded as a change in accounting estimate in the next year.

Information on the employees' compensation and remuneration of directors approved by the Board of Directors is available at the Market Observation Post System website of the Taiwan Stock Exchange.

33. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

The Group’s significant assets and liabilities denominated in foreign currencies were as follows:

	March 31, 2026
	Foreign Currencies	Exchange Rate	New Taiwan Dollars
Foreign currency assets
Monetary items
USD	$ 58,703	32	$ 1,878,510
EUR	167	36.8	6,161
RMB	5,703	4.625	26,374
Non-monetary items
USD	209,467	32	6,702,946
SGD	232	24.83	5,772
JPY	312,423	0.2	62,578
Foreign currency liabilities
Monetary items
USD	59,317	32	1,898,130
EUR	179	36.8	6,573
JPY	8,272	0.2	1,657

	December 31, 2025
	Foreign Currencies	Exchange Rate	New Taiwan Dollars
Foreign currency assets
Monetary items
USD	$55,795	31.375	$1,750,582
EUR	163	36.94	6,008
RMB	9,820	4.491	44,103
Non-monetary items
USD	112,446	31.375	3,528,002
SGD	324	24.44	7,931
JPY	300,629	0.201	60,517
Foreign currency liabilities
Monetary items
USD	60,140	31.375	1,886,891
EUR	171	36.94	6,330
JPY	8,022	0.201	1,615
	March 31, 2025
	Foreign Currencies	Exchange Rate	New Taiwan Dollars
Foreign currency assets
Monetary items
USD	$50,747	33.1	$1,679,679
EUR	737	35.72	26,323
RMB	15,438	4.552	70,274
JPY	47,176	0.22	10,383
Non-monetary items
USD	125,486	33.1	4,153,601
RMB	70,505	4.552	320,940
SGD	245	24.7	6,050
JPY	300,000	0.22	66,030
Foreign currency liabilities
Monetary items
USD	55,151	33.1	1,825,497
EUR	90	35.72	3,203
JPY	5,403	0.22	1,189

Refer to Note 23.a for the information related to the Group’s realized and unrealized foreign exchange gains (losses) for the three months ended March 31, 2026 and 2025. Due to the variety of foreign currency transactions and functional currencies, the Group could not disclose the foreign exchange gains (losses) for each foreign currency with significant influence.

34. ADDITIONAL DISCLOSURES

a. Information on significant transactions and b. Information on investees:

1) Financing extended to other parties: Table 1 (attached)
2) Endorsements/guarantees provided to other parties: Table 2 (attached)
3) Significant marketable securities held (excluding investments in subsidiaries and associates): Table 3 (attached)
4) Total purchases from or sales to related parties of at least NT$100 million or 20% of the paid-in capital: Table 4 (attached)
5) Receivables from related parties of at least NT$100 million or 20% of the paid-in capital: Table 5 (attached)
6) Names, locations and related information of investees on which TWM exercised significant influence (excluding information on investments in mainland China): Table 6 (attached)
7) Business relationships between the parent and the subsidiaries and significant intercompany transactions: Table 7 (attached)

c. Information on investments in mainland China:

1) The names of investees in mainland China, the main businesses and products, issued capital, method of investment, information on inflow or outflow of capital, ownership, net income or loss and recognized investment gain or loss, ending balance, amount received as earnings distributions from the investment, and limitation on investment: Table 8 (attached)
2) Significant direct or indirect transactions with the investee companies, the prices and terms of payment, unrealized gain or loss, and other related information, which is helpful to understand the impact of investment in mainland China on financial reports: None

35. SEGMENT INFORMATION

a. Segment revenue and operating results

The Group divides its business into four reportable segments with different market attributes and operation modes. The four segments are described as follows:

Telecommunications: providing mobile communication services, mobile phone sales, fixed-line services, etc.

Retail: providing E-commerce shopping, multimedia shopping, etc.

Cable television and broadband: providing pay TV, cable broadband services, etc.

Others: business other than telecommunications, retail, cable television, broadband, etc.

57 -

58 -

For the Three Months Ended March 31, 2026	Telecommunications	Retail	Cable Television and Broadband	Others	Adjustments and Eliminations	Total
Revenue
Revenue from external customers	$ 21,634,447	$ 26,400,846	$ 1,606,642	$ 136,368	$ -	$ 49,778,303
Inter-segment revenue	1,124,163	192,620	99,402	36,340	( 1,452,525)	-
Operating revenue	$ 22,758,610	$ 26,593,466	$ 1,706,044	$ 172,708	$( 1,452,525)	$ 49,778,303
Operating income	$ 4,527,242	$ 788,497	$ 580,124	$ 76,092	$( 39,209)	$ 5,932,746
Other segment information related to profit or loss
Depreciation and amortization	$ 4,853,205	$ 337,194	$ 211,164	$ 45,048	$( 25,468)	$ 5,421,143
Finance costs	369,696	6,203	817	14,581	( 1,941)	389,356
For the Three Months Ended March 31, 2025	Telecommunications	Retail	Cable Television and Broadband	Others	Adjustments and Eliminations	Total
Revenue
Revenue from external customers	$ 20,522,977	$ 26,141,753	$ 1,381,639	$ 120,984	$ -	$ 48,167,353
Inter-segment revenue	990,522	263,403	91,136	35,796	( 1,380,857)	-
Operating revenue	$ 21,513,499	$ 26,405,156	$ 1,472,775	$ 156,780	$( 1,380,857)	$ 48,167,353
Operating income	$ 3,772,288	$ 785,990	$ 574,411	$ 60,246	$( 43,377)	$ 5,149,558
Other segment information related to profit or loss
Depreciation and amortization	$ 4,819,604	$ 350,832	$ 212,326	$ 45,175	$( 23,139)	$ 5,404,798
Finance costs	362,148	8,194	1,144	15,567	( 2,912)	384,141

b. Geographical information

The Group’s revenue is generated mostly from domestic business. Overseas revenue is primarily generated from international calls and data services.

Consolidated geographic information for revenue was as follows:

For the Three Months Ended March 31
2026	2025
$ 48,991,715	$ 47,360,469
786,588	806,884
$ 49,778,303	$ 48,167,353

TABLE 1

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

FINANCING EXTENDED TO OTHER PARTIES

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

No.	Lending Company	Borrowing Company	Financial Statement Account	Related Parties	Maximum Balance for the Period (Note 1)	Ending Balance (Note 1)	Drawdown Amounts	Interest Rate	Nature of Financing	Transaction Amounts	Reasons for Short-term Financing	Allowance for Impairment Loss	Collateral		Lending Limit for Each Borrowing Company	Lending Company's Lending Amount Limits	Note
													Item	Value
1	TCC	TWM	Other receivables	Yes	$ 6,500,000	$ 6,500,000	$ 1,006,000	2.01000%	Short-term financing	$ -	Operation requirements	$ -	-	$ -	$ 38,650,610	$ 38,650,610	Note 2
		FSD	Other receivables	Yes	100,000	100,000	80,000	2.01000%-2.01022%	Short-term financing	-	Operation requirements	-	-	-	38,650,610	38,650,610	Note 2
		FSNR	Other receivables	Yes	100,000	100,000	90,000	2.01000%	Short-term financing	-	Operation requirements	-	-	-	38,650,610	38,650,610	Note 2
		TFC	Other receivables	Yes	300,000	300,000	-	-	Short-term financing	-	Operation requirements	-	-	-	38,650,610	38,650,610	Note 2
2	WMT	TWM	Other receivables	Yes	5,300,000	5,300,000	5,273,000	2.01000%	Short-term financing	-	Operation requirements	-	-	-	9,608,187	9,608,187	Note 2
		TFNM	Other receivables	Yes	1,500,000	1,500,000	-	-	Short-term financing	-	Operation requirements	-	-	-	9,608,187	9,608,187	Note 2
		WTVB	Other receivables	Yes	600,000	600,000	-	-	Short-term financing	-	Operation requirements	-	-	-	9,608,187	9,608,187	Note 2
3	TFN	TWM	Other receivables	Yes	12,000,000	12,000,000	11,080,000	2.00944%-2.01000%	Short-term financing	-	Operation requirements	-	-	-	25,784,856	25,784,856	Note 2
4	YJCTV	TFNM	Other receivables	Yes	120,000	120,000	120,000	2.01000%	Short-term financing	-	Repayment of financing	-	-	-	140,966	140,966	Note 3
5	PCTV	TFNM	Other receivables	Yes	350,000	350,000	350,000	2.01000%	Short-term financing	-	Repayment of financing	-	-	-	382,268	382,268	Note 3
6	UCTV	TFNM	Other receivables	Yes	460,000	460,000	420,000	2.01000%	Short-term financing	-	Repayment of financing	-	-	-	726,260	726,260	Note 3
7	GCTV	TFNM	Other receivables	Yes	270,000	270,000	270,000	2.01000%	Short-term financing	-	Repayment of financing	-	-	-	275,648	275,648	Note 3

Note 1: The maximum balance for the period and the ending balance represent quotas, not actual drawdown.
Note 2: Where funds are loaned for reasons of business dealings and short-term financing needs, the amount of loaned funds shall be limited to 40% of the lending company's net worth. For short-term financing needs, the aggregate amount of loaned funds shall not exceed 40% of the lending company's net worth. The individual loan funds shall be limited to the lowest amount of the following items: (1) 40% of the lending company's net worth; (2) The amount that the lending company invests in the borrowing entities; or (3) An amount equal to (the share portion of the borrowing entities that the lending company invests in) * (the total loaning amounts of the borrowing company). In the event where any of the following conditions are met, the individual lending amount of loaned funds shall not exceed 40% of the lending company's net worth and not subject to the restrictions in points (2) and (3) mentioned above: (i) A lending company directly and indirectly owns 100% of the lending company, or (ii) The ultimate parent company of the lending company directly or indirectly owns 100% of the borrowing company.
Note 3: Where funds are loaned for reasons of business dealings and short-term financing needs, the amount of loaned funds shall be limited to the total amount of business dealings and 40% of the lending company's net worth. (1) For reasons of business dealings: The individual lending amount and the aggregate amount of loaned funds shall not exceed the amount of business dealings and the total amount of business dealings, respectively. (2) For short-term financing needs: The individual lending amount and the aggregate amount of loaned funds shall not exceed 40% of the lending company's net worth.

TABLE 2

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

ENDORSEMENT/GUARANTEE PROVIDED TO OTHER PARTIES

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

No.	Company Providing Endorsements/ Guarantees	Receiving Party		Limits on Endorsements/ Guarantees Amount Provided to Each Entity	Maximum Balance for the Period (Note 1)	Ending Balance (Note 1)	Drawdown Amounts (Note 1)	Amount of Endorsements/ Guarantees Collateralized by Property	Ratio of Accumulated Endorsements/ Guarantees to Net Worth of the Guarantor (Note 1)	Maximum Endorsements/ Guarantees Amount Allowable	Guarantee Provided by Parent Company	Guarantee Provided by a Subsidiary	Guarantee Provided to Subsidiaries in Mainland China	Note
		Name	Nature of Relationship
0	TWM	TFN	Note 2	$ 42,000,000	$ 21,500,000	$ 21,500,000	$ 7,000,000	$ -	23.61	$ 91,058,326	Y	N	N	Note 3
		FSNR	Note 2	200,000	200,000	200,000	200,000	-	0.22	91,058,326	Y	N	N	Note 3

Note 1: The maximum endorsement/guarantee balance for the period, the ending balance, and the drawdown amounts represent quotas, not actual drawdown.
Note 2: Direct/indirect subsidiary.
Note 3: For 100% directly/indirectly owned subsidiaries, the aggregate endorsement/guarantee amount provided shall not exceed the net worth of TWM, and the upper limit for each subsidiary shall be double the investment amount.

60 -

TABLE 3

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

SIGNIFICANT MARKETABLE SECURITIES HELD (EXCLUDING INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES)

MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

Investing Company	Marketable Securities Type and Name	Relationship with the Securities Issuer	Financial Statement Account	At the End of the Period
				Units/Shares (In Thousands)	Carrying Amount	Percentage of Ownership (%)	Fair Value
TWM	Listed Stocks
	91APP, Inc.	-	Non-current financial assets at FVTOCI	7,470	$ 444,465	6.52	$ 444,465
	Unlisted Stocks
	KKCompany Technologies Inc.	-	Non-current financial assets at FVTOCI	8,587	728,224	5.51	728,224
	Cloud Mile Inc.	-	Non-current financial assets at FVTOCI	5,396	865,408	14.84	865,408
	LINE Bank Taiwan Limited	-	Non-current financial assets at FVTOCI	87,500	699,201	4.375	699,201
TCC/TFN/TID	Listed Stocks
	TWM	TWM	Non-current financial assets at FVTOCI	692,600	75,493,357	18.6	75,493,357
momo	Unlisted Stocks
	Gaius Automotive Inc.	-	Non-current financial assets at FVTPL	5,750	303,583	7.07	303,583
	LINE Bank Taiwan Limited	-	Non-current financial assets at FVTOCI	50,000	399,543	2.5	399,543

Note 1: For information on investment subsidiaries and associates, please refer to Table 6 and Table 8.

TABLE 4

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES OF AT LEAST NTS100 MILLION OR 20% OF THE PAID-IN CAPITAL

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

Company Name	Related Party	Nature of Relationship	Transaction Details				Transactions with Terms Different from Others		Notes/Accounts Payable or Receivable		Note
			Purchase/Sale	Amount	% to Total	Payment Terms	Unit Price	Payment Terms	Ending Balance	% to Total
TWM	TFN	Subsidiary	Purchase	$ 1,371,744	9	Based on contract terms	-	-	$( 524,087)	Note 2	Note 3
	momo	Subsidiary	Sale	871,779	4	Based on contract terms	-	-	330,315	4
FSNR	momo	Fellow subsidiary	Sale	174,028	57	Based on contract terms	-	-	67,817	65
TFN	kbro	Other related party	Sale	112,218	4	Based on contract terms	-	-	73,851	6
TT&T	TWM	Ultimate parent	Sale	311,601	93	Based on contract terms	-	-	102,819	93
TPIA	Fubon Insurance	Other related party	Sale	115,934	99	Based on contract terms	-	-	142,052	99
TFNM	PCTV	Subsidiary	Channel leasing fee	105,959	9	Based on contract terms	Note 1	Note 1	-	-
momo	FSL	Subsidiary	Purchase	347,463	1	Based on contract terms	-	-	( 233,544)	2

Note 1: The companies authorized a related party to deal with the copyrights transactions for cable television. As the said account item was the only one, there was no comparable transaction.
Note 2: Including accounts payable and other payables.
Note 3: Accounts receivable (payable) was the net amount after being offset.

TABLE 5

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES OF AT LEAST NTS100 MILLION OR 20% OF THE PAID-IN CAPITAL

MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

Company Name	Related Party	Nature of Relationship	Ending Balance	Turnover Rate	Overdue		Amount Received in Subsequent Period	Allowance for Impairment Loss
					Amount	Action Taken
TWM	momo	Subsidiary	Notes and accounts receivable	$ 330,315	10.15	$ -	-	$ 328,791	$ -
			Other receivables	59,605		-	-	38,305	-
	TPIA	Subsidiary	Notes and accounts receivable	127,690	2.3	-	-	45,957	-
TCC	TWM	Parent	Other receivables	1,006,274		-	-	-	-
	Fubon Securities	Other related party	Other receivables	139,038		-	-	139,038	-
WMT	TWM	Parent	Other receivables	5,312,858		-	-	38,066	-
TFN	TWM	Ultimate parent	Notes and accounts receivable	531,988	10.51	-	-	477,496	-
			Other receivables	11,196,073		-	-	69,888	-
TT&T	TWM	Ultimate parent	Notes and accounts receivable	102,819	12.03	-	-	102,819	-
TPIA	Fubon Insurance	Other related party	Notes and accounts receivable	142,052	3.28	-	-	33,773	-
YJCTV	TFNM	Parent	Notes and accounts receivable	7,805	6.13	-	-	2,856	-
			Other receivables	120,597		-	-	-	-
PCTV	TFNM	Parent	Notes and accounts receivable	9,264	6.15	-	-	3,103	-
			Other receivables	351,799		-	-	38	-
UCTV	TFNM	Parent	Notes and accounts receivable	5,767	6.18	-	-	2,120	-
			Other receivables	423,037		-	-	-	-
GCTV	TFNM	Parent	Notes and accounts receivable	3,615	6.12	-	-	1,256	-
			Other receivables	272,346		-	-	-	-
momo	TWM	Ultimate parent	Notes and accounts receivable	54,458	11.3	-	-	54,458	-
			Other receivables	51,066		-	-	44,707	-
	TFCB	Other related party	Notes and accounts receivable	66,675	Note 1	-	-	66,675	-
			Other receivables	212,561		-	-	212,561	-
FSL	momo	Parent	Notes and accounts receivable	234,248	5.58	-	-	234,248	-

Note 1: Not applicable due to the transaction partners and the nature of transactions.

TABLE 6

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

NAMES, LOCATIONS AND RELATED INFORMATION OF INVESTEES ON WHICH TWM EXERCISED SIGNIFICANT INFLUENCE

(EXCLUDING INFORMATION ON INVESTMENT IN MAINLAND CHINA)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

Investor	Investor	Location	Main Businesses and Products	Investment Amount	Balance at the End of the Period	Net Income (Loss) of the Investor	Investment Income (Loss)	Note
March 31, 2026	December 31, 2025	Shares (In Thousands)	Percentage of Ownership (%)	Carrying Amount
TWM	TCC	Taiwan	Investment	$ 40,397,288	$ 40,397,288	502,970	100	$ 22,579,987
WMT	Taiwan	Investment	16,871,894	16,871,894	42,065	100	24,017,763	747,983
TNH	Taiwan	Building and operating Songshan Cultural and Creative Park BOT project	1,918,655	1,918,655	191,866	49.9	2,082,258	49,526
FSD	Taiwan	Virtual asset platform and transaction service provider	100,000	100,000	10,000	100	14,011	( 12,596)
TPC	Taiwan	Information software service	200,000	200,000	20,000	100	137,020	( 5,703)
FSNR	Taiwan	Branding agency and retail sales	100,000	100,000	10,000	100	74,514	13,390
TWMFM	Taiwan	Film production	11,300	11,300	1,130	100	11,260	( 77)
SYSTEX	Taiwan	Information services	3,974,262	3,974,262	32,298	11.86	4,175,253	718,327
PACM	British Virgin Islands	Investment	3,048,008	-	9	30	3,091,637	-
AppWorks	Taiwan	Venture capital, investment consulting, and management consulting	235,000	235,000	2,168	51	270,068	34,451
AppWorks Fund III	Taiwan	Venture capital	583,292	583,292	57,877	20.14	484,438	( 13,509)
AppWorks Fund IV	Taiwan	Venture capital	361,340	355,110	-	16.64	301,667	( 10,939)
Uspace	Taiwan	Information software service	310,030	310,030	7,212	31.76	216,833	( 42,454)
NADA	Taiwan	Animation and game investment, production, and distribution	126,700	96,700	5,602	17.88	127,215	( 23,670)
Tropics	Taiwan	Animation distribution	60,000	60,000	6,000	40	54,538	( 3,750)
Fubon Green Power	Taiwan	Energy technical services	400,000	400,000	40,000	10	395,444	( 7,691)
WeMo	Cayman	Investment, rental and leasing	391,531	391,531	41,257	17.28	384,109	( 12,991)
Bronci	Taiwan	Automatic speech recognition	69,659	69,659	660	23.85	72,652	104
TCC	TFN	Taiwan	Fixed line service provider	21,000,000	21,000,000	2,100,000	100	64,463,103
TT&T	Taiwan	Call center service and telephone marketing	56,210	56,210	2,484	100	144,210	15,968
TDS	Taiwan	Commissioned maintenance services	25,000	25,000	2,500	100	109,995	2,684
TPIA	Taiwan	Property insurance agent	5,000	5,000	500	100	171,312	33,200
TFC	Taiwan	Cloud and information services	200,000	200,000	24,000	100	261,394	6,172
TID	Taiwan	Investment	3,605,149	3,605,149	104,912	100	8,480,532	757
WMT	TFNM	Taiwan	Broadcasting and TV program distribution and investment in cable TV service providers, etc	5,210,443	5,210,443	230,921	100	7,073,227
GFMT	Taiwan	Investment	16,984	16,984	1,500	100	16,952	( 80)
GWMT	Taiwan	Investment	92,189	92,189	8,945	100	96,411	( 101)
WTVB	Taiwan	TV program provider	222,417	222,417	18,177	100	306,864	( 2,709)
momo	Taiwan	Wholesale, retail, and retail sale no storefront	8,129,394	8,129,394	119,278	45.01	11,208,759	643,777
TWMFM	SFF	Taiwan	Film production	300	300	30	100	168
TFNM	YJCTV	Taiwan	Cable TV service provider	2,355,998	2,355,998	33,940	100	1,756,781
MCTV	Taiwan	Cable TV service provider	510,724	510,724	6,248	29.53	543,750	1,627

Investor	Investor	Location	Main Businesses and Products	Investment Amount		Balance at the End of the Period			Net Income (Loss) of the Investor	Investment Income (Loss)	Note
				March 31, 2026	December 31, 2025	Shares (In Thousands)	Percentage of Ownership (%)	Carrying Amount
TFNM	PCTV	Taiwan	Cable TV service provider	$ 3,261,073	$ 3,261,073	68,090	100	$ 3,280,457	$ 18,790	$ -	Note 4
	UCTV	Taiwan	Cable TV service provider	1,986,250	1,986,250	169,141	99.22	2,004,752	(3,202)	-	Note 4
	GCTV	Taiwan	Cable TV service provider	1,221,002	1,221,002	51,733	92.38	1,259,134	(559)	-	Note 4
	kbro Media	Taiwan	Film distribution, arts and literature services, and entertainment	341,250	341,250	6,884	33.58	49,913	(676)	-	Note 4
	M.E.	Taiwan	Livestreaming artists management services and digital media production	30,628	30,628	537	11.33	35,284	5,250	-	Note 4
GFMT	UCTV	Taiwan	Cable TV service provider	16,218	16,218	1,300	0.76	15,412	(3,202)	-	Note 4
GWMT	GCTV	Taiwan	Cable TV service provider	91,910	91,910	3,825	6.83	95,081	(559)	-	Note 4
momo	Asian Crown	British Virgin Islands	Investment	885,285	885,285	9,735	81.99	13,292	334	-	Note 4 and 7
	Honest Development	Samoa	Investment	770,448	770,448	25,107	100	350,049	4,716	-	Note 4
	FI	Taiwan	Comprehensive insurance agent	8,000	8,000	1,000	100	15,603	453	-	Note 4
	FST	Taiwan	Travel agent	6,000	6,000	3,000	100	47,046	2,061	-	Note 4
	FSL	Taiwan	Logistics and transport	250,000	250,000	25,000	100	306,783	17,826	-	Note 4
	MFS	Taiwan	Wholesaling	100,000	100,000	10,000	100	106,411	2,187	-	Note 4
	Prosperous Living	Taiwan	Wholesale and retail sales	220,850	220,850	22,085	73.62	228,214	4,060	-	Note 4
	Fubon Green Power	Taiwan	Energy technical services	200,000	200,000	20,000	5	197,722	(7,691)	-	Note 4
	SK Biomedical	Taiwan	Wholesale and retail sales	6,000	6,000	600	20	4,247	(886)	-	Note 4
Asian Crown	Fortune Kingdom	Samoa	Investment	1,132,789	1,132,789	11,594	100	11,522	235	-	Note 4 and 7
Fortune Kingdom	HK Fubon Multimedia	Hong Kong	Investment	-	1,132,789	-	100	-	170	-	Note 4 and 7
Honest Development	HK Yue Numerous	Hong Kong	E-commerce portals and investment	770,448	770,448	5,441	100	350,047	4,716	-	Note 4

Note 1: Downstream transactions, upstream transactions, and consolidated unrealized gain or loss, etc., are included.
Note 2: Acquired in the current period.
Note 3: Percentage of ownership is the percentage of capital contribution.
Note 4: The income/loss of the investee was already included in the income/loss of the investor, and is not presented in this table.
Note 5: Material non-controlling interests.
Note 6: 70.47% of stocks are held under trustee accounts.
Note 7: The subsidiaries were resolved to be dissolved by their Board of Directors and are currently in the process of liquidation. The remaining funds were remitted in stages to momo between March and April 2026.
Note 8: For information on investments in mainland China, see Table 8 for the details.

TABLE 7

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT TRANSACTIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars)

Number	Company Name	Counterparty	Nature of Relationship (Note 1)	Transaction Details
				Account	Amount	Transaction Terms (Note 2)	Percentage of Consolidated Total Operating Revenue or Total Assets
0	TWM	TPIA	1	Notes and accounts receivable	$ 127,690	-	-
		momo	1	Notes and accounts receivable	330,315	-	-
		TCC	1	Short-term borrowings	1,006,000	-	-
		WMT	1	Short-term borrowings	5,273,000	-	2%
		TFN	1	Short-term borrowings	11,080,000	-	5%
		TFN	1	Notes and accounts payable	103,996	-	-
		TFN	1	Other payables	497,226	-	-
		TT&T	1	Other payables	102,819	-	-
		TNH	1	Lease liabilities (current and non-current)	386,572	-	-
		TFN	1	Lease liabilities (current and non-current)	160,912	-	-
		momo	1	Operating revenue	871,779	-	2%
		TFN	1	Operating costs	1,371,744	-	3%
		TT&T	1	Operating expenses	311,117	-	1%
1	TFN	TWM	2	Lease liabilities (current and non-current)	108,571	-	-
2	FSNR	momo	3	Operating revenue	174,028	-	-
3	TFNM	YJCTV	1	Short-term borrowings	120,000	-	-
		PCTV	1	Short-term borrowings	350,000	-	-
		UCTV	1	Short-term borrowings	420,000	-	-
		GCTV	1	Short-term borrowings	270,000	-	-
		PCTV	1	Operating revenue	115,888	-	-
4	momo	FSL	1	Notes and accounts payable	233,544	-	-
		FSL	1	Operating costs	347,463	-	1%

Note 1: 1. Parent to subsidiary.
2. Subsidiary to parent.
3. Between subsidiaries.

Note 2: The terms of transaction are determined in accordance with mutual agreements or general business practices.

Note 3: All intra-group transactions, balances, income and expenses are adjusted and eliminated in full upon consolidation.

TABLE 8

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

INVESTMENTS IN MAINLAND CHINA

FOR THE THREE MONTHS ENDED MARCH 31, 2026

(In Thousands of New Taiwan Dollars and Foreign Currencies)

Investee Company Name	Main Businesses and Products	Total Amount of Paid-in Capital	Investment Type (Note 1)	Accumulated Outflow of Investment from Taiwan at the Beginning of the Period	Investment Flows		Accumulated Outflow of Investment from Taiwan at the End of the Period	Net Income (Loss) of Investee	% Ownership through Direct or Indirect Investment	Investment Income (Loss)	Carrying Value at the End of the Period	Accumulated Inward Remittance of Earnings at the End of the Period	Note
					Outflow	Inflow
FGE	Wholesaling	$ -	b	$ 860,861 (USD 14,000) (RMB 89,267)	$ -	$ -	$ 860,861 (USD 14,000) (RMB 89,267)	$ -	-	$ -	$ -	$ -	Note 2
Shenzhen Hbo	Information services and investment	50,875 (RMB 11,000)	b	-	-	-	-	11,905	100	11,905	244,705	-
GHS	Wholesaling	231,251 (RMB 50,000)	b	-	-	-	-	17,531	20	11,715	242,166	62,452 (RMB 13,503)
Company	Accumulated Investment in Mainland China at the End of the Period	Investment Amounts Authorized by Investment Commission, MOEA	Upper Limit on Investment Authorized by Investment Commission, MOEA (Note 3)
---	---	---	---
TWM and subsidiaries	$ 1,549,174 (USD14,000, RMB89,267 and HKD168,539)	$ 1,549,174 (USD14,000, RMB89,267 and HKD168,539)	$ 59,908,149

Note 1: The investment types are as follows:
a. Direct investment in mainland China.
b. Indirect investments in mainland China through subsidiaries, invested by momo, in third regions.
c. Others.

Note 2: The liquidation process was completed in December 2025, and the remaining funds were remitted to momo in April 2026.

Note 3: The upper limit on investment in mainland China is calculated by 60% of the consolidated net worth.

AI assistant

TWM — Interim / Quarterly Report 2026

52277_rns_2026-05-13_e57da3ee-80cc-497b-80f8-356fddbced56.pdf

Taiwan Mobile Co., Ltd. and Subsidiaries

Notice to Readers

CONSOLIDATED BALANCE SHEETS

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

1. ORGANIZATION AND OPERATIONS

2. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS

3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS

4. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

a. Statement of Compliance

b. Basis of Consolidation

8. NOTES AND ACCOUNTS RECEIVABLE, NET

10. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD

11. SUBSIDIARIES WITH MATERIAL NON-CONTROLLING INTERESTS

13. LEASE ARRANGEMENTS

14. INVESTMENT PROPERTIES

15. INTANGIBLE ASSETS

19. PROVISIONS

20. RETIREMENT BENEFIT PLANS

21. EQUITY

23. NON-OPERATING INCOME AND EXPENSES

24. INCOME TAX

25. EARNINGS PER SHARE

26. CASH FLOW INFORMATION

27. CAPITAL MANAGEMENT

28. FINANCIAL INSTRUMENTS

Valuation techniques and assumptions used in fair value determination

29. RELATED-PARTY TRANSACTIONS

31. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS

32. OTHERS

Information of employees' compensation and remuneration of directors

33. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

34. ADDITIONAL DISCLOSURES

35. SEGMENT INFORMATION

b. Geographical information

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

FINANCING EXTENDED TO OTHER PARTIES

FOR THE THREE MONTHS ENDED MARCH 31, 2026

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

ENDORSEMENT/GUARANTEE PROVIDED TO OTHER PARTIES

FOR THE THREE MONTHS ENDED MARCH 31, 2026

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

SIGNIFICANT MARKETABLE SECURITIES HELD (EXCLUDING INVESTMENTS IN SUBSIDIARIES AND ASSOCIATES)

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

TOTAL PURCHASES FROM OR SALES TO RELATED PARTIES OF AT LEAST NTS100 MILLION OR 20% OF THE PAID-IN CAPITAL

FOR THE THREE MONTHS ENDED MARCH 31, 2026

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES OF AT LEAST NTS100 MILLION OR 20% OF THE PAID-IN CAPITAL

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

NAMES, LOCATIONS AND RELATED INFORMATION OF INVESTEES ON WHICH TWM EXERCISED SIGNIFICANT INFLUENCE

(EXCLUDING INFORMATION ON INVESTMENT IN MAINLAND CHINA)

FOR THE THREE MONTHS ENDED MARCH 31, 2026

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT TRANSACTIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2026

TAIWAN MOBILE CO., LTD. AND SUBSIDIARIES

INVESTMENTS IN MAINLAND CHINA

FOR THE THREE MONTHS ENDED MARCH 31, 2026

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TWM Interim / Quarterly Report 2026