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Equibles

6-K

Chunghwa Telecom Co Ltd (CHT)

6-K 2026-05-11 For: 2026-05-11
View Original
Added on May 11, 2026

1934 Act Registration No. 1-31731

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

Dated May 11, 2026

Chunghwa Telecom Co., Ltd.

(Translation of Registrant’s Name into English)

21-3 Xinyi Road Sec. 1,

Taipei, Taiwan, 100 R.O.C.

(Address of Principal Executive Office)

(Indicate by check mark whether the registrant files or will file annual reports under cover of form 20-F or Form 40-F.)

Form 20-F ☒****Form 40-F ☐

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes ☐   No****☒ ****

(If “Yes” is marked, indicated below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable)

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EXHIBIT INDEX

Exhibit Description
99.1 To announce the differences between consolidated financial statements for the three months ended March 31, 2026 under Taiwan-IFRSs and that under IFRSs
99.2 Consolidated Financial Statements for the Three Months Ended March 31, 2026 and 2025 and Independent Auditors’ Review Report pursuant to International Financial Reporting Standards adopted by ROC<br>(“Taiwan-IFRSs”)
99.3 Consolidated Financial Statements for the Three Months Ended March 31, 2026 and 2025 and<br><br><br>Independent Auditors’ Review Report pursuant to International Financial Reporting Standards issued by the International Accounting Standards Board<br>(“IFRSs”)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant Chunghwa Telecom Co., Ltd. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 11, 2026

Chunghwa Telecom Co., Ltd.
By: /s/ Wen-Hsin Hsu
Name: Wen-Hsin Hsu
Title: Chief Financial Officer

3

EX-99.1

Exhibit 99.1

Chunghwa Telecom’s Material Information as Reported to Taiwan Stock Exchange Corporation

Subject: To announce the differences between consolidated financial statements for the three months ended March 31, 2026 under Taiwan-IFRSs and that under IFRSs

To which item it meets—article 4 paragraph xx:47 (Form 1)

Date of events: 2026/5/8

Contents:

1. Date of occurrence of the event:

2026/5/8

2. Year/Quarter of the financial report:

The first quarter of 2026

3. Accounting principles applied for securities listed domestically:

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 (“Taiwan-IFRSs”)

4. Inconsistent items/amounts in financial reports for securities listed domestically:

Under Taiwan-IFRSs, Chunghwa Telecom Co., Ltd. and its subsidiaries (or the “Company”) reported consolidated net income of NT$10,607,722 thousand, consolidated net income attributable to stockholders of the parent of NT$10,109,931 thousand, and basic earnings per share of NT$1.30 for the three months ended March 31, 2026, respectively. The Company also reported total consolidated assets of NT$547,813,634 thousand, total consolidated liabilities of NT$136,380,954 thousand, and total consolidated equity of NT$411,432,680 thousand as of March 31, 2026.

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5. Accounting principles applied for securities issued overseas:

IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (“IFRSs”)

6. Inconsistent items/ amounts (securities issued overseas):

Under IFRSs, the Company reported consolidated net income of NT$10,122 million, consolidated net income attributable to stockholders of the parent of NT$9,611 million, and basic earnings per share of NT$1.24 for the three months ended March 31, 2026, respectively. The Company also reported total consolidated assets of NT$547,618 million, total consolidated liabilities of NT$138,991 million, and total consolidated equity of NT$408,627 million as of March 31, 2026.

7. Inconsistent items/amounts in financial information for securities issued overseas:

The differences between consolidated net income under Taiwan-IFRSs and that under IFRSs followed by the Company mainly come from the timing of the recognition of income tax on unappropriated earnings. In addition, prior to incorporation, the Company was subject to the laws and regulations applicable to state-owned enterprises in Taiwan which differed from the generally accepted accounting principles as applicable to commercial companies. As such, revenue from providing fixed line connection service and selling prepaid phone cards was recognized at the time the service was performed or the card was sold by the Company. Upon incorporation, net assets greater than the capital stock was credited as additional paid-in-capital and part of the additional paid-in-capital was from the unearned revenues generated from connection fees and prepaid cards as of the date of incorporation. Under IFRSs, revenue from connection fees and prepaid phone cards was deferred at the time of the service performed or sale and recognized as revenue over time as the service is continuously performed or as consumed. This reclassification from additional paid-in capital to retained earnings did not affect total equity.

8. Any other matters that need to be specified:

Chunghwa Telecom’s earnings distribution and stockholders’ equity matters are in accordance with Taiwan-IFRSs.

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EX-99.2

Exhibit 99.2

Chunghwa Telecom Co., Ltd. and Subsidiaries

Consolidated Financial Statements for the

ThreeMonths Ended March 31, 2026 and 2025 and

Independent Auditors’ Review Report

INDEPENDENT AUDITORS’ REVIEW REPORT

PWCR26000051

To the Board of Directors and Stockholders of Chunghwa Telecom Co., Ltd.

Introduction

We have reviewed the accompanying consolidated balance sheets of Chunghwa Telecom Co., Ltd. and its subsidiaries (the “Company”) as of March 31, 2026 and 2025, and the related consolidated statements of comprehensive income, of changes in equity and of cash flows for the three-month periods then ended, and notes to the consolidated financial statements, including a summary of material accounting policy information. Management is responsible for the preparation and fair presentation of these 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”, that came into effect as endorsed by the Financial Supervisory Commission. Our responsibility is to express a conclusion on these consolidated financial statements based on our reviews.

Scope of Review

We conducted our reviews in accordance with the Standards on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” of the Republic of China. 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 Company as of March 31, 2026 and 2025, and of its consolidated financial performance and its consolidated cash flows for the three-month periods then ended in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34, “Interim Financial Reporting”, that came into effect as endorsed by the Financial Supervisory Commission.

/s/ Huang, Shih-Chun /s/ Hsu, Chien-Yeh

For and on behalf of PricewaterhouseCoopers, Taiwan

May 8, 2026

Notice to Readers

The accompanying consolidated financial statements are not intended to present the financial position and results of operations and cash flowsin accordance with accounting principles generally accepted in countries and jurisdictions other than the Republic of China. The standards, procedures and practices in the Republic of China governing the audit of such financial statements may differfrom those generally accepted in countries and jurisdictions other than the Republic of China. Accordingly, the accompanying consolidated financial statements and independent auditors’ review report are not intended for use by those who arenot informed about the accounting principles or auditing standards generally accepted in the Republic of China, and their applications in practice. As the financial statements are the responsibility of the management, PricewaterhouseCoopers cannotaccept any liability for the use of, or reliance on, the English translation or for any errors or misunderstandings that may derive from the translation.

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Thousands of NewTaiwan Dollars)

March 31, 2026 December 31, 2025 March 31, 2025
ASSETS Amount % Amount % Amount %
CURRENT ASSETS
Cash and cash equivalents (Notes 6, 14 and 38) $ 35,230,791 6 $ 36,944,206 7 $ 29,047,839 5
Financial assets at fair value through profit or loss (Note 7) 250 — 3,372 — 5,048 —
Financial assets at fair value through other comprehensive income (Note 8) — — 18,555 — — —
Hedging financial assets (Note 21) — — 3,204 — 30 —
Contract assets (Note 30) 8,809,445 2 8,576,194 2 8,486,649 2
Trade notes and accounts receivable, net (Notes 10 and 30) 29,146,345 5 27,396,423 5 22,496,724 4
Receivables from related parties (Note 38) 178,084 — 213,480 — 154,602 —
Inventories (Notes 11, 30, 39 and 40) 14,904,433 3 13,178,595 2 11,916,341 2
Prepayments (Note 12) 8,197,935 1 3,789,733 1 6,408,832 1
Other current monetary assets (Notes 13 and 38) 33,625,902 6 23,467,523 4 36,773,359 7
Incremental costs of obtaining contracts (Note 30) 338,581 — 338,581 — 339,172 —
Other current assets (Notes 20 and 39) 4,033,113 1 3,441,219 1 2,994,656 1
Total current assets 134,464,879 24 117,371,085 22 118,623,252 22
NONCURRENT ASSETS
Financial assets at fair value through profit or loss (Note 7) 1,239,325 — 1,211,352 — 1,082,818 —
Financial assets at fair value through other comprehensive income (Note 8) 6,707,025 1 6,786,803 1 5,300,400 1
Financial assets at amortized cost (Note 9) 2,020,294 — 2,020,300 — 2,000,000 —
Investments accounted for using equity method (Note 15) 8,684,889 2 8,456,132 2 9,124,013 2
Contract assets (Note 30) 4,834,207 1 4,733,374 1 4,353,711 1
Property, plant and equipment (Notes 14, 16, 35, 39 and 40) 282,832,850 52 288,164,825 55 286,589,967 54
Right-of-use assets (Notes 17 and 38) 10,475,736 2 10,763,909 2 11,320,565 2
Investment properties (Note 18) 14,102,858 3 12,420,318 2 12,292,561 2
Intangible assets (Notes 19 and 35) 58,260,806 11 59,762,175 11 64,647,191 12
Deferred income tax assets (Note 3) 1,795,783 — 1,781,649 — 1,748,558 —
Incremental costs of obtaining contracts (Note 30) 1,051,918 — 1,109,029 — 1,209,212 —
Net defined benefit assets (Note 3) 10,021,823 2 9,865,533 2 9,072,610 2
Prepayments (Notes 12 and 40) 6,173,824 1 5,931,213 1 4,789,717 1
Other noncurrent assets (Notes 20, 39 and 40) 5,147,417 1 5,494,254 1 5,075,506 1
Total noncurrent assets 413,348,755 76 418,500,866 78 418,606,829 78
TOTAL $ 547,813,634 100 $ 535,871,951 100 $ 537,230,081 100
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term loans (Notes 14 and 22) $ 540,000 — $ 340,000 — $ 530,000 —
Financial liabilities at fair value through profit or loss (Note 7) 1,681 — 3 — — —
Hedging financial liabilities (Note 21) 1,619 — 56 — — —
Contract liabilities (Notes 30 and 40) 22,646,787 4 21,296,124 4 16,582,177 3
Trade notes and accounts payable (Note 25) 13,845,531 3 15,922,842 3 10,692,983 2
Payables to related parties (Note 38) 143,987 — 176,746 — 120,174 —
Current tax liabilities (Note 3) 7,730,733 1 5,218,971 1 7,141,579 1
Lease liabilities (Notes 17, 35 and 38) 3,950,500 1 3,889,510 1 3,738,416 1
Other payables (Notes 26 and 35) 26,053,359 5 28,716,142 5 23,586,489 5
Provisions (Note 27) 541,388 — 524,743 — 668,780 —
Current portion of long-term liabilities (Notes 23, 24 and 39) 5,399,058 1 1,899,856 — 8,805,183 2
Other current liabilities 947,986 — 957,029 — 1,016,527 —
Total current liabilities 81,802,629 15 78,942,022 14 72,882,308 14
NONCURRENT LIABILITIES
Long-term loans (Notes 23 and 39) 1,600,000 — 1,600,000 — 1,629,167 —
Bonds payable (Notes 3 and 24) 21,687,792 4 23,288,282 4 21,690,253 4
Contract liabilities (Notes 30 and 40) 6,646,928 1 6,567,398 1 7,407,333 1
Deferred income tax liabilities (Note 3) 2,888,283 1 2,828,682 1 2,713,617 1
Provisions (Note 27) 563,060 — 560,273 — 307,725 —
Lease liabilities (Notes 17, 35 and 38) 6,574,169 1 7,000,631 2 7,462,150 2
Customers’ deposits (Note 38) 5,222,660 1 5,261,997 1 5,160,925 1
Net defined benefit liabilities (Note 3) 2,362,916 — 2,329,312 — 2,119,689 —
Other noncurrent liabilities 7,032,517 1 6,703,278 2 7,581,570 1
Total noncurrent liabilities 54,578,325 9 56,139,853 11 56,072,429 10
Total liabilities 136,380,954 24 135,081,875 25 128,954,737 24
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE PARENT (Notes 14 and 29)
Common stocks 77,574,465 15 77,574,465 15 77,574,465 15
Additional paid-in capital 172,473,842 31 172,450,886 32 171,596,531 32
Retained earnings
Legal reserve 77,574,465 15 77,574,465 15 77,574,465 15
Special reserve 2,675,419 — 2,675,419 — 2,675,419 —
Unappropriated earnings 65,072,551 12 54,962,307 10 64,752,573 12
Total retained earnings 145,322,435 27 135,212,191 25 145,002,457 27
Others 941,514 — 1,020,169 — 1,230,537 —
Total equity attributable to stockholders of the parent 396,312,256 73 386,257,711 72 395,403,990 74
NONCONTROLLING INTERESTS (Note 14) 15,120,424 3 14,532,365 3 12,871,354 2
Total equity 411,432,680 76 400,790,076 75 408,275,344 76
TOTAL $ 547,813,634 100 $ 535,871,951 100 $ 537,230,081 100

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

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(InThousands of New Taiwan Dollars, Except Earnings Per Share)

Three Months Ended March 31
2026 2025
Amount % Amount %
REVENUES (Notes 30, 38 and 45) $ 59,988,435 100 $ 55,808,409 100
OPERATING COSTS (Notes 11, 28, 30, 31 and 38) 37,238,688 62 34,203,238 61
GROSS PROFIT 22,749,747 38 21,605,171 39
OPERATING EXPENSES (Notes 10, 28, 31 and 38)
Marketing 6,428,072 11 6,140,628 11
General and administrative 1,972,202 3 1,793,499 3
Research and development 1,114,800 2 1,029,841 2
Expected credit loss 132,074 — 119,535 —
Total operating expenses 9,647,148 16 9,083,503 16
OTHER INCOME AND EXPENSES (Note 31) 1,927 — 1,018 —
INCOME FROM OPERATIONS 13,104,526 22 12,522,686 23
NON-OPERATING INCOME AND EXPENSES
Interest income (Note 38) 197,862 — 211,517 —
Other income (Notes 31 and 38) 41,110 — 38,448 —
Other gains and losses (Notes 14, 31, 37 and 38) (45,282 ) — (25,118 ) —
Interest expense (Notes 17, 31 and 38) (102,516 ) — (89,357 ) —
Share of profit or loss of associates and joint ventures accounted for using equity method (Note<br>15) (14,975 ) — 40,835 —
Total non-operating income and expenses 76,199 — 176,325 —
INCOME BEFORE INCOME TAX 13,180,725 22 12,699,011 23
INCOME TAX EXPENSE (Notes 3 and 32) 2,573,003 4 2,503,200 5
NET INCOME 10,607,722 18 10,195,811 18
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)
Items that will not be reclassified to profit or loss:
Unrealized gain or loss on investments in equity instruments at fair value through other<br>comprehensive income (Notes 29 and 37) (117,386 ) — 568,424 1

(Continued)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(InThousands of New Taiwan Dollars, Except Earnings Per Share)

Three Months Ended March 31
2026 2025
Amount % Amount %
Gain or loss on hedging instruments subject to basis adjustment (Note 21) $ (4,767 ) — $ 804 —
Share of other comprehensive income of associates and joint ventures (Notes 15 and 29) (5,277 ) — 669 —
(127,430 ) — 569,897 1
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising from the translation of the foreign operations 72,442 — 73,809 —
Share of other comprehensive income of associates and joint ventures (Notes 15 and 29) (7,247 ) — 7,268 —
65,195 — 81,077 —
Total other comprehensive income, net of income tax (62,235 ) — 650,974 1
TOTAL COMPREHENSIVE INCOME $ 10,545,487 18 $ 10,846,785 19
NET INCOME ATTRIBUTABLE TO
Stockholders of the parent $ 10,109,931 17 $ 9,799,194 17
Noncontrolling interests 497,791 1 396,617 1
$ 10,607,722 18 $ 10,195,811 18
COMPREHENSIVE INCOME ATTRIBUTABLE TO
Stockholders of the parent $ 10,031,589 17 $ 10,444,048 18
Noncontrolling interests 513,898 1 402,737 1
$ 10,545,487 18 $ 10,846,785 19
EARNINGS PER SHARE (Note 33)
Basic $ 1.30 $ 1.26
Diluted $ 1.30 $ 1.26
The accompanying notes are an integral part of the consolidated financial statements. (Concluded)
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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(InThousands of New Taiwan Dollars)

Equity Attributable to Stockholders of the Parent (Notes 14, 21 and 29)
Others
UnrealizedGain<br><br><br>or Loss on<br><br><br>FinancialAssets<br><br><br>at FairValue<br><br><br>ThroughOther<br><br><br>Comprehensive<br><br><br>Income
Exchange<br><br><br>Differences<br> <br>Arisingfromthe<br> <br>Translationof<br><br><br>the Foreign<br><br><br>Operations
Retained Earnings Gain orLoss<br><br><br>on Hedging<br><br><br>Instruments Noncontrolling<br><br><br>Interests<br> <br>(Note14)
CommonStocks AdditionalPaid-inCapital LegalReserve SpecialReserve UnappropriatedEarnings Total Total Equity
BALANCE, JANUARY 1, 2025 $ 77,574,465 $ 171,587,279 $ 77,574,465 $ 2,675,419 $ 54,953,379 $ 22,852 $ 563,605 $ (774 ) $ 384,950,690 $ 13,154,166 $ 398,104,856
Cash dividends distributed by subsidiaries — — — — — — — — — (710,530 ) (710,530 )
Net income for the three months ended March 31, 2025 — — — — 9,799,194 — — — 9,799,194 396,617 10,195,811
Other comprehensive income for the three months ended March 31, 2025 — — — — — 69,868 574,182 804 644,854 6,120 650,974
Total comprehensive income for the three months ended March 31, 2025 — — — — 9,799,194 69,868 574,182 804 10,444,048 402,737 10,846,785
Changes in equities of subsidiaries — 9,252 — — — — — — 9,252 (6,767 ) 2,485
Net increase in noncontrolling interests — — — — — — — — — 31,748 31,748
BALANCE, MARCH 31, 2025 $ 77,574,465 $ 171,596,531 $ 77,574,465 $ 2,675,419 $ 64,752,573 $ 92,720 $ 1,137,787 $ 30 $ 395,403,990 $ 12,871,354 $ 408,275,344
BALANCE, JANUARY 1, 2026 $ 77,574,465 $ 172,450,886 $ 77,574,465 $ 2,675,419 $ 54,962,307 $ (191,679 ) $ 1,208,700 $ 3,148 $ 386,257,711 $ 14,532,365 $ 400,790,076
Cash dividends distributed by subsidiaries — — — — — — — — — (609,621 ) (609,621 )
Change in additional paid-in capital for not participating in the capital increase of a<br>subsidiary — 266 — — — — — — 266 29,734 30,000
Net income for the three months ended March 31, 2026 — — — — 10,109,931 — — — 10,109,931 497,791 10,607,722
Other comprehensive income for the three months ended March 31, 2026 — — — — — 66,988 (140,563 ) (4,767 ) (78,342 ) 16,107 (62,235 )
Total comprehensive income for the three months ended March 31, 2026 — — — — 10,109,931 66,988 (140,563 ) (4,767 ) 10,031,589 513,898 10,545,487
Disposal of investments in equity instruments at fair value through other comprehensive<br>income — — — — 313 — (313 ) — — — —
Changes in equities of subsidiaries — 22,690 — — — — — — 22,690 304,048 326,738
Net increase in noncontrolling interests — — — — — — — — — 350,000 350,000
BALANCE, MARCH 31, 2026 $ 77,574,465 $ 172,473,842 $ 77,574,465 $ 2,675,419 $ 65,072,551 $ (124,691 ) $ 1,067,824 $ (1,619 ) $ 396,312,256 $ 15,120,424 $ 411,432,680

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

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands ofNew Taiwan Dollars)

Three Months Ended March 31
2026 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax $ 13,180,725 $ 12,699,011
Adjustments for:
Depreciation 8,536,925 8,340,188
Amortization 1,663,940 1,668,887
Amortization of incremental costs of obtaining contracts 232,964 238,217
Expected credit loss 132,074 119,535
Valuation loss (gain) on financial assets and liabilities at fair value through profit or loss,<br>net 31,717 (193 )
Interest expense 102,516 89,357
Interest income (197,862 ) (211,517 )
Dividend income (669 ) —
Compensation cost of share-based payment transactions — 1,225
Share of loss (gain) of associates and joint ventures accounted for using equity method 14,975 (40,835 )
Gain on disposal of property, plant and equipment (1,927 ) (1,018 )
Provision for impairment loss and obsolescence of inventory 19,063 38,153
Gain on disposal of subsidiaries — (15,290 )
Others (49,904 ) 50,931
Changes in operating assets and liabilities:
Decrease (increase) in:
Contract assets (334,934 ) (120,849 )
Trade notes and accounts receivable (1,865,596 ) 3,407,094
Receivables from related parties 35,396 38,402
Inventories (1,744,901 ) 126,103
Prepayments (4,415,147 ) (3,258,324 )
Other current assets (591,894 ) 117,602
Other current monetary assets (215,144 ) (119,227 )
Incremental costs of obtaining contracts (175,853 ) (225,777 )
Increase (decrease) in:
Contract liabilities 1,430,193 155,170
Trade notes and accounts payable (2,077,311 ) (7,040,550 )
Payables to related parties (32,759 ) (360,227 )
Other payables (2,370,891 ) (2,348,547 )
Provisions 19,432 20
Net defined benefit plans (122,686 ) (176,426 )
Other current liabilities (10,802 ) (35,396 )
Cash generated from operations 11,191,640 13,135,719
Interests paid (72,361 ) (71,376 )
Income taxes paid (15,774 ) (113,327 )
Net cash provided by operating activities 11,103,505 12,951,016

(Continued)

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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands ofNew Taiwan Dollars)

Three Months Ended March 31
2026 2025
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through other comprehensive income $ (37,103 ) $ (65,000 )
Proceeds from disposal of financial assets at fair value through other comprehensive<br>income 18,050 —
Acquisition of financial assets at fair value through profit or loss (60,000 ) (82,191 )
Acquisition of investments accounted for using equity method (240,000 ) —
Net cash outflow from loss of control of subsidiaries — (8,664 )
Acquisition of property, plant and equipment (4,549,627 ) (5,407,350 )
Proceeds from disposal of property, plant and equipment 5,862 2,168
Acquisition of intangible assets (79,362 ) (32,751 )
Acquisition of investment properties — (2,067 )
Acquisition of time deposits, negotiable certificates of deposit and commercial paper with<br>maturities of more than three months (21,529,777 ) (23,031,073 )
Proceeds from disposal of time deposits, negotiable certificates of deposit and commercial paper<br>with maturities of more than three months 11,657,827 9,704,902
Decrease (increase) in other noncurrent assets 346,615 (204,163 )
Increase in prepayments for leases (235,666 ) (342,190 )
Interests received 167,296 168,718
Dividends received 1,000 156,220
Proceeds from profit distribution of financial assets at fair value through profit or<br>loss 5,110 44
Net cash used in investing activities (14,529,775 ) (19,143,397 )
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term loans 675,000 530,000
Repayments of short-term loans (475,000 ) (150,000 )
Proceeds from issuance of bonds 2,568,531 —
Payments for transaction costs attributable to the issuance of bonds (5,195 ) —
Decrease in customers’ deposits (37,578 ) (141,038 )
Payments for the principal of lease liabilities (1,163,404 ) (1,203,598 )
Increase (decrease) in other noncurrent liabilities 295,786 (106,666 )
Cash dividends distributed to noncontrolling interests (216,003 ) (688 )
Change in other noncontrolling interests 32,573 13,474
Net cash provided by (used in) financing activities 1,674,710 (1,058,516 )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 38,145 39,047
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,713,415 ) (7,211,850 )
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 36,944,206 36,259,689
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 35,230,791 $ 29,047,839
The accompanying notes are an integral part of the consolidated financial statements. (Concluded)
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CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

THREEMONTHS ENDED MARCH 31, 2026 AND 2025

(In Thousands of New Taiwan Dollars, Unless Stated Otherwise)

1. GENERAL

Chunghwa Telecom Co., Ltd. (“Chunghwa”; Chunghwa together with its subsidiaries are hereinafter referred to collectively as the “Company”.) was incorporated on July 1, 1996 in the Republic of China (“ROC”). Chunghwa is a company limited by shares and, prior to August 2000, was wholly owned by the Ministry of Transportation and Communications (“MOTC”). Prior to July 1, 1996, the current operations of Chunghwa were carried out under the Directorate General of Telecommunications (“DGT”). The DGT was established by the MOTC in June 1943 to take primary responsibility in the development of telecommunications infrastructure and to formulate policies related to telecommunications. On July 1, 1996, the telecom operations of the DGT were spun-off as Chunghwa which continues to carry out the business and the DGT continues to be the industry regulator.

Effective August 12, 2005, the MOTC completed the process of privatizing Chunghwa by reducing the government ownership to below 50% in various stages. In July 2000, Chunghwa received approval from the Securities and Futures Commission (the “SFC”) for a domestic initial public offering and its common stocks were listed and traded on the Taiwan Stock Exchange (the “TWSE”) on October 27, 2000. Certain of Chunghwa’s common stocks were sold, in connection with the foregoing privatization plan, in domestic public offerings at various dates from August 2000 to July 2003. Certain of Chunghwa’s common stocks were also sold in an international offering of securities in the form of American Depository Shares (“ADS”) on July 17, 2003 and were listed and traded on the New York Stock Exchange (the “NYSE”). The MOTC sold common stocks of Chunghwa by auction in the ROC on August 9, 2005 and completed the second international offering on August 10, 2005. Upon completion of the share transfers associated with these offerings on August 12, 2005, the MOTC owned less than 50% of the outstanding shares of Chunghwa and completed the privatization plan.

The consolidated financial statements are presented in Chunghwa’s functional currency, New Taiwan dollars.

2. APPROVAL OF FINANCIAL STATEMENTS

The consolidated financial statements were approved by the Board of Directors on May 8, 2026.

3. SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION

Except for the following items, the accounting policies applied in these consolidated financial statements are consistent with those applied in the consolidated financial statements for the year ended December 31, 2025. Please refer to the consolidated financial statements for the year ended December 31, 2025 for the details.

Statement of Compliance

The accompanying consolidated financial statements have been prepared in conformity with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and the International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission (the “FSC”). The consolidated financial statements do not present all the disclosures required for a complete set of annual consolidated financial statements as required by International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), International Financial Reporting Interpretations Committee (IFRIC) and SIC Interpretations (SIC) (collectively, the “IFRSs”) endorsed and issued into effect by the FSC.

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Basis of Consolidation

The detail information of the subsidiaries at the end of reporting period was as follows:

Percentage of Ownership Interests
Name of Investor Name of Investee Main Businesses and Products March 31,<br><br><br>2026 December 31,2025 March 31,<br><br><br>2025 Note
Chunghwa Telecom Co., Ltd. Senao International Co., Ltd. (“SENAO”) Handset and peripherals retailer, sales of CHT mobile phone plans as an agent 28 28 28 a.
Light Era Development Co., Ltd. (“LED”) Planning and development of real estate and intelligent buildings, and property management 100 100 100
Donghwa Telecom Co., Ltd. (“DHT”) International private leased circuit, IP VPN service, and IP transit services 100 100 100
Chunghwa Telecom Singapore Pte., Ltd. (“CHTS”) International private leased circuit, IP VPN service, and IP transit services 100 100 100
Chunghwa System Integration Co., Ltd. (“CHSI”) Providing system integration services and telecommunications equipment 100 100 100
Chunghwa Investment Co., Ltd. (“CHI”) Investment 89 89 89
CHIEF Telecom Inc. (“CHIEF”) Network integration, internet data center (“IDC”), communications integration and cloud<br>application services 56 56 56 b.
CHYP Multimedia Marketing & Communications Co., Ltd. (“CHYP”) Digital information supply services and advertisement services 100 100 100
Prime Asia Investments Group Ltd. (“Prime Asia”) Investment 100 100 100
Spring House Entertainment Tech. Inc. (“SHE”) Software design services, internet contents production and play, and motion picture production and<br>distribution 56 56 56
Chunghwa Telecom Global, Inc. (“CHTG”) International private leased circuit, internet services, and transit services 100 100 100
Chunghwa Telecom Vietnam Co., Ltd. (“CHTV”) Intelligent energy saving solutions, international circuit, and information and communication<br>technology (“ICT”) services. 100 100 100
Smartfun Digital Co., Ltd. (“SFD”) Providing diversified family education digital services 65 65 65
Chunghwa Telecom Japan Co., Ltd. (“CHTJ”) International private leased circuit, IP VPN service, and IP transit services 100 100 100
Chunghwa Sochamp Technology Inc. (“CHST”) Design, development and production of Automatic License Plate Recognition software and<br>hardware — — — c.
Honghwa International Co., Ltd. (“HHI”) Telecommunications engineering, sales agent of mobile phone plan application and other business<br>services, etc. 100 100 100
Chunghwa Leading Photonics Tech Co., Ltd. (“CLPT”) Production and sale of electronic components and finished products 62 62 70 d.
Chunghwa Telecom (Thailand) Co., Ltd. (“CHTT”) International private leased circuit, IP VPN service, ICT and cloud VAS services 100 100 100

(Continued)

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Percentage of Ownership Interests
Name of Investor Name of Investee Main Businesses and Products March 31,<br><br><br>2026 December 31,2025 March 31,<br><br><br>2025 Note
CHT Security Co., Ltd. (“CHTSC”) Computing equipment installation, wholesale of computing and business machinery equipment and<br>software, management consulting services, data processing services, digital information supply services and internet identity services 57 57 63 e.
International Integrated Systems, Inc. (“IISI”) IT solution provider, IT application consultation, system integration and package solution 45 45 50 f.
Chunghwa Digital Cultural and Creative Capital Co., Ltd (“CDCC Capital”) Investment and management consulting 100 100 100
Chunghwa Telecom Europe GmbH (“CHTEU”) International private leased circuit, internet services, transit services and ICT services 100 100 100
CHT InventAI Co., Ltd. (“CHAI”) AI software, system development, application services, and enterprise consulting 80 100 — g.
Senao International Co., Ltd. Youth Co., Ltd. (“Youth”) Sale of information and communication technologies products 96 96 96
Aval Technologies Co., Ltd. (“Aval”) Sale of information and communication technologies products 100 100 100
Senyoung Insurance Agent Co., Ltd. (“SENYOUNG”) Property and liability insurance agency 100 100 100
Sakuyo Health Science Co., Ltd. (“SAKUYO”) Health product development and supply chain management 100 — — h.
Youth Co., Ltd. ISPOT Co., Ltd. (“ISPOT”) Sale of information and communication technologies products 100 100 100
Aval Technologies Co., Ltd. Wiin Technology Co., Ltd. (“Wiin”) Sale of information and communication technologies products 100 100 100
CHIEF Telecom Inc. Unigate Telecom Inc. (“Unigate”) Telecommunications and internet service 100 100 100
Chief International Corp. (“CIC”) Telecommunications and internet service 100 100 100
Shanghai Chief Telecom Co., Ltd. (“SCT”) Telecommunications and internet service 49 49 49 i.
Chunghwa Investment Co., Ltd. Chunghwa Precision Test Tech. Co., Ltd. (“CHPT”) Production and sale of semiconductor testing components and printed circuit board 34 34 34 j.
Chunghwa Precision Test Tech. Co., Ltd. Chunghwa Precision Test Tech USA Corporation (“CHPT (US)”) Design and after-sale services of semiconductor testing components and printed circuit<br>board 100 100 100
CHPT Japan Co., Ltd. (“CHPT (JP)”) Related services of electronic parts, machinery processed products and printed circuit<br>board 100 100 100
Chunghwa Precision Test Tech. International, Ltd. (“CHPT (International)”) Wholesale and retail of electronic materials, and investment 100 100 100
TestPro Investment Co., Ltd. (“TestPro”) Investment 100 100 100

(Continued)

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Percentage of Ownership Interests
Name of Investor Name of Investee Main Businesses and Products March 31,<br><br><br>2026 December 31,2025 March 31,<br><br><br>2025 Note
TestPro Investment Co., Ltd. NavCore Tech. Co., Ltd (“NavCore”) Sale and manufacturing of smart equipment, smart factory software and hardware integration and<br>technical consulting service 54 54 54
Prime Asia Investments Group Ltd. Chunghwa Hsingta Co., Ltd. (“CHC”) Investment 100 100 100
Chunghwa Precision Test Tech. International, Ltd. Shanghai Taihua Electronic Technology Limited (“STET”) Design of printed circuit board and related consultation service 100 100 100
Su Zhou Precision Test Tech. Ltd. (“SZPT”) Assembly processed of circuit board, design of printed circuit board and related consultation<br>service 100 100 100
International Integrated Systems, Inc. Unitronics Technology Corp. (“UTC”) Development and maintenance of information system 100 100 100
Chunghwa Telecom Singapore Pte., Ltd. Chunghwa Telecom Malaysia SDN. BHD. (“CHTM”) International private leased circuit, IP VPN service, and ICT services 100 100 — k.
Chunghwa Digital Cultural and Creative Capital Co., Ltd Chunghwa Digital Cultural and Creative Fund (“CDCCF”) Investment 1 — — l.

(Concluded)

a. Chunghwa continues to control more than half of seats of the Board of Directors of SENAO through the support of<br>large beneficial stockholders. As a result, the Company treated SENAO as a subsidiary.
b. CHIEF repurchased its stock between February and March 2026 and issued new shares in March 2025 as its<br>employees exercised options. Therefore, the Company’s ownership interest in CHIEF changed to 58.56% and 59.29% as of March 31, 2025 and 2026, respectively.
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c. Chunghwa no longer had more than half of seats of the Board of Directors of CHST since January 2025. As a<br>result, the Company lost control over CHST and recognized CHST as an investment in associate. Please refer to Note 14(c) for details.
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d. CLPT issued new shares in December 2025 as its employees exercised options. Therefore, the Company’s<br>ownership interest in CLPT decreased to 62.03% as of December 31, 2025.
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e. CHTSC conducted its initial public offering through public underwriting in September 2025, and Chunghwa did not<br>participate in the capital increase of CHTSC in accordance with applicable regulations. CHTSC issued new shares in February 2025, May 2025, August 2025 and February 2026 as its employees exercised options. Therefore, the Company’s<br>ownership interest in CHTSC decreased to 63.44%, 56.69% and 56.68% as of March 31, 2025, December 31, 2025 and March 31, 2026, respectively.
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f. IISI was listed in November 2025. Chunghwa did not participate in the capital increase of its initial public<br>offering through public underwriting and disposed of some shares of IISI in accordance with applicable regulations and the price stabilization mechanism. Therefore, the Company’s ownership interest in IISI decreased to 44.53% as of<br>December 31 2025. Chunghwa continues to control more than half of seats of the Board of Directors of IISI. As a result, the Company treated IISI as a subsidiary.
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g. Chunghwa invested in and established CHAI in October 2025. Chunghwa obtained 100% ownership interest of CHAI.<br>CHAI’s founding employees participated in the capital increase of CHAI in January 2026. Therefore, the Company’s ownership interest in CHAI decreased to 80% as of March 31, 2026.
h. SENAO established SAKUYO in March, 2026. SENAO obtained 100% ownership interest of SAKUYO. As of March 31,<br>2026, the investment capital had not been remitted.
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i. CHIEF has more than half of seats of the Board of Directors of SCT according to the mutual agreements among<br>stockholders and gained control over SCT; hence, SCT is deemed as a subsidiary of the Company.
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j. CHI disposed of some shares of CHPT from November to December 2025. Therefore, the Company’s ownership<br>interest in CHPT decreased to 33.74% as of December 31, 2025. Though the Company’s ownership interest in CHPT is less than 50%, the management considered the absolute and relative size of ownership interest, and the dispersion of shares<br>owned by the other stockholders and concluded that the Company has a sufficiently dominant voting interest to direct the relevant activities; hence, CHPT is deemed as a subsidiary of the Company.
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k. CHTS established CHTM in June 2025. The investment capital was remitted in October 2025. CHTS obtained 100%<br>ownership interest in CHTM.
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l. Chunghwa and CDCC Capital jointly established CDCCF in March 2026, with a combined ownership interest of 65%.<br>CDCC Capital acts as the general partner and is responsible for the operation and management of the partnership.
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The following diagram presented information regarding the relationship and percentages of ownership interests between Chunghwa and its subsidiaries as of March 31, 2026.

LOGO

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Other Material Accounting Policies

a. Defined benefit retirement benefits

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 financial year, adjusted for significant market fluctuations since that time and for other significant one-off events.

b. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax. Income taxes for interim period are assessed on an annual basis and calculated by applying to an interim period’s pre-tax income the tax rate that would be applicable to expected total annual earnings.

The measurement of deferred tax assets and liabilities reflects the tax consequences that would follow from the manner in which the Company expects to recover or settle the carrying amount of its assets and liabilities at balance sheet date.

c. Convertible bonds

The component parts of compound instruments (i.e., convertible bonds) issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.

On initial recognition, the fair value of the liability component is estimated using the prevailing market interest rate for similar non-convertible instruments. This amount is recognized as a liability and is subsequently measured at amortized cost using the effective interest method until it is extinguished upon conversion or at maturity.

The conversion option classified as equity is measured as the residual amount, determined by deducting the fair value of the liability component, as separately determined, from the fair value of the compound instrument as a whole. The resulting amount, net of income tax effects, is recognized in equity and is not subsequently remeasured. Upon exercise of the conversion option, the related liability component and the amount recognized in equity are transferred to common stock and additional paid-in capital - share premium. If the conversion option is not exercised upon maturity, the amount recognized in equity is transferred to additional paid-in capital - share premium.

Transaction costs relating to the issuance of convertible bonds are allocated to the liability and equity components in proportion to the gross proceeds allocated to each component. Transaction costs allocated to the liability component are included in the carrying amount of the liability, while transaction costs allocated to the equity component are recognized directly in equity.

4. MATERIAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION, UNCERTAINTY AND ASSUMPTION

In the application of the Company’s accounting policies, the management is required to make judgments, estimates and assumptions which are based on historical experience and other factors that are not readily apparent from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed by the management on an ongoing basis.

For the material accounting judgments and key sources of estimation, uncertainty and assumption applied in these consolidated financial statements, please refer to the consolidated financial statements for the year ended December 31, 2025.

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5. APPLICATION OF NEW AND REVISED STANDARDS AND INTERPRETATIONS
a. Initial application of the amendments to the IFRSs endorsed and issued into effect by the FSC<br>
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The initial application of the amendments to the IFRSs issued by the International Accounting Standards Board and endorsed and issued into effect by the FSC does not have a material impact on the Company’s consolidated financial statements.

The Company has applied the amendments to IFRS 9 and IFRS 7 - Contracts Referencing Nature-dependent Electricity, please refer to Note 41 for details.

b. IFRSs issued by the IASB but not yet endorsed and issued into effect by the FSC
New, Revised or Amended Standards and Interpretations Effective Date<br><br><br>Announced by IASB
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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)
IFRS 19 Subsidiaries without Public Accountability: Disclosures January 1, 2027
Amendments to IAS 21 Translation to a Hyperinflationary Presentation Currency January 1, 2027
Note: The FSC announced in a press release in September 2025 that public companies will apply IFRS 18 starting from<br>fiscal year 2028. In addition, entities may choose to adopt IFRS 18 earlier based on their requirements after the FSC endorses the standard.
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IFRS 18 “Presentation and Disclosure in Financial Statements” will replace IAS 1. The standard introduces a defined structure of the statement of profit or loss, disclosure requirements related to management-defined performance measures, and guidance to enhance the principles of aggregation and disaggregation applying to the primary financial statements and notes.

Except for the above, as of the date the consolidated financial statements were authorized for issue, the Company is continuously assessing the possible impact that the application of above standards and interpretations will have on the Company’s financial position and operating result and will disclose the relevant impact when the assessment is completed.

6. CASH AND CASH EQUIVALENTS
March 31,2026 December 31,2025 March 31,2025
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Cash
Cash on hand $ 240,592 $ 309,644 $ 462,783
Bank deposits 13,823,756 19,103,766 11,020,474
14,064,348 19,413,410 11,483,257
Cash equivalents (with maturities of less than three months)
Commercial paper 10,930,203 8,505,138 14,307,959
Time deposits 8,430,810 8,024,798 3,256,322
Negotiable certificates of deposit 1,800,000 1,000,000 —
Stimulus vouchers 5,430 860 301
21,166,443 17,530,796 17,564,582
$ 35,230,791 $ 36,944,206 $ 29,047,839
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The annual yield rates of bank deposits, commercial paper, time deposits and negotiable certificates of deposit as of balance sheet dates were as follows:

March 31, 2026 December 31,2025 March 31, 2025
Bank deposits 0.00%~1.98% 0.00%~1.98% 0.00%~2.55%
Commercial paper 0.96%~1.56% 0.96%~1.50% 1.07%~1.53%
Time deposits 0.01%~3.60% 0.01%~3.90% 0.01%~4.45%
Negotiable certificates of deposit 1.59%~1.63% 1.64% —
7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS
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March 31, 2026 December 31,2025 March 31, 2025
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Financial assets-current
Mandatorily measured at FVTPL
Derivatives (not designated for hedge)
Forward exchange contracts $ 250 $ 3,372 $ 5,048
Financial assets-noncurrent
Mandatorily measured at FVTPL
Non-derivatives
Non-listed stocks - domestic $ 596,900 $ 616,347 $ 626,277
Non-listed stocks - foreign 25,299 25,652 34,979
Limited partnership - domestic 558,672 499,656 362,982
Other investing agreements 58,454 69,697 58,580
$ 1,239,325 $ 1,211,352 $ 1,082,818
Financial liabilities-current
Held for trading
Derivatives (not designated for hedge)
Forward exchange contracts $ 1,681 $ 3 $ —

Chunghwa’s Board of Directors approved an investment in TRF 1 L.P. at the amount of $300,000 thousand in January 2025. As of March 31, 2026, Chunghwa invested $180,000 thousand.

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Chunghwa’s Board of Directors approved an investment in Taiwania Capital Buffalo Fund VI, L.P. at the amount of $600,000 thousand in January 2022. As of March 31, 2026, Chunghwa invested $400,000 thousand.

Outstanding forward exchange contracts not designated for hedge as of balance sheet dates were as follows:

Currency Contract Amount(In Thousands)
March 31, 2026
Forward exchange contracts - buy NT/ June 2026 NT$129,875/EUR3,500
Forward exchange contracts - buy NT/ April 2026 NT$86,800/USD2,723
December 31, 2025
Forward exchange contracts - buy NT/ March 2026 NT$88,878/EUR2,500
Forward exchange contracts - buy NT/ January 2026 NT$30,039/USD961
March 31, 2025
Forward exchange contracts - buy NT/ June 2025 NT$78,434/EUR2,300
Forward exchange contracts - buy NT/ April 2025 NT$183,337/USD5,560

All values are in US Dollars.

The Company entered into the above forward exchange contracts to manage its exposure to foreign currency risk due to fluctuations in exchange rates. However, the aforementioned derivatives did not meet the criteria for hedge accounting.

8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
March 31, 2026 December 31,2025 March 31, 2025
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Current
Domestic investments
Listed and emerging stocks $ — $ 18,555 $ —
Noncurrent
Domestic investments
Listed and emerging stocks $ 510,659 $ 273,916 $ 117,170
Non-listed stocks 4,574,185 4,923,861 4,446,802
Foreign investments
Listed and emerging stocks 147,138 23,431 —
Non-listed stocks 1,475,043 1,565,595 736,428
$ 6,707,025 $ 6,786,803 $ 5,300,400
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The Company holds the above foreign and domestic stocks for medium to long-term strategic purposes and expects to profit from long-term investment. Accordingly, the management elected to designate these investments in equity instruments at FVOCI as they believe that recognizing short-term fair value fluctuations of these investments in profit or loss is not consistent with the Company’s strategy of holding these investments for long-term purposes.

CHIEF disposed of all its preferred shares in WT Microelectronics Co., Ltd. in February 2026 upon the redemption of the investment. The fair value of the disposed investment was $18,050 thousand, and the cumulative gain on disposal was $556 thousand.

The related unrealized gain on financial assets at FVOCI was transferred from other equity to unappropriated earnings at the amount of $313 thousand upon the aforementioned disposal for the three months ended March 31, 2026.

9. FINANCIAL ASSETS AT AMORTIZED COST - NONCURRENT
March 31, 2026 December 31,2025 March 31, 2025
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Corporate bonds $ 2,020,294 $ 2,020,300 $ 2,000,000

Chunghwa acquired the 10-year unsecured cumulative subordinated corporate bond of Fubon Life Insurance Co., Ltd. at the amount of $2,000,000 thousand in October 2024.

CHTSC acquired the 10-year secured cumulative subordinated corporate bond of Mercuries Life Insurance Co., Ltd. at the amount of $20,300 thousand in December 2025.

10. TRADE NOTES AND ACCOUNTS RECEIVABLE, NET
March 31, 2026 December 31,2025 March 31, 2025
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Trade notes and accounts receivable $ 30,408,159 $ 28,583,184 $ 23,729,417
Less: Loss allowance (1,261,814 ) (1,186,761 ) (1,232,693 )
$ 29,146,345 $ 27,396,423 $ 22,496,724

The main credit terms range from 30 to 90 days.

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

The Company adopted a policy of dealing with counterparties with certain credit ratings for project business and to obtain collateral where necessary to mitigate the risk of loss arising from defaults. Credit rating information is provided by independent rating agencies where available and, if such credit rating information is not available, the Company uses other publicly available financial information and its own historical transaction experience to rate its major customers. The Company continues to monitor the credit exposure and credit ratings of its counterparties and spread the credit risk amongst qualified counterparties.

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

The Company applies the simplified approach to recognize expected credit losses prescribed by IFRS 9, which permits the use of lifetime expected loss provision for receivables. The expected credit losses on receivables are estimated using a provision matrix by reference to past default experience of the customers and an analysis of the customers’ current financial positions, as well as the forward-looking indicators such as macroeconomic business indicators.

When there is evidence indicating that the counterparty is in evasion, bankruptcy, deregistration or the accounts receivable are over two years past due and the recoverable amount cannot be reasonable estimated, the Company writes off the trade notes and accounts receivable. For accounts receivable that have been written off, the Company continues to engage in enforcement activity to attempt to recover the receivables due. Where recoveries are made, these are recognized in profit or loss.

Except for receivables arising from telecommunications business and project business, the Company’s remaining accounts receivable are insignificant. Therefore, only Chunghwa’s provision matrix arising from telecommunications business and project business is disclosed below:

March 31, 2026

Not Past Due Past Due Lessthan 30 Days Past Due<br><br><br>31 to 60 Days Past Due<br><br><br>61 to 90 Days Past Due<br><br><br>91 to 120 Days Past Due<br><br><br>121 to 180 Days Past Due<br><br><br>over 180 Days Total
Telecommunications<br><br><br>business
Expected credit loss rate (Note a) 0%~1% 0%~21% 2%~67% 11%~84% 24%~91% 64%~96% 100%
Gross carrying amount $ 21,188,053 $ 496,784 $ 150,119 $ 98,682 $ 29,781 $ 26,906 $ 619,946 $ 22,610,271
Loss allowance (lifetime ECL) (52,055 ) (93,231 ) (31,130 ) (34,374 ) (22,065 ) (24,901 ) (619,946 ) (877,702 )
Amortized cost $ 21,135,998 $ 403,553 $ 118,989 $ 64,308 $ 7,716 $ 2,005 $ — $ 21,732,569
Project business
Expected credit loss rate (Note b) 0%~5% 5% 10% 30% 50% 80% 100%
Gross carrying amount $ 3,123,608 $ 27,089 $ 96,363 $ 53,327 $ 31,967 $ 4,628 $ 283,952 $ 3,620,934
Loss allowance (lifetime ECL) (1,838 ) (1,354 ) (9,636 ) (15,998 ) (18,546 ) (4,163 ) (283,952 ) (335,487 )
Amortized cost $ 3,121,770 $ 25,735 $ 86,727 $ 37,329 $ 13,421 $ 465 $ — $ 3,285,447

December 31, 2025

Not Past Due Past Due Lessthan 30 Days Past Due<br><br><br>31 to 60 Days Past Due<br><br><br>61 to 90 Days Past Due<br><br><br>91 to 120 Days Past Due<br><br><br>121 to 180 Days Past Due<br><br><br>over 180 Days Total
Telecommunications<br><br><br>business
Expected credit loss rate (Note a) 0%~1% 2%~21% 2%~67% 13%~84% 27%~91% 55%~96% 100%
Gross carrying amount $ 16,807,075 $ 418,784 $ 173,148 $ 41,197 $ 37,662 $ 29,047 $ 615,221 $ 18,122,134
Loss allowance (lifetime ECL) (52,137 ) (27,067 ) (31,146 ) (34,576 ) (30,721 ) (26,420 ) (615,221 ) (817,288 )
Amortized cost $ 16,754,938 $ 391,717 $ 142,002 $ 6,621 $ 6,941 $ 2,627 $ — $ 17,304,846
Project business
Expected credit loss rate (Note b) 0%~5% 5% 10% 30% 50% 80% 100%
Gross carrying amount $ 5,635,620 $ 51,025 $ 5,712 $ 26,064 $ 43,229 $ 65 $ 286,482 $ 6,048,197
Loss allowance (lifetime ECL) (2,477 ) (2,551 ) (571 ) (7,819 ) (28,740 ) (52 ) (286,482 ) (328,692 )
Amortized cost $ 5,633,143 $ 48,474 $ 5,141 $ 18,245 $ 14,489 $ 13 $ — $ 5,719,505
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March 31, 2025

Not Past Due Past Due Lessthan 30 Days Past Due<br><br><br>31 to 60 Days Past Due<br><br><br>61 to 90 Days Past Due<br><br><br>91 to 120 Days Past Due<br><br><br>121 to 180 Days Past Due<br><br><br>over 180 Days Total
Telecommunications<br><br><br>business
Expected credit loss rate (Note a) 0%~1% 2%~22% 2%~68% 12%~84% 22%~91% 41%~96% 100%
Gross carrying amount $ 16,194,883 $ 410,585 $ 193,720 $ 74,541 $ 47,009 $ 38,940 $ 601,885 $ 17,561,563
Loss allowance (lifetime ECL) (69,927 ) (39,443 ) (36,873 ) (33,611 ) (26,641 ) (24,956 ) (601,885 ) (833,336 )
Amortized cost $ 16,124,956 $ 371,142 $ 156,847 $ 40,930 $ 20,368 $ 13,984 $ — $ 16,728,227
Project business
Expected credit loss rate (Note b) 0%~5% 5% 10% 30% 50% 80% 100%
Gross carrying amount $ 2,716,339 $ 37,725 $ 24,380 $ 11,347 $ 126,291 $ 1,597 $ 279,018 $ 3,196,697
Loss allowance (lifetime ECL) (2,704 ) (1,862 ) (2,438 ) (3,404 ) (63,222 ) (1,277 ) (279,018 ) (353,925 )
Amortized cost $ 2,713,635 $ 35,863 $ 21,942 $ 7,943 $ 63,069 $ 320 $ — $ 2,842,772
Note a: Please refer to Note 45 for the information of disaggregation of telecommunications service revenue. The<br>expected credit loss rate applicable to different business revenue varies so as to reflect the risk level indicating by factors like historical experience.
--- ---
Note b: The project business has different loss types according to the customer types. The expected credit loss rate<br>listed above is for general customers. When the customer is a government-affiliated entity, it is anticipated that there will not be an instance of credit loss. Customers with past history of bounced checks or accounts receivable exceeding six<br>months overdue are classified as high-risk customers, with an expected credit loss rate of 50%, increasing by period as the days overdue increase.
--- ---

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

Three Months Ended March 31
2026 2025
Beginning balance $ 1,186,761 $ 1,142,610
Add: Provision for credit loss 132,612 117,733
Less: Amounts written off (57,559 ) (27,650 )
Ending balance $ 1,261,814 $ 1,232,693
11. INVENTORIES
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Merchandise $ 4,642,794 $ 4,025,028 $ 4,341,573
Project in process 7,214,158 6,293,607 5,001,963
Work in process 358,405 252,069 176,035
Raw materials 312,095 279,059 190,163
12,527,452 10,849,763 9,709,734
Land held under development 1,998,733 1,998,733 1,998,733
Construction in progress 378,248 330,099 207,874
$ 14,904,433 $ 13,178,595 $ 11,916,341
  • 19 -

The operating costs related to inventories were $14,266,303 thousand (including the inventory valuation and obsolescence losses of $19,063 thousand) and $11,954,062 thousand (including the inventory valuation and obsolescence losses of $38,153 thousand) for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, December 31, 2025 and March 31, 2025, inventories of $2,376,981 thousand, $2,328,832 thousand and $2,206,607 thousand, respectively, were expected to be realized from the sale after more than twelve months. The aforementioned amount of inventories is related to property development owned by LED.

Land held under development and construction in progress was mainly developed by LED for Qingshan Sec., Dayuan Dist., Taoyuan City project. The Board of Directors of LED resolved to sign a joint construction and separate sale contract with Farglory Land Development Co., Ltd. in June 2021. LED entrusts Land Bank of Taiwan to execute fund control and property right management for the land held under development.

Construction in progress also included the Datong S. Sec., Sanchong Dist., New Taipei City project. The Board of Directors of Chunghwa resolved to sign a joint construction with separate sale and partition contract with LED in August 2021. Chunghwa classified the land of the project as investment properties.

Regarding the aforementioned two projects, the Company has signed the house and land presale contracts with customers and has received payments in accordance with the contracts. Please refer to Notes 30 and 40 for details.

12. PREPAYMENTS
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Prepayments for leases - satellite (Note 40) $ 5,076,744 $ 4,841,078 $ 3,471,382
Prepaid salary and bonus 3,158,402 4,121 3,082,019
Prepaid rents 1,443,148 1,480,703 1,747,363
Others 4,693,465 3,395,044 2,897,785
$ 14,371,759 $ 9,720,946 $ 11,198,549
Current
Prepaid salary and bonus $ 3,158,402 $ 4,121 $ 3,082,019
Prepaid rents 435,414 484,166 494,567
Others 4,604,119 3,301,446 2,832,246
$ 8,197,935 $ 3,789,733 $ 6,408,832
Noncurrent
Prepayments for leases - satellite (Note 40) $ 5,076,744 $ 4,841,078 $ 3,471,382
Prepaid rents 1,007,734 996,537 1,252,796
Others 89,346 93,598 65,539
$ 6,173,824 $ 5,931,213 $ 4,789,717

Prepaid rents comprised the prepayments from the lease agreements applying the recognition exemption and the prepayments for leases that do not meet the definition of leases under IFRS 16.

  • 20 -
13. OTHER CURRENT MONETARY ASSETS
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Time deposits, negotiable certificates of deposit and commercial paper with maturities of more<br>than three months $ 30,449,833 $ 20,538,447 $ 35,042,708
Receivables from the Fund for Privatization of Government - owned Enterprises under the Executive<br>Yuan 1,102,459 1,088,979 13,219
Accrued custodial receipts 1,013,442 751,744 809,717
Others 1,060,168 1,088,353 907,715
$ 33,625,902 $ 23,467,523 $ 36,773,359

The annual yield rates of time deposits, negotiable certificates of deposit and commercial paper with maturities of more than three months at the balance sheet dates were as follows:

March 31, 2026 December 31,2025 March 31, 2025
Time deposits, negotiable certificates of deposit and commercial paper with maturities of more<br>than three months 0.40%~4.00% 0.03%~4.16% 0.03%~5.10%
14. SUBSIDIARIES
--- ---
a. Information on subsidiaries with material noncontrolling interests
--- ---
Principal Proportion of OwnershipInterests and Voting Rights Heldby Noncontrolling Interests
--- --- --- --- --- --- --- --- --- --- --- ---
Subsidiaries Place ofBusiness March 31,2026 December 31,2025 March 31,2025
SENAO Taiwan 72 % 72 % 72 %
CHPT Taiwan 66 % 66 % 66 %
Profit Allocated toNoncontrolling Interests AccumulatedNoncontrolling Interests
--- --- --- --- --- --- --- --- --- --- ---
Three Months Ended March 31 March 31, December 31, March 31,
2026 2025 2026 2025 2025
SENAO $ 46,677 $ 82,718 $ 4,445,001 $ 4,684,240 $ 4,462,311
CHPT $ 223,532 $ 142,154 6,504,883 5,820,850 5,449,884
Individually immaterial subsidiaries with noncontrolling interests 4,170,540 4,027,275 2,959,159
$ 15,120,424 $ 14,532,365 $ 12,871,354
  • 21 -

Summarized financial information in respect of SENAO and its subsidiaries that has material noncontrolling interests is set out below. The summarized financial information below represented amounts before intercompany eliminations.

March 31, 2026 December 31,2025 March 31, 2025
Current assets $ 7,693,177 $ 7,103,734 $ 6,315,261
Noncurrent assets 3,585,328 3,589,800 3,709,616
Current liabilities (4,808,973 ) (3,889,511 ) (3,480,860 )
Noncurrent liabilities (353,167 ) (355,212 ) (404,000 )
Equity $ 6,116,365 $ 6,448,811 $ 6,140,017
Equity attributable to the parent $ 1,671,364 $ 1,764,571 $ 1,677,706
Equity attributable to noncontrolling interests 4,445,001 4,684,240 4,462,311
$ 6,116,365 $ 6,448,811 $ 6,140,017
Three Months Ended March 31
--- --- --- --- --- --- ---
2026 2025
Revenues and income $ 8,734,830 $ 7,646,727
Costs and expenses 8,669,816 7,531,442
Profit for the period $ 65,014 $ 115,285
Profit attributable to the parent $ 18,337 $ 32,567
Profit attributable to noncontrolling interests 46,677 82,718
Profit for the period $ 65,014 $ 115,285
Other comprehensive income attributable to the parent $ 798 $ 786
Other comprehensive income attributable to noncontrolling interests 2,034 2,004
Other comprehensive income for the period $ 2,832 $ 2,790
Total comprehensive income attributable to the parent $ 19,135 $ 33,353
Total comprehensive income attributable to noncontrolling interests 48,711 84,722
Total comprehensive income for the period $ 67,846 $ 118,075
Net cash flow from operating activities $ 352,656 $ (326,746 )
Net cash flow from investing activities (6,049 ) (14,732 )
Net cash flow from financing activities (375,509 ) (75,820 )
Effect of exchange rate changes on cash and cash equivalents 34 1
Net cash outflow $ (28,868 ) $ (417,297 )
  • 22 -

Summarized financial information in respect of CHPT and its subsidiaries that has material noncontrolling interests is set out below. The summarized financial information below represented amounts before intercompany eliminations.

March 31, 2026 December 31,2025 March 31, 2025
Current assets $ 9,080,342 $ 5,929,648 $ 5,273,480
Noncurrent assets 4,151,275 4,020,936 4,138,193
Current liabilities (1,476,942 ) (1,157,583 ) (1,113,385 )
Noncurrent liabilities (1,941,087 ) (12,573 ) (18,752 )
Equity $ 9,813,588 $ 8,780,428 $ 8,279,536
Equity attributable to CHI $ 3,308,705 $ 2,959,578 $ 2,829,652
Equity attributable to noncontrolling interests 6,504,883 5,820,850 5,449,884
$ 9,813,588 $ 8,780,428 $ 8,279,536
Three Months Ended March 31
--- --- --- --- --- --- ---
2026 2025
Revenues and income $ 1,387,385 $ 1,170,288
Costs and expenses 1,048,504 952,384
Profit for the period $ 338,881 $ 217,904
Profit attributable to CHI $ 115,349 $ 75,750
Profit attributable to noncontrolling interests 223,532 142,154
Profit for the period $ 338,881 $ 217,904
Other comprehensive income attributable to CHI $ 6,737 $ 1,320
Other comprehensive income attributable to noncontrolling interests 13,231 2,534
Other comprehensive income for the period $ 19,968 $ 3,854
Total comprehensive income attributable to CHI $ 122,086 $ 77,070
Total comprehensive income attributable to noncontrolling interests 236,763 144,688
Total comprehensive income for the period $ 358,849 $ 221,758
Net cash flow from operating activities $ 378,312 $ 582,333
Net cash flow from investing activities (1,617,842 ) (16,753 )
Net cash flow from financing activities 2,558,367 (10,160 )
Effect of exchange rate changes on cash and cash equivalents 6,089 4,580
Net cash inflow $ 1,324,926 $ 560,000
  • 23 -
b. Equity transactions with noncontrolling interests

The below transactions were accounted for as equity transactions since the Company did not cease to have control over these subsidiaries for the three months ended March 31, 2026 and 2025; related information was as follows or refer to Note 3 “Basis of Consolidation”:

Three Months Ended March 31, 2026
NotParticipating inthe CapitalIncrease ofCHAI CHTSCShare-BasedPayment<br><br><br>(Note 34(b) and(c)) CHIEF<br><br><br>Purchased ItsTreasury Stock
Cash consideration received from (paid to) noncontrolling interest $ 30,000 $ 76 $ (347,503 )
The proportionate share of the carrying amount of the net assets of the subsidiary transferred<br>from (to) noncontrolling interests (29,734 ) 33 169,147
Differences arising from equity transactions $ 266 $ 109 $ (178,356 )
Line items for equity transaction adjustments
Additional paid-in capital - arising from changes in equities of subsidiaries $ 266 $ 109 $ (178,356 )
Three Months Ended<br>March 31, 2025
--- --- --- --- --- ---
CHTSCShare-BasedPayment<br><br><br>(Note 34(b) and(c)) CHIEFShare-BasedPayment<br><br><br>(Note 34(a))
Cash consideration received from noncontrolling interests $ 95 $ 1,165
The proportionate share of the carrying amount of the net assets of the subsidiary transferred<br>from (to) noncontrolling interests (184 ) 8,176
Differences arising from equity transactions $ (89 ) $ 9,341
Line items for equity transaction adjustments
Additional paid-in capital - arising from changes in equities of subsidiaries $ (89 ) $ 9,341
  • 24 -
c. Loss of control of subsidiaries

Chunghwa no longer had more than half of seats of the Board of Directors of CHST since January 2025. As a result, the Company lost control over CHST and recognized CHST as an investment in associate.

The Company recognized the retained interest in CHST at the fair value on the date control was lost; therefore, the Company recognized the disposal gain of $15,290 thousand based on the difference between the fair value and the carrying amount. The disposal gain was included in other gains and losses in the consolidated statements of comprehensive income.

Analysis of assets and liabilities over which the Company lost control:

CHST
Current assets
Cash and cash equivalents $ 8,664
Contract assets 9,132
Trade notes and accounts receivable, net 9,148
Inventories 6,521
Others 6,631
Noncurrent assets
Property, plant and equipment 202
Right-of-use assets 3,369
Deferred income tax assets 1,645
Others 12,415
Current liabilities
Short-term loans (65,000 )
Contract liabilities (7,376 )
Trade notes and accounts payable (9,036 )
Others (2,309 )
Noncurrent liabilities
Customers’ deposits (7,126 )
Others (1,704 )
Net liabilities $ (34,824 )
15. INVESTMENTS ACCOUNTED FOR USING EQUITY METHOD
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Investments in associates $ 8,675,806 $ 8,447,049 $ 9,114,825
Investment in joint venture 9,083 9,083 9,188
$ 8,684,889 $ 8,456,132 $ 9,124,013
  • 25 -
a. Investments in associates

Investments in associates were as follows:

Carrying Amount
March 31, 2026 December 31,2025 March 31, 2025
Material associate
Non-listed
Next Commercial Bank Co., Ltd. (“NCB”) $ 3,485,990 $ 3,591,348 $ 3,871,773
Associates that are not individually material
Listed
Senao Networks, Inc. (“SNI”) 2,028,535 2,023,706 2,051,979
KingwayTek Technology Co., Ltd. (“KWT”) 268,490 265,349 284,437
Non-listed
Viettel-CHT Co., Ltd. (“Viettel-CHT”) 615,032 581,860 605,329
Taiwan International Standard Electronics Co., Ltd. (“TISE”) 417,132 378,089 390,400
ST-2 Satellite Ventures Pte., Ltd. (“STS”) 409,245 344,530 364,913
WiAdvance Technology Corporation (“WATC”) 258,061 260,570 270,306
Chunghwa PChome Fund I Co., Ltd. (“CPFI”) 250,736 252,258 251,256
Joint Journey Creative Co., Ltd. (“JJC”) 239,669 — —
Taiwania Hive Technology Fund L.P. (“TWTF”) 228,855 234,057 270,060
Taiwan International Ports Logistics Corporation (“TIPL”) 143,188 135,189 143,208
So-net Entertainment Taiwan Limited (“So-net”) 79,199 126,836 180,792
Porrima Inc. (“PORRIMA”) 72,425 73,731 76,679
CHT Infinity Singapore Pte., Ltd. (“CISG”) 54,251 53,947 58,097
Imedtac Co., Ltd. (“IME”) 51,838 53,608 56,431
Click Force Co., Ltd. (“CF”) 41,471 41,579 50,320
Baohwa Trust Co., Ltd. (“BHT”) 20,412 18,269 13,400
Gather Works Co., Ltd. (“GW”) 11,277 12,123 —
KKBOX Taiwan Co., Ltd. (“KKBOXTW”) — — 143,944
AgriTalk Technology Inc. (“ATT”) — — 26,228
Cornerstone Ventures Co., Ltd. (“CVC”) — — 5,273
Chunghwa Sochamp Technology Inc. (“CHST”) (Note 14) — — —
5,189,816 4,855,701 5,243,052
$ 8,675,806 $ 8,447,049 $ 9,114,825
  • 26 -

The percentages of ownership interests and voting rights in associates held by the Company as of balance sheet dates were as follows:

% of Ownership Interests and Voting Rights
March 31, 2026 December 31,2025 March 31, 2025
Material associate
Non-listed
Next Commercial Bank Co., Ltd. (“NCB”) 46 46 46
Associates that are not individually material
Listed
Senao Networks, Inc. (“SNI”) 33 33 33
KingwayTek Technology Co., Ltd. (“KWT”) 23 23 23
Non-listed
Viettel-CHT Co., Ltd. (“Viettel-CHT”) 30 30 30
Taiwan International Standard Electronics Co., Ltd. (“TISE”) 40 40 40
ST-2 Satellite Ventures Pte., Ltd. (“STS”) 38 38 38
WiAdvance Technology Corporation (“WATC”) 16 16 16
Chunghwa PChome Fund I Co., Ltd. (“CPFI”) 50 50 50
Joint Journey Creative Co., Ltd. (“JJC”) 20 — —
Taiwania Hive Technology Fund L.P. (“TWTF”) 40 40 42
Taiwan International Ports Logistics Corporation (“TIPL”) 27 27 27
So-net Entertainment Taiwan Limited<br>(“So-net”) 30 30 30
Porrima Inc. (“PORRIMA”) 9 9 10
CHT Infinity Singapore Pte., Ltd. (“CISG”) 40 40 40
Imedtac Co., Ltd. (“IME”) 10 10 10
Click Force Co., Ltd. (“CF”) 49 49 49
Baohwa Trust Co., Ltd. (“BHT”) 25 25 25
Gather Works Co., Ltd. (“GW”) 48 48 —
KKBOX Taiwan Co., Ltd. (“KKBOXTW”) — — 30
AgriTalk Technology Inc. (“ATT”) — — 29
Cornerstone Ventures Co., Ltd. (“CVC”) — — 49
Chunghwa Sochamp Technology Inc. (“CHST”) (Note 14) 37 37 37
  • 27 -

Summarized financial information of NCB was set out below:

March 31, 2026 December 31,2025 March 31, 2025
Assets $ 72,737,510 $ 65,359,868 $ 51,785,156
Liabilities (65,165,728 ) (57,556,996 ) (43,366,071 )
Equity $ 7,571,782 $ 7,802,872 $ 8,419,085
The percentage of ownership interest held by the Company 46.26% 46.26% 46.26%
Equity attributable to the Company $ 3,502,706 $ 3,609,609 $ 3,894,668
Unrealized gain or loss from downstream transactions (16,716 ) (18,261 ) (22,895 )
The carrying amount of investment $ 3,485,990 $ 3,591,348 $ 3,871,773
Three Months Ended March 31
--- --- --- --- --- --- ---
2026 2025
Net revenues $ 142,456 $ 89,521
Net loss for the period $ (209,257 ) $ (183,577 )
Other comprehensive income (loss) (21,833 ) 9,142
Total comprehensive loss for the period $ (231,090 ) $ (174,435 )

Except for NCB, no associate is considered individually material to the Company. Summarized financial information of associates that are not individually material to the Company was as follows:

Three Months Ended March 31
2026 2025
The Company’s share of profits $ 80,282 $ 124,276
The Company’s share of other comprehensive income (loss) (2,424 ) 3,708
The Company’s share of total comprehensive income $ 77,858 $ 127,984

The Level 1 fair values of associates based on the closing market prices as of the balance sheet dates were as follows:

March 31, 2026 December 31,2025 March 31, 2025
SNI $ 2,124,696 $ 2,555,510 $ 3,857,743
KWT $ 773,365 $ 794,988 $ 932,362

The Company participated in the capital increase of JJC at the amount of $240,000 thousand in March 2026 and obtained 20.00% ownership interest. JJC mainly engages in film production and investment.

  • 28 -

The Company did not participate in the capital increase of PORRIMA in December 2025. Therefore, the Company’s ownership interest in PORRIMA decreased to 9.26% as of December 31, 2025. As the Company has one out of five seats of the Board of Directors of PORRIMA, the Company has significant influence over PORRIMA.

The Company disposed of all its shares of KKBOXTW in November 2025.

The Company disposed of all its shares of ATT in October 2025.

CVC completed its liquidation in August 2025.

CHST was approved to end and dissolve its business in July 2025.

KWT repurchased its stock between April 2025 and May 2025. Therefore, the Company’s ownership interest in KWT changed to 22.78% as of December 31, 2025.

The Company invested in and obtained 48.00% ownership interest in GW in April 2025. GW mainly engages in film and drama IP development, copyright management and copyright sales.

Chunghwa’s Board of Directors approved the Company’s participation in TWTF in February 2024. The investment amount was USD 30,000 thousand. TWTF raised capital in multiple stages. New capital was received in April 2025, resulting in an increase in the fund size; therefore, the Company’s ownership interest in TWTF changed to 39.81% as of December 31, 2025. As of March 31, 2026, Chunghwa had invested the amount of $288,405 thousand (USD 9,000 thousand).

The Company invested in and obtained 16.24% ownership interest in WATC. However, as the Company continues to control one out of five seats of the Board of Directors of WATC, the Company has significant influence over WATC.

The Company invested in and obtained 10.00% ownership interest in IME. As the Company continues to control one out of five seats of the Board of Directors of IME, the Company has significant influence over IME.

Although Chunghwa is the single largest stockholder of NCB, it only obtained six out of fifteen seats of the Board of Directors of NCB. In addition, the management considered the size of ownership interest and the dispersion of shares owned by the other stockholders, other holdings are not extremely dispersed. Chunghwa is not able to direct its relevant activities. Therefore, Chunghwa does not have control over NCB and merely has significant influence over NCB and treats it as an associate.

The Company invested in and obtained 50% ownership interest in CPFI. However, as the Company has only two out of five seats of the Board of Directors of CPFI, the Company has no control but significant influence over CPFI. Therefore, the Company recognized CPFI as an investment in associate.

The Company’s share of profits and other comprehensive income (loss) of associates was recognized based on the reviewed financial statements.

  • 29 -
b. Investment in joint venture

Investment in joint venture was as follows:

Carrying Amount % of Ownership Interests and Voting Rights
Name of Joint Venture March 31,2026 December 31,2025 March 31,2025 March 31,2026 December 31,2025 March 31,2025
Non-listed
Chunghwa SEA Holdings (“CHT SEA”) $ 9,083 $ 9,083 $ 9,188 51% 51% 51%

The Company invested in and established a joint venture, CHT SEA, with Delta Electronics, Inc. and Kwang Hsing Industrial Co., Ltd. and obtained 51% ownership interest of CHT SEA. However, according to the mutual agreements among stockholders, the Company does not individually direct CHT SEA’s relevant activities and has joint control with the other party; therefore, the Company treated CHT SEA as a joint venture. CHT SEA was approved to end and dissolve its business in June 2025. The liquidation of CHT SEA is still in process.

The joint venture is not considered individually material to the Company. Summarized financial information of CHT SEA was set out below:

Three Months Ended March 31
2026 2025
The Company’s share of loss $ — $ (63 )
The Company’s share of other comprehensive income — —
The Company’s share of total comprehensive loss $ — $ (63 )

The Company’s share of loss and other comprehensive income of the joint venture was recognized based on the reviewed financial statements.

16. PROPERTY, PLANT AND EQUIPMENT
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Assets used by the Company $ 277,528,462 $ 282,492,876 $ 280,810,739
Assets subject to operating leases 5,304,388 5,671,949 5,779,228
$ 282,832,850 $ 288,164,825 $ 286,589,967
a. Assets used by the Company
--- ---
Land LandImprovements Buildings ComputerEquipment Telecommuni-cationsEquipment TransportationEquipment MiscellaneousEquipment Construction inProgress andEquipment tobe Accepted Total
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Cost
Balance on January 1, 2025 $ 102,346,031 $ 1,749,614 $ 74,178,077 $ 10,448,407 $ 718,353,045 $ 4,183,540 $ 12,680,123 $ 16,572,752 $ 940,511,589
Additions — — 1,037 16,471 64,065 — 6,621 3,904,326 3,992,520
Disposal — — (90 ) (49,055 ) (2,067,426 ) (81,274 ) (47,767 ) — (2,245,612 )
Effect of deconsolidation of subsidiaries (Note 14) — — — — — (2,009 ) (3,213 ) — (5,222 )
Effect of foreign exchange differences — — — 31 26,393 156 2,808 2,702 32,090
Construction in progress reclassification — 8,211 18,390 16,109 4,895,068 115,166 47,746 (5,100,690 ) —
Others (459,049 ) — (394,935 ) (468 ) 15,242 — 52,388 (22,294 ) (809,116 )
Balance on March 31, 2025 $ 101,886,982 $ 1,757,825 $ 73,802,479 $ 10,431,495 $ 721,286,387 $ 4,215,579 $ 12,738,706 $ 15,356,796 $ 941,476,249

(Continued)

  • 30 -
Land LandImprovements Buildings ComputerEquipment Telecommuni-cationsEquipment TransportationEquipment MiscellaneousEquipment Construction inProgress andEquipment tobe Accepted Total
Accumulated depreciation<br><br><br>and impairment
Balance on January 1, 2025 $ — $ (1,543,373 ) $ (34,721,367 ) $ (8,727,171 ) $ (597,674,608 ) $ (3,629,903 ) $ (9,500,403 ) $ — $ (655,796,825 )
Depreciation expenses — (11,497 ) (377,384 ) (163,282 ) (6,411,938 ) (44,292 ) (227,324 ) — (7,235,717 )
Disposal — — 90 49,052 2,066,645 81,274 47,401 — 2,244,462
Effect of deconsolidation of subsidiaries (Note 14) — — — — — 2,009 3,011 — 5,020
Effect of foreign exchange differences — — — (27 ) (17,877 ) (95 ) (1,850 ) — (19,849 )
Others — — 148,868 (79 ) 1,673 (417 ) (12,646 ) — 137,399
Balance on March 31, 2025 $ — $ (1,554,870 ) $ (34,949,793 ) $ (8,841,507 ) $ (602,036,105 ) $ (3,591,424 ) $ (9,691,811 ) $ — $ (660,665,510 )
Balance on January 1, 2025, net $ 102,346,031 $ 206,241 $ 39,456,710 $ 1,721,236 $ 120,678,437 $ 553,637 $ 3,179,720 $ 16,572,752 $ 284,714,764
Balance on March 31, 2025, net $ 101,886,982 $ 202,955 $ 38,852,686 $ 1,589,988 $ 119,250,282 $ 624,155 $ 3,046,895 $ 15,356,796 $ 280,810,739
Cost
Balance on January 1, 2026 $ 101,971,845 $ 1,794,528 $ 74,629,733 $ 10,295,349 $ 724,562,165 $ 3,941,719 $ 15,404,552 $ 15,205,490 $ 947,805,381
Additions — — 3,227 24,475 39,748 — 15,022 3,723,084 3,805,556
Disposal — — (158 ) (320,498 ) (4,737,577 ) (53,582 ) (136,576 ) — (5,248,391 )
Effect of foreign exchange differences — — — 163 28,014 16 4,603 101 32,897
Construction in progress reclassification — 9,705 1,980,557 9,417 3,899,209 5,566 47,861 (5,952,315 ) —
Others 48,090 — (1,271,494 ) 38 24,252 — 69,246 (40,775 ) (1,170,643 )
Balance on March 31, 2026 $ 102,019,935 $ 1,804,233 $ 75,341,865 $ 10,008,944 $ 723,815,811 $ 3,893,719 $ 15,404,708 $ 12,935,585 $ 945,224,800
Accumulated depreciation<br><br><br>and impairment
Balance on January 1, 2026 $ — $ (1,592,669 ) $ (36,057,723 ) $ (8,368,125 ) $ (603,719,379 ) $ (3,384,978 ) $ (12,189,631 ) $ — $ (665,312,505 )
Depreciation expenses — (15,321 ) (406,369 ) (183,679 ) (6,549,999 ) (45,630 ) (226,016 ) — (7,427,014 )
Disposal — — 158 319,990 4,737,105 53,582 133,621 — 5,244,456
Effect of foreign exchange differences — — — (50 ) (18,624 ) 16 (3,568 ) — (22,226 )
Others — — (159,228 ) (69 ) (981 ) (488 ) (18,283 ) — (179,049 )
Balance on March 31, 2026 $ — $ (1,607,990 ) $ (36,623,162 ) $ (8,231,933 ) $ (605,551,878 ) $ (3,377,498 ) $ (12,303,877 ) $ — $ (667,696,338 )
Balance on January 1, 2026, net $ 101,971,845 $ 201,859 $ 38,572,010 $ 1,927,224 $ 120,842,786 $ 556,741 $ 3,214,921 $ 15,205,490 $ 282,492,876
Balance on March 31, 2026, net $ 102,019,935 $ 196,243 $ 38,718,703 $ 1,777,011 $ 118,263,933 $ 516,221 $ 3,100,831 $ 12,935,585 $ 277,528,462

(Concluded)

There was no indication that property, plant and equipment was impaired; therefore, the Company did not recognize any impairment loss for the three months ended March 31, 2026 and 2025.

Depreciation expense for assets used by the Company is computed using the straight-line method over the following estimated service lives:

Land improvements 10~30 years
Buildings
Main buildings 20~60 years
Other building facilities 3~15 years
Computer equipment 1~8 years
Telecommunications equipment
Telecommunication circuits 2~30 years
Telecommunication machinery and antennas equipment 2~30 years
Transportation equipment 3~10 years
Miscellaneous equipment
Leasehold improvements 1~18 years
Mechanical and air conditioner equipment 2~16 years
Others 1~15 years
b. Assets subject to operating leases
--- ---
Land Buildings Total
--- --- --- --- --- --- ---
Cost
Balance on January 1, 2025 $ 3,104,874 $ 3,737,084 $ 6,841,958
Others 459,049 351,848 810,897
Balance on March 31, 2025 $ 3,563,923 $ 4,088,932 $ 7,652,855

(Continued)

  • 31 -
Land Buildings Total
Accumulated depreciation and impairment
Balance on January 1, 2025 $ — $ (1,716,578 ) $ (1,716,578 )
Depreciation expenses — (17,869 ) (17,869 )
Others — (139,180 ) (139,180 )
Balance on March 31, 2025 $ — $ (1,873,627 ) $ (1,873,627 )
Balance on January 1, 2025, net $ 3,104,874 $ 2,020,506 $ 5,125,380
Balance on March 31, 2025, net $ 3,563,923 $ 2,215,305 $ 5,779,228
Cost
Balance on January 1, 2026 $ 3,455,877 $ 4,134,878 $ 7,590,755
Additions — 63 63
Others (222,909 ) (307,881 ) (530,790 )
Balance on March 31, 2026 $ 3,232,968 $ 3,827,060 $ 7,060,028
Accumulated depreciation and impairment
Balance on January 1, 2026 $ — $ (1,918,806 ) $ (1,918,806 )
Depreciation expenses — (16,744 ) (16,744 )
Others — 179,910 179,910
Balance on March 31, 2026 $ — $ (1,755,640 ) $ (1,755,640 )
Balance on January 1, 2026, net $ 3,455,877 $ 2,216,072 $ 5,671,949
Balance on March 31, 2026, net $ 3,232,968 $ 2,071,420 $ 5,304,388

(Concluded)

The Company leases out land and buildings with lease terms between 1 to 20 years. The lessees do not have bargain purchase options to acquire the assets at the expiry of the lease periods.

The future aggregate lease collection under operating lease for the freehold plant, property and equipment was as follows:

March 31, 2026 December 31,2025 March 31, 2025
Year 1 $ 290,784 $ 285,779 $ 316,153
Year 2 187,884 194,419 185,488
Year 3 133,379 134,983 122,211
Year 4 89,196 84,697 90,854
Year 5 63,442 58,286 56,926
Onwards 134,495 129,977 125,534
$ 899,180 $ 888,141 $ 897,166

The above items of property, plant and equipment subject to operating leases are depreciated on a straight-line basis over their estimated useful lives as follows:

Buildings
Main buildings 35~60 years
Other building facilities 3~15 years
  • 32 -
17. LEASE ARRANGEMENTS
a. Right-of-use assets
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Land and buildings
Handsets base stations $ 7,558,532 $ 7,687,671 $ 7,755,557
Others 1,446,026 1,492,427 1,805,447
Equipment 1,471,178 1,583,811 1,759,561
$ 10,475,736 $ 10,763,909 $ 11,320,565
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Additions to right-of-use assets $ 849,092 $ 1,560,497
Depreciation charge for right-of-use assets
Land and buildings
Handsets base stations $ 756,997 $ 759,682
Others 198,497 201,303
Equipment 119,972 114,392
$ 1,075,466 $ 1,075,377

The Company did not have significant sublease or impairment of right-of-use assets for the three months ended March 31, 2026 and 2025.

b. Lease liabilities
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Lease liabilities
Current $ 3,950,500 $ 3,889,510 $ 3,738,416
Noncurrent 6,574,169 7,000,631 7,462,150
$ 10,524,669 $ 10,890,141 $ 11,200,566

Ranges of discount rates for lease liabilities were as follows:

March 31, 2026 December 31,2025 March 31, 2025
Land and buildings
Handsets base stations 0.37%~2.00% 0.37%~2.00% 0.37%~2.00%
Others 0.37%~9.00% 0.37%~9.00% 0.37%~9.00%
Equipment 0.42%~3.50% 0.37%~3.50% 0.37%~3.50%
  • 33 -
c. Important lease-in activities and terms

The Company mainly enters into lease-in agreements of land and buildings for handsets base stations located throughout Taiwan with lease terms ranging from 1 to 20 years. The lease agreements do not contain bargain purchase options to acquire the assets at the expiration of the respective leases. For majority of the lease-in agreements on handsets base station, the Company has the right to terminate the agreement prior to the expiration date if the Company is unable to build the required telecommunication equipment, either due to legal restrictions, controversial events, or other events.

The Company also leases land and buildings for the use of offices, server rooms, and stores with lease terms from 1 to 50 years. Most of the lease agreements for national land adjust the lease payment according to the changes of the announced land values by the authority. At the expiry of the lease term, the Company does not have bargain purchase options to acquire the assets.

The lease agreements for equipment include a contract between Chunghwa and ST-2 Satellite Ventures Pte., Ltd. to lease capacity on the ST-2 satellite. For the information of lease agreements with related parties, please refer to Note 38 for details.

d. Other lease information
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Expenses relating to low-value asset leases $ 3,010 $ 2,254
Expenses relating to variable lease payments not included in the measurement of lease<br>liabilities $ 1,947 $ 1,604
Total cash outflow for leases $ 1,206,639 $ 1,244,847

The Company leases certain equipment which qualifies as low-value asset leases. The Company has elected to apply the recognition exemption and, thus, not to recognize right-of-use assets and lease liabilities for these leases.

Lease-out arrangements under operating leases for freehold property, plant, and equipment and investment properties were set out in Notes 16 and 18.

18. INVESTMENT PROPERTIES
Cost
--- --- --- ---
Balance on January 1, 2025 $ 13,592,694
Additions 2,067
Balance on March 31, 2025 $ 13,594,761
Accumulated depreciation and impairment
Balance on January 1, 2025 $ (1,290,975 )
Depreciation expense (11,225 )
Balance on March 31, 2025 $ (1,302,200 )
Balance on January 1, 2025, net $ 12,301,719
Balance on March 31, 2025, net $ 12,292,561

(Continued)

  • 34 -
Cost
Balance on January 1, 2026 $ 13,743,246
Reclassification 1,702,786
Balance on March 31, 2026 $ 15,446,032
Accumulated depreciation and impairment
Balance on January 1, 2026 $ (1,322,928 )
Depreciation expense (17,701 )
Reclassification (2,545 )
Balance on March 31, 2026 $ (1,343,174 )
Balance on January 1, 2026, net $ 12,420,318
Balance on March 31, 2026, net $ 14,102,858

(Concluded)

Depreciation expense is computed using the straight-line method over the following estimated service lives:

Land improvements 15~30 years
Buildings
Main buildings 8~60 years
Other building facilities 10~35 years

The fair values of the Company’s investment properties as of December 31, 2025 and 2024 were determined by Level 3 fair value measurements inputs based on the appraisal reports conducted by independent appraisers. The Company used the aforementioned appraisal reports as the basis to determine the fair values as of March 31, 2026 and 2025 because there was no material change in the economic environment or the market transaction price. Those appraisal reports are based on the comparison approach, income approach or cost approach. Key assumptions and the fair values were as follows:

March 31, 2026
Fair value 52,787,926 43,263,149 $41,286,825
Overall capital interest rate 1.30%~6.11% 1.30%~6.11% 1.47%~5.81%
Profit margin ratio 12%~20% 12%~20% 12%~20%
Discount rate 0%~10% 0%~10% 0%~10%
Capitalization rate 0.64%~1.59% 0.64%~1.59% 1.12%~2.13%

All values are in US Dollars.

All of the Company’s investment properties are held under freehold interest.

The future aggregate lease collection under operating lease for investment properties is as follows:

March 31, 2026 December 31,2025 March 31, 2025
Year 1 $ 321,578 $ 309,328 $ 279,978
Year 2 284,677 271,912 247,592
Year 3 257,900 243,186 215,352

(Continued)

  • 35 -
March 31, 2026 December 31,2025 March 31, 2025
Year 4 $ 247,772 $ 236,844 $ 194,029
Year 5 218,359 214,399 188,972
Onwards 1,184,908 1,232,947 1,259,643
$ 2,515,194 $ 2,508,616 $ 2,385,566

(Concluded)

19. INTANGIBLE ASSETS
MobileBroadbandConcession ComputerSoftware Goodwill Others Total
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Cost
Balance on January 1, 2025 $ 109,963,431 $ 2,427,063 $ 291,206 $ 418,959 $ 113,100,659
Additions-acquired separately — 31,914 — 837 32,751
Disposal — (49,639 ) — (351 ) (49,990 )
Effect of foreign exchange differences — 155 — 15 170
Balance on March 31, 2025 $ 109,963,431 $ 2,409,493 $ 291,206 $ 419,460 $ 113,083,590
Accumulated amortization and impairment
Balance on January 1, 2025 $ (44,592,555 ) $ (1,877,275 ) $ (73,624 ) $ (274,003 ) $ (46,817,457 )
Amortization expenses (1,597,536 ) (65,113 ) — (6,238 ) (1,668,887 )
Disposal — 49,639 — 351 49,990
Effect of foreign exchange differences — (35 ) — (10 ) (45 )
Balance on March 31, 2025 $ (46,190,091 ) $ (1,892,784 ) $ (73,624 ) $ (279,900 ) $ (48,436,399 )
Balance on January 1, 2025 net $ 65,370,876 $ 549,788 $ 217,582 $ 144,956 $ 66,283,202
Balance on March 31, 2025 net $ 63,773,340 $ 516,709 $ 217,582 $ 139,560 $ 64,647,191
Cost
Balance on January 1, 2026 $ 109,963,431 $ 2,321,204 $ 291,206 $ 420,138 112,995,979
Additions-acquired separately — 161,400 — 558 161,958
Disposal — (35,530 ) — (348 ) (35,878 )
Effect of foreign exchange differences — 382 — (25 ) 357
Others — 333 — — 333
Balance on March 31, 2026 $ 109,963,431 $ 2,447,789 $ 291,206 $ 420,323 $ 113,122,749
Accumulated amortization and impairment
Balance on January 1, 2026 $ (50,982,693 ) $ (1,880,427 ) $ (73,624 ) $ (297,060 ) $ (53,233,804 )
Amortization expenses (1,597,535 ) (62,248 ) — (4,157 ) (1,663,940 )
Disposal — 35,530 — 348 35,878
Effect of foreign exchange differences — (94 ) — 17 (77 )
Others — — — — —
Balance on March 31, 2026 $ (52,580,228 ) $ (1,907,239 ) $ (73,624 ) $ (300,852 ) $ (54,861,943 )

(Continued)

  • 36 -
MobileBroadbandConcession ComputerSoftware Goodwill Others Total
Balance on January 1, 2026 net $ 58,980,738 $ 440,777 $ 217,582 $ 123,078 $ 59,762,175
Balance on March 31, 2026 net $ 57,383,203 $ 540,550 $ 217,582 $ 119,471 $ 58,260,806

(Concluded)

The concessions are granted and issued by the National Communications Commission (“NCC”). The concession fees are amortized using the straight-line method over the period from the date operations commence through the date the license expires or the useful life, whichever is shorter. The 4G concession fees will be fully amortized by December 2030 and December 2033 and 5G concession fees will be fully amortized by December 2040.

The computer software is amortized using the straight-line method over the estimated useful lives of 1 to 10 years. Other intangible assets, except for those assessed as having indefinite useful lives, are amortized using the straight-line method over the estimated useful lives of 3 to 20 years. Goodwill is not amortized.

20. OTHER ASSETS
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Spare parts $ 2,629,897 $ 2,140,664 $ 1,908,601
Refundable deposits 1,959,083 1,974,565 2,120,994
Other financial assets 1,000,000 1,000,000 1,000,000
Prepayments for investments — 650,000 —
Others 3,591,550 3,170,244 3,040,567
$ 9,180,530 $ 8,935,473 $ 8,070,162
Current
Spare parts $ 2,629,897 $ 2,140,664 $ 1,908,601
Others 1,403,216 1,300,555 1,086,055
$ 4,033,113 $ 3,441,219 $ 2,994,656
Noncurrent
Refundable deposits $ 1,959,083 $ 1,974,565 $ 2,120,994
Other financial assets 1,000,000 1,000,000 1,000,000
Prepayments for investments — 650,000 —
Others 2,188,334 1,869,689 1,954,512
$ 5,147,417 $ 5,494,254 $ 5,075,506

Other financial assets - noncurrent was Piping Fund. As part of the government’s effort to upgrade the existing telecommunications infrastructure, Chunghwa and other public utility companies were required by the ROC government to contribute to a Piping Fund administered by the Taipei City Government. This fund was used to finance various telecommunications infrastructure projects. Net assets of this fund will be returned proportionately after the project is completed.

Prepayments for investments consisted of a total of $650,000 thousand jointly invested by Chunghwa and CDCC Capital in CDCCF in December 2025.

  • 37 -
21. HEDGING FINANCIAL INSTRUMENTS

Chunghwa’s hedge strategy is to enter into forward exchange contracts - buy to avoid its foreign currency exposure to certain foreign currency denominated equipment payments in the following six months. In addition, Chunghwa’s management considers the market condition to determine the hedge ratio and enters into forward exchange contracts with the banks to avoid the foreign currency risk.

Chunghwa signed equipment purchase contracts with suppliers and entered into forward exchange contracts to avoid foreign currency risk exposure to Euro-denominated purchase commitments. Those forward exchange contracts were designated as cash flow hedges. When forecast purchases actually take place, basis adjustments are made to the initial carrying amounts of hedged items.

For the hedges of highly probable forecast sales and purchases, as the critical terms (i.e. the notional amount, life and underlying) of the forward foreign exchange contracts and their corresponding hedged items are the same, the Company performs a qualitative assessment of effectiveness and it is expected that the value of the forward contracts and the value of the corresponding hedged items will systematically change in opposite direction in response to movements in the underlying exchange rates.

The main source of hedge ineffectiveness in these hedging relationships is the effect of credit risks of the Company and the counterparty on the fair value of the forward exchange contracts. Such credit risks do not impact the fair value of the hedged item attributable to changes in foreign exchange rates. No other sources of ineffectiveness emerged from these hedging relationships.

The following tables summarized the information relating to the hedges for foreign currency risk.

March 31, 2026

ForwardRate Line Item in Carrying Amount Change in FairValues ofHedgingInstruments Usedfor CalculatingHedge
Hedging Instruments Currency (In Dollars) Balance Sheet Asset Liability Ineffectiveness
Cash flow hedge
Forecast purchases - forward exchange contracts NT$ / NT 129,828/ 3,500 June 2026 $ 37.09 Hedging financial<br>assets (liabilities) $ — $ 1,619 $ (4,767 )

All values are in Euros.

Change inValue ofHedged ItemUsed for<br><br><br>CalculatingHedgeIneffectiveness Accumulated Gain or Loss on Hedging Instruments in Other Equity
Hedged Items ContinuingHedges HedgeAccountingNo LongerApplied
Cash flow hedge
Forecast equipment purchases $ 4,767 $ (1,619 ) $ —
  • 38 -

December 31, 2025

Forward<br><br><br>Rate Line Item in Carrying Amount Change in FairValues ofHedgingInstruments Usedfor CalculatingHedge
Hedging Instruments Currency (In Dollars) Balance Sheet Asset Liability Ineffectiveness
Cash flow hedge
Forecast purchases - forward exchange contracts NT$ / NT 88,878 / 2,500 March 2026 $ 35.55 Hedging financial<br>assets (liabilities) $ 3,204 $ — $ 2,071
Forecast purchases - forward exchange contracts NT$ / NT 55,383 / 1,500 January 2026 36.92 Hedging financial<br>assets (liabilities) — 56 1,851

All values are in Euros.

Change inValue ofHedged ItemUsed for<br><br><br>CalculatingHedgeIneffectiveness Accumulated Gain or Loss on Hedging Instruments in Other Equity
Hedged Items ContinuingHedges HedgeAccountingNo LongerApplied
Cash flow hedge
Forecast equipment purchases $ (3,922 ) $ 3,148 $ —

March 31, 2025

ForwardRate Line Item in CarryingAmount Change in FairValues ofHedgingInstruments Usedfor CalculatingHedge
Hedging Instruments Currency (In Dollars) Balance Sheet Asset Liability Ineffectiveness
Cash flow hedge
Forecast purchases - forward exchange contracts NT$ / NT 6,067/ 170 June 2025 $ 35.69 Hedging financial<br>assets (liabilities) $ 30 $ — $ 804

All values are in Euros.

Change inValue ofHedged ItemUsed for<br><br><br>CalculatingHedgeIneffectiveness Accumulated Gain or Loss on Hedging Instruments in Other Equity
Hedged Items ContinuingHedges HedgeAccountingNo LongerApplied
Cash flow hedge
Forecast equipment purchases $ (804 ) $ 30 $ —
  • 39 -

Three months ended March 31, 2026

Comprehensive Income Reclassification fromEquityto Assets and the Adjusted Line Item
Hedge Transaction HedgingGain orLossRecognized in OCI Amount ofHedgeIneffectivenessRecognized inProfit or Loss Line Item inWhich HedgeIneffectivenessis Included AmountReclassified toAssets and theAdjusted LineItem Due to HedgedFuture CashFlows No Longer<br><br><br>Expected toOccur
Cash flow hedge
Forecast equipment purchases $ (4,767 ) $ — — $        3,665 $ —
Construction in progress and equipment to be accepted Other gains and<br>losses

Three months ended March 31, 2025

Comprehensive Income Reclassification fromEquityto Assets and the Adjusted Line Item
Hedge Transaction HedgingGain orLossRecognized in OCI Amount ofHedgeIneffectivenessRecognized inProfit or Loss Line Item inWhich HedgeIneffectivenessis Included AmountReclassified toAssets and theAdjusted LineItem Due to HedgedFuture CashFlows No Longer<br><br><br>Expected toOccur
Cash flow hedge
Forecast equipment purchases $ 804 $ — — $        1,626 $ —
Construction in progress and equipment to be accepted Other gains and<br>losses
22. SHORT-TERM LOANS
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Unsecured bank loans $ 540,000 $ 340,000 $ 530,000
The annual interest rates of bank loans were as<br>follows:
March 31, 2026 December 31,2025 March 31, 2025
Unsecured bank loans 1.82%~2.29% 2.05%~2.08% 2.29%~2.35%
  • 40 -
23. LONG-TERM LOANS
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- --- --- --- --- ---
Secured bank loans (Note 39) $ 1,600,000 $ 1,600,000 $ 1,600,000
Unsecured bank loans — — 35,000
Less: Current portion — — (5,833 )
$ 1,600,000 $ 1,600,000 $ 1,629,167
The annual interest rates of bank loans were as<br>follows:
March 31, 2026 December 31,2025 March 31, 2025
Secured bank loans 2.10% 2.10% 2.10%
Unsecured bank loans — — 2.22%

LED obtained a secured loan from Chang Hwa Bank with monthly interest payments. LED entered into a contract with Chang Hwa Bank to renew the contract upon the maturity of the aforementioned contract in August 2024, and the due date of the renewed contract is September 2027.

CLPT entered into an unsecured loan contract with Mega International Commercial Bank, and interest was paid monthly. The loan was fully repaid in July 2025.

24. BONDS PAYABLE
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- --- --- --- ---
Unsecured domestic bonds $ 25,200,000 $ 25,200,000 $ 30,500,000
Unsecured domestic convertible bonds 2,000,000 — —
Less: Discounts on bonds payable (113,150 ) (11,862 ) (10,397 )
27,086,850 25,188,138 30,489,603
Less: Current portion (5,399,058 ) (1,899,856 ) (8,799,350 )
$ 21,687,792 $ 23,288,282 $ 21,690,253

The major terms of unsecured domestic bonds issued by Chunghwa were as follows:

Issuance Tranche Issuance Period TotalAmount CouponRate Repayment and Interest Payment
2020-1 A July 2020 to July 2025 $ 8,800,000 0.50 % One-time repayment upon maturity; interest payable annually
B July 2020 to July 2027 7,500,000 0.54 % The same as above
C July 2020 to July 2030 3,700,000 0.59 % The same as above
2021-1 A April 2021 to April 2026 1,900,000 0.42 % The same as above
B April 2021 to April 2028 4,100,000 0.46 % The same as above
C April 2021 to April 2031 1,000,000 0.50 % The same as above
2022-1<br><br><br>(Sustainable Bond) - March 2022 to March 2027 3,500,000 0.69 % The same as above
2025-1<br><br><br>(Sustainable Bond) - August 2025 to August 2030 3,500,000 1.73 % The same as above
  • 41 -

The major terms of unsecured domestic convertible bonds issued by CHPT were as follows:

Issuance Tranche Issuance Period TotalAmount CouponRate Repayment and Interest Payment
2026-1 - January 2026 to January 2029 $ 2,000,000 0.00 % One-time repayment upon maturity

The major conversion terms are as follows:

a. Bondholders may request CHPT to convert the bonds into CHPT’s common shares at any time during the period<br>from the date after three months of the bond issued to the maturity date.
b. The conversion price of the convertible bonds was set at NT$2,016.8 per share. The convertible bonds included<br>both liability and equity components. The proceeds from issuance was $2,563,336 thousand. The equity component was $674,165 thousand; and liability component on the date of issuance was $1,889,171 thousand.
--- ---
25. TRADE NOTES AND ACCOUNTS PAYABLE
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Trade notes and accounts payable $ 13,845,531 $ 15,922,842 $ 10,692,983

Trade notes and accounts payable were attributable to operating activities and the trading conditions were agreed separately.

26. OTHER PAYABLES
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Accrued salary and compensation $ 8,582,105 $ 11,408,186 $ 7,924,564
Accrued compensation to employees and remuneration to directors and supervisors 3,493,301 2,783,132 3,105,520
Amounts collected for others 2,000,291 1,969,693 1,999,761
Payables to contractors 1,875,068 2,484,267 1,003,031
Accrued maintenance costs 1,014,718 1,209,557 986,069
Payables to equipment suppliers 408,138 556,637 713,642
Others 8,679,738 8,304,670 7,853,902
$ 26,053,359 $ 28,716,142 $ 23,586,489
27. PROVISIONS
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Decommissioning liabilities $ 304,053 $ 300,562 $ —
Onerous contracts 256,912 260,983 266,103
Warranties 252,462 252,310 273,114

(Continued)

  • 42 -
March 31, 2026 December 31,2025 March 31, 2025
Employee benefits $ 245,781 $ 254,888 $ 421,373
Others 45,240 16,273 15,915
$ 1,104,448 $ 1,085,016 $ 976,505
Current $ 541,388 $ 524,743 $ 668,780
Noncurrent 563,060 560,273 307,725
$ 1,104,448 $ 1,085,016 $ 976,505

(Concluded)

Decommiss-<br><br><br>ioningliabilities OnerousContracts Warranties EmployeeBenefits Others Total
Balance on January 1, 2025 $ — $ 266,755 $ 280,679 $ 415,477 $ 13,574 $ 976,485
Additional / (reversal of) provisions recognized — (706 ) 23,103 10,121 2,658 35,176
Used / forfeited during the period — — (30,690 ) (4,225 ) (317 ) (35,232 )
Effect of foreign exchange differences — 54 22 — — 76
Balance on March 31, 2025 $ — $ 266,103 $ 273,114 $ 421,373 $ 15,915 $ 976,505
Balance on January 1, 2026 $ 300,562 $ 260,983 $ 252,310 $ 254,888 $ 16,273 $ 1,085,016
Additional / (reversal of) provisions recognized 3,491 (4,111 ) 29,811 7,798 31,651 68,640
Used / forfeited during the period — — (29,724 ) (16,905 ) (2,684 ) (49,313 )
Effect of foreign exchange differences — 40 65 — — 105
Balance on March 31, 2026 $ 304,053 $ 256,912 $ 252,462 $ 245,781 $ 45,240 $ 1,104,448
a. The provision for warranty claims represents the present value of the management’s best estimate of the<br>future outflow of economic benefits that will be required under the Company’s obligation for warranties in sales agreements. The estimate has been made based on historical warranty experience.
--- ---
b. The provision for employee benefits represents vested long-term service compensation accrued.<br>
--- ---
c. The provision for onerous contracts represents the present obligation resulting from the measurement for the<br>unavoidable costs of meeting the Company’s contractual obligations exceed the economic benefits expected to be received from the contracts.
--- ---
d. The provision for decommissioning liabilities represents the Company’s obligations to dismantle, remove<br>the asset and restore the site for certain handsets base stations in the future. A provision is recognized for the costs to be incurred for fulfilling these obligations.
--- ---
  • 43 -
28. RETIREMENT BENEFIT PLANS

Relevant pension costs for defined benefit plans which were determined by the pension cost rates of actuarial valuation as of December 31, 2025 and 2024 were as follows:

Three Months Ended March 31
2026 2025
Operating costs $ 76,136 $ 80,433
Marketing expenses 61,668 63,244
General and administrative expenses 15,140 15,130
Research and development expenses 7,451 7,076
$ 160,395 $ 165,883
29. EQUITY
--- ---
a. Share capital
--- ---
1) Common stocks
--- ---
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Number of authorized shares (thousand) 12,000,000 12,000,000 12,000,000
Authorized shares $ 120,000,000 $ 120,000,000 $ 120,000,000
Number of issued and paid shares (thousand) 7,757,447 7,757,447 7,757,447
Issued shares $ 77,574,465 $ 77,574,465 $ 77,574,465

Each issued common stock with par value of $10 is entitled the right to vote and receive dividends.

2) Global depositary receipts

The MOTC and some stockholders sold some common stocks of Chunghwa in an international offering of securities in the form of American Depositary Shares (“ADS”) (one ADS represents 10 common stocks) in July 2003, August 2005, and September 2006. The ADSs were traded on the New York Stock Exchange since July 17, 2003. As of March 31, 2026, the outstanding ADSs were 184,858 thousand common stocks, which equaled 18,486 thousand units and represented 2.38% of Chunghwa’s total outstanding common stocks.

The ADS holders generally have the same rights and obligations as other common stockholders, subject to the provision of relevant laws. The exercise of such rights and obligations shall comply with the related regulations and deposit agreement, which stipulate, among other things, that ADS holders are entitled to, through deposit agents:

a) Exercise their voting rights,
b) Sell their ADSs, and
--- ---
c) Receive dividends declared and subscribe to the issuance of new shares.
--- ---
  • 44 -
b. Additional paid-in capital

The adjustments of additional paid-in capital for the three months ended March 31, 2026 and 2025 were as follows:

SharePremium Movements ofAdditionalPaid-in Capitalfor Associatesand JointVenturesAccounted forUsing EquityMethod Movements ofAdditionalPaid-inCapitalArising fromChanges inEquities ofSubsidiaries DifferencebetweenConsiderationReceived orPaid andCarryingAmount oftheSubsidiaries’Net Assetsduring ActualDisposal orAcquisition DonatedCapital Stockholders’Contribution dueto Privatization Total
Balance on January 1, 2025 $ 147,329,386 $ 223,835 $ 2,145,041 $ 1,211,494 $ 29,445 $ 20,648,078 $ 171,587,279
Changes in equities of subsidiaries — — 9,252 — — — 9,252
Balance on March 31, 2025 $ 147,329,386 $ 223,835 $ 2,154,293 $ 1,211,494 $ 29,445 $ 20,648,078 $ 171,596,531
Balance on January 1, 2026 $ 147,329,386 $ 217,906 $ 2,778,923 $ 1,445,222 $ 31,371 $ 20,648,078 $ 172,450,886
Change in additional paid-in capital for not participating in the capital increase of a<br>subsidiary — — 266 — — — 266
Changes in equities of subsidiaries — — 22,690 — — — 22,690
Balance on March 31, 2026 $ 147,329,386 $ 217,906 $ 2,801,879 $ 1,445,222 $ 31,371 $ 20,648,078 $ 172,473,842

Additional paid-in capital from share premium, donated capital and the difference between the consideration received or paid and the carrying amount of the subsidiaries’ net assets during actual disposal or acquisition may be utilized to offset deficits. Furthermore, when Chunghwa has no deficit, it may be distributed in cash or capitalized, which however is limited to a certain percentage of Chunghwa’s paid-in capital except the additional paid-in capital arising from unclaimed dividend can only be utilized to offset deficits.

The additional paid-in capital from movements of paid-in capital arising from changes in equities of subsidiaries may only be utilized to offset deficits.

Among additional paid-in capital from movements of investments in associates and joint ventures accounted for using equity method, the portion arising from the difference between the consideration received or paid and the carrying amount of the subsidiaries net assets during actual disposal or acquisition may be utilized to offset deficits; furthermore, when the Company has no deficit, it may be distributed in cash or capitalized. However, other additional paid-in capital recognized in proportion of share ownership may only be utilized to offset deficits.

c. Retained earnings and dividends policy

In accordance with the Chunghwa’s Articles of Incorporation, Chunghwa must pay all outstanding taxes, offset deficits in prior years and set aside a legal reserve equal to 10% of its net income before distributing a dividend or making any other distribution to stockholders, except when the accumulated amount of such legal reserve equals to Chunghwa’s total issued capital, and depending on its business needs or requirements, may also set aside or reverse special reserves. No less than 50% of the remaining earnings comprising remaining balance of net income, if any, plus cumulative undistributed earnings shall be distributed as stockholders’ dividends, of which cash dividends to be distributed shall not be less than 50% of the total amount of dividends to be distributed. If cash dividend to be distributed is less than $0.10 per share, such cash dividend shall be distributed in the form of common stocks.

The Company should appropriate a special reserve when the net amount of other equity items is negative at the end of reporting period upon the earnings distribution. Distributions can be made out of any subsequent reversal of the debit to other equity items.

The appropriation for legal reserve shall be made until the accumulated reserve equals the aggregate par value of the outstanding capital stock of Chunghwa. This reserve can only be used to offset a deficit, or, when the legal reserve has exceeded 25% of Chunghwa’s paid-in capital, the excess may be transferred to capital or distributed in cash.

  • 45 -

The appropriations of the 2025 earnings of Chunghwa proposed by the Chunghwa’s Board of Directors on February 26, 2026 and the appropriations of the 2024 earnings of Chunghwa approved by the stockholders in their meetings on May 29, 2025 were as follows:

Appropriation of Earnings Dividends Per Share(NT)
For FiscalYear 2025 For FiscalYear 2024 For FiscalYear 2025 For FiscalYear 2024
Cash dividends $ 40,338,722 $ 38,787,232 $ 5.000

All values are in US Dollars.

The appropriations of earnings for 2025 are subject to the resolution of the stockholders’ meeting planned to be held on May 29, 2026. Information of the appropriation of Chunghwa’s earnings proposed by the Board of Directors and approved by the stockholders is available on the Market Observation Post System website.

d. Others
1) Exchange differences arising from the translation of the foreign operations
--- ---

The exchange differences arising from the translation of the foreign operations from their functional currency to New Taiwan dollars were recognized as exchange differences arising from the translation of the foreign operations in other comprehensive income.

2) Unrealized gain or loss on financial assets at FVOCI
Three Months Ended March 31
--- --- --- --- --- ---
2026 2025
Beginning balance $ 1,208,700 $ 563,605
Recognized for the period
Unrealized gain or loss
Equity instruments (125,185 ) 569,284
Share of gain (loss) of associates and joint ventures accounted for using equity method (15,378 ) 4,898
Transferred accumulated gain or loss to unappropriated earnings resulting from the disposal of<br>equity instruments (Note 8) (313 ) —
Ending balance $ 1,067,824 $ 1,137,787
30. REVENUES
--- ---
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Revenue from contracts with customers $ 59,380,637 $ 55,164,052
Other revenues
Government grants income 318,631 379,865
Rental income 230,049 213,485

(Continued)

  • 46 -
Three Months Ended March 31
2026 2025
Others $ 59,118 $ 51,007
607,798 644,357
$ 59,988,435 $ 55,808,409

(Concluded)

For the information of performance obligations related to customer contracts, please refer to Note 3 Summary of Material Accounting Policy Information to the consolidated financial statements for the year ended December 31, 2025 for details.

a. Disaggregation of revenue

Please refer to Note 45 Segment Information for details.

b. Contract balances
March 31, 2026 December 31,2025 March 31,2025 January 1,2025
--- --- --- --- --- --- --- --- --- --- --- --- ---
Trade notes and accounts receivable (Note 10) $ 29,146,345 $ 27,396,423 $ 22,496,724 $ 26,025,696
Contract assets
Products and service bundling $ 11,156,908 $ 10,991,761 $ 10,483,736 $ 10,445,758
Others 2,515,412 2,345,625 2,380,593 2,306,854
Less: Loss allowance (28,668 ) (27,818 ) (23,969 ) (23,845 )
$ 13,643,652 $ 13,309,568 $ 12,840,360 $ 12,728,767
Current $ 8,809,445 $ 8,576,194 $ 8,486,649 $ 8,401,343
Noncurrent 4,834,207 4,733,374 4,353,711 4,327,424
$ 13,643,652 $ 13,309,568 $ 12,840,360 $ 12,728,767
Contract liabilities
Telecommunications business $ 13,588,170 $ 13,541,048 $ 13,836,198 $ 13,931,238
Project business 13,321,469 12,061,031 8,180,447 8,014,350
Advance house and land receipts (Notes 11 and 40) 1,333,524 1,227,575 1,064,150 1,064,150
Others 1,050,552 1,033,868 908,715 831,978
$ 29,293,715 $ 27,863,522 $ 23,989,510 $ 23,841,716
Current $ 22,646,787 $ 21,296,124 $ 16,582,177 $ 16,300,986
Noncurrent 6,646,928 6,567,398 7,407,333 7,540,730
$ 29,293,715 $ 27,863,522 $ 23,989,510 $ 23,841,716
  • 47 -

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

The Company applies the simplified approach to recognize expected credit losses prescribed by IFRS 9, which permits the use of lifetime expected loss provision for receivables. Contract assets will be reclassified to trade receivables when the corresponding invoice is billed to the client. Contract assets have substantially the same risk characteristics as the trade receivables of the same types of contracts. Therefore, the Company concluded that the expected loss rates for trade receivables can be applied to the contract assets.

c. Incremental costs of obtaining contracts
March 31, 2026 December 31,2025 March 31, 2025
--- --- --- --- --- --- ---
Current
Incremental costs of obtaining contracts $ 338,581 $ 338,581 $ 339,172
Noncurrent
Incremental costs of obtaining contracts $ 1,051,918 $ 1,109,029 $ 1,209,212

The Company considered the past experience and the default clauses in the telecommunications service contracts and believes the commissions and equipment subsidies paid for obtaining such contracts are expected to be recoverable; therefore, such costs were capitalized. The Company also believes the commissions paid for obtaining real estate sale contracts are expected to be recoverable; therefore, such costs were capitalized. Amortization expenses for the three months ended March 31, 2026 and 2025 are $232,964 thousand and $238,217 thousand, respectively.

31. NET INCOME
a. Other income and expenses
--- ---
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Gain on disposal of property, plant and equipment, net $ 1,927 $ 1,018
b. Other income
--- ---
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Rental income $ 17,951 $ 19,222
Dividend income 669 —
Others 22,490 19,226
$ 41,110 $ 38,448
  • 48 -
c. Other gains and losses
Three Months Ended March 31
--- --- --- --- --- --- ---
2026 2025
Valuation gain (loss) on financial assets and liabilities at fair value through profit or loss,<br>net $ (31,717 ) $ 193
Foreign currency exchange loss, net (6,377 ) (39,187 )
Gain on disposal of subsidiaries — 15,290
Others (7,188 ) (1,414 )
$ (45,282 ) $ (25,118 )
d. Interest expenses
--- ---
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Interest on bonds payable $ 54,259 $ 41,978
Interest on lease liabilities 38,278 37,391
Interest paid to financial institutions 9,858 9,732
Others 121 256
$ 102,516 $ 89,357
e. Impairment loss (reversal of impairment loss)
--- ---
Three Months Ended March 31
--- --- --- --- --- ---
2026 2025
Contract assets $ 850 $ 124
Trade notes and accounts receivable $ 132,612 $ 117,733
Other receivables $ (1,388 ) $ 1,678
Inventories $ 19,063 $ 38,153
f. Depreciation and amortization expenses
--- ---
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Property, plant and equipment $ 7,443,758 $ 7,253,586
Right-of-use assets 1,075,466 1,075,377
Investment properties 17,701 11,225
Intangible assets 1,663,940 1,668,887
Incremental costs of obtaining contracts 232,964 238,217
Total depreciation and amortization expenses $ 10,433,829 $ 10,247,292
Depreciation expenses summarized by functions
Operating costs $ 7,957,186 $ 7,787,168
Operating expenses 579,739 553,020
$ 8,536,925 $ 8,340,188

(Continued)

  • 49 -
Three Months Ended March 31
2026 2025
Amortization expenses summarized by functions
Operating costs $ 1,852,009 $ 1,862,288
Marketing expenses 20,996 23,525
General and administrative expenses 14,768 12,150
Research and development expenses 9,131 9,141
$ 1,896,904 $ 1,907,104

(Concluded)

g. Employee benefit expenses
Three Months Ended March 31
--- --- --- --- ---
2026 2025
Post-employment benefit
Defined contribution plans $ 321,352 $ 289,836
Defined benefit plans 160,395 165,883
481,747 455,719
Share-based payment
Equity-settled share-based payment — 1,225
Other employee benefit (Note) 12,780,294 12,010,134
Total employee benefit expenses $ 13,262,041 $ 12,467,078
Summary by functions
Operating costs $ 6,156,190 $ 5,776,994
Operating expenses 7,105,851 6,690,084
$ 13,262,041 $ 12,467,078

Note: Other employee benefit mainly includes salaries, compensation and labor and health insurance expenses, etc.

According to the Chunghwa’s Articles of Incorporation, Chunghwa distributes employees’ compensation at the rates from 2% to 5% and remuneration to directors not higher than 0.17%, respectively, of pre-tax income. According to the amendments to the Chunghwa’s Articles of Incorporation approved by the Chunghwa’s stockholders in their meeting on May 29, 2025, no less than 20% of the total employees’ compensation shall be distributed to non-executive employees.

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

The compensation to the employees and remuneration to the directors of 2025 and 2024 approved by the Board of Directors on February 26, 2026 and February 26, 2025, respectively, were as follows. The compensation to the employees and remuneration to the directors of 2025 will be reported to the stockholders in their meeting planned to be held on May 29, 2026.

Cash
2025 2024
Compensation distributed to the employees $ 2,111,610 $ 1,931,610
Remuneration paid to the directors 42,133 40,440
  • 50 -

There was no difference between the initial accrued amounts recognized in 2025 and 2024 and the amounts approved by the Board of Directors in 2026 and 2025 of the aforementioned compensation to employees and the remuneration to directors.

Information of the appropriation of Chunghwa’s employees compensation and remuneration to directors and those approved by the Board of Directors is available on the Market Observation Post System website.

32. INCOME TAX
a. Income tax recognized in profit or loss
--- ---

The major components of income tax expense were as follows:

Three Months Ended March 31
2026 2025
Current tax
Current tax expenses recognized for the period $ 2,534,393 $ 2,533,710
Income tax adjustments on prior years (6,756 ) 713
Others 211 17
2,527,848 2,534,440
Deferred tax
Deferred tax expenses recognized for the period 45,155 (31,240 )
Income tax recognized in profit or loss $ 2,573,003 $ 2,503,200

The applicable tax rate used by the entities subject to the Income Tax Act of the Republic of China is 20%. Tax rates used by other entities of the Company operating in other jurisdictions are based on the tax laws in those jurisdictions.

b. Income tax examinations

Income tax returns of Chunghwa have been examined by the tax authorities through 2022; income tax returns of SENAO, SENYOUNG, CHYP, CHSI, LED, CHPT, NavCore, TestPro, SFD, CLPT, IISI and UTC have been examined by the tax authorities through 2023; and income tax returns of CHI, CHIEF, Unigate, SHE, CHTSC, HHI, Youth, ISPOT, Aval and Wiin have been examined by the tax authorities through 2024.

c. Pillar Two Model Rules

The application of the Pillar Two rules does not have a material impact on the Company’s consolidated financial statements. The Company will continue to review the possible impact on the Company’s future financial performance.

  • 51 -
33. EARNINGS PER SHARE (“EPS”)

Net income and weighted average number of common stocks used in the calculation of earnings per share were as follows:

Net Income

Three Months Ended March 31
2026 2025
Net income used to compute the basic earnings per share
Net income attributable to the parent $ 10,109,931 $ 9,799,194
Assumed conversion of all dilutive potential common stocks
Employee stock options and employee compensation of subsidiaries (909 ) (622 )
Convertible bonds issued by a subsidiairy (926 ) —
Net income used to compute the diluted earnings per share $ 10,108,096 $ 9,798,572

Weighted Average Number of Common Stocks

(Thousand Shares)
Three Months Ended March 31
2026 2025
Weighted average number of common stocks used to compute the basic earnings per share 7,757,447 7,757,447
Assumed conversion of all dilutive potential common stocks
Employee compensation 14,051 13,572
Weighted average number of common stocks used to compute the diluted earnings per share 7,771,498 7,771,019

As Chunghwa may settle the employee compensation in shares or cash, Chunghwa shall presume that it will be settled in shares and take those shares into consideration when calculating the weighted average number of outstanding shares used in the calculation of diluted EPS if the shares have a dilutive effect. The dilutive effect of the shares needs to be considered until the approval of the number of shares to be distributed to employees as compensation in the following year.

34. SHARE-BASED PAYMENT ARRANGEMENT
a. CHIEF share-based compensation plan (“CHIEF Plan”) described as follows:
--- ---

The Board of Directors of CHIEF resolved to issue 200 stock options on November 13, 2020. Each option is eligible to subscribe for one thousand common stocks when exercisable and the exercise price is $206.00 per share. The options are granted to specific employees that meet the vesting conditions. The CHIEF Plan has an exercise price adjustment formula upon the changes in common stocks or distribution of cash dividends. The options of the CHIEF Plan are valid for five years and the graded vesting schedule will vest two years after the grant date.

CHIEF did not recognize any compensation costs for stock options for the three months ended March 31, 2026 and 2025, respectively.

  • 52 -

There were no employee stock options outstanding for the three months ended March 31, 2026; information about CHIEF’s outstanding stock options for the three months ended March 31, 2025 was as follows:

Three Months Ended March 31, 2025
Granted on November 13, 2020
Number of<br><br><br>Options WeightedAverage<br>Exercise Price<br>(NT)
Employee stock options
Options outstanding at beginning of the period 7
Options exercised (7 )
Options outstanding at end of the period —
Options exercisable at end of the period —
Weighted average remaining contractual life (years) —

All values are in US Dollars.

CHIEF used the fair value method to evaluate the options using the Black-Scholes model and option pricing model and the related assumptions and the fair value of the options were as follows:

Stock OptionsGranted onNovember 13,2020
Grant-date share price (NT$) $ 356.00
Exercise price (NT$) $ 206.00
Dividend yield —
Risk-free interest rate 0.18 %
Expected life 5 years
Expected volatility 34.61 %
Weighted average fair value of grants (NT$) $ 173,893

The expected volatility for the options granted in 2020 was based on CHIEF’s average annualized historical share price volatility from June 5, 2018, CHIEF’s listing date on Taipei Exchange, to the grant date.

b. New shares reserved for subscription by employees under capital increase of CHTSC

On June 25, 2025, the Board of Directors of CHTSC approved the capital increase to issue 3,683 thousand shares and simultaneously reserved 552 thousand shares, representing 15% of the total issuance, for subscription by employees. Furthermore, when the employees did not fully subscribe or discarded their rights to subscribe shares, the Board of Directors of CHTSC authorized the chairman of the Board of Directors to contact specific people or group to subscribe.

The aforementioned options granted to employees are accounted for and measured at fair value of the grant date in accordance with IFRS 2 “Share-Based Payment”. The fair value of CHTSC’s options granted to employees was $1.03 per share.

  • 53 -

CHTSC used the fair value method to evaluate the options granted to employees on August 20, 2025 using the Black-Scholes model and the related assumptions and the fair value of the options were as follows:

Stock OptionsGranted onAugust 20,2025
Grant-date share price (NT$) $ 216.96
Exercise price (NT$) $ 238.00
Dividend yield —
Risk-free interest rate 0.97 %
Expected life 0.038 years
Expected volatility 39.95 %
Weighted average fair value of grants (NT$) $ 1.03

Expected volatility was based on the average annualized historical share price volatility of CHTSC’s comparable companies before the grant date.

c. CHTSC share-based compensation plan (“CHTSC Plan”) described as follows:

The Board of Directors of CHTSC resolved to issue 3,500 stock options on February 20, 2021. Each option is eligible to subscribe for one thousand common stocks when exercisable and the exercise prices are $19.085 per share. The options are granted to specific employees that meet the vesting conditions. The CHTSC Plan has an exercise price adjustment formula upon the changes in common stocks. The options of the CHTSC Plan are valid for five years and the graded vesting schedule will vest one year after the grant date.

CHTSC did not recognize any compensation costs for stock options for the three months ended March 31, 2026. The compensation costs for stock options for the three months ended March 31, 2025 were $89 thousand.

Information about CHTSC’s outstanding stock options for the three months ended March 31, 2026 and 2025 was as follows:

Three Months Ended March 31, 2026 Three Months Ended March 31, 2025
Granted on February 20, 2021 Granted on February 20, 2021
Number of<br><br><br>Options Weighted Average<br>Exercise Price<br>(NT) Number of<br><br><br>Options Weighted Average<br>Exercise Price<br>(NT)
Employee stock options
Options outstanding at beginning of the period 2 655
Options exercised (2 ) (640 )
Options outstanding at end of the period — 15

All values are in US Dollars.

(Continued)

  • 54 -
Three Months Ended March 31, 2026 Three Months Ended March 31, 2025
Granted on February 20, 2021 Granted on February 20, 2021
Number of<br><br><br>Options Weighted Average<br>Exercise Price<br>(NT) Number of<br><br><br>Options Weighted Average<br>Exercise Price<br>(NT)
Options exercisable at end of the period — 6
Weighted average remaining contractual life (years) — 0.89

All values are in US Dollars.

(Concluded)

CHTSC used the fair value method to evaluate the options using the Black-Scholes model and the related assumptions and the fair value of the options were as follows:

Stock OptionsGranted onFerbuary 20,2021
Grant-date share price (NT$) $ 23.76
Exercise price (NT$) $ 19.085
Dividend yield 15.18 %
Risk-free interest rate 0.25 %
Expected life 5 years
Expected volatility 47.35 %
Weighted average fair value of grants (NT$) $ 3,350

Expected volatility was based on the average annualized historical share price volatility of CHTSC’s comparable companies before the grant date.

d. CLPT share-based compensation plan (“CLPT Plan”) described as follows:

The Board of Directors of CLPT resolved to issue 690, 600, 755 and 305 stock options on February 26, 2021, May 31, 2022, September 26, 2023 and October 30, 2025, respectively. Each option is eligible to subscribe for one thousand common stocks when exercisable and the exercise prices are all $16.87 per share. The options are granted to specific employees that meet the vesting conditions. The CLPT Plan has an exercise price adjustment formula upon the changes in common stocks or distribution of cash dividends. The options of the CLPT Plan are valid for four years and the graded vesting schedule will vest two years after the grant date. In addition, the Board of Directors of CLPT approved an amendment to the CLPT Plan on October 30, 2025. Under the amended plan, the stock options were valid until December 31, 2025. Employees may exercise the options immediately upon grant, and the vesting conditions were revised from the original service requirement of 2 to 3 years to full and immediate vesting.

CLPT did not recognize any compensation costs for stock options for the three months ended March 31, 2026. The compensation costs for stock options for the three months ended March 31, 2025 were $1,136 thousand.

  • 55 -

There were no employee stock options outstanding for the three months ended March 31, 2026; information about CLPT’s outstanding stock options for the three months ended March 31, 2025 was as follows:

Three Months Ended March 31, 2025
Granted on September 26, 2023 Granted on May 31, 2022 Granted on February 26, 2021
Number of<br><br><br>Options WeightedAverageExercisePrice(NT) Number of<br><br><br>Options WeightedAverageExercisePrice(NT) Number of<br><br><br>Options WeightedAverageExercisePrice(NT)
Employee stock options
Options outstanding at beginning of the period 750 220 25
Options forfeited — — (25 )
Options outstanding at end of the period 750 220 —
Weighted average remaining contractual life (years) 2.49 1.17 —

All values are in US Dollars.

CLPT used the fair value method to evaluate the options using the Black-Scholes model and the related assumptions and the fair value of the options were as follows:

Stock OptionsGranted onOctober 30,2025 Stock OptionsGranted onSeptember 26,2023 Stock OptionsGranted onMay 31,<br><br><br>2022 Stock OptionsGranted onFebruary 26,2021
Grant-date share price (NT$) $ 33.41 $ 28.43 $ 18.66 $ 17.63
Exercise price (NT$) $ 16.87 $ 16.87 $ 16.87 $ 16.87
Dividend yield — — — —
Risk-free interest rate 1.20 % 1.10 % 0.98 % 0.31 %
Expected life 0.08 years 4 years 4 years 4 years
Expected volatility 29.59 % 31.99 % 35.76 % 35.22 %
Weighted average fair value of grants (NT$) $ 16,560 $ 13,225 $ 5,665 $ 4,750

Expected volatility was based on the average annualized historical share price volatility of CLPT’s comparable companies before the grant date.

e. New shares reserved for subscription by employees under capital increase of IISI

On September 23, 2025, the Board of Directors of IISI approved the capital increase to issue 7,725 thousand shares and simultaneously reserved 1,158 thousand shares, representing 15% of the total issuance, for subscription by employees. Furthermore, when the employees did not fully subscribe or discarded their rights to subscribe shares, the Board of Directors of IISI authorized the chairman of the Board of Directors to contact specific people or group to subscribe.

The aforementioned options granted to employees are accounted for and measured at fair value of the grant date in accordance with IFRS 2 “Share-Based Payment”. The fair value of IISI’s options granted to employees was $1.57 per share.

  • 56 -

IISI used the fair value method to evaluate the options granted to employees on November 7, 2025 using the Black-Scholes model and the related assumptions and the fair value of the options were as follows:

Stock OptionsGranted onNovember 7,2025
Grant-date share price (NT$) $ 46.12
Exercise price (NT$) $ 46.00
Dividend yield —
Risk-free interest rate 1.20 %
Expected life 0.04 years
Expected volatility 40.69 %
Weighted average fair value of grants (NT$) $ 1.57

Expected volatility was based on the average historical share price volatility of IISI’s comparable companies over the one-year period before the grant date.

35. CASH FLOW INFORMATION

Except for those disclosed in other notes, the Company entered into the following non-cash investing and financing activities:

Investing activities Three Months Ended March 31
2026 2025
Additions of property, plant and equipment $ 3,805,619 $ 3,992,520
Changes in other payables 744,008 1,414,830
Payments for acquisition of property, plant and equipment $ 4,549,627 $ 5,407,350
Additions of intangible assets $ 161,958 $ 32,751
Changes in other payables (82,596 ) —
Payments for acquisition of intangible assets $ 79,362 $ 32,751

Financing Activities

Balance on<br><br><br>January 1,<br><br><br>2026 Cash Flows<br><br><br>fromFinancing<br><br><br>Activities Changes in Non-Cash<br>Transactions Cash Flows<br><br><br>from<br><br><br>OperatingActivities -<br><br><br>Interest Paid Balance on<br><br><br>March 31,<br><br><br>2026
New Leases Convertiblebond stockoptions Others
Bonds payable $ 25,188,138 $ 2,563,336 $ — $ (674,165 ) $ 9,541 $ — $ 27,086,850
Lease liabilities $ 10,890,141 $ (1,163,404 ) $ 849,092 $ — $ (12,882 ) $ (38,278 ) $ 10,524,669
Balance on<br><br><br>January 1, Cash Flows<br><br><br>fromFinancing Changes in Non-CashTransactions Cash Flows<br><br><br>from<br><br><br>OperatingActivities - Balance on<br><br><br>March 31,
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
2025 Activities New Leases Others Interest Paid 2025
Lease liabilities $ 10,891,377 $ (1,203,598 ) $ 1,560,497 $ (10,319 ) $ (37,391 ) $ 11,200,566
  • 57 -
36. CAPITAL MANAGEMENT

The Company manages its capital to ensure that entities in the Company will be able to continue as going concerns while maximizing the return to stakeholders through the optimization of the debt and equity balance.

The capital structure of the Company consists of debt of the Company and the equity attributable to the parent.

Some consolidated entities are required to maintain minimum paid-in capital amount as prescribed by the applicable laws.

The management reviews the capital structure of the Company as needed. As part of this review, the management considers the cost of capital and the risks associated with each class of capital. According to the management’s suggestions, the Company maintains a balanced capital structure through paying cash dividends, increasing its share capital, purchasing outstanding shares, and issuing new debt or repaying debt.

37. FINANCIAL INSTRUMENTS

Fair Value Information

The fair value measurement guidance establishes a framework for measuring fair value and expands disclosure about fair value measurements. The standard describes a fair value hierarchy based on three levels of inputs that may be used to measure fair value. These levels are:

Level 1 fair value measurements: These measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 fair value measurements: These measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 fair value measurements: These measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

a. Financial instruments that are not measured at fair value but for which fair value is disclosed<br>

Except those listed in the table below, the Company considers that the carrying amounts of financial assets and liabilities not measured at fair value approximate their fair values.

Carrying Fair Value
Value Level 1 Level 2 Level 3 Total
March 31, 2026
Financial assets
Financial assets at amortized cost Corporate bonds $ 2,020,294 $ — $ 2,020,182 $ — $ 2,020,182
Financial liabilities
Financial liabilities at amortized cost Bonds payable $ 27,086,850 $ — $ 25,198,058 $ 1,901,400 $ 27,099,458

(Continued)

  • 58 -
Carrying Fair Value
Value Level 1 Level 2 Level 3 Total
December 31, 2025
Financial assets
Financial assets at amortized cost Corporate bonds $ 2,020,300 $ — $ 2,030,144 $ — $ 2,030,144
Financial liabilities
Financial liabilities at amortized cost Bonds payable $ 25,188,138 $ — $ 25,196,749 $ — $ 25,196,749
March 31, 2025
Financial assets
Financial assets at amortized cost Corporate bonds $ 2,000,000 $ — $ 2,029,710 $ — $ 2,029,710
Financial liabilities
Financial liabilities at amortized cost Bonds payable $ 30,489,603 $ — $ 30,489,167 $ — $ 30,489,167

(Concluded)

The fair values of bonds and Chunghwa’s bonds payable are measured using Level 2 inputs. The valuation of fair value is based on the quoted market prices provided by third party pricing services.

The fair value of CHPT’s convertible bonds payeble is measured using Level 3 inputs. The valuation of fair value is based on present value, which is calculated based on the cash flow expected to be paid and discounted using the prevailing market interest rate for similar non-convertible instruments at balance sheet date.

b. Financial instruments that are measured at fair value on a recurring basis

March 31, 2026

Level 1 Level 2 Level 3 Total
Financial assets at FVTPL
Derivatives $ — $ 250 $ — $ 250
Non-listed stocks — — 622,199 622,199
Limited partnership — — 558,672 558,672
Other investing agreements — — 58,454 58,454
$ — $ 250 $ 1,239,325 $ 1,239,575
Financial assets at FVOCI
Listed and emerging stocks $ 657,797 $ — $ — $ 657,797
Non-listed stocks — — 6,049,228 6,049,228
$ 657,797 $ — $ 6,049,228 $ 6,707,025

(Continued)

  • 59 -
Level 1 Level 2 Level 3 Total
Financial liabilities at FVPL
Derivatives $ — $ 1,681 $ — $ 1,681
Hedging financial liabilities $ — $ 1,619 $ — $ 1,619

(Concluded)

December 31, 2025

Level 1 Level 2 Level 3 Total
Financial assets at FVTPL
Derivatives $ — $ 3,372 $ — $ 3,372
Non-listed stocks — — 641,999 641,999
Limited partnership — — 499,656 499,656
Other investing agreements — — 69,697 69,697
$ — $ 3,372 $ 1,211,352 $ 1,214,724
Financial assets at FVOCI
Listed and emerging stocks $ 315,902 $ — $ — $ 315,902
Non-listed stocks — — 6,489,456 6,489,456
$ 315,902 $ — $ 6,489,456 $ 6,805,358
Financial liabilities at FVTPL
Derivatives $ — $ 3 $ — $ 3
Hedging financial assets $ — $ 3,204 $ — $ 3,204
Hedging financial liabilities $ — $ 56 $ — $ 56

March 31, 2025

Level 1 Level 2 Level 3 Total
Financial assets at FVTPL
Derivatives $ — $ 5,048 $ — $ 5,048
Non-listed stocks — — 661,256 661,256
Limited partnership — — 362,982 362,982
Other investing agreements — — 58,580 58,580
$ — $ 5,048 $ 1,082,818 $ 1,087,866
Financial assets at FVOCI
Listed and emerging stocks $ 117,170 $ — $ — $ 117,170
Non-listed stocks — — 5,183,230 5,183,230
$ 117,170 $ — $ 5,183,230 $ 5,300,400
Hedging financial assets $ — $ 30 $ — $ 30
  • 60 -

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

The reconciliations for financial assets measured at Level 3 were listed below:

Three months ended March 31, 2026

Financial Assets Measured atFair Valuethrough Profitor Loss Measured atFair Valuethrough OtherComprehensiveIncome Total
Balance on January 1, 2026 $ 1,211,352 $ 6,489,456 $ 7,700,808
Acquisition 60,000 — 60,000
Recognized in profit or loss under “Other gains and losses” (26,917 ) — (26,917 )
Recognized in other comprehensive income under “Unrealized gain or loss on financial assets<br>at fair value through other comprehensive income” — (85,750 ) (85,750 )
Transferred out from level 3 (Note) — (354,478 ) (354,478 )
Proceeds from profit distribution of the investees (5,110 ) — (5,110 )
Balance on March 31, 2026 $ 1,239,325 $ 6,049,228 $ 7,288,553
Unrealized gain or loss for the three months ended March 31, 2026 $ (26,917 )

Three months ended March 31, 2025

Financial Assets Measured atFair Valuethrough Profitor Loss Measured atFair Valuethrough OtherComprehensiveIncome Total
Balance on January 1, 2025 $ 1,005,236 $ 4,540,963 $ 5,546,199
Acquisition 82,191 65,000 147,191
Recognized in profit or loss under “Other gains and losses” (4,565 ) — (4,565 )
Recognized in other comprehensive income under “Unrealized gain or loss on financial assets<br>at fair value through other comprehensive income” — 577,267 577,267
Proceeds from profit distribution of the investees (44 ) — (44 )
Balance on March 31, 2025 $ 1,082,818 $ 5,183,230 $ 6,266,048
Unrealized gain or loss for the three months ended March 31, 2025 $ (4,565 )
  • 61 -
Note: The fair value measurements for the equity investments were transferred from Level 3 to Level 1 at the end of reporting period, since quoted prices (unadjusted) in active market became available.

The fair values of financial assets and financial liabilities of Level 2 are determined as follows:

1) The fair values of financial assets and financial liabilities with standard terms and conditions and traded in<br>active markets are determined with reference to quoted market prices.
2) For derivatives, fair values are estimated using discounted cash flow model. Future cash flows are estimated<br>based on observable inputs including forward exchange rates at the end of the reporting periods and the forward and spot exchange rates stated in the contracts, discounted at a rate that reflects the credit risk of various counterparties.<br>
--- ---

The fair values of non-listed domestic and foreign equity investments and other investing agreements were Level 3 financial assets and determined using the market approach by reference the Price-to-Book ratios (P/B ratios) of peer companies that traded in active markets, using the income approach, in which the discounted cash flow is used to capture the present value of the expected future economic benefits to be derived from the investments, or using assets approach. The significant unobservable inputs used were listed in the below table. An increase in growth rate of long-term revenue, a decrease in discount for the lack of marketability or noncontrolling interests discount, or a decrease in the discount rate would result in increases in the fair values.

March 31,2026 December 31,2025 March 31,2025
Discount for lack of marketability 10.00%~30.00% 10.00%~30.00% 20.00%~30.00%
Noncontrolling interests discount 10.00%~29.04% 10.00%~29.04% 15.00%~29.04%
Growth rate of long-term revenue 2.02% 1.33% 1.33%
Discount rate 8.94%~14.20% 8.21%~11.60% 8.14%~14.80%

If the inputs to the valuation model were changed to reflect reasonably possible alternative assumptions while all the other variables were held constant, the fair values of Level 3 financial assets would increase (decrease) as below table.

March 31
2026 2025
Discount for lack of marketability
5% increase $ (131,860 ) $ (63,808 )
5% decrease $ 131,860 $ 63,808
Noncontrolling interests discount
5% increase $ (119,738 ) $ (52,040 )
5% decrease $ 119,738 $ 52,040
Growth rate of long-term revenue
0.1% increase $ 36,619 $ 38,672
0.1% decrease $ (35,968 ) $ (37,963 )
Discount rate
1% increase $ (443,891 ) $ (463,572 )
1% decrease $ 541,892 $ 569,057
  • 62 -

Categories of Financial Instruments

March 31, 2026 December 31,2025 March 31, 2025
Financial assets
Measured at FVTPL
Mandatorily measured at FVTPL $ 1,239,575 $ 1,214,724 $ 1,087,866
Hedging financial assets — 3,204 30
Financial assets at amortized cost (Note a) 103,160,499 93,016,497 93,593,518
Financial assets at FVOCI 6,707,025 6,805,358 5,300,400
Financial liabilities
Measured at FVTPL
Held for trading 1,681 3 —
Hedging financial liabilities 1,619 56 —
Financial liabilities at amortized cost (Note b) 62,416,981 63,014,547 61,185,090
Note a: The balances included cash and cash equivalents, trade notes and accounts receivable, receivables from related parties, other current monetary assets, financial assets at amortized cost and refundable deposits (classified as other<br>assets).
--- ---
Note b: The balances included short-term loans, trade notes and accounts payable, payables to related parties, partial other payables, customers’ deposits, bonds payable (including the current portion) and long-term loans (including<br>the current portion).

Financial Risk Management Objectives

The main financial instruments of the Company include investments in equity and debt instruments, trade notes and accounts receivable, trade notes and accounts payable, lease liabilities, loans and bonds payable. The Company’s Finance Department provides services to its business units, co-ordinates access to domestic and international capital markets, monitors and manages the financial risks relating to the operations of the Company through internal risk reports which analyze exposures by degree and magnitude of risks. These risks include market risk (including foreign currency risk, interest rate risk and other price risk), credit risk, and liquidity risk.

The Company seeks to minimize the effects of these risks by using derivative financial instruments to hedge risk exposures. The use of financial derivatives is governed by the Company’s policies approved by the Board of Directors. Those derivatives are used to hedge the risks of exchange rate fluctuation arising from operating or investment activities. Compliance with policies and risk exposure limits is reviewed by the Company’s Finance Department on a continuous basis. The Company does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes.

Chunghwa reports the significant risk exposures and related action plans timely and actively to the audit committee and if needed to the Board of Directors.

a. Market risk

The Company is exposed to market risks of changes in foreign currency exchange rates and interest rates. The Company uses forward exchange contracts to hedge the exchange rate risk arising from assets and liabilities denominated in foreign currencies.

  • 63 -

There were no changes to the Company’s exposure to market risks or the manner in which these risks are managed and measured.

1) Foreign currency risk

For details about the carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities at the balance sheet dates, please refer to Note 43 Significant Assets and Liabilities Denominated in Foreign Currencies.

The carrying amounts of the Company’s derivatives with exchange rate risk exposures at the balance sheet dates were as follows:

December 31,2025 March 31,2025
Assets
250 $ 168 $ 1,001
— 6,408 4,077
Liabilities
16 3 —
3,284 56 —

All values are in Euros.

Foreign currency sensitivity analysis

The Company is mainly exposed to the fluctuations of the currencies USD, EUR, SGD and RMB.

The following table details the Company’s sensitivity to a 5% increase and decrease in the functional currency against the relevant foreign currencies. 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible changes in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items and forward exchange contracts. A positive number below indicates an increase in pre-tax profit or equity where the functional currency weakens 5% against the relevant currency.
2025
Profit or loss
Monetary assets and liabilities (a)
62,295 $ 56,642
(27,752 ) (24,096 )
SGD 16,479 (24,264 )
RMB 3,014 3,875
Derivatives (b)
3,831 9,230
6,424 4,137
Equity
Derivatives (c)
6,424 306

All values are in Euros.

a) This is mainly attributable to the exposure to foreign currency denominated receivables and payables of the<br>Company outstanding at the balance sheet dates.
b) This is mainly attributable to forward exchange contracts.
--- ---
  • 64 -
c) This is mainly attributable to the changes in the fair value of derivatives that are designated as cash flow<br>hedges.

For a 5% strengthening of the functional currency against the relevant currencies, there would be an equal and opposite effect on the pre-tax profit or equity for the amounts shown above.

2) Interest rate risk

The carrying amounts of the Company’s exposures to interest rates on financial assets and financial liabilities at the balance sheet dates were as follows:

March 31, 2026 December 31,2025 March 31, 2025
Fair value interest rate risk
Financial assets $ 55,078,622 $ 41,450,570 $ 55,909,740
Financial liabilities 37,651,519 36,418,279 41,940,169
Cash flow interest rate risk
Financial assets 13,576,308 18,423,926 10,228,959
Financial liabilities 2,100,000 1,600,000 1,915,000

Interest rate sensitivity analysis

The sensitivity analyses below have been determined based on the exposure to interest rates for non-derivative instruments at the end of the reporting period. A 25 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

If interest rates had been 25 basis points higher/lower and all other variables were held constant, the Company’s pre-tax income would increase/decrease by $28,691 thousand and $20,785 thousand for the three months ended March 31, 2026 and 2025, respectively. This is mainly attributable to the Company’s exposure to floating interest rates on its financial assets, short-term and long-term loans.

3) Other price risk

The Company is exposed to equity price risks arising from holding other company’s equity. Equity investments are held for strategic rather than trading purposes. The management managed the risk through holding various risk portfolios. Further, the Company assigned finance and investment departments to monitor the price risk.

Equity price sensitivity analysis

The sensitivity analyses below have been determined based on the exposure to equity price risks at the end of the reporting period.

If equity prices had been 5% higher/lower, pre-tax profit and pre-tax other comprehensive income would have increased/decreased by $59,044 thousand and $335,351 thousand, respectively, as a result of the changes in fair value of financial assets at FVTPL and financial assets at FVOCI for the three months ended March 31, 2026. If equity prices had been 5% higher/lower, pre-tax profit and pre-tax other comprehensive income would have increased/decreased by $51,212 thousand and $265,020 thousand, respectively, as a result of the changes in fair value of financial assets at FVTPL and financial assets at FVOCI for the three months ended March 31, 2025.

  • 65 -
b. Credit risk

Credit risk refers to the risk that a counterparty would default on its contractual obligations resulting in financial loss to the Company. The maximum credit exposure of the aforementioned financial instruments is equal to their carrying amounts recognized in the consolidated balance sheet as of the balance sheet date.

The Company has large trade receivables outstanding with its customers. A substantial majority of the Company’s outstanding trade receivables are not covered by collateral or credit insurance. The Company has implemented ongoing measures including enhancing credit assessments and strengthening overall risk management to reduce its credit risk. While the Company 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 Company serves a large number of unrelated consumers, the concentration of credit risk was limited.

The Company mitigates its financial credit risk by selecting counterparties with investment grade credit ratings and by limiting the exposure to any individual counterparty. The Company regularly monitors and reviews market conditions, and adjusts the limit applied to counterparties according to their credit standing.

In accordance with the Company’s investment and risk management policies, counterparties for debt investments must be financial institutions with investment grade or higher, and thus there is no significant credit exposure resulting from such investments. The Company assesses whether there has been a significant increase in credit risk on debt instruments since initial recognition by reviewing changes in financial market conditions, and external credit ratings and material information of the issuers.

The Company assesses the 12-month expected credit loss and lifetime expected credit loss for debt instruments based on the probability of default and loss given default provided by external credit rating agencies.

c. Liquidity risk

The Company manages and maintains sufficient cash and cash equivalent position to support the operations and reduce the impact on fluctuation of cash flow.

1) Liquidity and interest risk tables

The following tables detailed the Company’s remaining contractual maturity for its non-derivative financial liabilities with agreed repayment periods. The tables had been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company is required to pay.

March 31, 2026

WeightedAverageEffectiveInterest Rate(%) Less than1 Month 1-3 Months 3 Months to1 Year 1-5 Years More than5 Years Total
Non-derivative financial liabilities
Non-interest bearing — $ 36,442,738 $ — $ 3,493,301 $ 5,222,660 $ — $ 45,158,699
Floating interest rate instruments 2.11 4,461 357,390 175,654 1,616,800 — 2,154,305
Fixed interest rate instruments 0.71 1,944,161 68,559 3,705,042 21,133,578 1,000,417 27,851,757
$ 38,391,360 $ 425,949 $ 7,373,997 $ 27,973,038 $ 1,000,417 $ 75,164,761
  • 66 -

Information about the maturity analysis for lease liabilities was as follows:

Less than1 Year 1-3 Years 3-5 Years More than5 Years Total
Lease liabilities $ 4,051,999 $ 5,128,304 $ 1,522,065 $ 146,278 $ 10,848,646

December 31, 2025

WeightedAverageEffectiveInterest Rate(%) Less than1 Month 1-3 Months 3 Months to1 Year 1-5 Years More than5 Years Total
Non-derivative financial liabilities
Non-interest bearing — $ 41,946,374 $ — $ 2,783,132 $ 5,261,997 $ — $ 49,991,503
Floating interest rate instruments 2.10 3,352 5,600 25,200 1,625,200 — 1,659,352
Fixed interest rate instruments 0.73 225,491 178,495 2,096,214 22,675,050 1,001,667 26,176,917
$ 42,175,217 $ 184,095 $ 4,904,546 $ 29,562,247 $ 1,001,667 $ 77,827,772

Information about the maturity analysis for lease liabilities was as follows:

Less than1 Year 1-3 Years 3-5 Years More than5 Years Total
Lease liabilities $ 3,917,802 $ 5,391,462 $ 1,684,996 $ 153,284 $ 11,147,544

March 31, 2025

WeightedAverageEffectiveInterest Rate(%) Less than1 Month 1-3 Months 3 Months to1 Year 1-5 Years More than5 Years Total
Non-derivative financial liabilities
Non-interest bearing — $ 31,193,259 $ — $ 3,105,520 $ 5,160,925 $ — $ 39,459,704
Floating interest rate instruments 2.13 3,904 106,706 211,972 1,680,673 — 2,003,255
Fixed interest rate instruments 0.55 43,434 278,007 8,963,294 17,225,427 4,712,692 31,222,854
$ 31,240,597 $ 384,713 $ 12,280,786 $ 24,067,025 $ 4,712,692 $ 72,685,813

Information about the maturity analysis for lease liabilities was as follows:

Less than1 Year 1-3 Years 3-5 Years More than5 Years Total
Lease liabilities $ 3,766,707 $ 5,516,994 $ 2,022,421 $ 158,836 $ 11,464,958

The following table detailed the Company’s liquidity analysis for its derivative financial instruments. The table had been drawn up based on the undiscounted gross inflows and outflows on those derivatives that require gross settlement.

Less than1 Month 1-3 Months 3 Months to<br><br><br>1 Year 1-5 Years Total
March 31, 2026
Gross settled
Forward exchange contracts
Inflow $ 87,034 $ 256,419 $ — $ — $ 343,453
Outflow 86,800 259,703 — — 346,503
$ 234 $ (3,284 ) $ — $ — $ (3,050 )

(Continued)

  • 67 -
Less than1 Month 1-3 Months 3 Months to<br><br><br>1 Year 1-5 Years Total
December 31, 2025
Gross settled
Forward exchange contracts
Inflow $ 85,531 $ 184,164 $ — $ — $ 269,695
Outflow 85,422 177,756 — — 263,178
$ 109 $ 6,408 $ — $ — $ 6,517
March 31, 2025
Gross settled
Forward exchange contracts
Inflow $ 184,338 $ 88,578 $ — $ — $ 272,916
Outflow 183,337 84,501 — — 267,838
$ 1,001 $ 4,077 $ — $ — $ 5,078

(Concluded)

2) Financing facilities
March 31, 2026 December 31,2025 March 31, 2026
--- --- --- --- --- --- ---
Unsecured bank loan facilities
Amount used $ 540,000 $ 340,000 $ 565,000
Amount unused 27,658,552 26,973,921 50,454,845
$ 28,198,552 $ 27,313,921 $ 51,019,845
Secured bank loan facilities
Amount used $ 1,600,000 $ 1,600,000 $ 1,600,000
Amount unused 15,000 15,000 15,000
$ 1,615,000 $ 1,615,000 $ 1,615,000
38. RELATED PARTIES TRANSACTIONS
--- ---

The ROC Government has significant equity interest in Chunghwa. Chunghwa provides fixed-line services, mobile services, internet and data and other services to the various departments and institutions of the ROC Government in the normal course of business and at arm’s-length prices. Except for those disclosed in other notes or this note, the transactions with the ROC government bodies have not been disclosed because the transactions are not individually or collectively significant. However, the related revenues and operating costs have been appropriately recorded.

  • 68 -
a. The Company engages in business transactions with the following related parties:
Company Relationship
--- ---
Taiwan International Standard Electronics Co., Ltd. Associate
So-net Entertainment Taiwan Limited Associate
KKBOX Taiwan Co., Ltd. Associate
KingwayTek Technology Co., Ltd. Associate
Taiwan International Ports Logistics Corporation Associate
Senao Networks, Inc. Associate
EnGenius Networks Inc. Subsidiary of the Company’s associate, SNI
Emplus Technologies, Inc. Subsidiary of the Company’s associate, SNI
ST-2 Satellite Ventures Pte., Ltd. Associate
CHT Infinity Singapore Pte., Ltd. Associate
Viettel-CHT Co., Ltd. Associate
PT. CHT Infinity Indonesia Subsidiary of the Company’s associate, CISG
Click Force Co., Ltd. Associate
Chunghwa PChome Fund I Co., Ltd. Associate
Cornerstone Ventures Co., Ltd. Associate
Next Commercial Bank Co., Ltd. Associate
WiAdvance Technology Corporation Associate
AgriTalk Technology Inc. Associate
Imedtac Co., Ltd. Associate
Baohwa Trust Co., Ltd. Associate
Gather Works Co., Ltd. Associate
Porrima Inc. Associate
Taiwania Hive Technology Fund L.P. Associate
Chunghwa Sochamp Technology Inc. Associate
Joint Journey Creative Co., Ltd. Associate
Chunghwa SEA Holdings Joint venture
Other related parties
Chunghwa Telecom Foundation A nonprofit organization of which the funds donated by Chunghwa exceeds one third of its total<br>funds
Senao Technical and Cultural Foundation A nonprofit organization of which the funds donated by SENAO exceeds one third of its total<br>funds
Ba Gua Liao Foundation Substantial related party of SENAO
Cih Yue Charity Foundation Substantial related party of SENAO
Tsann Kuen Enterprise Co., Ltd. Substantial related party of SENAO
E-Life Mall Co., Ltd. Substantial related party of SENAO
Engenius Technologies Co., Ltd. Substantial related party of SENAO
Cheng Keng Investment Co., Ltd. Substantial related party of SENAO
Cheng Feng Investment Co., Ltd. Substantial related party of SENAO
All Oriented Investment Co., Ltd. Substantial related party of SENAO
Hwa Shun Investment Co., Ltd. Substantial related party of SENAO
Yu Yu Investment Co., Ltd. Substantial related party of SENAO
Kangsin Co., Ltd. Substantial related party of SENAO
UDN Digital Co., Ltd. Investor of significant influence over SFD
Shenzhen Century Communication Co., Ltd. Investor of significant influence over SCT
Advantech Co., Ltd. Investor of significant influence over IISI
  • 69 -
b. Balances and transactions between Chunghwa and its subsidiaries, which are related parties of Chunghwa, have<br>been eliminated on consolidation and are not disclosed in this note. Terms of the foregoing transactions with related parties were not significantly different from transactions with non-related parties. When no similar transactions with non-related<br>parties can be referenced, terms were determined in accordance with mutual agreements. Details of transactions between the Company and other related parties are disclosed below:
1) Operating transactions
--- ---
Revenues
--- --- --- --- ---
Three Months Ended March 31
2026 2025
Associates $ 107,400 $ 80,905
Others 64,650 43,126
$ 172,050 $ 124,031
Operating Costs and Expenses
--- --- --- --- ---
Three Months Ended March 31
2026 2025
Associates $ 221,208 $ 190,994
Others 63,289 70,290
$ 284,497 $ 261,284
2) Non-operating transactions
--- ---
Non-operating Income and Expenses
--- --- --- --- ---
Three Months Ended March 31
2026 2025
Associates $ 10,448 $ 10,462
Others 429 —
$ 10,877 $ 10,462
3) Receivables
--- ---
March 31,2026 December 31,2025 March 31,2025
--- --- --- --- --- --- ---
Associates $ 140,970 $ 184,493 $ 132,130
Others 37,114 28,987 22,472
$ 178,084 $ 213,480 $ 154,602
  • 70 -
4) Payables
March 31,2026 December 31,2025 March 31,2025
--- --- --- --- --- --- ---
Associates $ 131,877 $ 163,125 $ 110,482
Others 12,110 13,621 9,692
$ 143,987 $ 176,746 $ 120,174
5) Customers’ deposits
--- ---
March 31,2026 December 31,2025 March 31,2025
--- --- --- --- --- --- ---
Associates $ 3,070 $ 2,443 $ 3,144
6) Lease-in agreements
--- ---

Chunghwa entered into a contract with ST-2 Satellite Ventures Pte., Ltd. on March 12, 2010 to lease capacity on the ST-2 satellite. This lease term is for 15 years which should start from the official operation of ST-2 satellite and the total contract value is approximately $6,000,000 thousand (SGD 260,723 thousand), including a prepayment of $3,067,711 thousand at the inception of the lease, and the rest of amount should be paid annually when ST-2 satellite starts its official operation. ST-2 satellite was launched in May 2011 and began its official operation in August 2011. As ST-2 satellite is in good operating condition, the useful life is extended for another 3 years and 3 months after evaluation in 2021. The Board of Directors of Chunghwa approved to extend the lease period accordingly with the original contract terms in December 2021; therefore, Chunghwa acquired right-of-use asset of $1,124,780 thousand from the aforementioned lease extension.

The lease liabilities of ST-2 Satellite Ventures Pte., Ltd. as of balance sheet dates were as follows:

March 31,2026 December 31,2025 March 31,2025
Lease liabilities - current $ 356,560 $ 297,328 $ 209,814
Lease liabilities - noncurrent 1,102,351 1,191,341 1,451,040
$ 1,458,911 $ 1,488,669 $ 1,660,854

The interest expense recognized for the aforementioned lease liabilities for the three months ended March 31, 2026 and 2025 were $1,578 thousand and $1,763 thousand, respectively.

7) Others

The bank deposits and other financial assets of NCB as of balance sheet dates were as follows:

March 31,2026 December 31,2025 March 31,2025
Bank deposits and other financial assets $ 3,161,898 $ 3,237,633 $ 2,757,493
  • 71 -

The interest income recognized for the aforementioned bank deposits and other financial assets for the three months ended March 31, 2026 and 2025 were $16,466 thousand and $15,063 thousand, respectively.

c. Compensation of key management personnel

The compensation of directors and key management personnel was as follows:

Three Months Ended March 31
2026 2025
Short-term employee benefits $ 136,795 $ 120,873
Post-employment benefits 2,237 2,439
Share-based payment — 154
$ 139,032 $ 123,466

The compensation of directors and key management personnel was mainly determined by the compensation committee having regard to the performances and market trends.

39. PLEDGED ASSETS

The following assets are mainly pledged as collaterals for bank loans, customs duties of the imported materials and warranties of contract performance, or the trust account the Company entrusts to Land Bank of Taiwan for fund control and property rights management.

March 31,2026 December 31,2025 March 31,2025
Property, plant and equipment $ 2,402,428 $ 2,409,806 $ 2,431,942
Land held under development (included in inventories) 1,998,733 1,998,733 1,998,733
Restricted assets (included in other assets - others) 1,463,586 1,306,353 1,185,874
$ 5,864,747 $ 5,714,892 $ 5,616,549
40. SIGNIFICANT CONTINGENT LIABILITIES AND UNRECOGNIZED COMMITMENTS
--- ---

Except for those disclosed in other notes, the Company’s significant commitments and contingent liabilities as of March 31, 2026 were as follows:

a. Acquisitions of property, plant and equipment of $20,433,081 thousand.
b. Acquisitions of telecommunications-related inventory of $5,290,813 thousand.
--- ---
c. Unused letters of credit amounting to $10,000 thousand.
--- ---
d. A commitment to contribute $2,000,000 thousand to a Piping Fund administered by the Taipei City Government, of<br>which $1,000,000 thousand was contributed by Chunghwa on August 15, 1996 (classified as other financial assets—noncurrent). If the fund is not sufficient, Chunghwa will contribute the remaining $1,000,000 thousand upon notification from<br>the Taipei City Government.
--- ---
  • 72 -
e. Chunghwa committed that when its ownership interest in NCB is greater than 25% and NCB encounters financial<br>difficulty or the capital adequacy ratio of NCB cannot meet the related regulation requirements, Chunghwa will provide financial support to assist NCB in maintaining a healthy financial condition.
f. Chunghwa signed a contract, the ST-2 Satellite Succession Plan, with Singapore Telecommunications Limited, for<br>a total transaction price of EUR 177,000 thousand and SGD 51,000 thousand; as of March 31, 2026, Chunghwa had paid the amount of EUR 123,900 thousand. Chunghwa signed a contract for Astranis block 3 Satellite with Astranis Space<br>Technologies Corp. for a total transaction price of USD 115,000 thousand; as of March 31, 2026, Chunghwa had paid the amount of USD 17,080 thousand. The aforementioned amounts are classified as prepayments.
--- ---
g. The Company has signed the house and land presale contracts amounting to $7,691,358 thousand and has received<br>$1,333,524 thousand in accordance with the contracts (classified as contract liabilities).
--- ---
41. NATURE-DEPENDENT POWER PURCHASE AGREEMENTS
--- ---

Chunghwa has entered into solar and wind power purchase agreements with multiple suppliers. Based on the design and operation of the electricity market in which the power is transacted under these contracts, the volume of electricity generated is subject to fluctuations due to natural conditions. However, the Company expects that its electricity demand will exceed the volume of electricity generated and obtained under the contracts.

The estimated future cash outflows of these contracts as of March 31, 2026, December 31, 2025 and March 31, 2025 are as follows:

March 31,2026 December 31,2025 March 31,2025
Year 1 $ 1,137,275 $ 872,979 $ 495,408
Year 1 to 3 2,982,847 2,782,523 1,331,845
Year 3 to 5 3,590,124 2,613,925 —
Year 5 to 10 9,243,424 6,534,813 —
Onwards 28,187,652 15,683,550 —
$ 45,141,322 $ 28,487,790 $ 1,827,253

Chunghwa purchased nature-dependent power at costs of $116,725 thousand and $91,966 thousand for the three months ended March 31, 2026 and 2025, respectively.

42. SIGNIFICANT SUBSEQUENT EVENTS

Chunghwa’s Board of Directors approved an investment in IOWN AI Fund I, L.P.in April 2026, with an estimated investment amount of USD 20,000 thousand.

  • 73 -
43. SIGNIFICANT ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES

The following information summarizes the disclosure of foreign currencies other than the functional currency of Chunghwa and its subsidiaries. The following exchange rates are the exchange rates used to translate to the presentation currency of the consolidated financial statements, which is the NTD:
ExchangeRate New TaiwanDollars(Thousands)
Assets denominated in foreign currencies
Monetary items
131,962 32.00 $ 4,222,131
1,271 36.71 46,667
SGD 75,318 24.80 1,867,882
RMB 25,386 4.629 117,514
Non-monetary items
Investments accounted for using equity method
7,153 32.00 228,855
SGD 16,502 24.80 409,245
VND 512,527,027 0.0012 615,032
Liabilities denominated in foreign currencies
Monetary items
93,022 32.00 2,976,239
16,391 36.71 601,715
SGD 62,029 24.80 1,538,312
RMB 12,366 4.629 57,241

All values are in Euros.
ExchangeRate New TaiwanDollars(Thousands)
Assets denominated in foreign currencies
Monetary items
126,702 31.43 $ 3,982,241
1,252 36.90 46,193
SGD 91,411 24.45 2,235,002
RMB 21,710 4.496 97,607
Non-monetary items
Investments accounted for using equity method
7,447 31.43 234,057
SGD 14,091 24.45 344,530
VND 484,883,118 0.0012 581,860

All values are in Euros.

(Continued)

  • 74 -
ExchangeRate New TaiwanDollars(Thousands)
Liabilities denominated in foreign currencies
Monetary items
50,706 31.43 $ 1,593,700
39,536 36.90 1,458,887
SGD 63,851 24.45 1,561,165
RMB 10,048 4.496 45,178

All values are in Euros.

(Concluded)
ExchangeRate New TaiwanDollars(Thousands)
Assets denominated in foreign currencies
Monetary items
68,543 33.21 $ 2,275,962
1,679 35.97 60,376
SGD 50,440 24.77 1,249,398
RMB 25,662 4.573 117,351
Non-monetary items
Investments accounted for using equity method
8,133 33.21 270,060
SGD 14,732 24.77 364,913
VND 472,913,382 0.0013 605,329
Liabilities denominated in foreign currencies
Monetary items
34,426 33.21 1,143,129
15,077 35.97 542,303
SGD 70,032 24.77 1,734,687
RMB 8,714 4.573 39,850

All values are in Euros.

The unrealized foreign currency exchange gains and losses were gain of $11,524 thousand and loss of $62,823 thousand for the three months ended March 31, 2026 and 2025, respectively. Due to the various foreign currency transactions and the functional currency of each individual entity of the Company, foreign exchange gains and losses cannot be disclosed by the respective significant foreign currency.

  • 75 -
44. ADDITIONAL DISCLOSURES

Following are the additional disclosures required by the FSC for the Company:

a. Financing provided: None.
b. Endorsement/guarantee provided: Please see Table 1.
--- ---
c. Significant marketable securities held (excluding investments in subsidiaries, associates and joint ventures):<br>Please see Table 2.
--- ---
d. Total purchases from or sales to related parties amounting to at least $100 million or 20% of the paid-in<br>capital: Please see Table 3.
--- ---
e. Receivables from related parties amounting to $100 million or 20% of the paid-in capital: Please see Table 4.<br>
--- ---
f. Names, locations, and other information of investees on which the Company exercises significant influence<br>(excluding investments in Mainland China): Please see Table 5.
--- ---
g. Information on investments in Mainland China:
--- ---
1) The name of the investee in Mainland China, its main businesses and products, paid-in capital, method of<br>investment, information on inflow or outflow of capital, ownership percentage, net income (loss) of the investee, share of profit (loss) of the investee, ending balance, amount received as dividends from the investee, and the limit on the amount of<br>investment in Mainland China: Please see Table 6.
--- ---
2) Significant transactions with the investee in Mainland China occurring directly or indirectly through a third<br>region, and the prices, 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.
--- ---
h. Intercompany relationships and significant intercompany transactions: Please see Table 7.<br>
--- ---
45. SEGMENT INFORMATION
--- ---

The Company’s reportable segments are “Consumer Business”, “Enterprise Business”, “International Business” and “Others”, which are managed separately because each segment represents a strategic business unit that serves different customers. Segment information is provided to the chief operating decision maker who allocates resources and assesses segment performance. The Company’s measure of segment performance is mainly based on revenues and income before income tax.

Some operating segments have been aggregated into a single operating segment taking into account the following factors: (a) the type or class of customer for the telecommunications products and services are similar; (b) the nature of the telecommunications products and services are similar; and (c) the methods used to provide the services to the customers are similar.

The accounting policies of the operating segments are the same as those described in Note 3.

  • 76 -

Segment Revenues and Operating Results

Analysis by reportable segment of revenues and operating results of continuing operations are as follows:

ConsumerBusiness EnterpriseBusiness InternationalBusiness Others Total
Three months ended March 31, 2026
Revenues
From external customers $ 36,727,308 $ 18,814,879 $ 2,695,099 $ 1,751,149 $ 59,988,435
Intersegment revenues 610,791 286,103 232,517 92,330 1,221,741
Segment revenues $ 37,338,099 $ 19,100,982 $ 2,927,616 $ 1,843,479 61,210,176
Intersegment elimination (1,221,741 )
Consolidated revenues $ 59,988,435
Segment income before income tax $ 8,563,088 $ 3,196,256 $ 639,076 $ 782,305 $ 13,180,725
Three months ended March 31, 2025
Revenues
From external customers $ 34,569,028 $ 17,335,780 $ 2,435,256 $ 1,468,345 $ 55,808,409
Intersegment revenues 597,174 223,671 241,965 95,601 1,158,411
Segment revenues $ 35,166,202 $ 17,559,451 $ 2,677,221 $ 1,563,946 56,966,820
Intersegment elimination (1,158,411 )
Consolidated revenues $ 55,808,409
Segment income before income tax $ 8,131,135 $ 3,286,461 $ 632,544 $ 648,871 $ 12,699,011

Main Products and Service Revenues

Three Months Ended March 31
2026 2025
Consumer Business
Mobile services $ 15,163,027 $ 14,530,554
Fixed-line services 10,765,315 10,694,341
Sales 10,098,431 8,613,930
Others 700,535 730,203
36,727,308 34,569,028
Enterprise Business
Fixed-line services 8,289,542 8,236,570
ICT business 7,400,062 5,926,892
Mobile services 2,372,397 2,287,993
Others 752,878 884,325
18,814,879 17,335,780
International Business
ICT business 1,269,098 1,022,298
Fixed-line services 1,247,436 1,265,630
Others 178,565 147,328
2,695,099 2,435,256
Others
Sales 1,509,398 1,236,957
Others 241,751 231,388
1,751,149 1,468,345
$ 59,988,435 $ 55,808,409
  • 77 -

TABLE 1

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

ENDORSEMENTS/GUARANTEES PROVIDED

THREE MONTHS ENDEDMARCH 31, 2026

(Amounts in Thousands of New Taiwan Dollars)

No.<br><br><br>(Note 1) Endorsement/<br>Guarantee<br>Provider Guaranteed Party Limits onEndorsement/<br>GuaranteeAmountProvided toEachGuaranteedParty Maximum<br>Balance<br>for the<br>Period Ending<br>Balance Actual<br>Borrowing<br>Amount Amount of<br>Endorsement/<br>Guarantee<br>Collateralized<br>by<br>Properties Ratio ofAccumulatedEndorsement/<br>Guarantee to<br>Net<br>Equity Per<br>Latest<br>Financial<br>Statements Maximum<br>Endorsement/<br>Guarantee<br>Amount<br>Allowable Endorsement/<br>Guarantee<br>Given<br>by Parent on<br>Behalf of<br>Subsidiaries Endorsement/<br>Guarantee<br>Given<br>by<br>Subsidiaries<br>on<br>Behalf of<br>Parent Endorsement/<br>Guarantee<br>Given<br>on Behalf ofCompanies in<br>Mainland<br>China Note
Name Nature ofRelationship<br>(Note 2)
1 Senao<br>International<br>Co., Ltd. Aval<br>Technologies<br>Co., Ltd. b $ 610,774 $ 300,000 $ 300,000 $ 300,000 $ — 4.91 $ 3,053,869 Yes No No Notes 3 and 4
Wiin<br>Technology<br>Co., Ltd. b 610,774 200,000 200,000 200,000 — 3.27 3,053,869 Yes No No Notes 3 and 4
Note 1: Significant transactions between the Company and its subsidiaries or among subsidiaries are numbered as<br>follows:
--- ---
a. “0” for the Company.
--- ---
b. Subsidiaries are numbered from “1”.
--- ---
Note 2: Relationships between the endorsement/guarantee provider and the guaranteed party:
--- ---
a. A company with which it does business.
--- ---
b. A company in which the Company directly and indirectly holds more than 50 percent of the voting shares.<br>
--- ---
c. A company that directly and indirectly holds more than 50 percent of the voting shares in the Company.<br>
--- ---
d. Companies in which the Company holds, directly or indirectly, 90% or more of the voting shares.<br>
--- ---
e. The Company fulfills its contractual obligations by providing mutual endorsements/guarantees for another<br>company in the same industry or for joint builders for purposes of undertaking a construction project.
--- ---
f. All capital contributing shareholders make endorsements/guarantees for their jointly invested company in<br>proportion to their shareholding percentages.
--- ---
g. Companies in the same industry provide among themselves jointly and severally guarantee for a performance<br>guarantee of a sales contract for pre-construction homes pursuant to the Consumer Protection Act for each other.
--- ---
Note 3: The limits on endorsement or guarantee amount provided to each guaranteed party is up to 10% of the net assets<br>value of the latest financial statements of Senao International Co., Ltd.
--- ---
Note 4: The total amount of endorsement or guarantee that the Company is allowed to provide is up to 50% of the net<br>assets value of the latest financial statements of Senao International Co., Ltd.
--- ---
  • 78 -

TABLE 2

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

SIGNIFICANT MARKETABLE SECURITIES HELD

MARCH 31, 2026

(Amounts in Thousands of New Taiwan Dollars)

Held Company Name Marketable SecuritiesType and Name Relationship withthe Company Financial StatementAccount March 31, 2026 Note
Shares<br>(Thousands/<br>Thousand Units) Carrying Value<br>(Note 1) Percentage ofOwnership Fair Value
Chunghwa Telecom Co., Ltd. Stocks
Taipei Financial Center Corp. — Financial assets at FVOCI - noncurrent 172,927 $ 4,302,694 12 $ 4,302,694 —
iKala Global Online Corp. — Financial assets at FVOCI - noncurrent 112,500 254,909 — 254,909 Note 4
KKCompany Technologies Inc. — Financial assets at FVOCI - noncurrent 12,039 1,054,796 8 1,054,796 —
4 Gamers Entertainment Inc. — Financial assets at FVOCI - noncurrent 136 116,199 — 116,199 Note 4
Industrial Bank of Taiwan II Venture Capital Co., Ltd. (IBT II) — Financial assets at FVOCI - noncurrent 5,252 20,336 17 20,336 —
Taiwan mobile payment Co., Ltd. — Financial assets at FVOCI- noncurrent 1,200 4,806 2 4,806 —
Innovation Works Limited — Financial assets at FVOCI- noncurrent 1,000 6,869 — 6,869 Note 4
RPTI Intergroup International Ltd. — Financial assets at FVOCI- noncurrent 4,765 — 10 — —
Global Mobile Corp. — Financial assets at FVOCI- noncurrent 7,617 — 3 — —
Taiwan Smart Electricity & Energy Co., Ltd. — Financial assets at FVOCI- noncurrent 19,688 154,724 13 154,724 —
Cornerstone Ventures Co., Ltd. — Financial assets at FVOCI- noncurrent 25 175 5 175 —
Da Da Broadband Ltd. — Financial assets at FVOCI- noncurrent 4,800 288,000 8 288,000 Note 5
Manuscript Inc. — Financial assets at FVOCI- noncurrent 13 42,270 8 42,270 —
Taiwania Capital Buffalo Fund Co., Ltd. — Financial assets at FVTPL - noncurrent 555,600 363,895 — 363,895 Note 4
TOP TAIWAN XIV VENTURE CAPITAL CO., LTD. — Financial assets at FVTPL - noncurrent 20,000 193,702 9 193,702 —
Innovation Works Development Fund, L.P. — Financial assets at FVTPL - noncurrent — 11,018 4 11,018 —
Limited partnership
Taiwania Capital Buffalo Fund VI, L.P. — Financial assets at FVTPL - noncurrent — 350,759 10 350,759 —
TRF 1 L.P. — Financial assets at FVTPL - noncurrent — 181,332 10 181,332 —
Corporate bonds
Fubon Life Insurance Co., Ltd. — Financial assets at amortized cost 2 2,000,000 — 1,999,986 Note 3
Senao International Co., Ltd. Stocks
N.T.U. Innovation Incubation Corporation — Financial assets at FVOCI - noncurrent 1,200 9,732 9 9,732 —

(Continued)

  • 79 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

SIGNIFICANT MARKETABLE SECURITIES HELD

MARCH 31,2026

(Amounts in Thousands of New Taiwan Dollars)

Held Company Name Marketable SecuritiesType and Name Relationship withthe Company Financial StatementAccount March 31, 2026 Note
Shares<br>(Thousands/<br>Thousand Units) Carrying Value<br>(Note 1) Percentage ofOwnership Fair Value
Chunghwa Investment Co., Ltd. Stocks
PChome Online Inc. — Financial assets at FVOCI - noncurrent 1,875 $ 42,006 1 $ 42,006 Note 2
Tatung Technology Inc. — Financial assets at FVOCI - noncurrent 4,571 43,342 11 43,342 —
Bossdom Digiinnovation Co., Ltd. — Financial assets at FVOCI - noncurrent 2,309 16,995 7 16,995 Note 2
KEYXENTIC INC. — Financial assets at FVOCI - noncurrent 600 27,144 9 27,144 —
ioNetworks Inc. — Financial assets at FVOCI - noncurrent 107 11,232 — 11,232 Note 4
iSing99 Inc. — Financial assets at FVOCI - noncurrent 10,000 — 7 — —
Powtec ElectroChemical Corporation — Financial assets at FVOCI - noncurrent 20,000 — 2 — —
Horng Yu Electric Co., Ltd. — Financial assets at FVOCI - noncurrent 400 161,800 1 161,800 Note 2
Navstar Electronics Co., Ltd. — Financial assets at FVTPL - noncurrent 3,000 39,303 — 39,303 Note 4
Limited partnership
Taiwania Capital Buffalo Fund V, L.P. — Financial assets at FVTPL - noncurrent — 26,581 3 26,581 —
TestPro Investment Co., Ltd. Stocks
Yokowo Co., Ltd — Financial assets at FVOCI - noncurrent 124 73,274 1 73,274 Note 2
CHT Security Co., Ltd. Stocks
TXOne Networks Inc. — Financial assets at FVTPL - noncurrent 91 14,281 — 14,281 Note 4
CyCraft Technology Corporation — Financial assets at FVOCI - noncurrent 912 73,864 3 73,864 Notes 2<br>and 6
Fubon Financial Holding Co., Ltd. — Financial assets at FVOCI - noncurrent 36 1,858 — 1,858 Notes 2<br>and 4
Corporate bonds
Mercuries Life Insurance Co., Ltd. — Financial assets at amortized cost — 20,294 — 20,196 Note 3

Note 1: Except debt instrument investments are shown at amortized cost, the remaining are shown at carrying amounts with fair value adjustments.

Note 2: Fair value was based on the closing price on the last trading day of the reporting period in the stock market.

Note 3: Fair value was based on the weighted average price per 100 units of par value for bonds on the last trading day of the reporting period in the over-the-counter market.

Note 4: Preferred stocks.

Note 5: Da Da Broadband Ltd. was listed on the emerging stock market in January 2026.

Note 6: CyCraft Technology Corporation was listed in February 2026.

(Concluded)

  • 80 -

TABLE 3

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

TOTALPURCHASES FROM OR SALES TO RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL

THREE MONTHS ENDED MARCH 31, 2026

(Amounts in Thousands of New Taiwan Dollars)

Company Name Related Party Nature of Relationship Transaction Details Abnormal Transaction (Note 3) Notes / Accounts Payableor Receivable
Purchases/Sales<br>(Note 1) Amount<br>(Note 4) % to Total Payment Terms Unit Price Payment Terms Ending Balance<br>(Notes 2 and 4) % to Total
Chunghwa Telecom Co., Ltd. Senao International Co., Ltd. Subsidiary Sales $ 1,421,721 3 30 days $ — — $ 349,947 1
Purchase 391,566 1 30~90 days — — (1,163,085 ) (10 )
CHIEF Telecom Inc. Subsidiary Sales 128,119 — 30 days — — 75,358 —
Chunghwa System Integration Co., Ltd. Subsidiary Purchase 395,672 1 30 days — — (394,252 ) (3 )
Honghwa International Co., Ltd. Subsidiary Purchase 1,737,619 6 30~60 days — — (1,170,337 ) (10 )
Donghwa Telecom Co., Ltd. Subsidiary Purchase 127,038 — 90 days — — (170,104 ) (1 )
CHT Security Co., Ltd. Subsidiary Purchase 106,041 — 30 days — — (67,190 ) (1 )
International Integrated Systems, Inc. Subsidiary Purchase 221,162 1 30 days — — (63,536 ) (1 )
Note 1: Purchases include costs to acquire services.
--- ---
Note 2: Notes and accounts receivable did not include the amounts collected for others and other receivables.<br>
--- ---
Note 3: Transaction terms with related parties were determined in accordance with mutual agreements when there were no<br>similar transactions with third parties. Other transactions with related parties were not significantly different from those with third parties.
--- ---
Note 4: All intercompany transactions, balances, income and expenses are eliminated upon consolidation.<br>
--- ---
  • 81 -

TABLE 4

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

RECEIVABLES FROM RELATED PARTIES AMOUNTING TO AT LEAST NT$100 MILLION OR 20% OF THE PAID-IN CAPITAL

MARCH 31, 2026

(Amounts in Thousands of New TaiwanDollars)

Company Name Related Party Nature of Relationship Ending Balance Turnover Rate<br>(Note 1) Overdue AmountsReceived inSubsequentPeriod Allowance for<br>Bad Debts
Amounts Action Taken
Chunghwa Telecom Co., Ltd. Senao International Co., Ltd. Subsidiary $ 482,500<br> <br>(Note 2 ) 10.92 $ — — $ 52,303 $ —
Senao International Co., Ltd. Chunghwa Telecom Co., Ltd. Parent company 1,388,075<br> <br>(Note 2 ) 7.68 — — 211,962 —
Chunghwa System Integration Co., Ltd. Chunghwa Telecom Co., Ltd. Parent company 394,252<br> <br>(Note 2 ) 4.80 — — 143,620 —
Honghwa International Co., Ltd. Chunghwa Telecom Co., Ltd. Parent company 1,191,823<br> <br>(Note 2 ) 5.11 — — 427,118 —
Donghwa Telecom Co., Ltd. Chunghwa Telecom Co., Ltd. Parent company 170,104<br> <br>(Note 2 ) 5.49 — — 53,703 —
Chunghwa Precision Test Tech. Co., Ltd. Su Zhou Precision Test Tech. Ltd. Subsidiary 73,884<br> <br>(Note 2 ) 2.59 — — 24,403 —

Note 1: Payments and receipts collected in trust for others are excluded from the accounts receivable in calculating the turnover rate.

Note 2: The amount was eliminated upon consolidation.

  • 82 -

TABLE 5

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NAMES,LOCATIONS, AND OTHER INFORMATION OF INVESTEES IN WHICH THE COMPANY EXERCISES SIGNIFICANT INFLUENCE (EXCLUDING INVESTMENT IN MAINLAND CHINA)

THREEMONTHS ENDED MARCH 31, 2026

(Amounts in Thousands of New Taiwan Dollars)

Investor Company Investee Company Location Main Businesses and Products Original Investment Amount Balance as of March 31, 2026 Net Income(Loss) of theInvestee RecognizedGain (Loss)<br>(Notes 1 and 2) Note
March 31,2026 December 31,2025 Shares<br>(Thousands) Percentage ofOwnership(%) Carrying Value
Chunghwa Telecom Co., Ltd. Senao International Co., Ltd. Taiwan Handset and peripherals retailer; sales of CHT mobile phone plans as an agent $ 1,065,813 $ 1,065,813 71,773 28 $ 1,651,857 $ 65,070 $ 16,693 Subsidiary<br>(Notes 3<br>and 5)
Light Era Development Co., Ltd. Taiwan Planning and development of real estate and intelligent buildings, and property management 3,000,000 3,000,000 300,000 100 3,829,477 974 (545 ) Subsidiary<br>(Note 5)
Donghwa Telecom Co., Ltd. Hong<br>Kong International private leased circuit, IP VPN service, and IP transit services 691,163 691,163 178,590 100 1,026,884 25,883 25,883 Subsidiary<br>(Note 5)
Chunghwa Telecom Singapore Pte., Ltd. Singapore International private leased circuit, IP VPN service, and IP transit services 574,112 574,112 26,383 100 1,509,039 124,696 124,698 Subsidiary<br>(Note 5)
Chunghwa System Integration Co., Ltd. Taiwan Providing system integration services and telecommunications equipment 838,506 838,506 60,000 100 706,357 7,491 16,382 Subsidiary<br>(Note 5)
CHIEF Telecom Inc. Taiwan Network integration, internet data center (“IDC”), communications integration and cloud application<br>services 459,652 459,652 43,368 56 1,871,067 286,776 163,203 Subsidiary<br>(Note 5)
Chunghwa Investment Co., Ltd. Taiwan Investment 639,559 639,559 68,085 89 4,001,139 112,314 99,993 Subsidiary<br>(Note 5)
Prime Asia Investments Group Ltd. British<br>Virgin<br>Islands Investment 385,274 385,274 1 100 184,555 (1,740 ) (1,740 ) Subsidiary<br>(Note 5)
Honghwa International Co., Ltd. Taiwan Telecommunication engineering, sales agent of mobile phone plan application and other business services, etc. 180,000 180,000 18,000 100 825,062 97,358 99,443 Subsidiary<br>(Notes 3<br>and 5)
CHYP Multimedia Marketing & Communications Co., Ltd. Taiwan Digital information supply services and advertisement services 150,000 150,000 15,000 100 197,647 2,161 2,268 Subsidiary<br>(Note 5)
Chunghwa Telecom Vietnam Co., Ltd. Vietnam Intelligent energy saving solutions, international circuit, and information and communication technology<br>(“ICT”) services 148,275 148,275 — 100 75,463 (1,835 ) (1,835 ) Subsidiary<br>(Note 5)
Chunghwa Telecom Global, Inc. United<br>States International private leased circuit, internet services, and transit services 70,429 70,429 6,000 100 962,126 25,782 25,782 Subsidiary<br>(Note 5)
CHT Security Co., Ltd. Taiwan Computing equipment installation, wholesale of computing and business machinery equipment and software, management<br>consulting services, data processing services, digital information supply services and internet identify services 230,580 230,580 23,058 57 1,195,627 137,499 84,618 Subsidiary<br>(Note 5)
Chunghwa Telecom (Thailand) Co., Ltd. Thailand International private leased circuit, IP VPN service, ICT and cloud VAS services 119,624 119,624 1,300 100 159,469 (335 ) (335 ) Subsidiary<br>(Note 5)
Spring House Entertainment Tech. Inc. Taiwan Software design services, internet contents production and play, and motion picture production and distribution 62,209 62,209 8,251 56 167,125 5,173 2,899 Subsidiary<br>(Note 5)
. Chunghwa Leading Photonics Tech Co., Ltd. Taiwan Production and sale of electronic components and finished products 70,500 70,500 7,050 62 255,499 60,188 37,335 Subsidiary<br>(Note 5)
Smartfun Digital Co., Ltd. Taiwan Providing diversified family education digital services 65,000 65,000 6,500 65 86,101 1,180 (2 ) Subsidiary<br>(Note 5)
Chunghwa Telecom Japan Co., Ltd. Japan International private leased circuit, IP VPN service, and IP transit services 17,291 17,291 1 100 373,900 15,933 16,204 Subsidiary<br>(Note 5)
International Integrated Systems, Inc. Taiwan IT solution provider, IT application consultation, system integration and package solution 503,369 503,369 35,920 45 714,384 12,934 8,930 Subsidiary<br>(Note 5)
Chunghwa Digital Cultural and Creative Capital Co., Ltd Taiwan Investment and management consulting 50,000 50,000 5,000 100 25,261 (2,998 ) (3,039 ) Subsidiary<br>(Note 5)
Chunghwa Telecom Europe GmbH Germany International private leased circuit, internet services, transit services and ICT services 122,675 122,675 3,500 100 109,783 (3,933 ) (3,933 ) Subsidiary<br>(Note 5)
CHT InventAI Co., Ltd. Taiwan AI software, system development, application services, and enterprise consulting 120,000 120,000 12,000 80 113,531 (7,262 ) (5,973 ) Subsidiary<br>(Note 5)

(Continued)

  • 83 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NAMES, LOCATIONS, AND OTHER INFORMATION OF INVESTEES IN WHICH THE COMPANY EXERCISES SIGNIFICANT INFLUENCE (EXCLUDING INVESTMENT IN MAINLAND CHINA)

THREE MONTHS ENDED MARCH 31, 2026

(Amounts inThousands of New Taiwan Dollars)

Investor Company Investee Company Location Main Businesses and Products Original Investment Amount Balance as of March 31, 2026 Net Income(Loss) of theInvestee RecognizedGain (Loss)<br>(Notes 1 and 2) Note
March 31,2026 December 31,2025 Shares<br>(Thousands) Percentage ofOwnership(%) Carrying Value
Chunghwa Digital Cultural and Creative Fund Taiwan Investment $ 640,000 $ — — 64 $ 640,000 $ — $ — Subsidiary<br>(Note 5)
Viettel-CHT Co., Ltd. Vietnam IDC services 293,582 293,582 — 30 615,032 110,576 33,173 Associate
Taiwan International Standard Electronics Co., Ltd. Taiwan Manufacturing, selling, designing, and maintaining of telecommunications systems and equipment 164,000 164,000 1,760 40 417,132 92,808 39,043 Associate
So-net Entertainment Taiwan Limited Taiwan Online service and sale of computer hardware 120,008 120,008 9,429 30 79,199 (158,793 ) (47,638 ) Associate
KingwayTek Technology Co., Ltd. Taiwan Design and sale of digital map, technical support for computer peripherals device, design and development of system<br>programming projects 66,684 66,684 12,720 23 268,490 36,953 8,418 Associate
Taiwan International Ports Logistics Corporation Taiwan Import and export storage, logistic warehouse, and ocean shipping service 80,000 80,000 8,000 27 143,188 29,992 7,999 Associate
Chunghwa PChome Fund I Co., Ltd. Taiwan Investment, venture capital, investment advisor, management consultant and other consultancy service 200,000 200,000 20,000 50 250,736 (3,043 ) (1,522 ) Associate
Next Commercial Bank Co., Ltd. Taiwan Online banking business 5,733,847 5,733,847 462,643 46 3,485,990 (209,257 ) (95,257 ) Associate
Chunghwa SEA Holdings Taiwan Investment business 10,200 10,200 1,020 51 9,083 — — Joint<br>venture
WiAdvance Technology Corporation Taiwan Software solution integration 273,800 273,800 3,700 16 258,061 (11,060 ) (2,509 ) Associate
Taiwania Hive Technology Fund L.P. Cayman<br>Islands Investment business 288,405 288,405 — 40 228,855 (13,070 ) (5,203 ) Associate
Chunghwa Sochamp Technology Inc. Taiwan Design, development and production of Automatic License Plate Recognition software and hardware 20,400 20,400 2,040 37 — — — Associate
Joint Journey Creative Co., Ltd. Taiwan Film production and investment 240,000 — 24,000 20 239,669 (1,655 ) (331 ) Associate
Senao International Co., Ltd. Senao Networks, Inc. Taiwan Telecommunication facilities manufactures and sales 578,186 578,186 19,582 33 2,028,535 5,959 1,976 Associate
Youth Co., Ltd. Taiwan Sale of information and communication technologies products 427,850 427,850 14,752 96 153,800 558 (143 ) Subsidiary<br>(Note 5)
Aval Technologies Co., Ltd. Taiwan Sale of information and communication technologies products 89,550 89,550 13,740 100 159,266 3,933 3,935 Subsidiary<br>(Note 5)
Senyoung Insurance Agent Co., Ltd. Taiwan Property and liability insurance agency 59,000 59,000 8,909 100 149,083 7,740 7,740 Subsidiary<br>(Note 5)
Sakuyo Health Science Co., Ltd. Japan Health product development and supply chain management — — — 100 — — — Subsidiary
CHIEF Telecom Inc. Unigate Telecom Inc. Taiwan Telecommunications and internet service 2,000 2,000 200 100 1,570 38 38 Subsidiary<br>(Note 5)
Chief International Corp. Samoa<br>Islands Telecommunications and internet service 6,068 6,068 200 100 23,258 759 759 Subsidiary<br>(Note 5)
Chunghwa Telecom Singapore Pte., Ltd. ST-2 Satellite Ventures Pte., Ltd. Singapore Operation of ST-2 telecommunications satellite 21,309 21,309 943 38 409,245 127,243 48,518 Associate
CHT Infinity Singapore Pte., Ltd. Singapore Investment business 55,720 55,720 2,000 40 54,251 612 244 Associate
Chunghwa Telecom Malaysia SDN. BHD. Malaysia International private leased circuit, IP VPN service, and ICT services 45,540 45,540 6,219 100 43,582 (1,780 ) (1,780 ) Subsidiary<br>(Note 5)
Chunghwa Investment Co., Ltd. Chunghwa Precision Test Tech. Co., Ltd. Taiwan Production and sale of semiconductor testing components and printed circuit board 175,951 175,951 11,063 34 3,308,705 341,881 115,349 Subsidiary<br>(Note 5)
CHIEF Telecom Inc. Taiwan Network integration, internet data center (“IDC”), communications integration and cloud application<br>services 19,064 19,064 2,286 3 88,408 286,776 8,445 Associate<br>(Note 5)
Senao International Co., Ltd. Taiwan Selling and maintaining mobile phones and its peripheral products 49,731 49,731 1,001 — 44,418 65,070 252 Associate<br>(Note 5)
Imedtac Co., Ltd. Taiwan Providing medical AIoT solution, biomedical engineering services, and sales of medical device as an agent 91,381 91,381 2,559 10 51,838 (14,851 ) (1,770 ) Associate
Porrima Inc. Taiwan Designing and selling zero-emission ships 80,000 80,000 8,000 9 72,425 (14,109 ) (1,306 ) Associate
Gather Works Co., Ltd. Taiwan Film and drama IP development, copyright management and copyright sales 14,400 14,400 1,440 48 11,277 (1,763 ) (846 ) Associate

(Continued)

  • 84 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NAMES, LOCATIONS, AND OTHER INFORMATION OF INVESTEES IN WHICH THE COMPANY EXERCISES SIGNIFICANT INFLUENCE (EXCLUDING INVESTMENT IN MAINLAND CHINA)

THREE MONTHS ENDED MARCH 31, 2026

(Amounts inThousands of New Taiwan Dollars)

Investor Company Investee Company Location Main Businesses and Products Original Investment Amount Balance as of March 31, 2026 Net Income(Loss) of theInvestee Recognized Gain (Loss)<br>(Notes 1 and 2) Note
March 31,2026 December 31,2025 Shares<br>(Thousands) Percentage ofOwnership(%) Carrying Value
Chunghwa Precision Test Tech. Co., Ltd. Chunghwa Precision Test Tech USA Corporation United<br>States Design and after-sale services of semiconductor testing components and printed circuit board $ 74,192 $ 74,192 2,600 100 $ 109,711 $ 698 $ 707 Subsidiary<br>(Note 5)
CHPT Japan Co., Ltd. Japan Related services of electronic parts, machinery processed products and printed circuit board 2,008 2,008 1 100 2,256 39 39 Subsidiary<br>(Note 5)
Chunghwa Precision Test Tech. International, Ltd. Samoa<br>Islands Wholesale and retail of electronic materials, and investment 173,649 173,649 5,700 100 142,385 11,190 5,883 Subsidiary<br>(Note 5)
TestPro Investment Co., Ltd. Taiwan Investment 195,000 195,000 19,500 100 94,933 (3,088 ) (2,619 ) Subsidiary<br>(Note 5)
TestPro Investment Co., Ltd. NavCore Tech. Co., Ltd Taiwan Sale and manufacturing of smart equipment, smart factory software and hardware integration and technical consulting<br>service 108,500 108,500 10,850 54 13,977 (6,913 ) (3,750 ) Subsidiary<br>(Note 5)
Prime Asia Investments Group, Ltd. Chunghwa Hsingta Co., Ltd. Hong<br>Kong Investment 375,274 375,274 1 100 184,555 (1,740 ) (1,740 ) Subsidiary<br>(Note 5)
Youth Co., Ltd. ISPOT Co., Ltd. Taiwan Sale of information and communication technologies products 53,021 53,021 — 100 14,412 442 442 Subsidiary<br>(Note 5)
Aval Technologies Co., Ltd. Wiin Technology Co., Ltd. Taiwan Sale of information and communication technologies products 29,550 29,550 5,029 100 65,401 3,277 3,277 Subsidiary<br>(Note 5)
CHYP Multimedia Marketing & Communications Co., Ltd Click Force Marketing Company Taiwan Advertisement services 44,607 44,607 2,450 49 41,471 (219 ) (107 ) Associate
International Integrated Systems, Inc. Unitronics Technology Corp. Taiwan Development and maintenance of information system 55,610 55,610 5,067 100 60,944 41 41 Subsidiary<br>(Note 5)
CHT Security Co., Ltd. Baohwa Trust Co., Ltd. Taiwan VR integration and AIoT security services 20,000 20,000 2,000 25 20,412 8,573 2,143 Associate
Chunghwa Digital Cultural and Creative Capital Co., Ltd Chunghwa Digital Cultural and Creative Fund Taiwan Investment 10,000 — — 1 10,000 — — Subsidiary<br>(Note 5)
Note 1: The amounts were based on reviewed financial statements.
--- ---
Note 2: Recognized gain (loss) of investees includes amortization of differences between the investment cost and net<br>value and elimination of unrealized transactions.
--- ---
Note 3: Recognized gain (loss) and carrying value of the investees did not include the adjustment of the difference<br>between the accounting treatment on standalone basis and consolidated basis as a result of the application of IFRS 15.
--- ---
Note 4: Investments in mainland China are included in Table 6.
--- ---
Note 5: The amount was eliminated upon consolidation. (Concluded)
--- --- ---
  • 85 -
TABLE 6<br> <br><br><br><br>CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES<br> <br><br><br><br>INVESTMENTS IN MAINLAND CHINA<br> <br>THREE MONTHS ENDED MARCH31, 2026<br> <br>(Amounts in Thousands of New Taiwan Dollars)
Investee Main<br>Businesses<br>and<br>Products Total Amountof Paid-inCapital InvestmentType<br>(Note 1) AccumulatedOutflow of<br>Investment<br>from Taiwan<br>as of<br>January 1,<br>2026 Investment<br>Flows AccumulatedOutflow of<br>Investment<br>from Taiwan<br>as of<br>March 31,<br>2026 Net Income(Loss) of theInvestee % Ownershipof Direct orIndirectInvestment Investment<br>Gain(Loss)<br>(Note 2) Carrying Valueas of<br>March 31,<br>2026 AccumulatedInward<br>Remittance<br>of Earnings as of March 31,2026 Note
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Outflow Inflow
Chunghwa Telecom (China) Co., Ltd. Integrated<br>information and<br>communication<br>solution services for<br>enterprise clients,<br>and intelligent<br>energy network<br>service $ 177,176 2 $ 177,176 $ — $ — $ 177,176 $ — 100 $ — $ — $ — Notes 6 and 10
Jiangsu Zhenghua Information Technology Company, LLC Providing intelligent<br>energy saving<br>solution and<br>intelligent buildings<br>services 189,410 2 142,057 — — 142,057 — 75 — — — Notes 7 and 10
Shanghai Taihua Electronic Technology Limited Design of printed<br>circuit board and<br>related consultation<br>service 51,233 2 51,233 — — 51,233 328 100 328 10,397 — Notes 8 and 10
Su Zhou Precision Test Tech. Ltd. Assembly processed<br>of circuit board,<br>design of printed<br>circuit board and<br>related consultation<br>service 119,199 2 119,199 — — 119,199 10,830 100 10,830 154,167 — Notes 8 and 10
Shanghai Chief Telecom Co., Ltd. Telecommunications<br>and internet service 10,150 1 4,973 — — 4,973 1,562 49 765 6,972 12,880 Notes 9 and 10
Investee Accumulated Investment in<br>Mainland China as of<br>March 31, 2026 Investment AmountsAuthorized by InvestmentCommission, MOEA Upper Limit on InvestmentStipulated by InvestmentCommission, MOEA
--- --- --- --- --- --- ---
Chunghwa Telecom Co., Ltd. (Note 3) $ 319,233 $ 319,233 $ 246,859,608
Chunghwa Precision Test Tech. Co., Ltd. and its subsidiaries (Note 4) 170,432 216,185 5,888,152
CHIEF Telecom Inc. and its subsidiaries (Note 5) 4,973 4,973 1,791,265
Note 1: Investments are divided into three categories as follows:
--- ---
a. Direct investment.
--- ---
b. Investments through a holding company registered in a third region.
--- ---
c. Others.
--- ---
Note 2: The amounts were calculated based on the investee’s reviewed financial statements.
--- ---
Note 3: Chunghwa Telecom Co., Ltd. was calculated based on the consolidated net assets value of Chunghwa Telecom Co.,<br>Ltd.
--- ---
Note 4: Chunghwa Precision Test Tech. Co., Ltd. and its subsidiaries were calculated based on the consolidated net<br>assets value of Chunghwa Precision Test Tech. Co., Ltd.
--- ---
Note 5: CHIEF Telecom Inc. and its subsidiaries were calculated based on the consolidated net assets value of CHIEF<br>Telecom Inc.
--- ---
Note 6: Chunghwa Telecom (China) Co., Ltd., a reinvestment through Chunghwa Hsingta Co., Ltd., completed its<br>liquidation in October 2022.
--- ---
Note 7: Jiangsu Zhenhua Information Technology Company, LLC., a reinvestment through Chunghwa Hsingta Co., Ltd.,<br>completed its liquidation in December 2018.
--- ---
Note 8: Shanghai Taihua Electronic Technology Limited and Su Zhou Precision Test Tech. Ltd. were reinvestments through<br>Chunghwa Precision Test Tech. International, Ltd.
--- ---
Note 9: Shanghai Chief Telecom Co., Ltd. was a reinvestment through CHIEF Telecom Inc.
--- ---
Note 10: The amount was eliminated upon consolidation.
--- ---
  • 86 -

TABLE 7

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

INTERCOMPANY RELATIONSHIPS AND SIGNIFICANT TRANSACTIONS

THREE MONTHS ENDED MARCH 31, 2026

(Amounts inThousands of New Taiwan Dollars)

Year No.<br>(Note 1) Company Name Related Party Nature ofRelationship<br>(Note 2) Transaction Details
Financial Statement Account Amount<br>(Note 5) Payment Terms<br>(Note 3) % to Total Sales or Assets (Note 4)
2026 0 Chunghwa Telecom Co., Ltd. Senao International Co., Ltd. a Accounts receivable $ 349,947 — —
Accrued custodial receipts 132,553 — —
Accounts payable 1,163,085 — —
Amounts collected for others 224,990 — —
Revenues 1,421,721 — 2
Operating costs and expenses 391,566 — 1
CHIEF Telecom Inc. a Revenues 128,119 — —
Chunghwa System Integration Co., Ltd. a Accounts payable 394,252 — —
Operating costs and expenses 395,672 — 1
Honghwa International Co., Ltd. a Accounts payable 1,170,337 — —
Operating costs and expenses 1,737,619 — 3
Donghwa Telecom Co., Ltd. a Accounts payable 170,104 — —
Operating costs and expenses 127,038 — —
Chunghwa Telecom Singapore Pte., Ltd. a Accounts payable 177,839 — —
CHT Security Co., Ltd. a Operating costs and expenses 106,041 — —
International Integrated Systems, Inc. a Operating costs and expenses 221,162 — —
Note 1: Significant transactions between the Company and its subsidiaries or among subsidiaries are numbered as<br>follows:
--- ---
a. “0” for the Company.
--- ---
b. Subsidiaries are numbered from “1”.
--- ---
Note 2: Related party transactions are divided into three categories as follows:
--- ---
a. The Company to subsidiaries.
--- ---
b. Subsidiaries to the Company.
--- ---
c. Subsidiaries to subsidiaries.
--- ---
Note 3: Transaction terms with the related parties were determined in accordance with mutual agreements when there were<br>no similar transactions with third parties. Other transactions with related parties were not significantly different from those with third parties.
--- ---
Note 4: For assets and liabilities, amount is shown as a percentage to consolidated total assets as of March 31,<br>2026, while revenues, costs and expenses are shown as a percentage to consolidated revenues for the three months ended March 31, 2026.
--- ---
Note 5: The amount was eliminated upon consolidation.
--- ---
  • 87 -

EX-99.3

Exhibit 99.3

Chunghwa Telecom Co., Ltd. and Subsidiaries

Consolidated Financial Statements for the

ThreeMonths Ended March 31, 2026 and 2025

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In Millions of New TaiwanDollars)

March 31, 2026<br>(Unaudited) December 31, 2025<br>(Audited) March 31, 2025<br>(Unaudited)
ASSETS **** Amount % **** Amount % **** Amount %
CURRENT ASSETS
Cash and cash equivalents $ 35,231 6 $ 36,944 7 $ 29,048 5
Financial assets at fair value through profit or loss — — 3 — 5 —
Financial assets at fair value through other
comprehensive income — — 19 — — —
Hedging financial assets — — 3 — — —
Contract assets 8,809 2 8,576 2 8,487 2
Trade notes and accounts receivable, net 29,146 6 27,396 5 22,497 4
Receivables from related parties 178 — 213 — 155 —
Inventories 14,904 3 13,179 2 11,916 2
Prepayments 8,198 1 3,790 1 6,409 1
Other current monetary assets 33,626 6 23,468 4 36,773 7
Incremental costs of obtaining contracts 339 — 339 — 339 —
Other current assets 4,033 1 3,441 1 2,994 1
Total current assets 134,464 25 117,371 22 118,623 22
NONCURRENT ASSETS
Financial assets at fair value through profit or loss 1,239 — 1,211 — 1,083 —
Financial assets at fair value through other
comprehensive income 6,707 1 6,787 1 5,300 1
Financial assets at amortized cost 2,020 — 2,020 — 2,000 —
Investments accounted for using equity method 8,490 2 8,264 2 8,926 2
Contract assets 4,834 1 4,733 1 4,354 1
Property, plant and equipment 282,833 51 288,165 55 286,590 53
Right-of-use<br>assets 10,476 2 10,764 2 11,321 2
Investment properties 14,103 3 12,420 2 12,293 2
Intangible assets 58,261 11 59,762 11 64,647 12
Deferred income tax assets 1,796 — 1,782 — 1,749 —
Incremental costs of obtaining contracts 1,052 — 1,109 — 1,209 —
Net defined benefit assets 10,022 2 9,866 2 9,072 3
Prepayments 6,174 1 5,931 1 4,790 1
Other noncurrent assets 5,147 1 5,495 1 5,075 1
Total noncurrent assets 413,154 75 418,309 78 418,409 78
TOTAL $ 547,618 100 $ 535,680 100 $ 537,032 100
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Short-term loans $ 540 — $ 340 — $ 530 —
Financial liabilities at fair value through profit or loss 2 — — — — —
Hedging financial liabilities 2 — — — — —
Contract liabilities 22,647 4 21,296 4 16,582 3
Trade notes and accounts payable 13,846 3 15,923 3 10,693 2
Payables to related parties 144 — 177 — 120 —
Current tax liabilities 10,340 2 7,346 2 9,706 2
Lease liabilities 3,951 1 3,890 1 3,739 1
Other payables 26,053 5 28,716 5 23,586 4
Provisions 541 — 525 — 669 —
Current portion of long-term loans 5,399 1 1,900 — 8,805 2
Other current liabilities 948 — 957 — 1,017 —
Total current liabilities 84,413 16 81,070 15 75,447 14
NONCURRENT LIABILITIES
Long-term loans 1,600 — 1,600 — 1,629 —
Bonds payable 21,688 4 23,288 4 21,690 4
Contract liabilities 6,647 1 6,567 1 7,407 1
Deferred income tax liabilities 2,888 1 2,829 1 2,714 2
Provisions 563 — 560 — 308 —
Lease liabilities 6,574 1 7,001 1 7,462 1
Customers’ deposits 5,223 1 5,262 1 5,161 1
Net defined benefit liabilities 2,363 — 2,329 1 2,120 —
Other noncurrent liabilities 7,032 1 6,703 1 7,581 1
Total noncurrent liabilities 54,578 9 56,139 10 56,072 10
Total liabilities 138,991 25 137,209 25 131,519 24
EQUITY ATTRIBUTABLE TO STOCKHOLDERS OF THE PARENT
Common stocks 77,574 14 77,574 14 77,574 14
Additional paid-in capital 150,946 28 150,923 29 150,063 28
Retained earnings
Legal reserve 77,574 14 77,574 14 77,574 14
Special reserve 2,676 1 2,676 1 2,676 —
Unappropriated earnings 83,975 15 74,364 14 83,681 17
Total retained earnings 164,225 30 154,614 29 163,931 31
Others 941 — 1,020 — 1,231 —
Total equity attributable to stockholders of the parent 393,686 72 384,131 72 392,799 73
NONCONTROLLING INTERESTS 14,941 3 14,340 3 12,714 3
Total equity 408,627 75 398,471 75 405,513 76
TOTAL $ 547,618 100 $ 535,680 100 $ 537,032 100
  • 1 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(InMillions of New Taiwan Dollars, Except Earnings Per Share)

(Unaudited)

Three Months Ended March 31
2026 2025
Amount % Amount %
REVENUES $ 59,988 100 $ 55,808 100
OPERATING COSTS 37,238 62 34,203 61
GROSS PROFIT 22,750 38 21,605 39
OPERATING EXPENSES
Marketing 6,428 11 6,140 11
General and administrative 1,972 3 1,793 3
Research and development 1,115 2 1,030 2
Expected credit loss 132 — 120 —
Total operating expenses 9,647 16 9,083 16
OTHER INCOME AND EXPENSES 2 — 1 —
INCOME FROM OPERATIONS 13,105 22 12,523 23
NON-OPERATING INCOME AND EXPENSES
Interest income 198 — 212 —
Other income 41 — 37 —
Other gains and losses (45 ) — (25 ) —
Interest expense (103 ) — (89 ) —
Share of profit or loss of associates and joint ventures accounted for using equity method (18 ) — 38 —
Total non-operating income and expenses 73 — 173 —
INCOME BEFORE INCOME TAX 13,178 22 12,696 23
INCOME TAX EXPENSE 3,056 5 2,964 5
NET INCOME 10,122 17 9,732 18
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)
Items that will not be reclassified to profit or loss:
Unrealized gain or loss on investments in equity instruments at fair value through other<br>comprehensive income (117 ) — 568 1
Gain or loss on hedging instruments subject to basis adjustment (5 ) — 1 —

(Continued)

  • 2 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(InMillions of New Taiwan Dollars, Except Earnings Per Share)

(Unaudited)

Three Months Ended March 31
2026 2025
Amount % Amount %
Share of other comprehensive income of associates and joint ventures $ (5 ) — $ 1 —
(127 ) — 570 1
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising from the translation of the foreign operations 72 — 74 —
Share of other comprehensive income of associates and joint ventures (7 ) — 7 —
65 — 81 —
Total other comprehensive income, net of income tax (62 ) — 651 1
TOTAL COMPREHENSIVE INCOME $ 10,060 17 $ 10,383 19
NET INCOME ATTRIBUTABLE TO
Stockholders of the parent $ 9,611 16 $ 9,319 17
Noncontrolling interests 511 1 413 1
$ 10,122 17 $ 9,732 18
COMPREHENSIVE INCOME ATTRIBUTABLE TO
Stockholders of the parent $ 9,532 16 $ 9,964 18
Noncontrolling interests 528 1 419 1
$ 10,060 17 $ 10,383 19
EARNINGS PER SHARE
Basic $ 1.24 $ 1.20
Diluted $ 1.24 $ 1.20

(Concluded)

  • 3 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(InMillions of New Taiwan Dollars)

(Unaudited)

Equity Attributable to Stockholders of the Parent
Others
Exchange
Differences
Arising Unrealized
from the Gain or Loss Total Equity
Retained Earnings Translation of on Financial Gain or Loss Attributable to
Additional Special Unappropriated Total Retained the Foreign Assets at on Hedging Stockholders Noncontrolling
Common Stocks Paid-in Capital Legal Reserve Reserve Earnings Earnings Operations FVOCI Instruments Total Others of the Parent Interests Total Equity
BALANCE, JANUARY 1, 2025 $ 77,574 $ 150,054 $ 77,574 $ 2,676 $ 74,362 $ 154,612 $ 23 $ 564 $ (1 ) $ 586 $ 382,826 $ 12,980 $ 395,806
Cash dividends by subsidiaries — — — — — — — — — — — (710 ) (710 )
Net income for the three months ended March 31, 2025 — — — — 9,319 9,319 — — — — 9,319 413 9,732
Other comprehensive income for the three months ended March 31, 2025 — — — — — — 70 574 1 645 645 6 651
Total comprehensive income for the three months ended March 31, 2025 — — — — 9,319 9,319 70 574 1 645 9,964 419 10,383
Changes in equities of subsidiaries — 9 — — — — — — — — 9 (7 ) 2
Net increase in noncontrolling interests — — — — — — — — — — — 32 32
BALANCE, MARCH 31, 2025 $ 77,574 $ 150,063 $ 77,574 $ 2,676 $ 83,681 $ 163,931 $ 93 $ 1,138 $ — $ 1,231 $ 392,799 $ 12,714 $ 405,513
BALANCE, JANUARY 1, 2026 $ 77,574 $ 150,923 $ 77,574 $ 2,676 $ 74,364 $ 154,614 $ (192 ) $ 1,209 $ 3 $ 1,020 $ 384,131 $ 14,340 $ 398,471
Cash dividends by subsidiaries — — — — — — — — — — — (610 ) (610 )
Change in additional paid-in capital for not participating<br>in the capital increase of subsidiaries — — — — — — — — — — — 30 30
Net income for the three months ended March 31, 2026 — — — — 9,611 9,611 — — — — 9,611 511 10,122
Other comprehensive income for the three months ended March 31, 2026 — — — — — — 67 (141 ) (5 ) (79 ) (79 ) 17 (62 )
Total comprehensive income for the three months ended March 31, 2026 — — — — 9,611 9,611 67 (141 ) (5 ) (79 ) 9,532 528 10,060
Changes in equities of subsidiaries — 23 — — — — — — — — 23 303 326
Net increase in noncontrolling interests — — — — — — — — — — — 350 350
BALANCE, MARCH 31, 2026 $ 77,574 $ 150,946 $ 77,574 $ 2,676 $ 83,975 $ 164,225 $ (125 ) $ 1,068 $ (2 ) $ 941 $ 393,686 $ 14,941 $ 408,627
  • 4 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions ofNew Taiwan Dollars)

(Unaudited)

Three Months Ended March 31
2026 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax $ 13,178 $ 12,696
Adjustments to reconcile income before income tax to net cash provided by operating<br>activities:
Depreciation 8,537 8,340
Amortization 1,664 1,669
Amortization of incremental costs of obtaining contracts 233 238
Expected credit loss 132 120
Valuation loss (gain) on financial assets and liabilities at fair value through profit or loss,<br>net 32 —
Interest expense 103 89
Interest income (198 ) (212 )
Dividend income (1 ) —
Compensation cost of share-based payment transactions — 1
Share of loss (gain) of associates and joint ventures accounted for using equity method 18 (38 )
Gain on disposal of property, plant and equipment (2 ) (1 )
Provision for impairment loss and obsolescence of inventory 19 38
Gain on disposal of subsidiaries — (15 )
Others (50 ) 50
Changes in operating assets and liabilities:
Decrease (increase) in:
Contract assets (335 ) (121 )
Trade notes and accounts receivable (1,865 ) 3,407
Receivables from related parties 35 38
Inventories (1,744 ) 127
Prepayments (4,415 ) (3,258 )
Other current assets (592 ) 118
Other current monetary assets (216 ) (119 )
Incremental cost of obtaining contracts (176 ) (225 )
Increase (decrease) in:
Contract liabilities 1,431 155
Trade notes and accounts payable (2,077 ) (7,041 )
Payables to related parties (33 ) (360 )
Other payables (2,372 ) (2,349 )
Provisions 19 —
Net defined benefit plans (122 ) (177 )
Other current liabilities (11 ) (35 )
Cash generated from operations 11,192 13,135
Interests paid (72 ) (71 )
Income taxes paid (16 ) (113 )
Net cash provided by operating activities 11,104 12,951

(Continued)

  • 5 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions ofNew Taiwan Dollars)

(Unaudited)

Three Months Ended March 31
2026 2025
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of financial assets at fair value through other comprehensive income $ (37 ) $ (65 )
Proceeds from disposal of financial assets at fair value through other comprehensive<br>income 18 —
Acquisition of financial assets at fair value through profit or loss (60 ) (82 )
Acquisition of investments accounted for using equity method (240 ) —
Net cash outflow from loss of control of subsidiaries — (9 )
Acquisition of property, plant and equipment (4,550 ) (5,407 )
Proceeds from disposal of property, plant and equipment 6 2
Acquisition of intangible assets (79 ) (33 )
Acquisition of investment properties — (2 )
Acquisition of time deposits, negotiable certificates of deposit and commercial paper with<br>maturities of more than three months (21,530 ) (23,031 )
Proceeds from disposal of time deposits, negotiable certificates of deposit and commercial paper<br>with maturities of more than three months 11,658 9,705
Decrease (increase) in other noncurrent assets 347 (204 )
Increase in prepayments for leases (236 ) (342 )
Interests received 167 169
Dividends received 1 156
Proceeds from profit distribution of financial assets at fair value through profit or<br>loss 5 —
Net cash used in investing activities (14,530 ) (19,143 )
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term loans 675 530
Repayments of short-term loans (475 ) (150 )
Proceeds from issuance of bonds 2,569 —
Payments for transaction costs attributable to the issuance of bonds (5 ) —
Decrease in customers’ deposits (38 ) (141 )
Payments for the principal of lease liabilities (1,163 ) (1,203 )
Increase (decrease) in other noncurrent liabilities 296 (107 )
Cash dividends distributed to noncontrolling interests (216 ) (1 )
Change in other noncontrolling interests 32 13
Net cash provided by (used in) financing activities 1,675 (1,059 )
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 38 39

(Continued)

  • 6 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions ofNew Taiwan Dollars)

(Unaudited)

Three Months Ended March 31
2026 2025
NET DECREASE IN CASH AND CASH EQUIVALENTS $ (1,713 ) $ (7,212 )
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 36,944 36,260
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 35,231 $ 29,048

(Concluded)

  • 7 -

CHUNGHWA TELECOM CO., LTD. AND SUBSIDIARIES

NOTE TO CONSOLIDATED FINANCIAL STATEMENTS

Three MonthsEnded March 31, 2026 and 2025

(Unaudited)

STATEMENT OF COMPLIANCE

The Company has prepared its consolidated balance sheets as of March 31, 2026 and 2025, the related consolidated statements of comprehensive income, changes in equity and cash flows for the three months ended March 31, 2026 and 2025 in accordance with IAS 34 “Interim Financial Reporting” as issued by the International Accounting Standards Board (IASB). The consolidated financial statements are incomplete as they omit the related footnote disclosures as required under International Financial Reporting Standards as issued by IASB.

  • 8 -

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