The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

FOR IMMEDIATE RELEASE

CONTACT:

Brian F. Link, Secretary
1-800-426-5523
www.thetaiwanfund.com

The Taiwan Fund, Inc. Announces 3rd Quarter Earnings

BOSTON, Massachusetts, July 16, 2025--The Taiwan Fund, Inc. (the “Fund”) (NYSE: TWN) announced today details regarding its investment performance for the three month period ended May 31, 2025.

The Fund reported a net asset value per share of $46.82 as of the close of business on May 31, 2025. This represents an increase of $1.10 per share from the net asset value per share of $45.72 reported on Feb 28, 2025. The Fund's share price, as traded on the New York Stock Exchange on May 31, 2025, was $37.77, representing a discount to net asset value of 19.33%. This represents an increase of $0.53 per share from the share price of $37.24 on February 28, 2025, which represented a discount to net asset value of 18.55%. The Fund had a total return of 2.41% for the three months ended May 31, 2025 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 1.66% (in US$ terms).

For the nine month period ended May 31, 2025, the Fund’s net asset value per share decreased $6.96 per share from the net asset value per share of $53.78 reported on August 31, 2024. The reduction in net asset value reflects the $7.40 per share distribution to shareholders in December of 2024 as well as the Fund’s operating results as well as the accretive effects of the Share Repurchase Program. For the nine month period ended May 31, 2025, the share price, as traded on the NYSE, decreased $6.96 per share from the share price of $44.73 reported on August 31, 2024. The Fund had a total return of 3.57% for the nine month period ended May 31, 2025 based on the change in its net asset value and the Fund’s annual distribution. For the same period the TAIEX Total Return Index returned 3.04% (in US$ terms).

For the three month period ended May 31, 2025, the Fund had net realized gains of $1,149,165 on investments and foreign currency transactions and an increase in net unrealized appreciation of $3,628,968 on investments and foreign currency transactions. The Fund's net investment income (consisting of dividend and interest income less operating expenses) for the same period was $290,622.