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LETTER FROM THE CHAIRMAN

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With new coronavirus disease (COVID-19) on the rise, and facing unprecedented challenges from the pandemic, Chailease holds fast to its consistent management philosophy, responding in a thoughtful, considered manner when making decisions about how to go forward. After the Lunar New Year, the company initiated relevant crisis management measures, taking a planned, staged approach to promotion of publicity and putting anti-pandemic measures into effect.

To ensure the normal operations of the organization, Chailease is holding regular meetings on the pandemic situation, and watching its development globally while referring to the preventative policies of local government in setting health regulations, action steps and complete plans. We are regularly reviewing the pandemic measures instituted by our offices at home and abroad, and dynamically adjusting contingency measures in real time while adopting diversified work styles, including off-site and long-distance work. We are decentralizing our employees' work and work areas, diversifying operational risk, and deploying countermeasures in advance to avoid crises.

During the first phase, we are looking to the health of our employees and guaranteeing a safe workplace. We are promoting health education to fight the epidemic, taking daily temperature readings, and adding infrared thermal imaging equipment as well as providing masks, alcohol and other supplies. We have regulated business travel, and expanded our use of videoconferencing technology; At the same time, we are keeping our eye on the needs of our customers, and for customers whose operations are greatly affected, we are providing payment terms or flexible extensions.

Advance deployment, Emphasis on risk management

Risk management is a core competitiveness that allows Chailease to hold a leasing position in the industry. We are facing changes in the environment as a whole, thoroughly understanding the development of industry trends and pragmatically grasping the situation of SMEs today while dispersing customers and industries as well as geographical areas. These methods have effectively reduced the level of impact brought by such market changes.

Holding fast to the concept of comprehensive risk control, we periodically review to ensure that all potential risks can be effectively managed, and introduced relevant governance structures to respond to emerging risks. In 2019, following the Task Force on Climate-Related Financial Disclosures issued by the Financial Stability Board, Chailease signed on as a supporter, using its structure to determine the risks and opportunities that climate change may bring.

This focus includes risk items such as money laundering, financing of terrorism and information security. We have formulated policies and operating guidelines to prevent money laundering and the financing of terrorism and enhanced our internal control systems such as information security policies and management. We have also raised the organizational level of the Information Security Committee and held specific courses and customized trainings to make sure that all employees are aware and taking action.

Corporate governance, Pursuing sustainable management

The Corporate Governance and Sustainability Committee was upgraded to a functional committee under the Board of Directors in 2018, strengthening performance at all levels. Founded on the basic principles of our corporate philosophy of "value, growth, integrity, discipline", Chailease promotes sustainable and balanced development of economic, social and environmental ecologies and integrates five aspects into its corporate management and operations: "Corporate Governance: Implementation of Sustainable Management", "Customer Service: Value Innovation to Create a Win-Win Situation", "Employee Care: Lifelong Learning to Promote Growth", "Environmental Protection: Saving Energy, Reducing Carbon, Promoting Green Energy", and "Social Participation: Charitable Contributions to Give Back".

In terms of corporate governance, Chailease revised its "Measures for Performance Evaluation for the Board of Directors of Chailease" in 2019, and formulated the "Chailease Standard Operating Procedures for Handling of Director Requirements" to enhance the quality of board resolutions. A position for a dedicated director of corporate governance was established in 2018, to assist in deepening corporate governance and improving compliance with laws and regulations. In cooperation with international indicator manufacturers, Chailease built systems and platforms to prevent money laundering to comply with domestic and overseas law. Various positive actions have repeatedly earned the approval of the Taiwan Stock Exchange's "Corporate Governance Review", and Chailease was listed in the Top 5% of listed companies for corporate governance for the fifth time.

Digital transition, Enlarging the scope of service

Chailease is committed to promoting digitization and is using technology to deepen its operations and management. Improving the process of management and operations moving toward "digital optimization" improves the efficiency and quality of work. "Applications of Data Science" develop alternative credit reporting and enhance the collection and audit systems; "Digital Products and Platforms" open up innovative product platforms and connect a more complete line of corporate and consumer products to satisfy the needs of different customers.

SME owners and second-hand equipment vendors have been provided with various options, including the "Bizloan Digital Platform", the "5871 Chailease Equipment website", and the "Checkpass Accounts Receivable Finance Platform". The consumer-friendly "0card"in cooperation with major commercial platforms and shopping networks reduces the financial burden of shopping by providing installment payments. "ScooterLoan" meets the need for microloans by providing motor scooter owners with quick review via online services and the "Trucker Club platform" serves drivers by introducing products with preferential vehicle loans and gas prices. It also provides matchmaking services for truckers to pick up or drop loads along a route, tire sales and financing services, expanding the connections between truck drivers, car owners and SME owners.

Product innovation, Delivering green energy value

Innovative products including 2010's promotion of financing for energy-saving services, have passed from sharing green concepts like the 2012 extended green energy financing, energy management consulting services and solar energy financing business, to 2015's planned construction of a solar power plant, to the 2019 year-end record of 1700 power plants. According to TrendForce's EnergyTrend survey, Chailease has had the highest grid connection volume of any Taiwanese downstream system provider for two years running, since 2018. The company also ranks as the leader in photovoltaic system investment in Taiwan.

We combine a sharing economy, inviting the public to join in promotions of renewable energy, and we promoted the "Public Power Plant" platform in 2018, sharing the benefits of power generation with the people. We promoted the popularization of participation in renewable energy and by the end of 2019, we had launched 11 projects. To respond to the more flexible needs for financial planning by platform members, we added "Secondhand Transaction Announcements" to the online platform, providing a free bulletin board as a channel for exchange between buyers and sellers.

The company also promotes energy conservation and carbon reduction, and its Headquarters Building in Neihu has achieved three international standard certifications: the ISO 14001 Environmental Management System, ISO 50001 Energy Management System and ISO 14064-1 Greenhouse Gas Management System. At the same time, in 2019, the company achieved its goals of reducing average trash per capita by 10%, and lowering average electricity and water use per capita by 1%. In the future, as the company expands its domestic and overseas operations, it will enlarge the scope of its investigations and promote environmental awareness among all employees to help with major issues such as global warming.

Cultivating talent, Promoting the common good of society

Chailease's training system is very effective, and has been recognized three times with awards from the Association for Talent Development in the US. Following the 2013 "Career Review Double Cultivation Program" and 2015's "Departmental Self-Guided Training Program", the company was recognized once more in 2019 for its "Asia-Pacific MA Project". This project successfully cultivates reserve leaders with unique knowledge of corporate culture and international capability, and over the past seven years has been run in China, Thailand, Vietnam, Malaysia, Cambodia and the Philippines.

Cultivation of talent is crucial to the company's development, and Chailease's strategy in this regard focuses on improvements to ability and diverse professions, thereby extending the value of the corporate brand and promoting the cultural value of the common good. At the same time, employees are guided to rely on high efficiency rather than long hours, and various measures such as flextime, family travel days, flexible benefits and subsidies spur employees to seek a good work-life balance.

For a long time, we have given back to society from our business results. "Suitable career development" has been a mainstay since 2004, as the company established the Chailease Foundation to assist children and young people in exploring career options. In 2015, the company also set up the Chailease badminton team, and it built a dedicated training facility in 2018. This provides systematic, professional training comprehensively improving players' skills. In 2019, the team notched up many victories in Taiwan and abroad.

Chailease has published its "Corporate Social Responsibility Report" annually since 2013. We echo the United Nations Sustainable Development Goals (SDGs)and follow the principles of Environmental, Social and Corporate Governance (ESG). We understand the expectations of our stakeholders. Move ahead all the way, and never be satisfied with the status quo. Combine continuous improvement and pursuit of excellence within the industry, because we fully understand that when the company plays its role well, and does more and does it better, can we work together to build a brighter future.