1.Date of occurrence of the event:2022/03/10

2.Company name:KWONG LUNG ENTERPRISE CO.,LTD.

3.Relationship to the Company (please enter ”head office” or ”subsidiaries”):head office

4.Reciprocal shareholding ratios:NA

5.Cause of occurrence:The Board of Directors approved to amend ”Class A preferred shares issuance and conversion”,as follows:

after the Revision

5.Rights and Obligations of Preferred Share:

(1)Dividend

The annual interest rate of preferred share is 5% (the five-year IRS interest rate of the pricing date (November 20th, 2018) is 0.9050%+ the fixed mark-up interest rate [4.0950%]). Based on the issue price per share, the fixed mark-up interest rate will be adjusted to [1.0950%] from the next business day after seven years from the issue date. The five-year IRS interest rate will be reset on the next business day five years after the issue date and every five years thereafter. The pricing date for interest rate reset is two Taipei financial business days before the interest rate reset date, and the five-year IRS is the arithmetic average of the interest rate indicator which is priced at 11: 00 a.m. on Taipei financial business day based on the five-year interest rate exchange quotation of Reuters “TAIFXIRS” and “COSMOS3”. If the above quotation cannot be obtained on the interest rate reset date, it shall be decided by the Company in accordance with the principle of good faith and reasonable market conditions.

(2)Dividend Release

If there is a surplus in this year's final accounts of the Company, in addition to paying taxes according to law, the company should first make up for the losses of previous years and set aside statutory surplus reserves according to law, and then set aside or turn around special surplus reserves according to the articles of association.If there is a surplus, the dividends distributed by preferred shares in the current year can be distributed preferentially. The Company has the discretion to distribute the dividend of preferred shares. If the dividend of preferred shares is distributed due to no surplus or insufficient surplus in the company's annual final accounts, the company shall decide not to distribute the dividend of preferred shares, and the preferred shareholders shall not object to it. This preferred share is non-accumulative, and its undistributed or insufficient dividends will not be accumulated for deferred payment in future surplus years. Dividends of preferred shares are paid once a year in cash. The board of directors will set a benchmark date to pay the dividends paid in the previous year. The number of dividends issued in the year of issuance and annual recovery is calculated according to the actual number of days of issuance in the current year, and the distributed dividends will be recognized in the dividend voucher.

(omitted)

(6)Voting Right and Election Right

Shareholders of preferred shares have no right to vote or elect, but they can be elected as directors, and have the right to vote at preferred shareholders' meetings or shareholders' meetings involving the rights and obligations of preferred shareholders.

6.Countermeasures: It will be submitted to the Preferred shareholders' meeting on 2022/5/31

7.Any other matters that need to be specified:None