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    This Risk Disclosure Statement is established in accordance with Article 4 of the Taiwan Stock Exchange Corporation Rules Governing the Trading of Securities with Warrants.
    You are advised to fully understand the following prior to engaging in business involving securities with warrants:

1. Securities with warrants are a combination of securities and warrants where warrants represent the right to subscribe for the underlying securities. In view of the interaction between the value of warrants and the price of their underlying securities, investors are advised to be aware of the impact of the price of underlying securities on the price of securities with warrants.
For securities with detachable warrants, their stock warrants and securities are separately listed and traded and their respective rights may be exercised independently.

2. Prior to listing, the issue price of the securities with warrants, conditions on exercise of the warrants and the relevant matters are established by the issuer. After the securities with warrants are listed and traded and freely transferred at the centralized exchange market, their prices are determined according to supply and demand of the market.
3. Prior to purchase of securities with warrants, investors are advised to understand the financial and credit position of the issuer in connection with its ability to perform the contract. The Taiwan Stock Exchange Corporation does not guarantee the issuer's liability for contract performance.
4. Under general circumstances, investors will be deemed to have waived their right to exercise the right in securities with warrants if they fail to request to so exercise by the expiry of the period when the rights may be exercised.
5. In the event of mandatory delisting of securities with warrants due to the issuer's violation of the listing contract, the circumstances warranting delisting as provided in the listing rules, or delisting of the underlying securities, holders of unexpired stock warrants may still claim to exercise their subscription rights according to the terms and conditions of issuance to the issuer.

    The risk disclosure statement is not inclusive and is not a comprehensive list of all risks of securities with warrants and factors that may affect market performance. Before making an investment, the investor should not only carefully review this risk disclosure statement but also be alerted to other factors that may cause an impact, and make well-thought financial plans and thorough risk assessments to avoid insufferable losses from hasty or ill-judged decisions on investment.

    I (the principal) hereby undertake that I shall be solely responsible for the investment risks, that I have carefully reviewed this risk disclosure statement and been provided with explanations by the representative named ____ sent by ________ Securities Co., Ltd., before trading in said securities, and that I fully understand the risks in the above securities with warrants.

    To: ________ Securities Co., Ltd.
    Signature of the representative of the securities firm who provides the explanations: ________________
    Signature of the principal (undersigned): ______________ Date: ______________
    National ID no.: ________________________ TEL: ______________
    Unified business code: __________________ FAX: ____________
    Representative: ______________
    Address: ______________

    (This risk disclosure statement is executed in duplicate, with one copy to be retained by the securities firm for filing purpose and the other by the investor for reference.)