2019 Investor Conference

World Economic Outlook . • The Chung-Hwa Institution for Economic Research (CIER) forecasts global economic growth of 2.77% in 2019, compared to 3.19% in 2018, marking the second consecutive year of decline. Amid a global slowdown in economic growth, the major economies- America, Eurozone, China and Japan- will experience a deceleration of growth in 2020. Major Economies 2019-2020 Economic Growth Rate Canada 1.41% 1.76% U.S. 2.59% 1.82% Brazil 0.59% 1.49% 1.69% 1.91% Russia 1.41% 2.05% South Korea Japan 0.75% 0.36% 1.08% 0.79% U.K. Eurozone 1.04% 1.03% 6.23% 5.93% China India Taiwan 1.93% 2.00% ASEAN 6.57% 6.76% Indonesia 4.94% 5.02% Malaysia 4.40% 4.41% Philippine 5.98% 6.03% Thailand 3.38% 3.29% Singapore 1.38% 1.88% South Africa Australia Brunei Cambodia 4.30% 4.20% 0.68% 1.59% 2.08% 2.53% Laos Myanmar Vietnam 6.90%-6.62% 6.50% 6.50% 6.57% 6.45% 6.70%-6.90% CHINA AIRLINES Source: CIER 12

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