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Investor Presentaiton

Cargo Market Outlook -Taoyuan Airport Cargo Demand Stabilizing Q1-Q3 cargo volume experienced a 19.31% decrease compared to 2022, but nearly reached the 2019 level. The proportion of Taoyuan Airport's transshipment cargo continues to rise year by year. The destocking phase nears its end, expecting the demands will be gradually stable in upcoming 2023 Q4 and 2024. Taoyuan Airport Monthly Cargo Vol. 2019 2023/9 Taoyuan Airport Import/Export/Transshipment vol. 2018-2023 (Q1-Q3) 10K ton 26 Mail Transshipment Export Import Total 24 22 2019 Sep, 18.5 20 18 16 my 2023 Q1-Q3 -19.31% V.S 22 207.83 10K ton 194.65 200 171.81 2023 Sep, 18.2 165.82 158.18 157.06 160 100.7 (48.5%) 120 81.5 (47.4%) 71.7 81.7 95.8 (49.2%) 79.7 (45.3%) (49.3%) (50.8%) 14 -0.71% V.S 19 80 55.5 48.9 12 43.1 39.7 40.9 37.0 10 40 1 4 7 10 1 4 7 10 1 4 7 10 1 4 7 10 1 4 7 46.0 45.5 41.8 50.2 48.8 39.4 0 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 CHINA AIRLINES Source: Taoyuan International Airport 23
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