Independent Directors Election | INVESTORS | ADDA CORPORATION

1. In accordance with the Company Act and Securities and Exchange Act, our Articles of Incorporation stipulate that the board of directors shall consist of 7 to 9 members, with at least three independent directors, accounting for no less than one-fifth of the total board seats. The election of directors follows the nomination system outlined in Article 192-1 of the Company Act, with candidates elected from a list of nominees at the shareholders' meeting. Directors serve a three-year term and may be re-elected consecutively. Independent directors and non-independent directors are elected simultaneously, with their seats calculated separately.

2. On March 16, 2023, the Board of Directors resolved to accept nominations for directors (including independent directors) as follows: 
▐ In compliance with Article 192-1 of the Company Act, shareholders holding more than 1% of the company’s total issued shares, as well as the board of directors, may submit a list of independent director nominees. The board will review nominees to ensure they meet the qualifications for independent directors, after which the list will be presented at the shareholders' meeting for election.  
▐ The nomination period for independent directors is from April 7, 2023, to April 17, 2023. Shareholders intending to nominate candidates must submit the nomination letter to the company (Finance Department, 35th Floor, No. 38, Xinguang Road, Lingya District, Kaohsiung City)  by 5:00 PM on April 17, 2023.  

The letter should include the nominee’s details, a designated contact person, and contact information for the review process. For postal submissions, please mark “Director (including Independent Director) Nomination Letter” on the envelope and send it via registered mail.

3. The independent director nominees for this term were submitted by the Board of Directors and evaluated on May 9, 2023, to ensure compliance with the qualifications for independent directors and Article 192-1 of the Company Act. The final list was submitted for election at the shareholders' meeting.

4. At the shareholders' meeting held on June 20, 2023, the following independent directors were elected: LAI, MING-YANG, HSU, HSIANG-CHEN, andSHEN, TSUNG-CHI.