NEW YORK, July 18, 2022 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE:TWN) announced today details regarding its investment performance for the three month period ended May 31, 2022.

The Fund reported a net asset value per share of $35.18 as of the close of business on May 31, 2022. This represents a decrease of $5.18 per share from the net asset value per share of $40.36 reported on Feb 28, 2022. The Fund's share price, as traded on the New York Stock Exchange on May 31, 2022, was $28.34, representing a discount to net asset value of 19.44%. This represents a decrease of $5.49 per share from the share price of $33.83 on February 28, 2022, which represented a discount to net asset value of 16.18%. The Fund had a total return of -12.83% for the three months ended May 31, 2022 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned -7.79% (in US$ terms).

For the nine month period ended May 31, 2022, the Fund's net asset value per share decreased $7.65 per share from the net asset value per share of $42.83 reported on August 31, 2021. For the nine month period ended May 31, 2022, the share price, as traded on the NYSE, decreased $7.49 per share from the share price of $35.83 reported on August 31, 2021. The Fund had a total return of -11.23% for the nine month period ended May 31, 2022 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned -7.65% (in US$ terms).

For the three month period ended May 31, 2022, the Fund had net realized loss of $16,177,574 on investments and foreign currency transactions and an decrease in net unrealized appreciation of $22,848,882 on investments and foreign currency transactions. The Fund's net investment income (consisting of dividend and interest income less operating expenses) for the same period was $307,749.

	Quarter Ended	Nine Months Ended	Quarter Ended	Nine Months Ended
	May 31,	May 31,	May 31,	May 31,
	2022	2022	2021	2021

Total Net Assets	$262,803,553	$262,803,553	$276,327,832	$276,327,832

Gross Investment Income	$513,698	$1,634,027	$361,700	$1,310,785
Per Share	$0.07	$0.22	$0.05	$0.18

Net Investment Income (Loss)	$307,749	$(430,324)	$(620,273)	$(804,802)
Per Share	$0.04	$(0.06)	$(0.08)	$(0.11)

Net Realized Gain (Loss) on Investments
and Foreign Currency Transactions	$(16,177,574)	$(3,569,938)	$16,522,829	$43,694,624

Change in Net Unrealized
Appreciation (Depreciation) on Investments	$(22,848,882)	$(31,319,627)	$13,090,266	$43,152,613
and Foreign Currency Translations

Total Realized and Unrealized
Gain (Loss) on Investments	$(39,026,455)	$(34,889,564)	$29,613,094	$86,847,237
Per Share	$(5.22)	$(4.67)	$3.96	$11.63

Net Increase (Decrease) in Net
Assets Resulting from Operations	$(38,718,707)	$(35,319,888)	$28,992,882	$86,042,435
Per Share	$(5.18)	$(4.73)	$3.88	$11.52

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The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "TWN."

For additional information on the Fund, including information on the Fund's holdings, visit the Fund's website at www.thetaiwanfund.com or call 1-800-426-5523.

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SOURCE The Taiwan Fund, Inc.

The Taiwan Fund, Inc. Announces 3rd Quarter Earnings