BOSTON, July 14, 2023 /PRNewswire/ -- The Taiwan Fund, Inc. (the "Fund") (NYSE:TWN) announced today details regarding its investment performance for the three month period ended May 31, 2023.

The Fund reported a net asset value per share of $35.74 as of the close of business on May 31, 2023. This represents an increase of $3.42 per share from the net asset value per share of $32.32 reported on Feb 28, 2023. The Fund's share price, as traded on the New York Stock Exchange on May 31, 2023, was $28.67, representing a discount to net asset value of 19.78%. This represents an increase of $1.96 per share from the share price of $26.71 on February 28, 2023, which represented a discount to net asset value of 17.36%. The Fund had a total return of 10.58% for the three months ended May 31, 2023 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 6.40% (in US$ terms).

For the nine month period ended May 31, 2023, the Fund's net asset value per share increased $5.78 per share from the net asset value per share of $29.96 reported on August 31, 2022. For the nine month period ended May 31, 2023, the share price, as traded on the NYSE, increased $3.47 per share from the share price of $25.20 reported on August 31, 2022. The Fund had a total return of 19.29% for the nine month period ended May 31, 2023 based on the change in its net asset value. For the same period the TAIEX Total Return Index returned 17.70% (in US$ terms).

For the three month period ended May 31, 2023, the Fund had net realized gains of $1,210,255 on investments and foreign currency transactions and an increase in net unrealized appreciation of $24,413,350 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 $781,065.

	Quarter Ended	Nine Months Ended	Quarter Ended	Nine Months Ended
	May 31,	May 31,	May 31,	May 31,
	2023	2023	2022	2022

Total Net Assets	$266,972,230	$266,972,230	$262,803,553	$262,803,553

Gross Investment Income	$781,065	$1,648,946	$513,698	$1,634,027
Per Share	$0.10	$0.22	$0.07	$0.22

Net Investment Income (Loss)	$(65,714)	$(730,041)	$307,749	$(430,324)
Per Share	$(0.01)	$(0.10)	$0.04	$(0.06)

Net Realized Gain (Loss) on Investments
and Foreign Currency Transactions	$1,210,255	$(3,465,932)	$(16,177,574)	$(3,569,938)

Change in Net Unrealized
Appreciation (Depreciation) on Investments	$24,413,350	$47,352,607	$(22,848,882)	$(31,319,627)
and Foreign Currency Translations

Total Realized and Unrealized
Gain (Loss) on Investments	$25,623,605	$42,886,675	$(39,026,455)	$(34,889,564)
Per Share	$3.43	$5.87	$(5.22)	$(4.67)

Net Increase (Decrease) in Net
Assets Resulting from Operations	$25,557,891	$43,156,634	$(38,718,707)	$(35,319,888)
Per Share	$3.42	$5.78	$(5.18)	$(4.73)

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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.

CONTACT:

Brian F. Link, Secretary

1-800-426-5523

www.thetaiwanfund.com

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SOURCE The Taiwan Fund, Inc.

The Taiwan Fund, Inc. Announces 3rd Quarter Earnings