The Taiwan Fund, Inc.

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The Taiwan Fund, Inc. Announces Selection of New Investment Adviser, Reduction in Fund Expenses and Enhancements to its Discount Management Program

CONTACT:
Brian F. Link, Secretary
877-217-9502
www.thetaiwanfund.com

New York, New York, December 10, 2018—The Board of Directors of The Taiwan Fund, Inc. (NYSE: TWN) (the “Fund”) has declared a long term capital gain distribution of $1.7078 per share. The distribution will be payable on January 4, 2019 to stockholders of record on December 21, 2018 with an ex-dividend date of December 20, 2018.

The Fund has a Dividend Reinvestment and Cash Purchase Plan (the “Plan”) that is open to all stockholders. If the Fund’s shares trade at a premium to the net asset value of the Fund, Plan participants will receive shares of the Fund valued at the greater of the net asset value or 95% of the market price. If the Fund is trading at a discount, Plan participants will receive shares of the Fund valued at market price per share. All stockholders may elect to participate in the Plan or may withdraw at any time within the limitations described in the Plan.

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 1-877-217-9502.

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