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The Board Diversity Policy

Yang Ming has established “Corporate Governance Best Practice Principles” containing the board diversity policy. The board diversity policy and the implementation is disclosed in annual report and on Yang Ming’s official website.

● The Board Diversity Policy
   The board of Yang Ming should direct company strategies, supervise the management, and be responsible to Yang Ming and the shareholders. The
   various procedures and arrangements of Yang Ming’s corporate governance system shall ensure the board of directors complies with laws, regulations,
   Yang Ming’s articles of incorporation, and the resolutions of Yang Ming’s shareholders meetings while exercising their authority.

   The structure of Yang Ming's board of directors shall be determined by choosing an appropriate number of board members, between 7 to 11, in
   consideration of Yang Ming’s business scale, the shareholdings of Yang Ming’s major shareholders, and practical operational needs.

   The composition of the board of directors shall be determined by considering diversity. It is advisable that directors concurrently serving as company
   officers not exceed one-third of the total number of the board members, and that an appropriate policy on diversity based on Yang Ming's business
   operations, operating dynamics, and development needs be formulated and include, without being limited to, the following two general standards:
   1. Basic composition and values: gender, age, nationality and culture…etc.
   2. Professional knowledge and skills: professional background (such as law, accounting, industry, finance, marketing or technology), professional skills and
       industrial experience…etc.

   Board members should possess the knowledge, skills, and experiences necessary for performing their duties. To achieve the ideal goal of corporate
   governance, the board of directors shall possess the following abilities:
   1. Ability to make operational judgment
   2. Ability to perform accounting and financial analysis
   3. Ability to conduct management administration
   4. Ability to handle crisis management
   5. Knowledge of the industry
   6. An international market perspective
   7. Leadership
   8. Ability to make policy decisions
   9. Knowledge and abilities of risk management

● Specific Objectives and Implementation of the Board Diversity Policy
   Yang Ming’s board consists of 10 directors including 3 independent directors. All members possess extensive experiences and expertise in marine
   industry, world economy, finance, accounting, laws, and management fields. Yang Ming’s
   directors with employee status comprises 20%, and independent directors comprises 30%. The serve term of all 3 independent directors is less than 3
   years. The age of 1 director is more than 71 years old, 4 directors are 61-70 years old and 5 directors are less than 60 years old. The implementation of
   board diversity policy is as follows:
Director
Basic Composition Capabilities Professional Background
Gender Nationality Concurrent Positions in Yang Ming Age Tenure of Independent Director Management Leadership Industry Experience World Economy Accounting and Finance Marketing Legal Practice
Less Than 50 51-60 61-70 More Than 71
Cheng-Mount Cheng M R.O.C. V V V V V V
Kun-Ching Liao M R.O.C. V V
Ping-Jen Tseng M R.O.C. V V V V V V
Keh-Her Shih M R.O.C. V V V
Shao-Yuan Chang M R.O.C. V V V V
Chien-Yi Chang M R.O.C. V V V V
Wen-Ching Liu M R.O.C. V V V V V
Tar-Shing Tang M R.O.C. V Less than 3 years V V V
Tze-Chun Wang M R.O.C. V Less than 3 years V V V
Jei-Fuu Chen M R.O.C. V Less than 3 years V V V V V
All board members are male currently. To improve gender equality in the composition of board members, our goal is to increase the ratio of female directors to 15% and hope to add one female director each for the term of 21st and 22nd board of directors.