[Chunghwa Telecom Co., Ltd. Financial Statements for the Years Ended December 31, 2012 and 2011 and Independent Auditors’ Report INDEPENDENT AUDITORS’ REPORT The Board of Directors and Stockholders Chunghwa Telecom Co., Ltd. We have audited the accompanying balance sheets of Chunghwa Telecom Co., Ltd. as of December 31, 2012 and 2011, and the related statements of income, changes in stockholders’] [Chunghwa Telecom Co., Ltd. and Subsidiaries Consolidated Financial Statements for the Years Ended December 31, 2012 and 2011 and Independent Auditors’ Report - 1 - INDEPENDENT AUDITORS’ REPORT To the Board of Directors and Stockholders of Chunghwa Telecom Co., Ltd. We have audited the accompanying consolidated balance sheet of Chunghwa Telecom Co., Ltd. and subsidiaries (“the Company”) as of December] [Chunghwa Telecom Co., Ltd. Shu Yeh Senior Executive Vice President CFO 2 Description 1]