The Board of Directors of The Taiwan Fund, Inc. has declared capital gain and net investment income distributions in the estimated aggregate amount of $3.3122 per share. The capital gain portion of the distributions is comprised of long-term capital gains estimated at $0.6156 per share and short-term capital gains estimated at $2.3207 per share. The net investment income portion of the distributions is estimated to be $0.3759 per share. The distribution will be payable on January 8, 2021 to stockholders of record on December 29, 2020 with an ex-dividend date of December 28, 2020.