Postal Savings Bank of China : ANNOUNCEMENT ON CHANGES IN EXTERNAL SUPERVISORS

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POSTAL SAVINGS BANK OF CHINA CO., LTD.

中 國 郵 政 儲 蓄 銀 行 股 份 有 限 公 司

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 1658)

(Stock Code of Preference Shares: 4612)

ANNOUNCEMENT ON

CHANGES IN EXTERNAL SUPERVISORS

References are made to the announcements of Postal Savings Bank of China Co., Ltd. (the "Bank") dated August 20, 2019 and October 29, 2019, and the circular dated September 12, 2019 (the "Circular") in relation to the election of Supervisors of the Bank and related matters.

Upon the expiration of his term of office, Mr. Guo Tianyong, External Supervisor of the Bank, ceased to serve as External Supervisor, Chairman and member of the Duty Performance Supervision Committee of the Board of Supervisors of the Bank, effective from December 8, 2019. Mr. Guo Tianyong has confirmed that he has no disagreement with the Board of Supervisors of the Bank, and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders and creditors of the Bank.

Mr. Chen Shimin was elected as External Supervisor of the Bank at the 2019 Second Extraordinary General Meeting held by the Bank on October 29, 2019. The term of office of Mr. Chen Shimin as Supervisor shall be three years, commencing from December 8, 2019. Please refer to the Circular for the biography of Mr. Chen Shimin.

The Board of Supervisors of the Bank would like to express its sincere gratitude to Mr. Guo Tianyong for his contributions to the Bank during his tenure and would like to welcome Mr. Chen Shimin on board.

By order of the Board of Directors

Postal Savings Bank of China Co., Ltd.

Du Chunye

Joint Company Secretary

Beijing, the PRC

December 8, 2019

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As at the date of this announcement, the Board of Directors of the Bank comprises Mr. Zhang Jinliang as Chairman and Non- executive Director; Mr. Zhang Xuewen and Ms. Yao Hong as Executive Directors; Mr. Han Wenbo, Mr. Tang Jian, Mr. Liu Yaogong, Mr. Liu Yue and Mr. Ding Xiangming as Non-executive Directors; Mr. Ma Weihua, Ms. Bi Zhonghua, Mr. Fu Tingmei, Mr. Wen Tiejun, Mr. Chung Shui Ming Timpson, and Mr. Hu Xiang as Independent Non-executive Directors.

• Postal Savings Bank of China Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong.

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