China Minsheng Banking : ANNOUNCEMENT BY-ELECTION OF EMPLOYEE SUPERVISORS

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中 國 民 生 銀 行 股 份 有 限 公 司

CHINA MINSHENG BANKING CORP., LTD.

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

(Stock Code: 01988)

(USD Preference Shares Stock Code: 04609)

ANNOUNCEMENT

BY-ELECTION OF EMPLOYEE SUPERVISORS

On 25 November 2021, Mr. Guo Dong ceased to be the vice chairman of the supervisory board (the "Supervisory Board") of the China Minsheng Banking Corp., Ltd. (the "Company"), an employee supervisor and a member of the Supervisory Committee under the Supervisory Board of the Company due to reaching retirement age. Mr. Li Jian has resigned as an employee supervisor and a member of the Supervisory Committee under the Supervisory Board of the Company due to work redesignation. On even date, Mr. Yang Yu and Mr. Gong Zhijian have been by-elected as employee supervisors of the Company by the employee representative meeting of the Company. The Supervisory Board hereby confirms that: the appointments of Mr. Yang Yu and Mr. Gong Zhijian as the employee supervisors of the Company have taken effect from 25 November 2021, and the term of office shall be the same as that of the eighth session of the Supervisory Board.

Biographical details of Mr. Yang Yu (楊毓) and Mr. Gong Zhijian (龔志堅) are as follows:

Mr. Yang Yu, born in 1964, is currently the President of Beijing Branch of the Company. Mr. Yang Yu joined the Company in 1996 and successively served as a Division Director of Credit Management Division, a Deputy General Manager then Deputy General Manager (in charge) of Credit Management Department of the Head Office, a Deputy General Manager of Beijing Administration Department, a President of the Real Estate Finance SBU and a General Manager of Investment Banking Department of the Company. From July 1989 to 1996, Mr. Yang Yu also successively served as a lecturer of the Beijing Institute of Fashion Technology and a manager of the business department of Huayin International Merchants Company of Industrial and Commercial Bank of China, and from February 2012 to September 2016, he served as the president of Bairong Investment Holding Group Co., Ltd. (百榮投資控股集團有限公司). Mr. Yang Yu obtained a Master's Degree in Economics, majoring in Business Management of Industrial Economics Department from Renmin University of China.

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Mr. Gong Zhijian, born in 1967, is currently the General Manager of Human Resources Department of the Head Office of the Company. Mr. Gong Zhijian joined the Company in February 2001 and successively served as a General Manager of Human Resources Department of Shenzhen Branch, a Division Director of Human Resources Management Division, a Division Director of Remuneration and Compensation Management Division, a General Manager Assistant then a Deputy General Manager of Human Resources Department, a Deputy General Manager (in charge) then a General Manager of Development Planning Department of the Head Office, and the President of Chengdu Branch. Prior to joining the Company, Mr. Gong Zhijian successively served as a teaching assistant of the lecturers group and an officer of the corporate communications department of the publicity department of Yiyang Municipal Committee of the CPC of Hunan Province, a deputy section chief of the social development planning section of Yiyang Municipal Commission of Planning of Hunan Province and a general manager of the personnel and education department of Zhuhai City Commercial Bank of Guangdong Province from July 1991 to February 2001. Mr. Gong Zhijian obtained a Ph.D. Degree in Business Administration from Wuhan University.

Remuneration of Mr. Yang Yu and Mr. Gong Zhijian for acting as employee supervisors of the Company shall be determined in accordance with the Rules for Remuneration of Directors and Supervisors of China Minsheng Banking Corp., Ltd. and include remuneration of supervisors of RMB40,000 per month (before tax) and allowances for special committees and reimbursement for attending meetings, etc. determined based on the actual situation. On top of these, Mr. Yang Yu and Mr. Gong Zhijian are also entitled to corresponding remunerations for their positions in the Company, which mainly include salaries, bonuses and the company's contributions to social insurance, housing fund and corporate annuity.

Save as disclosed in this announcement, Mr. Yang Yu and Mr. Gong Zhijian do not have any relationship with the directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company, and do not have any interests in the shares of the Company as defined in Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Save as disclosed above, there is no other information in relation to Mr. Yang Yu and Mr. Gong Zhijian which is subject to disclosure pursuant to rule 13.51(2)(h) to rule 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules"), and they are not involved and have not been involved in any activity subject to disclosure pursuant to rule 13.51(2)(h) to rule 13.51(2)(v) of the Hong Kong Listing Rules.

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Save as disclosed in this announcement, Mr. Yang Yu and Mr. Gong Zhijian did not act as directors in any other listed companies in the last three years, and did not hold other positions in the Company or its subsidiaries. There is no other matter that shall be brought to the attention of the shareholders of the Company.

By Order of the Board

CHINA MINSHENG BANKING CORP., LTD.

Gao Yingxin

Chairman

Beijing, PRC

26 November 2021

As at the date of this announcement, the executive directors of the Company are Mr. Gao Yingxin, Mr. Zheng Wanchun and Mr. Yuan Guijun; the non-executive directors are Mr. Zhang Hongwei, Mr. Lu Zhiqiang, Mr. Liu Yonghao, Mr. Shi Yuzhu, Mr. Wu Di, Mr. Song Chunfeng, Mr. Yang Xiaoling and Mr. Zhao Peng; and the independent non-executive directors are Mr. Liu Jipeng, Mr. Li Hancheng, Mr. Xie Zhichun, Mr. Peng Xuefeng, Mr. Liu Ningyu and Mr. Qu Xinjiu.

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