Reference is made to the announcement of China Minsheng Banking Corp., Ltd. (the "Company") dated 28 December 2021 in relation to the business cooperation framework agreement for agency sales of financial products entered into by the Company and Dajia Life Insurance. The Company hereby provided further information on the Business Cooperation Framework Agreement for Agency Sales of Financial Products as follows: Pricing Criterion of Business Cooperation Framework Agreement for Agency Sales of Financial Products. As for the pricing of Service Fees under the Business Cooperation Framework Agreement for Agency Sales of Financial Products, no government-specified price or government-guided price is applicable at current stage.

When entering into the Business Cooperation Framework Agreement for Agency Sales of Financial Products every year with Dajia Life Insurance, the Company determined the pricing range for specific transactions mainly referring to the quotations of products of the same type from other insurance companies that are independent of the Company and its connected persons in the year, the research on the interbank situation and taking the type of financial products consigned and the number of transactions between investors and the Company, feedbacks and opinions from the financial product issuer on the pricing into account. Specific pricing is determined after arm's length negotiation between both parties on the basis of the above considerations. The service fee charged by the Company to Dajia Life Insurance for the agency sales of financial products is no lower than that charged to independent third parties for similar services.