China Minsheng Banking : ANNOUNCEMENT ON SUCCESSFUL ISSUANCE OF WRITE-DOWN UNDATED CAPITAL BONDS OF RMB30 BILLION

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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 ON SUCCESSFUL ISSUANCE OF

WRITE-DOWN UNDATED CAPITAL BONDS OF RMB30 BILLION

Upon the approval by China Banking and Insurance Regulatory Commission and the People's Bank of China, recently, China Minsheng Banking Corp., Ltd. (the "Company") successfully issued the "2021 First Tranche Undated Capital Bonds of China Minsheng Banking Corp., Ltd." (the "Bonds") in the national inter-bank bond market and completed the registration and entrustment of the Bonds with China Central Depository & Clearing Co., Ltd.

The Bonds were book built and recorded on 19 April 2021 and the issuance was completed on 21 April 2021. The Bonds with an aggregate amount of RMB30 billion have a coupon rate of 4.30% for the first five years, which is subject to adjustment every five years. The issuer is entitled to redeem the Bonds on the interest payment date of the fifth year and each year thereafter.

The proceeds from the issuance of the Bonds will be used to replenish the additional tier-one capital of the Company in accordance with applicable laws and the approval of the regulatory authority.

By Order of the Board

CHINA MINSHENG BANKING CORP., LTD.

Gao Yingxin

Chairman

Beijing, PRC

22 April 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 and Mr. Yang Xiaoling; 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.