China Minsheng Banking : ELECTION OF CHAIRMAN AND VICE CHAIRMEN OF THE BOARD; APPOINTMENTS OF MEMBERS OF THE SP…

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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)

ELECTION OF CHAIRMAN AND

VICE CHAIRMEN OF THE BOARD

APPOINTMENTS OF MEMBERS

OF THE SPECIAL COMMITTEES OF THE BOARD

NOMINATION OF EXECUTIVE DIRECTOR

AND

APPOINTMENT OF PRESIDENT

ELECTION OF CHAIRMAN AND VICE CHAIRMEN OF THE BOARD

The board of directors (the "Board") of China Minsheng Banking Corp., Ltd. (the "Company") is pleased to announce that Mr. Gao Yingxin, an executive director of the eighth session of the Board, was elected as the Chairman of the eighth session of the Board by the Board, and Mr. Zhang Hongwei, Mr. Lu Zhiqiang and Mr. Liu Yonghao, the non-executive directors, and Mr. Zheng Wanchun, the executive director of the eighth session of the Board, were elected as the Vice Chairmen of the eighth session of the Board by the Board, with effect from the current date.

For the biographies and other relevant information of Mr. Gao Yingxin, Mr. Zhang Hongwei, Mr. Lu Zhiqiang, Mr. Liu Yonghao and Mr. Zheng Wanchun, please refer to the poll results announcement of the Company dated 16 October 2020. As at the date of this announcement, there has been no change in such information.

1

APPOINTMENTS OF MEMBERS OF THE SPECIAL COMMITTEES OF THE BOARD

The Board is pleased to announce that members of the special committees of the eighth session of the Board are as follows:

Strategic Development and Consumer Rights Protection Committee

Chairman: Gao Yingxin

Members: Zhang Hongwei, Lu Zhiqiang, Liu Yonghao, Zheng Wanchun, Shi Yuzhu, Weng Zhenjie, Zhao Peng

Nomination Committee

Chairman: Peng Xuefeng

Members: Gao Yingxin, Zhang Hongwei, Lu Zhiqiang, Liu Yonghao, Shi Yuzhu, Liu Jipeng, Li Hancheng, Xie Zhichun, Liu Ningyu, Qu Xinjiu

Compensation and Remuneration Committee

Chairman: Liu Jipeng

Members: Gao Yingxin, Wu Di, Weng Zhenjie, Yang Xiaoling, Li Hancheng, Xie Zhichun, Peng Xuefeng, Liu Ningyu

Audit Committee

Chairman: Liu Ningyu

Members: Song Chunfeng, Weng Zhenjie, Peng Xuefeng, Qu Xinjiu

Related Party Transactions Supervision Committee

Chairman: Li Hancheng

Members: Wu Di, Song Chunfeng, Liu Jipeng, Liu Ningyu, Qu Xinjiu

Risk Management Committee

Chairman: Xie Zhichun

Members: Zheng Wanchun, Wu Di, Song Chunfeng, Zhao Peng, Li Hancheng

The appointments of Weng Zhenjie, Yang Xiaoling, Zhao Peng and Qu Xinjiu are subject to the approval on their qualifications by the China Banking and Insurance Regulatory Commission. The Board notices that the composition of the Nomination Committee will not comply with the code A.5.1 under Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Hong Kong Listing Rules") which requires that the majority of the Nomination Committee shall be independent non-executive directors. The Company will procure the directors concerned to seek approval of the qualification by the China Banking and Insurance Regulatory Commission as soon as possible so as to comply with the Hong Kong Listing Rules.

2

NOMINATION OF EXECUTIVE DIRECTOR

The Board is pleased to announce the nomination of Mr. Yuan Guijun as a candidate for executive director ("Proposed Executive Director") of the eighth session of the Board of the Company.

The biographical details of Mr. Yuan Guijun as required to be disclosed by Rule 13.51(2) of the Hong Kong Listing Rules are as follows:

Mr. Yuan Guijun, born in 1963, joined the Company in September 2020 as a member of the party committee. Before joining the Company, Mr. Yuan was the president and the secretary of the party committee of the Beijing branch of China Construction Bank from 2017 to 2020; the president and the secretary of the party committee of the Liaoning branch of China Construction Bank from 2013 to 2017; the deputy general manager and general manager of corporate banking department of China Construction Bank from 2007 to 2013; the assistant of general manager and deputy general manager of the risk management department of China Construction Bank from 2004 to 2007; a staff of the investment department, credit management department, credit risk management department and the credit risk management office of the risk management department of China Construction Bank from 1986 to 2004. Mr. Yuan obtained his master's degree in business management for senior management from Tsinghua University. He is a senior economist.

Subject to adjustments pursuant to the applicable laws and regulations, the term of office of the Proposed Executive Director shall be the same as that of the current session of the Board. Remuneration of the Proposed Executive Director shall be determined in accordance with the Remuneration Policy of Directors and Supervisors of China Minsheng Banking Corp., Ltd.

Save as disclosed in this announcement, the Proposed Executive Director does not have any other relationship with any of the directors, supervisors, senior management, substantial shareholder or controlling shareholder of the Company, and does 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 in this announcement, there is no other information in relation to the Proposed Executive Director which is subject to disclosure pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Hong Kong Listing Rules, and the Proposed Executive Director is not involved and has 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. Save as disclosed in this announcement, the Proposed Executive Director did not hold any directorship 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.

The proposal for the appointment of executive director of the Board of the Company will be submitted to shareholders' general meeting for approval. Upon approval by the shareholders' general meeting, the directorship qualification of Mr. Yuan Guijun will be subject to approval by China Banking and Insurance Regulatory Commission and his appointment will be effective from the date of approval by China Banking and Insurance Regulatory Commission.

3

APPOINTMENT OF PRESIDENT

The Board is pleased to announce that Mr. Zheng Wanchun, an executive director of the eighth session of the Board of the Company, was appointed as the President of the Company with effect from the current date. The term of office of Mr. Zheng Wanchun is consistent with the service term of the eighth session of the Board.

For the biography and other relevant information of Mr. Zheng Wanchun, please refer to the poll results announcement of the Company dated 16 October 2020. As at the date of this announcement, there has been no change in such information.

By Order of the Board

CHINA MINSHENG BANKING CORP., LTD.

Gao Yingxin

Chairman

Beijing, PRC

16 October 2020

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

4