China Pacific Insurance : ADJUSTMENT ON THE COMPOSITION OF THE SPECIAL COMMITTEES OF THE 9TH BOARD OF DIRECTORS

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CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

(Stock Code: 02601)

ADJUSTMENT ON THE COMPOSITION OF

THE SPECIAL COMMITTEES

OF THE 9TH BOARD OF DIRECTORS

The board of directors (the "Board") of China Pacific Insurance (Group) Co., Ltd. (the "Company") is pleased to announce that at the 9th meeting of the 9th Board held on 26 March 2021, the Board agreed to change the name of the Strategic and Investment Decision-Making Committee to the Strategy and Investment Decision-making & ESG Committee and revise its working rules, and adjust the composition of the special committees of the 9th Board as follows:

Strategic and Investment Decision-Making & ESG Committee

Chairman: Other members:KONG Qingwei (Executive Director)

HUANG Dinan (Non-executive Director)

LIANG Hong (Non-executive Director)

LU Qiaoling (Non-executive Director)

LIU Xiaodan (Independent Non-executive Director)

Nomination and Remuneration Committee

Chairman: Other members:LIU Xiaodan (Independent Non-executive Director)

John Robert DACEY (Non-executive Director)

CHEN Jizhong (Independent Non-executive Director)

JIANG Xuping (Independent Non-executive Director)The appointment of John Robert DACEY will take effect upon the approval of his qualification as a director of the Company by the China Banking and Insurance Regulatory Commission.

Audit Committee

Chairman: Other members:LAM Tyng Yih, Elizabeth (Independent Non-executive Director)

WU Junhao (Non-executive Director)

ZHOU Donghui (Non-executive Director)

WOO Ka Biu, Jackson (Independent Non-executive Director)

JIANG Xuping (Independent Non-executive Director)

Risk Management and Related Party Transaction Control Committee

Chairman: Other members:CHEN Jizhong (Independent Non-executive Director)

FU Fan (Executive Director)

WANG Tayu (Non-executive Director)

LAM Tyng Yih, Elizabeth (Independent Non-executive Director)

WOO Ka Biu, Jackson (Independent Non-executive Director)

Technological Innovation and Consumer Rights Protection Committee

Chairman: Other members:JIANG Xuping (Independent Non-executive Director)

FU Fan (Executive Director)

WU Junhao (Non-executive Director)

CHEN Ran (Non-executive Director)

LIANG Hong (Non-executive Director)

By Order of the Board

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

Hong Kong, 29 March 2021

As at the date of this announcement, the Executive Directors of the Company are Mr. KONG Qingwei and Mr. FU Fan; the Non-executive Directors are Mr. HUANG Dinan, Mr. WANG Tayu, Mr. WU Junhao, Mr. CHEN Ran, Mr. ZHOU Donghui, Ms. LIANG Hong, Ms. LU Qiaoling and Mr. John Robert DACEY; and the Independent Non-executive Directors are Ms. LIU Xiaodan, Mr. CHEN Jizhong, Ms. LAM Tyng Yih, Elizabeth, Mr. WOO Ka Biu, Jackson, and Mr. JIANG Xuping.

* Note: The appointment qualification of Mr. John Robert DACEY is subject to approval by China

Banking and Insurance Regulatory Commission.