China Pacific Insurance : CHANGE OF JOINT COMPANY SECRETARY

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中國太平洋保險（集團）股份有限公司

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

(Stock Code: 02601)

CHANGE OF JOINT COMPANY SECRETARY

The board of directors (the "Board") of China Pacific Insurance (Group) Co., Ltd. (the "Company") hereby announces that Mr. MA Xin ("Mr. MA") has resigned as a joint company secretary of the Company with effect from 28 April 2021 due to other work arrangement and commitments. Mr. MA confirmed that there is no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board would like to take this opportunity to express its gratitude to Mr. MA for his contribution to the Company during his tenure.

The Board further announces that Mr. SU Shaojun ("Mr. SU") has been appointed as a joint company secretary of the Company and Mr. NGAI Wai Fung ("Mr. NGAI") has been re-appointed as a joint company secretary of the Company with effect from 28 April 2021 and the term of office of which are both three years.

The biographical details of Mr. SU and Mr. NGAI are set out below:

Mr. SU Shaojun, born in February 1968, currently serves as board secretary and deputy director on transformation matters of the Company, director of CPIC Capital Company Limited. Previously, he served as assistant general manager and deputy general manager of Underwriting Department, deputy general manager and general manager of Beijing branch, general manager of Development Planning Department, head of the Board office, head of the Board of Supervisors' Office, general manager of Telemarketing Department of China Pacific Property Insurance Co., Ltd. ("CPIC P/C"), head of Strategic Research Department of the Company, etc. Mr. SU holds a doctor's degree and a title of senior engineer.

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Mr. NGAI Wai Fung, born in January 1962, currently serves as the director and chief executive officer of SWCS Corporate Services Group (Hong Kong) Limited. Mr. NGAI is a fellow member of the Hong Kong Institute of Chartered Secretaries, a fellow member of the Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries and Administrators), a member of the Hong Kong Institute of Certified Public Accountants, a fellow member of the Association of Chartered Certified Accountants in the United Kingdom and a member of the Chartered Institution of Arbitrators. Mr. NGAI was appointed as the president of the Hong Kong Institute of Chartered Secretaries from 2014 to 2015, an unofficial member of the Working Group on Professional Services under the Economic Development Commission of Hong Kong Special Administrative Region and a member of the Qualifications and Examinations Assessment Board of the Hong Kong Institute of Certified Public Accountants from 2013 to 2018, a member of the General Committee and the Chairman of Membership Services of Sub-Committees of the Chamber of Hong Kong Listed Companies in June 2014 and September 2020, respectively, and was appointed as an expert in accounting consultation of the Ministry of Finance of the PRC in June 2016. Mr. NGAI held a master's degree in business administration from Andrews University in the United States, a bachelor's degree (Honours) in law from the University of Wolverhampton in the United Kingdom, a master's degree in corporate finance from the Hong Kong Polytechnic University, and a doctoral degree in finance from the Shanghai University of Finance and Economics.

As Mr. SU currently does not have the relevant requirements and relevant experience set out under Rules 3.28 and 8.17 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), the Company has applied to The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and has been granted a waiver from strict compliance with the requirements under Rules 3.28 and 8.17 of the Listing Rules for a period of three years from the date of appointment of Mr. SU as a joint company secretary of the Company (the "Waiver Period") by the Hong Kong Stock Exchange on 21 April 2021. During the Waiver Period, Mr. SU shall, under the assistance of Mr. NGAI, perform the relevant duties as a joint company secretary and gain relevant experience under Rule

3.28 of the Listing Rules. The waiver could be revoked if there are material breaches of the Listing Rules by the Company. Prior to the expiration of the Waiver Period, the Company shall review and submit a statement to the Hong Kong Stock Exchange to demonstrate that Mr. SU has fulfilled the relevant requirements and relevant experience under Rule 3.28 of the Listing Rules benefitting from the assistance of Mr. NGAI during the Waiver Period and is capable of discharging the function of company secretary under Rule 3.28 of the Listing Rules. Upon confirmation by the Hong Kong Stock Exchange, Mr. SU shall serve directly as company secretary of the Company without further application for waiver.

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The Board would like to express its warm welcome to Mr. SU on his appointment as a joint company secretary of the Company.

By order of the Board

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

Hong Kong, 28 April 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.

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