Jiangsu Expressway : ANNOUNCEMENT - IN RESPECT OF THE RESIGNATION OF A NON-EXECUTIVE DIRECTOR AND MEMBER OF THE STRATEGIC COMMITTEE AND A SUPERVISOR OF THE COMPANY

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江 蘇 寧 滬 高 速 公 路 股 份 有 限 公 司

JIANGSU EXPRESSWAY COMPANY LIMITED

(Established in the People's Republic of China as a joint-stock limited company)

(Stock Code: 00177)

ANNOUNCEMENT

IN RESPECT OF THE RESIGNATION OF

1. NON-EXECUTIVEDIRECTOR AND MEMBER OF THE STRATEGIC COMMITTEE AND
   A SUPERVISOR OF THE COMPANY

The Company and all members of the board of directors warrant that the information contained in this announcement is true, accurate and complete, and accept joint and several responsibility for any false representation or misleading statements contained in, or material omissions from this announcement.

The board of directors and the supervisory committee of Jiangsu Expressway Company Limited (the "Company") received resignation letters from Mr. Chen Yongbing, a director, and Ms. Yu Lanying, a supervisor, respectively, on 11 May 2021. Relevant details are as follows:

1. MR. CHEN YONGBING RESIGNED FROM THE POSITION AS A DIRECTOR OF THE COMPANY
   Mr. Chen Yongbing tendered his resignation from the positions as a non-executive director and a member of the strategic committee of the board of directors of the Company due to work reassignment. After his resignation, Mr. Chen Yongbing will cease to hold any position in the Company.

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Pursuant to the relevant provisions of the Company Law and the Articles of Association, the resignation of Mr. Chen Yongbing shall take effect upon reporting of the resignation to the board of directors of the Company. The resignation of Mr. Chen will not result in the number of the board of directors of the Company falling below the quorum, will not affect the normal operation of the board of directors and the Company, and will not have impact on the daily management, business operations and the ability of debt repayment of the Company.

Mr. Chen Yongbing confirmed that he did not have any disagreement with the board of directors of the Company, and there are no other matters that need to be brought to the attention of the shareholders of the Company.

1. M S . Y U L A N Y I N G R E S I G N E D F R O M T H E P O S I T I O N A S A SUPERVISOR OF THE COMPANY
   Ms. Yu Lanying tendered her resignation from the positions as a supervisor and the chairman of the supervisory committee of the Company due to work reassignment. After her resignation, Ms. Yu Lanying will cease to hold any position in the Company.
   Pursuant to the relevant provisions of the Company Law and the Articles of Association, the resignation of Ms. Yu Lanying shall take effect upon reporting of the resignation to the supervisory committee of the Company. The resignation of Ms. Yu will not result in the number of supervisory committee of the Company falling below the quorum, will not affect the normal operation of the supervisory committee and the Company, and will not have impact on the daily management, business operations and the ability of debt repayment of the Company.
   Ms. Yu Lanying confirmed that she did not have any disagreement with the supervisory committee of the Company, and there are no other matters that need to be brought to the attention of the shareholders of the Company.

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Mr. Chen Yongbing and Ms. Yu Lanying demonstrated dedication and diligence in serving the Company during their respective tenure of office as a director and a supervisor of the Company. The Company would like to express its sincere gratitude to Mr. Chen and Ms. Yu for their contributions to the sustainable, stable and healthy development of the Company.

By Order of the Board

Yao Yong Jia

Secretary to the Board

Nanjing, the PRC, 12 May 2021

As at the date of this announcement, the Directors of the Company are:

Sun Xibin, Chen Yanli, Cheng Xiaoguang, Yao Yongjia, Wu Xinhua, Ma Chung Lai, Lawrence, Zhang Zhuting *, Chen Liang *, Lin Hui *, Zhou Shudong *, Liu Xiaoxing *

• Independent Non-executive Directors

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