PICC Property and Casualty : Letter to New Registered H Shareholders - Election of Means of Receipt and Language of Corporate Communications

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

(Stock Code: 2328)

31 March 2021

Dear H Shareholder(s),

Letter to New Registered H Shareholders - Election of Means of Receipt and Language of

Corporate Communications

Pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, we are writing to seek your election in relation to the corporate communications ("Corporate Communications") of PICC Property and Casualty Company Limited (the "Company") to be despatched in the future.

Corporate Communications include any documents to be issued by the Company for your information or action, including but not limited to (a) annual report; (b) interim report; (c) notice of meeting; (d) listing document; (e) circular; and (f) proxy form.

You may choose:

• (1) to read the Corporate Communications published on the Company's website atproperty.picc.com(the "Website Version") instead of receiving printed copies, and to receive a printed notification of the publication of the Corporate Communications; or

• (2) to receive the printed English version of the Corporate Communications only; or

• (3) to receive the printed Chinese version of the Corporate Communications only; or

• (4) to receive both the printed English and Chinese versions of the Corporate Communications.

In order to protect the environment and save costs, we recommend you to select reading the Website Version. Shareholders have the right to change their choice of means of receipt and language at any time by reasonable notice in writing to the Company's H share registrar. Alternatively, shareholders may send such notice by email [e-mail] (Note).

To make your election, please mark an "X" in the appropriate box in the enclosed Election Form, and complete and return the same to the Company's H share registrar, Computershare Hong Kong Investor Services Limited, by using the mailing label at the bottom of the Election Form (there is no need to affix a stamp if posted in Hong Kong).

If we do not receive the Election Form from you by 28 April 2021, and until you inform the Company's H share registrar by reasonable notice in writing or send such notice to the email address [e-mail],you will be deemed to have consented to reading the Website Version and the Company will only send you a printed notification of the publication of the Corporate Communications on the Company's website in the future.

Even if you have chosen to read (or are deemed to have consented to reading) the Website Version and have difficulty in receiving or gaining access to any Corporate Communication(s) for any reason, the Company will promptly, upon receiving your request, send the relevant version(s) of the Corporate Communication(s) to you in printed form free of charge.

Please note that (i) both the printed English and Chinese versions of the Corporate Communications will be available from the Company or its H share registrar on request; and (ii) both the English and Chinese versions of the Corporate Communications will also be available on the Company's website atproperty.picc.comand on the website of Hong Kong Exchanges and Clearing Limited atwww.hkexnews.hk.

Should you have any queries relating to this letter, please contact the Company's H share registrar by calling the hotline at (852) 2862 8688 during business hours (9:00 a.m. to 6:00 p.m., Monday to Friday, excluding Hong Kong public holidays).

Yours faithfully,

PICC Property and Casualty Company Limited

Note: This email address is used only for registered H shareholders to notify the Company of their change in the choice of receiving

Corporate Communications (means of receipt and language) and printed copy request, other matters will not be accepted.