Ping An Insurance of China : Overseas Regulatory Announcement

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.

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

"The Announcement of Ping An Insurance (Group) Company of China, Ltd. regarding the Completion of Share Purchase under the 2021 Key Employee Share Purchase Scheme", which is published by Ping An Insurance (Group) Company of China, Ltd. on the website of the Shanghai Stock Exchange, is reproduced herein for your reference.

By order of the Board

Sheng Ruisheng

Joint Company Secretary

Shenzhen, the PRC, April 30, 2021

As at the date of this announcement, the executive directors of the Company are Ma Mingzhe, Xie Yonglin, Tan Sin Yin, Yao Jason Bo and Cai Fangfang; the non-executive directors of the Company are Soopakij Chearavanont, Yang Xiaoping and Wang Yongjian; the independent non-executive directors of the Company are Ge Ming, Ouyang Hui, Ng Sing Yip, Chu Yiyun and Liu Hong.

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Stock Code: 601318 Stock Short Name: Ping An of China Serial No.: Lin 2021-027

THE ANNOUNCEMENT OF

PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. REGARDING

THE COMPLETION OF SHARE PURCHASE UNDER

THE 2021 KEY EMPLOYEE SHARE PURCHASE SCHEME

The board of directors (the "Board") and all directors of Ping An Insurance (Group) Company of China, Ltd. (the "Company") confirm that there are no false representations and misleading statements contained in, or material omissions from this announcement, and severally and jointly accept the responsibility for the truthfulness, accuracy and completeness of the contents of this announcement.

The Resolution regarding the Participation in the 2021 Key Employee Share Purchase Scheme (hereinafter referred to as the "2021 Key Employee Share Purchase Scheme") was considered and approved at the 2nd meeting of the 12th session of the Board held on April 22, 2021, for details of which please refer to the Announcement of the Company regarding the Implementation Plan of the 2021 Key Employee Share Purchase Scheme published on the website of the Shanghai Stock Exchange (www.sse.com.cn) on April 23, 2021.

In accordance with the requirements as stated in the Guiding Opinions on the Pilot Implementation of Employee Share Purchase Schemes by Listed Companies (Zheng Jian Hui Gong Gao [2014] No.33) issued by China Securities Regulatory Commission and the Notice of Shanghai Stock Exchange on Issuing the Guidelines for Information Disclosure for Employee Share Purchase Scheme of Listed Companies (Shang Zheng Fa [2014] No.58), the implementation progress of the 2021 Key Employee Share Purchase Scheme of the Company is set out as follows:

The share purchase under the 2021 Key Employee Share Purchase Scheme of the Company was conducted in the secondary market from April 26, 2021 to April 29, 2021. A total of 9,162,837 A shares of the Company (Stock Code: 601318.SH) were purchased, representing 0.050% of the total share capital of the Company. The aggregate transaction amount was RMB670,258,495.86 (expenses inclusive) and the average transaction price was approximately RMB73.13 per share. The sources of funds for the above share purchase were from the legitimate income and performance-based bonus of the employees.

A total of 1,754 key personnels voluntarily participated in the 2021 Key Employee Share Purchase Scheme. After this share purchase, the shareholding of directors, supervisors, senior management and other employees of the Company under the 2021 Key Employee Share Purchase Scheme of the Company is as follows:

			Percentage to the 2021 Key
Holders		Number of shares held	Employee Share Purchase
			Scheme
Directors, supervisors and	senior	2,507,950	27.37%
management *
Other employees		6,654,887	72.63%
Total		9,162,837	100.00%

*This represents executive directors: Ma Mingzhe, Xie Yonglin, Tan Sin Yin, Yao Jason Bo and Cai

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Fangfang; senior management members: Chen Kexiang, Huang Baoxin, Sheng Ruisheng and Hu

Jianfeng; employee representative supervisor: Wang Zhiliang.

The lock-up period for the shares purchased under the 2021 Key Employee Share Purchase Scheme is from May 6, 2021 to May 5, 2022. Pursuant to the Key Employee Share Purchase Scheme, after the end of the lock-up period, the actual number of shares to be vested in the scheme holders shall be subject to their achievement of certain performance targets.

The Board of Directors

Ping An Insurance (Group) Company of China, Ltd.

April 30, 2021

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