Ping An Insurance of China : 2021 Sustainability Report

Ping An 2021 Sustainability Report

CONTENTS

01

Opening

About this Report	06
Executive Statement	07
Corporate Profile	08
Milestones of Sustainability	10
Annual Awards and Recognition	12
Annual Performance Review	14

02

Sustainable Development

Strategies and Management

Philosophy of Sustainable Development	18
Analysis of Stakeholders and Core Topics	19
ESG Management System	21
ESG Risk Identification and Management	24
Climate Change Strategies	29

03

Feature on Responsibility

Green Finance for Sustainable	32
Development
Focusing on Rural Revitalization, Boosting	44
Common Prosperity

04

Sustainable Business and Operations

Transparent Corporate Governance	56
Responsible Investing	62
Sustainable Insurance	68
Product Liability and Customer Protection	77
Information Security and AI Governance	79
Development and Welfare of Employees and	85
Agents	86

Sustainable Supply Chains

89

Green Operation

Community Impact

05

Appendix

Annual Key Performance	96
Statement of the Board of Directors	108
Independent Third-Party Assurance Report	110
Indicator Indexes	112
Feedback	123

Ping An 2021 Sustainability Report

About this Report

Scope of the Report

Reporting scope: The Report is mainly about Ping An Insurance (Group) Company of China, and

covers its subsidiaries.Reporting period: From January 1, 2021 to December 31, 2021.Reporting cycle: The Report is released annually.

Compilation Principles of the Report

The Report is compiled in accordance with the Environmental, Social and Governance Reporting Guide of the Stock Exchange of Hong Kong Limited and by reference to Global Reporting Initiative (GRI) Sustainability Reporting Standards, as well as the latest version of the Sustainability Accounting Standards Board (SASB) sustainability accounting standards on Commercial Banks, Insurance and Asset Management & Custody Activities.

Data of the Report

The financial data in the report was extracted from Ping An 2021 Annual Report. Other data came from the internal systems of the Group or manual collection. Unless otherwise specified, the currency in the Report is RMB.

Assurance of the Report

The contents and data disclosed in the Report were approved by the Board of the Directors of Ping An Insurance (Group) Company of China. Deloitte Touche Tohmatsu Certified Public Accountants (LLP) has carried out an independent third-party assurance on the Report in accordance with International Standard on Assurance Engagements 3000: Assurance Engagements Other Than Audits or Reviews of Historical Financial Information ("ISAE3000").

Release Form of the Report

The Reports in Chinese and English are released both in hardcopy and online. The online version can be accessed at www.group.pingan.com (Ping An Official Website), or www.sse.com.cn (Shanghai Stock Exchange Website) and www.hkenews.hk (Hong Kong Exchanges and Clearing Limited Website).

Contact Us

Address: 47/F, Ping An IFC, No.5033, Futian District, Shenzhen, P.R.China

Postcode: 518033

Phone: [phone]

Email: [e-mail]

| Opening	|  Sustainable Development	| Feature on	| Sustainable Business	| Appendix
	Strategies and Management	Responsibility	and Operations

Executive Statement

An ordinary day at Ping An goes like this. In every 1,000 Chinese, there is 1 Ping An employee. In every 7 Chinese, there is 1 Ping An client. Ping An contributes RMB 280 million to tax revenue, processes insurance claims totaling RMB 560 million, and delivers services nearly 2.52 million times daily. In a race against time, Ping An spent just 33 years walking through the nearly 200-year history of the Western insurance market. Staying true to Ping An's original mission, we will never forget why we started this journey no matter how far we go. Standing at the intersection of two-centenary goals, Ping An is on the way into the new era by taking action on giving back to society, centering on people's needs, and pursuing heartwarming development for national prosperity and people's happiness.

Ping An's heartwarming services convey the idea that expertise makes life simple and technology makes city better. Ping An constantly updates our philosophy of serving clients by taking thorough consideration for insurance claims, and unconventionally launched the model of Product + Services for clients. Aiming to develop "heartwarming insurance", we provide services on health care, chronic disease, critical illness and pension management, etc. Targeting the goal of improvement in administrative efficiency, business promotion, and benefaction to citizens, we leverage technology to empower the smart city construction covering 20 sectors, such as public administration, healthcare, and transportation to enhance the sense of happiness and achievement in citizens.

Ping An's heartwarming services have shown responsibility in supporting the Healthy China Initiative and elderly-oriented society building. Ping An strived in building a closed-loop healthcare ecosystem through five aspects - institution, clientr, service provider, payer, and technology. As China steps into an aging society, Ping An will take advantage of FinTech and healthcare ecosystem to develop services for the senior health and wellness industry , helping the elderly age live with dignity, and encouraging more household elderly services.

Ping An's heartwarming services have presented its ambition in practicing CSR and sustainable development. Ping An has responded to the national carbon peaking and carbon neutrality goals of 2030 and 2060, and has started new exploration in greening the insurance, investment, credit, operation, and charity action. Ping An announced its commitment to allocate RMB 400 billion into green investment and loan as well as reaching an insured premium of RMB 250 billion in green insurance, striving towards an early completion of its carbon neutrality goals, contributing to a better world.

Focusing on "Integrated finance" and "Healthcare", Ping An in 2022 will continue to build upon the strategy of "finance + technology" and "finance + ecosystem" and pave the way to becoming a world-leading integrated financial and healthcare services provider.

Mingzhe MA Chairman of the Group (Excerpt from "Striving for a New Journey in the Prime of Ping An"

published in People's Daily on May 25, 2021)

-6-

-7-