Ping An Insurance of China : Announcement - Appointment of Directors

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ANNOUNCEMENT

APPOINTMENT OF DIRECTORS

Reference is made to the announcements of Ping An Insurance (Group) Company of China, Ltd. (the "Company") dated February 3, 2021 and March 25, 2021 (the "Announcements") and the circular of the Company dated March 4, 2021 (the "Circular") in relation to, among others, the proposed appointment and the election of Mr. Huang Wei ("Mr. Huang") as a non-executive director of the 12th session of the board of directors of the Company (the "Board") and Mr. Ng Kong Ping Albert ("Mr. Ng") and Mr. Jin Li ("Mr. Jin") as independent non-executive directors of the 12th session of the Board at the annual general meeting held on March 25, 2021. The appointment of Mr. Huang, Mr. Ng and Mr. Jin shall become effective upon the approval of their respective qualification as directors from the CBIRC being obtained. Unless the context requires otherwise, the capitalised terms used herein shall have the same meanings as those defined in the Announcements and the Circular.

The Board hereby announces that the Company has obtained the approval from the CBIRC (Yin Bao Jian Fu [2021] No.665) recently, in which the qualification of Mr. Huang as the non-executive director and the qualifications of Mr. Ng and Mr. Jin as the independent non-executive directors were approved by the CBIRC with effect from August 20, 2021. With effect from the same day, Mr. Ng also serves as the chairman of the audit and risk management committee of the Board and a member of the related party transaction control and consumer rights protection committee of the Board, and Mr. Jin also serves as a member of the nomination and remuneration committee of the Board and a member of the related party transaction control and consumer rights protection committee of the Board. The biographies and the emolument information of Mr. Huang, Mr. Ng and Mr. Jin have been set out in the Announcements and the Circular.

As disclosed in the Announcements and the Circular, in accordance with the relevant regulatory requirements, Mr. Ge Ming ("Mr. Ge"), an independent non-executive director of the 11th session of the Board, was not eligible for re-election as a director since his cumulative term of office as an independent non-executive director exceeds six years. With effect from the date of approval by the CBIRC in respect of the qualification of Mr. Ng's serving as an independent non-executive director, Mr. Ge would cease to serve as an independent non-executive director, and the chairman of the audit and risk management committee of the Board and a member of the related party transaction control and consumer rights protection committee of the Board. Mr. Ge has confirmed that he has no disagreement with the Board and there are no matters in relation to his retirement that need to be brought to the attention of the Shareholders.

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The Board would like to take this opportunity to express its appreciation to Mr. Ge for his valuable contributions to the Company during the tenure of his services, and welcome Mr. Huang, Mr. Ng, and Mr. Jin to the Board.

By order of the Board

Sheng Ruisheng

Joint Company Secretary

Shenzhen, the PRC, August 20, 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, Wang Yongjian and Huang Wei; the independent non-executive directors of the Company are Ouyang Hui, Ng Sing Yip, Chu Yiyun, Liu Hong, Ng Kong Ping Albert and Jin Li.

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