Postal Savings Bank of China Co., Ltd. announced a private placement of not more than 6,777,108,433 A shares with a nominal value of CNY 1 per share for gross proceeds of not more than CNY 45,000,000,000 on October 26, 2022. The transaction will include no more than 35 specific investors that meet the laws, administrative regulations and requirements of the China Securities Regulatory Commission, including securities investment and fund management companies, securities companies, trust companies, finance companies, insurance institutional investors, asset management companies, qualified foreign institutional investors and other institutional investors, legal and natural persons. The price of shares to be issued shall not be lower than the higher of the 80% of the average trading price of the shares for the 20 trading days preceding the pricing benchmark date.

The transaction has been approved by the ninth meeting of board of directors, and subject to approval of shareholders extraordinary general meeting, China Securities Regulatory Commission, China Banking and Insurance Regulatory Commission and other relevant authorities. The shares subscribed by the target subscribers shall not be transferred within six months from the date of completion of the transaction.