Shanghai Electric : POSTPONEMENT OF THE EGM, EXTENSION OF CLOSURE OF REGISTER OF MEMBERS AND EXPLANATORY NOTES FOR THE ORDINARY RESOLUTION PROPOSED IN THE EGM

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.

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

(Stock Code: 02727)

POSTPONEMENT OF THE EXTRAORDINARY GENERAL MEETING,

EXTENSION OF CLOSURE OF REGISTER OF MEMBERS AND EXPLANATORY NOTES FOR THE ORDINARY RESOLUTION PROPOSED IN THE EGM

References are made to the notices of Shanghai Electric Group Company Limited (the "Company") in relation to the 2021 first extraordinary general meeting (the "EGM") published on 5 March 2021 and the supplemental notice for EGM published on 26 March 2021 (the "Notices"), which set out the time and venue of the EGM and the resolutions to be submitted to the EGM for shareholders' approval. According to the Notices, the EGM was originally scheduled to be held at 9:00 a.m. on Tuesday, 20 April 2021 at Fulin Hall, 9th Floor, Shanghai Bund Yujinxiang Xinya Hotel, 422 Tiantong Road, Shanghai, the PRC.

Postponement of the EGM

The Company hereby announces that the Company proposes a new resolution to be reviewed and voted in the EGM and thus more additional time is required to prepare supplemental circular, after due and careful consideration, the EGM will be postponed to be held at 9:00 a.m. on Monday, 17 May 2021. The method of convening the meeting, venue and other resolutions of the EGM remain unchanged. Please refer to the Notices for details.

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Extension of Closure of Register of Members

Due to the postponement of the EGM, in order to determine the list of the shareholders who are entitled to attend and vote at the EGM, the last date for closure of register of members for the H shares will be extended from Tuesday, 20 April 2021 to Monday, 17 May 2021. The Company's register of members for the H shares will be closed from Saturday, 20 March 2021 to Monday, 17 May 2021 (both days inclusive), during which period no transfer of H shares will be effected. The holders of H shares whose names appear on the Company's register of members on Monday, 17 May 2021 shall be entitled to attend and vote at the postponed EGM.

Proxy Forms and Reply Slips

The supplemental form of proxy (the "Third Proxy Form") published on 13 April 2021 will not affect the validity of any proxy form duly completed and delivered by shareholders in respect of the resolutions set out in the notice of the EGM dated 5 March 2021 and the supplemental notice of the EGM dated 26 March 2021. If shareholders do not duly complete and deliver the Third Proxy Form but have duly completed and delivered the proxy form dated 5 March 2021 (the "Original Proxy Form") and/or the supplemental form of proxy dated 26 March 2021 (the "Second Proxy Form") and validly appointed a proxy to attend and act for them at the EGM, such shareholders' proxy will be entitled to vote at his discretion on the ordinary resolution set out in the second supplemental notice of the EGM dated 13 April 2021. If shareholders do not duly complete and deliver the Original Proxy Form and the Second Proxy Form for the EGM but have duly completed and delivered the Third Proxy Form and validly appointed a proxy to attend and act for them at the EGM, such shareholders' proxy will be entitled to vote at his discretion on the resolutions set out in the notice of the EGM dated 5 March 2021 and the supplemental notice of the EGM dated 26 March 2021.

If the proxy being appointed to attend the EGM under the Third Proxy Form is different from the proxy appointed under the Original Proxy Form and/or the Second Proxy Form and both or more than two proxies attended the EGM, the proxy validly appointed under the Original Proxy Form and/or the Second Proxy Form shall be designated to vote at the EGM. If the proxy being appointed to attend the EGM under the Second Proxy Form is different from the proxy appointed under the Original Proxy Form and both proxies attended the EGM, the proxy validly appointed under the Original Proxy Form shall be designated to vote at the EGM.

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The holders of H shares who have not returned the proxy forms but intend to appoint a proxy to attend and vote at the postponed EGM are advised to complete and return the proxy forms in accordance with the instructions printed thereon to the Company's H share registrar, Computershare Hong Kong Investor Services Limited, at 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong not less than 24 hours before the time scheduled for holding of the postponed EGM. The deadline for returning the reply slips will be extended from Wednesday, 31 March 2021 to Monday, 26 April 2021. The holders of H shares who have not returned the reply slips but intend to attend and vote at the EGM are advised to complete and return the reply slips in accordance with the instructions printed thereon to Computershare Hong Kong Investor Services Limited at 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong on or before the aforesaid extended date.

A supplemental circular containing the second supplemental notice of the EGM will be dispatched to the shareholders in due course.

Explanatory Notes for the Ordinary Resolution Proposed in the EGM

Reference is made to the announcement of the Company dated 12 April 2021 in relation to the appointment of Mr. GAN Pin as a director of the Company. The Company hereby clarifies that the position Mr. GAN Pin was nominated as by the board of directors is a non-executive director of the Company. For details, please refer to the second supplemental notice of EGM dated 13 April 2021.

By order of the Board

Shanghai Electric Group Company Limited

ZHENG Jianhua

Chairman of the Board

Shanghai, the PRC, 13 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. ZHENG Jianhua, Mr. HUANG Ou and Mr. ZHU Zhaokai; the non-executive directors of the Company are Ms. YAO Minfang and Ms. LI An; and the independent non- executive directors of the Company are Dr. XI Juntong, Dr. XU Jianxin and Dr. LIU Yunhong.

• For identification purpose only

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