ZhongAn Online P & C Insurance : NOMINATION OF A CANDIDATE FOR INDEPENDENT NON-EXECUTIVE DIRECTOR AND ELECTION OF A MEMBER FOR RISK MANAGEMENT COMMITTEE

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眾 安 在 綫 財 產 保 險 股 份 有 限 公 司

ZHONGAN ONLINE P & C INSURANCE CO., LTD.*

(A joint stock limited company incorporated in the People's Republic of China with limited

liability and carrying on business in Hong Kong as "ZA Online Fintech P & C")

(Stock Code: 6060)

NOMINATION OF A CANDIDATE FOR

INDEPENDENT NON-EXECUTIVE DIRECTOR

AND

ELECTION OF A MEMBER FOR RISK MANAGEMENT COMMITTEE

Nomination of a Candidate for Independent Non-Executive Director

Mr. Shuang Zhang ("Mr. Zhang"), an independent non-executive director of ZhongAn Online P & C Insurance Co., Ltd. (the "Company", together with its subsidiaries, the "Group"), obtained the approval (Baojian Xuke [2014] No. 942) of his qualification as an independent non-executive director of the Company from the former China Insurance Regulatory Commission on November 14, 2014. Mr. Zhang was elected for re-appointment at the annual general meeting of the Company in May 2019, and he will be serving the Company for 6 years on November 13, 2020.

The board of directors (the "Board") of the Company is pleased to announce that Mr. Zhang has been nominated as a candidate for independent non-executive director of the Company as approved by the Board meeting held on September 18, 2020. The biographical details of Mr. Zhang that are required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") is as follows:

Shuang Zhang (張爽), aged 48, is an independent non-executive director and chairman of the Remuneration and Nomination Committee of the Company. Mr. Zhang joined the Group in November 2013. Mr. Zhang graduated from Nanjing University (南京大學), majoring in natural resources management, in July 1994 and

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a master's degree in science from James Madison University in the United States in May 2002. He has been chief executive officer of The Paradise International Foundation (桃花源生態保護基金會) since 2015, and an independent non-executive director of Planetree International Development Limited, a company listed on the Stock Exchange of Hong Kong Limited (stock code: 613), since April 2020. Mr. Zhang has been a project director of the China region at The Nature Conservancy (大自然保護協會) from 2005 to 2015.

Mr. Zhang is appointed for a term of office commencing from the date of approval of the general meeting till the expiration of the term of the third session of the Board. Mr. Zhang is entitled to receive a director's fee of HK$250,000 per annum.

Save as disclosed above, Mr. Zhang confirms that (1) he has not held any other directorships in other listed public companies in the past three years, and he does not hold any other major appointments or professional qualifications, (2) he does not hold any position in the Company or any of its subsidiaries, (3) he does not have any relationships with any directors, supervisors, senior management, substantial shareholders or controlling shareholders of the Company and any of its subsidiaries, and (4) he does not hold any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.

Mr. Zhang also confirms that, as at the date of this announcement, save as disclosed above, there is no other information to be disclosed pursuant to any of the requirements under Rule 13.51(2)(h) to (v) of the Listing Rules, nor is there any other matters relating to his re-appointment that needs to be brought to the attention of the shareholders of the Company.

Mr. Zhang's re-appointment qualification as stated above will be subject to the approval of the general meeting of the Company. A circular containing, among other things, the information in relation to the aforesaid nomination and a notice of the general meeting of the Company will be dispatched to the shareholders of the Company as soon as reasonable and practicable.

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Election of a Member for Risk Management Committee

The Board is pleased to announce that Mr. Wei Ou, an independent non-executive director of the Company, has been appointed as a member of the Risk Management Committee of the Company with effect from September 18, 2020, as approved by the Board meeting held on September 18, 2020.

By Order of the Board

ZhongAn Online P & C Insurance Co., Ltd.

Yaping Ou

Chairman

Shanghai, the PRC, September 18, 2020

As at the date of this announcement, the Board comprises three executive directors, namely Mr. Yaping Ou (chairman), Mr. Jin Chen and Mr. Hugo Jin Yi Ou, four non-executive directors, namely Mr. Xinyi Han, Mr. Liangxun Shi, Mr. Ming Yin and Mr. Weibiao Zhan**, and five independent non-executive directors, namely Mr. Shuang Zhang, Ms. Hui Chen, Mr. Yifan Li, Mr. Ying Wu and Mr. Wei Ou.

• For identification purposes only and carrying on business in Hong Kong as "ZA Online Fintech P & C"
• Mr. Weibiao Zhan shall be a non-executive director of the Company upon his qualification as a director of the Company being approved by the China Banking and Insurance Regulatory Commission.

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