Change of Chairman of a Subsidiary

21 March 2025

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

Change of Chairman of a Subsidiary

China Pacific Insurance (Group) Co., Ltd. (the "Company" or "CPIC") hereby announces that on 20 March 2025, China Pacific Property Insurance Co., Ltd. ("CPIC P/C"), a subsidiary of the Company, convened the sixth meeting of the eighth session of the board, at which the Resolution on the Election of Mr. YU Bin as the Chairman of the Eighth Session of the Board of China Pacific Property Insurance Co., Ltd. was considered and approved, and Mr. YU Bin was elected as the chairman of the eighth session of the board of CPIC P/C. Mr. GU Yue ceased to serve as the chairman of CPIC P/C due to age reasons.

According to the requirements of relevant laws and regulations, the appointment qualification of Mr. YU Bin as the chairman of CPIC P/C is subject to approval by the regulatory authorities.

The biographical details of Mr. YU Bin are set out as below:

Mr. YU Bin, born in August 1969, currently serves as the vice president of the Company, chairman of CPIC Technology, and director of CPIC P/C.

Mr. YU previously served as deputy general manager of the Non-marine Insurance Department and Underwriting & Claims Department of CPIC P/C, general manager of the Market R&D Centre and the Market Department of CPIC P/C, chief marketing officer and deputy general manager of CPIC P/C, executive director and general manager of CPIC Online Services, and assistant president of the Company.

Mr. YU has a master's degree.

By Order of the Board of Directors

China Pacific Insurance (Group) Co., Ltd.

FU Fan

Chairman

About CPIC

CPIC is a joint stock company established under the laws of the People's Republic of China with limited liability.

CPIC's registered office is located at 1 South Zhongshan Road, Huangpu District, Shanghai, the People's Republic of China.