Resignation of a Proposed Supervisor

10 July 2020

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

Resignation of a Proposed Supervisor

The board of supervisors of China Pacific Insurance (Group) Co., Ltd. (the "Company" or "CPIC") recently received a resignation letter from Mr. LU Guofeng, a proposed supervisor of the Company. Mr. LU Guofeng has resigned as a shareholder representative supervisor of the 9th board of supervisors due to work arrangements. The nomination of Mr. LU Guofeng as a supervisor has been considered and approved at the 2019 annual general meeting of the Company, and his appointment qualification is subject to the approval by the China Banking and Insurance Regulatory Commission.

Mr. LU Guofeng has confirmed that he has no disagreement with the board of supervisors and the board of directors (the "Board") of the Company and that there is no other matter that needs to be brought to the attention of the shareholders of the Company.

By Order of the Board

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

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.