Anhui Expressway : NOTICE OF THE 2020 FIRST EXTRAORDINARY GENERAL MEETING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this notice, 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 notice.

安 徽 皖 通 高 速 公 路 股 份有限公司

ANHUI EXPRESSWAY COMPANY LIMITED

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

(Stock Code: 995)

Notice of the 2020 First Extraordinary General Meeting

Notice is hereby given that the 2020 first extraordinary general meeting (the "EGM") of Anhui Expressway Company Limited (the "Company") will be held at 3 p.m. on 4 February 2020 (Tuesday) at the conference room of the Company at 520 Wangjiang West Road, Hefei, Anhui, the PRC to consider and pass (with or without amendments) the following resolution:

To elect Mr. Xiang Xiaolong as an executive director of the board of directors (the "Board") of the Company, whose term of office will be from the date of election (i.e. the date of the EGM) to 16 August 2020 (Ordinary resolution).

By Order of the Board

Anhui Expressway Company Limited

Xie Xinyu

Company Secretary

Hefei, Anhui, the People's Republic of China

13 December 2019

As at the date of this notice, the members of the Board include Chen Dafeng, Xu Zhen, Xie Xinyu, being the executive directors; Yang Xudong and Du Jian, being the non-executive directors; and Kong Yat Fan, Jiang Jun and Liu Hao, being the independent non-executive directors.

Notes:

1. Persons who hold shares in the Company at the close of trading on 3 January 2020 (Friday) and whose names appeared on the register of the Company shall have the right to attend the EGM upon completion of the registration procedures.

1. To attend the EGM, an individual Shareholder should bring along his/her identity card and the Shareholder account card; a proxy should bring along his/her identity card, the proxy form, the Shareholder account card of the appointor and the identity card of the appointor; a representative of a legal person Shareholder should bring along his/her identity card, the proxy form of the legal person, the Shareholder account card of the legal person and a copy of the business license of the Shareholder to the Secretariat to the Board of the Company (520 Wangjiang West Road, Hefei, Anhui, the PRC) on or before 14 January 2020 (Tuesday) for registration purpose. Shareholders situated elsewhere (including H Shareholders) can register by mailing or faxing the reply slip published on the website of The Stock Exchange of Hong Kong Limited to the Company on or before 14 January 2020 (Tuesday).

1. Any Shareholder who is eligible to attend the general meeting and to vote thereat shall have the right to appoint in writing one or more persons (who may or may not be a Shareholder) as his proxy to attend and to vote at the EGM. After filling in the form of proxy and returning the same, the proxy may attend and vote at the general meeting. In case of more than one proxy appointed by a Shareholder, such proxies may exercise their voting rights only when the relevant resolution is put to the vote on a poll.

IV.	The appointment of proxy shall be through a written instrument signed by the Shareholder or by its authorized agent
	as authorized in writing. In the event such instrument is executed by the authorized agent of the appointor, such
	authorization or other authority that authorizes such signatory shall be notarized. To be valid, such notarized
	authorization or other authorization document together with the instrument shall be deposited (as far as A
	Shareholders are concerned) at the registered office of the Company (address being 520 Wangjiang West Road, Hefei,
	Anhui, the PRC) or (as far as H Shareholders are concerned) at the registrar of H Shares of the Company, Hong Kong
	Registrars Limited (address being 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong), 24
	hours before the time for holding the EGM.

- 1 -

1. The register of the holders of H Shares of the Company will be closed from 4 January 2020 (Saturday) to 4 February 2020 (Tuesday) (both days inclusive), during which period no transfer of H Shares of the Company will be registered. In order for the holders of H Shares to qualify for attending the EGM of the Company, all share certificates with completed transfer forms must be lodged with the Company's H Share registrar, i.e. Hong Kong Registrars Limited, not later than 4:30 p.m. on 3 January 2020 (Friday).
   The address of the H Share registrar in Hong Kong:
   Hong Kong Registrars Limited
   Shops 1712-1716, 17th Floor, Hopewell Center, 183 Queen's Road East, Hong Kong

VI. Contact address: 520 Wangjiang West Road, Hefei, Anhui, the PRC

Tel: [phone]

Fax: [phone]

Contact person: Dong Huihui, Ding Yu

VII. The Shareholders and any proxy who attend the EGM should present their identity cards.

VIII. It is expected that the EGM will take half a day. The Shareholders and any proxy who attend the EGM should bear their own accommodation and traveling expenses.

IX. Matters of concern for voting

1. For the purpose of the EGM, a vote may be cast by way of voting in the physical meeting (for holders of H Shares and holders of A shares) or online voting (for holders of A shares only). The system of online voting, the beginning day and ending day, as well as the voting time, are as follows:
   System for online voting: Shanghai Stock Exchange Online Voting System for Shareholders' General Meetings
   The time at which the period for online voting begins and ends: from 4 February 2020 to 4 February 2020
   The time for voting on the voting platform of the Shanghai Stock Exchange Online Voting System is the trading period, that is, 9:15-9:25,9:30-11:30 and 13:00-15:00, of the day on which the Shareholders' general meeting is convened. The time for voting on the Internet voting platform is 9:15-15:00 on the day on which the Shareholders' general meeting is convened.
2. Any vote in relation to accounts in respect of margin trading and securities lending, refinancing, buy-back agreement business and investors of the Northbound Trading Link shall be cast in accordance with the provisions of the Rules of Implementation of the Shanghai Stock Exchange Limited for Online Voting in Shareholders' General Meetings of Listed Companies and other relevant regulations.
3. Any holder of A shares of the Company who would like to cast his or her vote through the Shanghai Stock Exchange Online Voting System for Shareholders' General Meetings could either log in the voting platform of the exchange's system (through the terminus of any specified securities trading company) or the internet voting platform (URL: vote.sseinfo.com) to vote. Any investor who logs in the internet voting platform to vote for the first time is required to have his or her identity as a Shareholder verified. For details, please refer to the instructions for the internet voting platform on the website.
4. Any holder of A shares of the Company under more than one Shareholder's account may vote using any of the said accounts through the Shanghai Stock Exchange Online Voting System for Shareholders' General Meetings. After voting, such a Shareholder is deemed to have cast his or her votes in the same way in respect of all the ordinary or preference shares of the same class held under his or her said accounts.
5. For holder of A shares, if the same vote is cast more than once by way of voting in the physical meeting, via Shanghai Stock Exchange Online Voting System or otherwise, the vote first in time prevails.

This notice was originally prepared in Chinese. In the event of discrepancies between the Chinese and the English versions, the Chinese version shall prevail.

- 2 -