Anhui Expressway : RESIGNATION OF DIRECTOR AND NOMINATION OF CANDIDATE FOR NEW DIRECTOR

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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)

RESIGNATION OF DIRECTOR

AND

NOMINATION OF CANDIDATE FOR NEW DIRECTOR

RESIGNATION OF DIRECTOR

The board of directors (the "Board") of Anhui Expressway Company Limited (the "Company") announces that it received the resignation letter on 12 December 2019 from Mr. Qiao Chuanfu ("Mr. Qiao"), who was an executive director of the Company. Due to change of work arrangement, Mr. Qiao had tendered his resignation as an executive director (and, at the same time, ceased to be the chairman of the Board and member and chairman of the Company's strategic development and investment committee) and an authorised representative under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Mr. Qiao has confirmed that he has no disagreement with the Board. And, there is no matter relating to his resignation that will need to be brought to the attention of the shareholders of the Company. Pursuant to relevant provisions under the Company Law, the Company's number of directors will not fall below the minimum legal requirement after Mr. Qiao's resignation and the normal operation of the Board will not be affected. Accordingly, Mr. Qiao's resignation took effect upon receipt of his resignation application by the Board. After resignation, Mr. Qiao will not hold any post in the Company.

The Board would like to express its sincere gratitude to Mr. Qiao for his endeavours and contributions to the Company during his term of office!

The Company will in line with legal procedures complete election of new chairman of the Board as soon as possible. As it takes time to go through legal procedures for the aforesaid matter, the Board held a meeting on 13 December 2019 and the directors unanimously nominated Mr. Chen Dafeng (an executive director) as a provisional convener for meetings of the Board to exercise the rights of chairman of the Board on a provisional basis.

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NOMINATION OF CANDIDATE FOR NEW DIRECTOR

The Board agrees to nominate Mr. Xiang Xiaolong ("Mr. Xiang") as the candidate for the new director of the Company, whose term of office will be from the date of election (i.e. the date of the extraordinary general meeting (the "EGM") to be held for approving the election of the new director) to 16 August 2020.

Biographical details of Mr. Xiang are set out as follows:

Mr. Xiang Xiaolong, aged 55, had obtained an academic qualification equivalent to the Master of Business Administration from Anhui Institute of Business Administration. He previously acted as the secretary and deputy director of Anhui Provincial Supply and Marketing Cooperative Office, the deputy general manager of Anhui Provincial Agricultural Resources Company, the director of Anhui Provincial Supply and Marketing Cooperative Office, an assistant of the mayor of the Municipal Government, the director of the Municipal Development and Reform Commission, and the secretary of the Municipal Government and the director of the Municipal Administrative Services Center in Anqing, the deputy mayor of the Anqing Municipal Government, a member of the Standing Committee and the deputy mayor of the Anqing Municipal Party Committee, the deputy director and a member of the Party Committee of the State-owned Assets Supervision and Administration Commission of the Anhui Provincial Government, the deputy director of the State- owned Assets Supervision and Administration Commission of the Anhui Provincial Government and the deputy secretary of the Party Committee (Director Level). Currently he is the secretary of the Party Committee and the chairman of the board of directors of Anhui Transportation Holding Group Company Limited.

Save as disclosed in this announcement, Mr. Xiang has no relationship with any directors or the senior management of the Company, or with any substantial shareholders or controlling shareholder of the Company and does not hold any other positions in the Company and its subsidiaries.

As at the date of this announcement, to the best of the knowledge and belief of the Company, Mr. Xiang does not have any interest in the shares (within the meaning of Part XV of the Securities and Futures Ordinance) of the Company. Save as disclosed in this announcement, Mr. Xiang has not held any directorship in any other listed company in the last three years.

Save as disclosed in this announcement, Mr. Xiang has confirmed that there are no other matters that need to be brought to the attention of the shareholders in connection with his election nor is there any information required to be disclosed pursuant to Rule 13.51(2)(h)-(v) of the Listing Rules.

Subject to the approval by the shareholders at the EGM, the Company will enter into a service contract with Mr. Xiang in respect of his appointment as an executive director for a term commencing from the date of approval by the shareholders at the EGM to 16 August 2020.

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In line with the remuneration proposals for the Board of the eighth session, the Company will not determine and pay extra director's remuneration to a director who receives remuneration from an entity that is a shareholder of the Company.

A circular containing the nomination of Mr. Xiang as a candidate for the new director and notice of the EGM will be dispatched to the shareholders as soon as practicable.

By Order of the Board

安徽皖通高速公路股份有限公司

Anhui Expressway Company Limited

Xie Xinyu

Company Secretary

Hefei, Anhui, the PRC

13 December 2019

As at the date of this announcement, the Board comprises: 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.

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

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