China Minsheng Financial : GRANT OF WAIVER FROM STRICT COMPLIANCE WITH RULES 3.10(1) AND 3.21 OF THE LISTING RULES FROM 28 SEPTEMBER 2019 TO 28 DECEMBER 2019

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

China Minsheng Financial Holding Corporation Limited

中 國 民 生 金 融 控 股 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 245)

GRANT OF WAIVER FROM STRICT COMPLIANCE WITH RULES 3.10(1)

AND 3.21 OF THE LISTING RULES

FROM 28 SEPTEMBER 2019 TO 28 DECEMBER 2019

Reference is made to the announcements of China Minsheng Financial Holding Corporation Limited dated 28 June 2019 and 27 September 2019 (the ''Announcements''). Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the Announcements.

As stated in the Announcements, since the retirement by rotation of Mr. Lyu, the number of independent non-executive directors of the Company has reduced from three to two, which falls below the minimum number required under Rule 3.10(1) of the Listing Rules. Mr. Lyu was also a member of the audit committee of the Company and the vacancy thereof resulted in the non-fulfilment of the requirements under Rule 3.21 of the Listing Rules by the Company.

The Company has been considering potential candidates for appointment over the past months. As additional time is required by the Company to identify a suitable candidate, the Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the Company, a waiver from strict compliance with Rules 3.10(1) and 3.21 of the Listing Rules from 28 September 2019 to 28 December 2019 for filing the vacancy.

The Company will use its best endeavours to identify and appoint a new independent non- executive director within the extended period. Further announcement(s) will be made by the company as and when appropriate.

By order of the Board

China Minsheng Financial Holding Corporation Limited

Tomohiko Watanabe

Chairman

Hong Kong, 9 October 2019

As at the date of this announcement, the Board comprises (1) Mr. Tomohiko Watanabe, Mr. Ni Xinguang, and Ms. Li Wei as executive directors of the Company; (2) Mr. Wang Dongzhi as non-executive director of the Company; and (3) Mr. Wang Yongli and Ms. Zhou Hui as independent non-executive directors of the Company.