Hong Kong Exchanges and Clearing : Change in Secretary of the Board and Company Secretary

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.

深 圳 高 速 公 路 股 份 有 限 公 司

SHENZHEN EXPRESSWAY COMPANY LIMITED

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

(Stock Code: 00548)

CHANGE IN SECRETARY OF THE BOARD AND

COMPANY SECRETARY

RESIGNATION OF SECRETARY OF THE BOARD AND COMPANY SECRETARY

The board (the "Board") of directors of Shenzhen Expressway Company Limited (the "Company") hereby announces that Mr. Luo Kun ("Mr. Luo"), the secretary of the Board and the company secretary has resigned from his position as the secretary of the Board and the company secretary due to his personal planning. His resignation notice was delivered to the Board and will take effect from 23 August 2019.

Mr. Luo has confirmed that he has no disagreement with the Board and the supervisory committee of the Company and there are no matters that need to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") in relation to his resignation.

APPOINTMENT OF SECRETARY OF THE BOARD AND JOINT COMPANY SECRETARIES

The Board further announces that, Ms. Gong Tao Tao ("Ms. Gong") has been appointed as the secretary of the Board, and Ms. Gong and Ms. Lam Yuen Ling Eva ("Ms. Lam") have been appointed as the joint company secretaries of the Company, with effect from 23 August 2019 for a term of three years ending on 22 August 2022.

The biographical details of Ms. Gong and Ms. Lam are as follows:

Ms. Gong, born in 1973, is a certified public accountant of PRC and a certified public valuer of PRC. She obtained a bachelor degree in auditing from Shanghai University of Finance & Economics and a master degree in business administration from Fudan University. She has many years of experiences in finance, accounting, auditing and risk management. Ms. Gong joined the Company in 1999. She had consecutively served as the deputy manager of the Finance Department and the manager of the Internal Audit Department. She was the Financial

- 1 -

Controller of the Company from November 2002 to August 2018, and has been a Vice President of the Company since September 2018. Ms. Gong had served as an executive Director of the Company from January 2018 to September 2018. She is also concurrently serving as director of some subsidiaries of the Company and director of some enterprises invested by the Company.

Ms. Lam, born in 1966, is a fellow of both The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators. She obtained a Higher Certificate in Company Secretaryship and Administration from the Hong Kong Polytechnic University and was awarded a degree of Master of Science in Corporate Governance and Directorship by the Hong Kong Baptist University. Ms. Lam has over 20 years of experience in company secretarial services and commercial solutions. She is currently a director of BMI Listed Corporate Services Limited and is responsible for supervising the company secretarial teams to provide full range of listed and private company secretarial services to clients. Ms. Lam is also the company secretary or joint company secretary of various companies listed on the Stock Exchange and had been a joint company secretary of the Company from January 2016 to January 2019.

Ms. Lam possesses the qualifications of company secretary as required under Rule 3.28 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). Based on the educational background and work experience of Ms. Gong and the assistance of Ms. Lam, the Company has applied to the Stock Exchange for, and the Stock Exchange has granted, a waiver from strict compliance with the requirements under Rule 3.28 of the Listing Rules with respect to the appointment of Ms. Gong as a joint company secretary of the Company for a period of three years from the date of his appointment as a joint company secretary of the Company (the "Waiver Period"). The waiver is granted on the condition that,

1. Ms. Gong will be assisted by Ms. Lam during the Waiver Period and the waiver will be revoked immediately if and when Ms. Lam ceases to be a joint company secretary of the Company; (ii) the Company will notify the Stock Exchange at the end of the Waiver Period for the Stock Exchange to revisit the situation. The Stock Exchange expects that, after the end of the Waiver Period, the Company will be able to demonstrate that Ms. Gong, having had the benefit of Ms. Lam's assistance, satisfies the requirements under Rule 3.28 of the Listing Rules such that a further waiver will not be necessary; and (iii) the Company announces the details of the waiver, including its reasons and conditions.

The Board would like to take this opportunity to express its gratitude to Mr. Luo for his valuable contributions to the Company during his tenure of service and to give a warm welcome to Ms. Gong and Ms. Lam on their appointment.

By order of the Board

Hu Wei

Chairman

Shenzhen, the PRC, 23 August 2019

- 2 -

As at the date of this announcement, the directors of the Company are Mr. HU Wei (Executive Director and Chairman of the Board), Mr. LIAO Xiang Wen (Executive Director and President), Mr. WEN Liang (Executive Director), Ms. CHEN Yan (Non-executive Director), Mr. FAN Zhi Yong (Non-executive Director), Mr. CHEN Yuan Jun (Non-executive Director), Mr. CHEN Kai (Non-executive Director), Mr. CAI Shu Guang (Independent non-executive Director), Mr. WAN Siu Wah Wilson (Independent non-executive Director), Ms. CHEN Xiao Lu (Independent non-executive Director) and Mr. BAI Hua (Independent non-executive Director)..

In this announcement, certain English names are translation of their Chinese names, and are included herein for identification purpose only. In the event of any inconsistency, the Chinese names shall prevail.

- 3 -