Jinshang Bank : ANNOUNCEMENT CHANGE OF JOINT COMPANY SECRETARY

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JINSHANG BANK CO., LTD.*

晉商銀行股份有限公司 *

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

(Stock Code: 2558)

ANNOUNCEMENT

CHANGE OF JOINT COMPANY SECRETARY

The Board of Directors (the "Board") of Jinshang Bank Co., Ltd.* (the "Bank") announces that Ms. HAO Qiang ("Ms. Hao") will continue to serve as vice president of the Bank but will no longer serve as joint company secretary of the Bank since September 11, 2020 due to work re- arrangement. Ms. Hao has confirmed that she has no disagreement with the Board and that there is no matter relating to her resignation as the joint company secretary of the Bank that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Bank.

The Board would like to fully recognize and give appreciation to Ms. Hao for her valuable contribution to the Bank during her tenure of joint company secretary of the Bank.

The Board also hereby announces that it has resolved to appoint Mr. LI Weiqiang ("Mr. Li") as the new joint company secretary of the Bank, and he will formally take office as the joint company secretary of the Bank from September 11, 2020. Mr. Li joined the Bank in March 2011 and fully understood historical corporate development, business strategies, internal operations and management of the Bank.

Since Mr. Li has not yet possessed the qualifications or relevant experience as required under Rule 3.28 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), the Bank 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 and Rule 8.17 of the Listing Rules on September 11, 2020 with the following conditions: (i) Mr. Li must be assisted by Ms. YEUNG Ching Man ("Ms. Yeung"), the other joint company secretary of the Bank who complies with the requirements as company secretary under Rule 3.28 and Rule

8.17 of the Listing Rules, in his fulfillment of duties as the company secretary for a period of three years from the date of appointment of Mr. Li as the joint company secretary of the Bank; and (ii) the waiver could be revoked if there are material breaches of the Listing Rules by the Bank.

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The biographical details of Mr. Li and Ms. Yeung are as follows:

Li Weiqiang, male, 55, serves as secretary to the Board since December 2019. Mr. Li has

more than 30 years of experience in banking industry. He has been the director (主任) of the Board's office (董事會辦公室) of the Bank since March 2019 and was the director (主任) of the president's office (行長辦公室) of the Bank from February 2012 to February 2019. He served as an employees' representative Supervisor from January 2016 to May 2019. From March 2011 to February 2012, he was also the director (主任) of the assessment office (考核辦公室) of the Bank. He served for Agricultural Bank of China ("ABC") before joining the Bank. From January 2007 to July 2011, he was the director (處長) of credit management division (信貸管理處) in ABC Shanxi branch. From December 2003 to January 2007, Mr. Li was the deputy director and then the director of the party committee office (黨委辦公室) of ABC Shanxi branch. Mr. Li was a vice president (副 行長) of ABC Yangquan branch from October 1998 to December 2003. He was the office director of ABC Yangquan branch from February 1997 to October 1998. Before that, he worked as a vice

president of ABC Yangquan suburban district sub-branch from November 1995 to February 1997. Mr. Li served as the office staff member (辦公室科員) and then the deputy director (副主任) of ABC Yangquan branch from July 1988 to November 1995.

Mr. Li obtained a bachelor's degree from Hebei Finance College (河北財經學院) (currently known as Hebei University of Economics and Business (河北經貿大學)) in Hebei Province, the PRC, in July 1988, majoring in rural finance (農村金融). He is a senior economist (高級經濟師) granted by ABC in December 2001.

YEUNG Ching Man, aged 35, was appointed on January 25, 2019 as one of the joint company

secretaries of the Bank. Ms. Yeung currently serves as a vice president of SWCS Corporate Services Group (Hong Kong) Limited (方圓企業服務集團(香港)有限公司) ("SWCS"), where she is responsible for managing the company secretarial and compliance work for listed clients of

SWCS. Prior to joining SWCS, Ms. Yeung worked for an international accounting firm and the listing division of the Stock Exchange for over 12 years.

Ms. Yeung obtained a bachelor's degree in business administration of the Company from the Chinese University of Hong Kong (香港中文大學) in May 2006. She further obtained a master's degree in corporate and financial law from the University of Hong Kong (香港大學) in December 2014. Ms. Yeung is currently a member of the Hong Kong Institute of Certified Public Accountants.

The Board expresses its welcome to Mr. Li, the newly appointed joint company secretary.

By order of the Board

JINSHANG BANK CO., LTD.*

TANG Yiping

Vice Chairman

Taiyuan, September 14, 2020

As at the date of this announcement, the executive Directors are Mr. WANG Junbiao, Mr. TANG Yiping, Mr. WANG Peiming and Mr. RONG Changqing; the non-executive Directors are Mr. LI Shishan, Mr. XIANG Lijun, Mr. LIU Chenhang, Mr. LI Yang and Mr. WANG Jianjun; and the independent non-executive Directors are Mr. JIN Haiteng, Mr. SUN Shihu, Mr. WANG Liyan, Mr. DUAN Qingshan, Mr. SAI Zhiyi and Mr. YE Xiang.

• Jinshang Bank Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking/deposit-taking business in Hong Kong.

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