Postal Savings Bank of China : ANNOUNCEMENT IN RELATION TO THE APPROVAL OF THE CSRC ON THE NON-PUBLIC ISSUANCE OF A SHARES

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.

POSTAL SAVINGS BANK OF CHINA CO., LTD.

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

(Stock Code: 1658)

(Stock Code of Preference Shares: 4612)

ANNOUNCEMENT IN RELATION TO

THE APPROVAL OF THE CSRC ON THE NON-PUBLIC

ISSUANCE OF A SHARES

References are made to the announcements of Postal Savings Bank of China Co., Ltd. (the "Bank") dated November 30, 2020 and December 21, 2020 and the circular of the Bank dated December 4, 2020 (the "Circular") in relation to (among others) the Non-public Issuance of A Shares. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the Circular.

Recently, the Bank received the Approval Regarding the Non-public Issuance of Shares by Postal Savings Bank of China Co., Ltd. (Zheng Jian Xu Ke [2021] No. 751) issued by the China Securities Regulatory Commission (the "CSRC"). The CSRC has approved the Bank's non-public issuance of a maximum of 5,405,405,405 new shares. In the event of change in the total share capital resulting from conversion of share capital, etc., the number of shares under the issuance can be adjusted correspondingly. The Approval is valid within 12 months from the date of approval of the issuance.

The Board of Directors of the Bank will handle the matters relating to the Non-public Issuance of A Shares pursuant to the requirements of relevant laws, regulations and related approvals of the CSRC and other regulatory authorities as well as the authorization of the Shareholders' general meeting of the Bank, and perform information disclosure obligation in a timely manner.

By order of the Board

Postal Savings Bank of China Co., Ltd.

Du Chunye

Joint Company Secretary

Beijing, PRC

March 11, 2021

As at the date of this announcement, the Board of the Bank comprises Mr. Zhang Jinliang as Chairman and Non-executive Director; Mr. Zhang Xuewen and Ms. Yao Hong as Executive Directors; Mr. Han Wenbo, Mr. Liu Yue and Mr. Ding Xiangming as Non-executive Directors; Mr. Fu Tingmei, Mr. Wen Tiejun, Mr. Chung Shui Ming Timpson, Mr. Hu Xiang and Ms. Pan Yingli as Independent Non-executive Directors.

*Postal Savings Bank of China 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 and/or deposit-taking business in Hong Kong.