Postal Savings Bank of China : ANNOUNCEMENT ON RESIGNATION OF THE EXECUTIVE DIRECTOR AND PRESIDENT 2019-01-04

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POSTAL SAVINGS BANK OF CHINA CO., LTD.

中國郵政儲蓄銀行股份有限公司

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

(Stock Code: 1658)

(Stock Code of Preference Shares: 4612)

ANNOUNCEMENT ON RESIGNATION OF THE EXECUTIVE DIRECTOR AND PRESIDENT

The Board of Directors (the "Board") of Postal Savings Bank of China Co., Ltd. (the "Bank") received the resignation report from Mr. Lyu Jiajin. Mr. Lyu Jiajin resigned from his positions as Executive Director and President of the Bank, Chairman and member of Social Responsibility and Consumer Rights Protection Committee, member of Strategic Planning Committee, member of Risk Management Committee, member of Nomination and Remuneration Committee of the Board, as well as his duties on behalf of the Chairman, Chairman of Strategic Planning Committee of the Board, and the legal representative due to change of job, with effect from 4 January 2019.

Mr. Lyu Jiajin has confirmed that he has no disagreement with the Board of the Bank, and there are no matters in regard to his resignation that need to be brought to the attention of the shareholders and creditors of the Bank.

Mr. Lyu Jiajin stated that he was honored and proud to have worked for the postal savings business and grown with the Bank since the beginning of his career. He also expressed his sincere gratitude for the support from the shareholders, directors, supervisors, management and employees of the Bank, and that he was pleased to see the Bank's achievements throughout its reform and development. Mr. Lyu Jiajin wishes the Bank a more prosperous future.

During his 30 years of devotion to the postal savings business, especially his 12 years of engagement with the Bank, working as President for six years, Mr. Lyu Jiajin put work first and focused on the Bank's development. He led the management in a concerted endeavor to earnestly implement the government's decisions and deployments on economic and financial tasks. He fulfilled his duties faithfully and diligently, and led ahead with a pioneering spirit. He guided the Bank in developing inclusive finance and focused on transformation and innovation with the aim to improve the Bank's risk control system and its comprehensive strength. From the Bank's establishment to the completion of the three-step reform (namely joint stock reform, introduction of strategic investors and initial public offering), Mr. Lyu Jiajin showed commitment and dedication, spent immense effort and made remarkable contributions along the way. The Board has a high opinion of Mr. Lyu Jiajin's work and contributions and expresses sincere gratitude to him.

Prior to the appointment of the new Chairman and the new President, pursuant to the articles of association of the Bank, as nominated by over half of the Directors, Mr. Zhang Xuewen (Executive Director, Vice President) was elected to perform the duties on behalf of the Chairman, President, Chairman of the Strategic Planning Committee of the Board, and the legal representative, while Ms. Yao Hong (Executive Director, Vice President) was elected to perform the duties on behalf of the Chairman of Social Responsibility and Consumer Rights Protection Committee, immediately after the departure of Mr. Lyu Jiajin, with effect from 4 January 2019.

The Bank will inform the shareholders of the Bank by another announcement in regard to the appointment of the new Chairman and the new President.

By order of the Board

Postal Savings Bank of China Co., Ltd.

Du Chunye

Joint Company Secretary

Beijing, the PRC

January 4, 2019

As at the date of this announcement, the Board comprises Mr. Zhang Xuewen and Ms. Yao Hong as executive Directors; Mr. Han Wenbo, Mr. Tang Jian, Mr. Liu Yaogong, Mr. Chin Hung I David, Mr. Liu Yue and Mr. Ding Xiangming as non-executive Directors; Mr. Ma Weihua, Ms. Bi Zhonghua, Mr. Fu Tingmei, Mr. Gan Peizhong and Mr. Hu Xiang 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.