Shenzhen Expressway : Announcement - Resignation of Independent Non-executive Director and Nomination of Independent Non-executive Director Candidate

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)

ANNOUNCEMENT

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND NOMINATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR CANDIDATE

Resignation of Independent Non-executive Director

The board (the "Board") of directors (the "Directors") of Shenzhen Expressway Company Limited (the "Company") hereby announces that on 25 February 2021, Ms. Chen Xiao Lu ("Ms. Chen"), an independent non-executive Director (the "Independent Director") tendered her written resignation letter to the Company. Due to personal career reason, Ms. Chen has resigned as an Independent Director.

Since the resignation of Ms. Chen will result in the number of Independent Directors of the Company decrease to less than one-third of the members of the Board, in accordance with the relevant regulations of the Company Law of the People's Republic of China, the Guiding Opinion on Establishment of Independent Director Systems by Listed Companies (《關於在上 市公司建立獨立董事制度的指導意見》) and the articles of association of the Company, the resignation of Ms. Chen will take effect after a new Independent Director has been elected at the general meeting of the Company. During the period, Ms. Chen will continue to perform her duties as the Independent Director and her relevant duties in committees of the Board in accordance with relevant laws, regulations and the articles of association of the Company.

Ms. Chen has confirmed that she has no disagreement with the Board and the Supervisory Committee, and there is no other matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. The Company would like to take this opportunity to express its sincere gratitude and appreciation to Ms. Chen's contribution to the Company during her term of office.

Nomination of Independent Director Candidate

In the board meeting of the Company held on 25 February 2021, "The Proposal of the Nomination of Independent Director Candidate" was considered and approved. The candidates for the Independent Directors are finalised to be Mr. Miao Jun and Mr. Xu Hua Xiang, which will be proposed to the general meeting of the Company for consideration.

A circular containing, among others, the particulars of Mr. Miao Jun and Mr. Xu Hua Xiang, the candidates for the Independent Directors and the notice for convening the general meeting will be dispatch to the shareholders in due course.

By Order of the Board

Gong Tao Tao Joint Company Secretary

Shenzhen, the PRC, 25 February 2021

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. WANG Zeng Jin (Executive Director), Mr. WEN Liang (Executive Director), Mr. CHEN Zhi Sheng (Non-executive Director), Mr. DAI Jing Ming (Non-executive Director), Ms. LI Xiao Yan (Non-executive Director), Ms. CHEN Hai Shan (Non-executive Director), Ms. CHEN Xiao Lu (Independent non-executive Director), Mr. BAI Hua (Independent non-executive Director) and Mr. LI Fei Long (Independent non-executive Director).