China Pacific Insurance : CPIC 2021 Annual Results Announcement

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CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

(Stock Code: 02601)

Overseas Regulatory Announcement

This overseas regulatory announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The announcement is attached hereof for information purpose only.

By Order of the Board

China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

Hong Kong, 28 March 2022

As at the date of this announcement, the Executive Directors of the Company are Mr. KONG Qingwei and Mr. FU Fan; the Non-executive Directors are Mr. HUANG Dinan, Mr. WANG Tayu, Mr. WU Junhao, Mr. CHEN Ran, Mr. ZHOU Donghui, Ms. LIANG Hong, Ms. LU Qiaoling and Mr. John Robert DACEY; and the Independent Non-executive Directors are Ms. LIU Xiaodan, Mr. CHEN Jizhong, Ms. LAM Tyng Yih, Elizabeth, Mr. WOO Ka Biu, Jackson, and Mr. JIANG Xuping.

2021 Annual Results Announcement China Pacific Insurance (Group) Co., Ltd.

March 28, 2022

Disclaimer

• n These materials are for information purposes only and do not constitute or form part of an offer or invitation to sell or issue or the solicitation of an offer or invitation to buy or subscribe for securities of China Pacific Insurance (Group) Co., Ltd. (the "Company") or any holding company or any of its subsidiaries in any jurisdiction. No part of these materials shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

• n The information contained in these materials has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information and opinions contained in these materials are provided as of the date of the presentation, are subject to change without notice and will not be updated or otherwise revised to reflect any developments, which may occur after the date of the presentation. The Company nor any of its respective affiliates or any of its directors, officers, employees, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any information contained or presented in these materials or otherwise arising in connection with these materials.

• n These materials contain statements that reflect the Company's current beliefs and expectations about the future as of the respective dates indicated herein. These forward-looking statements are based on a number of assumptions about the Company's operations and factors beyond the Company's control and are subject to significant risks and uncertainties, and, accordingly, actual results may differ materially from these forward-looking statements. You should not place undue reliance on any forward-looking information. The Company assumes no obligations to update or otherwise revise these forward-looking statements for new information, events or circumstances that occur subsequent to such dates.

Overview

u The past year was a milestone in many ways for CPIC. The international political and economic landscape became increasingly complicated and challenging, with the world seeing profound changes intertwined with a once-in-a-century pandemic. China embarked on a new journey of development under the 14th Five-year Development Programme, maintaining socio-economic stability amid an upward trend. The insurance industry entered a critical stage of transformation, facing an uphill struggle in the reshaping of its value chain.

u In the face of increasing uncertainties of market conditions, we persisted in high-quality development, pressed ahead with reform, stabilised business fundamentals while deploying towards emerging high-potential areas, and achieved both stability and progress in our business operation.

Steady growth of overall business results

Group Number 3) of Customers

168.39mn +19.45mn

Note: 1) Based on PRC GAAP.

Group Assets under

2) Attributable to shareholders of the parent.

3) Figures for the same period of the previous year have been restated.

Group Comprehensive Solvency Margin Ratio

266% -22pt