Postal Savings Bank of China : ANNOUNCEMENT ON THE RETIREMENT OF DIRECTORS

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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 THE RETIREMENT OF DIRECTORS

The Board of Directors (the "Board") of Postal Savings Bank of China Co., Ltd. (the "Bank") hereby announces that, due to the expiration of his term of office, Mr. Ma Weihua ceased to serve as Independent Non-executive Director of the Bank, member of the Strategic Planning Committee, chairman and member of the Related Party Transactions Control Committee and member of the Audit Committee of the Board, with effect from January 1, 2020. Due to the expiration of her term of office, Ms. Bi Zhonghua ceased to serve as Independent Non-executive Director of the Bank, member of the Related Party Transactions Control Committee, chairman and member of the Audit Committee, member of the Nomination and Remuneration Committee and member of the Social Responsibility and Consumer Rights Protection Committee of the Board, with effect from January 1, 2020.

Mr. Ma Weihua and Ms. Bi Zhonghua have confirmed that they have no disagreement with the Board, and there are no matters in regard to their departure that need to be brought to the attention of the shareholders and creditors of the Bank.

The Board would like to express its sincere gratitude to Mr. Ma Weihua and Ms. Bi Zhonghua for their remarkable contributions to the Bank during their tenure.

By order of the Board

Postal Savings Bank of China Co., Ltd.

Du Chunye

Joint Company Secretary

Beijing, the PRC

January 1, 2020

As at the date of this announcement, the Board comprises Mr. Zhang Jinliang as Chairman and non-executive Director; Mr. Zhang Xuewen and Ms. Yao Hong as executive Directors; Mr. Han Wenbo, Mr. Tang Jian, Mr. Liu Yaogong, 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.