Shenzhen Expressway : Delay in Despatch of Circular

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)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement (the "Announcement") of Shenzhen Expressway Company Limited (the "Company") dated 10 January 2020 in relation to, among other things, the proposed Non-public issuance of H Shares and the subscription by the SZ International Subscribers. Unless otherwise stated, capitalised terms used herein shall have the same meanings as ascribed thereto in the Announcement.

As disclosed in the Announcement, the Company will despatch a circular (the "Circular") containing, among other things, (1) the resolution of the proposed Non-public issuance of H Shares under the Specific Mandate (including the grant of authority to the Board and its authorized person(s) to handle matters in relation to the Non-public issuance at their sole discretion); (2) the resolution of the subscription by the SZ International Subscribers; (3) letter from the Independent Board Committee to the Independent Shareholders; (4) letter from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders; and (5) notice of the EGM and the Class Meetings. As additional time is required for the preparation of the Circular, the date of despatch of the Circular is expected to be delayed to on or before 27 February 2020.

By Order of the Board

Gong Tao Tao

Joint Company Secretary

Shenzhen, PRC, 6 February 2020

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. WEN Liang (Executive Director), Ms. CHEN Yan (Non-executive Director), Mr. FAN Zhi Yong (Non-executive Director), Mr. CHEN Yuan Jun (Non-executive Director), Mr. CHEN Kai (Non-executive Director), Mr. CAI Shu Guang (Independent non-executive Director), Mr. WAN Siu Wah Wilson (Independent non-executive Director), Ms. CHEN Xiao Lu (Independent non-executive Director) and Mr. BAI Hua (Independent non-executive Director).

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