Announcement on the Remaining Number of GDRs

28 January 2021

CHINA PACIFIC INSURANCE (GROUP) CO., LTD.

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

Notice of the Remaining Number of GDRs Being Less Than 50% of the Issued GDRs

The board of directors of China Pacific Insurance (Group) Co., Ltd. (hereinafter referred to as "CPIC" or the "Company") hereby announces that, as of the market close of the London Stock Exchange on 27 January 2021, the remaining number of the Global Depositary Receipts issued by the Company (the "GDRs") is 54,757,180, which is less than 50% of the number of GDRs issued, being 111,668,291 GDRs as approved by the China Securities Regulatory Commission.

By Order of the Board of Directors

         China Pacific Insurance (Group) Co., Ltd.

KONG Qingwei

Chairman

About CPIC

CPIC is a joint stock company established under the laws of the People's Republic of China with limited liability.

CPIC's registered office is located at 1 South Zhongshan Road, Huangpu District, Shanghai, the People's Republic of China.