Results announcement for the year ended 31 december 2021

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ʕ਷͏͛ვБٰ΅Ϟࠢʮ̡

CHINA MINSHENG BANKING CORP., LTD.

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

(Stock Code: 01988)

RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

The Board of Directors (the "Board") of China Minsheng Banking Corp., Ltd. (the "Company") hereby announces the audited results of the Company and its subsidiaries for the year ended 31 December 2021. This announcement, containing the full text of the 2021 Annual Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "SEHK") in relation to information to accompany preliminary announcements of annual results.

Publication of Annual Results Announcement and Annual Report

This results announcement will be published on the HKEXnews website of SEHK (www.hkexnews. hk) and the Company's website (www.cmbc.com.cn). This results announcement is prepared in Chinese and English, respectively. Should there be any discrepancies between the two versions, the Chinese version shall prevail.

The 2021 Annual Report of the Company will be dispatched to holders of H shares of the Company and published on the websites of the Company and SEHK in due course.

Profit Distribution

On 29 March 2022, the 19th meeting of the eighth session of the Board of the Company approved the profit distribution plan to declare to holders of A shares and H shares whose names appear on the registers as at the record dates as indicated in the notice of 2021 annual general meeting of the Company to be published by the Company in due course, a cash dividend of RMB2.13 (tax inclusive) for every 10 shares being held. The above profit distribution plan is subject to the approval of the 2021 annual general meeting of the Company. The cash dividend is expected to be paid to holders of H shares on 20 July 2022. Notice of 2021 annual general meeting of the Company will announce the date of the 2021 annual general meeting of the Company and details of its book closure, as well as the arrangement of book closure for profit distribution.

By Order of the Board

CHINA MINSHENG BANKING CORP., LTD.

Gao Yingxin

Chairman

Beijing, PRC

29 March 2022

As at the date of this announcement, the Executive Directors of the Company are Mr. Gao Yingxin, Mr. Zheng Wanchun and Mr. Yuan Guijun; the Non-Executive Directors are Mr. Zhang Hongwei, Mr. Lu Zhiqiang, Mr. Liu Yonghao, Mr. Shi Yuzhu, Mr. Wu Di, Mr. Song Chunfeng, Mr. Yang Xiaoling and Mr. Zhao Peng; and the Independent Non-Executive Directors are Mr. Liu Jipeng, Mr. Li Hancheng, Mr. Xie Zhichun, Mr. Peng Xuefeng, Mr. Liu Ningyu and Mr. Qu Xinjiu.

IMPORTANT NOTICE

The Board of Directors, the Board of Supervisors, and the Directors, Supervisors and Senior Management of the Bank warrant the truthfulness, accuracy and completeness of the contents of this Annual Report and there are no misstatements, misleading representations or material omissions in this Annual Report, and shall assume several and joint liability.

This Annual Report was considered and approved on 29 March 2022 at the 19th meeting of the eighth session of the Board of Directors of the Bank. Of the 18 Directors who were entitled to attend the meeting, 6 Directors attended the meeting in person. 12 Directors, being the Vice Chairmen ZHANG Hongwei, LU Zhiqiang and LIU Yonghao, and Directors SHI Yuzhu, WU Di, SONG Chunfeng, WENG Zhenjie, YANG Xiaoling, ZHAO Peng, XIE Zhichun, PENG Xuefeng, and QU Xinjiu, participated in the meeting by teleconference or video conference. Of the 9 Supervisors who were entitled to attend the meeting as non-voting delegates, 9 Supervisors attended the meeting as non-voting delegates.

PricewaterhouseCoopers Zhong Tian LLP and PricewaterhouseCoopers, auditors of the Bank, have audited the financial reports of 2021 prepared in accordance with the Chinese Accounting Standards ("CAS") and the International Financial Reporting Standards ("IFRSs"), respectively, and issued standard and unqualified auditors' reports, respectively.

GAO Yingxin (Chairman), ZHENG Wanchun (President), LI Bin (person in charge of finance and accounting), and YIN Xuwen (person in charge of the accounting department) warrant the truthfulness, accuracy and completeness of the financial reports included in this Annual Report.

The profit distribution plan for 2021 was approved by the Board of Directors, pursuant to which, a cash dividend of RMB2.13 (tax inclusive) will be distributed to all shareholders of the Bank for every 10 shares held on the record dates. The above profit distribution plan is subject to approval by the Shareholders' General Meeting of the Bank.

The financial data and indicators contained in this Annual Report are prepared according to the rules of the IFRS. Unless otherwise specified, all amounts are the consolidated data of the Group and denominated in RMB.

The forward-looking statements about matters such as future plans in this Annual Report do not constitute substantive commitments of the Bank to the investors, and the investors and related persons shall maintain sufficient risk awareness in this regard, and shall understand the difference among plans, forecasts and commitments.

Material Risk Warning: the Bank has no foreseeable material risks. For potential risks, please refer to the section headed "XIII. Prospects - (II) Potential risks" under "Chapter 3 Management Discussion and Analysis" of this Report.

CONTENTS

Important Notice 1

Contents 2

Definitions 3

Message from Chairman 4

Message from President 8

Development Strategies and Core Competitiveness of the Bank 12

Annual Awards 22

DEFINITIONS

In this report, unless the context otherwise requires, the following terms shall have the meanings set out below.

MESSAGE FROM CHAIRMAN

Another year has passed. Everything takes on a new look. Looking back on 2021, facing the profound changes unseen in a century, and the fluctuated COVID-19 pandemic, China's economy has shown its resilience, made great stride in overcoming difficulties, and entered a new stage of high-quality development. Always in line with the Chinese economy, China Minsheng Bank forged ahead with one heart against pressure, and overcame difficulties with perseverance, maintaining a good momentum of steady progress and quality improvement.

In 2021, the Group recorded an operating income of RMB165.6 billion and a net profit attributable to holders of equity shares of the Bank of RMB34.4 billion. As at the end of 2021, total assets and the equity attributable to holders of equity shares of the Bank amounted to RMB6.95 trillion and RMB574.3 billion, net assets per share attributable to holders of ordinary shares of the Bank was RMB11.06, representing an increase of RMB0.56, as compared with the end of the previous year.

In 2021, we actively adapted to internal and external changes and developed the Five-Year Development Plan of China Minsheng Bank (2021-2025) ( ʕ਷͏͛ვБʞϋ೯࢝஝ྌ(2021-2025) '). By focusing on the strategic positioning of "a bank for the non-state-owned enterprises (NSOEs), an agile and open bank, and a bank with considerate services", we strove to become the best bank serving the NSOEs, build an eco-bank, accelerate the construction of a smart bank, optimise basic products and services, strengthen efforts to provide sincere and considerate services, create value and grow together with our customers. We faced up to difficulties and strengthened our confidence. Focusing on the three major tasks of "serving the real economy, preventing and controlling financial risks, and deepening financial reform", we took the initiative to make structural adjustment and optimisation, which might bring some pressure on business performance in a short term perspective, but will contribute to a more steady and sustainable development in a long run.

We deeply understand that as one of the systemically important banks in China, we must shoulder greater responsibilities and missions. We resolutely returned to the business basics, proactively integrated into the national strategies, and continuously enhanced the accuracy and effectiveness in serving the real economy. In 2021, domestic RMB loans of the Bank focused on inclusive finance, NSOEs and green finance, etc. The balance of inclusive small business loans exceeded RMB500 billion, representing an increase of nearly 13% as compared with the end of the previous year. The balance of mid- to long-term loans to the manufacturing industry increased by nearly 14%, and the proportions of loans related to agriculture, rural areas and farmers and green credit steadily increased. We continuously enhanced the business deployment in the key areas such as Guangdong-Hong Kong-Macau Greater Bay Area, Yangtze River Delta, Beijing-Tianjin-Hebei and Chengdu-Chongqing, where we made innovations and reforms on step ahead of in other areas, and improved the capability of comprehensive services of the Bank. We earnestly implemented the national policy of lowering fees and surcharges by strictly complying with regulatory requirements and substantially reducing non-standard investments, and promoted the return of business to its origin. The daily average scale of trust and asset management plans, wealth management products and other non-standard investments decreased by RMB245.9 billion as compared with the corresponding period of the previous year, which affected the business income.

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