Huishang Bank : PROPOSED ELECTION OF AN ADDITIONAL NON-EXECUTIVE DIRECTOR

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Huishang Bank Corporation Limited* ᏏਠვБٰ΅Ϟࠢʮ̡*

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

(Stock Code: 3698 and 4608 (Preference shares))

PROPOSED ELECTION OF AN ADDITIONAL

NON-EXECUTIVE DIRECTOR

The board of directors (the "Board") of Huishang Bank Corporation Limited (the "Bank") held a meeting on 26 March, 2021 and passed a resolution on the proposed election of Mr. Ma Lingxiao ("Mr. Ma") as an additional non-executive director of the fourth session of the Board of the Bank at the shareholders' general meeting of the Bank.

Biographical details of Mr. Ma are set out below:

Mr. Ma Lingxiao, born in July 1978, holds a doctorate degree in economics from Xi'an Jiaotong University and possesses the professional and technical qualifications of associate researcher. He is currently the deputy director of the early correction department of Deposit Insurance Fund Management Co., Ltd€. πಛڭᎈਿږ၍ଣϞࠢப΂ʮ̡. He was formerly the section chief of the financial stabilization division, the director of the financial research division, the section chief, and the deputy researcher of the deposit insurance division of the operation management office of the People's Bank of China.

The resolution to elect Mr. Ma as a non-executive director of the Bank will be submitted to the 2020 annual general meeting of the Bank (the "AGM") for consideration. Upon the passing of the resolution, his qualification is subject to the approval of China Banking and Insurance Regulatory Commission Anhui Office (the "CBIRC Anhui Office").

Mr. Ma will enter into a director's service agreement with the Bank. His term of office as a director is the same as that of the fourth session of the Board, which will commence from the date upon which his qualification as director is approved by the CBIRC Anhui Office and will end on the expiry date of the term of office of the fourth session of the Board. Mr. Ma, as a non-executive director of the Bank, will not receive any salary from the Bank.

To the knowledge of the Board and save as disclosed above, Mr. Ma did not hold any directorship in any listed companies other than the Bank, nor did he hold any position in any subsidiary of the Bank in the past three years. He does not have any relationship with any other director, supervisor, senior management or substantial shareholder of the Bank. As at the date of this announcement, Mr. Ma does not have any interests in the shares of the Bank or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed above, there is nothing in relation to the appointment of Mr. Ma that is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor, are there any other matters that need to be brought to the attention of the shareholders of the Bank.

The Bank will dispatch a circular and notice of the shareholders' general meeting containing, among other things, details of the resolution on the election of Mr. Ma Lingxiao as an additional non-executive director of the Bank to the shareholders in due course.

By order of the Board Huishang Bank Corporation Limited*

Wu Xuemin

Chairman

Hefei, Anhui Province, China

26 March, 2021

As at the date of this announcement, the Board comprises Wu Xuemin and Zhang Renfu as executive directors; Zhu Yicun, Wu Tian, Yan Chen, Qian Dongsheng, Gao Yang, Wang Wenjin and Zhao Zongren as non-executive directors; Dai Peikun, Zhou Yana, Liu Zhiqiang, Yin Jianfeng and Huang Aiming as independent non-executive directors.

*Huishang Bank Corporation Limited is not an authorized institution within the meaning of the Hong Kong 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/deposit-taking business in Hong Kong.