New China Life Insurance : Annual Report 2016

New China Life Insurance Company Ltd.

新華人壽保險股份有限公司

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

Stock Code: 01336

Annual Report

2016

1. The board of directors, the board of supervisors and the directors, supervisors, and members of senior management of the Company guarantee the correctness, accuracy and completeness of the contents of this report, and that there is no false representation, misleading statement or material omission in this report, and are legally liable for this report jointly and severally.

2. The 2016 Annual Report of the Company was considered and approved at the tenth meeting of the sixth session of the Board of the Company on 29 March 2017, which 12 directors were required to attend and 10 of them attended in person. Director HU Aimin authorized director WU Kunzong, independent non-executive director NEOH Anthony Francis authorized independent non- executive director CHENG Lie to attend the meeting and vote on behalf of them.

3. The Company plans to distribute an annual dividend of RMB0.48 (tax included) per share to all of H shareholders and A shareholders for 2016, being approximately RMB1,497 million in total, representing approximately 30.3% of the net profit attributable to the shareholders of the Company as contained in the 2016 financial statements of the Company, which meets the minimum percentage requirement of cash distribution as stipulated in the Articles of Association. The above dividend distribution plan is subject to the approval of the shareholders at the general meeting.

4. Ernst & Young conducted the audit on the 2016 consolidated financial statements of the Company in accordance with the International Standards on Auditing and issued the standard unqualified audit report.

5. Mr. WAN Feng, the Chairman of the Company, Mr. YANG Zheng, the Chief Financial Officer and the person in charge of finance of the Company, Mr. GONG Xingfeng, the Chief Actuary of the Company and Ms. MENG Xia, the officer in charge of the Accounting Department of the Company guarantee the correctness, accuracy and completeness of the financial report in the 2016 Annual Report.

6. In addition to the facts stated herein, this report includes forward-looking statements and analysis, which may differ from the actual results of the Company in the future. The Company does not make any representation or warranty upon its future performance. Investors and other related parties shall have enough risk awareness and understand the difference among the plan, estimation and commitment.