Zhejiang Expressway : VOLUNTARY ANNOUNCEMENT ON BUSINESS UPDATE

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

(Stock code: 0576)

VOLUNTARY ANNOUNCEMENT

ON BUSINESS UPDATE

This is a voluntary announcement made by Zhejiang Expressway Co., Ltd. (the "Company" and together with its subsidiaries, the "Group") to inform its shareholders of the latest business development of the Group.

The directors (the "Directors") of the Company are pleased to announce the key financial figures of our subsidiary, Zheshang Securities Co., Ltd., in 2017.

Set out below are the key financial figures of Zheshang Securities Co., Ltd. in 2017.

Unaudited, Rmb'000

As at

Year 2017 December 31, 2017 Income Net Profit Net Asset

Zheshang Securities1

4,586,279.6

1,062,697.7

13,497,359.3

1.

Zheshang Securities Co., Ltd., a 63.74% owned subsidiary of Zhejiang Shangsan Expressway Co.,

Ltd., who in turn is a 73.625% owned subsidiary of Zhejiang Expressway Co., Ltd.

On behalf of the Board Zhejiang Expressway Co., Ltd.

ZHAN Xiaozhang

Chairman

Hangzhou, the PRC, January 31, 2018

As at the date of this announcement, the executive directors of the Company are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive directors of the Company are: Mr. WANG Dongjie and Mr. DAI Benmeng; and the independent non-executive directors of the Company are: Mr. ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.