Zhejiang Shibao : PROXY FORM FOR EXTRAORDINARY GENERAL MEETING

ZHEJIANG SHIBAO COMPANY LIMITED*

浙江世寶股份有限公司

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

(Stock Code: 1057)

PROXY FORM FOR EXTRAORDINARY GENERAL MEETING

I/We (Note 1)

Zhejiang Shibao Company Limited* (the ''Company'') HEREBY APPOINT (Note 5) THE CHAIRMAN OF THE MEETING

) as my/our proxy to attend and act for me/us at the 2020 First Extraordinary General Meeting of the Company (''EGM'') to be held at the conference room of the Company at 3rd Floor of Office Building No. 6, 17th Avenue, Hangzhou Economic and Technological Development Zone, Hangzhou, Zhejiang Province, China at 2 : 00 p.m. on 13 January 2020 (Monday) and to vote for me/us at such meeting in respect of the resolutions set out in the notice of the EGM in the manners as hereunder indicated, or if no such indication is given, as my/our proxy thinks fit. Unless otherwise indicated, capitalised terms defined in the circular of the Company dated 21 November 2019 shall have the same meanings when used herein.

1. To consider and approve the resolution in relation to the termination of some investment projects financed by proceeds from private placement and use relevant proceeds from private placement to permanently replenish the working capital. (ordinary resolution)
2. To consider and approve the resolution in relation to the amendments to the existing Articles of Association of the Company as set out in the notice of the EGM. (special resolution)
3. To consider and approve the resolution in relation to the waiver of share lock-up undertakings of the Actual Controllers of the Company. (ordinary resolution)

Notes:

1. Please insert full name(s) in block capitals.
2. Please insert address(es) in block capitals.
3. Please insert the number of shares in the Company registered in your name(s) and to which the proxy relates. If no such number is inserted, this proxy form will be deemed to relate to all the shares in the Company registered in your name(s).
4. Delete the type of shares which is not applicable.
5. If any proxy other than the Chairman of the Meeting is preferred, strike out ''THE CHAIRMAN OF THE MEETING or'' and insert the name and address of the proxy desired in the space provided. Each shareholder is entitled to appoint one or more proxies to attend and vote at the EGM. The proxy need not be a shareholder of the Company. Any alteration made to this proxy form must be signed by the person who signs it.
6. Important: If you wish to vote for any resolution, place a ''X'' in the box marked ''For''. If you wish to abstain from voting on any resolution, place a ''X'' in the box marked ''Abstain''. If you wish to vote against any resolution, place a ''X'' in the box marked ''Against''. Failure to complete the box will entitle your proxy to vote on your behalf at his discretion.
7. This proxy form must be signed by you or your attorney duly authorised in writing or, in the case of a legal person, either under the common seal or under the hand of its legal representative (applicable to A Shareholders)/its director (applicable to H Shareholders) or attorney duly authorised in writing.
8. To be valid, this proxy form (if this proxy form is signed by your attorney duly authorised in writing, together with a notarially certified copy of the power of attorney or other instrument of authority pursuant to which this proxy form is signed) must be delivered to the Company's Hong Kong office at Room 1204, C C Wu Building, 302-308 Hennessy Road, Wanchai, Hong Kong, not less than 24 hours before the time appointed for holding the EGM. Completion and return of the proxy form will not affect your rights to attend and vote at the EGM.
9. Proxies of the A Shareholders shall bring along stock account cards of their appointing shareholders, the duly completed and signed proxy form and the proxies' identity cards to attend the EGM. Proxies of the H Shareholders shall bring along the duly completed and signed proxy form and the proxies' identity cards or passports to attend the EGM.
10. This proxy form should be completed in duplicate. One copy should be delivered to the Company in accordance with Note 8; the other should be produced by the proxy at the EGM in accordance with Note 9.

• For identification purpose only