Investor Presentaiton

Opening of Mainland China's Financial Services Sector • Recent developments to further open up mainland China market to foreign financial institutions (FIS) - Acceleration of removal of foreign ownership restrictions: - Securities companies: from 2021 to December 1, 2020 - Fund management companies: from 2021 to April 1, 2020 - - Futures brokers: from 2021 to January 1, 2020 Life insurance companies: from 2021 to 2020 Removal of minimum total asset thresholds market-entry requirement for foreign FIS (banks, trust companies, and insurance brokerage companies) Morgan Lewis 16

View entire presentation