In the first quarter of 2015，Ping An Bank (PAB) maintained stable business

growth, accelerated loan balances, steadily increased profitability, further

promoted the professionalism and intensification of operations, properly

launched the innovative businesses such as the industry fund and asset

securitization, and gradually deepened the operational strategy of

transformation and innovation. At the same time, under the impact of

economic decline and interest rate marketization, the bank industry still

faced a number of challenges such as the deceleration of growth,

acceleration of risks and shrinking of profitability.

1

Summary

Contents

I. Results Overview

• 1.Growth in Scale

• 2.Income Statement

• 3.Quality and Efficiency

• 4. Monitoring Indicators

II. Performance Highlights

III. Business Outlook

2

1. Growth in Scale

3

(In RMB 100 million) 31 Mar 2015 31 Dec 2014

YTD

Change Change %

Total Assets 23,048 21,865 1,183 5.41%

Including: Loans and Advances 11,242 10,247 995 9.70%

Including: Corporate Loans 7,253 6,397 856 13.38%

Retail Loans 2,902 2,821 81 2.89%

Credit Cards 1,086 1,029 57 5.56%

Total Liabilities 21,681 20,556 1,125 5.48%

Including: General Deposits 15,784 15,332 452 2.95%

Including: Corporate Deposits 13,104 12,804 300 2.34%

Retail Deposits 2,680 2,528 152 6.03%

Shareholders’ Equity 1,367 1,309 58 4.39%

2. Income Statement

(In RMB 100 million) Jan - Mar

2015

Jan - Mar

2014

YoY

Change Change %

Operating Income 206.71 161.00 45.71 28.39%

Net Interest Income 151.44 115.50 35.94 31.12%

Net Non-interest Income 55.27 45.50 9.77 21.47%

Including: Net Fee Income 53.87 32.07 21.80 67.98%

Expenses 84.73 73.21 11.52 15.74%

Operating Fees 69.01 60.62 8.39 13.84%

Operating Profit Before Provisions 121.98 87.79 34.19 38.95%

Asset Impairment Loss 47.51 20.67 26.84 129.85%

Net Profit 56.29 50.54 5.75 11.38%

EPS (RMB) 0.41 0.37 0.04 10.81%

4

3. Quality and Efficiency

5

(In RMB 100 million) 31 Mar 2015 31 Dec 2014 YTD

Asset Quality

NPL Balance 131.98 105.01 25.68%

NPL Ratio 1.17% 1.02% +0.15 pp

Provision to Loan Ratio 2.03% 2.06% -0.03 pp

Provision Coverage Ratio 173.17% 200.90% - 27.73 pps

Jan - Mar

2015

Jan - Mar

2014 YoY

Return on Assets

Annualized Average Return on Total Assets 1.00% 1.01% -0.01 pp

Annualized Weighted Average Return on Equity 15.83% 16.54% -0.71 pp

Deposit-Loan Spread 5.01% 5.11% -0.10 pp

Net Interest Spread 2.57% 2.23% +0.34 pp

Net Interest Margin 2.73% 2.42% +0.31 pp

Cost/Income Ratio (Excluding Business Tax) 33.38% 37.65% -4.27 pps

4. Monitoring Indicators

(%) Benchmark 31 Mar 2015 31 Dec 2014

Liquidity Indicator

Loan-to-Deposit Ratio（including Discounted

Bills, RMB & Foreign Currency） ≤75 69.77 65.39

Liquidity Ratio（RMB & Foreign Currency） ≥25 57.99 53.21

Liquidity Coverage Ratio ≥60 88.55 80.25

Capital Adequacy

Capital Adequacy Ratio ≥10.5 10.56 10.86

Tier 1 Capital Adequacy Ratio ≥8.5 8.53 8.64

Core Tier 1 Capital Adequacy Ratio ≥7.5 8.53 8.64

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Contents

I. Results Overview

II. Performance Highlights

• 1. Stable Growth in Deposits

• 2. Fast-growing Loans Growth

• 3. Steady Increase in Profitability

• 4. Fully-improved Efficiency

• 5. Accelerating Transformation and Innovation

• 6. Strengthening Development Basis

III. Business Outlook

7

11,418

14,147

15,869

2013 2014 Jan - Mar 2015

1. Stable Growth in Deposits

•General deposits: The Bank maintained steady deposit growth amid general weak growth in deposits of financial institutions. General deposit balance of the Bank was RMB 1,578.4 bn as of the end of 1Q2015, up by 2.95% YTD, taking a leading place in the market.

•Deposits from non-deposit financial institutions: The deposit balance of non-deposit financial institutions increased by 22.51% or RMB 51.1 bn YTD, of which the growth rate of demand deposits accounted for 32%.

Stable Growth in Total Deposits

•Average daily deposits: Average daily deposit balance was RMB 1,586.9 bn, up by RMB 172.2 bn from the previous year. The deposit base was thus further solidified.

•Controllable deposit costs: In a macro environment under the impact of interest rate marketization and internet finance, the cost of deposit was stable on a QoQ basis.

Good Quality Growth

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General Deposit Balance (In RMB 100 million)

Average Daily Deposit Growth

(In RMB 100 million)

+24%

+12%

(In RMB 100 mn)

31Mar 2015 31 Dec 2014

YTD

Change Change %

Corporate

Deposits 13,104 12,804 300 2.34%

Retail

Deposits 2,680 2,528 152 6.03%

General

Deposits 15,784 15,332 452 2.95%

2. Fast-growing Loans Growth

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In 2015, under the shrinking of market demands, PAB supported the development of the real economy. Early

in the year, the Bank decided to adjust the asset structure and improve the proportion of loans, and the loan

growth stayed ahead of the market.

• Fast-growing loan growth: In the first quarter, the Bank accelerated the disbursement of loans, the loans

and advances amounted to RMB 1,124.2 bn, i.e. an increase of 9.70% or RMB 99.4 bn YTD, and doubled the

quarterly growth of 1Q2014, taking a leading role in the industry.

• Optimization of asset structure: As of the end of the first quarter, the proportion of loans of the Bank was

48.8%, up by 1.9 pps YTD.

Loans and Advances (In RMB 100 million)

10,247

11,242

2014 1Q2015

7.66%

7.78%

2014 1Q2015

Yield on Average Daily Loans and Advances (excluding discounted bills)

+10%

+12bp

3. Steady Increase in Profitability

10

161

51

207

56

Operating Income Net Profit

1Q2014 1Q2015

Operating Income and Net Profit Growth (In RMB 100 million)

Non-interest Income and Percentage (In RMB 100 million)

32

54

19.92%

26.06%

0%

10%

20%

30%

0

25

50

75

100

1Q2014 1Q2015

+28%

+11%

•Historical Comparison: In 1Q2015, the operating income was RMB 20.7 bn, up by 28% YoY; profit before provisions was RMB 12.2 bn, up by 39% YoY; asset impairment loss was RMB 4.8 bn, up by 130% YoY; net profit was RMB 5.6 bn, up by 11% YoY.

•Market Comparison: Under the impact of economic decline, policy adjustment and increase of risks, the banking industry faced greater pressure in operation. And PAB still maintained double-digit growth rates in profitability amid such environment.

Steady Rise in Earnings Indicators

•Growth: Benefited by the rapid growth of businesses such as investment-banking, custody, wealth management and settlement, realizing net fee and commission income amounted to RMB 5.4 bn, up by 68% YoY, and continued to maintain good growing trend.

•Percentage of total: Net fee and commission income as a percentage of the total rose to 26.06%, up by 6.14 pps YoY.

Good Growth in Fee Income

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Deposit-Loan Spread

5.11%

5.01% 5.01%

Jan-Mar 2014 2014 Jan-Mar 2015

2.23%

2.40%

2.57%

Jan-Mar 2014 2014 Jan-Mar 2015

NIS NIM

2.42%

2.57%

2.73%

Jan-Mar 2014 2014 Jan-Mar 2015

+34bp

+31bp

• Obvious Increase in efficiency: Since 2013, the Bank has maintained fast growth and continued to optimize its cost-to-

income ratio. The Bank’s cost-to-income ratio was 33.38% in 1Q2015, declined 4.27 pps YoY and significantly

optimized by 7.39 pps compared with that of 2013.

• Expanding spreads: After the Central Bank cut the interest-rate twice and the upward floating margin of deposit interest

rates increased, the Bank continued to reinforce risk pricing management, enhanced the efficiency of credit resources,

improved loan structure so as to increase the yield of loans. At the same time, the Bank enhanced the adjustment of

asset and liability structure so as to increase the proportion of the basic business of the Bank in both assets and

liabilities. Compared with the year of 2014, the Bank maintained deposit-loan spread and increased in net interest spread

and net interest margin in 1Q2015.

4. Fully-improved Efficiency

5. Accelerating Transformation and Innovation

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• Industry funds are proved to be the best method for the Bank to actively coping with financial policy reforms, broadening income sources, and promoting integrated finance advantage.

• In 1Q2015, the Bank focused on potential strategic clients and programs, enriched cooperation mode with government, promoted business, and achieved periodical success.

Industry Funds

• In Feb 2015, the Bank first launched corporate credit assets securitization in inter-bank bond market, which expanded the basic asset category and also sped up the pace in innovation.

Asset Securitization

• Orange-e-Platform: As of the end of March, the number of registered clients reached nearly 300,000, up by 35% YTD, achieving the objective of fast client establishment.

• Hang-E-Tong: The total number of clients increased 20 to nearly 350 from beginning of the year; more than 70 the third party depository partners were online; percentage of online WM sales rose continuously.

• Gold Bank: The Bank actively promoted, researched and developed innovative businesses such as gold industry fund, physical gold deposit and successfully launched the gold WM products; participated in gold futures transactions and innovative hedge fund models of deferred transaction on behalf of clients.

• Pocket Bank: The clients reached 6.39 mn, up by 18 % YTD. The ‘smart voice’ function was introduced for the first time in the industry.

Platform Innovation

• Corporate cross-selling: Average daily corporate deposits referred by Ping An P&C and Ping An Annuity

amounted to RMB 10.6 bn, up by 34% YoY, realized net income RMB 75 mn. 17 new cooperation projects

between PAB and Ping An investment subsidiaries were implemented, with investments and financing totaling RMB 16.2 bn. Average daily deposit balance was RMB 16.4 bn, net operating income was RMB 0.22 bn.

• Retail cross-selling: Assets of clients from cross-selling increased by RMB 16.7 bn YTD, and wealth management clients has increased 7,757; 36% of newly issued credit card was from cross-selling channels; realized income from group insurance agencies was RMB 128 mn. There were 81,300 clients newly signed under the third party depository business in co-operation with Ping An Securities.

Integrated Finance

The Bank seized the opportunity of State economic reform and the adjustment of industry structure to promote innovative businesses such as the industry funds, asset securitization and explored new points of growth; launched innovative internet service platforms which gradually gained momentum in the market; and also deepened integrated financial co-operations to achieve good progress in significant strategic projects.

•Industry BUs: Speed up the industry BUs layout progress for the logistics, agriculture, medicals, cultures and other new sunrise industries and developed new emerging market; As of the end of the first quarter, BUs deposit balance amounted to RMB 185.4 bn and loan balance amounted to RMB 197.3 bn, and the realized operating income amounted to RMB 2.7 bn.

•Professionalized operation: In 1Q2015 , after successfully completed the professionalized operation for Inter-Bank Proprietary Trading BU and Asset Management BU, two specialized organizations of Capital Operation Center and Credit Card Center were newly added.

Implement BUs Layout

•On 16 March 2015, the Bank’s application for the non-public issue of A Share has granted approval by the CSRC, which will enhance the capital adequacy ratio in the Bank , strengthen the capacity of risk countering and promote the fast and healthy development of business.

Promote Capital Replenishment

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6. Strengthening Development Basis

Speeding up the industry business unit layout progress for the logistics, agriculture, medicals, cultures and other

new sunrise industries, exploring new emerging market; Non-Public Offerings has granted approval, which will

provide capital support for the business development.

Contents

I. Results Overview

II. Performance Highlights

III. Business Outlook

14

Business Outlook

15

Reinforce business basis, accelerate deposit growth in full strength

Optimize asset structure, continue to accelerate loan disbursement

Seize market opportunities, explore new source of profit growth

Deepen operating features, cultivate strength for long-term growth

Reinforce market research, enhance the power of pricing

Control risks strictly, step up the efforts to resolve the problem of asset quality