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The responsibility of board of directors of Postal Savings Bank of China Co., Ltd. (the “Bank”)

Date: 2016-09-23

The Board shall perform the following duties and powers:

(1) to convene and report its performance at the shareholders’ general meetings;

(2) to implement resolutions adopted at the shareholders’ general meetings;

(3) to make decisions on the Bank’s development strategies, business plans and investment plans;

(4) to consider and approve capital fund management plans and risk-based capital allocation plans of the Bank;

(5) to formulate the Bank’s annual financial budgets and final accounts; the Bank’s profit distribution plans and loss recovery plans; proposals on the increase or reduction of the Bank’s registered capital; the Bank’s plans of issuance of bonds or other marketable securities and listing plans; plans for merger, division, dissolution, liquidation or other changes in corporate form of the Bank; plans for repurchase of the Bank’s shares; plans for material change in equity interest or financial reorganization; capital replenishment plans;

(6) to determine the basic management system, risk management and internal control policies of the Bank and supervise the implementation of the basic management system and policies; to consider and approve the internal audit rules of the Bank;

(7) to listen to the risk management report submitted by senior management and evaluate the effectiveness of risk management in the Bank in order to improve the Bank’s risk management work;

(8) to formulate proposals for amendments to the articles of association of the Bank, rules of procedures of shareholders’ general meeting and rules of procedures of the Board meetings;

(9) to consider and approve the terms of reference of the president submitted by the president;

(10) to decide on matters, including the establishment of major legal entities of the Bank, major corporate mergers and acquisitions, major external investments, major asset acquisitions, major asset disposals, major asset write-offs and major external guarantees within the scope authorized by the shareholders’ general meeting;

(11) to decide on or authorize the president to decide on matters within the terms of reference of the Board, including other external investments of the Bank, asset acquisitions, asset disposals, asset write-offs and external guarantees;

(12) to appoint and dismiss the president and the secretary to the Board according to the nomination from the chairman of the Board;

(13) to appoint and dismiss the vice president and other senior management personnel according to the nomination of the president;

(14) to elect the chairman and members of the Nomination and Remuneration Committee proposed by Requesting Shareholders, the chairman of the Board, and one-third or more of directors or half or more (at least two (2)) of independent directors; to elect the chairman and members of other Board committees (excluding the chairman of Strategic Planning Committee) proposed by the Nomination and Remuneration Committee;

(15) to formulate the performance appraisal system for directors and remuneration packages for directors and supervisors (opinions of the Board of Supervisors on the remuneration packages for supervisors shall be sought) for submission to the shareholders’ general meeting for approval;

(16) to decide on the remuneration, performance appraisal, incentive and punishment of senior management personnel;

(17) to decide on the establishment of internal departments, tier-one domestic and overseas branches, other branches and divisions directly under the head office and any overseas entities of the Bank;

(18) to evaluate and improve the Bank’s corporate governance regularly;

(19) to formulate stock incentive plans;

(20) to manage the Bank’s information disclosure;

(21) to propose the appointment, dismissal and discontinuance of engagement of accounting firm for approval by the shareholders’ general meeting;

(22) to consider and approve the proposals submitted by each Board committee;

(23) to consider and approve or to authorize the Related Party Transactions Control Committee of the Board to approve related party transactions (other than those which shall be considered and approved by the shareholders’ general meeting as required by laws), and report to the shareholders’ general meeting on the implementation status of related party transactions management systems and particulars of related party transactions;

(24) to listen to the work reports of the president of the Bank in accordance with the relevant regulatory requirements to ensure that all directors are timely and fully informed of relevant information for the performance of their duties, and to examine the work of the senior management to monitor and ensure the effective performance of their management responsibilities;

(25) to consider execution and rectification of the regulatory suggestions from the banking regulatory authority of the State Council to the Bank;

(26) to perform other duties required by laws, administrative regulations, department rules and the articles of association of the Bank or authorized by the shareholders’ general meeting.