FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260805E00567 
1. Date of relevant event: 31/07/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):
(dd/mm/yyyy)
3. Stock code: 02328
4. Name of listed corporation: PICC Property and Casualty Co. Ltd. - H Shares 
5. Class of shares: H Shares 
6. Number of issued shares in class: 6,899,293,833
7. Name of substantial shareholder: Citigroup Inc. 
8. Registered office: 388 Greenwich Street, New York, 10013, USA
9. Principal place of business in Hong Kong: 50/F, Champion Tower, 3 Garden Road, Central, Hong Kong 
15. Exchange on which listed: NYSE
16. Name of listed parent and exchange on which parent is listed:  
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
12043The percentage level of your interest in the shares has reduced because:
expiry or cancellation without exercise of equity derivatives under which (choose one):
you had a right to receive from another person an amount if the price of the underlying shares was above a certain level
2201Interest of corporation controlled by you
2,734,775 HKD
Short position 
 
 
 		            
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position483,067,3347.00
Short position87,147,7891.26
Lending Pool462,510,9526.70
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position480,332,5596.96
Short position86,966,2701.26
Lending Pool464,038,5526.72
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2201Interest of corporation controlled by you
Long position16,294,007
Short position86,966,270
2502Approved lending agent
Long position464,038,552
Short position0

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4105Unlisted derivatives - Physically settled
Long position133,587
Short position1,186,780
4106Unlisted derivatives - Cash settled
Long position7,090,000
Short position73,296,867
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
Citicorp LLC388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00N
Long position464,038,552
Short position0
Citibank, N.A.5800 S Corporate Place, Sioux Falls, SD 57108, Lincoln, USACiticorp LLC100.00Y
Long position464,038,552
Short position0
Citigroup Global Markets Holdings Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00N
Long position16,294,007
Short position86,824,443
Citigroup Financial Products Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Global Markets Holdings Inc.100.00N
Long position16,294,007
Short position86,824,443
Citigroup Global Markets Hong Kong Limited50/F, Champion Tower, Three Garden Road, Central, Hong KongCitigroup Financial Products Inc.100.00Y
Long position133,587
Short position1,044,953
Citigroup Global Markets Holdings Bahamas LimitedCaves Corporate Centre Building No. 2, West Bay Street P.O. Box N-1576, Nassau, New Providence, BahamasCitigroup Financial Products Inc.90.00N
Long position16,160,420
Short position85,779,490
Citigroup Global Markets LimitedCitigroup Centre, Canada Square, Canary Wharf, London E14 5LB, EnglandCitigroup Global Markets Holdings Bahamas Limited100.00Y
Long position16,160,420
Short position85,779,490
Citigroup Global Markets Holdings Inc.388 Greenwich Street, New York, NY 10013, USACitigroup Inc.100.00Y
Long position0
Short position141,827

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
  
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information:
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 05/08/2026
(dd/mm/yyyy)