China Life Insurance Company Limited (the 「Company,」 stock code: 2628) and China Life Industries Investment Company Limited intend to contribute RMB2,000,000,000 and RMB10,000,000, respectively, to an equity investment plan established by China Life Investment Management Company Limited (「CLI」). The total raised capital of RMB2,010,000,000 will be used, after deducting related expenses, to subscribe for limited partnership interests in a partnership focused on sectors such as semiconductors, digital energy, and smart electric vehicles.

According to the announcement, the Company’s contribution aligns with its asset allocation strategies and is expected to be funded internally. The equity investment plan has a term of six years, extendable by two years. Upon exit, CLI will charge a management fee that includes a fixed annual rate of 0.2% of the Company’s capital contribution, plus a floating portion when the internal rate of return exceeds 8%.

As CLI and China Life Industries are associates of China Life Insurance (Group) Company—the Company’s controlling shareholder—this joint investment constitutes a connected transaction under Chapter 14A of the Listing Rules. Given that the applicable percentage ratios exceed 0.1% but are below 5%, the transaction is subject to reporting and announcement requirements but does not require independent shareholders’ approval.