Market Overview

Newly Approved Target-Date Retirement Funds to Become Available on Ant Fortune Platform

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Target-date funds designed to encourage personal retirement savings
and complement national pension system

Ant Financial Services Group ("Ant Financial" or "the Company") today
announced that 14 newly approved target-date retirement funds will be
made available on the Company's wealth management platform, Ant Fortune.

On August 6, 2018, China Securities Regulatory Commission (CSRC)
approved the launch of the first batch of 14 target-date retirement
funds operated by leading Chinese asset management firms including China
AMC, Bosera Funds, GF Funds Management and ICBC Credit Suisse Asset
Management. The funds are designed to stimulate the growth of personal
retirement savings and complement China's existing pension system.

After the asset management companies complete an initial preparation
phase, Ant Fortune users will be able to subscribe to the approved funds.

Guoming Zu, Vice President of Ant Financial's Wealth Management Business
Group said, "Ant Fortune is dedicated to advocating healthy investment
habits and providing access to a diverse range of financial products and
investor education initiatives. Target-date funds are specifically
designed to encourage individuals to save for retirement and plan for
the long term. We are pleased to work with asset management partners to
make them available to our users."

Some asset management companies offering target-date funds, such as
China AMC, Bosera Funds, GF Funds Management and ICBC Credit Suisse
Asset Management have established corporate Caifuhao accounts on the Ant
Fortune platform. Launched in 2017, Caifuhao accounts provide fund
managers a channel to better connect and engage users, as well as enable
them to provide more customized wealth management services for investors.

Ant Fortune provides a range of AI-powered services for Caifuhao account
holders, including operational optimization, smart marketing and content
generation as well as compliance and risk management. 27 asset
management companies have leveraged these services to increase their
operational efficiency by 70%, while reducing their overall operational
costs by 50%. These asset managers have also benefited from a 10-fold
increase in the number of daily visitors, a three-fold increase in the
amount invested by returning customers, and an 89% increase in the
average holding period of individual investors.

Since Ant Fortune's establishment in 2015, all of the 116 mutual-fund
asset management companies in China have signed up to join the platform.
As a result, over 4,000 wealth management products have been made
available to tens of millions of Ant Fortune users.

About Ant Fortune

Launched in 2015, Ant Fortune serves as a comprehensive wealth
management platform that caters to individual consumers with little
financial management expertise. In the past, a vast majority of wealth
management products were designed for high-net worth investors and
portfolio management which requires both time and expertise. Ant Fortune
aims to provide investment options for those who have little time or
know-how to increase their wealth by lowering the threshold of
participation.

About Ant Financial

Ant Financial Services Group is dedicated to using technology to bring
the world equal opportunities. Our technologies, including blockchain,
artificial intelligence, security, Internet of Things and computing,
empower us and our ecosystem partners to serve the unbanked and
underbanked, bringing more secure, transparent, cost-effective and
inclusive financial services to individuals and SMEs worldwide.

Ant Financial has formed international partnerships with global
strategic partners to serve local users in those markets, and we serve
Chinese travelers overseas by connecting Alipay with online and offline
merchants in popular destinations. By the end of March 2018, together
with its global JV partners, Ant Financial served 870 million users
worldwide. Brands under Ant Financial Services Group include Alipay, Ant
Fortune, Zhima Credit, MYbank and Ant Financial Cloud.

For more information on Ant Financial, please visit our website at www.antfin.com
or follow us on Twitter @AntFinancial.

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