ZTO to Pursue Voluntary Conversion to Dual-primary Listing on The Main Board of The Stock Exchange of Hong Kong Limited

SHANGHAI,Nov. 18,2022 -- ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK: 2057),a leading and fast-growing express delivery company in China ("ZTO" or the "Company"),today announced that the board of directors of the Company (the "Board") approved a motion to pursue the voluntary conversion to dual-primary listing (the "Primary Conversion") on The Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") pursuant to the Hong Kong Stock Exchange's guidance letter HKEX-GL112-22. The Board also authorized the Company's senior management to proceed with the relevant preparatory work and undertake the necessary procedures to complete the Primary Conversion. After the Primary Conversion,the Company will remain as a dual-listing company on The Main Board of the Hong Kong Stock Exchange and the New York Stock Exchange,and its Class A ordinary shares and American depositary shares will continue to be traded on both stock exchanges (as the case may be) and remain mutually fungible.

The Primary Conversion is conditional upon and subject to,among other things,market conditions,further approval of the Board,and the obtaining of the necessary regulatory approvals. The Company will make further announcement(s) to disclose any material updates and progress with respect to the Primary Conversion in accordance with applicable laws and regulations as and when appropriate. This announcement is for information purposes only and does not constitute,or form part of,any invitation or offer to acquire,purchase or subscribe for any securities of the Company. Shareholders and potential investors should exercise caution when dealing in the securities of the Company.

AboutZTO

ZTO Express (Cayman) Inc. (NYSE: ZTO and SEHK:2057) ("ZTO" or the "Company") is a leading and fast-growing express delivery company inChina. ZTO provides express delivery servicesas well as other value-added logistics services through its extensive and reliable nationwide network coverage inChina.

ZTO operates a highly scalable network partner model,which the Company believes is best suited to support the significant growth of e-commerce inChina. The Company leverages its network partners to provide pickup and last-mile delivery services,while controlling the mission-critical line-haul transportation and sorting network within the express delivery service value chain.

For more information,please visithttp://zto.investorroom.com.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. ZTO may also make forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission (the "SEC"),in its interim and annual reports to shareholders,in announcements,circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"),in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historical facts,including statements about the Company's beliefs and expectations,are forward-looking statements. These forward-looking statements can be identified by terminology,such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates," "likely to" and similar statements. Forward-looking statements involve inherent risks and uncertainties. Among other things,the terms of the Notes,and whether the Company will complete the Notes Offering,are forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include,but are not limited to,the development of the e-commerce industry inChina,its significant reliance on the Alibaba ecosystem,risks associated with its network partners and their employees and personnel,intense competition which could adversely affect the Company's results of operations and market share,any service disruption of the Company's sorting hubs or the outlets operated by its network partners or its technology system. Further information regarding these and other risks is included in ZTO's annual report on Form 20-Fs and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof,and ZTO assumes no obligation to update such information,except as required under applicable law.

For investor and media inquiries,please contact:

ZTO Express (Cayman) Inc.

Investor Relations

E-mail:ir@zto.com

Phone: +86 21 5980 4508