Citi's Issuer Services business, acting through Citibank, N.A. has been appointed by Waterdrop Inc. ("WDH"), a leading technology platform dedicated to insurance and healthcare service as the depositary bank for its American Depositary Receipts (ADR) program.

Waterdrop Inc.'s ADR program was established in connection with a $360,000,000.00 initial public offering (pre-Greenshoe) of its ADRs, priced at $12.00 per ADR. The ADRs are listed on the New York Stock Exchange under the symbol "WDH" Each ADR represents 10 Class A ordinary shares of Waterdrop Inc. As a single-listed ADR program, the underlying Class A ordinary shares are not listed or publicly traded in Waterdrop Inc.'s home market.

"Citi is committed to leveraging our global expertise and extensive knowledge of capital markets activities to provide Waterdrop Inc. and its investors with the highest quality ADR services," said Dirk Jones, Global Head of Issuer Services at Citi. "We are proud to be selected as the Depositary Bank for Waterdrop Inc.'s ADR program."

Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information about Citi's Depositary Receipt Services, please visit www.citi.com/dr.

Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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Citi Appointed Depositary Bank for Waterdrop Inc.'s Sponsored ADR Program