ZTO Announces Pricing of Initial Public Offering

SHANGHAI, Oct. 26, 2016 /PRNewswire/ -- ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company"), a leading express delivery company in China, today announced that it has priced its initial public offering of 72,100,000 American depositary shares ("ADSs") at US$19.50 per ADS for a total offering size of approximately US$1.4 billion, assuming the underwriters do not exercise their over-allotment option to purchase additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs will begin trading on the New York Stock Exchange ("NYSE") on October 27, 2016 under the ticker symbol "ZTO."

The Company has granted the underwriters a 30-day option to purchase up to 10,815,000 additional ADSs.

Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., China Renaissance Securities (Hong Kong) Limited, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC acted as joint bookrunners for the offering.

ZTO's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which it would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This offering is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting:

Morgan Stanley& Co. International plc Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014 United States +1 917-606-8487 [email protected]

Goldman, Sachs & Co.  DG3/Diversified Global Graphics Group 100 Burma Road, Jersey City, NJ 07305 United States Attn: Nondi Blanks/Prospectus Dept +1 212-902-1171 [email protected];

China Renaissance Securities (Hong Kong) Limited Unit 8107-08, Level 81  International Commerce Centre  1 Austin Road West, Kowloon, Hong Kong +852-2287-1600;

Citigroup c/o Broadridge Financial Solutions  1155 Long Island Avenue, Edgewood, NY 11717 United States  +1-800-831-9146;

Credit Suisse Securities (USA) LLC, Attention: Prospectus DepartmentOne Madison Avenue New York, NY 10010  United States+1-800-221-1037 [email protected];

J.P. Morgan Securities LLCc/o Broadridge Financial Solutions  1155 Long Island Avenue, Edgewood, NY 11717  United States +1-866-803-9204

About ZTO Express (Cayman) Inc.

ZTO Express (Cayman) Inc. (NYSE: ZTO) ("ZTO" or the "Company") is a leading express delivery company in China and one of the largest express delivery companies globally, in terms of total parcel volume in 2015, according to the iResearch Report. ZTO provides express delivery service as well as other value-added logistics services through its extensive and reliable nationwide network in China covering over 96% of China's cities and counties as of June 30, 2016.

ZTO operates a highly scalable network partner model, which the Company believes is best suited to support the significant growth of e-commerce in China. 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 visit http://ir.zto.com.

For investor and media inquiries, please contact:

ZTO

Investor Relations Department Ms. Bonnie Bao E-mail: [email protected]

Christensen

In China Mr. Christian Arnell Phone: +86-10-5900-1548 E-mail: [email protected]

In US Mr. Tip Fleming Phone: +1-917-412-3333Email: [email protected]

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SOURCE ZTO Express (Cayman) Inc.