ZTO EXPRESS CAYMAN INC

Ticker: ZTO CUSIP: 98980A105 Class: Foreign Stock

Artal Group S.A.'s Holding History (CIK: 0001053906)

Note: Option positions (PUT/CALL) are excluded.

Q2 2017

Shares 500,000 Value ($000) $6,980 Avg Close — Range —

Q1 2017

Shares 950,000 Value ($000) $12,436 Avg Close — Range —

Q4 2016

Shares 1,000,000 Value ($000) $12,070 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	500,000	$6,980	—	—
Q1 2017	950,000	$12,436	—	—
Q4 2016	1,000,000	$12,070	—	—