Deutsche Bank Appointed as Depositary Bank for the Sponsored American Depositary Receipt Program of GSX Techedu Inc.

Deutsche Bank announced today its appointment as depositary bank for the
NYSE-listed American Depositary Receipt program of GSX Techedu Inc.

NEW YORK–(BUSINESS WIRE)–GSX Techedu Inc. (NYSE: GSX) is a technology-driven education company,
which offers K-12 courses covering all primary and secondary grades, as
well as foreign language, professional and interest courses, in online
live large-class format.*

The appointment of Deutsche Bank as depositary bank for the GSX Techedu
American Depositary Receipt program demonstrates our ongoing commitment
to the Chinese market,” said Brian Studdert, Global Head of Depositary
Receipts at Deutsche Bank. “Our broad range of customized services will
be used to help GSX Techedu drive the program’s future success.”

In addition to specializing in administering cross-border equity
structures such as New York Shares and American and Global Depositary
Receipts, Deutsche Bank provides corporates, financial institutions,
hedge funds and supranational agencies around the world with trustee,
agency, escrow and related services. Deutsche Bank offers a very broad
range of services for diverse products, from complex securitizations and
project finance to syndicated loans, debt exchanges and restructurings.

* This information was provided by GSX Techedu Inc. (June 2019).

Deutsche Bank provides commercial and investment banking, retail
banking, transaction banking and asset and wealth management products
and services to corporations, governments, institutional investors,
small and medium-sized businesses, and private individuals. Deutsche
Bank is Germany’s leading bank, with a strong position in Europe and a
significant presence in the Americas and Asia Pacific.

The Depositary Receipts have been registered pursuant to the US
Securities Act of 1933 (the “Act”). The investment or investment service
which is the subject of this notice is not available to retail clients
as defined by the UK Financial Conduct Authority. This notice has been
approved and/or communicated by Deutsche Bank AG New York. The services
described in this notice are provided by Deutsche Bank Trust Company
Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in
accordance with appropriate local registration and regulation. Deutsche
Bank is providing the attached notice strictly for information purposes
and makes no claims or statement, nor does it warrant or in any way
represent, as to the accuracy or completeness of the details contained
herein or therein. This announcement appears as a matter of record only.
Neither this announcement nor the information contained herein
constitutes an offer or solicitation by Deutsche Bank or any other
issuer or entity for the purchase or sale of any securities nor does it
constitute a solicitation to any person in any jurisdiction where
solicitation would be unlawful. No part of this notice may be copied or
reproduced in any way without the prior written consent of Deutsche
Bank. Past results are not an indication of future performance.
Copyright© June 2019 Deutsche Bank AG. All rights reserved.

Contacts

Deutsche Bank AG
Press & Media Relations
Kerrie McHugh
Phone:
+1 212 250-6853
E-Mail: kerrie.mchugh@db.com

Deutsche Bank Appointed as Depositary Bank for the Sponsored American Depositary Receipt Program of GSX Techedu Inc.

Deutsche Bank announced today its appointment as depositary bank for the
NYSE-listed American Depositary Receipt program of GSX Techedu Inc.

NEW YORK–(BUSINESS WIRE)–GSX Techedu Inc. (NYSE: GSX) is a technology-driven education company,
which offers K-12 courses covering all primary and secondary grades, as
well as foreign language, professional and interest courses, in online
live large-class format.*

The appointment of Deutsche Bank as depositary bank for the GSX Techedu
American Depositary Receipt program demonstrates our ongoing commitment
to the Chinese market,” said Brian Studdert, Global Head of Depositary
Receipts at Deutsche Bank. “Our broad range of customized services will
be used to help GSX Techedu drive the program’s future success.”

In addition to specializing in administering cross-border equity
structures such as New York Shares and American and Global Depositary
Receipts, Deutsche Bank provides corporates, financial institutions,
hedge funds and supranational agencies around the world with trustee,
agency, escrow and related services. Deutsche Bank offers a very broad
range of services for diverse products, from complex securitizations and
project finance to syndicated loans, debt exchanges and restructurings.

* This information was provided by GSX Techedu Inc. (June 2019).

Deutsche Bank provides commercial and investment banking, retail
banking, transaction banking and asset and wealth management products
and services to corporations, governments, institutional investors,
small and medium-sized businesses, and private individuals. Deutsche
Bank is Germany’s leading bank, with a strong position in Europe and a
significant presence in the Americas and Asia Pacific.

The Depositary Receipts have been registered pursuant to the US
Securities Act of 1933 (the “Act”). The investment or investment service
which is the subject of this notice is not available to retail clients
as defined by the UK Financial Conduct Authority. This notice has been
approved and/or communicated by Deutsche Bank AG New York. The services
described in this notice are provided by Deutsche Bank Trust Company
Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in
accordance with appropriate local registration and regulation. Deutsche
Bank is providing the attached notice strictly for information purposes
and makes no claims or statement, nor does it warrant or in any way
represent, as to the accuracy or completeness of the details contained
herein or therein. This announcement appears as a matter of record only.
Neither this announcement nor the information contained herein
constitutes an offer or solicitation by Deutsche Bank or any other
issuer or entity for the purchase or sale of any securities nor does it
constitute a solicitation to any person in any jurisdiction where
solicitation would be unlawful. No part of this notice may be copied or
reproduced in any way without the prior written consent of Deutsche
Bank. Past results are not an indication of future performance.
Copyright© June 2019 Deutsche Bank AG. All rights reserved.

Contacts

Deutsche Bank AG
Press & Media Relations
Kerrie McHugh
Phone:
+1 212 250-6853
E-Mail: kerrie.mchugh@db.com

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