Bank of Communications : ANNOUNCEMENT APPROVAL ON THE QUALIFICATION OF VICE CHAIRMAN OF THE BOARD AND DIRECTOR BY THE REGULATORY AUTHORITY

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Bank of Communications Co., Ltd.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 03328)

ANNOUNCEMENT

APPROVAL ON THE QUALIFICATION OF

VICE CHAIRMAN OF THE BOARD AND DIRECTOR BY THE

REGULATORY AUTHORITY

Reference is made to the announcement of Bank of Communications Co., Ltd. (the "Bank") dated 29 May 2020 in relation to, among others, the election of Mr. Liu Jun ("Mr. Liu") as the vice chairman of the Board and executive director of the Bank.

The board of directors of the Bank (the "Board") hereby announces that the Bank has obtained the Approval from China Banking and Insurance Regulatory Commission on the Qualification of Liu Jun as vice chairman of the Board and executive director of Bank of Communications (Yin Bao Jian Fu [2020] No. 499) recently, in which the qualification of Mr. Liu as the vice chairman of the Board and executive director of the Bank was approved by China Banking and Insurance Regulatory Commission with effect from 5 August 2020. With effect from 5 August 2020, Mr. Liu also serves as a member of the Strategy Committee (Inclusive Finance Development Committee) of the Board and chairman of the Social Responsibility and Consumer Protection Committee of the Board.

In accordance with the resolution of the tenth meeting of the ninth board of directors of the Bank, after Mr. Liu's serving at the special committees under the Board is effective, Mr. Ren Deqi, chairman of the Bank, will cease to serve as chairman of the Social Responsibility and Consumer Protection Committee of the Board.

By order of the Board of

Bank of Communications Co., Ltd.

Gu Sheng

Company Secretary

Shanghai, the PRC

7 August 2020

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As at the date of this announcement, the directors of the Bank are Mr. Ren Deqi, Mr. Liu Jun, Mr. He Zhaobin*, Mr. Song Guobin*, Mr. Li Longcheng*, Mr. Chan Siu Chung*, Mr. Song Hongjun*, Mr. Chen Junkui*, Mr. Liu Haoyang*, Ms. Li Jian#, Mr. Liu Li#, Mr. Yeung Chi Wai, Jason#, Mr. Woo Chin Wan, Raymond#, Mr. Cai Haoyi# and Mr. Shi Lei#.

• Non-executivedirectors

• Independent non-executive directors

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