Agricultural Bank of China : ANNOUNCEMENT ON THE ESTABLISHMENT OF AGRICULTURAL BANK OF CHINA FINANCIAL TECHNOLOGY CO., LTD.

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AGRICULTURAL BANK OF CHINA LIMITED

中 國 農 業 銀 行 股 份 有 限 公 司

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

(Stock Code: 1288)

ANNOUNCEMENT ON THE ESTABLISHMENT OF

AGRICULTURAL BANK OF CHINA

FINANCIAL TECHNOLOGY CO., LTD.

On 28 July 2020, Agricultural Bank of China Financial Technology Co., Ltd. ("ABC FinTech"), was officially established by a subsidiary of Agricultural Bank of China Limited (the "Bank"). ABC FinTech has a registered capital of RMB600 million and is registered in Tongzhou District in Beijing, the PRC. ABC FinTech will specialise in commencing technological innovation, software research and development, product operation and technical consultation by way of FinTech.

The establishment of ABC FinTech is an important measure for the Bank to implement the "Six Dimension Strategy" for the governance and development of the Bank, accelerate the technology empowerment and promote the digital transformation. By establishing ABC FinTech, the Bank will accelerate the business transformation, revitalise the FinTech innovation and cultivate the core competitiveness of FinTech. Under the technology governance framework of the group, ABC FinTech will fully leverage the advantage of a market-oriented system and mechanism and the functions of a platform to better serve the group, the customers and the society, strengthen the four capacities of "innovation incubation, co-building the ecology, serving the group and technology empowerment", and be committed to building itself into the best-in-class digital ecology FinTech company which matches with an international first-class commercial banking group.

In the next step, the Bank will accelerate the implementation of the strategy of "promoting digital transformation to create a digital ABC", which will be continuously driven by FinTech and business innovation, with the aim to develop ourselves into a smart bank with first-class customer experience and a best-in-class digital eco-bank in "Sannong" and inclusive finance areas.

The Board of Directors of

Agricultural Bank of China Limited

Beijing, the PRC

28 July 2020

As at the date of this announcement, the executive directors are Mr. ZHOU Mubing, Mr. ZHANG Qingsong and Ms. ZHANG Keqiu; the non-executive directors are Mr. ZHU Hailin, Mr. LIAO Luming, Mr. LI Qiyun, Mr. LI Wei and Mr. WU Jiangtao and the independent non-executive directors are Ms. XIAO Xing, Mr. WANG Xinxin, Mr. HUANG Zhenzhong, Ms. LEUNG KO May Yee, Margaret and Mr. LIU Shouying.