Agricultural Bank of China : Announcement on the completion of Issuance of Tier-2 Capital Bonds 2019-03-20

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AGRICULTURAL BANK OF CHINA LIMITED ʕ਷ุ༵ვБٰ΅Ϟࠢʮ̡

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

(Stock Code: 1288)

ANNOUNCEMENT ON

THE COMPLETION OF ISSUANCE OF TIER-2 CAPITAL BONDS

Reference is made to the announcement of Agricultural Bank of China Limited (the "Bank") dated 1 March 2019 on the approval of issuance of tier-2 capital bonds.

With approvals from the China Banking and Insurance Regulatory Commission and the People's Bank of China, the Bank completed an issuance of RMB60 billion tier-2 capital bonds (the "Bonds") in the national inter-bank bond market on 19 March 2019.

The total amount of Bonds is RMB60 billion and the Bonds are divided into two categories. The first one is 15-year fixed rate bonds with a total amount of RMB10 billion and coupon rate of 4.53%, for which the Bank has a conditional right to redeem following the tenth anniversary of the issuance date. The second one is 10-year fixed rate bonds with a total amount of RMB50 billion and coupon rate of 4.28%, for which the Bank has a conditional right to redeem following the fifth anniversary of the issuance date.

The proceeds from the issuance of the Bonds will be used to replenish the tier-2 capital of the Bank according to applicable laws and regulatory approvals.

By Order of the Board

Agricultural Bank of China Limited

ZHOU Wanfu

Company Secretary

Beijing, the PRC

20 March 2019

As at the date of this announcement, the executive directors are Mr. ZHOU Mubing and Mr. WANG Wei; the non-executive directors are Mr. XU Jiandong, Mr. CHEN Jianbo, Mr. LIAO Luming and Mr. LI Qiyun and the independent non-executive directors are Mr. WEN Tiejun, Mr. Francis YUEN Tin-fan, Ms. XIAO Xing, Mr. WANG Xinxin and Mr. HUANG Zhenzhong.