China Huarong Asset Management : Notice of Listing on The Stock Exchange of Hong Kong Limited - Huarong Finance 2019 Co., Ltd.'s U.S.$5,900,000,000 Medium Term Note Programme Update

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This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities. This announcement does not constitute or form a part of any offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") or with any securities regulatory authority of any state of the United States and may not be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) or, if applicable, delivered in the United States except pursuant to an exemption from the registration requirements of the Securities Act. No public offering of the Securities will be made in the United States.

NOTICE OF LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

U.S.$5,900,000,000

Medium Term Note Programme

Huarong Finance 2019 Co., Ltd.

(incorporated with limited liability in the British Virgin Islands)

(as the "Issuer")

Unconditionally and irrevocably guaranteed by

China Huarong International Holdings Limited

(incorporated with limited liability in Hong Kong)

(as the "Guarantor")

and

with the benefit of a keepwell deed and a deed of equity interest purchase, investment and

liquidity support Undertaking provided

by

中國華融資產管理股份有限公司

China Huarong Asset Management Co., Ltd.

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

(Stock Code: 2799)

(as the "Company")

Arrangers and Dealers

Goldman Sachs (Asia) L.L.C.

ICBC (Asia)

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Application has been made to The Stock Exchange of Hong Kong Limited to increase the size for the Programme from U.S.$2,900,000,000 to U.S.$5,900,000,000 Medium Term Note Programme (the "Programme") for 12 months after 19 February 2020 for debt issues to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and in the Securities and Futures Ordinance (Cap. 571) of Hong Kong) only, as described in the offering circular relating thereto dated 19 February 2020. The listing of the Programme is expected to become effective on 20 February 2020.

Beijing, the PRC

19 February 2020

As at the date of this announcement, the directors of the Issuer are Ms. GAN Fen and Ms. WANG Qi.

As at the date of this announcement, the directors of the Guarantor are Mr. YU Meng, Mr. ZHU Weiqiang, Mr. XING Huayu, Mr. XU Xiaowu and Mr. WANG Junlai.

As at the date of this announcement, the board of directors of the Company comprises Mr. WANG Zhanfeng and Ms. LI Xin as executive directors of the Company; Ms. WANG Cong, Ms. DAI Lijia and Mr. ZHOU Langlang as non-executive directors of the Company; Mr. TSE Hau Yin, Mr. LIU Junmin, Mr. SHAO Jingchun and Mr. ZHU Ning as independent non-executive directors of the Company.

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