Industrial and Commercial Bank of China : Announcement on the Change of Directors

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Stock Code: 1398

EUR Preference Shares Stock Code: 4604

ANNOUNCEMENT ON THE CHANGE OF DIRECTORS

The Second Extraordinary General Meeting of 2019 of Industrial and Commercial Bank of China Limited (the "Bank") held on 22 November 2019 elected Mr. Feng Weidong and Ms. Cao Liqun as Non-executive Directors of the Bank. The Bank has recently received the "China Banking and Insurance Regulatory Commission's Approval in relation to the Qualification of Feng Weidong of Industrial and Commercial Bank of China" and the "China Banking and Insurance Regulatory Commission's Approval in relation to the Qualification of Cao Liqun of Industrial and Commercial Bank of China". Pursuant to the relevant requirements, the qualifications of Mr. Feng Weidong and Ms. Cao Liqun as Non-executive Directors of the Bank have been approved by the China Banking and Insurance Regulatory Commission. The appointments of Mr. Feng Weidong and Ms. Cao Liqun as Non-executive Directors have become effective. The Bank would like to welcome Mr. Feng Weidong and Ms. Cao Liqun as members of the board of directors of the Bank.

For the biographies of Mr. Feng Weidong and Ms. Cao Liqun, please refer to the supplemental circular of the Bank dated 7 November 2019. Save as disclosed herein, there are no other matters relating to the appointments of Mr. Feng Weidong and Ms. Cao Liqun that need to be brought to the attention of the shareholders and creditors of the Bank nor is there any information to be disclosed pursuant to other regulatory requirements.

Mr. Dong Shi, Non-executive Director of the Bank has tendered his resignation to the board of directors of the Bank (the "Board") on 10 February 2020, resigning from the positions as Non- executive Director of the Bank and member of the Strategy Committee and the Risk Management Committee of the Board of the Bank due to change of job assignments. Mr. Dong Shi has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be notified to the shareholders or the creditors of the Bank.

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Mr. Dong Shi has performed his duties diligently and conscientiously since he joined the Board of the Bank in 2017 and has made important contributions in areas including corporate governance, development strategy, operation of the Board, risk management, as well as international and comprehensive development of the Bank. The Board would like to express its sincere gratitude to Mr. Dong Shi for his contributions to the Bank during his tenure of service.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

11 February 2020

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing and Mr. GU Shu as executive directors, Mr. YE Donghai, Mr. ZHENG Fuqing, Ms. MEI Yingchun, Mr. LU Yongzhen, Mr. FENG Weidong and Ms. CAO Liqun as non-executive directors, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR, Mr. SHEN Si, Mr. Nout WELLINK and Mr. Fred Zuliu HU as independent non-executive directors.

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