Industrial and Commercial Bank of China : Announcement of the Resolutions of the Board of Directors

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Stock Code: 1398

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EUR Preference Shares Stock Code: 4604

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ANNOUNCEMENT OF THE RESOLUTIONS OF

THE BOARD OF DIRECTORS

A meeting of the board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was held at the Bank's head office at No. 55 Fuxingmennei Avenue, Xicheng District, Beijing on 11 January 2019. There were 13 directors eligible for attending the meeting, of whom 13 directors attended the meeting in person. Mr. Guan Xueqing, the Board Secretary, attended the meeting. Members of the board of supervisors were in attendance at the meeting. The meeting was convened in compliance with the provisions of the laws, regulations, the Articles of Association of Industrial and Commercial Bank of China Limited and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited.

Mr. Yi Huiman, Chairman of the Board, presided over the meeting. The directors attending the meeting considered and approved the following proposals:

• 1. Proposal on the Fixed Asset Investment Budget for 2019

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

  This proposal shall be submitted to the shareholders' general meeting of the Bank for consideration and approval.

• 2. Proposal on Revising the Administrative Measures for Interest Rate Risk of Banking Book

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

• 3. Proposal on Formulating the Measures for the Management of Large Exposures of ICBC

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

• 4. Proposal on the Internal Audit Plan for 2019

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

• 5. Proposal on the Capital Injection into Industrial and Commercial Bank of China (Asia) Limited

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

  Details are set out in the Bank's Announcement on the Capital Injection into its Subsidiary ICBC Asia, which is available on the HKExnews' website (www.hkexnews.hk).

• 6. Proposal on the Postponement of the First Extraordinary General Meeting of 2019

  Voting result of this proposal: 13 valid votes, 13 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

  The first extraordinary general meeting of 2019 was originally scheduled by the Bank to be held in Beijing on 15 February 2019. Due to the need for work arrangements coordination and considering the actual conditions of the Bank, the Board resolved that the aforementioned extraordinary general meeting will be postponed to 26 April 2019, and that the venue of the meeting will remain unchanged. Details are set out in the Bank's Announcement of Postponement of the First Extraordinary General Meeting of 2019 and Extension of Book Closure Period, which is available on the HKExnews' website (www.hkexnews.hk).

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

11 January 2019

As at the date of this announcement, the board of directors comprises Mr. YI Huiman and Mr. GU Shu as executive directors, Mr. CHENG Fengchao, Mr. ZHENG Fuqing, Ms. MEI Yingchun, Mr. DONG Shi and Mr. YE Donghai as non-executive directors, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR, Mr. SHEN Si and Mr. Nout WELLINK as independent non-executive directors.