Industrial and Commercial Bank of China : Announcement on the Commencement of Operation of ICBC Austria

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Stock Code: 1398

USD Preference Shares Stock Code: 4603

EUR Preference Shares Stock Code: 4604

RMB Preference Shares Stock Code: 84602

ANNOUNCEMENT ON THE COMMENCEMENT OF

OPERATION OF ICBC AUSTRIA

As approved by domestic and overseas regulatory authorities, ICBC Austria Bank GmbH ("ICBC Austria") commenced business in Vienna on 21 May 2019 (Austria time).

With the opening of ICBC Austria, Industrial and Commercial Bank of China Limited (the "Bank") will play its role as a financial bridge, and provide professional and efficient cross-border financial services in key areas such as advanced manufacturing, energy conservation and environmental protection, technological innovation, winter sports industry and other new areas for growth. The Bank will promote pragmatic cooperation between the two countries under the Belt and Road Initiative and the cooperation mechanism between China and the Central and Eastern Europe Countries, and will endeavour to become a pioneering bank servicing China and Austria in sharing global market opportunities. ICBC Austria will comply with regulatory requirements and implement global best practices, adhere to the philosophy of compliant and prudent operation, and actively fulfill its social responsibilities. ICBC Austria aims to be an excellent bank that wins customer satisfaction, regulatory recognition and good reputation in the Austrian market.

As at the date of this announcement, the Bank has a service network in Europe that covers 15 countries, and established 426 institutions in 47 countries and regions globally.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

22 May 2019

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing and Mr. GU Shu as executive directors, Mr. ZHENG Fuqing, Ms. MEI Yingchun, Mr. DONG Shi and Mr. YE Donghai 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.