Industrial and Commercial Bank of China : Announcement on the Redemption of Subordinated Bonds

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Stock Code: 1398

USD Preference Shares Stock Code: 4603

EUR Preference Shares Stock Code: 4604

RMB Preference Shares Stock Code: 84602

ANNOUNCEMENT ON THE REDEMPTION OF

SUBORDINATED BONDS

Industrial and Commercial Bank of China Limited (the "Bank") issued subordinated bonds of RMB40 billion (the "Bonds") in the China national inter-bank bond market from 16 to 20 July 2009, and published the Announcement on Completion of Issue of Subordinated Bonds on 22 July 2009. There were three types of Bonds issued. According to the relevant terms in the prospectus for the issuance of the Bonds, the second type of the Bonds is subject to the redemption option of the issuer, and the Bank has the right to redeem in full this type of the Bonds at face value on the last day of the tenth interest accrual year (namely 20 July 2019, which, being a rest day, was postponed to the first following working day, namely 22 July 2019).

As at the date of this announcement, the Bank has exercised the redemption right and completed the full redemption of this type of subordinated bonds of an amount of RMB24 billion at face value.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

23 July 2019

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing, Mr. GU Shu, Mr. HU Hao and Mr. TAN Jiong 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.