Industrial and Commercial Bank of China : Announcement on the Appointment of Chairman of the Board of Supervisors

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Stock Code: 1398

EUR Preference Shares Stock Code: 4604

ANNOUNCEMENT ON THE APPOINTMENT OF CHAIRMAN OF THE BOARD OF SUPERVISORS

On 8 January 2020, the First Extraordinary General Meeting of 2020 of Industrial and Commercial Bank of China Limited (the "Bank") considered and approved the Proposal on the Election of Mr. Yang Guozhong as Shareholder Supervisor of Industrial and Commercial Bank of China Limited. According to the relevant requirements and the resolution of the board of supervisors of the Bank, Mr. Yang Guozhong's term of office as Shareholder Supervisor of the Bank commences upon the consideration and approval at the shareholders' general meeting, and his term of office as chairman of the board of supervisors of the Bank takes effect concurrently. Mr. Yang Guozhong's biography is enclosed in the Appendix.

The Bank would like to extend its warm welcome to Mr. Yang Guozhong in assuming the office of chairman of the board of supervisors.

Appendix: Biography of Mr. Yang Guozhong

The Board of Supervisors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

8 January 2020

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

Biography of Mr. Yang Guozhong

Mr. Yang Guozhong, male, Chinese nationality, born in October 1963.

Mr. Yang Guozhong has served as chairman of the board of supervisors of Industrial and Commercial Bank of China Limited since January 2020. Mr. Yang Guozhong has served as Deputy President of Chongqing Branch of the People's Bank of China and concurrently served as Deputy President of Chongqing Branch of State Administration of Foreign Exchange from November 1997 to September 2003; Mr. Yang Guozhong has served as President of Chongqing Operation Office of the People's Bank of China and concurrently served as President of Chongqing Administrative Office of State Administration of Foreign Exchange from September 2003 to October 2007; Mr. Yang Guozhong has served as President of Operation Office (Beijing) of the People's Bank of China and concurrently served as President of Beijing Administrative Office of State Administration of Foreign Exchange from October 2007 to September 2011; he served as Head of the Discipline Inspection Group of the CPC Leading Group of the SAFE from September 2011 to November 2015; as Deputy Administrator of State Administration of Foreign Exchange from November 2015 to July 2018; and as Chairman of the Board of Supervisors of China Investment Corporation from July 2018 to December 2019.

Mr. Yang Guozhong graduated from Zhongnan University of Finance and Economics in 1987 and obtained a Master's degree in Economics. Mr. Yang Guozhong is a senior economist.

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