Industrial and Commercial Bank of China Limited announced that in September and November 2020, the bank issued tier 2 capital bonds of the aggregate size of RMB 90 billion (the ?Bonds?) in the National Interbank Bond Market in two tranches, which are fixed rate bonds with a term of 10 years, and published the announcements on completion of issuance of the Bonds. According to the relevant terms in the prospectus for the issuance of the Bonds, the Bonds are subject to the redemption option of the issuer, and the Bank has the right to redeem the Bonds in full at face value on the last day of the fifth interest accrual year (namely 24 September 2025 and 16 November 2025).