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AGRICULTURAL BANK OF CHINA LIMITED
中 國 農 業 銀 行 股 份 有 限 公 司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1288)
ANNOUNCEMENT ON THE RESOLUTION OF
THE BOARD OF DIRECTORS
The board of directors (the "Board of Directors") of Agricultural Bank of China Limited (the "Bank") issued a written notice of a meeting on 15 October 2020 (the "Meeting") and held the Meeting onsite in Beijing on 30 October 2020. 14 directors were entitled to attend and all of them attended the Meeting. Ms. XIAO Xing and Mr. LIU Shouying, due to other work arrangements, designated Ms. LEUNG KO May Yee, Margaret and Mr. WANG Xinxin, respectively, in writing to attend the Meeting and vote on their behalf. The Meeting was convened in compliance with the applicable laws and regulations, the articles of association of the Bank and the rules of procedure of the Board of Directors.
Mr. ZHOU Mubing, the Chairman of the Board of Directors, presided over the Meeting. The following proposal was considered and approved at the Meeting:
Proposal on Appointment of External Auditors for 2021
Voting result: 14 valid votes, including 14 votes in favour, 0 vote against and 0 vote abstained.
Opinions of independent non-executive directors of the Bank: Agreed.
Since 2013, the Bank has appointed PricewaterhouseCoopers Zhong Tian LLP ("PwC ZT") to audit its financial report prepared under China Accounting Standards and internal control, and appointed PricewaterhouseCoopers ("PwC") to audit its financial report prepared under International Financial Reporting Standards. In accordance with the Management Measures for Selection and Engagement of Accounting Firms in State-OwnedFinancial Institutions (Cai Jin  No. 6) issued by the Ministry of Finance of the People's Republic of China, as PwC ZT and PwC will reach the maximum service period of eight years after completing the annual audits for 2020, the Bank has to change its external auditors. The Bank has communicated with PwC ZT and PwC regarding the change of auditors and PwC ZT and PwC do not have any disagreements on such change.