Bank of China : Announcement-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.

中 國 銀 行 股 份 有 限 公 司

BANK OF CHINA LIMITED

(a joint stock company incorporated in the People's Republic of China with limited liability)

(the "Bank")

(Stock Code: 3988 and 4619 (Preference Shares))

ANNOUNCEMENT

Redemption of Subordinated Bonds

On 9 March 2010, the Bank issued 15-year fixed interest rate subordinated bonds in the amount of RMB24.93 billion (the "Bonds"), and the Bank published the Announcement on Completion of the Subordinated Bonds Issuance on 12 March 2010. According to the relevant terms and conditions in the prospectus for the issuance of the Bonds, the Bonds are subject to the redemption option of the issuer, where it has the right to redeem the Bonds at the tenth anniversary of the issuance of the Bonds, which is 11 March 2020.

As at the date of this announcement, the Bank has exercised the redemption option and redeemed the Bonds in full amount.

The Board of Directors of

Bank of China Limited

Beijing, PRC

12 March 2020

As at the date of this announcement, the directors of the Bank are: Liu Liange, Wang Jiang, Lin Jingzhen, Zhao Jie*, Xiao Lihong*, Wang Xiaoya*, Zhang Jiangang*, Wang Changyun#, Angela Chao#, Jiang Guohua# and Martin Cheung Kong Liao#.

*  Non-executive Directors

# Independent Non-executive Directors