Bank of China : Announcement on Distribution of Dividends for Domestic Preference Shares (Second Tranche)

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ʕ਷ვБٰ΅Ϟࠢʮ̡ 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 on Distribution of Dividends for Domestic

Preference Shares (Second Tranche)

• I. The Meeting of the Board of Directors Approving the Dividend Distribution Plan of Domestic Preference Shares (Second Tranche)

  The Proposal regarding the Non-public Issuance of Domestic Preference Shares of Bank of China Limited was considered and approved at the 2013 Annual General Meeting of the Bank, which authorized the Board of Directors of the Bank to decide and handle relevant matters relating to the payment of dividends to holders of Domestic Preference Shares in accordance with the issuance proposal. The dividend distribution plan of Domestic Preference Shares (Second Tranche) (Shanghai Stock Exchange Stock Code: 360010, Stock Name: ʕБᎴ 2) was approved by the Board of Directors of the Bank on 30 August 2020. Please refer to the announcement on resolutions of the Board of Directors of the Bank published on the same day on the websites of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and the Bank (www.boc.cn).

• II. The Dividend Distribution Plan of Domestic Preference Shares (Second Tranche)

  • 1. Dividend period: From 13 March 2020 to 12 March 2021

  • 2. Last trading day: 11 March 2021

  • 3. Share record date: 12 March 2021

  • 4. Ex-dividend date: 12 March 2021

• 5. Dividend payment date: Since 13 March 2021 is a statutory holiday, the dividend payment date is postponed to the next trading day, 15 March 2021

• 6. Recipients: All holders of Domestic Preference Shares (Second Tranche) whose names appear on the register of members of the Bank, as maintained by China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the close of trading

• hours of the Shanghai Stock Exchange on 12 March 2021.

• 7. Amount to be paid: Cash dividend payable to each preference share shall be RMB5.50 (before tax), calculated at a dividend rate of 5.50% for Domestic Preference Shares (Second Tranche). Based on the 280 million Domestic Preference Shares (Second Tranche) which were issued, the Bank will distribute cash dividends of RMB1.540 billion in total (before tax).

• 8. Tax withholding: Shareholders who are domestic resident enterprises (including institutional investors) shall file their respective tax return in respect of dividend income and pay dividend income tax by themselves, and the Bank will pay a cash dividend of RMB5.50 per preference share to these shareholders. The payment of dividend income tax by other shareholders shall be carried out in accordance with relevant regulations.

The Bank has published the Announcement on the Proposed Redemption of the Domestic Preference Shares (First and Second Tranche) on 23 September 2020, and has published indicative announcements on the redemption of Domestic Preference Shares (Second Tranche) on 2 February 2021, 22 February 2021 and 4 March 2021, respectively. Matters in relation to the redemption of the Domestic Preference Shares (Second Tranche) have been approved by the Board of Directors of the Bank, and the Bank has received a reply letter from the China Banking and Insurance Regulatory Commission (the "CBIRC"), pursuant to which, no objections were raised by the CBIRC for the Bank to redeem the Domestic Preference Shares (Second Tranche). The distribution of dividends on and the redemption of Domestic Preference Shares (Second Tranche) will be carried out concurrently. For details of the redemption of Domestic Preference Shares (Second Tranche), please refer to the relevant announcements published by the Bank on the websites of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) and the Bank (www.boc.cn).

III. Measures for the Implementation of the Dividend Distribution Plan of Domestic Preference Shares (Second Tranche)

The Bank will distribute cash dividends to holders of Domestic Preference Shares (Second Tranche) of the Bank by itself directly.

IV. Contact Information

Contact department: Board Secretariat of the Bank Tel: [phone]

Address: Bank of China Building, No. 1 Fuxingmen Nei Dajie, Xicheng District, Beijing, China Postal Code: 100818

The Board of Directors of Bank of China Limited

Beijing, PRC

4 March 2021

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

* Non-executive Directors # Independent Non-executive Directors