China Merchants Bank : 2022 INTERIM RESULTS ANNOUNCEMENT

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.

招 商 銀 行 股 份 有 限 公 司

CHINA MERCHANTS BANK CO., LTD.

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

(H Share Stock Code: 03968)

(Preference Share Stock Code: 04614)

2022 INTERIM RESULTS ANNOUNCEMENT

The Board of Directors (the "Board") of China Merchants Bank Co., Ltd. (the "Company") hereby announces the unaudited results of the Company and its subsidiaries for the six months ended 30 June 2022. This announcement, containing the full text of the 2022 Interim Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcements of interim results. Printed version of the Company's 2022 Interim Report will in due course be delivered to the H-Share Holders of the Company and available for viewing on the websites of Hong Kong Exchanges and Clearing Limited (www.hkex.com.hk) and the Company (www.cmbchina.com).

Publication of Results Announcement

Both the Chinese and English versions of this results announcement are available on the websites of the Company (www.cmbchina.com) and Hong Kong Exchanges and Clearing Limited (www.hkex.com.hk). In the event of any discrepancies in interpretations between the English version and the Chinese version, the Chinese version shall prevail.

The Company also prepared the Interim Report in Chinese in accordance with the PRC Generally Accepted Accounting Principles, which is available on the websites of the Company (www.cmbchina.com) and Shanghai Stock Exchange (www.sse.com.cn).

By Order of the Board

China Merchants Bank Co., Ltd.

Miao Jianmin

Chairman

19 August 2022

As at the date of this announcement, the executive director of the Company is Wang Liang; the non-executive directors of the Company are Miao Jianmin, Fu Gangfeng, Zhou Song, Hong Xiaoyuan, Zhang Jian and Su Min; and the independent non-executive directors of the Company are Wong See Hong, Li Menggang, Liu Qiao, Tian Hongqi, Li Chaoxian and Shi Yongdong.

China Merchants Bank	Contents	1
Interim Report 2022 (H Share)

Contents

2 Definitions

1. Significant Risk Warning
2. Important Notice
3. Chapter I Company Information
4. Chapter II Summary of Accounting Data and Financial Indicators

1. Chapter III Management Discussion and Analysis
   7 3.1 Analysis of Overall Operation
   7 3.2 Analysis of Income Statement
   14 3.3 Analysis of Balance Sheet
   19 3.4 Analysis of Loan Quality
   25 3.5 Analysis of Capital Adequacy
   30 3.6 Results of Operating Segments
   30 3.7 Other Financial Disclosures under the Regulatory Requirements
   31 3.8 Implementation of Business Development Strategies
   34 3.9 Key Business Concerns in Operation
   46 3.10 Business Operation
   66 3.11 Risk Management
   72 3.12 Outlook and Coping Tactics

1. Chapter IV Environmental, Social and Governance (ESG)

1. Chapter V Corporate Governance

1. Chapter VI Important Events

1. Chapter VII Changes in Shares and Information on Shareholders

1. Chapter VIII Financial Statements

2 China Merchants Bank Definitions / Significant Risk Warning Interim Report 2022 (H Share)

Definitions

The Company, the Bank, CMB or China Merchants Bank: China Merchants Bank Co., Ltd.

The Group:

China Merchants Bank and its subsidiaries

CBIRC:

China Banking and Insurance Regulatory Commission

CSRC:

China Securities Regulatory Commission

Hong Kong Stock Exchange or SEHK:

The Stock Exchange of Hong Kong Limited

Hong Kong Listing Rules:

The Rules Governing the Listing of Securities on the SEHK CMB Wing Lung Bank:

CMB Wing Lung Bank Limited

CMB Wing Lung Group:

CMB Wing Lung Bank and its subsidiaries

CMB Financial Leasing or CMBFL:

CMB Financial Leasing Co., Ltd.

CMB International Capital or CMBIC:

CMB International Capital Holdings Corporation Limited

CMB Wealth Management:

CMB Wealth Management Company Limited China Merchants Fund or CMFM:

China Merchants Fund Management Co., Ltd.

CIGNA & CMAM:

CIGNA & CMB Asset Management Company Limited

CMB Europe S.A.:

China Merchants Bank (Europe) Co., Ltd. (招商銀行(歐洲) 有限公司)

CIGNA & CMB Life Insurance:

CIGNA & CMB Life Insurance Co., Ltd.

MUCFC:

Merchants Union Consumer Finance Company Limited

CMB YunChuang:

CMB YunChuang Information Technology Co., Ltd. with 100% equity interest held by the Company indirectly

CMB Network Technology:

China Merchants Bank Network Technology (Shenzhen) Co., Ltd. with 100% equity interest held by the Company indirectly

D e l o i t t e T o u c h e T o h m a t s u C e r t i f i e d P u b l i c Accountants LLP:

Deloitte Touche Tohmatsu Certified Public Accountants LLP (Special General Partnership)

SFO:

Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)

Model Code:

Model Code for Securities Transactions by Directors of Listed Issuers of Hong Kong Stock Exchange

Significant Risk Warning

The Company has disclosed herein the major risks involved in its operations and the proposed risk management measures. Please refer to Chapter III for the details in relation to risk management.

China Merchants Bank	Important Notice	3
Interim Report 2022 (H Share)

Important Notice

1. The Board of Directors, the Board of Supervisors, Directors, Supervisors and senior management of the Company confirm that the contents in this annual report are true, accurate, and complete and have no false representations, misleading statements or material omissions, and they will severally and jointly accept legal responsibility for such contents.
2. The 5th meeting of the Twelfth Session of the Board of Directors of the Company was held on 19 August 2022 by way of remote video and telephone conference. The meeting was presided by Miao Jianmin, Chairman of the Board of Directors. 13 out of 13 eligible Directors attended the meeting in person. 8 Supervisors of the Company were present at the meeting. The convening of the meeting complied with the relevant provisions of the Company Law of the People's Republic of China and the Articles of Association of China Merchants Bank Co., Ltd..
3. The Company will not implement the profit appropriation nor will it transfer any capital reserve into share capital for the first half of 2022.
4. The financial report in this report is unaudited.
5. Unless otherwise stated, all monetary sums stated in this report are expressed in RMB.
6. Miao Jianmin, Chairman of the Board of Directors, Wang Liang, President, Chief Executive Officer, Chief Financial Officer and Secretary of the Board of Directors, and Li Li, the person in charge of the Finance and Accounting Department, hereby make representations in respect of the truthfulness, accuracy and completeness of the financial information in this report.
7. We have included in this report certain forward-looking statements with respect to the financial position, operating results and business development of the Group. We use words such as "will", "may", "expect", "try", "strive", "plan", "anticipate", "aim at", and similar expressions to indicate forward-looking statements. These statements are based on current plans, estimates and projections. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we give no assurance that these expectations will turn into reality or prove to be correct. Therefore, they should not be deemed as the Group's commitments. Investors should not place undue reliance on such statements and should pay attention to investment risks. You are cautioned that such forward-looking statements are related to future events or future financial position, business, or other performances of the Group, and are subject to a number of uncertainties which may cause substantial differences from those in the actual results.

4 China Merchants Bank Chapter I Company Information Interim Report 2022 (H Share)

Company Information

1. Registered Company Name in Chinese: 招商銀行股份有限公司(Abbreviated Name in Chinese: 招商銀行)
   Registered Company Name in English: China Merchants Bank Co., Ltd.
2. Legal Representative: Miao Jianmin
   Authorised Representatives: Wang Liang, Ho Wing Tsz Wendy
   Secretary of the Board of Directors: Wang Liang
   Joint Company Secretaries: Wang Liang, Ho Wing Tsz Wendy
   Securities Representative: Xia Yangfang
3. Registered and Office Address: 7088 Shennan Boulevard, Futian District, Shenzhen, Guangdong Province, China
4. Contact Details:
   Address: 7088 Shennan Boulevard, Futian District, Shenzhen, Guangdong Province, China
   Postcode: 518040
   Tel: [phone]
   Fax: [phone]
   E-mail: [e-mail]
   Website: www.cmbchina.com
   Customer complaint hotline: 95555-7
   Credit card complaint hotline: [phone]
5. Principal Place of Business in Hong Kong: 31/F, Three Exchange Square, 8 Connaught Place, Central, Hong Kong
6. Share Listing:
   A Shares: Shanghai Stock Exchange Abbreviated Name of A Shares: CMB Stock Code: 600036
   H Shares: SEHK
   Abbreviated Name of H Shares: CM BANK

Stock Code: 03968

Domestic Preference Shares: Shanghai Stock Exchange

Abbreviated Name of Shares: Zhao Yin You 1 (招銀優1)

Stock Code: 360028

Offshore Preference Shares: SEHK

Abbreviated Name of Shares: CMB 17USDPREF

Stock Code: 04614

1.7 Domestic Auditor: Deloitte Touche Tohmatsu Certified Public Accountants LLP

Office Address: 30th Floor, Bund Center, 222 Yan'an Road East, Shanghai, China International Auditor: Deloitte Touche Tohmatsu

Office Address: 35th Floor, One Pacific Place, 88 Queensway, Hong Kong

1. Legal Advisor as to PRC Law: JunHe LLP
   Legal Advisor as to Hong Kong Law: Herbert Smith Freehills
2. Registrar for A Shares: China Securities Depository & Clearing Corporation Ltd., Shanghai Branch
   Share Register and Transfer Office as to H Shares: Computershare Hong Kong Investor Services Ltd.

Shops 1712-1716, 17/F, Hopewell Center,

183 Queen's Road East, Wanchai, Hong Kong

Registrar for Domestic Preference Shares: China Securities Depository & Clearing Corporation Ltd., Shanghai Branch

Registrar and Transfer Agent for Offshore Preference Shares: The Bank of New York Mellon SA/NV, Luxembourg Branch

1.10 Newspapers and Websites Designated for Information Disclosure:

Mainland China: "China Securities Journal" (www.cs.com.cn), "Securities Times" (www.stcn.com), "Shanghai Securities News" (www.cnstock.com)

website of Shanghai Stock Exchange (www.sse.com.cn)

website of the Company (www.cmbchina.com)

Hong Kong: website of Hong Kong Exchanges and Clearing Limited (www.hkex.com.hk) website of the Company (www.cmbchina.com)

Place for maintenance of periodic reports: Office of the Board of Directors of the Company