China Merchants Bank : ·ANNOUNCEMENT ON IMPLEMENTATION OF THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PRE...

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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)

ANNOUNCEMENT ON IMPLEMENTATION OF THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PREFERENCE SHARES

1. CONSIDERATION AND APPROVAL OF THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PREFERENCE SHARES
   The "Resolution Regarding the Plan for the Non-public Issuance of Onshore Preference Shares of the Company" was considered and approved by China Merchants Bank Co., Ltd. (the "Company") at the 2016 annual general meeting, the first class meeting of the shareholders of A Shares for 2017 and the first class meeting of the shareholders of H Shares for 2017, and the board of directors was authorized, which will then delegate to the relevant directors, to jointly exercise the full power to handle matters relating to the declaration and payment of all the dividends for the Preference Shares under the framework and principles as deliberated and adopted at the shareholders' general meeting from the date of completion of this issuance of the Onshore Preference Shares. On 8 September 2020, Tian Huiyu (Director)
   and Hong Xiaoyuan (Director) jointly entered into the "Decision on Distribution of the Third Interest-bearing Annual Dividends for '招銀優1' (Zhao Yin You 1) of China Merchants Bank
   Co., Ltd." to approve the dividend distribution plan for Onshore Preference Shares (stock code: 360028 and stock abbreviation: 招銀優1 (Zhao Yin You 1)).

1. THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PREFERENCE SHARES
2. 1. Amount to be paid: Cash dividend payable for each of the Preference Shares will be RMB4.81 (tax inclusive), calculated at the dividend rate of 4.81% for 招銀優1 (Zhao Yin You 1), and the Company will distribute cash dividends of RMB1,322.75 million in total (tax inclusive).
   2. Recipients: All the holders of 招銀優1 (Zhao Yin You 1) whose names appear on the register of members of the Company, as maintained by China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the close of trading hours of the Shanghai Stock Exchange on 17 December 2020.

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3. Tax withholding: The Company will pay cash dividend of RMB4.81 (tax inclusive) per preference share. Subject to the relevant provisions of the national tax law:

1. The holders of 招銀優1 (Zhao Yin You 1) who are domestic resident enterprises (including institutional investors) as stipulated in the Enterprise Income Tax Law of the People's Republic of China shall pay their dividend income tax by themselves, and the Company shall pay cash dividend of RMB4.81 per preference share to these shareholders.
2. Other holders of 招銀優1 (Zhao Yin You 1) shall pay their dividend income tax in accordance with the relevant provisions.

If there are any changes in the relevant tax law before the dividend payment, the latest provisions shall prevail.

1. DATES FOR IMPLEMENTATION OF THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PREFERENCE SHARES
2. 1. Last trading date: 16 December 2020 (Wednesday)
   2. Record date: 17 December 2020 (Thursday)
   3. Ex-dividenddate: 17 December 2020 (Thursday)
   4. Dividend payment date: 18 December 2020 (Friday)

IV. MEASURES FOR IMPLEMENTATION OF THE DIVIDEND DISTRIBUTION PLAN FOR ONSHORE PREFERENCE SHARES

The Company will distribute the dividends to all the holders of 招銀優1 (Zhao Yin You 1) directly.

1. CONTACT INFORMATION Tel: [phone] Fax: [phone]

The Board of Directors of

China Merchants Bank Co., Ltd.

10 December 2020

As at the date of this announcement, the executive directors of the Company are Tian Huiyu, Liu Jianjun and Wang Liang; the non-executive directors of the Company are Miao Jianmin, Fu Gangfeng, Zhou Song, Hong Xiaoyuan, Zhang Jian, Su Min, Wang Daxiong and Luo Sheng; and the independent non-executive directors of the Company are Leung Kam Chung, Antony, Zhao Jun, Wong See Hong, Li Menggang, Liu Qiao and Tian Hongqi.

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