China Merchants Bank : ·ANNOUNCEMENT ON RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTORS

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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 RESIGNATION OF

INDEPENDENT NON-EXECUTIVE DIRECTORS

The board of directors (the "Board") of China Merchants Bank Co., Ltd. (the "Company") recently received letters of resignation from Mr. Leung Kam Chung, Antony and Mr. Zhao Jun, the Independent Non-Executive Directors of the Company. Mr. Leung Kam Chung, Antony resigned as an Independent Non-Executive Director of the Company and a member of the Remuneration and Appraisal Committee under the Board due to expiry of his tenure. Mr. Zhao Jun resigned as an Independent Non-Executive Director of the Company, a member of the Audit Committee under the Board and the chairman of the Related Party Transactions Management and Consumer Rights Protection Committee under the Board due to expiry of his tenure.

In accordance with the provisions of relevant laws, regulations and requirements of the Articles of Association of China Merchants Bank Co., Ltd., the resignation of Mr. Leung Kam Chung, Antony and Mr. Zhao Jun will take effect only after new Independent Non-Executive Directors as their replacement have been elected respectively at the general meeting of the Company and whose qualifications for serving as Independent Non-Executive Directors have been approved by China Banking and Insurance Regulatory Commission. Prior to that, Mr. Leung Kam Chung, Antony and Mr. Zhao Jun will continue to perform their duties as Independent Non-Executive Directors and in special committees under the Board in accordance with the provisions of relevant laws, regulations and requirements of the Articles of Association of China Merchants Bank Co., Ltd..

Mr. Leung Kam Chung, Antony and Mr. Zhao Jun have both confirmed that they had no disagreement with the Board of the Company and there were no other matters that would need to be brought to the attention of the shareholders of the Company. The Board would like to express its gratitude and appreciation to Mr. Leung Kam Chung, Antony and Mr. Zhao Jun for their contribution to the Company during their term of office.

By Order of the Board

China Merchants Bank Co., Ltd.

Liu Jianjun Ho Wing Tsz Wendy

Joint Company Secretaries

12 January 2021

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.