China Merchants Securities : ANNOUNCEMENT ON RESIGNATION OF THE CHAIRMAN

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)

ANNOUNCEMENT ON RESIGNATION OF THE CHAIRMAN

The board of directors (the "Board") of China Merchants Bank Co., Ltd. (the "Company" or "China Merchants Bank") received a letter of resignation from Mr. Li Jianhong, the Chairman and Non-Executive Director of the Company. Due to change of work arrangement, Mr. Li Jianhong resigned as the Chairman, Non-Executive Director, Chairman of the Strategy Committee of the Board and member of the Nomination Committee of the Board. Mr. Li Jianhong has confirmed that he has no disagreement with the Board of the Company and there is no other matter in respect of his resignation that needs to be brought to the attention of the shareholders and creditors of the Company.

In accordance with the relevant requirements of the Articles of Association of China Merchants Bank Co., Ltd., in order to ensure the soundness of corporate governance of the Company and the Company's normal operation, Mr. Li Jianhong will continue to perform the duties as the Chairman, Non-Executive Director, Chairman of the Strategy Committee of the Board and member of the Nomination Committee of the Board until the date on which the qualifications for serving as the new Non-Executive Director to be elected at the general meeting of the Company and the new Chairman to be elected at the Board meeting are approved by the China Banking and Insurance Regulatory Commission.

Mr. Li Jianhong has served as a Non-Executive Director of the Company since July 2014 and the Chairman of the Company since August 2014. During the past six years, he has always accurately grasped the strategic direction, adhered to a stable operating philosophy, continuously improved market-oriented management mechanisms, continued to increase investment in innovative technologies, and led all employees of China Merchants Bank to accomplish the excellent achievements in the course of realising the strategic vision of "building the best commercial bank in China with innovation-driven development, leading retail banking and distinguished features".

1

The Board would like to express its gratitude and appreciation to Mr. Li Jianhong for his outstanding contribution to the Company.

By Order of the Board

China Merchants Bank Co., Ltd.

Liu Jianjun Ho Wing Tsz Wendy

Joint Company Secretaries

18 August 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 Li Jianhong, 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.

2