China Power International Development : Issuance of RMB2 Billion Medium-Term Note in the PRC

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China Power International Development Limited

中 國 電 力 國 際 發 展 有 限 公 司

(incorporated in Hong Kong with limited liability)

(Stock Code: 2380)

Inside Information

Issuance of RMB2 Billion Medium-Term Note in the PRC

(the second tranche issue among the RMB4 billion medium-term notes registered in 2019)

This announcement is made by China Power International Development Limited (the "Company", and together with its subsidiaries, collectively the "Group") pursuant to Rule

13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 5 September 2019 in relation to the issuance of medium-term notes (the "Note") by the Company in the interbank bond market in the People's Republic of China (the "PRC") in the aggregate amount of RMB4 billion within an effective registration period of 2 years and the issuance of the first-tranche of the Note for RMB2 billion.

On 23 April 2021, the Company completed the issuance of the second tranche of the Note named "2021-first-trancheNote" with the following principal terms.

Issuer:	China Power International Development Limited
Principal amount:	RMB2 billion
Unit face value:	RMB100
Coupon rate:	3.54% per annum
Maturity period:	3 years

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Guarantee:	Unsecured
Rating agency:	China Chengxin International Credit Rating Co., Ltd.
Credit rating:	Corporate credit rating of the Company: AAA
	Rating outlook: Stable
	Credit rating of the 2021-first-tranche Note: AAA
Issue method:	Industrial and Commercial Bank of China Limited and Bank
	of China Limited acted as the joint lead underwriters for the
	2021-first-tranche Note which was publicly offered in the
	interbank bond market in the PRC by way of a book-building
	exercise.
Use of funds:	Proceeds will be used mainly for (i) repayment of existing
	borrowings and bank loans; and (ii) replenishment of working
	capital of the Group.

In connection with the issuance of the 2021-first-tranche Note, the Company published an announcement in the PRC to provide investors with certain information concerning its terms and conditions, the credit rating report and the financial information including the audited consolidated financial statements for the latest three financial years ended 31 December 2017, 2018 and 2019, and the unaudited interim condensed consolidated financial statements for the six months ended 30 June 2020 of the Group. The relevant documents have been disclosed on the websites at www.chinamoney.com.cnand www.shclearing.com.

By Order of the Board

China Power International Development Limited

He Xi

Chairman

Hong Kong, 26 April 2021

As at the date of this announcement, the directors of the Company are: executive director He Xi, non-executive directors Wang Xianchun and Zhou Jie, and independent non-executive directors Kwong Che Keung, Gordon, Li Fang and Yau Ka Chi.

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