Industrial and Commercial Bank of China : Announcement of Resolution of the Board of Supervisors

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Stock Code: 1398

EUR Preference Shares Stock Code: 4604

USD Preference Shares Stock Code: 4620

ANNOUNCEMENT OF THE RESOLUTIONS OF

THE BOARD OF SUPERVISORS

The Board of Supervisors of Industrial and Commercial Bank of China Limited (the "Bank") sent out the meeting notice in writing on 30 June 2021, and convened the meeting by way of written resolution on 7 July 2021. There were 5 supervisors eligible for voting in the meeting, and 5 supervisors voted. The convocation of the meeting and the procedures of considering the proposals were in compliance with the provisions of the relevant laws, regulations, the Articles of Association of Industrial and Commercial Bank of China Limited (the "Articles") and the Rules of Procedures of the Board of Supervisors of Industrial and Commercial Bank of China Limited.

The following proposals were considered and approved at the meeting:

1. Proposal on the Nomination of Mr. Huang Liangbo as Candidate of Shareholder Supervisor of Industrial and Commercial Bank of China Limited

Voting result of this proposal: 5 valid votes, 5 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

According to the relevant requirements of the Articles, the meeting unanimously agreed to nominate Mr. Huang Liangbo as candidate of Shareholder Supervisor of the Bank, and submit to the general meeting of shareholders for consideration and approval. Mr. Huang Liangbo's biography is set out in the Appendix.

According to the Articles, the term of office of each Supervisor is three years, and a Supervisor is eligible for re-election upon expiry of his/her term. The remuneration of the Supervisors of the Bank shall follow the relevant regulations and the relevant remuneration plan will be approved in accordance with the relevant procedures and submitted to the general meeting of shareholders for consideration and approval. The details of the remuneration of the Supervisors of the Bank are available in the Bank's annual reports and relevant announcements.

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As at the date of this announcement, Mr. Huang Liangbo has not held any directorships in listed companies in the last three years, he does not have any relationship with any directors, senior management members, substantial shareholders or controlling shareholders of the Bank, and does not hold any interests in the shares of the Bank within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance.

This proposal shall be submitted to the general meeting of shareholders of the Bank for consideration.

2. Proposal on the Election of Chairman of the Board of Supervisors of Industrial and Commercial Bank of China Limited

Voting result of this proposal: 5 valid votes, 5 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

According to the Company Law of the People's Republic of China and laws and regulations and the relevant requirements of the Articles of the Bank, taking into account the Board of Supervisors' work requirements, the Board of Supervisors elected Mr. Huang Liangbo as Chairman of the Board of Supervisors of the Bank, his term of office as Chairman of the Board of Supervisors shall take effect after the general meeting of shareholders considers and approves his appointment as Supervisor of the Bank.

Appendix: Biography of Mr. Huang Liangbo

The Board of Supervisors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

7 July 2021

As at the date of this announcement, the Board of Directors comprises Mr. CHEN Siqing and Mr. LIAO Lin as executive directors, Mr. LU Yongzhen, Mr. ZHENG Fuqing, Mr. FENG Weidong and Ms. CAO Liqun as non-executive directors, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Mr. SHEN Si, Mr. Nout WELLINK and Mr. Fred Zuliu HU as independent non-executive directors.

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Appendix

Biography of Mr. Huang Liangbo

Huang Liangbo, male, Chinese nationality, was born in December 1964.

Mr. Huang Liangbo worked in the People's Bank of China from August 1991 to June 2010 and successively served as the deputy chief of the human resources department, president of Nanning Central Sub-branch and chief of Guangxi Zhuang Autonomous Region Branch of State Administration of Foreign Exchange. He worked in the Export-Import Bank of China from June 2010 to November 2019, and served as the general manager of the human resources department from June 2010 to August 2015, member of the business committee from September 2011 to August 2014, assistant to president from December 2013 to February 2015 and vice president from February 2015 to November 2019. In November 2019, he served as the chairman of the board of supervisors of the People's Insurance Company (Group) of China Limited.

Mr. Huang Liangbo graduated from Renmin University of China in 1991 and obtained a master's degree in Law, and is a senior economist.

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