Industrial and Commercial Bank of China : Announcement of the Resolutions of the Board of Directors

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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 DIRECTORS

A meeting of the Board of Directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was held at the Bank's Head Office at 55 Fuxingmennei Avenue, Xicheng District, Beijing on 29 April 2021. There were 11 directors eligible for attending the meeting, of whom 11 directors attended the meeting in person. The Senior Executive Vice Presidents of the Bank, Mr. Wang Jingwu, Mr. Zhang Wenwu and Mr. Xu Shouben, and members of the Board of Supervisors were in attendance at the meeting. Mr. Guan Xueqing, the Board Secretary attended the meeting. The meeting was convened in compliance with the provisions of the laws, regulations, and requirements under the Articles of Association of Industrial and Commercial Bank of China Limited (the "Articles") and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited.

Mr. Chen Siqing, Chairman of the Board, presided over the meeting. The directors attending the meeting considered and approved the following proposals:

1. Proposal on the Strategic Development Plan of ICBC for 2021-2023
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
2. Proposal on the Risk Management Plan of ICBC for 2021-2023
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
3. Proposal on the Strategic International Development Plan of ICBC for 2021-2023
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

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1. Proposal on the Internal Audit Development Plan of ICBC for 2021-2023
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
2. Proposal on the Group's Data Governance and Intelligent Application Plan of ICBC for 2021-2023
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
3. Proposal on the Appointment of Mr. Zhang Weiwu as Senior Executive Vice President of
   ICBC
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
   In accordance with the Company Law of the People's Republic of China and other laws and regulations and relevant requirements under the Articles, the Board resolved to appoint Mr. Zhang Weiwu as Senior Executive Vice President of Industrial and Commercial Bank of China Limited. After the Board considered and approved Mr. Zhang Weiwu's appointment, it shall be filed with the China Banking and Insurance Regulatory Commission for approval. The biography of Mr. Zhang Weiwu is set out in the Appendix.
   As at the date of this announcement, Mr. Zhang Weiwu has not held directorship in any listed companies in the last three years, he does not have any relationship with directors, other Senior Management members, substantial shareholders or controlling shareholders of the Bank, nor does he hold any interests in the shares of the Bank within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance.
   Opinion of Independent Directors on this proposal: Agree.
4. Proposal on the First Quarterly Report of 2021
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
   Details are available on the HKEXnews' website of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk).
5. Proposal on the 2020 Capital Adequacy Ratio Management Report of ICBC
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

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1. Proposal on the Extending the Validity Period of the Authorization to Offshore Issuance of Undated Capital Bonds
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
   This proposal shall be submitted to the general meeting of shareholders of the Bank for consideration.
2. Proposal on the Materials Donation for Epidemic Prevention and Control in 2020
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
   This proposal shall be submitted to the general meeting of shareholders of the Bank for consideration.
3. Proposal on the 2020 Compliance Risk Management Report of the Group
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
4. Proposal on Consumer Protection in 2020 and Its Work Plan for 2021
   Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.
   In 2020, the Bank adhered to the "customer first" work principle, continuously strengthened top level strategic planning for consumer protection, properly coordinated consumer protection work during the COVID-19 period, paid close attention to consumers' opinions, further promoted customer complaint management, actively fulfilled the social responsibility of providing financial publicity education for consumers, and continued to improve the level of consumer protection. The Board considered and approved the 2021 Work Plan for Consumer Protection.

Appendix: Biography of Mr. Zhang Weiwu

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

29 April 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. Zhang Weiwu

Mr. Zhang Weiwu, male, Chinese nationality, was born in December 1975.

Mr. Zhang Weiwu joined the Head Office of ICBC in July 1999, and was appointed as General Manager of ICBC (Europe) Amsterdam Branch in January 2011, General Manager of Singapore Branch in February 2013 and General Manager of the International Banking Department of the Head Office of ICBC in January 2017.

Mr. Zhang Weiwu graduated from the Northwest University in China and obtained Master's degree in Political Economy and MBA from Hitotsubashi University in Japan. He is a senior economist.

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