Industrial and Commercial Bank of China : Announcement on the Release of ECOS

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.

Stock Code: 1398

USD Preference Shares Stock Code: 4603

EUR Preference Shares Stock Code: 4604

RMB Preference Shares Stock Code: 84602

ANNOUNCEMENT ON THE RELEASE OF ECOS

On 8 November 2019, Industrial and Commercial Bank of China Limited (the "Bank") officially releases ECOS in Beijing. ECOS is named after the initial four letters of Ecosystem, of which, E represents "Enterprise-level", C represents "Customer-centred", O represents "Open", S represents "Smart".

In recent years, the Bank is committed to the group's cross-border,cross-industry and cross-sector transformation and development, and actively pushes forward the construction of smart banking. Based on the construction of ECOS, the Bank takes the whole-group perspective and has reorganized the business structure and set up a new system of intra-group product consolidation, information sharing, process coordination and channel synchronization; centering on customers, the Bank actively pushes forward the transformation of the customer development concept to "serving the broadest customer base", and is dedicated to providing customers with low-cost, high- efficiency and individualized services; relying on the self-owned three platforms i.e. ICBC Mobile, ICBC Link and ICBC Mall as the keystones and using the API open platform and ICBC Finance Cloud Platform as grasping points for cross-sector cooperation, to construct "Finance Plus" hotspot scenarios and build an open, cooperative and win-win financial ecosphere; following the FinTech development trend, to comprehensively lay out in advanced technology areas such as artificial intelligence, blockchain, cloud computation, big data, internet of things, the Bank has researched on and developed a series of FinTech platforms with core intellectual property rights, for shaping a brand-new ecosystem with in-depth integration of finance and technology.

1

For the next step, the Bank will follow the concept of "technology-leading,innovation-energizing" and, by way of intelligent technologies, to construct open ecosphere, further satisfy the new demands for financial services from the real economy and the public which will provide stronger momentum for the Bank to enhance its service for the real economy, implement the business transformation and forge the customers' favorite bank.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

8 November 2019

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing, Mr. GU Shu and Mr. HU Hao as executive directors, Mr. YE Donghai, Mr. ZHENG Fuqing, Ms. MEI Yingchun, Mr. DONG Shi, and Mr. LU Yongzhen as non-executive directors, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR, Mr. SHEN Si, Mr. Nout WELLINK and Mr. Fred Zuliu HU as independent non-executive directors.

2