Industrial and Commercial Bank of China : Announcement of 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

On 8 July 2021, a meeting of the Board of Directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was convened by way of written resolution. The convocation of the meeting and the procedures of considering the proposals were in compliance with the requirements under the Articles of Association of Industrial and Commercial Bank of China Limited (the "Articles"), the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited and the relevant laws and regulations. The proposals stated below were considered and approved at the meeting:

1. Proposal on the Nomination of Mr. Wang Jingwu as Candidate of Executive Director of Industrial and Commercial Bank of China Limited

Voting result of this proposal: 11 valid votes, 11 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

The Board, in compliance with the Company Law of the People's Republic of China, relevant laws and regulations and the relevant requirements including the Articles, and taking into account the work requirements of the Board, resolved that Mr. Wang Jingwu be nominated as a candidate for Executive Director of the Bank. The election of Mr. Wang Jingwu as Executive Director of the Bank is subject to consideration and approval of the general meeting of shareholders of the Bank. After having obtained the approval of the general meeting of shareholders of the Bank, the qualification is further subject to the approval of the China Banking and Insurance Regulatory Commission ("CBIRC"). The qualification of Mr. Wang Jingwu as Executive Director of the Bank will take effect on the date when the approval from the CBIRC is obtained. The biography of Mr. Wang Jingwu is set out in the Appendix.

As at the date of this announcement, Mr. Wang Jingwu has not held directorships in any listed companies in the last three years, he does not have any relationship with directors, other senior management, 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.

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Opinion of Independent Directors on this proposal: Agree.

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

2. Proposal to Convene the First Extraordinary General Meeting 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.

The first extraordinary general meeting of 2021 of the Bank is proposed to be held on 29 July 2021. Details are available in the notice of the first extraordinary general meeting of 2021 to be separately published by the Bank.

Appendix: Biography of Mr. Wang Jingwu

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

8 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. Wang Jingwu

Wang Jingwu, male, Chinese nationality, born in April 1966.

Mr. Wang Jingwu joined the People's Bank of China (PBC) in August 1985. He was appointed as Supervision Commissioner (Deputy Director level) of the PBC Shijiazhuang Central Sub-branch in January 2002, Head of the PBC Shijiazhuang Central Sub-branch and concurrently Director of State Administration of Foreign Exchange (SAFE) Hebei Branch in September 2003, Head of the PBC Hohhot Central Sub-branch and concurrently Director of SAFE Inner Mongolia Branch in December 2009, Head of the PBC Guangzhou Branch and concurrently Director of SAFE Guangdong Branch in June 2012, Director-General of the PBC Financial Stability Bureau in December 2018, and Senior Executive Vice President of ICBC in April 2020.

He received a doctorate degree in economics from Xi'an Jiaotong University. His professional title is research fellow.

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