Industrial and Commercial Bank of China : Announcement on Change of Employee Supervisors

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Stock Code: 1398

EUR Preference Shares Stock Code: 4604

ANNOUNCEMENT ON CHANGE OF EMPLOYEE SUPERVISORS

On 15 September 2020, Mr. Wu Xiangjiang was elected as the employee supervisor of Industrial and Commercial Bank of China Limited (the "Bank") at the special meeting of the first session of employee representative assembly of the Bank. His term of office as the employee supervisor commences on 15 September 2020 for a term of three years.

Mr. Wu Xiangjiang, male, Chinese nationality, was born in September 1962. Mr Wu Xiangjiang has served as employee supervisor of the Bank since September 2020. He joined the Bank in 1988 and is currently the General Manager of Internal Control & Compliance Department of the Bank. He served such positions at the Bank as Deputy Head of Zhejiang Branch, General Manager of E-banking Department and General Manager of Internet Finance Department. He obtained a Doctorate degree in Management from Zhejiang University and is a senior economist.

Save as disclosed above, Mr. Wu Xiangjiang has not held any directorships in listed public companies in the last three years. Further, Mr. Wu Xiangjiang has no relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Bank and he has no interests in the shares of the Bank within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance. Pursuant to the Articles of Association of the Bank, the term of office of each supervisor is three years and supervisors are eligible for serving consecutive terms if re-elected upon expiry of his/her term of office. The details of remuneration of the supervisors are available in the Bank's annual reports and relevant announcements. Saved as disclosed above, there are no other matters relating to the election of Mr. Wu Xiangjiang that need to be brought to the attention of the shareholders of the Bank nor is there any information to be disclosed pursuant to any relevant regulatory requirements.

Due to his age, Mr. Hui Ping, an employee supervisor of the Bank, has tendered his resignation to the board of supervisors of the Bank on 15 September 2020, resigning from his position as employee supervisor of the Bank. Mr. Hui Ping has confirmed that he has no disagreement with the board of supervisors of the Bank and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders and creditors of the Bank.

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The board of supervisors of the Bank would like to express its welcome to Mr. Wu Xiangjiang for joining the board of supervisors of the Bank, and would like to express its sincere gratitude to Mr. Hui Ping for his contributions to the Bank during his tenure of service as employee supervisor.

The Board of Supervisors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

15 September 2020

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing, Mr. GU Shu and Mr. LIAO Lin as executive directors, Mr. LU Yongzhen, Mr. ZHENG Fuqing, Ms. MEI Yingchun, 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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