Industrial and Commercial Bank of China : Announcement on the Approval of the Qualifications of Vice Chairman and President by the CBIRC

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

EUR Preference Shares Stock Code: 4604

USD Preference Shares Stock Code: 4620

ANNOUNCEMENT ON THE APPROVAL OF

THE QUALIFICATIONS OF

VICE CHAIRMAN AND PRESIDENT BY THE CBIRC

The board of directors of Industrial and Commercial Bank of China Limited (the "Bank") elected Mr. Liao Lin as Vice Chairman of the Bank and to concurrently serve as Authorized Representative of the Bank, and approved the appointment of Mr. Liao Lin as President of the Bank on 25 February 2021. Today, the Bank received the "China Banking and Insurance Regulatory Commission's Approval in relation to the Qualifications of Liao Lin of Industrial and Commercial Bank of China" (Yin Bao Jian Fu [2021] No. 190). Pursuant to the relevant requirements, the qualifications of Mr. Liao Lin as Vice Chairman and President of the Bank have been approved by the China Banking and Insurance Regulatory Commission (the "CBIRC"). The appointments of Mr. Liao Lin as Vice Chairman, President, Authorized Representative of the Bank and the chairman and member of the Corporate Social Responsibility and Consumer Protection Committee, member of the Strategy Committee and member of the Nomination Committee of the board of directors have become effective.

Please refer to the Announcement of the Resolutions of the Board of Directors dated 25 February 2021 for the biography of Mr. Liao Lin.

The Bank would like to extend its warm welcome to Mr. Liao Lin in assuming the offices of the Vice Chairman and President of the Bank.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

16 March 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.