Industrial and Commercial Bank of China : Appointment of Senior Executive Vice President

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Stock Code: 1398

EUR Preference Shares Stock Code: 4604

APPOINTMENT OF

SENIOR EXECUTIVE VICE PRESIDENT

The board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") resolved at the meeting of the Board held on 28 August 2020 that Mr. Xu Shouben be appointed as Senior Executive Vice President of the Bank. After the Board considered and approved Mr. Xu Shouben's appointment, the qualification is further subject to the approval of the China Banking and Insurance Regulatory Commission.

The biography of Mr. Xu Shouben is set out below: Mr. Xu Shouben, male, Chinese nationality, was born in April 1969. Mr. Xu joined Guangdong Branch of Industrial and Commercial Bank of China in April 1995. He was appointed as Deputy Head of Guangdong Branch in March 2011 and Head of the Shenzhen Branch in July 2015. Mr. Xu obtained a Doctorate degree in Economics from Sun Yat-sen University. His professional title is senior economist.

The remuneration of the senior management members of the Bank, including the Senior Executive Vice President, shall follow the relevant regulations. The relevant remuneration plan shall be considered by the compensation committee of the Board and subsequently considered and approved by the Board. The details of the remuneration of the senior management members of the Bank are available in the Bank's annual reports and relevant announcements.

Save as disclosed above, Mr. Xu Shouben has not held directorships in 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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Save as disclosed herein, there are no other matters relating to the appointment of Mr. Xu Shouben that need to be brought to the attention of the shareholders of the Bank nor is there any other information to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

28 August 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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