Bank of East Asia : Completion of redemption in respect of the U.S.$650,000,000 Undated Non-Cumulative Subordinated Additional Tier 1 Capital Securities issued by The Bank of East Asia, Limi

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state of the United States or other jurisdiction. The securities are being offered and sold outside the United States in reliance on Regulation S under the Securities Act and may not be offered or sold within the United States absent registration or an exemption from registration under the Securities Act. No public offering of the securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

The Bank of East Asia, Limited

東亞銀行有限公司

(incorporated in Hong Kong with limited liability in 1918)

(Stock Code: 23)

(the "Issuer")

Completion of redemption in respect of the

U.S.$650,000,000 Undated Non-Cumulative Subordinated Additional Tier 1 Capital Securities (the "Capital

Securities")

issued under the Issuer's U.S.$6,000,000,000 Medium Term Note Programme

(Stock Code: 5583)

Reference is made to the announcement of the Issuer dated 13th November, 2020 in relation to the notice of redemption of the Capital Securities.

The Issuer hereby announces that it has completed the redemption of the Capital Securities in full on 2nd December, 2020. Upon completion of the redemption, the Capital Securities have been cancelled. As of the date of this announcement, there are no outstanding Capital Securities in issue. Accordingly, the Issuer has applied to The Stock Exchange of Hong Kong Limited (the "Stock Exchange") for the Capital Securities to be delisted. Such withdrawal of listing from the Stock Exchange is expected to become effective upon the close of business on 10th December, 2020.

Hong Kong, 3rd December, 2020

As at the date of this announcement, the Board of Directors of the Bank comprises Dr. the Hon. Sir David LI Kwok-po# (Executive Chairman), Professor Arthur LI Kwok-cheung* (Deputy Chairman), Dr. Allan WONG Chi- yun** (Deputy Chairman), Mr. Aubrey LI Kwok-sing*, Mr. Winston LO Yau-lai*, Mr. Stephen Charles LI Kwok- sze*, Mr. Adrian David LI Man-kiu# (Co-Chief Executive), Mr. Brian David LI Man-bun# (Co-Chief Executive), Dr. Daryl NG Win-kong*, Mr. Masayuki OKU*, Dr. the Hon. Rita FAN HSU Lai-tai**, Mr. Meocre LI Kwok-wing**, Dr. the Hon. Henry TANG Ying-yen**, Dr. Delman LEE** and Mr. William Junior Guilherme DOO**.

• Executive Director

• Non-executiveDirector
• Independent Non-executive Director