Air China Limited announced that it has entered into agreement for a private placement of not more than 4,357,444,555 A Shares for gross proceeds of CNY 15,000,000,000 on August 2, 2022. The transaction will include participation from not more than 35 investors including returning investor China National Aviation Holding Company for gross proceeds of not more than CNY 5,500,000,000. The shares to be issued will have a hold period of 18 months and the shares to be subscribed by others Subscribers shall have a hold period of 6 months from date of issuance.

The transaction was approved by the board of directors of the company at its sixth meeting of the sixth directorate and subject to company's general meeting of shareholders and class shareholders, and the approval of the main body performing the duties of state-owned assets supervision and management, and the approval of the China Securities Regulatory Commission.