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.

ZTE CORPORATION

中興通訊股份有限公司

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 763)

Overseas Regulatory Announcement

Announcement on the Information of the Issue of

2020 Tranche VIII and Tranche IX Super and Short-term Commercial Paper

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Company and all the members of the Board of Directors confirm that all the information contained in this announcement is true, accurate and complete and that there is no false and misleading statement or material omission in this announcement.

The issue of Super and Short-term Commercial Paper (the "SCP") of not more than RMB8 billion by ZTE Corporation (the "Company") was registered and approved by the National Association of Financial Market Institutional Investors (中國銀行間市場交易商協會) (the "NAFMII") pursuant to the "Notice of Admission for Registration" (Zhong Shi Xie Zhu [2019] No. SCP373) (《接受註冊通知書》(中市協注〔2019〕SCP373號)), the registered amount shall be valid for a period of 2 years from the date of the notice. The Company may issue SCP in different tranches during the effective term of registration. For details, please refer to the relevant announcement published by the Company on 10 October 2019.

On 31 August 2020, the Company completed the issue of 2020 Tranche VIII and Tranche IX SCP.

2020 Tranche VIII SCP issued at the nominal value of RMB100 each for an issue amount of RMB1 billion. The term of the Tranche VIII SCP shall be 92 days and interest shall be accruable from 31 August 2020 at an interest rate of 1.60 % and payable on 1 December 2020. 2020 Tranche VIII SCP is lead-underwritten by Ping An Bank Co., Ltd.

2020 Tranche IX SCP issued at the nominal value of RMB100 each for an issue amount of RMB1 billion. The term of the Tranche IX SCP shall be 92 days and interest shall be

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accruable from 31 August 2020 at an interest rate of 1.60 % and payable on 1 Decmeber 2020. 2020 Tranche IX SCP is lead-underwritten by China Everbright Bank Company Limited.

Proceeds raised through 2020 Tranche VIII and Tranche IX SCP were received in full on 31 August 2020 and will be applied to repay the bank financing of the Company.

For details of documents pertaining to the issue of 2020 Tranche VIII and Tranche IX SCP, please refer to the Company's announcement published on the website of Shanghai Clearing House (www.shclearing.com) and chinamoney.com (www.chinamoney.com.cn).

The total amount of SCP (including the 2020 Tranche VIII and Tranche IX SCP) issued by the Company but not due as at the date of 31 August 2020 is RMB 8 billion.

By Order of the Board

Li Zixue

Chairman

Shenzhen, the PRC

31 August 2020

As at the date of this announcement, the Board of Directors of the Company comprises three executive directors, Li Zixue, Xu Ziyang, Gu Junying; three non-executive directors, Li Buqing, Zhu Weimin, Fang Rong; and three independent non-executive directors, Cai Manli, Gordon Ng, Zhuang Jiansheng.

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ZTE Corporation published this content on 31 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2020 12:34:06 UTC