Industrial and Coml Bank of China : Announcement on Change of Employee Supervisors

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On 23 June 2016, Mr. Huang Li was elected as the employee supervisor of Industrial and Commercial Bank of China Limited (the "Bank") at the special meeting of the employee representatives of the Bank. His term of office commences on 23 June 2016 for a term of three years.

Mr. Huang Li, male, Chinese, was born in June 1964. Mr. Huang joined the Bank in 1994, and he is currently the General Manager of Internal Control and Compliance Department of the Bank. He served as Deputy General Manager then General Manager of Banking Department of Guizhou Branch of the Bank, and Vice President then President of Guizhou Branch of the Bank between December 1998 and July 2015. He obtained a Master's degree in Business Administration from the University of Hong Kong and is a senior economist.

Save as disclosed above, Mr. Huang Li has not held any directorships in any listed public companies in the last three years. Further, Mr. Huang Li has no relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Bank and he has no interests in the shares of the Bank within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance. Pursuant to the Articles of Association of the Bank, the term of office of each supervisor is three years and supervisors are eligible for serving consecutive terms if re-elected upon expiry of his/her term of office. The details of remuneration of the supervisors are available in the Bank's annual reports. Saved as disclosed above, there are no other matters relating to the election of Mr. Huang Li that need to be brought to the attention of the shareholders of the Bank nor is there any information to be disclosed pursuant to any relevant regulatory requirements.

Due to change of job assignment, Mr. Zhang Wei, an employee supervisor of the Bank, has tendered his resignation to the board of supervisors of the Bank on 28 April 2016, resigning from his position as employee supervisor and member of the supervision committee of the board of supervisors of the Bank. Pursuant to Article 186 of the Articles of Association of the Bank, Mr. Zhang Wei continued to perform his duties as supervisor and member of the supervision committee of the board of supervisors until the appointment of the new employee supervisor (that is, until 23 June 2016). Mr. Zhang Wei has confirmed that he has no disagreement with the board of supervisors of the Bank

and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders and creditors of the Bank.

The board of supervisors of the Bank would like to express its welcome to Mr. Huang Li for joining the board of supervisors of the Bank, and would like to express its sincere gratitude to Mr. Zhang Wei for his contributions to the Bank during his tenure of service as employee supervisor.

Beijing, PRC 23 June 2016

As at the date of this announcement, the board of directors comprises Mr. YI Huiman, Mr. ZHANG Hongli and Mr. WANG Xiquan as executive directors, Ms. WANG Xiaoya, Ms. GE Rongrong, Mr. FU Zhongjun, Mr. ZHENG Fuqing, Mr. FEI Zhoulin and Mr. CHENG Fengchao as non-executive directors, Sir Malcolm Christopher McCARTHY, Mr. Kenneth Patrick CHUNG, Mr. OR Ching Fai, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH and Mr. YANG Siu Shun as independent non-executive directors.