Industrial and Coml Bank of China : Announcement on the Retirement of Non-executive Director

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Mr. Fu Zhongjun, a non-executive director of Industrial and Commercial Bank of China Limited (the "Bank"), has ceased to act as a non-executive director of the Bank as well as member of the Strategy Committee and member of the Compensation Committee of the board of directors of the Bank (the "Board") since 25 January 2017 due to expiration of his term of office. Mr. Fu Zhongjun has confirmed that he has no disagreement with the Board and there are no matters relating to his retirement that need to be brought to the attention of the shareholders and creditors of the Bank.

Mr. Fu Zhongjun performed his duties diligently and conscientiously since he joined the Board and has made important contributions in areas including corporate governance, operation of the Board, development strategy, as well as international and diversified development of the Bank. The Board would like to express its sincere gratitude to Mr. Fu Zhongjun for his contributions to the Bank during his tenure of service.

Beijing, PRC

25 January 2017

As at the date of this announcement, the board of directors comprises Mr. YI Huiman, Mr. GU Shu, Mr. ZHANG Hongli and Mr. WANG Jingdong as executive directors, Ms. WANG Xiaoya, Ms. GE Rongrong, Mr. ZHENG Fuqing, Mr. FEI Zhoulin and Mr. CHENG Fengchao as non-executive directors, 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.