Industrial and Commrcl Bank of China : Announcement of the Resolution of the Board of Directors

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Stock Code: 1398

USD Preference Shares Stock Code: 4603

EUR Preference Shares Stock Code: 4604

RMB Preference Shares Stock Code: 84602

ANNOUNCEMENT OF THE RESOLUTION OF

THE BOARD OF DIRECTORS

A meeting of the board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was held at the Bank's head office at No. 55 Fuxingmennei Avenue, Xicheng District, Beijing on 8 December 2017. There were 16 directors eligible for attending the meeting, of whom 15 directors attended the meeting in person and 1 director attended the meeting by proxy. Mr. Gu Shu, Vice Chairman of the Board, appointed Mr. Yi Huiman, Chairman of the Board, to attend the meeting and exercise the voting right on his behalf. Mr. Guan Xueqing, the Board Secretary, attended the meeting. Members of the board of supervisors were in attendance at the meeting. The meeting was convened in compliance with the provisions of the laws, regulations, the Articles of Association of Industrial and Commercial Bank of China Limited and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited. Mr. Yi Huiman, Chairman of the Board, presided over the meeting and the directors attending the meeting considered and approved the Proposal on the Amendment to the Fundamental Provisions for Corporate Social Responsibility of Industrial and Commercial Bank of China. The voting result of this proposal is as follows: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

The Bank has been actively performing its corporate social responsibility since its listing. It is the first Chinese commercial bank that has joined the United Nations Global Compact, and one of the first banks in the world that disclose corporate social responsibility reports in accordance with the Global Reporting Initiative (GRI) table 4.0. The Bank has been named as a constituent stock of the Hong Kong Hang Seng (China A) Corporate Sustainability Index for 7 consecutive years.

To further improve its corporate social responsibility work mechanism, the Bank has amended the Fundamental Provisions for Corporate Social Responsibility of Industrial and Commercial Bank of China in accordance with applicable laws, regulations and the Environmental, Social and Governance Reporting Guide of The Stock Exchange of Hong Kong Limited. This amendment further establishes the "Three-Center, Six-Dimension" fundamental framework for corporate social responsibility featuring "Environmental Friendliness, Responsibility First, Sound Governance" as core values and "Value, Brand, Green, Integrity, Harmony and Charity" as six philosophies to effectively implement new regulatory rules, continuously promote inclusive finance, targeted poverty alleviation and green finance, and fully protect the legal interests of shareholders, customers, employees, community and other stakeholders.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

8 December 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, Mr. ZHENG Fuqing, Mr. FEI Zhoulin, Mr. CHENG Fengchao, Ms. MEI Yingchun, Mr. DONG Shi and Mr. YE Donghai as non-executive directors, Mr. OR Ching Fai, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR and Mr. SHEN Si as independent non-executive directors.