Industrial and Commrcl Bank of China : Announcement on the Approval of the Qualification of Director by the CBRC

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The first extraordinary general meeting for the year 2016 of Industrial and Commercial Bank of China Limited (the "Bank") held on 29 November 2016 elected Ms. Sheila Colleen Bair as an Independent Non-executive Director of the Bank. The Bank has recently received the "China Banking Regulatory Commission's Approval in relation to the Qualification of Sheila Colleen Bair of Industrial and Commercial Bank of China" (Yin Jian Fu [2017] No. 102). Pursuant to the relevant requirements, the qualification of Ms. Sheila Colleen Bair as an Independent Non- executive Director of the Bank has been approved by the China Banking Regulatory Commission (the "CBRC"). The Bank would like to welcome Ms. Sheila Colleen Bair as a member of the board of directors of the Bank (the "Board").

Please refer to the circular of the Bank dated 14 October 2016 for the biography of Ms. Sheila Colleen Bair. Save as disclosed herein, there are no other matters relating to the appointment of Ms. Sheila Colleen Bair that need to be brought to the attention of the shareholders or the creditors of the Bank nor is there any information to be disclosed pursuant to other regulatory requirements.

Pursuant to the laws and regulations and the relevant provisions of the articles of association of the Bank, Mr. Kenneth Patrick Chung has ceased to act as an Independent Non-executive Director of the Bank as well as posts of the relevant special committees of the Board due to expiration of his term of office. Mr. Kenneth Patrick Chung has confirmed that he has no disagreement with the Board and there are no matters relating to his departure that need to be notified to the shareholders or the creditors of the Bank.

Mr. Kenneth Patrick Chung 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, risk control, as well as international and diversified development strategy of the Bank. The Board would like to express its sincere gratitude to Mr. Kenneth Patrick Chung for his contributions to the Bank during his tenure of service.

Beijing, PRC 27 March 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. OR Ching Fai, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun and Ms. Sheila Colleen BAIR as independent non-executive directors.