Industrial and Commrcl Bank of China : Proposed Appointment of Directors

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The board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") announces that Mr. Ye Donghai, Ms. Mei Yingchun and Mr. Dong Shi have been nominated as candidates for Non-executive Directors.

The Board resolved at the meeting of the Board convened on 29 to 30 March 2017 that Mr. Ye Donghai, Ms. Mei Yingchun and Mr. Dong Shi be nominated as candidates for Non-executive Directors of the Bank. The appointment of Mr. Ye Donghai, Ms. Mei Yingchun and Mr. Dong Shi as Non-executive Directors is subject to the consideration and approval at the shareholders' general meeting of the Bank, and subject to the approval by the China Banking Regulatory Commission (the "CBRC"). Their terms of office as Non-executive Directors of the Bank will commence on the date when the approval from the CBRC has been obtained. A circular which includes, among other things, a notice of shareholders' general meeting will be despatched to shareholders as soon as practicable.

The biographies of the aforementioned candidates for directorship are set out below:

Ye Donghai, male, Chinese nationality, was born in October 1963. Mr. Ye Donghai took office as General Manager of the Audit Department of China Everbright Bank in January 2007 and concurrently as Employee Supervisor in the board of supervisors of China Everbright Bank in November 2012. Mr. Ye Donghai previously worked as Section Chief and Deputy Director General of the Finance Division of Beijing Normal University, Assistant General Manager (Deputy General Manager level) of the Planning and Finance Department of China Everbright Bank in October 1993, Deputy General Manager of the Finance and Accounting Department of China Everbright Bank (in charge of the department's work) in February 1995, Vice President and member of the CPC Committee of China Everbright Bank Tianjin Branch in June 2001, General Manager of the Audit Department of China Everbright Bank (in charge of the department's work) in July 2004 and General Manager of the Audit Department of China Everbright Bank in May 2005. Mr. Ye Donghai graduated from Renmin University of China and obtained a Master's degree in Economics. He is a senior accountant.

Mei Yingchun, female, Chinese nationality, was born in January 1971. Ms. Mei Yingchun joined the Ministry of Finance in August 1992 and consecutively worked in the World Bank Department, the Treasury Department and the Tariff Policy Department. She previously worked as Assistant Consultant of the Budget Implementation Division, the Treasury Department in November 2003; Assistant Consultant of the Audit & Supervision Division, the Treasury Payment Centre in September 2004; Deputy Director of the Audit & Supervision Division, the Treasury Payment Centre in October 2005; Director of the Audit & Supervision Division, the Treasury Payment Centre in September 2007. She took office as Deputy Director-General of the Tariff Policy Department (Tariff Policy Research Centre) in November 2011, and was seconded to the World Bank Group as Senior Advisor from September 2014 to September 2016, worked in the Development Partner Relationship Department, Development Finance Unit, International Development Association for the first year, and then worked in the Vice-President Front Office of East Asia and Pacific Region, International Bank for Reconstruction and Development for the second year. Ms. Mei Yingchun obtained a Master's degree in International Affairs from School of International and Public Affairs of Columbia University, and a Ph.D in Economics from Chinese Academy of Fiscal Science (formerly known as the Institute of Fiscal Science, Ministry of Finance).

Dong Shi, male, Chinese nationality, was born in March 1965. Mr. Dong Shi took office as Non- executive Director of China Construction Bank Corporation in September 2011. He previously worked as Deputy Division Chief of the Audit and Supervision Bureau of the People's Bank of China from July 1988 to July 1998, made a study visit to the US Federal Reserve in 1994 and Royal Melbourne Institute of Technology in 1996, consecutively worked as Assistant Special Inspector of the State Council, Division Chief of the Supervisory Committee of the Working Commission of Central Level State-Owned Enterprises, and Deputy Head of the Foreign Affairs Bureau of the State-Owned Assets Supervision and Administration Commission from August 1998 to September 2008, and worked as Director of China Reinsurance (Group) Corporation and Director of China Reinsurance Asset Management Co., Ltd. from October 2008 to August 2011. Mr. Dong Shi graduated from Renmin University of China and obtained a Master's degree in Economic Law. He is a senior economist and an accountant.

According to the Articles of Association of the Bank, the term of office of each director is three years, and a director is eligible for re-election upon the expiry of his/her term. Non-executive Directors (excluding Independent Non-executive Directors) will not receive remuneration from the Bank during their terms of office, their remuneration shall be paid by Central Huijin Investment Company Limited. The details of the remuneration of the directors of the Bank are available in the Bank's annual reports.

As at the date of this announcement, save as disclosed above, each of Mr. Ye Donghai, Ms. Mei Yingchun and Mr. Dong Shi has not held any other directorships in any listed companies, and position in the Bank or the subsidiaries of the Bank in the last three years. In addition, saved as disclosed above, each of them does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Bank, nor do they hold any interests in the shares of the Bank within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance.

Save as disclosed herein, there are no other matters relating to the nomination of Mr. Ye Donghai, Ms. Mei Yingchun and Mr. Dong Shi that need to be brought to the attention of the shareholders of the Bank nor is there any other information to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Listing Rules.

Beijing, PRC 30 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.