Oversea Chinese Banking : Notice of Redemption of US$1 billion 3.15% Subordinated Notes due 2023 Callable in 2018

OVERSEA-CHINESE BANKING CORPORATION LIMITED

(Incorporated in Singapore)

(Company Registration No. 193200032W)

NOTICE OF REDEMPTION

to the holders of

US$1,000,000,000 3.15% Subordinated Notes due 2023 Callable in 2018 issued under the US$10,000,000,000 Global Medium Term Note Program (ISIN Nos. US69033CAA71 and US69033DAA54) (the "Notes")

In accordance with Condition 5(d) of the terms and conditions of the Notes, irrevocable notice is hereby given to the holders of the Notes that Oversea-Chinese Banking Corporation Limited has elected to, and will, redeem all of the outstanding Notes on 12 March 2018 (the "Redemption Date"). The Notes will be subsequently cancelled and then de-listed from the Singapore Exchange Securities Trading Limited (the "SGX-ST") pursuant to the procedures of the SGX-ST. Terms used and not defined in this Notice of Redemption are used with the same meanings ascribed thereto in the terms and conditions of the Notes.

The redemption price (the "Redemption Price") for the Notes will be the Optional Redemption Amount, as set out in the pricing supplement dated 4 September 2012 in respect of the Notes.

On the Redemption Date, the Redemption Price for the Notes will become due and payable and interest shall (unless the Issuer defaults in the payment of the Redemption Price) cease to accrue on or after the Redemption Date.

In accordance with Condition 5(m) of the Notes, approval has been received from the Monetary Authority of Singapore for the redemption of the Notes.

Issued by

OVERSEA-CHINESE BANKING CORPORATION LIMITED

12 February 2018