Bank of Communications : ANNOUNCEMENT APPROVAL ON THE QUALIFICATION OF DIRECTOR BY THE REGULATORY AUTHORITY

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Bank of Communications Co., Ltd.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 03328)

ANNOUNCEMENT

APPROVAL ON THE QUALIFICATION OF

DIRECTOR BY THE REGULATORY AUTHORITY

Reference is made to the announcement of Bank of Communications Co., Ltd. (the "Bank") dated 28 April 2020 and the circular of the Bank dated 12 May 2020 in relation to, among others, the proposed appointment of Mr. Liao, Yi Chien David ("Mr. Liao") as the non-executive director of the Bank.

The board of directors of the Bank (the "Board") hereby announces that the Bank has obtained the Approval from China Banking and Insurance Regulatory Commission (the "CBIRC") on the Qualification of Liao, Yi Chien David as Director of Bank of Communications (Yin Bao Jian Fu [2021] No. 345) today, in which the qualification of Mr. Liao as the non-executive director of the Bank was approved by the CBIRC with effect from 8 May 2021. With effect from 8 May 2021, Mr. Liao also serves as a member of the Personnel and Remuneration Committee of the Board.

By order of the Board of

Bank of Communications Co., Ltd.

Gu Sheng

Company Secretary

Shanghai, the PRC

11 May 2021

As at the date of this announcement, the directors of the Bank are Mr. Ren Deqi, Mr. Liu Jun, Mr. Li Longcheng*, Mr. Wang Linping*, Mr. Chang Baosheng*, Mr. Liao, Yi Chien David*, Mr. Chan Siu Chung*, Mr. Song Hongjun*, Mr. Chen Junkui*, Mr. Liu Haoyang*, Mr. Yeung Chi Wai, Jason#, Mr. Woo Chin Wan, Raymond#, Mr. Cai Haoyi#, Mr. Shi Lei#, Mr. Zhang Xiangdong# and Ms. Li Xiaohui#.

• Non-executivedirectors

• Independent non-executive directors