Bank of Communications : POLL RESULTS OF THE 2021 FIRST EXTRAORDINARY GENERAL MEETING HELD ON WEDNESDAY, 24 MARCH 2021

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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)

POLL RESULTS OF

THE 2021 FIRST EXTRAORDINARY GENERAL MEETING

HELD ON WEDNESDAY, 24 MARCH 2021

The board of directors (the "Board") of Bank of Communications Co., Ltd. (the "Bank") is pleased to announce that the 2021 first extraordinary general meeting (the "EGM") was held at Bocom Financial Tower, No. 188 Yincheng Zhong Lu, Shanghai, the People's Republic of China (the "PRC") at 9:00 a.m. on Wednesday, 24 March 2021.

At the EGM, the proposed resolutions set out in the notice of the EGM dated 3 February 2021 were voted by poll.

POLL RESULTS OF THE EGM

The poll results in respect of the resolutions proposed at the EGM are as follows:

Number of Valid Votes (share, %)

Ordinary Resolution

For

Against

Abstained

To consider and, if thought fit, to approve the proposal regarding the Capital Management Plan (2021-2025) of Bank of Communications Co., Ltd.

As more than one-half (1/2) of the votes were cast in favour of this resolution, the resolution was duly passed as an ordinary resolution.

To consider and, if thought fit, to approve the issuance of qualified write-down tier 2 capital bonds with an aggregate amount of no more than RMB140 billion or foreign currency equivalent, and the authorization to the Board as well as the Board's delegation to the senior management or its authorized representative to deal with the specific matters pursuant to the proposal in respect of the issuance of tier 2 capital bonds as set out in the Bank's notice of EGM dated 3 February 2021.

Number of Valid Votes (share, %)For

Against

Abstained

As more than two-thirds (2/3) of the votes were cast in favour of this resolution, the resolution was duly passed as a special resolution.

As at the date of the EGM, total number of shares entitling its holders to attend and vote on the resolutions proposed at the EGM was 74,262,726,645 shares. No shareholders of the Bank were entitled to attend but were required to abstain from voting in favour of the proposed resolutions at the EGM pursuant to Rule 13.40 of the Rules Governing the Listing of Securities (the "Hong Kong Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") and no shareholders were required pursuant to the Hong Kong Listing Rules to abstain from voting at the EGM.

Shareholders and authorized proxies holding an aggregate of 50,733,943,040 shares, representing 68.316833% of the total number of shares entitling their holders to attend and vote on the resolutions proposed at the EGM, were present at the EGM. The EGM was chaired by Mr. Ren Deqi, chairman of the Board.

SCRUTINEER AND LAWYERS' CERTIFICATION

In compliance with the requirements of the Hong Kong Listing Rules, Computershare Hong Kong Investor Services Limited, the Bank's H share registrar and transfer office, acted as scrutineer for the vote-taking at the EGM. Ms. Wu Tiehong and Mr. Zhou Shilin as shareholder representatives and Mr. Guan Xingshe as a supervisor of the Bank and Ms. Li Kaiye, the lawyer from Grandall Law Firm (Shanghai), the PRC legal advisor of the Bank, jointly participated in the vote counting and scrutiny at the EGM.

Ms. Li Kaiye, the lawyer from Grandall Law Firm (Shanghai), witnessed the EGM and issued a legal opinion certifying that the convening and procedures of the EGM comply with the requirements of the laws, regulations and the articles of association of the Bank; the qualifications of the attendeesand the convener of the EGM are legal and valid; the voting process of the EGM complies with the requirements of the laws, regulations and the articles of association of the Bank and the voting results are lawful and valid.

By order of the Board of Bank of Communications Co., Ltd.

Gu Sheng

Company Secretary

Shanghai, the PRC

24 March 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. 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-executive directors

#

Independent non-executive directors