China CITIC Bank : ANNOUNCEMENT REGARDING THE APPROVAL OF ISSUANCE OF UNDATED CAPITAL BONDS

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

(Stock Code: 998)

ANNOUNCEMENT REGARDING THE APPROVAL OF

ISSUANCE OF UNDATED CAPITAL BONDS

Reference is made to the announcement of the voting results of China CITIC Bank Corporation Limited (the "Bank") on 30 October 2020. The second extraordinary general meeting of 2020 of the Bank reviewed and approved the Proposal regarding Issuance of Undated Capital Bonds.

Recently, the Bank received the Approval regarding the Issuance of Undated Capital Bonds by China CITIC Bank Corporation Limited from China Banking and Insurance Regulatory Commission (the "CBIRC") (Yin Bao Jian Fu [2021] No. 57) and the Decision of Approval of Administrative Licensing of the People's Bank of China (Yin Xu Zhun Yu Jue Zi [2021] No. 58) (the "Decision") issued by the People's Bank of China. The Bank has been approved for the issuance of undated capital bonds in the national inter-bank bond market in an amount up to RMB40 billion to replenish the additional tier-one capital of the Bank in accordance with relevant regulations. The approved quota is valid for 2 years from the date of the issuance of the Decision. Within the validity period, the time of the issuance can be chosen independently. After the issuance, undated capital bonds will be traded and circulated in the national inter-bank bond market in accordance with the relevant regulations of the People's Bank of China. The Bank will report the current bond issuance to the People's Bank of China within 10 working days after the end of each bond issuance, and will, within one month after the completion of the issuance of undated capital bonds, submit a formal written report to the CBIRC on the issuance and changes in the Bank's capital adequacy ratio.

Regarding the issuance of undated capital bonds, the Bank will fulfill its corresponding obligation of information disclosure in a timely manner in accordance with relevant regulatory requirements.

By order of the Board of Directors China CITIC Bank Corporation Limited

Fang Heying

Executive Director, President

Beijing, the PRC

23 March 2021

As at the date of this announcement, the executive directors of the Bank are Mr. Fang Heying (President), and Mr. Guo Danghuai; the non-executive directors are Mr. Cao Guoqiang, Ms. Huang Fang, and Mr. Wan Liming; and the independent non-executive directors are Mr. He Cao, Ms. Chen Lihua, Mr. Qian Jun, and Mr. Yan Lap Kei Isaac.