China Merchants Securities : PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

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招 商 銀 行 股 份 有 限 公 司

CHINA MERCHANTS BANK CO., LTD.

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

(H Share Stock Code: 03968)

(Preference Share Stock Code: 04614)

PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

Since Mr. Li Jianhong had resigned as the Chairman, Non-Executive Director, Chairman of the Strategy Committee of the board of directors (the "Board") and member of the Nomination Committee of the Board of China Merchants Bank Co., Ltd. (the "Company" or "China Merchants Bank") due to change of work arrangement, a meeting of the Board of the Company was convened on 18 August 2020, at which, the "Resolution regarding the Nomination of Mr. Miao Jianmin as a Non-Executive Director" was considered and unanimously approved:

1. The nomination of Mr. Miao Jianmin as a Non-Executive Director of the eleventh session of the Board was agreed, and his term shall last until the expiry of the eleventh session of the Board. This resolution will be submitted for consideration at the 2020 first extraordinary general meeting, and the appointment qualification of Director will be submitted to China Banking and Insurance Regulatory Commission (the "CBIRC") for approval after the resolution being considered and approved at the general meeting.
2. In accordance with the relevant requirements of the Articles of Association of China Merchants Bank Co., Ltd., in order to ensure the soundness of corporate governance of the Company and the Company's normal operation, Mr. Li Jianhong will continue to perform the duties as the Chairman, Non-Executive Director, Chairman of the Strategy Committee of the Board and member of the Nomination Committee of the Board until the date on which the qualifications for the new Non-Executive Director elected at the general meeting of the Company and the new Chairman elected at the Board meeting are approved by the CBIRC.

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The biographical details of Mr. Miao Jianmin are set out below:

Mr. Miao Jianmin was born in 1965, holds a doctorate in economics and he is an alternate member of the nineteenth Central Committee of the Communist Party of China. Mr. Miao is currently the chairman of China Merchants Group Ltd.. Mr. Miao was the vice chairman and president of China Life Insurance (Group) Company, the vice chairman, president and chairman of The People's Insurance Company (Group) of China Limited, the chairman of PICC Property and Casualty Company Limited, the chairman of PICC Asset Management Company Limited, the chairman of PICC Health Insurance Company Limited, the chairman of The People's Insurance Company of China (Hong Kong), Limited, the chairman of PICC Capital Investment Management Company Limited, the chairman of PICC Pension Company Limited and the chairman of PICC Life Insurance Company Limited.

If Mr. Miao is appointed as a Non-Executive Director of the Company, Mr. Miao will not receive any remuneration. Save as disclosed above, Mr. Miao does not hold any director or supervisor position in any other listed public companies, nor has any other major appointment or qualification during the past three years. Save as disclosed above, Mr. Miao does not have any relationship with any other directors, supervisors or senior management or other substantial shareholders of the Company.

As at the date of this announcement, Mr. Miao does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), nor has he been penalised by the PRC securities regulatory authority and other departments or punished by any stock exchange.

In addition, there is no other information in relation to the proposed appointment of Mr. Miao as the Non-Executive Director of the Company shall be disclosed or matters which would require disclosure under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Save for the above, there is no other matter that needs to be brought to the attention of the shareholders of the Company.

A circular of the general meeting in relation to the election of Mr. Miao as a Non-Executive Director of the Company, notice of the general meeting together with the proxy form for the general meeting are expected to be despatched to the H shareholders of the Company subsequently.

By Order of the Board

China Merchants Bank Co., Ltd.

Liu Jianjun Ho Wing Tsz Wendy

Joint Company Secretaries

18 August 2020

As at the date of this announcement, the executive directors of the Company are Tian Huiyu, Liu Jianjun and Wang Liang; the non-executive directors of the Company are Li Jianhong, Fu Gangfeng, Zhou Song, Hong Xiaoyuan, Zhang Jian, Su Min, Wang Daxiong and Luo Sheng; and the independent non-executive directors of the Company are Leung Kam Chung, Antony, Zhao Jun, Wong See Hong, Li Menggang, Liu Qiao and Tian Hongqi.

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