China Power International Development : Issuance of RMB1 Billion SCP by Wu Ling Power in the PRC

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China Power International Development Limited

中 國 電 力 國 際 發 展 有 限 公 司

(incorporated in Hong Kong with limited liability)

(Stock Code: 2380)

Inside Information

Issuance of RMB1 Billion SCP by Wu Ling Power in the PRC

(the second tranche issue among the RMB2 billion SCP registered in 2020)

This announcement is made by China Power International Development Limited (the "Company", and together with its subsidiaries, collectively the "Group") pursuant to Rule

13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 18 August 2020 in relation to the issuance of super & short-term commercial paper (the "SCP") by Wu Ling Power Corporation* ("Wu Ling Power", a 63%-owned subsidiary of the Company) in the interbank bond market in the People's Republic of China (the "PRC") in an aggregate amount of RMB2 billion within an effective registration period of 2 years and the issuance of the first-tranche of the SCP for RMB1 billion.

On 10 May 2021, Wu Ling Power completed the issuance of the second tranche of the SCP named "2021-first-tranche-SCP" with the following principal terms.

Issuer:	Wu Ling Power Corporation*
Principal amount:	RMB1 billion
Unit face value:	RMB100
Coupon rate:	3.00% per annum
Maturity period:	260 days
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Guarantee:	Unsecured
Rating agency:	China Chengxin International Credit Rating Co., Ltd.
Credit rating:	Corporate credit rating of Wu Ling Power: AAA
	Rating outlook: Stable
Issue method:	Industrial and Commercial Bank of China Limited and
	Industrial Bank Co., Ltd. acted as the joint lead underwriters
	for the 2021-first-tranche-SCP which was publicly offered in
	the interbank bond market in the PRC by way of a
	book-building exercise.
Use of funds:	Proceeds will be used mainly for repayment of existing
	borrowings.

In connection with the issuance of the 2021-first-tranche-SCP, Wu Ling Power published an announcement in the PRC to provide investors with certain information concerning its terms and conditions, credit rating report and financial information (including its audited reports for the three financial years ended 31 December 2017, 2018 and 2019, and unaudited management accounts for the period ended 30 September 2020). The relevant documents have been disclosed on the websites at www.chinamoney.com.cnand www.shclearing.com.

* English or Chinese translation, as the case may be, is for identification only

By Order of the Board

China Power International Development Limited

He Xi

Chairman

Hong Kong, 10 May 2021

As at the date of this announcement, the directors of the Company are: executive director He Xi, non-executive directors Wang Xianchun and Zhou Jie, and independent non-executive directors Kwong Che Keung, Gordon, Li Fang and Yau Ka Chi.

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