China Tower : Poll Results of Annual General Meeting and Payment of the Final Dividend

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China Tower Corporation Limited

中 國 鐵 塔 股 份 有 限 公 司

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

(Stock code: 0788)

POLL RESULTS OF ANNUAL GENERAL MEETING

AND PAYMENT OF THE FINAL DIVIDEND

We refer to the circular (the "Circular") and the notice of the annual general meeting (the "AGM") dated 30 March 2021 of China Tower Corporation Limited (the "Company"). Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the Circular.

Poll Results of the AGM

The Board is pleased to announce that the AGM was held on Wednesday, 12 May 2021 at Room 101, Building 12, China Tower Industrial Park, No. 9 Dongran North Street, Haidian District, Beijing, PRC. The number of issued shares of the Company as at the date of the AGM was 176,008,471,024, which was the total number of shares entitling the holders to attend and vote for or against any of the resolutions proposed at the AGM. There were no restrictions on any shareholders casting votes on any of the proposed resolutions at the AGM. The AGM was held in compliance with the requirements of the Company Law of the People's Republic of China and the articles of association of the Company.

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The poll results in respect of the proposed resolutions at the AGM were as follows:

	Ordinary Resolutions	No. of votes (%)
	For	Against
1.	THAT the consolidated financial statements of the Company,	144,284,155,589	55,070,050
	the report of the Board of Directors, the report of the	(99.961847%)	(0.038153%)
	Supervisory Committee and the report of the international
	auditors for the year ended 31 December 2020 be considered
	and approved, and the Board be authorized to prepare the
	budget of the Company for the year 2021.
	As more than 1/2 of the votes were cast in favour of this resolution, the resolution was duly passed as
	an ordinary resolution.
2.	THAT the profit distribution proposal and the final dividend	144,261,085,589	77,970,050
	declaration and payment for the year ended 31 December 2020	(99.945981%)	(0.054019%)
	be considered and approved.
	As more than 1/2 of the votes were cast in favour of this resolution, the resolution was duly passed as
	an ordinary resolution.
3.	THAT the re-appointment of PricewaterhouseCoopers and	144,155,199,429	183,856,210
	PricewaterhouseCoopers Zhong Tian LLP (Special General	(99.872622%)	(0.127378%)
	Partnership) as the international auditors and domestic
	auditors of the Company, respectively, for the year ending on
	31 December 2021 be considered and approved, and the Board
	be authorized to fix the remuneration of the auditors.
	As more than 1/2 of the votes were cast in favour of this resolution, the resolution was duly passed as
	an ordinary resolution.
4.	THAT the change of the registered office of the Company be	144,338,781,589	274,050
	considered and approved.	(99.999810%)	(0.000190%)
	As more than 1/2 of the votes were cast in favour of this resolution, the resolution was duly passed as
	an ordinary resolution.

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	Special Resolutions	No. of votes (%)
	For	Against
5.	THAT the amendments to the articles of association of	135,219,149,592	9,119,906,047
	the Company and the Rules of Procedure for the Board of	(93.681609%)	(6.318391%)
	Directors of the Company be considered and approved; and
	any director of the Company be authorized to undertake
	actions in his opinion as necessary or appropriate, so as to
	complete the approval and/or registration or filing of the
	amendments to the articles of association of the Company.
	As more than 2/3 of the votes were cast in favour of this resolution, the resolution was duly passed as
	a special resolution.
6.	Special resolution numbered 6 of the Notice of AGM (To	144,338,781,589	274,050
	grant a general mandate to the Board to issue debt financing	(99.999810%)	(0.000190%)
	instruments denominated in local or foreign currencies.)
	As more than 2/3 of the votes were cast in favour of this resolution, the resolution was duly passed as
	a special resolution.
7.	Special resolution numbered 7 of the Notice of AGM (To	132,671,022,937	11,665,032,702
	grant a general mandate to the Board to allot, issue and deal	(91.918144%)	(8.081856%)
	with additional shares in the Company not exceeding 20% of
	each of the existing domestic Shares and H Shares in issue
	and to authorize the Board to increase the registered capital of
	the Company and to amend the Articles of Association of the
	Company to reflect such increase in the registered capital of
	the Company under the general mandate.)
	As more than 2/3 of the votes were cast in favour of this resolution, the resolution was duly passed as
	a special resolution.

Computershare Hong Kong Investor Services Limited, the registrar of the Company's H Shares, acted as scrutineer for the vote-taking at the AGM.

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Payment of the Final Dividend

The final dividend of RMB0.02235 per share (equivalent to HK$0.026890 per share) (pre-tax) for the year ended 31 December 2020 was approved at the AGM. The payment shall be made to shareholders whose names appear on the register of members of the Company on Monday, 24 May 2021. The register of members will be closed from Wednesday, 19 May 2021 to Monday, 24 May 2021 (both days inclusive). In order to be entitled to the final dividend, H share Shareholders who have not registered the transfer documents are required to deposit the transfer documents together with the relevant share certificates at Computershare Hong Kong Investor Services Limited, at Shops 1712 - 1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong at or before 4:30 p.m. on Tuesday, 18 May 2021. Dividends will be denominated and declared in Renminbi. Dividends for holders of Domestic Shares and holders of H Shares (including enterprises and individuals) who invest in the H Shares of the Company listed on The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") through the Shanghai Stock Exchange or Shenzhen Stock Exchange (the "Southbound Trading") (the "Southbound Shareholders") will be paid in Renminbi, and dividends for H Share Shareholders other than the Southbound Shareholders will be paid in Hong Kong dollars. The relevant exchange rate will be the average of the central parity rates of RMB to Hong Kong dollars as announced by the People's Bank of China for the week prior to the date of approval of declaration of dividends at the AGM (i.e., RMB0.831180 equivalent to HK$1.00). The record date for entitlement to the shareholders' rights and the relevant arrangements of dividend distribution for Southbound Shareholders are the same as those for the Company's H Share Shareholders. The final dividend is expected to be paid on or about Wednesday, 30 June 2021 (the "Payment Date").

Under the requirements of the Law of the People's Republic of China on Enterprise Income Tax 《( 中華人民共和國企業所得稅法》), the Regulations for the Implementation of the Law of the People's Republic of China on Enterprise Income Tax 《( 中華人民共和國企業所得稅法實施條例》)

implemented in 2008, the Company has the obligation to withhold enterprise income tax at a rate of 10% on dividends when it pays the proposed final dividend for 2020 to its H share shareholders who are overseas non-resident enterprises (including HKSCC Nominees Limited, other institutional nominees and trustees, or other organizations or groups) listed on the H Share register of members on 24 May 2021.

According to the requirement under Guo Shui Han [2011] No. 348 issued by the State Administration of Taxation (國家稅務總局國稅函[2011]348號規定) and the relevant laws and

regulations, for individual H share shareholders who are Hong Kong or Macau residents and whose country of domicile is a country which has entered into a tax treaty with the PRC stipulating a dividend tax rate of 10%, the Company will withhold the individual income tax at the rate of 10%. For individual H share shareholders whose country of domicile is a country which has entered in to a tax treaty with the PRC stipulating a dividend tax rate lower than 10%, the Company will withhold the individual income tax at a tax rate of 10% of dividend. For individual H share shareholders whose country of domicile is a country which has entered into a tax treaty with the PRC stipulating a dividend tax rate higher than 10% but lower than 20%, the Company will withhold the individual income tax at the effective tax rate under the relevant tax treaty. For individual H share shareholders whose country of domicile is a country which has not entered into any tax treaties with PRC, or under any other circumstances, the Company will withhold and pay individual income tax at the rate of 20% on behalf of the individual H share shareholders.

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The Company will determine the country of domicile of the individual H share shareholders based on the registered address as recorded in the H share register of members of the Company on 24 May 2021. If the country of domicile of an individual H share shareholder is not the same as the registered address or if the individual H share shareholder would like to apply for a refund of the additional amount of tax finally withheld and paid, the individual H share shareholder shall notify and provide relevant supporting documents to the Company on or before 18 May 2021. Upon examination of the supporting documents by the relevant tax authorities, the Company will follow the guidance given by the tax authorities to implement relevant tax withholding and payment provisions and arrangements. Individual H share shareholders may either personally or appoint a representative to attend to the procedures in accordance with the requirements under the tax treaties notice if they do not provide the relevant supporting documents to the Company within the time period stated above.

For Southbound Investors (including enterprises and individuals), the Shanghai branch of China Securities Depository and Clearing Corporation Limited and the Shenzhen branch of China Securities Depository and Clearing Corporation Limited, as the nominees of the shareholders of the Southbound Trading, will receive all dividends distributed by the Company and will distribute the dividends to the relevant shareholders under the Southbound Trading through its depositary and

clearing system. According to the relevant provisions under the "Notice on Taxation Policies for Shanghai-Hong Kong Stock Connect Pilot Programme (Cai Shui [2014] No. 81) 《( 關於滬港股票 市場交易互聯互通機制試點有關稅收政策的通知(財稅[2014]81號)》)" and "Notice on Taxation

Policies for Shenzhen-HongKong Stock Connect Pilot Programme (Cai Shui [2016] No. 127) 《( 關 於深港股票市場交易互聯互通機制試點有關稅收政策的通知(財稅[2016]127號)》)", the Company

shall withhold individual income tax at the rate of 20% with respect to dividends received by the Mainland individual investors for investing in the H Shares of the Company listed on the Hong Kong Stock Exchange through the Southbound Trading. In respect of the dividends for the investment of Mainland securities investment funds in the H Shares of the Company listed on Hong Kong Stock Exchange through the Southbound Trading, the tax levied on dividends derived from such investment shall be ascertained by reference to the rules applicable to the treatment of individual income tax. The Company is not required to withhold income tax on dividends derived by the Mainland enterprise investors under the Southbound Trading, and such enterprises shall report the income and make tax payment by themselves. The record date for entitlement to the shareholders' rights and the relevant arrangements of dividend distribution for the Southbound Investors are the same as those for the Company's H share shareholders.

The Company assumes no responsibility and disclaims all liabilities whatsoever in relation to the tax status or tax treatment of the H share shareholders and for any claims arising from any delay in or inaccurate determination of the tax status or tax treatment of the H share shareholders or any disputes relating to the tax withholding and payment mechanism or arrangements.

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