CITIC Securities : ANNOUNCEMENT ON THE RESOLUTIONS PASSED AT THE FIRST MEETING OF THE SEVENTH SESSION OF THE BOARD AND THE FIRST MEETING OF THE SEVENTH SESSION OF THE SUPERVISORY COMMITTEE

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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

(Stock Code: 6030)

ANNOUNCEMENT ON THE

RESOLUTIONS PASSED AT THE FIRST MEETING OF THE SEVENTH SESSION OF THE BOARD AND THE FIRST MEETING OF THE SEVENTH SESSION OF THE SUPERVISORY COMMITTEE

THE FIRST MEETING OF THE SEVENTH SESSION OF THE BOARD

CITIC Securities Company Limited (the "Company") is pleased to announce that the first meeting of the Seventh Session of the board of directors of the Company (the "Board") was held on 31 December 2019 for the purpose of the election of the Chairman of the Seventh Session of the Board, the establishment of the special committees under the Seventh Session of the Board and the appointment of senior management of the Company. Details are as follows:

1. ELECTION OF THE CHAIRMAN OF THE BOARD
   The Board resolved to re-elect Mr. ZHANG Youjun as the Chairman of the Company, with a term of office from the date of approval by the Board to the expiration date of the term of office of the Seventh Session of the Board.
   Biography details of Mr. ZHANG Youjun are set out as follows:
   Mr. ZHANG Youjun, aged 54, serves as secretary to the Communist Party Committee of the Company, an executive director, Chairman and member of the Executive Committee of the Company. Mr. ZHANG joined the Company at the time of the establishment of the Company in 1995, and was appointed as an executive director of the Company on 19 January 2016. During the same term, he was elected as the Chairman of the Company. Mr. ZHANG also serves as assistant to the general manager of each of CITIC Group Corporation, CITIC Limited and CITIC Corporation Limited, the chairman of GoldStone Investment Co., Ltd., a director of CITIC Securities International Co., Ltd., and the chairman of CLSA (i.e. CLSA B.V. and its subsidiaries). Mr. ZHANG had worked as a general manager of the trading department of the Company, an assistant manager and deputy general manager of the Company since 1995, and was appointed as a director of the Company from September 1999 to June 2012 and the general manager of the Company from May 2002 to October 2005. Mr. ZHANG previously worked

1

as the general manager of Changsheng Fund Management Co., Ltd. from 1998 to 2001 and successively served as the general manager and the chairman of CSC Financial Co., Ltd. from 2005 to 2011 and a director of the board office of CITIC Group Corporation from December 2011 to December 2015. Mr. ZHANG obtained a Bachelor's degree in economics (majoring in money and banking) in 1987 from Renmin University of China and a Master's degree in economics (majoring in money and banking) in 1990 from Central University of Finance and Economics.

1. ESTABLISHMENT OF THE SPECIAL COMMITTEES UNDER THE SEVENTH SESSION OF THE BOARD
   The Board resolved to establish the following special committees under the Seventh Session of the Board and to appoint the chairman and members of each committee:
   Strategic Planning Committee
   Chairman: Mr. ZHANG Youjun
   Members: Mr. YANG Minghui, Mr. LIU Ke
   Risk Management Committee
   Chairman: Mr. YANG Minghui
   Members: Mr. HE Jia, Mr. LIU Shouying
   Nomination Committee
   Chairman: Mr. LIU Ke
   Members: Mr. ZHANG Youjun, Mr. HE Jia, Mr. LIU Shouying
   Audit Committee
   Chairman: Mr. ZHOU Zhonghui
   Members: Mr. LIU Ke, Mr. HE Jia, Mr. LIU Shouying
   Remuneration and Appraisal Committee
   Chairman: Mr. LIU Ke
   Members: Mr. HE Jia, Mr. ZHOU Zhonghui
   Related Party Transactions Control Committee
   Chairman: Mr. HE Jia
   Members: Mr. LIU Ke, Mr. ZHOU Zhonghui
   The term of office of each of the chairmen and members of the above-mentioned committees will be from the date of approval by the Board to the expiration date of the term of office of the Seventh Session of the Board, except that the appointment of Mr. LIU Shouying is still subject to the approval by the securities regulatory authority on his qualification.

2

According to Rules of Procedure of the Risk Management Committee of the Company, the Risk Management Committee consists of no less than three directors. Since the appointment of Mr. LIU Shouying is still subject to the approval by the securities regulatory authority on his qualification, prior to that, Mr. ZHOU Zhonghui, an independent non-executive director of the Company, will temporarily serve as a member of the Risk Management Committee of the Company until Mr. LIU Shouying obtains the approval from the securities regulatory authority on his qualification.

1. APPOINTMENT OF SENIOR MANAGEMENT
   The Board also resolved to re-appoint Mr. ZHANG Youjun, Mr. YANG Minghui, Mr. MA Yao, Mr. XUE Jirui, Mr. YANG Bing, Mr. LI Chunbo, Mr. ZOU Yingguang and Mr. LI Yongjin as members of the Executive Committee of the Company; to re-appoint Mr. YANG Minghui as President of the Company; to re-appoint Mr. LI Jiong as Chief Financial Officer and the treasurer of the Company; to re-appoint Mr. SONG Qunli as Chief Engineer (Chief Information Officer) of the Company; to re-appoint Mr. ZHANG Hao as Chief Marketing Officer of the Company; to re-appoint Mr. ZHANG Guoming as Chief Compliance Officer and Chief Risk Officer of the Company; and to re-appoint Mr. YE Xinjiang, Mr. JIN Jianhua, Mr. SUN Yi and Mr. GAO Yuxiang as members of senior management of the Company, each with a term of office from the date of approval by the Board to the expiration date of the term of office of the Seventh Session of the Board.
   The Board resolved to appoint Mr. WANG Junfeng as the secretary to the Board of the Company. The appointment of Mr. WANG Junfeng is subject to obtaining the qualification certificate for serving as the secretary to the board of directors from the Shanghai Stock Exchange, the approval by the Shanghai Stock Exchange on his qualification for serving as the secretary to the board of directors, and the approval by the securities regulatory authority on his qualification for serving as senior management of securities companies. The term of office of Mr. WANG Junfeng as the secretary to the Board of the Company is from the date of obtaining the qualification certificate for serving as the secretary to the board of directors, the qualification for serving as the secretary to the board of directors and the qualification for serving as senior management of securities companies (whichever is the later) to the expiration date of the term of office of the Seventh Session of the Board. Ms. ZHENG Jing, the former secretary to the Board, will continue to perform her duties as the secretary to the Board of the Company before Mr. WANG Junfeng obtains the above-mentioned qualification certificate and relevant approvals.
   Please refer to the above for the biography of Mr. ZHANG Youjun. Biography details of the other senior management are set out as follows:
   Mr. YANG Minghui, aged 55, serves as deputy secretary to the Communist Party Committee of the Company, an executive director, the President and member of the Executive Committee of the Company. Mr. YANG joined the Company at the time of the establishment of the Company in 1995 and was appointed as a director of the Company on 19 January 2016. Mr. YANG also serves as the chairman of China Asset Management Company Limited and the chairman of China Asset Management (Hong Kong) Limited. Mr. YANG had worked as a director, assistant

3

manager and deputy general manager of the Company since 1995; a director and executive vice-president of CITIC Holdings Limited and a director of CITIC Trust Co., Ltd. from May 2002 to August 2005; the chairman of CITIC-Prudential Fund Management Co., Ltd. from July 2005 to January 2007; and an executive director and the president of China Jianyin Investment Securities Company Limited from August 2005 to October 2011. Mr. YANG was granted the title of senior economist by China International Trust and Investment Corporation, the predecessor of CITIC Group Corporation, in October 1996. Mr. YANG obtained a Bachelor's degree in engineering (majoring in mechanical manufacturing technology and equipment) from the Department of Mechanical Engineering of East China Institute of Textile Science and Technology in 1982 and obtained a Master's degree in engineering (majoring in textile machinery) from the Department of Mechanical Engineering of East China Institute of Textile Science and Technology in 1985.

Mr. MA Yao, aged 47, serves as a member of the Executive Committee and the head of the Investment Banking Management Committee of the Company. Mr. MA joined the Company in 1998 and previously served as the deputy general manager of the Risk Control Department, deputy general manager of the Bond Distribution and Trading Department, deputy general manager of the Trading Department, person-in-charge of the Capital Market Department, head of the Financial Industry Group and member of the Investment Banking Management Committee. Mr. MA obtained a Bachelor's degree in automatic control from Xi'an Jiaotong University in 1994, a Master's degree in money and banking and a Doctor's degree in international finance from the Graduate School of the People's Bank of China in 1998 and 2012, respectively.

Mr. XUE Jirui, aged 46, serves as a member of the Executive Committee, head of the Equity Derivatives Business Line and Prime Service Business Line and a member of the Financial Market Management Committee of the Company. Mr. XUE joined the Company in 2000 and previously served as a manager of the financial products development group, researcher of the Research Department, head of the product development group of the trading and derivatives business line. Mr. XUE concurrently serves as a director of CITIC Futures Company Limited and Qingdao Jindingxin Microfinance Company Limited. Mr. XUE obtained a Bachelor's degree, a Master's degree and a Doctor's degree in statistics from Renmin University of China in 1997, 2000 and 2006, respectively.

Mr. YANG Bing, aged 47, serves as a member of the Executive Committee and the chief executive of the asset management business of the Company. Mr. YANG joined the Company in 1999 and previously worked as a teacher of Shaoguan University from 1993 to 1996. He once served in the Company as an assistant trader of the Trading Department, trader of the Fixed Income Department as well as investment manager and investment supervisor of the asset management business. Mr. YANG obtained a Bachelor's degree in fine chemicals from Nanchang University in 1993 and a Master's degree in national economics from Nanjing University in 1999.

4

Mr. LI Chunbo, aged 43, serves as a member of the Executive Committee and the division head of the Research Department, Equity Distribution and Trading Department and the Custody Department of the Company. Mr. LI joined the Company in 2001 and previously worked as an analyst of the Research Consulting Department (later renamed as the Research Department), chief analyst of the Research Department, as well as the chief executive of the Research Department and the Equity Distribution and Trading Department. Mr. LI obtained a Bachelor's degree in vehicle engineering and a Master's degree in management science and engineering from Tsinghua University in 1998 and 2001, respectively.

Mr. ZOU Yingguang, aged 49, serves as a member of the Executive Committee and chief executive of the Fixed Income Department of the Company. Mr. ZOU joined the Company in 2017 and previously worked as a surgeon of the Xuanwu Hospital of Capital Medical University, business manager of the Beijing securities outlet of Hainan Huayin International Trust Investment Corporation, manager of the institutional client section of South Haidian Road Outlet of Huaxia Securities Co., Ltd., senior business director of the bonds department of Huaxia Securities Co., Ltd., assistant to general manager of the bonds department, the person- in-charge of the fixed income department as well as member of the Executive Committee and concurrently the person-in-charge of the fixed income department of CSC Financial Co., Ltd.. Mr. ZOU obtained a Bachelor's degree in clinical medicine from Capital Medical University in 1994, a Master's degree in finance from Central University of Finance and Economics in 2000 and an EMBA degree from China Europe International Business School in 2012.

Mr. LI Yongjin, aged 49, serves as a member of the Executive Committee, director of the Wealth Management Committee, general manager of the Zhejiang Branch Office of the Company, a director of each of CITIC Futures Company Limited and China Asset Management Company Limited and a director and general manager of Kington Securities Limited Liability Company. Mr. LI joined the Company in 1998 and previously worked as a staff of the International Business Department of Dalian Branch of Agricultural Bank of China, department manager of Dalian Sales Department of Shenyin Wanguo Securities, assistant to general manager, deputy general manager and general manager of Dalian Securities Outlet of the Company, senior vice president and director of the Brokerage Management Department of the Company and general manager of CITIC Securities (Zhejiang) Co., Ltd. (the predecessor of the Zhejiang Branch Office). Mr. LI obtained a Bachelor's degree in economics and a Master's degree in finance from Dongbei University of Finance and Economics in 1992 and 2000, respectively.

Mr. LI Jiong, aged 49, serves as the Chief Financial Officer, the treasurer and the chief executive of the Treasury Department of the Company. Mr. LI joined the Company in 1996 and previously worked as the manager of International Cooperation Office of the Information Center of China International Trust and Investment Corporation (the predecessor of CITIC Group Corporation), manager of the Development Department of CITIC International Cooperation Company, manager of the Bonds Department and deputy general manager of the Capital Operation Department (later renamed as the Treasury Department) as well as the chief executive of the Prime Service Business Line of the Company. Mr. LI concurrently serves as the director of each of CITIC Securities Overseas Investment Co., Ltd., CITIC

5

Futures Company Limited, Qingdao Jindingxin Microfinance Company Limited, CITIC Global Financial Leasing CO., LTD., CLSA Premium Limited and CITIC Securities International USA, LLC. Mr. LI obtained a Bachelor's degree in international finance from the University of International Business and Economics in 1992 and an MBA degree from Tsinghua University in 2000.

Mr. SONG Qunli, aged 53, serves as the chief engineer of the Company and administrative person in charge of the Information Technology Center of the Company. Mr. SONG joined the Company in 2016 and previously served as the chief of the software section of Beijing CONTEC Microelectronics Co., Ltd., general manager of the Computer Center of Huaxia Securities Co., Ltd., member of the Business Decision-making Committee and concurrently chief executive of the Information Technology Department of CSC Financial Co., Ltd., vice president of China Minzu Securities Co., Ltd. and managing director of the Information Technology Department of CSC Financial Co., Ltd.. Mr. SONG concurrently serves as the executive director of CITIC Securities Information and Quantitative Service (Shenzhen) Co., Ltd. and the director of E-Capital Transfer Co., Ltd.. Mr. SONG obtained a Bachelor's degree in automotive control from the School of Engineering of Beijing Union University in 1987.

Mr. ZHANG Hao, aged 50, serves as the chief marketing officer of the Company and secretary to the Communist Party Committee and chairman of CITIC Futures Company Limited. Mr. ZHANG joined the Company in 1997 and previously served as teaching assistant of Shanghai Urban Construction Vocational College, head of the B-share Business Department of Shanghai Trust Investment Corporation of China Construction Bank as well as deputy general manager of the Shanghai B-share Business Department, general manager of the Shanghai Fuxing Middle Road Securities Outlet and concurrently deputy general manager of the Shanghai management headquarters, general manager of the Shanghai Huaihai Middle Road Securities Outlet, deputy general manager of the Shanghai management headquarters and general manager of Shanghai Branch of CITIC Securities. Mr. ZHANG concurrently serves as vice president of China Futures Association and a director of CITIC Global Financial Leasing CO., LTD.. Mr. ZHANG was awarded the title of "Skilled Young Worker of SOEs" in 2001. Mr. ZHANG obtained dual Bachelor's degrees in industrial management engineering and engineering mechanics from Shanghai Jiao Tong University in 1991 and an MBA degree from the Antai College of Shanghai Jiao Tong University in 2001.

Mr. ZHANG Guoming, aged 55, serves as the chief compliance officer and the chief executive of the Legal Department of the Company. Before joining the Company in 2010, Mr. ZHANG worked as deputy chief judge, chief judge and a member of the Judge Committee of the Higher People's Court of Henan Province, and the judge of the Supreme People's Court. Mr. ZHANG obtained his Master's degree in law and Doctor's degree in law from the Renmin University of China in 1994 and 2008, respectively.

6

Mr. WANG Junfeng, aged 51, serves as the deputy secretary of the disciplinary inspection committee, the director of the Party Work Department, and the chief executive of the General Manager's Office of the Company. Mr. WANG joined the Company in 1999 and previously served as an officer of the headquarter of the People's Bank of China, deputy general manager of the Brokerage Management Department of the Company, and business coordination supervisor of the General Manager's Office. Mr. WANG obtained a Bachelor's degree in

economics in finance from Zhengzhou University in 1990 and a Master's degree in economics from Graduate School of the People's Bank of China (中國人民銀行總行金融研究所)

(currently known as the PBC School of Finance, Tsinghua University) in 1997.

Mr. YE Xinjiang, aged 55, serves as a member of the Senior Management, member of the Investment Banking Management Committee (IBMC), and head of the quality control group and the M&A business line under the IBMC of the Company. Mr. YE joined the Company in December 2005. He was formerly the head of the medical and health industry group under the IBMC of the Company, head of the regional IBS group and head of the New OTC Market Business Department of the Company. Mr. YE obtained a Bachelor's degree in agricultural economics in July 1985 and a Master's degree in management in July 1990 from Zhejiang University (formerly Zhejiang Agricultural University).

Mr. JIN Jianhua, aged 48, serves as a member of the Senior Management, secretary to the Party Committee and general manager of GoldStone Investment Co., Ltd. and chairman of the board of directors of CITIC Private Equity Funds Management Company Limited. Mr. JIN joined the Company in May 1997. He previously served as the deputy general manager of the Investment Banking Department (Beijing), and IBMC member and head of the financial industry group, equipment manufacturing industry group and the M&A business line under the IBMC of the Company. Mr. JIN obtained a Bachelor's degree in industrial foreign trade in July 1993 and a Master's degree in technical economics in July 1996 from Xi'an Jiaotong University, and obtained a Master's degree in business administration in 2009 from China Europe International Business School.

Mr. SUN Yi, aged 47, serves as a member of the Senior Management, IBMC member and head of the financial industry group under the IBMC of the Company. Mr. SUN joined the Company in April 1998. He once served as the deputy general manager of the Investment Banking Department (Shenzhen) of the Company, managing director of CITIC Securities International Co., Ltd., head of the Operations Department and head of ECM team under the IBMC of the Company, as well as the deputy general manager of China Asset Management Company Limited and concurrently general manager of China AMC Capital Management Limited. Mr. SUN obtained a Bachelor's degree in business management in July 1993 from Jiangxi University of Finance and Economics and a Master's degree in corporate management in June 1996 from Xiamen University.

7

Mr. GAO Yuxiang, aged 51, serves as a member of the Senior Management, IBMC member and head of the infrastructure and real estate industry group under the IBMC of the Company. Mr. GAO joined the Company in November 2004 and had served as the deputy head of the real estate and construction materials industry team, the transport industry team and the infrastructure and real estate industry team under the IBMC of the Company. Mr. GAO obtained a College degree in financial accounting from Qingdao Radio and Television University in July 1990 and a Bachelor's degree in national economic management from Peking University in July 1995. He obtained a degree in business management in July 2001 from Capital University of Economics and Business and a Doctor's degree in industrial economics in July 2004 from Beijing Jiaotong University.

THE FIRST MEETING OF THE SEVENTH SESSION OF THE SUPERVISORY COMMITTEE

The Company is also pleased to announce that the first meeting of the Seventh Session of the Supervisory Committee of the Company (the "Supervisory Committee") was held on 31 December

2019. Details of the relevant resolutions passed at the meeting are as follows:

1. APPOINTMENT OF THE CONVENOR OF THE SUPERVISORY COMMITTEE
   In view of the current vacancy of the chairman of the Supervisory Committee and to ensure the normal operation of the Supervisory Committee, the Supervisory Committee resolved to appoint Mr. LI Ning, an employee representative supervisor of the Seventh Session of the Supervisory Committee, as the convenor of the Supervisory Committee, who shall be responsible for convening and presiding over the meetings of the Supervisory Committee, with effect from the date of approval of the relevant resolution by the Supervisory Committee until the date of election of a new chairman of the Supervisory Committee by the Supervisory Committee.

1. PROPOSED APPOINTMENT OF NON-EMPLOYEE REPRESENTATIVE SUPERVISOR
   The Supervisory Committee resolved to propose to appoint Mr. ZHANG Changyi as a new non-employee representative supervisor of the Seventh Session of the Supervisory Committee. The appointment of Mr. ZHANG Changyi is subject to the approval by the general meeting of the Company and the approval by the securities regulatory authorities on his qualification for serving as a supervisor of a securities company.

8

Biographical details of Mr. ZHANG Changyi are set out as follows:

Mr. ZHANG Changyi, aged 52, serves as deputy secretary to the Communist Party Committee and chairman of the labor union of the Company. Mr. ZHANG joined the Company in 2018. Mr. ZHANG successively served as an officer, staff, associate principal staff, principal staff and assistant consultant of Ministry of Construction from August 1989 to June 1997, and successively served as the second secretary (deputy-division-head level), deputy division head, the first secretary and deputy division head (division-head level) of the second secretary bureau of the General Office of the State Council from June 1997 to April 2001. He served as

1. secretary of division-head level, secretary of deputy bureau level, secretary of bureau-head level in the General Office of the State Council from April 2001 to August 2018. Mr. ZHANG obtained a Bachelor's degree in engineering (majoring in industrial and civil architecture) from the Architectural Engineering Department of Northwest Institute of Construction Engineering in 1989 and obtained a Master's degree in engineering (majoring in management engineering) from Harbin University of Civil Engineering and Architecture in 1999.

Mr. ZHANG Changyi has confirmed that, saved as disclosed above: (i) he does not hold any other position with the Company or any of its subsidiaries and has not been a director in any other listed companies during the past three years; (ii) he has no relationship with any directors, senior management or substantial shareholders of the Company or any of its subsidiaries; and (iii) as at the date of this announcement, he 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).

In addition, Mr. ZHANG Changyi has also confirmed that there is no other information in relation to his appointment that needs to be disclosed pursuant to the requirements of Rules 13.51(2)(h) to

1. of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and there is no other matter in relation to his appointment that needs to be brought to the attention of the shareholders of the Company (the "Shareholders").

If appointed as a non-employee representative supervisor of the Seventh Session of the Supervisory Committee, the term of office of Mr. ZHANG Changyi shall commence from the date of approval by the general meeting on his appointment and the securities regulatory authority on his qualification (whichever is the later) to the date of expiration of the term of office of the Seventh Session of the Supervisory Committee. The remuneration of Mr. ZHANG Changyi will be determined according to the Remuneration Management System of the Company, which may include basic annual salary, annual salary linked to performance, special awards and insurance benefits. After the appointment of Mr. ZHANG Changyi enters into effect, the Company will enter into service contract with him.

9

A circular containing details of the proposed appointment of Mr. ZHANG Changyi as a non- employee representative supervisor of the Company and a notice of the general meeting will be despatched to the Shareholders in due course.

By order of the Board

CITIC Securities Company Limited

ZHANG Youjun

Chairman

Beijing, the PRC

31 December 2019

As at the date of this announcement, the executive directors of the Company are Mr. ZHANG Youjun and Mr. YANG Minghui; and the independent non-executive directors are Mr. LIU Ke, Mr. HE Jia and Mr. ZHOU Zhonghui.

10