Bank of Jinzhou : COMPLETION OF THE VERY SUBSTANTIAL DISPOSAL IN RELATION TO THE DISPOSAL OF ASSETS OF THE BANK

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錦州銀行股份有限公司

Bank of Jinzhou Co., Ltd.*

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

(Stock Code: 0416)

(Stock Code of Preference Shares: 4615)

COMPLETION OF THE VERY SUBSTANTIAL DISPOSAL IN RELATION

TO THE DISPOSAL OF ASSETS OF THE BANK

References are made to the announcement of Bank of Jinzhou Co., Ltd. (the "Bank") dated 3 April 2020, circular of the Bank dated 30 June 2020 (the "Circular") and the EGM poll results announcement of the Bank dated 10 July 2020 in respect of the very substantial disposal of certain assets of the Bank. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the Circular.

The Board is pleased to announce that as of the date of this announcement, all the conditions precedent as set out in the Framework Disposal Agreement and the framework agreement for the relevant specific disposal agreements have been fulfilled and the specific disposal agreements for all the Disposal Assets have already been entered into between the Bank and the Purchaser. The Consideration had also been fully settled. Accordingly, the Disposal has completed and the Disposal Assets have been fully disposed of and are no longer included in the consolidated financial statements of the Bank.

In addition, taking into consideration that the Debt Instrument Subscription and the Disposal are a series of transactions under the reorganization plan of the Bank and the completion of the Disposal has taken place, the Debt Instrument Subscription has also proceeded to completion.

By order of the Board

Bank of Jinzhou Co., Ltd.*

Wei Xuekun

Chairman

Jinzhou, Liaoning Province, the PRC

27 July 2020

As at the date of this announcement, the Board comprises Mr. Wei Xuekun, Mr. Guo Wenfeng, Mr. Kang Jun, Mr. Yang Weihua and Mr. Yu Jun, as executive Directors; Mr. Zhao Chuanxin, Ms. Ning Jie, Ms. Gu Jihong, Mr. Lyu Fei and Mr. Luo Nan, as non-executive Directors; and Mr. Wu Jun, Mr. Xie Taifeng, Mr. Xiao Geng, Mr. Wang Xiongyuan and Mr. Su Mingzheng as independent non-executive Directors.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statements in this announcement misleading.

• Bank of Jinzhou Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong.