Bank of Qingdao : ANNOUNCEMENT IN RELATION TO THE APPROVAL ON THE ESTABLISHMENT OF QINGYIN WEALTH MANAGEMENT COMPANY LIMITED

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Bank of Qingdao Co., Ltd.* 青 島 銀 行 股 份 有 限 公 司 *

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

(H Shares Stock Code: 3866)

(Preference Shares Stock Code: 4611)

ANNOUNCEMENT IN RELATION TO THE APPROVAL ON

THE ESTABLISHMENT

OF QINGYIN WEALTH MANAGEMENT COMPANY LIMITED

This announcement is made by Bank of Qingdao Co., Ltd. (the "Bank") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") 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 Bank dated 7 December 2018 in relation to the proposed investment in the establishment of a wealth management subsidiary.

The Bank is pleased to announce that the Bank has recently received the "Approval on the Establishment of Qingyin Wealth Management Company Limited by China Banking and Insurance Regulatory Commission" (Yin Bao Jian Fu [2020] No. 77), pursuant to which the Bank was approved to establish Qingyin Wealth Management Company Limited ("Qingyin Wealth Management"). Qingyin Wealth Management is established solely by the Bank with the proposed registered capital of RMB1 billion. After completion of the establishment, the Bank will apply to the Qingdao Office of China Banking and Insurance Regulatory Commission for commencement of business in accordance with relevant requirements and procedures.

By order of the Board

Bank of Qingdao Co., Ltd.*

GUO Shaoquan

Chairman

Qingdao, Shandong Province, the PRC

11 February 2020

As at the date of this announcement, the board of directors of the Bank comprises Mr. Guo Shaoquan, Mr. Wang Lin, Mr. Yang Fengjiang and Ms. Lu Lan as executive directors; Mr. Zhou Yunjie, Mr. Rosario Strano, Ms. Tan Lixia, Mr. Marco Mussita, Mr. Deng Youcheng and Mr. Choi Chi Kin, Calvin as non-executive directors; Mr. Wong Tin Yau, Kelvin, Mr. Chen Hua, Ms. Dai Shuping, Mr. Simon Cheung and Ms. Fang Qiaoling as independent non-executive directors.

• Bank of Qingdao Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of 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.