Bank of Qingdao : ANNOUNCEMENT ON REDEMPTION OF 2015 TIER-TWO CAPITAL BONDS

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.

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 ON REDEMPTION OF 2015 TIER-TWO CAPITAL BONDS

From 3 March 2015 to 5 March 2015, Bank of Qingdao Co., Ltd. (the "Bank") issued tier-two capital bonds in the amount of RMB2.2 billion (the "Bonds") in the national inter-bank bond market of China. According to the provisions under the relevant terms in the prospectus of the Bonds, the Bonds are subject to the redemption option of the issuer, pursuant to which the Bank has the right to redeem the Bonds at face value in whole at the last day of the interest-bearing year with early redemption option of the Bonds, i.e. 5 March 2020.

As at the date of this announcement, the Bank has exercised the aforesaid redemption option, and fully redeemed the Bonds.

By order of the Board

Bank of Qingdao Co., Ltd.*

GUO Shaoquan

Chairman

Qingdao, Shandong Province, the PRC

6 March 2020

As at the date of this announcement, the Board 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. Chen Hua, Ms. Dai Shuping, Mr. Simon Cheung, Ms. Fang Qiaoling and Mr. Tingjie Zhang 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.