Industrial and Commercial Bank of China : Announcement of the Resolutions of the Board of Directors

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.

Stock Code: 1398

USD Preference Shares Stock Code: 4603

EUR Preference Shares Stock Code: 4604

RMB Preference Shares Stock Code: 84602

ANNOUNCEMENT OF THE RESOLUTIONS

OF THE BOARD OF DIRECTORS

A meeting of the board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was convened by written notice on 29 December 2017 and held at the Bank's head office at No. 55 Fuxingmennei Avenue, Xicheng District, Beijing on 12 January 2018. There were 16 directors eligible for attending the meeting, of whom 16 directors attended the meeting in person. Mr. Guan Xueqing, the Board Secretary attended the meeting. Members of the board of supervisors were in attendance at the meeting. The meeting was convened in compliance with the provisions of the laws, regulations, the Articles of Association of Industrial and Commercial Bank of China Limited and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited.

Mr. Yi Huiman, Chairman of the Board, presided over the meeting and the directors attending the meeting considered the proposals stated below:

1. CONSIDERED AND APPROVED THE PROPOSAL ON THE FIXED

ASSET INVESTMENT BUDGET FOR 2018

Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

This proposal shall be submitted to the shareholders' general meeting of the Bank for consideration and approval.

2.

CONSIDERED AND APPROVED THE PROPOSAL ON THE STRATEGIC DEVELOPMENT PLAN OF ICBC FOR 2018-2020

Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

• 3. CONSIDERED AND APPROVED THE PROPOSAL ON THE OVERSEAS STRATEGIC DEVELOPMENT PLAN OF ICBC FOR 2018-2020

  Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

• 4. CONSIDERED AND APPROVED THE PROPOSAL ON THE RISK MANAGEMENT PLAN OF ICBC FOR 2018-2020

  Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

5.

CONSIDERED AND APPROVED THE PROPOSAL ON THE INTERNAL AUDIT DEVELOPMENT PLAN OF ICBC FOR 2018-2020

Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

6. CONSIDERED AND APPROVED THE PROPOSAL ON THE

INTERNAL AUDIT PLAN FOR 2018

Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

7.	CONSIDERED AND APPROVED THE	PROPOSAL ON	THE
INTERNAL AUDIT CHARTERS OF	INDUSTRIAL	AND
COMMERCIAL BANK OF CHINA LIMITED

Voting result of this proposal: 16 valid votes, 16 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

12 January 2018

As at the date of this announcement, the board of directors comprises Mr. YI Huiman, Mr. GU Shu, Mr. ZHANG Hongli and Mr. WANG Jingdong as executive directors, Mr. CHENG Fengchao, Mr. ZHENG Fuqing, Mr. FEI Zhoulin, Ms. MEI Yingchun, Mr. DONG Shi and Mr. YE Donghai as non-executive directors, Mr. OR Ching Fai, Mr. HONG Yongmiao, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR and Mr. SHEN Si as independent non-executive directors.