Announcement on External Investment

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.中国工商银行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) Stock Code: 1398 USD Preference Shares Stock Code: 4620 ANNOUNCEMENT ON EXTERNAL INVESTMENT I. Basic Information of the Investment 19 institutions including Industrial and Commercial Bank of China Limited (the “Bank”) and the Ministry of Finance of the People’s Republic of China recently signed the Promoters’ Agreement of China Integrated Circuit Industry Investment Fund Phase III Co. Ltd. (the “Promoters’ Agreement”). The Bank intends to invest RMB21.5 billion in China Integrated Circuit Industry Investment Fund Phase III Co. Ltd. (the “Fund”) holding 6.25% of equity interest and the investment is expected to be fully paid within 10 years from the date of registration and establishment of the Fund (the “Investment”). The Investment does not constitute a major asset restructuring by or a connected transaction of the Bank.The Board of Directors of the Bank considered and approved the Investment on November 30 2023. Voting result of this proposal: 13 valid votes 13 voted in favour of this proposal 0 voted against and 0 abstained from voting. As there were uncertainties regarding the Investment as no agreement was signed and the Fund was yet to be established when the Board of Directors of the Bank considered and approved this proposal upon due consideration the Bank suspended the disclosure of the Investment and performed the internal registration and approval procedures in relation to the suspension of disclosure in accordance with the relevant requirements of the Listing Rules of the Shanghai Stock Exchange Self-Regulatory Guidelines No. 2 on Information Disclosure Affairs Management for Listed Companies of the Shanghai Stock Exchange and the Administrative Measures for Suspension and Exemption of Information Disclosure of Industrial and Commercial Bank of China Limited. 1The Investment is not required to be submitted to the Shareholders’ General Meeting of the Bank for approval.The Investment has been approved by the National Financial Regulatory Administration.II. Basic Information of the Investment Target The Fund is jointly established by 19 institutions including the Ministry of Finance of the People’s Republic of China with a registered capital of RMB344 billion and the scope of business includes private equity investment fund management venture capital fund management services using private equity funds to engage in equity investment investment management asset management and other activities and enterprise management consultation etc. The Fund aims to guide social capital to strengthen multi-channel financing support for the integrated circuit industry with focus on investments in the full industrial chain of integrated circuit.III. Impact of the Investment on the Bank The Investment is financed by the Bank’s own capital. The Investment is an important deployment made by the Bank in light of the major decision of the nation on the development of the integrated circuit industry the Bank’s development strategies and business resources. The Investment is a strategic decision for the Bank to serve the real economy and contribute to the sustainable development of the economy and society. It is also another major measure taken by the Bank to assume responsibilities of a big bank.The Investment will be instrumental in promoting the development of the Bank’s finance business.IV. Risk Analysis of the Investment According to the provisions of the Promoters’ Agreement the Bank shall pay its subscribed share capital in full within 10 years from the date of registration and establishment of the Fund. In accordance with the Company Law of the People’s Republic of China (2023 Revision) which takes effect on 1 July 2024 and other relevant laws and regulations the above payment arrangement is subject to the approval of the relevant authorities in accordance with the laws and regulations.The Board of Directors of Industrial and Commercial Bank of China Limited Beijing PRC 27 May 2024 As at the date of this announcement the Board of Directors comprises Mr. LIAO Lin and Mr. WANG Jingwu as executive directors Mr. LU Yongzhen Mr. FENG Weidong Ms. CAO Liqun Ms. CHEN Yifang and Mr. DONG Yang as non- executive directors Mr. YANG Siu Shun Mr. SHEN Si Mr. Fred Zuliu HU Mr. Norman CHAN Tak Lam and Mr. Herbert WALTER as independent non-executive directors. 2