CITIC Limited — Board/Management Information 2020

Mar 30, 2020

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.

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CHANGE OF CHAIRMAN AND EXECUTIVE DIRECTOR AND COMPOSITION OF BOARD COMMITTEES

The board of directors (the “Board”) of CITIC Limited (the “Company”) announces the following changes with effect from 30 March 2020:

• (1) Resignation of Mr Chang Zhenming as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company; and

• (2) Appointment of Mr Zhu Hexin as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company.

The Board of the Company announces the following changes:

1. Resignation of Mr Chang Zhenming as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee

Mr Chang Zhenming (“Mr Chang”) has tendered his resignation as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company due to his age. All the above resignations will take effect from 30 March 2020.

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Mr Chang has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

Mr Chang served as an Executive Director from 2000 to 2005, as a Non-executive Director from 2006 and as the Chairman of the Board since 2009. During his tenure as Chairman, Mr Chang has played an important role in stewarding the Company with dedication and innovation. As leader of the board, he made significant contributions, improving corporate governance and guiding the Company’s strategic development. With his extensive experience in the financial sector, Mr Chang provided tremendous support to the economic development of the financial service businesses and led them towards industry leadership. Mr Chang, with his broad international perspective and forward-looking strategic vision, succeeded in listing CITIC on the Hong Kong Stock Exchange, which established a new international development platform for the Company. He focused on developing strategic advantages for CITIC businesses, improving synergy, promoting innovative business models and management strategies, enhancing collaboration with partners and customers and actively supported the Belt and Road initiative.

Under Mr Chang’s leadership, the Company's strength, sustainability, brand influence and competitiveness have reached a new level. Mr Chang has laid a solid foundation for CITIC’s future development as a professional, globally competitive and world-class enterprise. The Chairman and the Board of Directors would like to express their sincere gratitude to Mr Chang for his service and valuable contribution to the Company.

2. Appointment of Mr Zhu Hexin as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee

Mr Zhu Hexin (“Mr Zhu”), aged 52, has been appointed as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company with effect from 30 March 2020.

Mr Zhu has been appointed as the Chairman of CITIC Group Corporation and CITIC Corporation Limited since 2020. He was Vice President of Bank of Communications, Executive Director and Vice President of Bank of China, Vice Governor of Sichuan Province, Vice President of People’s Bank of China. He has over 20 years’ extensive knowledge and experience in the financial industry. He graduated from Shanghai University of Finance and Economics with a degree of Bachelor in Engineering, majored in economic information management system. He is a senior economist.

Mr Zhu is entitled to receive an annual basic salary of HK$34,500 per month and an annual performance salary of HK$26,000 per month which are determined by the relevant PRC government regulators and are subject to evaluation of the annual performance of the Company. Remuneration of the Executive Directors of the Company is subject to review and approval by the Remuneration Committee of the Company.

Mr Zhu has entered into a letter of appointment with the Company. Pursuant to the Company’s articles of association, he shall hold office only until the next following annual general meeting, or if earlier, the next following extraordinary general meeting of the Company and shall then be eligible for re-election at such meeting. Thereafter, he will be subject to retirement by rotation and re-election in accordance with the Company’s articles of association. No director’s fee or

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fee for serving on any board committees will be paid to the Executive Directors of the Company.

As at the date hereof, Mr Zhu does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed, he has no relationships with any directors, senior management or substantial shareholders or controlling shareholders of the Company, and does not hold and has not held in the last three years any directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas.

In relation to the appointment of Mr Zhu as Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee, there is no other information to be disclosed pursuant to any of the requirements of Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor are there other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to extend its warmest welcome to Mr Zhu on taking up the positions of the Chairman of the Board and Executive Director, Chairman of Nomination Committee, Chairman of Strategic Committee and Chairman of Executive Committee of the Company.

By Order of the Board CITIC Limited Wang Jiong Vice Chairman and President

Hong Kong, 30 March 2020

As at the date of this announcement and immediately after the above changes, the executive directors of the Company are Mr Zhu Hexin (Chairman), Mr Wang Jiong and Ms Li Qingping; the non-executive directors of the Company are Mr Song Kangle, Ms Yan Shuqin, Mr Liu Zhuyu, Mr Peng Yanxiang, Mr Liu Zhongyuan and Mr Yang Xiaoping; and the independent non-executive directors of the Company are Mr Francis Siu Wai Keung, Dr Xu Jinwu, Mr Anthony Francis Neoh, Mr Shohei Harada and Mr Gregory Lynn Curl.

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