CITIC Limited — Capital/Financing Update 2015

Oct 2, 2015

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.

==> picture [218 x 174] intentionally omitted <==

FURTHER ANNOUNCEMENT ON

CONNECTED TRANSACTIONS

(1) PROPOSED ACQUISITION OF UP TO 39% EQUITY INTEREST IN CITIC NETWORKS BY CITIC TELECOM

AND

(2) PROPOSED ISSUE OF NEW SHARES BY CITIC TELECOM TO CITIC GROUP (OR ITS WHOLLY-OWNED SUBSIDIARIES AS ITS NOMINEES)

Reference is made to the joint announcement (the “ Joint Announcement ”) of CITIC Limited (the “ Company ”) and CITIC Telecom International Holdings Limited (“ CITIC Telecom ”) dated 24 August 2015 and the circular (the “ Circular ”) of CITIC Telecom dated 2 October 2015 in respect of, among other things, the Transactions. Capitalised terms used in this announcement shall have the same meanings as those terms defined in the Joint Announcement unless the context requires otherwise.

As disclosed in the Joint Announcement, all independent non-executive directors of the Company will render their views on the Transactions after the independent non-executive directors of CITIC Telecom have rendered theirs.

As disclosed in the section headed “Letter from the Independent Board Committee” of the Circular, the independent board committee (comprising all independent non-executive directors of CITIC Telecom) of CITIC Telecom, taking into account the independent advice of the independent financial adviser, namely Platinum Securities Company Limited (the “ Independent Financial Adviser ”), and the relevant information contained in the section headed “Letter from the Board” of the Circular, is of the opinion that the Transactions (which include the Acquisition and the Share Subscription) and the terms of the Acquisition Arrangement and the Share Subscription Agreement, though not entered into in the ordinary

1

and usual course of business of CITIC Telecom and its subsidiaries, are on normal commercial terms, fair and reasonable and in the interests of CITIC Telecom and its shareholders as a whole.

Taking into account the opinion of the independent board committee of CITIC Telecom as well as the letter of the Independent Financial Adviser contained in the section headed “Letter from the Independent Financial Adviser” of the Circular, the independent non-executive directors of the Company are of the view that the Transactions (which include the Acquisition and the Share Subscription) and the terms of the Acquisition Arrangement and the Share Subscription Agreement, though not entered into in the ordinary and usual course of business of the Company, are on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

By order of the Board CITIC Limited Ricky Choy Wing Kay Tang Zhenyi Joint Company Secretaries

Hong Kong, 2 October 2015

As at the date of this announcement, the executive directors of the Company are Mr Chang Zhenming (Chairman), Mr Wang Jiong and Mr Zhang Jijing; the non-executive directors of the Company are Mr Yu Zhensheng, Mr Yang Jinming, Ms Cao Pu, Mr Liu Zhongyuan, Mr Liu Yeqiao, 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, Ms Lee Boo Jin and Mr Noriharu Fujita.

2