CITIC Limited — Capital/Financing Update 2015

Apr 24, 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.

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OVERSEAS REGULATORY ANNOUNCEMENT

(This overseas regulatory announcement is issued pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited)

The following announcement is released by United Envirotech Ltd. (a subsidiary of CITIC Limited) to Singapore Exchange Limited on 24 April 2015:-

S$225 million 4.70% fixed rate notes due 2018 to be issued pursuant to the U.S.$500,000,000 Medium Term Note Programme of United Envirotech Ltd.

Hong Kong, 24 April 2015

As at the date of this announcement, the executive directors of CITIC Limited are Mr Chang Zhenming (Chairman), Mr Wang Jiong, Mr Dou Jianzhong and Mr Zhang Jijing; the non-executive directors of CITIC Limited are Mr Yu Zhensheng, Mr Yang Jinming, Ms Cao Pu, Mr Liu Zhongyuan and Mr Liu Yeqiao; and the independent non-executive directors of CITIC Limited are Mr Alexander Reid Hamilton, Mr Francis Siu Wai Keung, Dr Xu Jinwu, Mr Anthony Francis Neoh and Ms Lee Boo Jin.

NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES

This document is not an offer of securities for sale in the United States or elsewhere. Any Notes (as defined below) issued under the Programme (as defined below) have not been and will not be registered under the United States Securities Act of 1933, as amended (the " Securities Act ") or with any securities regulatory authority of any state of the United States or any other jurisdiction. The Notes may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Notes are being offered and sold only in offshore transactions as defined in and in reliance on Regulation S under the Securities Act.

UNITED ENVIROTECH LTD.

(Incorporated in the Republic of Singapore) (UEN/Company Registration No.: 200306466G)

S$225 MILLION 4.70% FIXED RATE NOTES DUE 2018 TO BE ISSUED PURSUANT TO THE U.S.$500,000,000 MEDIUM TERM NOTE PROGRAMME OF UNITED ENVIROTECH LTD.

United Envirotech Ltd. (the " Company ") wishes to announce that on 23 April 2015, it has priced S$225 million in aggregate nominal amount of 4.70% fixed rate notes due 2018 (the " Notes "). The Notes will be issued under the Company's S$500,000,000 medium term note programme (the " Programme "). DBS Bank Ltd. and Standard Chartered Bank have been appointed as the joint lead managers and bookrunners for the offering of the Notes.

The principal terms of the Notes are as follows:

Issue Size:	S$225 million
Issue Price:	100% of the aggregate nominal amount of the Notes
Interest:	4.70% per annum payable semi-annually in arrear
Maturity Date:	29 April 2018

The issue date of the Notes is currently expected to be on 29 April 2015.

The Notes constitute direct, general and unconditional obligations of the Company which will at all times rank pari passu among themselves and at least pari passu with all other present and future unsecured obligations of the Company, save for such obligations as may be preferred by provisions of law that are both mandatory and of general application.

The net proceeds from the issue of the Notes will be used by the Company and/or its subsidiaries for refinancing of existing borrowings, making investments and/or acquisitions, general working capital and corporate purposes.

Application will be made to the Singapore Exchange Securities Trading Limited (" SGX-ST ") for the listing and quotation of the Notes on the SGX-ST. Such permission will be granted when the Notes have been admitted to the Official List of the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein or in the Company's Offering Circular dated 17 April 2015. Approval in-principle from, admission to the Official List of, and the listing and quotation of the Notes on, the SGX-ST are not to be taken as an indication of the merits of the Company, its subsidiaries, the Programme or the Notes or of the merits of investing in the Notes.

BY ORDER OF THE BOARD

Dr Lin Yucheng

Chairman and CEO 24 April 2015

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Important Notice

This announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for or a sale of any securities in the United States or any other jurisdiction.

The Notes have not been, and will not be registered under the Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Neither this notice nor any portion hereof may be sent or transmitted into the United States or any jurisdiction where to do so is unlawful. Any failure to comply with these restrictions may constitute a violation of the United States securities law or the securities laws of any such other jurisdiction.

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