CITIC Limited — Capital/Financing Update 2022

Oct 25, 2022

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.

(Incorporated in Hong Kong with limited liability)

( Stock Code: 00267 )

VOLUNTARY ANNOUNCEMENT

INTERNAL RESTRUCTURING - STREAMLINING OF THE GROUP’S ENVIRONMENTAL PROTECTION BUSINESS

This announcement is made by CITIC Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) on a voluntary basis to update the shareholders and potential investors of the Company on the recent development of the Group.

The Internal Restructuring

The Company is pleased to announce that, CITIC Corporation Limited (“ CITIC Corporation ”), a wholly-owned subsidiary of the Company, CITIC Environment Investment Group Co., Limited (“ CITIC Environment ”), a wholly-owned subsidiary of CITIC Corporation, and CITIC Engineering Design and Construction Company Limited (“ CITIC Engineering ”), a wholly-owned subsidiary of CITIC Corporation, entered into an equity acquisition agreement. Pursuant to the agreement, CITIC Corporation has sold to CITIC Environment 100% equity interest in CITIC Engineering with a value of approximately RMB4.18 billion, being the audited consolidated net assets attributable to the parent company of CITIC Engineering as at 31 May 2022. In this regard, CITIC Environment has issued additional registered capital of RMB4 billion to CITIC Corporation, and the portion of value of CITIC Engineering’s equity exceeding the increased registered capital of approximately RMB0.18 billion will be included in the capital reserve of CITIC Environment (the “ Internal Restructuring ”). Relevant industrial and commercial registration and filing procedures for the equity transfer under the Internal Restructuring were completed on 24 October 2022.

Both CITIC Environment and CITIC Engineering remain as wholly-owned subsidiaries of the Company upon completion of the Internal Restructuring.

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Reasons for and Benefits of the Internal Restructuring

CITIC Environment, as the Group’s specialised investment and operational platform in environmental protection, is primarily engaged in water treatment, solid waste and hazardous waste processing and disposal, and energy saving services. CITIC Engineering is a leading innovative technological engineering company in China, focusing on new forms of infrastructure, urbanisation and ecology.

The Internal Restructuring enables the Group to better allocate the internal resources to forge competitive advantage of the industrial chain integration, which would strengthen the synergies and comprehensive advantages of the Group in the market, promote the implementation of the Group’s development strategies and help achieve high-quality development. Following the Internal Restructuring, CITIC Environment would be able to carry out intensive and unified management in respect of the Group’s businesses relating to ecological protection and environmental governance fields, which is conducive for CITIC Environment to seek diversified financing opportunities in capital market to further expand the business scale.

By Order of the Board CITIC Limited Zhu Hexin Chairman

Hong Kong, 25 October 2022

As at the date of this announcement, the executive directors of the Company are Mr. Zhu Hexin (Chairman) and Mr. Xi Guohua; the non-executive directors of the Company are Mr. Song Kangle, Mr. Peng Yanxiang, Ms. Yu Yang, Mr. Zhang Lin, Mr. Yang Xiaoping and Mr. Tang Jiang; and the independent non-executive directors of the Company are Mr. Francis Siu Wai Keung, Dr. Xu Jinwu, Mr. Anthony Francis Neoh, Mr. Gregory Lynn Curl and Mr. Toshikazu Tagawa.

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