Industrial and Commercial Bank of China Limited announced that with approvals of relevant regulatory authorities, the issuance of 2025 Tier 2 Capital Notes (Series 2) (Bond Connect) (the "Notes") in National Interbank Bond Market has recently been completed. The Notes issued are of a size of RMB50 billion, and the tranche is 10 years fixed-rate notes with conditional redemption right by the issuer at the end of the fifth year, and the interest rate is 1.98%. The proceeds from the issuance of the Notes after deducting offering related expenses will be used to boost the tier 2 capital of the Bank in accordance with the applicable laws and the approvals by the regulatory authorities.