Bank of Qingdao : ANNOUNCEMENT ON THE RESULTS OF ISSUANCE OF THE FIRST TRANCHE OF TIER-TWO CAPITAL BONDS IN 2021

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Bank of Qingdao Co., Ltd.*

ڡࢥვБٰ΅Ϟࠢʮ̡*

(A joint stock company incorporated in the People's Republic of China with limited liability)

(H Shares Stock Code: 3866)

(Preference Shares Stock Code: 4611)

ANNOUNCEMENT ON THE RESULTS OF ISSUANCE OF THE FIRST TRANCHE OF TIER-TWO

CAPITAL BONDS IN 2021

With the approvals from the Qingdao Office of the China Banking and Insurance Regulatory Commission and the People's Bank of China, Bank of Qingdao Co., Ltd. (the "Bank") was approved to publicly issue tier-two capital bonds in an amount not exceeding RMB6 billion in the national inter-bank bond market of China (the "Bonds").

The Bonds are issued in tranches and this tranche is the first tranche of the Bonds which were issued on 22 March 2021 with a total issuing size of RMB4 billion. The type of this tranche of the Bonds is fixed rate bonds with a term of 10 years. The issuer shall have a conditional redemption right at the end of the fifth year. The proceeds from this tranche of the Bonds will be used to replenish the Bank's tier-two capital in accordance with the applicable laws and the approvals by the regulatory authorities.

By order of the Board

Bank of Qingdao Co., Ltd.*

Guo Shaoquan

Chairman

Qingdao, Shandong Province, the PRC

22 March 2021

As at the date of this announcement, the board of directors of the Bank comprises Mr. Guo Shaoquan, Mr. Wang Lin and Ms. Lu Lan as executive directors; Mr. Zhou Yunjie, Mr. Rosario Strano, Ms. Tan Lixia, Mr. Marco Mussita, Mr. Deng Youcheng and Mr. Choi Chi Kin, Calvin as non-executive directors; Mr. Chen Hua, Ms. Dai Shuping, Mr. Simon Cheung, Ms. Fang Qiaoling and Mr. Tingjie Zhang as independent non-executive directors.

*Bank of Qingdao Co., Ltd. is not an authorized institution within the meaning of the Banking Ordinance (Chapter 155 of the Laws of Hong Kong), not subject to the supervision of the Hong Kong Monetary Authority, and not authorized to carry on banking and/or deposit-taking business in Hong Kong.