To The Moon

On October 8, a financial news alert reported that Industrial And Commercial Bank Of China Limited (ASX: 601398), Agricultural Bank Of China Limited (ASX: 601288) and The People'S Insurance Company (Group) Of China Limited (ASX: 601319) successively published announcements regarding their applications for the issuance of A-share stocks to specific targets being accepted by the Shanghai Stock Exchange.

Industrial And Commercial Bank Of China Limited stated that the bank today received a notice issued by the Shanghai Stock Exchange (the "SSE") titled "Notice on Accepting the Application for Securities Issuance by a Listed Company on the Main Board of the Shanghai Stock Exchange of Industrial and Commercial Bank of China Limited" (SSE Review (Refinancing) [2026] No. 322). The SSE, in accordance with relevant regulations, reviewed the prospectus and related application documents for securities issuance by the bank as a listed company on the main board of the Shanghai Stock Exchange, and determined that the application documents were complete and in compliance with statutory form, and decided to accept the application and conduct review in accordance with the law. The matter of this issuance of A-share stocks to specific targets by Industrial And Commercial Bank Of China Limited still requires approval by the SSE and registration consent from the China Securities Regulatory Commission (the "CSRC") before it can be implemented. There remains uncertainty as to whether it will ultimately pass the SSE review, obtain the CSRC's decision to consent to registration, and the timing thereof. The bank will, based on the progress of this matter, promptly fulfill its information disclosure obligations in accordance with relevant laws and regulations and the rules of the SSE, and reminds investors to be aware of investment risks.

Agricultural Bank Of China Limited stated that the bank today received a notice issued by the SSE titled "Notice on Accepting the Application for Securities Issuance by a Listed Company on the Main Board of the Shanghai Stock Exchange of Agricultural Bank of China Limited" (SSE Review (Refinancing) [2026] No. 321). The SSE, in accordance with relevant regulations, reviewed the prospectus and related application documents for securities issuance by the bank as a listed company on the main board of the Shanghai Stock Exchange, and determined that the application documents were complete and in compliance with statutory form, and decided to accept the application and conduct review in accordance with the law. This matter of issuance of A-share stocks to specific targets still requires approval by the SSE and a decision by the China Securities Regulatory Commission (the "CSRC") to consent to registration before it can be implemented. There remains uncertainty as to whether it will ultimately pass the SSE review, obtain the CSRC's decision to consent to registration, and the timing thereof. The bank will, based on the progress, strictly conduct information disclosure in accordance with the requirements of relevant laws and regulations on the issuance of A-share stocks to specific targets by listed companies, and reminds investors to be aware of investment risks.

The People'S Insurance Company (Group) Of China Limited stated that the company today received a notice issued by the SSE titled "Notice on Accepting the Application for Securities Issuance by a Listed Company on the Main Board of the Shanghai Stock Exchange of The People's Insurance Company (Group) of China Limited" (SSE Review (Refinancing) [2026] No. 323). The SSE, in accordance with relevant regulations, reviewed the prospectus and related application documents for securities issuance by the company as a listed company on the main board of the Shanghai Stock Exchange, and determined that the application documents were complete and in compliance with statutory form, and decided to accept the application and conduct review in accordance with the law. This matter of issuance of A-share stocks to specific targets by The People'S Insurance Company (Group) Of China Limited still requires approval by the SSE and registration consent from the China Securities Regulatory Commission (the "CSRC") before it can be implemented. There remains uncertainty as to whether it will ultimately pass the SSE review, obtain the CSRC's decision to consent to registration, and the timing thereof. The company will, based on the progress of this matter, promptly fulfill its information disclosure obligations in accordance with relevant laws and regulations and the rules of the SSE, and reminds investors to be aware of investment risks.

According to the prospectuses, the shares to be issued by Industrial And Commercial Bank Of China Limited, Agricultural Bank Of China Limited and The People'S Insurance Company (Group) Of China Limited are domestic listed RMB ordinary shares (A shares) of the respective bank or company, with a par value of RMB 1.00 per share. This issuance will adopt the method of issuance to specific targets, and will be issued at an appropriate time within the validity period of the approval after passing the SSE review and obtaining the CSRC's consent to registration. Among them, the fundraising scale of this issuance by Industrial And Commercial Bank Of China Limited shall not exceed RMB 100 billion (inclusive, same below), and after deducting relevant issuance expenses, will be fully used to supplement the bank's core tier-one capital. The targets of this issuance are the Ministry of Finance, China Tobacco, Shanghai Tobacco, Yunnan Tobacco, Hunan Tobacco and Hunan Provincial Tobacco. The Ministry of Finance intends to subscribe for an amount of RMB 70 billion, China Tobacco intends to subscribe for RMB 10 billion, Shanghai Tobacco intends to subscribe for RMB 5 billion, Yunnan Tobacco intends to subscribe for RMB 5 billion, Hunan Tobacco intends to subscribe for RMB 5 billion, and Hunan Provincial Tobacco intends to subscribe for RMB 5 billion. The subscription amounts will be determined in accordance with the fundraising scale ultimately approved by the regulatory authorities.

The total amount of funds to be raised in this issuance by Agricultural Bank Of China Limited shall not exceed RMB 160 billion, and after deducting relevant issuance expenses, will be fully used to supplement the bank's core tier-one capital. The targets of this issuance are the Ministry of Finance, China Tobacco and its related subsidiaries Jiangsu Tobacco, Zhejiang Tobacco, Hubei Tobacco, Beijing Tobacco and Shuangwei Investment. The Ministry of Finance intends to subscribe for an amount of RMB 130 billion, China Tobacco intends to subscribe for RMB 10 billion, Jiangsu Tobacco intends to subscribe for RMB 5 billion, Zhejiang Tobacco intends to subscribe for RMB 5 billion, Hubei Tobacco intends to subscribe for RMB 5 billion, Beijing Tobacco intends to subscribe for RMB 3 billion, and Shuangwei Investment intends to subscribe for RMB 2 billion.

The fundraising scale of this issuance by The People'S Insurance Company (Group) Of China Limited shall not exceed RMB 15 billion, and after deducting relevant issuance expenses, will be fully used to replenish the company's capital. The target of this issuance is the Ministry of Finance. The target intends to subscribe in full for the company's A-share stocks issued in this issuance by way of cash.