CITIC Limited Half-Year Report 2020

130 Half-Year Report 2020 CITIC Limited Share Option Plan Adopted by CITIC Limited CITIC Pacific Share Incentive Plan 2011 The CITIC Pacific Share Incentive Plan 2000 adopted by CITIC Limited on 31 May 2000 for a term of ten years expired on 30 May 2010. CITIC Limited adopted a new plan, the CITIC Pacific Share Incentive Plan 2011 (the “Plan 2011”) on 12 May 2011, the purpose of which is to promote the interests of CITIC Limited and its shareholders by providing the eligible participants with additional incentives to continue and increase their efforts in achieving success in the business of the Group, and attracting and retaining the best available personnel to participate in the on-going business operation of the Group. Pursuant to the Plan 2011, the board may at its discretion offer to grant share options to any eligible participant including any employee, executive director, non-executive director, independent non-executive director or officer, consultant or representative of any member of CITIC Limited who shall make payment of HK$1.00 to CITIC Limited on acceptance. The subscription price determined by the board shall not be less than the higher of (i) the nominal value of CITIC Limited’s shares; (ii) the closing price of CITIC Limited’s shares as stated in the daily quotations sheet of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) on the date of offer of the grant; and (iii) the average of the closing prices of CITIC Limited’s shares as stated in the Hong Kong Stock Exchange’s daily quotations sheets for the five business days immediately preceding the date of offer of the grant. The total number of CITIC Limited’s shares which may be issued upon exercise of all options to be granted under the Plan 2011 must not in aggregate exceed 10% of CITIC Limited’s shares in issue as at the date of adopting the Plan 2011. As at 30 June 2020, the total number of shares available for issue under the Plan 2011 is 364,944,416 shares. No share options were granted under the Plan 2011 during the six months ended 30 June 2020. Share Option Plan Adopted by Subsidiaries of CITIC Limited CITIC Telecom International Holdings Limited (”CITIC Telecom”) CITIC Telecom adopted a share option plan (“CITIC Telecom Share Option Plan”) on 17 May 2007, which was valid and effective till 16 May 2017. As approved at the annual general meeting of CITIC Telecom held on 25 April 2014, the mandate limit is refreshed so that taking into account the overriding limit of the CITIC Telecom Share Option Plan, the total number of shares of CITIC Telecom (“CITIC Telecom Shares”) which may be issued upon the exercise of all options to be granted under the CITIC Telecom Share Option Plan, together with all outstanding options granted and yet to be exercised as at 25 April 2014, shall not exceed 333,505,276 CITIC Telecom Shares, being 10% of the number of CITIC Telecom Shares in issue as at the date of approval of the refreshment of the mandate limit.