Intention to Redeem Securities

3 April 2023

The Hongkong and Shanghai Banking Corporation Limited

ANNOUNCES INTENTION TO REDEEM PRIMARY CAPITAL NOTES

The Hongkong and Shanghai Banking Corporation Limited (the 'Issuer') is announcing today that it intends to redeem the US$400,000,000 Primary Capital Undated Floating Rate Notes (Third Series) issued by it (ISIN: GB0004355490) (the 'Notes') in accordance with their terms and conditions.

The Issuer anticipates completing the redemption of the Notes on the interest payment date falling on 31 July 2023.

This announcement is not a formal notice of redemption in respect of the Notes. Before redeeming the Notes, the Issuer intends to give formal notice of redemption to the holders thereof in accordance with the terms and conditions of the Notes.

The Issuer's affiliate, HSBC Bank plc ('HBEU'), is also announcing today its intention to redeem the following notes issued by it: (i) the US$300,000,000 Undated Floating Rate Primary Capital Notes (Series 3) (ISIN: GB0005903413); (ii) the US$500,000,000 Undated Floating Rate Primary Capital Notes (ISIN: XS0015190423); and (iii) the US$750,000,000 Undated Floating Rate Primary Capital Notes (ISIN: GB0005902332).

This announcement is released by the Issuer and contains information that qualified as inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of the domestic law of the United Kingdom by virtue of the EUWA ('UK MAR'), encompassing information relating to the Notes described above. For the purposes of UK MAR, this announcement is made by Greg Case, Head of Fixed Income Investor Relations, on behalf of the Issuer.

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Forward looking statements

This announcement contains forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements may be identified by the use of terms such as 'expects,' 'targets,' 'believes,' 'seeks,' 'estimates,' 'may,' 'intends,' 'plan,' 'will,' 'should,' 'potential,' 'reasonably possible', 'anticipates,' 'project', or 'continue', variation of these words, the negative thereof or similar expressions or comparable terminology. The Issuer has based the forward-looking statements on current plans, information, data, estimates, expectations and projections about, among other things, results of operations, financial condition, prospects, strategies and future events, and therefore undue reliance should not be placed on them. These forward-looking statements are subject to risks, uncertainties and assumptions about the Issuer and HBEU, as described under 'Cautionary statement regarding forward-looking statements' contained in each of the Issuer's Annual Report and Accounts 2022 (the 'Issuer's 2022 ARA') and HBEU's Annual Report on Form 20-F for the year ended 31 December 2022, filed with the U.S. Securities and Exchange Commission on 22 February 2023 (the 'HBEU 2022 Form 20-F'). The Issuer does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur. Investors are cautioned not to place undue reliance on any forward-looking statements, which speak only as of their dates. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements. Additional information, including information on factors which may affect the business of the Issuer and HBEU, is contained in the Issuer's 2022 ARA and the HBEU 2022 Form 20-F.

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