#1Building a Global Biopharma Leader February 2024 zailǝb#22 Forward-Looking Statements This presentation contains forward-looking statements relating to our strategy and plans; potential of and expectations for our business and pipeline programs; our goals and expectations under our growth strategy (including our expectations regarding our commercial-stage products, clinical-stage global-right products, revenue growth / CAGR, profitability and timeline to profitability, operating margins, and cash flow); the peak sales potential of our programs; capital allocation and investment strategy; clinical development programs and related clinical trials; clinical trial data, data readouts, and presentations; risks and uncertainties associated with drug development, commercialization and outreach; regulatory discussions, submissions, filings, and approvals and the timing thereof; the potential benefits, safety, and efficacy of our products and product candidates and those of our collaboration partners; the expected benefits and potential of investments, collaborations, and business development activities; our future financial and operating results; and financial guidance. All statements, other than statements of historical fact, included in this presentation are forward-looking statements, and can be identified by words such as "aim," "anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend," "may," "plan," "possible," "potential," "target," "will," "would," and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this presentation and are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products, (2) our ability to obtain funding for our operations and business initiatives, (3) the results of clinical and pre-clinical development of our product candidates, (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates, (5) risks related to doing business in China, and (6) other factors discussed in our most recent annual and quarterly reports and other reports we have filed with the U.S. Securities and Exchange Commission (SEC). We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation. Our SEC filings can be found on our website at www.zailaboratory.com and on the SEC's website at http://www.sec.gov. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of Zai Lab Limited. zaiLab#3Our Vision - Leveraging Our Strength in China and Scientific Expertise to Become A Global Biopharma Leader zaiLab Key Market Trends Pipeline of late- stage potential FIC / BIC assets Substantial market potential with significant unmet needs Large patient pool with an aging population in China Strong commercial infrastructure & execution in China with high synergy Pricing reflects clinical value of innovative drugs in NRDL "Price driven" to "Clinical value-oriented" Global leaders with decades of R&D experience to identify and develop innovative drugs Policies fostering innovative drug development Accelerating regulatory pathway Expanding our innovative global drug pipeline China as a rising center of innovation for global market Increasing sourcing of innovation from China 3 Abbreviations: first-in-class (FIC), best-in-class (BIC), China's national reimbursement drug list (NRDL). zaiLab#4Significant Achievements in 2023 600 COMMERCIAL EXCELLENCE 00 PIPELINE / PRODUCT PROGRESS FY 2023 revenues grew 25% Y/Y; 31% Y/Y (CER*) - NRDL related sales rebates: $13.0M in 2023 vs. $5.3M in 2022 VYVGART® (efgartigimod alfa-fcab) Injection for Intravenous Use 400 mg/20 mL vial Once-daily oral Zejula niraparib XOPTUNE GIO™ QINLOCK (ripretinib) 50 mg tablets NUZYRA® (omadacycline) Approval, launch and NRDL listing Strong pre-NRDL launch w/ top hospitals Leading PARPI in OC in China1 40+% volume sold supported by SIP 2 NRDL listings w/ NUZYRA oral form added in '24 ✓ Three NDA acceptances in China SC efgartigimod (gMG) SUL-DUR (ABC)³ Repotrectinib (ROS1+ NSCLC) ✓ Positive pivotal data readouts SC efgartigimod (CIDP) KarXT (schizophrenia) TTFields (2L+ NSCLC) TIVDAK (2L+ CC) ✓ Global pipeline ZL-1310 (DLL3 ADC) Ph 1 initiated ZL-1218 (CCR8) Ph 1 initiated ZL-1102 (IL-17) Ph 2 initiating 4 Abbreviations: New Drug Application (NDA), sulbactam-durlobactam (SUL-DUR), Tumor Treating Fields (TTFields), acinetobacter baumannii-calcoaceticus complex (ABC), subcutaneous (SC), non-small cell lung cancer (NSCLC), chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), cervical cancer (CC), antibody-drug conjugate (ADC), ovarian cancer (OC), generalized myasthenia gravis (gMG), supplemental insurance plan (SIP), year-over-year (Y/Y), constant exchange rates (CER), China's national reimbursement drug list (NRDL). Notes: *Non-GAAP measures. (1) Based on IQVIA 4Q 2023 data and Company analysis, December 2023; (2) Supplemental Insurance Plan (SIP) is the regional customized commercial health insurance plans guided by provincial or municipal governments; (3) hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter baumannii-calcoaceticus complex. zaiLab#5KarXT Schizophrenia, ADP Expect Substantial Growth Over the Next Five Years 2023 2028 - NEW LAUNCHES WITH BLOCKBUSTER POTENTIAL Bemarituzumab FGFR2b GC/GEJ TTFields NSCLC, NSCLC BM, PC XACDURO® ABC 50% CAGR 2023-2028 Targeted Revenue Growth OTHER POTENTIAL NEAR-TERM DRUG LAUNCHES BEFORE 2023... ZEJULA®, OPTUNE®, QINLOCK®, NUZYRAⓇ VYVGARTⓇ (efgartigimod alfa-fcab) gMG*, CIDP, BP, TED 2023 tivdak AUGTYRO (repotrectinib) KRAZATI® Cervical cancer ROS1 NSCLC, NTRK solid tumors KRAS G12C NSCLC, CRC Abbreviations: generalized myasthenia gravis (gMG), chronic inflammatory demyelinating polyneuropathy (CIDP), bullous pemphigoid (BP), thyroid eye disease (TED), acinetobacter baumannii-calcoaceticus complex (ABC), non-small cell lung cancer (NSCLC), brain metastases from NSCLC (NSCLC BM), pancreatic cancer (PC), fibroblast growth factor receptor 2 (FGFR2b), gastric cancer (GC), gastroesophageal junction cancer (GEJ), Alzheimer's disease psychosis (ADP), neurotrophic tropomyosin receptor kinase (NTRK), colorectal cancer (CRC). 5 Note: The trademarks and registered trademarks within are the property of their respective owners. Timeline is not drawn to scale. *Efgartigimod's first indication, gMG, launched in China in September 2023 with IV formulation. 2028 zaiLǝb#66 Recent Policy Updates in China Continue to be Supportive of Innovation + "Price Driven" to "Patient-centric" & "Clinical Value-oriented" Overall Support for the Industry NMPA Fostering Innovative Drug Development NHSA Providing Better Support for Innovative Drugs Biotech designated as one of the pillar industries in China 14th Five Year Plan targets >10% annual growth in R&D expenditure for pharmaceutical industry Guiding principles for clinical value-oriented development of oncology drugs CDE guideline to accelerate review for innovative drugs' MAA "Simplified renewal" rules leading to milder price cuts and more clarity on pathways in 2023 Policies leaning towards innovative drugs' inclusion Abbreviations: National Medical Products Administration (NMPA), Center for Drug Evaluation (CDE), National Healthcare Security Administration (NHSA), Marketing Authorization Application (MAA). Sources: NHSA, NMPA, "China biopharma stepping on the global stage" issued on November 16, 2021, McKinsey & Company. zaiLab#7Paving the Way for Long-Term Growth 3 1 Substantial Topline Growth Top-tier growth profile in biopharma • Strong R&D and commercial execution. >>7 new launches in next 3 years > >15 commercial products by 2028 • Maximize potential with new indications 2 Achieve Profitability Target corporate profitability by end of 2025 • Increase productivity and leverage across the organization • Continue R&D prioritization • Cash resources¹ expected to take us through profitability Expand Global Pipeline Grow portfolio through internal discovery efforts and BD Targeted approach in certain TAs and modalities • Continue to strengthen global & China portfolio through BD • At least one global IND per year 7 Abbreviations: Investigational New Drug (IND), therapeutic area (TA), business development (BD). Note: (1) Cash and cash equivalents, short-term investments and restricted cash totaled $807.6 million as of December 31, 2023. zaj-ǝb#88 Driving Topline Growth Through Strong Commercial Execution Demonstrated Proven Commercial Capabilities Leveraging NRDL... Once-daily oral Zejula niraparib capsules 100 mg #1 share in PARPI OC hospital sales in China¹ Share in PARPI 45% hospital sales in China across all indications1 Significant Potential for VVVGART VYVGARTⓇ (efgartigimod alfa-fcab) Injection for Intravenous Use 400 mg/20 mL vial Covered by NRDL (~$800 / vial) Huge Unmet Need in China ...and supplemental insurance plan (SIP) Pipeline-in-a-product XOPTUNE TOP GIO™ 2 Reimbursed in SIP only after Keytruda; top 1 for Shanghai and Beijing² NRDL Price Reflects High Clinical Value Notes: The trademarks and registered trademarks within are the property of their respective owners. (1) Based on 4Q 2023 quarterly data from IQVIA Hospital Audit (>=100 beds), December 2023. "Share in PARPI" refers to hospital sales in value in China per IQVIA analysis; (2) Based on 4Q 2023 data, Meditrust Health disclosure. zaiLǝb#91 VYVGART Initial Progress Encouraging; Laying Foundation for Strong Growth 2023 Jun 30 Sep 5 2024 Jan 1 VYVGART (efgartigimod alfa-fcab) Injection for Intravenous Use 400 mg/20 mL vial Ⓡ 9 China NDA Approved 1st Dispatched & NRDL Included 1st Prescription Strong Launch in Q4'23 ✓ Top 200 target hospitals reached in-person by medical representatives¹ ✓ Nearly all top 100 HCPs have already prescribed VYVGART1 ✓ Brand awareness significantly boosted in Dec'23 through 4 months' marketing campaign 72% of HCPs surveyed are aware of VYVGART (up from 54%)² Nearly 1,000 est. patients treated (Sep'23 through Dec'23) • Jan'24 Progress and Next Steps ✓ Nearly 1,000 est. new patients treated in Jan 24 alone Drive awareness and adoption Expand outreach to ~1,000 hospitals in 2024, accounting for >80% of total patient volume Dedicated sales representatives ~150 post-NRDL Upcoming potential regulatory actions in China Efgartigimod SC in gMG under regulatory review Submission of sBLA in CIDP in 1H'24 Abbreviation: Healthcare professional (HCP). Notes: (1) As of December 31, 2023; (2) Based on a survey of 250 physicians, awareness of VYVGART rose from 54% to 72%. Sources: Expert Interview, BenHealth Consulting research and analysis, January 2024. zajǝb#1018 8 Late-Stage FIC / BIC Assets to Support Near to Mid-Term Growth VYVGART (efgartigimod alfa-fcab) Injection for Intravenous Use 400 mg/20 mL vial Indication Incidence / Prevalence FIC / BIC Limited No Tx CIDP 50K* AUGTYRO (repotrectinib) ROS1+ NSCLC 22K 2L+ CC 110K tivdak 2L+ HNSCC 71K 2L + NSCLC KRAZATI 1L NSCLC 43K1 2L+ CRC Bemarituzumab FGFR2b+ GC 126K 2L NSCLC 740K TTFields 1L PC 125K ✓ 1L NSCLC BM 13K *XACDURO ABC2 330K2 Key Differentiation Lack of innovative treatment options that are effective, well-tolerated, and convenient Opportunity to roughly double the ROS1 market based on longer duration of response, higher response rate and better safety profile First and only US-approved ADC for r/m cervical cancer Broad clinical program including POC in 1L r/m CC and 2L+ HNSCC Preferred 2L+ SoC for patients with KRASG12C Early efficacy in combination with I/O substantially exceeding SoC Potential first-to-market KRAS inhibitor in CRC in China No targeted therapies approved for patients with FGFR2b+ GC Novel, non-invasive treatment option without added systemic toxicity KarXT Schizophrenia ADP >8mn* ~4mn* First FDA approved pathogen-targeted therapy to treat ABC, the #1 WHO priority pathogen, in HABP & VABP Novel MOA with differentiated efficacy and safety profile No currently approved treatments for ADP Abbreviations: First-in-class (FIC), best-in-class (BIC), treatment (TX), proof of concept (POC), chronic inflammatory demyelinating polyneuropathy (CIDP), non-small cell lung cancer (NSCLC), cervical cancer (CC), head and neck squamous cell carcinoma (HNSCC), neurotrophic tropomyosin receptor kinase (NTRK), recurrent or metastatic (r/m), antibody-drug conjugate (ADC), standard of care (SoC), gastric cancer (GC), colorectal cancer (CRC), pancreatic cancer (PC), brain metastases (BM), hospital-acquired bacterial pneumonia (HABP), ventilator-associated bacterial pneumonia (VABP), acinetobacter baumannii-calcoaceticus complex (ABC), Alzheimer's disease psychosis (ADP). Source: China patient numbers are from Zai Lab market research. 10 Notes: * Prevalence. Prevalence/incidence in China does not consider diagnosis/treatment rate, urban rate, lines of therapy, etc. The trademarks and registered trademarks within are the property of their respective owners. (1) including KRAS G12C- mutated NSCLC, CRC and pancreatic cancer; (2) hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter baumannii-calcoaceticus complex; rights including Asia Pacific region. zajǝb#112 Path to Profitability Through Top-Line Growth and Operational Efficiencies 11 Revenues COGS SG&A R&D Strong revenue growth Target 50% CAGR for 2023-2028 • New product launches and maximize potential with new indications Significant room for improvement Increase in scale • Potential for more local manufacturing Increased productivity with synergies • Leveraging existing infrastructure to support new launches • Cost initiatives in place Capital efficient spending Continued portfolio prioritization Abbreviations: compound annual growth rate (CAGR), cost of goods sold (COGS), research and development expenses (R&D), selling, general and administrative expenses (SG&A). zaiLab#122 Therapeutic-Area-Focused Organization Drives Leadership and Leverage Marketed / Late- Stage Products Unlock Synergies with Additional Pipeline Assets to Launch WOMEN'S CANCER GI CANCER Once-daily oral Zejula niraparib capsules 100 mg QINLOCK® (ripretinib) 50 mg tablets LUNG CANCER AUGTYRO (repotrectinib) NEUROLOGY VÝVGART (efgartigimod alfa-fcab) (gMG) Ⓡ Pipeline Shared Function tivdak Repotrectinib¹ TA-Driven Sales Force2 Bemarituzumab Adagrasib KarXT Adagrasib TTFields Zipalertinib TTFields (ADP) Efgartigim od (CIDP) TA-Driven Marketing Government Affairs, Market Access and Distribution Commercial Strategy Excellence Oncology Shared Sales (Emerging Market)² TA-Driven Medical Affairs NSAID Shared Sales (Emerging Market)² 12 Abbreviations: Therapeutic area (TA), neuroscience, autoimmune and infectious diseases (NSAID), chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), generalized myasthenia gravis (gMG), Alzheimer's disease psychosis (ADP). Notes: The trademarks and registered trademarks within are the property of their respective owners. (1) NTRK+ breast cancer; (2) Core market (top hospitals in large cities) will be covered by TA-driven sales force; the remaining hospitals are emerging market covered by shared sales team. zailǝb#133 Building a Global Pipeline through Internal Discovery Efforts and... Focused Discovery Efforts ଢ Oncology Oncogenic Driver Mutations DNA Damage Repair & Synthetic Lethality TAA / TME targeted ADC / bispecific . Phase 1 ZL-1310 (DLL3 ADC) • A next generation ADC platform · Topoisomerase 1 inhibitor payload with high potency, high clearance and better permeability . ZL-1218 (CCR8) Phase 1 • A novel antibody targeting CCR8 receptors that are selectively expressed on Tregs in solid tumors . Demonstrated an encouraging pre-clinical profile (8 Immunology VHH Antibody • ZL-1102 (IL-17 HumabodyⓇ) High affinity human Vч fragment antibody targeting IL-17A H Entering Phase 2 • First-ever to demonstrate penetration of protein biologic through psoriatic skin resulting in clinical response¹ Aiming to Generate at Least One Global IND per Year Abbreviations: Variable domain of heavy chain of heavy chain antibody (VHH), tumor-associated antigen (TAA), regulatory T cells (Tregs), tumor microenvironment (TME), antibody-drug conjugate (ADC), investigation new drug (IND). Note: (1) Topical application of a novel anti-interleukin-17A antibody fragment penetrates psoriatic skin: Results of a randomized, double-blind, placebo-controlled Phase Ib study, 2023. zaiLab 13#143 ...Continuing To Expand our Pipeline Globally and Regionally with Our Proven BD Expertise Outstanding BD track record driven by deep scientific rigor Asset Once-daily oral Zejula niraparib Bemarituzumab Zipalertinib AUGTYRO (repotrectinib) tivdak tisotumab vedotin-tftv for injection 40 mg KRAZATI KarXT xanomeline-trospium and strong market insight Original partner TESARO FivePríme cullinan ONCOLOGY Turning Point Therapeutics' Seagen MIRATI THERAPEUTICS KARUNA THERAPEUTICS M&A by... gsk AMGEN TAIHO TAIHO PHARMA ll Bristol Myers Squibb 2Pfizer Bristol Myers Squibb * Bristol Myers Squibb Ongoing strategy: Leverage strong capability to identify and develop global assets Continue to identify regional opportunities with FIC BIC potential Opportunistic to strategic partnership to create share- holder value 14 All demonstrated positive study results Many assets were in-licensed at early clinical stage Abbreviations: first-in-class (FIC), best-in-class (BIC). Note: The trademarks and registered trademarks within are the property of their respective owners. * Previously announced proposed acquisition of Karuna by Bristol Myers Squibb expected to close in the first half of 2024. zaiLab#15Key 2024 Priorities, Milestones and Catalysts Commercial Execution VYVGART ramp-up in gMG post-NRDL Maintain ZE JULA leadership position in ovarian cancer Continue to grow supplemental coverage support for Optune Clinical Data and Regulatory Actions Potential China approvals • • SUL-DUR (ABC) • SC efgartigimod (gMG) Repotrectinib (ROS1 NSCLC) Planned China submissions • SC efgartigimod (CIDP) Clinical Development • Bemarituzumab in two Ph3 trials KarXT bridging confirmatory study in China ZL-1102 (IL-17 HumabodyⓇ) moving into full global Ph2 development • Adagrasib (2L+ NSCLC) . TIVDAK (2L+ CC) ⚫TTFields (2L+ NSCLC) Key clinical data TTFields in 1L NSCLC BM and 1L pancreatic cancer • • Enroll patients in global Ph1 study for ZL-1310 (DLL3) Adagrasib in 1L NSCLC and 2L+ NSCLC1 Abbreviations: National reimbursement drug list (NRDL), non-small cell lung cancer (NSCLC), brain metastases from NSCLC (NSCLC BM), acinetobacter baumannii-calcoaceticus complex (ABC), chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), generalized myasthenia gravis (gMG), cervical cancer (CC). 15 Note: (1) Subject to satisfaction of customary closing conditions; anticipated closing by 1H 2024. The data readouts are referring to Phase 2 KRYSTAL-17 study for 1L NSCLC (TPS<50%) and Phase 3 KRYSTAL-12 study for 2L+ NSCLC. zaiLab#16Delivering an Exciting 2024 and Beyond Patient Centric & Clinical Value Oriented "C Substantial Topline Growth Achieve Profitability " Expand Global Pipeline Our Ambition: Leveraging our strength in China and scientific expertise to become a global biopharma leader zaj ǝb#17MA Appendix - A. Key Catalysts B. Supplementary Slides. C. Clinical Pipeline and Selected Studies and Data zaiLǝb#1818 Infectious Oncology Autoimmune Disorders Neuroscience Disease 2024 Milestones and Catalysts Zai Lab Partner ZEJULA (PARPi) Tumor Treating Fields Key Events 1H'24 2H'24 Data Regulatory Final OS analysis of the China Ph3 NORA study MAA submission to the NMPA in 2L+ NSCLC Data Data Tisotumab Vedotin Regulatory Topline data readout from the Ph3 METIS study in 1L NSCLC BM in 1Q'24 Topline data readout from the Ph3 PANOVA-3 study in 1L PC in 4Q'24 NDA submission to the NMPA in 2L+ CC (TIVDAK) Adagrasib (KRAS G12C) Data Data Enrollment Regulatory Bemarituzumab (FGFR2b) Repotrectinib (ROS1/TRK) Zipalertinib (EGFRex20ins) Sulbactam-Durlobactam Regulatory Enrollment Regulatory Regulatory Enrollment Regulatory Enrollment Clinical data update for the global confirmatory Ph3 KRYSTAL-12 study in 2L+ NSCLC Clinical data update for the global Ph2 KRYSTAL-17 study in 1L NSCLC with TPS < 50% Join the global Ph3 KRYSTAL-7 study in 1L NSCLC with TPS ≥ 50% in China Potential FDA approval in 3L+ CRC (PDUFA goal date on Jun 21, 2024) NDA submission to the NMPA in 2L+ NSCLC Join the global Ph3 FORTITUDE-102 study in 1L GC / GEJ cancer in China Xanomeline-Trospium (KarXT) Efgartigimod (FcRn) ZL-1102 (IL-17A) Regulatory Data Enrollment Regulatory Enrollment Regulatory Regulatory Data Enrollment SBLA submission to the NMPA in CIDP in 1H'24 Potential NDA approval in ROS1+ NSCLC by the NMPA Potential FDA approval in NTRK+ solid tumors (PDUFA goal date on Jun 15, 2024) Join the global Ph3 REZILIENT3 study in 1L NSCLC with exon 20 insertion mutations in China Potential NDA approval for ABC by the NMPA Enrollment completion in the China bridging study in schizophrenia in 4Q'24 Topline data from the EMERGENT-4 and EMERGENT-5 trials evaluating the long-term safety in 2H'24 Join the global Ph3 ADEPT-2 and ADEPT-3 studies in ADP in China in mid-24 Potential sBLA approval for gMG (SC) by the NMPA Join the global Ph3 studies in TED in China in 2H'24 Potential FDA approval in CIDP (PDUFA goal date on Jun 21, 2024) POC data readouts for Primary Sjogren's syndrome (1H'24), PC-POTS (1H'24) and myositis (2H'24) Initiate a global Ph2 study for mild-to-moderate chronic plaque psoriasis in mid-24 Abbreviations: Marketing Authorisation Application (MAA), colorectal cancer (CRC), thyroid eye disease (TED), proof of concept (POC), Alzheimer's Disease Psychosis (ADP), Post-COVID Postural Orthostatic Tachycardia Syndrome (PC-POTS). Potential FDA approval and launch in schizophrenia (PDUFA goal date on Sept 26, 2024)#1919 Zai Lab's Increasing Global Footprint and Growing Scale Zai Lab Operations Today · • • Research & Development >50 clinical trials ongoing / planned No reliance on CROS Discovery operations in Shanghai, Suzhou, California, and Cambridge Shanghai (HQ & R&D) California Cambridge (R&D, BD, etc.) Europe (R&D, BD, etc.) (BD) Guangzhou (commercial) Commercial Commercial presence in mainland China, Hong Kong, Taiwan and Macau Sales force experience in all top 10 innovative drugs in China Note: Employee numbers as of December 31, 2023. Headquarters / Regional Centers Zai Offices ~2.1K employees ~760 R&D ~1,140 Commercial Others Suzhou Beijing (clinical & regulatory) (manufacturing, R&D) Taiwan (commercial) Hong Kong (commercial) . Manufacturing Two cGMP-compliant manufacturing facilities R&D center and Suzhou campus under development zajlǝb#2020 Oncology Validated and Differentiated Clinical Pipeline Program Preclinical Phase I Phase II Phase III / Pivotal Registration US Once-daily oral Zejula (PARPi) niraparib XOPTUNE GIO Tumor Treating Fields QINLOCK (KIT, PDGFRA) (ripretinib) tivdak (TF ADC) tisotumab vedotin-tftv for injection 40 mg KRAZATI (KRAS G12C) AUGTYRO (ROS1, TRK) (repotrectinib) Bemarituzumab (FGFR2b) Zipalertinib (EGFR Ex20ins) ZL-1218 (CCR8) ZL-1310 (DLL3) Ovarian Cancer (1st line maintenance)1 Ovarian Cancer (Platinum sensitive relapsed maintenance)1 Glioblastoma (GBM)² Non-Small Cell Lung Cancer (NSCLC) Brain Metastases from NSCLC Pancreatic Cancer Gastric Cancer³ Gastrointestinal Stromal Tumors (GIST) (4th line)4 Cervical Cancer (2nd line+ r/m) 5 Cervical Cancer (1st line r/m, combo)6* Other tumors (mono/combo)7* NSCLC (mono/combo)8 Colorectal Cancer (mono/combo) ROS1+ NSCLC, NTRK+ solid tumors FGFR2b+ Gastric/GEJ Cancer⁹ EGFR Ex20ins NSCLC10* Solid Tumors SCLC US Approved Mainland China Commercial Territories Mainland China, Hong Kong and Macau Greater China *: Greater China Greater China Greater China US Mainland China Greater China Greater China Greater China Global Global zaiLab#21Autoimmune Disorders Neuroscience Infectious Disease Validated and Differentiated Clinical Pipeline (Cont'd) Program Preclinical Phase I Phase II Phase III / Pivotal Registration US NUZY RA® (omadacycline) Sulbactam-Durlobactam Acute Bacterial Skin and Skin Structure Infections (ABSSSI) Community-Acquired Bacterial Pneumonia (CABP) Acinetobacter Baumannii-calcoaceticus Complex (ABC) Mainland China ★ Schizophrenia (psychosis) ★ US Xanomeline-Trospium (KarXT) Schizophrenia (adjunctive therapy)* Psychosis in Alzheimer's Disease* Generalized Myasthenia Gravis (gMG) VÝVGART Ⓡ Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) ★ US VYVGART Hytrulo Bullous Pemphigoid Efgartigimod (FcRn) Thyroid Eye Disease (TED)* Lupus Nephritis 12 Membranous Nephropathy12 Psoriasis Approved Commercial Mainland China Territories Greater China Asia Pacific 11 O Greater China Greater China 21 ZL-1102 (IL-17) Global Abbreviations: Immuno-oncology (I/O), B-cell non-Hodgkin lymphoma (B-NHL), relapsed or refractory (r/r), recurrent or metastatic (r/m), follicular lymphoma (FL), diffuse large B-cell lymphoma (DLBCL), neurotrophic tropomyosin receptor kinase (NTRK), small cell lung cancer (SCLC). Notes: The trademarks and registered trademarks within are the property of their respective owners.*Greater China trial in preparation or under planning. Greater China = mainland China, Hong Kong, Macau and Taiwan. (1) Also launched in Hong Kong and Macau; (2) Commercially available in Hong Kong; (3) Greater China-only trial; (4) Also approved in Hong Kong and Taiwan; (5) FDA accelerated approval; continued approval may be contingent on verification and confirmation of clinical benefit in confirmatory trials; (6) Combination with carboplatin and KEYTRUDA +/- bevacizumab; (7) 1st line+ locally advanced or metastatic disease in solid tumors including colorectal cancer, pancreatic cancer, non-small cell lung cancer, and head and neck cancer; monotherapy and combination with KEYTRUDA and either carboplatin or cisplatin; (8) FDA accelerated approval of KRAZATI for 2L+ NSCLC with KRAS G12C mutation in December 2022; (9) Global Ph3 studies continue to enroll patients; (10) Global Ph3 study in 1L NSCLC with exon 20 insertion mutations is active enrolling; (11) Zai Lab has exclusive license to develop and commercialize SUL-DUR in mainland China, Hong Kong, Taiwan, Macau, Korea, Vietnam, Thailand, Cambodia, Laos, Malaysia, Indonesia, the Philippines, Singapore, Australia, New Zealand, and Japan; (12) Initiated enrollment of two proof-of-concept trials in autoimmune renal diseases in China in February 2023. zaiLab#22Commercial Success with Science- and Portfolio-Driven Strategy Expanded Patient Access to Five Commercial-Stage Products with Significant Revenue Growth Once-daily oral Zejula niraparib capsules 100 m Supported by NRDL NRDL as the only PARPI included for first-line and recurrent all-comer settings in ovarian cancer Category 1 innovative drug • · XOPTUNE Only-in-class GIO™ innovative treatment option for GBM No. 2 reimbursed in supplemental insurance plans (SIP)1 QINLOCK (ripretinib) 50 mg tablets NRDL Potential best-in- class treatment for advanced GIST Recommended for both 2L GIST and 4L OGIST in China's 2023 CSCO Guidelines² • NUZYRAⓇ (omadacycline NRDL Once-daily IV/PO broad-spectrum tetracycline with favorable safety and tolerability profile Category 1 innovative drug • VÝVGART (efgartigimod alfa-fcab) Injection for Intravenous Use 400 mg/20 mL vial NRDL First approved FcRn blocker in the U.S., EU, Japan, and China ⚫ Pipeline-in-a- product: 15 in development by 20253 Ⓡ 22 Abbreviations: Glioblastoma multiforme (GBM), gastrointestinal stromal tumors (GIST), intravenous (IV). Notes: The trademarks and registered trademarks within are property of their respective owners. (1) Based on 4Q 2023 data, Meditrust Health disclosure; (2) Chinese Society of Clinical Oncology (CSCO) Guidelines for Diagnosis and Treatment of Gastrointestinal Stromal Tumors 2023. In September 2023, QINLOCK was upgraded to the level I recommendation for second-line GIST patients harboring KIT exon 11 mutation with Category 1A evidence, based on the results from global Phase 3 INTRIGUE study and China bridging study; (3) indications under development by argenx, for which Zai Lab may consider for future development. argenx corporate presentation, November 2023. zaiLab#23Approved ZEJULA Only PARP Inhibitor Approved in First-Line Ovarian Cancer for All Comers Regardless of Biomarker Status (PRIMA and PRIME Study) 100 90 80 60 10 70 China PRIME Study - ZEJULA demonstrated a statistically significant and clinically meaningful improvement in PFS with a tolerable safety profile in Chinese patients with newly diagnosed ovarian cancer following a response to platinum-based chemotherapy, regardless of biomarker status PFS (by BICR) in the ITT Population - Primary Endpoint HR (95% CI), 0.45 (0.34–0.60) p<0.001 16.5 months longer median PFS with niraparib versus placebo Progression-free survival (%) 60 60 50 50 40- 30- ++ 20 Niraparib 10- + Placebo Median follow-up: 27.5 months Censored observation 0 0 3 6 9 12 15 18 21 24 -24 27 30 33 36 39 Months since randomization Number at risk 255 129 227 101 207 74 186 54 170 44 151 40 136 37 125 36 103 32 72 41 24 17 34 13 0 1 0 0 Niraparib Placebo (N=255) (N=129) PFS (54.4% data maturity) Events, n (%) 123 (48.2) (95% CI), months (19.2-NE) Patients without PD or death (%) 86 (66.7) mPFS 24.8 8.3 (7.3-11.1) 24 months 52.6 30.4 . ⚫ The safety profile of niraparib was improved with ISD prospectively applied to all patients 23 Abbreviations: Blinded independent central review (BICR), confidence interval (CI), hazard ratio (HR), intention-to-treat (ITT), median progression-free survival (mPFS), not estimable (NE), progressive disease (PD), overal surival (OS), individualized starting dose (ISD). Note: Additional efficacy and safety data from the Phase 3 PRIME study of ZEJULA (niraparib) presented by Dr. Lingying Wu, Director of the Department of Gynecologic Oncology, National Cancer Center / National Clinical Research Center for Cancer / Cancer Hospital, Chinese Academy of Medical Sciences and Peking Union Medical College, Society of Gynecologic Oncology Annual Meeting, March 2022. Clinical Data - Oncology#24Approved ZEJULA First Fully Powered, Randomized, Controlled (RCT) Phase 3 Trial Ever Conducted in Ovarian Cancer in China (NORA Study) China NORA study - An individualized starting dose (ISD) regimen preserved efficacy and improved safety profile in Chinese patients, underscoring the promise of ZEJULA as a maintenance therapy for Chinese patients with platinum-sensitive recurrent ovarian cancer 100 ☑ PFS (by BICR) in the ITT Population - Primary Endpoint 70% Reduction of Hazard for Relapse or Death with Niraparib 80 60 60 60 Progression-free Survival, % 40 40 Niraparib --Placebo X Median PFS Niraparib (n=166) Placebo (n=83) Months (95% CI) 18.3 (11.0-NE) 5.4 (3.7-5.7) Hazard Ratio (95% CI) 0.30 (0.21-0.43) p-value* <0.0001 Clinical Data - Oncology 0 T T 0 2 4 6 8 10 12 14 Time Since Randomization (months) 16 18 20 20 No. of Patients at Risk Niraparib 166 151 129 110 97 86 67 40 22 22 5 Placebo 83 62 40 26 16 10 9 6 6 6 Current Status 22 22 24 • . 1 0 Only PARP inhibitor included in the NRDL as first-line and recurrent maintenance treatment for ovarian cancer patients regardless of biomarker status in China *p-value is from stratified log-rank test China NORA study met all primary and secondary endpoints ISD regimen based on weight and platelets was shown to be effective, with lower rates of anemia and thrombocytopenia Core Opportunity The leader in PARPi hospital sales for ovarian cancer in China (~55K incidence) 24 20 20 Abbreviations: Randomized clinical trial (RCT), blinded independent central review (BICR), confidence interval (CI), intention-to-treat (ITT), progression-free survival (PFS), not estimable (NE). Sources: Zai Lab ESMO presentation, September 2020; Globocan, 2020.#2525 ZEJULA Favorable Overall Survival (OS) Trend in All Patient Groups Compared with Placebo (NORA Study) Approved China NORA Phase 3 Study - Interim OS Analysis at 2022 ESMO Virtual Plenary 1,2 OS in the ITT Population OS Subgroup Analysis in gBRC Amut OS Subgroup Analysis in non-gBRCAmut Median OS (months) Niraparib (n=177) Placebo (n=88) Median OS (months) Niraparib (n=65) Placebo (n=35) Median OS (months) Niraparib (n=112) Placebo (n=53) Months (95% CI) 46.32 (41.03-NE) (33.08-NE) 43.37 Months (95% CI) NR (35.38-NE) 47.61 (31.57-NE) Months (95% CI) 43.10 (38.41-NE) 38.41 (29.54-NE) Hazard Ratio (95% CI) Hazard Ratio (95% CI) 0.76 (0.40-1.46) Hazard Ratio (95% CI) 0.86 (0.53-1.38) Once-daily oral Zejula niraparib capsules 100 mg 0.82 (0.56-1.21) Key Conclusion ZEJULA maintenance treatment using an individualized starting dose (ISD) regimen provides a favorable OS trend irrespective of gBRCA status compared with placebo • Next Steps & Core Opportunity Full OS analysis of the NORA study is expected at an upcoming medical conference in 2024 ⚫ Zai Lab independently conducted the PRIME study for first-line ovarian cancer in China Abbreviations: overall survival (OS), intention to treat (ITT), confidence interval (CI), not evaluable (NE), not reached (NR). Sources: Zai Lab presentation at 2022 ESMO Virtual Plenary; Globocan, 2020. Notes: (1) Ad hoc Interim Overall Survival Results of Niraparib with Individualized Starting Dose as Maintenance Therapy in Patients with Platinum-Sensitive Recurrent Ovarian Cancer (NORA): A Double-blind, Randomized, Placebo-controlled, Phase 3 trial; Data cutoff date was September 23, 2022; (2) Median follow-up time for OS in niraparib and placebo arm was 45.7 and 44.5 months. Clinical Data - Oncology#26Tumor Treating Fields Significant Pan-Tumor Potential in China Build On and Exceed OPTUNE GIOⓇ (GBM) • Shaping the market for TTFields • Leader in leveraging Supplemental Insurance Plans . Scalable business model • National reimbursement potential to drive 740K 5x penetration NSCLC Phase 3 45K GBM $47M annual revenue (2023) 13K Brain Metastases from NSCLC Phase 3 125K Pancreatic Cancer Phase 3 ~40x CURRENT MARKET OPPORTUNITY 410K Liver Cancer Phase 2* 480K Gastric Cancer Phase 2 26 Note: Patient numbers are China and incidence from Zai Lab market research. * Zai Lab has not participated in the study in Greater China zajǝb#2727 Tumor Treating Fields Survival Benefit in GBM in Global Phase 3 Trials XOPTUNE GIO™ GBM (Newly Diagnosed) – Doubling of five-year survival rate First novel treatment in GBM approved in US and China in >15 years EF-14 PHASE 3 PIVOTAL STUDY IN NEWLY DIAGNOSED GBM Overall survival (5-year survival analysis) - 43% Probability of Survival 1.0 Optune Gio + TMZ (n=466) TMZ alone (n=229) Median OS from randomization (months) Log-rank P-value 20.9 16.0 <0.001 HR (95% CI) 0.63 (0.53-0.76) Median OS from diagnosis (months) 24.5 19.8 0.9 0.8 0.7- 0.6 0.5 0.4 Optune Gio +TMZ 43% P<0.001 Optune Gio + TMZ NEARLY HALF of people using Optune Gio + TMZ ALIVE AT 2 YEARS Optune Gio + TMZ 13% BETTER 13% survival at 5 YEARS 5% TMZ alone Current Status & Core Opportunity China approval in newly diagnosed and recurrent GBM (>45K annual incidence) in May 20201 with trial waiver 0.3 0.2- 31% TMZ alone 0.1 0.0 5% TMZ 0 6 12 18 24 30 36 42 2-year overall survival 48 5-year overall survival alone 54 60 Overall Survival (months) Sources: Novocure corporate presentation, January 2024; Globocan, 2020. Notes: The trademarks and registered trademarks within are the property of their respective owners. (1) Approvals for Optune GIO in combination with temozolomide for the treatment of patients with newly diagnosed GBM, and as a monotherapy for the treatment of patients with recurrent GBM. Clinical Data - Oncology Approved#2828 Tumor Treating Fields Late-stage Pivotal LUNAR Study in Non-Small Cell Lung Cancer Met Primary Overall Survival Endpoint Primary Data Summary of LUNAR study (N=276) LUNAR Phase 3 Trial of TTFields with Standard of Care for Metastatic Non-Small Cell Lung Cancer Key Secondary • OS with TTFields + SOC OS in ICI-treated subgroup vs SOC alone • OS in docetaxel-treated subgroup TTFields + SOC provided a statistically significant and clinically meaningful 3-month improvement in mOS vs SOC ➤ Statistically significant ~8-month increase in mOS with TTFields an ICI (from 10.8 to 18.5 months) There was a 2.4-month difference in mOS with TTFields + docetaxel (from 8.7 to 11.1 months) No added systemic toxicities Next Steps and Core Opportunity Next Steps • Core Opportunity Lung cancer is the most common cancer type • FDA accepted for filing the Premarket Approval (PMA) application in January 2024 for treatment of 2L+ NSCLC in China, with ~740K new NSCLC cases¹ diagnosed each year . Zai Lab plans to submit Marketing Authorization Application (MAA) to the NMPA for this indication in 2024, following the U.S. submission • Initiative on reimbursement for innovative medical devices - first access planned at provincial level2 Note: (1) Changfa Xia, et al. Cancer statistics in China and United States, 2022: profiles, trends, and determinants; (2) In May 2023, NHSA published an announcement collecting opinions on making related polices regarding the medical insurance listing for consumables at the provincial level. Clinical Data - Oncology#2929 QINLOCK A Potential Best-In-Class Treatment for Advanced GIST QINLOCK (ripretinib) 50 mg tablets mPFS ORR MOS Ripretinib (n = 85) 6.3 months (27.6 weeks) 9.4% 15.1 months Placebo (n = 44)¹ 1.0 month (4.1 weeks) p-value <0.0001 0% 6.6 months Approved 0.0504 Nominal p-value = 0.00042 Significantly reduced the risk of disease progression or death by 85% (Hazard Ratio of 0.15, p-value <0.0001) compared to placebo Current Status QINLOCK remains the standard of care and only approved therapy in patients with 4L GIST; Successful NRDL inclusion in March 2023 Core Opportunity ~30K annual incidence of GIST in China; many GIST patients on TKIs develop tumor progression due to secondary mutations Source: Deciphera corporate presentation, September 2019. Notes: TKIs tyrosine kinase inhibitors. The trademarks and registered trademarks within are the property of their respective owners. (1) One patient was randomized to placebo but did not receive study drug; (2) According to the pre- specified hierarchical testing procedure of the endpoints, the hypothesis testing of mOS cannot be formally conducted unless the test of ORR is statistically significant. Because statistical significance was not achieved for ORR, the hypothesis testing of OS was not formally performed. Clinical Data - Oncology#30Repotrectinib Potential to Be Best-in-Class ROS1/TRK Inhibitor in TKI-Naïve and Treatment- Resistant Settings Approved (U.S.) Indications: Strategic Collaboration with Turning Point Therapeutics¹ on Repotrectinib Ongoing global registrational Phase 1/2 TRIDENT-1 study ROS1+ advanced NSCLC in TKI-naïve and -pretreated patients; NTRK+ solid tumors in TKI-naïve and -pretreated patients An important late-stage asset to strengthen our lung cancer franchise Positive Topline Results from Global TRIDENT-1 Study and China Subpopulation Global Topline Efficacy Analyses ROS1+ TKI-naïve NSCLC (n=71): CORR 78.9%²; m PFS 35.7 mos³ ROS1+ TKI-pretreated NSCLC with 1 prior TKI and 1 prior chemotherapy (n=26): CORR 42.3%2 ROS1+ TKI-pretreated NSCLC with 2 prior TKIs without prior chemotherapy (n=18): CORR 27.8%2 ROS1+ TKI-pretreated NSCLC with 1 prior TKI without prior chemotherapy (n=56): CORR 37.5%²; mPFS 9.0 mos³ – NTRK+ TKI-naïve advanced solid tumors (n=35): CORR 54%4 NTRK+ TKI-pretreated advanced solid tumors (n=44): CORR 43.2%4 Next Step Potential NDA approval for ROS1 NSCLC by NMPA in 2024 China Subpopulation Topline Efficacy Analyses 5 ROS1+ TKI-naïve NSCLC: CORR 91% (n=11) ROS1+ TKI-pretreated NSCLC with 1 prior TKI and prior chemotherapy: CORR 67% (n=3) ROS1+ TKI-pretreated NSCLC with 2 prior TKIs without prior chemotherapy: CORR 50% (n=4) ROS1+ TKI-pretreated NSCLC with 1 prior TKI without prior chemotherapy: CORR 36% (n=11) Core Opportunity 14K-21K annual incidence of ROS1 rearrangement of NSCLC (2~3%); NTRK of ~0.5% with other advanced solid tumors 6 in China 30 Abbreviations: Blinded Independent Central Review (BICR), confirmed objective response rate (CORR). Notes: (1) A wholly owned subsidiary of Bristol Myers Squibb Company. (2) ENA 2022 presentation number 2LBA, ORR per RECIST 1.1 and assessed by BICR; primary efficacy population includes patients pooled from Phase 1 and 2 that began repotrectinib treatment at least 8 months prior to data cutoff date of June 20, 2022; (3) An oral presentation (Abstract #OA03.06) at the IASLC 2023; (4) ENA 2022 poster #209, ORR per investigator; efficacy data cutoff date for NTRK+ cohorts is August 24, 2022; (5) Data from the Phase 2 portion of TRIDENT-1 with a data cutoff of 11-Feb-2022 with responses confirmed per RECIST 1.1 and assessed by BICR; (6) Zhang et al. Prevalence of ROS1 fusion in Chinese patients with non-small cell lung cancer, Thoracic Cancer January 2019; Farago AF, Le LP, Zheng Z, Muzikansky A, Drilon A, Patel M, et al. Durable Clinical Response to Entrectinib in NTRK1-Rearranged Non-Small Cell Lung Cancer. J Thorac Oncol. 2015;10(12):1670-4.. Clinical Data - Oncology#31TIVDAK Strong Clinical Data Leading to Accelerated Approval in 2L+ Cervical Cancer with Clinical Development Ongoing in Other Indications Clinically Meaningful and Durable Responses, Combined with a Tolerable Safety Profile¹ Strong Mono Efficacy Data ■ A statistically significant and clinically meaningful improvement in OS - The hazard ratio for OS was 0.70, demonstrating a 30% reduction in the risk of death ■ Consistent benefit in PFS and confirmed ORR were supportive of the observed OS benefit with TIVDAK ◉ Most TRAEs were grade 1/2 Approved (U.S.) Broad TIVDAK Development Program in Front Line Cervical Cancer and Other Solid Tumor Trial innovaTV-204 2L+R/M, mono III Detail Phase Approved² Cervical innova TV-3013 2L+ global R/M, mono Cancer innova TV-205 1L R/M, combo with carboplatin and KEYTRUDA +/- bevacizumab I/II Other Tumors innova TV-207 1L+ locally advanced or metastatic disease in solid tumors4; mono and combo with KEYTRUDA and either carboplatin or cisplatin || Tolerable Safety Profile ☐ Most peripheral neuropathy events (known MMAE-related toxicity) were grade 1 and manageable ■ Ocular AEs were mostly mild to moderate, manageable with eye care plan . Zai Development Plan 1L CC and HNSCC: to consider joining global pivotal studies after global development plan confirmed • 2L+ CC: Joined the global Ph3 confirmatory study in 1Q 2023 31 Abbreviations: second line (2L), cervical cancer (CC), recurrent or metastatic (R/M), treatment-related adverse events (TRAE), adverse events (AE), Medically Attended Adverse Events (MMAE), Head and Neck Squamous Cell Carcinoma (HNSCC). Notes: (1) TIVDAK innovaTV-301 ESMO 2023 presentation; (2) FDA accelerated approval; continued approval may be contingent on verification and confirmation of clinical benefit in confirmatory trials; (3) Results from innovaTV 301 intended to serve as pivotal confirmatory trial for U.S. accelerated approval and to support global regulatory applications; (4) Includes colorectal cancer, pancreatic cancer, non-small cell lung cancer, and head and neck cancer. Clinical Data - Oncology#3232 TIVDAK First and Only U.S. Approved ADC for Recurrent or Metastatic Cervical Cancer with Disease Progression on or After Chemotherapy innova TV 205 Combination Data in 1L Cervical Cancer Presented at ASCO 20221 1L TV + KEYTRUDA (N=32)² 1L TV + carbo (N=33)³ Confirmed ORR 40.6% (23.7, 59.4) 54.5% (36.4, 71.9) • Complete response rate 15.6% 12.1% Partial response rate 25.0% 42.4% Median DOR Not Reached 8.6 Approved Current Status & Next Step FDA approval in 2L+ CC in September 2021 Broad development program in cervical cancer and other solid tumor indications ongoing Potential China NDA submission in 2L+ CC in 2024 (U.S.) Dose expansion cohorts of TV in combination with KEYTRUDA or carboplatin in R/M CC demonstrated encouraging anti-tumor activity The safety profiles in combination were manageable and tolerable and in line with the safety profiles seen with the individual agents ⚫ innovaTV 205 trial is ongoing, and a new cohort will be added to investigate the combination of TV + carboplatin and pembrolizumab + bevacizumab as 1L treatment for R/M CC Core Opportunity ~110K annual incidence of cervical cancer in China 4, with limited treatment options for patients who progress on or after chemotherapy Abbreviations: Tivdak (TV), recurrent or metastatic cervical cancer (R/M CC), carboplatin (carbo), first-line (1L). Notes: (1) Lorusso et al., ASCO 2022; (2) median follow-up of 18.8 months; (3) median follow-up of 14.6 months; (4) Globocan 2020. Clinical Data - Oncology#33Adagrasib Potentially Differentiated Therapy in NSCLC for Patients with KRAS G12C Mutations Approved (U.S.) 2L+ NSCLC: KRYSTAL-1 Study1 KRAZATI KRAZATI (adagrasib tablets) MIRATI 200 mg 180 tablets NOC 80739-812-18 Ra Only KRAZATI (adagrasib tablets) MIRATI THERAPEUTICE 200 mg 180 tablets ORR (n=128): 43.0% mPFS (n=128): 6.9 months (95% CI, 5.4-8.7) mOS (n=132): 14.1 months (95% CI, 9.2-18.7) Exploratory analyses suggested durable clinical benefit in patients with treated, stable CNS metastases at baseline (mOS of 14.7 months) CNS metastases occur in 27%-42% of patients with KRASG12C-mutated NSCLC at diagnosis • • Current Status & Next steps FDA accelerated approval in 2L+ NSCLC with KRASG12C mutation in December 2022 Topline data readout for the ongoing confirmatory KRYSTAL-12 Phase 3 study expected in 1H 2024 Zai Lab is preparing for China NDA submission in 2024 33 1L NSCLC with TPS ≥ 50% • Demonstrated early efficacy in combination with pembrolizumab • • 63% ORR 2,3,4 (n=56) • Substantially exceeds standard of care historical benchmark of 39%-45% 5,6 Combination is well tolerated with low rates of clinically meaningful liver TRAES Abbreviation: Central nervous system (CNS). Sources: WCLC 2023; BMS presentation on the acquisition of Mirati on October 8, 2023. Next step Enrollment in Phase 3 adagrasib +/- pembrolizumab study . 1L NSCLC with TPS < 50% Strategy to raise the standard of care through combination with chemotherapy and pembrolizumab Adagrasib chemo-pembro combination Phase 2 study underway (KRYSTAL-17) Next step Data for KRYSTAL-17 Phase 2 study expected in 1H 2024 Notes: The trademarks and registered trademarks within are the property of their respective owners. (1) Two-year follow-up of data for 132 patients in Phase 1/1b dose escalation and expansion cohorts and Phase 2 Cohort A of KRYSTAL-1 (Data as of 1 January 2023; median follow-up: 26.9 months); (2) One confirmed response confirmed subsequent to data cut off; full analysis set includes 3 protocol violations (n=56); (3) Excluding 3 protocol violations, ORR was 66% (n=53); (4) Among clinical activity evaluable (CAE) patients, defined as receiving at least one dose of adagrasib (400 mg BID) + pembrolizumab, having measurable disease at baseline, and having at least one post-baseline tumor assessment, the ÒRR was 71% (n=49); (5) ORR of 39% from KEYNOTE-42 and ORR of 45% from KEYNOTE-24; (6) For illustrative purposes only: no head-to-head clinical trial has been conducted. Clinical Data - Oncology#34+ Adagrasib ± Cetuximab Compelling Early Efficacy in Pre-Treated Patients with Colorectal Cancer Late-stage Prognosis on SoC in CRC with KRAS G12C Mutations Population Historical Efficacy Outcomes in 3L+ Regorafenib¹ or Trifluridine/Tipiracil2.3: KRAS-agnostic - KRAS-mutant ORR: 1-2% mPFS: 1.9-2.0 months MOS: 6.4-8.0 months Trifluridine/Tipiracil³: KRAS-mut mOS: 6.5 months Adagrasib Monotherapy (KRYSTAL-1 study)4 Efficacy Profile Summary (n=43) • Confirmed ORR was 19% (8/43); DCR was 86% (37/43)5 Tumor shrinkage of any magnitude occurred in 79% of patients Median DOR was 4.3 months Safety Profile Summary (n=44) • No Grade 5 TRAES • No TRAES led to discontinuation Patient outcomes in CRC have historically been poor and progressively worse in later lines of therapy • KRAS-mutant CRC patients tend to have worse outcomes than the broader CRC patient population Adagrasib + Cetuximab (KRYSTAL-1 study) 4 Efficacy Profile Summary (n=28) Confirmed ORR was 46% (13/28); DCR was 100% (28/28)6 Tumor shrinkage of any magnitude occurred in 93% of patients • Median DOR was 7.6 months Safety Profile Summary (n=32) • No Grade 5 TRAES No TRAES led to discontinuation of adagrasib 16% of TRAEs led to discontinuation of cetuximab 34 Sources: Mirati corporate presentation, September 2022; ESMO 2022. Notes: (1) Obermannová R, et al. Ann Oncol. 2016;27(11):2082-2090; (2) Grothey A, et al. Lancet. 2013;381(9863):303-312; (3) Mayer RJ, et al. N Engl J Med. 2015;372(20):1909-1919.; Van Cutsem E, et al. Eur J Cancer. 2018;90:63-72; (4) Presented at the European Society for Medical Oncology (ESMO) Congress, September 2022, data as of June 16, 2022; (5) Response outcome per investigator assessment with a median follow-up of 20.1 months; (6) Response outcome per investigator assessment with a median follow-up of 17.5 months. Clinical Data - Oncology#35Bemarituzumab First-in-Class Antibody Targeting FGFR2b+ in Advanced Gastric/GEJ Cancer Phase 2 FIGHT of Bemarituzumab + Chemotherapy as 1L Treatment for FGFR2b+ Gastric Cancer (ITT Patients*, n=155) Progression Free Survival Overall Survival Probability of Progression-Free Survival 1.00 0.75 0.50 0.25 Late-stage Bema n=77 MOS, 0.75- 166.2% 19.2 months (13.6-NR) | (9.3-15.9) (95% CI) Placebo n=78 13.5 9-mon rate Bema n=77 Placebo 1.00- n=78 mPFS, 9.5 7.4 months (95% CI) (7.3-12.9) (5.4-8.5) P=0.0727 52.5% Hazard ratio for disease progression or death, 0.68 (95% CI, 0.44-1.04) Probability of Survival 0.50- 33.8 0.00 0 3 6 9 12 15 18 Months Number at risk BEMA 77 62 40 28 PLACEBO 78 59 37. 19 12 9 5 13 1 0 0.25- 156.4% Hazard ratio for death, 0.6 (95% CI, 0.38-0.94) 0.00 0 3 6 69 12 15 5 18 21 24 27 Months BEMA 77 Number at risk 68 63 51 PLACEBO 78 68 58 44 36 25 13 49 45 39 28 14 4 0 5 2 0 In the ITT patients of FGFR2b+, bemarituzumab + mFOLFOX6 vs mFOLFOX6 numerically improved mPFS to 9.5m vs. 7.4m (HR 0.68, 95%CI, 0.44-1.04) and improved mOS to 19.2m vs. 13.5m (HR=0.60, 95%CI, 0.38-0.94) Bemarituzumab demonstrated a tolerable safety profile with manageable ocular adverse events Intent to Treat (ITT), Median follow-up time of 12.5 months. 35 Source: Wainberg ZA, et al. Lancet Oncol. 2022;23(11):1430-1440. Clinical Data - Oncology#3636 Probability of Progression-Free Survival Bemarituzumab BTD Granted (+ mFOLFOX) in FGFR2b≥10% Gastric Cancer by FDA and NMPA In Patients with FGFR2b+≥10% (IHC 2+/3+ ≥10% Patients*, n=96), Bemarituzumab + mFOLFOX6 Demonstrated Even Greater Benefit in mPFS 14.1m vs 7.3m and mOS 25.4m vs 11.1m Progression Free Survival 1.00- 0.75- 0.50- 0.25- 0.00- BEMA PLACEBO Bema n=44 Placebo n=52 1.00 mPFS, months 14.1 7.3 (6.8-NR) (5.4-8.2) 57.0% (95% CI) Hazard ratio for Probability of Survival disease progression or 26.4% death, 0.44 (95% CI, 0.25-0.77) 0.25- Overall Survival Late-stage Bema n=44 Placebo n=52 MOS, 25.4 11.1 0.75- 170.8% months (13.8-NR) (8.4-13.9) (95% CI) 48.9% 0.50- Hazard ratio for death, 0.41 (95% CI, 0.23-0.74) 0 T 3 Number at risk 9. 12 15 18 Months 44 35 52 36 22 23 16 21 10 7 4 10 5 1 10 Current Status Zai Lab continues to enroll patients into global Ph3 FORTITUDE-101 and FORTITUDE-102 studies 0.00- T 0 3 6 9 12 15 18 21 24 27 Months Number at risk BEMA PLACEBO 44 40 52 33. 36 31 27 43 37 26 19 38 295 222 32 14 0 0 24 19 10 12 7 Core Opportunity ~30% (~126K annual incidence) of 1L HER2- gastric cancer patients are FGFR2b-positive and ~18% (~76K annual incidence) have FGFR2b expression over 10% * Median follow-up time of 12.5 months. Abbreviation: Immunohistochemistry (IHC). Source: Wainberg ZA, et al. Lancet Oncol. 2022;23(11):1430-1440; Five Prime Therapeutics presentation on FIGHT trial, November 2020; Clinical Data - Oncology#37Efgartigimod Phase 3 ADAPT Data Showed Fast, Deep, and Durable Responses for Patients with gMG Approved 37 Minimal Symptom Expression (AChR Ab+ patients, first cycle) 80% 70% 40% of Efgartigimod Patients Achieved 60% Minimal Symptom Expression 1 50% 40.0% 40% Durable Clinical Benefit Duration of Response (AChR Ab+ Efgartigimod responders², first cycle) Potential for Individualized Dosing Max Response: 25 Weeks 12 Weeks or More 34.1% 8 Weeks or More 30% P < 0.0001 6 Weeks or More 20% 11.1% 10% 4 Weeks or More N=25/65 N=7/63 0% Efgartigimod Placebo 56.8% 0% 50% 88.6% Efgartigimod Demonstrated Significant Magnitude of Benefit AChR Ab+ Patients, Cycle 1 18765432 MG - ADL 14.3% 0.0% 20.6% 1.7% 27.0% 3.3% 39.7% 8.3% 55.6% 11.7% 63.5% 23.3% 73.0% 36.7% 77.8% 48.3% QMG 10 09876543 25.8% 0.0% 33.9% 0.0% 37.1% 1.7% 45.2% 1.7% 50.0% 5.2% 59.7% 12.1% 64.5% 15.5% 74.2% 25.9% 100% Efgartigimod Placebo 100.0% NMPA approved the BLA for gMG (IV) in China in June 2023; Potential NMPA approval for gMG (SC) in 2024 Source: argenx corporate presentation, January 2021. Notes: (1) Minimal Symptom Expression: MG-ADL = 0 (no symptoms) or 1; (2) Responder defined as at least 4 consecutive weeks. Clinical Data - Autoimmune#38Efgartigimod Phase 3 ADAPT+ Study Showed Consistent and Repeatable Improvement in Both MG-ADL and QMG Scores Over Multiple Cycles Mean change (±SE) in MG-ADL total score 2 C + 6 -8 -10 CMI MG-ADL Total Score Mean Change from Cycle Baseline by Cycle 1 Week 3 of Cycle 1: Mean change [SE]: -5.0 [0.33] Week 012 3 7 Efg Dosing ADAPT+ n Cycle 1 111 2 101 3 91 456981 82 74 73 7 59 55 47 10 40 11 11 Mean change (±SE) in MG-ADL total score 2 6 QMG Total Score Mean Change from Cycle Baseline by Cycle 2 Week 3 of Cycle 1: Mean change [SE]: -4.7 [0.41] -8 11 Week 012 Efg Dosing 3 38 Abbreviations: clinical meaningful improvement (CMI), treatment (TX). Note: (1) Only cycles with data out to week 11 are depicted; (2) QMG was not a required assessment in part B of ADAPT+; therefore, there are fewer data for cycle compared to MG-ADL. 7 ADAPT+ Cycle n 1 111 2 3 87 4567 56 49 32 RESYOO: 99 70 Approved 11 Clinical Data - Autoimmune#39Efgartigimod No Clinically Meaningful Reductions in Albumin and No Increases in LDL Cholesterol 60 50 40 30 20 LLN1 ADAPT Study ADAPT+ Study Total Albumin ULN1 60 Total albumin, Mean (SD). g/L 65432 40 Total Albumin 50 30 20 10 10 0 0 Week 012 3 4 5 6 7 8 9 10 11 12 Week 012 3 5 5 LDL Cholesterol Total albumin, Mean (SD). g/L Total cholesterol, Mean (SD). mmol/L + 3 2 0 Week 0 1 2 3 High: >4.10 mmol/L2 Optimal: <2.60 mmol/L2 456789 ⚫EFG -PBO Total cholesterol, Mean (SD). mmol/L + 3 2 7 Approved ULN1 LLN1 LDL Cholesterol High: >4.10 mmol/L2 11 Optimal: <2.60 mmol/L² 0 10 11 12 Week 0 1 2 3 7 39 Abbreviations: acetylcholine receptor autoantibody (AChR-Ab), low-density lipoprotein (LDL), lower limit of normal (LLN), upper limit of normal (ULN). Note: (1) Reference values are based on Kratz A, N Engl J Med, 2004; 351(15): 1548-1563; (2) Reference values are based on https://www.mayoclinic.org/tests-procedures/cholesterol-test/about/pac-20384601. 3 4 5 11 Clinical Data - Autoimmune#40Efgartigimod (SC) Opportunity to Transform CIDP Patient Experience (ADHERE Study) ESTABLISHED CIDP AS IgG MEDIATED Stage A 67% Stage B Response rate demonstrates IgG autoantibodies play significant role in underlying CIDP biology SET NEW STANDARD FOR 61% HOW CIDP TRIALS ARE RUN Reduced risk of relapse Probability (%) of no relapse (alNCAT) 100- HR: 0.39 P = 0.000039 75 50 25 0. 0 4 8 12 16 20 24 28 32 36 40 Time (Weeks) 44 48 # patients at risk Placebo. Vyvgart Hytrulo 111 107 93 110 94 80 68 67 55 51 47 38 31 56 55 48 42 40 36 36 28 28 26 24 21 16 + SIGNIFICANT IMPACT ON CIDP PATIENTS 99% Study Compliance 99% Rollover of eligible patients to open-label extension Favorable safety and tolerability profile consistent with previous clinical trials Late-stage U.S. SBLA accepted with PDUFA goal date of Jun 21, 2024; Potential China sBLA submission in 1H'24 Clinical Data Autoimmune 40 Source: argenx corporate presentations, January 2024.#41POC stage ZL-1102 (IL-17 HumabodyⓇ) Expected to Move into Full Global Development ZL-1102 HumabodyⓇ 13.2 kDa High-Affinity Human VH Fragment Targeting IL-17A First-ever study to demonstrate penetration of protein biologic through psoriatic skin resulting in clinical response IgG Antibody 150 kDa Significant Global Opportunity 2 Psoriasis affects 125 million 3 people worldwide 80-90% 3,4 suffer from plaque psoriasis; 70-80% 5 of these cases are mild-to- moderate ⚫ Most systemic agents including recent orals and injectables are prescribed for moderate-to-severe psoriasis only - ZL-1102 BID (N-26) +- Vehicle BID (N=25) 45% relative -10- improvement -20- -30- -40- Baseline D8 D15 D22 D29 D43 visit Consistent improvement in responder rates¹ over time 35% 31% 30% 27% 25% 23% 19% 20% 20% 16% 15% 10% 8% 4% 12% 4% 5% 0% Week 1 (Day 8) Week 2 Week 3 Week 4 (Day 15) (Day 22) (Day 29) Week 6 (Day 43) ■ZL-1102 BID Vehicle BID Local PASI score: 45% relative improvement at Day 29 Safety/tolerability profile indistinguishable from placebo Transcriptome analysis shows clear differential effect with topical ZL-1102 • Downregulated genes enriched in immune response pathway • Decrease in K16 marker expression² Zai Lab to initiate the global Phase 2 study for dose selection and safety / efficacy with prolonged treatment in mid-24 41 Abbreviation: Psoriasis Area Severity Index (PASI). Notes: Humabody is a registered trademark of Crescendo Biologics. (1) Responder rate: % patients who achieved a ≥50% reduction in local PASI score of target lesion; (2) K16 marker indicative of downregulated cell proliferation; (3) National Psoriasis Foundation. The impact of psoriasis. https://www.psoriasis.org/psoriasis-statistics/; (4) Menter A. J Am Acad Dermatol. 2008; 58:826-50.; (5) K Papp.. Dermatol Ther 11: 1053; 2021. Clinical Data - Autoimmune#42Promising Near-Term, Innovative Treatment Options for Infectious Disease Franchise NUZYRAⓇ (amadacycline) NUZYRA Oral and IV Broad Spectrum Antibiotic Unmet Medical Needs in China Significant addressable markets: 10 million 1 CABP and 2.8 million 1 ABSSSI incidence every year Unmet needs for broad-spectrum antibiotics addressing MDR with favorable safety profile Differentiation Broad-spectrum IV/PO new-generation tetracycline, reducing exposure to hospital pathogens and associated costs with hospital stays Clear differentiation vs. older generics and other drugs from the tetracycline class Classified as Category 1 innovative drug in China Dec 2021 China Commercial Launch² Sulbactam-Durlobactam Best-in-Class Class A, C & D ẞ Lactamase Coverage Unmet Medical Needs in China • - China: 300,000 Acinetobacter infections reported in mainland China in 20223 Increasing Burden, Limited Treatment, High Mortality Unique activity against Acinetobacter and CRAB High carbapenem-resistant rate: >53% (CARSS) and ~80% (CHINET); antibiotic resistance is increasing 3,4 Most common pathogen causing HABP/VABP in China5 ⚫ Limited therapeutic options Polymyxin-based polypharmacy Colistin: drug of last resort Mortality -43% with best available therapy6 Feb 2023 China NDA Acceptance Abbreviations: hospital-acquired bacterial pneumonia (HABP), ventilator-associated bacterial pneumonia (VABP). Sources: Entasis Therapeutics corporate presentation, 2021; U.S. Centers for Disease Control and Prevention. Zai Lab analysis. Notes: (1) 2020 estimates, Zai Lab analysis; (2) Signed contract sales agreement with Huizheng (Shanghai) Pharmaceutical Technology Co., Ltd., a direct wholly-owned subsidiary of Hanhui Pharmaceutical Co., Ltd; (3) 2022 Report of China Antimicrobial Resistance Surveillance System (CARSS) published in November 2023; (4) 2023 Report of China Antimicrobial Surveillance Network (CHINET); (5) China Diagnosis and Treatment Guideline for hospital-acquired pneumonia and ventilator-associated pneumonia, 2018; (6) Mohd Sazlly Lim S, et al. The global prevalence of multidrug-resistance among Acinetobacter baumannii causing hospital-acquired and ventilator-associated pneumonia and its associated mortality: A 42 systematic review and meta-analysis. J Infect. 2019 Dec;79(6):593-600. Clinical Data - Anti-infective#4343 • . NUZYRA FDA-and China NMPA-approved, Once-Daily Oral and IV Broad Spectrum Antibiotic Addressing Antibiotic Resistance Clinical Per-protocol Population Investigator-assessed Clinical Response at Post Therapy Evaluation¹ Clinical Per-protocol Population Investigator-assessed Clinical Response at Post Therapy Evaluation² Approved NDC 71715-001-01 NUZYRA (omadacycline) for in 100 mg/vial single-dose vial For intravenous infusion Dambuted by on MA-0056 CABP NUZYRAⓇ (omadacycline) 150 OMC New differentiated tetracycline antibiotic Clinical success in CABP (left) and ABSSSI (right) Category 1 Innovative Drug in China % of Population ABSSSI 93% 90% 96% 94% 100 100 80 60 40 20 0 NUZYRA (n=316/340) MOXIFLOXACIN (n=312/345) Difference 95% CI, 2.5 (-1.7, 6.8) % of Population NA g ∞ 20 80 60 40 0 NUZYRA (n=259/269) LINEZOLID (n=243/260) Difference 95% CI, 2.8 (-1.0, 6.9) Commercial launch in December 2021; Successful NRDL inclusion for both IV and oral formulations on Jan 1st, 2024 Sources: Paratek corporate presentation, February 2021; NUZYRA Prescribing Information, Paratek Pharmaceuticals, Inc; Stets R, Popescu M, Gonong JR, et al. Omadacycline for community-acquired bacterial pneumonia. N Engl J Med 2019;380:517-27; O'Riordan W, Green S, Overcash JS, et al. Omadacycline for acute bacterial skin and skin-structure infections. N Engl J Med 2019;380:528-38. Notes: (1) 5-10 days after last dose; (2) 7-14 days after last dose. Clinical Data - Anti-infective#44. SUL-DUR A Novel Therapeutic Option with Statistically Higher Clinical Cure Rate and Favorable Safety Profile Current Treatment Options Have Poor Efficacy and Tolerability Emergence of pan-drug-resistant Acinetobacter • Combination antibiotic therapy not proven effective • Colistin or tigecycline most commonly used for Acinetobacter baumannii-calcoaceticus complex (ABC) in China VS. Tigecycline Colistin Clinical Efficacy Poor efficacy in pneumonia¹ Poor efficacy in pneumonia, black box warning² • Safety/ Tolerability Nephrotoxicity Gl intolerance XACDURO® (sulbactam for injection; durlobactam for injection), co-packaged for intravenous use Approved (U.S.) First FDA approved pathogen-targeted therapy to treat hospital- acquired and ventilator- associated pneumonias caused by Acinetobacter Phase 3 ATTACK study (vs. Colistin) Met primary endpoint for 28-day all-cause mortality • 19.0% (SUL-DUR) vs. 32.3% (Colistin), with treatment difference of -13.2%3 Significant difference in clinical cure rates; clinical and microbiological responses consistently showed benefit • Favorable safety profile. Potential NMPA approval for the treatment of infections caused by ABC in 2024 Source: Entasis press release, May 2023. Notes: The trademarks and registered trademarks within are the property of their respective owners. (1) Mortality associated with colistin-based therapy is -40% (95% CI: 32% to 47%); (2) Warning in US Product Label-lower cure rates and higher mortality in ventilator-associated pneumonia; (3) Kaye KS, et al. Efficacy and safety of sulbactam-durlobactam versus colistin for the treatment of patients with serious infections caused by Acinetobacter baumannii-calcoaceticus complex: a multicentre, 44 randomised, active-controlled, phase 3, non-inferiority clinical trial (ATTACK). Lancet Infect Dis. 2023 May 11:S1473-3099(23)00184-6. Clinical Data - Anti-infective#45KarXT - Anchor Asset to Expand into Neuroscience Late-stage Recognized Need for More Effective Treatment for Patients with Schizophrenia >8 million 1 people in China living with schizophrenia Half of the patients are not seeking professional care² Profound burden of disease despite available therapies • • Lack of novel MOA Poor negative symptom control Often unacceptable side effects, including weight gain, somnolence, tardive dyskinesia, extrapyramidal syndrome (EPS), neuroleptic malignant syndrome Potential to Change the Standard of Care in Schizophrenia ✓ Novel MOA ✓ Early and sustained reduction of positive and negative symptoms of schizophrenia Generally well-tolerated, with manageable safety and tolerability profile ✓ Not associated with common AEs of current antipsychotic medications ✓ Considered use as mono- and combination therapies Innovative Treatment Option to Address Significant Unmet Medical Needs in China to Treat Patients with Serious Psychiatric Conditions 45 Sources: Karuna corporate presentation, May 2023. Zai Lab analysis. Note: (1) China has estimated more than 8 million schizophrenia patients (prevalence rate is 0.6% -0.655%). Prevalence of mental disorders in China: a cross-sectional epidemiological study. The Lancet Psychiatry, 2019; (2) According to the data from the Ministry of Civil Affairs of the PRC, there are 6.2 million registered mental disorder cases in the national severe mental illness management system in 2020. An expert from Guangdong Provincial Mental Health Center estimated that -70% of registered mental disorder cases are schizophrenia patients in 2020. Clinical Data - Neuroscience#46Late-stage KarXT Robust Antipsychotic Effect Across Three Registrational Trials in Schizophrenia Primary Endpoint: Change in Baseline PANSS Total Score vs. Placebo at Week 51 EMERGENT-1 KarXT (n = 83), placebo (n = 87) EMERGENT-2 KarXT (n = 117), placebo (n = 119) Placebo KarXT EMERGENT-3 KarXT (n = 114), placebo (n = 120) **** * p<0.05 p<0.01 p<0.0001 PANSS total change from baseline 20 -20 O-15 เก Baseline Week 2 Week 4 Week 5 11.6-point reduction at Week 5 (-17.4 KarXT vs. -5.9 placebo) Cohen's d effect size = 0.75 ° un -10 PANSS total change from baseline -15 -20 -25 Baseline HHHH HH Η Week 2 Week 3 Week 4 Week 5 9.6-point reduction at Week 5 (-21.2 KarXT vs. -11.6 placebo) Cohen's d effect size = 0.61 PANSS total change from baseline C 20 -15 +0 in 0 Baseline HHHH HH Week 2 Week 3 Week 4 Week 5 8.4-point reduction at Week 5 (-20.6 KarXT vs. -12.2 placebo) Cohen's d effect size = 0.60 Cohen's d effect size compares favorably with other trials of antipsychotics (0.35 – 0.58) 2 46 Source: (1) Karuna corporate presentation, May 2023; (2) Leucht S, Cipriani A, Spineli L, et al. Comparative efficacy and tolerability of 15 antipsychotic drugs in schizophrenia: a multiple-treatments meta-analysis. Lancet. 2013;382(9896):951-962.. Clinical Data - Neuroscience#4747 KarXT Improvement In Positive And Negative Symptoms Of Schizophrenia Substantially Consistent Safety/Tolerability Profile Across Trials Clinically Meaningful Reductions on Key Secondary Endpoints Locations PANSS Positive Subscore (Week 5) PANSS Negative Subscore (Week 5) KarXT Placebo Pbo.Adj KarXT Placebo Delta 3.2 EMERGENT-1 US -5.6 -2.4 -3.2 -0.9 p<0.0001 2.3 p<0.001 2.9 EMERGENT-2 US -6.8 -3.9 -3.4 -1.6 p<0.0001 1.8 p<0.01 3.5 EMERGENT-3 US + Ukraine -7.1 -3.6 -2.7 -1.8 p<0.0001 0.8 p=0.12 KarXT generally well-tolerated across EMERGENT-1, 2 and 3 TEAES (≥5%) mild to moderate in severity, mostly cholinergic and resolving over time with repeated dosing Not associated with common AES of atypical antipsychotics (weight gain, EPS, somnolence) Zai to complete enrollment of the bridging study for schizophrenia in China in 4Q'24; U.S. NDA accepted with PDUFA goal date of September 26, 2024 Abbreviation: extrapyramidal symptoms (EPS). Source: Karuna corporate presentaiton, May 2023. Late-stage Clinical Data - Neuroscience#48Our ESG Trust for Life Strategy, Commitments, and Targets Target: Reach One Million Patients by 2030¹ 3 GOOD HEALTH Improve Human Health AND WELL-BEING Our patient-first core value drives us to impact human health Trust for Life 9 INDUSTRY, INNOVATION 5 GENDER EQUALITY 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 13 CLIMATE ACTION Q Our ESG approach, commitment to DEI, and growing pipeline help us create better outcomes for everyone Target: Maintain gender equity in leadership and base pay Create Better Outcomes 48 Note: (1) Target for "Improve Human Health". Act Right Now We build trust by acting urgently and ethically. Target: Complete ERM top-tier risk mitigation plans annually zai-ǝb#49zailǝb