Zai Lab Limited (HKEX: 09688; NASDAQ: ZLAB) has approved new equity awards aimed at retaining and incentivising key personnel.

• Share options – Grantee: 1 employee (senior manager) – ADSs granted: 136,819, representing 1.37 million ordinary shares – Exercise price: US$20.32 per ADS (≈ HK$15.85 per share), a 3.7% premium to the US$19.59 NASDAQ close on 11 May 2026 – Term & vesting: 10-year life; 25% vests on each anniversary of the grant date over four years, contingent on continued employment – No performance targets or claw-back provisions

• Restricted Share Units (RSUs) – Grantees: 4 employees (including one senior manager) – RSUs granted: 75,288 ADSs, equal to 0.75 million ordinary shares – Purchase price: nil – Vesting schedule: identical four-year, annual 25% vesting; subject to continued employment – No performance targets or claw-back provisions

Following these awards, 58.72 million shares remain available for future grants under Zai Lab’s 2024 Equity Incentive Plan, which was approved on 18 June 2024. The company confirmed that none of the grantees are directors, chief executives or substantial shareholders, and that individual grant limits under Hong Kong Listing Rules have not been exceeded.