Duality Biotherapeutics Inc. (DualityBio) has called an extraordinary general meeting for 29 April 2026 to seek approval for a domestic initial public offering of up to 15.78 million RMB-denominated ordinary shares on the Shanghai Stock Exchange’s Sci-Tech Board (STAR Market).

The proposed issuance represents no more than 15% of the enlarged share capital before any over-allotment. An additional 2.37 million shares (15% of the base deal) may be issued under an over-allotment option.

Estimated gross proceeds will not exceed RMB 6.75 billion. After deducting issuance expenses, the Company plans to allocate: • approximately 85% to R&D projects—of which 80% will fund global Phase 3/registrational trials for DB-1311/BNT324 and DB-1310, and 20% will support earlier-stage assets including DB-1317, DB-1324, DIBAC and DUPAC platform programmes; • approximately 15% to working-capital replenishment.

Board proposals also include: • a three-year share-price stabilisation plan and dividend return policy; • remedial measures to mitigate immediate EPS dilution; • amendments to the Articles of Association and adoption of updated procedural rules for shareholders’ and board meetings; • authorisation for the Board to handle all matters related to the STAR Market listing within 12 months of shareholder approval.

Post-offering, Hong Kong public float is expected to remain above 25%. All RMB shares will be settled through China Securities Depository and Clearing Corporation; they will not be fungible with Hong Kong-listed shares.

CITIC Securities is engaged as sponsor and lead underwriter. The listing remains subject to shareholder approval, Shanghai Stock Exchange clearance and CSRC registration.