Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited have declared no responsibility for the contents of a recent announcement published by Duality Biotherapeutics, Inc. (映恩生物). According to the announcement, the board of directors of Duality Biotherapeutics, Inc. resolved on October 17, 2025, to propose an issuance of ordinary shares in Renminbi (RMB) on the Science and Technology Innovation Board of the Shanghai Stock Exchange (the 「Proposed Issue of RMB Shares」).

The Proposed Issue of RMB Shares is subject to market conditions, confirmation of the board’s final decision, shareholder approval at a general meeting, and all necessary regulatory authorizations. The announcement states that the proposal remains preliminary, and the board has not yet filed any application with relevant authorities. There is no assurance of when or whether the plan will proceed.

Duality Biotherapeutics, Inc. advises that shareholders and potential investors exercise caution when dealing in the company’s shares. The announcement further explains that any significant progress or material developments concerning the Proposed Issue of RMB Shares will be disclosed in subsequent filings or announcements as required by applicable regulations.