Shanghai-headquartered JW (Cayman) Therapeutics Co. Ltd (“JW Therapeutics”) has awarded 2.00 million share options to Executive Director and Chief Executive Officer Feng Tian, according to a board announcement dated 19 May 2026.

The options were granted under the company’s Post-IPO Incentivization Scheme adopted on 14 October 2020. Each option entitles the grantee to subscribe for one ordinary share at HK$2.32, representing the higher of (i) the 5-day average closing price (HK$2.32), (ii) the 19 May closing price (HK$2.10) and (iii) the nominal value of US$0.00001 per share.

Key Terms • Exercise period: 19 May 2026 – 18 May 2036 • Vesting structure: Five performance-linked tranches—500,000; 500,000; 500,000; 250,000; and 250,000 options—each commencing vesting six months after the respective performance target is met, with a latest target-achievement deadline of 18 November 2035. • Performance condition: Options lapse if associated operational milestones are not achieved. • Clawback: Options automatically lapse upon serious misconduct, bankruptcy, joining a competitor, insolvency, or other board-specified events.

Remuneration Committee View The committee endorsed vesting periods of less than 12 months because commencement dates are tied to performance milestones. The structure is deemed consistent with industry practice and the scheme’s incentive objectives.

Regulatory Compliance The grant does not breach the 1% individual limit under Listing Rule 17.03D or the 0.1% rolling 12-month share issuance cap under Rule 17.04(2). Board approval was obtained with Feng Tian abstaining. No shareholder vote or financial assistance was required.

Scheme Capacity As of the announcement date, 14.40 million shares remain available for future option grants and 3.85 million shares for restricted share units under existing mandates.