WuXi Vaccines (Cayman), Inc.

WuXi Biologics (Cayman) Inc. (SEHK:2269) entered into the Equity Transfer Agreement to acquire remaining 30% stake in WuXi Vaccines (Cayman) Inc. from Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) for approximately $110 million on August 29, 2024. The transaction is subject to the the parties having obtained necessary authorizations and approvals in relation to the Acquisition (including, but not limited to, if applicable, the approvals from the board of directors and shareholders as well as the relevant stock exchanges) and such authorizations and approvals remaining valid, Equity Transfer Agreement and any documents relating to the Acquisition having been duly executed and become effective, there being no material breach of any of the representations, warranties and undertakings by the parties under the Equity Transfer Agreement. As of June 30, 2024, WuXi Vaccines (Cayman) Inc. reported total common equity of $284.27 million. The transaction is expected to complete in 10 days. WuXi Biologics (Cayman) Inc. (SEHK:2269) completed the acquisition of remaining 30% stake in WuXi Vaccines (Cayman) Inc. from Shanghai Hile Bio-Technology Co., Ltd. (SHSE:603718) on October 23, 2024. As of August 29, 2024, the sale transaction has been reviewed and approved by the board of directors of the Buyer and Seller. All other necessary decision-making and approval procedures for the transaction has also been completed.

Revenue increased by 1.0% YoY to RMB 8,574.2 million Non-COVID revenue grew by 7.7% YoY, with non-COVID late-phase & commercial manufacturing YoY growth of 11.7% Added 61 new integrated projects, including 4 from late-phase and commercial stage Client’s molecule recently acquired by MNC, highlighting a potential best-in-class CD3 asset utilizing three of our proprietary technology platforms Total integrated projects of 742, one of the largest portfolios of complex biologics Successful EMA inspections of 13 products and FDA inspections of 2 products in 1H24 Hong Kong, August 21, 2024 – WuXi Biologics (Cayman) Inc. (“WuXi Biologics” or “the Group”, stock code: 2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO) service company offering end-to-end solutions for biologics discovery, development and manufacturing, is pleased to announce its unaudited interim results for the first half of 2024 (“Reporting Period”). Financial Highlights Business Highlights Management Comment Dr. Chris Chen, CEO of WuXi Biologics, stated, “Amid a dynamic macroeconomic and geopolitical environment, our business has demonstrated strong resilience. This is attributed to our unique CRDMO business model which we believe is the most efficient for our industry, as well as the successful implementation of our ‘Follow and Win the Molecule’ strategies. In the first half of 2024, we added 61 new integrated projects, including 4 from late-phase and commercial stages. This is a strong testament to our clients’ endorsement of our exceptional execution and our technological leadership. Our client Curon’s molecule was recently acquired by Merck & Co., Inc., highlighting a potential best-in-class CD3 asset (CN201), which was discovered, developed, and manufactured using 3 of our proprietary technology platforms, WuXiBodyTM, TCE platform and WuXiUPTM.” Dr. Chris Chen added, “Our business fundamentals remain strong. The Company’s unified and consistent quality systems, proprietary technology platforms, global talent pool – led by a seasoned management team and includes a strong technical team with over 4,200 scientists – and exceptional execution distinguish WuXi Biologics in our industry. We remain firmly committed to serving our global clients in the healthcare community and benefiting patients worldwide.” Dr. Ge Li, Chairman of WuXi Biologics, concluded, “WuXi Biologics delivered solid business performance in the first half of 2024 despite an uncertain external environment and challenging comparisons year over year. Looking ahead, we will continue to adhere to our end-to-end CRDMO business model, expand our global presence and further improve our execution. We will continue to enhance our R&D and manufacturing efficiencies, deliver superior value to our partners, and benefit patients worldwide as an end-to-end, one-stop service provider for the biopharmaceutical industry. We remain dedicated to delivering groundbreaking therapies to patients and fulfilling our vision that ‘every drug can be made and every disease can be treated’.” Key Financial Ratios (For the Six Months Ended June 30)