Alphamab Oncology — Capital/Financing Update 2021

Apr 23, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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ALPHAMAB ONCOLOGY 康寧傑瑞生物製藥

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9966)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

The board (the “ Board ”) of directors (the “ Directors ”) of Alphamab Oncology (the “ Company ”) hereby announces that on April 23, 2021, the Company has resolved to grant share options (the “ Options ”) to eligible participants (the “ Grantees ”), who are employees of the Company and its subsidiaries, to subscribe for up to an aggregate of 9,005,000 ordinary shares of the Company of US$0.000002 each (the “ Shares ”) in the capital of the Company pursuant to the share option scheme adopted by the Company on May 25, 2020, subject to the acceptance of the Grantees.

Details of the Options are as follows:

Date of Grant: April 23, 2021 (the “ Date of Grant ”)

Exercise price of the Options granted:

HK$13.00 per Share, representing the highest of (i) the closing price of HK$13.00 per Share as stated in the daily quotations sheet issued by the Stock Exchange on the Date of Grant; (ii) the average closing price of HK$10.63 per Share as stated in the daily quotations sheets issued by the Stock Exchange for the five business days immediately preceding the Date of Grant; and (iii) the nominal value of a Share of US$0.000002

Number of Options 9,005,000 Options (each Option shall entitle the holder of the Option to granted: subscribe for one Share)

Validity period of Ten (10) years from the Date of Grant the Options:

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Vesting period of 1,451,000 Options shall be vested on April 23, 2022; the Options: 1,451,000 Options shall be vested on April 23, 2023; 1,451,000 Options shall be vested on April 23, 2024; 1,852,000 Options shall be vested on April 23, 2025; 1,400,000 Options shall be vested on April 23, 2026; and

1,400,000 Options shall be vested on April 23, 2027.

Among the total of 9,005,000 Options granted, 120,000 Options were granted to two Directors, the details of which are as follows:

Name of DirectorPositions held with the CompanyMr. WU DongIndependent non-executive DirectorMr. WEI Kevin ChengIndependent non-executive DirectorTotal	Numberof Optionsgranted60,00060,000120,000

Pursuant to Rule 17.04(1) of the Listing Rules, the grant of the Options to the above Directors had been approved by the independent non-executive Directors of the Company, save that each of the Directors who is also a Grantee had abstained from approving the resolutions relating to the grant of Options to him.

Save as disclosed above, none of the Grantees is a Director, chief executive or substantial shareholder of the Company, nor an associate (as defined under the Listing Rules) of any of them.

By Order of the Board Alphamab Oncology Dr. XU Ting Chairman and Executive Director

Hong Kong, April 23, 2021

As of the date of this announcement, the Board comprises Dr. XU Ting as the Chairman and Executive Director and Ms. LIU Yang as Executive Director, Mr. XU Zhan Kevin and Mr. QIU Yu Min as Non-executive Directors, and Dr. JIANG Hualiang, Mr. WEI Kevin Cheng and Mr. WU Dong as Independent Non-executive Directors.

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