Alphamab Oncology — Share Issue/Capital Change 2022

May 20, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited 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 AWARD SHARES UNDER THE RESTRICTED SHARE AWARD SCHEME

Reference is made to the announcement of Alphamab Oncology (the “ Company ”, together with its subsidiaries, the “ Group ”) dated March 23, 2021 (the “ Announcement ”) in relation to the adoption of the restricted share award scheme (the “ Restricted Share Award Scheme ”). Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as defined in the Announcement.

GRANT OF AWARD SHARES

The Board hereby announces that on May 20, 2022, the Company granted a total of 610,000 Shares (the “ Award Shares ”) to 9 Selected Participants (the “ Grantees ”) pursuant to the Restricted Share Award Scheme, subject to obtaining listing approval for the Award Shares. The Grantees are all employees of the Company and none of them is a connected person (as defined under the Listing Rules) of the Company.

VESTING SCHEDULE

Subject to all vesting conditions having been satisfied in accordance with the rules governing the Restricted Share Award Scheme, the Award Shares shall vest in the following manner:

• (a) as to 20% of the Award Shares on April 25, 2023;

• (b) as to 20% of the Award Shares on April 25, 2024;

• (c) as to 20% of the Award Shares on April 25, 2025; and

• (d) as to 40% of the Award Shares on April 25, 2026.

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ISSUE OF NEW SHARES UNDER THE GENERAL MANDATE

The Award Shares (which represent approximately 0.06503% of the issued share capital of the Company as of the date of this announcement and approximately 0.06499% of the enlarged issued share capital after the allotment) granted will be satisfied by allotment and issue of new Shares at par value of US$0.000002 each under the general mandate granted by the Company’s shareholders to the Directors at the annual general meeting of the Company held on June 11, 2021.

The allotment and issue of the Award Shares shall be subject to the Stock Exchange having granted the approval for the listing of, and permission to deal in such Shares. Application will be made by the Company to the Stock Exchange for the grant of approval for the listing of, and permission to deal in, the Award Shares.

The Award Shares will be issued and allotted to Alphamab OEH LTD (the “ RSU Nominee ”), a company incorporated in the British Virgin Islands and held by the Trustee, TMF Trust (HK) Limited, upon the terms of the trust in relation to the Restricted Share Award Scheme and will be indirectly held by the Trustee on trust for the benefit of the beneficiaries of the Trust.

The Restricted Share Award Scheme is not a share option scheme for the purpose of Chapter 17 of the Listing Rules. Details of the Restricted Share Award Scheme are set out in the Announcement.

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

Hong Kong, May 20, 2022

As at 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. Guo Zijian, Mr. WEI Kevin Cheng and Mr. WU Dong as Independent Non-executive Directors.

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