Jiangsu Alphamab Biopharmaceuticals Co. Ltd. and Suzhou Alphamab Co. Ltd. announced renewal of the Lease Agreement.

Details of the Renewed Lease Agreement are as follows: Date of Agreement: March 28, 2024; Parties: Jiangsu Alphamab (as lessee) and Suzhou Alphamab (as lessor); The premises with a total gross area of approximately 2,235 sq.m. located at 4th floor and 5th floor of Building C23, SIP BioBay, No. 218 Xinghu Street, Suzhou, Jiangsu Province, China (the Leased Premises), which is rented from an independent third party, Suzhou Industrial Park bioBAY Assets Operation Management Co. Ltd. (bioBAY) (previously known as Suzhou Industrial Park Biotech Development Co., Ltd).

The term shall commence on April 1, 2024 and will expire on August 31, 2024. Suzhou Alphamab agreed to lease the Leased Premises, together with relevant workshops and warehouses that are located in the Leased Premises, to Jiangsu Alphamab, for the purpose of biologics manufacturing and storage of relevant materials. Rental Fee: RMB 838,900 per month (inclusive of decoration and maintenance fee) to be paid monthly.

Other Fees: The utilities fees (including water and electricity expenses), with reference to the local government-prescribed unit price, shall be borne by Jiangsu Alphamab on a monthly basis at its own cost and expenses. Pricing Policy: The Renewed Lease Agreement was entered into in the ordinary and usual course of business of the Group, on arm's length basis, and on normal commercial terms with the rent being determined with reference to the prevailing market rates for similar properties in the same area and the corresponding property management costs for the Leased Premises.