Yi Zhang and shareholders representing over 59.2% of the outstanding shares of YS Biopharma Co., Ltd. (company or YS) announced the successful approval of all resolutions at the YS Extraordinary General Meeting of Shareholders (EGM) held on February 16, 2024. The resolutions passed by the shareholders at the EGM are as follows: The removal of the following directors from office of the Company: Hui Shao, Bo Tan, Ajit Shetty, Viren Mehta, Shaojing Tong, Rachel Yu, Yuntao Cui, Jin Wang, Henry Chen, Haitao Zhao, Pierson Yue Pan and Chunyuan (Brenda) Wu; and the election of the following seven nominees as directors of the Company: Nan Zhang, Yun (Monica) Zhang, Chi Keung (Peter) Lui, Jing Xia Li, Yi Zhang, Yuan Liu and Jimin Wang. Immediately following the successful conclusion of the EGM, the new board of directors of the Company voted [unanimously] to effect the following resolutions (among others): the appointment of Mr. Yi Zhang as the chairperson of the board with immediate effect; the removal of each of Hui Shao, Bo Tan, Ajit Shetty, Viren T. Mehta, Shaojing Tong and Rachel Yu (collectively, the "Removed Directors") from all of the relevant committees of the board of the Company including the audit committee, the compensation committee and the nominating and corporate governance committee and from the relevant board and committee (if any) of each subsidiary of the Company with immediate effect; the appointment of each of Jing Xian Li, Chi Keung (Peter) Lui and Yun (Monica) Zhang as a member of the audit committee and Chi Keung (Peter) Lui as the chairperson of the audit committee with immediate effect; the appointment of each of Yun (Monica) Zhang, Jing Xian Li and Nan Zhang as a member of the compensation committee and Yun (Monica) Zhang as the chairperson of the compensation committee with immediate effect; the appointment of each of Yi Zhang, Yun (Monica) Zhang and Jing Xian Li as a member of the nominating and corporate governance committee and Yi Zhang as the chairperson of the nominating and corporate governance committee with immediate effect; the removal of Hui Shao from all positions with the Company and any subsidiaries of the company, including without limitation as president of the company.