Zai Lab : Corporate Presentation

Building a Global Biopharma Leader

September 2022

Forward-Looking Statements

This presentation contains statements about future expectations, plans, and prospects for Zai Lab, including, without limitation, statements regarding our ability to advance our clinical pipeline and further demonstrate our commercial and discovery capabilities, expected milestones for our products and product candidates, and other statements containing words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "possible," "potential," "will," "would," and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact nor are they guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this presentation and are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward- looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products, (2) our ability to obtain funding for our operations and business initiatives, (3) the results of clinical and pre-clinical development of our product candidates, (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates, (5) the effects of the coronavirus (COVID-19) pandemic, including any government actions or lockdown measures taken in response, on our business and general economic, regulatory and political conditions, (6) risks related to doing business in China, and (7) other factors discussed in our most recent annual and quarterly reports and other reports we have filed with the U.S. Securities and Exchange Commission. We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this presentation.

Our SEC filings can be found on our website at www.zailaboratory.comand on the SEC's website at http://www.sec.gov.

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities of Zai Lab Limited.

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We Are On Track to Deliver 2022 Corporate Priorities in the Second Quarter

Achieved Key Regulatory

Milestones

• Efgartigimod

China BLA acceptance

• ZL-1102(IL-17)

Discussing trial protocol with the FDA for a global Ph2 program

Demonstrated Commercial

Excellence

• ZEJULA

Revenue growth of 46% y-o-y and 15% q-o-q; on track to

become a PARP market

leader in ovarian cancer

Pipeline Continues to Demonstrate Best-in-class/First-in-class Potential

Positive data readouts since 2Q'22:

• KarXT

Ph3 study in schizophrenia

• Adagrasib

Ph2 registration-enabling study in NSCLC

• CLN-081

Ph1/2a study in NSCLC

• Repotrectinib

Ph1/2 registrational study in ROS1+ NSCLC

• TTFields

Ph2 pilot study in GC

• Efgartigimod

Ph3 study in ITP

• ZEJULA

Subgroup analysis of Ph3 study in OC1

Capital Markets & Corporate

Governance Enhancements

Support Long-term Growth

• Engagement of U.S. Auditor Subject to PCAOB Inspection

Zai believes we will comply with the audit requirements of the HFCAA for fiscal year 2022

• Primary Listing & Stock Connect Inclusion in Hong Kong

Additional opportunity for eligible investors in mainland China to invest in Zai

• COO Joins Zai

Josh Smiley joined as Chief

Operating Officer on August 1

Abbreviations: National Reimbursement Drug List (NRDL), year-over-year(y-o-y),quarter-over-quarter(q-o-q),non-small-cell lung cancer (NSCLC), gastric cancer (GC), primary immune thrombocytopenia (ITP), ovarian cancer (OC),

3 Holding Foreign Companies Accountable Act (HFCAA).

Notes: (1) A new prespecified subgroup analysis from the Ph3 PRIME study for niraparib in patients in China with ovarian cancer at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting.

Who We Are

Biotech mindset + Pharma quality + Zai Lab speed + Global talent

Leader in the 2nd-largest and a fast-growing pharma market with an unmatched portfolio

Bringing the best medicines to China today and to the world tomorrow Leveraging our strength in China to become a global biopharma leader

Diversified Commercial

Portfolio

2025…

Preferred	Integrated
Biopharma
Partner in China	2021

2017

Founded 2014

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Differentiated Strategic Positioning and Financial Visibility

DEEP PIPELINE WITH CLEAR DIFFERENTIATION

De-risked portfolio addresses large unmet needs with breadth of modalities and disease area strongholds

SCIENCE-DRIVEN R&D WITH PROVEN GLOBAL CLINICAL DEVELOPMENT EXPERTISE

Focused and efficient R&D strategy delivering a pipeline with global rights in 5 years, with assets reaching proof-of-concept while adding global talent and capabilities

FULLY INTEGRATED PLATFORM FROM PARTNER OF CHOICE TO COMMERCIAL CAPABILITIES

Flywheel effect creating a virtuous cycle, quickly bringing innovative best-in-class/first-in-class assets to China and beyond

FINANCIAL STRENGTH, VISIBILITY AND CAPITAL EFFICIENCY

Continue to grow and execute with Zai Speed and Quality. Strong balance sheet (with a cash position of $1.26 billion as of June 30, 2022), commercial execution and productivity provide multi- year runway without impacting generational growth opportunity

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