On March 8, 2021, John Walker, Chairman of the Board of Directors (the “Board”) of Zosano Pharma Corporation (the “Company”), delivered notice of his intention to retire from the Board effective as of, and not stand for reelection at, the upcoming annual meeting of shareholders, which is currently scheduled for June 10, 2021. The Company expects that Mr. Walker will continue to serve in a consulting role to the Company following his retirement from the Board. Mr. Walker is retiring from the Board and his decision not to stand for reelection is not a result of a disagreement with the Company on any matter relating to the Company’s operations, policies or practices.