SINOVAC Announces New Board Member and Chairman of the Audit Committee BEIJING - Sinovac Biotech Ltd. (NASDAQ:SVA) ( SINOVAC or the Company ), a leading provider of biopharmaceutical products in China, today announced th

SINOVAC Announces New Board Member and Chairman

of the Audit Committee

BEIJING - Sinovac Biotech Ltd. (NASDAQ:SVA) ("SINOVAC"

or the "Company"), a leading provider of biopharmaceutical products in China, today announced that its board of directors

(the "Board") has appointed Sven H. Borho, CFA, as director to the Board to fill in a vacancy created by a recent resignation.

As a qualified audit committee financial expert under Nasdaq Rule 5605, Mr. Borho has also been elected as the Chair of the Audit Committee

Mr. Borho is a founder and Managing Partner of OrbiMed and has over

30 years of experience investing in the healthcare sector. OrbiMed is a leading healthcare investment firm with approximately $17 billion

in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations,

through a range of private equity funds, public equity funds and royalty/credit funds. OrbiMed funds have been shareholders of SINOVAC

since 2013 and currently hold over 2.7 million shares.

Following this appointment, the Board consists of five members, including

Dr. Chiang Li (Chairman), Mr. Yuk Lam Lo, Dr. David Guowei Wang, Mr. Pengfei Li, and Mr. Sven H. Borho, CFA. The Audit Committee of the

Board consists of three members, including Mr. Borho, Mr. Lo and Dr. Wang. Dr. Li, Mr. Lo and Dr. Wang remain members of the Compensation

Committee and the Corporate Governance and Nominating Committee.

Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company

that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.

SINOVAC's product portfolio includes vaccines against COVID-19,

enterovirus 71 (EV71) infected hand-foot-mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease,

The COVID-19 vaccine, CoronaVac , has been approved

for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive , passed WHO prequalification

requirements in 2017. The EV71 vaccine, Inlive , is an innovative vaccine under "Category 1 Preventative Biological

Products" and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella

vaccine were prequalified by the WHO.

SINOVAC was the first company to be granted approval for its H1N1 influenza

vaccine Panflu.1 , which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company

is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu , to the Chinese government stockpiling program.

SINOVAC continually dedicates itself to new vaccine R&D, with more

combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive

and in-depth trade and cooperation with additional countries, and business and industry organizations.

For more information, please visit the Company's website at www.sinovac.com.

Sinovac Biotech Ltd.