Zai Lab Announces First Quarter 2022 Financial Results and Corporate Updates Company to Host Conference Call and Webcast on

Zai Lab Announces First Quarter 2022

Financial Results and Corporate Updates

Company to Host Conference Call and Webcast on May 11, 2022, at 8:00 a.m. ET

SHANGHAI, SAN FRANCISCO, and CAMBRIDGE, Mass., May 10, 2022 Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688), a patient-focused, innovative,

commercial-stage, global biopharmaceutical company, today announced financial results for the first quarter of 2022, along with recent product highlights and corporate updates.

Our first-quarter results reflect Zai s solid foundation and track record of consistent execution, and were marked by progress across the entire

portfolio, said Dr. Samantha Du, Founder, Chairperson and Chief Executive Officer of Zai Lab. Today, Zai s broad, proprietary pipeline consists of 11 assets with global rights. Building upon last year s proof of concept

achievement for ZL-1102, our anti-IL-17A Humabody for chronic plaque

psoriasis, Zai recently unveiled preclinical data from four key oncology programs at the 2022 AACR Annual Meeting. With these assets just beginning to enter

first-in-human and proof-of-concept clinical studies, we are in the exciting early days

of demonstrating Zai s commitment to its in-house discovery and translational research. And of course, this proprietary pipeline complements the advancements within our later-stage partnered pipeline,

which is expected to produce numerous pivotal study readouts throughout 2022.

At the beginning of this year, we established 2022 strategic

priorities that aim to position Zai to lead the next wave of biopharma innovation. I am pleased to say we continue to progress toward achieving these priorities, including progress toward filing the NDA for efgartigimod in China in mid-2022, initiation of a registrational study for bemarituzumab in first-line gastric cancer in Greater China, topline data readout for KarXT from its Phase 3 EMERGENT-2

trial in the third quarter of 2022, and continued investment in R&D to advance our proprietary pipeline with global rights, including moving ZL-1102 into full global development.

Importantly, our commercial team continues to drive significant growth with our four marketed products in Greater China. We remain very confident in the

underlying strengths of our business despite the challenges due to the COVID situation in certain regions in China, current macro and geopolitical headwinds. The fundamental drivers of value at Zai Lab are further strengthened by our expanding

leadership team and global talent, the steps we have taken to facilitate access to global capital markets, and our track record of consistent execution in bringing global first and

best-in-class medicines to patients in China and beyond. Looking forward, we at Zai Lab remain committed in pursuit of our overall vision of improving human health

worldwide, and to build a leading global biopharmaceutical company.

Recent Product Highlights and Anticipated Milestones

ZEJULA is an oral, once-daily small-molecule poly

ADP-ribose polymerase (PARP) 1/2 inhibitor. It is the only PARP inhibitor approved in the United States, the European Union and China as a monotherapy for patients with advanced ovarian

cancer, regardless of their biomarker status.

Recent Product Highlight

Tumor Treating Fields

Tumor Treating Fields (TTFields) are electric fields that disrupt cancer cell division. Optune and Optune Lua, commercial TTFields devices, are

approved or marketed in certain countries or regions for the treatment of newly diagnosed and recurrent glioblastoma and malignant pleural mesothelioma.

Recent Product Highlights

Anticipated 2022 Partner and Zai Milestones

QINLOCK (Ripretinib)

QINLOCK is a switch-control tyrosine kinase inhibitor engineered to broadly

inhibit KIT- and PDGFR -mutated kinases. It is the only therapeutic approved in the United States and China for advanced gastrointestinal stromal tumor (GIST) patients who have

received prior treatment with three or more kinase inhibitors in the all-comer setting.

Adagrasib is a highly selective and potent oral small-molecule inhibitor of KRASG12C for treating

KRASG12C-mutated NSCLC, colorectal cancer (CRC), pancreatic cancer and other solid tumors.

Anticipated 2022 Zai Milestone

Anticipated 2022 Partner Milestones

Bemarituzumab is a potential first-in-class antibody that is being developed in gastric and gastroesophageal junction (GEJ) cancer as a targeted therapy for tumors that overexpress FGFR2b.

Recent Product Highlights

Anticipated 2022 Zai Milestone

Anticipated 2022 Partner Milestone

Odronextamab is a bispecific antibody

designed to trigger tumor killing by linking and activating a cytotoxic T-cell (binding to CD3) to a lymphoma cell (binding to CD20).

Recent Product Highlight

Anticipated 2022 Partner and Zai

Anticipated 2022 Partner Milestones

Repotrectinib is a next-generation tyrosine kinase inhibitor (TKI) designed to effectively target ROS1 and TRK A/B/C, with the potential to treat TKI-na ve or TKI-pretreated patients.

Recent Product Highlights

Anticipated 2022 Zai Milestones

Anticipated 2022 Partner Milestones

CLN-081 is an orally available, irreversible epidermal growth factor receptor (EGFR) inhibitor that selectively

targets cells expressing EGFR exon 20 insertion mutations while sparing cells expressing wild type EGFR.

Recent Product Highlight

Anticipated 2022 Zai Milestone

Anticipated 2022 Partner Milestones

Elzovantinib (TPX-0022)

Elzovantinib is an orally bioavailable, multi-targeted kinase inhibitor with a novel three-dimensional macrocyclic structure that inhibits the MET, CSF1R

(colony stimulating factor 1 receptor) and SRC kinases.

Anticipated 2022 Zai Milestone

Anticipated 2022 Partner Milestones

Retifanlimab is an investigational monoclonal antibody that inhibits PD-1.

Recent Product Update

Anticipated 2022 Partner and Zai Milestone

BLU-945 is a selective and potent investigational inhibitor of

EGFR harboring either the activating L858R or exon 19 deletion mutations combined with the acquired T790M and C797S mutations, common on-target resistance mutations to first-generation EGFR inhibitors and

osimertinib, respectively, for potential treatment of EGFR-driven NSCLC.

Recent Product Highlights

Anticipated 2022 Partner Milestones

BLU-701 is a selective and potent investigational inhibitor of EGFR harboring either the activating L858R or exon 19 deletion mutations combined with the acquired C797S mutation, a common on-target resistance mutation to osimertinib, for potential treatment of EGFR-driven NSCLC.

Recent Product Highlight

Anticipated 2022 Partner Milestone

Internal R&D Oncology Programs

Simurosertib, ZL-2309 (CDC7 Inhibitor, Global Rights)

Simurosertib, or ZL-2309, is a potential

first-in-class oral selective inhibitor of CDC7, a protein kinase with key roles in DNA replication and in bypassing DNA damage response.

Anticipated 2022 Zai Milestone

ZL-1201 (CD47 Inhibitor, Global Rights)

ZL-1201 is a humanized, IgG4 monoclonal antibody, engineered to reduce effector function, that specifically targets

CD47. Its therapeutic potential will be assessed in both solid tumors and hematological malignancies and in both monotherapy and combination opportunities.

Anticipated 2022 Zai Milestone

VYVGART (Efgartigimod)

Efgartigimod is an antibody fragment designed to reduce disease-causing immunoglobulin G (IgG) autoantibodies and block the IgG recycling process. It binds

to the neonatal Fc receptor (FcRn), which is widely expressed throughout the body and plays a central role in rescuing IgG from degradation.

Recent Product Highlights

Anticipated 2022 Zai Milestones

Anticipated 2022 Partner Milestones

ZL-1102 (IL-17 Human VH

Antibody Fragment, Global Rights)

ZL-1102 is a novel human VH antibody fragment (Humabody ) targeting the IL-17A cytokine with high affinity and avidity. Unlike other

anti-IL-17 products, ZL-1102 is being developed as a topical treatment for mild-to-moderate chronic plaque psoriasis (CPP).

Anticipated 2022 Zai Milestone

NUZYRA (Omadacycline)

NUZYRA is a once-daily oral and intravenous antibiotic for the treatment of adults with community-acquired bacterial pneumonia (CABP) and acute

bacterial skin and skin structure infections (ABSSSI). Zai Lab led the China development and obtained approval by the NMPA in December 2021.

Anticipated 2022 Zai Milestones

Sulbactam-Durlobactam (SUL-DUR, Asia Pacific Rights)

Sulbactam-Durlobactam is a beta-lactam/beta-lactamase inhibitor combination that provides unique activity

against Acinetobacter organisms, including carbapenem-resistant strains.

Recent Product Highlight