Sinovac Biotech Announces Antigua High Court Makes Interim Order Giving Board Control Of The Company Until Trial Of Disputed 2025 Shareholder Meeting

Sinovac Biotech Ltd. (NASDAQ:SVA) (SINOVAC or the Company), a leading provider of biopharmaceutical products in China, today announced that the Antigua High Court has ordered that the directors Mr. Simon Anderson, Mr. Shan Fu, Mr. Shuge Jiao, Mr. Yuk Lam Lo, Mr. Yumin Qiu, Mr. Yu Wang, Mr. Andrew Y. Yan and Mr. Yin Weidong (collectively, the Board), will comprise the Board of the Company until the trial listed in late April/early May 2026.

The Antigua High Court decision arises from a hearing that took place on 27 October 2025, at which applicants SAIF Partners IV L.P., OrbiMed Partners Master Fund Limited and 1Globe Capital LLC each sought injunctions to confirm the composition of their respective favoured Boards, pending determination of a dispute over the outcome of the Company's Special Shareholders Meeting on 8 July 2025 (the SSM Dispute).

The hearing of the SSM Dispute has been scheduled to take place in the Antigua High Court in late April/early May 2026, with judgment to be delivered by the Court thereafter.

A Board meeting was held on 17 December 2025 to reiterate its unwavering commitment to shareholder value creation, to work diligently with the management and the advisors of the Company, to make efforts to restore trading of the Company's shares on NASDAQ, to explore opportunities to properly and legally resolve the Company's ongoing disputes, and to take all necessary steps, including to facilitate to reach agreements among all parties, to ensure the stable operations of the Company and to create greater value for shareholders through cooperation.