BEIJING -- SAIF Partners IV L.P., (“SAIF Partners”), the largest single investor in Sinovac Biotech Ltd. (“Sinovac” or the “Company”), beneficially owning approximately 15% of the outstanding common shares, sent a letter to its fellow Sinovac shareholders exposing the current Sinovac Board’s failure to act in the interest of all shareholders resulting in failure to pay shareholders dividends and to resume trading of the shares after a six-year halt.

This is a stark contrast to the ten highly qualified individuals that SAIF Partners has nominated for election to Sinovac’s Board of Directors (the “Board”) who are deeply committed to working proactively to help shareholders realize the full value of their investment in Sinovac, which they have been denied for many years. In fact, Sinovac management - and not the current Board - is working actively to make funds available for payment of a dividend.

Shareholders will have the opportunity to vote for change by electing SAIF Partners’ nominees in connection with the special meeting of the shareholders of the Company to be held on Tuesday, July 8, 2025 at 8 p.m. Atlantic Standard Time (Wednesday, July 9, 2025 at 8:00 a.m. China Standard Time), and at any adjourned, postponed, continued, or rescheduled meeting thereof (the “Special Meeting”).

In the letter, SAIF Partners highlights how the current board - which is largely comprised of directors who are not duly elected by the shareholders and are not sanctioned by the Privy Council - has failed to take action until it was pressured to do so by shareholders. Further, the current Board has not demonstrated interest in building value for Sinovac shareholders and is generally disengaged from management. If elected, SAIF Partners’ nominees will work closely with management to address Sinovac’s challenges, and will bring disciplined corporate governance, proper capital allocation, strategic foresight and operational excellence to the Company.

SAIF Partners also reiterates its plan to address the most critical priorities for Sinovac, including declaring additional dividends, resuming trading of common shares and resolving shareholder disputes.