VOLUNTARY ANNOUNCEMENT - EXCLUSIVE LICENSE AGREEMENT FOR SYSA1801 WITH ELEVATION ONCOLOGY, INC.

– 1 – Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in Hong Kong with limited liability) (Stock code: 1093) VOLUNTARY ANNOUNCEMENT EXCLUSIVE LICENSE AGREEMENT FOR SYSA1801 WITH ELEV ATION ONCOLOGY, INC. The board of directors (the “Board”) of CSPC Pharmaceutical Group Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that CSPC Megalith Biopharmaceutical Co., Ltd* (“CSPC Megalith”) (ʮ̡), a subsidiary of the Company, has entered into an exclusive license agreement (the “Agreement”) with Elevation Oncology, Inc. (“Elevation Oncology”) for the development and commercialization of the Group’s SYSA1801, a novel (first-in-class) anti-Claudin 18.2 antibody-drug conjugate (ADC) (the “ Product”) outside of Greater China (including mainland China, Hong Kong, Macau and Taiwan) (the “Territory”). Under the terms of the Agreement, CSPC Megalith agreed to grant an exclusive license to Elevation Oncology to develop and commercialize the Product in the Territory. CSPC Megalith will receive an upfront payment of US$27 million and is also eligible to receive up to US$148 million in potential development and regulatory milestone payments and up to US$1.02 billion in potential sales milestone payments. CSPC Megalith is also eligible to receive royalties up to double-digit percent of the annual net sales of the Product in the Territory. CSPC Megalith will retain all rights to the Product in Greater China. About SYSA1801 Claudin 18.2 is frequently overexpressed in gastric, pancreatic and lung cancers and less prevalently expressed in other types of cancers. In normal tissues Claudin 18.2 is strictly limited to the differentiated epithelial cells typically buried within the gastric mucosa and is largely inaccessible to monoclonal antibodies. These mechanisms make Claudin 18.2 an attractive and promising therapeutic target. – 2 – In the preclinical studies, the Product has demonstrated specific growth inhibitory activities against Claudin 18.2 expressing cells in vitro and potent anti-tumor efficacy in vivo in mice bearing human gastric, pancreatic, or lung cancer models. The Product has also demonstrated safety in rodent and non-human primates. The Product has been granted orphan-drug designation for the treatment of gastric cancer (including cancer of gastroesophageal junction) in 2020 and pancreatic cancer in 2021 by the U.S. Food and Drug Administration. A multicenter, dose escalation and dose expansion phase I study is under way in China to evaluate the safety, tolerability, pharmacokinetics and preliminary efficacy of the Product. About Elevation Oncology Elevation Oncology (Nasdaq: ELEV) is a clinical-stage biopharmaceutical company in the U.S. focused on the development of precision medicines for patients with genomically defined cancers. By order of the Board CSPC Pharmaceutical Group Limited CAI Dongchen Chairman Hong Kong, 28 July 2022 As at the date of this announcement, the Board comprises Mr. CAI Dongchen, Mr. ZHANG Cuilong, Mr. WANG Zhenguo, Mr. P AN Weidong, Mr. WANG Huaiyu, Dr. LI Chunlei, Dr. WANG Qingxi, Mr. CHAK Kin Man and Dr. JIANG Hao as executive directors; and Mr. WANG Bo, Mr. CHEN Chuan, Prof. WANG Hongguang, Mr. AU Chun Kwok Alan, Mr. LAW Cheuk Kin Stephen and Ms. WU Guizhen as independent non-executive directors. * For identification purposes only

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