Zai Lab Corporate Presentation October 2018 Disclaimer This - PowerPoint PPT Presentation

Zai Lab Corporate Presentation October 2018

Disclaimer This presentation includes forward-looking statements, beliefs or opinions, including statements with respect to our business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or compar able terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved. Factors that may materially affect our results include, among other things, the scope, rate and progress of our clinical and preclinical trials and other research and development activities, anticipating timing of new clinical trials, our plans to commercialize our product candidates, the timing of, and ability to, obtain and maintain necessary regulatory approvals for our product candidates and those risks listed in our prospectus filed with the Securities and Exchange Commission on September 21, 2017 and in our filings with the Securities and Exchange Commission. Such forward-looking statements contained in this presentation speak only as of the date of this presentation. We expressly disclaim any obligation or undertaking to update any forward-looking statement contained in this presentation to reflect any change in our expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law. You may get copies of our final prospectus and other Securities and Exchange Commission filings for free by visiting EDGAR on the Securities and Exchange Commission’s website at http:// www.sec.gov. 1

Leader in bringing innovative therapies to China and worldwide We are We have We are led by Broad pipeline Eight programs in development (six Experienced global China-based biopharma in late-stage) and proven in-house leaders with domestic discovery capabilities Expanding US presence expertise Oncology, anti-infectives and autoimmune Proven ability to rapidly advance in- licensed assets into clinical Multi-disciplinary Developing innovative development in China track record therapeutics t o transform the lives of patients in Extensive local network Expanding two leading commercial China and worldwide and capabilities platforms 2

Building the leading China-based, fully-integrated, global pharmaceutical company Becoming a fully integrated, global biopharmaceutical company Focused on bringing innovative therapies to China Grow global capabilities and Expand pipeline presence with in worldwide rights Accelerate development; Build leading commercial ✓ Expand commercial platform ✓ Build internal manufacturing Late-stage assets for Chinese market discovery platform ✓ Grow global and through licensing ✓ Access external China-focused ✓ Pioneer innovative innovations globally commercial sales drug development force ✓ Leverage China pathway in China ✓ 8 Assets targeting resources to ✓ Explore inorganic the largest and ✓ Assembling most develop and growth opportunities fastest growing experienced and commercial disease areas productive products for the commercial team for ✓ Track record of world innovative products partnerships 3

Strong, execution-oriented leadership team Samantha Du Ph.D. Founder, Chairman & CEO Yong-Jiang Hei Billy Cho Harald Reinhart Tao Fu M.D., Ph.D. MBA, MA M.D. MBA, MS, CFA Chief Medical Officer - Chief Financial Officer Chief Medical Officer - President and COO Oncology Autoimmune and Infectious Diseases William Liang James Yan Ning Xu Jonathan Wang M.D. Ph.D. M.D. MBA Chief Commercial EVP, Head of Pre-clinical EVP Head of Clinical SVP Head of BD Officer Development and Drug and Regulatory Safety Scientific advisory board Neal Rosen Gwen Fyfe Richard Flavell M.D., Ph.D. M.D. Ph.D., FRS 4

China’s Innovative Drug Market Opportunity Population (1) (mm) 1,380 126 327 Middle Class Population (2) (mm) 109 53 92 % of Total Population 7.9% 42.0% 28.1% Pharmaceutical Market Size (3) (US$ bn) 115 68 370 Pharmaceutical Market Size CAGR 0.2% (8) 11.3% 6.2% (2014-2018E) Annual Cancer Incidence (4) (mm) 1.0 1.7 4.3 Antibiotics Global Market Share (5) ~50% NA NA (volume) Innovative Patented Prescriptive Drugs 22% N/A 75% % of Total Drug Sales (6) Market Cap of leading innovative biopharma companies (7) (US$ bn) 1 – 7 10 – 40 40 – 250 Note: (1) China population as of 2016 from National Bureau of Statistics of China; US population as of 2016 year end from US Census; J apan’s population is as of 2017 year end from MarketLine report (2) As of 2016 year end for China and US, Global Wealth Report; As of 2017 year end for Japan, government survey (3) Market size as of 2016, Frost and Sullivan report and MarketLine report (4) As of 2015, Cancer Statistics of China 2015 for China, Statista Portal for US, and Ganjoho for Japan (5) Chinese Academy of Sciences; By volume (6) As of 2016, Frost and Sullivan report for China and US 5 (7) Market data as of 31/8/2018, Bloomberg (8) CAGR of 2013 – 2017, MarketLine report

Regulatory reform in China driving innovation in drug development Selected reform initiatives announced by CFDA 1 in 2017 and YTD 2018 Accelerate the review and approval of urgently needed new drug applications China joins ICH – Integration of regulatory system into the international community Encourage China to join early global simultaneous development Conditional Approvals for Urgently Needed Drugs Improve clinical trial infrastructure to encourage innovation Enhance IP and Data protection for innovative drugs China innovative drug industry could be entering a golden age of innovation and development, shifting from an international manufacturing base to a most promising strategic market and efficient R&D center Note: China Food and Drug Administration (CFDA) has been recently renamed to National Medical Products Administration (NMPA). 6

Broad China and global product pipeline (Oncology) Phase 3/ Commercial Program Indication Preclinical Phase 1 Phase 2 Partner pivotal rights Ovarian Cancer (2 nd line maintenance) / PK Study Ovarian Cancer (1 st line maintenance) ZL-2306 China, HK, and Macau (Niraparib) Small Cell Lung Cancer Other GBM NSCLC / Brain Metastases / Pancreatic Cancer Optune China, HK, and Macau Mesothelioma / Ovarian Cancer / Gastric Cancer China, HK, Macau Gastric Cancer / GEJ FPA144 and Taiwan China, HK, and ZL-2301 Hepatocellular Carcinoma (HCC) Macau Non-Small Cell Lung Cancer (NSCLC) ZL-2302 Global Oncology FDA approved HK approved 7

Broad China and global product pipeline (Infectious & Auto-immune) Phase 3/ Commercial Program Indication Preclinical Phase 1 Phase 2 Partner pivotal rights Acute Bacterial Skin and Skin Structure Infection (ABSSSI) China, HK, Macau ZL-2401 and Taiwan (Omadacycline) Community-Acquired Bacterial Pneumonia (CABP) ETX2514 A.Baumanii Bacterial Infections Asia Pacific Global Psoriasis ZL-1102 Internal Focused on immunotherapy / targeted therapy / autoimmune Global Discovery FDA approved Infectious Auto-immune 8

Zai is uniquely positioned to establish Niraparib as the leading PARP franchise in China ZL-2306 (Niraparib), currently in Phase 3 studies for ovarian (1 st and 2 nd line maintenance) and SCLC ✓ Commercial launch in Hong Kong expected in 4 Q’ 2018 ✓ Building a “pipeline in a product” potentially through monotherapy and/or combination studies for various other cancers to ✓ maximize commercial potential Potential addressable China patient population 60k 679k 1,006k 147k 41k 27k 52k Ovarian 1 Breast 2 Breast 2 SCLC 3 Gastric Prostate Current Other solid Total potential (gBRCA+) (Triple negative) (stomach) China patient tumors China patient opportunity opportunity Pivotal stage Sources: 1. Cancer Statistics in China, 2015, a study published by Wangqing Chen et. al. in “A Cancer Journal for Clinicians” in 2016, and based on historical data from 72 local, population - based cancer registries, representing 6.5% of China’s population. 2. Assumes that 10% and 15% of the total breast cancer pati ents would be with gBRCA+ mutation and triple negative mutation, respectively. According to the study by Kim and Choi in 2013, the percentage of BRCA 1/2 gene mutation in familial breast cancer and early-onset breast cancer patients ranged from 8.0% to 13.5% and from 8.7% to 11.4%, respectively. 10-20% of breast cancer is Triple-negative, according to the study by Ping-Ping Bao et. al in 2016. 3. American Cancer Society estimated that globally about 80-85% of lung cancers are NSCLC. Calculation is based on 80% for NSCLC and 20% for SCLC patients. 9