Genscript Biotech Corporation provided group earnings guidance for the six months ended June 30, 2025. The Group is expected to record a substantial increase in profit before tax for the Reporting Period as compared to the six months ended June 30, 2024 (the "Prior Period"), excluding: (i) share of profits or losses from Legend Biotech Corporation ("Legend") for the Reporting Period, and (ii) the loss from the discontinued operation for the Prior Period given Legend was deconsolidated from the Group on October 18, 2024. The expected increase in the profit before tax of the Group is principally derived from the following reasons: The increase of license revenue: the Group is expected to record license revenue of no less than $182.2 million to $212.5 million, as compared to approximately $755,000 for the Prior Period. The increase of license revenue was mainly caused by the sublicense revenue generated from LaNova Medicines Ltd. ("LaNova"). The increase reflects the continued momentum of the Group's diversified business mode and demonstrates ProBio's ability to participate in the global value chain distribution through its leading technology and platforms. For details of payments received from LaNova. The decrease of the non-cash fair value loss derived from Probio Series A Preferred Shares and Probio Series C Preferred Shares. The Group is expected to record such fair value loss of approximately $13.1 million to $15.2 million, as compared to approximately $113.5 million for the Prior Period. Projections indicate no significant change of the fair value of Probio Technology Limited ("ProBio") between June 30, 2025, and December
31, 2024.