HUTCHMED (China) Limited announced that with effect from July 13, 2023: Mr. Lefei Sun, having left his position at General Atlantic, has resigned as Non-executive Director and member of the Technical Committee of HUTCHMED; and Ms Ling Yang, managing director of The Carlyle Group and co-head of Carlyle Asia Healthcare, has been appointed as Non-executive Director of HUTCHMED and will hold office until the next general meeting when she will stand for re-election. The Board of Directors of HUTCHMED (the “Board”) is of the view that the appointment of Ms Yang would provide significant benefits to HUTCHMED taking into consideration her experience in biotechnology company management, business strategy, capital markets and mergers and acquisitions. Ms Yang had been the managing director of Carlyle and co-head of Carlyle Asia Healthcare since November 2021, in charge of advising in healthcare investment and portfolio activities of Carlyle in China.

Carlyle owns approximately 4.7% of the ordinary shares of HUTCHMED, through its affiliate CA Fern Parent. Ms Yang, aged 43, is chairwoman and non-executive director of ADICON Holdings Limited; director of Shenzhen Salubris Pharmaceuticals Co. Ltd.; non-executive director of Ambio Pharmaceuticals and Ambio Inc.; chairwoman of Adicon (Hangzhou) Clinical Laboratories Co.

Ltd. and Aidiken (Hangzhou) Biotech Co., Ltd; and director of Adicon International Limited and Manson Grand International Limited. She was previously non-executive director of Ambio Holdings Inc.Ms Yang previously worked at KKR Asia Limited at which her last position was a principal primarily responsible for carrying out investments made by KKR Asia Limited. She also worked as an associate in the U.S. leveraged buyout healthcare group of Carlyle; and as an analyst in the investment banking division of The Goldman Sachs Group Inc. She graduated summa cum laude and is a member of Phi Beta Kappa with a bachelor’s degrees in economics and computer science from Smith College and she received her Master of Business Administration degree from Harvard Business School.

Under the terms of her appointment, Ms Yang will serve as a Non-executive Director of the Company until the next general meeting. As a Non-executive Director, she will not receive any fees for her service and that her appointment will be renewed for successive 12-month periods, unless she is not re-elected at the next general meeting or her appointment is otherwise terminated earlier by either party in writing. Save for the appointment listed above, Ms Yang has held no other directorships or partnerships during the period of five years prior to her appointment as a director of HUTCHMED.

Save for her role with Carlyle, she does not have any relationship with any Directors, senior management or substantial or controlling shareholders of HUTCHMED. Ms Yang does not have any interest in the ordinary shares of HUTCHMED within the meaning of Part XV of the Securities and Futures Ordinance (Cap.571 of the Laws of Hong Kong). Save for the information disclosed above, there is no other information in relation to Ms Yang that is required to be disclosed pursuant to Rule 17 and Schedule 2(g) of the A?M Rules for Companies or Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there are no other matters concerning the appointment of Ms Yang that are required to be brought to the attention of the shareholders of HUTCHMED.