YS Biopharma Co., Ltd. announced changes to its board of directors and key strategic appointments within its wholly-owned subsidiaries in China. Each of Mr. Bo Tan and Mr. Shaojing Tong has resigned as a director of the Company for personal reasons, effective from February 29, 2024. Their resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies, or practice.

Following such resignation, the Board currently consists of ten directors, including: (1) Dr. Ajit Shetty (Chairperson of the Board and the Nominating and Corporate Governance Committee), (2) Dr. Hui Shao (David), (3) Ms. Chunyuan Wu (Brenda), (4) Dr. Viren Mehta (Chairperson of Compensation Committee), (5) Ms. Rachel Yu (Chairperson of Audit Committee), (6) Dr. Jin Wang, (7) Mr. Haitao Zhao, (8) Mr. Henry Chen, (9) Mr. Pierson Yue Pan, and (10) Mr. Yuntao Cui. Furthermore, YishengBio (Hong Kong) Holdings Limited ("YishengBio Hong Kong") has designated Ms. Chunyuan (Brenda) Wu, the Company's CFO and a Board director, as the new legal representative and executive director of Beijing Yisheng Biotechnology Co., Ltd., one of YishengBio Hong Kong's wholly-owned subsidiaries in China, for a term of 3 years, effective from March 2, 2024. Additionally, YishengBio Hong Kong has appointed Mr. Gang Li, the Company's Head of Marketing and Sales, as the new legal representative and chairman of the board of directors of Liaoning Beijing Yisheng Biopharmaceutical Co., Ltd., another wholly-owned subsidiary in China, for a term of 3 years, effective from March 2, 2024.

Following such new appointments, the senior officers of YS Biopharma includes (1) Dr. Hui Shao (David, President & CEO, Director), (2) Ms. Chunyuan Wu (Brenda, CFO), (3) Dr. Zenaida Mojares (Chief Medical Officer), (4) Mr. Gang Li (Head of Marketing and Sales), and (5) Dr. Yuan Liu (Head of Vaccine Research).