The Board of Directors of Sinovac Biotech Rejects The Recent Claims By Saif And The Imposter Former Board

The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ:SVA) ("SINOVAC" or the "Company"), a leading biopharmaceutical company in China, categorically rejects the recent deceptive and illegal claims by SAIF and the Imposter Former Board that it purported to "reconvene" the adjourned Special Meeting of Shareholders (the "Special Meeting") and announced sham voting results of the shareholder proposals.

At the July 8, 2025 Special Meeting, SINOVAC Chairman Chiang Li validly adjourned the meeting, to preserve the integrity of the Special Meeting and protect shareholder interests, pending the resolution of litigation in Antigua related to the validity of the 11.8 million shares purportedly issued following an invalid private investment in public equity ("PIPE") to Advantech/Prime and Vivo Capital (together known as the "Dissenting Investor Group").

SINOVAC shareholders should ignore SAIF's lies. SAIF and the Imposter Former Board did NOT have the authority or any legal basis to "reconvene" the Special Meeting following the valid adjournment. SAIF's self-declaration of a final tally of shareholder votes was a complete sham. SINOVAC is evaluating its legal remedies with respect to the deceptive and unlawful conduct of SAIF and the Imposter Former Board, including with authorities in Antigua and the United States.

William P. Fiske, Head of M&A and Contested Situations at Georgeson, SINOVAC's proxy solicitor, stated, "At the time of the Special Meeting, according to our preliminary voting tallies, the Company's White Proxy Card secured overwhelming support from valid shareholders for the current SINOVAC Board. Had the injunction granted by the Antigua Court not been temporarily stayed, the shareholders would have voted in favor of the current SINOVAC Board."

SAIF and the Gold Proxy Card secured little support outside of the same incumbent group that has propped up the Imposter Former Board to seize control of SINOVAC and destroy value for all valid common shareholders – just as they did during the seven years that they held SINOVAC hostage. The Imposter Former Board's refusal to acknowledge the lawful adjournment of the Special Meeting and their fabrication of the meeting's outcome are wholly illegal, invalid, and reckless.

The rightful SINOVAC Board remains in place and will continue to govern the Company. The Board has a duty to implement the UK Privy Council's judgment and order, which includes resolving the question of the validity of the PIPE shares. The Board will continue to fight on behalf of all SINOVAC shareholders and remains committed to its mission of restoring fairness, delivering value and protecting the rights of all valid shareholders.