NEW YORK -- SAIF Partners IV L.P., (“SAIF Partners”, “we” or “us”), announced that Sinovac Biotech Ltd. (“Sinovac” or the “Company”) shareholders voted to approve SAIF Partners’ proposals to remove the Company’s incumbent directors and to elect SAIF Partners’ slate of ten highly qualified director nominees to the Board of Directors (the “Board”) at Sinovac’s Special Meeting of Shareholders (the “Special Meeting”).

On July 8, 2025, at 8:00 p.m. Atlantic Standard Time, Sinovac’s incumbent Chairman Chiang Li convened, then immediately purported to adjourn, the Special Meeting without allowing shareholders to participate. SAIF Partners representatives, alongside those of other shareholders, had arrived at the Special Meeting intending to participate in the meeting.

Subsequently, the shareholder representatives present convened a continuation of the Special Meeting, chaired by incumbent Sinovac Director Mr. Yuk Lam Lo, the only remaining director on the incumbent Board approved by Privy Council. During the Special Meeting, Sinovac’s shareholders voted to approve both of SAIF Partners’ proposals, based on a tabulation of votes cast on SAIF Partners’ gold proxy card and the Company’s white proxy card.

The newly elected directors of the Company are committed to supporting and executing Sinovac’s announced payout of dividends and working closely with Sinovac’s management to unlock long-term value for all shareholders by pursuing the resumption of trading of the Company’s common shares to help Sinovac realize its tremendous potential.