Sinovac Commences Legal Proceedings to Nullify Filings Bearing a Falsified Company Seal and Forged Board Member Signatures

2018-10-16

BEIJING -- Senior management of Sinovac Biotech Ltd. (NASDAQ: SVA) ("Sinovac" or the "Company") and the lawful directors of Sinovac Hong Kong have commenced legal proceedings in the High Court of the Hong Kong Special Administrative Region to nullify and remove forged documents that were illegally filed with the Hong Kong Companies Registry in respect of Sinovac Biotech (Hong Kong) Limited (“Sinovac HK”) and with the Industry and Commerce Bureau of Beijing in respect of Sinovac Biotech Co., Ltd. (“Sinovac Beijing”). In addition, in the High Court of Justice in Antigua and Barbuda, the Company has petitioned for 1Globe Capital LLC (“1Globe”) to be restrained from making any attempt to take control of the company or in any other way undermine the court’s authority in the existing litigation between 1Globe and the Company.

As described in a previous press release, Sinovac Biotech Ltd. became aware Monday October 8, 2018 that unauthorized changes have been made to the Hong Kong Companies Registry for Sinovac Biotech (Hong Kong) Limited (“Sinovac HK”) and that unauthorized changes have been made to the Industry and Commerce Bureau of Beijing for Sinovac Biotech Co., Ltd. (“Sinovac Beijing”).

The Board of Directors and management of publicly traded Sinovac Biotech Ltd., which remain unchanged by the actions of Sinobioway and the Dissident Shareholders, are closely monitoring these unauthorized actions purportedly taken at Sinovac HK and Sinovac Beijing and continue to comply with their fiduciary duties to act in the best interests of the Company and all shareholders as the Company moves forward in its mission to develop vaccines that enhance health in China and around the world and create shareholder value. Furthermore, the Board of Directors and management of Sinovac are vigorously protecting the rights of all shareholders in all applicable courts.

About Sinovac

Sinovac Biotech Ltd. is a China-based biopharmaceutical Company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. Sinovac's product portfolio includes vaccines against enterovirus71, or EV71, hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), and mumps. Healive, the hepatitis A vaccine manufactured by the Company has passed the assessment under WHO Prequalification procedures in 2017. The EV71 vaccine, an innovative vaccine developed by Sinovac against hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, pneumococcal conjugate vaccine and varicella vaccine. Sinovac primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company has exported select vaccines to over 10 countries in Asia and South America. For more information please refer to the Company’s website at www.sinovacbio.com.

Safe Harbor Statement

This announcement may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements.

Investor Contacts:

Sinovac Biotech Ltd.

Helen Yang

Tel: +86-10-8279-9871

Fax: +86-10-6296-6910

Email: ir@sinovac.com

ICR

Bill Zima

Tel: +1-646-308-1707

Email: william.zima@icrinc.com

Media Contact:

Abernathy MacGregor

Sheila Ennis

Tel: +1-415-745-3294

Email: sbe@abmac.com

China Media Contact:

ICR

Edmond Lococo

Tel: +86-10-6583-7510

Email: Edmond.Lococo@icrinc.com

About SINOVAC

Sinovac Biotech Ltd. (SINOVAC) is a China-based global biopharmaceutical company, with a mission of "supply vaccines to eliminate human diseases", the company specializes in the research, development, manufacturing and commercialization of vaccines and related biological products that protect against human infectious diseases.

The company's diversified portfolio includes vaccines for influenza, viral hepatitis, varicella, Hand-Foot-Mouth disease (HFMD), poliomyelitis, pneumococcal disease, etc., of which 3 vaccines have been prequalified by WHO, including inactivated hepatitis A vaccine Healive®, Sabin-strain inactivated polio vaccine (sIPV), and varicella vaccine.

SINOVAC has a leading edge in developing vaccines to combat infectious disease outbreaks and was among the first to initiate R&D during major public health emergencies, including SARS, H5N1, H1N1, and COVID-19. The company developed the world's first inactivated SARS vaccine (Phase I completed), China's first H5N1 influenza vaccine (Panflu®), the world's first H1N1 influenza vaccine (Panflu.1®), and CoronaVac®, the most widely used inactivated COVID-19 vaccine globally.

Beyond its marketed portfolio, the company is advancing a robust pipeline that includes combination vaccines,recombinant protein vaccines and next-generation platforms such as mRNA technologies and antibodies.

With a long-standing commitment to innovation and global health, SINOVAC is expanding its global footprint by strengthening partnerships with research institutions, international organizations, and local partners. Through broader market presence, technological cooperation, and localized production, the company aims to accelerate vaccine development and supply, enhance regional access to high-quality products, and better address unmet medical needs while improving preparedness for future pandemics.

For more information, please see the Company’s website at www.sinovac.com.