ALPHAMAB-B (09966) subsidiary exercises warrants to subscribe for 4.7204 million Series E preferred shares issued by Pathos AI

ALPHAMAB-B (09966) announced that on October 23, 2026, the Company's wholly-owned subsidiary, Alphamab Biopharmaceuticals (Hong Kong) Limited (the Subscriber), fully exercised the warrants by delivering to Pathos AI a notice of exercise under the warrants, together with its counterpart signature pages to Pathos AI's Fourth Amended and Restated Investors' Rights Agreement, Fourth Amended and Restated Right of First Refusal and Co-Sale Agreement, and Fourth Amended and Restated Voting Agreement, and completing payment of the exercise price. The Subscriber has elected to subscribe for, and Pathos AI has issued, 4.7204 million Series E preferred shares of Pathos AI at an exercise price of US$13.24050 per share, representing an aggregate subscription price of approximately US$62.5 million. The exercise enables the Group to participate as a shareholder in Pathos AI's potential value creation, and Pathos AI has been granted an exclusive license to develop and commercialize JSKN016 in the licensed territories. The Board believes that the exercise will further align the interests of the Group and Pathos AI with respect to the global development and commercialization of JSKN016, while the Group will retain its exclusive rights in mainland China, Hong Kong, Macau and Taiwan, and will enable the Group to benefit from Pathos AI's capabilities in precision medicine, AI-driven drug development and oncology clinical development. The subscription shares were acquired at the same per-share price paid by other Series E investors.