FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260616E00425 
1. Date of relevant event: 12/06/2026
(dd/mm/yyyy)
2. Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later):
(dd/mm/yyyy)
3. Stock code: 09688
4. Name of listed corporation: Zai Lab Ltd. 
5. Class of shares: Ordinary Shares 
6. Number of issued shares in class: 1,134,128,030
7. Name of substantial shareholder: The Goldman Sachs Group, Inc. 
8. Registered office: Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA
9. Principal place of business in Hong Kong: Nil 
15. Exchange on which listed: New York Stock Exchange
16. Name of listed parent and exchange on which parent is listed: Nil 
17. Details of relevant event:
  Brief description of relevant event Capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price (per share) Average price (per share) Average consideration (per share) Nature of consideration
Long position
Short position 
1503You ceased to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares decreased because:
any other event (you must briefly describe the relevant event in the Supplementary Information box)
 
2201Interest of corporation controlled by you
 
 		 3,145,120           
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position63,116,8885.57
Short position35,457,0093.13
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position63,116,8885.57
Short position32,311,8892.85
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2201Interest of corporation controlled by you
Long position63,116,888
Short position32,311,889

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4101Listed derivatives - Physically settled
Long position25,362,606
Short position8,591,690
4105Unlisted derivatives - Physically settled
Long position7,720,362
Short position6,600
4106Unlisted derivatives - Cash settled
Long position8,032,846
Short position13,905,235
22. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling person% controlDirect interest (Y/N)Number of shares
Goldman Sachs & Co. LLC200 West Street, New York, NY 10282, USAThe Goldman Sachs Group, Inc.100.00Y
Long position25,437,506
Short position19,613,048
Goldman Sachs (UK) L.L.C.Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USAThe Goldman Sachs Group, Inc.100.00N
Long position37,635,238
Short position12,698,841
Goldman Sachs Group UK LimitedPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGoldman Sachs (UK) L.L.C.100.00N
Long position37,635,238
Short position12,698,841
Goldman Sachs InternationalPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGoldman Sachs Group UK Limited100.00Y
Long position37,635,238
Short position12,698,841
GSAM Holdings LLC251 Little Falls Dr., Wilmington, DE 19808, USAThe Goldman Sachs Group, Inc.100.00N
Long position41,393
Short position0
Goldman Sachs Asset Management, L.P.Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USAGSAM Holdings LLC99.00Y
Long position41,393
Short position0
GSAM Holdings LLC251 Little Falls Dr., Wilmington, DE 19808, USAThe Goldman Sachs Group, Inc.100.00N
Long position2,505
Short position0
GSAMI Holdings I LLC251 Little Falls Drive, Wilmington, DE 19808, USAGSAM Holdings LLC100.00N
Long position2,505
Short position0
GSAM Holdings II LLC251 Little Falls Drive, Wilmington, DE 19808, USAGSAM Holdings LLC100.00N
Long position2,505
Short position0
GSAMI Holdings II LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAMI Holdings I LLC52.75N
Long position2,505
Short position0
GSAMI Holdings II LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAMI Holdings III LTD47.25N
Long position2,505
Short position0
GSAMI Holdings III LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAMI Holdings I LLC100.00N
Long position2,505
Short position0
GSAMI Holdings III LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAM Holdings II LLC100.00N
Long position2,505
Short position0
Goldman Sachs Asset Management International Holdings LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAMI Holdings II LTD100.00N
Long position2,505
Short position0
Goldman Sachs Asset Management International Holdings LTDPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGSAMI Holdings III LTD100.00N
Long position2,505
Short position0
Goldman Sachs Asset Management InternationalPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGoldman Sachs Asset Management International Holdings LTD100.00Y
Long position2,505
Short position0
Folio Financial, Inc.8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USAThe Goldman Sachs Group, Inc.100.00N
Long position246
Short position0
Folio Investments, Inc.8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USAFolio Financial, Inc.100.00Y
Long position246
Short position0

23. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
 
24. Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust:
Names of trustAddressStatus codeNumber of shares
  
25. Further information from a party to an agreement under Section 317 (Please see Notes for further information required):
Names of other partiesAddressNumber of shares
 
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26. Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act:
NamesAddressRelationship CodePercentage (%)
  
 
27. Supplementary information: The percentage level of our short interest in the shares has decreased due to sale of listed derivative(s).
28. Log/Serial Number of the previous form:
29. Number of concert party document(s) under section 317 attached/uploaded:
Date of filing this Form 2: 16/06/2026
(dd/mm/yyyy)