FORM 2 - Corporate Substantial Shareholder Notice
 
Form Serial Number: CS20260923E00352 
1. Date of relevant event: 18/09/2026
(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: 1,137,828,030
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
1704Miscellaneous
Notice filed because you ceased to have a notifiable interest in the shares of the listed corporation (you must briefly describe the relevant event in the Supplementary Information box)
2201Interest of corporation controlled by you
1,077,800
Short position 
 
 
 		            
18. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long position57,650,8035.07
Short position43,183,5093.80
19. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long position56,573,0034.97
Short position43,183,5093.80
20. Capacity in which interests disclosed in Box 19 are held:
Capacity codeNumber of shares
2201Interest of corporation controlled by you
Long position56,573,003
Short position43,183,509

21. Further information in respect of derivative interests:
Derivatives codeNumber of shares
4101Listed derivatives - Physically settled
Long position27,338,681
Short position11,925,370
4105Unlisted derivatives - Physically settled
Long position6,019,362
Short position0
4106Unlisted derivatives - Cash settled
Long position10,302,028
Short position16,308,585
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 position43,766,480
Short position36,172,544
Goldman Sachs (UK) L.L.C.Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USAThe Goldman Sachs Group, Inc.100.00N
Long position12,158,827
Short position6,390,965
Goldman Sachs Group UK LimitedPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGoldman Sachs (UK) L.L.C.100.00N
Long position12,158,827
Short position6,390,965
Goldman Sachs InternationalPlumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBRGoldman Sachs Group UK Limited100.00Y
Long position12,158,827
Short position6,390,965
Goldman Sachs Bank USA200 West Street, New York, NY 10282, USAThe Goldman Sachs Group, Inc.100.00N
Long position620,000
Short position620,000
Goldman Sachs Bank Europe SEMarienturm, Taunusanlage 9-10, Frankfurt am Main, 60329, DEUGoldman Sachs Bank USA100.00Y
Long position620,000
Short position620,000
GSAM Holdings LLC251 Little Falls Dr., Wilmington, DE 19808, USAThe Goldman Sachs Group, Inc.100.00N
Long position27,505
Short position0
Goldman Sachs Asset Management, L.P.Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USAGSAM Holdings LLC99.00Y
Long position27,505
Short position0
Folio Financial, Inc.8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USAThe Goldman Sachs Group, Inc.100.00N
Long position191
Short position0
Folio Investments, Inc.8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USAFolio Financial, Inc.100.00Y
Long position191
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: Ceased to have a notifiable interest in the shares of the listed corporation due to closing of OTC derivatives contract(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: 23/09/2026
(dd/mm/yyyy)