FORM 2 - Corporate Substantial Shareholder Notice
Form Serial Number
:
CS20260925E00358
1.
Date of relevant event
:
22/09/2026
(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
1013
You first acquire a notifiable interest because:
any other event (you must briefly describe the relevant event in the Supplementary Information box)
2201
Interest of corporation controlled by you
6,973,762
Short position
1402
You came to have a short position of 1% or more in the shares, or the percentage level of your short position in such shares increased because:
you borrowed the shares under a securities borrowing and lending agreement
2201
Interest of corporation controlled by you
6,000,000
18.
Total shares immediately before the relevant event
:
Total number of shares
Percentage figure (%)
Long position
55,502,324
4.88
Short position
42,888,619
3.77
19.
Total shares immediately after the relevant event
:
Total number of shares
Percentage figure (%)
Long position
62,476,086
5.49
Short position
48,888,619
4.30
20.
Capacity in which interests disclosed in Box 19 are held
:
Capacity code
Number of shares
2201
Interest of corporation controlled by you
Long position
62,476,086
Short position
48,888,619
21.
Further information in respect of derivative interests
:
Derivatives code
Number of shares
4101
Listed derivatives - Physically settled
Long position
27,235,042
Short position
11,811,170
4105
Unlisted derivatives - Physically settled
Long position
5,800,326
Short position
0
4106
Unlisted derivatives - Cash settled
Long position
8,484,286
Short position
16,127,895
22.
Further information in relation to interests of corporations controlled by substantial shareholder
:
Name of controlled corporation
Address and place of incorporation
Name of controlling person
% control
Direct interest (Y/N)
Number of shares
Goldman Sachs & Co. LLC
200 West Street, New York, NY 10282, USA
The Goldman Sachs Group, Inc.
100.00
Y
Long position
49,596,030
Short position
42,058,354
Goldman Sachs (UK) L.L.C.
Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA
The Goldman Sachs Group, Inc.
100.00
N
Long position
12,232,369
Short position
6,210,265
Goldman Sachs Group UK Limited
Plumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBR
Goldman Sachs (UK) L.L.C.
100.00
N
Long position
12,232,369
Short position
6,210,265
Goldman Sachs International
Plumtree Court, 25 Shoe Lane, London, EC4A 4AU, GBR
Goldman Sachs Group UK Limited
100.00
Y
Long position
12,232,369
Short position
6,210,265
Goldman Sachs Bank USA
200 West Street, New York, NY 10282, USA
The Goldman Sachs Group, Inc.
100.00
N
Long position
620,000
Short position
620,000
Goldman Sachs Bank Europe SE
Marienturm, Taunusanlage 9-10, Frankfurt am Main, 60329, DEU
Goldman Sachs Bank USA
100.00
Y
Long position
620,000
Short position
620,000
GSAM Holdings LLC
251 Little Falls Dr., Wilmington, DE 19808, USA
The Goldman Sachs Group, Inc.
100.00
N
Long position
27,505
Short position
0
Goldman Sachs Asset Management, L.P.
Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA
GSAM Holdings LLC
99.00
Y
Long position
27,505
Short position
0
Folio Financial, Inc.
8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USA
The Goldman Sachs Group, Inc.
100.00
N
Long position
182
Short position
0
Folio Investments, Inc.
8180 Greensboro Drive, 8th Floor, McLean, VA 22102, USA
Folio Financial, Inc.
100.00
Y
Long position
182
Short position
0
23.
Further information in relation to interests held by substantial shareholder jointly with another person
:
Name of joint shareholder
Address
Number of shares
24.
Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust
:
Names of trust
Address
Status code
Number of shares
25.
Further information from a party to an agreement under Section 317 (Please see Notes for further information required)
:
Names of other parties
Address
Number 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
:
Names
Address
Relationship Code
Percentage (%)
27.
Supplementary information
:
The percentage level of our interest in the shares has increased due to an increase in the relevant borrow positions.
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
:
25/09/2026
(dd/mm/yyyy)