SINOVAC Chairman Meets with Chilean President to Foster Bilateral Cooperation

The Company engages in dialogue exploring Chinese investment opportunities in Chile and greater global vaccine accessibility in the interest of human health

October 17, 2023, Beijing, China – Sinovac Biotech Ltd. ("SINOVAC" or the "Company") (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, today announced that SINOVAC’s Chairman, President and CEO, Mr. Weidong Yin, met with Chilean President Gabriel Boric yesterday during his first official visit to China.

As a participant in the "Opportunities in Chile" dialogue hosted by the Chilean Embassy in Beijing on October 16, Mr. Yin joined President Boric and other invited guests to explore opportunities for Chinese entrepreneurs and investment under China’s Belt and Road initiative.

"SINOVAC's mission is to supply vaccines to eliminate human diseases, with a strong commitment to advancing global vaccine accessibility and equity," said Mr. Yin. "Chile is a prime example of our collaborative efforts within the Belt and Road Initiative, where we have made substantial strides in scientific research, clinical trials and local vaccine production. We look forward to President Boric's visit fostering further opportunities for Chinese investments in Chile."

During the exchange, President Boric voiced his support of Chinese investment in Chile, saying he looked forward to continued growth in trade and cooperation between the two countries.

Shared Commitment to Protection Against Human Disease

Mr. Yin's productive talks with President Boric offer an extension of SINOVAC's current work with the Chilean government and organizations on research related to the management and control of infectious diseases, including studies on influenza and Zika.

SINOVAC is investing in local vaccine production capabilities and research facilities in Chile in response to the need to increase regional capacity for infectious disease prevention and control, as well as stronger pre-pandemic preparedness. The Company's market presence includes strong ties with the local ecosystem and a track record of collaboration with Chile's government and healthcare system. Support from the local industry and partners has laid the groundwork for the Company's investments that include the construction of a SINOVAC vaccine production facility in Chile.

History of Long-Standing Partnership

The partnership between SINOVAC and Chilean government began in 2020, as the COVID-19 pandemic was emerging. The pandemic prompted SINOVAC and Chilean scientific experts to explore joint research leveraging Chile's clinical research and data analysis capabilities, as well as the nation's robust healthcare monitoring system.

On July 7, 2021, the results of a real-world study on Chile's mass vaccination with CoronaVac^® were published online in the New England Journal of Medicine. These findings facilitated the widespread use of the vaccine in Chile, paved the way for its adoption in other Latin American countries and significantly contributed to the World Health Organization's positive evaluation of the vaccine.