Unofficial English Translation of Working Capital Loan Contract, dated as of

PURSUANT TO ITEM 601(b)(10)(iv) OF REGULATION S-K, THIS EXHIBIT OMITS CERTAIN INFORMATION, IDENTIFIED BY [***], THAT IS NOT MATERIAL AND THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.

Whereas, the Borrower applies for a working capital loan limit from the Lender, and in order to clarify the rights and obligations of both parties, the Borrower and the Lender have reached a consensus through thorough negotiation and hereby concluded this contract.

“Loan limit” refers to the maximum amount of the loan balance (under the revolving limit) or the total loan amount (under the lump-sum limit) that the Lender may grant to the Borrower in accordance with this contract, which may be either a revolving limit or a lump-sum limit (which can be used only once or for multiple times) according to the contract.

“Revolving limit” means that the Borrower may apply for the use of the limit for multiple times in accordance with this contract to obtain a loan, but the balance of the loan shall not exceed the agreed limit.

“Lump-sum limit” means that the Borrower may apply for the use of the limit at one time or for multiple times in accordance with this contract to obtain a loan, but the total cumulative loan amount withdrawn shall not exceed the agreed limit.

“Loan balance” refers to the sum of the outstanding principal amount of the loan obtained by the Borrower under this contract.

“Limit balance” refers to the amount after deducting the loan balance (under the revolving limit) or the total loan amount (under the lump-sum limit) from the credit limit.

“Credit period” refers to the term for the Lender to grant the loan to the Borrower in accordance with the Borrower’s application and this contract, which is the period when the loan is incurred rather than the loan term.

“Loan term” refers to the term of each loan specified in the Application for Use of Loan Limit of Bank of Communications (hereinafter referred to as the “Application for Use of Loan Limit”).

“Pricing benchmark” means the value benchmark agreed between the Borrower and the Lender to determine the corresponding loan rate, including but not limited to the following specific pricing benchmarks and other types of pricing benchmarks.

“Loan Prime Rate (LPR)” refers to the loan prime rate applicable to RMB loans issued by the National Interbank Funding Center on the 20th of each month (postponed accordingly in case of holidays).

“Bank business days” and “business days” refer to the business days of the bank in the place where the Lender is located, excluding statutory holidays and days off (except for those when the bank is open due to holiday adjustment). If the date of performance of obligations such as the loan date, repayment date, interest payment date or maturity date falls on a non-bank business day, it shall be postponed to the next bank business day accordingly.

“Related person” refers to the Borrower’s authorized manager, agent, legal representative, person in charge, controlling shareholder or actual controller, beneficial owner and other directly or indirectly related persons.

The terms such as related party, related party transaction, and major individual investor have the same meaning as the same terms in the Accounting Standards for

Business Enterprises No. 36 - Related Party Disclosures (Cai Kuai [2006] No. 3) promulgated by the Ministry of Finance and subsequent revisions to the standards.

“ESG risks”: Environmental, social and governance risks.

“Corporate e-banking” refers to corporate e-banking channels such as corporate internet banking and corporate mobile banking systems of Bank of Communications.

2.1 When the Borrower needs to use the loan limit, it shall apply to the Lender at least 5 bank business days in advance. When making the application, the applicant should fill in and sign the Application for Use of Loan Limit in accordance with the format and requirements provided by the Lender, and use such limit after the application is reviewed and approved by the Lender.

3.1 Basic rules for determining interest rates

3.1.1 The annual interest rate (simple interest) of the loan under this contract shall be agreed in the “Application for Use of Loan Limit” after negotiation between both parties each time when using the limit; where the annual interest rate value is determined according to the pricing benchmarks, it shall be calculated by adding (subtracting) points according to the pricing benchmarks agreed in the “Application for Use of Loan Limit” (1 basis point being 0.01percent, and 1 percentage point being 100 basis points).

3.1.2 If it is agreed in the Application for Use of Loan Limit that the fixed interest rate shall be applied, with the specific value being recorded in the segment of fixed interest rate value, the specific interest rate of each loan shall be subject to the value recorded in the segment of fixed interest rate value in the Application for Use of Loan Limit (specifically, if the loan currency is RMB, the specific value shall be determined based on the pricing benchmark specific value (hereinafter referred to as the “pricing benchmark value”) applicable on the pricing benchmark date specified in the “Application for Use of Loan Limit”, and shall be determined according to the plus (minus) points value specified in the “Application for Use of Loan Limit”). Where a specific value is not recorded in the segment of the fixed interest rate value, the specific interest rate of each loan shall be determined on the basis of the pricing benchmark value applicable on the applicable date of the pricing benchmark agreed in

the Application for Use of Loan Limit, and shall be determined according to the plus (minus) points value agreed in the Application for Use of Loan Limit.

If it is agreed in the Application for Use of Loan Limit that a floating interest rate shall be applied, the specific interest rate of each loan shall be determined on the basis of the pricing benchmark value applicable to the applicable date of the pricing benchmark agreed in the Application for Use of Loan Limit in accordance with the plus (minus) points value, the interest rate floating rules, the interest rate floating period, the unit of the interest rate floating period and the floating start date of a specific date (if necessary) agreed in the Application for Use of Loan Limit.

3.1.3 If the currency is RMB, the daily interest rate = monthly interest rate / 30, monthly interest rate = annual interest rate / 12; If the currency is HKD, GBP, AUD or CAD, the daily interest rate = annual interest rate/365; If the currency is USD, EUR and JPY, the daily interest rate = annual interest rate / 360.

3.3 Adjustment of interest rates

3.3.1 Where it is specified in the “Application for Use of Loan Limit” that a fixed interest rate is applied, the loan will be executed at the recorded interest rate throughout the loan term.

3.3.2.1 During the loan period, the period of adjustment of the loan interest rate shall be calculated from the “loan entry date” or “floating start date for a specific date” according to the “floating since the date of loan entry” or “floating since a specific date” selected in the “interest rate floating rules”. Fill in the number of periods of interest rate floating in the empty column of interest rate floating period, and the unit of interest rate floating period can be selected daily or monthly. If the number of interest rate floating periods is set to “1” and the unit of floating period is “daily”, every day starting from the “loan entry date” or “floating start date for a specific date” will be the loan interest rate adjustment date. If the number of interest rate floating periods is set to “3” and the unit of floating period is “daily”, the loan interest rate will be adjusted on the day after 3 days starting from the “loan entry date” or “floating start date for a specific date”. If the number of interest rate floating periods is set to “1” and the unit of floating period is “monthly”, the loan interest rate adjustment date will be the day of each full month starting from the “loan entry date” or “floating start date for a specific date”. If the number of floating interest rate periods is set to “3” and the floating period unit is “monthly”, the loan interest rate will be

3.4 The penalty rate of overdue loans shall be increased by 30% according to the interest rate agreed herein, and the penalty rate of misappropriated loans shall be increased by 50% according to the interest rate agreed herein. If an adjustment of the loan pricing benchmark occurs for a floating rate loan, the Lender has the right to adjust the penalty rate applicable to each loan accordingly, and apply the new penalty rate from the date of loan interest rate adjustment agreed in the corresponding Application for Use of Loan Limit.

3.5 Calculation of Interest

3.5.1 Depending on different applicable pricing benchmarks, the pricing benchmark value applicable to the T day (i.e., the “pricing benchmark application Date”, “loan interest rate adjustment date” and “repricing date”) agreed in articles 3.2, 3.3.2.2 and 9.3.3.2 of this contract shall be as follows:

If the Loan Prime Rate (LPR) is applied as the pricing benchmark, the applicable pricing benchmark value on T day is the Loan Prime Rate (LPR) value most recently published before T date.

If the pricing benchmark value displayed on the page of the corresponding financial telecommunication terminal is greater than or equal to 0, the pricing benchmark value used to determine the loan interest rate under this contract shall be determined according to the actual pricing benchmark value displayed on the page of the corresponding financial telecommunication terminal; If the pricing benchmark value displayed on the page of the corresponding financial telecommunication terminal is less than 0, the pricing benchmark value used to determine the loan interest rate under this contract shall be 0.

3.5.2. Normal interest = the interest rate agreed herein × the amount of loan × number of days occupied.

The number of days occupied is calculated from the date of making the loan (inclusive) to the maturity date (exclusive), which is subject to extension if the maturity date is a non-business day, with the extension period being included in the days occupied. The interest during extension shall still be calculated according to this contract.

3.5.3. The penalty interest for overdue loans and misappropriated loans shall be calculated according to the amount overdue or misappropriated and the actual number of days (from the date of becoming overdue or being misappropriated (inclusive) to the date of repaying principal and interest (exclusive)).

3.5.4 In the event there are many decimal places after the decimal point for the calculated interest/penalty interest, , the Lender will round it to two decimal places.

4.1 If the loan disbursement account designated by the Borrower is a specialized loan disbursement account opened with the Lender, the disbursement and payment of the loan should be processed via such account. The account is only used for granting loan funds and making external payment, with the voucher of “Settlement Business Application” issued only, and it cannot be used to process checks, bills of exchange, bank acceptance bills and other transactions as well as other settlements. When the Borrower makes the payment and transfers the loan funds on its own, the procedure must be completed at the counter of the account opening branch. Interest on deposits in this account is credited to the Borrower’s repayment account.

4.2 When drawing down the loan in accordance with this contract, the Borrower shall specify the payment method (entrusting the Lender to pay or the Borrower paying on its own), and only one payment method can be used for each drawdown.

4.3 Entrusting the Lender to pay means that the Lender directly disburses the loan funds through the Borrower’s account to the borrower’s counterparty for the purposes agreed herein after the Lender disburses the loan in accordance with the Borrower’s Power of Attorney for Entrusted Payment.

Where the amount of a single payment exceeds the self-payment limit or meets one of the conditions agreed under Article 19.3, the entrusted loan payment method shall be adopted.*

When entrusting the Lender to pay, the Borrower shall submit to the Lender an application for the use of the limit, the corresponding power of attorney for entrusted payment, and other documents required by the Lender (including but not limited to

transaction documents such as business contracts, invoices and receipt documents), specifying the amount of the loan, the recipient and amount of payment, and the amount of the loan shall be equal to the total amount to be paid.

4.4 The Borrower’s paying on its own means that after the Lender disburses the loan funds to the Borrower’s account in accordance with this contract, the Borrower shall pay the Borrower’s counterparty(ies) that meets the purpose agreed herein.

If the Borrower pays on its own, it shall submit to the Lender an application for the use of the limit, instructions for the use of funds and other documents required by the Lender. The Borrower shall report the loan fund payment status to the Lender on a timely basis. The Lender has the right to verify whether the loan payment is aligned with the agreed purpose through account analysis, voucher inspection, on-site investigation and other methods, and the Borrower shall cooperate with the Lender on such verification.

5.1 The Borrower shall repay the loan principal and interest in full and on time according to the repayment date and amount recorded in this contract and the corresponding Application for Use of Loan Limit.

▲▲5.2 The Borrower shall not repay the Loan in advance without the written consent of the Lender (where the Lender shall not refuse or delay in giving such consent without justifiable reasons).

6.1 The Borrower is legally established and validly existing, with all necessary rights and the ability to fulfill the obligations of this contract and assume civil liability in its own name.

6.2 The signing and performance of this Contract represent true intention of the Borrower, which are subject to all necessary consents, approvals and authorizations, with no legal defects.

6.3 The Borrower operates legally and compliantly, has the ability to maintain “going concern” status, has a legitimate source of repayment, without any major ESG risks or major bad credit history. The Borrower’s senior management is free of any bad record.

6.4 All documents, statements, materials and information provided by the Borrower to the Lender in the course of signing and performing this contract are true, accurate, complete and valid, without hiding any information from the Lender that may affect the Lender’s financial position and ability to repay, and the Borrower’s financial position has not undergone any material adverse changes since the date of the latest financial statements. The borrowing matters comply with the requirements of laws and regulations.

6.7 Based on the ESG risks facing the industry where the Borrower is operating, if it falls in Class A or Class B customer category, the Borrower makes the following undertaking:

(1) The Borrower’s internal management documents related to ESG risks comply with the requirements of laws and regulations and are effectively implemented;

(2) the Borrower is not involved in any major litigation cases related to ESG risks;

(3) The Borrower’s conduct and performance related to ESG risks are compliant in material respects.

7.1 The Lender shall have the right to recover the principal and interest of the loan (including compound interest, penalty interest on overdue and misappropriated loans, and the like) in accordance with this contract, collect the fees payable by the Borrower, have the right to withdraw the loan in advance at its own discretion according to the Borrower’s fund withdrawal status, and exercise other rights stipulated by law or agreed in this contract.

8.1 The Borrower shall repay the principal of the loan and pay interest according to the time, amount, currency and interest rate agreed in this contract and the corresponding Application for Use of Loan Limit.

The Borrower’s designated fund withdrawal account is used to collect corresponding sales revenue or planned repayment funds. If the corresponding sales

revenue is settled in a non-cash manner, the Borrower should ensure that the funds are promptly transferred to the fund withdrawal account upon receipt of the payment The Borrower shall provide the fund’s inflow and outflow of the account as required by the Lender.

8.2 The Borrower shall use the loan limit for the purposes agreed in this contract and for the purposes determined in the corresponding Application for Use of Loan Limit, and shall not do the following: appropriating the loan for other purposes, re-lending the loan, using the loan as dividends to pay the Borrower’s shareholders and investment in financial assets, fixed assets, equity, etc.; using as other items such as bonuses and dividends paid by the Borrower, using to pay fines, using in areas and for purposes which are prohibited by China from production and operation, such as inflating fiscal revenues, adding hidden debts of local governments or incompliantly injecting into the real estate market.

The Borrower shall use the loan funds in accordance with the agreed method, and shall not evade the lender’s entrusted payment by dividing the loan into parts; Where the Borrower pays on its own, the Borrower shall use the loan within a reasonable time according to the requirements of the Lender’s regulator, and the loan funds shall be paid according to the provisions of this contract.

8.9 The Borrower warrants that the Borrower and its employees and agents will not provide, grant, solicit or accept any form of material benefits (including but not limited to cash, physical cards, travel, etc.) or other non-material benefits to or from the Lender or the Lender’s employees in any form; not to use the funds or services provided by the Lender in any form, directly or indirectly, for activities related to corruption or bribery; If it is aware of any violation of this article, the Borrower shall provide the Lender with clues and relevant information in a timely, truthful, complete and accurate manner, and cooperate with the Lender on relevant matters in accordance with the Lender’s requirements.

8.10 Depending on the ESG risks facing the industry where the Borrower operates, the Borrower shall assume the following obligations if it falls into Class A or Class B customer category:

(1) Establishing and improving the internal management system for ESG risks, and specifying the responsibilities, obligations and penalties of the relevant people in charge of the Borrower;

(2) Setting up emergency response mechanisms and measures for ESG risk emergencies;

(3) Establishing a dedicated department and/or designating dedicated personnel to be responsible for ESG risk matters;

(4) Cooperating with the Lender or its approved third party on the assessment and inspection of the Borrower’s ESG risk;

(5) Responding appropriately or taking other necessary actions when the public or other stakeholders strongly question the Borrower’s performance in ESG risk control;

(6) Supervising the Borrower’s crucial related parties to strengthen management to prevent the ESG risks of related parties from affecting the Borrower;

(7) Fulfilling other obligations that the Lender deems relevant to ESG risk control.

▲▲Article 9 Adjustment of Limit, Early Loan Maturity and Risk Repricing

9.3 According to the Borrower’s business situation at the time of entering into this contract, both parties have determined the interest rate and adjustment agreed in this contract after negotiation. The Borrower agrees that, in case of any “early maturity event”, the Lender shall have the right to reprice the risks of the loan in accordance with the provisions hereof.

9.3.1 Risk repricing includes negotiated repricing and direct increase of loan interest rate, and the risk repricing method adopted in this contract shall be agreed by both parties in Article 21.

9.3.2 “Negotiated repricing” means that the Lender has the right to require the Borrower to negotiate with the Lender to increase the loan interest rate within a limited time limit, and t both parties shall determine the “repricing date” and the specific agreement on the relevant interest rates by means of a supplementary agreement.

9.3.3 “Direct increase of loan interest rate” means that the Lender has the right to directly increase the loan interest rate in accordance with this Article and Article 21.

9.3.3.1 The increased loan interest rate shall be applied to each loan outstanding by the Borrower as of the “repricing date” from the “repricing date” notified by the Lender to the Borrower in writing.

9.3.3.2 If the loan currency is RMB, USD, EUR, HKD, JPY or GBP, the interest rate of each loan after the increase shall be determined according to the plus (minus) points agreed in Article 21.2.1 on the basis of the pricing benchmark value

applicable on the “repricing date”. The “repricing date” being the T day, the rules for determining the pricing benchmark value applicable on the T day shall be implemented in accordance with Article 3.5.1 hereof.

9.3.4 After the Lender conducts risk repricing in accordance with the foregoing article, the new interest rate shall be implemented from the “repricing date”. On the basis of this interest rate, the floating adjustment stipulated in Article 3 hereof still applies; where both parties agree to change the relevant agreement through negotiation, the agreement after the change shall apply. If the loan is overdue (including the Borrower’s failure to repay on time or the Lender’s announcing early maturity) or misappropriated, the penalty interest rate for overdue and misappropriation shall be determined on the basis of the new interest rate (including the interest rate after floating adjustment agreed in this contract), and the interest rate for calculating compound interest shall also be adjusted accordingly.

9.3.5 Conducting risk repricing shall not be deemed or construed as a waiver of the Lender’s other rights under laws and regulations and as agreed in this contract. The Lender shall have the right to take other measures to protect its creditor’s rights in accordance with laws and regulations and provisions in this contract, including but not limited to the measures stipulated in Article 9.2.

11.2 After the deduction and transfer of money, the Lender shall notify the Borrower of the account number, contract number, Application for Use of Loan Limit, the amount to be deducted and the balance of debt.

11.3 If the deducted money is insufficient to pay off all the debts of the Borrower, the debts to be repaid shall be determined in accordance with this contract.

11.4 Where the deducted and transferred amount is denominated in a currency different from that of the debts to be repaid, it shall be converted into the amount of the debts at the exchange rate announced by Bank of Communications Co., Ltd. at the time of deduction. Where going through the procedures of foreign exchange settlement and sale or foreign exchange is needed, the Borrower is obliged to assist the Lender in handling the procedures according to the requirements of the Lender, and shall bear the exchange rate risk.

(4) For deliveries made by fax, mobile phone, text or other electronic communication methods to the fax number, mobile phone number or email address and WeChat account provided by the Borrower, the date of service shall be the date of delivery. The aforesaid delivery means that the relevant information enters the server terminal of the service provider, rather than the relevant information being actually displayed on the customer’s terminal.

12.4 This article is an independent article of dispute resolution in the contract, of which the invalidity will not be affected when this contract is invalid, revoked or terminated.

This contract shall be governed by the laws of the People’s Republic of China (excluding the laws of Hong Kong, Macau and Taiwan for the purposes of this contract). Disputes under this contract shall be brought to the court of competent jurisdiction in the place where the Lender is located, unless otherwise agreed in this contract. During the dispute period, the parties shall continue to perform the terms that are not in dispute.

15.2 The Application for Use of Loan Limit supplements this contract. Unless otherwise agreed in the Application for Use of Loan Limit, the rights and obligations and related matters between the Borrower and the Lender shall still be implemented in accordance with the provisions hereof.

15.3 This contract and/or the “Application for Use of Loan Limit” and other relevant documents and materials that constitute a part of this contract can be signed in paper form or in the corporate e-banking system. If the Borrower opts to sign this contract and/or the Application for Use of Loan Limit and other relevant documents through corporate e-banking system, the Borrower shall open the corporate e-banking account as required by the Lender, submit an application for activating the corporate e-banking signing function, sign the relevant documents for activating the corporate e-banking signing function as required by the Lender, and designate an authorized person who has the authority to use the corporate e-banking signing function on behalf of the Borrower.

15.4 This contract shall come into force upon the signing by both parties. Where this contract is signed in paper form, signing refers to the legal representative (person in charge) or authorized representative of the Borrower signing (or sealing) the contract and affixing with the official seal, as well as the legal representative (person in charge) or authorized representative of the Lender signing (or sealing) the contract and affixing with the special seal of the contract; Where this contract is signed through corporate e-banking system, signing means that the Borrower fills in and confirms the relevant information in accordance with the prompts on the corporate e-banking interface and submits it with an electronic certificate, and the Lender completes the review and confirms the contract submitted by the Borrower, and signs the contract electronically with a digital certificate.

15.5 If the Lender’s special seal is the special seal used for the offshore credit business contract (or other special seal of the contract marked as “offshore”), the loan under this contract is an offshore business loan.

16.1 Currency of loan limit: RMB; amount in words: three hundred million yuan; It can be used in ☑ the currency of the limit □ the currency of the quota and other currencies accepted by the Lender; This limit is a ☑ revolving limit □ lump-sum limit (which can be used multiple times), □ lump-sum limit (which can be used once only).

16.2 Purpose of loan limit: turnover for operation.

16.3 The credit period starts from December 31, 2024 to September 26, 2025.

If the loan currency is that other than RMB, USD, EUR, HKD, JPY and GBP, the types of pricing benchmarks, the rules for calculating the daily interest rate, the rules for determining the applicable pricing benchmark value on the date of application of the pricing benchmark and the date of adjustment of the loan interest rate for the corresponding loan shall be as follows:

18.1 The Borrower designates the following account as the loan account, which □ is ☑ is not a special loan origination account opened by the Borrower with the Lender. If otherwise agreed in the corresponding Application for Use of Loan Limit, the agreement in the Application for Use of Loan Limit shall prevail.

Account Name: Zai Lab (Shanghai) Co., Ltd.

Account Number: [***]

Bank: Bank of Communications Co., Ltd. Shanghai Zhangjiang Sub-Branch

18.2 The Borrower designates that:

(1) The account for paying off the loan is

Account Name: Zai Lab (Shanghai) Co., Ltd.

Account Number: [***]

Bank: Bank of Communications Co., Ltd. Shanghai Zhangjiang Sub-Branch

(2) The account for fund withdrawal is:

Account Name: Zai Lab (Shanghai) Co., Ltd.

Account Number: [***]

Bank: Bank of Communications Co., Ltd. Shanghai Zhangjiang Sub-Branch

19.1 The term of each loan drawn down under this contract shall not exceed 12 ☑ months □ days and the maturity date of all loans shall be no later than March 26, 2026.

19.2 The limit for the Borrower paying the loan on its own under this contract is: ☑ RMB □ / (foreign currency) / ’000 yuan or equivalent in other currencies.

19.3 The Lender shall be entrusted to pay if one of the following conditions is met: /

19.4 If the Borrower pays on its own, the Borrower shall report the payment of the loan funds to the Lender within / days after the loan is disbursed.

20.1 The Borrower’s foreign investment is capped at RMB 1 billion; the limit of external guarantee is RMB 1 billion; the debt financing increase limit is RMB1.5 billion.

20.2 Contractual provisions on the financial indicators of the Borrower:

(1) /

(2) /

(3) /

20.3 Specific provisions on the rating of external agencies:

(1) /

(2) /

20.4 Specific provisions on the Borrower’s business qualifications/licenses:

(1) /

(2) /

The contact information for the Borrower to receive the notice under Article 12 includes:

Mailing address: 2nd Floor, Block A, Wison Building, Pudong New Area, Shanghai

Attn: Xiaopeng Feng

Zip code: 201210

Phone number: [***]

Mobile phone number: [***]

Fax: [***]

Email address: [***]

If this contract is signed in paper form, the original of this contract shall be executed in triplicate, and the contracting parties and the Guarantor (if any) shall each hold one copy.

24.1 Both parties agree that Article 13.3 □applies Rdoes not apply in this contract.

24.2 Depending on the ESG risks facing the industry where the Borrower operates, the Borrower R is □ is not a Class A or Class B customer.

Borrower: Zai Lab (Shanghai) Co., Ltd.

Legal representative (person in charge): YING DU

Legal address: 4/F, South Tower, Building 1, 4560 Jinke Road, China (Shanghai) Pilot Free Trade Zone

Lender: Bank of Communications Co., Ltd. Shanghai Zhangjiang Sub-Branch

Person in charge: Zhu Lei

Mailing address: 560 Songtao Road

(This is the signature page to the “Working Capital Loan Contract”, with no text below)