Walvax Biotechnology delays board re-election to optimize governance

Walvax Biotechnology's fifth board of directors and supervisory board, originally set to conclude their terms on October 12, 2025, will see their re-election delayed. This decision comes as the company prepares for the re-election of a new board and plans to revise its "Articles of Association" to further optimize its corporate governance structure, in accordance with newly revised company law and related transitional arrangements.

The postponement aims to ensure a smooth transition of the governance structure and maintain the continuity and stability of the board's operations. Consequently, the terms of the company's specialized committees of the board and senior management will also be extended. During this interim period, all members of the fifth board, supervisory board, and senior management will continue to fulfill their duties and obligations as per relevant laws and regulations.

Walvax Biotechnology assures stakeholders that the delayed re-election will not impact the company's normal production and operations. The company is committed to expediting the revision of its "Articles of Association," conducting the re-election process, and actively advancing the transition work, while adhering to timely information disclosure requirements.