Grant of Share Options under Share Option Scheme and Awards under Long Term Incentive Plan

Hong Kong, Shanghai, & Florham Park, NJ: Tuesday, August 6, 2024: HUTCHMED (China) Limited ("HUTCHMED" or the "Company") (Nasdaq/AIM: HCM; HKEX: 13) announces that on August 5, 2024, it granted share options ("Share Options") under the Share Option Scheme adopted by HUTCHMED in 2015 (the "Share Option Scheme") and awards ("LTIP Awards") under the Long Term Incentive Plan adopted by HUTCHMED in 2015 ("LTIP").   

Aimed at attracting and retaining top talent, the Remuneration Committee of HUTCHMED appointed an independent advisor to conduct compensation benchmarking research on a selected peer group of companies. As a result of this the Remuneration Committee has comprehensively reviewed the compensation and share-based incentives policies of HUTCHMED and its subsidiaries (the "Group") and established an attractive policy to ensure the Group is able to recruit and retain top talent. In line with this review HUTCHMED has decided to make the following grant of Share Options and LTIP Awards.

1. Performance Related Share Options

HUTCHMED granted Share Options subject to the Performance Targets (defined below) under its Share Option Scheme to Dr Weiguo Su (Executive Director, Chief Executive Officer and Chief Scientific Officer), being a person discharging managerial responsibility ("PDMR") under the UK Market Abuse Regulation to subscribe for a total of 1,405,767 ordinary shares with par value US$0.10 each in the share capital of the Company ("Ordinary Shares") subject to the acceptance of the grantee.  Details of such Share Options granted are as follows:

2. Non-performance Related Share Options

HUTCHMED granted share options under its Share Option Scheme to an employee to subscribe for a total of 200,000 Ordinary Shares subject to the acceptance of the grantee.  Details of such share options granted are as follows:

After the above grant of Share Options, the number of Share Options available for future grant under the scheme mandate of the Share Option Scheme is 11,422,590.

3. Performance-related LTIP Award ("Performance LTIP Award") - award based on a maximum cash amount, which amount is determined by the achievement of performance targets for the financial years ending December 31, 2024, 2025 and 2026.  The performance targets are determined by the Remuneration Committee of HUTCHMED based on the strategic objectives of HUTCHMED.

The shares, to be purchased by the trustee following determination of the cash amount based on actual achievement of performance targets, will then be held by the trustee until the related underlying LTIP Awards are vested.  Vesting will occur three weeks after the date of completion of the share purchase for the awards for the financial year ending December 31, 2026.  Vesting will also depend upon the continued employment of the award holder with the Group and will otherwise be at the discretion of the Board of Directors of HUTCHMED.

HUTCHMED granted the following Performance LTIP Awards to the following Executive Director, being a PDMR under the UK Market Abuse Regulation:

An additional 133 employees of the Group have simultaneously been granted Performance LTIP Awards.

4. Non-performance-related LTIP Award ("Non-performance LTIP Award") - a one-off cash amount was granted to each grantee and will be used by the trustee administering the LTIP (the "Trustee") to purchase Ordinary Shares in HUTCHMED which will be subject to a vesting schedule over two years.  HUTCHMED granted Non-performance LTIP Award to an employee of the Group. No performance targets are attached to the option granted. The Remuneration Committee of the Company is of the view that the non-performance related Share Options aims to attract a key talent to join the management team of the Company and align with the purpose of the LTIP.

The notification in respect of share options granted to Dr Su in accordance with the requirements of the UK Market Abuse Regulation is set out below.

Dr Weiguo Su

About HUTCHMED

HUTCHMED (Nasdaq/AIM:​HCM; HKEX:​13) is an innovative, commercial-stage, biopharmaceutical company. It is committed to the discovery, global development and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases. It has approximately 5,000 personnel across all its companies, at the center of which is a team of about 1,800 in oncology/​immunology. Since inception it has focused on bringing cancer drug candidates from in-house discovery to patients around the world, with its first three oncology medicines marketed in China, the first of which is also marketed in the US. For more information, please visit: www.hutch‑med.com or follow us on LinkedIn.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. For further discussion of these and other risks, see HUTCHMED's filings with the US Securities and Exchange Commission, on AIM and on HKEX. HUTCHMED undertakes no obligation to update or revise the information contained in this announcement, whether as a result of new information, future events or circumstances or otherwise.

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