Sep 29, 2022

Zai Lab Believes its Engagement of KPMG LLP is Consistent with PCAOB Requirements and Complies with the HFCAA

“Beginning with fiscal year 2022, Zai Lab engaged KPMG LLP as its lead auditor in May 2022. The process of transitioning our lead auditor from Deloitte-China to KPMG was a thorough process that took time to complete,” said Josh Smiley, Chief Operating Officer, Zai Lab. “The September 6, 2022, statement of Mr. Paul Munter, Acting Chief Accountant of the Public Company Accounting Oversight Board (PCAOB), outlined the process and considerations for engaging auditors in compliance with SEC and PCAOB requirements. At Zai, as a global biopharmaceutical company with a major presence in the U.S., including our executive management, all members of our Audit Committee, the majority of our Board of Directors, and where the financial information relevant to an audit of Zai Lab is located or available, Mr. Munter’s statement reflects the process and considerations that both Zai Lab and KPMG LLP undertook when engaging KPMG LLP to be its lead auditor for Zai Lab.”