Clarification on News Article by Economy Daily News

OBI Pharma Inc. to attend Investor Conference hosted by Masterlink Securities
March 5, 2020
Board of Directors approved the Company’s 2019 financial statement
March 13, 2020
  1. Date of occurrence of the event: Mar 12, 2020
  2. Company name: OBI Pharma Inc.
  3. Relationship to the Company (please enter “head office” or “subsidiaries”): Head office
  4. Reciprocal shareholding ratios: Not applicable
  5. Name of the reporting media: Economy Daily News, version C5 of Mar 12, 2020
  6. Content of the report: On Mar 11, OBI hosted an investor conference…OBI also authorized China subsidiary for negotiating international licensing. Total of 5 products, including OBI-833, are proceeding to Chinese market layout. Subsidiary is leading by former General Manager, Amy Huang, and former Chief Scientific Officer, Tony Yu, and currently has raised 20 million USD through cash capital increase, bringing in Chinese investors…
  7. Cause of occurrence: Clarification of news article
  8. Countermeasures: OBI Pharma (Shanghai) Limited has not raised 20 million USD through cash capital increase. Please refer to MOPS for all updates on research progress and financial fundraise.
  9. Any other matters that need to be specified: New drug development is a long process associated with high costs. It is not a guaranteed success, which may increase the risk of investment. Investors shall make prudent judgments and investments.