Sinovac Biotech Board Unanimously Rejects an Unsolicited Partial Tender Offer from Alternative Liquidity Index To Acquire up to 10M Shares of Sinovac Biotech for $0.03/Share in Cash

Sinovac Biotech Ltd. (NASDAQ:SVA) ("SINOVAC" or the "Company"), a leading provider of biopharmaceutical products in China, announced today that its Board of Directors (the "Board of Directors") unanimously determined that the partial tender offer (the "Tender Offer") by Alternative Liquidity Index LP ("Alternative Liquidity") to acquire up to 10,000,000 common shares of Sinovac (the "Shares") for $0.03 per share in cash (the "Offer Price") is NOT advisable and is NOT in the best interests of the Company or its shareholders ("Shareholders"). Accordingly, the Board of Directors recommends that the Shareholders reject the Tender Offer and not tender their Shares for purchase pursuant to the Offer to Purchase by Alternative Liquidity.