XBIO · Xenetic Biosciences, Inc.

This represents a restricted stock grant ("RSG"). The shares represented by the RSG will vest and become exercisable as follows: 7,000 shares shall vest on the date of grant and one-third of the remaining (93,000) shares shall vest on each of the first, second and third anniversaries of April 21, 2026.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The shares underlying the options will vest and become exercisable as follows: one-fourth of the shares shall vest on the date of grant and one-fourth of the shares shall vest on each of the first, second and third anniversaries of June 18, 2024 ending on June 18, 2027.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of December 11, 2023; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on March 11, 2025 and ending on December 11, 2026.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of December 11, 2023; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on March 11, 2025 and ending on December 11, 2026.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of December 11, 2023; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on March 11, 2025 and ending on December 11, 2026.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 24, 2022; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 24, 2023 and ending on March 24, 2025.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 24, 2022; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 24, 2023 and ending on March 24, 2025.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 24, 2022; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 24, 2023 and ending on March 24, 2025.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 18, 2021; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 18, 2022 and ending on March 18, 2024.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 18, 2021; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 18, 2022 and ending on March 18, 2024.

The shares underlying the options will vest and become exercisable as follows: one-third of the shares shall vest on the first anniversary of March 18, 2021; the remaining two-thirds of the shares shall vest in eight equal quarterly installments commencing on June 18, 2022 and ending on March 18, 2024.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.

The Options vest 100% on the twelve-month anniversary of the grant date.