Company: WHWK
Filing Date: 2025-01-21
Form Type: PREM14A
Source: 0001193125-25-009599
Chunk: 99

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-21
Form: PREM14A
Chunk 99
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 be paid to Aadi pursuant to the terms of the Divestiture Agreement. The opinion of Leerink Partners did not address any other term or aspect of the Divestiture Agreement or the Divestiture and does not constitute a recommendation to any stockholder of Aadi as to whether or how such holder should vote with respect to the Divestiture or otherwise act with respect to the Divestiture or any other matter. The full text of the written opinion of Leerink Partners should be read carefully in its entirety for a description of the assumptions made and the qualifications and limitations upon the review undertaken by Leerink Partners in preparing its opinion. In connection with rendering the opinion described above and performing its related financial analyses, Leerink Partners reviewed, among other things:

| • |     | certain Current Reports on Form 8-K, as filed by Aadi with, or furnished 
 by Aadi to, the SEC; and                                                 |

| • |     | certain internal information relating to the business, operations, earnings, cash flow, assets, liabilities and                                                                                                                             
 prospects of Aadi, including certain financial forecasts related to Aadi Sub, as furnished to Leerink Partners by the management of Aadi for purposes of Leerink Partners’ analysis and approved for use by Leerink Partners by Aadi, which 
 financial forecasts are described above under “The Divestiture – Certain Unaudited Prospective Financial Information” and referred to in this summary of the opinion of Leerink Partners as the “Aadi Projections”, and                     
 which are collectively referred to in this summary of the opinion of Leerink Partners as the “Internal Data.”                                                                                                                               |

Leerink Partners also conducted discussions with members of the senior management of Aadi and its advisors and representatives regarding the Internal Data as well as the past and current business, operations, financial - 63 -

condition and prospects of Aadi Sub. In addition, Leerink Partners compared certain of the proposed terms of the Divestiture to the financial terms, to the extent publicly available, of certain
other transactions that Leerink Partners deemed relevant. Leerink Partners also conducted such other financial studies and analyses and took into account such other information as Leerink Partners deemed appropriate.

Leerink Partners assumed, without independent verification or any responsibility therefor, the accuracy and completeness of the financial,
legal, regulatory, tax, accounting and other information supplied to, discussed with, or reviewed by Leerink Partners for purposes of its opinion and, with Aadi’s consent, Leerink Partners relied upon such information as being