Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 98

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 98
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 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 complete and
accurate. In that regard, Leerink Partners was advised by Aadi, and Leerink Partners assumed, at Aadi’s direction, that the Internal Data (including, without limitation, the Aadi Projections) were reasonably prepared on bases reflecting the
best currently available estimates and judgments of the management of Aadi as to the matters covered thereby and Leerink Partners relied, at Aadi’s direction, on the Internal Data for purposes of its analysis and its opinion. Leerink Partners
expressed no view or opinion as to the Internal Data (including, without limitation, the Aadi Projections) or the assumptions on which the Internal Data was based. In addition, at Aadi’s direction, Leerink Partners did not make any independent
evaluation or appraisal of any of the assets or liabilities (contingent, derivative, off-balance-sheet or otherwise) of Aadi, Aadi Sub or Kaken, nor was Leerink Partners furnished with any such evaluation or
appraisal, and Leerink Partners was not asked to conduct, and did not conduct, a physical inspection of the properties or assets of Aadi, Aadi Sub or Kaken.

Leerink Partners assumed, at Aadi’s direction, that the final executed Divestiture Agreement would not differ in any respect material to
Leerink Partners’ analysis or its opinion from the last version of the Divestiture Agreement reviewed by Leerink Partners. Furthermore, Leerink Partners assumed, at Aadi’s direction, that the Divestiture would be consummated on the terms
set forth in the Divestiture Agreement and in accordance with all applicable laws and other relevant documents or requirements, without delay or the waiver, modification or amendment of any term, condition or agreement, the effect of which would be