Company: HCWB
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001193125-25-032115
Chunk: 9

Company: HCW Biologics Inc.
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 9
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 on Proposal One, Proposal Two or Proposal Three. |

A broker non-voteoccurs when the beneficial owner of shares fails to provide the broker, bank or other nominee that holds the shares with specific instructions on how to vote on any “non-routine”matters brought to a vote at the stockholders meeting. In this situation, the broker, bank or other nominee will not vote on the “non-routine”matter. Broker non-votesare counted for purposes of determining whether a quorum is present and have no effect on the outcome of the matters voted upon. Note that if you are a beneficial holder, brokers and other nominees will be entitled to vote your shares on “routine” matters without instructions from you. The only proposal that would be considered “routine” in such event is the proposal for Reverse Stock Split Proposal (Proposal One). A broker or other nominee will not be entitled to vote your shares on any “non-routine”matters, absent instructions from you. “Non-routine”matters include proposals other than Proposal One, such as the ELOC Proposal and the Note Conversion Proposal. Accordingly, we encourage you to provide voting instructions to your broker or other nominee, regardless of whether or not you plan to attend the meeting. 4

| Q: | What is the vote required for each proposal? |

| A: | The votes required to approve each proposal are as follows: |

| • |     | Proposal One: Approval will be obtained if the number of votes cast “FOR” the proposal at the Special 
 Meeting exceeds the number of votes “AGAINST” the proposal.                                           |

| • |     | Proposal Two: Approval will be obtained if the number of votes cast “FOR” the proposal at the Special 
 Meeting exceeds the number of votes “AGAINST” the proposal.                                           |

| • |     | Proposal Three: Approval will be obtained if the number of votes cast “FOR” the proposal at the Special 
 Meeting exceeds the number of votes “AGAINST” the proposal.                                             |

| Q: | If I submit a proxy, how will it be voted? |

| A: | When proxies are properly dated, executed and returned, the shares represented by such proxies will be voted at                                                                                                                                       
 the Special Meeting in accordance with the instructions of the stockholder. If no specific instructions are given, the shares will be voted in accordance with the recommendations of our board of directors as described above. If any matters not   
 described in the Proxy Statement are properly presented at the Special Meeting