Summit Therapeutics Reports Incentive Grants Pursuant to Nasdaq Listing Rule 5635(c)(4) Page 1

Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we” or the “Company”) today announced the grant of incentive awards in the form of options to purchase up to an aggregate of 102,000 shares of its common stock. The awards were granted to five new employees of the Company. The awards were granted as an incentive to new employees who become employees of the Company pursuant to Nasdaq Listing Rule 5635(c)(4) and were approved by the Company's Compensation Committee. The incentive awards were granted on September 4, 2024. The options have a term of ten (10) years and an exercise price of $12.00 per share, the closing price per share of the Company's common stock as reported by Nasdaq on September 4, 2024. The options were granted from a pool of equity incentives reserved by the Compensation Committee on May 3, 2024 for issuance as an incentive to new employees in accordance with Nasdaq Listing Rule 5635(c)(4).

The options granted to the recipients are subject to vesting in equal annual installments over a period of four years. The options granted are subject to the terms of a stock option agreement that must be signed by the recipient of the grant.