Oxford Science Enterprises plc - May 10, 2022 Form 4 Insider Report for PepGen Inc. (PEPG)

Role: 10%+ Owner
Signature: Oxford Science Enterprises plc, Name: James Wilkinson, Title: Director
Stock symbol: PEPG
Transactions as of: May 10, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/10/2022, 06:42 PM
Previous filing: May 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PEPG	Common Stock	Conversion of derivative security	$0	+1.26M	+1062.58%	$0.00	1.38M	May 10, 2022	Direct	F1
transaction	PEPG	Common Stock	Conversion of derivative security	$0	+946K	+68.45%	$0.00	2.33M	May 10, 2022	Direct	F1
transaction	PEPG	Common Stock	Conversion of derivative security	$0	+1.55M	+66.49%	$0.00	3.88M	May 10, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PEPG	Series A-1 Preferred stock	Conversion of derivative security	$0	-1.29M	-100%	$0.00^*	0	May 10, 2022	Common Stock	1.26M		Direct	F1
transaction	PEPG	Series A-2 Preferred stock	Conversion of derivative security	$0	-963K	-100%	$0.00^*	0	May 10, 2022	Common Stock	946K		Direct	F1
transaction	PEPG	Series B Preferred stock	Conversion of derivative security	$0	-1.58M	-100%	$0.00^*	0	May 10, 2022	Common Stock	1.55M		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 10, 2022, each share of Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock (collectively, the "Preferred Stock") converted into shares of Common Stock of the Issuer on a 1.018-for-1 basis without payment of further consideration upon closing of the initial public offering of the Issuer's Common Stock. The shares of Preferred Stock had no expiration date.