RA CAPITAL MANAGEMENT, L.P. - 24 Mar 2022 Form 3 Insider Report for AN2 Therapeutics, Inc. (ANTX)

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
holding	ANTX	Series B Preferred Stock							24 Mar 2022	Common Stock	1,699,998		See footnotes	F1, F2, F3
holding	ANTX	Series B Preferred Stock							24 Mar 2022	Common Stock	299,999		See footnote	F1, F3, F4

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

Id	Content
F1	Each share of Series B Preferred Stock is convertible at the option of the holder and will automatically convert into one share of Common Stock of the Issuer upon the closing of the Issuer's initial public offering. The Series B Preferred Stock has no expiration date.
F2	Shares held directly by RA Capital Healthcare Fund, L.P. (the "Fund").
F3	RA Capital Management, L.P. (the "Adviser") is the investment manager for the Fund and RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"). The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.
F4	Shares held directly by the Nexus Fund II.