Daewoong Co., Ltd - 21 Jan 2026 Form 3 Insider Report for AEON Biopharma, Inc. (AEON)

Role: 10%+ Owner
Signature: Daewoong Co., Ltd., By: /s/ Kyu Sung Lim, Authorized Signatory
Issuer symbol: AEON
Transactions as of: 21 Jan 2026
Net transactions value: $0
Form type: 3
Filing time: 29 Jan 2026, 21:25:12 UTC
Previous filing: 16 Apr 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Daewoong Co., Ltd	10%+ Owner	244, GALMACHI-RO, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA, REPUBLIC OF	Daewoong Co., Ltd., By: /s/ Kyu Sung Lim, Authorized Signatory	23 Jan 2026	0001985493

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AEON	Common Stock, $0.0001 par value per share						58,023	21 Jan 2026	Direct
holding	AEON	Common Stock, $0.0001 par value per share						11,951,714	21 Jan 2026	Indirect Beneficial Ownership in the 11,951,714 owned by Daewoong Pharmaceutical Co., Ltd	F1, F2, F3

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	AEON	Senior Secured Convertible Note							21 Jan 2026	Common Stock	$1,500,000		See footnote	F1, F2, F3
holding	AEON	Pre-Funded Warrants							21 Jan 2026	Common Stock	11,236,631	$0.000100	See footnote	F1, F2, F3, F4
holding	AEON	Common Stock Warrant							21 Jan 2026	Common Stock	8,000,000	$1.09	See footnote	F1, F2, F3, F5

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

Explanation of Responses:

Id	Content
F1	Daewoong Co., Ltd. ("DWC"), a company organized under the laws of the Republic of Korea, owns 52% of the outstanding shares of Daewoong Pharmaceutical Co., Ltd. ("DWP"), a company organized under the laws of the Republic of Korea; DWC has voting and dispositive power over the securities held by DWP and, therefore, may be deemed to beneficially own such securities indirectly.
F2	As previously disclosed on January 21, 2026, upon completion by AEON Biopharma Inc. (the "Company") of a bona-fide third-party financing for aggregate gross cash proceeds to the Company of at least $30.0 million (a "Qualified Financing"), the convertible notes shall automatically convert into a number of shares of Common Stock or Pre-Funded Warrants equal to: (i) one and three tenths (1.3) multiplied by (ii) the quotient of (a) the principal amount of the convertible notes and all accrued and unpaid interest to be converted divided by (b) the per share price of the common stock sold in the Qualified Financing, and warrants to purchase up to 8,000,000 shares of Common Stock at an exercise price of $1.09392 per share (the "Common Stock Warrant"), resulting in DWP beneficially owning more than 10% of the Issuer's outstanding Common Stock.
F3	(continued from footnote [2]). As a result, DWC beneficially owns an aggregate of (i) 12,009,737 shares of Common Stock (including shares previously held). In addition, DWP received (ii) the New Convertible Note in the principal amount of $1,500,000, (iii) the Pre-Funded Warrants to purchase up to 11,236,631 shares of Common Stock, and (iv) the Common Stock Warrant to purchase up to 8,000,000 shares of Common Stock. DWC may be deemed to beneficially own indirectly the securities described in clauses (ii) through (iv) held by DWP.
F4	The Pre-Funded Warrant is exercisable on or after the Original Issue Date and does not expire until exercised in full.
F5	The Common Stock Warrant is exercisable on or after the Initial Exercise Date and expires at 5:00 p.m. (New York City time) on the Termination Date, as defined in the form of warrant filed as Exhibit 4.2 to the Company's Form 8-K filed with the SEC on November 12, 2025.