X0306 4 2020-09-25 0 0001534133 GRAYBUG VISION, INC. GRAY 0001055951 ORBIMED ADVISORS LLC 601 LEXINGTON AVENUE, 54TH FLOOR NEW YORK NY 10022 0 0 1 0 0001682115 OrbiMed Capital GP VI LLC 601 LEXINGTON AVENUE, 54TH FLOOR NEW YORK NY 10022 0 0 1 0 Common Stock 2020-09-25 4 P 0 562500 16.00 A 562500 I See footnote Common Stock 2020-09-29 4 C 0 3600847 A 4163347 I See footnote Series B Preferred Stock 2020-09-29 4 C 0 2754273 D Common Stock 2754273 0 I See footnote Series C Preferred Stock 2020-09-29 4 C 0 846574 D Common Stock 846574 0 I See footnote These securities are held of record by OrbiMed Private Investments VI, L.P. ("OPI VI"). OrbiMed Capital GP VI LLC ("GP VI") is the general partner of OPI VI, and OrbiMed Advisors LLC ("Advisors") is the managing member of GP VI. By virtue of such relationships, GP VI and Advisors may be deemed to have voting power and investment power over the securities held by OPI VI and as a result, may be deemed to have beneficial ownership over such securities. Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the shares held by OPI VI. Each share of the Issuer's Series B Preferred Stock and Series C Preferred Stock automatically converted into 1 share of the Issuer's Common Stock immediately prior to the closing of the Issuer's initial public offering for no additional consideration and has no expiration date. OrbiMed Advisors LLC; By /s/Douglas Coon, Chief Compl Ofcr. OrbiMed Capital GP VI LLC; By /s/Douglas Coon, Chief Compl Ofcr. 2020-09-29