X0306 4 2016-11-21 0 0001348911 KalVista Pharmaceuticals, Inc. KALV 0001185039 ALDRICH RICHARD C/O LONGWOOD CAPITAL PRUDENTIAL TOWER, 800 ROYLSTON STREET, S BOSTON MA 02199 1 0 0 0 Common Stock 2016-11-21 4 A 0 369419 A 369419 I By Longwood Fund II LP Received in exchange for 1,268,971 shares of KalVista Pharmaceuticals, Ltd. Series B Preferred Stock in connection with the closing of the share purchase transaction (the "Transaction") whereby KalVista Pharmaceuticals, Ltd. became a wholly-owned subsidiary of Carbylan Therapeutics, Inc., which changed its name to KalVista Pharmaceuticals, Inc. (the "Company"). On the effective date of the Transaction, the closing price of the Company's common stock was $9.38 per share. All numbers give effect to the 14:1 reverse stock split effected by the Company on November 21, 2016. Prior to the reverse stock split, the closing price of the Company's common stock was $0.67 per share. Longwood Fund II, LP, a Delaware limited partnership. Longwood Fund II GP, LLC (the "Fund II General Partner") is the general partner of Longwood Fund II, L.P. and exercises voting and investment power with respect to securities owned directly by Longwood Fund II, L.P. Longwood Fund II, L.P. is managed by Longwood Fund Management, LLC. Mr. Aldrich is a managing member of Longwood Fund Management LLC who disclaims beneficial ownership of the shares held by Longwood Fund II, L.P. except to the extent of his pecuniary interest therein. /s/ Richard Aldrich 2016-11-28