X0306 4 2019-05-13 0 0001408443 Milestone Pharmaceuticals Inc. MIST 0001388325 Novo Holdings A/S TUBORG HAVNEVEJ 19 HELLERUP G7 2900 DENMARK 0 0 1 0 COMMON SHARES 2019-05-13 4 M 0 1377048 0.00 A 1377048 D COMMON SHARES 2019-05-13 4 M 0 964089 0.00 A 2341137 D COMMON SHARES 2019-05-13 4 P 0 333333 15.00 A 2674470 D CLASS C PREFERRED SHARES 2019-05-13 4 M 0 1377048 0.00 D COMMON SHARES 1377048 0 D CLASS D PREFERRED SHARES 2019-05-13 4 M 0 964089 0.00 D COMMON SHARES 964089 0 D Each Class C Preferred share and Class D Preferred share automatically converted into one Common share upon the completion of the initial public offering. Novo Holdings A/S is a Danish limited liability company. The board of directors of Novo Holdings A/S (the "Novo Board") has shared investment and voting control over the securities of the Issuer held by Novo Holdings A/S (the "Shares") and may exercise such control only with the support of a majority of the Novo Board. As such, no individual member of the Novo Board is deemed to hold any beneficial ownership or reportable pecuniary interest in the Shares. /s/Peter Haahr, Chief Financial Officer of Novo Holdings A/S 2019-05-14