X0206 3 2017-06-28 0 0001420565 AILERON THERAPEUTICS INC ALRN 0001656151 Shanafelt Armen C/O LILLY VENTURES 115 WEST WASHINGTON ST. SUITE 1680-SOUTH INDIANAPOLIS IN 46204 1 0 1 0 Series D Preferred Stock Common Stock 341238 I See Footnote Series E-2 Preferred Stock Common Stock 191946 I See Footnote Series E-3 Preferred Stock Common Stock 166489 I See Footnote Series F Preferred Stock Common Stock 145312 I See Footnote These shares are held directly by Lilly Ventures Fund I LLC, or LVFI. LV Management Group, LLC, or LVMG, is the management company for LVFI and as such may be deemed to indirectly beneficially own the shares held by LVFI. LVMG's voting and dispositive decisions with respect to the shares held by LVFI are made by LVMG's management committee, which includes the Reporting Person. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his respective proportionate pecuniary interest therein. The Series D Preferred Stock is convertible into Common Stock on a 9.937-for-one basis into the number of shares of Common Stock shown in column 3 at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The shares have no expiration date. The Series E-2 Preferred Stock is convertible into Common Stock on a 9.937-for-one basis into the number of shares of Common Stock shown in column 3 at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The shares have no expiration date. The Series E-3 Preferred Stock is convertible into Common Stock on a 9.937-for-one basis into the number of shares of Common Stock shown in column 3 at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The shares have no expiration date. The Series F Preferred Stock is convertible into Common Stock on a 9.937-for-one basis into the number of shares of Common Stock shown in column 3 at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The shares have no expiration date. /s/ Armen B. Shanafelt 2017-06-28