X0306 4 2021-06-22 0 0001506492 Nuwellis, Inc. NUWE 0001582015 AYOTTE NEIL P 12988 VALLEY VIEW ROAD EDEN PRAIRIE MN 55344 0 1 0 0 SVP, Secretary, GC & CCO Incentive Stock Option (right to buy) 3.98 2021-06-22 4 A 0 41690 0 A 2031-06-21 Common Stock 41690 41690 D The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant. /s/ Neil P. Ayotte 2021-06-23