X0306 4 2020-09-29 0 0001534133 GRAYBUG VISION, INC. GRAY 0001824764 Keyoung Hansoo Michael C/O GRAYBUG VISION, INC. 275 SHORELINE DRIVE, SUITE 450 REDWOOD CITY CA 94065 1 0 0 0 Common Stock 2020-09-29 4 C 0 1133596 A 1133596 I See footnote Series C Preferred Stock 2020-09-29 4 C 0 1133596 D Common Stock 1133596 0 I See footnote Each share of the Issuer's 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. These securities are held of record by AffaMed Project Limited ("AffaMed"). Mengjiao Jiang and the Reporting Person are the directors of AffaMed and each of them may be deemed to hold shared voting and dispositive power with respect to the shares held by AffaMed. The Reporting Person disclaims beneficial ownership of the securities held by AffaMed except to the extent of his pecuniary interest therein, if any. /s/ Frederic Guerard, as Attorney-in-Fact for Hansoo Michael Keyoung 2020-09-29