X0306 4 2020-10-09 0 0001744659 Akero Therapeutics, Inc. AKRO 0001591747 Bitterman Kevin C/O AKERO THERAPEUTICS, INC., 170 HARBOR WAY, 3RD FLOOR SOUTH SAN FRANCISCO CA 94080 1 0 0 0 Common Stock 2020-10-09 4 S 0 13000 28.93 D 11780 I See footnote Common Stock 804 I See footnote Common Stock 2206412 I See footnote Common Stock 304079 I See footnote The shares reported herein give effect to the pro rata distribution of shares by AVF XI and AVO I (each, as defined below) for no additional consideration to their respective limited and general partners, including AVA XI LP and AVAO LP (each, as defined below). As the distributions of such shares constituted only a change in the form of the Reporting Person's indirect ownership in such shares, the Reporting Person was not required to report these distributions pursuant to Section 16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.50 to $29.30 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares are owned directly by Atlas Venture Associates XI, LP ("AVA XI LP"). Atlas Venture Associates XI, LLC ("AVA XI LLC") is the general partner of AVA XI LP. The Reporting Person is a member of AVA XI LLC and disclaims Section 16 beneficial ownership of the securities, except to the extent of his pecuniary interest therein, if any. These shares are owned directly by Atlas Venture Associates Opportunity I, LP ("AVAO LP"). Atlas Venture Associates Opportunity I, LLC ("AVAO LLC") is the general partner of AVAO LP. The Reporting Person is a member of AVAO LLC and disclaims Section 16 beneficial ownership of the securities, except to the extent of his pecuniary interest therein, if any. These shares are owned directly by Atlas Venture Fund XI, L.P. ("AVF XI"). AVA XI LP is the general partner of AVF XI. AVA XI LLC is the general partner of AVA XI LP. The Reporting Person is a member of AVA XI LLC and disclaims Section 16 beneficial ownership of the securities held by AVF XI, except to the extent of his pecuniary interest therein, if any. These shares are owned directly by Atlas Venture Opportunity Fund I, L.P. ("AVO I"). AVAO LP is the general partner of AVO I. AVAO LLC is the general partner of AVAO LP. The Reporting Person is a member of AVAO LLC and disclaims Section 16 beneficial ownership of the securities held by AVO I, except to the extent of his pecuniary interest therein, if any. /s/ Kevin Bitterman 2020-10-14