SCHEDULE 13G 0001596468 XXXXXXXX LIVE Common Stock and Warrants 12/31/2025 0001880438 AN2 Therapeutics, Inc. 037326105 1300 EL CAMINO REAL, SUITE 100 MENLO PARK CA 94025 Rule 13d-1(b) Almitas Capital LLC DE 2975164.00 0.00 2975164.00 0.00 2975164.00 5.4 IA AN2 Therapeutics, Inc. 1300 EL CAMINO REAL, SUITE 100, MENLO PARK, CALIFORNIA, 94025. Almitas Capital, LLC 1900 MARKET STREET, SUITE 200, PHILADELPHIA, PENNSYLVANIA, 19103. Delaware N IA 2,975,164 5.39% 2,975,164 0 2,975,164 0 Y N Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Almitas Capital LLC Ronald Mass 02/13/2026