X0306 4 2022-03-10 0 0001534120 Avalo Therapeutics, Inc. AVTX 0001601086 ARMISTICE CAPITAL, LLC 510 MADISON AVENUE, 7TH FLOOR NEW YORK NY 10022 1 0 1 0 0001633584 Armistice Capital Master Fund Ltd. 510 MADISON AVENUE 7TH FLOOR NEW YORK NY 10022 1 0 1 0 0001706140 Boyd Steven 510 MADISON AVENUE 7TH FLOOR NEW YORK NY 10022 1 0 1 0 Common Stock 2022-03-10 4 P 0 26000 0.701 A 47376000 I See Footnote Common Stock 2022-03-11 4 P 0 100000 0.6878 A 47476000 I See Footnote Common Stock 2022-03-14 4 P 0 100000 0.6494 A 47576000 I See Footnote Common Stock 412442 D The reported securities of Avalo Therapeutics, Inc. (the "Issuer") are directly held by Armistice Capital Master Fund Ltd., a Cayman Islands exempted company (the "Master Fund"), and may be deemed to be indirectly beneficially owned by: (i) Armistice Capital, LLC ("Armistice Capital"), as the investment manager of the Master Fund; and (ii) Steven Boyd, as the Managing Member of Armistice Capital ("Mr. Boyd", and collectively with the Master Fund and Armistice Capital, the "Reporting Persons"). Each of Armistice Capital and Mr. Boyd disclaim beneficial ownership of the reported securities except to the extent of their respective pecuniary interests therein, and this report shall not be deemed an admission that either of them are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. These shares are directly owned by Mr. Boyd in his personal capacity. Each of the Master Fund and Armistice Capital may be deemed a director by deputization of the Issuer by virtue of the fact that Steven Boyd, a representative of the Master Fund and Armistice Capital, currently serves on the Issuer's board of directors. ARMISTICE CAPITAL, LLC, Name: /s/ Steven Boyd, Title: Managing Member 2022-03-14 ARMISTICE CAPITAL MASTER FUND LTD, Name: /s/ Steven Boyd, Title: Director 2022-03-14 STEVEN BOYD, Name: /s/ Steven Boyd 2022-03-14