SCHEDULE 13G 0001702202 XXXXXXXX LIVE Common Stock 06/18/2025 0001671584 Aptevo Therapeutics Inc. 03835L504 2401 4th Avenue, Suite 1050 Seattle WA 98121 Rule 13d-1(c) L1 Capital Global Opportunities Master Fund, Ltd. E9 285000.00 0.00 285000.00 0.00 285000.00 N 9.95 FI Aptevo Therapeutics Inc. 2401 4th Avenue, Suite 1050, Seattle, WA 98121 L1 Capital Global Opportunities Master Fund, Ltd. 161A Shedden Road, 1 Artillery Court, PO Box 10085 Grand Cayman, Cayman Islands KY1-1001 Cayman Islands Y 285,000 The amounts in Row (5), (7) and (9) represent 285,000 shares of Common Stock. The amounts do not include 1,489,375 Warrants, 12,875 Pre-funded Warrants and 20,000 Warrants purchased on April 25, 2025, each of which are subject to a 4.99% beneficial ownership limitation. The percentage set forth on Row (11) of the cover page for the reporting person is based on 2,864,156 Common Stock outstanding immediately after the offering (assuming no exercise of the pre-funded warrants nor exercise of the common warrants), based on the Issuer's Prospectus filed under Rule 424(b)(4) with the Securities and Exchange Commission on June 20, 2025. David Feldman and Joel Arber are the Directors of L1 Capital Global Opportunities Master Fund, Ltd. As such, L1 Capital Global Opportunities Master Fund, Ltd., Mr. Feldman, and Mr. Arber may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the issuer's securities described herein. To the extent Mr. Feldman and Mr. Arber are deemed to beneficially own such securities, Mr. Feldman and Mr. Arber disclaim beneficial ownership of these securities for all other purposes. 9.95% 285,000 0 285,000 0 Y 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 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. L1 Capital Global Opportunities Master Fund, Ltd. /s/ David Feldman 06/23/2025