X0206 3 2019-09-12 0 0001692830 Satsuma Pharmaceuticals, Inc. STSA 0001632295 Sandoval Elisabeth C/O SATSUMA PHARMACEUTICALS, INC. 400 OYSTER POINT BOULEVARD, SUITE 221 SOUTH SAN FRANCISCO CA 94080 1 0 0 0 Stock Option (Right to Buy) 4.56 2029-05-23 Common Stock 14893 D Reflects a 1-for-4.7 reverse stock split effective upon the effectiveness of the registration statement for the Issuer's initial public offering. A portion of the shares underlying this option are vested and exercisable as of the date hereof. The original vesting schedule is as follows: The underlying shares subject to the option vest and become exercisable in successive, equal monthly installments over two years measured from May 22, 2019, subject to Reporting Person's continued service relationship with the Issuer on each such vesting date. /s/ Thomas P. O'Neil as Attorney in Fact for Elisabeth Sandoval 2019-09-12