X0206 3 2019-09-12 0 0001692830 Satsuma Pharmaceuticals, Inc. STSA 0001619841 Shah Rajeev M. C/O RA CAPITAL MANAGEMENT, LLC 200 BERKELEY STREET, 18TH FLOOR BOSTON MA 02116 1 0 1 0 Series A Preferred Stock 0.00 Common Stock 1642879 I See Footnote Series A Preferred Stock 0.00 Common Stock 365530 I See Footnote Series B Preferred Stock 0.00 Common Stock 1139635 I See Footnote Series B Preferred Stock 0.00 Common Stock 200481 I See Footnote Each share of Series A Preferred Stock and Series B Preferred Stock automatically converts into shares of issuer's Common Stock on a 1:1 basis immediately prior to the consummation of Issuer's initial public offering and has no expiration date. Reflects a 1-for-4.7 reverse stock split effective upon the effectiveness of the registration statement for the Issuer's initial public offering. Represents shares held by RA Capital Healthcare Fund, L.P. ("RA Capital Fund"). Represents shares held by an account owned by a separately managed account (the "Account"). RA Capital Management, LLC (the "Advisor") is the general partner of RA Capital Fund and the investment advisor of the Account. Peter Kolchinsky is the sole manager of the Advisor, and Mr. Shah is a member of the Advisor. Mr. Shah has no pecuniary interest in the reported securities held by the Account and therefore disclaims beneficial ownership of those securities. Mr. Shah disclaims beneficial ownership of the reported securities held by RA Capital Fund except to the extent of his pecuniary interest therein. /s/ Thomas P. O'Neil as Attorney in Fact for Rajeev M. Shah 2019-09-12