X0306 4 2019-09-17 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 Common Stock, $0.0001 par value 2019-09-17 4 C 0 1642879 A 1642879 I See FN Common Stock, $0.0001 par value 2019-09-17 4 C 0 1139635 A 2782514 I See FN Common Stock, $0.0001 par value 2019-09-17 4 C 0 365530 A 3148044 I See FN Common Stock, $0.0001 par value 2019-09-17 4 C 0 200481 A 3348525 I See FN Common Stock, $0.0001 par value 2019-09-17 4 P 0 1140946 15.00 A 4489471 I See FN Common Stock, $0.0001 par value 2019-09-17 4 P 0 192387 15.00 A 4681858 I See FN Series A Preferred Stock 2019-09-17 4 C 0 1642879 D Common Stock 1642879 0 I See FN Series A Preferred Stock 2019-09-17 4 C 0 365530 D Common Stock 365530 0 I See FN Series B Preferred Stock 2019-09-17 4 C 0 1139635 D Common Stock 1139635 0 I See FN Series B Preferred Stock 2019-09-17 4 C 0 200481 D Common Stock 200481 0 I See FN Reflects a 1-for-4.7 reverse stock split effective upon the effectiveness of the registration statement for the Issuer's initial public offering. Each share of Series A Preferred Stock and Series B Preferred Stock automatically converted into shares of Issuer's Common Stock, for no additional consideration, on a 1:1 basis at the consummation of Issuer's initial public offering. RA Capital Management, LLC (the "Advisor") is the general partner of RA Capital Healthcare Fund, L.P.("RA Capital Fund") and the investment advisor of an account owned by a separately managed account (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. Represents shares held by RA Capital Fund. RA Capital Fund purchased an additional 1,140,946 shares of issuer's common stock in connection with the initial public offering at the offering price of $15.00 per share. Represents shares held by the Account. The Account purchased an additional 192,387 shares of issuer's common stock in connection with the initial public offering at the offering price of $15.00 per share. Includes (a) 3,923,460 shares of Common Stock that are held by RA Capital Fund and (b) 758,398 shares of Common Stock that are held in the Account. /s/ Thomas P. O'Neil as Attorney-in-Fact for Rajeev M. Shah 2019-09-17