X0206 3 2024-01-01 0 0001719714 Mereo Biopharma Group plc MREO 0002005755 Fox Chrisitne Ann C/O MEREO BIOPHARMA GROUP PLC 4TH FLOOR, ONE CAVENDISH PLACE LONDON X0 W1G 0QF UNITED KINGDOM 0 1 0 0 Chief Financial Officer American Depositary Shares representing Ordinary Shares 10000 D Share Options (Right to buy) 3.32 2031-01-19 American Depositary Shares 170000 D Share Options (Right to buy) 1.40 2032-01-14 American Depositary Shares 220000 D Share Options (Right to buy) 1.01 2033-01-25 American Depositary Shares 375000 D Performance Based Restricted Stock Unit 2025-01-25 American Depositary Shares 150000 D Each American Depositary Share ("ADS") represents five ordinary shares, nominal value GBP 0.003 per ordinary share, of the Issuer. 25% of the shares underlying this share option vested and became exercisable on January 19, 2022 with the remainder vesting in equal monthly installments for the three years thereafter. 25% of the shares underlying this share option vested and became exercisable on January 14, 2023 with the remainder vesting in equal monthly installments for the three years thereafter. 25% of the shares underlying this share option will vest and become exercisable on January 25, 2024, with the remainder vesting in equal monthly installments for the three years thereafter. Each performance based restricted stock unit ("PSU") represents the conditional right to receive one ADS and shall vest upon satisfaction of four escalating ADS price threshold values over a two year performance period. The number included in column 3 of Table II reflects the number of PSUs eligible for vesting. If a minimum ADS price threshold is not met, such PSUs may vest at zero ADSs. /s/ Christine Fox 2024-01-02