X0306 4 2019-06-24 0 0001744659 Akero Therapeutics, Inc. AKRO 0001727703 Royston Aaron C/O AKERO THERAPEUTICS, INC. 170 HARBOR WAY, 3RD FLOOR SOUTH SAN FRANCISCO CA 94080 1 0 0 0 Common Stock 2019-06-24 4 P 0 250000 16 A 250000 I See Footnote Common Stock 2019-06-24 4 C 0 3469759 A 3719759 I See Footnote Common Stock 2019-06-24 4 C 0 235099 A 3954858 I See Footnote Series A Preferred Stock 2019-06-24 4 C 0 10666667 0 D Common Stock 3469759 0 I See Footnote Series B Preferred Stock 2019-06-24 4 C 0 722737 0 D Common Stock 235099 0 I See Footnote On June 24, 2019, venBio Global Strategic Fund II, L.P. purchased 250,000 shares of common stock of the Issuer at a price of $16.00 per share pursuant to an underwritten public offering. These shares are held by venBio Global Strategic Fund II, L.P. venBio Global Strategic GP II, L.P. is the sole general partner of venBio Global Strategic Fund II, L.P. and venBio Global Strategic GP II, Ltd. is the sole general partner of venBio Global Strategic GP II, L.P. Robert Adelman and Corey Goodman are directors of venBio Global Strategic GP II, Ltd. Each of venBio Global Strategic GP II, L.P., venBio Global Strategic GP II, Ltd., Mr. Adelman, Mr. Goodman and Aaron Royston disclaims beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein. Represents the total number of shares of common stock received by venBio Global Strategic Fund II, L.P. upon the conversion of the Issuer's Series A Preferred Stock in connection with the closing of the Issuer's initial public offering. All series of preferred stock automatically converted into the Issuer's common stock on a 3.07418-for-one basis upon the closing of the Issuer's initial public offering on June 24, 2019 and had no expiration date. Represents the total number of shares of common stock received by venBio Global Strategic Fund II, L.P. upon the conversion of the Issuer's Series B Preferred Stock in connection with the closing of the Issuer's initial public offering. /s/ Jonathan Young, as attorney-in-fact 2019-06-25