X0306 5 2019-12-31 0 0 1 0001253176 VAPOTHERM INC VAPO 0001752890 Walrod Nicholas T. C/O VAPOTHERM INVESTORS, LLC 2540 NE MARTIN LUTHER KING JR. BLVD. PORTLAND OR 97212 0 0 1 0 Common Stock 2019-08-02 4 P 0 10000 14.34 A 3354162 I By 3x5 Partners, LLC Common Stock 2019-09-11 4 P 0 20000 8.68 A 3374162 I By 3x5 Partners, LLC This transaction was executed in multiple trades at prices ranging from $14.325 to $14.35. The price reported above reflects the weighted average price. The Reporting Person hereby undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $8.64 to $8.74. The price reported above reflects the weighted average price. The Reporting Person hereby undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected. Includes (i) 2,294,204 shares directly held by Vapotherm Investors, LLC and (ii) 1,049,958 shares directly held by 3x5 Special Opportunity Partners, L.P. 3x5 Partners, LLC is the managing member of Vapotherm Investors, LLC and a member of 3x5 Special Opportunity Partners, LLC, which is the general partner of 3x5 Special Opportunity Fund, L.P., and by virtue of these relationships 3x5 Partners, LLC may be deemed to indirectly beneficially own the shares directly held by Vapotherm Investors, LLC and 3x5 Special Opportunity Partners, L.P. The Reporting Person is a managing member of 3x5 Partners, LLC and shares voting and dispositive power over such securities. The Reporting Person disclaims beneficial ownership, within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, of such securities except to the extent of his pecuniary interest therein. /s/Anthony Ten Haagen, as Attorney In Fact 2020-01-24