X0306 4 2020-12-23 0 0001785530 Werewolf Therapeutics, Inc. HOWL 0001808244 Lazarus Alon C/O WEREWOLF THERAPEUTICS, INC. 1030 MASSACHUSETTS AVENUE, SUITE 210 CAMBRIDGE MA 02138 1 0 1 0 Common Stock 2021-05-04 4 C 0 1235917 A 1235917 I See footnote Common Stock 2021-05-04 4 C 0 410717 A 1646634 I See footnote Common Stock 2021-05-04 4 P 0 400000 16.00 A 2046634 I See footnote Series B Preferred Stock 2020-12-23 4 P 0 3560551 0.9214 A Common Stock 410717 3560551 I See footnote Stock Option (right to buy) 16.00 2021-04-30 4 A 0 23200 0.00 A 2031-04-29 Common Stock 23200 23200 D Series A Preferred Stock 2021-05-04 4 C 0 10714284 0.00 D Common Stock 1235917 0 I See footnote Series B Preferred Stock 2021-05-04 4 C 0 3560551 0.00 D Common Stock 410717 0 I See footnote On May 4, 2021, the Series A Preferred Stock automatically converted into Common Stock on a 8.6691-for-one basis without payment of further consideration upon closing of the initial public offering of the Issuer's common stock. The shares had no expiration date. The securities are held directly by Arkin Bio Ventures 2 L.P. (the "Fund"). The general partner of the Fund is Arkin Bio Ventures GP, the general partner of which is Arkin Bio Ventures GPGP Ltd. Moshe Arkin is the sole shareholder and chairman of the board of Arkin Bio Ventures GPGP Ltd. The Reporting Person is the Biotech Investment Manager of the Fund and, as a result, each of Arkin Bio Ventures GP, Arkin Bio Ventures GPGP Ltd., Mr. Arkin and the Reporting Person may be deemed to share voting and investment power with respect to the shares held by the Fund. On May 4, 2021, the Series B Preferred Stock automatically converted into Common Stock on a 8.6691-for-one basis without payment of further consideration upon closing of the initial public offering of the Issuer's common stock. The shares had no expiration date. The Series B Preferred Stock was convertible into common stock on a 8.6691-for-one basis into the number of shares of common stock shown in Column 7 without payment of further consideration at the holder's election or upon closing of the initial public offering of the Issuer's common stock. The shares had no expiration date. The option was granted on April 30, 2021. The shares underlying the option vest over three years, with one-third of the shares vesting on the first anniversary of the date of grant and the remaining shares vesting in equal monthly installments thereafter. This Form 4 shall not be construed as an admission by the Reporting Person or any other entity named in this Form 4 that it is the beneficial owner of any of the securities covered by this Form 4, and the Reporting Person or each such other entity disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein. /s/ Reid Leonard, Attorney-in-fact 2021-05-04