X0306 4 2020-02-27 0 0001787306 Arcutis Biotherapeutics, Inc. ARQT 0001801061 Watanabe Todd Franklin C/O ARCUTIS BIOTHERAPEUTICS, INC. 2945 TOWNSGATE ROAD, SUITE 110 WESTLAKE VILLAGE CA 91361 1 1 0 0 President and CEO Common Stock 2020-02-27 4 A 0 29000 0.00 A 507447 D Common Stock 49981 I By LLC Common Stock 17850 I By Trust Common Stock 17850 I By Trust Common Stock 124956 I By Trust Stock Option (Right to Buy) 27.61 2020-02-27 4 A 0 65000 0 A 2030-02-27 Common Stock 65000 65000 D Grant of Restricted Stock Units ("RSU"). The Reporting Person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof. Includes 29,000 RSUs. The RSUs vest annually in equal installments over a period of 4 years commencing on the grant date, so that 100% of the RSUs become fully vested on February 27, 2024. The securities are held of record by Watanabe Ventures, LLC, of which the Reporting Person is the Chief Operating Officer. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes. The securities are held of record by The Anderson Prest Watanabe Irrevocable Trust, of which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes. The securities are held of record by The John Franklin Watanabe Trust, of which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes. The securities are held of record by The Watanabe 2016 Irrevocable Trust, of which the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of such securities for purposes of Section 16 or for any other purposes. The shares subject to the stock option vest in equal monthly installments over a period of 48 months commencing on the grant date so that 100% of the shares become fully vested and exercisable on February 27, 2024. /s/ John W. Smither, as Attorney-in-Fact for Todd Franklin Watanabe 2020-03-03