X0306 4 2020-03-12 0 0001787306 Arcutis Biotherapeutics, Inc. ARQT 0001801050 Welgus Howard G. C/O ARCUTIS BIOTHERAPEUTICS, INC. 2945 TOWNSGATE ROAD, SUITE 110 WESTLAKE VILLAGE CA 91361 0 1 0 0 Chief Medical Officer Common Stock 2020-03-12 4 M 0 6110 0.5802 A 159992 D Common Stock 24991 I By Trust Stock Option (Right to Buy) 0.5802 2020-03-12 4 M 0 6110 0.00 D 2028-06-13 Common Stock 6110 36660 D The transaction by the Reporting Person is an exercise of an in-the-money option for cash consideration and does not involve the sale of any shares. The securities are held of record by The Welgus Living Trust, of which the Reporting Person is 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 option vests monthly over 35 months beginning July 11, 2019, subject to the Reporting Person's continuous provision of services to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase. /s/ John W. Smither, as Attorney-in-Fact for Howard G. Welgus 2020-03-16