SCHEDULE 13G 0001930214 XXXXXXXX LIVE Common Stock, par value $0.00001 per share 03/10/2026 0001880438 AN2 Therapeutics, Inc. 037326105 1300 El Camino Real Suite 100 Menlo Park CA 94025 Rule 13d-1(c) Vivo Opportunity Fund Holdings, L.P. b DE 2864346.00 0.00 2864346.00 0.00 2864346.00 N 8.0 PN The number represents shares of common stock, par value $0.00001 per share (the "Common Stock") of AN2 Therapeutics, Inc. (the "Issuer"), which are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percent is based on 35,647,635 shares of the Issuer's Common Stock outstanding, which is the sum of (i) 27,402,024 shares of Common Stock outstanding as of November 3, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the "SEC") on November 12, 2025, and (ii) 8,245,611 shares of Common Stock issued at the closing of a private placement offering, as reported by the Issuer in its Current Report on Form 8-K filed with the SEC on March 10, 2026. Vivo Opportunity, LLC b DE 2864346.00 0.00 2864346.00 0.00 2864346.00 N 8.0 OO The number represents shares of Common Stock of the Issuer, which are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. The percent is based on 35,647,635 shares of the Issuer's Common Stock outstanding, which is the sum of (i) 27,402,024 shares of Common Stock outstanding as of November 3, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q, filed with the SEC on November 12, 2025, and (ii) 8,245,611 shares of Common Stock issued at the closing of a private placement offering, as reported by the Issuer in its Current Report on Form 8-K filed with the SEC on March 10, 2026. Vivo Opportunity Cayman Fund, L.P. b E9 289294.00 0.00 289294.00 0.00 289294.00 N 0.8 PN The number represents shares of Common Stock of the Issuer, which are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percent is based on 35,647,635 shares of the Issuer's Common Stock outstanding, which is the sum of (i) 27,402,024 shares of Common Stock outstanding as of November 3, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q, filed with the SEC on November 12, 2025, and (ii) 8,245,611 shares of Common Stock issued at the closing of a private placement offering, as reported by the Issuer in its Current Report on Form 8-K filed with the SEC on March 10, 2026. Vivo Opportunity Cayman, LLC b E9 289294.00 0.00 289294.00 0.00 289294.00 N 0.8 OO The number represents shares of Common Stock of the Issuer, which are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. The percent is based on 35,647,635 shares of the Issuer's Common Stock outstanding, which is the sum of (i) 27,402,024 shares of Common Stock outstanding as of November 3, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q, filed with the SEC on November 12, 2025, and (ii) 8,245,611 shares of Common Stock issued at the closing of a private placement offering, as reported by the Issuer in its Current Report on Form 8-K filed with the SEC on March 10, 2026. AN2 Therapeutics, Inc. 1300 El Camino Real, Suite 100, Menlo Park, California 94025 Vivo Opportunity Fund Holdings, L.P. and its General Partner Vivo Opportunity, LLC Vivo Opportunity Cayman Fund, L.P. and its General Partner Vivo Opportunity Cayman, LLC 192 Lytton Avenue, Palo Alto, CA 94301 Vivo Opportunity Fund Holdings, L.P. is a Delaware limited partnership. Vivo Opportunity, LLC is a Delaware limited liability company. Vivo Opportunity Cayman Fund, L.P. is a Cayman Islands limited partnership. Vivo Opportunity Cayman, LLC is a Cayman Islands limited liability company. Y 2,864,346 shares of the Issuer's Common Stock are held of record by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. 289,294 shares of the Issuer's Common Stock are held of record by Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Cayman, LLC is the general partner of Vivo Opportunity Cayman Fund, L.P. Vivo Opportunity Fund Holdings, L.P.: 8.0% Vivo Opportunity, LLC: 8.0% Vivo Opportunity Cayman Fund, L.P.: 0.8% Vivo Opportunity Cayman, LLC: 0.8% Vivo Opportunity Fund Holdings, L.P.: 2,864,346 shares Vivo Opportunity, LLC: 2,864,346 shares Vivo Opportunity Cayman Fund, L.P.: 289,294 shares Vivo Opportunity Cayman, LLC: 289,294 shares 0 Vivo Opportunity Fund Holdings, L.P.: 2,864,346 shares Vivo Opportunity, LLC: 2,864,346 shares Vivo Opportunity Cayman Fund, L.P.: 289,294 shares Vivo Opportunity Cayman, LLC: 289,294 shares 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. 99.1 Joint Filing Statement Vivo Opportunity Fund Holdings, L.P. /s/ Kevin Dai 03/13/2026 Vivo Opportunity, LLC /s/ Kevin Dai 03/13/2026 Vivo Opportunity Cayman Fund, L.P. /s/ Kevin Dai 03/13/2026 Vivo Opportunity Cayman, LLC /s/ Kevin Dai 03/13/2026