AN2 Therapeutics, Inc. — Director's Dealing 2023

Sep 29, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AN2 Therapeutics, Inc. (ANTX)
CIK: 0001880438
Period of Report: 2023-09-27

Reporting Person: Adjuvant Global Health Technology Fund, L.P. (N/A)
Reporting Person: Adjuvant Global Health Technology Fund DE, L.P. (N/A)
Reporting Person: Adjuvant Capital GP, L.P. (N/A)
Reporting Person: Adjuvant Capital Management, LLC (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-27	Common Stock	S	707	$16.07	Disposed	2176840	Direct
2023-09-27	Common Stock	S	134	$16.07	Disposed	411759	Indirect
2023-09-28	Common Stock	S	7160	$16.11	Disposed	2169680	Direct
2023-09-28	Common Stock	S	1356	$16.11	Disposed	410403	Indirect

Footnotes

F1: The reported transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2022.

F2: The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $16.00 to $16.14, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

F3: Shares held directly by Adjuvant Global Health Technology Fund, L.P. ("AGHT Fund"). The sole general partner of AGHT Fund is Adjuvant Capital GP, L.P. ("AC GP") and the sole general partner of AC GP is Adjuvant Capital Management, L.L.C. ("AC MGMT"). Kabeer Aziz, a member of the Issuer's board of directors, is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.

F4: Shares held directly by Adjuvant Global Health Technology Fund DE, L.P. ("AGHT Fund DE"). The sole general partner of AGHT Fund DE is AC GP and the sole general partner of AC GP is AC MGMT. Kabeer Aziz, a member of the Issuer's board of directors, is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.

F5: The price reported is a weighted average price. These shares were sold in multiple transactions ranging from $16.00 to $16.57, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.