Novartis AG — Director's Dealing 2017

May 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ra Pharmaceuticals, Inc. (RARX)
CIK: 0001481512
Period of Report: 2017-02-22

Reporting Person: Novartis Bioventures Ltd (10% Owner)
Reporting Person: NOVARTIS AG (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-22	Common Stock	S	749	$21.8553	Disposed	2544903	Direct
2017-02-23	Common Stock	S	4999	$21.0362	Disposed	2539904	Direct
2017-02-24	Common Stock	S	5398	$20.9336	Disposed	2534506	Direct
2017-02-27	Common Stock	S	57844	$20.9582	Disposed	2476662	Direct
2017-02-28	Common Stock	S	7847	$20.8577	Disposed	2468815	Direct
2017-03-01	Common Stock	S	7778	$20.9126	Disposed	2461037	Direct

Footnotes

F1: Reflects sales of ordinary shares executed in multiple transactions at prices ranging from $21.85 to $21.88 on February 22, 2017; $20.74 to $21.32 on February 23, 2017; $20.85 to $21.01 on February 24, 2017; $20.85 to $21.09 on February 27, 2017; $20.50 to $21.06 on February 28, 2017; and $20.50 to $21.06 on March 1, 2017. The prices reported reflect the weighted average sale prices. The Reporting Persons hereby undertake to provide upon request to the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the sales were effected.

F2: The board of directors of Novartis Bioventures Ltd. has sole voting and investment control and power over such securities. None of the members of its board of directors has individual voting or investment power with respect to such securities and each disclaims beneficial ownership of such securities. Novartis Bioventures Ltd. is an indirectly owned subsidiary of Novartis AG.