Novartis AG — Director's Dealing 2019

May 31, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BICYCLE THERAPEUTICS plc (BCYC)
CIK: 0001761612
Period of Report: 2019-05-28

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
2019-05-28	Ordinary Shares	C	893195	—	Acquired	893195	Direct
2019-05-28	Ordinary Shares	X	71450	—	Acquired	964645	Direct
2019-05-28	Ordinary Shares	C	636366	—	Acquired	1601011	Direct
2019-05-28	Ordinary Shares	P	168630	$14.00	Acquired	1769641	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-28	Series A Preferred Shares	$	C	893195	Disposed		Ordinary Shares (893195)	Direct
2019-05-28	Series A Preferred Shares Warrants	$	X	71450	Disposed		Ordinary Shares (71450)	Direct
2019-05-28	Series B1 Preferred Shares	$	C	636366	Disposed		Ordinary Shares (636366)	Direct

Footnotes

F1: Each Series A and B1 Preferred Share automatically converted into Ordinary Shares on a one-for-1.429 basis upon the closing of the Issuer's initial public offering and had no expiration date.

F2: Upon conversion of all of the Series B1 Preferred Shares into Ordinary Shares in connection with the Issuer's initial public offering, the Warrants became exercisable for Ordinary Shares. The Warrants had an exercise price of a nominal value per share and were exercised immediately prior to completion of the Issuer's initial public offering.