Werewolf Therapeutics, Inc. — Director's Dealing 2021

May 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Werewolf Therapeutics, Inc. (HOWL)
CIK: 0001785530
Period of Report: 2021-05-04

Reporting Person: RA CAPITAL MANAGEMENT, L.P. (Director, 10% Owner)
Reporting Person: RA Capital Healthcare Fund LP (Director, 10% Owner)
Reporting Person: Kolchinsky Peter (Director, 10% Owner)
Reporting Person: Shah Rajeev M. (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-04	Common Stock	C	1915546	—	Acquired	1915546	Indirect
2021-05-04	Common Stock	P	1609212	$16.00	Acquired	3524758	Indirect
2021-05-04	Common Stock	C	338037	—	Acquired	338037	Indirect
2021-05-04	Common Stock	P	105788	$16.00	Acquired	443825	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-04	Series B Preferred Stock	$	C	16606068	Disposed		Common Stock (1915546)	Indirect
2021-05-04	Series B Preferred Stock	$	C	2930482	Disposed		Common Stock (338037)	Indirect

Footnotes

F1: On May 4, 2021, The Series B Preferred Stock automatically converted into Common Stock on a 8.6691-for-one basis without payment of further consideration upon closing of the initial public offering of the Issuer's common stock. The shares had no expiration date.

F2: These securities are held directly by RA Capital Healthcare Fund, L.P. (the "Fund").

F3: These securities are held directly by RA Capital Nexus Fund II, L.P. (the "Nexus Fund II").

F4: RA Capital Management, L.P. (the "Adviser") is the investment manager for the Fund and the Nexus Fund II. The general partner of the Adviser is RA Capital Management GP, LLC (the "Adviser GP"), of which Dr. Peter Kolchinsky and Mr. Rajeev Shah are the managing members. The Adviser, the Adviser GP, Dr. Kolchinsky and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein.