# EDGAR Filing Document

**Accession Number:** 0001693011
**File Stem:** 0001193125-25-132730
**Filing Date:** 2025-6
**Character Count:** 472887
**Document Hash:** fa88061c6fd4b01b0ab0395100f08575
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-132730.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0001193125-25-132730

**CONFORMED SUBMISSION TYPE**: SC TO-T

**PUBLIC DOCUMENT COUNT**: 21

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Inozyme Pharma, Inc.
- **CENTRAL INDEX KEY:** 0001693011
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 475129768
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-T
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91586
- **FILM NUMBER:** 251013063

**BUSINESS ADDRESS:**
- **STREET 1:** 321 SUMMER STREET
- **STREET 2:** SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 857-330-4340

**MAIL ADDRESS:**
- **STREET 1:** 321 SUMMER STREET
- **STREET 2:** SUITE 400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Inozyme Pharma, LLC
- **DATE OF NAME CHANGE:** 20161222
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BIOMARIN PHARMACEUTICAL INC
- **CENTRAL INDEX KEY:** 0001048477
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 680397820
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-T

**BUSINESS ADDRESS:**
- **STREET 1:** 105 DIGITAL DRIVE
- **CITY:** NOVATO
- **STATE:** CA
- **ZIP:** 94949
- **BUSINESS PHONE:** 4155066700

**MAIL ADDRESS:**
- **STREET 1:** 105 DIGITAL DRIVE
- **CITY:** NOVATO
- **STATE:** CA
- **ZIP:** 94949

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**SCHEDULE TO** 

**TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)** 

**OF THE SECURITIES EXCHANGE ACT OF 1934** 

## INOZYME PHARMA, INC.
**(Name of Subject Company (Issuer))** 

**INCLINE MERGER SUB, INC.** 

**(Offeror)** 

**A Wholly-Owned Subsidiary of** 

**BIOMARIN PHARMACEUTICAL INC.** 

**(Parent of Offeror)** 

**(Names of Filing Persons (identifying status as offeror, issuer or other person))** 

**Common Stock, par value $0.0001 per share** 

**(Title of Class of Securities)** 

**45790W108** 

**(CUSIP Number of Class of Securities)** 

**Alexander Hardy** 

**President and Chief Executive Officer** 

**G. Eric Davis** 

**Executive Vice President & Chief Legal Officer** 

**BioMarin Pharmaceutical Inc.** 

**770 Lindaro Street** 

**San Rafael, California 94901** 

**(415) 506-6700** 

**(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Filing Persons)** 

***Copies to:***

**Jamie Leigh, Esq.** 

**Ben Beerle, Esq.** 

**Chadwick Mills, Esq.** 

**Siana Lowrey, Esq.** 

**Cooley LLP** 

**3 Embarcadero Center** 

**20th Floor** 

**San Francisco, CA 94111** 

**(415) 693-2000** 

☐ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer. Check the appropriate boxes below to designate any transactions to which the statement relates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ Third-party offer subject to Rule 14d-1.

☐ Issuer tender offer subject to Rule 13e-4.

☐ Going-private transaction subject to Rule 13e-3.

☐ Amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: E

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

☐ Rule 13e-4(i) (Cross-Border Issuer Tender Offer)

☐ Rule 14d-1(d) (Cross-Border Third Party Tender Offer)

------

***Items 1 through 9 and Item 11.***

This Tender Offer Statement on Schedule TO (the "**Schedule TO**") relates to the offer by Incline Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation, to acquire all of the outstanding shares of common stock, par value $0.0001 per share (the "**Shares**") of Inozyme Pharma, Inc., a Delaware corporation, for $4.00 per Share, in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 2, 2025 (as it may be amended or supplemented from time to time, the "**Offer to Purchase**"), and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the "**Letter of Transmittal**"), copies of which are attached hereto as Exhibits (a)(1)(i) and (a)(1)(ii), respectively.

The information set forth in the Offer to Purchase, including all schedules thereto, is hereby expressly incorporated herein by reference in response to all of the items of this Schedule TO, except as otherwise set forth below.

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| | |
|:---|:---|
| ***Item 10.*** | ***Financial Statements.***  |

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Not applicable.

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| | |
|:---|:---|
| ***Item 12.*** | ***Exhibits.***  |

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| (a)(1)(i)\* | [Offer to Purchase, dated as of June 2, 2025.](d942767dex99a1i.htm) |
| (a)(1)(ii)\* | [Form of Letter of Transmittal (including Guidelines for Certification of Taxpayer Identification Number on IRS Form W-9).](d942767dex99a1ii.htm) |
| (a)(1)(iii)\* | [Form of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.](d942767dex99a1iii.htm) |
| (a)(1)(iv)\* | [Form of Letter to Clients for use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.](d942767dex99a1iv.htm) |
| (a)(1)(v)\* | [Form of Notice of Guaranteed Delivery.](d942767dex99a1v.htm) |
| (a)(1)(vi)\* | [Summary Advertisement, as published in The Wall Street Journal on June 2, 2025.](d942767dex99a1vi.htm) |
| (a)(5)(i) | [Joint Press Release issued by BioMarin Pharmaceutical Inc. and Inozyme Pharma, Inc. dated May 16, 2025 (incorporated by reference to (i) Exhibit 99.1 of the BioMarin Pharmaceutical Inc. Current Report on Form 8-K (File No. 000-26727) filed with the Securities and Exchange Commission on May 16, 2025 and (ii) Exhibit 99.1 of the Inozyme Pharma, Inc. Current Report on Form 8-K (File No. 001-39397) filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121296/d833625dex991.htm) |
| (a)(5)(ii) | [Letter to BioMarin Employees dated May 16, 2025 (incorporated by reference to Exhibit 99.1 of the second BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121809/d920790dex991.htm) |
| (a)(5)(iii) | [Letter to Inozyme Employees dated May 16, 2025 (incorporated by reference to Exhibit 99.2 of the second BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121809/d920790dex992.htm) |
| (a)(5)(iv) | [BioMarin Social Media Content dated May 16, 2025 (incorporated by reference to Exhibit 99.3 of the second BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121809/d920790dex993.htm) |
| (a)(5)(v) | [Email from Douglas A. Treco, Chief Executive Officer and Chairman of Inozyme Pharma, Inc., to employees on May 16, 2025 (incorporated by reference to Exhibit 99.1 of the Inozyme Pharma, Inc. Solicitation/Recommendation Statement on Schedule 14D-9-C filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1693011/000119312525121735/d920806dex991.htm) |
| (a)(5)(vi) | [Transcript from BioMarin Business Update Call dated May 16, 2025 (incorporated by reference to Exhibit 99.1 of the BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 19, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121891/d48956dex991.htm) |
| (a)(5)(vii) | [Presentation to BioMarin Employees dated May 19, 2025 (incorporated by reference to Exhibit 99.1 of the second BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 19, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525122547/d876441dex991.htm) |
| (a)(5)(viii) | [Presentation to Inozyme Employees dated May 19, 2025 (incorporated by reference to Exhibit 99.2 of the second BioMarin Pharmaceutical Inc. Pre-Commencement Communication on Schedule TO filed with the Securities and Exchange Commission on May 19, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525122547/d876441dex992.htm) |
| (b) | Not Applicable. |
| (d)(1)+ | [Agreement and Plan of Merger, dated as of May 16, 2025, by and among Inozyme Pharma, Inc., BioMarin Pharmaceutical Inc., and Incline Merger Sub, Inc. (incorporated by reference to Exhibit 2.1 of the BioMarin Pharmaceutical Inc. Current Report on Form 8-K (File No. 000-26727) filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121296/d833625dex21.htm) |
| (d)(2) | [Form of Tender and Support Agreement (incorporated by reference to Exhibit 10.1 of the BioMarin Pharmaceutical Inc. Current Report on Form 8-K (File No. 000-26727) filed with the Securities and Exchange Commission on May 16, 2025).](http://www.sec.gov/Archives/edgar/data/1048477/000119312525121296/d833625dex101.htm) |

---

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| (d)(3)\* | [Mutual Non-Disclosure Agreement, dated May 8, 2024, by and between BioMarin Pharmaceutical Inc. and Inozyme Pharma, Inc.](d942767dex99d3.htm) |
| (d)(4)\* | [Exclusivity Agreement, dated May 10, 2025, by and between BioMarin Pharmaceutical Inc. and Inozyme Pharma, Inc.](d942767dex99d4.htm) |
| (g) | Not Applicable. |
| (h) | Not Applicable. |
| 107\* | [Filing Fee Table.](d942767dexfilingfees.htm) |

---

\* Filed herewith

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| | |
|:---|:---|
| + | Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. BioMarin agrees to furnish supplementally a copy of any omitted exhibit or schedule to the Securities and Exchange Commission upon request; provided, however, that BioMarin may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule so furnished.  |

---

------

**SIGNATURES** 

After due inquiry and to the best knowledge and belief of the undersigned, each of the undersigned certify that the information set forth in this statement is true, complete and correct.

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| | | |
|:---|:---|:---|
| Date: June 2, 2025 |  | Incline Merger Sub, Inc., <br>a Delaware corporation |
|  | By: | /s/ G. Eric Davis |
|  |  | **G. Eric Davis** |
|  |  | **President** |
|  |  | BioMarin Pharmaceutical Inc., <br>a Delaware corporation |
|  | By: | /s/ G. Eric Davis |
|  |  | **G. Eric Davis** |
|  |  | **Executive Vice President, Chief Legal Officer** |

---

## Ex-99.(A)(1)(I)

**Exhibit (a)(1)(i)** 

**Offer to Purchase for Cash** 

**All Outstanding Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BIOMARIN PHARMACEUTICAL INC.** 

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M.,** 

**EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLIER TERMINATED.** 

THIS OFFER IS BEING MADE PURSUANT TO THE AGREEMENT AND PLAN OF MERGER, DATED AS OF MAY 16, 2025 (AS IT MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, THE "MERGER AGREEMENT"), BY AND AMONG (I) INOZYME PHARMA, INC., A DELAWARE CORPORATION ("INOZYME"), (II) BIOMARIN PHARMACEUTICAL INC., A DELAWARE CORPORATION ("PARENT"), AND (III) INCLINE MERGER SUB, INC., A DELAWARE CORPORATION AND A WHOLLY-OWNED SUBSIDIARY OF PARENT ("PURCHASER"). PURCHASER IS OFFERING TO ACQUIRE ALL OF THE OUTSTANDING SHARES OF COMMON STOCK, PAR VALUE $0.0001 PER SHARE (THE "SHARES"), OF INOZYME FOR $4.00 PER SHARE, IN CASH, WITHOUT INTEREST, SUBJECT TO ANY APPLICABLE WITHHOLDING OF TAXES, UPON THE TERMS AND SUBJECT TO THE CONDITIONS SET FORTH IN THIS OFFER TO PURCHASE, THE RELATED LETTER OF TRANSMITTAL AND THE NOTICE OF GUARANTEED DELIVERY (WHICH, TOGETHER WITH ANY AMENDMENTS OR SUPPLEMENTS FROM TIME TO TIME HERETO AND THERETO, COLLECTIVELY CONSTITUTE THE "OFFER"). UNDER NO CIRCUMSTANCES WILL PURCHASER PAY INTEREST ON THE CONSIDERATION PAID FOR SHARES PURSUANT TO THE OFFER, REGARDLESS OF ANY EXTENSION OF THE OFFER OR ANY DELAY IN MAKING SUCH PAYMENT. THE MERGER AGREEMENT PROVIDES, AMONG OTHER THINGS, THAT AS SOON AS PRACTICABLE FOLLOWING (BUT IN ANY EVENT ON THE SAME DAY AS) THE ACCEPTANCE OF THE SHARES FOR PAYMENT (THE "OFFER ACCEPTANCE TIME"), SUBJECT TO THE SATISFACTION OR WAIVER OF THE OTHER CONDITIONS SET FORTH IN THE MERGER AGREEMENT, PURCHASER WILL BE MERGED WITH AND INTO INOZYME (THE "MERGER"), WITHOUT A VOTE OF THE STOCKHOLDERS OF INOZYME IN ACCORDANCE WITH SECTION 251(h) OF THE DELAWARE GENERAL CORPORATION LAW (THE "DGCL").

**THE BOARD OF DIRECTORS OF INOZYME, AT A MEETING DULY CALLED AND HELD, UNANIMOUSLY (A) DETERMINED THAT THE MERGER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THE MERGER AGREEMENT, INCLUDING THE OFFER AND THE MERGER (THE "TRANSACTIONS"), ARE ADVISABLE, FAIR TO, AND IN THE BEST INTEREST OF INOZYME AND ITS STOCKHOLDERS, (B) APPROVED THE EXECUTION, DELIVERY AND PERFORMANCE BY INOZYME OF THE MERGER AGREEMENT AND THE CONSUMMATION OF THE TRANSACTIONS, INCLUDING THE OFFER AND MERGER, ON THE TERMS AND SUBJECT TO THE CONDITIONS SET FORTH IN THE MERGER AGREEMENT, (C) RESOLVED THAT THE MERGER WILL BE EFFECTED UNDER SECTION 251(h) OF THE DGCL AND (D) RESOLVED TO RECOMMEND THAT THE STOCKHOLDERS OF INOZYME TENDER THEIR SHARES TO PURCHASER PURSUANT TO THE OFFER.** 

------

**CONCURRENTLY WITH THE EXECUTION OF THE MERGER AGREEMENT, CERTAIN STOCKHOLDERS OF INOZYME ENTERED INTO TENDER AND SUPPORT AGREEMENTS (THE "SUPPORT AGREEMENTS"). PURSUANT TO THE SUPPORT AGREEMENTS, EACH OF THESE STOCKHOLDERS HAS AGREED, AMONG OTHER THINGS, TO TENDER, OR CAUSE TO BE TENDERED, PURSUANT TO THE OFFER, ALL SHARES HELD OF RECORD AND BENEFICIALLY OWNED BY SUCH PERSONS IMMEDIATELY PRIOR TO THE TIME OF EXPIRATION OF THE OFFER.** 

**THE OFFER IS NOT CONDITIONED ON OBTAINING FINANCING OR THE FUNDING THEREOF. HOWEVER, THE OFFER IS SUBJECT TO VARIOUS OTHER CONDITIONS, INCLUDING, AMONG OTHER THINGS, THAT THE NUMBER OF SHARES (I) VALIDLY TENDERED (AND NOT VALIDLY WITHDRAWN) PRIOR TO THE TIME THAT THE OFFER EXPIRES, AND (II) OTHERWISE BENEFICIALLY OWNED BY PARENT OR PURCHASER (OR ANY WHOLLY-OWNED SUBSIDIARY OF PARENT OR PURCHASER), IF ANY, COLLECTIVELY REPRESENT AT LEAST ONE (1) SHARE MORE THAN 50% OF THE THEN-ISSUED AND OUTSTANDING SHARES AS OF THE EXPIRATION OF THE OFFER (EXCLUDING ANY SHARES TENDERED PURSUANT TO GUARANTEED DELIVERY PROCEDURES THAT HAVE NOT YET BEEN "RECEIVED" (AS SUCH TERM IS DEFINED IN SECTION 251(h)(6)(f) OF THE DGCL)).** 

**A SUMMARY OF THE PRINCIPAL TERMS OF THE OFFER IS PROVIDED HEREIN UNDER THE HEADING "SUMMARY TERM SHEET". THIS OFFER TO PURCHASE AND THE RELATED LETTER OF TRANSMITTAL CONTAIN IMPORTANT INFORMATION, AND YOU SHOULD READ BOTH CAREFULLY BEFORE DECIDING WHETHER TO TENDER YOUR SHARES.** 

**QUESTIONS, REQUESTS FOR ASSISTANCE AND REQUESTS FOR ADDITIONAL COPIES OF THIS OFFER TO PURCHASE, THE LETTER OF TRANSMITTAL AND THE NOTICE OF GUARANTEED DELIVERY MAY BE DIRECTED TO THE INFORMATION AGENT AT THE ADDRESS AND TELEPHONE NUMBER SET FORTH ON THE BACK COVER OF THIS OFFER TO PURCHASE. STOCKHOLDERS ALSO MAY CONTACT THEIR BROKERS, DEALERS, BANKS, TRUST COMPANIES OR OTHER NOMINEES FOR ASSISTANCE CONCERNING THE OFFER.** 

June 2, 2025

------

**IMPORTANT** 

If you desire to tender all or any portion of your Shares in the Offer, this is what you must do:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are a record holder (i.e., a stock certificate or uncertificated stock in book-entry form has been issued
to you), you must complete and sign the enclosed Letter of Transmittal, in accordance with the instructions provided therein, and send it with your stock certificate (if applicable) and any other documents required in the Letter of Transmittal to
Computershare Trust Company, N.A., the paying agent for the Offer (the "**Paying Agent** "), or follow the procedures for book-entry transfer set forth in Section 3 of this Offer to Purchase. These materials must be received by the
Paying Agent prior to the expiration of the Offer. Detailed instructions are contained in the Letter of Transmittal and in "The Offer—Section 3—Procedures for Tendering Shares" of this Offer to Purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are a record holder and your stock is certificated but your stock certificate is not available or you
cannot deliver it to the Paying Agent prior to the expiration of the Offer, or you cannot complete the procedure for delivery of book-entry transfer prior to the Expiration Date, you may be able to tender your Shares using the enclosed Notice of
Guaranteed Delivery. Please call Innisfree M&A Incorporated, the information agent for the Offer, at +1 (877) 687-1871 (toll-free from the United States and Canada) or +1 (412) 232-3651 (from other countries) for assistance. Banks and brokers may call collect at +1 (212) 750-5833. See "The Offer—Section 3—Procedures for Tendering
Shares" for further details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you hold your Shares through a broker, dealer, commercial bank, trust company or other nominee, you must
contact your broker, dealer, commercial bank, trust company or other nominee and give instructions that your Shares be tendered.

**The Letter of Transmittal, the certificates for the Shares and any other required documents (or in the case of a book-entry transfer, an Agent's Message (defined in "The Offer**—**Section 3**—**Procedures for Tendering Shares**—**Book-Entry Delivery") and confirmation of a book-entry transfer of the Shares as described in "The Offer**—**Section 3**—**Procedures for Tendering Shares") must be received by the Paying Agent prior to the expiration of the Offer (currently scheduled as one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless extended or earlier terminated as permitted by the Merger Agreement (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the "Expiration Date")), unless the procedures for guaranteed delivery described in "The Offer—Section 3—Procedures for Tendering Shares" of this Offer to Purchase are followed.**

**This transaction has not been approved or disapproved by the U.S. Securities and Exchange Commission (the "SEC") or any state securities commission nor has the SEC or any state securities commission passed upon the fairness or merits of this transaction or upon the accuracy or adequacy of the information contained in this Offer to Purchase or the Letter of Transmittal. Any representation to the contrary is unlawful.** 

\* \* \*

*Questions and requests for assistance may be directed to the information agent at the address and telephone number set forth on the back cover of this Offer to Purchase. Additional copies of this Offer to Purchase, the Letter of Transmittal, the Notice of Guaranteed Delivery and other related materials may be obtained from the information agent or from your broker, dealer, commercial bank, trust company or other nominee. Copies of these materials may also be found at the website maintained by the SEC at <u>www.sec.gov</u>. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance.* 

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**TABLE OF CONTENTS** 

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| | | |
|:---|:---|:---|
|  [SUMMARY TERM SHEET](#otptx942767_1) | [SUMMARY TERM SHEET](#otptx942767_1) | 1 |
|  [INTRODUCTION](#otptx942767_2) | [INTRODUCTION](#otptx942767_2) | 12 |
|  [THE OFFER](#otptx942767_3) | [THE OFFER](#otptx942767_3) | 16 |
| 1. | [Terms of the Offer](#otptx942767_4) | 16 |
| 2. | [Acceptance for Payment and Payment for Shares](#otptx942767_5) | 17 |
| 3. | [Procedures for Tendering Shares](#otptx942767_6) | 18 |
| 4. | [Withdrawal Rights](#otptx942767_7) | 21 |
| 5. | [Material U.S. Federal Income Tax Consequences](#otptx942767_8) | 22 |
| 6. | [Price Range of Shares; Dividends](#otptx942767_9) | 24 |
| 7. | [Possible Effects of the Offer on the Market for the Shares; Stock Exchange Listing; Registration under the Exchange Act; Margin Regulations](#otptx942767_10) | 24 |
| 8. | [Certain Information Concerning Inozyme](#otptx942767_11) | 26 |
| 9. | [Certain Information Concerning Purchaser and Parent](#otptx942767_12) | 26 |
| 10. | [Source and Amount of Funds](#otptx942767_13) | 27 |
| 11. | [Background of the Offer; Contacts with Inozyme](#otptx942767_14) | 28 |
| 12. | [Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights](#otptx942767_15) | 30 |
| 13. | [The Transaction Documents](#otptx942767_16) | 32 |
| 14. | [Dividends and Distributions](#otptx942767_17) | 52 |
| 15. | [Conditions to the Offer](#otptx942767_18) | 53 |
| 16. | [Certain Legal Matters; Regulatory Approvals](#otptx942767_19) | 56 |
| 17. | [Fees and Expenses](#otptx942767_20) | 58 |
| 18. | [Miscellaneous](#otptx942767_21) | 58 |
|  [SCHEDULE I](#otptx942767_22) | [SCHEDULE I](#otptx942767_22) | I-1 |

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**SUMMARY TERM SHEET** 

Incline Merger Sub, Inc. ("**Purchaser**"), a wholly-owned subsidiary of BioMarin Pharmaceutical Inc. ("**Parent**"), is offering to acquire all of the outstanding shares of common stock, par value $0.0001 per share, of Inozyme Pharma, Inc. ("**Inozyme**") for $4.00 per share (the "**Offer Price**" or the "**Merger Consideration**"), in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in this Offer to Purchase and the related Letter of Transmittal (as each may be amended or supplemented from time to time) (collectively, the "**Offer**"), and pursuant to the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time, the "**Merger Agreement**"), by and among Inozyme, Parent and Purchaser. The following are some of the questions you, as an Inozyme stockholder, may have, and answers to those questions. **This summary term sheet is not meant to be a substitute for the more detailed information contained in the remainder of this Offer to Purchase, and you should carefully read this Offer to Purchase and the accompanying Letter of Transmittal in their entirety because the information in this summary term sheet is not complete and additional important information is contained in the remainder of this Offer to Purchase and the related Letter of Transmittal.** This summary term sheet includes cross-references to other sections of this Offer to Purchase to direct you to the sections of this Offer to Purchase containing a more complete description of the topics covered in this summary term sheet. Unless the context otherwise requires, the terms "we," "us" and "our" refer to Purchaser. The information concerning Inozyme contained herein and elsewhere in this Offer to Purchase has been provided to Parent and Purchaser by Inozyme or has been taken from or is based upon publicly available documents or records of Inozyme on file with the U.S. Securities and Exchange Commission (the "**SEC**") or other public sources at the time of the Offer. Parent and Purchaser have not independently verified the accuracy or completeness of such information.

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| | |
|:---|:---|
| **Securities Sought**  | All of the outstanding shares of common stock, par value $0.0001 per share (the "**Shares**"), of Inozyme. |

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| | |
|:---|:---|
| **Price Offered Per Share**  | $4.00, in cash, without interest, subject to any applicable withholding of taxes. |

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| | |
|:---|:---|
| **Scheduled Expiration of Offer**  | One minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless the Offer is extended or earlier terminated as permitted by the Merger Agreement (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the "**Expiration Date**"). |

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| | |
|:---|:---|
| **Purchaser**  | Incline Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation. |

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**Who is offering to buy my securities?** 

Our name is Incline Merger Sub, Inc., a wholly-owned subsidiary of Parent. We are a Delaware corporation formed for the purpose of making this tender offer for all of the outstanding Shares and completing the process by which we will be merged with and into Inozyme. See the "Introduction" to this Offer to Purchase and "The Offer—Section 9—Certain Information Concerning Purchaser and Parent."

**What securities are you offering to purchase?** 

We are offering to acquire all of the outstanding Shares, on the terms and subject to the conditions set forth in this Offer to Purchase and the related Letter of Transmittal. We refer to each share of Inozyme common stock as a "Share." See the "Introduction" to this Offer to Purchase and "The Offer—Section 1—Terms of the Offer."

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**Why are you making the Offer?** 

We are making the Offer to acquire the entire equity interest in Inozyme. If the Offer is consummated, upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the relevant provisions of the Delaware General Corporation Law ("**DGCL**") and other applicable legal requirements, Purchaser will be merged with and into Inozyme (the "**Merger**"), with Inozyme surviving the Merger. Upon consummation of the Merger, Inozyme will cease to be a publicly traded company and will become a wholly-owned subsidiary of Parent.

**How much are you offering to pay for my securities and what is the form of payment? Will I have to pay any fees or commissions?** 

We are offering to pay $4.00 per Share, in cash, without interest, subject to any applicable withholding of taxes. If you are the record holder of your Shares (i.e., a stock certificate or uncertificated stock in book-entry form has been issued to you) and you directly tender your Shares to Purchaser in the Offer, you will not have to pay brokerage fees or similar expenses. If you own your Shares through a broker, dealer, commercial bank, trust company or other nominee, and your broker, dealer, commercial bank, trust company or other nominee tenders your Shares on your behalf, then they may charge you a fee for doing so. You should consult your broker, dealer, commercial bank, trust company or other nominee to determine whether any charges will apply. See the "Introduction" to this Offer to Purchase and "The Offer—Section 2—Acceptance for Payment and Payment for Shares."

**Do you have the financial resources to pay for the Shares?** 

Yes. We estimate that we will need approximately $340 million to acquire all Shares pursuant to the Offer and the Merger, to pay amounts payable in respect of the Inozyme Options and Inozyme RSUs (each as defined below), to pay related fees and expenses and to pay all other amounts that may become due and payable as a result of the Offer and the Merger. Parent and its controlled affiliates expect to contribute or otherwise advance to Purchaser the funds necessary to consummate the Offer and the Merger and to pay related fees and expenses. Parent intends to finance the acquisition of Shares in the Offer and Merger through its cash on hand or other liquid financial resources.

Neither the consummation of the Offer nor the Merger is subject to, or contingent upon, any financing condition or the receipt of proceeds from any debt financing or borrowings. See "The Offer—Section 10—Source and Amount of Funds."

**Is your financial condition relevant to my decision to tender in the Offer?** 

No. We do not think our financial condition or the financial condition of Parent is relevant to your decision whether to tender Shares and accept the Offer because:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Offer is being made for all outstanding Shares solely for cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• as described above, we, through Parent and its controlled affiliates, will have sufficient funds available to
acquire all Shares validly tendered, and not withdrawn, in the Offer and to provide funding for the Merger, which is expected to occur as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time (as defined
below), subject to the satisfaction or waiver of the other conditions to the consummation of the Offer set forth in the Merger Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• consummation of the Offer is not subject to, or contingent upon, any financing condition; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if we consummate the Offer, we expect to acquire any remaining Shares in the Merger for the same cash per Share
price payable in connection with the Offer.

See "The Offer—Section 10—Source and Amount of Funds."

**What are the conditions to the Offer?** 

Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-l(c) under the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the "**Exchange Act**") relating to Purchaser's obligation to pay for or return tendered Shares promptly after termination or withdrawal of the Offer) pay for, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn as of immediately prior to the expiration of the Offer), and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares: (a) if the Merger Agreement has been terminated in accordance with its terms; and (b) at any scheduled Expiration Date (subject to any extensions of the Offer pursuant to the terms of Merger Agreement), if any of the following conditions have not been satisfied or waived in writing by Parent as of the Expiration Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the number of Shares (a) validly tendered (and not validly withdrawn) prior to the Expiration Date and
(b) otherwise beneficially owned by Parent or Purchaser (or any wholly-owned subsidiary of Parent or Purchaser), if any, collectively represent at least one Share more than 50% of the then-issued and outstanding Shares as of the expiration of
the Offer (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)) (the "**Minimum Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) the representations and warranties of Inozyme set forth in Section 4.4(a), Section 4.4(c) and
Section 4.4(e) (*Capitalization, Etc.*) of the Merger Agreement will have been accurate in all respects except for any *de minimis* inaccuracies as of the date of the Merger Agreement and will be accurate in all respects except for
any *de minimis* inaccuracies at and as of the Offer Acceptance Time as if made on and as of such time (except representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date
or time); (b) the representations and warranties of Inozyme set forth in Section 4.1 (*Due Organization; Subsidiaries Etc.*) Section 4.4 (*Capitalization, Etc.*) (other than Section 4.4(a), Section 4.4(c) and
Section 4.4(e)), Section 4.3 (*Authority; Binding Nature of Agreement*), Section 4.26 (*Merger Approval*) and Section 4.28 (*Brokers and Other Advisors*) of the Merger Agreement will have been accurate
(disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications contained in such representations and warranties) in all material respects as of the date of the Merger Agreement and will be accurate
(disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications contained in such representations and warranties) in all material respects at and as of the Offer Acceptance Time as if made on and as
of such time (except representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date or time); (c) the representations and warranties of Inozyme set forth in Section 3.5(a)
(*Absence of Changes*) will have been accurate as of the date of the Merger Agreement and will be accurate at and as of the Offer Acceptance Time as if made on and as of such time (it being understood that the accuracy of those representations
or warranties that address matters only as of a specific date will be measured (subject to the applicable materiality standard set forth in this clause (c) only as of such date)); (d) all of the other representations and warranties of Inozyme
set forth in the Merger Agreement (other than those referred to in clauses (a), (b) and (c) above) will have been accurate (disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications
contained in such representations and warranties) in all respects as of the date of the Merger Agreement and will be accurate (disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications contained
in such representations and

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warranties) in all respects at and as of the Offer Acceptance Time as if made on and as of such time (except representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date or time), except where any failure of any representation or warranty to be so accurate has not had, and would not reasonably be expected to have, a Material Adverse Effect (the "**Representations Condition**"); <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme having complied with or performed in all material respects all of Inozyme's covenants and agreements
it is required to comply with or perform at or prior to the Offer Acceptance Time (the "**Obligations Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Since the date of the Merger Agreement, there will not have occurred any Material Adverse Effect (as defined in
the Merger Agreement and described in more detail in "The Offer—Section 15—Conditions to the Offer") that is continuing as of the Offer Acceptance Time (the "**MAE Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The waiting period (or any extension thereof) applicable to the Offer under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 (the "**HSR Act**") and any timing agreement with any governmental body has expired or been terminated (the "**Regulatory Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Parent and Purchaser having received a certificate executed on behalf of Inozyme by Inozyme's Chief
Executive Officer or its Chief Financial Officer confirming that the Representations Condition, the Obligations Condition and the MAE Condition have been duly satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• there not having been issued by any court of competent jurisdiction or remaining in effect any temporary,
preliminary or permanent order preventing the acquisition of or payment for Shares pursuant to the Offer, nor any law or order promulgated, entered, enforced, enacted, issued or deemed applicable to the Offer or the Merger by any governmental body
of competent jurisdiction that remains in effect that directly or indirectly enjoins, restrains or otherwise prohibits, or makes illegal, the acquisition of or payment for Shares pursuant to the Offer, or the consummation of the Merger (the
" **Order Condition** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Merger Agreement not having been terminated in accordance with its terms (the "**Termination Condition** ").

The conditions to the Offer are described in "The Offer—Section 15—Conditions to the Offer." See also "The Offer—Section 16—Certain Legal Matters; Regulatory Approvals." Consummation of the Offer is not conditioned on obtaining financing or the funding thereof. "**Antitrust Laws**" means the Sherman Act, the Clayton Act, the HSR Act, the Federal Trade Commission Act, state antitrust laws, and all other applicable laws (including non- U.S. laws) issued by a governmental body that are designed or intended to preserve or protect competition, prohibit and restrict agreements in restraint of trade or monopolization, attempted monopolization, restraints of trade and abuse of a dominant position, or to prevent acquisitions, mergers or other business combinations and similar transactions, the effect of which may be to lessen or impede competition or to tend to create or strengthen a dominant position or to create a monopoly.

**Is there an agreement governing the Offer?** 

Yes. Inozyme, Parent and Purchaser have entered into the Agreement and Plan of Merger, dated as of May 16, 2025. Pursuant to the Merger Agreement, the parties have agreed on, among other things, the terms and conditions of the Offer and, following consummation of the Offer, the Merger of Purchaser with and into Inozyme. See the "Introduction" to this Offer to Purchase and "The Offer—Section 13—The Transaction Documents—The Merger Agreement."

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**What does Inozyme's board of directors think about the Offer?** 

Inozyme's board of directors (the "**Inozyme Board**"), at a meeting duly called and held, unanimously:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• determined that the Merger Agreement and the transactions contemplated by the Merger Agreement, including the
Offer and the Merger (the "**Transactions** "), are advisable, fair to, and in the best interest of, Inozyme and its stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the
Transactions, including the Offer and the Merger, on the terms and subject to the conditions set forth in the Merger Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• resolved that the Merger will be effected under Section 251(h) of the DGCL; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• resolved to recommend that the stockholders of Inozyme tender their Shares to Purchaser pursuant to the Offer.

Promptly following the commencement of the Offer, Inozyme will file a Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC (together with any exhibits, amendments or supplements thereto, the "**Schedule 14D-9**") indicating the approval of the Merger Agreement, the Offer, the Merger and the other Transactions by the Inozyme Board and recommending that Inozyme's stockholders tender their Shares pursuant to the Offer.

See "The Offer—Section 11—Background of the Offer; Contacts with Inozyme" and "The Offer—Section 13—The Transaction Documents—The Merger Agreement." We expect that a more complete description of the reasons for the Inozyme Board's approval of the Offer and the Merger will be set forth in the Schedule 14D-9 filed with the SEC and mailed to Inozyme stockholders.

**How long do I have to decide whether to tender my Shares in the Offer?** 

You have until one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless the Offer is extended or earlier terminated as permitted by the Merger Agreement, to decide whether to tender your Shares in the Offer. See "The Offer—Section 1—Terms of the Offer." If you cannot deliver everything required to make a valid tender to Computershare Trust Company, N.A., the paying agent for the Offer (the "**Paying Agent**"), prior to such time, you may be able to use a guaranteed delivery procedure, which is described in "The Offer—Section 3—Procedures for Tendering Shares." In addition, if we extend the Offer as described below under "Introduction" to this Offer to Purchase, you will have an additional opportunity to tender your Shares. Please be aware that if your Shares are held by a broker, dealer, commercial bank, trust company or other nominee, they may require advance notification before the Expiration Date.

**When and how will I be paid for my tendered Shares?** 

In accordance with the terms and conditions of the Merger Agreement, and subject only to the satisfaction or, to the extent waivable by Purchaser or Parent, waiver of the conditions to the Offer set forth in "The Offer—Section 15—Conditions to the Offer," Purchaser will, and Parent will cause Purchaser to, irrevocably accept for payment (such time of acceptance for payment, the "**Offer Acceptance Time**") and pay for, all of the Shares validly tendered (and not validly withdrawn) pursuant to the Offer as promptly as practicable after (and in any event, no more than one (1) business day after) the Offer Acceptance Time.

We will pay for your validly tendered and not validly withdrawn Shares by depositing the purchase price with the Paying Agent, which will act as your agent for the purpose of receiving payments from Purchaser and transmitting such payments to you. In all cases, payment for tendered Shares will be made only after timely

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receipt by the Paying Agent of certificates for such Shares (or of a confirmation of a book-entry transfer of such Shares as described in "The Offer—Section 3—Procedures for Tendering Shares"), a properly completed and duly executed Letter of Transmittal (or manually signed facsimile thereof), or an Agent's Message (defined in "The Offer—Section 3—Procedures for Tendering Shares—Book-Entry Delivery") in connection with a book-entry delivery of Shares, and any other required documents for such Shares.

**Can the Offer be extended and under what circumstances?** 

Yes. If, as of the scheduled Expiration Date, any of the conditions to the Offer (the "**Offer Conditions**") is not satisfied (subject to the right of Parent or Purchaser to waive any Offer Condition, other than the Minimum Condition, the Termination Condition, the Regulatory Condition or the Order Condition), Purchaser will, and Parent will cause Purchaser to, extend the Offer on one or more occasions (in consecutive increments), for an additional period of up to ten (10) business days per extension, to permit such Offer Condition to be satisfied and Purchaser will (and Parent will cause Purchaser to) extend the Offer from time to time for the minimum period required by applicable law, any interpretation or position of the SEC or its staff or the Nasdaq Stock Market LLC ("**Nasdaq**") or its staff, applicable to the Offer, subject to the terms and conditions of the Merger Agreement, including certain limitations on such extension requirements as set forth in the Merger Agreement.

**Will you provide a subsequent offering period?** 

We do not presently intend to offer a subsequent offering period.

**How will I be notified if the Offer is extended?** 

If we extend the Offer, we will inform the Paying Agent of that fact and will make a public announcement of the extension no later than 9:00 a.m., Eastern Time, on the business day after the day on which the Offer was scheduled to expire.

**How do I tender my Shares?** 

If you wish to accept the Offer, this is what you must do:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are a record holder (i.e., a stock certificate or uncertificated stock in book-entry form has been issued
to you), you must complete and sign the enclosed Letter of Transmittal in accordance with the instructions provided therein, and send it with your stock certificates (if applicable) and any other documents required in the Letter of Transmittal to
the Paying Agent or follow the procedures for book-entry transfer set forth in Section 3 of this Offer to Purchase. These materials must be received by the Paying Agent prior to the Expiration Date. Detailed instructions are contained in the
Letter of Transmittal and in "The Offer—Section 3—Procedures for Tendering Shares."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are a record holder and your stock is certificated but your stock certificate is not available or you
cannot deliver it to the Paying Agent prior to the expiration of the Offer, or you cannot complete the procedure for delivery of book-entry transfer prior to the Expiration Date, you may be able to tender your Shares using the enclosed Notice of
Guaranteed Delivery. Please call Innisfree M&A Incorporated, the information agent for the Offer (the "**Information Agent** "), at +1 (877) 687-1871 (toll-free from the United States and
Canada) or +1 (412) 232-3651 (from other countries) for assistance. Banks and brokers may call collect at +1 (212) 750-5833. See "The
Offer—Section 3—Procedures for Tendering Shares" for further details.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you hold your Shares through a broker, dealer, commercial bank, trust company or other nominee, you must
contact your broker, dealer, commercial bank, trust company or other nominee and give instructions that your Shares be tendered.

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**How do I tender Shares that are not represented by a certificate?** 

If you directly hold uncertificated Shares in an account with Inozyme's transfer agent, Computershare Trust Company, N.A., you should follow the instructions for book-entry transfer of your Shares as described in Section 3 of this Offer to Purchase and in the attached Letter of Transmittal. If you hold your uncertificated Shares through a broker, dealer, commercial bank, trust company or other nominee, you must contact your broker, dealer, commercial bank, trust company or other nominee and give instructions that your Shares be tendered.

**Until what time can I withdraw tendered Shares?** 

You can withdraw some or all of the Shares that you previously tendered in the Offer at any time prior to the Expiration Date. Further, if we have not accepted your Shares for payment by August 1, 2025, you may withdraw them at any time after August 1, 2025. Once we accept your tendered Shares for payment upon the Expiration Date, you will no longer be able to withdraw them. See "The Offer—Section 4—Withdrawal Rights."

**How do I withdraw tendered Shares?** 

To withdraw Shares that you previously tendered in the Offer, you must deliver a written notice of withdrawal, or a facsimile of one, which includes the required information, to the Paying Agent while you have the right to withdraw such Shares. If you tendered Shares by giving instructions to a broker, dealer, commercial bank, trust company or other nominee, then you must instruct the broker, dealer, commercial bank, trust company or other nominee to arrange to withdraw the Shares. See "The Offer—Section 4—Withdrawal Rights."

**Who can participate in the Offer?** 

The Offer is open to all record holders and beneficial owners of Shares.

**Can holders of stock options and/or restricted stock units participate in the Offer?** 

The Offer is only for the outstanding shares of common stock of Inozyme that are not subject to vesting conditions and not for (a) any options to purchase Shares, whether granted under an Inozyme Equity Plan (as defined below) or otherwise ("**Inozyme Options**") or (b) any restricted stock units with respect to Shares ("**Inozyme RSUs**" and together with the Inozyme Options, the "**Inozyme Awards**"). If you hold unexercised Inozyme Options and you wish to participate in the Offer, you must exercise your Inozyme Options (to the extent they are exercisable) in accordance with the terms of the award agreement and tender such Shares received upon the exercise in accordance with the terms of the Offer. "**Inozyme Equity Plan**" means each of Inozyme's Amended and Restated 2017 Equity Incentive Plan, as amended, 2020 Stock Incentive Plan and 2023 Inducement Stock Incentive Plan, as amended. The effective time of the Merger (being such date and at such time as the certificate of merger in respect of the Merger is duly filed with the Secretary of State of the State of Delaware or at such later time and date as may be agreed upon by the parties to the Merger Agreement in writing and specified in the certificate of merger in accordance with the DGCL) is referred to as the "**Merger Effective Time**."

Pursuant to the Merger Agreement, except as otherwise agreed between Parent and the holder of the relevant Inozyme Awards in writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Inozyme Option that is outstanding as of immediately prior to the Merger Effective Time, to the extent unvested, will automatically accelerate and become fully vested and exercisable effective immediately prior to, and contingent upon, the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or

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Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is less than the Merger Consideration (each, an "**In-the-Money Option**") will be cancelled and converted into the right to receive cash in an amount equal to the product of (i) the total number of Shares subject to such fully vested In-the-Money Option immediately prior to the Merger Effective Time, multiplied by (ii) the excess, if any, of (x) the Merger Consideration minus (y) the exercise price payable per Share under such In-the-Money Option, which amount will be subject to any applicable withholding of taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is equal to or more than the Merger Consideration will be canceled without any consideration payable (whether in the form of cash or otherwise) therefor, whether before or after the Merger Effective Time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Inozyme RSU that is outstanding as of immediately prior to the Merger Effective Time will automatically accelerate and become fully vested immediately prior to, and contingent upon, the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme RSU that is then outstanding as of immediately prior to the Merger Effective Time will be canceled and converted into the right to receive cash in an amount equal to the product of (i) the total number of Shares issuable in settlement to such Inozyme RSU, immediately prior to the Merger Effective Time, multiplied by (ii) the Merger Consideration, which amount will be subject to any applicable withholding of taxes.

**How will the Inozyme ESPP be treated?** 

On May 30, 2025, the compensation committee of the Inozyme Board (the **"Compensation Committee**") adopted such resolutions to provide that, with respect to Inozyme's 2020 Employee Stock Purchase Plan (as amended, the "**Inozyme ESPP**"): (a) the final exercise date will be such date as Inozyme determines in its sole discretion (provided that such date will be no later than the date that is five (5) calendar days prior to the Merger Effective Time (the "**Final Exercise Date**")), (b) each Inozyme ESPP participant's accumulated contributions under the Inozyme ESPP will be used to purchase Shares in accordance with the terms of the Inozyme ESPP as of the Final Exercise Date, (c) the Inozyme ESPP will terminate on the date immediately prior to the date on which the Merger Effective Time occurs and no further rights will be granted or exercised under the Inozyme ESPP thereafter, (d) each individual participating in the Offering (as defined in the Inozyme ESPP) in progress on the date of the Merger Agreement (the "**Final Offering**") will not be permitted to increase the percentage of his or her earnings (as defined in the Final Offering documents) pursuant to the Inozyme ESPP from the individual's applicable elected percentage of earnings that was in effect when that Offering commenced, or make any non-payroll contributions to the Inozyme ESPP on or following the date of the Merger Agreement, (e) except for the Final Offering, no offering period under the Inozyme ESPP will be authorized or commenced on or after the date of the Merger Agreement, (f) the applicable purchase price for Shares will not be decreased below the levels set forth in the Inozyme ESPP as of the date of the Merger Agreement and (g) no further rights are granted under the Inozyme ESPP after the Merger Effective Time. All Shares purchased on the Final Exercise Date will be cancelled at the Merger Effective Time and converted into the right to receive the Merger Consideration.

**Have any stockholders already agreed to tender their Shares in the Offer or to otherwise support the Offer?** 

Yes. Concurrently with entry into the Merger Agreement, Parent entered into tender and support agreements (as they may be amended from time to time, the "**Support Agreements**"), dated as of May 16, 2025, with certain stockholders of Inozyme (collectively, the "**Supporting Stockholders**"). Collectively, the Supporting Stockholders had beneficial ownership of approximately 11.2% of the Shares (excluding Shares represented by vested and unvested Inozyme Options and Inozyme RSUs they hold) as of May 16, 2025.

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Each Support Agreement provides that the Supporting Stockholder will tender into the Offer, and not withdraw or cause to be withdrawn, all outstanding Shares each Supporting Stockholder owns of record or beneficially (within the meaning of Rule 13d-3 under the Exchange Act) as of the date of the Support Agreement (the "**Owned Shares**") or that the Supporting Stockholder acquires after such date (the "**Additional Owned Shares**" and, together with the Owned Shares, the "**Covered Shares**"). Each Supporting Stockholder's Covered Shares must be tendered into the Offer promptly, and in any event no later than the latest of (but in any event prior to the Expiration Date): (a) ten (10) business days following the commencement of the Offer; and (b) in the case of Additional Owned Shares, the earlier of (i) three (3) business days following the acquisition of such Additional Owned Shares and (ii) one (1) business day prior to the Expiration Date.

Each Supporting Stockholder has also agreed to vote, or execute consents with respect to, all of the Supporting Stockholder's Covered Shares (a) in favor of the approval of any proposal considered and voted upon by Inozyme stockholders at any meeting of the stockholders of Inozyme (or by written consent) necessary or desirable to effect the consummation of the Offer, Merger or the other Transactions; and (b) against (i) any proposal, action or agreement that would reasonably be expected to (A) prevent or nullify any provision of the Support Agreements, (B) result in a breach of any covenant, representation or warranty or other obligation or agreement of the Supporting Stockholders contained in the Support Agreement or Inozyme contained in the Merger Agreement, or (C) result in any of the Offer Conditions or conditions to the Merger as set forth in the Merger Agreement not being satisfied or not being fulfilled prior to the Termination Date (as defined in Section 3 of the Support Agreements), (ii) any Acquisition Proposal (as defined in the Merger Agreement and further discussed below), or any other proposal made in opposition to, in competition with, or inconsistent with, the Merger Agreement, the Offer, the Merger or the other Transactions, (iii) any (A) merger, consolidation, business combination, share exchange, reorganization, recapitalization, dissolution, liquidation, winding up or similar extraordinary transaction involving the Acquired Companies (as defined in the Merger Agreement), or (B) sale, lease, license or transfer involving the Company Product (as defined in the Merger Agreement) or a material amount of assets (including, for the avoidance of doubt, any Intellectual Property (as defined in the Merger Agreement) or capital stock of any subsidiary) of the Acquired Companies, taken as a whole, or agreement relating to the foregoing (other than the Merger Agreement and the Transactions), (iv) any change in or to (A) the Inozyme Board that is not recommended or approved by Inozyme Board, (B) the present capitalization or corporate structure of Inozyme or (C) the Certificate of Incorporation of Inozyme not consented to by Parent under the Merger Agreement and (v) any other action, agreement or proposal which would reasonably be expected to prevent or materially impede or materially delay the consummation of the Offer, the Merger or any of the other Transactions.

Each Support Agreement also limits the ability of the Supporting Stockholder to sell or otherwise transfer, encumber, grant proxies or enter into certain arrangements in respect of the Covered Shares.

Each Support Agreement will terminate automatically and without further action upon the earliest of (a) the valid termination of the Merger Agreement in accordance with its terms, (b) the Merger Effective Time, (c) any modification or amendment to the Merger Agreement or the Offer that is effected without the Supporting Stockholder's prior written consent and which modification or amendment decreases the Offer Price or changes the form of consideration payable to the Supporting Stockholder pursuant to the terms of the Merger Agreement, or (d) the mutual written consent of Parent and such Supporting Stockholder.

The foregoing summary of the Support Agreements does not purport to be complete and is qualified in its entirety by reference to the Form of Tender and Support Agreement, a copy of which Purchaser has filed with the SEC as Exhibit (d)(2) to the Tender Offer Statement on Schedule TO and is incorporated herein by reference.

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**Will the Offer be followed by a Merger if not all of the Shares are tendered in the Offer? If the Offer is completed, will Inozyme continue as a public company?** 

If the Minimum Condition is satisfied and the Offer is consummated, subject to the satisfaction or waiver of the other Offer Conditions, we will effect the Merger of Purchaser with and into Inozyme as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time in accordance with the terms and conditions of the Merger Agreement. The Merger will be governed by Section 251(h) of the DGCL and effected without a vote of the stockholders of Inozyme. Pursuant to the Merger Agreement, if the Minimum Condition is not satisfied, we are not required to (nor are we permitted without Inozyme's consent to) accept Shares for purchase in the Offer, nor will we be able to consummate the Merger.

However, if the Offer is consummated, we expect to complete the Merger pursuant to the relevant provisions of the DGCL and other applicable legal requirements, after which the separate existence of Purchaser will cease and Inozyme will continue as the surviving corporation and a wholly-owned subsidiary of Parent, and the Shares will no longer be publicly traded (following the Merger, we intend to cause the Shares to be delisted from Nasdaq and deregistered under the Exchange Act). In addition, if the Merger takes place, each Share outstanding immediately prior to the Merger Effective Time (other than (a) Shares held by Inozyme or held in Inozyme's treasury, (b) Shares held by Parent, Purchaser or any other direct or indirect wholly-owned subsidiary of Parent (the "**Excluded Shares**"), (c) Shares validly tendered and irrevocably accepted for purchase in the Offer and (d) Shares outstanding immediately prior to the Merger Effective Time that are held by holders who are entitled to appraisal rights under Section 262 of the DGCL and have properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262 of the DGCL and, as of the Merger Effective Time, have neither effectively withdrawn nor lost their rights to such appraisal and payment under the DGCL (the "**Dissenting Shares**")) will receive the price per Share paid in the Offer without interest and subject to any applicable withholding of taxes. See the "Introduction" to this Offer to Purchase and "The Offer—Section 12—Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights" and "The Offer—Section 13—The Transaction Documents—The Merger Agreement."

**If I decide not to tender, how will the Offer affect my Shares?** 

If the Merger is consummated between Inozyme and Purchaser, each Share that is not tendered by a stockholder of Inozyme and irrevocably accepted for purchase in the Offer (other than (a) Shares held by Inozyme or held in Inozyme's treasury, (b)Excluded Shares,(c) the Dissenting Shares and (d) any Shares validly tendered and irrevocably accepted for purchase pursuant to the Offer) will be automatically converted into the right to receive the Merger Consideration, in cash, without interest and subject to any applicable withholding of taxes. If we accept and purchase Shares in the Offer, we will consummate the Merger as soon as practicable without a vote of the stockholders of Inozyme, pursuant to the relevant provisions of the DGCL and other applicable legal requirements. Therefore, if the Merger takes place and you do not validly exercise your appraisal rights under Section 262 of the DGCL, the only difference to you between tendering your Shares and not tendering your Shares is that you will be paid earlier if you tender your Shares.

While we intend to consummate the Merger as soon as practicable after we consummate the Offer, if the Merger does not take place and the Offer is consummated, there may be so few remaining stockholders and publicly traded Shares that there will no longer be an active or liquid public trading market (or, possibly, any public trading market) for Shares held by stockholders other than Purchaser. We cannot predict whether the reduction in the number of Shares that might otherwise trade publicly would have an adverse or beneficial effect on the market price for, or marketability of, the Shares. Also, Inozyme may no longer be required to make filings with the SEC or otherwise may no longer be required to comply with the SEC rules relating to publicly held companies. See "The Offer—Section 7—Possible Effects of the Offer on the Market for the Shares; Stock Exchange Listing; Registration under the Exchange Act; Margin Regulations" and "The Offer—Section 13—The Transaction Documents—The Merger Agreement."

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Assuming the Minimum Condition is satisfied and we purchase the tendered Shares in the Offer, no stockholder vote will be required to consummate the Merger, and we do not expect there to be a significant period of time between the consummation of the Offer and the consummation of the Merger. See "The Offer—Section 12—Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights—No Stockholder Approval."

**Are appraisal rights available in either the Offer or the Merger?** 

No appraisal rights are available in connection with the Offer. However, pursuant to the DGCL, if the Offer is successful and the Merger is consummated, stockholders or beneficial owners of Inozyme who continuously held Shares from the date of the demand for appraisal through the Merger Effective Time who (a) did not tender their Shares in the Offer (or, if tendered, properly and subsequently withdrew such Shares prior to the Offer Acceptance Time); (b) are entitled to appraisal rights under Section 262 of the DGCL; (c) properly demanded appraisal of their Shares within the later of the date that is 20 days after the date on which the notice of appraisal rights under Section 262 was given and the consummation of the Offer and otherwise strictly and timely follow the procedures set forth in Section 262 of the DGCL; and (d) do not thereafter validly withdraw their demand for appraisal of such Shares or otherwise lose their appraisal rights, in each case in accordance with Section 262 of the DGCL, will be entitled to have such Shares appraised by the Delaware Court of Chancery if certain conditions set forth in Section 262(g) of the DGCL are satisfied and to receive, in lieu of the consideration payable in the Merger, payment equal to the "fair value" of their Shares exclusive of any element of value arising from the accomplishment or expectation of the Merger, together with interest, if any, to be paid on the amount determined to be the "fair value" of their Shares. The "fair value" of such Shares as of the Merger Effective Time could be more than, the same as or less than the consideration to be received pursuant to the Merger. See "The Offer—Section 12—Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights—Appraisal Rights."

**What is the market value of my Shares as of a recent date?** 

On May 15, 2025, the last full trading day before we announced our intention to commence the Offer, the closing price of the Shares on Nasdaq was $1.44 per share. On May 30, 2025, the last full trading day before the date of this Offer to Purchase, the closing price of the Shares on Nasdaq was $3.97. Please obtain a recent quotation for the Shares before deciding whether or not to tender your Shares.

**What are the material U.S. federal income tax consequences of exchanging my Shares pursuant to the Offer?** 

In general, your exchange of Shares for cash pursuant to the Offer will be a taxable transaction for U.S. federal income tax purposes and also may be a taxable transaction under applicable state, local or non-U.S. income or other tax laws. You should consult your tax advisor about the tax consequences to you of exchanging your Shares pursuant to the Offer in light of your particular circumstances. See "The Offer—Section 5—Material U.S. Federal Income Tax Consequences."

**Who can I talk to if I have questions about the Offer?** 

You can call Innisfree M&A Incorporated, the Information Agent, at +1 (877) 687-1871 (toll-free from the United States and Canada) or +1 (412) 232-3651 (from other countries) for assistance. Banks and brokers may call collect at +1 (212) 750-5833. See the back cover of this Offer to Purchase.

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To the Stockholders of Inozyme:

**INTRODUCTION** 

Incline Merger Sub, Inc., a Delaware corporation ("**Purchaser**") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("**Parent**"), is offering to acquire all of the outstanding shares (the "**Shares**") of common stock, par value $0.0001 per share, of Inozyme Pharma, Inc., a Delaware corporation ("**Inozyme**"), for $4.00 per Share (the "**Offer Price**"), in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in this Offer to Purchase and the related Letter of Transmittal (which, together with any amendments or supplements from time to time hereto and thereto, collectively constitute the "**Offer**"). Unless the context requires otherwise, the terms "we" and "our" refer to Purchaser.

If you are the record holder of your Shares (i.e., a stock certificate or uncertificated stock in book-entry form has been issued to you), you will not be required to pay brokerage fees, commissions or, except as set forth in Instruction 6 of the Letter of Transmittal, stock transfer taxes on the exchange of Shares for cash pursuant to the Offer. However, if you do not complete and sign the IRS Form W-9 that is included in the Letter of Transmittal (or other applicable form), you may be subject to backup withholding at a current rate of 24% on the gross proceeds payable to you. See "The Offer—Section 3—Procedures for Tendering Shares-Backup Withholding." Backup withholding is not an additional tax, and any amounts withheld under the backup withholding rules will be refunded or credited against your U.S. federal income tax liability, provided the required information is timely furnished to the Internal Revenue Service. Stockholders with Shares held in street name by a broker, dealer, commercial bank, trust company or other nominee should consult with their nominee to determine if they will be charged any transaction fees. We will pay all charges and expenses of Computershare Trust Company, N.A., the paying agent for the Offer (the "**Paying Agent**"), and Innisfree M&A Incorporated, the information agent for the Offer (the "**Information Agent**"), incurred in connection with the Offer. See "The Offer—Section 17—Fees and Expenses."

We are making the Offer pursuant to the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time, the "**Merger Agreement**"), by and among Inozyme, Parent and Purchaser. The Merger Agreement provides, among other things, that as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser will merge with and into Inozyme (the "**Merger**"), with Inozyme continuing as the surviving corporation and a wholly-owned subsidiary of Parent (the "**Surviving Corporation**"). The effective time of the Merger (being such date and at such time as the certificate of merger in respect of the Merger is duly filed with the Secretary of State of the State of Delaware or at such later time and date as may be agreed upon by the parties to the Merger Agreement in writing and specified in the certificate of merger in accordance with the Delaware General Corporation Law (the "**DGCL**")) is referred to as the "**Merger Effective Time**." As of the Merger Effective Time, each outstanding Share (other than (a) Shares held by Inozyme (including Shares held in Inozyme's treasury), (b) Shares held by Parent, Purchaser or any other direct or indirect wholly-owned subsidiary of Parent (the "**Excluded Shares**"), (c) Shares validly tendered and irrevocably accepted for purchase in the Offer and (d) Shares outstanding immediately prior to the Merger Effective Time that are held by holders who are entitled to appraisal rights under Section 262 of the DGCL and have properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262 of the DGCL and, as of the Merger Effective Time, have neither effectively withdrawn nor lost their rights to such appraisal and payment under the DGCL (the "**Dissenting Shares**")) will receive the price per Share paid in the Offer without interest and subject to any applicable withholding of taxes. The Merger is subject to the satisfaction or waiver of certain conditions described in "The Offer—Section 13—The Transaction Documents—The Merger Agreement—Conditions to the Merger." "The Offer—Section 13—The Transaction Documents—The Merger Agreement" contains a more detailed description of the Merger Agreement. "The Offer—Section 5—Material U.S. Federal Income Tax Consequences" summarizes the material U.S. federal income tax consequences of the sale of Shares in the Offer.

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The Offer is only for the outstanding shares of common stock of Inozyme that are not subject to vesting conditions and not for (a) any options to purchase Shares, whether granted under an Inozyme Equity Plan (as defined below) or otherwise ("**Inozyme Options**") or (b) any restricted stock units with respect to Shares ("**Inozyme RSUs**" and together with the Inozyme Options, the "**Inozyme Awards**"). If you hold unexercised Inozyme Options and you wish to participate in the Offer, you must exercise your Inozyme Options (to the extent they are exercisable) in accordance with the terms of the award agreement and tender such Shares received upon the exercise in accordance with the terms of the Offer. "**Inozyme Equity Plan**" means each of Inozyme's Amended and Restated 2017 Equity Incentive Plan, as amended, 2020 Stock Incentive Plan and 2023 Inducement Stock Incentive Plan as amended.

However, if you do not or are unable to tender Shares underlying your Inozyme Awards in the Offer, then pursuant to the Merger Agreement, except as otherwise agreed between Parent and the holder of the relevant Inozyme Awards in writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Inozyme Option that is outstanding as of immediately prior to the Merger Effective Time, to the extent unvested, will automatically accelerate and become fully vested and exercisable effective immediately prior to, and contingent upon the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is less than the Merger Consideration (each, an "**In-the-Money Option**") will be cancelled and converted into the right to receive cash in an amount equal to the product of (i) the total number of Shares subject to such fully vested In-the-Money Option immediately prior to the Merger Effective Time, multiplied by (ii) the excess, if any, of (x) the Merger Consideration minus (y) the exercise price payable per Share under such In-the-Money Option, which amount will be subject to any applicable withholding of taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is equal to or more than the Merger Consideration will be canceled without any consideration payable (whether in the form of cash or otherwise) therefor, whether before or after the Merger Effective Time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Inozyme RSU that is outstanding as of immediately prior to the Merger Effective Time will automatically accelerate and become fully vested immediately prior to, and contingent upon, the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme RSU that is then outstanding as of immediately prior to the Merger Effective Time will be canceled and converted into the right to receive cash in an amount equal to the product of (i) the total number of Shares issuable in settlement to such Inozyme RSU, immediately prior to the Merger Effective Time, multiplied by (ii) the Merger Consideration, which amount will be subject to any applicable withholding of taxes.

On May 30, 2025, the Compensation Committee adopted such resolutions to provide that, with respect to Inozyme's 2020 Employee Stock Purchase Plan (the "**Inozyme ESPP**"): (a) the final exercise date will be such date as Inozyme determines in its sole discretion (provided that such date will be no later than the date that is five (5) calendar days prior to the Merger Effective Time (the "**Final Exercise Date**")), (b) each Inozyme ESPP participant's accumulated contributions under the Inozyme ESPP will be used to purchase Shares in accordance with the terms of the Inozyme ESPP as of the Final Exercise Date, (c) the Inozyme ESPP will terminate on the date immediately prior to the date on which the Merger Effective Time occurs and no further rights will be granted or exercised under the Inozyme ESPP thereafter, (d) each individual participating in the Offering (as defined in the Inozyme ESPP) in progress on the date of the Merger Agreement (the "**Final Offering**") will not be permitted to increase the percentage of his or her earnings (as defined in the Final Offering documents) pursuant to the Inozyme ESPP from the individual's applicable elected percentage of earnings that was in effect when that Offering commenced, or make any non-payroll contributions to the Inozyme ESPP on or following the

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date of the Merger Agreement, (e) except for the Final Offering, no offering period under the Inozyme ESPP will be authorized or commenced on or after the date of the Merger Agreement, (f) the applicable purchase price for Shares will not be decreased below the levels set forth in the Inozyme ESPP as of the date of the Merger Agreement and (g) no further rights are granted under the Inozyme ESPP after the Merger Effective Time. All Shares purchased on the Final Exercise Date will be cancelled at the Merger Effective Time and converted into the right to receive the Merger Consideration.

**Inozyme's board of directors (the "Inozyme Board"), at a meeting duly called and held, unanimously: (a) determined that the Merger Agreement and all of the transactions contemplated by the Merger Agreement, including the Offer and the Merger (the "Transactions"), are advisable, fair to, and in the best interest of, Inozyme and its stockholders, (b) approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the Transactions, on the terms and subject to the conditions set forth in the Merger Agreement, (c) resolved that the Merger will be effected under Section 251(h) of the DGCL, and (d) resolved to recommend that the holders of Shares tender their Shares to Purchaser pursuant to the Offer.** 

Inozyme will file a Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC (together with any exhibits, amendments or supplements thereto, the "**Schedule 14D-9**") and disseminate the Schedule 14D-9 to holders of Shares, in connection with the Offer. The Schedule 14D-9 will include a more complete description of the Inozyme Board's reasons for approving the Merger Agreement and the transactions contemplated thereby. Therefore, stockholders of Inozyme are encouraged to review the Schedule 14D-9 carefully and in its entirety.

Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-l(c) under the Exchange Act relating to Purchaser's obligation to pay for or return tendered Shares promptly after termination or withdrawal of the Offer) pay for, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn) as of immediately prior to the Offer, and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares (a) if the Merger Agreement has been terminated in accordance with its terms; and (b) at any scheduled Expiration Date (subject to any extensions of the Offer pursuant to the Merger Agreement), if any of the (i) any of the Minimum Condition, the Termination Condition, the Order Condition or the Regulatory Condition is not satisfied by the Expiration Date or (ii) any of the other Offer Conditions will not be satisfied or waived in writing by Parent as of the Expiration Date. The Offer is not conditioned upon Parent or Purchaser obtaining financing or the funding thereof. These and other conditions to the Offer are described in "The Offer—Section 15—Conditions to the Offer" and "The Offer—Section 16—Certain Legal Matters; Regulatory Approvals."

According to Inozyme, as of the close of business on May 29, 2025 (the "**Reference Date**"), the most recent practicable date, (a) 64,915,697 Shares were issued and outstanding, (b) 9,923,371 Shares were subject to issuance pursuant to outstanding Inozyme Options, (c) 566,400 Shares were subject to or otherwise deliverable in connection with outstanding Inozyme RSUs, (d) 1,888,987 Shares were reserved for future issuance under the Inozyme Equity Plans and (e) 1,602,331 Shares were reserved for issuance pursuant to the Inozyme ESPP.

Assuming no additional Shares are issued prior to the Expiration Date and based on the Shares outstanding as of the Reference Date, we anticipate that the Minimum Condition would be satisfied if approximately 32,457,850 Shares are validly tendered and not validly withdrawn pursuant to the Offer prior to the Expiration Date (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)).

We currently intend, as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, to consummate the Merger pursuant to the Merger Agreement. Following the Merger, the directors of Purchaser will be the directors of Inozyme.

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Section 251(h) of the DGCL provides that, subject to certain statutory provisions, if following consummation of a tender offer for any and all shares of a public Delaware corporation that would otherwise be entitled to vote on a merger (other than shares held by the acquiring entity and its affiliates), the stock irrevocably accepted for purchase pursuant to such offer and received by the Paying Agent, prior to the expiration of such offer, plus the stock otherwise owned by the acquiring entity equals at least the amount of shares of each class of stock of the target corporation that would otherwise be required for the stockholders of the target corporation to adopt a merger agreement with the acquiring entity, and each share of each class or series of stock of the target corporation not irrevocably accepted for purchase in the offer is converted into the right to receive the same consideration for their stock in the merger as was payable in the tender offer, the target corporation can effect a merger without the vote of the stockholders of the target corporation. Therefore, the parties have agreed, and the Merger Agreement requires, that, subject to the conditions specified in the Merger Agreement, the Merger will become effective as soon as practicable after the consummation (within the meaning of Section 251(h) of the DGCL) of the Offer, without a vote of Inozyme stockholders, in accordance with Section 251(h) of the DGCL. See "The Offer—Section 12—Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights."

The Offer is conditioned upon the fulfillment of the conditions described in "The Offer—Section 15—Conditions to the Offer." The Offer will expire one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless the Offer is extended or earlier terminated as permitted by the Merger Agreement. See "The Offer—Section 13—The Transaction Documents—The Merger Agreement—Extensions of the Offer."

This Offer to Purchase does not constitute a solicitation of proxies, and Purchaser is not soliciting proxies in connection with the Offer or the Merger. If the Minimum Condition is satisfied and Purchaser consummates the Offer, Purchaser will consummate the Merger pursuant to Section 251(h) of the DGCL without a vote of Inozyme's stockholders.

**THIS OFFER TO PURCHASE AND THE RELATED LETTER OF TRANSMITTAL CONTAIN IMPORTANT INFORMATION, AND YOU SHOULD CAREFULLY READ BOTH IN THEIR ENTIRETY BEFORE YOU MAKE A DECISION WITH RESPECT TO THE OFFER.** 

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**THE OFFER** 

**1. Terms of the Offer** 

Upon the terms and subject to the conditions of the Offer, we will accept for payment and pay for all Shares that are validly tendered and not validly withdrawn in accordance with the procedures set forth in "—Section 3—Procedures for Tendering Shares" at or prior to the Expiration Date (as defined below). The Offer will expire one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless extended or earlier terminated as permitted by the Merger Agreement (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the "**Expiration Date**"). No "subsequent offering period" in accordance with Rule 14d-11 of the Exchange Act will be available.

The Offer is subject to the conditions (the "**Offer Conditions**") set forth in "—Section 15—Conditions to the Offer," which include, among other things, satisfaction of the Minimum Condition, the Regulatory Condition and the Obligations Condition. See "—Section 16—Certain Legal Matters; Regulatory Approvals." Subject to the satisfaction and waiver of the conditions to the Offer, we will accept and pay for all Shares validly tendered and not validly withdrawn pursuant to the Offer promptly after the Expiration Date.

Pursuant to the terms of the Merger Agreement, if, at the scheduled Expiration Date, any of the Offer Conditions have not been satisfied or waived, then, we will, and Parent will require us to, extend the Offer on one or more occasions (in consecutive increments), for an additional period of up to ten (10) business days per extension, to permit such Offer Condition to be satisfied; and we will, and Parent will require us to, extend the Offer from time to time for the minimum period required by applicable law, any interpretation or position of the SEC or its staff or the Nasdaq Stock Market LLC (the "**Nasdaq**") or its staff, applicable to the Offer.

In no event will we (or Parent) (a) be required to extend the Offer beyond the earliest to occur of (the "**Extension Deadline**") (i) the valid termination of the Merger Agreement and (ii) the first business day immediately following the End Date (as defined below); or (b) be permitted to extend the Offer beyond the Extension Deadline without the prior written consent of Inozyme. We will not, and Parent will not permit Purchaser to, extend the Offer in any manner except as required or expressly permitted as set forth in this paragraph. See "—Section 1—Terms of the Offer." The "**End Date**" means midnight Eastern Time on November 16, 2025, which End Date will be extended for an additional three months to February 16, 2026 if the Regulatory Condition has not been satisfied at such time.

Purchaser has the right, to the extent permitted by applicable law, to (a) increase the Offer Price, (b) waive any Offer Condition other than the Minimum Condition, the Termination Condition, the Order Condition, or the Regulatory Condition and (c) make any other changes in the terms and conditions of the Offer not inconsistent with the terms of the Merger Agreement.

However, without Inozyme's prior written consent, Purchaser is not permitted to (a) decrease the Offer Price, (b) change the form of consideration payable in the Offer, (c) decrease the maximum number of Shares sought to be purchased in the Offer, (d) impose any conditions or requirements to the Offer in addition to the Offer Conditions, (e) amend, modify or supplement any of the terms of the Offer in a manner that adversely affects, or would reasonably be expected to adversely affect, any holder of Shares or that would, individually or in the aggregate, reasonably be expected to prevent or delay the consummation of the Offer or prevent, delay or impair the ability of Parent or Purchaser to consummate the Offer, the Merger or the other Transactions, (f) amend, modify, change or waive the Minimum Condition, the Termination Condition, the Order Condition or the Regulatory Condition, (g) terminate or withdraw the Offer (unless the Merger Agreement is validly terminated in accordance with its terms) or accelerate, extend or otherwise change the Expiration Date, except in accordance with the terms of the Merger Agreement provide any "subsequent offering period" within the meaning of Rule 14d-11 promulgated under the Exchange Act, or (h) take any action (or fail to take any action) that would result in the Merger not being permitted to be effected pursuant to Section 251(h) of the DGCL.

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If we make a material change to the terms of the Offer or waive a material condition to the Offer, we will extend the Offer and disseminate additional tender offer materials, in each case, to the extent required by applicable law. The minimum period during which a tender offer must remain open following material changes in the terms of the offer, other than a change in price or a change in percentage of securities sought, depends upon the facts and circumstances, including the materiality of the changes. In a published release, the SEC has stated that in its view an offer must remain open for a minimum period of time following a material change in the terms of such offer and that the waiver of a condition such as the Minimum Condition is a material change in the terms of an offer. The release states that an offer should remain open for a minimum of five (5) business days from the date the material change is first published, sent or given to stockholders, and that if material changes are made with respect to information that approaches the significance of price and the percentage of securities sought (including, for the avoidance of doubt, a change in price or percentage of securities sought), a minimum of ten (10) business days generally is required to allow adequate dissemination and investor response. **If, prior to the Expiration Date, Purchaser increases the consideration being paid for Shares accepted for payment pursuant to the Offer, such increased consideration will be paid to all stockholders whose Shares are purchased pursuant to the Offer, whether or not such Shares were tendered prior to the announcement of the increase in consideration.**

Any extension, termination or amendment of the Offer will be followed as promptly as practicable by a public announcement thereof. Without limiting the manner in which we may choose to make any public announcement, we will have no obligation (except as otherwise required by applicable law) to publish, advertise or otherwise communicate any such public announcement other than by issuing a press release to a national news service. In the case of an extension of the Offer, we will make a public announcement of such extension no later than 9:00 a.m., Eastern Time, on the next business day after the previously scheduled Expiration Date.

The Merger Agreement does not contemplate a subsequent offering period for the Offer.

As soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser and Parent expect to complete the Merger without a vote of the stockholders of Inozyme pursuant to Section 251(h) of the DGCL. We do not expect there to be a significant period of time between the consummation of the Offer and the consummation of the Merger.

Inozyme has provided Purchaser with its stockholder list, security position listings and certain other information regarding the beneficial owners of Shares for the purpose of disseminating the Offer to holders of Shares. We will send this Offer to Purchase, the related Letter of Transmittal and other related documents to record holders of Shares and to brokers, dealers, commercial banks, trust companies and other nominees whose names appear on the stockholder list or, if applicable, who are listed as participants in a clearing agency's security position listing for subsequent transmittal to beneficial owners of Shares.

**2. Acceptance for Payment and Payment for Shares** 

Upon the terms and subject to the Offer Conditions, we will, at or promptly following the satisfaction or, to the extent waivable by Parent or Purchaser, waiver of the Offer Conditions, accept for payment (such time of acceptance for payment, the "**Offer Acceptance Time**") and, at or promptly following the Offer Acceptance Time, pay for, all Shares validly tendered and not validly withdrawn pursuant to the Offer prior to the Expiration Date. For information with respect to approvals or other actions that we are or may be required to obtain prior to the completion of the Offer, including under the HSR Act, see "—Section 16—Certain Legal Matters; Regulatory Approvals."

We will pay for Shares accepted for payment pursuant to the Offer by depositing the purchase price with the Paying Agent, which will act as your agent for the purpose of receiving payments from Purchaser and transmitting such payments to you. Upon the deposit of such funds with the Paying Agent, Purchaser's obligation

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to make such payment will be satisfied in full, and tendering stockholders must thereafter look solely to the Paying Agent for payment of amounts owed to them by reason of the acceptance for payment of Shares pursuant to the Offer.

In all cases, payment for Shares accepted for payment will be made only after timely receipt by the Paying Agent of (a) certificates for such Shares (or of a confirmation of a book-entry transfer of such Shares into the Paying Agent's account at the Book-Entry Transfer Facility (as defined below)), (b) a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof), with any required signature guarantees, or in connection with a book-entry transfer, an Agent's Message (defined in "—Section 3—Procedures for Tendering Shares—Book-Entry Delivery") and (c) any other required documents. For a description of the procedures for tendering Shares pursuant to the Offer, see "—Section 3—Procedures for Tendering Shares." Accordingly, payment may be made to tendering stockholders at different times if delivery of the Shares and other required documents occurs at different times.

For the purposes of the Offer, we will be deemed to have accepted for payment tendered Shares when, as and if we give oral or written notice of our acceptance to the Paying Agent.

**Under no circumstances will we pay interest on the consideration paid for Shares pursuant to the Offer, regardless of any extension of the Offer or any delay in making such payment.** 

If we do not accept for payment any tendered Shares pursuant to the Offer for any reason, or if you submit certificates for more Shares than are tendered, we will return certificates (or cause to be issued new certificates) representing unpurchased or untendered Shares, without expense to you (or, in the case of Shares delivered by book-entry transfer into the Paying Agent's account at the Book-Entry Transfer Facility pursuant to the procedures set forth in "—Section 3—Procedures for Tendering Shares," the Shares will be credited to an account maintained at the Depository Trust Company (the "**Book-Entry Transfer Facility**")), promptly following the expiration, termination or withdrawal of the Offer.

We reserve the right to transfer or assign, in accordance with the terms of the Merger Agreement, in whole or from time to time in part, to one or more of our affiliates the right to purchase Shares tendered pursuant to the Offer (*provided* that such assignment will not impede or delay the consummation of the Transactions or otherwise impede the rights of the stockholders of Inozyme under the Merger Agreement), but any such transfer or assignment will not relieve Parent of its obligations under the Merger Agreement.

**3. Procedures for Tendering Shares** 

***Valid Tender of Shares***

Except as set forth below, in order for you to tender Shares in the Offer, the Paying Agent must receive the Letter of Transmittal (or a manually signed facsimile thereof), properly completed and signed, together with any required signature guarantees, or an Agent's Message (as defined below) in connection with a book-entry delivery of Shares, and any other required documents, at one of its addresses set forth on the back cover of this Offer to Purchase on or prior to the Expiration Date and either (a) you must deliver certificates for the Shares representing tendered Shares to the Paying Agent or you must cause your Shares to be tendered pursuant to the procedure for book-entry transfer set forth below and the Paying Agent must receive timely confirmation of the book-entry transfer of the Shares into the Paying Agent's account at the Book-Entry Transfer Facility or (b) you must comply with the guaranteed delivery procedures set forth below.

**The method of delivery of Shares, including through the Book-Entry Transfer Facility, and all other required documents, is at your election and sole risk, and delivery will be deemed made only when actually received by the Paying Agent. If certificates for Shares are sent by mail, we recommend that you use registered mail with return receipt requested, properly insured, in time to be received on or prior to the Expiration Date. In all cases, you should allow sufficient time to ensure timely delivery.** 

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The tender of Shares pursuant to any one of the procedures described above will constitute your acceptance of the Offer, as well as your representation and warranty that (a) you own the Shares being tendered, (b) you have the full power and authority to tender, sell, assign and transfer the Shares tendered, as specified in the Letter of Transmittal and (c) when the Shares are accepted for payment by Purchaser, we will acquire good and unencumbered title thereto, free and clear of any liens, restrictions, charges or encumbrances and not be subject to any adverse claims. Our acceptance for payment of Shares tendered by you pursuant to the Offer will constitute a binding agreement between Purchaser with respect to such Shares, upon the terms and subject to the Offer Conditions.

***Book-Entry Delivery***

The Paying Agent has established or will establish an account with respect to the Shares for the purposes of the Offer at the Book-Entry Transfer Facility. Any financial institution that is a participant in the system of the Book-Entry Transfer Facility may deliver Shares by causing the Book-Entry Transfer Facility to transfer such Shares into the Paying Agent's account in accordance with the procedures of the Book-Entry Transfer Facility.

However, although delivery of Shares may be effected through book-entry transfer, either the Letter of Transmittal (or a manually signed facsimile thereof) properly completed and duly executed together with any required signature guarantees or an Agent's Message in lieu of the Letter of Transmittal and any other required documents must, in any case, be received by the Paying Agent at one of its addresses set forth on the back cover of this Offer to Purchase by the Expiration Date, or the guaranteed delivery procedure described below must be complied with.

"**Agent's Message**" means a message transmitted by the Book-Entry Transfer Facility to, and received by, the Paying Agent and forming a part of a book-entry confirmation stating that the Book-Entry Transfer Facility has received an express acknowledgment from the participant in the Book-Entry Transfer Facility tendering the Shares that are the subject of such book-entry confirmation that such participant has received and agrees to be bound by the terms of the Letter of Transmittal and that we may enforce that agreement against the participant.

Required documents must be transmitted to and received by the Paying Agent at one of its addresses set forth on the back cover page of this Offer to Purchase prior to the Expiration Date. **Delivery of the enclosed Letter of Transmittal and any other required documents to the Book-Entry Transfer Facility does not constitute delivery to the Paying Agent**.

***Signature Guarantees***

All signatures on a Letter of Transmittal must be guaranteed by a financial institution (including most banks, savings and loan associations and brokerage houses) that is a member of a recognized Medallion Program approved by The Securities Transfer Association, Inc., including the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP) and the New York Stock Exchange, Inc. Medallion Signature Program (MSP) or any other "eligible guarantor institution" (as such term is defined in Rule 17Ad-15 under the Exchange Act) (each, an "**Eligible Institution**"), unless the Shares tendered are tendered (a) by a registered holder of Shares who has not completed either the box labeled "Special Payment Instructions" or the box labeled "Special Delivery Instructions" on the Letter of Transmittal or (b) for the account of an Eligible Institution. See Instructions 1 and 5 of the Letter of Transmittal.

If the Shares are certificated and are registered in the name of a person other than the signer of the Letter of Transmittal, or if payment is to be made to, or certificates for the Shares for unpurchased Shares are to be issued or returned to, a person other than the registered holder, then the tendered certificates for the Shares must be endorsed or accompanied by appropriate stock powers, signed exactly as the name or names of the registered holder or holders appear on the certificates for the Shares, with the signatures on the certificates for the Shares or stock powers guaranteed by an Eligible Institution as provided in the Letter of Transmittal. See Instructions 1 and 5 of the Letter of Transmittal.

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If the Shares are certificated and the certificates representing the Shares are forwarded separately to the Paying Agent, a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) must accompany each delivery of certificates for the Shares.

***Guaranteed Delivery***

If you wish to tender Shares pursuant to the Offer and cannot deliver such Shares and all other required documents to the Paying Agent or cannot complete the procedure for delivery by book-entry transfer prior to the Expiration Date, you may nevertheless tender such Shares if all of the following conditions are met:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• such tender is made by or through an Eligible Institution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a properly completed and duly executed Notice of Guaranteed Delivery in the form provided by Purchaser with this
Offer to Purchase is received by the Paying Agent by the Expiration Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the certificates for all such tendered Shares (or a confirmation of a book-entry transfer of such Shares into the
Paying Agent's account at the Book-Entry Transfer Facility), together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) together with any required signature guarantee (or an Agent's
Message) and any other required documents, are received by the Paying Agent within one trading day after the date of execution of the Notice of Guaranteed Delivery.

The Notice of Guaranteed Delivery may be transmitted by facsimile transmission or mailed to the Paying Agent and must include a guarantee by an Eligible Institution in the form set forth in such Notice.

***Backup Withholding***

Under U.S. federal income tax laws, the Paying Agent generally will be required to withhold at the applicable backup withholding rate (currently 24%) from any payments made to U.S. persons pursuant to the Offer, unless you provide the Paying Agent with your correct taxpayer identification number and certify that you are not subject to such backup withholding by completing the IRS Form W-9 included in the Letter of Transmittal or otherwise establish an exemption from backup withholding. If you are a non-U.S. person, you generally will not be subject to backup withholding if you certify your foreign status on the appropriate IRS Form W-8. For additional discussion of backup withholding, see "The Offer—Section 5—Material U.S. Federal Income Tax Consequences of Tendering Shares Pursuant to the Offer—Information Reporting and Backup Withholding."

***Appointment of Proxy***

By executing a Letter of Transmittal, you irrevocably appoint Parent as your attorney-in-fact and proxy, with full power of substitution, in the manner set forth in the Letter of Transmittal to the full extent of your rights with respect to the Shares tendered and accepted for payment by Purchaser (and any and all other Shares or other securities issued or issuable in respect of such Shares on or after the date of this Offer to Purchase). Such power of attorney and proxy are irrevocable and coupled with an interest in the tendered Shares. Such appointment is effective only upon our acceptance for payment of such Shares in accordance with the terms of the Offer. Upon such acceptance for payment, all prior powers of attorney and proxies and consents granted by you with respect to such Shares and other securities will, without further action, be revoked, and no subsequent powers of attorney or proxies may be given nor subsequent written consents executed (and, if previously given or executed, will cease to be effective). Upon such acceptance for payment, our designees will be empowered to exercise all of your voting and other rights as they, in their sole discretion, may deem proper at any annual, special or adjourned meeting of Inozyme's stockholders, by written consent or otherwise. We reserve the right to require that, in order for Shares to be validly tendered, immediately upon our acceptance for payment of such Shares, we are able to exercise full voting rights with respect to such Shares and other securities (including voting at any meeting of stockholders then scheduled or acting by written consent without a meeting).

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**The foregoing power of attorney and proxy are effective only upon acceptance for payment of Shares pursuant to the Offer. The Offer does not constitute a solicitation of proxies, absent a purchase of Shares, for any meeting of Inozyme's stockholders.** 

***Determination of Validity***

We will determine, in our sole discretion, all questions as to the form of documents and the validity, eligibility (including time of receipt) and acceptance for payment of any tender of Shares, and our determination will be final and binding. We reserve the absolute right to reject any or all tenders of Shares that we determine not to be in proper form or the acceptance for payment of or payment for which may, in the opinion of our counsel, be unlawful. We also reserve the absolute right to waive any defect or irregularity in any tender of Shares. No tender of Shares will be deemed to have been validly made until all defects and irregularities with respect to such tender have been cured or waived. None of Purchaser, the Paying Agent, the Information Agent or any other person will be under any duty to give notification of any defect or irregularity in tenders or waiver of any such defect or irregularity or incur any liability for failure to give any such notification. Subject to applicable law as applied by a court of competent jurisdiction, our interpretation of the terms and conditions of the Offer (including the Letter of Transmittal and the instructions thereto) will be final and binding. Tendering stockholders have the right to challenge our determination with respect to their Shares.

**4. Withdrawal Rights** 

Except as described in this Section 4, tenders of Shares made in the Offer are irrevocable. You may withdraw some or all of the Shares that you have previously tendered in the Offer at any time before the Expiration Date and, if such Shares have not yet been accepted for payment as provided herein, any time after August 1, 2025, which is 60 days from the date of the commencement of the Offer.

If we extend the period of time during which the Offer is open, are delayed in accepting for payment or paying for Shares or are unable to accept for payment or pay for Shares pursuant to the Offer for any reason, then, without prejudice to our rights under the Offer, the Paying Agent may, on our behalf, retain all Shares tendered, and such Shares may not be withdrawn except to the extent that you duly exercise withdrawal rights as described in this Section 4.

For your withdrawal to be effective, a written or facsimile transmission notice of withdrawal with respect to the Shares must be timely received by the Paying Agent at one of its addresses set forth on the back cover of this Offer to Purchase, and the notice of withdrawal must specify the name of the person who tendered the Shares to be withdrawn, the number of Shares to be withdrawn and the name of the registered holder of Shares, if different from that of the person who tendered such Shares. If the Shares to be withdrawn have been delivered to the Paying Agent, a signed notice of withdrawal with (except in the case of Shares tendered by an Eligible Institution) signatures guaranteed by an Eligible Institution must be submitted before the release of such Shares. In addition, such notice must specify, in the case of Shares tendered by delivery of certificates, the serial numbers shown on the specific certificates evidencing the Shares to be withdrawn or, in the case of Shares tendered by book-entry transfer, the name and number of the account at the Book-Entry Transfer Facility to be credited with the withdrawn Shares. Withdrawals may not be rescinded, and Shares withdrawn will thereafter be deemed not validly tendered. However, withdrawn Shares may be retendered at any time before the Expiration Date by again following any of the procedures described in "—Section 3—Procedures for Tendering Shares."

We will determine, in our sole discretion, all questions as to the form and validity (including time of receipt) of any notice of withdrawal. None of Purchaser, the Paying Agent, the Information Agent or any other person will be under any duty to give notification of any defect or irregularity in any notice of withdrawal or waiver of any such defect or irregularity or incur any liability for failure to give any such notification. Subject to applicable law as applied by a court of competent jurisdiction, our determination will be final and binding. Tendering stockholders have the right to challenge our determination with respect to their Shares.

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**5. Material U.S. Federal Income Tax Consequences** 

The following summary discusses the material U.S. federal income tax consequences to U.S. Holders and Non-U.S. Holders (in each case, as defined below) who tender Shares pursuant to the Offer. This discussion is based on the Internal Revenue Code of 1986, as amended (the "**Code**"), applicable Treasury regulations promulgated under the Code, administrative interpretations, and judicial decisions as in effect as of the date of this Offer to Purchase, all of which may change, possibly with retroactive effect.

This discussion addresses only the consequences of the tender pursuant to the Offer of Shares that are held as capital assets within the meaning of Section 1221 of the Code (generally, property held for investment). It does not address all aspects of U.S. federal income taxation that may be relevant to a holder of Shares in light of such holder's particular circumstances, or to a holder of Shares that is subject to special rules, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a financial institution or insurance company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a mutual fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• entities or arrangements treated as partnerships or other pass-through entities for U.S. federal income tax
purposes, or investors therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a tax-exempt organization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a dealer or broker in securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a U.S. person whose functional currency is not the U.S. dollar;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a former citizen or former long-term resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a regulated investment company or real estate investment trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a stockholder that holds its Shares through individual retirement or other tax-deferred accounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trader in securities that elects to apply a mark-to-market method of accounting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a stockholder that holds Shares as part of a hedge, appreciated financial position, straddle, or conversion or
integrated transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a stockholder that acquired Shares through the exercise of compensatory options or stock purchase plans or
otherwise as compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an entity covered by the anti-inversion rules under the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a person holding Shares as "qualified small business stock" within the meaning of Section 1202 of
the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a person who actually or constructively owns more than 5% of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a person that holds both Shares and common stock of Parent; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a person subject to the base erosion and anti-abuse tax.

For purposes of this discussion, a "**U.S. Holder**" is a beneficial owner of Shares that is for U.S. federal income tax purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a corporation, or other entity or arrangement taxable as a corporation for U.S. federal income tax purposes,
created or organized in or under the laws of the United States or any state therein or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trust (a) that is subject to the primary supervision of a court within the United States and all the
substantial decisions of which are controlled by one or more U.S. persons or (b) that has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person.

A "**Non-U.S. Holder**" is a beneficial owner of Shares that is neither a U.S. Holder nor a partnership for U.S. federal income tax purposes.

If a partnership (including any entity or arrangement, domestic or foreign, treated as a partnership for U.S. federal income tax purposes) holds Shares, the U.S. federal income tax treatment of a partner in the partnership generally will depend upon the status of the partner and the activities of the partner and the partnership. A partner of a partnership holding Shares should consult its tax advisors regarding the tax consequences to it of the tender of Shares pursuant to the Offer.

This discussion of material U.S. federal income tax consequences is not a complete description of all potential U.S. federal income tax consequences of the tender of Shares pursuant to the Offer. This discussion does not address tax consequences that may vary with, or are contingent on, individual circumstances. In addition, it does not address the application of the alternative minimum tax, the Medicare contribution tax on net investment income, the special tax accounting rules under Section 451(b) of the Code, any non-income tax or any non-U.S., state or local tax consequences of the Offer. Accordingly, each holder of Shares should consult its tax advisor to determine the particular income and other tax consequences to it of the Offer, including the application and effect of any U.S. federal, state, local and non-U.S. income, estate, gift and other tax laws on the receipt of cash in exchange for Shares pursuant to the Offer.

***U.S. Holders***

The tender of Shares by a U.S. Holder pursuant to the Offer will be a taxable transaction for U.S. federal income tax purposes and also may be a taxable transaction under applicable state, local, non-U.S. and other tax laws. In general, if a U.S. Holder exchanges Shares pursuant to the Offer, such U.S. Holder will recognize gain or loss equal to the difference between its adjusted tax basis in its Shares and the amount of cash received in exchange therefor (determined before the deduction of backup withholding, if any). Gain or loss will be determined separately for each block of Shares (i.e., Shares acquired for the same cost in a single transaction) tendered pursuant to the Offer. Such gain or loss generally will be capital gain or loss and generally will be long-term capital gain or loss if the U.S. Holder's holding period in the Shares is more than one year as of the date of the tender of such Shares pursuant to the Offer. Under current law, long-term capital gains of non-corporate taxpayers generally are subject to U.S. federal income tax at preferential rates. The deduction of capital losses is subject to limitations.

***Non-U.S. Holders***

Payments made to a Non-U.S. Holder with respect to Shares tendered in the Offer generally will not be subject to U.S. federal income tax, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the gain, if any, on the Shares is effectively connected with the conduct by the Non-U.S. Holder of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to the Non-U.S. Holder's permanent
establishment or fixed based in the United States); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Non-U.S. Holder is an individual who was present in the United States
for 183 days or more in the taxable year of sale and certain other conditions are met.

Gain described in the first bullet point above generally will be subject to tax on a net income basis in the same manner as if the Non-U.S. Holder were a U.S. Holder (unless an applicable income tax treaty provides otherwise). Any gain described in the first bullet point above recognized by a Non-U.S. Holder that is a corporation also may be subject to an additional "branch profits tax" at a 30% rate (or a lower rate provided by

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an applicable income tax treaty). A Non-U.S. Holder described in the second bullet point above will be subject to tax at a rate of 30% (or a lower rate provided by an applicable income tax treaty) on any capital gain recognized, which may be offset by U.S.-source capital losses recognized in the same taxable year, even though the individual is not considered a resident of the United States, provided that such Non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses.

***Information Reporting and Backup Withholding***

Proceeds from the sale of Shares pursuant to the Offer generally are subject to information reporting, and may be subject to backup withholding at the applicable rate (currently 24%) if the stockholder or other payee fails to provide a valid taxpayer identification number and comply with certain certification procedures or otherwise establish an exemption from backup withholding. Backup withholding is not an additional U.S. federal income tax. Rather, the U.S. federal income tax liability of the person subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund may generally be obtained provided, that the required information is timely furnished to the Internal Revenue Service. See "—Section 3—Procedures for Tendering Shares—Backup Withholding."

**6. Price Range of Shares; Dividends** 

The Shares currently trade on Nasdaq under the symbol "INZY". The following table sets forth the high and low intraday sale prices per Share for each quarterly period after December 31, 2022, as reported by Nasdaq:

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| | | |
|:---|:---|:---|
|  | **High** | **Low** |
| **2023** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quarter | $5.95 | $0.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Quarter | $7.24 | $4.71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Quarter | $7.33 | $3.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fourth Quarter | $4.63 | $2.69 |
| **2024** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quarter | $7.73 | $4.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Quarter | $7.80 | $4.18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Quarter | $6.24 | $4.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fourth Quarter | $5.59 | $2.39 |
| **2025** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Quarter | $3.18 | $0.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Quarter (through May 30, 2025) | $3.99 | $0.72 |

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Inozyme does not pay cash dividends on the Shares and, under the terms of the Merger Agreement, Inozyme is not permitted to establish a record date for, declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares of its capital stock (including the Shares). If we acquire control of Inozyme, we currently intend that no dividends will be declared on the Shares prior to the Merger Effective Time.

On May 15, 2025, the last full trading day before the announcement of the Merger Agreement, the Merger and the Offer, the highest reported intraday sale price per Share on Nasdaq was $1.61 in published financial sources. Between May 15, 2025 and May 30, 2025, the highest daily intraday sale price per Share on Nasdaq ranged between $1.61 and $3.99. On May 30, 2025, the last full trading day before the date of this Offer to Purchase, the highest reported intraday sale price per Share on Nasdaq was $3.97. **Please obtain a recent quotation for the Shares before deciding whether or not to tender.**

**7. Possible Effects of the Offer on the Market for the Shares; Stock Exchange Listing; Registration under the Exchange Act; Margin Regulations** 

Assuming the Minimum Condition is satisfied and we purchase the Shares in the Offer, no stockholder vote will be required to consummate the Merger. Following the consummation of the Offer and subject to the satisfaction

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or waiver of the remaining conditions contained in the Merger Agreement, we intend to consummate the Merger as soon as practicable. We do not expect there to be a significant period of time between consummation of the Offer and consummation of the Merger.

***Possible Effects of the Offer on the Market for the Shares***

While we intend to consummate the Merger as soon as practicable after consummation of the Offer, if the Offer is consummated but the Merger does not occur, the number of stockholders, and the number of Shares that are still in the hands of the public, may be so small that there will no longer be an active or liquid public trading market (or possibly any public trading market) for Shares held by stockholders other than Purchaser. We cannot predict whether the reduction in the number of Shares that might otherwise trade publicly would have an adverse or beneficial effect on the market price for, or marketability of, the Shares or whether such reduction would cause future market prices to be greater or less than the price paid in the Offer. If the Merger is consummated, stockholders not tendering their Shares in the Offer (other than Inozyme, Parent, Purchaser or any subsidiary of Parent, or any person who has properly exercised his appraisal rights under Section 262 of the DGCL) will receive cash in an amount equal to the price per Share paid in the Offer.

***Stock Exchange Listing***

While we intend to consummate the Merger as soon as practicable after consummation of the Offer, if the Offer is consummated but the Merger does not occur, depending upon the number of Shares purchased pursuant to the Offer, the Shares may no longer meet the standards for continued listing on the Nasdaq Global Select Market. If, as a result of the purchase of Shares pursuant to the Offer, the Shares no longer meet the criteria for continued listing on the Nasdaq Global Select Market or any other Nasdaq market, the market for the Shares could be adversely affected. According to Nasdaq's published guidelines, the Shares would not meet the criteria for continued listing on the Nasdaq Global Select Market if, among other things, (a) the number of publicly held Shares were less than 750,000, (b) the market value of the listed Shares were less than $5,000,000 or (c) there were fewer than 400 stockholders.

If Nasdaq were to delist the Shares, it is possible that the Shares would trade on another securities exchange or in the over-the-counter market and that price quotations for the Shares would be reported by such exchange or other sources. The extent of the public market for the Shares and availability of such quotations would, however, depend upon such factors as the number of holders and/or the aggregate market value of the publicly held Shares at such time, the interest in maintaining a market in the Shares on the part of securities firms, the possible termination of registration of the Shares under the Exchange Act and other factors.

***Registration under the Exchange Act***

The Shares are currently registered under the Exchange Act. While we intend to consummate the Merger as soon as practicable after consummation of the Offer, if the Offer is consummated but the Merger does not occur, the purchase of the Shares pursuant to the Offer may result in the Shares becoming eligible for deregistration under the Exchange Act. Registration may be terminated upon application of Inozyme to the SEC if the Shares are neither listed on a national securities exchange nor held by 300 or more holders of record. Termination of the registration of the Shares under the Exchange Act, assuming there are no other securities of Inozyme subject to registration, would substantially reduce the information required to be furnished by Inozyme to holders of Shares and to the SEC and would make certain of the provisions of the Exchange Act, such as the short-swing profit recovery provisions of Section 16(b) thereof, the requirement to furnish a proxy statement pursuant to Section 14(a) thereof in connection with a stockholder's meeting and the related requirement to furnish an annual report to stockholders, and the requirements of Rule 13e-3 thereof with respect to "going private" transactions, no longer applicable to Inozyme. Furthermore, "affiliates" of Inozyme and persons holding "restricted securities" of Inozyme may be deprived of the ability to dispose of such securities pursuant to Rule 144 promulgated under the Securities Act of 1933, as amended. If registration of the Shares under the Exchange Act were terminated, the Shares would no longer be "margin securities" or eligible for stock exchange listing.

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Following the purchase of Shares in the Offer and subject to the satisfaction or waiver of the remaining conditions contained in the Merger Agreement, we will consummate the Merger as soon as practicable, following which the Shares will no longer be publicly traded. Following the consummation of the Merger, we intend to take steps to cause the termination of the registration of Shares under the Exchange Act as promptly as practicable and may in the future take steps to cause the suspension of all of Inozyme's reporting obligations under the Exchange Act.

***Margin Regulations***

The Shares are currently "margin securities" under the regulations of the Board of Governors of the Federal Reserve System (the "**Federal Reserve Board**"), which has the effect, among other things, of allowing brokers to extend credit on the collateral of such Shares. Depending upon factors similar to those described above regarding listing and market quotations, following the purchase of Shares pursuant to the Offer, the Shares might no longer constitute "margin securities" for the purposes of the Federal Reserve Board's margin regulations and, therefore, could no longer be used as collateral for loans made by brokers.

**8. Certain Information Concerning Inozyme** 

The information concerning Inozyme contained in this Offer to Purchase has been taken from or based upon publicly available documents and records on file with the SEC and other public sources and is qualified in its entirety by reference thereto.

According to Inozyme's public filings with the SEC, Inozyme was formed under the laws of Delaware in September 2015 as a limited liability company under the name Inozyme Pharma, LLC. On January 12, 2017, Inozyme Pharma, LLC converted into a Delaware corporation and changed its name to Inozyme Pharma, Inc. Inozyme's principal executive offices are located at 321 Summer Street, Suite 400, Boston, Massachusetts 02210. The telephone number of Inozyme's principal executive offices is (857) 330-4340.

The following description of Inozyme and its business is based on Inozyme's public filings with the SEC, and is qualified in its entirety by reference to such filings. Inozyme is a clinical-stage biopharmaceutical company dedicated to developing innovative therapeutics for rare diseases that affect bone health and blood vessel function. Inozyme believes its expertise lies in the PPi-Adenosine Pathway, where the ENPP1 enzyme generates inorganic pyrophosphate ("**PPi**"), which regulates mineralization, and adenosine, which controls intimal proliferation (the overgrowth of smooth muscle cells inside blood vessels). Inozyme is initially focused on developing a novel therapy for diseases characterized by pathologic mineralization and intimal proliferation, including ENPP1 Deficiency and ABCC6 Deficiency as well as calciphylaxis. Inozyme's lead product candidate, INZ-701, is a soluble, recombinant, or genetically engineered, ENPP1 fusion protein that is designed to increase PPi and adenosine, to enable the potential treatment of multiple diseases caused by deficiencies in these molecules.

***Additional Information***

Inozyme is subject to the informational and reporting requirements of the Exchange Act and in accordance therewith files and furnishes periodic reports, proxy statements and other information with the SEC relating to its business, financial condition and other matters. You may read and copy any such reports, statements or other information at the SEC's website at http://www.sec.gov. The SEC's website address is not intended to function as a hyperlink, and the information contained in the SEC's website is not incorporated by reference in this Offer to Purchase and you should not consider it as part of this Offer to Purchase.

**9. Certain Information Concerning Purchaser and Parent** 

Purchaser is a Delaware corporation incorporated on May 9, 2025, with principal executive offices at 770 Lindaro Street, San Rafael, California 94901. The telephone number of our principal executive offices is (415) 506-6700. To date, we have engaged in no activities other than those incidental to our formation, the Merger Agreement and the Offer.

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Parent is a Delaware corporation, with principal executive offices at 770 Lindaro Street, San Rafael, California 94901. The telephone number of its principal executive offices is (415) 506-6700. Parent is a global biotechnology company dedicated to translating the promise of genetic discovery into medicines that make a profound impact on the life of each patient. The San Rafael, California-based company, founded in 1997, has a proven track record of innovation with eight commercial therapies and a strong clinical and preclinical pipeline. Using a distinctive approach to drug discovery and development, Parent seeks to unleash the full potential of genetic science by pursuing category-defining medicines that offer new possibilities for people living with genetically defined conditions around the world. For more information, please visit www.bmrn.com. The information contained in, accessible from or connected to Parent's website is not incorporated into, or otherwise a part of, this Offer to Purchase or any of Parent's filings with the SEC. The website address referred to in this paragraph is an inactive text reference and is not intended to be an actual link to the website.

The name, business address, current principal occupation or employment, five-year employment history and citizenship of each director and executive officer of Parent and Purchaser and certain other information are set forth on Schedule I hereto. Neither Parent nor Purchaser is an affiliate of Inozyme.

During the last five years, none of Purchaser or Parent or, to the best knowledge of Purchaser and Parent, any of the persons listed in Schedule I hereto, (a) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) was a party to any judicial or administrative proceeding (except for matters that were dismissed without sanction or settlement) that resulted in a judgment, decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws, or a finding of any violation of federal or state securities laws.

We do not believe our financial condition or the financial condition of Parent is relevant to your decision whether to tender your Shares and accept the Offer because (a) the Offer is being made for all outstanding Shares solely for cash, (b) we, through Parent and its controlled affiliates, will have sufficient funds available to acquire all Shares validly tendered, and not withdrawn, in the Offer and to provide funding for the Merger, which is expected to occur as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, (c) consummation of the Offer is not subject to, or contingent upon, any financing condition, and (d) if we consummate the Offer, we expect to acquire any remaining Shares for the same cash per Share price in the Merger.

Pursuant to Rule 14d-3 under the Exchange Act, we have filed with the SEC a Tender Offer Statement on Schedule TO (which we refer to as the "**Schedule TO**"), of which this Offer to Purchase forms a part, and exhibits to the Schedule TO. The SEC also maintains a website on the Internet at www.sec.gov that contains the Schedule TO and the exhibits thereto and other information that Parent has filed electronically with the SEC.

Purchaser and Parent have made no arrangements in connection with the Offer to provide holders of Shares access to our corporate files or to obtain counsel or appraisal services at our expense. For a discussion of appraisal rights, see "—Section 12—Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights."

**10. Source and Amount of Funds** 

We estimate that we will need approximately $340 million to acquire all Shares pursuant to the Offer and the Merger, to pay amounts payable in respect of the Inozyme Options and Inozyme RSUs, to pay related fees and expenses and to pay all other amounts that may become due and payable as a result of the Offer and the Merger. Parent and its controlled affiliates expect to contribute or otherwise advance to Purchaser the funds necessary to consummate the Offer and the Merger and to pay related fees and expenses. Parent intends to finance the acquisition of Shares in the Offer and Merger through its cash on hand or other liquid financial resources. Neither the consummation of the Offer nor the Merger is subject to, or contingent upon, any financing condition or the receipt of proceeds from any debt financing or borrowings.

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**11. Background of the Offer; Contacts with Inozyme** 

***Background of the Offer***

The following is a description of contacts between representatives of Parent and representatives of Inozyme that resulted in the execution of the Merger Agreement. For a review of Inozyme's additional activities, please refer to the Schedule 14D-9 that will be filed by Inozyme with the SEC and disseminated to holders of Shares in connection with the Offer.

As part of Parent's ongoing evaluation of its business and strategic opportunities, the board of directors of Parent (the "**Parent Board**") and members of senior management of Parent regularly evaluate a variety of potential licensing, partnering, research and development, collaboration and strategic acquisition transactions with third parties, including companies that have developed products in clinical areas that complement or further Parent's product portfolio and strategic plan, such as Inozyme.

In 2024, Parent engaged in preliminary discussions with Inozyme regarding a potential transaction and, following entry into a mutual confidentiality agreement, undertook limited technical and clinical diligence relating to Inozyme's product candidates. Parent ultimately determined not to pursue a potential transaction at that time but suggested that if Inozyme were to conduct a process, Parent would be interested in participating.

In April of 2025, representatives of Centerview Partners LLC ("**Centerview**"), Inozyme's financial advisor, on behalf of and at the direction of Inozyme, contacted Parent to gauge Parent's interest in potentially pursuing a transaction with Inozyme. Parent was also granted access by Inozyme to a virtual data room which included certain preliminary diligence materials.

On April 17, 2025, certain members of senior management of Parent attended a management presentation led by certain members of senior management of Inozyme.

On April 23, 2025, representatives of Centerview, on behalf of and at the direction of Inozyme, sent a request to Goldman Sachs & Co. LLC ("**Goldman Sachs**"), Parent's financial advisor, for submission of an initial non-binding indication of interest for an acquisition of 100% of the capital stock of Inozyme the following week.

On April 30, 2025, Goldman Sachs submitted a non-binding indication of interest on behalf of Parent for an acquisition of 100% of the capital stock of Inozyme for $2.00 per Share in cash, subject to completion of due diligence and customary transaction documentation.

On May 2, 2025, Centerview, on behalf of and at the direction of Inozyme, sent Parent a process letter inviting Parent to submit a definitive proposal for an acquisition of 100% of the capital stock of Inozyme by no later than May 16, 2025 and specified the proposal requirements. The process letter was accompanied by an initial draft Merger Agreement prepared by Goodwin Procter LLP ("**Goodwin**"), Inozyme's legal counsel, that contemplated, among other things, (i) a two-step tender offer/merger structure that would be effected under Section 251(h) of the DGCL, (ii) a "no-shop" provision requiring Inozyme to cease solicitation of alternative proposals following the execution of the Merger Agreement, (iii) the ability of Inozyme, under certain circumstances, to negotiate with counterparties in connection with a superior proposal and/or terminate the Merger Agreement to accept a superior proposal, (iv) customary conditions to consummate the tender offer, including U.S. antitrust clearance, (v) an obligation on the part of the buyer to use reasonable best efforts to obtain antitrust approval, and (vi) a termination fee payable by Inozyme in certain circumstances (a "**Company Termination Fee**") equal to 2.0% of the transaction equity value.

Between April 16, 2025 and May 11, 2025, Parent and its representatives conducted business, clinical, financial and legal due diligence on Inozyme.

On May 8 2025, the Parent Board met and approved submitting an increased offer to acquire 100% of the outstanding Shares subject to Inozyme agreeing to work with Parent to enter into a definitive agreement on an expedited basis.

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On May 9, 2025, Parent submitted an updated non-binding proposal to acquire Inozyme for $3.55 per Share in cash (the "**May 9 Proposal**"). The May 9 Proposal indicated that Parent's offer would expire and be withdrawn at 5:00 pm Eastern Time on May 11, 2025 if a merger agreement had not been signed by the parties by that time and included a request for exclusivity. The May 9 Proposal was accompanied by (1) a markup of the proposed Merger Agreement that, among other things, (i) reflected the tender offer structure proposed by Inozyme in its draft Merger Agreement, (ii) proposed a Company Termination Fee equal to 4.0% of the transaction equity value, (iii) included a draft tender and support agreement pursuant to which certain Inozyme stockholders would agree to tender their shares and support the proposed transaction, and (iv) included an exclusivity agreement (the "**Exclusivity Agreement**") pursuant to which Inozyme and its representatives would not be permitted to, among other things, solicit, induce or knowingly facilitate any inquiries, proposals, or offers relating to, or engage in discussions or negotiations regarding, any alternative acquisition proposal.

Later in the afternoon of May 9, 2025, representatives of Centerview, on behalf of and at the direction of Inozyme, informed representatives of Goldman Sachs that Inozyme would be prepared to move forward with a transaction between the parties at an offer price of $5.00 per Share in cash.

Also in the afternoon of May 9, 2025, representatives of Centerview were contacted by representatives of Goldman Sachs, on behalf of and at the direction of Parent, and were informed that Parent was prepared to acquire Inozyme at an offer price of $4.00 per share in cash (the "**Final Proposal**"), but that the Final Proposal represented Parent's best and final offer and was contingent upon the parties entering into exclusivity immediately and reaching a definitive agreement by or before May 12, 2025.

On May 10, 2025, Parent and Inozyme executed the Exclusivity Agreement providing for an initial exclusivity period that would expire at 11:59 p.m. on May 12, 2025, subject to automatic extension for additional 24-hour periods unless terminated by either party.

On May 10, 2025 and May 11, 2025, representatives of Parent's legal counsel, Cooley LLP ("**Cooley"**), and representatives of Goodwin worked to finalize the Merger Agreement, the Support Agreements, and the disclosure schedules to the Merger Agreement.

Also on May 11, 2025, Dr. Treco met telephonically with Alexander Hardy, Parent's Chief Executive Officer, and Dr. James Sabry, Parent's Chief Business Officer. During this meeting, Dr. Treco, Mr. Hardy and Dr. Sabry discussed, among other topics, potential integration strategies and Parent's plans for the continued development of INZ-701. The financial or other terms of the proposed transaction between Parent and Inozyme were not discussed at the meeting.

In the afternoon of May 11, 2025, representatives of Centerview, on behalf of and at the direction of Inozyme, contacted representatives of Goldman Sachs to notify Parent that the Inozyme Board had determined that it was in the best interests of Inozyme and its stockholders not to enter into the Merger Agreement with Parent and to release Inozyme's earnings report and certain interim data which were expected to be announced on May 14, 2025.

Later that evening, Dr. Treco contacted Mr. Hardy to reiterate the Inozyme Board's position.

On May 14, 2025, following Inozyme's announcement of its financial results for the first quarter ended March 31, 2025 and interim data concerning its ongoing clinical development of INZ-701, Parent resubmitted its proposal to acquire Inozyme upon the same financial terms set forth in the Final Proposal, accompanied by a revised draft of the Merger Agreement reflecting, among other things, a Company Termination Fee of $8,700,000, or approximately 3.25% of transaction equity value. Later that same day, and over the course of the following day, representatives of Cooley and Goodwin worked to finalize the Merger Agreement, the Support Agreements, and the disclosure schedules to the Merger Agreement.

On May 15, 2025, after being informed that the Inozyme Board had approved entry into the Merger Agreement, the Parent Board met and approved the Merger Agreement and the transactions contemplated thereby.

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On the morning of May 16, 2025, Inozyme, Parent and Purchaser executed the Merger Agreement, and Parent, Merger Sub and the Supporting Stockholders entered into the Tender and Support Agreements.

Before the opening of trading of the U.S. stock markets on May 16, 2025, Parent and Inozyme issued a joint press release announcing the execution of the Merger Agreement.

**12. Purpose of the Offer; Plans for Inozyme; Stockholder Approval; Appraisal Rights** 

***Purpose of the Offer; Plans for Inozyme***

The purpose of the Offer and the Merger is for Parent to acquire the entire equity interest in Inozyme. The Offer, as the first of two steps in the acquisition of Inozyme, is intended to facilitate the acquisition of all of the Shares. The purpose of the Merger is to acquire all capital stock of Inozyme not purchased pursuant to the Offer or otherwise and to cause Inozyme to become a wholly-owned subsidiary of Parent.

We currently intend, as soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, to consummate the Merger pursuant to the Merger Agreement. As described in "—Section 13—The Transaction Documents—The Merger Agreement—The Merger," the Shares acquired in the Offer will be cancelled in the Merger and the capital stock of Inozyme as the surviving corporation will be the capital stock of Purchaser. The directors of Purchaser immediately prior to the Merger Effective Time will be the directors of Inozyme as the surviving corporation immediately following the Merger Effective Time, until their respective successors are duly elected or appointed and qualified or their earlier death, resignation or removal in accordance with the charter and bylaws of Inozyme as the surviving corporation. The officers of Purchaser immediately prior to the Merger Effective Time will be the officers of Inozyme as the surviving corporation until their respective successors are appointed and qualified or their earlier death, resignation or removal in accordance with the charter and bylaws of Inozyme as the surviving corporation. See "—Section 13—The Transaction Documents—The Merger Agreement—The Merger." Upon completion of the Merger, the Shares currently listed on the Nasdaq will cease to be listed on the Nasdaq and will subsequently be deregistered under the Exchange Act.

If you sell your Shares in the Offer, you will cease to have any equity interest in Inozyme or any right to participate in its earnings and future growth. If you do not tender your Shares, but the Merger is consummated, you also will no longer have an equity interest in Inozyme. Similarly, after selling your Shares in the Offer or the subsequent Merger, you will not bear the risk of any decrease in the value of Inozyme.

Except as described above or elsewhere in this Offer to Purchase and except for the transactions contemplated in the Merger Agreement, Purchaser has no present plans or proposals that would relate to or result in (a) any extraordinary corporate transaction involving Inozyme or any of its subsidiaries (such as a merger, reorganization, liquidation, relocation of any operations or sale or other transfer of a material amount of assets), (b) any change in the Inozyme Board or management, (c) any material change in Inozyme's capitalization or dividend policy, (d) any other material change in Inozyme's corporate structure or business, (e) any class of equity securities of Inozyme being delisted from a national securities exchange or ceasing to be authorized to be quoted in an automated quotation system operated by a national securities association or (f) any class of equity securities of Inozyme becoming eligible for termination of registration pursuant to Section 12(g) of the Exchange Act.

***No Stockholder Approval***

If the Offer is consummated, we do not anticipate seeking a vote of Inozyme's remaining public stockholders before effecting the Merger. Section 251(h) of the DGCL provides that, subject to certain statutory provisions, if following consummation of a tender offer for any and all shares of a public Delaware corporation that would otherwise be entitled to vote on a merger (other than shares held by the acquiring entity and its affiliates), the stock irrevocably accepted for purchase pursuant to such offer and received by the Paying Agent, prior to the

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expiration of such offer, plus the stock otherwise owned by the acquirer equals at least the amount of shares of each class of stock of the target corporation that would otherwise be required for the stockholders of the target corporation to adopt a merger agreement with the acquirer, and each share of each class or series of stock of the target corporation not irrevocably accepted for purchase in the offer is converted into the right to receive the same consideration for their stock in the merger as was payable in the tender offer, the target corporation can effect a merger without the vote of the stockholders of the target corporation. Therefore, the parties have agreed, and the Merger Agreement requires, that, subject to the conditions specified in the Merger Agreement, the Merger will become effective as soon as practicable after the consummation (within the meaning of Section 251(h) of the DGCL) of the Offer, without a vote of Inozyme stockholders, in accordance with Section 251(h) of the DGCL.

***Appraisal Rights***

No appraisal rights are available in connection with the Offer. However, pursuant to the DGCL, if the Offer is successful and the Merger is consummated, stockholders or beneficial owners of Inozyme who continuously held Shares from the date of the demand for appraisal through the Merger Effective Time who (a) did not tender their Shares in the Offer (or, if tendered, properly and subsequently withdrew such Shares prior to the Offer Acceptance Time); (b) are entitled to appraisal rights under Section 262 of the DGCL; (c) properly demand appraisal of their Shares within the later of 20 days after the date of the giving of the notice of appraisal under Section 262 of the DGCL and the consummation of the Offer and otherwise strictly and timely follow the procedures set forth in Section 262 of the DGCL to exercise their appraisal rights; and (d) do not thereafter validly withdraw their demand for appraisal of such Shares or otherwise lose, waive or otherwise fail to perfect their appraisal rights will be entitled to have such Shares appraised by the Delaware Court if certain conditions set forth in Section 262(g) are satisfied and to receive, in lieu of the consideration payable in the Merger, payment equal to the "fair value" of their Shares exclusive of any element of value arising from the accomplishment or expectation of the Merger, together with interest, if any, to be paid on the amount determined to be the "fair value" of their Shares. The "fair value" of such Shares as of the Merger Effective Time could be more than, the same as or less than the consideration to be received pursuant to the Merger.

Under Section 262 of the DGCL, where a merger is approved under Section 251(h), either a constituent corporation before the effective date of the merger, or the surviving corporation within 10 days thereafter, will notify each of the holders of any class or series of stock of such constituent corporation who are entitled to seek appraisal of the approval of the merger or consolidation and that appraisal rights are available for any or all shares of such class or series of stock of such constituent corporation, and will include in such notice a copy of Section 262 of the DGCL or information directing the stockholders to a publicly available electronic resource at which Section 262 of the DGCL may be accessed without subscription or cost. **The Schedule 14D-9 will constitute the formal notice of appraisal rights under Section 262 of the DGCL.**

As will be described more fully in the Schedule 14D-9, if a stockholder or beneficial owner elects to exercise appraisal rights under Section 262 of the DGCL and the Merger is consummated pursuant to Section 251(h) of the DGCL, such stockholder or beneficial owner must do all of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• within the later of the consummation of the Offer, which will occur on the date on which the Purchaser
irrevocably accepts for purchase the Shares validly tendered in the Offer, and 20 days after the mailing of the notice of appraisal rights in the Schedule 14D-9, deliver to Inozyme at the address indicated in the Schedule 14D-9, a written demand for
appraisal of Shares held, which demand must reasonably inform Inozyme of the identity of the stockholder or beneficial owner, as applicable, and that the stockholder or beneficial owner, as applicable, is demanding appraisal for such Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• not tender their Shares in the Offer (or, if tendered, properly and subsequently withdraw such Shares prior to
the Offer Acceptance Time);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• continuously hold of record or beneficially own the Shares from the date on which the written demand for
appraisal is made through the Merger Effective Time;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• strictly follow the statutory procedures for perfecting appraisal rights under Section 262 of the DGCL; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the case of a beneficial owner, the demand must (a) reasonably identify the holder of record of the
Shares for which the demand is made, (b) be accompanied by documentary evidence of such beneficial owner's beneficial ownership and a statement that such documentary evidence is a true and correct copy of what it purports to be, and
(c) provide an address at which such beneficial owner consents to receive notices given by the Surviving Corporation (as defined below) under Section 262 of the DGCL and to be set forth on the verified list to be filed with the Delaware
Register in the Delaware Court.

Any stockholder or beneficial owner of Shares who wishes to exercise such appraisal rights or who wishes to preserve their right to do so in connection with the Merger, should carefully review each of the Schedule 14D-9 and Section 262 of the DGCL because failure to timely and properly comply with the procedures required by Section 262 of the DGCL will result in the loss of appraisal rights under the DGCL that would otherwise be available if the Merger is consummated.

**The foregoing summary of the rights of stockholders and beneficial owners of Shares to seek appraisal under Delaware law in connection with the Merger does not purport to be a complete statement of the procedures to be followed by the stockholders and beneficial owners of Inozyme desiring to exercise appraisal rights in connection with the Merger and is qualified in its entirety by reference to Section 262 of the DGCL. The preservation and proper exercise of appraisal rights in connection with the Merger requires strict adherence to the applicable provisions of the DGCL. Section 262 of the DGCL may be accessed without subscription or cost at the following publicly available website: https://delcode.delaware.gov/title8/c001/sc09/index.html#262. A copy of Section 262 of the DGCL is set forth in Inozyme's Schedule 14D-9, Annex II, Section 262 of the General Corporation Law of the State of Delaware.** 

**You will not be entitled to appraisal rights unless the Merger is consummated. The information provided above is for informational purposes only with respect to your alternatives if the Merger is completed. If you tender your shares in the Offer, you will not be entitled to exercise appraisal rights with respect to your shares but, instead, upon the terms and subject to the conditions of the Offer, you will receive the Offer Price for your Shares.** 

**13. The Transaction Documents** 

***The Merger Agreement***

The following summary description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, a copy of which Purchaser has included as Exhibit (d)(1) to the Tender Offer Statement on Schedule TO and is incorporated herein by reference. Stockholders and other interested parties should read the Merger Agreement for a more complete description of the provisions summarized below. Capitalized terms used herein and not otherwise defined have the respective meanings set forth in the Merger Agreement. **The summary description has been included in this Offer to Purchase to provide you with information regarding the terms of the Merger Agreement and is not intended to modify or supplement any factual disclosures about Parent, Purchaser, Inozyme or their respective affiliates. The representations, warranties and covenants contained in the Merger Agreement were made only for the purposes of the Merger Agreement, were made as of specific dates, were made solely for the benefit of the parties to the Merger Agreement and may not have been intended to be statements of fact, but rather, as a method of allocating risk and governing the contractual rights and relationships among the parties to the Merger Agreement. In addition, such representations, warranties and covenants may have been qualified by certain disclosures not reflected in the text of the Merger Agreement and may apply standards of materiality and other qualifications and limitations in a way that is different from what may be viewed as material by Parent's or Inozyme's stockholders or under federal securities laws. In reviewing the**

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 **representations, warranties and covenants contained in the Merger Agreement or any descriptions thereof in this summary, it is important to bear in mind that, except for the right to seek monetary damages, and which right is enforceable solely by Inozyme in its sole and absolute discretion, investors are not third-party beneficiaries under the Merger Agreement and that such representations, warranties, covenants or descriptions were not intended by the parties to the Merger Agreement to be characterizations of the actual state of facts or conditions of Parent, Purchaser, Inozyme or their respective affiliates. Moreover, information concerning the subject matter of the representations and warranties may have changed or may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in public disclosures. For the foregoing reasons, the representations, warranties, covenants or descriptions of those provisions should not be read alone and should instead be read in conjunction with the other information contained in the reports, statements and filings that Parent, its affiliates and Inozyme publicly file.**

***The Offer***

Upon the terms and subject to the conditions set forth in the Merger Agreement, Purchaser will commence a cash tender offer (as promptly as practicable, but in no event later than ten (10) business days after the date of the Merger Agreement) for all of the Shares at a purchase price of $4.00 per Share, net to the seller of such Shares in cash, without interest, subject to any applicable withholding of taxes. Purchaser's obligation to accept for payment and pay for any Shares validly tendered and (not validly withdrawn) pursuant to the Offer is subject to the prior satisfaction of the Minimum Condition, and the satisfaction or waiver (to the extent such waiver is permitted by applicable law) of the Regulatory Condition, the Obligations Condition and the other conditions set forth in "—Section 15—Conditions to the Offer."

Purchaser has the right, to the extent permitted by applicable law, to (a) increase the Offer Price, (b) waive any Offer Condition other than the Minimum Condition, the Termination Condition, the Order Condition, or the Regulatory Condition and (c) make any other changes in the terms and conditions of the Offer not inconsistent with the terms of the Merger Agreement.

However, without Inozyme's prior written consent, Purchaser is not permitted to (i) decrease the Offer Price, (b) change the form of consideration payable in the Offer, (c) decrease the maximum number of Shares sought to be purchased in the Offer, (d) impose any conditions or requirements to the Offer in addition to the Offer Conditions, (e) amend, modify or supplement any of the terms of the Offer in a manner that adversely affects, or would reasonably be expected to adversely affect, any holder of Shares or that would, individually or in the aggregate, reasonably be expected to prevent or delay the consummation of the Offer or prevent, delay or impair the ability of Parent or Purchaser to consummate the Offer, the Merger or the other Transactions, (f) amend, modify, change or waive the Minimum Condition, the Termination Condition, the Order Condition or the Regulatory Condition, (g) terminate or withdraw the Offer (unless the Merger Agreement is validly terminated in accordance with its terms) or accelerate, extend or otherwise change the Expiration Date, except in accordance with the terms of the Merger Agreement provide any "subsequent offering period" within the meaning of Rule 14d-11 promulgated under the Exchange Act, or (h) take any action (or fail to take any action) that would result in the Merger not being permitted to be effected pursuant to Section 251(h) of the DGCL.

We may not terminate or withdraw the Offer prior to any scheduled Expiration Date (or any rescheduled Expiration Date) without Inozyme's consent, except in the event that the Merger Agreement is terminated in accordance with its terms.

***Extensions of the Offer***

The Offer will initially be scheduled to expire at the Expiration Date. If, at the scheduled Expiration Date, any of the Offer Conditions have not been satisfied or waived, then, we will, and Parent will require us to, extend the Offer on one or more occasions (in consecutive increments), for an additional period of up to ten (10) business

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days per extension, to permit such Offer Condition to be satisfied; and we will, and Parent will require us to, extend the Offer from time to time for the minimum period required by applicable law, any interpretation or position of the SEC or its staff or Nasdaq or its staff, applicable to the Offer.

In no event will we (or Parent) (a) be required to extend the Offer beyond the earlier to occur of (the "**Extension Deadline**") (i) the valid termination of the Merger Agreement in compliance with the terms thereof and (ii) the first business day immediately following the End Date (as defined below); or (b) be permitted to extend the Offer beyond the Extension Deadline without the prior written consent of Inozyme. We will not, and Parent will not permit Purchaser to, extend the Offer in any manner except as required or expressly permitted as set forth in this paragraph. See "—Section 1—Terms of the Offer." The "**End Date**" means midnight Eastern Time on November 16, 2025, which End Date will be extended for an additional three months if the Regulatory Condition has not been satisfied at such time.

The Merger Agreement obligates Purchaser, subject to the satisfaction or waiver of the conditions set forth in "Section 15-Conditions to the Offer," to, at or promptly after the Expiration Date, irrevocably accept for payment all Shares validly tendered (and not validly withdrawn) pursuant to the Offer and pay for such Shares.

***The Merger***

As soon as practicable following (but in any event on the same day as) the Offer Acceptance Time, subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser will merge with and into Inozyme, and Inozyme will survive as a wholly-owned subsidiary of Parent. At the Merger Effective Time, any Shares not purchased pursuant to the Offer (other than Shares held by Inozyme (or held in its treasury), Parent, Purchaser or any subsidiary of Parent, or any stockholders who have properly exercised their appraisal rights under Section 262 of the DGCL) will be automatically converted into the right to receive, in cash, without interest, subject to any applicable withholding of taxes, an amount equal to the Offer Price.

The certificate of incorporation of Inozyme as in effect immediately prior to the Merger Effective Time will be amended and restated such that the certificate of incorporation of Purchaser, as in effect immediately prior to the Merger Effective Time, will be the certificate of incorporation of Inozyme as the Surviving Corporation, except that all references to Purchaser will automatically be amended and will become references to Inozyme as the Surviving Corporation, until thereafter amended (subject to the terms of the Merger Agreement) and as provided by the DGCL and such certificate of incorporation. The bylaws of Inozyme will be amended and restated such that the bylaws of Purchaser as in effect immediately prior to the Merger Effective Time, will be the bylaws of Inozyme as the Surviving Corporation, except that all references to Purchaser will be automatically amended and will become references to Inozyme as the Surviving Corporation, until thereafter amended (subject to the terms of the Merger Agreement) as provided by the DGCL, the certificate of incorporation of the Surviving Corporation or such bylaws. The directors of Inozyme as the Surviving Corporation will be the respective individuals who served as the directors of Purchaser as of immediately prior to the Merger Effective Time, until their respective successors are duly elected and qualified, or their earlier death, resignation or removal. The officers of Inozyme as the Surviving Corporation will be the respective individuals who served as the officers of Purchaser as of immediately prior to the Merger Effective Time, until their respective successors are duly elected and qualified, or their earlier death, resignation or removal.

**The Merger will be effected under Section 251(h) of the DGCL and will be effected without a vote of Inozyme stockholders.** 

***Treatment of Inozyme Awards***

*Inozyme Options* 

The Merger Agreement provides that each Inozyme Option that is outstanding as of immediately prior to the Merger Effective Time, to the extent unvested, will automatically accelerate and become fully vested and

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exercisable effective immediately prior to, and contingent upon the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is less than the Merger Consideration (each, an "**In-the-Money Option**") will be cancelled and converted into the right to receive cash in an amount equal to the product of (a) the total number of Shares subject to such fully vested In-the-Money Option immediately prior to the Merger Effective Time, multiplied by (b) the excess, if any, of (i) the Merger Consideration minus (ii) the exercise price payable per Share under such In-the-Money Option, which amount will be paid in accordance with the terms of the Merger Agreement and subject to any applicable withholding of taxes.

As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme Option that is then outstanding and unexercised as of immediately prior to the Merger Effective Time having a per share exercise price that is equal to or more than the Merger Consideration will be canceled without any consideration payable (whether in the form of cash or otherwise) therefor, whether before or after the Merger Effective Time.

*Inozyme RSUs* 

The Merger Agreement provides that each Inozyme RSU that is outstanding as of immediately prior to the Merger Effective Time will automatically accelerate and become fully vested immediately prior to, and contingent upon, the Merger Effective Time. As of the Merger Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or Inozyme, each Inozyme RSU that is then outstanding as of immediately prior to the Merger Effective Time will be canceled and converted into the right to receive cash in an amount equal to the product of (a) the total number of Shares issuable in settlement to such Inozyme RSU, immediately prior to the Merger Effective Time, multiplied by (b) the Merger Consideration, which amount will be paid in accordance with the terms of the Merger Agreement and subject to any applicable withholding of taxes.

***Treatment of Inozyme ESPP***

On May 30, 2025, the Compensation Committee adopted such resolutions to provide that, with respect to the Inozyme ESPP: (a) the final exercise date will be such date as Inozyme determines in its sole discretion (provided that such date will be no later than the date that is five (5) calendar days prior to the Merger Effective Time (the "**Final Exercise Date**")), (b) each Inozyme ESPP participant's accumulated contributions under the Inozyme ESPP will be used to purchase Shares in accordance with the terms of the Inozyme ESPP as of the Final Exercise Date, (c) the Inozyme ESPP will terminate on the date immediately prior to the date on which the Merger Effective Time occurs and no further rights will be granted or exercised under the Inozyme ESPP thereafter, (d) each individual participating in the Offering (as defined in the Inozyme ESPP) in progress on the date of the Merger Agreement (the "**Final Offering**") will not be permitted to increase the percentage of his or her earnings (as defined in the Final Offering documents) pursuant to the Inozyme ESPP from the individual's applicable elected percentage of earnings that was in effect when that Offering commenced, or make any non-payroll contributions to the Inozyme ESPP on or following the date of the Merger Agreement, (e) except for the Final Offering, no offering period under the Inozyme ESPP will be authorized or commenced on or after the date of the Merger Agreement, (f) the applicable purchase price for Shares will not be decreased below the levels set forth in the Inozyme ESPP as of the date of the Merger Agreement and (g) no further rights are granted under the Inozyme ESPP after the Merger Effective Time. All Shares purchased on the Final Exercise Date will be cancelled at the Merger Effective Time and converted into the right to receive the Merger Consideration, which amount will be paid in accordance with the terms of the Merger Agreement.

***Representations and Warranties***

In the Merger Agreement, Inozyme has made customary representations and warranties to Parent and Purchaser that are subject, in some cases, to specified exceptions and qualifications contained in the Merger Agreement or

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in a disclosure letter delivered by Inozyme to Parent and Purchaser on the date of the Merger Agreement (the "**Disclosure Letter**"). These representations and warranties relate to, among other things: (a) due organization, good standing, subsidiaries and organizational documents; (b) certificate of incorporation and bylaws; (c) authority; binding nature of the Merger Agreement; (d) capitalization and other equity interests; (e) non-contravention and consents; (f) SEC filings and financial statements; (g) absence of certain changes; (h) intellectual property; (i) privacy and information security; (j) contracts; (k) no undisclosed liabilities; (l) litigation; (m) compliance with laws; (n) regulatory matters; (o) certain business practices; (p) trade control laws; (q) governmental authorizations; (r) tax matters; (s) employee matters and benefit plans; (t) environmental matters; (u) real property; (v) suppliers; (w) title to assets; (x) insurance; (y) Section 203 of the DGCL; (z) approval of the Merger; (aa) opinion of Centerview; and (bb) brokers and other advisors.

In the Merger Agreement, Purchaser and Parent have made customary representations and warranties to Inozyme that are subject, in some cases, to specified exceptions and qualifications contained in the Merger Agreement. These representations and warranties relate to, among other things: (a) due organization and good standing; (b) the Purchaser; (c) authority and binding nature of the Merger Agreement; (d) non-contravention and consents; (e) disclosure; (f) litigation; (g) ownership of Inozyme capital stock and absence of certain arrangements; (h) brokers and other advisors; and (i) sufficiency of funds. The representations and warranties will not survive consummation of the Merger.

***Operating Covenants***

Inozyme has agreed that, during the period from the date of the Merger Agreement until the earlier of the Offer Acceptance Time and the termination of the Merger Agreement pursuant to its terms (the "**Pre-Closing Period**"), except (a) as required under the Merger Agreement or as required by applicable laws, (b) with the written consent of Parent (which consent will not be unreasonably withheld, conditioned or delayed), or (c) as set forth in the Disclosure Letter, Inozyme will, and will cause each of its subsidiaries to, use its commercially reasonable efforts to (i) conduct their respective business and operations in the ordinary course and (ii) preserve intact the material components of the current business organization of Inozyme and each of its direct and indirect wholly-owned subsidiaries (the "**Acquired Companies**"), including by maintaining its relations and goodwill with all material suppliers, material customers, governmental bodies and other material business relations of any of the Acquired Companies.

Inozyme has further agreed that, during the Pre-Closing Period, except (a) as required under the Merger Agreement, (b) as required by applicable laws, (c) with the written consent of Parent (which consent will not be unreasonably withheld, conditioned or delayed), or (d) as set forth in the Disclosure Letter, Inozyme will not, and will cause each of its subsidiaries not to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• amend Inozyme's organizational documents or any organizational documents of Inozyme's subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) establish a record date for, declare, accrue, set aside or pay any dividend or make any other distribution in
respect of any shares of its capital stock (including Inozyme common stock) or (b) repurchase, redeem or otherwise reacquire any of its shares of capital stock (including any Inozyme common stock), or any rights, warrants or options to acquire
any shares of its capital stock, other than: (i) repurchases or reacquisitions of Shares outstanding as the date of the Merger Agreement pursuant to Inozyme's right (under written commitments in effect as of the date of the Merger
Agreement) to purchase or reacquire Shares held by a Company Associate (as defined in the Merger Agreement) only upon termination of such associate's employment or engagement by Inozyme; (ii) repurchases of Inozyme Awards (or shares of
capital stock issued upon the exercise or vesting thereof) outstanding on the date of the Merger Agreement (in cancellation thereof) pursuant to the terms of any such Inozyme Award (in effect as of the date of the Merger Agreement) between Inozyme
and a Company Associate only upon termination of such Person's employment or engagement Inozyme; (iii) in connection with withholding to satisfy the exercise price or Tax obligations with respect to Inozyme Awards; or (iv) in
accordance with the terms of the Inozyme ESPP;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• split, combine, subdivide or reclassify any shares of its capital stock (including the Shares) or other equity
interests;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• issue, sell, grant, deliver, pledge, transfer, encumber or authorize the issuance, sale, grant delivery, pledge,
transfer or encumbrance of (a) any capital stock, equity interest or other security of the Acquired Company, (b) any option, call, warrant, restricted securities or right to acquire any capital stock, equity interest or other security of
the Acquired Company, or (c) any instrument convertible into or exchangeable for any capital stock, equity interest or other security of the Acquired Company (except that (i) Inozyme may issue Shares as required to be issued upon the
exercise of Inozyme Options or the vesting of Inozyme RSUs, or in accordance with the Inozyme ESPP, (ii) Inozyme may issue Inozyme Awards in fulfillment of obligations in effect prior to the date of the Merger Agreement as set forth in the
Disclosure Letter, and (iii) Inozyme may take such actions as are necessary to effect the determination of the Inozyme Board (or a committee thereof) with respect to Inozyme Options pursuant to the terms of the Merger Agreement and/or the
settlement of Inozyme RSUs pursuant to the terms of the Merger Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• except as (a) otherwise required under applicable law, (b) required pursuant to the terms of an
applicable employee plan or (c) contemplated by the Merger Agreement, establish, adopt, terminate or amend any employee plan (or any plan, program, arrangement, practice or agreement that would be an employee plan if it were in existence on the
date of the Merger Agreement), or amend or waive any of its rights under, any of the employee plans (or any plan, program, arrangement, practice or agreement that would be an employee plan if it were in existence on the date of the Merger Agreement)
or grant any Company Associate any material increase in compensation or other benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) enter into or amend any change-of-control, retention, employment, severance, consulting or other material agreement with any Company Associate, or (b) terminate (other than for cause), put
on unpaid leave (including furlough), or layoff (or give notice of any such actions to) any employee with an annual base salary in excess of $200,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• form any subsidiary, acquire any equity interest in any other entity or enter into any joint venture,
partnership, collaboration or similar profit sharing arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• make or authorize any capital expenditure, except that the Acquired Company may make any capital expenditure that
does not exceed $250,000 individually and $500,000 in the aggregate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• acquire, lease, license, sublicense, pledge, sell or otherwise dispose of, divest or spin-off, abandon, waive, relinquish or permit to lapse (other than any patent expiring at the end of its statutory term for which an extension or renewal cannot be obtained), transfer, assign, guarantee, mortgage
or otherwise subject to any material encumbrance (other than permitted encumbrances) any material right or other material asset or property, including any Intellectual Property Right (as defined in the Merger Agreement), except, in the case of any
of the foregoing (a) in the ordinary course of business (including entering into non-exclusive license agreements in the ordinary course of business consistent with past practice), (b) pursuant to
dispositions of obsolete, surplus or worn-out assets that are no longer useful in the conduct of the business of the Acquired Company, or (c) as provided for in Inozyme's capital expense budget
delivered or made available to Parent prior to the date of the Merger Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• lend money or make capital contributions or advances to or make investments in, any person, or incur or guarantee
any Indebtedness (as defined in the Merger Agreement), except for advances to employees and consultants for travel and other business-related expenses in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• except as required by applicable law, make or change any material tax election, change any annual tax accounting
period, adopt or change any material method of tax accounting, amend any income or other material tax return, surrender any claim to a material refund of taxes, consent to the extension or waiver of the statutory period of limitations applicable to
any tax claim or assessment (other than in connection with automatic extensions of the due date for filing a tax return obtained in the ordinary course of business), enter into any closing agreement with respect to taxes, settle or compromise any
material tax liability, claim or assessment;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• amend or modify in any material respect, waive any rights under, terminate (other than the expirations of
contracts in accordance with their terms), replace or release, settle or compromise any material claim, liability or obligation under any Material Contract (as defined in the Merger Agreement) or enter into any contract which if entered into prior
to the date of the Merger Agreement would have been a Material Contract, excluding any non-exclusive license agreements or services agreements entered into in the ordinary course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• commence any legal proceeding, except with respect to: (a) routine matters in the ordinary course of
business or (b) in such cases where Inozyme reasonably determines in good faith that the failure to commence suit would result in a material impairment of a valuable aspect of its business (provided that Inozyme consults with Parent and
considers in good faith the views and comments of Parent with respect to any such legal proceeding prior to commencement thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• settle, release, waive or compromise any legal proceeding or other claim (or threatened legal proceeding or other
claim) pending against any Acquired Company, other than (a) any legal proceeding relating to a breach of the Merger Agreement or any other agreements contemplated by the Merger Agreement or (b) any legal proceeding (i) that results
solely in an obligation involving only the payment of monies by the Acquired Company of not more than $50,000 individually and $200,000 the aggregate and (ii) does not involve the admission of wrongdoing by the Acquired Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• enter into any collective bargaining agreement or other agreement with any labor organization (except to the
extent required by applicable laws);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adopt or implement any stockholder rights plan or similar arrangement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adopt a plan or agreement of complete or partial liquidation or dissolution, merger, consolidation,
restructuring, recapitalization or other reorganization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• enter into any new material line of business (it being understood that commencement of preclinical or clinical
studies in compliance with this clause will not be deemed to constitute a new line of business) or enter into any agreement, arrangement or commitment that materially limits or otherwise restricts Inozyme or its affiliates, including following the
Merger Effective Time, Parent and its affiliates (other than, in the case of Parent and its affiliates, due to the operation of Parent's or its affiliates' own contracts) following the closing of the Merger, from engaging or competing in
any line of business or in any geographic area or otherwise enter into any agreements, arrangements or commitments imposing material restrictions on its assets, operations or business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) commence any clinical study, (b) unless mandated by any regulatory authority or governmental body,
discontinue, terminate or suspend any ongoing clinical study or (c) except as required by applicable law, as determined in good faith by Inozyme, discontinue, terminate or suspend any ongoing IND-enabling preclinical study; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• authorize any of, or agree or commit to take, any of the actions described in the above clauses.

Pursuant to the Merger Agreement, during the Pre-Closing Period, Inozyme will, and will cause each of its subsidiaries to, in each case to the extent reasonably practicable and permissible under applicable law, (a) provide Parent with a reasonable opportunity to review the material portions of any applications or filings to be made with the United States Food and Drug Administration ("**FDA**") or any other governmental body, and any material correspondence or other material communication proposed to be submitted or otherwise transmitted to the FDA or any other governmental body, in any case, with respect to any Company Product (as defined in the Merger Agreement) or any of Inozyme's clinical trials, (b) consult with Parent in connection with any proposed meeting with the FDA or any other governmental body relating to any Company Product or any of Inozyme's clinical trials, and (c) keep Parent reasonably informed of any material communication (written or oral) with or from the FDA or any other governmental body regarding any Company Product or any of Inozyme's clinical trials.

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***No Solicitation***

Pursuant to the Merger Agreement, during the Pre-Closing Period, Inozyme will not, and will not authorize its representatives to, and will direct its representatives not to, directly or indirectly (a) continue any direct or indirect solicitation, knowing encouragement, knowing facilitation (including by way of providing non-public information), discussions or negotiations with any persons that may be ongoing with respect to an Acquisition Proposal (as defined below); (b) solicit, initiate or knowingly facilitate or encourage (including by way of furnishing non-public information) any inquiries regarding, or the making of any proposal or offer that constitutes, or could reasonably be expected to lead to, an Acquisition Proposal; (c) engage in, continue or otherwise participate in any discussions or negotiations regarding, or furnish to any other person any non-public information in connection with or for the purpose of knowingly encouraging or facilitating, an Acquisition Proposal or any inquiry, offer or proposal that could reasonably be expected to lead to an Acquisition Proposal; (d) enter into any letter of intent, acquisition agreement, agreement in principle or similar agreement with respect to an Acquisition Proposal or any proposal or offer that could reasonably be expected to lead to an Acquisition Proposal; or (e) waive or release any Person from, or fail to use reasonable best efforts to enforce, any standstill agreement or any standstill provisions of any contract entered into in respect of an Acquisition Proposal.

Inozyme and its directors, officers and employees will, and Inozyme will direct its other representatives to (a) cease and cause to be terminated any direct or indirect solicitation and any and all ongoing discussions or negotiations with any Person (other than Parent, Purchaser, Inozyme, or any of their respective Affiliates or Representatives) with respect to any Acquisition Proposal and (b) promptly (but in any event within twenty-four hours), terminate access by any Person (other than Parent, Purchaser, Inozyme, or any of their respective Affiliates or Representatives) to any physical or electronic data room relating to any Acquisition Proposal and deliver a written notice to each Person that entered into a confidentiality agreement in anticipation of potentially making an Acquisition Proposal within the last 180 days, to the effect that Inozyme is ending all discussions and negotiations with such Person with respect to any Acquisition Proposal, effective on the date of the Merger Agreement and requesting the prompt return or destruction of all confidential information previously furnished to any Person within the last 180 days for the purposes of evaluating a possible Acquisition Proposal.

For purposes of the Merger Agreement, the term "**Acquisition Proposal**" means any proposal or offer from any person (other than Parent and its affiliates) or "group" (within the meaning of Section 13(d) of the Exchange Act), relating to, whether in a single transaction or series of related transactions, any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an acquisition or license of assets of Inozyme equal to 20% or more of Inozyme's consolidated assets (based
on the fair market value thereof, as reasonably determined by the Inozyme Board) or to which 20% or more of Inozyme's revenues or earnings on a consolidated basis are attributable (as reasonably determined by the Inozyme Board);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an issuance or acquisition of 20% or more of the outstanding Shares to any such Person or group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a recapitalization, tender offer or exchange offer that if consummated would result in any person or group
beneficially owning 20% or more of the outstanding Shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a merger, consolidation, amalgamation, share exchange, business combination, recapitalization, liquidation,
dissolution or similar transaction involving Inozyme that if consummated would result in any person or group beneficially owning 20% or more of the outstanding Shares,

in each case other than the Transactions.

For purposes of the Merger Agreement, the term "**Superior Offer**" means any *bona fide* written Acquisition Proposal that was not solicited in violation of Section 6.3 of the Merger Agreement on terms and conditions that the Inozyme Board (or a committee thereof) has determined, in good faith, after consultation with its financial advisor and outside legal counsel, (a) is reasonably likely to be consummated in accordance with its terms, and (b) if consummated, would result in a transaction more favorable to the stockholders of Inozyme (solely in their

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capacity as such) from a financial point of view than the Transactions, taking into account in each case all the terms and conditions (including all financial, regulatory, financing, conditionality, legal and other terms and conditions) of such Acquisition Proposal and the Merger Agreement (including any changes to the terms of the Merger Agreement proposed in writing by Parent prior to the time of such determination and any fees to be paid by Inozyme for terminating the Merger Agreement) and other factors that the Inozyme Board (or committee thereof) deems relevant; *provided* that, for purposes of the definition of "Superior Offer," the references to "20%" in the definition of Acquisition Proposal will be deemed to be references to "50%".

If at any time on or after the date of the Merger Agreement and prior to the Offer Acceptance Time, Inozyme or any of its representatives receives an unsolicited *bona fide* written Acquisition Proposal from any person or group of persons, which Acquisition Proposal was made or renewed on or after the date of the Merger Agreement and did not, result from any material breach of the restrictions described above, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the Inozyme Board determines in good faith, after consultation with its financial advisors and outside legal
counsel, that such Acquisition Proposal constitutes or could reasonably be expected to lead to a Superior Offer, and that failure to take such action would be inconsistent with the Inozyme Board's fiduciary duties under applicable law, then
Inozyme and its representatives may (a) furnish, pursuant to (but only pursuant to) a customary confidentiality agreement with such person(s) that satisfies certain criteria specified in the Merger Agreement (an "**Acceptable Confidentiality Agreement** "), information (including non-public information) with respect to Inozyme to the person or group of persons who has made such Acquisition Proposal (however, Inozyme must
promptly provide to Parent any non-public information concerning Inozyme that is provided to any person given such access and was not previously provided to Parent or its representatives) and (b) engage
in or otherwise participate in discussions or negotiations with the person or group of persons making such Acquisition Proposal.

In addition, during the Pre-Closing Period, Inozyme must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• promptly (and in any event within twenty-four hours) notify Parent of any inquiry, proposal or offer received by
the Inozyme Board or any of its Representatives that the Inozyme Board believes is or could reasonably be expected to lead to, an Acquisition Proposal, including the identity of the person or group of persons making such Acquisition Proposal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• provide to Parent a summary of the material terms and conditions of any Acquisition Proposal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• keep Parent reasonably informed of any material developments, discussions or negotiations regarding any
Acquisition Proposal on a reasonably prompt basis; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon the written request of Parent, reasonably inform Parent of the status of any Acquisition Proposal.

***Inozyme Board Recommendation***

As described above, and subject to the provisions described below, the Inozyme Board unanimously (a) determined that the Merger Agreement and all of the transactions contemplated by the Merger Agreement, including the Offer and the Merger (the "**Transactions**"), are advisable, fair to, and in the best interest of, Inozyme and its stockholders, (b) approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the Transactions, on the terms and subject to the conditions set forth in the Merger Agreement, (c) resolved that the Merger will be effected under Section 251(h) of the DGCL, and (d) resolved to recommend that the holders of Shares tender their Shares to Purchaser pursuant to the Offer. The foregoing recommendation is referred to herein as the "**Inozyme Board Recommendation**." Unless the Inozyme Board makes a Company Adverse Change Recommendation (as defined below), the Inozyme Board also agreed to include the Inozyme Board Recommendation in the Schedule 14D-9 and to permit Purchaser to refer to such recommendation in this Offer to Purchase and other documents related to the Offer.

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Except as described below, during the Pre-Closing Period, neither the Inozyme Board nor any committee of the Inozyme Board may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fail to make, withdraw (or modify or qualify in a manner adverse to Parent or Purchaser) or publicly propose to
withdraw (or modify or qualify in any manner adverse to Parent or Purchaser), the Inozyme Board Recommendation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approve, recommend or declare advisable, or publicly propose to approve, recommend or declare advisable, any
Acquisition Proposal; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fail to include the Inozyme Board Recommendation in the Schedule 14D-9 when disseminated to the Inozyme stockholders.

Any action described in the foregoing bullets is referred to as a "**Company Adverse Change Recommendation**."

The Merger Agreement further provides that the Inozyme Board will not publicly make any recommendation in connection with a tender offer or exchange offer (other than the Offer) other than a recommendation against such offer or approve, recommend or declare advisable, or propose to approve, recommend or declare advisable, or allow Inozyme to execute or enter into any contract with respect to any Acquisition Proposal requiring, or that would reasonably expect to cause, Inozyme to abandon, terminate, materially delay or fail to consummate, or that would otherwise materially impede, interfere with or be inconsistent with, the Transactions (other than an Acceptable Confidentiality Agreement).

However, notwithstanding the foregoing, at any time prior to the Offer Acceptance Time, if Inozyme receives a *bona fide* written Acquisition Proposal (which Acquisition Proposal did not arise out of a material breach of the Merger Agreement) from any person that has not been withdrawn and, after consultation with its financial advisor and outside legal counsel, the Inozyme Board (or a committee thereof) has determined in good faith that such Acquisition Proposal is a Superior Offer, the Inozyme Board may make a Company Adverse Change Recommendation in response to an Acquisition Proposal or, provided that Inozyme is not in breach of the Merger Agreement, Inozyme may terminate the Merger Agreement in order to enter into an agreement with respect to such Superior Offer. However, such action may be taken if and only if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Inozyme Board determines in good faith (after consultation with its outside legal counsel and financial
advisors) that the failure to take such action would be inconsistent with its fiduciary duties to Inozyme's stockholders under applicable laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has given Parent prior written notice of its intention to make a Company Adverse Change Recommendation or
terminate the Merger Agreement to accept such Superior Proposal at least four (4) business days prior to making any such Company Adverse Change Recommendation or termination (a "**Determination Notice**") (which notice will not
constitute a Company Adverse Change Recommendation);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has provided to Parent a summary of the material terms and conditions of such Acquisition Proposal in
accordance with the terms of the Merger Agreement together with drafts of any documentation being negotiated in connection with the applicable Acquisition Proposal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has given Parent four (4) business days after the Determination Notice to propose revisions to the
terms of the Merger Agreement or make another proposal so that such Acquisition Proposal would cease to constitute a Superior Offer, and, to the extent requested by Parent, will have negotiated in good faith with Parent and its Representatives (and
will have made its Representatives reasonably available to discuss and negotiate with Parent and its representatives) with respect to such proposed revisions or other proposal, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at the end of such four (4) business-day period, the Inozyme Board
makes the determination that such Acquisition Proposal is a Superior Offer and the determinations required under the Merger Agreement

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(after taking into account in each case the results of any such negotiations and giving effect to the proposals made by Parent, if any, and any amendments to the Merger Agreement and the Transactions proposed by Parent, if any).

The above will also apply to any material amendments, revisions or changes to the terms of any Superior Offer, which will require a new Determination Notice, except that the references to four (4) business days will be deemed to be references to two (2) business days.

Additionally, at any time prior to the Offer Acceptance Time, the Inozyme Board may make a Company Adverse Change Recommendation in response to a Change in Circumstance (as defined below). However, such action may be taken if and only if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Inozyme Board determines in good faith (after consultation with its outside legal counsel and financial
advisor) that the failure to do so would be inconsistent with its fiduciary duties to Inozyme's stockholders under applicable laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has provided Parent a Determination Notice at least four (4) business days prior to making any such
Company Adverse Change Recommendation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has specified the Change in Circumstance in reasonable detail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme has given Parent four (4) business days after the Determination Notice to propose revisions to the
terms of the Merger Agreement or make another proposal, so that such Change in Circumstance would no longer necessitate a Company Adverse Change Recommendation, and, to the extent requested by Parent, will have negotiated in good faith with Parent
and its Representatives (and will have made its Representatives reasonably available to discuss and negotiate with Parent and its Representatives) with respect to such proposed revisions or other proposal, if any; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• at the end of such four (4) business day period, the Inozyme Board makes the determination under the terms
of the Merger Agreement (after taking into account, in each case, the results of any such negotiations and giving effect to the proposals made by Parent, if any, and any amendments proposed to the Merger Agreement and the Transactions by Parent, if
any).

The above also will apply to any material changes to the facts and circumstances relating to such Change in Circumstance, such material changes to the facts and circumstances will require a new Determination Notice, and Inozyme will notify Parent of each such material change and the applicable four (4) business day period will be extended until at least three (3) business days after the time that Parent receives notification from Inozyme of each such material change.

For purposes of the Merger Agreement, a "**Change in Circumstance**" means an event, change, effect, development, condition or occurrence occurring or arising after the date of the Merger Agreement that (a) has a material effect on the business, assets or operations of the Acquired Companies, taken as a whole, and, (b) was neither known by the Inozyme Board as of the date of the Merger Agreement nor reasonably foreseeable as of or prior to the date of the Merger Agreement, which event, occurrence, fact or change becomes known to the Inozyme Board prior to the Offer Acceptance Time, other than (i) an Acquisition Proposal, (ii) changes in the market price or trading volume of Inozyme common stock, in and of itself, or (iii) the fact that, in and of itself, Inozyme exceeds any internal or published projections, estimates or expectations for Inozyme's revenues, earnings or other financial performance or results of operations for any period, in and of itself (it being understood that, for purposes of clauses (ii) and (iii), the underlying causes of any such changes or developments may, if they are not otherwise excluded from the definition of "Change in Circumstance," be taken into account in determining whether a Change in Circumstance has occurred).

None of the provisions described above under "*—*No Solicitation" or elsewhere in the Merger Agreement will restrict Inozyme from (a) taking and disclosing to its stockholders a position contemplated by Rule 14e-2(a),

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Rule 14d-9 or Item 1012(a) of Regulation M-A promulgated under the Exchange Act, (b) making any "stop, look and listen" communication pursuant to Rule 14d-9(f) promulgated under the Exchange Act, (c) making any legally required disclosure to the stockholders of Inozyme, so long as any such disclosure that would otherwise constitute a Company Adverse Change Recommendation is taken only in accordance with the provisions described in this "Inozyme Board Recommendation" subsection and it being understood and agreed that any such communication that reaffirms the Inozyme Board Recommendation will be deemed not to be a Company Adverse Change Recommendation, or (d) communicating with any Person or group of Persons (or the representatives of such Person or group of Persons) that makes or renews any Acquisition Proposal at any time on or after the date of the Merger Agreement and prior to the Offer Acceptance Time so long as such Acquisition Proposal did not result from any breach of the Merger Agreement solely to the extent necessary to direct such Person or group of Persons to the provisions of the Merger Agreement and/or solely to clarify and understand the terms and conditions of an Acquisition Proposal made by such Person or group of Persons. None of the foregoing actions will be deemed to constitute a Company Adverse Change Recommendation to the extent that any such disclosure or communication expressly reaffirms the Inozyme Board Recommendation.

***Regulatory Undertakings***

Subject to the terms and conditions of the Merger Agreement, each of Parent, Purchaser and Inozyme have agreed to promptly, but in no event later than ten (10) business days after the date of the Merger Agreement, unless otherwise agreed to in writing by Parent and Inozyme make an appropriate filing of all Notification and Report forms as required by the HSR Act with respect to the Transactions, which filing each of Parent and Inozyme intends to make on or around June 2, 2025. Each of Parent, Purchaser and Inozyme will cooperate with each other in determining whether, and promptly preparing and making, any other filings or notifications or other consents required to be made with, or obtained from, any other Governmental Bodies in connection with the Transactions.

Subject to the terms and conditions of the Merger Agreement, each of Parent, Purchaser and Inozyme have agreed to use their respective reasonable best efforts to take, or cause to be taken, all actions, to file, or cause to be filed, all documents and to do, or cause to be done, and to assist and cooperate with the other Parties in doing, all things necessary, proper or advisable under applicable Antitrust Laws to consummate and make effective the Transactions as soon as practicable, including (a) the obtaining of all necessary actions or nonactions, waivers, consents, clearances, decisions, declarations, approvals and, expirations or terminations of waiting periods from governmental bodies and the making of all necessary registrations and filings and the taking of all steps as may be reasonably necessary to obtain any such consent, decision, declaration, approval, clearance or waiver, or expiration or termination of a waiting period by or from, or to avoid an action or proceeding by, any governmental body in connection with any Antitrust Law; (b) the obtaining of all necessary consents, authorizations, approvals or waivers from third parties; and (c) the execution and delivery of any additional instruments necessary to consummate the Transactions.

Without limiting the foregoing, during the Pre-Closing Period, Parent, Purchaser, and Inozyme also agreed to use their respective reasonable best efforts to (a) cooperate and consult with each other in connection with any filing or submission in connection with any investigation or other inquiry, including allowing the other party to have a reasonable opportunity to review in advance and comment on drafts of filings and submissions, (b) give the other party prompt notice of the making or commencement of any request, inquiry, investigation, action or legal proceeding brought by a governmental body or brought by a third party before any governmental body, in each case, with respect to the Transactions, (c) keep the other party promptly informed as to the status of any such request, inquiry, investigation, action or legal proceeding, (d) promptly inform the other party of any communication to or from the U.S. Federal Trade Commission (the "**FTC**"), U.S. Department of Justice (the "**DOJ**") or any other governmental body in connection with any such request, inquiry, investigation, action or legal proceeding, (e) promptly furnish to the other party, subject to an appropriate confidentiality agreement to limit disclosure to outside counsel and consultants retained by such counsel, with copies of documents provided to or received from any governmental body in connection with any such request, inquiry, investigation, action or

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legal proceeding, (f) subject to an appropriate confidentiality agreement to limit disclosure to counsel and outside consultants retained by such counsel, consult in advance and cooperate with the other party and consider in good faith the views of the other party in connection with any substantive communication, analysis, appearance, presentation, memorandum, brief, argument, opinion or proposal to be made or submitted in connection with any such request, inquiry, investigation, action or legal proceeding, and (g) except as may be prohibited by any governmental body or by any law and to the extent practicable, in connection with any such request, inquiry, investigation, action or legal proceeding in respect of the Transactions, each party will provide advance notice of and permit authorized representatives of the other party to be present at each meeting or conference, including any virtual or telephonic meetings and discussions, relating to such request, inquiry, investigation, action or legal proceeding and to have access to and be consulted in advance in connection with any argument, opinion or proposal to be made or submitted to any governmental body in connection with such request, inquiry, investigation, action or legal proceeding; provided, however, that materials required to be provided pursuant to the foregoing may be redacted (i) to remove references concerning the valuation of Parent, Purchaser, Inozyme, or any of their respective subsidiaries or assets, (ii) as necessary to comply with contractual arrangements, and (iii) as necessary to preserve privilege. Each party will respond as promptly as practicable to requests to provide information, documentation, other material or testimony that may be reasonably requested by any governmental body, including by complying at the earliest reasonably practicable date with any reasonable request for additional information, documents or other materials received by any party or any of their respective Subsidiaries from any governmental body in connection with such applications or filings for the transactions contemplated by the Merger Agreement.

Parent will pay all filing fees under the HSR Act and for any filings required under foreign Antitrust Laws, but Inozyme will bear its own costs for the preparation of any such filings. Neither party will commit to or agree with any governmental body to stay, toll or extend any applicable waiting period under the HSR Act, pull and refile under the HSR Act, not consummate the Transactions for any period of time, or enter into any timing agreement, without the prior written consent of the other party (such consent not to be unreasonably withheld).

***Access to Information***

During the Pre-Closing Period, upon reasonable advance notice to Inozyme, Inozyme and its directors, employees and officers will, and Inozyme will direct its other Representatives to (a) provide Parent and its representatives with reasonable access during Inozyme's normal business hours to Inozyme's officers, employees, other personnel, and assets and to all existing books and records (including tax returns, work papers and other documents and information relating to the Acquired Companies), subject to customary exceptions and limitations as set forth in the Merger Agreement.

***Director and Officer Indemnification and Insurance***

The Merger Agreement provides that, for a period of six (6) years from the Merger Effective Time, all rights to indemnification, advancement of expenses and exculpation by Inozyme existing in favor of those persons who were directors and officers of Inozyme as of the date of the Merger Agreement or have been directors and officers of Inozyme in the past (the "**Indemnified Parties**") for their acts and omissions occurring prior to the Merger Effective Time, including in respect of the Transactions, as provided in the certificate of incorporation and bylaws of Inozyme as of the date of the Merger Agreement, as well as in certain indemnification agreements between said Indemnified Parties and Inozyme made available to Parent or Parent's representatives prior to the date of the Merger Agreement, will survive the Merger and must not be amended, repealed or otherwise modified in any manner that would adversely affect the rights thereunder of such Indemnified Parties, and will be observed by Parent, Inozyme as the Surviving Corporation and their successors and assigns to the fullest extent available under Delaware Law, and any claim made pursuant to such rights within such six (6) year period will be subject to the terms of the Merger Agreement.

The Merger Agreement also provides that, from and after the Merger Effective Time until the sixth anniversary of the date of the closing of the Merger (the "**Closing Date**"), Parent and the Surviving Corporation (together

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with their successors and assigns, the "**Indemnifying Parties**") will, to the fullest extent permitted under applicable laws and the certificate of incorporation of Inozyme (as in effect as of the date of the Merger Agreement), indemnify, defend and hold harmless each Indemnified Party in his or her capacity as an officer or director of Inozyme against all losses, claims, damages, liabilities (including amounts paid in settlement or compromise), fees, expenses, judgments or fines incurred by such Indemnified Party as an officer or director of Inozyme in connection with any pending or threatened Legal Proceeding based on or arising out of, in whole or in part, the fact that such Indemnified Party is or was a director or officer of Inozyme at or prior to the Merger Effective Time and pertaining to any and all matters pending, existing or occurring at or prior to the Merger Effective Time, whether asserted or claimed prior to, at or after the Merger Effective Time, including any such matter arising under any claim based in whole or in part on, or arising in whole or in part out of, or pertaining to the Merger Agreement or the Transactions. Without limiting the foregoing, from the Merger Effective Time until the sixth (6<sup>th</sup>) anniversary of the Closing Date, the Indemnifying Parties will also, to the fullest extent permitted under applicable laws and the certificate of incorporation of Inozyme (as in effect as of the date of the Merger Agreement), advance reasonable and documented out-of-pocket costs and expenses (including reasonable and documented attorneys' fees) incurred b the Indemnified Parties in connection with matters for which such Indemnified Parties are eligible to be indemnified pursuant to the terms of the Merger Agreement and subject to the execution by such Indemnified Parties of appropriate undertakings in favor of the Indemnifying Parties to repay such advanced costs and expenses if it is ultimately determined in a final and non-appealable judgment of a court of competent jurisdiction that such Indemnified Party is not entitled to be indemnified under the Merger Agreement.

The Merger Agreement also provides that, from and after the Merger Effective Time until the sixth anniversary of the Merger Effective Time, the Surviving Corporation must maintain (and Parent must cause the Surviving Corporation to maintain) in effect, a directors' and officers' liability insurance maintained by Inozyme as of the date of the Merger Agreement for the benefit of the Indemnified Parties who were covered by such policy as of the date of the Merger Agreement with respect to their acts and omissions occurring prior to the Merger Effective Time in their capacities as directors and officers of Inozyme (as applicable), on terms with respect to coverage, deductibles and amounts no less favorable than the existing policy. Alternatively, at or prior to the Merger Effective Time, Parent or Inozyme may, through a nationally recognized insurance broker purchase a six-year "tail" policy for Inozyme policy effective as of the Merger Effective Time, subject to the limitations specified under the Merger Agreement.

***Employee Benefits***

For a period of one year following the Merger Effective Time, Parent will provide, or cause to be provided, to each employee of Inozyme who is employed by Inozyme as of immediately prior to the Merger Effective Time and who continues to be employed by Parent or the Surviving Corporation (or any affiliate thereof) during such one-year period (each, a "**Continuing Employee**") (a) (i) base salary (or base wages, as the case may be), (ii) short-term target cash incentive compensation opportunities (including, but not limited to, bonuses and commission opportunities), in each case, in an amount no less than the level or opportunity that was provided to each such Continuing Employee prior to the Merger Effective Time, (b) equity compensation (excluding new-hire grants) in an amount equal to the level or opportunity that is provided by Parent or any subsidiary of Parent to similarly situated employees of Parent or any Subsidiary of Parent, and (c) other employee benefits (including severance benefits, health and welfare benefits and defined contribution retirement benefits) that is no less favorable in the aggregate than either, in Parent's discretion, the employee benefits (including health and welfare benefits and defined contribution retirement benefits), in the aggregate, provided to (x) each such Continuing Employee as of immediately prior to the Merger Effective Time and (y) similarly-situated employees of Parent or any subsidiary of Parent.

From and after the Merger Effective Time, Parent will use commercially reasonable efforts to, or to cause the Surviving Corporation to, ensure that each Continuing Employee receives full credit for purposes of eligibility to participate in benefit accrual, and vacation entitlement for service with Inozyme and its subsidiaries under the

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comparable employee retirement, health and welfare benefit plans of Parent or the Surviving Corporation, as applicable, in which such employees become participants; provided, that the foregoing will not apply with respect to (a) benefit accrual under any defined benefit pension plan or to the extent that its application would result in a duplication of benefits or (b) any equity compensation provided to Continuing Employees. As of the Merger Effective Time, Parent will, or will cause the Surviving Corporation to, credit to Continuing Employees the amount of vacation time that such employees had accrued under any applicable employee plan as of the Merger Effective Time, which will not be subject to accrual limits or forfeiture.

From and after the Merger Effective Time, with respect to each benefit plan maintained by Parent or any of its Subsidiaries that is an "employee welfare benefit plan" as defined in Section 3(1) of ERISA (each, a "**Parent Welfare Plan**") in which any Continuing Employee is or becomes eligible to participate, Parent will use commercially reasonable efforts to cause each such Parent Welfare Plan to (a) waive all limitations as to pre-existing conditions, waiting periods, required physical examinations, and exclusions with respect to participation and coverage requirements applicable under such Parent Welfare Plan for such Continuing Employees and their eligible dependents to the same extent that such pre-existing conditions, waiting periods, required physical examinations, and exclusions would not have applied or would have been waived under the corresponding Inozyme employee plan in which such Continuing Employee was a participant immediately prior to such Continuing Employee's commencement of participation in such Parent Welfare Plan; provided, however, that for purposes of clarity, to the extent such benefit coverage includes eligibility conditions based on periods of employment, the provisions in the paragraph immediately above with respect to service credit will control; and (b) provide each Continuing Employee and their eligible dependents with credit for any co-payments and deductibles paid in the calendar year that, and prior to the date that, such Continuing Employee commences participation in such Parent Welfare Plan in satisfying any applicable co-payment, deductible or out-of-pocket maximum requirements under such Parent Welfare Plan for the applicable calendar year, to the extent that such expenses were recognized for such purposes under the comparable employee plan.

Effective as of no later than the day immediately preceding the Closing Date, if requested by Parent in writing at least ten (10) business days prior to the Closing Date, Inozyme will cause its 401(k) Plan (the "**401(k) Plan**") to be terminated. If Parent provides such written notice to Inozyme, Inozyme will provide Parent with evidence that the 401(k) Plan has been terminated (effective as of no later than the day immediately preceding the Closing Date), and Inozyme will have taken all steps necessary to terminate the 401(k) Plan as Parent may reasonably require.

***Transaction Litigation***

Inozyme has agreed to promptly notify Parent of any claim or Legal Proceeding (including any class action or derivative litigation) asserted or commenced by, on behalf of or in the name of, against or otherwise involving Inozyme, the Inozyme Board, any committee thereof and/or any of Inozyme's directors or officers relating directly or indirectly to the Merger Agreement, the Merger or any of the Transactions or disclosures of a party relating to the Transactions (including any such claim or legal proceeding based on allegations that Inozyme's entry into the Merger Agreement or the terms and conditions of the Merger Agreement or any of the Transactions constituted a breach of the fiduciary duties of any member of the Inozyme Board or any officer of Inozyme) or alleging or asserting any misrepresentation or omission in the Offer Documents or Schedule 14D-9 or any other related SEC filings by Inozyme (collectively, any "**Transaction Litigation**") threatened or commenced against Inozyme and/or its directors or officers. Inozyme has also agreed to give Parent the right to review and comment on all material filings or responses to be made by Inozyme in connection with such Transaction Litigation, and the right to consult on the settlement with respect to such Transaction Litigation, and Inozyme must in good faith take such comments into account; provided, however, that Inozyme will control such defense. No such settlement may be agreed to without Parent's prior written consent (such consent not to be unreasonably withheld, conditioned or delayed), except to the extent the settlement is fully covered by Inozyme's insurance policies (other than any applicable deductible), but only if such settlement would not result in the imposition of any restriction on the business or operations of Inozyme. Inozyme will keep Parent reasonably informed with respect to the status of any such Transaction Litigation.

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***Takeover Laws***

If any "moratorium," "control share acquisition," "fair price," "supermajority," "affiliate transactions," "business combination statute or regulation" or other similar state anti-takeover laws and regulations (each, a "**Takeover Law**") may become, or may purport to be, applicable to the Offer, the Merger or any of the other Transactions, each of Parent and Inozyme and the members of their respective boards of directors will use their respective reasonable best efforts to grant such approvals and take such actions as are necessary so that the Offer, the Merger and the other Transactions may be consummated as promptly as practicable on the terms and conditions contemplated by the Merger Agreement and otherwise act to lawfully eliminate the effect of any Takeover Law on any of the Offer, the Merger or the other Transactions.

***Section 16 Matters***

The Merger Agreement provides that Inozyme and the Inozyme Board will, to the extent necessary, take appropriate action, prior to or as of the Offer Acceptance Time, to approve, for purposes of Section 16(b) of the Exchange Act, the disposition and cancellation or deemed disposition and cancellation of the Shares and Inozyme Awards in the Transactions by applicable Section 16 individuals and to cause such dispositions or cancellations to be exempt under Rule 16b-3 promulgated under the Exchange Act.

***Rule 14d-10 Matters***

The Merger Agreement provides that, prior to the Merger Effective Time and to the extent permitted by applicable law, the Compensation Committee will approve, as an "employment compensation, severance or other employee benefit arrangement" within the meaning of Rule 14d-10(d)(2) under the Exchange Act, each agreement, arrangement or understanding between Inozyme or any of its affiliates and any of the officers, directors or employees of Inozyme that are effective as of the date of the Merger Agreement or are entered into after the date of the Merger Agreement and prior to the Merger Effective Time pursuant to which compensation is paid to such officer, director or employee and will take all other action reasonably necessary to satisfy the requirements of the non-exclusive safe harbor set forth in Rule 14d-10(d)(2) under the Exchange Act.

***Stock Exchange Delisting and Deregistration***

Inozyme has agreed to, prior to the Closing, cooperate with Parent and to use its reasonable best efforts to take, or cause to be taken, all actions, and do or cause to be done all things, reasonably necessary, proper or advisable on its part under applicable laws and rules and policies of Nasdaq to enable the delisting by the Surviving Corporation of the Shares from Nasdaq and the deregistration of the Shares under the Exchange Act as promptly as practicable after the Merger Effective Time.

***Conditions to the Offer***

See "—Section 15—Conditions to the Offer."

***Conditions to the Merger***

The obligations of each party to consummate the Merger are subject to the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• There will not have been issued by any court of competent jurisdiction and remain in effect any temporary,
preliminary or permanent Order preventing the consummation of the Merger, nor will any law or Order have been promulgated, entered, enforced, enacted, issued or deemed applicable to the Merger by any governmental body of competent jurisdiction and
remain in effect which directly or indirectly prohibits, or makes illegal the consummation of the Merger; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchaser (or Parent on Purchaser's behalf) will have accepted for payment all of the Shares validly
tendered pursuant to the Offer and not validly withdrawn.

***Termination***

The Merger Agreement may be terminated under any of the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by mutual written consent of Parent and Inozyme at any time prior to the Offer Acceptance Time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by either Parent or Inozyme if the Offer Acceptance Time has not occurred on or before midnight, Eastern Time, on
November 16, 2025 (the "**End Date** "); provided, however, that if on November 16, 2025 all of the Offer Conditions, other than the Regulatory Condition and those conditions that by their nature are to be satisfied at the time
that the Offer expires, will have been satisfied or waived by Parent, then the End Date will automatically be extended until February 16, 2026 (and all references to the End Date in the Merger Agreement, including in Annex I, will be deemed to
be references to February 16, 2026); provided, further, that neither Parent nor Inozyme will be permitted to terminate the Merger Agreement in the event that the failure of the Offer Acceptance Time to occur on or prior to the End Date is
attributable to the failure on the part of such party to perform in any material respect any covenant or obligation in the Merger Agreement required to be performed by such party. We refer to any termination of the Merger Agreement pursuant to this
provision as a "**Termination Upon End Date** ";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by either Parent or Inozyme if a court or other governmental body of competent jurisdiction has issued an Order,
having the effect of permanently restraining, enjoining or otherwise prohibiting the acceptance for payment of Shares pursuant to the Offer or the Merger or making consummation of the Offer or the Merger illegal, which Order is final and
nonappealable. No party will be permitted to terminate the Merger Agreement pursuant to this provision in the event that such party's failure to perform in any material respect any provision of the Merger Agreement will have been the primary
cause of, or resulted in, the issuance of such final and nonappealable order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by Parent, at any time prior to the Offer Acceptance Time, if: (a) the Inozyme Board has failed to include
the Inozyme Board Recommendation in the Schedule 14D-9 when mailed, or has effected a Company Adverse Change Recommendation (provided, that any written notice, including a Determination Notice, of
Inozyme's intention to make an Adverse Change Recommendation in advance of making a Company Adverse Change Recommendation having not resulted in Parent having any termination rights under the Merger Agreement unless such written notice
otherwise constitutes a Company Adverse Change Recommendation); (b) the Inozyme Board has failed to publicly reaffirm its recommendation of the Merger Agreement within ten (10) business days after Parent so requests in writing; provided that
Parent may only make such request once every thirty days; or (c) in the case of a tender offer or exchange offer subject to Regulation 14D under the Exchange Act (other than the Offer), the Inozyme Board fails to recommend, in a Tender Offer
Solicitation/Recommendation Statement on Schedule 14D-9, rejection of such tender offer or exchange offer within ten (10) business days of the commencement of such tender offer or exchange offer. We refer
to any termination of the Merger Agreement pursuant to this provision as a "**Termination Upon Trigger Event** ";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by Parent, at any time prior to the Offer Acceptance Time, if a breach of any representation or warranty
contained in Article 4 of the Merger Agreement or failure to perform any covenant or obligation in the Merger Agreement on the part of Inozyme has occurred such that the Representations Condition or the Obligations Condition would not be satisfied
and cannot be cured by Inozyme by the End Date, or if capable of being cured by the End Date, has not been cured within 30 days of the date on which Parent gives Inozyme written notice of such breach or failure to perform. Parent will not have the
right to terminate the Merger Agreement pursuant to this provision if either Parent or Purchaser is then in material breach of any of its respective representation, warranty, covenant or obligation hereunder. We refer to any termination of the
Merger Agreement pursuant to this provision as a "**Termination Upon Inozyme Breach** ";

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by Inozyme, at any time prior to the Offer Acceptance Time, in order to accept a Superior Offer and enter into a
binding written definitive acquisition agreement providing for the consummation of a transaction constituting a Superior Offer, only if Inozyme has complied in all material respects with its obligations described under "*—No Solicitation*" and "*—Inozyme Board Recommendation*," with respect to such Superior Offer and substantially concurrently with such termination Inozyme pays to Parent the Termination Fee (as defined below). We refer to any
termination of the Merger Agreement pursuant to this provision as a "**Termination for Superior Offer** ";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by Inozyme, at any time prior to the Offer Acceptance Time, if a breach of any representation or warranty
contained in Article 5 of the Merger Agreement or failure to perform any covenant or obligation in the Merger Agreement on the part of Parent or Purchaser has occurred, in each case if such breach or failure would reasonably be expected to prevent
Parent or Purchaser from consummating the Transactions and such breach or failure cannot be cured by Parent or Purchaser, as applicable, by the End Date, or if capable of being cured, has not been cured within 30 days of the date Inozyme gives
Parent written notice of such breach or failure to perform. Inozyme will not be permitted to terminate the Merger Agreement pursuant to this provision if Inozyme is then in material breach of any representation, warranty, covenant or obligation
hereunder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by Inozyme in the event that (a) Purchaser has failed to commence (within the meaning of Rule 14d-2 under the Exchange Act) the Offer by the time the Offer is required to be commenced pursuant to the Merger Agreement (other than due to a breach by Inozyme of its obligations under the Merger Agreement), (b)
Purchaser has terminated the Offer prior to the effective Expiration Date (as such Expiration Date is extended and re-extended in accordance with the Merger Agreement) unless otherwise permitted to do so
pursuant to the Merger Agreement, or (c) Purchaser has failed to purchase all Shares validly tendered (and not validly withdrawn) when required to do so in accordance with the terms of the Merger Agreement.

***Effect of Termination***

If the Merger Agreement is terminated pursuant to its terms, it will be of no further force or effect and there will be no liability on the part of Parent, Purchaser or Inozyme or their respective directors, officers and affiliates following any such termination, except that (a) certain specified provisions of the Merger Agreement, as well as the Non-Disclosure Agreement (as defined and described below), will survive such termination, including the provisions described in "—Termination Fees" below, and (b) no such termination will relieve any party from any liability or damages to the other in respect of any common law fraud or Willful Breach of the Merger Agreement prior to such termination.

***Termination Fees***

Inozyme will pay Parent a termination fee of $8,700,000 in cash (the "**Termination Fee**") in the event that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Merger Agreement is terminated by Inozyme pursuant to a Termination for Superior Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Merger Agreement is terminated by Parent pursuant to a Termination Upon Trigger Event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) (i) the Merger Agreement is terminated pursuant to a Termination Upon End Date (but, in the case of a
termination by Inozyme, only if at such time Parent would not be prohibited from terminating the Merger Agreement pursuant to a Termination Upon End Date), or (ii) a Termination Upon Inozyme Breach (only if the relevant breach giving rise to
the right of termination constitutes a Willful Breach (as defined in the Merger Agreement)), (b) after the date of the Merger Agreement and prior to such termination, a person has publicly disclosed a *bona fide* Acquisition Proposal and such
Acquisition Proposal has not been publicly withdrawn prior to the time of the termination of the Merger Agreement and (c) within twelve months of such termination, Inozyme has consummated the transactions contemplated by an Acquisition Proposal
or entered into a definitive agreement with respect to an

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Acquisition Proposal (which Acquisition Proposal is subsequently consummated (with the references to "20%" in the definition of "Acquisition Proposal" being deemed to be references to "50%"). <br>

Inozyme will pay, or will cause to be paid, to Parent the Termination Fee by wire transfer of same day funds to an account designed in writing by Parent (a) in the case of a termination by Inozyme pursuant to a Termination for Superior Offer, substantially concurrently with the termination of the Merger Agreement (it being agreed that if such termination occurs on a day that is not a business day, "substantially concurrently", will mean no later than on the next business day), (b) in the case of a termination by Parent in accordance with a Termination Upon Trigger Event, within two business days after such termination or (b) in the case of a termination pursuant to a Termination Upon End Date or Termination Upon Inozyme Breach (solely if the relevant breach giving rise to a right of termination under a Termination Upon Inozyme Breach constitutes a Willful Breach), and solely under the circumstances described immediately prior to the consummation of the Acquisition Proposal referred to in such bullet.

Inozyme will not be required to pay the Termination Fee on more than one occasion. Except in the case of common law fraud or Willful Breach, in the event that Parent or its designee receives full payment of the Termination Fee, the receipt of the Termination Fee will be deemed to be liquidated damages for any and all losses or damages suffered or incurred by Parent, Purchaser, any of their respective affiliates and representatives or any other person in connection with the Merger Agreement (and the termination hereof), the Transactions (and the abandonment thereof) or any matter forming the basis for such termination, and none of Parent, Purchaser, any of their respective affiliates and representatives (collectively, "**Parent Related Parties**") or any other person will be entitled to bring or maintain any claim, action or proceeding against Inozyme, any of its affiliates or any of its representatives arising out of, relating to, or in connection with, the Merger Agreement, any of the Transactions or any matters forming the basis for such termination (other than in the case of common law fraud or Willful Breach).

Subject to the terms of the Merger Agreement, Parent's right to receive payment from Inozyme of the Termination Fee will be the sole and exclusive remedy of Parent Related Parties against Inozyme and any of their respective former, current or future officers, directors, partners, stockholders, optionholders, managers, members, Affiliates or Representatives (collectively, "**Company Related Parties**") in any circumstance in which the Termination Fee becomes due and payable (other than common law fraud and Willful Breach), and upon payment of such amount, none of the Company Related Parties will have any further liability or obligation relating to, arising out of, or in connection with, the Merger Agreement or the Transactions.

Pursuant to the Merger Agreement, Parent and Purchaser may seek specific performance to cause Inozyme to consummate the Transactions in accordance with the terms of the Merger Agreement or the payment of the Termination Fee, but in no event will Parent or Purchaser be entitled to both (a) equitable relief ordering Inozyme to consummate the Transactions and (b) the payment of the Termination Fee.

***Fees and Expenses***

Except in limited circumstances expressly specified in the Merger Agreement, all fees and expenses incurred in connection with the Merger Agreement and the Transactions will be paid by the party incurring such fees or expenses, whether or not the Offer and the Merger are consummated.

***Specific Performance***

Parent, Purchaser and Inozyme have agreed that irreparable damage, for which monetary damages (even if available) would not be an adequate remedy, would occur in the event that the parties to the Merger Agreement do not perform their obligations under the provisions of the Merger Agreement in accordance with its specified terms or if they otherwise breach such provisions. Accordingly, each party will be entitled to an injunction or injunctions, specific performance, or other equitable relief to prevent breaches of the Merger Agreement and to

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enforce specifically the terms and provisions of the Merger Agreement, in addition to any other remedy to which they are entitled under the terms of the Merger Agreement.

***Governing Law***

The Merger Agreement is governed by and will be construed in accordance with the laws of the State of Delaware, regardless of the Laws that might otherwise govern under the applicable principles of conflicts of laws thereof.

**Other Agreements** 

***Support Agreements***

The following is a summary of the material provisions of the Support Agreements (as defined below). The following description of the Support Agreements is only a summary and is qualified in its entirety by reference to the Form of Tender and Support Agreement, a copy of which is filed as Exhibit (d)(2) to the Schedule TO and is incorporated herein by reference.

Concurrently with entry into the Merger Agreement, Parent entered into Support Agreements (as they may be amended from time to time, the "**Support Agreements**"), dated as of May 16, 2025, with certain stockholders of Inozyme (collectively, the "**Supporting Stockholders**"). Collectively, these stockholders have beneficial ownership of approximately 11.2% of the Shares (excluding Shares represented by vested and unvested Inozyme Options and Inozyme RSUs they hold).

Each Support Agreement provides that the Supporting Stockholder will tender into the Offer, and not withdraw or cause to be withdrawn, all outstanding Shares each Supporting Stockholder owns of record or beneficially (within the meaning of Rule 13d-3 under the Exchange Act) as of the date of the Support Agreement (the "**Owned Shares**") or that the Supporting Stockholder acquires after such date (the "**Additional Owned Shares**" and, together with the Owned Shares, the "**Covered Shares**"). Each Supporting Stockholder's Covered Shares must be tendered into the Offer promptly, and in any event no later than the latest of (but in any event prior to the Expiration Date): (a) ten (10) business days following the commencement of the Offer; and (b) in the case of Additional Owned Shares, the earlier of (i) three (3) business days following the acquisition of such Additional Owned Shares and (ii) one (1) business day prior to the Expiration Date.

Each Supporting Stockholder has also agreed to vote, or execute consents with respect to, all of the Supporting Stockholder's Covered Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in favor of the approval of any proposal considered and voted upon by Inozyme stockholders at any meeting of the
stockholders of Inozyme (or by written consent) necessary or desirable to effect the consummation of the Offer, Merger or the other Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• against any proposal, action or agreement that would reasonably be expected to (a) prevent or nullify any
provision of the Support Agreements, (b) result in a breach of any covenant, representation or warranty or other obligation or agreement of the Supporting Stockholders or Inozyme contained in the Merger Agreement, or (c) result in any of
the Offer Conditions or conditions to the Merger as set forth in the Merger Agreement not being satisfied or not being fulfilled prior to the Termination Date (as defined in Section 3 of the Support Agreements);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• against any Acquisition Proposal, or any other proposal made in opposition to, in competition with, or
inconsistent with, the Merger Agreement, the Offer, the Merger or the other Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• against any (a) merger, consolidation, business combination, share exchange, reorganization,
recapitalization, dissolution, liquidation, winding up or similar extraordinary transaction involving the Acquired Companies (as defined in the Merger Agreement), or (b) sale, lease, license or transfer

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involving the Company Product (as defined in the Merger Agreement) or a material amount of assets (including, for the avoidance of doubt, any Intellectual Property (as defined in the Merger Agreement) or capital stock of any subsidiary) of the Acquired Companies, taken as a whole, or agreement relating to the foregoing (other than the Merger Agreement and the Transactions); <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• against any change in or to (a) the Inozyme Board that is not recommended or approved by the Inozyme Board,
(b) the present capitalization or corporate structure of Inozyme or (c) the Certificate of Incorporation of Inozyme not consented to by Parent under the Merger Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• against any other action, agreement or proposal which would reasonably be expected to prevent or materially
impede or materially delay the consummation of the Offer, the Merger or any of the other Transactions.

Each Support Agreement will terminate automatically and without further action upon the earliest of (a) the valid termination of the Merger Agreement in accordance with its terms, (b) the Merger Effective Time, (c) any modification or amendment to the Merger Agreement or the Offer that is effected without the Supporting Stockholder's prior written consent and which modification or amendment decreases the Offer Price or changes the form of consideration payable to the Supporting Stockholder pursuant to the terms of the Merger Agreement, or (d) the mutual written consent of Parent and such Supporting Stockholder.

The foregoing summary of the Support Agreements does not purport to be complete and is qualified in its entirety by reference to the Form of Tender and Support Agreement, a copy of which Purchaser has filed with the SEC as Exhibit (d)(2) to the Tender Offer Statement on Schedule TO and is incorporated herein by reference.

***Mutual Non-Disclosure Agreement***

On May 8, 2024, Inozyme and Parent entered into a mutual non-disclosure agreement (the "**Non-Disclosure Agreement**"), pursuant to which the parties agreed to customary restrictions on the use and disclosure of confidential information furnished in connection with a potential business or collaborative relationship. The Non-Disclosure Agreement includes customary provisions regarding the treatment of confidential information, the return or destruction of materials upon request, exclusions from the definition of confidential information, and the right to seek equitable relief for unauthorized disclosures. The Non-Disclosure Agreement does not contain a standstill provision or any non-solicitation provision, and expires in accordance with its terms on May 8, 2027. The foregoing summary of the Non-Disclosure Agreement does not purport to be complete and is qualified in its entirety by reference to the Non-Disclosure Agreement, a copy of which is filed with the SEC as Exhibit (d)(3) to the Tender Offer Statement on Schedule TO and is incorporated herein by reference.

***Exclusivity Agreement.***

On May 10, 2025, Inozyme and Parent entered into an exclusivity agreement (the "**Exclusivity Agreement**") pursuant to which the parties agreed to negotiate exclusively with each other regarding a potential transaction until 11:59 p.m., Pacific Time, on May 12, 2025 with automatic and successive extensions by 24 hours without further action of either party if neither party provided notice of termination by 5:00 p.m., Pacific Time on the then current expiration date of the exclusivity period. Under the terms of the Exclusivity Agreement, Inozyme agreed that, during the exclusivity period, neither it nor its representatives would, among other things, solicit, induce or knowingly facilitate any inquiries, proposals, or offers relating to, or engage in discussions or negotiations regarding, any alternative acquisition proposal. The foregoing summary of the Exclusivity Agreement does not purport to be complete and is qualified in its entirety by reference to the Exclusivity Agreement, a copy of which is filed with the SEC as Exhibit (d)(4) to the Tender Offer Statement on Schedule TO and is incorporated herein by reference.

**14. Dividends and Distributions** 

The Merger Agreement provides that during the Pre-Closing Period, except (a) as required under the Merger Agreement or as required by applicable laws, (b) with the written consent of Parent (which consent will not be

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unreasonably withheld, conditioned or delayed), or (c) as set forth in the Disclosure Letter, Inozyme will not, and will cause each of its subsidiaries not to, establish a record date for, declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares of Inozyme's capital stock (including the Shares) other than certain specific exceptions contained in the Merger Agreement.

**15. Conditions to the Offer** 

Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-l(c) under the Exchange Act relating to Purchaser's obligation to pay for or return tendered Shares promptly after termination or withdrawal of the Offer) pay for any Shares, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn as of immediately prior to the expiration of the Offer), and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares: (a) if the Merger Agreement has been terminated in accordance with its terms; and (b) at any scheduled Expiration Date (subject to any extensions of the Offer pursuant to the terms of the Merger Agreement), if (i) any of the Minimum Condition, the Termination Condition, the Order Condition, or the Regulatory Condition have not been satisfied by the Expiration Date; or (ii) any of the additional conditions set forth below have not been satisfied or waived in writing by Parent as of the Expiration Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the number of Shares (a) validly tendered (and not validly withdrawn) prior to the Expiration Date and
(b) otherwise beneficially owned by Parent or Purchaser (or any wholly-owned subsidiary of Parent or Purchaser), if any, collectively represent at least one Share more than 50% of the then-issued and outstanding Shares as of the expiration of
the Offer (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)) (the "**Minimum Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• (a) the representations and warranties of Inozyme set forth in Section 4.4(a), Section 4.4(c) and
Section 4.4(e) (*Capitalization, Etc.*) of the Merger Agreement will have been accurate in all respects except for any de minimis inaccuracies as of the date of the Merger Agreement and will be accurate in all respects except for any de
minimis inaccuracies at and as of the Offer Acceptance Time as if made on and as of such time (except representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date or time); (b)
the representations and warranties of Inozyme set forth in Section 4.1 (*Due Organization; Subsidiaries Etc.*) Section 4.4 (*Capitalization, Etc.*) (other than Section 4.4(a), Section 4.4(c) and Section 4.4(e)),
Section 4.3 (*Authority; Binding Nature of Agreement*), Section 4.26 (*Merger Approval*) and Section 4.28 (*Brokers and Other Advisors*) of the Merger Agreement will have been accurate (disregarding for this purpose all
"Material Adverse Effect" and "materiality" qualifications contained in such representations and warranties) in all material respects as of the date of the Merger Agreement and will be accurate (disregarding for this purpose all
"Material Adverse Effect" and "materiality" qualifications contained in such representations and warranties) in all material respects at and as of the Offer Acceptance Time as if made on and as of such time (except
representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date or time); (c) the representations and warranties of Inozyme set forth in Section 3.5(a) (*Absence of Changes*) will have been accurate as of the date of the Merger Agreement and will be accurate at and as of the Offer Acceptance Time as if made on and as of such time (it being understood that the accuracy of those representations or warranties
that address matters only as of a specific date will be measured (subject to the applicable materiality standard set forth in this clause (c) only as of such date)); (d) all of the other representations and warranties of Inozyme set forth in
the Merger Agreement (other than those referred to in clauses (a), (b) and (c) above) will have been accurate (disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications contained in such
representations and warranties) in all respects as of the date of the Merger Agreement and will be accurate (disregarding for this purpose all "Material Adverse Effect" and "materiality" qualifications contained in such
representations and warranties) in all respects at and as of the Offer Acceptance Time as if made on and as of such time

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(except representations and warranties that by their terms speak specifically as of another date or time, in which case as of such other date or time), except where any failure of any representation or warranty to be so accurate has not had, and would not reasonably be expected to have, a Material Adverse Effect (the "**Representations Condition**"); <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme having complied with or performed in all material respects all of Inozyme's covenants and agreements
it is required to comply with or perform at or prior to the Offer Acceptance Time (the "**Obligations Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• since the date of the Merger Agreement, there will not have occurred any Material Adverse Effect (as defined in
the Merger Agreement and described in more detail in "The Offer—Section 15—Conditions to the Offer") that is continuing as of the Offer Acceptance Time (the "**MAE Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the waiting period (or any extension thereof) applicable to the Offer under the HSR Act and any timing agreement
with any governmental body has expired or been terminated (the "**Regulatory Condition** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Parent and Purchaser having received a certificate executed on behalf of Inozyme by Inozyme's Chief
Executive Officer or its Chief Financial Officer confirming that the Representations Condition, the Obligations Condition and the MAE Condition have been duly satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• there not having been issued by any court of competent jurisdiction or remaining in effect any temporary,
preliminary or permanent order preventing the acquisition of or payment for Shares pursuant to the Offer, nor any law or order promulgated, entered, enforced, enacted, issued or deemed applicable to the Offer or the Merger by any governmental body
of competent jurisdiction that remains in effect that directly or indirectly enjoins, restrains or otherwise prohibits, or makes illegal, the acquisition of or payment for Shares pursuant to the Offer, or the consummation of the Merger (the
" **Order Condition** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Merger Agreement not having been terminated in accordance with its terms (the "**Termination Condition** ").

The Offer is not subject to, or contingent upon, any financing condition.

The foregoing conditions are in addition to, and not a limitation of, the rights of Parent and Purchaser to extend, terminate or modify the Offer pursuant to the terms of the Merger Agreement. The foregoing conditions are for the sole benefit of Parent and Purchaser and, except for the Minimum Condition, the Termination Condition, the Order Condition or the Regulatory Condition (which may only be waived with the prior written consent of Inozyme), may be waived by Parent or Purchaser in whole or in part at any time and from time to time and in the sole discretion of Parent or Purchaser, subject in each case to the terms of the Merger Agreement and applicable law. Any reference in this Section 15 or in the Merger Agreement to a condition or requirement being satisfied will be deemed to be satisfied if such condition or requirement is so waived. The failure by Parent, Purchaser or any other affiliate of Parent at any time to exercise any of the foregoing rights will not be deemed a waiver of any such right, the waiver of any such right with respect to particular facts and circumstances will not be deemed a waiver with respect to any other facts and circumstances and each such right will be deemed an ongoing right that may be asserted at any time and from time to time.

The term "**Material Adverse Effect**" means any change, effect, circumstance, fact, event or occurrence (each, an "**Effect**") which, individually or in the aggregate with all other Effects, either (a) has had, or would reasonably be expected to have, individually or in the aggregate, a material adverse effect on the business, assets, financial condition or results of operations of the Acquired Companies, taken as a whole or (b) has prevented or materially delayed, or would reasonably be expected to prevent or materially delay, the consummation by Inozyme of the Offer or the Merger; provided, that, in the case of clause (a) of this definition, none of the following will be deemed in and of themselves, either alone or in combination, to constitute, and none of the following will be taken into account in determining whether there is, or would reasonably be expected to be, a Material Adverse Effect: (i) any Effect generally affecting the U.S. or foreign economies, financial, credit, banking, capital,

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currency or securities markets, or political, legislative, or regulatory conditions (including a government shutdown), in the United States or any other country or region in the world including any disruption thereof and the outcome of any election or changes therein, including (A) changes in interest rates in the United States or any other country and changes in exchange rates for the currencies of any countries, (B) any suspension of trading in securities (whether equity, debt, derivative or hybrid securities) generally on any securities exchange or over-the-counter market operating in the United States or any other country or region in the world, or (C) inflation or any changes in the rate of increase or decrease of inflation; (ii) any Effect arising out of general conditions in any industry in which the Acquired Companies operate; (iii) any Effect arising out of or otherwise relating to fluctuations in the value of any currency exchange, interest or inflation rates or tariffs; (iv) any Effect arising out of any change (or proposed change) in the United States generally accepted accounting principles ("***GAAP***") or other accounting standards or any compliance with or action taken for the purpose of complying with GAAP or other accounting standards (or enforcement or interpretation of any of the foregoing); (v) (A) any Effect arising out of any changes or proposed changes in law or other legal or regulatory conditions or any compliance with or action taken for the purpose of complying with any law or other legal or regulatory conditions (or the enforcement or interpretation of any of the foregoing), including the adoption, implementation, repeal, modification, reinterpretation or proposal of any law or policy (or the enforcement or interpretation thereof) by any governmental body, or any panel or advisory body empowered or appointed thereby or (B) any Effect arising out of or resulting from the Inflation Reduction Act of 2022, or any changes or proposed changes to such law; (vi) any Effect arising out of or otherwise relating to any act of terrorism, cyberterrorism (whether or not or sponsored by a governmental body), outbreak of hostilities, acts of war, trade war, national or international calamity or any other similar event (or the escalation of any of the foregoing), including any acts of war or hostilities or sanctions imposed in connection with the current disputes involving (A) the Russian Federation and Ukraine or (B) Israel, Hamas, Lebanon, Syria, Iran and any other state or non-state actors involved; (vii) any Effect arising out of earthquakes, hurricanes, tsunamis, tornadoes, floods, mudslides, wild fires, weather conditions, epidemics, pandemics, quarantines, plagues, other outbreaks of illness or public health events or other natural or man-made disasters or any acts of god, force majeure events, weather or environmental events, health emergencies, pandemics or epidemics (or the escalation of any of the foregoing) and any governmental or industry responses thereto in the United States or any other country or region in the world, or any escalation of the foregoing; (viii) any change in the market price or trading volume of Inozyme's stock or change in Inozyme's credit ratings; (ix) any failure by Inozyme to meet, or changes to, published or internal or analysts' expectations, projections, forecasts, guidance, milestones or forecasts of revenue, estimates, expenses, earnings or loss, cash burn-rate, cash flow, cash position or any other financial or performance measures or operating statistics (whether made by Inozyme or any third parties); (x) to the extent not involving any wrongdoing by any of the Acquired Companies or any of their respective Affiliates or Representatives acting on behalf of any of the Acquired Companies and other than for purposes of any representation or warranty contained in Section 4.14 (*Regulatory Matters*) or Section 4.17 (*Governmental Authorizations*) of the Merger Agreement, regulatory, preclinical or clinical, or manufacturing Effects relating to or affecting any Company Product (as defined in the Merger Agreement) or any product or product candidate competitive with or related to any Company Product, including (A) any suspension, rejection, refusal of, request to refile or any delay in obtaining, making or maintaining any regulatory application, filing or approval relating to any Company Product, (B) any regulatory actions, requests, recommendations, determinations or decisions of any governmental body relating to any Company Product or any product or product candidate competitive with or related to any Company Product (or the manufacture, commercialization or sale thereof), (C) any delay, hold or termination of any preclinical or clinical study, trial or test with respect to any Company Product, any delay, hold or termination of any planned application for marketing or pricing approval with respect to any Company Product, or any delay in launching commercial sales of any Company Product in any jurisdiction, (D) any results, outcomes, data, adverse events, side effects (including toxicity) or safety observations (including increased incidence or severity of any of the foregoing) related to or arising from any preclinical or clinical studies, trials or tests or otherwise with respect to any Company Product or any product or product candidate competitive with or related to any Company Product, or announcements of any of the foregoing, (E) approval by the FDA or another governmental body, market entry or threatened market entry of any product or product candidate competitive with or related to any Company Product, (F) any adverse events affecting patient enrollment or failure to participate with respect to clinical trials

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for any Company Product, (G) any production or supply chain disruption affecting the manufacture of any Company Product, (H) any delay, hold or termination of approval with respect to the manufacture, processing, packing or testing of any Company Product or with respect to any manufacturing facilities, or (I) any recommendations, statements, decisions or other pronouncements made, published or proposed by professional medical organizations, payors, Governmental Bodies or representatives of any of the foregoing, or any panel or advisory body empowered or appointed thereby, relating to any Company Product or any product or product candidate competitive with or related to any Company Product; (xi) any Effect or other matter resulting from the announcement or pendency of the Merger Agreement (other than for purposes of any representation or warranty contained in Section 4.5 (*Non-Contravention; Consents*) of the Merger Agreement); (xii) (A) any adverse Effect arising directly out of or otherwise directly relating to any action taken by Inozyme at the written direction of Parent, or (B) any action specifically required to be taken by Inozyme by the Merger Agreement; (xiii) any Effect arising out of or relating to Parent's or Purchaser's breach of the Merger Agreement; (xiv) any Transaction Litigation or any demand or Legal Proceeding for appraisal of the fair value of any Shares pursuant to the DGCL in connection herewith; or (xv) any item or matter set forth in the Disclosure Letter. However, in the cases of clauses (i), (ii), (iv), (v), (vi), (vii), (vii) and (ix) such exclusion is not applicable to the extent such matter has a disproportionate Effect on Inozyme relative to other companies in the industries in which Inozyme operates that are of a similar size to Inozyme. Furthermore, in the cases of clauses (viii) and (ix), and (xi), the underlying causes of any such Effect may be considered in determining whether a Material Adverse Effect occurred to the extent not otherwise excluded by another exception in this definition.

**16. Certain Legal Matters; Regulatory Approvals** 

***General***

Except as discussed below in this Section 16, based on our examination of publicly available information filed by Inozyme with the SEC and a review of certain information furnished by Inozyme to Purchaser, we are not aware of any governmental license or regulatory permit that appears to be material to Inozyme's business that might be adversely affected by our acquisition of Shares pursuant to the Offer or of any approval or other action by any government or governmental authority or agency, domestic, foreign or super national, that would be required for our acquisition or ownership of Shares pursuant to the Offer. Should any such approval or other action be required or desirable, we currently contemplate that such approval or other action will be sought. Except as described below, there is no current intent to delay the purchase of Shares tendered pursuant to the Offer pending the outcome of any such matter. We are unable to predict whether we will determine that we are required to delay the acceptance for payment of or payment for Shares tendered pursuant to the Offer pending the outcome of any approval or other action not described below. There can be no assurance that any such approval or other action, if needed, would be obtained (with or without substantial conditions) or that if such approvals were not obtained or such other actions were not taken adverse consequences might not result to Inozyme's business or certain parts of Inozyme's business might not have to be disposed of, any of which could cause Purchaser to elect to terminate the Offer without the purchase of Shares thereunder. Our obligation under the Offer to accept for payment and pay for Shares is subject to the satisfaction of the Minimum Condition, and the satisfaction or waiver of the Regulatory Condition, the Obligations Condition and the other conditions set forth in "—Section 15—Conditions to the Offer."

***State Takeover Statutes***

As a Delaware corporation, Inozyme is subject to Section 203 of the DGCL. In general, Section 203 of the DGCL prevents a Delaware corporation from engaging in a "business combination" (defined to include mergers and certain other actions) with an "interested stockholder" (including a person who owns or has the right to acquire 15% or more of a corporation's outstanding voting stock) for a period of three years following the date such person became an "interested stockholder" unless, among other things, the "business combination" is approved by the board of directors of such corporation before such person became an "interested stockholder." Inozyme has represented to Purchaser in the Merger Agreement that, assuming the accuracy of certain

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representations and warranties made by Purchaser and Parent, the Inozyme Board has taken all action necessary to render Section 203 of the DGCL inapplicable to the execution, delivery and performance of the Merger Agreement and to the consummation of the Offer, the Merger and the other Transactions.

In addition to Section 203 of the DGCL, a number of other states have adopted laws which purport, to varying degrees, to apply to attempts to acquire corporations that are incorporated in, or which have substantial assets, stockholders, principal executive offices or principal places of business or whose business operations otherwise have substantial economic effects in, such states. Inozyme conducts business in a number of states throughout the United States, some of which may have enacted such laws. Except as described herein, we do not know whether any of these laws will, by their terms, apply to the Offer or the Merger, and we have not attempted to comply with any such laws.

To the extent that certain provisions of these laws purport to apply to the Offer or the Merger, we believe that there are reasonable bases for contesting the application of such laws.

In 1982, in *Edgar v. MITE Corp.*, the Supreme Court of the United States invalidated on constitutional grounds the Illinois Business Takeover Statute which, as a matter of state securities law, made takeovers of corporations meeting certain requirements more difficult. However, in 1987, in *CTS Corp. v. Dynamics Corp. of America*, the Supreme Court held that the State of Indiana could, as a matter of corporate law, constitutionally disqualify a potential acquirer from voting shares of a target corporation without the prior approval of the remaining stockholders where, among other things, the corporation is incorporated, and has a substantial number of stockholders, in the state. Subsequently, in *TLX Acquisition Corp. v. Telex Corp.*, a U.S. federal district court in Oklahoma ruled that the Oklahoma statutes were unconstitutional as applied to corporations incorporated outside Oklahoma in that they would subject such corporations to inconsistent regulations. Similarly, in *Tyson Foods, Inc. v. McReynolds*, a U.S. federal district court in Tennessee ruled that four Tennessee takeover statutes were unconstitutional as applied to corporations incorporated outside Tennessee. This decision was affirmed by the United States Court of Appeals for the Sixth Circuit. In December 1988, a U.S. federal district court in Florida held in *Grand Metropolitan PLC v. Butterworth* that the provisions of the Florida Affiliated Transactions Act and the Florida Control Share Acquisition Act were unconstitutional as applied to corporations incorporated outside of Florida.

If any government official or third party seeks to apply any state takeover law to the Offer or the Merger, we will take such action as then appears desirable, which action may include challenging the applicability or validity of such statute in appropriate court proceedings. If it is asserted that one or more state takeover statutes is applicable to the Offer or the Merger and an appropriate court does not determine that it is inapplicable or invalid as applied to the Offer or the Merger, we may be required to file certain information with, or to receive approvals from, the relevant state authorities or holders of Shares, and we may be unable to accept for payment or pay for Shares tendered pursuant to the Offer, or be delayed in continuing or consummating the Offer or the Merger. In such case, we may not be obligated to accept for payment or pay for any tendered Shares. See "—Section 15—Conditions to the Offer."

***Antitrust Approvals***

Under the HSR Act and the rules that have been promulgated thereunder, certain acquisition transactions may not be consummated unless Premerger Notification and Report Forms have been filed with the FTC and the Antitrust Division of the DOJ (the "**Antitrust Division**") and certain waiting period requirements have been satisfied. The purchase of Shares pursuant to the Offer and the Merger is subject to such requirements.

Pursuant to the Merger Agreement, each of Parent and Inozyme intends to file on or around June 2, 2025 a Premerger Notification and Report Form under the HSR Act with respect to the Offer and the Merger with the Antitrust Division and the FTC. The waiting period applicable to the purchase of Shares pursuant to the Offer will expire 15 days following the filing by the acquiring person of the Premerger Notification and Report Form

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at 11:59 p.m., Eastern Time, but this period may be (a) shortened if the reviewing agency grants "early termination" of the waiting period, (b) restarted if Parent voluntarily withdraws and refiles its Premerger Notification and Report Form in order to restart the 15-day waiting period, or (c) continued if the reviewing agency issues a formal request for additional information and documentary material. If such a request is made, the waiting period will be extended until 11:59 p.m., Eastern Time, ten days after substantial compliance with such request by the acquiring person, unless earlier terminated. The parties may also enter into a timing agreement with the DOJ or FTC to not consummate the Offer for a specified period of time. If any waiting period expires on a Saturday, Sunday or federal holiday, then the period is extended until the next day that is not a Saturday, Sunday or federal holiday at 11:59 p.m., Eastern Time.

After expiration of the applicable waiting period, Parent and Inozyme will be free to complete the Offer and the Merger unless otherwise agreed with the reviewing agency or doing so would be prohibited by court order. See "—Section 15—Conditions to the Offer" for certain conditions to the Offer, including conditions with respect to certain governmental actions and "—Section 13—The Transaction Documents—The Merger Agreement—Termination" for certain termination rights pursuant to the Merger Agreement with respect to certain governmental actions.

There can be no assurance that regulatory clearances and approvals will be timely obtained or obtained at all, or that a challenge on antitrust, competition or foreign investment control law grounds will not be made and, if so, what the result will be.

***Regulatory Undertakings***

See "—Section 13—The Transaction Documents-Regulatory Undertakings."

**17. Fees and Expenses** 

We have retained Innisfree M&A Incorporated to act as the Information Agent and Computershare Trust Company, N.A. to act as the Paying Agent in connection with the Offer. The Information Agent may contact holders of Shares by mail, telephone and personal interviews and may request brokers, dealers, commercial banks, trust companies and other nominees to forward materials relating to the Offer to beneficial owners. The Information Agent and the Paying Agent each will receive reasonable and customary compensation for their respective services, will be reimbursed for certain reasonable out-of-pocket expenses and will be indemnified against certain liabilities in connection therewith, including certain liabilities under the U.S. federal securities laws.

We will not pay any fees or commissions to any broker or dealer or any other person (other than the Information Agent and the Paying Agent) for soliciting tenders of Shares pursuant to the Offer. Brokers, dealers, commercial banks, trust companies and other nominees will, upon request, be reimbursed by Purchaser for reasonable and necessary costs and expenses incurred by them in forwarding materials to their customers.

**18. Miscellaneous** 

The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Shares in any U.S. or foreign jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the laws of such jurisdiction. In those jurisdictions where the applicable laws require that the Offer be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Purchaser by one or more registered brokers or dealers licensed under the laws of such jurisdiction to be designated by Purchaser. We are not aware of any jurisdiction where the making of the Offer is prohibited by any administrative or judicial action pursuant to any valid state statute. If we become aware of any valid state statute prohibiting the making of the Offer or the acceptance of the Shares, we will make a good faith effort to comply with that state statute. If, after a good faith effort, we cannot comply with the state statute, we will not make the Offer to, nor will we accept tenders from or on behalf of, the holders of Shares in that state.

------

**No person has been authorized to give any information or make any representation on behalf of Purchaser, Parent or any of their respective affiliates, not contained in this Offer to Purchase or in the related Letter of Transmittal.** 

We have filed with the SEC a Schedule TO, together with exhibits thereto, furnishing certain additional information with respect to the Offer, and may file amendments to our Schedule TO. In addition, Inozyme has filed the Schedule 14D-9, together with the exhibits thereto, setting forth the Inozyme Board Recommendation and furnishing certain additional related information. Our Schedule TO, the Schedule 14D-9 and any exhibits or amendments thereto may be examined and copies may be obtained from the SEC in the manner described in "—Section 8—Certain Information Concerning Inozyme" and "—Section 9—Certain Information Concerning Purchaser and Parent" above.

**Incline Merger Sub, Inc.** 

June 2, 2025

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**SCHEDULE I** 

**DIRECTORS AND EXECUTIVE OFFICERS OF PARENT** 

The name, country of citizenship, current principal occupation or employment and material occupations, positions, offices or employment for the past five years of each director and executive officer of BioMarin Pharmaceutical Inc. ("BioMarin" or "Parent") are set forth below. Unless otherwise indicated, each occupation set forth opposite an individual's name refers to a position with Parent. Unless otherwise indicated, the business address of each director and executive officer is 105 Digital Drive, Novato, California, 94949. Directors are identified by an asterisk.

---

| | | |
|:---|:---|:---|
| **Name** | **Current Principal Occupation or Employment and Five-Year Employment History** | **Country of<br>Citizenship** |
| Elizabeth McKee Anderson\* | Elizabeth McKee Anderson joined BioMarin's board of directors in July 2019 and serves as Chair of BioMarin's Compensation Committee. Ms. Anderson held various senior leadership positions at Johnson & Johnson from 2003 until her retirement in 2014. | USA |
| Barbara W. Bodem\* | Barbara Bodem has served on BioMarin's board of directors since December 2023. Ms. Bodem was interim Chief Financial Officer of Dentsply Sirona Inc., a public dental equipment and supplies manufacturing company, from April 2022 to October 2022. Prior to that, she served as Senior Vice President and Chief Financial Officer of Hill-Rom Holdings, Inc., a medical device and medical technology provider, from 2018 until its acquisition by Baxter International Inc. in 2021. | USA |
| Athena Countouriotis, M.D.\* | Athena Countouriotis, M.D. joined BioMarin's board of directors in December 2023. Dr. Countouriotis is co-founder, President, Chief Executive Officer and Chairperson of Avenzo Therapeutics, Inc., a private biotechnology company, since October 2022. Prior to that, she served as President and Chief Executive Officer of Turning Point Therapeutics, Inc., an oncology company, from May 2018 to August 2022, leading the company through its initial public offering and eventual acquisition by Bristol Myers Squibb. | USA |
| Willard Dere, M.D.\* | Willard Dere, M.D. joined BioMarin's board of directors in July 2016 and serves as Chair of the Science and Technology Committee. He is currently Professor Emeritus of Internal Medicine at the University of Utah and Chief Advisor to the Chief Executive Officer and Chief Medical Officer (part-time) at Angitia Biopharmaceuticals, a private biopharmaceutical company. Dr. Dere served as Professor of Internal Medicine and the B. Lue and Hope S. Bettilyon Presidential Endowed Chair in Internal Medicine for Diabetes Research, Co-Director of the Utah Clinical and Translational Science Institute, Co-Director of the Center for Genomic Medicine, and the Associate Vice President for Research at the University of Utah Health Sciences Center from November 2014 to June 2022. | USA |
| Mark J. Enyedy\* | Mark J. Enyedy has served on BioMarin's board of directors since December 2023. Mr. Enyedy served as the President and Chief Executive Officer of ImmunoGen, Inc., a public biotechnology company, from May 2016 until February 2024, when ImmunoGen, Inc. was acquired by AbbVie Inc. | USA |
| Alexander Hardy\* | Alexander Hardy has served as BioMarin's President and Chief Executive Officer and a member of BioMarin's board of directors since December 2023. Mr. Hardy has more than 30 years in the global pharmaceutical industry. Prior to BioMarin, he spent nearly 20 years at Genentech, Inc. and Roche, most recently serving as Chief Executive Officer of Genentech, Inc. since May 2019. | USA |

---

------

---

| | | |
|:---|:---|:---|
| **Name** | **Current Principal Occupation or Employment and Five-Year Employment History** | **Country of<br>Citizenship** |
| Maykin Ho, Ph.D.\* | Maykin Ho, Ph.D. joined BioMarin's board of directors in February 2021. Dr. Ho has been a venture partner of Qiming Venture Partners, a venture capital firm in China and Hong Kong, since July 2015 and is a member of the Biotech Advisory Panel of the Stock Exchange of Hong Kong. | USA |
| Robert J. Hombach\* | Robert J. Hombach joined BioMarin's board of directors in September 2017 and currently serves as Chair of the Audit Committee. Mr. Hombach served as Executive Vice President, Chief Financial Officer and Chief Operations Officer of Baxalta Inc., a public biopharmaceutical company, until it was acquired by Shire plc, in June 2016. | USA |
| Richard A. Meier\* | Richard A. Meier has served as the Chair of BioMarin's board of directors since December 2023 and a director since December 2006. Before becoming the Chair of BioMarin's board of directors, he served as BioMarin's Lead Independent Director from June 2015 to November 2023. Mr. Meier currently serves as the Chief Executive Officer and a member of the board of directors of TwinMed, LLC, a private healthcare services company. He previously served as President and Chief Executive Officer and a member of the board of Rockley Photonics Holdings Ltd., a public medical technology company<sup>2</sup>, from December 2022 to May 2023 and as President and Chief Financial Officer from October 2022 to December 2022. Prior to Rockley, Mr. Meier was Executive Vice President and Chief Financial Officer of Intersect ENT, Inc., a public medical technology company, a position he held from November 2019 through June 2022 when it was acquired by Medtronic. | USA |
| Timothy P. Walbert\* | Timothy P. Walbert joined BioMarin's board of directors in February 2025. Mr. Walbert is currently senior advisor at Amgen, a biotechnology company. Most recently, Mr. Walbert served as the chairman, president and chief executive officer of Horizon Therapeutics, a biopharmaceutical company, from 2008 to October 2023, when it was acquired by Amgen for $28.3 billion. | USA |
| Erin Burkhart | Erin Burkhart joined BioMarin in May 2022 and currently serves as Group Vice President and Chief Accounting Officer. Ms. Burkhart previously worked at Eli Lilly & Company, a public pharmaceutical company, from August 2014 to April 2022, where she held various accounting and finance roles of increasing responsibility during her tenure, including Associate Vice President, US Gross-to-Net Business Analysis from April 2021 to April 2022 and Associate Vice President, Accounting Operations and Reporting from January 2018 to April 2021. | USA |
| G. Eric Davis | G. Eric Davis joined BioMarin in March 2004 and currently serves as Executive Vice President, Chief Legal Officer and Secretary. From March 2016 to March 2022, Mr. Davis served as BioMarin's Executive Vice President, General Counsel and Secretary. | USA |
| Gregory R. Friberg, M.D. | Gregory R. Friberg, M.D. joined BioMarin in September 2024 and currently serves as Executive Vice President and Chief Research & Development Officer. Dr. Friberg is responsible for BioMarin's discovery research, preclinical, translational and clinical programs, as well as global regulatory and medical affairs. Prior to joining BioMarin, Dr. Friberg spent 18 years at Amgen, a biotechnology company, where he served most recently as Vice President, Global | USA |

---

<sup>2</sup> In January 2023, Rockley filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. In March 2023, the Bankruptcy Court approved Rockley's Prepackaged Plan of Reorganization, and the company emerged from bankruptcy as a private company.

------

---

| | | |
|:---|:---|:---|
| **Name** | **Current Principal Occupation or Employment and Five-Year Employment History** | **Country of<br>Citizenship** |
|  | Medical Affairs, Rare Disease. During his time at Amgen, he was responsible for advancing multiple medicines from investigational new drug application filing through late-stage development, and also served as the head of global development for Amgen's hematology/oncology and bone portfolios. |  |
| C. Greg Guyer, Ph.D. | C. Greg Guyer, Ph.D. joined BioMarin in May 2020 and currently serves as Executive Vice President and Chief Technical Officer. Dr. Guyer is responsible for overseeing BioMarin's manufacturing, process development, quality, supply chain, engineering and analytical chemistry departments. | USA |
| Cristin Hubbard | Cristin Hubbard joined BioMarin in May 2024 and currently serves as Executive Vice President and Chief Commercial Officer. She is responsible for leading BioMarin's global commercial operations and portfolio strategy. Ms. Hubbard joined BioMarin following more than 20 years in the biopharmaceutical and diagnostics industries. She was most recently head of Global Product Strategy for Roche Pharmaceuticals, a pharmaceutical company, from May 2023 to March 2024, where she was responsible for lifecycle management, global commercial strategy and accelerating delivery of the company's medicines from development to commercialization, across five therapeutic areas. Prior to such role, she spent over 16 years at Roche and Genentech, a biotechnology company, serving in a number of leadership positions across both organizations. Ms. Hubbard started her career as a medicinal chemist at Theravance Biopharma, Inc. | USA |
| Brian R. Mueller | Brian R. Mueller joined BioMarin in December 2002, currently serves as Executive Vice President and Chief Financial Officer and from March 2011 to June 2020 he served as Chief Accounting Officer. | USA |

---

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**DIRECTORS AND EXECUTIVE OFFICERS OF PURCHASER** 

The name, country of citizenship, current principal occupation or employment and material occupations, positions, offices or employment for the past five years of each director and executive officer of Incline Merger Sub, Inc. ("Purchaser") are set forth below. Unless otherwise indicated, each occupation set forth opposite an individual's name refers to a position with Purchaser. Unless otherwise indicated, the business address of each director and executive officer of Purchaser is 105 Digital Drive, Novato, California, 94949. Directors are identified by an asterisk.

---

| | | |
|:---|:---|:---|
| **Name** | **Current Principal Occupation or Employment and Five-Year Employment History** | **Country of<br>Citizenship** |
| G. Eric Davis\* | G. Eric Davis joined BioMarin in March 2004 and currently serves as Executive Vice President, Chief Legal Officer and Secretary of BioMarin Pharmaceutical Inc. ("BioMarin") and President of Purchaser. From March 2016 to March 2022, Mr. Davis served as BioMarin's Executive Vice President, General Counsel and Secretary. | USA |
| Eric Fleekop\* | Eric Fleekop joined BioMarin in 2015 and currently serves as Vice President, Deputy General Counsel of BioMarin and Secretary of Purchaser. From October 2022 to March 2023, Mr. Fleekop served as BioMarin's Executive Director, Corporate Counsel – Corporate and Securities, from February 2021 to October 2022, Mr. Fleekop served as BioMarin's Senior Director, Corporate Counsel – Corporate and Securities and from August 2018 to February 2021, Mr. Fleekop served as BioMarin's Director, Corporate Counsel – Corporate and Securities. | USA |
| Brian Mueller\* | Brian R. Mueller joined BioMarin in December 2002 and currently serves as Executive Vice President and Chief Financial Officer of BioMarin. From March 2011 to June 2020 he served as Chief Accounting Officer of BioMarin. | USA |

---

------

Manually signed facsimile copies of the Letter of Transmittal will be accepted. The Letter of Transmittal and certificates for Shares and any other required documents should be sent to the Paying Agent at one of the addresses set forth below:

*The Paying Agent for the Offer is:* 

**Computershare Trust Company, N.A.** 

---

| | |
|:---|:---|
| <u>If delivering by trackable mail, including overnight</u> <u>delivery, or other expedited service:</u><br>Computershare Trust Company, N.A.<br> c/o Voluntary Corporate Actions; COY: INZY<br> 150 Royall Street, Suite V<br> Canton, Massachusetts 02021 | <u>If delivering by mail:</u><br>Computershare Trust Company, N.A.<br> c/o Voluntary Corporate Actions; COY: INZY<br> P.O. Box 43011<br> Providence, Rhode Island 02940-3011 |

---

If you have questions or need additional copies of this Offer to Purchase and the Letter of Transmittal, you can call the Information Agent at its address and telephone number set forth below. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer.

*The Information Agent for the Tender Offer is:* 

**Innisfree M&A Incorporated** 

501 Madison Avenue, 20th Floor

New York, New York 10022

Shareholders may call +1 (877) 687-1871 (toll-free from the United States and Canada)

or +1 (412) 232-3651 (from other countries)

Banks and brokers may call collect: +1 (212) 750-5833

## Ex-99.(A)(1)(Ii)

**Exhibit (a)(1)(ii)** 

**LETTER OF TRANSMITTAL** 

**to Tender Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net per Share** 

**Pursuant to the Offer to Purchase** 

**Dated June 2, 2025** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly owned subsidiary of** 

**BIOMARIN PHARMACEUTICAL INC.** 

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M.,** 

**EASTERN TIME, ON JUNE 30, 2025, UNLESS THE** 

**OFFER IS EXTENDED OR EARLIER TERMINATED.** 

*The Paying Agent for the Offer is:* 

**Computershare Trust Company, N.A.** 

---

| | |
|:---|:---|
| <u>If delivering by trackable mail, including,</u><br> <u>overnight delivery or any other expedited service:</u><br>Computershare Trust Company, N.A.<br> c/o Voluntary Corporate Actions; COY: INZY<br> 150 Royall Street, Suite V<br> Canton, Massachusetts 02021 | <u>If delivering by mail:</u><br>Computershare Trust Company, N.A.<br> c/o Voluntary Corporate Actions; COY: INZY<br> P.O. Box 43011<br> Providence, Rhode Island 02940-3011 |

---

**DELIVERY OF THIS LETTER OF TRANSMITTAL TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| ACCOUNT NUMBER | CERT SHARES | BOOK SHARES | TOTAL SHARES | ISSUE NUMBER |

---

**FOR OFFICE USE ONLY Approved<u> </u> W-9 Completed** 

VOLUNTARY CORPORATE ACTIONS, COY: INZY

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**DESCRIPTION OF SHARES TENDERED** | &nbsp;&nbsp;&nbsp;**DESCRIPTION OF SHARES TENDERED** | &nbsp;&nbsp;&nbsp;**DESCRIPTION OF SHARES TENDERED** | &nbsp;&nbsp;&nbsp;**DESCRIPTION OF SHARES TENDERED** |
| &nbsp;&nbsp;&nbsp; **Account Registration**<br> **(Please fill in, if blank)**<br> **Please make any address**<br> **correction below** | **Share Certificate(s) and Share(s) Tendered**<br> **(Please attach additional signed list, if necessary)** | **Share Certificate(s) and Share(s) Tendered**<br> **(Please attach additional signed list, if necessary)** | **Share Certificate(s) and Share(s) Tendered**<br> **(Please attach additional signed list, if necessary)** |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change | Certificate<br> Number(s)<br> and/or indicate<br> Book-Entry | Total Number of<br> Shares Represented<br> by Certificate(s) | Number<br> of Shares<br> Tendered(12) |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change |  |  |  |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change |  |  |  |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change |  |  |  |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change |  |  |  |
| &nbsp;&nbsp;&nbsp; ☐ indicates permanent address change | Total Shares Tendered | Total Shares Tendered | Total Shares Tendered |

---

(1) If shares are held in Book-Entry form, you **must** indicate the number of shares you are tendering.
Otherwise, all Shares represented by Book-Entry delivered to the Paying Agent will be deemed to have been tendered. **By signing and submitting this Letter of Transmittal you warrant that these shares will not be sold, including through limit order request, unless validly withdrawn from the Offer.** See Instruction 4.

(2) If you wish to tender fewer than all shares represented by any certificate listed above, please indicate in
this column the number of shares you wish to tender. Otherwise, all Shares represented by Share Certificates delivered to the Paying Agent will be deemed to have been tendered. See Instruction 4.

**THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS COMPLETED. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES OF THE OFFER TO PURCHASE AND THIS LETTER OF TRANSMITTAL MAY BE MADE TO OR OBTAINED FROM THE INFORMATION AGENT AT ITS ADDRESS OR TELEPHONE NUMBER SET FORTH BELOW.** 

**If the certificate(s) representing Shares (as defined below) to be tendered have been mutilated, lost, stolen or destroyed, stockholders should contact Inozyme Pharma, Inc.'s transfer agent, Computershare Trust Company, N.A., immediately by calling (781) 575-3100 or (800) 736-3001. This Letter of Transmittal and related documents cannot be processed until the procedures for replacing such certificate(s) have been followed. You may be required to post a bond to secure against the risk that the Share certificate(s) may be subsequently recirculated. See Instruction 9.** 

**You must sign this Letter of Transmittal in the appropriate space provided below, with signature guarantee if required, and complete the enclosed IRS Form W-9 or provide the appropriate IRS Form W-8.** 

**The Offer (as defined below) is not being made to, nor will tenders be accepted from or on behalf of, holders of Shares in any jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the laws of such jurisdiction.** 

This Letter of Transmittal is to be used by stockholders of Inozyme Pharma, Inc. (a) if certificates are to be forwarded herewith or (b) if Shares are held in book-entry form on the records of the Paying Agent.

Holders of outstanding Shares, whose certificates for such Shares are not immediately available or who cannot deliver such certificates and all other required documents to the Paying Agent at or prior to the Expiration Date (as defined below) or who cannot complete the procedure for book-entry transfer at or prior to the Expiration Date, may only tender their Shares according to the guaranteed delivery procedure set forth in Section 3 of the Offer to Purchase. See Instruction 2. **Delivery of documents to The Depository Trust Company (the "<u>Book-Entry Transfer Facility</u>" or "<u>DTC</u>") does not constitute delivery to the Paying Agent**.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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Ladies and Gentlemen:

The undersigned hereby tenders to Incline Merger Sub, Inc., a Delaware corporation ("<u>Purchaser</u>") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("<u>Parent</u>"), the above-described shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation ("<u>Inozyme</u>"), pursuant to Purchaser's offer to acquire all of the outstanding Shares for $4.00 per Share, in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 2, 2025 (together with any amendments or supplements thereto, the "<u>Offer to Purchase</u>"), receipt of which is hereby acknowledged, and in this Letter of Transmittal (which, together with any amendments or supplements thereto, collectively constitute the "<u>Offer</u>"). The Offer expires one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless extended or earlier terminated as permitted by the Merger Agreement (as defined below) (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the "<u>Expiration Date</u>"). To the extent permitted under the Merger Agreement, Purchaser reserves the right to transfer or assign, in whole or from time to time in part, to one or more of its affiliates the right to purchase Shares tendered pursuant to the Offer (*provided* that such assignment will not impede or delay the consummation of the Transactions (as defined in the Offer to Purchase) or otherwise impede the rights of the stockholders of Inozyme under the Merger Agreement), but any such transfer or assignment will not relieve Parent of its obligations under the Merger Agreement or prejudice the undersigned's rights to receive payment for Shares validly tendered (and not validly withdrawn) and accepted for payment.

Upon the terms and subject to the conditions of the Offer (including, if the Offer is extended or amended, the terms and conditions of such extension or amendment), and effective upon acceptance for payment for the Shares validly tendered herewith in accordance with the terms of the Offer, the undersigned hereby sells, assigns and transfers to, or upon the order of, Purchaser all right, title and interest in and to all of the Shares that are being tendered hereby. In addition, the undersigned hereby irrevocably appoints Parent and the true and lawful agent and attorney-in-fact and proxy of the undersigned with respect to such Shares, with full power of substitution (such proxy and power of attorney being deemed to be an irrevocable power coupled with an interest in the Shares tendered by this Letter of Transmittal), to (a) deliver certificates for such Shares, or transfer ownership of such Shares on the account books maintained by the Book-Entry Transfer Facility, together, in any such case, with all accompanying evidences of transfer and authenticity, to or upon the order of Purchaser, (b) present such Shares for transfer on the books of Inozyme and (c) receive all benefits and otherwise exercise all rights of beneficial ownership of such Shares, all in accordance with the terms of the Offer.

The undersigned hereby irrevocably appoints Parent as the attorney-in-fact and proxy of the undersigned, with full power of substitution, to exercise all voting and other rights of the undersigned in such manner as such attorney-in-fact and proxy or his or her substitute shall in his or her sole discretion deem proper, with respect to all of the Shares validly tendered hereby which have been accepted for payment by Purchaser prior to the time of any vote or other action, at any meeting of stockholders of Inozyme (whether annual or special and whether or not an adjourned meeting), by written consent or otherwise. This proxy and power of attorney is irrevocable and is granted in consideration of, and is effective upon, the acceptance for payment of such Shares by Purchaser in accordance with the terms of the Offer. Such acceptance for payment shall revoke any other proxies, powers of attorney, or written consent granted by the undersigned at any time with respect to such Shares, and no subsequent proxies or powers of attorney will be given, or written consents will be executed by the undersigned (and if given or executed, will not be deemed to be effective). Purchaser reserves the right to require that, in order for Shares to be deemed validly tendered, immediately upon Purchaser's acceptance for payment of such Shares, Purchaser or its designees must be able to exercise full voting, consent and other rights with respect to such Shares, including voting at any meeting of Inozyme's stockholders.

The undersigned hereby represents and warrants that the undersigned has full power and authority to tender, sell, assign and transfer the Shares tendered herein and that when the same are accepted for payment by Purchaser, Purchaser will acquire good, marketable and unencumbered title thereto, free and clear of all liens, restrictions,

VOLUNTARY CORPORATE ACTIONS, COY: INZY

------

charges and encumbrances and that the same will not be subject to any adverse claims. The undersigned hereby represents and warrants that the undersigned is the registered owner of the Shares, or the Share certificate(s) have been endorsed to the undersigned in blank, or the undersigned is a participant in the Book-Entry Transfer Facility whose name appears on a security position listing as the owner of the Shares. The undersigned will, upon request, execute and deliver any additional documents deemed by Computershare Trust Company, N.A. as the paying agent for the Offer (the "<u>Paying Agent</u>") or Purchaser to be reasonably necessary to complete the sale, assignment and transfer of the Shares tendered hereby.

All authority herein conferred or agreed to be conferred shall not be affected by, and shall survive, the death or incapacity of the undersigned, and any obligation of the undersigned hereunder shall be binding upon the heirs, executors, administrators, personal representatives, trustees in bankruptcy, successors and assigns of the undersigned. Except as stated in the Offer, this tender is irrevocable.

The undersigned hereby acknowledges that delivery of any Share certificate(s) shall be effected, and risk of loss and title to such Share certificate(s) shall pass, only upon the proper delivery of such Share certificate(s) or transfer of the uncertificated Shares represented by book entry to the Paying Agent.

The undersigned understands that tenders of Shares pursuant to any one of the procedures described in Section 3 of the Offer to Purchase and in the Instructions hereto will constitute an agreement between the undersigned and Purchaser upon the terms and subject to the conditions of the Offer. Without limiting the foregoing, if the price to be paid in the Offer is amended in accordance with the terms of the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time, the "<u>Merger Agreement</u>"), by and among Inozyme, Parent and Purchaser, pursuant to which the Offer is being made, the price to be paid to the undersigned will be the amended price notwithstanding the fact that a different price is stated in this Letter of Transmittal.

Unless otherwise indicated under "Special Payment Instructions," please issue the check for the purchase price of any Shares purchased, and, if appropriate, return any certificates evidencing Shares not tendered or not accepted for payment in the name(s) of the undersigned. Similarly, unless otherwise indicated under "Special Delivery Instructions," please mail the check for the purchase price of any Shares purchased and any certificates evidencing Shares not tendered or not accepted for payment (and accompanying documents, as appropriate) to the undersigned at the address shown below the undersigned's signature(s). In the event that both "Special Payment Instructions" and "Special Delivery Instructions" are completed, please issue the check for the purchase price of any Shares purchased and return any Shares not tendered or not accepted for payment in the name(s) of, and mail said check and any certificates to, the person(s) so indicated. The undersigned recognizes that Purchaser has no obligation, pursuant to the "Special Payment Instructions," to transfer any Shares from the name of the registered holder(s) thereof if Purchaser does not accept for payment any of the Shares so tendered.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

------

**SPECIAL PAYMENT INSTRUCTIONS** 

**(See Instructions 1, 6, 7 and 8)** 

To be completed ONLY if the check for the purchase price of Shares purchased (less the amount of any federal income and backup withholding tax required to be withheld) is to be issued in the name of someone other than the undersigned.

Issue to:

---

| | |
|:---|:---|
|  Name | |
|  | **(Please Print)** |
|  Address | |
|  | **(Include Zip Code)** |

---

**SPECIAL DELIVERY INSTRUCTIONS** 

To be completed ONLY if the check for the purchase price of Shares purchased (less the amount of any federal income and backup withholding tax required to be withheld) is to be mailed to someone other than the undersigned or to the undersigned at an address other than that shown below the undersigned's signature(s).

Mail to:

---

| | |
|:---|:---|
|  Name | |
|  | **(Please Print)** |
|  Address | |
|  | **(Include Zip Code)** |

---

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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**IMPORTANT** 

**STOCKHOLDER: SIGN HERE** 

**(U.S. Holders: Please complete and return the IRS Form W-9 included herein)** 

**(Non-U.S. Holders: Please obtain, complete and return appropriate IRS Form W-8)** 

(Must be signed by registered holder(s) exactly as name(s) appear(s) on stock certificate(s) or on a security position listing or by person(s) authorized to become registered holder(s) by certificates and documents transmitted herewith. If signature is by a trustee, executor, administrator, guardian, attorney-in-fact, agent, officer of a corporation or other person acting in a fiduciary or representative capacity, please set forth full title and see Instruction 5.)

**Signature(s) of Stockholder(s)**

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| | |
|:---|:---|
|  Dated , 2025 | Dated , 2025 |
|  Name(s) |  |
|  | **(Please Print)** |
|  Capacity (full title) (See Instruction 5): |  |
|  Address |  |
|  | **(Include Zip Code)** |
|  | **Guarantee of Signature(s)**<br> **(If required; see Instructions 1 and 5)**<br> **(For use by Eligible Institutions only. Place**<br> **medallion guarantee in space below)** |
|  Name of Firm |  |
|  Address |  |
|  | **(Include Zip Code)** |
|  Authorized Signature |  |
|  Name(s) |  |
|  | **(Please Print)** |
|  Area Code and Telephone Number |  |
|  Dated , 2025 | Dated , 2025 |

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**INSTRUCTIONS** 

**Forming Part of the Terms and Conditions of the Offer** 

1. *Guarantee of Signatures*. Except as otherwise provided below, all signatures on this Letter of Transmittal must be guaranteed by a financial institution (including most banks, savings and loan associations and brokerage houses) that is a member of a recognized Medallion Program approved by The Securities Transfer Association, Inc., including the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP) and the New York Stock Exchange, Inc. Medallion Signature Program (MSP) or any other "eligible guarantor institution" (as such term is defined in Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended) (each, an "<u>Eligible Institution</u>"). Signatures on this Letter of Transmittal need not be guaranteed (a) if this Letter of Transmittal is signed by the registered holder(s) of the Shares (which term, for purposes of this document, shall include any participant in the Book-Entry Transfer Facility whose name appears on a security position listing as the owner of Shares, trustees, executors, administrators, guardians, attorney-in-fact, officers of a corporation or other persons acting in a fiduciary or representative capacity, see Instruction 5), tendered herewith and such holder(s) have not completed the box entitled "Special Payment Instructions" or "Special Delivery Instructions" on this Letter of Transmittal or (b) if such Shares are tendered for the account of an Eligible Institution. See Instruction 5.

2. *Delivery of Letter of Transmittal and Shares*. This Letter of Transmittal is to be used either if certificates are to be forwarded herewith or Shares are held in book-entry form on the records of the Paying Agent. Certificates for all physically delivered Shares, as well as a properly completed and duly executed Letter of Transmittal, together with any required signature guarantees and any other documents required by this Letter of Transmittal, must be received by the Paying Agent at one of its addresses set forth on the front page of this Letter of Transmittal by the Expiration Date.

Stockholders whose certificates for Shares are not immediately available or stockholders who cannot deliver their certificates and all other required documents to the Paying Agent by the Expiration Date or who cannot comply with the procedures for book-entry transfer by the Expiration Date may tender their Shares by completing a Notice of Guaranteed Delivery pursuant to the guaranteed delivery procedure set forth in Section 3 of the Offer to Purchase. Under the guaranteed delivery procedure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a tender is made by or through an Eligible Institution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a properly completed and duly executed Notice of Guaranteed Delivery substantially in the form provided by
Purchaser with the Offer to Purchase must be received by the Paying Agent by the Expiration Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the certificates for all tendered Shares (or a confirmation of a book-entry transfer of such Shares into the
Paying Agent's account at the Book-Entry Transfer Facility), as well as a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) with any required signature guarantee (or an Agent's Message) and
any other documents required by this Letter of Transmittal, must be received by the Paying Agent within one Nasdaq Stock Market trading day after the date of execution of such Notice of Guaranteed Delivery, all as provided in Section 3 of the
Offer to Purchase.

**The method of delivery of Shares, this Letter of Transmittal and all other required documents is at the election and sole risk of** the **tendering stockholder. Shares will be deemed delivered only when actually received by the Paying Agent. If certificates for Shares are sent by mail, we recommend registered mail with return receipt requested, properly insured, in time to be received on or prior to the Expiration Date. In all cases, sufficient time should be allowed to ensure timely delivery.**

No alternative, conditional or contingent tenders will be accepted and no fractional shares will be purchased. By executing this Letter of Transmittal (or a manually signed facsimile thereof), the tendering stockholder waives any right to receive any notice of the acceptance for payment of the Shares.

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3. *Inadequate Space*. If the space provided herein is inadequate, the certificate numbers and/or the number of Shares should be listed on a separate signed schedule attached hereto.

4. *Partial Tenders*. If fewer than all of the Shares represented by any certificate delivered to the Paying Agent are to be tendered, fill in the number of Shares which are to be tendered in the box entitled "Number of Shares Tendered." In such case, a new certificate for the remainder of the Shares represented by the old certificate will be issued and sent to the person(s) signing this Letter of Transmittal, unless otherwise provided in the appropriate box on this Letter of Transmittal, as promptly as practicable following the expiration or termination of the Offer. All Shares represented by certificates delivered to the Paying Agent will be deemed to have been tendered unless otherwise indicated. In the case of Shares tendered by book-entry transfer at DTC (or Shares held in a direct registration account maintained by Inozyme's transfer agent), any tendered but unpurchased Shares (including as a result of any necessary proration) will be credited to the appropriate account maintained by the tendering stockholder at DTC (or by Inozyme's transfer agent). In each case, Shares will be returned or credited without expense to the stockholder.

5. *Signatures on Letter of Transmittal; Stock Powers and Endorsements*. If this Letter of Transmittal is signed by the registered holder(s) of the Shares tendered hereby, the signature(s) must correspond with the name(s) as written on the face of the certificates without alteration or any change whatsoever.

If any of the Shares tendered hereby are held of record by two or more persons, all such persons must sign this Letter of Transmittal.

If any of the Shares tendered hereby are registered in different names on different certificates, it will be necessary to complete, sign and submit as many separate Letters of Transmittal as there are different registrations of certificates.

If this Letter of Transmittal is signed by the registered holder(s) of the Shares tendered hereby, no endorsements of certificates or separate stock powers are required unless payment of the purchase price is to be made, or Shares not tendered or not accepted for payment are to be returned, in the name of any person other than the registered holder(s). Signatures on any such certificates or stock powers must be guaranteed by an Eligible Institution.

If this Letter of Transmittal is signed by a person other than the registered holder(s) of the Shares tendered hereby, certificates must be endorsed or accompanied by appropriate stock powers, in either case, signed exactly as the name(s) of the registered holder(s) appear(s) on the certificates for such Shares. Signature(s) on any such certificates or stock powers must be guaranteed by an Eligible Institution.

If this Letter of Transmittal or any certificate or stock power is signed by a trustee, executor, administrator, guardian, attorney-in-fact, officer of a corporation or other person acting in a fiduciary or representative capacity, such person should so indicate when signing, and proper evidence satisfactory to Purchaser of the authority of such person so to act must be submitted, or in lieu of evidence, a Guarantee of Signature (see Instruction 1).

6. *Stock Transfer Taxes*. Purchaser will pay any stock transfer taxes with respect to the sale and transfer of any Shares to it or its order pursuant to the Offer. If, however, payment of the purchase price is to be made to, or Shares not tendered or not accepted for payment are to be returned in the name of, any person other than the registered holder(s), or if a transfer tax is imposed for any reason other than the sale or transfer of Shares to Purchaser pursuant to the Offer, then the amount of any stock transfer taxes (whether imposed on the registered holder(s), such other person or otherwise) will be deducted from the purchase price unless satisfactory evidence of the payment of such taxes, or exemption therefrom, is submitted herewith.

7. *Special Payment and Delivery Instructions*. If the check for the purchase price of any Shares purchased is to be issued in the name of a person other than the person(s) signing this Letter of Transmittal or if the check is to be mailed to someone other than the person(s) signing this Letter of Transmittal or to the person(s) signing this Letter of Transmittal at an address other than that shown above, the appropriate boxes on this Letter of Transmittal should be completed.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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8. *Backup Withholding*. Under U.S. federal income tax laws, unless certain certification requirements are met, the Paying Agent generally will be required to withhold at the applicable backup withholding rate (currently 24%) from any payments made to a stockholder pursuant to the Offer. In order to avoid such backup withholding, each tendering stockholder, and, if applicable, each other payee, in each case that is a U.S. person (as defined in the instructions to IRS Form W-9) must provide the Paying Agent with such stockholder's or payee's correct taxpayer identification number and certify that such stockholder or payee is not subject to such backup withholding by completing the IRS Form W-9 enclosed herein. In general, if a stockholder or payee is an individual, the taxpayer identification number is the social security number of such individual. If the stockholder or payee does not provide the Paying Agent with its correct taxpayer identification number, the stockholder or payee may be subject to a penalty imposed by the Internal Revenue Service. Certain stockholders or payees (including, generally, certain domestic corporations and foreign stockholders) are not subject to these backup withholding and reporting requirements. In order to satisfy the Paying Agent that a stockholder who is not a U.S. person (as defined in the instructions to IRS Form W-9) is exempt, such stockholder or payee must submit to the Paying Agent a properly completed IRS Form W-8, signed under penalties of perjury, attesting to that stockholder's foreign status. Such IRS Form W-8 can be obtained from the Paying Agent or the Internal Revenue Service (www.irs.gov/formspubs/index.html). The instructions to the enclosed IRS Form W-9 contain further information concerning backup withholding and instructions for completing the IRS Form W-9 (including how to obtain a taxpayer identification number if you do not have one and how to complete the IRS Form W-9 if Shares are held in more than one name).

Failure to provide an IRS Form W-9 or the appropriate IRS Form W-8 will not, by itself, cause Shares to be deemed invalidly tendered, but may require the Paying Agent to withhold from any payments made pursuant to the Offer.

Backup withholding is not an additional U.S. federal income tax. Rather, the U.S. federal income tax liability of a person subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund may be obtained provided that the required information is timely furnished to the Internal Revenue Service. **Failure to complete and provide an IRS Form W-9 or the appropriate IRS Form W-8 may result in U.S. federal backup withholding on any payments made to you pursuant to the Offer.**

9. *Mutilated, Lost, Stolen or Destroyed Certificates*. If any certificate(s) representing Shares to be tendered have been mutilated, lost, stolen or destroyed, stockholders should contact Inozyme's transfer agent, Computershare Trust Company, N.A., immediately by calling (781) 575-3100 or (800) 736-3001. With respect to Shares represented by certificates, the stockholder will then be instructed as to the steps that must be taken in order to replace the certificate(s). This Letter of Transmittal and related documents cannot be processed until the procedures for replacing lost, mutilated, destroyed or stolen certificate(s) have been followed.

10. *Requests for Assistance or Additional Copies*. Requests for assistance or additional copies of the Offer to Purchase and this Letter of Transmittal may be obtained from the Information Agent at its address or telephone numbers set forth below.

11. *Waiver of Conditions*. Purchaser reserves the right to waive any of the specified conditions of the Offer in the case of any Shares tendered, subject in certain cases to the prior written consent of Inozyme, or make any other changes in the terms and conditions of the Offer not inconsistent with the terms of the Merger Agreement.

12. *Irregularities*. All questions as to the form of documents and the validity, eligibility (including time of receipt) and acceptance for payment of any tender of Shares will be determined by Purchaser in its sole discretion, which determination shall be final and binding on you. Purchaser reserves the absolute right to reject any or all tenders of Shares it determines not to be in proper form or the acceptance of which or payments for which may, in the opinion of Purchaser, be unlawful. Purchaser also reserves the absolute right to waive any defect or irregularity in any tender of Shares by any particular stockholder, whether or not similar defects or irregularities are waived in the case of other stockholders. No tender of Shares will be deemed to have been

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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validly made until all defects and irregularities with respect to such tender have been cured or waived. None of Inozyme, Purchaser, Parent, the Paying Agent, the Information Agent (as defined in the Offer to Purchase) or any other person will be under any duty to give notification of any defects or irregularities in tenders or waiver of any such defect or irregularity or incur any liability for failure to give any such notification.

**IMPORTANT: This Letter of Transmittal (or a manually signed facsimile thereof) together with any signature guarantees and any other required documents, must be received by the Paying Agent on or prior to the Expiration Date and either certificates for tendered Shares must be received by the Paying Agent or Shares must be delivered pursuant to the procedures for book-entry transfer, in each case on or prior to the Expiration Date, or the tendering stockholder must comply with the procedures for guaranteed delivery.** 

***The Information Agent for the Offer is:***

Innisfree M&A Incorporated

501 Madison Avenue, 20th floor

New York, New York 10022

**Call Toll-Free from the United Stated and Canada: (877) 687-1871** 

**Call from other countries: +1 (412) 232-3651** 

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Form **W-9**<br> (Rev. March 2024)<br> Department of the Treasury<br> Internal Revenue Service | **Request for Taxpayer**<br>**Identification Number and Certification**<br>**Go to *www.irs.gov/FormW9* for instructions and the latest information.** | &nbsp;&nbsp;&nbsp; **Give form to the requester. Do not send to the IRS.** |
| **Before you begin.** For guidance related to the purpose of Form W-9, see *Purpose of Form*, below. | **Before you begin.** For guidance related to the purpose of Form W-9, see *Purpose of Form*, below. | **Before you begin.** For guidance related to the purpose of Form W-9, see *Purpose of Form*, below. |

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) | &nbsp;&nbsp; **1** Name of entity/individual. An entry is required. (For a sole proprietor or disregarded entity, enter the owner's name on line 1, and enter the business/disregarded entity's name on line 2.) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | **2** Business name/disregarded entity name, if different from above. | **2** Business name/disregarded entity name, if different from above. | **2** Business name/disregarded entity name, if different from above. | **2** Business name/disregarded entity name, if different from above. | **2** Business name/disregarded entity name, if different from above. | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **3a** Check the appropriate box for federal tax classification of the entity/individual whose name is entered on line 1. Check only **one** of the following seven boxes. | **4** Exemptions (codes apply only to certain entities, not individuals; see instructions on page 3): |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☐ Individual/sole proprietor | ☐ C corporation | ☐ | S corporation | ☐ | Partnership | ☐ | Trust/estate | <br>Exempt payee code (if any)<u> </u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> ☐ LLC. Enter the tax classification (C = C corporation, S = S corporation, P = Partnership) . . . .<u> </u> <br>**Note:** Check the "LLC" box above and, in the entry space, enter the appropriate code (C, S, or P) for the tax classification of the LLC, unless it is a disregarded entity. A disregarded entity should instead check the appropriate box for the tax classification of its owner.<br>☐ Other (see instructions)  | <br> Exemption from Foreign Account Tax Compliance Act (FATCA) reporting code (if any)<u> </u><br>*(Applies to accounts maintained outside the United States.)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ | **3b** If on line 3a you checked "Partnership" or "Trust/estate," or checked "LLC" and entered "P" as its tax classification, and you are providing this form to a partnership, trust, or estate in which you have an ownership interest, check this box if you have any foreign partners, owners, or beneficiaries. See instructions . . . . . . . . . ☐ |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Print or type**.<br> See***Specific Instructions*** on<br>page 3. | <br> **5** Address (number, street, and apt. or suite no.). See instructions. | <br> **5** Address (number, street, and apt. or suite no.). See instructions. | <br> **5** Address (number, street, and apt. or suite no.). See instructions. | <br> **5** Address (number, street, and apt. or suite no.). See instructions. | <br> **5** Address (number, street, and apt. or suite no.). See instructions. |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) |
|  | <br> **6** City, state, and ZIP code | <br> **6** City, state, and ZIP code | <br> **6** City, state, and ZIP code | <br> **6** City, state, and ZIP code | <br> **6** City, state, and ZIP code |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requester's name and address (optional) |
|  | <br> **7** List account number(s) here (optional) | <br> **7** List account number(s) here (optional) | <br> **7** List account number(s) here (optional) | <br> **7** List account number(s) here (optional) | <br> **7** List account number(s) here (optional) |  |  |  |  |

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| **Part I** | **Taxpayer Identification Number (TIN)** |

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| | |
|:---|:---|
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | &nbsp;&nbsp;&nbsp;&nbsp; **Social security number** |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | **or** |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | &nbsp;&nbsp;&nbsp;&nbsp; **Employer identification number** |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | |
| <br> Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see *How to get a TIN*, later.<br>**Note:** If the account is in more than one name, see the instructions for line 1. See also *What Name and Number To Give the Requester* for guidelines on whose number to enter. | |

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|:---|:---|
| **Part II** | **Certification** |

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<br> Under penalties of perjury, I certify that:<br>1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and<br>2. I am not subject to backup withholding because (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and<br>3. I am a U.S. citizen or other U.S. person (defined below); and<br>4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct.<br>**Certification instructions.** You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and, generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the instructions for Part II, later.<br>

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| | | |
|:---|:---|:---|
| **Sign<br>Here** | **Signature of<br>U.S. person** | **Date** |

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**General Instructions** 

Section references are to the Internal Revenue Code unless otherwise noted.

**Future developments**. For the latest information about developments related to Form W-9 and its instructions, such as legislation enacted after they were published, go to *www.irs.gov/FormW9*.

**What's New** 

Line 3a has been modified to clarify how a disregarded entity completes this line. An LLC that is a disregarded entity should check the appropriate box for the tax classification of its owner. Otherwise, it should check the "LLC" box and enter its appropriate tax classification.

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|:---|:---|
| Cat. No. 10231X | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form **W-9** (Rev. 3-2024) |

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VOLUNTARY CORPORATE ACTIONS, COY: INZY

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| Form W-9 (Rev. 3-2024) | Page<sub>2</sub> |

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New line 3b has been added to this form. A flow-through entity is required to complete this line to indicate that it has direct or indirect foreign partners, owners, or beneficiaries when it provides the Form W-9 to another flow-through entity in which it has an ownership interest. This change is intended to provide a flow-through entity with information regarding the status of its indirect foreign partners, owners, or beneficiaries, so that it can satisfy any applicable reporting requirements. For example, a partnership that has any indirect foreign partners may be required to complete Schedules K-2 and K-3. See the Partnership Instructions for Schedules K-2 and K-3 (Form 1065).

**Purpose of Form** 

An individual or entity (Form W-9 requester) who is required to file an information return with the IRS is giving you this form because they must obtain your correct taxpayer identification number (TIN), which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. Examples of information returns include, but are not limited to, the following.

• Form 1099-INT (interest earned or paid).

• Form 1099-DIV (dividends, including those from stocks or mutual funds).

• Form 1099-MISC (various types of income, prizes, awards, or gross proceeds).

• Form 1099-NEC (nonemployee compensation).

• Form 1099-B (stock or mutual fund sales and certain other transactions by brokers).

• Form 1099-S (proceeds from real estate transactions).

• Form 1099-K (merchant card and third-party network transactions).

• Form 1098 (home mortgage interest), 1098-E (student loan interest), and 1098-T (tuition).

• Form 1099-C (canceled debt).

• Form 1099-A (acquisition or abandonment of secured property).

Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN.

**Caution:** If you don't return Form W-9 to the requester with a TIN, you might be subject to backup withholding. See *What is backup withholding*, later.

**By signing the filled-out form**, you:

&nbsp;&nbsp;&nbsp;&nbsp;1. Certify that the TIN you are giving is correct (or you are waiting for a number to be issued);

&nbsp;&nbsp;&nbsp;&nbsp;2. Certify that you are not subject to backup withholding; or

&nbsp;&nbsp;&nbsp;&nbsp;3. Claim exemption from backup withholding if you are a U.S. exempt payee; and

&nbsp;&nbsp;&nbsp;&nbsp;4. Certify to your non-foreign status for purposes of withholding under chapter 3 or 4 of the Code (if applicable); and

&nbsp;&nbsp;&nbsp;&nbsp;5. Certify that FATCA code(s) entered on this form (if any) indicating that you are exempt from the FATCA reporting is correct. See *What Is FATCA Reporting*, later, for further information.

**Note:** If you are a U.S. person and a requester gives you a form other than Form W-9 to request your TIN, you must use the requester's form if it is substantially similar to this Form W-9.

**Definition of a U.S. person.** For federal tax purposes, you are considered a U.S. person if you are:

• An individual who is a U.S. citizen or U.S. resident alien;

• A partnership, corporation, company, or association created or organized in the United States or under the laws of the United States;

• An estate (other than a foreign estate); or

• A domestic trust (as defined in Regulations section 301.7701-7).

**Establishing U.S. status for purposes of chapter 3 and chapter 4 withholding.** Payments made to foreign persons, including certain distributions, allocations of income, or transfers of sales proceeds, may be subject to withholding under chapter 3 or chapter 4 of the Code (sections 1441-1474). Under those rules, if a Form W-9 or other certification of non-foreign status has not been received, a withholding agent, transferee, or partnership (payor) generally applies presumption rules that may require the payor to withhold applicable tax from the recipient, owner, transferor, or partner (payee). See Pub. 515, Withholding of Tax on Nonresident Aliens and Foreign Entities.

The following persons must provide Form W-9 to the payor for purposes of establishing its non-foreign status.

• In the case of a disregarded entity with a U.S. owner, the U.S. owner of the disregarded entity and not the disregarded entity.

• In the case of a grantor trust with a U.S. grantor or other U.S. owner, generally, the U.S. grantor or other U.S. owner of the grantor trust and not the grantor trust.

• In the case of a U.S. trust (other than a grantor trust), the U.S. trust and not the beneficiaries of the trust.

See Pub. 515 for more information on providing a Form W-9 or a certification of non-foreign status to avoid withholding.

**Foreign person.** If you are a foreign person or the U.S. branch of a foreign bank that has elected to be treated as a U.S. person (under Regulations section 1.1441-1(b)(2)(iv) or other applicable section for chapter 3 or 4 purposes), do not use Form W-9. Instead, use the appropriate Form W-8 or Form 8233 (see Pub. 515). If you are a qualified foreign pension fund under Regulations section 1.897(l)-1(d), or a partnership that is wholly owned by

qualified foreign pension funds, that is treated as a non-foreign person for purposes of section 1445 withholding, do not use Form W-9. Instead, use Form W-8EXP (or other certification of non-foreign status).

**Nonresident alien who becomes a resident alien.** Generally, only a nonresident alien individual may use the terms of a tax treaty to reduce or eliminate U.S. tax on certain types of income. However, most tax treaties contain a provision known as a saving clause. Exceptions specified in the saving clause may permit an exemption from tax to continue for certain types of income even after the payee has otherwise become a U.S. resident alien for tax purposes.

If you are a U.S. resident alien who is relying on an exception contained in the saving clause of a tax treaty to claim an exemption from U.S. tax on certain types of income, you must attach a statement to Form W-9 that specifies the following five items.

&nbsp;&nbsp;&nbsp;&nbsp;1. The treaty country. Generally, this must be the same treaty under which you claimed exemption from tax as a nonresident alien.

&nbsp;&nbsp;&nbsp;&nbsp;2. The treaty article addressing the income.

&nbsp;&nbsp;&nbsp;&nbsp;3. The article number (or location) in the tax treaty that contains the saving clause and its exceptions.

&nbsp;&nbsp;&nbsp;&nbsp;4. The type and amount of income that qualifies for the exemption from tax.

&nbsp;&nbsp;&nbsp;&nbsp;5. Sufficient facts to justify the exemption from tax under the terms of the treaty article.

***Example.*** Article 20 of the U.S.-China income tax treaty allows an exemption from tax for scholarship income received by a Chinese student temporarily present in the United States. Under U.S. law, this student will become a resident alien for tax purposes if their stay in the United States exceeds 5 calendar years. However, paragraph 2 of the first Protocol to the U.S.-China treaty (dated April 30, 1984) allows the provisions of Article 20 to continue to apply even after the Chinese student becomes a resident alien of the United States. A Chinese student who qualifies for this exception (under paragraph 2 of the first Protocol) and is relying on this exception to claim an exemption from tax on their scholarship or fellowship income would attach to Form W-9 a statement that includes the information described above to support that exemption.

If you are a nonresident alien or a foreign entity, give the requester the appropriate completed Form W-8 or Form 8233.

**Backup Withholding** 

**What is backup withholding?** Persons making certain payments to you must under certain conditions withhold and pay to the IRS 24% of such payments. This is called "backup withholding." Payments that may be subject to backup withholding include, but are not limited to, interest, tax-exempt interest, dividends, broker and barter exchange transactions, rents, royalties, nonemployee pay, payments made in settlement of payment card and third-party network transactions, and certain payments from fishing boat operators. Real estate transactions are not subject to backup withholding.

You will not be subject to backup withholding on payments you receive if you give the requester your correct TIN, make the proper certifications, and report all your taxable interest and dividends on your tax return.

**Payments you receive will be subject to backup withholding if:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. You do not furnish your TIN to the requester;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. You do not certify your TIN when required (see the instructions for Part II for details);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The IRS tells the requester that you furnished an incorrect TIN;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. You do not certify to the requester that you are not subject to backup withholding, as described in item 4 under "*By signing the filled-out form*" above (for reportable interest and dividend accounts opened after 1983 only).

Certain payees and payments are exempt from backup withholding. See *Exempt payee code*, later, and the separate Instructions for the Requester of Form W-9 for more information.

See also *Establishing U.S. status for purposes of chapter 3 and chapter 4 withholding,* earlier.

**What Is FATCA Reporting?** 

The Foreign Account Tax Compliance Act (FATCA) requires a participating foreign financial institution to report all U.S. account holders that are specified U.S. persons. Certain payees are exempt from FATCA reporting. See *Exemption from FATCA reporting code*, later, and the Instructions for the Requester of Form W-9 for more information.

**Updating Your Information** 

You must provide updated information to any person to whom you claimed to be an exempt payee if you are no longer an exempt payee and anticipate receiving reportable payments in the future from this person. For example, you may need to provide updated information if you are a C corporation that elects to be an S corporation, or if you are no longer tax exempt. In addition, you must furnish a new Form W-9 if the name or TIN changes for the account, for example, if the grantor of a grantor trust dies.

**Penalties** 

**Failure to furnish TIN.** If you fail to furnish your correct TIN to a requester, you are subject to a penalty of $50 for each such failure unless your failure is due to reasonable cause and not to willful neglect.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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| Form W-9 (Rev. 3-2024) | Page<sub>3</sub> |

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**Civil penalty for false information with respect to withholding.** If you make a false statement with no reasonable basis that results in no backup withholding, you are subject to a $500 penalty.

**Criminal penalty for falsifying information.** Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines and/or imprisonment.

**Misuse of TINs.** If the requester discloses or uses TINs in violation of federal law, the requester may be subject to civil and criminal penalties.

**Specific Instructions** 

**Line 1** 

You must enter one of the following on this line; **do not** leave this line blank. The name should match the name on your tax return.

If this Form W-9 is for a joint account (other than an account maintained by a foreign financial institution (FFI)), list first, and then circle, the name of the person or entity whose number you entered in Part I of Form W-9. If you are providing Form W-9 to an FFI to document a joint account, each holder of the account that is a U.S. person must provide a Form W-9.

• **Individual.** Generally, enter the name shown on your tax return. If you have changed your last name without informing the Social Security Administration (SSA) of the name change, enter your first name, the last name as shown on your social security card, and your new last name.

**Note for ITIN applicant:** Enter your individual name as it was entered on your Form W-7 application, line 1a. This should also be the same as the name you entered on the Form 1040 you filed with your application.

• **Sole proprietor.** Enter your individual name as shown on your Form 1040 on line 1. Enter your business, trade, or "doing business as" (DBA) name on line 2.

• **Partnership, C corporation, S corporation, or LLC, other than a disregarded entity.** Enter the entity's name as shown on the entity's tax return on line 1 and any business, trade, or DBA name on line 2.

• **Other entities.** Enter your name as shown on required U.S. federal tax documents on line 1. This name should match the name shown on the charter or other legal document creating the entity. Enter any business, trade, or DBA name on line 2.

• **Disregarded entity.** In general, a business entity that has a single owner, including an LLC, and is not a corporation, is disregarded as an entity separate from its owner (a disregarded entity). See Regulations section 301.7701-2(c)(2). A disregarded entity should check the appropriate box for the tax classification of its owner. Enter the owner's name on line 1. The name of the owner entered on line 1 should never be a disregarded entity. The name on line 1 should be the name shown on the income tax return on which the income should be reported. For example, if a foreign LLC that is treated as a disregarded entity for U.S. federal tax purposes has a single owner that is a U.S. person, the U.S. owner's name is required to be provided on line 1. If the direct owner of the entity is also a disregarded entity, enter the first owner that is not disregarded for federal tax purposes. Enter the disregarded entity's name on line 2. If the owner of the disregarded entity is a foreign person, the owner must complete an appropriate Form W-8 instead of a Form W-9. This is the case even if the foreign person has a U.S. TIN.

**Line 2** 

If you have a business name, trade name, DBA name, or disregarded entity name, enter it on line 2.

**Line 3a** 

Check the appropriate box on line 3a for the U.S. federal tax classification of the person whose name is entered on line 1. Check only one box on line 3a.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**IF the entity/individual on line 1 is a(n) . . .** | **THEN check the box for . . .** |
| &nbsp;&nbsp;&nbsp;• Corporation | Corporation. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • Individual or<br>• Sole proprietorship | Individual/sole proprietor. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; • LLC classified as a partnership for U.S. federal tax purposes or<br>• LLC that has filed Form 8832 or 2553 electing to be taxed as a corporation | Limited liability company and enter the appropriate tax classification:<br> P = Partnership,<br> C = C corporation, or<br> S = S corporation. |
| &nbsp;&nbsp;&nbsp;• Partnership | Partnership. |
| &nbsp;&nbsp;&nbsp;• Trust/estate | Trust/estate. |

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**Line 3b** 

Check this box if you are a partnership (including an LLC classified as a partnership for U.S. federal tax purposes), trust, or estate that has any foreign partners, owners, or beneficiaries, and you are providing this form to a partnership, trust, or estate, in which you have an ownership interest. You must check the box on line 3b if you receive a Form W-8 (or documentary evidence) from any partner, owner, or beneficiary establishing foreign status or if you receive a Form W-9 from any partner, owner, or beneficiary that has checked the box on line 3b.

**Note:** A partnership that provides a Form W-9 and checks box 3b may be required to complete Schedules K-2 and K-3 (Form 1065). For more information, see the Partnership Instructions for Schedules K-2 and K-3 (Form 1065).

If you are required to complete line 3b but fail to do so, you may not receive the information necessary to file a correct information return with the IRS or furnish a correct payee statement to your partners or beneficiaries. See, for example, sections 6698, 6722, and 6724 for penalties that may apply.

**Line 4 Exemptions** 

If you are exempt from backup withholding and/or FATCA reporting, enter in the appropriate space on line 4 any code(s) that may apply to you.

**Exempt payee code.** 

• Generally, individuals (including sole proprietors) are not exempt from backup withholding.

• Except as provided below, corporations are exempt from backup withholding for certain payments, including interest and dividends.

• Corporations are not exempt from backup withholding for payments made in settlement of payment card or third-party network transactions.

• Corporations are not exempt from backup withholding with respect to attorneys' fees or gross proceeds paid to attorneys, and corporations that provide medical or health care services are not exempt with respect to payments reportable on Form 1099-MISC.

The following codes identify payees that are exempt from backup withholding. Enter the appropriate code in the space on line 4.

1 — An organization exempt from tax under section 501(a), any IRA, or a custodial account under section 403(b)(7) if the account satisfies the requirements of section 401(f)(2).

2 — The United States or any of its agencies or instrumentalities.

3 — A state, the District of Columbia, a U.S. commonwealth or territory, or any of their political subdivisions or instrumentalities.

4 — A foreign government or any of its political subdivisions, agencies, or instrumentalities.

5 — A corporation.

6 — A dealer in securities or commodities required to register in the United States, the District of Columbia, or a U.S. commonwealth or territory.

7 — A futures commission merchant registered with the Commodity Futures Trading Commission.

8 — A real estate investment trust.

9 — An entity registered at all times during the tax year under the Investment Company Act of 1940.

10 — A common trust fund operated by a bank under section 584(a).

11 — A financial institution as defined under section 581.

12 — A middleman known in the investment community as a nominee or custodian.

13 — A trust exempt from tax under section 664 or described in section 4947.

The following chart shows types of payments that may be exempt from backup withholding. The chart applies to the exempt payees listed above, 1 through 13.

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|:---|:---|
| **IF the payment is for...** | **THEN the payment is exempt for…** |
| &nbsp;&nbsp;&nbsp;&nbsp;• Interest and dividend payments | All exempt payees except for 7. |
| &nbsp;&nbsp;&nbsp;&nbsp;• Broker transactions | Exempt payees 1 through 4 and 6 through 11 and all C corporations. S corporations must not enter an exempt payee code because they are exempt only for sales of noncovered securities acquired prior to 2012. |
| &nbsp;&nbsp;&nbsp;&nbsp;• Barter exchange transactions and patronage dividends | Exempt payees 1 through 4. |
| &nbsp;&nbsp;&nbsp;&nbsp;• Payments over $600 required to be reported and direct sales over $5,000<sup>1</sup> | Generally, exempt payees 1 through 5.<sup>2</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;• Payments made in settlement of payment card or third-party network transactions | Exempt payees 1 through 4. |

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<sup>1</sup> See Form 1099-MISC, Miscellaneous Information, and its instructions. 

<sup>2</sup> However, the following payments made to a corporation and reportable on Form 1099-MISC are not exempt from backup withholding: medical and health care payments, attorneys' fees, gross proceeds paid to an attorney reportable under section 6045(f), and payments for services paid by a federal executive agency. 

**Exemption from FATCA reporting code.** The following codes identify payees that are exempt from reporting under FATCA. These codes apply to persons submitting this form for accounts maintained outside of the United States by certain foreign financial institutions. Therefore, if you are only submitting this form for an account you hold in the United States, you may leave this field blank. Consult with the person requesting this form if you are uncertain if the financial institution is subject to these requirements. A requester may indicate that a code is not required by providing you with a Form W-9 with "Not Applicable" (or any similar indication) entered on the line for a FATCA exemption code.

A — An organization exempt from tax under section 501(a) or any individual retirement plan as defined in section 7701(a)(37).

B — The United States or any of its agencies or instrumentalities.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

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C — A state, the District of Columbia, a U.S. commonwealth or territory, or any of their political subdivisions or instrumentalities.

D — A corporation the stock of which is regularly traded on one or more established securities markets, as described in Regulations section 1.1472-1(c)(1)(i).

E — A corporation that is a member of the same expanded affiliated group as a corporation described in Regulations section 1.1472-1(c)(1)(i).

F — A dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any state.

G — A real estate investment trust.

H — A regulated investment company as defined in section 851 or an entity registered at all times during the tax year under the Investment Company Act of 1940.

I — A common trust fund as defined in section 584(a).

J — A bank as defined in section 581.

K — A broker.

L — A trust exempt from tax under section 664 or described in section 4947(a)(1).

M — A tax-exempt trust under a section 403(b) plan or section 457(g) plan.

**Note:** You may wish to consult with the financial institution requesting this form to determine whether the FATCA code and/or exempt payee code should be completed.

**Line 5** 

Enter your address (number, street, and apartment or suite number). This is where the requester of this Form W-9 will mail your information returns. If this address differs from the one the requester already has on file, enter "NEW" at the top. If a new address is provided, there is still a chance the old address will be used until the payor changes your address in their records.

**Line 6** 

Enter your city, state, and ZIP code.

**Part I. Taxpayer Identification Number (TIN)** 

**Enter your TIN in the appropriate box.** If you are a resident alien and you do not have, and are not eligible to get, an SSN, your TIN is your IRS ITIN. Enter it in the entry space for the Social security number. If you do not have an ITIN, see *How to get a TIN* below.

If you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN.

If you are a single-member LLC that is disregarded as an entity separate from its owner, enter the owner's SSN (or EIN, if the owner has one). If the LLC is classified as a corporation or partnership, enter the entity's EIN.

**Note:** See *What Name and Number To Give the Requester*, later, for further clarification of name and TIN combinations.

**How to get a TIN.** If you do not have a TIN, apply for one immediately. To apply for an SSN, get Form SS-5, Application for a Social Security Card, from your local SSA office or get this form online at *www.SSA.gov*. You may also get this form by calling 800-772-1213. Use Form W-7, Application for IRS Individual Taxpayer Identification Number, to apply for an ITIN, or Form SS-4, Application for Employer Identification Number, to apply for an EIN. You can apply for an EIN online by accessing the IRS website at *www.irs.gov/EIN*. Go to *www.irs.gov/Forms* to view, download, or print Form W-7 and/or Form SS-4. Or, you can go to *www.irs.gov/OrderForms* to place an order and have Form W-7 and/or Form SS-4 mailed to you within 15 business days.

If you are asked to complete Form W-9 but do not have a TIN, apply for a TIN and enter "Applied For" in the space for the TIN, sign and date the form, and give it to the requester. For interest and dividend payments, and certain payments made with respect to readily tradable instruments, you will generally have 60 days to get a TIN and give it to the requester before you are subject to backup withholding on payments. The 60-day rule does not apply to other types of payments. You will be subject to backup withholding on all such payments until you provide your TIN to the requester.

**Note:** Entering "Applied For" means that you have already applied for a TIN or that you intend to apply for one soon. See also *Establishing U.S. status for purposes of chapter 3 and chapter 4 withholding*, earlier, for when you may instead be subject to withholding under chapter 3 or 4 of the Code.

**Caution:** A disregarded U.S. entity that has a foreign owner must use the appropriate Form W-8.

**Part II. Certification** 

To establish to the withholding agent that you are a U.S. person, or resident alien, sign Form W-9. You may be requested to sign by the withholding agent even if item 1, 4, or 5 below indicates otherwise.

For a joint account, only the person whose TIN is shown in Part I should sign (when required). In the case of a disregarded entity, the person identified on line 1 must sign. Exempt payees, see *Exempt payee code*, earlier.

**Signature requirements.** Complete the certification as indicated in items 1 through 5 below.

&nbsp;&nbsp;&nbsp;&nbsp;**1. Interest, dividend, and barter exchange accounts opened before 1984 and broker accounts considered active during 1983.** You must give your correct TIN, but you do not have to sign the certification.

&nbsp;&nbsp;&nbsp;&nbsp;**2. Interest, dividend, broker, and barter exchange accounts opened after 1983 and broker accounts considered inactive during 1983.** You must sign the certification or backup withholding will apply. If you are subject to backup withholding and you are merely providing your correct TIN to the requester, you must cross out item 2 in the certification before signing the form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;**3. Real estate transactions.** You must sign the certification. You may cross out item 2 of the certification.

&nbsp;&nbsp;&nbsp;&nbsp;**4. Other payments.** You must give your correct TIN, but you do not have to sign the certification unless you have been notified that you have previously given an incorrect TIN. "Other payments" include payments made in the course of the requester's trade or business for rents, royalties, goods (other than bills for merchandise), medical and health care services (including payments to corporations), payments to a nonemployee for services, payments made in settlement of payment card and third-party network transactions, payments to certain fishing boat crew members and fishermen, and gross proceeds paid to attorneys (including payments to corporations).

&nbsp;&nbsp;&nbsp;&nbsp;**5. Mortgage interest paid by you, acquisition or abandonment of secured property, cancellation of debt, qualified tuition program payments (under section 529), ABLE accounts (under section 529A), IRA, Coverdell ESA, Archer MSA or HSA contributions or distributions, and pension distributions.** You must give your correct TIN, but you do not have to sign the certification.

**What Name and Number To Give the Requester** 

---

| | | |
|:---|:---|:---|
| | **For this type of account:** | **Give name and SSN of:** |
| 1. | Individual | The individual |
| 2. | Two or more individuals (joint account) other than an account maintained by an FFI | The actual owner of the account or, if combined funds, the first individual on the account<sup>1</sup> |
| 3. | Two or more U.S. persons (joint account maintained by an FFI) | Each holder of the account |
| 4. | Custodial account of a minor (Uniform Gift to Minors Act) | The minor<sup>2</sup> |
| 5. | a. The usual revocable savings trust (grantor is also trustee) | The grantor-trustee<sup>1</sup> |
|  | b. So-called trust account that is not a legal or valid trust under state law | The actual owner<sup>1</sup> |
| 6. | Sole proprietorship or disregarded entity owned by an individual | The owner<sup>3</sup> |
| 7. | Grantor trust filing under Optional Filing Method 1 (see Regulations section 1.671-4(b)(2)(i)(A))\*\* | The grantor\* |
| **For this type of account:** | **For this type of account:** | **Give name and EIN of:** |
| 8. | Disregarded entity not owned by an individual | The owner |
| 9. | A valid trust, estate, or pension trust | Legal entity<sup>4</sup> |
| 10. | Corporation or LLC electing corporate status on Form 8832 or Form 2553 | The corporation |
| 11. | Association, club, religious, charitable, educational, or other tax-exempt organization | The organization |
| 12. | Partnership or multi-member LLC | The partnership |
| 13. | A broker or registered nominee | The broker or nominee |
| 14. | Account with the Department of Agriculture in the name of a public entity (such as a state or local government, school district, or prison) that receives agricultural program payments | The public entity |
| 15. | Grantor trust filing Form 1041 or under the Optional Filing Method 2, requiring Form 1099 (see Regulations section 1.671-4(b)(2)(i)(B))\*\* | The trust |

---

<sup>1</sup> List first and circle the name of the person whose number you furnish. If only one person on a joint account has an SSN, that person's number must be furnished.

<sup>2</sup> Circle the minor's name and furnish the minor's SSN.

<sup>3</sup> You must show your individual name on line 1, and enter your business or DBA name, if any, on line 2. You may use either your SSN or EIN (if you have one), but the IRS encourages you to use your SSN.

<sup>4</sup> List first and circle the name of the trust, estate, or pension trust. (Do not furnish the TIN of the personal representative or trustee unless the legal entity itself is not designated in the account title.)

\* **Note:** The grantor must also provide a Form W-9 to the trustee of the trust.

\*\* For more information on optional filing methods for grantor trusts, see the Instructions for Form 1041.

**Note:** If no name is circled when more than one name is listed, the number will be considered to be that of the first name listed.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

------

---

| | |
|:---|:---|
| Form W-9 (Rev. 3-2024) | Page<sub>5</sub> |

---

**Secure Your Tax Records From Identity Theft** 

Identity theft occurs when someone uses your personal information, such as your name, SSN, or other identifying information, without your permission to commit fraud or other crimes. An identity thief may use your SSN to get a job or may file a tax return using your SSN to receive a refund.

To reduce your risk:

• Protect your SSN,

• Ensure your employer is protecting your SSN, and

• Be careful when choosing a tax return preparer.

If your tax records are affected by identity theft and you receive a notice from the IRS, respond right away to the name and phone number printed on the IRS notice or letter.

If your tax records are not currently affected by identity theft but you think you are at risk due to a lost or stolen purse or wallet, questionable credit card activity, or a questionable credit report, contact the IRS Identity Theft Hotline at 800-908-4490 or submit Form 14039.

For more information, see Pub. 5027, Identity Theft Information for Taxpayers.

Victims of identity theft who are experiencing economic harm or a systemic problem, or are seeking help in resolving tax problems that have not been resolved through normal channels, may be eligible for Taxpayer Advocate Service (TAS) assistance. You can reach TAS by calling the TAS toll-free case intake line at 877-777-4778 or TTY/TDD 800-829-4059.

**Protect yourself from suspicious emails or phishing schemes.** Phishing is the creation and use of email and websites designed to mimic legitimate business emails and websites. The most common act is sending an email to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the user into surrendering private information that will be used for identity theft.

The IRS does not initiate contacts with taxpayers via emails. Also, the IRS does not request personal detailed information through email or ask taxpayers for the PIN numbers, passwords, or similar secret access information for their credit card, bank, or other financial accounts.

If you receive an unsolicited email claiming to be from the IRS, forward this message to *phishing@irs.gov*. You may also report misuse of the IRS name, logo, or other IRS property to the Treasury Inspector General for Tax Administration (TIGTA) at 800-366-4484. You can forward suspicious emails to the Federal Trade Commission at *spam@uce.gov* or report them at *www.ftc.gov/complaint*. You can contact the FTC at *www.ftc.gov/idtheft* or 877-IDTHEFT (877-438-4338). If you have been the victim of identity theft, see *www.IdentityTheft.gov* and Pub. 5027.

Go to *www.irs.gov/IdentityTheft* to learn more about identity theft and how to reduce your risk.

**Privacy Act Notice** 

Section 6109 of the Internal Revenue Code requires you to provide your correct TIN to persons (including federal agencies) who are required to file information returns with the IRS to report interest, dividends, or certain other income paid to you; mortgage interest you paid; the acquisition or abandonment of secured property; the cancellation of debt; or contributions you made to an IRA, Archer MSA, or HSA. The person collecting this form uses the information on the form to file information returns with the IRS, reporting the above information. Routine uses of this information include giving it to the Department of Justice for civil and criminal litigation and to cities, states, the District of Columbia, and U.S. commonwealths and territories for use in administering their laws. The information may also be disclosed to other countries under a treaty, to federal and state agencies to enforce civil and criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism. You must provide your TIN whether or not you are required to file a tax return. Under section 3406, payors must generally withhold a percentage of taxable interest, dividends, and certain other payments to a payee who does not give a TIN to the payor. Certain penalties may also apply for providing false or fraudulent information.

VOLUNTARY CORPORATE ACTIONS, COY: INZY

## Ex-99.(A)(1)(Iii)

**Exhibit (a)(1)(iii)** 

**Offer to Purchase for Cash** 

**All Outstanding Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**Pursuant to the Offer to Purchase Dated June 2, 2025** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BioMarin Pharmaceutical Inc.** 

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M., EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLIER TERMINATED.** 

June 2, 2025

To Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees:

We have been engaged by Incline Merger Sub, Inc., a Delaware corporation ("<u>Purchaser</u>") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("<u>Parent</u>"), to act as the information agent (the "<u>Information Agent</u>") in connection with Purchaser's offer to acquire all of the outstanding shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation ("<u>Inozyme</u>"), at a purchase price of $4.00 per Share (the "<u>Offer Price</u>"), in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 2, 2025 (as it may be amended or supplemented from time to time, the "<u>Offer to Purchase</u>") and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the "<u>Letter of Transmittal</u>" and, together with the Offer to Purchase, the "<u>Offer</u>") enclosed herewith.

Please furnish copies of the enclosed materials to those of your clients for whose accounts you hold Shares registered in your name or in the name of your nominee.

Enclosed herewith for your information and forwarding to your clients for whose accounts you hold Shares registered in your name or in the name of your nominee are copies of the following documents:

1. The Offer to Purchase.

2. The related Letter of Transmittal for your use in accepting the Offer and tendering Shares and for the
information of your clients. Facsimile copies of the Letter of Transmittal may be used to tender Shares.

3. IRS Form W-9 and instructions providing information relating to federal
income tax backup withholding.

4. Notice of Guaranteed Delivery to be used to accept the Offer if certificates for Shares and all other required
documents cannot be delivered to Computershare Trust Company, N.A. (the " <u>Depositary</u> "), or if the procedures for book-entry transfer cannot be completed, prior to the expiration of the Offer.

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5. A form of letter which may be sent to your clients for whose accounts you hold Shares registered in your name
or in the name of your nominee, with space provided for obtaining such clients' instructions with regard to the Offer.

6. Inozyme's Solicitation/Recommendation Statement on Schedule 14D-9 dated June 2, 2025.

**YOUR PROMPT ACTION IS REQUESTED. WE URGE YOU TO CONTACT YOUR CLIENTS AS PROMPTLY AS POSSIBLE. PLEASE NOTE THAT THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M., EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLY TERMINATED (SUCH DATE OR SUCH SUBSEQUENT DATE TO WHICH THE EXPIRATION OF THE OFFER IS EXTENDED IN ACCORDANCE WITH THE MERGER AGREEMENT (AS DEFINED BELOW), THE "<u>EXPIRATION DATE</u>").**

The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time, the "<u>Merger Agreement</u>"), by and among Inozyme, Parent and Purchaser. The Merger Agreement provides, among other things, that as soon as practicable following (but in any event on the same day as) the acceptance of the Shares for payment (the "<u>Offer Acceptance Time</u>"), subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser will merge with and into Inozyme (the "<u>Merger</u>"), with Inozyme continuing as the surviving corporation and a wholly-owned subsidiary of Parent. The effective time of the Merger (being such date and at such time as the certificate of merger in respect of the Merger is duly filed with the Secretary of State of the State of Delaware or at such later time and date as may be agreed upon by the parties to the Merger Agreement in writing and specified in the certificate of merger in accordance with the Delaware General Corporation Law (the "<u>DGCL</u>")) is referred to as the "<u>Merger Effective Time.</u>" As of the Merger Effective Time, each outstanding Share (other than (i) Shares held by Inozyme (including Shares held in Inozyme's treasury), (ii) Shares held by Parent, Purchaser or any other direct or indirect wholly-owned subsidiary of Parent, (iii) Shares validly tendered and irrevocably accepted for purchase in the Offer and (iv) Shares outstanding immediately prior to the Merger Effective Time that are held by holders who are entitled to appraisal rights under Section 262 of the DGCL and have properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262 of the DGCL and, as of the Merger Effective Time, have neither effectively withdrawn nor lost their rights to such appraisal and payment under the DGCL) will be converted into the right to receive the price per Share paid in the Offer in cash, without interest and subject to any applicable withholding of taxes. No appraisal rights are available in connection with the Offer. However, pursuant to the DGCL, if the Offer is successful and the Merger is consummated, stockholders or beneficial owners of Inozyme who continuously held Shares from the date of the demand for appraisal through the Merger Effective Time who (i) did not tender their Shares in the Offer (or, if tendered, properly and subsequently withdrew such Shares prior to the Offer Acceptance Time); (ii) follow the procedures set forth in Section 262 of the DGCL, including providing documentary evidence of such stockholder's beneficial ownership of such Shares; and (iii) do not thereafter withdraw their demand for appraisal of such Shares or otherwise lose their appraisal rights, in each case in accordance with Section 262 of the DGCL, will be entitled to receive appraisal rights for the "fair value" of their Shares in accordance with Section 262 of the DGCL. The "fair value" of such Shares as of the Merger Effective Time could be more than, the same as or less than the consideration to be received pursuant to the Merger. The Merger Agreement is more fully described in Section 13 of the Offer to Purchase.

**The board of directors of Inozyme, at a meeting duly called and held, unanimously (a) determined that the Merger Agreement and the transactions contemplated by the Merger Agreement, including the Offer and the Merger (the "Transactions"), are advisable, fair to, and in the best interest of, Inozyme and its stockholders, (b) approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the Transactions, on the terms and subject to the conditions set forth in the Merger Agreement, (c) resolved that the Merger will be effected under Section 251(h) of the DGCL, and (d) resolved to recommend that the holders of Shares tender their Shares to Purchaser pursuant to the Offer.** 

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**Concurrently with the execution of the Merger Agreement, certain stockholders of Inozyme entered into Tender and Support Agreements (the "Support Agreements"). Pursuant to the Support Agreements, each of these stockholders has agreed, among other things, to tender, or cause to be tendered, pursuant to the Offer, all Shares held of record and beneficially owned by such persons immediately prior to the time of expiration of the Offer.** 

**Inozyme has been advised that all of its directors and executive officers currently intend to tender, or cause to be tendered pursuant to the Offer, all Shares held of record and beneficially owned by such persons immediately prior to the Expiration Date. The foregoing does not include any Shares over which, or with respect to which, any such executive officer or director acts in a fiduciary or representative capacity or is subject to the instructions of a third party with respect to such tender.** 

Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the U.S. Securities and Exchange Commission (the "<u>SEC</u>"), including Rule 14e-l(c) under the Securities Exchange Act of 1934, as amended, relating to Purchaser's obligation to pay for or return tendered Shares promptly after termination or withdrawal of the Offer) pay for, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn as of immediately prior to the expiration of the Offer), and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares: (i) if the Merger Agreement has been terminated in accordance with its terms; and (ii) at any scheduled Expiration Date (subject to any extensions of the Offer pursuant to the terms of the Merger Agreement), if (A) any of the Minimum Condition, the Termination Condition, the Order Condition, or the Regulatory Condition (each, as defined below) have not been satisfied by the Expiration Date; or (B) any of the following conditions have not been satisfied or waived in writing by Parent as of the Expiration Date: (a) the number of Shares (1) validly tendered (and not validly withdrawn) prior to the Expiration Date and (2) otherwise beneficially owned by Parent or Purchaser (or any wholly-owned subsidiary of Parent or Purchaser), if any, collectively represent at least one Share more than 50% of the then-issued and outstanding Shares as of the expiration of the Offer (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)) (the "<u>Minimum Condition</u>"); (b) the representations and warranties of Inozyme as set forth in the Merger Agreement are accurate, subject to applicable materiality and other qualifiers as set forth in the Merger Agreement (the "<u>Representation Condition</u>"); (c) Inozyme having complied with or performed in all material respects all of Inozyme's covenants and agreements it is required to comply with or perform at or prior to the Offer Acceptance Time (the "<u>Obligations Condition</u>"); (d) since the date of the Merger Agreement, there will not have occurred any Material Adverse Effect (as defined in the Merger Agreement and described in more detail in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase) that is continuing as of the Offer Acceptance Time (the "<u>MAE Condition</u>"); (e) the waiting period (or any extension thereof) applicable to the Offer under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and any timing agreement with any governmental body has expired or been terminated (the "<u>Regulatory Condition</u>"); (f) Parent and Purchaser having received a certificate executed on behalf of Inozyme by Inozyme's Chief Executive Officer or its Chief Financial Officer confirming that the Representations Condition, the Obligations Condition and the MAE Condition have been duly satisfied; (g) there not having been issued by any court of competent jurisdiction or remaining in effect any temporary, preliminary or permanent order preventing the acquisition of or payment for Shares pursuant to the Offer, nor any law or order promulgated, entered, enforced, enacted, issued or deemed applicable to the Offer or the Merger by any governmental body of competent jurisdiction that remains in effect that directly or indirectly enjoins, restrains or otherwise prohibits, or makes illegal, the acquisition of or payment for Shares pursuant to the Offer, or the consummation of the Merger (the "<u>Order Condition</u>"); and (h) the Merger Agreement not having been terminated in accordance with its terms (the "<u>Termination Condition</u>"). These conditions to the Offer are described in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase.

Purchaser will not pay any fees or commissions to any broker or dealer or any other person (other than the Information Agent and the Depositary as described in the Offer to Purchase) for soliciting tenders of Shares pursuant to the Offer. Brokers, dealers, commercial banks, trust companies and other nominees will, upon request, be reimbursed by Purchaser for reasonable and necessary costs and expenses incurred by them in forwarding the enclosed materials to their customers.

------

Purchaser will pay all stock transfer taxes applicable to its purchase of Shares pursuant to the Offer, subject to Instruction 6 of the Letter of Transmittal.

In order to take advantage of the Offer, the Depositary must receive the Letter of Transmittal (or a manually signed facsimile thereof), properly completed and signed, together with any required signature guarantees, or an Agent's Message (as defined in the Offer to Purchase) in connection with a book-entry transfer of Shares, and any other required documents, at one of the Depositary's addresses set forth on the back cover of the Offer to Purchase on or prior to the Expiration Date and certificates representing the tendered Shares should be delivered or such Shares should be tendered by book-entry transfer and the Depositary must receive timely confirmation of the book-entry transfer, all in accordance with the instructions contained in the Letter of Transmittal and the Offer to Purchase. If you wish to tender Shares pursuant to the Offer and cannot deliver such Shares and all other required documents to the Depositary or cannot complete the procedure for delivery by book-entry transfer described in "The Offer—Section 3—Procedures for Tendering Shares" of the Offer to Purchase, in each case prior to the Expiration Date, you may tender your Shares by following the procedures for guaranteed delivery set forth in "The Offer—Section 3—Procedures for Tendering Shares" of the Offer to Purchase.

Any inquiries you may have with respect to the Offer should be addressed to, and additional copies of the enclosed materials may be obtained from, the Information Agent at its address and telephone numbers set forth on the back cover of the Offer to Purchase.

Very truly yours,

Innisfree M&A Incorporated

**NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL RENDER YOU THE AGENT OF PARENT, PURCHASER, THE INFORMATION AGENT OR THE DEPOSITARY, OR ANY AFFILIATE OF ANY OF THEM, OR AUTHORIZE YOU OR ANY OTHER PERSON TO USE ANY DOCUMENT OR MAKE ANY STATEMENT ON BEHALF OF ANY OF THEM IN CONNECTION WITH THE OFFER OTHER THAN THE DOCUMENTS ENCLOSED HEREWITH AND THE STATEMENTS CONTAINED THEREIN.**

## Ex-99.(A)(1)(Iv)

**Exhibit (a)(1)(iv)** 

**Offer to Purchase for Cash** 

**All Outstanding Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**Pursuant to the Offer to Purchase Dated June 2, 2025** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BioMarin Pharmaceutical Inc.** 

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M., EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLIER TERMINATED.** 

To Our Clients:

Enclosed for your consideration are the Offer to Purchase dated June 2, 2025 (the "<u>Offer to Purchase</u>") and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the "<u>Letter of Transmittal</u>" and, together with the Offer to Purchase, collectively the "<u>Offer</u>") in connection with the offer by Incline Merger Sub, Inc., a Delaware corporation ("<u>Purchaser</u>") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("<u>Parent</u>"), to acquire all of the outstanding shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation ("<u>Inozyme</u>"), for $4.00 per Share (the "<u>Offer Price</u>"), in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in the Offer. Also enclosed is Inozyme's Solicitation/Recommendation Statement on Schedule 14D-9.

We or our nominees are the holder of record of Shares held for your account. A tender of such Shares can be made only by us or our nominees as the holder of record and pursuant to your instructions. The enclosed Letter of Transmittal is furnished to you for your information only and cannot be used by you to tender Shares held by us or our nominees for your account.

We request instructions as to whether you wish us to tender any or all of the Shares held by us or our nominees for your account, upon the terms and subject to the conditions set forth in the Offer.

Your attention is directed to the following:

1. The Offer Price is $4.00 per Share, in cash, without interest, subject to any applicable withholding of taxes,
upon the terms and subject to the conditions set forth in the Offer.

2. The Offer is being made for all outstanding Shares.

3. The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may
be amended or supplemented from time to time, the " <u>Merger Agreement</u> "), by and among Inozyme, Parent and Purchaser. The Merger Agreement provides, among other things, that as soon as practicable following (but in

------

any event on the same day as) the acceptance of the Shares for payment (the "<u>Offer Acceptance</u> <u>Time</u>"), subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser will merge with and into Inozyme (the "<u>Merger</u>"), with Inozyme continuing as the surviving corporation and a wholly-owned subsidiary of Parent. The effective time of the Merger (being such date and at such time as the certificate of merger in respect of the Merger is duly filed with the Secretary of State of the State of Delaware or at such later time and date as may be agreed upon by the parties to the Merger Agreement in writing and specified in the certificate of merger in accordance with the Delaware General Corporation Law (the "<u>DGCL</u>")) is referred to as the "<u>Merger Effective Time</u>." As of the Merger Effective Time, each outstanding Share (other than (a) Shares held by Inozyme (including Shares held in Inozyme's treasury), (b) Shares held by Parent, Purchaser or any other direct or indirect wholly-owned subsidiary of Parent, (c) Shares validly tendered and irrevocably accepted for purchase in the Offer and (d) Shares outstanding immediately prior to the Merger Effective Time that are held by holders who are entitled to appraisal rights under Section 262 of the DGCL and have properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262 of the DGCL and, as of the Merger Effective Time, have neither effectively withdrawn nor lost their rights to such appraisal and payment under the DGCL) will be converted into the right to receive the price per Share paid in the Offer in cash, without interest and subject to any applicable withholding of taxes. No appraisal rights are available in connection with the Offer. However, pursuant to the DGCL, if the Offer is successful and the Merger is consummated, stockholders of Inozyme who continuously held Shares from the date of the demand for appraisal through the Merger Effective Time who (i) did not tender their Shares in the Offer (or, if tendered, properly and subsequently withdrew such Shares prior to the Offer Acceptance Time); (ii) follow the procedures set forth in Section 262 of the DGCL, including providing documentary evidence of such stockholder's beneficial ownership of such Shares; and (iii) do not thereafter withdraw their demand for appraisal of such Shares or otherwise lose their appraisal rights, in each case in accordance with Section 262 of the DGCL, will be entitled to receive appraisal rights for the "fair value" of their Shares in accordance with Section 262 of the DGCL. The "fair value" of such Shares as of the Merger Effective Time could be more than, the same as or less than the consideration to be received pursuant to the Merger. The Merger Agreement is more fully described in Section 13 of the Offer to Purchase.

4. **The board of directors of Inozyme, at a meeting duly called and held, unanimously (a) determined that the Merger Agreement and the transactions contemplated by the Merger Agreement, including the Offer and the Merger (the "Transactions"), are advisable, fair to, and in the best interest of, Inozyme and its stockholders, (b) approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the Transactions, on the terms and subject to the conditions set forth in the Merger Agreement, (c) resolved that the Merger will be effected under Section 251(h) of the DGCL, and (d) resolved to recommend that the holders of Shares tender their Shares to Purchaser pursuant to the Offer.** 

5. The Offer and withdrawal rights expire one minute following 11:59 p.m., Eastern Time, on June 30, 2025,
unless extended or earlier terminated as permitted by the Merger Agreement (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the " <u>Expiration Date</u> ").

6. Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the
U.S. Securities and Exchange Commission (the " <u>SEC</u> "), including Rule 14e-l(c) under the Securities Exchange Act of 1934, as amended, relating to Purchaser's obligation to pay for or return
tendered Shares promptly after termination or withdrawal of the Offer) pay for, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn as of immediately prior to the expiration of the
Offer), and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares: (i) if the Merger Agreement has been
terminated in accordance with its terms; and (ii) at any scheduled Expiration Date (subject to any extensions of the Offer pursuant to the terms of the Merger Agreement), if (A) any of the Minimum Condition, the Termination Condition, the
Order Condition, or the Regulatory Condition (each, as defined below) have not been satisfied by the Expiration Date; or (B) any of the following conditions have not been satisfied or waived in writing by Parent as of the Expiration Date:
(a) the number of Shares (1) validly tendered (and not validly withdrawn) prior to the Expiration Date and

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(2) otherwise beneficially owned by Parent or Purchaser (or any wholly-owned subsidiary of Parent or Purchaser), if any, that collectively represent at least one Share more than 50% of the then-issued and outstanding Shares as of the expiration of the Offer (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)) (the "<u>Minimum Condition</u>"); (b) the representations and warranties of Inozyme as set forth in the Merger Agreement are accurate, subject to applicable materiality and other qualifiers as set forth in the Merger Agreement (the "<u>Representation Condition</u>"); (c) Inozyme having complied with or performed in all material respects all of Inozyme's covenants and agreements it is required to comply with or perform at or prior to the Offer Acceptance Time (the "<u>Obligations Condition</u>"); (d) since the date of the Merger Agreement, there will not have occurred any Material Adverse Effect (as defined in the Merger Agreement and described in more detail in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase) that is continuing as of the Offer Acceptance Time (the "<u>MAE Condition</u>"); (e) the waiting period (or any extension thereof) applicable to the Offer under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and any timing agreement with any governmental body has expired or been terminated (the "<u>Regulatory Condition</u>"); (f) Parent and Purchaser having received a certificate executed on behalf of Inozyme by Inozyme's Chief Executive Officer or its Chief Financial Officer confirming that the Representations Condition, the Obligations Condition and the MAE Condition have been duly satisfied; (g) there not having been issued by any court of competent jurisdiction or remaining in effect any temporary, preliminary or permanent order preventing the acquisition of or payment for Shares pursuant to the Offer, nor any law or order promulgated, entered, enforced, enacted, issued or deemed applicable to the Offer or the Merger by any governmental body of competent jurisdiction that remains in effect that directly or indirectly enjoins, restrains or otherwise prohibits, or makes illegal, the acquisition of or payment for Shares pursuant to the Offer, or the consummation of the Merger (the "<u>Order Condition</u>"); and (h) the Merger Agreement not having been terminated in accordance with its terms (the "<u>Termination Condition</u>"). These conditions to the Offer are described in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase.

7. Any stock transfer taxes applicable to the sale of Shares to Purchaser pursuant to the Offer will be paid by
Purchaser, except as otherwise set forth in Instruction 6 of the Letter of Transmittal. However, federal income tax backup withholding may be required at the applicable rate (currently 24%), unless the required taxpayer identification information is
provided and certain certification requirements are met, or unless an exemption is established. See Instruction 8 of the Letter of Transmittal.

If you wish to have us or our nominees tender any or all of your Shares, please complete, sign, detach and return the instruction form below. An envelope to return your instructions to us is enclosed. If you authorize tender of your Shares, all such Shares will be tendered unless otherwise specified on the instruction form. Your prompt action is requested. Your instructions should be forwarded to us in ample time to permit us to submit a tender on your behalf by the Expiration Date.

The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Shares in any U.S. or foreign jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the laws of such jurisdiction. In those jurisdictions where the applicable laws require that the Offer be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Purchaser by one or more registered brokers or dealers licensed under the laws of such jurisdiction to be designated by Purchaser.

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**Instruction Form with Respect to** 

**Offer to Purchase for Cash** 

**All Outstanding Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**Pursuant to the Offer to Purchase Dated June 2, 2025** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BioMarin Pharmaceutical Inc.** 

The undersigned acknowledge(s) receipt of your letter and the enclosed Offer to Purchase dated June 2, 2025 and the related Letter of Transmittal (collectively, as may be amended or supplemented from time to time, the "<u>Offer</u>"), in connection with the offer by Incline Merger Sub, Inc., a Delaware corporation ("<u>Purchaser</u>") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("<u>Parent</u>"), to acquire all of the outstanding shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation ("<u>Inozyme</u>"), for $4.00 per Share, in cash, without interest, subject to any applicable withholding of taxes and upon the terms and subject to the conditions set forth in the Offer.

The undersigned hereby instruct(s) you to tender to Purchaser the number of Shares indicated below (or if no number is indicated below, all Shares) held by you or your nominees for the account of the undersigned, upon the terms and subject to the conditions set forth in the Offer furnished to the undersigned. The undersigned understands and acknowledges that all questions as to the validity, form and eligibility (including time of receipt) and acceptance for payment of any tender of Shares made on my behalf will be determined by Purchaser in its sole discretion.

**The method of delivery of this Instruction Form is at the election and risk of the tendering stockholder. We are not providing for guaranteed delivery procedures. Shares will be deemed delivered only when actually received by the Paying Agent. If certificates for Shares are sent by mail, we recommend registered mail with return receipt requested, properly insured, in time to be received on or prior to the Expiration Date. In all cases, sufficient time should be allowed to ensure timely delivery.**

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---

| | | |
|:---|:---|:---|
| Number of Shares to be Tendered: | Number of Shares to be Tendered: | **SIGN HERE** |
|  | Shares\* | |
|  |  | Signature(s) |
| Dated<u> </u> |  | |
|  |  | Name(s) (Please Print) |
|  |  | Address(es) |
|  |  | (Zip Code) |
|  |  | Area Code and Telephone Number |
|  |  | Taxpayer Identification or Social Security Number |

---

\* Unless otherwise indicated, it will be assumed that all Shares held for the undersigned's account are to be tendered.

## Ex-99.(A)(1)(V)

**Exhibit (a)(1)(v)** 

**NOTICE OF GUARANTEED DELIVERY** 

**to Tender Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**Pursuant to the Offer to Purchase Dated June 2, 2025** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BioMarin Pharmaceutical Inc.** 

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M., EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLIER TERMINATED.** 

This Notice of Guaranteed Delivery, or one substantially in the form hereof, must be used to accept the Offer (as defined below) if the certificates for shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation and any other documents required by the Letter of Transmittal (as defined below) cannot be delivered to Computershare Trust Company, N.A., the paying agent for the Offer (the "<u>Paying Agent</u>"), or the procedure for delivery by book-entry transfer cannot be completed, in each case prior to one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless extended or earlier terminated as permitted by the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time). Such form may be delivered by facsimile transmission or mail to the Paying Agent. See Section 3 of the Offer to Purchase (as defined below).

***The Paying Agent for the Offer is:***

**Computershare Trust Company, N.A.** 

<u>If delivering by trackable mail, including</u> <u>overnight delivery or any other expedited service:</u> <u>If delivering by mail:</u>

Computershare Trust Company, N.A. c/o Voluntary Corporate Actions; COY: INZY 150 Royall Street, Suite V Canton, Massachusetts 02021 Computershare Trust Company, N.A. c/o Voluntary Corporate Actions; COY: INZY P.O. Box 43011 Providence, Rhode Island 02940-3011

**DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OR FACSIMILE NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY TO THE PAYING AGENT.**

This Notice of Guaranteed Delivery is not to be used to guarantee signatures. If a signature on a Letter of Transmittal is required to be guaranteed by an "eligible guarantor institution" (as such term is defined in Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>")), under the instructions thereto, such signature guarantee must appear in the applicable space provided in the signature box on the Letter of Transmittal. **Do not send share certificates with this notice. Share certificates should be sent with your Letter of Transmittal.**

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Ladies and Gentlemen:

The undersigned hereby tenders to Incline Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation, upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 2, 2025 (as it may be amended or supplemented from time to time, the "<u>Offer to Purchase</u>") and the related Letter of Transmittal (as it may be amended or supplemented from time to time, the "<u>Letter of Transmittal</u>" and, together with the Offer to Purchase, the "<u>Offer</u>"), receipt of which is hereby acknowledged, the following Shares, pursuant to the guaranteed delivery procedure set forth in Section 3 of the Offer to Purchase.

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| | |
|:---|:---|
|  Number of Shares Tendered: | Name(s) of Record Holder(s) |
| ☐ Check if securities will be tendered by book-entry transfer. | (please print) |
|  Name of Tendering Institution: | Address(es): |
|  | (Zip Code) |
| Account No.: |  |
| Dated: , 2025 |  |
|  | Area Code and Telephone No(s): |
|  | Signature(s): |

---

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**GUARANTEE** 

**(Not to be used for signature guarantee)** 

The undersigned, a financial institution that is a member in good standing of a recognized Medallion Program approved by The Securities Transfer Association, Inc., including the Securities Transfer Agents Medallion Program (STAMP), the Stock Exchange Medallion Program (SEMP) and the New York Stock Exchange, Inc. Medallion Signature Program (MSP), or any other "eligible guarantor institution" (as such term is defined in Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>")), guarantees (a) that the above-named person(s) "own(s)" the Shares tendered hereby within the meaning of Rule 14e-4 under the Exchange Act, (b) that such tender of Shares complies with Rule 14e-4 and (c) the delivery to the Paying Agent of the certificates for all such tendered Shares (or a confirmation of a book-entry transfer of such Shares into the Paying Agent's account at the Book-Entry Transfer Facility (as defined in the Offer to Purchase) in the case of a book-entry delivery), together with a properly completed and duly executed Letter of Transmittal (or a manually signed facsimile thereof) and with any required signature guarantee (or an Agent's Message (as defined in the Offer to Purchase) in the case of a book-entry delivery) and any other required documents, all within one Nasdaq Stock Market trading day of the date hereof.

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| |
|:---|
| (Name of Firm) |
| (Address) |
| (Zip Code) |
| (Authorized Signature) |
| (Name) (Please Print) |
| (Area Code and Telephone Number) |

---

Dated:<u> </u>

**DO NOT SEND CERTIFICATES FOR SHARES WITH THIS NOTICE.** 

**CERTIFICATES FOR SHARES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL.**

## Ex-99.(A)(1)(Vi)

**Exhibit (a)(1)(vi)** 

*This announcement is neither an offer to purchase nor a solicitation of an offer to sell Shares (as defined below). The Offer (as defined below) is made solely pursuant to the Offer to Purchase dated June 2, 2025 and the related Letter of Transmittal and any amendments or supplements thereto and is being made to all holders of Shares. The Offer is not being made to, nor will tenders be accepted from or on behalf of, holders of Shares in any U.S. or foreign jurisdiction in which the making of the Offer or acceptance thereof would not be in compliance with the laws of such jurisdiction. In those jurisdictions where the applicable laws require that the Offer be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Purchaser (as defined below) by one or more registered brokers or dealers licensed under the laws of such jurisdiction to be designated by Purchaser.* 

**Notice of Offer to Purchase for Cash** 

**All Outstanding Shares of Common Stock** 

**of** 

**INOZYME PHARMA, INC.** 

**at** 

**$4.00 Net Per Share** 

**by** 

**INCLINE MERGER SUB, INC.** 

**a wholly-owned subsidiary of** 

**BIOMARIN PHARMACEUTICAL INC.** 

Incline Merger Sub, Inc., a Delaware corporation ("<u>Purchaser</u>") and a wholly-owned subsidiary of BioMarin Pharmaceutical Inc., a Delaware corporation ("<u>Parent</u>"), is offering to acquire all of the outstanding shares of common stock, par value $0.0001 per share (the "<u>Shares</u>"), of Inozyme Pharma, Inc., a Delaware corporation ("<u>Inozyme</u>"), at a purchase price of $4.00 per Share (the "<u>Offer Price</u>"), in cash, without interest, subject to any applicable withholding of taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 2, 2025 (as it may be amended or supplemented from time to time, the "<u>Offer to Purchase</u>") and in the related letter of transmittal (as amended or supplemented from time to time, the "<u>Letter of Transmittal</u>" and which, together with the Offer to Purchase, constitutes the "<u>Offer</u>"). Tendering stockholders whose Shares are registered in their names and who tender directly to Purchaser will not be charged brokerage fees or similar expenses on the sale of Shares for cash pursuant to the Offer. Tendering stockholders whose Shares are registered in the name of their broker, dealer, commercial bank, trust company or other nominee should consult such nominee to determine if any fees may apply. The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of May 16, 2025 (as it may be amended or supplemented from time to time, the "<u>Merger Agreement</u>"), among Inozyme, Parent and Purchaser. Following the consummation of the Offer, and under the terms of the Merger Agreement as described in the Offer to Purchase, Purchaser intends to effect the Merger (defined below) as described below.

**THE OFFER AND WITHDRAWAL RIGHTS EXPIRE ONE MINUTE FOLLOWING 11:59 P.M.,** 

**EASTERN TIME, ON JUNE 30, 2025, UNLESS THE OFFER IS EXTENDED OR EARLIER** 

**TERMINATED.** 

The Merger Agreement provides, among other things, that as soon as practicable following (but in any event on the same day as) the acceptance of the Shares for payment (the "<u>Offer Acceptance Time</u>"), subject to the satisfaction or waiver of the other conditions set forth in the Merger Agreement, Purchaser will merge with and into Inozyme (the "<u>Merger</u>"), with Inozyme continuing as the surviving corporation and a wholly-owned subsidiary of Parent. The effective time of the Merger (being such date and at such time as the certificate of merger in respect of the Merger is duly filed with the Secretary of State of the State of Delaware or at such later time and date as may be agreed upon by the parties to the Merger Agreement in writing and specified in the certificate of merger in accordance with the Delaware General Corporation Law (the "<u>DGCL</u>")) is referred to as the "<u>Merger Effective Time.</u>" As of the Merger

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Effective Time, each outstanding Share (other than (a) Shares held by Inozyme (including Shares held in Inozyme's treasury), (b) Shares held by Parent, Purchaser or any other direct or indirect wholly-owned subsidiary of Parent, (c) Shares validly tendered and irrevocably accepted for purchase in the Offer and (d) Shares outstanding immediately prior to the Merger Effective Time that are held by holders who are entitled to appraisal rights under Section 262 of the DGCL and have properly exercised and perfected their respective demands for appraisal of such Shares in the time and manner provided in Section 262 of the DGCL and, as of the Merger Effective Time, have neither effectively withdrawn nor lost their rights to such appraisal and payment under the DGCL) will receive the price per Share paid in the Offer without interest and subject to any applicable withholding of taxes. The Merger is subject to the satisfaction or waiver of certain conditions described in "The Offer—Section 13—The Transaction Documents—The Merger Agreement" of the Offer to Purchase.

If the Offer is consummated, Purchaser does not anticipate seeking a vote of Inozyme's remaining public stockholders before effecting the Merger. The parties to the Merger Agreement have agreed that, subject to the conditions specified in the Merger Agreement, the Merger will become effective as soon as practicable after the consummation (within the meaning of Section 251(h) of the DGCL) of the Offer, without a vote of Inozyme stockholders, in accordance with Section 251(h) of the DGCL.

The board of directors of Inozyme (the "<u>Inozyme Board</u>"), at a meeting duly called and held, unanimously (a) determined that the Merger Agreement and all of the transactions contemplated by the Merger Agreement, including the Offer and the Merger (the "<u>Transactions</u>"), are advisable, fair to, and in the best interest of, Inozyme and its stockholders, (b) approved the execution, delivery and performance by Inozyme of the Merger Agreement and the consummation of the Transactions, on the terms and subject to the conditions set forth in the Merger Agreement, (c) resolved that the Merger will be effected under Section 251(h) of the DGCL, and (d) resolved to recommend that the holders of Shares tender their Shares to Purchaser pursuant to the Offer.

On the date of the Offer to Purchase, Inozyme will file its Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 (together with any exhibits, amendments or supplements thereto, the "<u>Schedule 14D-9</u>") with the United States Securities and Exchange Commission (the "<u>SEC</u>") and disseminate the Schedule 14D-9 to stockholders of Inozyme with the Offer to Purchase. The Schedule 14D-9 will include a more complete description of the Inozyme Board's reasons for approving the Merger Agreement and the transactions contemplated thereby. Therefore, stockholders of Inozyme are encouraged to review the Schedule 14D-9 carefully and in its entirety.

Purchaser will not be required to accept for payment or (subject to any applicable rules and regulations of the SEC, including Rule 14e-l(c) under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), relating to Purchaser's obligation to pay for or return tendered Shares promptly after termination or withdrawal of the Offer) pay for, and may delay the acceptance for payment or the purchase of any Shares validly tendered (and not validly withdrawn as of immediately prior to the expiration of the Offer), and, to the extent permitted by the Merger Agreement, may terminate the Offer or amend the Offer as otherwise permitted by the Merger Agreement and not accept for payment any tendered Shares: (a) if the Merger Agreement has been terminated in accordance with its terms; and (b) at any scheduled Expiration Date (as defined below) (subject to any extensions of the Offer pursuant to the terms of Merger Agreement), if (i) any of the Minimum Condition, the Termination Condition, the Order Condition, or the Regulatory Condition (each as defined below) have not been satisfied by the Expiration Date or (ii) any of the following conditions have not been satisfied or waived in writing by Parent as of the Expiration Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the number of Shares (a) validly tendered (and not validly withdrawn) prior to the Expiration Date and
(b) otherwise beneficially owned by Parent or Purchaser (or any wholly-owned subsidiary of Parent or Purchaser), if any, collectively represent at least one Share more than 50% of the then-issued and outstanding Shares as of the expiration of
the Offer (excluding any Shares tendered pursuant to guaranteed delivery procedures that have not yet been "received" (as such term is defined in Section 251(h)(6)(f) of the DGCL)) (the " <u>Minimum Condition</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the representations and warranties of Inozyme as set forth in the Merger Agreement are true and correct, subject
to applicable materiality and other qualifiers as set forth in the Merger Agreement (the " <u>Representations Condition</u> ");

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inozyme having complied with, or performed, in all material respects all of Inozyme's covenants and
agreements it is required to comply with or perform at or prior to the Offer Acceptance Time (the " <u>Obligations Condition</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• since the date of the Merger Agreement, there will not have occurred any Material Adverse Effect (as defined in
the Merger Agreement and described in more detail in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase) that is continuing as of the Offer Acceptance Time (the " <u>MAE Condition</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the waiting period (or any extension thereof) applicable to the Offer under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 and any timing agreement with any governmental body has expired or been terminated (the " <u>Regulatory Condition</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Parent and Purchaser having received a certificate executed on behalf of Inozyme by Inozyme's Chief
Executive Officer or its Chief Financial Officer confirming that the Representations Condition, the Obligations Condition and the MAE Condition have been duly satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• there not having been issued by any court of competent jurisdiction or remaining in effect any temporary,
preliminary or permanent order preventing the acquisition of or payment for Shares pursuant to the Offer, nor any law or order promulgated, entered, enforced, enacted, issued or deemed applicable to the Offer or the Merger by any governmental body
of competent jurisdiction that remains in effect that directly or indirectly enjoins, restrains or otherwise prohibits, or makes illegal, the acquisition of or payment for Shares pursuant to the Offer, or the consummation of the Merger (the
" <u>Order Condition</u> "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Merger Agreement not having been terminated in accordance with its terms (the " <u>Termination Condition</u> ").

These conditions to the Offer (the "<u>Offer Conditions</u>") are described in "The Offer—Section 15—Conditions to the Offer" of the Offer to Purchase.

Purchaser also has the right, to the extent permitted by applicable law, to (a) increase the Offer Price, (b) waive any Offer Condition other than the Minimum Condition, the Termination Condition, the Order Condition or the Regulatory Condition and (c) make any other changes in the terms and conditions of the Offer not inconsistent with the terms of the Merger Agreement. However, without Inozyme's prior written consent, Purchaser is not permitted to (a) decrease the Offer Price, (b) change the form of consideration payable in the Offer, (c) decrease the maximum number of Shares sought to be purchased in the Offer, (d) impose any conditions or requirements to the Offer in addition to the Offer Conditions, (e) amend, modify or supplement any of the terms of the Offer in a manner that adversely affects, or would reasonably be expected to adversely affect, any holder of Shares or that would, individually or in the aggregate, reasonably be expected to prevent or delay the consummation of the Offer or prevent, delay or impair the ability of Parent or Purchaser to consummate the Offer, the Merger or the other Transactions, (f) amend, modify, change or waive the Minimum Condition the Termination Condition, the Order Condition or the Regulatory Condition, (g) terminate or withdraw the Offer (unless the Merger Agreement is validly terminated in accordance with its terms) or accelerate, extend or otherwise change the Expiration Date, except in accordance with the terms of the Merger Agreement provide any "subsequent offering period" within the meaning of Rule 14d-11 promulgated under the Exchange Act or (h) take any action (or fail to take any action) that would result in the Merger not being permitted to be effected pursuant to Section 251(h) of the DGCL.

Upon the terms and subject to Offer Conditions, Purchaser will accept for payment and pay for all Shares that are validly tendered and not validly withdrawn pursuant to the Offer. The initial expiration date of the Offer is one minute following 11:59 p.m., Eastern Time, on June 30, 2025, unless extended or earlier terminated as permitted by the Merger Agreement (such date or such subsequent date to which the expiration of the Offer is extended in accordance with the Merger Agreement, the "<u>Expiration Date</u>"). A "subsequent offering period" for the Offer is not contemplated.

Pursuant to the terms of the Merger Agreement, if, at the then-scheduled Expiration Date, any of the Offer Conditions have not been satisfied or waived then, Purchaser will, and Parent will require Purchaser to, extend the Offer on one or more occasions (in consecutive increments), for an additional period of up to ten (10) business days per extension, to permit such Offer Condition to be satisfied. Purchaser will, and Parent will require Purchaser to, extend the Offer from time to time for the minimum period required by applicable law, any interpretation or position of the SEC or its staff or the Nasdaq Stock Market LLC or its staff, applicable to the Offer.

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In no event will Purchaser or Parent (a) be required to extend the Offer beyond the earliest to occur of (the "<u>Extension</u> <u>Deadline</u>") (i) the valid termination of the Merger Agreement and (ii) the first business day immediately following midnight Eastern Time on November 16, 2025, which date may be extended by Parent or Inozyme for an additional three months if the Regulatory Condition has not been satisfied at such time, or (b) be permitted to extend the Offer beyond the Extension Deadline without the prior written consent of Inozyme. Purchaser will not, and Parent will not permit Purchaser to, extend the Offer in any manner except as required or expressly permitted as set forth in this paragraph.

Any extension, termination or amendment of the Offer will be followed as promptly as practicable by a public announcement thereof. Without limiting the manner in which we may choose to make any public announcement, we will have no obligation (except as otherwise required by applicable law) to publish, advertise or otherwise communicate any such public announcement other than by issuing a press release to a national news service. In the case of an extension of the Offer, we will make a public announcement of such extension no later than 9:00 a.m., Eastern Time, on the next business day after the previously scheduled Expiration Date.

In order to take advantage of the Offer, you must either (a) complete and sign the Letter of Transmittal in accordance with the instructions in the Letter of Transmittal, have your signature guaranteed (if required by Instruction 1 to the Letter of Transmittal), mail or deliver the Letter of Transmittal (or a manually signed facsimile copy) and any other required documents to Computershare Trust Company, N.A., the paying agent for the Offer (the "<u>Paying Agent</u>"), and either deliver the certificates for your Shares along with the Letter of Transmittal to the Paying Agent or tender your Shares pursuant to the procedures for book-entry transfer set forth in "The Offer—Section 3—Procedures for Tendering Shares" of the Offer to Purchase or (b) request your broker, dealer, commercial bank, trust company or other nominee to effect the transaction for you. If your Shares are registered in the name of a broker, dealer, commercial bank, trust company or other nominee, you must contact such broker, dealer, commercial bank, trust company or other nominee to tender your Shares. If you wish to tender Shares pursuant to the Offer and cannot deliver such Shares and all other required documents to the Paying Agent or cannot complete the procedure for delivery by book-entry transfer described in "The Offer—Section 3—Procedures for Tendering Shares" of the Offer to Purchase, in each case prior to the Expiration Date, you may tender your Shares by following the procedures for guaranteed delivery set forth in "The Offer—Section 3—Procedures for Tendering Shares" of the Offer to Purchase.

For purposes of the Offer, Purchaser will be deemed to have accepted for payment Shares tendered when, as and if Purchaser gives oral or written notice of Purchaser's acceptance to the Paying Agent. Purchaser will pay for Shares accepted for payment pursuant to the Offer by deposit of the purchase price therefor with the Paying Agent, which will act as agent for tendering stockholders for the purpose of receiving payments and transmitting such payments to tendering stockholders. Under no circumstances will Purchaser pay interest on the consideration paid for Shares pursuant to the Offer, regardless of any extension of the Offer or any delay in making such payment.

Except as otherwise provided in "The Offer—Section 4—Withdrawal Rights" of the Offer to Purchase, tenders of Shares made in the Offer are irrevocable. You may withdraw some or all of the Shares that you have previously tendered in the Offer at any time before the Expiration Date and, if such Shares have not yet been accepted for payment as provided herein, any time after August 1, 2025, which is 60 days from the date of the commencement of the Offer.

If Purchaser extends the period of time during which the Offer is open, is delayed in accepting for payment or paying for Shares or is unable to accept for payment or pay for Shares pursuant to the Offer for any reason, then, without prejudice to Purchaser's rights under the Offer, the Paying Agent may, on Purchaser's behalf, retain all Shares tendered, and such Shares may not be withdrawn except to the extent that you duly exercise withdrawal rights as described in "The Offer—Section 4—Withdrawal Rights" of the Offer to Purchase.

For your withdrawal to be effective, a written or facsimile transmission notice of withdrawal with respect to the Shares must be timely received by the Paying Agent at one of its addresses set forth on the back cover of the Offer to Purchase, and the notice of withdrawal must specify the name of the person who tendered the Shares to be withdrawn, the number of Shares to be withdrawn and the name of the registered holder of Shares, if different from that of the person

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who tendered such Shares. If the Shares to be withdrawn have been delivered to the Paying Agent, a signed notice of withdrawal with (except in the case of Shares tendered by an Eligible Institution (as defined in the Offer to Purchase)) signatures guaranteed by an Eligible Institution must be submitted before the release of such Shares. In addition, such notice must specify, in the case of Shares tendered by delivery of certificates, the serial numbers shown on the specific certificates evidencing the Shares to be withdrawn or, in the case of Shares tendered by book-entry transfer, the name and number of the account at the Book-Entry Transfer Facility (as defined in the Offer to Purchase) to be credited with the withdrawn Shares. Withdrawals may not be rescinded, and Shares withdrawn will thereafter be deemed not validly tendered. However, withdrawn Shares may be retendered at any time before the Expiration Date by again following any of the procedures described in the Offer to Purchase.

**Subject to applicable law as applied by a court of competent jurisdiction, Purchaser will determine, in its sole discretion, all questions as to the form of documents and the validity, eligibility (including time of receipt) and acceptance for payment of any tender of Shares, and its determination will be final and binding.** 

In general, your exchange of Shares for cash pursuant to the Offer will be a taxable transaction for U.S. federal income tax purposes and may also be a taxable transaction under applicable state, local or non-U.S. income or other tax laws. You should consult your tax advisor about the tax consequences to you of exchanging your Shares pursuant to the Offer in light of your particular circumstances. See "The Offer—Section 5—Material U.S. Federal Income Tax Consequences" of the Offer to Purchase for a more detailed summary of the material U.S. federal income tax consequences of the sale of Shares in the Offer.

The information required to be disclosed by paragraph (d)(1) of Rule 14d-6 promulgated under the Exchange Act is contained in the Offer to Purchase and is incorporated herein by reference.

Inozyme has provided Purchaser with its stockholder list, security position listings and certain other information regarding the beneficial owners of Shares for the purpose of disseminating the Offer to holders of Shares. The Offer to Purchase, the related Letter of Transmittal and other related materials will be mailed to record holders of Shares and will be furnished to brokers, dealers, commercial banks, trust companies and other nominees whose names appear on Inozyme's stockholder list or, if applicable, who are listed as participants in a clearing agency's security position listing for subsequent transmittal to beneficial owners of Shares.

**The Offer to Purchase and the related Letter of Transmittal contain important information that should be read carefully before any decision is made with respect to the Offer.** 

Questions and requests for assistance and copies of the Offer to Purchase, the Letter of Transmittal and all other tender offer materials may be directed to the Information Agent, at its address and telephone numbers set forth below and will be furnished promptly at Purchaser's expense. Neither Parent nor Purchaser will pay any fees or commissions to any broker or dealer or any other person (other than to the Information Agent and the Paying Agent, as described in the Offer to Purchase) in connection with the solicitation of tenders of Shares pursuant to the Offer. Brokers, dealers, commercial banks, trust companies and other nominees will, upon request, be reimbursed by Purchaser for reasonable and necessary costs and expenses incurred by them in forwarding materials to their customers.

*The Information Agent for the Offer is:*![LOGO](g942767g0531054342787.jpg)

501 Madison Avenue, 20th Floor

New York, NY 10022

**Call Toll-Free (877) 687-1871 from the United States and Canada or +1 (412) 232-3651 from other countries.** 

June 2, 2025

## Ex-99.(D)(3)

**Exhibit (d)(3)** 

**MUTUAL NON-DISCLOSURE AGREEMENT** 

This Mutual Non-Disclosure Agreement (the "**Agreement**"), is effective as of May 8, 2024 (the "**Effective Date"),** and is made by and between BioMarin Pharmaceutical Inc. ("**BioMarin**"), a Delaware corporation located at 105 Digital Drive, Novato, CA 94949 and Inozyme Pharma, Inc., a Delaware corporation, located at 321 Summer Street, Boston, MA 02210 **("Provider")**. Each of BioMarin and Provider may be referred to herein as a "**Party**" or collectively as the "**Parties**." In the capacity of disclosing information, each Party is referred to as the "**Disclosing Party,"** and in the capacity of receiving information, each Party is referred to as the "**Receiving Party.**".

WHEREAS, the Parties, for their mutual benefit, desire to disclose certain confidential information to one another in order to evaluate a potential business or collaborative relationship.

NOW, THEREFORE, in consideration of the premises and covenants contained herein, the Parties agree as follows:

**1. <u>Purpose</u>.** The Parties have entered into this Agreement to facilitate the transfer of information between them and/or one or more of its Affiliates in order for the Parties to evaluate whether or not to pursue or expand a relationship with each other, which may include, without limitation, a relationship relating to BioMarin's and/or Provider's pipeline, clinical and/or commercialized therapy programs (the "**Purpose**"), and solely for that Purpose, the Parties have disclosed or may disclose to each other information that is proprietary and/or confidential to the Disclosing Party which it desires be treated as confidential. For purposes of this Agreement, with respect to a Party, "**Affiliate**" shall mean a person or business entity that directly or indirectly controls or is controlled by, or is under common control with, such Party. The term "**control**," including the terms "**controlled by"** or "**under common control with,"** means the possession of, directly or indirectly, the capability to control the direction of the management and policies through the ownership of voting securities.

**2. <u>Confidential Information</u>.** As used herein, "**Confidential Information"** shall mean any and all information, whether tangible or intangible, disclosed or provided by Disclosing Party and/or one or more of its Affiliates or designees to Receiving Party and/or one or more of its Affiliates in written, oral or electronic form, and any other non-public information, whether scientific, preclinical, clinical, regulatory, commercial or financial in nature, relating directly or indirectly to the business of the Disclosing Party in connection with the Purpose. Confidential Information will be deemed to include, without limitation, information that can be reasonably determined to be the confidential and proprietary information of Disclosing Party, given the nature of the information and the circumstances of disclosure. However, information marked as "Confidential" (or other word of import) shall conclusively be determined as intended by Disclosing Party to be considered Confidential Information. Further, Confidential Information includes but is not limited to:

**(a)** any material that is or has been prepared by or for the Receiving Party or the Receiving Party's Representatives and that contains, reflects, interprets or is based directly or indirectly upon any Confidential Information provided by Disclosing Party; and

**(b)** the terms of this Agreement,

------

**(c)** the fact that discussions or negotiations are or may be taking place involving the Parties with respect to the Purpose.

**3. <u>Term</u>.** This Agreement commences as of the Effective Date and ends on the date three (3) years thereafter. Notwithstanding the foregoing, Receiving Party's obligations to protect Confidential Information disclosed under this Agreement shall survive expiration of this Agreement and will be binding upon Receiving Party, its heirs, successors, and assigns for a period of five (5) years from expiration of this Agreement.

**4. <u>Treatment of Confidential Information</u>.** 

**(a) <u>Use; Disclosure</u>.** The Receiving Party shall use the Confidential Information solely for the Purpose defined above and no other purpose without the express written permission of the Disclosing Party. The Receiving Party shall disseminate Confidential Information only to those of the Receiving Party's and its Affiliates' employees, consultants, and/or independent contractors (including but not limited to advisors, auditors, and attorneys) (collectively, "**Receiving Party's Representatives")** on a "need to know" basis in order for Receiving Party to carry out the Purpose. The Receiving Party warrants that all of Receiving Party's Representatives granted access to Confidential Information shall be advised of the confidential nature of the information received and of the Receiving Party's obligations to protect Confidential Information under this Agreement. The Receiving Party warrants all of Receiving Party's Representatives with access to Confidential Information shall either be bound to an obligation of confidentiality as a condition of employment or bound by written obligations of confidentiality no less stringent than those set forth in this Agreement. A breach of the confidentiality or non-use obligations set forth in this Agreement by Receiving Party's Representatives shall be deemed a breach by Receiving Party. The Receiving Party agrees to notify the Disclosing Party immediately in writing upon any loss, misuse, misappropriation, or other unauthorized disclosure of the Confidential Information that may come to the Receiving Party's attention.

**(b) <u>Degree of Care</u>.** The Receiving Party shall hold the Confidential Information in strict confidence, and shall take all reasonable precautions to protect the Confidential Information at all times from unauthorized disclosure, publication, or use, including, without limitation, (i) using industry standard secure method when transmitting Confidential Information (including transmitting over a network with industry standard technical safeguards designed to provide appropriate protection), (ii) ensuring that no Confidential Information is comingled with any other party's information and (iii) using at least the same degree of care as it employs to protect its own Confidential Information of like nature (but in any event no less than a reasonable degree of care), acting in a manner consistent with its obligations under this Agreement.

**(c) <u>Exclusions</u>.** The confidentiality, non-disclosure and non-use obligations of this Agreement shall not apply to Confidential Information disclosed to the Receiving Party that: (i) was in the Receiving Party's possession prior to receipt hereunder, as evidenced by written records (ii) is independently developed by the Receiving Party without the use of the Confidential Information, as evidenced by written records; (iii) is or becomes publicly available through no fault of the Receiving Party; or (iv) is received by the Receiving Party on a non-confidential basis from a third party without breach of a duty of confidentiality. As used herein, the term "publicly available" shall mean that such information is readily accessible to the general public in a written publication or other form of recording that may be obtained without assuming obligations of confidentiality and that is not obtained through a third party's breach of a duty of confidentiality. "Publicly available" shall not mean information the substance of which must be pieced together from a number of different publications or other sources.

------

**(d) <u>Legally Required Disclosures</u>.** Nothing in this Agreement shall preclude the Receiving Party from making any disclosure of Confidential Information that is required by applicable law or regulation, or by a valid order of a court or other governmental body having jurisdiction, provided that the Receiving Party uses its best efforts to limit the scope of the required disclosure, provides notification to the Disclosing Party as soon as the Receiving Party becomes aware of such requirement, and cooperates with the Disclosing Party in seeking an appropriate protective order, confidential treatment, or similar remedy limiting the subsequent use and disclosure of any information required to be disclosed.

**(e) <u>No Obligation to Proceed</u>.** Nothing herein shall obligate either Party to proceed with any transaction between them, and each Party reserves the right, in its sole discretion, to terminate the discussions contemplated by this Agreement. This Agreement does not require either Party to disclose any particular Confidential Information.

**(f) <u>Destruction of Materials</u>.** Promptly upon a request by Disclosing Party at any time to destroy Confidential Information, Receiving Party will promptly turn over to Disclosing Party or destroy all Confidential Information of Disclosing Party and all documents, media, and other tangible materials containing any such Confidential Information and any and all extracts thereof. Notwithstanding the foregoing, Receiving Party shall not be required to purge Confidential Information from its computer system's historical back-up media and shall be permitted to retain one (1) copy of written Confidential Information for the purpose of maintaining compliance and continuing obligations under this Agreement, provided that such Confidential Information that is retained will remain subject to the terms of this Agreement.

**(g) <u>No Transfer or License</u>.** Nothing in this Agreement is intended to grant or transfer any right to a Party under any patent, copyright or other intellectual property right of the other Party, nor shall this Agreement grant or transfer to the Receiving Party any right in or to the Confidential Information except as expressly set forth herein. None of the Confidential Information which may be disclosed by Disclosing Party shall constitute any representation, warranty, assurance, guarantee or inducement by Disclosing Party to Receiving Party, including, without limitation, with respect to the accuracy of the Confidential Information and non-infringement of intellectual property rights.

**5. <u>Miscellaneous</u>.** 

**(a) <u>Use of Names; Publicity</u>.** Except as otherwise provided herein, nothing contained in this Agreement shall be construed as conferring any right on a Party to use in any manner the other Party's name, including any trade name or trademark, or in a manner reasonably likely to identify such other Party without the prior written consent of the other Party, which may be withheld in the other Party's sole and absolute discretion, except as necessary to comply with applicable law or regulations.

**(b) <u>Assignment</u>.** A Party shall not transfer or assign any rights or obligations under this Agreement without the prior written consent of the other Party, which consent may be given or withheld in such other Party's sole and absolute discretion.

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**(c) <u>Severability</u>.** If any provision of this Agreement should be held invalid or unenforceable, the remaining provisions shall be unaffected and shall remain in full force and effect, to the extent consistent with the intent of the parties as evidenced by this Agreement as a whole.

**(d) <u>Waivers</u>.** All waivers shall be in writing and signed by the Party to be charged. Any waiver or failure to enforce any provision of this Agreement on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion.

**(e) <u>Notices</u>.** All notices or reports permitted or required under this Agreement will be in writing and will be sent by personal delivery or reputable expedited delivery service with signature required. All such notices or reports will be deemed given upon receipt. Notices shall be addressed and sent to the Party concerned at the addresses set forth below in this Section or such other addresses as either Party may subsequently specify in writing to the other Party.

---

| | |
|:---|:---|
|  Notices to BioMarin shall be sent to: | Notices to Provider shall be sent to: |
|  BioMarin Pharmaceutical Inc. | Inozyme Pharma, Inc. |
|  105 Digital Drive | 321 Summer Street |
|  Novato, CA 94949 | Boston, MA 02210 |
|  Attn: Chief Legal Officer | Attn: Legal |

---

**(f) <u>Governing Law; Venue</u>.** This Agreement is made under and shall be construed according to the laws of California without regard to any conflict of law principles that would provide for the application of the law of another jurisdiction. Any disputes under this Agreement shall be brought in the state courts and the Federal courts located in the Northern District of California and the Parties hereby consent to the personal jurisdiction and exclusive venue of these courts.

**(g) <u>Equitable/Injunctive Relief</u>.** Receiving Party agrees that disclosure of Confidential Information without the express written permission of Disclosing Party will cause Disclosing Party irreparable harm and that any breach or threatened breach of this Agreement by Receiving Party will entitle Disclosing Party to seek injunctive relief, in addition to any other legal and/or equitable remedies available to it. Notwithstanding the requirements of **Section 5(f)** (Governing Law; Venue), Disclosing Party may seek equitable relief in any court of competent jurisdiction.

**(h) <u>Independence</u>.** The Parties do not intend that any agency or partnership relationship be created between them by this Agreement.

**(i) <u>Entire Agreement; Amendment</u>.** This Agreement constitutes the final, complete and exclusive agreement of the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, communications, negotiations or understandings between the Parties with respect to the matters addressed herein. No modification of or amendment to this Agreement will be effective unless in writing and signed by all Parties.

**(j) <u>Counterparts</u>.** This Agreement may be executed in one or more counterparts (including by .pdf), each of which shall constitute an original and all of which, when taken together, shall constitute one agreement.

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**IN WITNESS WHEREOF,** the Parties hereto, intending to be legally bound hereby, have caused this Non-Disclosure Agreement to be executed and delivered by their proper and duly authorized officers effective as of the Effective Date.

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| | | | |
|:---|:---|:---|:---|
| **INOZYME PHARMA, INC.** | **INOZYME PHARMA, INC.** | **BIOMARIN PHARMACEUTICAL INC.** | **BIOMARIN PHARMACEUTICAL INC.** |
|  By: | /s/ Sanjay Subramanian | By: | /s/ Brinda Balakrishnan |
| Name: | Sanjay Subramanian | Name: | Brinda Balakrishnan |
| Title: | Chief Financial Officer | Title: | EVP, Chief Corp Strategy & BD Officer |
| Date: | 16-May-2024 | Date: | 16-May-2024 |

---

## Ex-99.(D)(4)

**Exhibit (d)(4)** 

BioMarin Pharmaceutical Inc.

105 Digital Drive

Novato, California 94949

May 10, 2025

Inozyme Pharma, Inc.

321 Summer Street, Suite 400

Boston, MA 02210

Attention: Board of Directors

---

| | |
|:---|:---|
| **Re:** | **Project Ingrid - Exclusivity**  |

---

Ladies and Gentlemen:

BioMarin Pharmaceutical Inc. ("<u>Purchaser</u>") and Inozyme Pharma, Inc. (the "<u>Company</u>") wish to continue to engage in negotiations regarding a possible strategic transaction involving Purchaser and the Company (a "<u>Possible Transaction</u>"). In order to induce Purchaser to continue negotiations with the Company regarding a Possible Transaction (and in recognition of the time and effort that Purchaser has expended and may expend and the expenses that Purchaser may incur in pursuing these negotiations), the Company, intending to be legally bound, agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company acknowledges and agrees that, until the earlier of the end of the Exclusivity Period (as defined in
paragraph 5) or the date on which Purchaser advises the Company in writing that Purchaser is terminating negotiations regarding a Possible Transaction, the Company will not, and will not permit any of its Representatives (as defined in paragraph 5)
to, directly or indirectly:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. solicit, induce or knowingly facilitate or encourage the initiation, making, submission or announcement of any
expression of interest, inquiry, proposal or offer from any person or entity (other than Purchaser and its Representatives acting on its behalf) relating to a possible Acquisition Transaction (as defined in paragraph 5);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. participate in any discussions or negotiations with, or provide any information to, any person or entity (other
than Purchaser and its Representatives acting on its behalf) relating to a possible Acquisition Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. respond to or accept any proposal or offer from any person or entity (other than Purchaser and its
Representatives acting on its behalf) relating to a possible Acquisition Transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. approve or authorize any Acquisition Transaction or enter into any letter of intent or similar document or any
agreement contemplating or otherwise relating to any Acquisition Transaction with any person or entity (other than Purchaser and its Representatives acting on its behalf).

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Company acknowledges and agrees that, in addition to all other remedies available (at law or otherwise) to
Purchaser, Purchaser shall be entitled to equitable relief (including injunction and specific performance) as a remedy for any breach or threatened breach of any provision of this letter agreement. The Company further acknowledges and agrees that
Purchaser shall not be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this paragraph 2, and the Company waives any right it may have to require that
Purchaser obtain, furnish or post any such bond or similar instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Nothing in this letter agreement shall be construed as an obligation of either of the parties hereto or any of
their affiliates to enter into definitive documentation regarding the Possible Transaction or to consummate the Possible Transaction or any other transaction. The existence and terms of this letter agreement and the status of the discussions between
the parties hereto shall be subject to the provisions of the Confidentiality Agreement between the Company and Purchaser, dated as of May 8, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. This letter agreement shall be governed by and construed in accordance with the laws of the State of Delaware
(without giving effect to principles of conflicts of laws). Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Court of Chancery of the State of Delaware, or,
if (and only if) such court finds it lacks jurisdiction, the Federal court of the United States of America sitting in Delaware, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this letter agreement
or for recognition or enforcement of any judgment relating thereto, and each of the parties hereby irrevocably and unconditionally (a) agrees not to commence any such action or proceeding except in the Court of Chancery of the State of
Delaware, or, if (and only if) such court finds it lacks jurisdiction, the Federal court of the United States of America sitting in Delaware, and any appellate court from any thereof; (b) agrees that any claim in respect of any such action or
proceeding may be heard and determined in the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks jurisdiction, the Federal court of the United States of America sitting in Delaware, and any appellate court
from any thereof; (c) waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any such action or proceeding in such courts; and (d) waives, to the
fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in such courts. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable law. Each party hereto irrevocably consents to service of process inside or outside the territorial jurisdiction of the
courts referred to in this paragraph 4 by U.S. mail addressed to the address of such party set forth at the beginning of this letter agreement or on the signature page hereto. Nothing in this letter agreement will affect the right of any party
hereto to serve process in any other manner permitted by applicable law.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. For purposes of this letter agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. A party's " <u>Representatives</u> " shall include its affiliates and its and its affiliates'
officers, directors, employees, attorneys, advisors, accountants, financial advisors, bankers, contractors, agents, financing sources and other representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. " <u>Acquisition Transaction</u> " shall mean any transaction involving:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the sale, license, disposition or acquisition of all or a material portion of the business or assets of the Company and its subsidiaries (on a consolidated basis);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the entry into a material licensing or commercial arrangement outside the ordinary course of business of the Company (in dollar value, terms, scope or otherwise) which would reasonably be expected to impact the ability or desire of either party to complete a Possible Transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the issuance, grant, disposition or acquisition of (A) any material amount of capital stock or other equity securities of the Company or any "significant subsidiary" (as defmed in Regulation S-X promulgated under the Securities Act of 1933, as amended) of the Company (each, a "<u>Significant Subsidiary</u>"), (B) any option, call, warrant or right (whether or not immediately exercisable) to acquire any material amount of capital stock or other equity securities of the Company or any Significant Subsidiary, or (C) any security, instrument or obligation that is or may become convertible into or exchangeable for any material amount of capital stock or other equity securities of the Company or any Significant Subsidiary (excluding, in each case, the exercise of employee stock options in the ordinary course of business); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any merger, consolidation, business combination, share exchange, reorganization, recapitalization or similar transaction involving the Company or any Significant Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. " <u>Exclusivity Period</u> " shall mean the period commencing upon execution of this letter agreement
and ending at 11:59 p.m., Pacific time, on May 12, 2025, <u>provided</u> that the Exclusivity Period shall automatically and successively be extended by 24 hours without further action of either party if neither party provides notice of
termination by 5:00 p.m., Pacific time, on the then-current expiration date of the Exclusivity Period.

Please confirm your agreement to the terms set forth in this letter agreement by signing below. This letter agreement may be executed in any number of counterparts (including via facsimile, .pdf or other electronic means), each of which shall be an original as regards any party whose signature appears thereon and all of which together shall constitute one and the same instrument. This letter agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all parties reflected hereon as signatories.

------

---

| | |
|:---|:---|
|  Very truly yours, | Very truly yours, |
|  BioMarin Pharmaceutical Inc. | BioMarin Pharmaceutical Inc. |
|  By: | /s/ James Sabry |
|  Name: James Sabry | Name: James Sabry |
|  Title: EVP and Chief Business Officer | Title: EVP and Chief Business Officer |

---

---

| | |
|:---|:---|
|  ACKNOWLEDGED AND AGREED: | ACKNOWLEDGED AND AGREED: |
|  Inozyme Pharma, Inc. | Inozyme Pharma, Inc. |
|  By: | /s/ Douglas A. Treco |
|  Name: | Douglas A. Treco, Ph.D. |
|  Title: | Chief Executive Officer |

---

[Signature Page to Exclusivity Agreement]

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

Exhibit 107

Calculation of Filing Fee Tables

Schedule TO-T

(Rule 14d-100)

INOZYME PHARMA, INC.

(Name of Subject Company (Issuer))

INCLINE MERGER SUB, INC.

a wholly owned subsidiary of

BIOMARIN PHARMACEUTICAL INC.

(Names of Filing Persons (Offerors))

Table 1-Transaction Valuation

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| | | | |
|:---|:---|:---|:---|
|  | Transaction Valuation<sup>(1)</sup> | Fee Rate | Amount of Filing Fee<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp; Fees to Be Paid | $270105990.16 | 0.00015310 | $41353.23 |
| &nbsp;&nbsp;&nbsp; Fees Previously Paid | $0 |  | $0 |
| &nbsp;&nbsp;&nbsp; Total Transaction Valuation | $270105990.16 |  |  |
| &nbsp;&nbsp;&nbsp; Total Fees Due for Filing |  |  | $41353.23 |
| &nbsp;&nbsp;&nbsp; Total Fees Previously Paid |  |  | $0 |
| &nbsp;&nbsp;&nbsp; Total Fee Offsets |  |  | $0 |
| &nbsp;&nbsp;&nbsp; Net Fee Due |  |  | $41353.23 |

---

(1) Estimated solely for purposes of calculating the amount of the filing fee only. The transaction valuation was calculated by adding (i) the product of (A) 64,915,697 shares of common stock, par value $0.0001 per share (the "Shares") of Inozyme Pharma, Inc., a Delaware corporation ("Inozyme"), issued and outstanding, and (B) the offer price of $4.00 per Share (the "Offer Price"), (ii) the product of (A) 4,145,049 Shares subject to issuance pursuant to stock options granted and outstanding having a per share exercise price that is less than the Offer Price and (B) $1.84, which is the difference between the Offer Price and $2.16, the weighted average exercise price of such options, (iii) the product of (A) 566,400 issued and outstanding restricted stock units with respect to Shares, and (B) the Offer Price, and (iv) the product of (A) 137,678 Shares which are estimated to be subject to outstanding purchase rights under the ESPP assuming the ESPP ends June 30, 2025 and (B) the Offer Price. The foregoing share figures have been provided by Inozyme and are as of May 29, 2025, the most recent practicable date.

(2) The amount of the filing fee was calculated in accordance with Rule 0-11 of the Securities Exchange Act of 1934, as amended, and Section 6(b) Fee Rate Advisory #1 for fiscal year 2025 beginning on October 1, 2024, issued August 20, 2024, by multiplying the transaction value by 0.00015310.