Document:

EX-10.31

 Exhibit 10.31 

THE WARRANT EVIDENCED HEREBY, AND THE SECURITIES ISSUABLE HEREUNDER, HAVE BEEN AND SHALL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), OR THE APPLICABLE STATE SECURITIES LAWS. THE WARRANT AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND SHALL NOT BE SOLD, TRANSFERRED, PLEDGED OR
HYPOTHECATED UNLESS THE PROPOSED DISPOSITION IS THE SUBJECT OF A CURRENTLY EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE
REASONABLY SATISFACTORY TO THE COMPANY, TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT AND SUCH STATE SECURITIES LAWS IN CONNECTION WITH SUCH DISPOSITION. 

THIS WARRANT, AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT, ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS SET FORTH IN THIS
WARRANT. 
 YUMANITY HOLDINGS, LLC 

COMMON UNIT WARRANT 

Original Issue Date: August 14, 2015 

Void After: 5 PM Pacific Time on August 14, 2025 

This Warrant Is Issued to 
 N.
ANTHONY COLES 
 (hereinafter called the “Holder,” which term shall include the Holder’s permitted assigns) by Yumanity Holdings, LLC,
a Delaware limited liability company (hereinafter referred to as the “Company”). This Common Unit Warrant (“Warrant”) may be transferred by the Holder only in accordance with the provisions of Section 11. 

This Warrant is being issued as one of a series of warrants (collectively, the “Warrants”) pursuant to the terms of the Bridge Unit and
Bridge Warrant Purchase Agreement, dated as of August 14, 2015, by and among the Company and the purchasers a party thereto, as amended, restated and/or otherwise modified from time to time, and a series of Exchange Agreements, each dated as of
August 14, 2015, by and among the Company and the other parties thereto, as amended, restated and/or otherwise modified from time to time. Capitalized terms not otherwise defined herein shall have the meaning given to such terms in the
Amended and Restated Operating Agreement of the Company, as amended, restated and/or otherwise modified from time to time (the “Operating Agreement”). 

The Company hereby certifies that, for value received, the Holder is entitled, subject to the terms and conditions set forth in this Warrant, to purchase from
the Company by exercising this Warrant, at any time on or after the closing of the Qualified Financing and in any event not after the Expiration Time, up to that number of Common Units equal to (i) 193,588 divided by (ii) the lowest per share
price at which each Qualified Financing Security (as defined in the Operating Agreement) is sold for cash in the next Qualified Financing, at an initial purchase price per Common Unit equal to the Bridge Conversion Price. The number of Common Units
and the purchase price thereof shall be adjusted or readjusted from time to time as 

  
 1 

 
provided in this Warrant (as so adjusted, the “Warrant Units” and the “Exercise Price”, respectively).“Expiration Time” means 5pm Boston
time on the tenth anniversary of the Effective Date. 
 1. Exercise of Warrant. The Holder may exercise this Warrant, in whole or in
part (except as to a fractional Common Unit), during the period beginning on the closing of the Qualified Financing and ending at the Expiration Time, by (i) delivering a subscription agreement, in the form attached hereto as
Exhibit A (the “Subscription Form”), duly executed by the Holder, specifying the number of Warrant Units to be issued to the Holder as a result of such exercise, (ii) surrendering this Warrant to the
Company, properly endorsed by the Holder (or if this Warrant has been destroyed, stolen or has otherwise been misplaced, by delivering to the Company an affidavit of loss duly executed by the Holder), and (iii) tendering payment for the Common
Units designated by the Subscription Form in lawful money of the United States in the form of cash, bank or certified check made payable to the order of the Company, or by wire transfer of immediately available funds, or in any combination thereof,
of the applicable Exercise Price as to which this Warrant is being exercised. 
 2. Net Exchange. The Holder may, in lieu of
exercising this Warrant pursuant to the terms of Section 1, elect to exchange this Warrant at any time beginning on the closing of the Qualified Financing and ending at the Expiration Time by delivering to the Company a written notice, in the
form attached hereto as Exhibit B (the “Exchange Notice”), duly executed by the Holder, specifying the number of Warrant Units it, he or she is requesting to be issued to the Holder as a result of such
exchange. The Holder shall thereupon be entitled to receive the number of Warrant Units equal to the product of (i) the number of Warrant Units issuable upon exercise of this Warrant (or, if only a portion of this Warrant is being exercised,
issuable upon the exercise of such portion) for cash, and (ii) a fraction, the numerator of which is the Fair Market Value at the time of such exercise minus the Exercise Price in effect at the time of such exercise, and the denominator
of which is the Fair Market Value at the time of such exercise, such number of Common Units so issuable upon such exchange to be rounded down to the nearest whole number of Common Units with any excess to be forfeited by the Holder. For all purposes
of this Warrant (other than Section 1 and this Section 2), any reference herein to the “exercise” of this Warrant shall be deemed to include a reference to the exchange of this Warrant for Common Units in accordance with the
terms of this Section 2. For purposes of this Section 2, “Fair Market Value” shall mean the price per Common Unit as determined in good faith by the Board of Directors or, if traded on a nationally recognized securities
exchange, the value shall be deemed to be the closing price of the security on such exchange or market on the date of exercise. 
 3.
Adjustment for Dividends, Distributions, Subdivisions, Combinations, Mergers, Consolidations or Sale of Assets. 
 3.1 Manner of
Adjustment. 
 (a) Unit Dividends, Distributions or Subdivisions. In the event the Company shall issue units in a unit dividend,
unit distribution or subdivision in respect of its Common Units, the Exercise Price in effect immediately before such unit dividend, unit distribution or subdivision shall, concurrently with the effectiveness of such unit dividend, unit distribution
or subdivision, be proportionately decreased and the number of Warrant Units shall be proportionately increased. 
 (b) Combinations or
Consolidations. In the event the outstanding Common Units shall be combined or consolidated, by reclassification or otherwise, into a lesser number of Common Units, the Exercise Price in effect immediately prior to such combination or
consolidation shall, concurrently with the effectiveness of such combination or consolidation, be proportionately increased and the number of Warrant Units shall be proportionately decreased. 

  
 2 

 (c) Adjustment for Reclassification, Exchange or Substitution. In the event that the
class of securities issuable upon the exercise of this Warrant shall be changed into the same or a different number of units (or other equity interests) of any class or classes of units (or other equity interests) of the Company or Holdings prior to
the Expiration Time, whether by capital reorganization, reclassification or otherwise (other than any event addressed by Sections 3.1(a) or 3.1(b)), then and in each such event the Holder shall have the right thereafter to exercise this Warrant
for the kind and amount of units and/or other securities and property receivable upon such reorganization, reclassification, or other change, by holders of the number of units (or other equity interests) of the class of securities into which such
Warrant might have been exercisable for immediately prior to such reorganization, reclassification, or change, all subject to further adjustment as provided herein. For the avoidance of doubt, this Section 3.1(c) shall not apply to a Sale of
the Company. 
 (d) IPO. In connection with preparation for an IPO, upon request the Board of Directors, the Holder will take
appropriate steps to implement a reorganization of the Company which may include, as examples, contribution of this Warrant (or the Warrant Units) to Holdings on terms that preserve and reflect the substantive economic rights of this Warrant (or the
Warrant Units) (consistent with Section 10.08 of the Operating Agreement) and execution of a lock-up (consistent with Section 10.09 of the Operating Agreement). 

3.2 Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Exercise Price pursuant to this
Section 3, the Company at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder a certificate setting forth such adjustment or readjustment and showing in detail the
facts upon which such adjustment or readjustment is based. 
 3.3 Closing of Books. The Company shall at no time close its transfer
books against the transfer of any Warrant Units in any manner which interferes with the timely and proper issuance of such Warrant Units. 

4. Sale of the Company. In the event of a Sale of the Company (as defined in the Operating Agreement) either (i) Holder shall
exercise this Warrant pursuant to Section 1 and/or 2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Sale of the Company, or (ii) if Holder elects not to exercise the Warrant,
this Warrant will expire immediately prior to the consummation of such Acquisition. 
 5. Covenants of the Company. During the period
within which the rights represented by this Warrant may be exercised, the Company shall at all times have authorized for the purpose of issue upon exercise of the rights evidenced hereby, a sufficient number of units of the class of securities
issuable upon exercise of this Warrant to provide for the exercise of such rights; provided, that if at any time the number of units of authorized but unissued securities issuable upon the exercise of this Warrant shall not be sufficient to
effect the exercise of this Warrant, upon the request of the holders of at least a majority of the Warrant Units issuable pursuant to all the of the Warrants (the “Requisite Majority”), the Company will promptly take such company
action as shall be necessary to increase its authorized but unissued units of such class of securities issuable upon the exercise of this Warrant as shall be sufficient for such purpose, including, without limitation, preparing an amendment to the
Operating Agreement for the review and approval of the Board of Directors and submitting such amendment to requisite Company members for approval. All securities which may be issued upon the exercise of the rights represented by this Warrant shall,
upon issuance, be validly issued, fully paid and non-assessable and free from all taxes, liens and charges with respect to the issue thereof. Upon surrender for exercise, this Warrant shall be canceled and
shall not be reissued; provided, however, that upon the partial exercise hereof a substitute Warrant of like tenor and date representing the rights to subscribe for and purchase any such unexercised portion hereof shall be issued. 

  
 3 

 6. Voting Rights. This Warrant shall not entitle the Holder to any voting rights or
any other rights as a member of the Company but upon presentation of this Warrant with the Subscription Form or Exchange Notice duly executed and the tender of payment of the aggregate Exercise Price (if applicable) at the office of the Company
pursuant to the provisions of this Warrant, the Holder shall forthwith be deemed a member of the Company in respect of the securities for which the Holder has so subscribed and paid or exchanged, and shall in connection therewith execute any and all
documents required for the Holder to become a party to the Operating Agreement (if not already a party thereto). This Warrant and the Warrant Units, when issued, shall be subject in all respects (including with respect to transfer, voting, economic
rights and otherwise) to the provisions of the Operating Agreement applicable to this Warrant or the Warrant Units, as applicable. 
 7.
No Change Necessary. The form of this Warrant need not be changed because of any adjustment in the Exercise Price or in the number or type of Warrant Units. A Warrant issued after any adjustment or any partial exercise or upon replacement may
continue to express the same Exercise Price and the same number and type of Warrant Units (appropriately reduced in the case of partial exercise) as are stated on this Warrant as initially issued, and that Exercise Price and that number and type of
Warrant Units shall be considered to have been so changed as of the close of business on the date of adjustment. 
 8. Notices to
Holder. If at any time prior to the expiration of this Warrant and prior to its exercise, any of the following events shall occur: 

(a) the Company shall take a record of the holders of its Common Units for the purpose of entitling them to receive a dividend or distribution
payable in respect of the Common Units, other than Tax Distributions, or 
 (b) the consummation of a Sale of the Company 

then, in any one or more of said events, the Company shall give to the Holder written notice of such event. Such notice shall set forth the date on which such
event shall take place, shall if applicable specify the deadline date as of which the holders of Common Units of record shall be entitled or required to take any action, or the record date with respect to any dividend, and shall be given at least
ten (10) days’ prior to the deadline or record date. Failure to give such notice or any defect therein shall not affect the validity of any action taken in connection with the declaration or payment of any such dividend or the making of
any such distribution or any action in connection with any such proposed Sale of the Company, provided that any cancellation of this Warrant pursuant to Section 4 shall be contingent on delivery by the Company of the written notice(s) specified
in such Section. 
 9. Addresses for Notices. All notices, requests, consents and other communications hereunder shall be in writing,
either delivered in hand or mailed by registered or certified mail, return receipt requested, or sent by facsimile, and shall be deemed to have been duly made when delivered: 

(a) If to the Holder, to the Holder’s address as shown on the Holder’s signature page hereto; or 

(b) If to the Company, at the Company’s principal executive office, with attention to the President of the Company. 

  
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 10. Substitution. In the case this Warrant shall be mutilated, lost, stolen or
destroyed, the Company shall issue a new Warrant of like tenor and denomination and deliver the same (a) in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or (b) in lieu of any Warrant lost,
stolen or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft, or destruction of such Warrant (including, without limitation, a reasonably detailed affidavit with respect to the circumstances of any loss, theft or
destruction), and of indemnity (or, in the case of the initial Holder or any other institutional holder, an indemnity agreement) satisfactory to the Company. 

11. Transfer Restrictions. This Warrant shall be exercisable only by the Holder. Without the prior written consent of the Company, this
Warrant shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation
or other disposition of this Warrant or of any rights granted hereunder contrary to the provisions of this Section 11, or the levy of any attachment or similar process upon this Warrant or such rights, shall be null and void. Notwithstanding
the foregoing, the Holder may transfer this Warrant in full to an Affiliate or family member (as defined in the Operating Agreement) of the Holder; provided that (1) the transferee shall agree in writing to be bound by and subject to all
the obligations and entitled to all the benefits of this Warrant as the “Holder” hereunder, and (2) the Company obtains prior assurances reasonably satisfactory to the Company that such transfer is exempt from the registration
requirements of, or is covered by an effective registration statement under, the Act and applicable state securities or “blue sky” laws, including, without limitation, receipt of an opinion to such effect of counsel reasonably satisfactory
to the Company. 
 12. Taxes. The Company makes no representation about tax treatment to the Holder with respect to receipt or
exercise of this Warrant or acquiring, holding or disposing of the Warrant Units, and the Holder represents that the Holder has had the opportunity to discuss such treatment with the Holder’s tax advisers. 

13. Remedies. Each party stipulates that the remedies at law in the event of any default or threatened default by the other party in
the performance or compliance with any of the terms of this Warrant are and shall not be adequate, and that such terms may be specifically enforced by a decree for that specific performance of any agreement contained herein or by an injunction
against a violation of any of the terms hereof or otherwise. 
 14. Governing Law. This Warrant shall be governed by, and construed
in accordance with the internal laws of the State of Delaware, without reference to principles of conflict of laws or choice of laws. 

  
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 15. Amendment. Except as expressly provided herein, neither this Warrant nor any term
hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the holders of warrants representing not less than a majority of the Warrant Units issuable upon
exercise of any and all outstanding Warrants, which majority does not need to include the consent of the Holder; provided, however, that no such amendment, waiver or termination shall (i) increase the Exercise Price or
(ii) otherwise decrease the number of Warrant Units issuable hereunder. Any amendment, waiver, discharge or termination effected in accordance with this Section 15shall be binding upon each holder of the Warrants, each future holder of
such Warrants and the Company. 
 16. Miscellaneous. The invalidity or unenforceability of any provision hereof shall in no way
affect the validity or enforceability of any other provision. This Warrant may be executed in any number of counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument, and
any of the parties hereto may execute this Warrant by signing any such counterpart. This Warrant may be executed and delivered by facsimile, or by e-mail in portable document format (.pdf) and delivery of the
signature page by such method will be deemed to have the same effect as if the original signature had been delivered to the other parties. 

[remainder of page intentionally left blank] 

  
 6 

 IN WITNESS WHEREOF, the Company has caused this Common Unit Warrant to be executed effective
as of the date first written above. 
  

			
	YUMANITY HOLDINGS, LLC
		
	By:	 	 /s/ N. Anthony Coles

	Name:	 	N. Anthony Coles
	Title:	 	Chairman & CEO
		
	By:	 	 /s/ Paulash Mohsen

	Name:	 	Paulash Mohsen
	Title:	 	Chief Business Officer

 Acknowledged and agreed as of 

the date first written above by: 
  

	
	 /s/ N. Anthony Coles

	 N. Anthony Coles

 [SIGNATURE PAGE TO COMMON UNIT WARRANT] 

 Exhibit A 

Subscription Form 
 (To
be Executed by the Holder 
 in Order to Exercise the Warrant) 

Date:
                         

To: [                ] 

The undersigned, pursuant to the provisions set forth in the attached Warrant hereby irrevocably elects to purchase
             Common Units (the “Common Units”) of Yumanity Holdings, LLC (the “Company”) covered by such Warrant and herewith makes payment of
$                , representing the [full/partial] purchase price for such units at the price per unit provided for in such Warrant. Capitalized terms defined,
but not used, herein shall have the meanings ascribed to them in such Warrant. 
 The undersigned hereby agrees to take such other action and execute and
deliver such other documents as the Company may require, in connection with the issuance of the Common Units to the undersigned as aforesaid, in order to comply with the provisions of such Warrant. 

The undersigned is aware that the Common Units issuable upon exercise hereof (the “Units”) have not been registered under the Act or any
state securities laws. The undersigned understands that the reliance by the Company on exemptions under the Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Subscription Form and such Warrant. 

The undersigned represents and warrants that (1) it has been furnished with all information which it deems necessary to evaluate the merits and risks of
the purchase of the Units, (2) it has had the opportunity to ask questions concerning the Units and the Company and all questions posed have been answered by the Company to its satisfaction, (3) it has been given the opportunity to obtain
any additional information it deems necessary to verify the accuracy of any information obtained concerning the Units and the Company, (4) it has such knowledge and experience in financial and business matters that it is able to evaluate the
merits and risks of purchasing the Units and to make an informed investment decision relating thereto, and (5) it is an “Accredited Investor” as defined in Rule 501(a) of Regulation D under the Act. 

The undersigned hereby represents and warrants that it is purchasing the Units for its own account and not with a view to the sale or distribution of all or
any part of the Units. 
 The undersigned understands that because the Units have not been registered under the Act, it must continue to bear the economic
risk of the investment for an indefinite time and the Units cannot be sold unless the Units are subsequently registered under applicable federal and state securities laws or an exemption from such registration is available. 

The undersigned agrees that it shall in no event sell or distribute or otherwise dispose of all or any part of the Units unless (1) there is an effective
registration statement under the Act and applicable state securities laws covering any such transaction involving the Units, (2) the Company receives an opinion of legal counsel to the undersigned (concurred in by legal counsel for the Company)
stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration, and (3) the sale or distribution is in compliance with the Operating Agreement. 

  
 A-1 

 The undersigned understands that the Units will not be certificated, but consents to the placing of a legend
on any certificate issued in respect of the Units stating that the Units has not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any
transfer agents against the Units until the Units may be legally resold or distributed without restriction. 
 The undersigned has considered the Federal
and state income and other tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Units. 
  

	
	  

	Printed Name of Holder (Must conform in all respects to name of Holder as specified on the face of such Warrant)
	  

	Signature
	  

	Name of Signatory (for an entity only)
	  

	Title of Signatory (for an entity only)

  
 A-2 

 Exhibit B 

Exchange Notice 
 (To be
Executed by the Holder 
 in Order to Exchange the Warrant) 

Date:
                         

To: [                ] 

The undersigned, pursuant to the provisions set forth in the attached Warrant hereby irrevocably elects to exchange such Warrant with respect to
                 Common Units (the “Common Units”) of Yumanity Holdings, LLC (the “Company”) covered by such Warrant which such
Holder would be entitled to receive upon the exercise thereof. Capitalized terms defined, but not used, herein shall have the meanings ascribed to them in such Warrant. 

The undersigned hereby agrees to take such other action and execute and deliver such other documents as the Company may require, in connection with the
issuance of the Common Units to the undersigned as aforesaid, in order to comply with the provisions of such Warrant. 
 The undersigned is aware that the
Common Units issuable upon exercise hereof (the “Units”) have not been registered under the Act or any state securities laws. The undersigned understands that the reliance by the Company on exemptions under the Act is predicated in
part upon the truth and accuracy of the statements of the undersigned in this Subscription Form and such Warrant. 
 The undersigned represents and warrants
that (1) it has been furnished with all information which it deems necessary to evaluate the merits and risks of the purchase of the Units, (2) it has had the opportunity to ask questions concerning the Units and the Company and all
questions posed have been answered by the Company to its satisfaction, (3) it has been given the opportunity to obtain any additional information it deems necessary to verify the accuracy of any information obtained concerning the Units and the
Company, (4) it has such knowledge and experience in financial and business matters that it is able to evaluate the merits and risks of purchasing the Units and to make an informed investment decision relating thereto, and (5) it is an
“Accredited Investor” as defined in Rule 501(a) of Regulation D under the Act. 
 The undersigned hereby represents and warrants that it is
purchasing the Units for its own account and not with a view to the sale or distribution of all or any part of the Units. 
 The undersigned understands
that because the Units have not been registered under the Act, it must continue to bear the economic risk of the investment for an indefinite time and the Units cannot be sold unless the Units are subsequently registered under applicable federal and
state securities laws or an exemption from such registration is available. 
 The undersigned agrees that it shall in no event sell or distribute or
otherwise dispose of all or any part of the Units unless (1) there is an effective registration statement under the Act and applicable state securities laws covering any such transaction involving the Units, (2) the Company receives an
opinion of legal counsel to the undersigned (concurred in by legal counsel for the Company) stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration, and
(3) the sale or distribution is in compliance with the Operating Agreement. 

  
 B-1 

 The undersigned understands that the Units will not be certificated, but consents to the placing of a legend
on any certificate issued in respect of the Units stating that the Units has not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any
transfer agents against the Units until the Units may be legally resold or distributed without restriction. 
 The undersigned has considered the Federal
and state income and other tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Units. 
  

	
	  

	Printed Name of Holder (Must conform in all respects to name of Holder as specified on the face of such Warrant)
	  

	Signature
	  

	Name of Signatory (for an entity only)
	  

	Title of Signatory (for an entity only)

  
 B-2EX-10.32

 Exhibit 10.32 

THIS WARRANT AND THE UNITS ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE
SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTIONS 5.3 AND 5.4 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION. 
 WARRANT TO PURCHASE
LIMITED LIABILITY COMPANY INTERESTS 
  

			
	Company:	  	YUMANITY HOLDINGS, LLC, a Delaware limited liability company
	Number of Units:	  	4,800
	Type/Class of Units:	  	Class A Preferred
	Warrant Price:	  	$6.7587 per unit (Subject to Section 1.7)
	Issue Date:	  	June 14, 2018
	Expiration Date:	  	June 14, 2028 See also Section 5.1(b).
	Credit Facility:	  	This Warrant to Purchase Limited Liability Company Interests (“Warrant”) is issued in connection with that certain Loan and Security Agreement of even date herewith among Oxford Finance LLC, as Lender and Collateral
Agent, the Lenders from time to time party thereto, including Silicon Valley Bank and Yumanity Therapeutics, Inc. (the “Borrower”) (as modified, amended and/or restated from time to time, the “Loan
Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, SILICON VALLEY BANK (“SVB”
or “Bank” and, together with any successor or permitted assignee or transferee of this Warrant or of any units issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable units of limited liability company interest (the “Units”) of the above-stated Type/Class of Units (as may be adjusted from time to time pursuant to the provisions of this Warrant, the
“Class”) as defined in, and having the relative rights, powers, preferences and privileges as set forth in, the above-named company’s (the “Company”) Second Amended and Restated Operating Agreement dated as of
February 8, 2016, as amended and/or restated and in effect from time to time (the “Operating Agreement”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 of this Warrant,
subject to the provisions and upon the terms and conditions set forth in this Warrant. Reference is made to Section 5.4 of this Warrant whereby Silicon Valley Bank shall transfer this Warrant to its parent company, SVB Financial Group. 

As used herein, “units” refers generally to limited liability company interests in the Company, whether such interests be
styled as units, percentage interests, shares or otherwise in the Operating Agreement. 
 SECTION 1.    EXERCISE.

 1.1    Method of Exercise. Holder may at any time and from time to time exercise this Warrant, in whole or in
part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise
set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the
Units being purchased. 
 1.2    Cashless Exercise. On any exercise of this Warrant, in lieu of payment of the
aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Units equal to the value of this Warrant, or portion hereof as to which
this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non-assessable Units as are computed using the following formula: 

X = Y(A-B)/A 

  
 1 

 where: 
  

					
		 	X =	    	the number of Units to be issued to the Holder;
			
		 	Y =	    	the number of Units with respect to which this Warrant is being exercised (inclusive of the Units surrendered to the Company in payment of the aggregate Warrant Price);
			
		 	A =	    	the fair market value (as determined pursuant to Section 1.3 below) of one Unit; and
			
		 	B =	    	the Warrant Price.

 1.3    Fair Market Value. If units of the Class are then traded or quoted on a
nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”), the fair market value of a
Unit shall be the closing price or last sale price of a unit of the Class reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If units of the
Class are not then traded in a Trading Market, the Board of Directors of the Company shall determine the fair market value of a Unit in its reasonable good faith judgment. 

1.4    Delivery of Certificate and New Warrant. Within a reasonable time after Holder exercises this Warrant in the
manner set forth in Section 1.1 or 1.2 above, if units of the Class are then certificated by the Company, the Company shall deliver to Holder a certificate representing the Units issued to Holder upon such exercise and, if this Warrant has
not been fully exercised and has not expired, a new warrant of like tenor representing the Units not so acquired. If units of the Class are not then certificated by the Company, the Company will deliver to Holder such evidence of the issuance
of such Units to Holder as required or permitted under the Operating Agreement or, if there be none, such evidence as Holder may reasonably request. 

1.5    Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this
Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount. 

1.6    Treatment of Warrant Upon Acquisition of Company. 

(a)    Acquisition of the Company. For the purpose of this Warrant, “Acquisition of the Company”
means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Company; (ii) any merger or consolidation of the Company into
or with another person or entity (other than a merger or consolidation effected exclusively to change the Company’s domicile), or any other company reorganization, in which the members and other holders of units of the Company in their capacity
as such immediately prior to such merger, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or
reorganization (or, if such Company members and other holders of units beneficially own a majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, consolidation or reorganization, such
surviving or successor entity is not the Company); or (iii) any sale, contribution or other transfer by the members and/or other holders of units of the Company of units representing at least a majority of the Company’s then-total
outstanding combined voting power. 
 (b)    Treatment of Warrant at Acquisition of the Company. In the event of
an Acquisition of the Company in which the consideration to be received by the Company’s members and other holders of units consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a
“Cash/Public Acquisition”), and Holder has not exercised this Warrant pursuant to Section 1.1 and/or 1.2 above as to all Units, either (i) Holder shall exercise this Warrant pursuant to Section 1.1 and/or 1.2 and such
exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition of the Company, 

  
 2 

 
(ii) Holder shall exercise its Redemption Right (as defined in Section 1.8) to cause the Company to purchase this Warrant pursuant to Section 1.8 and such exercise shall be deemed
effective immediately prior to and contingent upon the consummation of such Acquisition of the Company, or (iii) if Holder fails to exercise this Warrant or its Redemption Right, this Warrant will expire immediately prior to the consummation of
such Acquisition of the Company. 
 (c)    The Company shall provide Holder with written notice of its request relating
to the Cash/Public Acquisition (together with such reasonable information as Holder may reasonably require regarding the treatment of this Warrant in connection with such contemplated Cash/Public Acquisition giving rise to such notice), which is to
be delivered to Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. 

(d)    Upon the closing of any Acquisition of the Company other than a Cash/Public Acquisition defined above, the
acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Units issuable upon exercise of the
unexercised portion of this Warrant as if such Units were outstanding on and as of the closing of such Acquisition of the Company, subject to further adjustment from time to time in accordance with the provisions of this Warrant. 

(e)    As used in this Warrant, “Marketable Securities” means securities meeting all of the following
requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in its
filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition of the Company were
Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition of the Company, Holder would not be restricted from publicly
re-selling all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition of the Company were Holder to exercise this Warrant in full on or prior to the closing of
such Acquisition of the Company, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such
Acquisition of the Company. 
 1.7    Adjustment to Warrant Price. If, upon the closing of the Next Equity
Financing, the Next Equity Financing Price shall be less than the Warrant Price in effect as of immediately prior thereto, then the “Warrant Price” shall be the Next Equity Financing Price from and after such closing, subject to adjustment
thereafter from time to time in accordance with the provisions of this Warrant. As used herein (i) “Next Equity Financing” means the first sale or issuance by the Company on or after the Issue Date of this Warrant set forth above, in a
single transaction or series of related transactions, of units of its preferred units or other senior equity securities to one or more investors for cash for financing purposes; (ii) “Next Equity Financing Securities” means the type, class
and series of preferred units or other senior equity security sold or issued by the Company in the Next Equity Financing; and (iii) “Next Equity Financing Price” means the lowest price per unit for which Next Equity Financing Securities
are sold or issued by the Company in the Next Equity Financing. 
 1.8    Redemption Right. 

(a)    In connection with any Acquisition of the Company, any Acquisition of the Borrower (as defined below), a Company IPO
(as defined below), a Borrower IPO (as defined below) or the Expiration Date if this Warrant has not been exercised (each, a “Redemption Right Event”), Holder shall have the right, but not the obligation, to provide written notice
to the Company of its election to require the Company to purchase this Warrant (a “Redemption Right”) for the Redemption Price (as defined below); provided, however, in the case of the Redemption Right Event due to the Expiration
Date if this Warrant has not been exercised, no written notice by Holder to the Company shall be required and Holder shall be deemed to have automatically exercised its election to require the Company to purchase this Warrant on the Expiration Date.

 (b)    If Holder exercises the Redemption Right, the Company shall pay the Redemption Price in cash to Holder,
pursuant to wiring instructions provided by Holder to the Company either in the notice of exercise or thereafter in writing, (i) in connection with a Redemption Right Event (other than the Expiration Date), immediately prior to and contingent
upon the consummation of such Redemption Right Event, and (ii) pursuant to the Expiration Date, within five (5) Business Days following the Expiration Date. 

  
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 (c)    The term “Redemption Price” means an amount
equal to (x) four percent (4%) times (y) the aggregate principal amount of Credit Extensions (as defined in the Loan Agreement) made by SVB to the Borrower under the Loan Agreement. 

(d)    The term “Acquisition of the Borrower” means any transaction or series of related transactions
involving: (i) the sale, lease, exclusive license, or other disposition of all or substantially all of the assets of the Borrower; (ii) any merger or consolidation of the Borrower into or with another person or entity (other than a merger
or consolidation effected exclusively to change the Borrower’s domicile), or any other corporate reorganization, in which the stockholders of the Borrower in their capacity as such immediately prior to such merger, consolidation or
reorganization, own less than a majority of the Borrower’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, consolidation or reorganization (or, if such Borrower’s stockholders
beneficially own a majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, consolidation or reorganization, such surviving or successor entity is not the Borrower); or (iii) any sale or
other transfer by the stockholders of the Borrower of shares representing at least a majority of the Borrower’s then-total outstanding combined voting power. 

SECTION 2.    ADJUSTMENTS TO THE UNITS AND WARRANT PRICE. 

2.1    Unit Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding
units of the Class payable in common units or other units, securities or property (other than cash), then upon exercise of this Warrant, for each Unit acquired, Holder shall receive, without additional cost to Holder, the total number and kind
of units, securities and property which Holder would have received had Holder owned the Units of record as of the date the dividend or distribution occurred. If the Company subdivides the outstanding units of the Class by reclassification or
otherwise into a greater number of units, the number of Units purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding units of the Class are combined or consolidated,
by reclassification or otherwise, into a lesser number of units, the Warrant Price shall be proportionately increased and the number of Units shall be proportionately decreased. 

2.2    Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding
units of the Class are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, this Warrant will be exercisable
for the number, class and series of Company securities that Holder would have received had the Units been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the
provisions of this Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations substitutions, replacements or other similar events. 

2.3    Adjustments for Diluting Issuances. Without duplication of any adjustment otherwise provided for in this
Section 2, the Units shall be subject to anti-dilution adjustment from time to time in the manner set forth in the Company’s Certificate of Formation or the Operating Agreement, if any, as if the Units were issued and outstanding on and as
of the date of any such required adjustment. 
 2.4    No Fractional Unit. No fractional Unit shall be issuable
upon exercise of this Warrant and the number of Units to be issued shall be rounded down to the nearest whole Unit. If a fractional Unit interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional Unit interest by
paying Holder in cash the amount computed by multiplying the fractional interest by (i) the fair market value (as determined in accordance with Section 1.3 above) of a full Unit, less (ii) the then-effective Warrant Price.  
 2.5    Notice/Certificate as to Adjustments. Upon each
adjustment of the Warrant Price, Class and/or number of Units, the Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price, Class and/or number of
Units and facts upon which such 

  
 4 

 
adjustment is based. The Company shall, upon written request from Holder, furnish Holder with a certificate of an Officer (as defined in the Operating Agreement) of the Company, including
computations of such adjustment and the Warrant Price, Class and number of Units in effect upon the date of such adjustment. 
 SECTION
3.    REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1    Representations and
Warranties. The Company represents and warrants to, and agrees with, the Holder as follows: 
 (a)    The initial
Warrant Price referenced on the first page of this Warrant is not greater than the price per unit at which shares of the Class were last sold and issued prior to the Issue Date hereof in an arms-length transaction in which at least $500,000 of
such units were sold. 
 (b)    All Units which may be issued upon the exercise of this Warrant shall, upon issuance, be
duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein, under the Operating Agreement or under applicable
federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued units such number of units of the Class as will be sufficient to permit the exercise
in full of this Warrant. 
 (c)    The Company’s capitalization table attached hereto as Schedule 1 is true and
complete, in all material respects, as of the Issue Date. 
 3.2    Notice of Certain Events. If the Company
proposes at any time to: 
 (a)    declare any dividend or distribution upon the outstanding units of the Class or
common units, whether in cash, property, units, or other securities and whether or not a regular or periodic cash dividend or distribution (other than a distribution of cash upon the outstanding units of the Class made solely for the purpose of
permitting the holders thereof to satisfy their respective federal and state tax obligations in respect of the taxable income of the Company); 

(b)    offer for subscription or sale pro rata to the holders of the outstanding units of the Class any additional
units of any class or series of the Company’s units (other than pursuant to contractual pre-emptive rights); 

(c)    effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the
outstanding units of the Class; 
 (d)    effect an Acquisition of the Company (or if the Borrower will effect an
Acquisition of the Borrower) or to liquidate, dissolve or wind up; or 
 (e)    effect the initial, underwritten public
offering and sale of the Company’s units pursuant to an effective registration statement under the Act (a “Company IPO”) or if the Borrower will effect an initial, underwritten public offering and sale of its common
stock pursuant to an effective registration statement under the Act (a “Borrower IPO”); 
 then, in connection with each such event, the
Company shall give Holder: 
 (1)    at least seven (7) Business Days prior written notice of the date on which a
record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding units of the Class will be entitled thereto) or for determining rights to vote, if any, in respect of the
matters referred to in (a) and (b) above; 
 (2)    in the case of the matters referred to in (c) and (d)
above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding units of the Class will be entitled to exchange their units for the
securities or other property deliverable upon the occurrence of such event); and 

  
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 (3)    with respect to a Company IPO or Borrower IPO, at least seven
(7) Business Days prior written notice of the date on which the Company or Borrower, as the case may be, proposes to publicly file its registration statement in connection therewith. 

The Company will also provide information requested by Holder that is reasonably necessary to enable Holder to comply with Holder’s accounting or
reporting requirements. Holder agrees that in handling any confidential information of the Company, Holder shall exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made:
(a) subject to the terms and conditions of this Warrant, to Holder’s Subsidiaries or Affiliates, or in connection with Holder’s own financing or securitization transactions and upon the occurrence of a default, event of default or
similar occurrence with respect to such financing or securitization transaction; (b) to prospective transferees (other than those identified in (a) above) or purchasers of any interest in the Credit Extensions (as defined in the Loan
Agreement) (provided, however, Holder shall, except upon the occurrence and during the continuance of an Event of Default (as defined in the Loan Agreement), obtain such prospective transferee’s or purchaser’s agreement to the terms of
this provision or to similar confidentiality terms); (c) as required by law, regulation, subpoena, or other order; (d) to Holder’s regulators or as otherwise required in connection with an examination or audit; and (e) to third
party service providers of Holder so long as such service providers have executed a confidentiality agreement with Holder with terms no less restrictive than those contained herein. Confidential information does not include information that either:
(i) is in the public domain or in Holder’s possession when disclosed to Holder, or becomes part of the public domain after disclosure to Holder; or (ii) is disclosed to Holder by a third party, if Holder does not know that the third
party is prohibited from disclosing the information. Holder may use confidential information for any purpose, including, without limitation, for the development of client databases, reporting purposes, and market analysis. The provisions of the
immediately preceding sentence shall survive the termination of this Warrant. The agreements provided in this paragraph supersede all prior agreements, understanding, representations, warranties, and negotiations between the parties about the
subject matter of this paragraph. 
 3.3    Tax Treatment of Warrant. 

(a)    Application of Noncompensatory Option Treasury Regulations. The parties hereto acknowledge and agree that at
the time of the execution of this Warrant, the Company and Holder intend that the Warrant be treated as a “noncompensatory option” within the meaning of Treasury Regulations Section 1.721-2(f).
Therefore, unless and until this Warrant is exercised in accordance with its terms, the Company is taxed as a corporation under the Code (as defined below) (and only as to all periods commencing thereon or thereafter), or there is superseding
authority under which the Company’s tax counsel determines in writing (and a copy thereof provided to Holder) such treatment is not appropriate, or a Final Determination (as defined below) to the contrary has been made, for federal and
applicable state and local income tax purposes, the parties hereto agree to (i) treat the issuance of the Warrant as an open transaction and not as the issuance of a partnership or membership interest in the Company, (ii) treat each
Holder, with respect to ownership of the Warrant, as the holder of a warrant or option exercisable for limited liability company units or interests and not as a partner or a Member of the Company, and (iii) consistent with the regulations
promulgated by the Treasury Department (“Treasury Regulations”) under the Internal Revenue Code of 1986, as amended, or any successor statute (the “Code”) regarding noncompensatory partnership options, not allocate
any profits or losses or other items of income, gain, deduction, loss or credit to a Holder of this Warrant with respect to this Warrant or the limited liability company interests issuable on exercise hereof prior to the exercise of this Warrant.
The parties shall file all tax returns and information reports in a manner consistent with the foregoing, except to the extent otherwise required by the adoption of any superseding authority under which the Company’s tax counsel determines in
writing (and a copy thereof provided to Holder) such treatment is not appropriate or a Final Determination. To the extent the Company, after consultation with its tax counsel, determines that it is required to make any disclosure regarding the
treatment of this Warrant described above under Code Section 6662 or otherwise on its tax returns or other tax filings, the Company shall promptly notify Holder and, prior to filing, give Holder and its agents and representatives an opportunity
to review and comment on any such disclosure. For purposes of this Section 3.3, “Final Determination” means, with respect to any issue, (x) a decision, judgment, decree or other order by any court of competent
jurisdiction, which decision, judgment, decree or other order has become final and not subject to further appeal, (y) a closing agreement entered 

  
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into under Code Section 7121 or any other binding settlement agreement entered into in connection with or in contemplation of an administrative or judicial proceeding, or (z) the
completion of the highest level of administrative proceedings if a judicial contest is not or is no longer available. 

(b)    Exercise of Warrant. Upon exercise of this Warrant, the parties agree, with respect to all periods prior to
the date (if any) on which the Company began to be taxed as a corporation, to treat the exercise of this Warrant consistently with applicable Treasury Regulations, including, without limitation, to the extent allowed thereunder (i) establishing
an initial Capital Account (as defined in the Operating Agreement) for Holder equal to the consideration paid or deemed paid to the Company for the issuance of this Warrant plus the fair market value of any property contributed to the Company upon
exercise of this Warrant, if any, (ii) revaluing all Company assets and property immediately following exercise of this Warrant and allocating built-in gain or loss in the Company’s assets and
property to Holder and then to the historic Members as contemplated under the Treasury Regulations and, to the extent such allocation is insufficient to adjust Holder’s Capital Account in accordance with its right to share in capital, shifting
capital between Holder and the historic Members as contemplated under the Treasury Regulations, and (iii) making associated Code Section 704(c) allocations, including remedial allocations under
Section 1.704-3(d) of the Treasury Regulations. 
 (c)    Effect on Tax
Distributions. For purposes of determining the amount of any tax distribution made under the Operating Agreement to an exercising Holder who becomes a Member, any Code Section 704(c) allocations or “corrective allocations” made as
contemplated in Section 3.3(b) to such Member shall be treated as taxable income allocated to such Member by the Company, a tax distribution shall be made with respect to such allocations, and any and all tax distributions to an exercising
Holder (whether made pursuant to this Section 3.3(c) or the Operating Agreement) shall be computed in accordance with the Operating Agreement. If, pursuant to a Final Determination or otherwise, Holder is allocated taxable income with respect
to this Warrant in respect of any period prior to exercise hereof and such Holder has not otherwise received a tax distribution under the Operating Agreement with respect to such amounts, and/or if Holder is with respect to any period prior to
exercise hereof treated by federal or state tax authorities as a Member and the Units issuable upon exercise hereof treated as outstanding pursuant to Treasury Regulation 1.761-3 and/or any corresponding
applicable state tax regulation, then promptly upon making such required allocation of taxable income to Holder or receipt of Holder’s written notice of such Final Determination, as applicable, the Company shall indemnify Holder from and
against, and shall either make a payment to all appropriate taxing authorities (if required) in satisfaction of, or shall make a distribution of cash to Holder to cover, such Holder’s aggregate federal and state tax liabilities in respect of
such amount of taxable income or treatment (which shall include, without limitation, (x) all interest, penalties and fines thereon, (y) and all penalties, fines and interest thereon, if any, in respect of Holder’s liability for
failure to file tax returns in all applicable jurisdictions with respect to such periods for which such taxing authorities treat Holder as the owner of the Units, and (z) all amounts necessary for Holder to satisfy its aggregate federal and
state tax liabilities in respect of such Company payments or distributions to Holder), and such payment or distribution shall be made prior to making any other subsequent distributions under the Operating Agreement. Notwithstanding the foregoing,
this Section 3.3(c) shall not apply with respect to income to Holder from its sale or other disposition of this Warrant or of any securities issued on exercise hereof. 

(d)    Conversion Liability. Notwithstanding anything to the contrary in this Section 3.3, the Company’s
obligations under Section 3.3(c) above shall not apply to any tax liability or obligation of Holder under the Code or Treasury Regulations (or applicable state tax laws or regulations) arising upon and by reason of any Company (or any such
successor entity’s) reorganization, conversion, tax election or the like following which the Company (or any successor entity) is taxed as a corporation under the Code. 

(e)    Survival. The provisions of this Section 3.3 shall survive (i) the exercise of this Warrant and
the sale or other disposition by Holder of the Units, and (ii) the expiration or earlier termination of this Warrant. 

  
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 SECTION 4.    REPRESENTATIONS, WARRANTIES OF THE HOLDER. 

The Holder represents and warrants to the Company as follows: 

4.1    Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by
Holder are being acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the
specific purpose of acquiring this Warrant or the Units. 
 4.2    Disclosure of Information. Holder is aware of
the Company’s business affairs and financial condition and has received or has had full access to all the information it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant
and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional
information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access. 

4.3    Investment Experience. Holder understands that the purchase of this Warrant and its underlying securities
involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying
securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business
relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4    Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D
promulgated under the Act. 
 4.5    The Act. Holder understands that this Warrant and the Units issuable upon
exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder
understands that this Warrant and the Units issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and
qualification are otherwise available. Holder is aware of the provisions of Rule 144 promulgated under the Act. 

4.6    Market Stand-off Agreement. The Holder agrees that the Units shall
be subject to the Market Standoff provisions in Section 10.09 of the Operating Agreement or similar agreement. 

4.7    Rights as Member; Operating Agreement. Without limiting any provision of this Warrant, Holder agrees that,
as a Holder of this Warrant, it will not have any rights or obligations as a Member (as defined in the Operating Agreement) unless and until the exercise of this Warrant, and then only with respect to the Units issued upon such exercise. Upon
exercise of this Warrant, the Company agrees that Holder shall automatically and without further action by any person be admitted as a Member under the Operating Agreement with respect to the Units issued upon such exercise, and Holder and such
Units shall, subject to the provisions of Section 3.3 above, thereupon be subject to and bound by the Operating Agreement; provided, however, notwithstanding anything to the contrary in Section 10.05 of the Operating Agreement, Holder
shall not be required to be bound by any non-competition, non-solicitation or similar agreement. Holder shall execute and deliver a counterpart signature page, joinder
agreement, instrument of accession or similar instrument to the Operating Agreement, in form and substance reasonably acceptable to the Company and Holder, upon the Company’s request following exercise hereof. 

  
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 SECTION 5.    MISCELLANEOUS. 

5.1    Term. Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part
at any time and from time to time on or before 6:00 PM, Eastern time, on the Expiration Date and shall be void thereafter. 

5.2    Legends. If the Company’s units are then certificated, each certificate evidencing Units (and each
certificate evidencing the securities issued upon conversion of any Units, if any) shall be imprinted with a legend in substantially the following form: 

THE UNITS EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR
THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE LIMITED LIABILITY COMPANY INTERESTS ISSUED BY THE ISSUER TO SILICON VALLEY BANK DATED JUNE [    ], 2018, MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

 5.3    Compliance with Securities Laws on Transfer. This Warrant and the Units issued upon exercise of this
Warrant (and the securities issuable, directly or indirectly, upon conversion of the Units, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and
the transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an
opinion of counsel if the transfer is to SVB Financial Group (Silicon Valley Bank’s parent company) or any other affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated
under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act. 

5.4    Transfer Procedure. After receipt by Silicon Valley Bank of the executed Warrant, Silicon Valley Bank will
transfer all of this Warrant to its parent company, SVB Financial Group. By its acceptance of this Warrant, SVB Financial Group hereby makes to the Company, as of the date of such transfer, each of the representations and warranties set forth in
Section 4 hereof and agrees to be bound by all of the terms and conditions of this Warrant as if the original Holder hereof. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, SVB Financial Group
and any subsequent Holder may transfer all or part of this Warrant or the Units issuable upon exercise of this Warrant (or the securities issuable directly or indirectly, upon conversion of the Units, if any) to any transferee, provided, however, in
connection with any such transfer, SVB Financial Group or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will
surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable); and provided further, that any subsequent transferee other than SVB Financial Group shall agree in writing with the Company to be bound by all of
the terms and conditions of this Warrant. Notwithstanding any contrary provision herein, at all times prior to a Company IPO or Borrower IPO, Holder may not, without the Company’s prior written consent, transfer this Warrant or any portion
hereof, or any Units issued upon any exercise hereof, or any units or other securities issued upon any conversion of any Units issued upon any exercise hereof, to any person or entity who directly competes with the Company, except in connection with
an Acquisition of the Company by such a direct competitor. 
 5.5    Notices. All notices and other
communications hereunder from the Company to the Holder, or vice versa, shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail,
postage prepaid, (iii) upon actual receipt if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight courier service,
courier fee prepaid, in any case at such 

  
 9 

 
address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this
Section 5.5. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise: 

SVB Financial Group 
 Attn:
Treasury Department 
 3003 Tasman Drive, HA 200 

Santa Clara, CA 95054 

Telephone: 408-654-7400 

Facsimile: 408-496-2405 

Email: warradmi@svb.com 
 Notice
to the Company shall be addressed as follows until Holder receives notice of a change in address: 
 YUMANITY HOLDINGS, LLC 

790 Memorial Drive, Suite 2C 

Cambridge, MA 02139 
 Attn:
Paulash Mohsen 
 Telephone: (617) 409-5303 

Facsimile: (617) 409-5202 

Email: pmohsen@yumanity.com 

With a copy (which shall not constitute notice) to: 

GOODWIN PROCTER LLP 
 100
Northern Avenue 
 Boston, MA 02210 

Attn: Stuart M. Cable 

Telephone: (617) 570-1322 

Facsimile: (617) 523-1231 

Email: scable@goodwinlaw.com 

5.6    Waiver. This Warrant and any term hereof may be changed, waived, discharged or terminated (either generally
or in a particular instance and either retroactively or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

5.7    Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of
this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8    Counterparts; Facsimile/Electronic Signatures. This Warrant may be executed in counterparts, all of which
together shall constitute one and the same agreement. Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any
amendment thereto. 
 5.9    Governing Law. This Warrant shall be governed by and construed in accordance with
the laws of the State of New York, without giving effect to its principles regarding conflicts of law. 

5.10    Headings. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise
affect the meaning of any provision of this Warrant. 
 5.11    Business Days. “Business Day” is
any day that is not a Saturday, Sunday or a day on which Silicon Valley Bank is closed. 

  
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 [Remainder of page left blank intentionally] 

[Signature page follows] 

  
 11 

 IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Limited Liability
Company Interests to be executed by their duly authorized representatives effective as of the Issue Date written above. 
  

			
	“COMPANY”
	
	YUMANITY HOLDINGS, LLC
		
	By:	 	 /s/ Paulash Mohsen

	Name:	 	Paulash Mohsen
		 	(Print)
	Title:	 	CBO
	
	“HOLDER”
	
	SILICON VALLEY BANK
		
	By:	 	 /s/ Lauren Cole

	Name:	 	Lauren Cole
		 	(Print)
	Title:	 	Vice President

 [Signature Page to Warrant to Purchase Limited Liability Company Interests] 

 APPENDIX 1 

NOTICE OF EXERCISE 

1.    The undersigned Holder hereby exercises its right purchase ___________ units of the Class A Preferred Units of
YUMANITY HOLDINGS, LLC (the “Company”) in accordance with the attached Warrant To Purchase Limited Liability Company Interests, and tenders payment of the aggregate Warrant Price for such units as follows: 

 

			
	 [    ]
	  	 check in the amount of $________ payable to order of the Company enclosed herewith

		
	 [    ]
	  	 Wire transfer of immediately available funds to the Company’s account

		
	 [    ]
	  	Cashless Exercise pursuant to Section 1.2 of the Warrant
		
	 [    ]
	  	Other [Describe] __________________________________________

 2.    If units of the above stated Class are currently certificated by the Company,
please issue a certificate or certificates representing the Units in the name specified below: 
  

			
		 	  

		 	Holder’s Name
		
		 	  

		
		 	  

		 	(Address)

 3.    By its execution below and for the benefit of the Company, Holder hereby restates
each of the representations and warranties in Section 4 of the Warrant to Purchase Limited Liability Company Interests as of the date hereof. 
  

			
	HOLDER:
	  

			
		
	By:	 	  

 
			
	Name:	 	  

 
			
	Title:	 	  

 
			
	Date:	 	  

  
 Appendix 1 

 SCHEDULE 1 

Company Capitalization Table 

See attached 

  
 Schedule 1

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