Document:

Exhibit 10.1

    

     

    

    
      THIRD AMENDMENT AGREEMENT

      

      

      THIRD AMENDMENT AGREEMENT,
          dated as of January 16, 2019 (this "Agreement"), by and among Seelos Therapeutics, Inc., a Delaware corporation, ("Seelos"), Apricus Biosciences, Inc., a Nevada corporation ("Apricus"), and
          the investor listed on the signature pages attached hereto (the "Investor"). All terms used and not defined herein are used as defined in the
          Securities Purchase Agreement and the Warrants (each as defined below), as applicable.

      

      

      WHEREAS, Apricus and Seelos entered into that
          certain Securities Purchase Agreement, dated as of October 16, 2018 (as amended pursuant to that certain Amendment Agreement, dated November 16, 2018, by and among the parties thereto (the "First Amendment"), and that certain Second Amendment Agreement, dated January 4, 2019, by and among the parties thereto (the “Second
            Amendment”), the "Securities Purchase Agreement"), with the Investor, a Buyer, and the other Buyers listed on the signature pages attached thereto;

      

      

      WHEREAS, pursuant to the Securities Purchase
          Agreement: (i) Seelos agreed to issue to the Investor (x) the number of Initial Common Shares set forth opposite the Investor's name in column (3) of the Schedule of Buyers attached to the Securities Purchase Agreement and (y) up to the number of
          Additional Common Shares set forth opposite the Investor's name in column (4) of the Schedule of Buyers attached to the Securities Purchase Agreement and (ii) Apricus agreed to issue to the Investor (x) Series A Warrants to acquire Apricus Common
          Stock in the form attached as Exhibit B-1 to the Securities Purchase Agreement (the "Series
            A Warrants") and (y) Series B Warrants to acquire Apricus Common Stock in the form attached as Exhibit B-2 to the Securities Purchase Agreement (the "Series B Warrants" and, together with the Series A Warrants, the "Warrants"),
          in each case, subject to the terms and conditions set forth in the Securities Purchase Agreement;

      

      

      WHEREAS, Section 9 of the Second Amendment
          provides that any amendments or modifications thereto must be executed in writing by all parties thereto, provided, for the avoidance of doubt, that any amendment to any of the Transaction Documents shall be effected in accordance with the terms
          of the applicable Transaction Document;

      

      

      WHEREAS, Section 10(e) of the Securities
          Purchase Agreement provides that written consent of the Required Holders (as defined therein) shall be required for any change or amendment to the Securities Purchase Agreement, including, without limitation, any exhibit attached thereto; and

      

      

      WHEREAS, in compliance with Section 9 of the
          Second Amendment and Section 10(e) of the Securities Purchase Agreement, this Agreement shall only be effective and binding on all Buyers upon the execution and delivery of this Agreement and agreements in form and substance identical to this
          Agreement (other than with respect to the identity of the Investor and proportional changes reflecting the different holdings of the Buyers) (the "Other Agreements"
          and together with this Agreement, the "Agreements") entered into by and among Seelos, Apricus and such other Buyers who, collectively with the Investor,
          represent the Required Holders (as defined in the Securities Purchase Agreement) (such time, the "Effective Time").

       

      
        1

        
          

      

      

      

      NOW, THEREFORE, in consideration of the
          premises and the mutual agreements, provisions and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

      

      

      1.         Amendments. Section 1 of the Second Amendment is hereby amended and restated as follows:

      

      

      1.          Amendments. The Series A Warrants shall be in the form of Exhibit B-1 attached to the Securities Purchase Agreement,
          except as follows:

      

      

      (A)       The Form of the Series A Warrant attached as Exhibit B-1 to the Securities Purchase Agreement is hereby amended by amending Section 1(g) thereof to delete the following language:

      

      

      "In the event that upon any exercise of this Warrant, the Company does not have sufficient authorized shares to deliver in
          satisfaction of such exercise, then unless the Holder elects to void such attempted exercise, the Holder may require the Company to pay to the Holder within three (3) Trading
          Days of the applicable exercise, cash in an amount equal to the product of (i) the number of Warrant Shares that the Company is unable to deliver pursuant to this Section 1(g) and (ii) the highest Weighted Average Price during the period
          beginning on the date of such attempted exercise and the date that the Company makes the applicable cash payment."

      

      

      (B)       The Form of the Series A Warrant attached as Exhibit B-1 to the Securities Purchase Agreement is hereby amended by amending Section 4(c) thereof to add the language in italics, as follows:

      

      

      "Notwithstanding the foregoing, in the event of a
          Fundamental Transaction, at the request of the Holder delivered before the ninetieth (90th) day after the occurrence or consummation of such Fundamental Transaction, the
            Company (or the Successor Entity) shall purchase this Warrant from the Holder by paying to the Holder, within five (5) Business Days after such request (or, if later, on the effective date of the Fundamental Transaction), cash in an
          amount equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of such Fundamental Transaction; provided, however, if the Fundamental Transaction is not within the Company's control, including not approved by the Company's Board of Directors, the Holder shall only be entitled to receive from the Company or any Successor
            Entity, as of the date of consummation of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid
            to the holders of Common Stock in connection with such Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from
            among alternative forms of consideration in connection with such Fundamental Transaction."

       

      
        2

        
          

      

      

      

      (C)       The definition of "Black Scholes Consideration Value" set forth in Section 17(g) of the
          Form of the Series A Warrant attached as Exhibit B-1 to the Securities Purchase Agreement is hereby amended and restated as follows (changes shown):

      

      

      "[INSERT IN SERIES A WARRANT: "Black Scholes
            Consideration Value" means the value of the applicable Option, Convertible Security or Adjustment Right (as the case may be) calculated using the Black Scholes Option Pricing
            Model obtained from the "OV" function on Bloomberg determined as of the date of issuance thereof and reflecting (i) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of such Option,
            Convertible Security or Adjustment Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (ii) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the
            Trading Day immediately following the public announcement of the issuance of such Option, Convertible Security or Adjustment Right (as the case may be), or, if the issuance of such Option, Convertible Security or Adjustment Right (as the case
            may be) is not publicly announced, the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (iii) the underlying price per share used in such calculation shall be the average of the Weighted Average Prices highest
              Weighted Average Price of the Common Stock during the period beginning on the Trading Day prior to the execution of definitive documentation relating to the
            issuance of such Option or Convertible Security (as the case may be) and ending on (A) the Trading Day immediately following the public announcement of the execution of definitive documents with respect to the issuance of such Option or
            Convertible Security (as the case may be), or, (B) if the execution of definitive documents with respect to the issuance of such Option or Convertible Security (as the case may be) is not publicly announced, the date of such issuance, (iv) a
            zero cost of borrow and (v) a 365 day annualization factor.] [INSERT IN SERIES B WARRANT: Intentionally omitted.]"

       

      
        3

        
          

      

      

      

      (D)        The definition of "Black Scholes Value" set forth in Section 17(h) of the Form of the Series A Warrant attached as Exhibit B-1 to the Securities Purchase Agreement is
          hereby amended and restated as follows (changes shown):

      

      

      "[INSERT IN SERIES A WARRANT: "Black Scholes Value" means the value of this Warrant calculated using the Black-Scholes Option Pricing Model obtained from the "OV" function on Bloomberg determined as of the day immediately following the
            public announcement of the applicable Fundamental Transaction, or, if the Fundamental Transaction is not publicly announced, the date the Fundamental Transaction is consummated, for pricing purposes and reflecting (i) a risk-free interest rate
            corresponding to the U.S. Treasury rate for a period equal to the remaining term of this Warrant as of such date of request, (ii) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public
            announcement of the applicable Fundamental Transaction, or, if the Fundamental Transaction is not publicly announced, the date the Fundamental Transaction is consummated, (iii) the underlying price per share used in such calculation shall be
            the greater of (x) the average of the Weighted Average Prices highest Weighted Average Price of the Common Stock during the period beginning on the Trading Day prior to the
            execution of definitive documentation relating to the applicable Fundamental Transaction and ending on (A) the Trading Day immediately following the public announcement of such Fundamental Transaction, if the applicable Fundamental Transaction
            is publicly announced or (B) the Trading Day immediately following the consummation of the applicable Fundamental Transaction if the applicable Fundamental Transaction is not publicly announced and (y) the sum of the price per share being
            offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in the Fundamental Transaction, (iv) a zero cost of borrow and (v) a 365 day annualization factor.] [INSERT IN SERIES B WARRANT: Intentionally omitted."

       

      
        4

        
          

      

      

      

      (E)       Section 9 of the Securities Purchase Agreement is
          hereby amended by deleting the reference to "December 31, 2018" and replacing it with "January 31, 2019".

      

      

      (F)        Section 5(h) of the Securities Purchase Agreement
          is hereby amended by deleting the reference to "$100,000" and replacing it with "$130,000".

      

      

      2.          Effectiveness. This Agreement shall become effective as of the Effective Time.

      

      

      3.          Ratifications. Except as otherwise expressly provided herein, each Transaction Document, is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects,
          except that (i) all references in the Securities Purchase Agreement to "this Agreement", "hereto", "hereof", "hereunder" or words of like import referring to the Securities Purchase agreement shall mean the Securities Purchase Agreement as
          amended by the First Amendment, the Second Amendment and this Agreement and (ii) on and after the Closing Date all references in the Warrants to "this Warrant", "hereto", "hereof", "hereunder" or words of like import referring to the Warrants
          shall mean the Warrants as amended by the First Amendment, the Second Amendment and this Agreement.

      

      

      4.          Representations and Warranties. The Investor represents and warrants to each of Apricus and Seelos, and each of Apricus and Seelos, severally and not jointly, represents and warrants to the
          Investor as of the date hereof and as of the Effective Time that: Such Person is an entity duly organized and validly existing under the laws of the jurisdiction of its formation, has the requisite power and authority to execute and deliver this
          Agreement and to carry out and perform all of its obligations under the terms of this Agreement; this Agreement has been duly executed and delivered on behalf of such Person, and this Agreement constitutes the valid and legally binding obligation
          of such Person enforceable against such Person in accordance with its terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other
          similar laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies; the execution, delivery and performance by such Person of this Agreement and the consummation by such Person of the transactions
          contemplated hereby will not (i) result in a violation of the organizational documents of such Person, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to
          others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such Person is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree
          (including federal and state securities laws) applicable to such Person, except in the case of clause (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be
          expected to have a material adverse effect on the ability of such Person to perform its obligations hereunder.

       

      
        5

        
          

      

      

      

      5.          Disclosure. On or before 8:30 a.m., New York City time, on January 17, 2019, Apricus shall file a Current Report on Form 8-K describing the terms of the transactions contemplated hereby in the form
          required by the 1934 Act and attaching the form of this Agreement as an exhibit to such filing (the "8-K Filing"). From and after the filing of the 8-K
          Filing with the SEC, each of Apricus and Seelos hereby acknowledges and agrees that the Investor shall not be in possession of any material, nonpublic information received from Apricus or Seelos, any of their respective Subsidiaries or any of
          their respective officers, directors, affiliates, employees or agents, that is not disclosed in the 8-K Filing. Each of Apricus and Seelos understands and confirms that the Investor will rely on the foregoing in effecting transactions in
          securities of Apricus and Seelos.

      

      

      6.      Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the State of
          New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New
          York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any
          transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit,
          action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
          action or proceeding by mailing a copy thereof to such party at the address for such notices to it under the Securities Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof to
          the fullest extent enforceable under applicable law. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
            CONTEMPLATED HEREBY.

      

      

      7.         Counterparts; Headings. This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument.
          The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

      

      

      8.        Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise
          be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining
          provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
          of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
          endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

       

      
        6

        
          

      

      

      

      9.          Amendments. Any amendments or modifications hereto must be executed in writing by all parties hereto, provided, for the avoidance of doubt, that any amendment to any of the Transaction Documents
          shall be effected in accordance with the terms of the applicable Transaction Document.

      

      

      [Signature Page Follows]

       

      
        7

        
          

      

      

      

      IN WITNESS WHEREOF, the parties have duly
          executed this Agreement as of the date first above written.

      

      

      	 	
              APRICUS BIOSCIENCES, INC.

            
	 	 	 
	 	
              By:

            	
              
                 

              

            
	 	 	
              Name: Richard W. Pascoe

            
	 	 	
              Title: Chief Executive Officer

            

      

      

      [Signature Page to 3rd Amendment Agreement]

       

      
        
          

      

      

      

      IN WITNESS WHEREOF, the parties have duly
          executed this Agreement as of the date first above written.

      

      

      	 	
              SEELOS THERAPEUTICS, INC.

            
	 	 	 
	 	
              By:

            	
              
                 

              

            
	 	 	
              Name: Raj Mehra, Ph.D.

            
	 	 	
              Title: Chief Executive Officer

            

      

      

      [Signature Page to 3rd Amendment Agreement]

       

      
        
          

      

      

      

      IN WITNESS WHEREOF, the parties have duly
          executed this Agreement as of the date first above written.

      

      

      INVESTOR:

      

      

      Name of Investor: ________________________________________________________

      

      

      Signature of Authorized Signatory of Investor:
          _________________________________

      

      

      Name of Authorized Signatory: _______________________________________________

      

      

      Title of Authorized Signatory: ________________________________________________

      

      

       

        

      [Signature Page to 3rd Amendment Agreement]EX-10.1

 Exhibit 10.1 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”) is dated as of January 15, 2019, by and among
Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and permitted assigns, a “Purchaser” and
collectively, the “Purchasers”). 
 RECITALS 

A. The Company and each Purchaser is executing and delivering this Agreement in reliance upon the exemption from securities
registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”) as promulgated by the United
States Securities and Exchange Commission (the “Commission”) under the Securities Act. 
 B. Each Purchaser,
severally and not jointly, wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, (i)(a) that aggregate number of shares of common stock, par value $0.001 per share (the “Common
Stock”), of the Company, set forth below such Purchaser’s name on the signature page of this Agreement (which aggregate amount for all Purchasers together shall be 4,706,700 shares of Common Stock and shall be collectively referred to
herein as the “Common Shares”) and (b) warrants, in substantially the form attached hereto as Exhibit A (the “Warrants Relating to Common Shares”), to acquire up to that number
of additional shares of Common Stock equal to thirty-nine percent (39%) of the number of Common Shares purchased by such Purchaser (rounded down to the nearest whole share) and (ii)(a) that
aggregate number of shares of Series X Preferred Stock, par value $0.001 per share (the “Preferred Stock”), of the Company, set forth below such Purchaser’s name on the signature page of this Agreement (which aggregate amount
for all Purchasers together shall be 0 shares of Preferred Stock and shall be collectively referred to herein as the “Preferred Shares” and together with the Common Shares, the “Shares”) and (b) warrants (the
“Warrants Relating to Preferred Shares” and together with the Warrants Relating to Common Shares, the “Warrants”), in substantially the form attached hereto as Exhibit A, to acquire up to
that number of additional shares of Common Stock equal to thirty-nine percent (39%) of the number of Preferred Shares purchased by such Purchaser (rounded down to the nearest whole share). The shares of Common Stock issuable upon exercise of or
otherwise pursuant to the Warrants collectively are referred to herein as the “Warrant Shares”. 
 C. The
Shares, the Warrants, the Warrant Shares and the Underlying Shares collectively are referred to herein as the “Securities”. 

D. The Company has engaged Piper Jaffray & Co. as its sole lead placement agent (the “Placement
Agent”) for the offering of the Shares and Warrants on a “best efforts” basis. 
 E. Contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights Agreement, substantially in the form attached hereto as Exhibit B (the “Registration Rights
Agreement”), pursuant to which, among other things, the Company will agree to provide certain registration rights with respect to the Shares, the Warrant Shares and the Underlying Shares under the Securities Act and the rules and
regulations promulgated thereunder and applicable state securities laws. 
 NOW, THEREFORE, IN CONSIDERATION of the mutual
covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Purchasers hereby agree as follows: 

 ARTICLE I. 

DEFINITIONS 
 1.1
Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this Section 1.1: 

“Acquiring Person” has the meaning set forth in Section 4.6. 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or
more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act. With respect to a Purchaser, any investment fund or managed account
that is managed on a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. 

“Annual Meeting” has the meaning set forth in Section 4.16. 

“Applicable Laws” has the meaning set forth in Section 3.1(qq). 

“Agreement” has the meaning set forth in the Preamble. 

“Authorizations” has the meaning set forth in Section 3.1(qq). 

“Board of Directors” means the board of directors of the Company. 

“Business Day” means any day except Saturday, Sunday, any day which is a federal legal holiday in the United
States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Certificate of Designation” means the Certificate of Designation of Rights, Preferences and Privileges of
the Series X Preferred Stock setting forth the preferences, rights and limitations of the Preferred Stock to be filed only if necessary for the issuances of the Preferred Shares prior to the Closing by the Company with the Secretary of State of the
State of Delaware substantially in the form attached hereto as Exhibit K. 

“Closing” means the closing of the purchase and sale of the Shares and the Warrants pursuant to this
Agreement. 
 “Closing Date” means the Trading Day when all of the Transaction Documents have been executed
and delivered by the applicable parties thereto, and all of the conditions set forth in Sections 2.1, 2.2, 5.1 and 5.2 hereof are satisfied or waived, as the case may be, or such other date as the
parties may agree. 
 “Commission” has the meaning set forth in the Recitals. 

“Common Shares” has the meaning set forth in the Recitals. 

“Common Stock” has the meaning set forth in the Recitals, and also includes any other class of securities
into which the Common Stock may hereafter be reclassified or changed into. 
 “Common Stock Equivalents”
means any securities of the Company or any Subsidiary which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any
time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock or other securities that entitle the holder to receive, directly or indirectly, Common Stock. 

  
 2 

 “Common Stock Subscription Amount” means, with respect to
each Purchaser, the aggregate amount to be paid for the Common Shares and the Warrants Relating to Common Shares purchased hereunder as indicated on such Purchaser’s signature page to this Agreement next to the heading “Common Stock
Subscription Amount” in United States dollars and in immediately available funds. 
 “Common Unit Purchase
Price” means $5.37 per unit of Common Share and Warrant Relating to Common Shares. 
 “Company”
has the meaning set forth in the Preamble. 
 “Company Counsel” means Wilson Sonsini Goodrich &
Rosati, Professional Corporation. 
 “Company Deliverables” has the meaning set forth in
Section 2.2(a). 
 “Control” (including the terms “controlling”,
“controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise. 
 “Decheng Capital” means Decheng Capital China Life Sciences USD
Fund III, L.P. 
 “Decheng Representative” has the meaning set forth in
Section 5.1(k). 
 “DTC” has the meaning set forth in
Section 4.1(c). 
 “Effective Date” means the date on which the initial
Registration Statement required by Section 2(a) of the Registration Rights Agreement is first declared effective by the Commission. 

“Environmental Laws” has the meaning set forth in Section 3.1(dd). 

“Escrow Agent” has the meaning set forth in Section 2.1(d). 

“Escrow Amount” has the meaning set forth in Section 2.1(d). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules
and regulations promulgated thereunder. 
 “Existing Investors” has the meaning set forth in
Section 3.2(o). 
 “FDA” has the meaning set forth in
Section 3.1(ll). 
 “GAAP” means U.S. generally accepted accounting principles,
as applied by the Company. 
 “Health Care Laws” has the meaning set forth in
Section 3.1(ll). 
 “HIPAA” has the meaning set forth in
Section 3.1(qq). 
 “Indemnified Person” has the meaning set forth in
Section 4.9. 

  
 3 

 “Intellectual Property Assets” has the meaning set forth in
Section 3.1(p). 
 “Intellectual Property Rights” has the meaning set forth in
Section 3.1(p). 
 “Investment Company Act” has the meaning set forth in
Section 3.1(w). 
 “Irrevocable Transfer Agent Instructions” means, with respect
to the Company, the Irrevocable Transfer Agent Instructions, in the forms of Exhibit E-1 and Exhibit E-2, executed by the Company and
delivered to and acknowledged in writing by the Transfer Agent. 
 “Legacy Alpine” has the meaning set
forth in Section 3.1(p). 
 “Legend Removal Date” has the meaning set forth in
Section 4.1(c). 
 “Lock-Up Agreement”
has the meaning set forth in Section 2.2(a)(ix). 
 “Material Adverse Effect” has
the meaning set forth in Section 3.1(b). 
 “Money Laundering Laws” has the
meaning set forth in Section 3.1(pp). 
 “Net Short Sale” has the meaning set
forth in Section 4.13. 
 “New York Courts” means the state and federal courts
sitting in the City of New York, Borough of Manhattan. 
 “OFAC” has the meaning set forth in
Section 3.1(kk). 
 “Off-Balance Sheet
Transaction” has the meaning set forth in Section 3.1(gg). 
 “Outside
Date” means the thirtieth day following the date of this Agreement. 
 “Permits” has the meaning
set forth in Section 3.1(n). 
 “Person” means an individual, corporation,
partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein. 

“Placement Agent” has the meaning set forth in the Recitals. 

“Preferred Shares” has the meaning set forth in the Recitals. 

“Preferred Stock” has the meaning set forth in the Recitals, and also includes any other class of securities
into which the Preferred Stock may hereinafter be reclassified or changed into. 
 “Preferred Stock Subscription
Amount” means, with respect to each Purchaser, the aggregate amount to be paid for the Preferred Shares and the Warrants Relating to Preferred Shares purchased hereunder as indicated on such Purchaser’s signature page to this Agreement
next to the heading “Preferred Stock Subscription Amount” in United States dollars and in immediately available funds. 

“Preferred Unit Purchase Price” means $5.37 per unit of Preferred Share and Warrant Relating to Preferred
Shares. 

  
 4 

 “Press Release” has the meaning set forth in
Section 4.5. 
 “Principal Trading Market” means the Trading Market on which the
Common Stock is primarily listed on and quoted for trading, which, as of the date of this Agreement and the Closing Date, shall be the Nasdaq Global Market. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an
investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Purchaser”
or “Purchasers” has the meaning set forth in the Preamble. 
 “Purchaser Deliverables” has
the meaning set forth in Section 2.2(b). 
 “Purchaser Party” has the meaning set
forth in Section 4.9. 
 “Registration Rights Agreement” has the meaning set
forth in the Recitals. 
 “Registration Statement” means a registration statement meeting the requirements
set forth in the Registration Rights Agreement and covering the resale by the Purchasers of the Registrable Securities (as defined in the Registration Rights Agreement). 

“Regulation D” has the meaning set forth in the Recitals. 

“Regulation S-X” has the meaning set forth in
Section 3.1(i). 
 “Regulatory Authorities” has the meaning set forth in
Section 3.1(oo). 
 “Required Approvals” has the meaning set forth in
Section 3.1(e). 
 “Restricted Period” has the meaning set forth in
Section 4.14. 
 “Rule 144” means Rule 144 promulgated by
the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Sarbanes-Oxley Act” has the meaning set forth in Section 3.1(s). 

“SEC Reports” has the meaning set forth in Section 3.1(h). 

“Secretary’s Certificate” has the meaning set forth in Section 2.2(a)(vii).

 “Securities” has the meaning set forth in the Recitals. 

“Securities Act” has the meaning set forth in the Recitals. 

“Shares” has the meaning set forth in the Recitals. 

“Short Sales” include, without limitation, (i) all “short sales” as defined in Rule 200
promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, “put equivalent positions”
(as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and (ii) sales and other transactions through
non-U.S. broker dealers or foreign regulated brokers (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock). 

  
 5 

 “Stockholder Approval” has the meaning set forth in
Section 4.16. 
 “Subscription Amount” means the Common Stock Subscription Amount
and the Preferred Stock Subscription Amount. 
 “Subsidiaries” means the consolidated subsidiaries of the
Company. 
 “Threshold Amount” has the meaning set forth in Section 2.1(b). 

“Trading Affiliate” has the meaning set forth in Section 3.2(i). 

“Trading Day” means (i) a day on which the Common Stock is listed or quoted and traded on its Principal
Trading Market (other than the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as reported in the “pink sheets” by Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices);
provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day. 

“Trading Market” means whichever of the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Select
Market, the Nasdaq Global Market, the Nasdaq Capital Market or the OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question. 

“Transaction Documents” means this Agreement, the schedules and exhibits attached hereto, the Warrants, the
Registration Rights Agreement, the Irrevocable Transfer Agent Instructions and any other documents or agreements explicitly contemplated hereunder. 

“Transfer Agent” means American Stock Transfer & Trust Company, LLC, the current transfer agent of
the Company, with a mailing address of 6201 15th Avenue, Brooklyn, New York, 11219, and a facsimile number of (718) 765-8782, or any successor transfer agent for the Company. 

“Treasury” has the meaning set forth in Section 3.2(q). 

“Underlying Shares” means the shares of Common Stock issued or issuable upon conversion of the Preferred
Stock. 
 “Warrant Shares” has the meaning set forth in the Recitals. 

“Warrants” has the meaning set forth in the Recitals to this Agreement. 

“Warrants Relating to Common Shares” has the meaning set forth in the Recitals to this Agreement. 

“Warrants Relating to Preferred Shares” has the meaning set forth in the Recitals to this Agreement. 

“XBRL” has the meaning set forth in Section 3.1(i). 

  
 6 

 ARTICLE II. 

PURCHASE AND SALE 

2.1 Closing. 

(a) Amount. Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue
and sell to each Purchaser, and each Purchaser shall, severally and not jointly, purchase from the Company, (i) such number of shares of Common Stock equal to the quotient resulting from dividing (1) the Common Stock Subscription Amount
for such Purchaser by (2) the Common Unit Purchase Price, rounded down to the nearest whole share of Common Stock; in addition, each Purchaser shall receive a Warrant to purchase a number of Warrant Shares equal to thirty-nine percent (39%) of
the number of shares of Common Stock purchased by such Purchaser, as indicated below such Purchaser’s name on the signature page to this Agreement; and (ii) such number of shares of Preferred Stock equal to the quotient resulting from
dividing (1) the Preferred Stock Subscription Amount for such Purchaser by (2) the Preferred Unit Purchase Price, rounded down to the nearest whole share of Preferred Stock; in addition, each Purchaser shall receive a Warrant to purchase a
number of Warrant Shares equal to thirty-nine percent (39%) of the number of shares of Preferred Stock purchased by such Purchaser, as indicated below such Purchaser’s name on the signature page to this Agreement. The Warrants shall have an
exercise price equal to $12.74 per Warrant Share. 
 (b) Underlying Shares. The Company has authorized and has
reserved and covenants to continue to reserve, free of preemptive rights and other similar contractual rights of stockholders, a number of its authorized but unissued shares of Common Stock equal to the aggregate number of shares of Common Stock
necessary to effect the conversion of the Preferred Stock. The Purchasers acknowledge that the Company shall not be required to issue any shares of Common Stock to a Purchaser upon conversion by such Purchaser (or its assigns) of any shares of the
Preferred Stock to the extent (and only to the extent) that such conversion would result in the Purchaser (including its predecessors-in-interest) beneficially owning
shares of Common Stock in excess of 19.99% of the outstanding shares of Common Stock or the voting power of the Company (the “Threshold Amount”) unless approved by the Company’s stockholders in accordance with the applicable
stockholder approval requirements of Nasdaq Marketplace Rule 5635. 
 (c) Closing. The Closing of the purchase
and sale of the Shares and Warrants shall take place at the offices of Latham & Watkins LLP, 330 N. Wabash Ave., Suite 2800, Chicago, IL 60611, on the Closing Date or at such other locations or remotely by facsimile transmission or other
electronic means as the parties may mutually agree. 
 (d) Form of Payment. Except as may otherwise be agreed to among
the Company and one or more of the Purchasers, on or prior to the Business Day immediately prior to the Closing Date, each Purchaser shall wire its Subscription Amount, in United States dollars and in immediately available funds, to a non-interest bearing escrow account established by the Company and the Placement Agent with American Stock Transfer & Trust Company, LLC (the “Escrow Agent”) as set forth on
Exhibit H hereto (the aggregate amounts received being held in escrow by the Escrow Agent are referred to herein as the “Escrow Amount”). On the Closing Date, (a) the Company and the Placement Agent
shall instruct the Escrow Agent to deliver, in immediately available funds, the Escrow Amount constituting the aggregate purchase price as follows: (1) to the Placement Agent, the fees and reimbursable expenses payable to the Placement Agent
(which fees and expenses shall be set forth in such instructions), and (2) the balance of the aggregate purchase price to the Company, (b) the Company shall irrevocably instruct the Transfer Agent to issue to each Purchaser in book-entry
form in an amount equal to the number of Common Shares and Preferred Shares such Purchaser is purchasing, free and clear of all restrictive and other legends (except as expressly provided in Section 4.1(b) hereof), the
number of Shares such Purchaser is purchasing as is set forth on such Purchaser’s signature page 

  
 7 

 
to this Agreement next to the heading “Number of Common Shares to be Acquired” and “Number of Preferred Shares to be Acquired”, respectively, within one (1) Trading Day
after the Closing and (c) the Company shall deliver to each Purchaser one or more Warrants in physical form, free and clear of all restrictive and other legends (except as expressly provided in Section 4.1(b) hereof or
in Exhibit A), evidencing the number of Warrants such Purchaser is purchasing as is set forth on such Purchaser’s signature page to this Agreement next to the heading “Underlying Shares Subject to Warrant Related
to Common Shares” and “Underlying Shares Subject to Warrant Relating to Preferred Shares”, within three (3) Trading Days after the Closing. 

(e) Purchase Price Allocation. The Company and the Purchasers shall use commercially reasonable efforts to agree on a
reasonable allocation of (i) the Common Stock Subscription Amount between the Common Shares and the Warrants Relating to Common Shares and (ii) the Preferred Stock Subscription Amount between the Preferred Shares and the Warrants Relating
to the Preferred Shares. The Company and the Purchasers agree to file all relevant tax returns in a manner consistent with the allocation agreed to pursuant to this Section 2.1(e). 

2.2 Closing Deliveries. (a) On or prior to the Closing, the Company shall issue, deliver or cause to be delivered
to each Purchaser the following (the “Company Deliverables”): 
 (i) this Agreement, duly executed by the
Company; 
 (ii) [reserved]; 

(iii) facsimile copies of the Warrants, executed by the Company and registered in the name of such Purchaser as set forth on
the Book-Entry Questionnaire included as Exhibit C-2 hereto, pursuant to which such Purchaser shall have the right to acquire such number of Warrant Shares equal to thirty-nine
percent (39%) of the number of Shares issuable to such Purchaser, rounded down to the nearest whole share, on the terms set forth therein, with the original Warrants delivered within three (3) Trading Days of Closing; provided,
however, that the receipt of such facsimile copies shall be conditioned on the Company receiving a completed Book-Entry Questionnaire from such Purchaser no later than 3:00 p.m., Eastern time, on the Business Day prior to the Closing Date;

 (iv) a legal opinion of Company Counsel, dated as of the Closing Date and in the form attached hereto as
Exhibit D, executed by such counsel and addressed to the Purchasers and the Placement Agent; 

(v) the Registration Rights Agreement, duly executed by the Company; 

(vi) duly executed Irrevocable Transfer Agent Instructions instructing the Transfer Agent to deliver a book-entry statement
evidencing the number of Shares equal to such Purchaser’s (1) shares of Common Stock set forth below such Purchaser’s name on the signature page of this Agreement, and (2) shares of Preferred Stock set forth below such
Purchaser’s name on the signature page of this Agreement, in each case registered in the name of such Purchaser; 

(vii) a certificate of the Secretary of the Company (the “Secretary’s Certificate”), dated
as of the Closing Date, (a) certifying the resolutions adopted by the Board of Directors of the Company or a duly authorized committee thereof approving the transactions contemplated by this Agreement and the other Transaction Documents and the
issuance of the Securities, (b) certifying the current versions of the certificate of incorporation, as amended, and bylaws of the Company and (c) certifying as to the signatures and authority of persons signing the Transaction Documents
and related documents on behalf of the Company, in the form attached hereto as Exhibit F; 

  
 8 

 (viii) the Compliance Certificate referred to in
Section 5.1(i); 
 (ix) a Lock-Up Agreement, substantially
in the form of Exhibit I hereto (the “Lock-Up Agreement”) executed by each person listed on Exhibit J hereto, and each such Lock-Up Agreement shall be in full force and effect on the Closing Date; 
 (x) a
certificate evidencing the good standing of the Company issued by the Secretary of State of the State of Delaware, as of a date within three (3) Business Days of the Closing Date; 

(xi) a certificate of existence and authorization issued by the Secretary of State of the State of Washington, as of a date
within three (3) Business Days of the Closing Date; and 
 (xii) a certified copy of the Certificate of Incorporation
of the Company, as certified by the Secretary of State of the State of Delaware, as of a date within three (3) Business Days of the Closing Date. 

(b) On or prior to the Closing, each Purchaser shall deliver or cause to be delivered to the Company the following (the
“Purchaser Deliverables”): 
 (i) this Agreement, duly executed by such Purchaser; 

(ii) its Subscription Amount, in United States dollars and in immediately available funds, in the amount set forth as the
“Common Stock Subscription Amount” and/or the “Preferred Stock Subscription Amount”, as applicable, indicated below such Purchaser’s name on the applicable signature page hereto by wire transfer to the Escrow Account, as set
forth on Exhibit H attached hereto, which Subscription Amount must be wired no later than the Business Day immediately prior to the Closing Date; 

(iii) the Registration Rights Agreement, duly executed by such Purchaser; 

(iv) a fully completed and duly executed Selling Stockholder Questionnaire in the form attached as
Annex B to the Registration Rights Agreement; and 
 (v) a fully completed and duly executed
Accredited Investor Questionnaire, satisfactory to the Company, and Book-Entry Questionnaire in the forms attached hereto as Exhibits C-1 and
C-2, respectively, which Accredited Investor Questionnaire and Book-Entry Questionnaire must be received by the Company no later than 3:00 p.m., Eastern time, on the Business Day immediately prior to
the Closing Date. 
 ARTICLE III. 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. Except as disclosed in the SEC Reports, the Company hereby
represents and warrants as of the date hereof and the Closing Date (except for the representations and warranties that speak as of a specific date, which shall be made as of such date), to each of the Purchasers and to the Placement Agent: 

(a) Subsidiaries. The Company does not own or control, directly or indirectly, any corporation, association or other
entity other than the subsidiaries listed in Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 except for subsidiaries that in the
aggregate would not constitute a “significant subsidiary” (as defined in Rule 405 under the Securities Act). The Company’s wholly-owned subsidiary, AIS Operating Co., Inc., is a “significant subsidiary” (as defined in
Rule 405 under the Securities Act). 

  
 9 

 (b) Organization and Qualification. The Company and each of its
Subsidiaries have been duly organized, are validly existing as corporations or limited liability entities and are in good standing under the laws of their respective jurisdictions of organization, except where the failure to be so duly organized,
validly existing and in good standing would not reasonably be expected to have a Material Adverse Effect. The Company and each of its Subsidiaries are, and will be, duly licensed or qualified as a foreign corporation for the transaction of business
and in good standing under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority
necessary to own or hold their respective properties and to conduct their respective businesses as described in the SEC Reports, except where the failure to be so qualified or in good standing or have such power or authority would not, individually
or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects,
stockholders’ equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with the consummation of the transactions contemplated hereby (a “Material Adverse Effect”);
provided, however, that any of the following, either alone or in combination, shall not be deemed a Material Adverse Effect: (i) effects caused by changes or circumstances affecting general market conditions in the U.S. economy or
which are generally applicable to the industry in which the Company operates, provided that such effects are not borne disproportionately by the Company, (ii) effects resulting from or relating to the announcement or disclosure of the
sale of the Securities or other transactions contemplated by the Transaction Documents, or (iii) effects caused by any event, occurrence or condition resulting from or relating to the taking of any action in accordance with the Transaction
Documents. 
 (c) Authorization. The Company has all requisite corporate power and authority to execute, deliver and
perform its obligations contemplated by each of the Transaction Documents to which it is a party. Each of the Transaction Documents to which the Company is a party has been duly and validly authorized, executed and delivered by the Company. 

(d) No Conflicts. The issue and sale of the Shares and the Warrants and the reservation for issuance and issuance of the
Warrant Shares and the Underlying Shares, the execution, delivery and performance of the Transaction Documents to which the Company is a party and the consummation of the transactions contemplated by the Transaction Documents will not
(i) conflict with or result in a breach or violation of any of the terms or provisions of, impose any lien, charge or encumbrance upon any property or assets of the Company and its Subsidiaries, or constitute a default under, any indenture,
mortgage, deed of trust, loan agreement, license, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets
of the Company or any of its Subsidiaries is subject; (ii) result in any violation of the provisions of the certificate of incorporation, charter or bylaws (or similar organizational documents) of the Company or any of its Subsidiaries; or
(iii) result in any violation of any statute or any judgment, order, decree, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its Subsidiaries or any of their properties or assets,
except, with respect to clauses (i) and (iii), for such conflicts, breaches, violations, liens, charges, encumbrances or defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(e) Filings, Consents and Approvals. No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental agency or body having jurisdiction over the Company or any of its Subsidiaries or any of their respective properties or assets is required for the issue and sale of the Securities, the execution,
delivery and performance by the Company of the Transaction Documents to which the Company is a party, the consummation of the transactions contemplated by the 

  
 10 

 
Transaction Documents, except for (i) such consents, approvals, authorizations, orders, filings, registrations or qualifications as may be required under the Exchange Act, (ii) the
filing with the Commission of one or more Registration Statements in accordance with the requirements of the Registration Rights Agreement, (iii) filings required by applicable state or foreign securities laws, (iv) the filing of a Notice
of Sale of Securities on Form D with the Commission under Regulation D of the Securities Act, (v) the filing of any requisite notices and/or application(s) to the Principal Trading Market for the issuance and sale of the Securities
and the listing of the Shares, the Warrant Shares and the Underlying Shares for trading or quotation, as the case may be, thereon in the time and manner required thereby, (vi) the filings required in accordance with
Section 4.5 of this Agreement and (vii) those that have been made or obtained prior to the date of this Agreement (collectively, the “Required Approvals”). 

(f) Issuance of the Securities. The Shares have been duly authorized and, when issued and paid for in accordance with
the terms of the Transaction Documents, will be duly authorized and validly issued, fully paid and nonassessable and free and clear of all liens, other than restrictions on transfer provided for in the Transaction Documents or imposed by applicable
securities laws, and shall not be subject to preemptive or similar rights. The Warrants have been duly authorized and, when issued and paid for in accordance with the terms of the Transaction Documents, will be duly authorized and validly issued,
free and clear of all liens, other than restrictions on transfer provided for in the Transaction Documents or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights. The Warrant Shares issuable upon exercise
of the Warrants have been duly authorized and, when issued and paid for in accordance with the terms of the Transaction Documents and the Warrants, will be duly authorized and validly issued, fully paid and nonassessable, free and clear of all
liens, other than restrictions on transfer provided for in the Transaction Documents or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights. Assuming the accuracy of the representations and warranties of
the Purchasers in this Agreement, the Securities will be issued in compliance with all applicable federal and state securities laws. As of the Closing Date, the Company shall have reserved from its duly authorized capital stock the number of shares
of Common Stock issuable upon exercise of the Warrants (without taking into account any limitations on the exercise of the Warrants set forth in the Warrants). The Company shall, so long as any of the Warrants are outstanding, take all action
necessary to reserve and keep available out of its authorized and unissued capital stock, solely for the purpose of effecting the exercise of the Warrants, the number of shares of Common Stock issuable upon exercise of the Warrants (without taking
into account any limitations on the exercise of the Warrants set forth in the Warrants). The Underlying Shares to be issued upon conversion of the Preferred Stock have been duly authorized and, when issued and paid for in accordance with the terms
of the Transaction Documents and as set forth in the Certificate of Designation, will be validly issued, free and clear of all liens, other than restrictions on transfer provided in the Transaction Documents or imposed by applicable securities laws
and the rules and regulations of the Trading Market, and shall not be subject to preemptive or similar rights, and the holders shall be entitled to all rights accorded to a holder of Common Stock. 

(g) Capitalization. The authorized capital of the Company consists of 200,000,000 shares of Common Stock, 13,854,205 of
which are issued and outstanding as of December 31, 2018, and 10,000,000 shares of preferred stock, par value $0.001 per share, none of which are currently issued and outstanding as of December 31, 2018. Under the Company’s Plans (as
defined below) (i) options to acquire 2,509,850 shares of Common Stock have been granted and are currently outstanding as of December 31,2018, (ii) no restricted shares of Common Stock have been granted and are currently outstanding as of
December 31, 2018, and (iii) 496,530 shares of Common Stock remain available for future issuance as of December 31, 2018 to directors, executive officers, employees and consultants of the Company pursuant to the Company’s 2018 Equity
Incentive Plan (the “2018 Plan”) (which figure excludes an automatic increase on January 1, 2019 of 692,710 shares of Common Stock available for future issuance under the 2018 Plan). Since December 31, 2018, the Company
has not issued any equity securities, other than those issued pursuant to the 2018 Plan and any of the Company’s other equity incentive plans disclosed in the SEC Reports 

  
 11 

 
(including employee stock purchase plans and any inducement equity plans or awards established in compliance with Nasdaq Marketplace Rules) (collectively, together with the 2018 Plan, the
“Plans”) . The Company has outstanding warrants to purchase 24,123 shares of Common Stock as of December 31, 2018 (the “Outstanding Warrants”). Except as set forth in the Company SEC Reports, and other than the
shares of Common Stock reserved for issuance under the 2018 Plan and the Outstanding Warrants, there are no outstanding options, rights (including conversion or preemptive rights and rights of first refusal), proxy or shareholder agreements, or
agreements of any kind for the purchase or acquisition from the Company of any of its securities. The Company has an authorized capitalization as set forth in the SEC Reports, and all of the issued shares of the Company have been duly authorized and
validly issued, are fully paid and non-assessable, conform in all material respects to the description thereof contained in the SEC Reports and were not issued in violation of any preemptive right, resale
right, right of first refusal or similar right. All of the Company’s options, warrants and other rights to purchase or exchange any securities for shares of the Company’s capital stock have been duly authorized and validly issued, and
conform in all material respects to the description thereof contained in the SEC Reports. All of the issued shares of capital stock or other ownership interests of each Subsidiary of the Company have been duly authorized and validly issued, are
fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims, except for such liens, encumbrances, equities or claims as
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Person is entitled to preemptive rights, rights of first refusal, rights of participation or similar rights with respect to any securities of
the Company, including with respect to the issuance of Shares contemplated hereby. Except as set forth in the Company SEC Documents, there are no voting agreements, registration rights agreements or other agreements of any kind between the Company
and any other Person relating to the securities of the Company, including the Common Shares, Preferred Shares, Warrants and Warrant Shares. 

(h) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be
filed by it under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and
has filed any such SEC Reports prior to the expiration of any such extension, except where the failure to file on a timely basis would not have or reasonably be expected to result in a Material Adverse Effect (including, for this purpose only, any
failure to qualify to register the Shares, the Warrant Shares and the Underlying Shares for resale on Form S-1 or which would prevent any Purchaser from using Rule 144 to resell any Securities). As
of their respective filing dates, or to the extent corrected by a subsequent restatement, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the
Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in
light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. 

(i) Financial Statements. The historical financial statements (including the related notes and supporting schedules)
included in the SEC Reports comply as to form in all material respects with the requirements of Regulation S-X under the Securities Act
(“Regulation S-X”) and present fairly, in all material respects, the financial condition, results of operations and cash flows of the entities purported to be shown thereby
at the dates and for the periods indicated and have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved. All disclosures contained in the SEC Reports regarding
“non-GAAP financial measures” (as defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item 10 of
Regulation S-K of the Securities Act, to the extent applicable. There are no financial statements (historical or pro forma) that are required to be included in the SEC Reports that are not so included as
required. The interactive data in eXtensible Business Reporting Language (“XBRL”) included or incorporated by reference in the SEC Reports fairly present the information called for in all material respects and have been prepared in
accordance with the Commission’s rules and guidelines applicable thereto. 

  
 12 

 (j) Material Changes. Except as would not, in the aggregate,
reasonably be expected to have a Material Adverse Effect, since the date of the latest audited financial statements included in the SEC Reports, and, except as disclosed in a subsequent SEC Report filed prior to the date hereof, neither the Company
nor any of its Subsidiaries has (i) sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or
decree, (ii) issued or granted any securities (other than pursuant to employee benefit plans, qualified stock option plans or other equity compensation plans or arrangements existing on the date hereof and disclosed in the SEC Reports), (iii)
incurred any material liability or obligation, direct or contingent, other than liabilities and obligations that were incurred in the ordinary course of business, (iv) entered into any material transaction not in the ordinary course of
business, or (v) declared or paid any dividend on its share capital; and since such date, except as disclosed in the SEC Reports, there has not been any change in the share capital, long-term debt, net current assets or short-term debt of the
Company or any of its Subsidiaries or any adverse change, or any development involving a prospective adverse change, in or affecting the condition (financial or otherwise), prospects, results of operations, stockholders’ equity, properties,
management or business of the Company and its Subsidiaries taken as a whole. 
 (k) Litigation. Except as disclosed in
the SEC Reports, there are no legal or governmental proceedings pending to which the Company or any of its Subsidiaries is a party or of which any property or assets of the Company or any of its Subsidiaries is the subject that, if determined
adversely to the Company, would, in the aggregate, reasonably be expected to have a Material Adverse Effect or would, in the aggregate, reasonably be expected to have a material adverse effect on the performance of the Transaction Documents or the
consummation of the transactions contemplated by the Transaction Documents; and to the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or others. 

(l) No Labor Dispute; Compliance with Labor Laws. No labor disturbance by or dispute with the employees of the Company
or any of its Subsidiaries exists or, to the knowledge of the Company, is imminent that could reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of or has received written notice
of any violation with respect to any federal or state law relating to discrimination in the hiring, promotion or pay of employees, nor any applicable federal or state wage and hour laws, nor any state law precluding the denial of credit due to the
neighborhood in which a property is situated, the violation of any of which could reasonably be expected to have a Material Adverse Effect. 

(m) No Default. Except as disclosed in the SEC Reports, neither the Company nor any of its Subsidiaries (i) is in
violation of its certificate of incorporation, charter or bylaws (or similar organizational documents), (ii) is in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance
or observance of any term, covenant, condition or other obligation contained in any indenture, mortgage, deed of trust, loan agreement, license or other agreement or instrument to which it is a party, by which it is bound or to which any of its
properties or assets is subject, or (iii) is in violation of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over it or its property or assets or (iv) has failed to obtain any
license, permit, certificate, franchise or other governmental authorization or permit necessary to the ownership of its property or to the conduct of its business, except in the case of clauses (ii) and (iii), to the extent any such conflict,
breach, violation or default would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 13 

 (n) Regulatory Permits. The Company and its Subsidiaries possess all
material certificates, authorizations, clearances, approvals, registrations, exemptions, licenses or permits required by state, federal or foreign regulatory agencies or bodies to conduct their respective businesses as currently conducted and as
described in the SEC Reports (“Permits”), and all such Permits are valid, current and in full force and effect, except where the failure to so possess or be valid, current and in full force and effect would not, individually or in
the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of, or in default under, any of the Permits or has received any notice of proceedings relating to the
revocation or modification of, or non-compliance with, any such certificate, authorization or permit. Neither the Company nor any of its Subsidiaries has received any notice of proceedings relating to the
revocation or modification of any Permits which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to result in a Material Adverse Effect. The Company has not received any written
notice denying, revoking or modifying any “approved enterprise,” “benefited enterprise” or “preferred enterprise” status with respect to any of the Company’s facilities or operations. 

(o) Title to Assets. The Company and each of its Subsidiaries have good and marketable title in fee simple to all real
property and good and marketable title to all personal property owned by them, that are material to the business of the Company, in each case free and clear of all liens, encumbrances and defects, except for such liens, encumbrances and defects as
do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries. All assets held under lease by the Company and its Subsidiaries, that
are material to the business of the Company, are held by them under valid, subsisting and enforceable leases, with such exceptions as do not materially interfere with the use made and proposed to be made of such assets by the Company and its
Subsidiaries. 
 (p) Patents and Trademarks. To the knowledge of the Company, the Company and its Subsidiaries own or
possess the valid right to use all (i) patents, patent applications, trademarks, trademark registrations, service marks, service mark registrations, internet domain name registrations, copyrights, copyright registrations, licenses and trade
secret rights (collectively, “Intellectual Property Rights”) and (ii) inventions, software, works of authorships, trademarks, service marks, trade names, databases, formulae, know how, Internet domain names and other
intellectual property (including trade secrets and other unpatented and/or unpatentable proprietary confidential information, systems, or procedures) (collectively, “Intellectual Property Assets”) necessary to conduct their
respective businesses as currently conducted, and as proposed to be conducted and described in the SEC Reports. The Company and its subsidiaries have not received written notice of any challenge, which is still pending, by any other person to the
rights of the Company and its Subsidiaries with respect to any Intellectual Property Rights or Intellectual Property Assets owned or used by the Company or its Subsidiaries, except as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. To the knowledge of the Company, the Company and its Subsidiaries’ respective businesses as now conducted do not give rise to any material infringement of, any material misappropriation of, or other
material violation of, any valid and enforceable Intellectual Property Rights of any other person. To the knowledge of the Company, all licenses for the use of the Intellectual Property Rights described in the SEC Reports are valid, binding upon and
enforceable by or against the parties thereto in accordance with their terms. The Company has complied in all material respects with, and is not in breach nor has received any asserted or threatened claim of material breach of any Intellectual
Property license, and the Company has no knowledge of any material breach by any other person to any Intellectual Property license to which the Company is a party. No claim has been made, and is currently pending, against the Company alleging the
infringement by the Company of any patent, trademark, service mark, trade name, copyright, trade secret, license in or other Intellectual Property Right or franchise right of any person, and, to the knowledge of the Company, there are no facts that
would form a reasonable basis for such claim, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has taken all reasonable steps to protect, maintain and safeguard its

  
 14 

 
Intellectual Property Rights, including the execution of appropriate nondisclosure and confidentiality agreements. The consummation of the transactions contemplated hereby will not result in the
loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any other person in respect of, the Company’s right to own, use, or hold for use any of the Intellectual Property Rights as owned, used or
held for use in the conduct of the business as currently conducted. To the knowledge of the Company, no employee of Legacy Alpine and, since July 24, 2017, no employee of the Company is in, or has ever been, in violation in any material respect
of any term of any employment contract, patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure
agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s employment with the Company, or actions undertaken by the employee while employed with the Company. For purposes of
this section, “Legacy Alpine” means Alpine Immune Sciences, Inc., which was the surviving entity following its merger with a wholly-owned subsidiary of Nivalis Therapeutics, Inc. on July 24, 2017 and renamed as AIS Operating
Co., Inc. 
 (q) Insurance. Except as would not reasonably be expected to have a Material Adverse Effect, the Company
and each of its Subsidiaries maintain insurance from nationally recognized, in the applicable country, insurers in such amounts and covering such risks as is commercially reasonable in accordance with customary practices for companies engaged in
similar businesses and similar industries for the conduct of their respective businesses and the value of their respective properties and as is customary for companies engaged in similar businesses in similar industries. All insurance policies of
the Company and its Subsidiaries are in full force and effect; the Company and each of its Subsidiaries are in compliance with the terms of such policies in all material respects; neither the Company nor any of its Subsidiaries has received notice
from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance; there are no material claims by the Company or any of its Subsidiaries under any such
policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; and neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not reasonably be expected to have a Material Adverse Effect. 

(r) Transactions With Affiliates and Employees. No relationship, direct or indirect, exists between or among the
Company, on the one hand, and the directors, officers, stockholders, customers or suppliers of the Company, on the other hand, that is required to be described in the SEC Reports that is not so described. 

(s) Internal Accounting Controls. The Company and each of its Subsidiaries maintain internal accounting controls
designed to provide reasonable assurances regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including, but not limited to, internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization, (ii) transactions are recorded as necessary to permit preparation of the Company’s
financial statements in conformity with GAAP and to maintain accountability for its assets, (iii) access to the Company’s assets is permitted only in accordance with management’s general or specific authorization, (iv) the
recorded accountability for the Company’s assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences, and (v) the interactive data in XBRL included or incorporated by
reference in the SEC Reports fairly present the information called for in all material respects and are prepared in accordance with the Commission’s rules and guidelines applicable thereto (it being understood that this subsection shall not to
require the Company to comply with Section 404 of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated thereunder (collectively, the “Sarbanes-Oxley Act”) as of an earlier date than it would
otherwise be required to so comply under applicable law). Except as disclosed in the SEC Reports, as of the date of the most recent balance sheet of the Company and its consolidated subsidiaries audited by Ernst & Young LLP, there were no
material weaknesses in the Company’s internal controls. 

  
 15 

 (t) Sarbanes-Oxley Compliance. There is and has been no failure on
the part of the Company or, to the knowledge of the Company, any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act that are applicable to the Company or its directors or
officers in their capacities as directors or officers of the Company. 
 (u) No Other Brokers. Neither the Company nor
any of its Subsidiaries is a party to any contract, agreement or understanding with any person (other than with the Placement Agent) that would give rise to a valid claim against any of them or the Placement Agent for a brokerage commission,
finder’s fee or like payment in connection with the offering and sale of the Securities. 
 (v) Private
Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2 of this Agreement and the accuracy of the information disclosed in the Accredited Investor Questionnaires
provided by the Purchasers, no registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers under the Transaction Documents. Assuming the making and the obtaining of the Required
Approvals, the issuance and sale of the Securities hereunder does not contravene the rules and regulations of the Trading Market. 

(w) Investment Company The Company is not, and will not be, after giving effect to the offer and sale of the Securities
and the application of the proceeds therefrom as described in Section 4.8, (i) required to register as an “investment company” (within the meaning of the Investment Company Act of 1940, as amended (the
“Investment Company Act”)) or (ii) a “business development company” (as defined in Section 2(a)(48) of the Investment Company Act). 

(x) Registration Rights. Except as disclosed in the SEC Reports and other than each of the Purchasers, there are no
contracts, agreements or understandings between the Company and any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company owned or to be
owned by such person. There are no contracts, agreements or understandings to require the Company to include any such securities in the Securities proposed to be offered pursuant to the Transaction Documents, except for such contracts, agreements or
understandings that have been validly waived in writing prior to the date hereof. 
 (y) Exchange Act Registration and
Listing of the Common Stock. The Company’s Common Stock is registered pursuant to Section 12(b) of the Exchange Act and listed on the Principal Trading Market; the Company has taken no action designed to, or reasonably likely to have
the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from the Principal Trading Market, nor has the Company received any notification that the Commission or FINRA is contemplating
terminating such registration or listing. 
 (z) Application of Takeover Protections; Rights Agreements. The Company
and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s charter documents or the laws of its state of incorporation that is or could reasonably be expected to become applicable to any of the Purchasers as a result of the
Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including, without limitation, the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

  
 16 

 (aa) Disclosure. The Company confirms that it has not provided, and
to the knowledge of the Company, none of its officers or directors nor any other Person acting on its or their behalf has provided, and it has not authorized the Placement Agent to provide, any Purchaser or its respective agents or counsel with any
information that it believes constitutes material, non-public information regarding the Company or its Subsidiaries except (i) insofar as the existence, provisions and terms of the Transaction Documents
and the proposed transactions hereunder may constitute such information, all of which will be disclosed by the Company in the Press Release as contemplated by Section 4.5 hereof or (ii) to such Purchaser, prior to such
disclosure, that has executed a written agreement regarding the confidentiality and use of such information. The Company understands and confirms that the Purchasers will rely on the foregoing representations in effecting transactions in securities
of the Company. 
 (bb) No Integrated Offering. Assuming the accuracy of the Purchasers’ representations and
warranties set forth in Section 3.2, none of the Company, its Subsidiaries nor, to the knowledge of the Company, any of its Affiliates or any Person acting on its behalf has, directly or indirectly, at any time within the
past six (6) months, made any offers or sales of any Company security or solicited any offers to buy any security under circumstances that would (i) eliminate the availability of the exemption from registration under Regulation D
under the Securities Act in connection with the offer and sale by the Company of the Securities as contemplated hereby or (ii) cause the offering of the Securities pursuant to the Transaction Documents to be integrated with prior offerings by
the Company for purposes of any applicable law, regulation or stockholder approval provisions, including, without limitation, under the rules and regulations of any Trading Market on which any of the securities of the Company are listed or
designated. 
 (cc) Tax Matters. The Company and each of its Subsidiaries have filed all federal, state, local and
foreign tax returns required to be filed through the date hereof, subject to permitted extensions (except where the failure to file would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect), and have paid
all taxes due (except where the failure to pay would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect), and no tax deficiency has been determined adversely to the Company or any of its Subsidiaries, nor
does the Company have any knowledge of any tax deficiencies that have been, or would reasonably be expected to be asserted against the Company, that would, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(dd) Environmental Matters. Except as disclosed in the SEC Reports, the Company and each of its Subsidiaries
(i) are, and at all times since January 1, 2015 were, in compliance with all laws, regulations, ordinances, rules, orders, judgments, decrees, permits or other legal requirements of any governmental authority, including without limitation
any international, foreign, national, state, provincial, regional, or local authority, relating to pollution, the protection of human health or safety, the environment, or natural resources, or to use, handling, storage, manufacturing,
transportation, treatment, discharge, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”) applicable to such entity, which compliance includes, without
limitation, obtaining, maintaining and complying with all permits and authorizations and approvals required by Environmental Laws to conduct their respective businesses, and (ii) have not received written notice or otherwise have knowledge of
any actual or alleged violation of Environmental Laws, or of any actual or potential liability for or other obligation concerning the presence, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except in the
case of clause (i) or (ii) where such non-compliance, violation, liability or other obligation would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except
as described in the SEC Reports, (x) there are no proceedings that are pending, or to the Company’s knowledge, threatened, against the Company or any of its Subsidiaries under Environmental Laws in which a governmental authority is also a
party, other than such proceedings regarding which it is reasonably believed no monetary sanctions of $100,000 or more will be imposed, (y) the Company and its Subsidiaries are not aware of any issues regarding compliance with Environmental
Laws, including any pending or proposed Environmental Laws, or liabilities or other obligations under Environmental Laws or concerning hazardous or toxic substances or wastes, pollutants or contaminants, that could reasonably be expected to have a
material effect on the capital expenditures, earnings or competitive position of the Company and its Subsidiaries and (z) none of the Company and its Subsidiaries anticipates material capital expenditures relating to Environmental Laws. 

  
 17 

 (ee) No General Solicitation. The Company has not offered or sold any
of the Securities by any form of general solicitation or general advertising. 
 (ff) Foreign Corrupt Practices Act.
Neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or any of its Subsidiaries, has: (i) used any
corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from
corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, the Organization for Economic Co-operation and Development Convention on Bribery of
Foreign Public Officials in International Business Transactions, and the rules and regulations thereunder and any other similar foreign or domestic law or regulation; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other
unlawful payment. The Company has instituted and maintains policies and procedures designed to ensure continued compliance with the laws and regulations referenced in clause (iii) of this paragraph. 

(gg) Off Balance Sheet Arrangements. There are no transactions, arrangements or other relationships between and/or among
the Company, and/or, to the knowledge of the Company, any of its Affiliates and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or limited purpose entity (each, an “Off-Balance Sheet Transaction”) that could reasonably be expected to materially affect the Company’s liquidity or the availability of or requirements for its capital resources, including those Off-Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), and are required to be described in the SEC Reports, which have not been described as required. 

(hh) Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of
the Purchasers is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges that no Purchaser is acting as a
financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their respective representatives or agents
in connection with the Transaction Documents and the transactions contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s decision to
enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. 

(ii) Regulation M Compliance. The Company and its controlled affiliates have not taken, directly or
indirectly, any action designed to or that has constituted or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company in connection with the offering of the Securities.

 (jj) PFIC. Subject to the qualifications and assumptions set forth in the SEC Reports, the Company is not, and upon
the sale of the Shares and Warrants contemplated hereby does not expect to become, a “passive foreign investment company” (as defined in Section 1297 of the Internal Code Revenue Code of 1986, as amended, and the regulations
promulgated thereunder). 

  
 18 

 (kk) OFAC. Neither the Company nor any of its Subsidiaries nor, to
the knowledge of the Company, any director, officer, agent, employee or controlled affiliate of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of the Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or
other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

(ll) Compliance with Healthcare Laws and Regulations. The Company and, to the knowledge of the Company, its directors,
officers, employees, and agents (while acting in such capacity) are, and at all times prior to the date hereof have been, in compliance with, all health care laws and regulations applicable to the Company or any of its product candidates or
activities, including development and testing of pharmaceutical products, kickbacks, recordkeeping, documentation requirements, the hiring of employees (to the extent governed by Health Care Laws, as defined below), quality, safety, privacy,
security, licensure, accreditation or any other aspect of developing and testing health care or pharmaceutical products (collectively, “Health Care Laws”), except where such noncompliance would not, individually or in the aggregate,
have a Material Adverse Effect. The Company has not received any notification, correspondence or any other written or oral communication, including notification of any pending or threatened claim, suit, proceeding, hearing, enforcement,
investigation, arbitration or other action from any governmental authority, including, without limitation, the U.S. Food and Drug Administration (“FDA”), the U.S. Drug Enforcement Administration, the Centers for Medicare &
Medicaid Services and the U.S. Department of Health and Human Services Office of Inspector General, of potential or actual non-compliance by, or liability of, the Company under any Health Care Laws. To the
Company’s knowledge, there are no facts or circumstances that would reasonably be expected to give rise to liability of the Company under any Health Care Laws, except that would not individually or in the aggregate have a Material Adverse
Effect. 
 (mm) Shell Company. The Company is not an “ineligible issuer” (as defined in Rule 405
promulgated under the Securities Act). 
 (nn) No Additional Agreements. The Company does not have any agreement or
understanding with any Purchaser with respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents or any written agreement regarding the confidentiality and use of confidential
information. 
 (oo) Clinical Trials. The clinical and pre-clinical trials
conducted by or on behalf of or sponsored by the Company, or in which the Company has participated, that are described in the SEC Reports or the results of which are referred to in the SEC Reports, were and, if still pending, are being conducted in
accordance with standard medical and scientific research procedures and all applicable statutes, rules and regulations of the FDA and comparable drug regulatory agencies outside of the United States to which they are subject (collectively, the
“Regulatory Authorities”), including, without limitation, 21 C.F.R. Parts 50, 54, 56, 58 and 312, and current Good Clinical Practices and Good Laboratory Practices; the descriptions in the SEC Reports of the results of such studies
and trials are accurate and complete and fairly present the data derived from such trials; the Company has no knowledge of any other trials the results of which are inconsistent with or otherwise call into question the results described or referred
to in the SEC Reports; the Company and its Subsidiaries have each operated and are currently in compliance with all applicable statutes, rules and regulations of the Regulatory Authorities, except where such noncompliance would not, individually or
in the aggregate, have a Material Adverse Effect; and neither the Company, nor any of its Subsidiaries, has received any written notices, correspondence or other communication from the Regulatory Authorities or any governmental authority which
threatens the termination or suspension of any clinical or pre-clinical trials that are described in the SEC Reports or the results of which are referred to in the SEC Reports, and there are no reasonable
grounds for same. 

  
 19 

 (pp) Anti-Money Laundering Compliance. The operations of the Company
and its Subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes
of all applicable jurisdictions, the rules and regulations thereunder and any applicable related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering
Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the
knowledge of the Company, threatened. 
 (qq) Compliance with Applicable Laws and Regulations. Except as described in
the Registration Statement and the Prospectus, as applicable, the Company and its Subsidiaries: (i) are and at all times have been in compliance with all statutes, rules and regulations applicable to the ownership, testing, development,
manufacture, packaging, processing, use, distribution, marketing, advertising, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product manufactured or distributed by the Company including, without limitation the
Federal Food, Drug and Cosmetic Act (21 U.S.C. §301 et seq.), the Public Health Service Act (42 U.S.C. §201 et seq.), the federal Anti-Kickback Statute (42 U.S.C. §1320a-7b(b)), the civil False
Claims Act (31 U.S.C. §3729 et seq.), the administrative False Claims Law (42 U.S.C. §1320a-7b(a)), the federal Physician Payment Sunshine Act (42 U.S.C.
§1320a-7h), the Civil Monetary Penalties Law (42 U.S.C. §1320a-7a), the exclusion laws (42 U.S.C. §1320a-7), all
criminal laws relating to health care fraud and abuse, including, but not limited to, 18 U.S.C. §286-287, the criminal health care fraud provisions of the Health Insurance Portability and Accountability
Act of 1996 (18 U.S.C. §1035 and 1347) (“HIPAA”), Medicare (Title XVIII of the Social Security Act), Medicaid (Title XIX of the Social Security Act), HIPAA, as amended by the Health Information Technology for Economic and
Clinical Health Act of 2009, and the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Affordability Reconciliation Act of 2010, the regulations promulgated pursuant to such laws, and any successor
government programs and comparable state laws, regulations relating to Good Clinical Practices and Good Laboratory Practices, collection and reporting requirements and the processing of any applicable rebate, chargeback or adjustment, under
applicable rules and regulations relating to the Medicaid Drug Rebate Program (42 U.S.C. §1396r-8), any state supplemental rebate program, Medicare average sales price reporting (42 U.S.C. §1395w-3a), the Public Health Service Act (42 U.S.C. §256b), the VA Federal Supply Schedule (38 U.S.C. §8126) or under any state pharmaceutical assistance program or U.S. Department of Veterans
Affairs agreement, and any successor government programs, and all other local, state, federal, national, supranational and foreign laws, manual provisions, policies and administrative guidance relating to the regulation of the Company (collectively,
the “Applicable Laws”), except where such noncompliance would not, individually or in the aggregate, have a Material Adverse Effect; (ii) have not received any written notice from any court or arbitrator or governmental or
regulatory authority or third party alleging or asserting noncompliance with any Applicable Laws or any Permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”); (iii) possess all
Authorizations and such Authorizations are valid and in full force and effect and are not in violation of any term of any such Authorizations; (iv) have not received written notice of any claim, action, suit, proceeding, hearing, enforcement,
investigation arbitration or other action from any court or arbitrator or governmental or regulatory authority or third party alleging that any product operation or activity is in violation of any Applicable Laws or Authorizations nor is any such
claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action threatened; (v) have not received any written or, to the Company’s knowledge, oral notice that any court or arbitrator or governmental or
regulatory authority has taken, is taking or intends to take, action to limit, suspend, materially modify or revoke any Authorizations nor is any such limitation, suspension, modification or revocation threatened; (vi) have filed, obtained,
maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms,
notices, applications, records, claims, submissions and supplements or amendments were 

  
 20 

 
complete and accurate in all material respects on the date filed (or were corrected or supplemented by a subsequent submission); and (vii) are not a party to and have no ongoing reporting
obligations pursuant to any corporate integrity agreements, monitoring agreements, consent decrees, settlement orders or similar agreements with or imposed by any governmental or regulatory authority. Neither the Company, any of its Subsidiaries nor
any of its or their respective officers, directors, employees or, to the Company’s knowledge of the Company, agents, has been excluded, suspended or debarred from or otherwise ineligible for participation in any U.S. federal health care program
or human clinical research or, to the knowledge of the Company, is subject to a governmental inquiry, investigation, proceeding or other similar action that could reasonably be expected to result in debarment, suspension, ineligibility or exclusion.

 (rr) Absence of Settlement Agreements or Undertakings. Except as disclosed in the SEC Reports, the Company is not a
party to any corporate integrity agreements, monitoring agreements, consent decrees, settlement orders, or similar agreements with or imposed by any governmental authority. 

(ss) Material Contracts. There are no contracts or other documents required to be described in the SEC Reports or filed
as exhibits to the SEC Reports pursuant to Item 601 of Regulation S-K that are not described and filed as required. The statements made in the SEC Reports, insofar as they purport to constitute summaries of
the terms of the contracts and other documents described and filed pursuant to Item 601 of Regulation S-K, constitute accurate summaries of the terms of such contracts and documents in all material respects.
Except as disclosed in the SEC Reports, neither the Company nor any of its Subsidiaries has knowledge that any other party to any such contract or other document filed pursuant to Item 601 of Regulation S-K
has any intention not to render full performance as contemplated by the terms thereof. 
 (tt) Disclosure Controls.
The Company and each of its Subsidiaries maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) designed to ensure that the information required to be disclosed by
the Company and its Subsidiaries in the reports they file or submit under the Exchange Act is accumulated and communicated to management of the Company and its Subsidiaries, including their respective principal executive officers and principal
financial officers, as appropriate, to allow timely decisions regarding required disclosure to be made, and such disclosure controls and procedures are effective in all material respects to perform the functions for which they were established. 

(uu) Defense Production Act of 1950. The Company does not engage in the design, fabrication, development, testing,
production or manufacture of critical technologies within the meaning of the Defense Production Act of 1950, as amended, including all implementing regulations thereof and has no current intention of engaging in such activities in the future. 

(vv) No “Bad Actor” Disqualification. The Company has exercised reasonable care, in accordance with SEC rules
and guidance, to determine whether any Covered Person (as defined below) is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act (“Disqualification
Events”). To the Company’s knowledge, no Covered Person is subject to a Disqualification Event, except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has complied, to the extent
applicable, with any disclosure obligations under Rule 506(e) under the Securities Act. “Covered Persons” are those persons specified in Rule 506(d)(1) under the Securities Act, including the Company; any predecessor or affiliate of
the Company; any director, executive officer, other officer participating in the offering, general partner or managing member of the Company; any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated
on the basis of voting power; any promoter (as defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of the sale of the Securities; and any person that has been or will be paid (directly or indirectly)
remuneration for solicitation of purchasers in connection with the sale of the Securities (a “Solicitor”), any general partner or managing member of any Solicitor, and any director, executive officer or other officer participating
in the offering of any Solicitor or general partner or managing member of any Solicitor. 

  
 21 

 3.2 Representations and Warranties of the Purchasers. Each Purchaser
hereby, for itself and for no other Purchaser, represents and warrants as of the date hereof and as of the Closing Date to the Company and the Placement Agent as follows: 

(a) Organization; Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization with the requisite corporate, limited liability company or partnership power and authority to enter into and to consummate the transactions contemplated by the applicable Transaction Documents and
otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement by such Purchaser and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized by all
necessary corporate or, if such Purchaser is not a corporation, such partnership, limited liability company or other applicable like action, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by
such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general
application. 
 (b) No Conflicts. The execution, delivery and performance by such Purchaser of this Agreement and the
Registration Rights Agreement and the consummation by such Purchaser of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of such Purchaser, (ii) conflict with, or
constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which such
Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to such Purchaser, except in the case of clauses (ii) and (iii) above,
for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Purchaser to perform its obligations hereunder. 

(c) Investment Intent. Such Purchaser understands that the Securities are “restricted securities” and have not
been registered under the Securities Act or any applicable state securities law and is acquiring the Shares and Warrants and, upon exercise of the Warrants, will acquire the Warrant Shares issuable upon exercise thereof, and, upon conversion of the
Preferred Stock, will acquire the Underlying Shares upon conversion thereof, as principal for its own account and not with a view to, or for distributing or reselling such Securities or any part thereof in violation of the Securities Act or any
applicable state securities laws, provided, however, that by making the representations herein, such Purchaser does not agree to hold any of the Securities for any minimum period of time and reserves the right, subject to the
provisions of this Agreement and the Registration Rights Agreement, at all times to sell or otherwise dispose of all or any part of such Securities pursuant to an effective registration statement under the Securities Act or under an exemption from
such registration and in compliance with applicable federal and state securities laws. Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business. Such Purchaser does not presently have any agreement, plan or
understanding, directly or indirectly, with any Person to distribute or effect any distribution of any of the Securities (or any securities which are derivatives thereof) to or through any person or entity; such Purchaser is not a registered
broker-dealer under Section 15 of the Exchange Act or an entity engaged in a business that would require it to be so registered as a broker-dealer. 

(d) Purchaser Status. At the time such Purchaser was offered the Shares and Warrants, it was, and at the date hereof it
is, and on each date on which it exercises the Warrants and/or converts the Preferred Stock, as applicable, it will be, an “accredited investor” as defined in Rule 501(a) under the Securities Act. 

  
 22 

 (e) General Solicitation. Such Purchaser is not purchasing the
Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general
advertisement. 
 (f) Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives,
has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment.
Such Purchaser is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment. 

(g) Acknowledgment of Risks. 

(i) Such Purchaser acknowledges and understands that its investment in the Securities involves a significant degree of risk,
including, without limitation: (i) the Company remains a development stage business with limited operating history and requires substantial funds in addition to the proceeds from the sale of the Securities; (ii) an investment in the
Company is speculative, and only Purchasers who can afford the loss of their entire investment should consider investing in the Company and the Securities; (iii) such Purchaser may not be able to liquidate its investment;
(iv) transferability of the Securities is extremely limited; (v) in the event of a disposition of the Securities, such Purchaser could sustain the loss of its entire investment; and (vi) the Company has not paid any dividends on its
Common Stock since inception and does not anticipate the payment of dividends in the foreseeable future. Such risks are more fully set forth in the public filings made by the Company with the Commission; 

(ii) Such Purchaser is able to bear the economic risk of holding the Securities for an indefinite period, and has knowledge
and experience in financial and business matters such that it is capable of evaluating the risks of the investment in the Securities; and 

(iii) Such Purchaser has, in connection with such Purchaser’s decision to purchase Securities, not relied upon any
representations or other information (whether oral or written) other than as set forth in the representations and warranties of the Company contained herein, and such Purchaser has, with respect to all matters relating to the Transaction Documents
and the offer and sale of the Securities, relied solely upon the advice of such Purchaser’s own counsel and has not relied upon or consulted any counsel to the Placement Agent or counsel to the Company. 

(h) Access to Information. Such Purchaser acknowledges that it has had the opportunity to review the SEC Reports and has
been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and risks of
investing in the Securities; (ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the
investment. Neither such inquiries nor any other investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend or affect such Purchaser’s right to rely on the truth, accuracy and completeness of
the SEC Reports and the Company’s representations and warranties contained in the Transaction Documents. Such Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to
its acquisition of the Securities. 

  
 23 

 (i) Certain Trading Activities. Other than with respect to the
transactions contemplated herein, since the time that such Purchaser was first contacted by the Company, the Placement Agent or any other Person regarding the transactions contemplated hereby, neither the Purchaser nor any Affiliate of such
Purchaser which (x) had knowledge of the transactions contemplated hereby, (y) has or shares discretion relating to such Purchaser’s investments or trading or information concerning such Purchaser’s investments, including in
respect of the Securities, and (z) is subject to such Purchaser’s review or input concerning such Affiliate’s investments or trading (each a “Trading Affiliate”) has directly or indirectly, nor has any Person acting
on behalf of or pursuant to any understanding with such Purchaser or Trading Affiliate, effected or agreed to effect any purchases or sales of the securities of the Company (including, without limitation, any Short Sales involving the Company’s
securities). Notwithstanding the foregoing, in the case of a Purchaser and/or Trading Affiliate that is, individually or collectively, a multi-managed investment bank or vehicle whereby separate portfolio managers manage separate portions of such
Purchaser’s or Trading Affiliate’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s or Trading Affiliate’s assets,
the representation set forth above shall apply only with respect to the portion of assets managed by the portfolio manager that have knowledge about the financing transaction contemplated by this Agreement. Other than to other Persons party to this
Agreement, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding the foregoing, for avoidance of doubt, nothing
contained herein shall constitute a representation or warranty, or preclude any actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to effect short sales or similar transactions in
the future. 
 (j) Brokers and Finders. No Person will have, as a result of the transactions contemplated by this
Agreement, any valid right, interest or claim against or upon the Company or any Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Purchaser. 

(k) Independent Investment Decision. Such Purchaser has independently evaluated the merits of its decision to purchase
Securities pursuant to the Transaction Documents, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business and/or legal counsel in making such decision. Such Purchaser understands that nothing in this
Agreement or any other materials presented by or on behalf of the Company to the Purchaser in connection with the purchase of the Securities constitutes legal, tax or investment advice. Such Purchaser has consulted such legal, tax and investment
advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the Securities. Such Purchaser understands that the Placement Agent has acted solely as the agent of the Company in this placement of the
Shares and Warrants and such Purchaser has not relied on the business or legal advice of the Placement Agent or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that none of such Persons has made any
representations or warranties to such Purchaser in connection with the transactions contemplated by the Transaction Documents. 

(l) Reliance on Exemptions. Such Purchaser understands that the Securities being offered and sold to it in reliance on
specific exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and such Purchaser’s compliance with, the representations,
warranties, agreements, acknowledgements and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities. 

(m) No Governmental Review. Such Purchaser understands that no United States federal or state agency or any other
government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the
offering of the Securities. 

  
 24 

 (n) Regulation M. Such Purchaser is aware that the
anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of Common Stock and other activities with respect to the Common Stock by the Purchasers. 

(o) Beneficial Ownership. Other than Purchasers with holdings of Company securities in excess of the Threshold Amount
prior to any purchases pursuant to this Agreement (“Existing Investors”), the purchase by such Purchaser of the Shares and Warrants issuable to it at the Closing will not (either with or without aggregating such Securities with the
Warrant Shares for which such Purchaser’s Warrants are exercisable) result in such Purchaser (individually or together with any other Person with whom such Purchaser has identified, or will have identified, itself as part of a “group”
in a public filing made with the Commission involving the Company’s securities) (when added to any other securities of the Company that it or they then own or have the right to acquire) acquiring, or obtaining the right to acquire, in excess of
the Threshold Amount on a post transaction basis that assumes that such Closing shall have occurred. Other than Existing Investors, such Purchaser does not presently intend to, alone or together with others, make a public filing with the Commission
to disclose that it has (or that it together with such other Persons have) acquired, or obtained the right to acquire, as a result of such Closing (when added to any other securities of the Company that it or they then own or have the right to
acquire), in excess of the Threshold Amount on a post transaction basis that assumes that each Closing shall have occurred. A Purchaser shall not be deemed to have acquired, or have the right to acquire, any shares of Common Stock in excess of the
Beneficial Ownership Limitation (as defined in the Certificate of Designation) prior to the sixty-first (61st) day after the Purchaser’s delivery of a Notice of Conversion under the Certificate of Designation. Notwithstanding the foregoing, the
Company shall at all times be required to issue the applicable number of shares of Common Stock to a given Purchaser upon the valid conversion by such Purchaser (or its assigns) of shares of Series X Preferred Stock unless and only to the extent
that such conversion and related issuance: (i) would result in the aggregate issuance to a given Purchaser (including its predecessors-in-interest) of a number of
shares of Common Stock in excess of the Threshold Amount, and (ii) has not been approved by the Company’s stockholders in accordance with the stockholder approval requirements of Nasdaq Marketplace Rule 5635. 

(p) Residency. Such Purchaser’s residence (if an individual) or offices in which its investment decision with
respect to the Securities was made (if an entity) are located at the address immediately below such Purchaser’s name on its signature page hereto. 

(q) Anti-Money Laundering Laws. Such Purchaser represents and warrants to, and covenants with, the Company that:
(i) such Purchaser is in compliance with the regulations administered by the U.S. Department of the Treasury (“Treasury”) Office of Foreign Assets Control; (ii) such Purchaser, its parents, subsidiaries, affiliated
companies, officers, directors and partners, and to such Purchaser’s knowledge, its stockholders, owners, employees, and agents, are not on the List of Specially Designated Nationals and Blocked Persons maintained by Treasury and have not been
designated by Treasury as a financial institution of primary money laundering concern subject to special measures under Section 311 of the USA PATRIOT Act, Pub. L. 107-56; (iii) to such Purchaser’s
knowledge, the funds to be used to acquire the Securities are not derived from activities that contravene applicable anti-money laundering laws and regulations; (iv) such Purchaser is in compliance with all other applicable anti money
laundering laws and regulations and has implemented anti money laundering procedures that comply with applicable anti-money laundering laws and regulations, including, as applicable, the requirements of the Bank Secrecy Act, as amended by the USA
PATRIOT Act, Pub. L. 107 56; and (v) to the best of its knowledge (A) none of the funds to be provided by such Purchaser are being tendered on behalf of a person or entity who has not been identified to such Purchaser, and (B) upon
the reasonable request of the Company, such Purchaser agrees to re-certify in writing the representations, warranties and covenants provided in this paragraph. 

  
 25 

 (r) No “Bad Actor” Disqualification Events. Neither
(i) the Purchaser, (ii) any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members, nor (iii) any beneficial owner of the
Company’s voting equity securities (in accordance with Rule 506(d) of the Securities Act) held by the Purchaser is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3)
under the Securities Act and disclosed reasonably in advance of the Closing in writing in reasonable detail to the Company. 

(s) Representations by Non-United States persons. If Purchaser is not a United
States person, the Purchaser hereby represents that the Purchaser has satisfied the laws of the Purchaser’s jurisdiction in connection with any invitation to subscribe for the Securities or any use of the Transaction Documents, including
(i) the legal requirements within the Purchaser’s jurisdiction for the purchase of the Securities, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be
obtained and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Purchaser’s subscription and payment for, and the Purchaser’s
continued beneficial ownership of, the Securities will not violate any applicable securities or other laws of the Purchaser’s jurisdiction. 

The Company and each of the Purchasers acknowledge and agree that no party to this Agreement has made or makes any representations or
warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Article III and the Transaction Documents. 

ARTICLE IV. 
 OTHER AGREEMENTS
OF THE PARTIES 
 4.1 Transfer Restrictions. 

(a) Compliance with Laws. Notwithstanding any other provision of this Article IV, each Purchaser covenants that
the Securities may be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act, and in compliance with any applicable state and federal securities laws. In connection with any transfer of the Securities other than (i) pursuant to an effective registration statement,
(ii) to the Company, (iii) pursuant to Rule 144 (provided that the Purchaser provides the Company with reasonable assurances (in the form of seller and, if applicable, broker representation letters) that the securities may be
sold pursuant to such rule) or (iv) in connection with a bona fide pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by
the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Securities under the
Securities Act or applicable state securities law. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and the Registration Rights Agreement and shall have the rights and obligations of a
Purchaser under this Agreement and the Registration Rights Agreement with respect to such transferred Securities. 
 (b)
Legends. Any certificates or book-entry notations shall bear any legend as required by the “blue sky” laws of any state and a restrictive legend in substantially the following form, until such time as they are not required under
Section 4.1(c): 
 THE OFFER AND SALE OF THESE SECURITIES AND THE SECURITIES
ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD,
TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR 

  
 26 

 
THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES; PROVIDED THAT IN CONNECTION WITH ANY FORECLOSURE OR TRANSFER OF THE
SECURITIES, THE TRANSFEROR SHALL COMPLY WITH THE PROVISIONS HEREIN, IN THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT, AND UPON FORECLOSURE OR TRANSFER OF THE SECURITIES, SUCH FORECLOSING PERSON OR TRANSFEREE SHALL COMPLY
WITH ALL PROVISIONS CONTAINED HEREIN, IN THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT. 
 The
Company acknowledges and agrees that a Purchaser may from time to time pledge, and/or grant a security interest in, some or all of the legended Securities in connection with applicable securities laws, pursuant to a bona fide margin agreement in
compliance with a bona fide margin loan. Such a pledge would not be subject to approval or consent of the Company and no legal opinion of legal counsel to the pledgee, secured party or pledgor shall be required in connection with the pledge, but
such legal opinion shall be required in connection with a subsequent transfer or foreclosure following default by the Purchaser transferee of the pledge. No notice shall be required of such pledge, but Purchaser shall promptly notify the Company of
any such subsequent transfer or foreclosure. Each Purchaser acknowledges that the Company shall not be responsible for any pledges relating to, or the grant of any security interest in, any of the Securities or for any agreement, understanding or
arrangement between any Purchaser and its pledgee or secured party. At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation as such Purchaser may reasonably request in connection with a pledge
or transfer of the Securities, including the preparation and filing of any required prospectus supplement under Rule 424(b)(3) of the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of selling
stockholders thereunder. Each Purchaser acknowledges and agrees that, except as otherwise provided in Section 4.1(c), any Securities subject to a pledge or security interest as contemplated by this
Section 4.1(b) shall continue to bear the legend set forth in this Section 4.1(b) and be subject to the restrictions on transfer set forth in Section 4.1(a). 

(c) Removal of Legends. The legend set forth in Section 4.1(b) above shall be removed and the
Company shall issue a book-entry notation (or certificate, as applicable) to such holder or issue to such holder by electronic delivery at the applicable balance account at the Depository Trust Company (“DTC”), if (i) such
Securities are registered for resale under the Securities Act (provided that, if the Purchaser is selling pursuant to the effective registration statement registering the Securities for resale, the Purchaser agrees to only sell such
Securities during such time that such registration statement is effective and not withdrawn or suspended, and only as permitted by such registration statement), (ii) such Securities are sold or transferred pursuant to Rule 144 (if the
transferor is not an Affiliate of the Company), or (iii) such Securities are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as
to such Securities and without volume or manner-of-sale restrictions. Following the earlier of (i) the Effective Date and (ii) Rule 144 becoming

  
 27 

 
available for the resale of Securities, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Securities and
without volume or manner-of-sale restrictions, the Company shall cause Company Counsel to issue to the Transfer Agent the legal opinion referred to in the Irrevocable
Transfer Agent Instructions. Any fees (with respect to the Transfer Agent, Company Counsel or otherwise) associated with the issuance of such opinion or the removal of such legend shall be borne by the Company. Following the Effective Date, or at
such earlier time as a legend is no longer required for certain Securities, the Company will promptly following the delivery by a Purchaser to the Company (with written notice to the Company) of (i) a legended certificate or book-entry notation
representing Shares, Warrant Shares or Underlying Shares (endorsed or with stock powers attached, signatures guaranteed, and otherwise in the form necessary to affect the reissuance and/or transfer) and an opinion of counsel to the extent required
by Section 4.1(a), (ii) an Exercise Notice (as defined in the Warrants) in the manner stated in the Warrants to effect the exercise of such Warrant in accordance with its terms or (iii) a Notice of Conversion in the
manner stated in the Certificate of Designation to effect the conversion of such Preferred Shares in accordance with their terms, and an opinion of counsel to the extent required by Section 4.1(a) (such date, the
“Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate or book-entry notation free from all restrictive and other legends. The Company may not make any notation on its records or give instructions
to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1(c). Certificates or book-entry notations subject to legend removal hereunder may be transmitted by the Transfer Agent to the
Purchasers by crediting the account of the Purchaser’s prime broker with DTC as directed by such Purchaser. 
 (d)
Irrevocable Transfer Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent, and any subsequent transfer agent, in the forms of Exhibit E-1
and Exhibit E-2, as applicable, attached hereto (the “Irrevocable Transfer Agent Instructions”). The Company represents and warrants that no instruction other than the Irrevocable
Transfer Agent Instructions referred to in this Section 4.1(d) (or instructions that are consistent therewith) will be given by the Company to the Transfer Agent in connection with this Agreement (other than those
instructions contemplated in Section 2.2(a)(vi)), other than with respect to the issuance of the Underlying Shares upon a valid conversion of the Preferred Stock, and that the Securities shall otherwise be freely
transferable on the books and records of the Company as and to the extent provided in this Agreement and the other Transaction Documents and applicable law. The Company acknowledges that a breach by it of its obligations under this
Section 4.1(d) will cause irreparable harm to a Purchaser. Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Section 4.1(d) will be inadequate
and agrees, in the event of a breach by the Company of the provisions of this Section 4.1(d), that a Purchaser shall be entitled, in addition to all other available remedies, to an order and/or injunction restraining any
breach and requiring immediate issuance and transfer, without the necessity of showing economic loss and without any bond or other security being required. 

(e) Acknowledgement. Each Purchaser hereunder acknowledges its primary responsibilities under the Securities Act and
accordingly will not sell or otherwise transfer the Securities or any interest therein without complying with the requirements of the Securities Act. While the Registration Statement remains effective, each Purchaser hereunder may sell the Shares,
the Warrant Shares and the Underlying Shares in accordance with the plan of distribution contained in the Registration Statement and if it does so it will comply therewith and with the related prospectus delivery requirements unless an exemption
therefrom is available. Each Purchaser, severally and not jointly with the other Purchasers, agrees that if it is notified by the Company in writing at any time that the Registration Statement registering the resale of the Shares, the Warrant Shares
and the Underlying Shares is not effective or that the prospectus included in such Registration Statement no longer complies with the requirements of Section 10 of the Securities Act, the Purchaser will refrain from selling such Shares, the
Warrant Shares and the Underlying Shares until such time as the Purchaser is notified by the Company that such Registration Statement is effective or such prospectus is compliant with Section 10 of the Securities Act, unless such Purchaser is
able to, and does, sell such Shares, the Warrant Shares and the Underlying Shares pursuant to an available exemption from the 

  
 28 

 
registration requirements of Section 5 of the Securities Act. Both the Company and its Transfer Agent, and their respective directors, officers, employees and agents, may rely on this
Section 4.1(e) and each Purchaser hereunder will indemnify and hold harmless each of such persons from any breaches or violations of this Section 4.1(e). 

4.2 Reservation of Common Stock. The Company shall take all action necessary to at all times have authorized, and
reserved for the purpose of issuance from and after the Closing Date, the number of shares of Common Stock issuable upon exercise of the Warrants issued at the Closing (without taking into account any limitations on exercise of the Warrants set
forth in the Warrants). So long as the Preferred Stock remains outstanding, the Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance from and after the Closing Date, the maximum number of
shares of Common Stock to effect the conversion of the Preferred Stock. 
 4.3 Furnishing of Information. In order to
enable the Purchasers to sell the Securities under Rule 144, for a period of twelve (12) months from the Closing, the Company shall use its commercially reasonable efforts to timely file (or obtain extensions in respect thereof and file
within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. During such twelve (12) month period, if the Company is not required to file reports pursuant to the
Exchange Act, it will prepare and furnish to the Purchasers and make publicly available in accordance with Rule 144(c) such information as is required for the Purchasers to sell the Securities under Rule 144. 

4.4 Integration. The Company shall not, and shall use its commercially reasonable efforts to ensure that no Affiliate
of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that will be integrated with the offer or sale of the Securities in a manner
that would require the registration under the Securities Act of the sale of the Securities to the Purchasers, or that will be integrated with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market such
that it would require stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent transaction. 

4.5 Securities Laws Disclosure; Publicity. By 9:00 A.M., New York City time, on the Trading Day immediately
following the date hereof, the Company shall issue a press release (the “Press Release”) reasonably acceptable to the Placement Agent disclosing all material terms of the transactions contemplated hereby. On or before
9:00 A.M., New York City time, on the second (2nd) Trading Day immediately following the date hereof, the Company will file a Current Report on
Form 8-K with the Commission describing the terms of the Transaction Documents (and including as exhibits to such Current Report on Form 8-K the material
Transaction Documents (including, without limitation, this Agreement, the form of Warrant and the Registration Rights Agreement)). Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser or an Affiliate of
any Purchaser, or include the name of any Purchaser or an Affiliate of any Purchaser in any press release or filing with the Commission (other than the Registration Statement) or any regulatory agency or Trading Market, without the prior written
consent of such Purchaser, except (i) as required by federal securities law in connection with (A) any registration statement contemplated by the Registration Rights Agreement and (B) the filing of final Transaction Documents
(including signature pages thereto) with the Commission and (ii) to the extent such disclosure is required by law, request of the Staff of the Commission or Trading Market regulations, in which case the Company shall provide the Purchasers with
prior notice of such disclosure permitted under this subclause (ii). From and after the issuance of the Press Release, no Purchaser shall be in possession of any material, non-public information regarding the
Company or its Subsidiaries received from the Company, any Subsidiary or any of their respective officers, directors, employees or agents, that is not disclosed in the Press Release unless a Purchaser shall have executed a written agreement
regarding the confidentiality and use of such information. Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are required to be publicly disclosed
by the Company as described in this Section 4.5, such Purchaser will maintain the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

  
 29 

 4.6 Stockholder Rights Plan. No claim will be made or enforced by the
Company or, with the consent of the Company, any other Person, that any Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, in either case solely by virtue of receiving Securities
under the Transaction Documents or under any other written agreement between the Company and the Purchasers; provided, however, that no such Purchaser owns any equity in the Company prior to its purchase of the Securities hereunder.

 4.7 Non-Public Information. Except with respect to the material terms and
conditions of the transactions contemplated by the Transaction Documents, including this Agreement, or as expressly required by any applicable securities law, the Company covenants and agrees that neither it, nor any other Person acting on its
behalf, will provide any Purchaser or its agents or counsel with any information regarding the Company that the Company believes constitutes material non-public information regarding the Company or its
Subsidiaries without the express written consent of such Purchaser, unless prior thereto such Purchaser shall have executed a written agreement regarding the confidentiality and use of such information. The Company understands and confirms that each
Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. 
 4.8 Use
of Proceeds. The Company shall use the net proceeds from the sale of the Shares and Warrants hereunder for working capital and general corporate purposes and shall not use such proceeds for the redemption of any Common Stock or Common Stock
Equivalents. 
 4.9 Indemnification of Purchasers. Subject to the provisions of this
Section 4.9, the Company will indemnify and hold each Purchaser and its directors, officers, stockholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person
holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers,
stockholders, agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a
“Purchaser Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees
and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other
Transaction Documents or (b) any action instituted against a Purchaser in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser, with respect to any of the
transactions contemplated by the Transaction Documents (unless such action is based upon a breach of such Purchaser’s representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser
may have with any such stockholder or any violations by the Purchaser of state or federal securities laws or any conduct by such Purchaser which constitutes fraud, gross negligence, willful misconduct, bad faith or malfeasance). Promptly after
receipt by any Purchaser Party (the “Indemnified Person”) of notice of any demand, claim or circumstances which could reasonably be expected to give rise to a claim or the commencement of any action, proceeding or investigation in
respect of which indemnity may be sought pursuant to this Section 4.9, such Indemnified Person shall promptly notify the Company in writing and the Company shall assume the defense thereof, including the employment of
counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, however, that the failure of any Indemnified Person so to notify the Company shall not relieve the Company of
its obligations hereunder except to the extent that the Company is actually and 

  
 30 

 
materially prejudiced by such failure to notify. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be
at the expense of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; (ii) the Company shall have failed promptly to assume the defense of such proceeding
and to employ counsel reasonably satisfactory to such Indemnified Person in such proceeding; or (iii) in the reasonable judgment of counsel to such Indemnified Person, representation of both parties by the same counsel would be inappropriate
due to actual or potential differing interests between them; provided, however, that the Company shall not be responsible for the fees and expenses of more than one counsel for all Indemnified Persons. The Company shall not be liable
for any settlement of any action, claim or proceeding effected without its prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent
shall not be unreasonably withheld, delayed or conditioned, the Company shall not effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been
sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding. 

4.10 Principal Trading Market Listing. In the time and manner required by the Principal Trading Market, the Company
shall prepare and file with such Principal Trading Market an additional shares listing application covering all of the Shares, the Warrant Shares and the Underlying Shares and shall use its commercially reasonable efforts to take all steps necessary
to cause all of the Shares, the Warrant Shares and the Underlying Shares to be approved for listing on the Principal Trading Market as promptly as possible thereafter. 

4.11 Form D; Blue Sky. The Company agrees to timely file a Form D with respect to the
Securities as required under Regulation D. The Company, on or before the Closing Date, shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption for or to qualify the Securities for sale to
the Purchasers under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an exemption from such qualification). 

4.12 Delivery of Shares and Warrants After Closing. Subject to the satisfaction of each Purchaser’s obligations
under the Transaction Documents, the Company shall deliver, or cause to be delivered, a book-entry statement evidencing the Shares within one (1) Trading Day after the Closing and physical Warrants purchased by each Purchaser to such Purchaser
within three (3) Trading Days of the Closing Date. 
 4.13 Short Sales and Confidentiality After The Date
Hereof. Such Purchaser shall not, and shall cause its Trading Affiliates not to, engage, directly or indirectly, in any transactions in the Company’s securities (including, without limitation, any Short Sales involving the Company’s
securities) during the period from the date hereof until the earlier of such time as (i) the transactions contemplated by this Agreement are first publicly announced as required by and described in Section 4.5 and
(ii) this Agreement is terminated in full pursuant to Section 6.18. Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement
are publicly disclosed by the Company as described in Section 4.5, such Purchaser will maintain the confidentiality of the existence and terms of this transaction and the information included in the Transaction Documents.
Notwithstanding the foregoing, no Purchaser makes any representation, warranty or covenant hereby that it will not engage in Short Sales in the securities of the Company after the time that the transactions contemplated by this Agreement are first
publicly announced as described in Section 4.5; provided, however, each Purchaser agrees, severally and not jointly with any Purchasers, that they will not enter into any Net Short Sales (as hereinafter
defined) from the period commencing on the Closing Date and ending on the earliest of (x) the Effective Date of the initial Registration Statement, (y) the twenty-four (24) month anniversary of the Closing Date and (z) the date
that such Purchaser no longer holds any Securities. For purposes of this Section 4.13, a “Net Short Sale” by any Purchaser shall mean a sale of Common Stock by

  
 31 

 
such Purchaser that is marked as a short sale and that is made at a time when there is no equivalent offsetting long position in Common Stock held by such Purchaser. For purposes of determining
whether there is an equivalent offsetting position in Common Stock held by the Purchaser, Warrant Shares that have not yet been issued pursuant to the exercise of Warrants shall be deemed to be held long by the Purchaser, and the amount of shares of
Common Stock held in a long position shall be all Shares and unexercised Warrant Shares (ignoring any exercise limitations included therein) issuable to such Purchaser on such date, plus any shares of Common Stock or Common Stock Equivalents
otherwise then held by such Purchaser. Notwithstanding the foregoing, in the event that a Purchaser is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio
managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the representation set forth above shall apply only with respect to the portion of assets managed
by the portfolio manager that have knowledge about the financing transaction contemplated by this Agreement. Moreover, notwithstanding the foregoing, in the event that a Purchaser has sold Securities pursuant to Rule 144 prior to the Effective
Date of the initial Registration Statement and the Company has failed to issue Securities without legends prior to the settlement date for such sale (assuming that such Securities meet the requirements set forth in
Section 4.1(c) for the removal of legends), the provisions of this Section 4.13 shall not prohibit the Purchaser from entering into Net Short Sales for the purpose of delivering shares of Common
Stock in settlement of such sale. Each Purchaser understands and acknowledges, severally and not jointly with any other Purchaser, that the Commission currently takes the position that covering a short position established prior to effectiveness of
a resale registration statement with shares included in such registration statement would be a violation of Section 5 of the Securities Act, as set forth in Item 65, Section 5 under Section A, of the Manual of Publicly Available
Telephone Interpretations, dated July 1997, compiled by the Office of Chief Counsel, Division of Corporation Finance. 

4.14 Subsequent Equity Sales. From the date hereof until the earlier of (i) one hundred eighty (180) days
following the Closing Date and (ii) thirty (30) days after the Effective Date (the “Restricted Period”), neither the Company nor any Subsidiary shall issue shares of Common Stock or Common Stock Equivalents; provided,
however, the thirty (30) day period set forth in this Section 4.14 shall be extended for the number of Trading Days during such period in which (i) trading in the Common Stock is suspended by any Trading
Market, or (ii) following the Effective Date, the Registration Statement is not effective or the prospectus included in the Registration Statement may not be used by the Purchasers for the resale of the Shares, the Warrant Shares and the
Underlying Shares. Notwithstanding anything to the contrary contained herein, the foregoing restrictions shall not apply to (a) the Securities to be sold pursuant to the Agreement, (b) the issuance by the Company of shares of Common Stock
upon the exercise (including any net exercise) of an option or warrant or the conversion of a security outstanding on the date hereof or pursuant to contractual obligations of the Company in effect as of the date hereof, (c) the issuance by the
Company of options, restricted stock units or restricted stock awards (including the Common Stock issued upon the settlement or exercise thereof) to employees, officers, directors, advisors or consultants of the Company pursuant to employee benefit
plans (including equity incentive plans) described in the SEC Reports or pursuant to bona fide employee benefit or purchase plans established during the Restricted Period (including any inducement equity plans or awards established in compliance
with the Nasdaq Marketplace Rules), (d) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock, provided that (1) such plan
does not provide for the transfer of Common Stock during the Restricted Period and (2) no public announcement or filing under the Exchange Act is required of or voluntarily made by the Company regarding the establishment of such plan, or
(e) the issuance by the Company of shares of Common Stock or securities convertible into, exchangeable for or that represent the right to receive Common Stock in connection with (1) the acquisition by the Company or any of its subsidiaries
of the securities, business, technology, property or other assets of another person or entity or pursuant to an employee benefit plan assumed by the Company in connection with such acquisition, or (2) the Company’s joint ventures,
equipment leasing arrangements, licensing transactions, collaborations, debt financings and other strategic transactions; provided that the aggregate number of shares of Common Stock that the Company may sell or issue or agree to sell or issue
pursuant to clause (e) shall not exceed 5% of the total number of shares of Common Stock outstanding immediately following the completion of the transactions contemplated by this Agreement. 

  
 32 

 4.15 Conversion and Exercise Procedures. The form of Notice of
Conversion included in the Certificate of Designation sets forth the totality of the procedures required of the Purchasers in order to convert the Preferred Stock. No additional legal opinion, other information or instructions shall be required of
the Purchasers to convert their Preferred Stock. The Company shall honor conversions of the Preferred Stock and shall deliver the Underlying Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents;
provided, however, that the Company shall not be required to issue any shares of Common Stock to a Purchaser upon conversion by such Purchaser (or its assigns) of any shares of the Preferred Stock to the extent (and only to the extent)
that such conversion would result in the Purchaser (including its predecessors-in-interest) beneficially owning shares of Common Stock in excess of the Threshold Amount
unless approved by the Company’s stockholders in accordance with the applicable stockholder approval requirements of Nasdaq Marketplace Rule 5635. 

4.16 Stockholder Approval. To the extent any of the transactions contemplated by the Transaction Documents, including
the issuance of the Preferred Stock or the exercise of the Warrants, requires stockholder approval pursuant to the rules and regulations of the Principal Trading Market, the Company will, in connection with its 2019 annual meeting of stockholders
(the “Annual Meeting”), provide notice of, and solicit proxies for the Company’s stockholders to obtain such required approvals such that the Preferred Stock can be converted to Common Stock and the Warrants can be exercised at
any time, in each case without restriction or additional stockholder approval (the “Stockholder Approval”). The Annual Meeting shall occur no later than June 14, 2019. To the extent the Stockholder Approval is not obtained, the
Company will continue to seek the Stockholder Approval at each annual meeting thereafter. 
 4.17 Board
Representative. For so long as funds affiliated with Decheng Capital beneficially own 8% or more in the aggregate of the issued and outstanding Common Stock of the Company, excluding any shares of Common Stock issuable upon the exercise of the
remaining, unexercised portion of the Warrants held by Decheng Capital, Decheng Capital will be entitled to nominate one member of the Board of Directors and the Company will take all necessary actions to nominate such director at each meeting of
stockholders where such director nominee is up for re-election. 
 ARTICLE V. 

CONDITIONS PRECEDENT TO CLOSING 

5.1 Conditions Precedent to the Obligations of the Purchasers to Purchase Securities. The obligation of each Purchaser
to acquire Shares and Warrants at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, on or prior to the Closing Date, of each of the following conditions, any of which may be waived by such Purchaser (as to itself
only): 
 (a) Representations and Warranties. The representations and warranties of the Company contained herein shall
be true and correct in all material respects (except for those representations and warranties which are qualified as to materiality or Material Adverse Effect, in which case such representations and warranties shall be true and correct in all
respects) as of the date when made and as of the Closing Date, as though made on and as of such date, except for such representations and warranties that speak as of a specific date. 

(b) Performance. The Company shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing. 

  
 33 

 (c) No Injunction. No statute, rule, regulation, executive order,
decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction
Documents. 
 (d) Consents. The Company shall have obtained in a timely fashion any and all consents, permits,
approvals, registrations and waivers necessary for consummation of the purchase and sale of the Securities (including all Required Approvals), all of which shall be and remain so long as necessary in full force and effect. 

(e) Adverse Changes. Since the date hereof, no event or series of events shall have occurred that has had or would
reasonably be expected to have a Material Adverse Effect. 
 (f) Listing. The Nasdaq Global Market shall have approved
the listing of additional shares application for the Shares, Warrant Shares and Underlying Shares. 
 (g) No Suspensions
of Trading in Common Stock. The Common Stock shall not have been suspended, as of the Closing Date, by the Commission or the Principal Trading Market from trading on the Principal Trading Market nor shall suspension by the Commission or the
Principal Trading Market have been threatened, as of the Closing Date, either (A) in writing by the Commission or the Principal Trading Market or (B) by falling below the minimum listing maintenance requirements of the Principal Trading
Market. 
 (h) Company Deliverables. The Company shall have delivered the Company Deliverables in accordance with
Section 2.2(a). 
 (i) Compliance Certificate. The Company shall have delivered to each
Purchaser a certificate, dated as of the Closing Date and signed by its Chief Executive Officer or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in
Sections 5.1(a) and (b) in the form attached hereto as Exhibit G. 

(j) Termination. This Agreement shall not have been terminated as to such Purchaser in accordance with
Section 6.18 herein. 
 (k) Appointment of Director. Solely with respect to Purchasers
affiliated with Decheng Capital, the Board of Directors or a committee thereof with duly delegated authority, shall have taken all necessary actions such that, effective as of the Closing, (i) one representative of Decheng Capital (the
“Decheng Representative”) is appointed to the Board of Directors as a Class II director and (ii) the Company and the Decheng Representative have entered into the Company’s standard form of indemnification agreement.

 5.2 Conditions Precedent to the Obligations of the Company to sell Securities. The Company’s obligation to
sell and issue the Shares and Warrants at the Closing to the Purchasers is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company: 

(a) Representations and Warranties. The representations and warranties made by the Purchasers contained herein shall be
true and correct in all material respects (except for those representations and warranties which are qualified as to materiality, in which case such representations and warranties shall be true and correct in all respects) as of the date when made,
and as of the Closing Date as though made on and as of such date, except for representations and warranties that speak as of a specific date. 

  
 34 

 (b) Performance. Such Purchaser shall have performed, satisfied and
complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by such Purchaser at or prior to the Closing Date. 

(c) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by the Transaction Documents. 

(d) Consents. The Company shall have obtained in a timely fashion any and all consents, permits, approvals,
registrations and waivers necessary for consummation of the purchase and sale of the Securities (including all Required Approvals), all of which shall be and remain so long as necessary in full force and effect. 

(e) Purchasers Deliverables. Such Purchaser shall have delivered its Purchaser Deliverables in accordance with
Section 2.2(b). 
 (f) Listing.    The Nasdaq Global Market shall have
approved the listing of additional shares application for the Shares, the Warrant Shares and the Underlying Shares. 
 (g)
Termination. This Agreement shall not have been terminated as to such Purchaser in accordance with Section 6.18 herein. 

ARTICLE VI. 
 MISCELLANEOUS

 6.1 Fees and Expenses. The Company and the Purchasers shall each pay the fees and expenses of their respective
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party in connection with the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent
fees, stamp taxes and other taxes and duties levied in connection with the sale and issuance of the Securities to the Purchasers; provided, that pursuant to Section 6 of the Warrants, the Company shall not be required to pay any tax that
may be payable in respect of any transfer involved in the registration of Warrant Shares or the Warrants in a name other than that of the Purchaser or an Affiliate thereof. Notwithstanding the foregoing, the Company shall reimburse Decheng Capital
(a Purchaser) up to $75,000 in the aggregate for its documented and reasonable consulting, legal and other out of pocket expenses related to the transactions contemplated by the Transaction Documents, which amount may be withheld by such Purchaser
from its aggregate Subscription Amount at the Closing. 
 6.2 Entire Agreement. The Transaction Documents, together
with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to
such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without further consideration, the Company and the Purchasers will execute and deliver to the other such further
documents as may be reasonably requested in order to give practical effect to the intention of the parties under the Transaction Documents. 

6.3 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of
successful transmission) at the facsimile number specified in this Section 6.3 prior to 5:00 P.M., New York City time, on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number 

  
 35 

 
specified in this Section 6.3 on a day that is not a Trading Day or later than 5:00 P.M., New York City time, on any Trading Day, (c) the Trading Day following
the date of mailing, if sent by U.S. nationally recognized overnight courier service with next day delivery specified, and (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and
communications shall be as follows: 
  

					
		 	 If to the Company:
	  	 Alpine Immune Sciences, Inc.

	         
	 		  	 201 Elliott Avenue West, Suite 230

		 		  	 Seattle, WA 98119

		 		  	 Telephone No.: (206) 788-4545

		 		  	 Facsimile No.: (206) 316-8383 (with a copy emailed to
ir@alpineimmunesciences.com, which shall not constitute notice)

		 		  	 Attention: Chief Financial Officer

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

			
		 		  	 Wilson Sonsini Goodrich & Rosati, Professional Corporation

		 		  	 701 Fifth Avenue, Suite 5100

		 		  	 Seattle, WA 98104

		 		  	 Telephone No.: (206) 883-2500

		 		  	 Facsimile No.: (206) 883-2699

		 		  	 Attention: Patrick Schultheis and Michael Nordtvedt

			
		 	 If to a Purchaser:
	  	 To the address set forth under such Purchaser’s name on the signature page hereof;

 or such other address as may be designated in writing hereafter, in the same manner, by such Person. 

6.4 Amendments; Waivers; No Additional Consideration. No provision of this Agreement may be waived, modified,
supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchasers of at least a majority in interest of the Securities then held by Purchasers, or, in the case of a waiver, by the party
against whom enforcement of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default
or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. No consideration shall be offered or paid to
any Purchaser to amend or consent to a waiver or modification of any provision of any Transaction Document unless the same consideration is also offered to all Purchasers who then hold Securities. 

6.5 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall
not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against
any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement or any of the
Transaction Documents. 
 6.6 Successors and Assigns. The provisions of this Agreement shall inure to the benefit of
and be binding upon the parties and their successors and permitted assigns. Except in the case of a Fundamental Transaction as contemplated in the Warrants, this Agreement, or any rights or obligations hereunder, may not be assigned by the Company
without the prior written consent of each Purchaser. Any Purchaser may assign its rights hereunder in whole or in part to any Person to whom such Purchaser assigns or transfers any Securities in compliance with the Transaction Documents and
applicable law, provided such transferee shall agree in writing to be bound, with respect to the transferred Securities, by the terms and conditions of this the Transaction Documents that apply to the “Purchasers”. 

  
 36 

 6.7 No Third-Party Beneficiaries. This Agreement is intended for the
benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except (i) the Placement Agent is an intended third party
beneficiary of Article III hereof and (ii) each Purchaser Party is an intended third party beneficiary of Section 4.9. 

6.8 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively
in the New York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or
discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such
New York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

6.9 Survival. Subject to applicable statute of limitations, the representations, warranties, agreements and covenants
contained herein shall survive the Closing and the delivery of the Securities. 
 6.10 Execution. This Agreement may
be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, or by email delivery of a “.pdf” format data file, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof. 

6.11 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the
validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute
therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 6.12 Rescission and
Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document
and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice,
demand or election in whole or in part without prejudice to its future actions and rights, unless such rescission or withdrawal would materially prejudice the Company. 

  
 37 

 6.13 Replacement of Securities. If any certificate or instrument
evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate affidavit of that fact and an
agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer Agent. The applicants for a new
certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Securities. If a replacement certificate or instrument evidencing any Securities is requested due to
a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement. 

6.14 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including
recovery of damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. Except as expressly set forth in the Transaction Documents, the parties agree that monetary damages may not be
adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with any action
for a temporary restraining order) the defense that a remedy at law would be adequate. 
 6.15 Payment Set Aside. To
the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or
any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other person
under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be
revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred. 

6.16 Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution to
all stockholders of the Company payable in shares of Common Stock (or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly shares of Common Stock), combination or other similar
recapitalization or event occurring after the date hereof and prior to the Closing, each reference in any Transaction Document to a number of shares or a price per share shall be deemed to be amended to appropriately account for such event. 

6.17 Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any
Transaction Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under any Transaction Document. The decision
of each Purchaser to purchase Securities pursuant to the Transaction Documents has been made by such Purchaser independently of any other Purchaser and independently of any information, materials, statements or opinions as to the business, affairs,
operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company or any Subsidiary which may have been made or given by any other Purchaser or by any agent or employee of any other
Purchaser, and no Purchaser and any of its agents or employees shall have any liability to any other Purchaser (or any other Person) relating to or arising from any such information, materials, statement or opinions. Nothing contained herein or in
any Transaction Document, and no action 

  
 38 

 
taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that
the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser
in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in the Securities or enforcing its rights under the Transaction Documents. Each Purchaser
shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as
an additional party in any proceeding for such purpose. Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. For reasons of administrative convenience only, Purchasers and
their respective counsels have chosen to communicate with the Company through Latham & Watkins LLP, counsel to the Placement Agent. Each Purchaser acknowledges that Latham & Watkins LLP has rendered legal advice to the Placement
Agent and not to such Purchaser in connection with the transactions contemplated hereby, and that each such Purchaser has relied for such matters on the advice of its own respective counsel. Each Purchaser also acknowledges that Wilson Sonsini
Goodrich & Rosati, P.C. has rendered legal advice to the Company and not such Purchaser. The Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not because it
was required or requested to do so by any Purchaser. 
 6.18 Termination. This Agreement may be terminated and the
sale and purchase of the Shares and the Warrants abandoned at any time prior to the Closing by either the Company or any Purchaser (with respect to itself only) upon written notice to the other, if the Closing has not been consummated on or prior to
5:00 P.M., New York City time, on the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.18 shall not be available to any Person whose failure to comply with
its obligations under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time. Nothing in this Section 6.18 shall be deemed to release any party from any liability for
any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement or the other
Transaction Documents. In the event of a termination pursuant to this Section 6.18, the Company shall promptly notify all non-terminating Purchasers. Upon a termination in accordance
with this Section 6.18, the Company and the terminating Purchaser(s) shall not have any further obligation or liability (including arising from such termination) to the other, and no Purchaser will have any liability to any
other Purchaser under the Transaction Documents as a result therefrom. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 39 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of the date first indicated above. 
  

			
	 ALPINE IMMUNE SCIENCES, INC.

		
	 By:
	 	 /s/ Paul Rickey

		 	 Name: Paul Rickey

		 	 Title: Senior Vice President and Chief Financial Officer

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

 
			
	NAME OF PURCHASER: Aspire Capital Fund, LLC
		
	 By
	 	 Aspire Capital Partners, LLC

	 By
	 	 WML Ventures Corp.

 
			
		
	By:	 	 /s/ William F. Blank

	Name:	 	William F. Blank
	Title:	 	President

  

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $249,994.98

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 46,554

	 Underlying Shares Subject to Warrant Related to Common Shares: 18,156

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

	
	 Address for Notice:

	
	 155 N Wacker Dr, Suite 1600

	 Chicago, IL 60606

	 Telephone No.: (312) 658-0400

Attention: William Blank

 
			
	 NAME OF PURCHASER: Alpine Immunosciences, LP

		
	 By:
	 	 /s/ Mitchell H. Gold

			
	 Name:
	 	 Mitchell H. Gold

	 Title:
	 	 Managing Partner of the General Partner

 

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $1,024,998.75

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 190,875

	 Underlying Shares Subject to Warrant Related to Common Shares: 74,441

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

	
	 Address for Notice:

	
	 Alpine BioVentures, GP LLC

600 Stewart Street, Suite 1503, Seattle, WA 98101

	 Telephone No.: 206-441-5064

	 Facsimile No.: 206-441-7562

	 Attention: David Miller

 
			
	NAME OF PURCHASER: FRAZIER LIFE SCIENCES VIII, L.P.
		
	By:	 	 /s/ James N. Topper

	Name:	 	James N. Topper
	Title:	 	Managing General Partner

  

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $1,999,997.43

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 372,439

	 Underlying Shares Subject to Warrant Related to Common Shares: 145,251

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Common Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

 

			
	 Address for Notice:

	
	 601 Union Street, Suite 3200

	 Seattle, WA 98101

	 Telephone No.: (206)
621-7200

			
	NAME OF PURCHASER: Biotechnology Value Fund, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	President BVF Inc., itself General Partner BVF Partners L.P., itself General Partner Biotechnology Value Fund, L.P.

  

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $1,550,549.91

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 288,743

	 Underlying Shares Subject to Warrant Related to Common Shares: 112,609

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

			
	 Address for Notice:

	
	 BVF Partners LP

	 44 Montgomery Street 40th Floor San Francisco CA 94104

	 Telephone No.: 415-525-8830

	 Attention: James Kratky, CCO

  

	
	 Delivery Instructions:

(if different than above)
  

c/o The Depository Trust Company

	 Street: 570 Washington Blvd, 5th Floor

	 City/State/Zip: Jersey City, NJ 07310

	 Attention: Attn BNY Mellon/Branch Deposit Dept.

	 Telephone No.: 212.815.6475

			
	NAME OF PURCHASER: Biotechnology Value Fund II, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	President BVF Inc., itself General Partner BVF Partners L.P., itself General Partner Biotechnology Value Fund II, L.P.

  

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $1,267,255.56

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 235,988

	 Underlying Shares Subject to Warrant Related to Common Shares: 92,035

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

	
	 Address for Notice:

	
	 BVF Partners LP

	 44 Montgomery Street 40th Floor San Francisco CA 94104

	 Telephone No.: 415-525-8830

	 Attention: James Kratky, CCO

  

	
	 Delivery Instructions:

(if different than above)

	
	 c/o The Depository Trust Company

	 Street: 570 Washington Blvd, 5th Floor

	 City/State/Zip, Jersey City, NJ 07310

	 Attention: Attn BNY Mellon/Branch Deposit Dept.

	 Telephone No.: 212.815.6475

			
	NAME OF PURCHASER: Biotechnology Value Trading Fund OS, L.P.
		
	By:	 	 /s/ Mark Lampert

	Name:	 	Mark Lampert
	Title:	 	President BVF Inc., itself General Partner BVF Partners L.P., itself Sole Member BVF Partners OS Ltd., itself General Partner Biotechnology Value Trading Fund OS, L.P.

  

	
	 Purchase of Common Shares and Related Warrants

	
	 Common Stock Subscription Amount: $182,187.99

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 33,927

	 Underlying Shares Subject to Warrant Related to Common Shares: 13,231

	 (39% of the number of Common Shares to be acquired)

  

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

	
	 Address for Notice:

	
	 PO Box 309 Ugland House,

	 Grand Cayman, KY1-1104, Cayman Islands

	 Telephone No.: 415-525-8830

	 Attention: James Kratky, CCO

  

	
	 Delivery Instructions:

(if different than above)

	
	 c/o The Depository Trust Company

	 Street: 570 Washington Blvd, 5th Floor

	 City/State/Zip: Jersey City, NJ 07310

	 Attention: Attn BNY Mellon/Branch Deposit Dept.

	 Telephone No.: 212.815.6475

							
		  	NAME OF PURCHASER:	 	Decheng Capital China Life Sciences USD Fund III, L.P.
			
		  		 	 By its General Partner,
 Decheng
Capital Management III (Cayman), LLC

				
		  		 	By:	  	 /s/ Xiangmin
Cui                    

		  		 	Name:	  	 Xiangmin Cui

		  		 	Title:	  	 Manager

  

	
	 Purchase of Common Shares and Related Warrants

	
	Common Stock Subscription Amount: $16,999,996.95
	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 3,165,735

	 Underlying Shares Subject to Warrant Related to Common Shares: 1,234,636

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

	
	Address for Notice:
	
	c/o: Decheng Capital Management III (Cayman), LLC
	 Attention: Peter Colabuono
 3000 Sand Hill Road,
Building 2, Suite 110

	Menlo Park, California 94025
	Tel: +1 650 382 5506

  

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

	
	 Cooley LLP

	 Attention: Mark Tanoury

3175 Hanover Street

	 Palo Alto, California 94304

	 Tel: +1 650 843 5016

	 Fax: +1 650 849 7400

 
			
	NAME OF PURCHASER: OrbiMed Private Investments VI, LP
	
	By: OrbiMed Capital GP VI LLC, its General Partner
		
	By:	 	 /s/ Carl Gordon

	Name: Carl Gordon
	Title: Member

  

	
	 Purchase of Common Shares and Related Warrants 

	
	 Common Stock Subscription Amount: $1,999,997.43

	 Common Unit Purchase Price: $5.37

	 Number of Common Shares to be Acquired: 372,439

	 Underlying Shares Subject to Warrant Related to Common Shares: 145,251

	 (39% of the number of Common Shares to be acquired)

	
	 Purchase of Preferred Shares and Related Warrants

	
	 Preferred Stock Subscription Amount: $0

	 Preferred Unit Purchase Price: $0

	 Number of Preferred Shares to be Acquired: 0

	 Underlying Shares Subject to Warrant Related to Preferred Shares: 0

	 (0% of the number of Preferred Shares to be acquired)

  

			
	Address for Notice:
	
	 C/O OrbiMed Advisors LLC
 601
Lexington Avenue 54th FL, New York, NY 10022

	Telephone No.: 212.739.6400
	Attention: Andrew So

 EXHIBITS: 

 

	A:	 Form of Warrant 

	B:	 Form of Registration Rights Agreement 

	C-1:	 Accredited Investor Questionnaire 

	C-2:	 Book-Entry Questionnaire 

	D:	 Form of Opinion of Company Counsel 

	E:	 Form of Irrevocable Transfer Agent Instructions 

	F:	 Form of Secretary’s Certificate 

	G:	 Form of Officer’s Certificate 

	H:	 Wire Instructions 

	I:	 Form of Lock-Up Agreement 

	J:	 List of Directors and Executive Officers Executing Lock-Up
Agreements 

	K:	 Certificate of Designation of Series X Preferred Stock 

 EXHIBIT A 

FORM OF WARRANT 
 (See Exhibit
10.3) 

 EXHIBIT B 

FORM OF REGISTRATION RIGHTS AGREEMENT 

(See Exhibit 10.2) 

 INSTRUCTION SHEET 

(to be read in conjunction with the entire Securities Purchase Agreement and Registration Rights Agreement) 

 

	A.	 Complete the following items in the Securities Purchase Agreement and/or Registration Rights Agreement:

  

	 	1.	 Provide the information regarding the Purchaser requested on the signature page. The Securities Purchase
Agreement and the Registration Rights Agreement must be executed by an individual authorized to bind the Purchaser. 

  

	 	2.	 Exhibit C-1 – Accredited Investor
Questionnaire: 

 Provide the information requested by the Accredited Investor
Questionnaire 
  

	 	3.	 Exhibit C-2 Book-Entry Questionnaire:

 Provide the information requested by the Book-Entry Questionnaire 

 

	 	4.	 Annex B to the Registration Rights Agreement — Selling Securityholder Notice
and Questionnaire 

 Provide the information requested by the Selling Securityholder Notice
and Questionnaire 
  

	 	5.	 Return the signed Securities Purchase Agreement and Registration Rights Agreement to: 

Chad E. Huber 

Piper Jaffray & Co. 

800 Nicollet Mall, Suite 1000 

Minneapolis, MN 55402 

Tel: (212) 284-9573 

Fax: (646) 224-8131 

Email: Chad.E.Huber@pjc.com 
  

	B.	 Instructions regarding the transfer of funds for the purchase of Shares and Warrants are set forth on
Exhibit H to the Securities Purchase Agreement. 

 EXHIBIT C-1 

ACCREDITED INVESTOR QUESTIONNAIRE 

(ALL INFORMATION WILL BE TREATED CONFIDENTIALLY) 

To: Alpine Immune Sciences, Inc. 

This Investor Questionnaire (“Questionnaire”) must be completed by each potential investor in connection with the offer and
sale of the shares of the common stock, par value $0.001 per share, and shares of common stock that may be issued upon exercise of certain warrants and/or the conversion of shares of preferred stock (collectively, the “Securities”),
of Alpine Immune Sciences, Inc., a Delaware corporation (the “Corporation”). The Securities are being offered and sold by the Corporation without registration under the Securities Act of 1933, as amended (the
“Act”), and the securities laws of certain states, in reliance on the exemptions contained in Section 4(a)(2) of the Act and on Regulation D promulgated thereunder and in reliance on similar exemptions under applicable
state laws. The Corporation must determine that a potential investor meets certain suitability requirements before offering or selling Securities to such investor. The purpose of this Questionnaire is to assure the Corporation that each investor
will meet the applicable suitability requirements. The information supplied by you will be used in determining whether you meet such criteria, and reliance upon the private offering exemptions from registration is based in part on the information
herein supplied. 
 This Questionnaire does not constitute an offer to sell or a solicitation of an offer to buy any security. Your answers
will be kept strictly confidential. However, by signing this Questionnaire, you will be authorizing the Corporation to provide a completed copy of this Questionnaire to such parties as the Corporation deems appropriate in order to ensure that the
offer and sale of the Securities will not result in a violation of the Act or the securities laws of any state and that you otherwise satisfy the suitability standards applicable to purchasers of the Securities. All potential investors must answer
all applicable questions and complete, date and sign this Questionnaire. Please print or type your responses and attach additional sheets of paper if necessary to complete your answers to any item. 

PART A. BACKGROUND INFORMATION 
 Name of
Beneficial Owner of the Securities:
                                         
                                         
                                         
                  
 Business Address:
                                         
                                         
                                         
                                         
                   

(Number and Street) 

                       
                                         
                                         
                                         
                                         
                           

(City)
                                         
       (State)
                                         
                                         
                              (Zip Code) 

Telephone Number: (___)
                                         
                                         
                                         
                                         
       
 If a corporation, partnership, limited liability company, trust or other entity: 

Type of entity:
                                         
                                         
                                         
                                         
                         

State of formation:
                                        
 Approximate Date of formation:
                                        
                                         
      
 Were you formed for the purpose of investing in the securities being offered? 

Yes ____ No ____ 

 If an individual: 

Residence Address:
                                         
                                         
                                         
                                         
                 
 (Number and Street)

                       
                                         
                                         
                                         
                                         
                           

(City)
                                         
    (State)
                                         
                                         
              (Zip Code) 
 Telephone Number: (___)
                                         
                                         
                                         
                                         
       
 Age: __________ Citizenship: ____________ Where registered to vote: _______________ 

Set forth in the space provided below the state(s), if any, in the United States in which you maintained your residence during the past two
years and the dates during which you resided in each state: 
 Are you a director or executive officer of the Corporation? 

Yes ____ No ____ 

Social Security or Taxpayer Identification No.
                                         
                                         
                                         
             
 PART B. ACCREDITED INVESTOR QUESTIONNAIRE 

In order for the Company to offer and sell the Securities in conformance with state and federal securities laws, the following
information must be obtained regarding your investor status. Please initial each category applicable to you as a Purchaser of Securities of the Company. 
  

	 	— (1)	 A bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or
other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; 

  

	 	— (2)	 A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934;

  

	 	— (3)	 An insurance company as defined in Section 2(13) of the Securities Act; 

 

	 	— (4)	 An investment company registered under the Investment Company Act of 1940 or a business development company
as defined in Section 2(a)(48) of that Act; 

  

	 	— (5)	 A Small Business Investment Company licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of 1958; 

  

	 	— (6)	 A plan established and maintained by a state, its political subdivisions, or any agency or instrumentality
of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

  
 2 

	 	— (7)	 An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the
investment decision is made by a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total
assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors; 

  

	 	— (8)	 A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act
of 1940; 

  

	 	— (9)	 An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation,
Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the Securities, with total assets in excess of $5,000,000; 

 

	 	— (10)	 A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the
Securities, whose purchase is directed by a sophisticated person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of investing in the Company;

  

	 	— (11)	 A natural person whose individual net worth, or joint net worth with that person’s spouse (in each
case, excluding the value of such person’s primary residence), at the time of his purchase exceeds $1,000,000; 

  

	 	— (12)	 A natural person who had an individual income in excess of $200,000 in each of the two most recent years, or
joint income with that person’s spouse in excess of $300,000, in each of those years, and has a reasonable expectation of reaching the same income level in the current year; 

 

	 	— (13)	 An executive officer or director of the Company; 

 

	 	— (14)	 An entity in which all of the equity owners qualify under any of the above subparagraphs. If the undersigned
belongs to this investor category only, list the equity owners of the undersigned, and the investor category which each such equity owner satisfies. 

  

	A.	 FOR EXECUTION BY AN INDIVIDUAL: 

 

					
	
                   
                 
	 	 By
	 	
                       
                         

	 Date
	 		 	
		 	 Print Name:
	 	
                       
                         

	
	 B. FOR EXECUTION BY AN ENTITY:

			
		 	 Entity Name:
	 	
                       
                         

			
	
                   
                 
	 	 By
	 	
                       
                         

	 Date
	 		 	
		 	 Print Name:
	 	
                       
                         

		 	 Title:
	 	
                       
                         

  
 3 

 C. ADDITIONAL SIGNATURES (if required by partnership, corporation or trust document): 

 

					
			
		 	 Entity Name:
	 	
                       
                         

			
	
                   
                 
	 	 By
	 	
                       
                         

	 Date
	 		 	
		 	 Print Name:
	 	
                       
                         

		 	 Title:
	 	
                       
                         

			
		 	 Entity Name:
	 	
                       
                         

			
	
                   
                 
	 	 By
	 	
                       
                         

	 Date
	 		 	
		 	 Print Name:
	 	
                       
                         

		 	 Title:
	 	
                       
                         

  
 4 

 EXHIBIT C-2 

BOOK-ENTRY QUESTIONNAIRE 

Pursuant to Section 2.2(b) of the Agreement, please provide us with the following information: 

 

					
	 1.
	  	 The exact name that the Securities are to be registered in (this is the name that will appear on the book-entry
notation(s)). You may use a nominee name if appropriate:
	  	
                       
                                         
        

			
	 2.
	  	 The relationship between the Purchaser of the Securities and the Registered Holder listed in response to Item 1
above:
	  	
                       
                                         
        

			
	 3.
	  	 The mailing address, telephone and telecopy number of the Registered Holder listed in response to Item 1
above:
	  	
                       
                                         
        

			
		  		  	
                       
                                         
        

			
		  		  	
                       
                                         
        

			
		  		  	
                       
                                         
        

			
		  		  	
                       
                                         
        

			
	 4.
	  	 The Tax Identification Number (or, if an individual, the Social Security Number) of the Registered Holder listed in
response to Item 1 above:
	  	
                       
                                         
        

 EXHIBIT D 

FORM OF OPINION OF COMPANY COUNSEL 

1. The Company is a corporation duly incorporated and validly existing as a corporation under the laws of the State of Delaware and is in good
standing under such laws. The Company has requisite corporate power and authority to own, lease and operate its properties and assets, and to carry on its business as described in the Disclosure Materials and to carry out and perform its obligations
pursuant to the Transaction Documents. The Company is qualified to do business as a foreign corporation in the State of Washington. 
 2. The
authorized capital stock of the Company consists of 200,000,000 shares of common stock, par value $0.001 per share and 10,000,000 shares of preferred stock, par value $0.001 per share. 

3. The Shares delivered on the date hereof have been duly authorized and are validly issued, fully paid and
non-assessable. The Warrant Shares issuable upon exercise of the Warrants based on the exercise price in effect on the date hereof have been duly authorized and reserved for issuance and, when issued and
delivered upon exercise by a holder in accordance with the provisions of the Warrants, will be duly authorized, validly issued, fully paid and non-assessable. The Underlying Shares have been duly authorized,
and when issued upon conversion of the Preferred Stock following requisite stockholder approval as contemplated by the Certificate of Designation (the “Required Stockholder Approval”), will be validly issued, fully paid and non-assessable. 
 4. Each of the Transaction Documents has been duly authorized, executed and delivered by
the Company and constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. 

5. The execution and delivery by the Company of the Transaction Documents, the performance by the Company of its obligations pursuant thereto,
and the issuance and sale of the Securities being delivered on the date hereof pursuant to the Transaction Documents do not violate any provision of (i) the Certificate of Incorporation or the Bylaws; (ii) any U.S. federal, Washington or
New York state law known to us to be customarily applicable to transactions of the nature contemplated in the Transaction Documents; or (iii) the DGCL. 

6. The execution and delivery by the Company of the Transaction Documents, the performance by the Company of its obligations pursuant thereto,
and the issuance and sale of the Securities being delivered on the date hereof pursuant to the Transaction Documents do not breach or constitute a default under any Reviewed Agreement or violate any Reviewed Judgment. 

7. No consent, approval, authorization of, or designation, declaration or filing with any governmental authority on the part of the Company is
required for the valid execution and delivery of the Transaction Documents or the issuance and sale of the Securities, except (i) such as may have been obtained or made under the Securities Act or the Exchange Act, (ii) those that have
been made under the rules of The Nasdaq Stock Market LLC, (iii) such consents, approvals, authorizations, orders, registrations or qualifications as may be required under applicable state securities or Blue Sky laws in connection with the
purchase and distribution of the Securities, (iv) the Required Stockholder Approval, and (v) as otherwise may be expressly contemplated by the Transaction Documents. 

8. No registration of the Securities under the Securities Act is required for the offer and sale of the Common Stock, Preferred Stock and
Warrants (including the Warrant Shares if such Warrant Shares were issued upon exercise as of the date hereof, and the Underlying Shares if such Underlying Shares were issued upon conversion as of the date hereof, assuming the Required Stockholder
Approval had been obtained prior to such issuance) to the Purchasers in the manner contemplated by the Purchase Agreement, it being understood that no opinion is expressed as to any subsequent resale of the Securities. 

 9. Except as disclosed in the SEC Reports or otherwise expressly waived in writing, there
are no contracts, agreements or understandings known to us between the Company and any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the
Company owned or to be owned by such person or to require the Company to include such securities in the securities to be registered pursuant to the Registration Rights Agreement. 

10. The Company is not, as of the date hereof, required to register as an “investment company” as such term is defined in the
Investment Company Act. 

  
 2 

 EXHIBIT E-1 

FORM OF IRREVOCABLE TRANSFER AGENT INSTRUCTIONS (COMMON STOCK) 

As of January [●], 2019 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, NY 11219 
 Attn: Barry
Rosenthal 
 Ladies and Gentlemen: 

Reference is made to that certain Securities Purchase Agreement, dated as of January [•], 2019 (the
“Agreement”), by and among Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and the purchasers named on the signature pages thereto (collectively, and including permitted transferees, the
“Holders”), pursuant to which the Company is issuing to the Holders, inter alia, shares (the “Common Shares”) of Common Stock of the Company, par value $0.001 per share (the “Common Stock”),
and warrants (the “Warrants”), which are exercisable into shares of Common Stock. 
 This letter shall
serve as our irrevocable authorization and direction to you (provided that you are the transfer agent of the Company at such time and the conditions set forth in this letter are satisfied), subject to any stop transfer instructions that we
may issue to you from time to time, if any: 
 (i) to issue book-entry statements in the name of each Holder representing the
number of Common Shares issuable pursuant to the Agreement as set forth on the Schedule of Purchasers delivered herewith, registered in the name of each such Holder, with such Common Shares bearing the restrictive legends identified on the Schedule
of Purchasers; 
 (ii) to issue book-entry statements representing shares of Common Stock upon transfer or resale of the
Common Shares; and 
 (iii) to issue book-entry statements representing shares of Common Stock upon the exercise of the
Warrants (the “Warrant Shares”) to or upon the order of a Holder from time to time upon delivery to you of a properly completed and duly executed Exercise Notice, in the form attached hereto as Annex I, which has been
acknowledged by the Company as indicated by the signature of a duly authorized officer of the Company thereon together with indication of receipt of the exercise price therefor. 

You acknowledge and agree that so long as you have received (a) written confirmation from the Company’s legal
counsel that either (1) a registration statement covering resales of the Common Shares and the Warrant Shares has been declared effective by the Securities and Exchange Commission (the “Commission”) under the Securities Act of
1933, as amended (the “Securities Act”), or (2) the Shares and the Warrant Shares have been sold in conformity with Rule 144 under the Securities Act (“Rule 144”) or are eligible for
sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions and (b) if applicable, a copy of such registration statement, then, unless otherwise required by law, within three (3) Trading Days of your receipt of a notice of
transfer, Common Shares or the Exercise Notice, you shall issue the book-entry statements representing the Common Shares and/or the Warrant Shares, as the case may be, registered in the names of such Holders or transferees, as the case may be, and
such book-entry statements shall not bear any legend restricting transfer of the Common Shares or the Warrant Shares thereby and should not be subject to any stop-transfer restriction; provided, however, that if

 
such Common Shares and Warrant Shares are not registered for resale under the Securities Act or able to be sold under Rule 144 without the requirement for the Company to be in compliance
with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions, then the book-entry statements
for such Common Shares and/or Warrant Shares shall bear the following legend: 
 THE OFFER AND SALE OF THESE SECURITIES HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF (I) IN
THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES; PROVIDED THAT IN CONNECTION WITH ANY FORECLOSURE OR TRANSFER OF THE
SECURITIES, THE TRANSFEROR SHALL COMPLY WITH THE PROVISIONS HEREIN, IN THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT, AND UPON FORECLOSURE OR TRANSFER OF THE SECURITIES, SUCH FORECLOSING PERSON OR TRANSFEREE SHALL COMPLY
WITH ALL PROVISIONS CONTAINED HEREIN, IN THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT. 
 A form
of written confirmation from the Company’s outside legal counsel that a registration statement covering resales of the Common Shares and the Warrant Shares has been declared effective by the Commission under the Securities Act is attached
hereto as Annex II. 
 Please be advised that the Holders are relying upon this letter as an
inducement to enter into the Agreement and, accordingly, each Holder is a third party beneficiary to these instructions. 

Please execute this letter in the space indicated to acknowledge your agreement to act in accordance with these instructions.

  
 2 

 
			
	 Very truly yours,

	
	 ALPINE IMMUNE SCIENCES, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Acknowledged and Agreed: 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	 Date:
	 	 _________________, ______

  
 3 

 Annex I 

FORM OF EXERCISE NOTICE 

[To be executed by the Holder to purchase shares of Common Stock under the Warrant] 

Ladies and Gentlemen: 
 (1) The
undersigned is the Holder of Warrant No. __________ (the “Warrant”) issued by Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined herein have
the respective meanings set forth in the Warrant. 
 (2) The undersigned hereby exercises its right to purchase __________ Warrant Shares
pursuant to the Warrant. 
 (3) The Holder intends that payment of the Exercise Price shall be made as (check one): 

☐ Cash Exercise 

☐ “Cashless Exercise” under Section 10 of the Warrant 

(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $___________ in immediately available funds to the Company in
accordance with the terms of the Warrant. 
 (5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares
determined in accordance with the terms of the Warrant. 
 (6) By its delivery of this Exercise Notice, the undersigned represents and
warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with Section 13(d) of the Securities Exchange Act
of 1934) permitted to be owned under Section 12 of the Warrant to which this notice relates. 
 (7) By its delivery
of this Exercise Notice and pursuant to Section 4(b) of the Warrant, the undersigned certifies to the Company that its representations contained in Sections 3.2(b), (c) and (d) of the Purchase Agreement are true and correct as of the date
hereof as if remade in their entirety (or, in the case of any transferee Holder that is not a party to the Purchase Agreement, such transferee Holder’s certification to the Company that such representations are true and correct as to such
transferee Holder as of the date hereof). 
 Dated: ____________________ 

Name of Holder: ___________________________ 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 (Signature must conform in all respects to name of Holder as specified on the face of the Warrant) 

 ACKNOWLEDGEMENT 

The Company hereby acknowledges this Exercise Notice and receipt of the appropriate exercise price and hereby directs American
Stock Transfer & Trust Company, LLC to issue the above indicated number of shares of Common Stock in accordance with the Irrevocable Transfer Agent Instructions dated __________, ____, from the Company and acknowledged and agreed to by
American Stock Transfer & Trust Company, LLC. 
  

			
	ALPINE IMMUNE SCIENCES, INC.

 
			
		
	  
 By:
	 	  
  

	 Name:
	 	  

	 Title:
	 	  

 Annex II 

FORM OF NOTICE OF EFFECTIVENESS OF REGISTRATION STATEMENT 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 
 Brooklyn, NY
11219 
 Attn: Barry Rosenthal 

Re: Alpine Immune Sciences, Inc. 

Ladies and Gentlemen: 

We are counsel to Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and have represented
the Company in connection with that certain Securities Purchase Agreement, dated as of January [ 🌑 ], 2019, entered into by and among the Company and the purchasers named therein
(collectively, the “Purchasers”) pursuant to which the Company issued to the Purchasers, inter alia, shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), and warrants
exercisable for shares of Common Stock (the “Warrants”). Pursuant to that certain Registration Rights Agreement of even date, the Company agreed to register the resale of the Common Stock, including, inter alia, the shares of
Common Stock issuable upon exercise of the Warrants and upon conversion of the Preferred Stock (collectively, the “Registrable Securities”), under the Securities Act of 1933, as amended (the “Securities Act”). In
connection with the Company’s obligations under the Registration Rights Agreement, on                 , ____, the Company filed a
Registration Statement on Form S-1 (File No. 333-                ) (the
“Registration Statement”) with the Securities and Exchange Commission (the “Commission”) relating to the Registrable Securities which names each of the Purchasers as a selling stockholder thereunder. 

In connection with the foregoing, we advise you that a member of the Commission’s staff has advised us by telephone that
the Commission has entered an order declaring the Registration Statement effective under the Securities Act at ____ [a.m.][p.m.] on __________, ____, and we have no knowledge, after review of the information contained on the Commission’s EDGAR
website, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the Commission and the Registrable Securities are available for resale under the Securities Act
pursuant to the Registration Statement. 
 This letter shall serve as our standing notice to you that the Common Stock may
be freely transferred by the Purchasers pursuant to the Registration Statement. You need not require further letters from us to effect any future legend-free issuance or reissuance of shares of Common Stock to the Purchasers or the transferees of
the Purchasers, as the case may be, as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated __________, ____, provided at the time of such reissuance, the Company has not otherwise notified you that the Registration
Statement is unavailable for the resale of the Registrable Securities. This letter shall serve as our standing instructions with regard to this matter. 
  

			
	 Very truly yours,

	
	WILSON SONSINI GOODRICH & ROSATI, PROFESSIONAL CORPORATION

 
			
		
	 By:
	 	  

 EXHIBIT E-2 

FORM OF IRREVOCABLE TRANSFER AGENT INSTRUCTIONS (PREFERRED STOCK) 

As of January [•], 2019 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, NY 11219 
 Attn: Barry Rosenthal 

Ladies and Gentlemen: 

Reference is made to that certain Securities Purchase Agreement, dated as of January [•], 2019 (the
“Agreement”), by and among Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and the purchasers named on the signature pages thereto (collectively, and including permitted transferees, the
“Holders”), pursuant to which the Company is issuing to the Holders, inter alia, (i) shares (the “Preferred Shares”) of Series X Convertible Preferred Stock of the Company, par value $0.001 per share
(the “Preferred Stock”), which Preferred Stock is convertible into shares (the “Underlying Shares”) of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), in accordance
with the terms of the Certificate of Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock dated January [•], 2019 (the “Certificate of Designation”), and (ii) warrants (the
“Warrants”), which are exercisable into shares of Common Stock. 
 This letter shall serve as our
irrevocable authorization and direction to you (provided that you are the transfer agent of the Company at such time and the conditions set forth in this letter are satisfied), subject to any stop transfer instructions that we may issue to
you from time to time, if any: 
 (i) to issue book-entry statements in the name of each Holder representing the number of
Preferred Shares issuable pursuant to the Agreement as set forth on the Schedule of Purchasers delivered herewith, registered in the name of each such Holder, with such Preferred Shares bearing the restrictive legends identified on the Schedule of
Purchasers; 
 (ii) to issue book-entry statements representing shares of Preferred Stock upon transfer or resale of the
Preferred Shares; and 
 (iii) to issue book-entry statements representing shares of Common Stock upon the exercise of the
Warrants (the “Warrant Shares”) to or upon the order of a Holder from time to time upon delivery to you of a properly completed and duly executed Exercise Notice, in the form attached hereto as Annex I, which has been
acknowledged by the Company as indicated by the signature of a duly authorized officer of the Company thereon together with an indication of receipt of the exercise price therefor. 

Upon the Company’s receipt of a Holder’s duly completed and executed Notice of Conversion as set forth in Annex A to
the Company’s Certificate of Designation, the Company shall issue to American Stock Transfer & Trust Company, LLC (the “Transfer Agent”) a letter signed by its counsel authorizing the issuance upon the conversion of
the certain number of shares of the Preferred Stock set forth in the Notice of Conversion into the Company’s Common Stock and setting forth the transfer restrictions and legends, if any, to be attached to the Underlying Shares (the
“Counsel Letter”). If the converting Holder has been issued a physical stock certificate for its Preferred Stock (the “Stock Certificate”), such Holder shall mail the physical copy of such Stock Certificate to the
Transfer Agent along with an instruction letter specifying (i) the number of shares of Preferred Stock to be converted into Underlying Shares and 

  
 2 

 
(ii) whether such Holder would like their remaining Preferred Stock (if any) kept in book-entry or certificated form (the “Instruction Letter”). Once the Company has received
such Notice of Conversion from the Holder, and the Transfer Agent has received the Counsel Letter from the Company’s legal counsel and the Stock Certificate (if any) and the Instruction Letter from the Holder, the Transfer Agent shall process
such Underlying Shares consistent with the conversion mechanics and timing outlined in Section 6(e) of the Certificate of Designation. 

You acknowledge and agree that so long as you have received (a) written confirmation from the Company’s legal
counsel that either (1) a registration statement covering resales of the Underlying Shares and the Warrant Shares has been declared effective by the Securities and Exchange Commission (the “Commission”) under the Securities Act
of 1933, as amended (the “Securities Act”), or (2) the Preferred Shares, the Underlying Shares and the Warrant Shares have been sold in conformity with Rule 144 under the Securities Act
(“Rule 144”) or are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and
without volume or manner-of-sale restrictions and (b) if applicable, a copy of such registration statement, then, unless otherwise required by law, within three
(3) Trading Days of your receipt of written confirmation of (1) or (2) above or the Exercise Notice or Notice of Conversion, you shall remove any restrictive legend or stop transfer order and/or transfer the Preferred Shares, Underlying
Shares and Warrant Shares registered in the names of Holders to the applicable transferee and such Preferred Shares, Underlying Shares and Warrant Shares shall not bear any legend restricting transfer of the Preferred Shares, Underlying Shares and
Warrant Shares thereby and should not be subject to any stop-transfer restriction; provided, however, that if such Preferred Shares, Underlying Shares and Warrant Shares are not registered for resale under the Securities Act or able to
be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions, then the book-entry statements for such Preferred Shares, Underlying Shares and/or Warrant Shares shall bear the following legend: 

THE OFFER AND SALE OF THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY
LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES; PROVIDED THAT IN CONNECTION WITH ANY FORECLOSURE OR TRANSFER OF THE SECURITIES, THE TRANSFEROR SHALL COMPLY WITH THE PROVISIONS HEREIN, IN
THE SECURITIES PURCHASE AGREEMENT AND 

  
 3 

 THE REGISTRATION RIGHTS AGREEMENT, AND UPON FORECLOSURE OR
TRANSFER OF THE SECURITIES, SUCH FORECLOSING PERSON OR TRANSFEREE SHALL COMPLY WITH ALL PROVISIONS CONTAINED HEREIN, IN THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT. 

A form of written confirmation from the Company’s outside legal counsel that a registration statement covering resales of
the Underlying Shares and Warrant Shares has been declared effective by the Commission under the Securities Act is attached hereto as Annex II. 

Please be advised that the Holders are relying upon this letter as an inducement to enter into the Agreement and, accordingly,
each Holder is a third party beneficiary to these instructions. 
 Please execute this letter in the space indicated to
acknowledge your agreement to act in accordance with these instructions. 
 [Signature Page Follows] 

  
 4 

 
			
	 Very truly yours,

	
	 ALPINE IMMUNE SCIENCES, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Acknowledged and Agreed: 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

		
	 Date:
	 	 January __, 2019

 [Signature Page to Instruction Letter] 

 Annex I 

FORM OF EXERCISE NOTICE 

[To be executed by the Holder to purchase shares of Common Stock under the Warrant] 

Ladies and Gentlemen: 
 (1) The
undersigned is the Holder of Warrant No. __________ (the “Warrant”) issued by Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined herein have
the respective meanings set forth in the Warrant. 
 (2) The undersigned hereby exercises its right to purchase __________ Warrant Shares
pursuant to the Warrant. 
 (3) The Holder intends that payment of the Exercise Price shall be made as (check one): 

☐ Cash Exercise 

☐ “Cashless Exercise” under Section 10 of the Warrant 

(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of $___________ in immediately available funds to the Company in
accordance with the terms of the Warrant. 
 (5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares
determined in accordance with the terms of the Warrant. 
 (6) By its delivery of this Exercise Notice, the undersigned represents and
warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with Section 13(d) of the Securities Exchange Act
of 1934) permitted to be owned under Section 12 of the Warrant to which this notice relates. 
 (7) By its delivery
of this Exercise Notice and pursuant to Section 4(b) of the Warrant, the undersigned certifies to the Company that its representations contained in Sections 3.2(b), (c) and (d) of the Purchase Agreement are true and correct as of the date
hereof as if remade in their entirety (or, in the case of any transferee Holder that is not a party to the Purchase Agreement, such transferee Holder’s certification to the Company that such representations are true and correct as to such
transferee Holder as of the date hereof). 
 Dated: ____________________ 

Name of Holder: ___________________________ 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 (Signature must conform in all respects to name of Holder as specified on the face of the Warrant) 

 ACKNOWLEDGEMENT 

The Company hereby acknowledges this Exercise Notice and receipt of the appropriate exercise price and hereby directs American
Stock Transfer & Trust Company, LLC to issue the above indicated number of shares of Common Stock in accordance with the Irrevocable Transfer Agent Instructions dated __________, ____, from the Company and acknowledged and agreed to by
American Stock Transfer & Trust Company, LLC. 
  

			
	ALPINE IMMUNE SCIENCES, INC.
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	

 Annex II 

FORM OF NOTICE OF EFFECTIVENESS OF REGISTRATION STATEMENT 

American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 
 Brooklyn, NY
11219 
 Attn: Barry Rosenthal 

Re: Alpine Immune Sciences, Inc. 

Ladies and Gentlemen: 

We are counsel to Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and have represented
the Company in connection with that certain Securities Purchase Agreement, dated as of January [•], 2019, entered into by and among the Company and the purchasers named therein (collectively, the “Purchasers”) pursuant to
which the Company issued to the Purchasers, inter alia, shares (the “Preferred Shares”) of Series X Convertible Preferred Stock of the Company, par value $0.001 per share (the “Preferred Stock”), which
Preferred Stock is convertible into shares (the “Underlying Shares”) of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), in accordance with the terms of the Certificate of
Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock dated January [•], 2019 (the “Certificate of Designation”), and (ii) warrants (the “Warrants”), which are
exercisable into shares of Common Stock. Pursuant to that certain Registration Rights Agreement of even date, the Company agreed to register the resale of the Common Stock, including, inter alia, the shares of Common Stock issuable upon
exercise of the Warrants and upon conversion of the Preferred Stock (collectively, the “Registrable Securities”), under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the
Company’s obligations under the Registration Rights Agreement, on                 , ____, the Company filed a Registration Statement on Form S-1 (File No. 333-                ) (the “Registration Statement”) with the
Securities and Exchange Commission (the “Commission”) relating to the Registrable Securities which names each of the Purchasers as a selling stockholder thereunder. 

In connection with the foregoing, we advise you that a member of the Commission’s staff has advised us by telephone that
the Commission has entered an order declaring the Registration Statement effective under the Securities Act at ____ [a.m.][p.m.] on __________, ____, and we have no knowledge, after review of the information contained on the Commission’s EDGAR
website, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the Commission and the Registrable Securities are available for resale under the Securities Act
pursuant to the Registration Statement. 
 This letter shall serve as our standing notice to you that the Underlying Shares
and Warrant Shares may be freely transferred by the Purchasers pursuant to the Registration Statement. You need not require further letters from us to effect any future legend-free issuance or reissuance of shares of Common Stock to the Purchasers
or the transferees of the Purchasers, as the case may be, as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated __________, ____, provided at the time of such reissuance, the Company has not otherwise notified you that
the Registration Statement is unavailable for the resale of the Registrable Securities. This letter shall serve as our standing instructions with regard to this matter. 

 

			
	 Very truly yours,

	
	WILSON SONSINI GOODRICH & ROSATI, PROFESSIONAL CORPORATION

 
			
		
	 By:
	 	  

 EXHIBIT F 

FORM OF SECRETARY’S CERTIFICATE 

The undersigned hereby certifies that he is the duly elected, qualified and acting Secretary of Alpine Immune Sciences, Inc., a Delaware
corporation (the “Company”), and that as such he is authorized to execute and deliver this certificate in the name and on behalf of the Company and in connection with the Securities Purchase Agreement, dated as of
January [•], 2019, by and among the Company and the investors party thereto (the “Securities Purchase Agreement”), and further certifies in his official capacity, in the name and on behalf of the Company, the items set
forth below. Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Securities Purchase Agreement. 

1. Attached hereto as Exhibit A is a true, correct and complete copy of the resolutions duly adopted by the Board of
Directors of the Company and the Pricing Committee of the Board of Directors. Such resolutions have not in any way been amended, modified, revoked or rescinded, have been in full force and effect since their adoption to and including the date hereof
and are now in full force and effect. 
 2. Attached hereto as Exhibit B is a true, correct and complete copy of
the Certificate of Incorporation of the Company, together with any and all amendments and certificates of designation thereto currently in effect, and no action has been taken to further amend, modify or repeal such Certificate of Incorporation, the
same being in full force and effect in the attached form as of the date hereof. 
 3. Attached hereto as Exhibit C
is a true, correct and complete copy of the Bylaws of the Company and any and all amendments thereto currently in effect, and no action has been taken to further amend, modify or repeal such Bylaws, the same being in full force and effect in the
attached form as of the date hereof. 
 4. Each person listed below has been duly elected or appointed to the position(s) indicated opposite
his name and is duly authorized to sign the Securities Purchase Agreement and each of the Transaction Documents on behalf of the Company, and the signature appearing opposite such person’s name below is such person’s genuine signature.

  

					
	 Name
	  	 Position
	  	 Signature

			
	 Mitchell H. Gold
	  	 Chief Executive Officer
	  	                                   
         
			
	 Mark Litton
	  	 President and Chief Operating Officer
	  	                                   
         
			
	 Paul Rickey
	  	 Chief Financial Officer
	  	                                   
         

 IN WITNESS WHEREOF, the undersigned has hereunto set his hand as of this ____ day of
January, 2019. 
  

	
	  
 Secretary

 I, Mitchell H. Gold, Chief Executive Officer, hereby certify that David Miller is the duly elected,
qualified and acting Secretary of the Company and that the signature set forth above is his true signature. 
  

	
	  
 Chief Executive
Officer

 EXHIBIT A 

Resolutions 

 EXHIBIT B 

Certificate of Incorporation 

 EXHIBIT C 

Bylaws 

 EXHIBIT G 

FORM OF OFFICER’S CERTIFICATE 

The undersigned, the Chief Executive Officer of Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”),
pursuant to Section 5.1(i) of the Securities Purchase Agreement, dated as of January [•], 2019, by and among the Company and the investors signatory thereto (the “Securities Purchase Agreement”), hereby represents,
warrants and certifies as follows (capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Securities Purchase Agreement): 
  

	 	1.	 The representations and warranties of the Company contained in the Securities Purchase Agreement are true
and correct in all material respects (except for those representations and warranties which are qualified as to materiality or Material Adverse Effect, in which case, such representations and warranties shall be true and correct in all respects) as
of the date when made and as of the date hereof, as though made on and as of such date, except for such representations and warranties that speak as of a specific date. 

 

	 	2.	 The Company has performed, satisfied and complied in all material respects with all covenants, agreements
and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the date hereof. 

IN WITNESS WHEREOF, the undersigned has executed this certificate this ___ day of __________, _____. 

Chief Executive Officer 
  

	
	  
 Chief Executive
Officer

 EXHIBIT H 

WIRE INSTRUCTIONS 

 EXHIBIT I 

FORM OF LOCK-UP AGREEMENT 

January ___, 2019 
 PIPER
JAFFRAY & CO. 
 800 Nicollet Mall, Suite 1000 

Minneapolis, MN 55402 
 Re: Private Placement of Securities 

Ladies and Gentlemen: 

The undersigned understands that Piper Jaffray & Co. proposes to act as the placement agent (the “Placement
Agent”), for Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), in connection with a proposed private placement (the “Offering”) of shares (the “Common Shares”) of
common stock, par value $0.001 per share (the “Common Stock”), shares (the “Preferred Shares”) of Series X Preferred Stock, par value $0.001 per share (the “Preferred Stock”) and warrants to
purchase Common Stock (the “Warrants” and together with the Common Shares and the Preferred Shares, the “Securities”), of the Company. 

In order to induce the Placement Agent to continue its efforts in connection with the Offering, the undersigned hereby agrees
that for a period (the “Lock-Up Period”) from the date hereof until the earlier of (i) one hundred eighty (180) days following the closing date of the Offering and (ii) thirty
(30) days following the date of effectiveness of the registration statement registering the resale of the Common Shares and shares of Common Stock issuable upon exercise of the Warrants and/or upon the conversion of the Preferred Stock filed by the
Company with the Securities and Exchange Commission in connection with such Offering, the undersigned will not, without the prior written consent of the Placement Agent, directly or indirectly, (1) offer, sell, contract to sell, pledge, sell
any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of any shares of the Common Stock, or any securities convertible into or exercisable
or exchangeable for the Common Stock (including, without limitation, shares of Common Stock or any such securities which may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations promulgated under the
Securities Act of 1933, as the same may be amended or supplemented from time to time (such shares or securities, the “Beneficially Owned Shares”)); (2) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of the Beneficially Owned Shares, Common Stock, or any securities convertible into or exchangeable for the Common Stock, regardless of whether any such transaction described herein is
to be settled by delivery of the Common Stock or such other securities, or by delivery of cash or otherwise; (3) make any demand for, or exercise any right with respect to, the registration of any of the Beneficially Owned Shares, Common Stock
or any security convertible into or exercisable of exchangeable for the Common Stock; or (4) publicly announce any intention to do any of the foregoing; provided, however, that the obligations under this letter agreement (the
“Lock-Up Agreement”) shall not apply to any Securities acquired in connection with the Offering. 

Notwithstanding the foregoing, the restrictions set forth in clause (1) and (2) above shall not apply to
(a) transfers (i) as a bona fide gift or gifts, provided that the donee or donees thereof agree to be bound in writing by the restrictions set forth herein, (ii) to any trust for the direct or indirect benefit of the
undersigned or the immediate family of the undersigned, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and, provided further, that any such transfer shall not involve a

 
disposition for value, (iii) with the prior written consent of Piper Jaffray & Co., (iv) effected pursuant to any exchange of “underwater” options with the Company,
(v) to any beneficiary of the undersigned pursuant to a will or other testamentary document or applicable laws of descent; provided that the recipient agrees to be bound in writing by the restrictions set forth herein or (vi) to a
spouse, former spouse, child or other dependent pursuant to a domestic relations order or pursuant to a settlement agreement in connection with a domestic relations matter, provided that, other than with respect to such a transfer done
pursuant to a court order, the assignee or transferee thereof agrees to be bound in writing by the restrictions set forth herein, (b) the acquisition or exercise of an option or warrant to purchase shares of Common Stock (or any securities
convertible into or exercisable or exchangeable for Common Stock), including the sale of a portion of stock to be issued in connection with such exercise to finance a “cashless” exercise or a “net exercise” to pay the exercise
price and/or withholding tax and remittance obligations, provided that any such shares issued upon exercise of such option or warrant (or any securities convertible into or exercisable or exchangeable for Common Stock) shall continue to be
subject to the applicable provisions of this Lock-Up Agreement, (c) the purchase or sale of the Company’s securities pursuant to a plan, contract or instruction that satisfies all of the requirements
of Rule 10b5-1(c)(1)(i)(B) (a “10b5-1 Plan”) that was in effect prior to the date hereof, (d) the entry into a 10b5-1 Plan, provided that no sales of the Company’s securities may be effected until after the expiration of the Lock-Up Period and no public announcement or
filing under the Exchange Act of 1934, as amended (the “Exchange Act”), is required of or voluntarily made by the Company regarding the establishment of such 10b5-1 Plan, (e) the
disposition of shares of Common Stock to satisfy any tax withholding obligations upon the vesting of shares of restricted Common Stock held by the undersigned or (f) the transfer of shares of Common Stock or any security convertible into or
exercisable or exchangeable for Common Stock pursuant to a bona fide third party tender offer, merger, consolidation or other similar transaction made to all holders of the Common Stock involving a “change of control” of the Company
occurring after the consummation of the Offering, that has been approved by the board of directors of the Company, provided, that if the tender offer, merger, consolidation or other such transaction is not completed, the Common Stock owned by
the undersigned shall remain subject to the restrictions contained in this letter agreement. For purposes of clause (f) in the immediately preceding sentence, “change of control” means the consummation of any bona fide third party
tender offer, merger, consolidation or other similar transaction the result of which is that any “person” (as defined in Section 13(d)(3) of the Exchange Act), or group of persons, other than the Company, becomes the beneficial owner
(as defined in Rules 13d-3 and 13d-5 of the Exchange Act) of more than 50% of total voting power of the voting stock of the Company . For purposes of this Lock-Up Agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin. None of the restrictions set forth in this Lock-Up Agreement shall apply to Common Stock acquired in open market transactions. In addition, if the undersigned is a partnership, limited liability company, trust, corporation or similar entity, it may
distribute the Common Stock or Beneficially Owned Shares to its partners, members or stockholders; provided, however, that in each such case, prior to any such transfer, each transferee shall execute a duplicate form of this Lock-Up Agreement or execute an agreement, reasonably satisfactory to Piper Jaffray & Co., pursuant to which each transferee shall agree to receive and hold such Common Stock or Beneficially Owned Shares
subject to the provisions hereof, and there shall be no further transfer except in accordance with the provisions hereof. 

The foregoing restrictions are expressly agreed to preclude the undersigned from engaging in any hedging or other transaction
which is designed to or reasonably expected to lead to or result in a sale or disposition of the Beneficially Owned Shares or Common Stock even if such Beneficially Owned Shares or Common Stock would be disposed of by someone other than the
undersigned. Such prohibited hedging or other transactions would include without limitation any short sale or any purchase, sale or grant of any right (including without limitation any put option or put equivalent position or call option or call
equivalent position) with respect to any of the Beneficially Owned Shares or Common Stock or with respect to any security that includes, relates to, or derives any significant part of its value from such Beneficially Owned Shares or Common Stock.

  
 2 

 The undersigned hereby agrees and consents to the entry of stop transfer
instructions with the Company’s transfer agent against the transfer of securities of the Company held by the undersigned during the Lock-Up Period (as may have been extended pursuant hereto), except in
compliance with this Lock-Up Agreement. 
 The undersigned understands that, if the
Securities Purchase Agreement executed by the Company and the Purchasers in connection with the Offering does not become effective, or if the Offering shall terminate or be terminated prior to payment for and delivery of the Securities to be sold
thereunder, or if the Purchase Agreement has not been executed within thirty (30) days of the date hereof, this Lock-Up Agreement shall be automatically terminated and the undersigned shall be released
from all obligations under this Lock-Up Agreement. 
 The undersigned hereby
represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement. This Lock-Up Agreement is irrevocable and all authority
herein conferred or agreed to be conferred shall survive the death or incapacity of the undersigned and any obligations of the undersigned shall be binding upon the heirs, personal representatives, successors and assigns of the undersigned. The
undersigned agrees that Purchasers of the Securities in the Offering shall be intended third-party beneficiaries of the undersigned’s obligations under this Lock-Up Agreement. 

This Lock-Up Agreement shall be governed by and construed in accordance with the laws
of the State of New York, without regard to the conflict of laws principles thereof. 
  

			
	 Very truly yours,

		
	 Print Name:
	 	          

	 Print Title:
	 	          

	 Signature:
	 	          

  
 3 

 EXHIBIT J 

LIST OF DIRECTORS AND EXECUTIVE OFFICERS 

EXECUTING LOCK-UP AGREEMENTS 

Robert Conway 
 Peter Thompson, M.D. 

James N. Topper M.D., Ph.D. 
 Paul Sekhri 

Mitchell H. Gold, M.D. 
 Stanford
Peng, M.D., Ph.D. 
 Paul Rickey 
 Mark Litton,
Ph.D. 
 Jay Venkatesan, M.D. 
 Christopher
Peetz 

 EXHIBIT K 

CERTIFICATE OF DESIGNATION OF SERIES X PREFERRED STOCK 

ALPINE IMMUNE SCIENCE, INC. 

CERTIFICATE OF DESIGNATION OF PREFERENCES, 

RIGHTS AND LIMITATIONS 

OF 
 SERIES X CONVERTIBLE
PREFERRED STOCK 
 PURSUANT TO SECTION 151 OF THE 

DELAWARE GENERAL CORPORATION LAW 

ALPINE IMMUNE SCIENCES, INC., Delaware corporation (the “Corporation”), in accordance with the provisions of
Section 103 of the Delaware General Corporation Law (the “DGCL”) does hereby certify that, in accordance with Sections 141(c) and 151 of the DGCL, the following resolution was duly adopted by a committee of the Board of
Directors of the Corporation acting upon authority delegated by the Board, on January [•], 2019: 
 RESOLVED, pursuant to
authority expressly set forth in the Amended and Restated Certificate of Incorporation of the Corporation (the “Certificate of Incorporation”), the issuance of a series of Preferred Stock designated as the Series X
Convertible Preferred Stock, par value $0.001 per share, of the Corporation is hereby authorized and the designation, number of shares, powers, preferences, rights, qualifications, limitations and restrictions thereof (in addition to any provisions
set forth in the Certificate of Incorporation that are applicable to the Preferred Stock of all classes and series) are hereby fixed, and the Certificate of Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock
(the “Certificate of Designation”) is hereby approved as follows: 
 SERIES X CONVERTIBLE PREFERRED STOCK 

SECTION 1. Definitions. For the purposes hereof, the following terms shall have the
following meanings: 
 “Affiliate” means any person or entity that, directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with a person or entity, as such terms are used in and construed under Rule 144 under the Securities Act of 1933, as amended. With respect to a Holder, any investment fund or
managed account that is managed on a discretionary basis by the same investment manager as such Holder will be deemed to be an Affiliate of such Holder. 

“Business Day” means any day except Saturday, Sunday, any day which shall be a federal legal holiday in the United
States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Common Stock” means the Corporation’s common stock, par value $0.001 per share, and stock of any other class of
securities into which such securities may hereafter be reclassified into. 

 “Conversion Price” for the Series X Preferred Stock shall be
$[•], subject to adjustment as provided herein. 
 “Conversion Shares” means, collectively, the shares of
Common Stock issuable upon conversion of the shares of Series X Preferred Stock in accordance with the terms hereof. 

“DGCL” shall mean the Delaware General Corporation Law. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Holder” means any holder of Series X Preferred Stock. 

“Issuance Date” means the first date on which any shares of Series X Preferred Stock are issued by the Corporation.

 “Person” means any individual or corporation, partnership, trust, incorporated or unincorporated association,
joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Purchase Agreement” means the Securities Purchase Agreement, dated as of January 15, 2019 by and among Alpine
Immune Sciences, Inc., a Delaware corporation, and each purchaser identified on the signature pages thereto. 
 “Stated
Value” means $[•] per share, subject to increase as set forth in Section 3 below. 

“Threshold Amount” means 19.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock pursuant to an applicable Notice of Conversion. 
 “Trading Day”
means a day on which the Common Stock is traded for any period on a principal securities exchange or if the Common Stock is not traded on a principal securities exchange, on a day that the Common Stock is traded on another securities market on which
the Common Stock is then being traded. 
 SECTION 2. Designation, Amount and Par Value;
Assignment. 
 (a) The series of preferred stock designated by this Certificate of Designation shall be designated as the
Corporation’s Series X Convertible Preferred Stock (the “Series X Preferred Stock”) and the number of shares so designated shall be [•]. The Series X Preferred Stock shall have a par value of $0.001 per share.

 (b) The Corporation shall register shares of the Series X Preferred Stock, upon records to be maintained by the Corporation for that
purpose (the “Series X Preferred Stock Register”), in the name of the Holders thereof from time to time. The Corporation may deem and treat the registered Holder of shares of Series X Preferred Stock as the absolute owner
thereof for the purpose of any conversion thereof and for all other purposes. Shares of Series X Preferred Stock will be issued in book-entry form. If physical certificates are requested by the Holder, the

 
Corporation will use commercially reasonable efforts to prepare and deliver such physical certificate as soon as reasonably practicable. The Corporation shall register the transfer of any
shares of Series X Preferred Stock in the Series X Preferred Stock Register, upon surrender of the certificates (if applicable) evidencing such shares to be transferred, duly endorsed by the Holder thereof, to the Corporation at its address
specified herein. Upon any such registration or transfer, a new book-entry notation (or certificate, if previously requested) evidencing the shares of Series X Preferred Stock so transferred shall be issued to the transferee and a new book-entry
notation (or certificate, if previously requested) evidencing the remaining portion of the shares not so transferred, if any, shall be issued to the transferring Holder, within three (3) Business Days, or as soon as reasonably practicable if a
certificate is requested. The provisions of this Certificate of Designation are intended to be for the benefit of all Holders from time to time and shall be enforceable by any such Holder. 

SECTION 3. Dividends. Holders shall be entitled to receive, and the Corporation shall
pay, dividends on shares of Series X Preferred Stock equal (on an
as-if-converted-to-Common-Stock basis) to and in the same form as dividends (other than
dividends in the form of Common Stock, which shall be made in accordance with Section 7(a)) actually paid on shares of the Common Stock when, as and if such dividends (other than dividends in the form of Common Stock, which
shall be made in accordance with Section 7(a)) are paid on shares of the Common Stock. Other than as set forth in the previous sentence, no other dividends shall be paid on shares of Series X Preferred Stock; and the
Corporation shall pay no dividends (other than dividends in the form of Common Stock) on shares of the Common Stock unless it simultaneously complies with the previous sentence. All declared but unpaid dividends on shares of Series X Preferred Stock
shall increase the Stated Value of such shares, but when such dividends are actually paid any such increase in the Stated Value shall be rescinded. 

SECTION 4. Voting Rights. Except as otherwise provided herein or as otherwise required
by the DGCL, the Series X Preferred Stock shall have no voting rights. However, as long as any shares of Series X Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of the Holders of a majority of the then
outstanding shares of the Series X Preferred Stock, (i) alter or change adversely the powers, preferences or rights given to the Series X Preferred Stock or alter or amend this Certificate of Designation, amend or repeal any provision of, or
add any provision to, the Certificate of Incorporation or bylaws of the Corporation, or file any articles of amendment, certificate of designations, preferences, limitations and relative rights of any series of preferred stock, if such action would
adversely alter or change the preferences, rights, privileges or powers of, or restrictions provided for the benefit of the Series X Preferred Stock in a manner materially different than the effect on the Common Stock, regardless of whether any of
the foregoing actions shall be by means of amendment to the Certificate of Incorporation or by merger, consolidation or otherwise, (ii) issue further shares of Series X Preferred Stock or increase or decrease (other than by conversion) the
number of authorized shares of Series X Preferred Stock, or (iii) enter into any agreement with respect to any of the foregoing. 
 Any
vote required or permitted under Section 4 may be taken at a meeting of the Holders of the Series X Preferred Stock or through the execution of an action by written consent in lieu of such meeting, provided that the consent is executed by
Holders representing a majority of the then outstanding shares of Series X Preferred Stock. 

 SECTION 5. Liquidation. Upon any
liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary (a “Liquidation”), the assets of the Corporation available for distribution to its stockholders shall be distributed pari
passu among the holders of the shares of Common Stock and Series X Preferred Stock, pro rata based on the number of shares held by each such holder, treating for this purpose all such securities as if they had been converted to Common Stock
pursuant to the terms of the Certificate of Incorporation (without regard to the Threshold Amount) immediately prior to such Liquidation. The Corporation shall mail written notice of any such Liquidation not less than thirty (30) days prior to
the payment date stated therein, to each Holder of shares of Series X Preferred Stock. 

SECTION 6. Conversion. 

(a) Conversions at Option of Holder. Each share of Series X Preferred Stock shall be convertible, at any time and from time to time from
and after the Issuance Date, at the option of the Holder thereof, into a number of shares of Common Stock equal to the product of the Conversion Ratio and the number of shares of Series X Preferred Stock to be converted. Holders shall effect
conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice of Conversion”), duly completed and executed. Other than a conversion following a Fundamental
Transaction or following a notice provided for under Section 7(d)(ii), the Notice of Conversion must specify at least a number of shares of Series X Preferred Stock to be converted equal to the lesser of (x) 100 shares
(such number subject to appropriate adjustment following the occurrence of an event specified in Section 7(a)) and (y) the number of shares of Series X Preferred Stock then held by the Holder. Provided the
Corporation’s transfer agent is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer program, the Notice of Conversion may specify, at the Holder’s election, whether the
applicable Conversion Shares shall be credited to the DTC participant account nominated by the Holder through DTC’s Deposit Withdrawal Agent Commission system (a “DWAC Delivery”). The “Conversion
Date”, or the date on which a conversion shall be deemed effective, shall be defined as the Trading Day that the Notice of Conversion, completed and executed, is sent by facsimile to, and received during regular business hours by, the
Corporation; provided, that the original certificate(s) (if any) representing such shares of Series X Preferred Stock being converted, duly endorsed, and the accompanying Notice of Conversion, are received by the Corporation within three
(3) Trading Days thereafter. In all other cases, the Conversion Date shall be defined as the Trading Day on which the original shares of Series X Preferred Stock being converted, duly endorsed, and the accompanying Notice of Conversion, are
received by the Corporation. The calculations set forth in the Notice of Conversion shall control in the absence of manifest or mathematical error. 

(b) Conversion Ratio. The “Conversion Ratio” for each share of Series X Preferred Stock shall be equal to the
Stated Value divided by the Conversion Price. 
 (c) Threshold Amount Limitation. Notwithstanding anything herein to the contrary,
until the Requisite Approval (as defined below) has been obtained, the Corporation shall not effect any conversion of the Series X Preferred Stock, and a Holder shall not have the right to convert, and shall be deemed not to have converted, any
portion of the Series X Preferred Stock, to the extent that, after giving effect to an attempted conversion set forth on an applicable Notice of Conversion, such Holder (together with any other Persons whose beneficial ownership of

 
Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) or Section 16 of the Exchange Act and the applicable regulations of the Commission, including any
“group” of which the Holder is a member (the foregoing, “Attribution Parties”)) would beneficially own a number of shares of Common Stock in excess of the Threshold Amount. For purposes of the foregoing sentence,
the number of shares of Common Stock beneficially owned by such Holder and its Attribution Parties shall include the number of shares of Common Stock issuable upon conversion of the Series X Preferred Stock subject to the Notice of Conversion with
respect to which such determination is being made, but shall exclude the number of shares of Common Stock which are issuable upon (A) conversion of the remaining, unconverted shares of Series X Preferred Stock beneficially owned by such Holder
or any of its Attribution Parties, and (B) exercise or conversion of the unexercised or unconverted portion of any other securities of the Corporation (including any warrants) beneficially owned by such Holder or any of its Attribution Parties
that, in the case of both (A) and (B), are subject to a limitation on conversion or exercise similar to the limitation contained herein. For purposes of this Section 6(c), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the applicable regulations of the Commission. In addition, for purposes of this Certificate of Designation, “group” has the meaning set forth in Section 13(d) of the Exchange
Act and the applicable regulations of the Commission. In order to ensure that a Holder and its Attribution Parties do not exceed the Threshold Amount in connection with any Notice of Conversion, upon delivery of any Notice of Conversion, such Holder
shall inform the Corporation in such Notice of Conversion of the number of shares of Common Stock then beneficially owned by such Holder and its Attribution Parties as determined in accordance with Section 13(d) of the Exchange Act and the
applicable regulations of the Commission, and such notice shall be deemed not to be delivered to the extent (and only to the extent) such Threshold Amount would be exceeded. The Corporation shall be entitled to rely on representations made to it by
the Holder in any Notice of Conversion regarding beneficial ownership of shares of Common Stock. Upon the written request of a Holder, the Corporation shall, within three (3) Trading Days thereof, confirm in writing to such Holder (which may be
via email) the number of shares of Common Stock then outstanding. 
 (d) Nasdaq Conversion Limits; Solicitation of Stockholder
Approval. Notwithstanding Section 6(a) and Section 6(c), the Corporation shall not be required to issue any shares of Common Stock to a given Holder upon conversion by such Holder (or its
assigns) of any shares of Series X Preferred Stock to the extent (and only to the extent) that such conversion would result in a given Holder (including its
predecessors-in-interest) beneficially owning a number of shares of Common Stock in excess of the amount that has been approved by the Corporation’s stockholders in
accordance with the stockholder approval requirements of Nasdaq Marketplace Rule 5635 (a “Blocked Conversion”). The Corporation shall solicit the approval required under Nasdaq Marketplace Rule 5635 of its stockholders
for the issuance of the full amount of shares of Common Stock otherwise issuable upon the conversion of all shares of Series X Preferred Stock authorized and designated under this Certificate of Designation and without regard to the Blocked
Conversion (the “Requisite Approval”) at its first annual meeting of stockholders after the Issuance Date and at each annual meeting of the Corporation’s stockholders thereafter to the extent the Requisite Approval has
not then been obtained. 

 (e) Mechanics of Conversion 

(i) Delivery of Certificate or Electronic Issuance Upon Conversion. Not later than two (2) Trading Days after the applicable
Conversion Date, or if the Holder requests the issuance of physical certificate(s), as soon as reasonably practicable after receipt by the Corporation of the original certificate(s) representing such shares of Series X Preferred Stock being
converted, duly endorsed, and the accompanying Notice of Conversion (the “Share Delivery Date”), the Corporation shall (a) electronically transfer such Conversion Shares by crediting the DTC participant account nominated
by the Holder through DTC’s DWAC system, or (b), if physical certificates are requested by the Holder, use commercially reasonable efforts to prepare and deliver, or cause to be delivered, as soon as reasonably practicable to the converting
Holder a physical certificate or certificates representing the number of Conversion Shares being acquired upon the conversion of shares of Series X Preferred Stock. If in the case of any Notice of Conversion such certificate or certificates are
not delivered to or as directed by or, in the case of a DWAC Delivery, such shares are not electronically delivered to or as directed by, the applicable Holder by the Share Delivery Date, the applicable Holder shall be entitled to elect to rescind
such Conversion Notice by written notice to the Corporation at any time on or before its receipt of such certificate or certificates for Conversion Shares or electronic receipt of such shares, as applicable, in which event the Corporation shall
promptly return to such Holder any original Series X Preferred Stock certificate delivered to the Corporation and such Holder shall promptly return to the Corporation any Common Stock certificates or otherwise direct the return of any shares of
Common Stock delivered to the Holder through the DWAC system, representing the shares of Series X Preferred Stock unsuccessfully tendered for conversion to the Corporation. 

(ii) Obligation Absolute. Subject to Section 6(c) and Section 6(d) and subject to
Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i), the Corporation’s obligation to issue and deliver the Conversion Shares upon conversion of Series X Preferred Stock in accordance with the
terms of this Certificate of Designation are absolute and unconditional, irrespective of any action or inaction by a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any
Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by such Holder or any other Person of any obligation to the Corporation or any violation or alleged
violation of law by such Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Corporation to such Holder in connection with the issuance of such Conversion Shares. Subject to
Section 6(c) and Section 6(d) and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i), in the event a Holder shall elect to convert
any or all of its Series X Preferred Stock, the Corporation may not refuse conversion based on any claim that such Holder or anyone associated or affiliated with such Holder has been engaged in any violation of law, agreement or for any other
reason, unless an injunction from a court, on notice to Holder, restraining and/or enjoining conversion of all or part of the Series X Preferred Stock of such Holder shall have been sought and obtained by the Corporation. In the absence of such
injunction, the Corporation shall, subject to Section 6(c) and Section 6(d) and subject to Holder’s right to rescind a Conversion Notice pursuant to Section 6(e)(i),
issue Conversion Shares upon a properly noticed conversion. Nothing herein shall limit a Holder’s right to pursue actual damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein and such Holder
shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief; provided, that Holder shall not receive duplicate damages for
the Corporation’s failure to deliver Conversion Shares within the period specified herein. The exercise of any such rights shall not prohibit a Holder from seeking to enforce damages pursuant to this Certificate of Designation or under
applicable law.

 (iii) Reservation of Shares Issuable Upon Conversion. The Corporation covenants that
it will at all times reserve and keep available out of its authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Series X Preferred Stock, free from preemptive rights or any other actual contingent
purchase rights of Persons other than the Holders of the Series X Preferred Stock, not less than such aggregate number of shares of the Common Stock as shall be issuable (taking into account the adjustments of Section 7)
upon the conversion of all outstanding shares of Series X Preferred Stock. The Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued, fully paid and non-assessable. 
 (iv) Fractional Shares. No fractional shares or scrip representing fractional
shares of Common Stock shall be issued upon the conversion of the Series X Preferred Stock. As to any fraction of a share which a Holder would otherwise be entitled to receive upon such conversion, the Corporation shall pay a cash adjustment in
respect of such final fraction in an amount equal to such fraction multiplied by the Conversion Price. 
 (v) Transfer Taxes. The
issuance of book-entry notations (or certificates, if requested) for shares of the Common Stock upon conversion of the Series X Preferred Stock shall be made without charge to any Holder for any documentary stamp or similar taxes that may be payable
in respect of the issue or delivery of such book-entry notations (or such certificates, if requested), provided, that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such book-entry notation (or such certificate) upon conversion in a name other than that of the registered Holder(s) of such shares of Series X Preferred Stock and the Corporation shall not be required to issue or deliver such
book-entry notation (or such certificate) unless or until the Person or Persons requesting the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established to the satisfaction of the Corporation that such tax
has been paid. 
 (f) Status as Stockholder. Upon each Conversion Date: (i) the shares of Series X Preferred Stock being
converted shall be deemed converted into shares of Common Stock; and (ii) the Holder’s rights as a holder of such converted shares of Series X Preferred Stock shall cease and terminate, excepting only the right to receive book-entry
notations (or certificates, if requested) for such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure by the Corporation to comply with the terms of this
Certificate of Designation. In all cases, the holder shall retain all of its rights and remedies for the Corporation’s failure to convert Series X Preferred Stock. 

SECTION 7. Certain Adjustments. 

(a) Stock Dividends and Stock Splits. If the Corporation, at any time while any shares of Series X Preferred Stock are outstanding:
(i) pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock with respect to the then outstanding shares of Common Stock; (ii) subdivides outstanding shares of Common Stock into a larger
number of shares; or (iii) combines (including by way of a reverse stock split) outstanding shares of 

 
Common Stock into a smaller number of shares, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any
treasury shares of the Corporation) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event (excluding any treasury shares of the Corporation). Any
adjustment made pursuant to this Section 7(a) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective
immediately after the effective date in the case of a subdivision or combination. 
 (b) Fundamental Transaction. If, at any time
while any shares of Series X Preferred Stock are outstanding, the Corporation effects (i) any merger or consolidation of the Corporation with or into another Person, (ii) any sale of all or substantially all of its and its
subsidiaries’ assets, taken as a whole, (iii) any reclassification of the Common Stock (other than a change to par value, or from par value to no par value or changes resulting from a combination or subdivision) or (iv) any statutory
exchange of the outstanding shares of Common Stock, as a result of which, the holders of the Common Stock would be entitled to receive, or their Common Stock would be converted into, or exchanged for, shares, stock, other securities, or other
property or assets (including cash or any combination thereof) (each, a “Fundamental Transaction”) then, to the extent then permitted under applicable laws, rules and regulations (including the rules of the Nasdaq Stock
Market or any exchange on which the Common Stock is then listed), upon any subsequent conversion of Series X Preferred Stock, the Holders shall have the right to receive, for each share of Common Stock that would have been issuable upon such
conversion immediately prior to the occurrence of such Fundamental Transaction, the same kind and amount of securities, cash, assets or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had
been, immediately prior to such Fundamental Transaction, the Holder of one share of Common Stock. The amount of such securities, cash, assets or property to be received by such Holder shall be determined based upon the Conversion Ratio in effect
immediately prior to the consummation of such Fundamental Transaction. 
 If holders of Common Stock are given any choice as to the
securities, cash, assets or property to be received in a Fundamental Transaction, then each Holder shall be given the same choice as to the consideration it receives upon any conversion of such Holder’s shares of Series X Preferred Stock
following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions should any shares of Series X Preferred Stock remain outstanding after a Fundamental Transaction, any successor to the Corporation or
surviving entity in such Fundamental Transaction shall file a new Certificate of Designation with the same terms and conditions and issue to the Holders new preferred stock consistent with the foregoing provisions and evidencing the Holders’
right to convert such preferred stock into such securities, cash, assets or property. The terms of any agreement to which the Corporation is a party and pursuant to which a Fundamental Transaction is effected shall include terms requiring any
such successor or surviving entity to comply with the provisions of this Section 7(b) and ensuring that the outstanding shares of Series X Preferred Stock (or any such replacement security) will be similarly adjusted upon
any subsequent transaction analogous to a Fundamental Transaction. The Corporation (or any successor) shall, within thirty (30) days of the effective time of any Fundamental Transaction, provide written notice to the Holders of the occurrence
of such event and of the kind and amount of the cash, securities, assets or other property. Failure to deliver such notice shall not affect the operation of this Section 7. 

 (c) Calculations. All calculations under this Section 7
shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be
the number of shares of Common Stock issued and outstanding (excluding any treasury shares of the Corporation). 
 (d) Notice to the
Holders. 
 (i) Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this
Section 7, the Corporation shall promptly deliver to each Holder a notice setting forth the Conversion Ratio after such adjustment and setting forth a brief statement of the facts requiring such adjustment. 

(ii) Other Notices. If (A) the Corporation shall declare a dividend (or any other distribution in whatever form) on the Common
Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe
for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to
which the Corporation is a party, any sale or transfer of all or substantially all of the assets of the Corporation, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the
Corporation shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Corporation, then, in each case, the Corporation shall cause to be filed at each office or agency maintained for the purpose of
conversion of the shares of Series X Preferred Stock, and shall cause to be delivered to each Holder at its last address as it shall appear upon the stock books of the Corporation, at least twenty (20) calendar days prior to the applicable
record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of
which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share
exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided, that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action
required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Corporation or any of its subsidiaries, the
Corporation shall simultaneously file such notice with the Commission on a Current Report on Form 8-K. 

 SECTION 8. Miscellaneous. 

(a) Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without
limitation, any Notice of Conversion, shall be in writing and delivered personally, by facsimile, or sent by a nationally recognized overnight courier service, addressed to the Corporation, at 201 Elliott Avenue West, Suite 230, Seattle, Washington
98119, Facsimile No.: (206) 316-8383 (with a copy emailed to ir@alpineimmunesciences.com, which shall not constitute notice), Attention: Chief Financial Officer, with a copy (which shall not constitute notice)
to: Wilson Sonsini Goodrich & Rosati, Professional Corporation, 701 Fifth Avenue, Suite 5100, Seattle, Washington 98104, Attention: Patrick Schultheis and Michael Nordtvedt, or such other mailing address as the Corporation may specify for
such purposes by notice to the Holders delivered in accordance with this Section 8(a). Any and all notices or other communications or deliveries to be provided by the Corporation hereunder shall be in writing and delivered
personally, by facsimile, email, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email address or mailing address of such Holder appearing on the books of the Corporation, or if no such
facsimile number, email address, or mailing address appears on the books of the Corporation, at the principal place of business of such Holder. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the
earliest of: (i) the date of transmission, if such notice or communication is delivered via facsimile or email prior to 5:30 p.m. (New York City time) on any date, (ii) the date immediately following the date of transmission, if such
notice or communication is delivered via facsimile or email between 5:30 p.m. and 11:59 p.m. (New York City time) on any date, (iii) the second Business Day following the date of mailing, if sent by nationally recognized overnight courier
service, or (iv) upon actual receipt by the party to whom such notice is required to be given. 
 (b) Lost or Mutilated Series X
Preferred Stock Certificate. If a Holder’s Series X Preferred Stock certificate, if applicable, shall be mutilated, lost, stolen or destroyed, the Corporation shall execute and deliver, if requested by the Holder, in exchange and
substitution for and upon cancellation of a mutilated certificate, or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of Series X Preferred Stock so mutilated, lost, stolen or destroyed,
but only upon receipt of evidence of such loss, theft or destruction of such certificate, and of the ownership thereof, reasonably satisfactory to the Corporation and, in each case, customary and reasonable indemnity, if requested. Applicants for a
new certificate under such circumstances shall also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Corporation may prescribe.

(c) Waiver. Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate
as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate of Designation or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict
adherence to any term of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or any other Holder) of the right thereafter to insist upon strict adherence to that term or any other term of
this Certificate of Designation. Any waiver by the Corporation or a Holder must be in writing. Notwithstanding any provision in this Certificate of Designation to the contrary, any provision contained herein and any right of the Holders of Series X
Preferred Stock granted hereunder may be waived as to all shares of Series X Preferred Stock (and the Holders thereof) upon the written consent of the Holders of a majority of the shares of Series X Preferred Stock then outstanding, unless a higher
percentage is required by the DGCL, in which case the written consent of the Holders of not less than such higher percentage shall be required. 

 (d) Severability. If any provision of this Certificate of Designation is
invalid, illegal or unenforceable, the balance of this Certificate of Designation shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and
circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate
of interest permitted under applicable law. 
 (e) Next Business Day. Whenever any payment or other obligation hereunder shall be due
on a day other than a Business Day, such payment shall be made on the next succeeding Business Day. 
 (f) Headings. The headings
contained herein are for convenience only, do not constitute a part of this Certificate of Designation and shall not be deemed to limit or affect any of the provisions hereof. 

(g) Status of Converted Series X Preferred Stock. If any shares of Series X Preferred Stock shall be converted by the Corporation, such
shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series X Preferred Stock. 

(h) Redemption by the Corporation. The Series X Preferred Stock shall not be redeemable by the Corporation.

(i) Transfer Agent, Registrar and Conversion Agent. The duly appointed transfer agent, registrar, conversion and dividend
paying agent for shares of Series X Preferred Stock shall be American Stock Transfer & Trust Company, LLC (the “Transfer Agent”). The Corporation may, in its sole discretion, remove the Transfer Agent in
accordance with the agreement between the Corporation and the Transfer Agent; provided, that the Corporation shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal.

(j) Form. To the extent issued in certificated form, the Series X Preferred Stock shall be issued in the form of one or more
definitive shares in fully registered form in substantially the form attached hereto as Exhibit A (each, a “Series X Preferred Stock Certificate”), which is hereby incorporated in and expressly made a part of this
Certificate of Designation. Each Series X Preferred Stock Certificate shall reflect the number of shares of Series X Preferred Stock represented thereby, and may have notations, legends or endorsements required by law, stock exchange rules,
agreements to which the Corporation is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Corporation). Each Series X Preferred Stock Certificate shall be registered in the name or
names of the Person or Persons specified by the depositary in a written instrument to the registrar. 
 The Chairman of the Board, Chief
Executive Officer, President or Chief Financial Officer and either the Treasurer or the Secretary of the Corporation shall sign each Series X Preferred Stock Certificate for the Corporation, in accordance with the Corporation’s bylaws and
applicable law, by manual or facsimile signature. If an officer whose signature is on a Series X Preferred Stock Certificate no longer holds that office at the time the Transfer Agent countersigned the Series X Preferred Stock Certificate, the
Series X Preferred Stock Certificate shall be valid nevertheless. 

 
A Series X Preferred Stock Certificate shall not be valid until an authorized signatory of the Transfer Agent manually countersigns Series X Preferred Stock Certificate. Each Series X Preferred
Stock Certificate shall be dated the date of its countersignature. 
 ******************** 

 IN WITNESS WHEREOF, Alpine Immune Science, Inc. has caused this
Certificate of Designation of Preferences, Rights and Limitations of Series X Convertible Preferred Stock to be executed by its duly authorized officer this          day of January, 2019. 

 

	
	  
 [Name]

[Title]

 ANNEX A 

NOTICE OF CONVERSION 
 (TO BE
EXECUTED BY THE REGISTERED HOLDER 
 IN ORDER TO CONVERT SHARES OF SERIES X PREFERRED STOCK) 

The undersigned Holder hereby irrevocably elects to convert the number of shares of Series X Preferred Stock indicated below, represented by
stock certificate No(s).          or book entry notation (the “Preferred Stock Certificates”), into shares of common stock, par value $0.001 per share (the “Common
Stock”), of Alpine Immune Science, Inc., a Delaware corporation (the “Corporation”), as of the date written below. If securities are to be issued in the name of a person other than the undersigned, the
undersigned will pay all transfer taxes payable with respect thereto. Capitalized terms utilized but not defined herein shall have the meaning ascribed to such terms in that certain Certificate of Designation of Preferences, Rights and Limitations
of Series X Convertible Preferred Stock (the “Certificate of Designation”) filed by the Corporation with the Delaware Secretary of State on January         , 2019. 

The Holder and its Attribution Parties (as defined in the Certificate of Designation) together beneficially own an aggregate of
         shares of Common Stock, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the applicable regulations of the Securities and
Exchange Commission. 
 Conversion calculations: 
  

	
	
Date to Effect Conversion:                
                                         
                                         
                                         
                                         
                     

	
	 Number of shares of Series X Preferred Stock owned prior to
Conversion:                                       
                                         
                                         
    

	
	
Number of shares of Series X Preferred Stock to be Converted:    
                                         
                                         
                                         
                

	
	 Number of shares of Common Stock to be
Issued:                                        
                                         
                                         
                                         
 

	
	
Address for delivery of physical certificates:           
                                         
                                         
                                         
                                       

	
	
Or for DWAC Delivery:                
                                         
                                         
                                         
                                         
                         

	
	 DWAC Instructions:
                                         
                                         
                                         
                                         
                                         
     

			
	 Broker no:
	  	          

		
	 Account no:
	  	          

  

					
	 HOLDER

		
	 By: 
	 	 

		 	 Name:
	 	          

		 	 Title:
	 	          

		 	 Date:
	 	          

 EXHIBIT A 

FORM OF SERIES X CONVERTIBLE PREFERRED STOCK CERTIFICATE 

 

 
 PX-U SEE REVERSE SIDE FOR RESTRICTIVE LEGEND(S) ALPINE IMMUNE SCIENCES, INC. IN CORPORA TED
UNDER THE LAWS OF THE STATE OF DELAWARE SERIES X CONVERTIBLE PREFERRED STOCK CERTIFICATE *(_)* Shares Series X Preferred Stock THIS CERTIFIES THAT *[]* is the record holder of *[]* shares of Series X Convertible Preferred Stock of Alpine Immune
Sciences, Inc., hereinafter designated the “Corporation,” par value $0.001 per share, transferable only on the share register of said Corporation, in person or by duly authorized attorney, upon surrender of this certificate properly
endorsed or assigned. This Certificate and the shares represented hereby are issued and shall be held subject to all the provisions of the Certificate of Incorporation and the Bylaws of the Corporation and any amendments thereof, copies of which are
on file at the office of the Corporation, and made a part hereof as fully as though the provisions of said Certificate of Incorporation and Bylaws were imprinted in full on this Certificate, to all of which the holder of this Certificate, by
acceptance hereof, assents and agrees to be bound. The shares represented by this Certificate are subject to the legend(s) affixed to the back of this Certificate. The shares represented by this Certificate are convertible into shares of the
Corporation’s Common Stock at the election of the holder and upon the occurrence of certain events as set forth in the Certificate of lncorporation of the Corporation. . A statement of all the rights, preferences, privileges; and restrictions
granted to or imposed upon the respective classes or series of shares of stock of the Corporation and upon the holders thereof may be obtained by any stockholder, upon request, at the principal office of the Corporation, and the Corporation will
furnish any stockholder, upon request and without charge, a copy of such statement. IN WITNESS WHEREOF, this Corporation’s duly authorized officers have signed this Certificate as of ___________, 2019. David D. Miller, Secretary Mitchell H.
Gold, Chief Executive Officer LITHO IN U.S.A 

 

 
 FOR VALUE RECE£VED, HEREBY SELL, ASSIGN AND TRANSFER ____ SHARES REPRESENTED BY TIDS
CERTIFICATE TO ______________ AND HEREBY IRREVOCABLY APPOINT AS ATTORNEY TO TRANSFER THESE SHARES ON THE SHARE REGISTER OF THE CORPORATION. DATED ____________________ ___ (Stockholder) (Witness) (Stockholder) NOTICE: THE SIGNATURE ON THIS ASSIGNMENT
MUST CORRESPOND EXACTLY WITH THE NAME AS WRITTEN ON THE FACE OF THIS CERTIFICATE. THE OFFER AND SALE OF THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACr’), OR ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF (I) IN THE ABSENCE OF (A) AN. EFFECTIVE REGISTRATION STATEMENT FOR
THE SECURITIES UNDER TIIE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY
LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN
CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES; PROVIDED THAT IN CONNECTION WITH ANY FORECLOSURE OR TRANSFER OF THE SECURITIES, THE TRANSFEROR SHALL COMPLY WITH THE PROVISIONS HEREIN, IN
THE SECURITIES PURCHASE AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT, AND UPON FORECLOSURE OR TRANSFER OF THE SECURITIES, SUCH FORECLOSING PERSON OR TRANSFEREE SHALL COMPLY WITH ALL PROVISIONS CONTAINED HEREIN, IN THE SECURITIES PURCHASE
AGREEMENT AND THE REGISTRATION RIGHTS AGREEMENT.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]