ALMS · Alumis Inc. · Insider Trading

The sales and purchases on September 8, 2026 were matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 48,066 shares in the case of Samsara LP and 48,065 shares in the case of Samsara Opportunity Fund, resulting in short-swing profit liability under Section 16(b). The Reporting Person has agreed to disgorge to the Issuer the short-swing profit realized in connection with these transactions, less transaction costs.

The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.26 to $10.835, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara Opportunity Fund, L.P. ("Samsara Opportunity Fund"). Samsara Opportunity Fund GP, LLC is the general partner of Samsara Opportunity Fund and may be deemed to beneficially own the securities held by Samsara Opportunity Fund. The Reporting Person has voting and investment power over the shares held by Samsara Opportunity Fund and, accordingly, may be deemed to beneficially own the shares held by Samsara Opportunity Fund. The Reporting Person disclaims beneficial ownership in these securities except to the extent of his pecuniary interest therein.

The sales and purchases on September 8, 2026 were matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 48,066 shares in the case of Samsara LP and 48,065 shares in the case of Samsara Opportunity Fund, resulting in short-swing profit liability under Section 16(b). The Reporting Person has agreed to disgorge to the Issuer the short-swing profit realized in connection with these transactions, less transaction costs.

The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $10.26 to $10.835, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara BioCapital LP. ("Samsara LP"). The Reporting Person is a managing member of Samsara BioCapital GP, LLC, the general partner of Samsara LP. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

The sales and purchases on September 8, 2026 were matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 48,066 shares in the case of Samsara LP and 48,065 shares in the case of Samsara Opportunity Fund, resulting in short-swing profit liability under Section 16(b). The Reporting Person has agreed to disgorge to the Issuer the short-swing profit realized in connection with these transactions, less transaction costs.

The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $10.38 to $10.91, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara BioCapital LP. ("Samsara LP"). The Reporting Person is a managing member of Samsara BioCapital GP, LLC, the general partner of Samsara LP. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

The sales and purchases on September 8, 2026 were matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 48,066 shares in the case of Samsara LP and 48,065 shares in the case of Samsara Opportunity Fund, resulting in short-swing profit liability under Section 16(b). The Reporting Person has agreed to disgorge to the Issuer the short-swing profit realized in connection with these transactions, less transaction costs.

The price reported in Column 4 is a weighted average price. These securities were sold in multiple transactions at prices ranging from $10.38 to $10.91, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara Opportunity Fund, L.P. ("Samsara Opportunity Fund"). Samsara Opportunity Fund GP, LLC is the general partner of Samsara Opportunity Fund and may be deemed to beneficially own the securities held by Samsara Opportunity Fund. The Reporting Person has voting and investment power over the shares held by Samsara Opportunity Fund and, accordingly, may be deemed to beneficially own the shares held by Samsara Opportunity Fund. The Reporting Person disclaims beneficial ownership in these securities except to the extent of his pecuniary interest therein.

The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $11.02 to $11.60, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara BioCapital LP. ("Samsara LP"). The Reporting Person is a managing member of Samsara BioCapital GP, LLC, the general partner of Samsara LP. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

The price reported in Column 4 is a weighted average price. These securities were purchased in multiple transactions at prices ranging from $11.02 to $11.60, inclusive. The Reporting Person undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price within the range set forth in this footnote.

Shares are directly held by Samsara Opportunity Fund, L.P. ("Samsara Opportunity Fund"). Samsara Opportunity Fund GP, LLC is the general partner of Samsara Opportunity Fund and may be deemed to beneficially own the securities held by Samsara Opportunity Fund. The Reporting Person has voting and investment power over the shares held by Samsara Opportunity Fund and, accordingly, may be deemed to beneficially own the shares held by Samsara Opportunity Fund. The Reporting Person disclaims beneficial ownership in these securities except to the extent of his pecuniary interest therein.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.61 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Includes 2,177 shares acquired on May 20, 2026 under the Issuer's 2024 Employee Stock Purchase Plan.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.62 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.54 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.56 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.60 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Includes 2,377 shares acquired on May 20, 2026 under the Issuer's 2024 Employee Stock Purchase Plan.

The sale reported on this Form 4 was effected pursuant to the Issuer's policy requiring sell-to-cover to satisfy tax obligations of the Reporting Person incurred with the vesting and settlement of restricted stock units granted on July 29, 2025, and does not represent a discretionary sale by the Reporting Person.

The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $25.62 to $26.42 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Includes 1,037 shares acquired on November 20, 2025 and 3,000 shares acquired on May 20, 2026 under the Issuer's 2024 Employee Stock Purchase Plan.

25% of the shares underlying this option vested on February 18, 2026, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

Represents shares of common stock issuable upon settlement of a restricted stock unit ("RSU") grant. The shares underlying this RSU vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

Represents shares of common stock issuable upon settlement of a restricted stock unit ("RSU") grant. The shares underlying this RSU vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

Represents shares of common stock issuable upon settlement of a restricted stock unit ("RSU") grant. The shares underlying this RSU vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

Represents shares of common stock issuable upon settlement of a restricted stock unit ("RSU") grant. The shares underlying this RSU vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

The shares underlying this option vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

The shares underlying this option vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

The shares underlying this option vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

The shares underlying this option vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

The shares underlying this option vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

Represents shares of common stock issuable upon settlement of a restricted stock unit ("RSU") grant. The shares underlying this RSU vest on the first anniversary of the date of grant, provided that the shares will in any case be fully vested on the date of the Issuer's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan), subject to the Reporting Person's Continuous Service (as defined in the Plan) through such date.

25% of the shares underlying this option vested on February 18, 2026, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's continuous service to the Issuer on each such vesting date.

Includes 1,037 shares acquired on November 20, 2025 and 3,000 shares acquired on May 20, 2026 under the Issuer's 2024 Employee Stock Purchase Plan.

25% of the shares underlying this option vested on August 22, 2023, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's continuous service to the Issuer on each such vesting date.

Represents shares received by Labs pursuant to pro rata distributions by Labs Affiliates, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares. Tananbaum disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs, except to the extent of his pecuniary interest in such securities.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Labs to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares.

Represents shares received by Labs pursuant to pro rata distributions by Labs Affiliates, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs, except to the extent of such person's pecuniary interest in such securities.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Foresite Labs Affiliates 2021, LLC ("Labs Affiliates") to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The shares are held of record by Labs Affiliates. Foresite Labs, LLC ("Labs") is the managing member of Labs Affiliates and may be deemed to have sole voting and dispositive power over such shares. James B. Tananbaum ("Tananbaum"), a manager of Labs, may be deemed to share voting and dispositive power over such shares. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs Affiliates, except to the extent of such person's pecuniary interest in such securities.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Foresite Labs Affiliates 2021, LLC ("Labs Affiliates") to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The shares are held of record by Labs Affiliates. Foresite Labs, LLC ("Labs") is the managing member of Labs Affiliates and may be deemed to have sole voting and dispositive power over such shares. James B. Tananbaum ("Tananbaum"), a manager of Labs, may be deemed to share voting and dispositive power over such shares. Tananbaum disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs Affiliates, except to the extent of his pecuniary interest in such securities.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Labs to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs, except to the extent of such person's pecuniary interest in such securities.

Represents shares received by TFL Investment Holdings, LLC ("TFL") pursuant to pro rata distributions by Labs, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by TFL. Tananbaum is the manager of TFL, and James B. Tananbaum and Dana Shonfeld Tananbaum Family Trust, of which Tananbaum is a trustee, is the sole member of TFL.

Represents shares received by Labs pursuant to pro rata distributions by Labs Affiliates, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Foresite Labs Affiliates 2021, LLC ("Labs Affiliates") to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The shares are held of record by Labs Affiliates. Foresite Labs, LLC ("Labs") is the managing member of Labs Affiliates and may be deemed to have sole voting and dispositive power over such shares. James B. Tananbaum ("Tananbaum"), a manager of Labs, may be deemed to share voting and dispositive power over such shares.

Represents shares received by TFL Investment Holdings, LLC ("TFL"). pursuant to pro rata distributions by Labs, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by TFL. Tananbaum is the manager of TFL, and James B. Tananbaum and Dana Shonfeld Tananbaum Family Trust, of which Tananbaum is a trustee, is the sole member of TFL. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Represents shares received by TFL Investment Holdings, LLC ("TFL"). pursuant to pro rata distributions by Labs, for no consideration, to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by TFL. Tananbaum is the manager of TFL, and James B. Tananbaum and Dana Shonfeld Tananbaum Family Trust, of which Tananbaum is a trustee, is the sole member of TFL. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that any such person is the beneficial owner of such securities, except to the extent of such person's pecuniary interest therein, if any.

Represents a pro rata, in-kind distribution, and not a purchase or sale, without additional consideration by Labs to its members in accordance with the exemptions afforded by Rules 16a-13 and/or 16a-9 of the Exchange Act.

The shares are held of record by Labs. Tananbaum, a manager of Labs, may be deemed to share voting and dispositive power over such shares. Tananbaum disclaims the existence of a "group", as defined in Rule 13d-5 of the Exchange Act, and disclaims beneficial ownership of the shares held by Labs, except to the extent of his pecuniary interest in such securities.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

25% of the shares underlying this option vest on January 26, 2027, and the remaining shares vest in equal monthly installments thereafter over the following 36 months, subject to acceleration and the Reporting Person's Continuous Service (as defined in the Issuer's 2024 Equity Incentive Plan) to the Issuer on each such vesting date.

Shares are directly held by Samsara Opportunity Fund, L.P. ("Samsara Opportunity Fund"). Samsara Opportunity Fund GP, LLC is the general partner of Samsara Opportunity Fund and may be deemed to beneficially own the securities held by Samsara Opportunity Fund. The Reporting Person has voting and investment power over the shares held by Samsara Opportunity Fund and, accordingly, may be deemed to beneficially own the shares held by Samsara Opportunity Fund. The Reporting Person disclaims beneficial ownership in these securities except to the extent of his pecuniary interest therein.

The shares are held of record by Foresite Capital Opportunity Fund V, L.P. ("Opportunity Fund V"). Foresite Capital Opportunity Management V, LLC ("FCOM V") is the general partner of Opportunity Fund V and may be deemed to have sole voting and dispositive power over such shares. Tananbaum, the managing member of FCOM V, may be deemed to have sole voting and dispositive power over such shares. Each of the Reporting Persons disclaims the existence of a "group", as defined in Rule 13d-5 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, other than Opportunity Fund V, disclaims beneficial ownership of the shares held by Opportunity Fund V, except to the extent of such person's pecuniary interest in such securities.