ELTX · Elicio Therapeutics, Inc. · Debt

6 5.1(c)(x) hereof, which warrants shall be exercisable immediately upon issuance and have a term of exercise equal to five (5) years, in the form of Exhibit B attached hereto. 1.2 Other Definitional Provisions. (a) Use of Defined Terms. Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Documents or any certificate or other document made or delivered pursuant hereto or thereto. (b) Construction. The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. (c) UCC Terms. Terms used in this Agreement that are defined in the UCC shall, unless the context indicates otherwise or are otherwise defined in this Agreement, have the meanings provided for by the UCC. ARTICLE II PURCHASE AND SALE OF THE NOTE 2.1 Closing. The Closing shall occur on the Closing Date on the first (1st) Business Day on which the conditions to the Closing set forth in Article V hereof are satisfied or waived in writing as provided elsewhere herein, or on such other date and time as agreed to by the Company and the Holder. 2.2 Conditions to Purchase of the Note. Subject to the terms and conditions of this Agreement, the Holder will at the Closing, on the Closing Date, purchase from the Company the Note in the amount and for the Purchase Price. 2.3 Purchase Price and Payment of the Purchase Price for the Note. The Purchase Price for the Note at the Closing shall be Ten Million Dollars ($10,000,000) and shall be paid at the Closing by the Holder by wire transfer of immediately available funds to the Company in accordance with the Company’s written wiring instructions, against delivery of the Note. ARTICLE III REPRESENTATIONS AND WARRANTIES; OTHER ITEMS 3.1 Representation and Warranties of the Company. Except with respect to the transactions contemplated by this Agreement and the Documents, as set forth in the SEC Reports, the Company represents and warrants to the Holder that as of the Closing Date (unless as of a specific date therein): (a) Subsidiaries. All of the direct and indirect Subsidiaries of the Company required to be disclosed are set forth in the SEC Reports. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, other

Issuer evidence: Execution Version NOTE PURCHASE AGREEMENT THIS NOTE PURCHASE AGREEMENT (the “Agreement”) is made as of June 3, 2025, by and among Elicio Therapeutics, Inc., a Delaware corporation (the “Company”), and GKCC, LLC, a Delaware limited liability company (the “Holder”). RECITALS The Company and the Holder are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act (as defined below). The Holder wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, the Note (as defined below). 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 Holder hereby agrees as follows: ARTICLE I DEFINITIONS 1.1 Defined Terms. In addition to terms defined elsewhere in this Agreement or in any Supplement, Amendment or Exhibit hereto, when used herein, the following terms shall have the following meanings: (a) “Affiliate” means any Person which, directly or indirectly, owns or controls, on an aggregate basis, a ten percent (10%) or greater interest in any other Person, or which is controlled by or is under common control with any other Person. (b) “Business Day” means any day other than a Saturday or Sunday or any other day on which the Federal Reserve Bank of New York is not open for business. (c) “Closing” means the time of issuance and sale by the Company of the Note to the Holder. (d) “Closing Date” means the date the Note is purchased by the Holder from the Company. (e) “Collateral” has the meaning set forth in the Security Agreement. (f) “Collateral Date” has the meaning set forth in the Security Agreement. (g) “Commitment Fee” means a fully earned, non-refundable commitment fee equal to fifty basis points (0.50%) of the Purchase Price, with such fee to be paid on the Closing Date.

Supporting evidence: 6 5.1(c)(x) hereof, which warrants shall be exercisable immediately upon issuance and have a term of exercise equal to five (5) years, in the form of Exhibit B attached hereto. 1.2 Other Definitional Provisions. (a) Use of Defined Terms. Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Documents or any certificate or other document made or delivered pursuant hereto or thereto. (b) Construction. The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. (c) UCC Terms. Terms used in this Agreement that are defined in the UCC shall, unless the context indicates otherwise or are otherwise defined in this Agreement, have the meanings provided for by the UCC. ARTICLE II PURCHASE AND SALE OF THE NOTE 2.1 Closing. The Closing shall occur on the Closing Date on the first (1st) Business Day on which the conditions to the Closing set forth in Article V hereof are satisfied or waived in writing as provided elsewhere herein, or on such other date and time as agreed to by the Company and the Holder. 2.2 Conditions to Purchase of the Note. Subject to the terms and conditions of this Agreement, the Holder will at the Closing, on the Closing Date, purchase from the Company the Note in the amount and for the Purchase Price. 2.3 Purchase Price and Payment of the Purchase Price for the Note. The Purchase Price for the Note at the Closing shall be Ten Million Dollars ($10,000,000) and shall be paid at the Closing by the Holder by wire transfer of immediately available funds to the Company in accordance with the Company’s written wiring instructions, against delivery of the Note. ARTICLE III REPRESENTATIONS AND WARRANTIES; OTHER ITEMS 3.1 Representation and Warranties of the Company. Except with respect to the transactions contemplated by this Agreement and the Documents, as set forth in the SEC Reports, the Company represents and warrants to the Holder that as of the Closing Date (unless as of a specific date therein): (a) Subsidiaries. All of the direct and indirect Subsidiaries of the Company required to be disclosed are set forth in the SEC Reports. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, other

Supporting evidence: 3 of letters of credit, bankers’ acceptances and similar obligations, (h) all guarantee obligations of such Person in respect of obligations of the kind referred to in clauses (a) through (g) above, (i) all obligations of the kind referred to in clauses (a) through (g) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including, without limitation, accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation, in each case, if and to the extent that any of the foregoing Indebtedness would appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with generally accepted accounting principles; provided that, if such Person has not assumed or become liable for the payment of such obligation, the amount of such Indebtedness shall be limited to the lesser of (A) the principal amount of the obligation being secured and (B) the fair market value of the encumbered property; and (j) all Contingent Obligations in respect to indebtedness or obligations of any Person of the kind referred to in clauses (a)-(i) above. (q) “IP Security Agreement” means the Intellectual Property Security Agreement, dated as of the date hereof, as hereinafter amended and/or supplemented, together with all exhibits, schedules and annexes to such IP Security Agreement. (r) “Liabilities” means all direct or indirect liabilities and obligations of any kind of the Company to the Holder pursuant to the Note, this Agreement and/or any of the other Documents. (s) “Liens” or “liens” means a lien, mortgage, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction. (t) “Material Adverse Effect” means a material adverse effect on (a) the business, assets, property, prospects, operations or condition (financial or otherwise) of the Company and all of its Subsidiaries, taken as a whole, (b) the validity or enforceability of this Agreement or any of the other Documents or (c) the rights or remedies of the Holder hereunder or thereunder. (u) “Note” means the Senior Secured Promissory Note in the form annexed hereto as Exhibit A and any and all Note(s) issued in exchange, transfer or replacement of the Notes. (v) “OFAC” means the United States Department of the Treasury’s Office of Foreign Assets Control. (w) “OFAC Regulations” means the regulations promulgated by OFAC, as amended from time to time. (x) “Permitted Indebtedness” means (i) Indebtedness of the Company evidenced by the Note, this Agreement and/or any other Document in favor of the Holder including all Liabilities, (ii) Indebtedness of the Company and its Subsidiaries set forth in the Company’s most recent SEC Reports, provided none of such Indebtedness, has been increased, extended and/or otherwise changed since the date of the most recent SEC Reports (other than Refinancing Indebtedness), (iii) Indebtedness that is subordinated to and not equal to or senior to the Note, (iv) trade Indebtedness incurred in the ordinary course of business, (v) Indebtedness secured by

Execution Version SUBSIDIARY GUARANTEE This SUBSIDIARY GUARANTEE, dated as of June 3, 2025 (this “Guarantee”), is made by each of the signatories hereto (together with any other entity that may become a party hereto as provided herein, the “Guarantors”), in favor of the holder (together with its permitted assigns, the “Holder”) of the Senior Secured Promissory Note in the principal amount of Ten Million Dollars ($10,000,000) (the “Note”) of Elicio Therapeutics, Inc., a Delaware corporation (the “Company”). W I T N E S S E T H: WHEREAS, pursuant to that certain Note Purchase Agreement, dated as of the date hereof, by and between the Company and the Holder (the “Purchase Agreement”), the Company has agreed to sell and issue to the Holder, and the Holder has agreed to purchase from the Company the Note, subject to the terms and conditions set forth therein. NOW, THEREFORE, in consideration of the premises and to induce the Holder to enter into the Purchase Agreement and to carry out the transactions contemplated thereby, each Guarantor hereby agrees with the Holder as follows: 1. Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall have the following meanings: “Event of Default” shall have the meaning ascribed to such term in the Note. “Guarantee” means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time. “Material Adverse Effect” shall have the meaning ascribed to such term in Section 3(a). “Purchase Agreement” shall have the meaning ascribed to such term in the Preamble. “Obligations” means, in addition to all other costs and expenses of collection incurred by the Holder in enforcing any of such Obligations and/or this Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing to, of the Company or any Guarantor to the Holder, including, without limitation, all obligations under this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Holder as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal of, interest, and any other amounts owed on the Note as set forth in the Note; (ii) any and all obligations due under the Documents; (iii) any and all other fees, indemnities, costs, obligations and liabilities of the Company or any Guarantor from time to time under or in connection with this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith; (iv) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Company or any Guarantor; and (v) all foreign assets of the Company or any Guarantor. 2. Guarantee.

Issuer evidence: Execution Version SUBSIDIARY GUARANTEE This SUBSIDIARY GUARANTEE, dated as of June 3, 2025 (this “Guarantee”), is made by each of the signatories hereto (together with any other entity that may become a party hereto as provided herein, the “Guarantors”), in favor of the holder (together with its permitted assigns, the “Holder”) of the Senior Secured Promissory Note in the principal amount of Ten Million Dollars ($10,000,000) (the “Note”) of Elicio Therapeutics, Inc., a Delaware corporation (the “Company”). W I T N E S S E T H: WHEREAS, pursuant to that certain Note Purchase Agreement, dated as of the date hereof, by and between the Company and the Holder (the “Purchase Agreement”), the Company has agreed to sell and issue to the Holder, and the Holder has agreed to purchase from the Company the Note, subject to the terms and conditions set forth therein. NOW, THEREFORE, in consideration of the premises and to induce the Holder to enter into the Purchase Agreement and to carry out the transactions contemplated thereby, each Guarantor hereby agrees with the Holder as follows: 1. Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall have the following meanings: “Event of Default” shall have the meaning ascribed to such term in the Note. “Guarantee” means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time. “Material Adverse Effect” shall have the meaning ascribed to such term in Section 3(a). “Purchase Agreement” shall have the meaning ascribed to such term in the Preamble. “Obligations” means, in addition to all other costs and expenses of collection incurred by the Holder in enforcing any of such Obligations and/or this Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing to, of the Company or any Guarantor to the Holder, including, without limitation, all obligations under this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Holder as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal of, interest, and any other amounts owed on the Note as set forth in the Note; (ii) any and all obligations due under the Documents; (iii) any and all other fees, indemnities, costs, obligations and liabilities of the Company or any Guarantor from time to time under or in connection with this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith; (iv) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Company or any Guarantor; and (v) all foreign assets of the Company or any Guarantor. 2. Guarantee.

Supporting evidence: Execution Version SUBSIDIARY GUARANTEE This SUBSIDIARY GUARANTEE, dated as of June 3, 2025 (this “Guarantee”), is made by each of the signatories hereto (together with any other entity that may become a party hereto as provided herein, the “Guarantors”), in favor of the holder (together with its permitted assigns, the “Holder”) of the Senior Secured Promissory Note in the principal amount of Ten Million Dollars ($10,000,000) (the “Note”) of Elicio Therapeutics, Inc., a Delaware corporation (the “Company”). W I T N E S S E T H: WHEREAS, pursuant to that certain Note Purchase Agreement, dated as of the date hereof, by and between the Company and the Holder (the “Purchase Agreement”), the Company has agreed to sell and issue to the Holder, and the Holder has agreed to purchase from the Company the Note, subject to the terms and conditions set forth therein. NOW, THEREFORE, in consideration of the premises and to induce the Holder to enter into the Purchase Agreement and to carry out the transactions contemplated thereby, each Guarantor hereby agrees with the Holder as follows: 1. Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall have the following meanings: “Event of Default” shall have the meaning ascribed to such term in the Note. “Guarantee” means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time. “Material Adverse Effect” shall have the meaning ascribed to such term in Section 3(a). “Purchase Agreement” shall have the meaning ascribed to such term in the Preamble. “Obligations” means, in addition to all other costs and expenses of collection incurred by the Holder in enforcing any of such Obligations and/or this Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing to, of the Company or any Guarantor to the Holder, including, without limitation, all obligations under this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Holder as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal of, interest, and any other amounts owed on the Note as set forth in the Note; (ii) any and all obligations due under the Documents; (iii) any and all other fees, indemnities, costs, obligations and liabilities of the Company or any Guarantor from time to time under or in connection with this Guarantee, the Note, the Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith; (iv) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Company or any Guarantor; and (v) all foreign assets of the Company or any Guarantor. 2. Guarantee.