HUMA · Humacyte, Inc.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

The first 25% of the option becomes exercisable on June 11, 2027, after which 1/48 of the option will become exercisable on the 11th of each month through June 11, 2030.

Represents the number of shares of Common Stock sold under an automated program to cover the statutory tax withholding obligations in connection with the vesting of restricted stock units previously granted to the Reporting Person. This sale was mandated by the Issuer's practice to require the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell-to-cover" transaction pursuant to a plan entered into by the Reporting Person for the purchase or sale of equity securities of the Issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and therefore does not represent a discretionary sale by the Reporting Person.

The price is a weighted average price. The shares were purchased in multiple transactions at per share prices ranging from $0.8922 to $0.8958. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Represents the number of shares of Common Stock sold under an automated program to cover the statutory tax withholding obligations in connection with the vesting of restricted stock units previously granted to the Reporting Person. This sale was mandated by the Issuer's practice to require the satisfaction of minimum statutory tax withholding obligations to be funded by a "sell-to-cover" transaction pursuant to a plan entered into by the Reporting Person for the purchase or sale of equity securities of the Issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and therefore does not represent a discretionary sale by the Reporting Person.

The first 1/3 of the option becomes exercisable on February 14, 2026, after which 1/3 of the option will become exercisable on November 16, 2026, and the remaining 1/3 of the option will become exercisable on November 16, 2027.

The Reporting Person was granted restricted stock units (RSUs), which represent a contingent right to receive one share of Common Stock for each RSU. The first 50% of the RSUs will vest on May 15, 2026, after which the remaining 50% of the RSUs will vest on May 15, 2027.

The Reporting Person was granted restricted stock units (RSUs), which represent a contingent right to receive one share of Common Stock for each RSU. The first 50% of the RSUs will vest on May 15, 2026, after which the remaining 50% of the RSUs will vest on May 15, 2027.

The first 1/3 of the option becomes exercisable on February 14, 2026, after which 1/3 of the option will become exercisable on November 16, 2026, and the remaining 1/3 of the option will become exercisable on November 16, 2027.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase. Dr. Niklason is treated as indirectly beneficially owning the shares sold, resulting in the requirement to file this Form 4. However, no shares directly beneficially owned by Dr. Niklason were sold in these transactions.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.53 to $1.69. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.53 to $1.69. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.57 to $1.76. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase. Dr. Niklason is treated as indirectly beneficially owning the shares sold, resulting in the requirement to file this Form 4. However, no shares directly beneficially owned by Dr. Niklason were sold in these transactions.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.57 to $1.76. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase. Dr. Niklason is treated as indirectly beneficially owning the shares sold, resulting in the requirement to file this Form 4. However, no shares directly beneficially owned by Dr. Niklason were sold in these transactions.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.79 to $1.92. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The sales were made by Ayabudge LLC, an entity controlled by Brady W. Dougan. The transactions enabled Mr. Dougan to pay down leverage while providing a mechanism for investors to acquire shares of the Issuer at a time that the Issuer was not conducting a financing transaction and was not making any additional shares available for purchase.

The price is a weighted average price. The shares were sold in multiple transactions at per share prices ranging from $1.79 to $1.92. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The first 25% of the option becomes exercisable on June 12, 2026, after which 1/48 of the option will become exercisable on the 12th of each month through June 12, 2029.

The price is a weighted average price. The shares were purchased in multiple transactions at per share prices ranging from $1.285 to $1.2891. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price is a weighted average price. The shares were purchased in multiple transactions at per share prices ranging from $1.255 to $1.26. The Reporting Person undertakes to provide upon request to the SEC staff, or any stockholder of the Issuer, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.

The first 25% of the option becomes exercisable on January 21, 2026, after which 1/48 of the option will become exercisable on the 21st of each month through January 21, 2029.