KROS · Keros Therapeutics, Inc. · Insider Trading

The transactions were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.16 to $10.49 inclusive. 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 Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.14 to $10.50 inclusive. 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 Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.14 to $10.50 inclusive. 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 Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.14 to $10.50 inclusive. 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 an aggregate of 500 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.02 to $10.39 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.46 to $10.80 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

The shares subject to the option shall vest over a three-year period in equal quarterly installments with the first such vesting to occur on October 1, 2026, subject to the Reporting Person's continuous service through each such vesting date.

Represents a restricted stock unit ("RSU") award. The RSUs shall vest over a three-year period in twelve equal quarterly installments with the first such vesting to occur on August 15, 2026, subject to the Reporting Person's continuous service through each such vesting date.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $9.99 to $10.34 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

The transactions were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2026.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.83 to $10.16 inclusive. 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 transactions were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 9, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.60 to $10.89 inclusive. 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 transactions were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.61 to $10.89 inclusive. 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 transactions were pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.61 to $10.89 inclusive. 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.

Represents a restricted stock unit ("RSU") award. The RSUs fully vest on the earlier of (A) June 3, 2027 and (B) the date of the Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

Represents a restricted stock unit ("RSU") award. The RSUs fully vest on the earlier of (A) June 3, 2027 and (B) the date of the Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

The option shall vest in equal quarterly installments over the 12 months following June 3, 2026, provided that the grant will in any case be fully vested on the date of Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

The option shall vest in equal quarterly installments over the 12 months following June 3, 2026, provided that the grant will in any case be fully vested on the date of Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

The option shall vest in equal quarterly installments over the 12 months following June 3, 2026, provided that the grant will in any case be fully vested on the date of Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

The option shall vest in equal quarterly installments over the 12 months following June 3, 2026, provided that the grant will in any case be fully vested on the date of Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

Represents a restricted stock unit ("RSU") award. The RSUs fully vest on the earlier of (A) June 3, 2027 and (B) the date of the Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

The option shall vest in equal quarterly installments over the 12 months following June 3, 2026, provided that the grant will in any case be fully vested on the date of Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

Represents a restricted stock unit ("RSU") award. The RSUs fully vest on the earlier of (A) June 3, 2027 and (B) the date of the Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

Represents a restricted stock unit ("RSU") award. The RSUs fully vest on the earlier of (A) June 3, 2027 and (B) the date of the Issuer's 2027 annual meeting of stockholders, subject to the Reporting Person continuing to provide service through each such date.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.44 to $10.69 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.56 to $11.80 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

Immediately exercisable.

Shares were purchased pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 5, 2025.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.98 to $11.48 inclusive. 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 purchased at each separate price within the range set forth in this footnote.

Represents a restricted stock unit ("RSU") award. The RSUs shall vest over a three-year period in twelve equal quarterly installments with the first such vesting to occur on May 15, 2026, subject to the Reporting Person's continuous service through each such vesting date.

The shares subject to the option shall vest over a three-year period in equal quarterly installments with the first such vesting to occur on June 9, 2026, subject to the Reporting Person's continuous service through each such vesting date.

One-fourth (1/4th) of the shares subject to the option shall vest on February 24, 2027, and the remaining shares subject to the option shall vest in twelve substantially equal quarterly installments thereafter, subject to the Reporting Person continuing to provide service through each such date.

One-fourth (1/4th) of the shares subject to the option shall vest on February 24, 2027, and the remaining shares subject to the option shall vest in twelve substantially equal quarterly installments thereafter, subject to the Reporting Person continuing to provide service through each such date.

The shares subject to the option shall vest in one-fourth (1/4th) increments upon the closing price of the Issuer's common stock equaling or exceeding 125%, 150%, 175% and 200%, respectively, of the exercise price for 30 calendar days between February 24, 2026 and February 24, 2031, subject to the Reporting Person's continuous service through each vesting date.

One-fourth (1/4th) of the shares subject to the option shall vest on February 24, 2027, and the remaining shares subject to the option shall vest in twelve substantially equal quarterly installments thereafter, subject to the Reporting Person continuing to provide service through each such date.

One-fourth (1/4th) of the shares subject to the option shall vest on February 24, 2027, and the remaining shares subject to the option shall vest in twelve substantially equal quarterly installments thereafter, subject to the Reporting Person continuing to provide service through each such date.

The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.05 to $16.65 inclusive. 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 Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.05 to $16.65 inclusive. 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 an aggregate of 500 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan.

The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.05 to $16.65 inclusive. 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.

On February 23, 2024, the Reporting Person filed a Form 4 with the SEC reporting the grant of an option to purchase 125,000 shares of common stock, the vesting of which was subject to the achievement of specified performance criteria. On January 7, 2026, the Compensation Committee of the Issuer's Board of Directors certified that (i) certain performance condition with respect to the option to purchase 62,500 shares had been met, resulting in the immediate vesting of 31,250 shares and the vesting of 31,250 shares on December 31, 2026, subject to the continuous service of the Reporting Person through such date, and (ii) certain performance condition with respect to the option to purchase 62,500 shares had not been met, resulting in the forfeiture of such option for no consideration.

Represents shares tendered and accepted for purchase by the Issuer in a cash tender offer commenced by the Issuer on October 20, 2025. The Issuer announced the final results of the tender offer on November 20, 2025.

The securities are held by Partners Innovation Fund II, L.P. ("PIF II"). Partners Innovation Fund II, LLC ("Partners GP II") is the ultimate general partner of PIF II. The Reporting Person, a member of the board of directors of the Issuer, is a partner of Partners GP II and as a result, may be deemed to share voting and investment power with respect to the shares held by PIF II.

Disposed of in connection with the Issuer's completion of a cash tender offer.

These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis and OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by Genesis.

This report on Form 4 is jointly filed by OrbiMed Advisors, OrbiMed GP, and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated a representative, Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Disposed of in connection with the Issuer's completion of a cash tender offer.

These securities are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("OrbiMed GP") is the general partner of OPI VII and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of OrbiMed GP. By virtue of such relationships, OrbiMed GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by OPI VII.

This report on Form 4 is jointly filed by OrbiMed Advisors, OrbiMed GP, and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated a representative, Carl L. Gordon, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Disposed of in connection with the Issuer's completion of a cash tender offer.

These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis and OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by Genesis and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by Genesis.

Each of the Reporting Person, OrbiMed Advisors, OrbiMed GP, and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his or its pecuniary interest therein, if any. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

Represents shares tendered and accepted for purchase by the Issuer in a cash tender offer commenced by the Issuer on October 20, 2025. The Issuer announced the final results of the tender offer on November 20, 2025.

The securities are held by Partners Innovation Fund, LLC ("PIF I"). Partners Innovation Fund, LLC ("Partners GP I") is the ultimate general partner of PIF I. The Reporting Person, a member of the board of directors of the Issuer, is a partner of Partners GP I and as a result, may be deemed to share voting and investment power with respect to the shares held by PIF I.

Disposed of in connection with the Issuer's completion of a cash tender offer.

These securities are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("OrbiMed GP") is the general partner of OPI VII and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of OrbiMed GP. By virtue of such relationships, OrbiMed GP and OrbiMed Advisors may be deemed to have voting power and investment power over the securities held by OPI VII and as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of the Reporting Person, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by OPI VII.

Each of the Reporting Person, OrbiMed Advisors, OrbiMed GP, and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his or its pecuniary interest therein, if any. This report shall not be deemed an admission that any such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.

The securities to which this filing relates are held directly by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the investment manager of ADAR1 Partners, LP and ADAR1 SPV I, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the general partner of ADAR1 Partners, LP and ADAR1 SPV I, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and ADAR1 SPV I, LP. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Daniel Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP.

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

The securities to which this filing relates are held directly by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the investment manager of ADAR1 Partners, LP and ADAR1 SPV I, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the general partner of ADAR1 Partners, LP and ADAR1 SPV I, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and ADAR1 SPV I, LP. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Daniel Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP.

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

The securities are held by Pontifax (Israel) IV, L.P. ("Israel IV"). Pontifax Management 4 G.P. (2015) Ltd. ("Management 4") is the ultimate general partner of Israel IV. As a result, Management 4 may be deemed to share voting and dispositive power with respect to the shares held by Israel IV. Each of Tomer Kariv and Ran Nussbaum is a Managing Partner of Management 4 and, as a result, Messrs. Kariv and Nussbaum may be deemed to share voting and investment power with respect to the shares held by Israel IV. Management 4 and Messrs. Kariv and Nussbaum disclaim beneficial ownership of such shares, except to the extent of his or its pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.

The securities to which this filing relates are held directly by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the investment manager of ADAR1 Partners, LP and ADAR1 SPV I, LP and as the sub-advisor of Spearhead Insurance Solutions IDF, LLC, ADAR1 Capital Management, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, ADAR1 SPV I, LP and Spearhead Insurance Solutions IDF, LLC. As the general partner of ADAR1 Partners, LP and ADAR1 SPV I, LP, ADAR1 Capital Management GP, LLC may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP and ADAR1 SPV I, LP. As the manager of ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC, Daniel Schneeberger may be deemed to indirectly beneficially own securities held by ADAR1 Partners, LP, Spearhead Insurance Solutions IDF, LLC, and ADAR1 SPV I, LP.

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.