NUWE · Nuwellis, Inc.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

The options will vest in 12 equal consecutive monthly increments, so all will be vested on the one-year anniversary of the date of grant.

On June 9, 2025, the Issuer entered into a Securities Exchange Agreement with the Reporting Person, pursuant to which the Issuer agreed to issue 100 shares of its newly designated Series F-1 Convertible Preferred Stock ("F-1 Stock") in exchange for 100 shares of its outstanding Series F Convertible Preferred Stock ("F Stock"). Each share of F-1 Stock and F Stock has a stated value of $1,000.

The preferred stock has no expiration date.

The Reporting Person's shares of Series F-1 Convertible Preferred Stock are convertible into shares of common stock, par value $0.0001 per share, subject to a 19.99% beneficial ownership limitation.

The preferred stock has no expiration date.

On June 9, 2025, the Issuer entered into a Securities Exchange Agreement with the Reporting Person, pursuant to which the Issuer agreed to issue 100 shares of its newly designated Series F-1 Convertible Preferred Stock ("F-1 Stock") in exchange for 100 shares of its outstanding Series F Convertible Preferred Stock ("F Stock"). Each share of F-1 Stock and F Stock has a stated value of $1,000.

The preferred stock has no expiration date.

The Reporting Person's shares of Series F-1 Convertible Preferred Stock are convertible into shares of common stock, par value $0.0001 per share, subject to a 19.99% beneficial ownership limitation.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date that he was appointed to the Board of Directors (06/01/2023), so that all of the options will be vested on the one-year anniversary of the date that he was appointed to the Board of Directors.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date that she was appointed to the Board of Directors (11/01/2023), so that all of the options will be vested on the one-year anniversary of the date that she was appointed to the Board of Directors.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date that he was appointed to the Board of Directors (11/01/2023), so that all of the options will be vested on the one-year anniversary of the date that he was appointed to the Board of Directors.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

The price represents the weighted average price of the multiple transactions reported on this line. The shares were purchased at prices ranging from $4.71 to $4.87 per share. Upon request by the SEC staff, the issuer or any securityholder of the issuer, the reporting person will provide full information regarding the number of shares purchased at each separate price.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on October 19, 2023; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on October 19, 2026.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

This amendment is being filed to correct the title of the option, which is a non-qualified stock option rather than an incentive stock option as originally reported.

The options will vest as follows: 25% of the options will vest on the one-year anniversary of the date of grant; the remaining options will vest in 36 equal consecutive monthly increments thereafter, so all will be vested on the four-year anniversary of the date of grant.

Vests in 12 approximately equal consecutive monthly increments, commencing on the one-month anniversary of the date of grant, so that all of the options will be vested on the one-year anniversary of the date of grant.