XCUR · Exicure, Inc.

The reported acquisitions under Table I above resulted from the return of shares to the reporting person pursuant to share transfer amendment agreements entered into with certain transferees that previously acquired shares from the reporting person. Pursuant to such amendment agreements, the parties agreed to reduce the number of shares transferred under the original transactions and return shares to the reporting person. Voting and dispositive power with respect to the returned shares reverted to the reporting person only upon the transfer agent recording the returned shares in the reporting person's name.

The reported acquisitions under Table I above resulted from the return of shares to the reporting person pursuant to share transfer amendment agreements entered into with certain transferees that previously acquired shares from the reporting person. Pursuant to such amendment agreements, the parties agreed to reduce the number of shares transferred under the original transactions and return shares to the reporting person. Voting and dispositive power with respect to the returned shares reverted to the reporting person only upon the transfer agent recording the returned shares in the reporting person's name.

The reported acquisitions under Table I above resulted from the return of shares to the reporting person pursuant to share transfer amendment agreements entered into with certain transferees that previously acquired shares from the reporting person. Pursuant to such amendment agreements, the parties agreed to reduce the number of shares transferred under the original transactions and return shares to the reporting person. Voting and dispositive power with respect to the returned shares reverted to the reporting person only upon the transfer agent recording the returned shares in the reporting person's name.

The reported acquisitions under Table I above resulted from the return of shares to the reporting person pursuant to share transfer amendment agreements entered into with certain transferees that previously acquired shares from the reporting person. Pursuant to such amendment agreements, the parties agreed to reduce the number of shares transferred under the original transactions and return shares to the reporting person. Voting and dispositive power with respect to the returned shares reverted to the reporting person only upon the transfer agent recording the returned shares in the reporting person's name.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Sangsangin Co., Ltd., a corporation formed under the laws of the Republic of Korea, as the majority shareholder of the Reporting Person, may be deemed to beneficially own the shares reported by the Reporting Person hereunder. Mr. Jun Won Yoo, as the chief executive officer of Sangsangin Co., Ltd., may be deemed to beneficially own the shares beneficially owned by Sangsangin Co., Ltd.

The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Person is, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities of the Issuer it does not directly own.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

On August 27, 2024, Exicure, Inc. (the "Issuer") effected a one-for-five reverse stock split (the "Reverse Stock Split") as approved at the special meeting of the stockholders of the Issuer on August 15, 2024. As a result, every five shares of Common Stock, par value $0.0001 per share (the "Common Stock"), of the Issuer issued and outstanding were automatically exchanged into one new share of Common Stock, and restricted stock units were adjusted to reflect the Reverse Stock Split. Accordingly, the figures reflect the Reverse Stock Split.

Reporting Person acquired shares in exchange for $711,699 of debt owned by the Company to the Reporting Person .

Shares adjusted due to 1-for-5 reverse stock split. Also includes shares previously reported as sold based on a contract for sale, but the sale has not closed. Reporting Person provided the buyer with an extension to close by October 31, 2024, but as of the date hereof it is uncertain whether buyer will purchase the shares and Reporting Person has the right to terminate the contract.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Pursuant to the Stock Purchase Agreement, the Reporting Person agreed to sell 3,400,000 shares, but only 340,000 shares were initially delivered to the buyer in exchange for 10% of the total consideration, with the remaining 90% of the sale to close by or on June 30, 2024.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

On February 22, 2023, Reporting Person obtained loan from an affiliate ("Lender") in the form of an exchangeable bond in the principal amount of $5,440,000, which represented an obligation to sell. On June 23, 2023, Lender exercised the option to exchange the bond for 3,400,000 shares of Common Stock (at fixed conversion price of $1.60 per share).

On February 22, 2023, Reporting Person obtained loan from an affiliate ("Lender") in the form of an exchangeable bond in the principal amount of $5,440,000, which represented an obligation to sell. On June 23, 2023, Lender exercised the option to exchange the bond for 3,400,000 shares of Common Stock (at fixed conversion price of $1.60 per share).

Represents the number of shares of Common Stock withheld by Exicure, Inc. to cover the reporting person's tax withholding obligation upon the vesting of restricted stock units.

Reporting Person obtained loan from an affiliate in the form of an exchangeable bond in the principal amount of $5,440,000. Lender will have the option to exchange the note for 3,400,000 shares of Common Stock (at fixed conversion price of $1.60 per share) from three months after issuance to five business days before the maturity date. The Reporting Person intends to repay the note prior to lender exercising the exchange option.

The shares subject to the option vest in 36 substantially equal monthly installments from the vesting commencement date of January 4, 2023, subject to the Reporting Person's continued service through the applicable vesting date.

On December 15, 2022, the stockholders of Exicure, Inc. approved the purchase by the Reporting Person of 3,400,000 shares of common stock at a price per share of $1.60 pursuant to the Securities Purchase Agreement, dated September 26, 2022. The purchase is expected to close promptly, but no later than January 20, 2023, subject to satisfaction or waiver of remaining conditions. Notwithstanding that the purchase has not closed yet, the Reporting Person may be deemed to beneficially own these shares due to satisfaction of the stockholder approval condition.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 13, 2022, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 13, 2022, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 13, 2022, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 13, 2022, provided the Reporting Person remains in continuous service on each vesting date.

The shares are held by Abingworth Bioventures VII LP ("Abingworth VII"). Abingworth Bioventures VII GP LP serves as the general partner of Abingworth VII. Abingworth General Partner VII LLP, (together with Abingworth Bioventures VII GP LP, the "General Partners"), serves as the general partner of Abingworth Bioventures VII GP LP. Abingworth VII (acting by its general partner Abingworth Bioventures VII GP LP, acting by its general partner Abingworth General Partner VII LLP) has delegated to Abingworth LLP all investment and dispositive power over the securities held by Abingworth VII. The Reporting Person, a Director of the Issuer, is a member of an investment committee of Abingworth VII which approves investment and voting decisions by majority vote and no individual member has the sole control or voting power over the securities held by Abingworth VII.

Each of Abingworth VII, Abingworth LLP, the General Partners, the Reporting Person and each member of the investment committee disclaims beneficial ownership of the common stock held by Abingworth VII, except to the extent of their pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

One-fourth (1/4th) of the shares will vest on May 16, 2023 and the remainder of the shares will vest in a series of thirty-six (36) successive equal monthly installments thereafter, subject to the Reporting Person's continued service through the applicable vesting dates.

One-fourth (1/4th) of the shares will vest on May 16, 2023 and the remainder of the shares will vest in a series of thirty-six (36) successive equal monthly installments thereafter, subject to the Reporting Person's continued service through the applicable vesting dates.

One-fourth (1/4th) of the shares will vest on May 16, 2023 and the remainder of the shares will vest in a series of thirty-six (36) successive equal monthly installments thereafter, subject to the Reporting Person's continued service through the applicable vesting dates.

This transaction was executed in multiple trades at prices ranging from $0.2300 to $0.2492. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

These shares were acquired under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

These shares were acquired under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.375 to $1.38 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 will vest as to 1/12 of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12th of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12 of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

The shares subject to the option will vest as to 1/12 of the underlying shares monthly from the vesting commencement date of June 2, 2021, provided the Reporting Person remains in continuous service on each vesting date.

These shares were acquired under the XCUR Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

These shares were acquired under the XCUR Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

These shares were acquired under the XCUR Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).