Item 4 — Purpose of Transaction
Item 4 of Schedule 13D is supplemented and amended, as the case may be, as follows: On May 21, 2026, Kiniksa Pharmaceuticals International, plc (the "Issuer") and the Adviser on behalf of the Funds entered into a Deed of Waiver (the "Deed") according to which the Adviser on behalf of the Funds irrevocably and unconditionally waived the Funds' right to convert the Class A1 ordinary shares of the Issuer ("Class A1 ordinary shares") and Class B1 ordinary shares of the Issuer ("Class B1 ordinary shares") held by the Funds into Class A ordinary shares of the Issuer ("Class A ordinary shares") or Class B ordinary shares of the Issuer ("Class B ordinary shares") to the extent that, immediately prior to or following the exercise of such conversion, the Funds (together with their direct or indirect affiliates, any person or entity who could be deemed to be acting as a "group" pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") together with the Funds or any of their affiliates, and any other persons or entities whose beneficial ownership of the Issuer's ordinary shares would or could be aggregated with the Funds' and/or any of their affiliates' for purposes of Section 13(d) or Section 16 of the Exchange Act) would beneficially own more than 49.9% of the outstanding voting rights in the Issuer. The Issuer agreed pursuant to the Deed not to effect the putative exercise of any conversion rights of the Funds' Class A1 ordinary shares or Class B1 ordinary shares if the purpose or effect of such conversion would be to circumvent this waiver. Additionally, the Adviser on behalf of the Funds agreed that the Funds would not transfer their Class A1 ordinary shares or Class B1 ordinary shares to an affiliate unless the transferee first entered into a deed of adherence to the Deed or a similar arrangement with restrictions substantially similar to those contained in the Deed. The foregoing description of the Deed does not purport to be complete and is qualified in its entirety by reference to the full text of the Deed, which is incorporated by reference as Exhibit 99.2 and is incorporated herein by reference. The Funds hold securities of the Issuer for investment purposes. The Reporting Persons or their affiliates may purchase additional securities or dispose of securities in varying amounts and at varying times depending upon the Reporting Persons' continuing assessments of pertinent factors, including the availability of Class A ordinary shares of the Issuer or other securities for purchase at particular price levels, the business prospects of the Issuer, other business investment opportunities, economic conditions, stock market conditions, money market conditions, the attitudes and actions of the Board of Directors (the "Board") and management of the Issuer, the availability and nature of opportunities to dispose of securities of the Issuer and other plans and requirements of the particular entities. The Reporting Persons may discuss items of mutual interest with the Issuer's management, other members of the Board and other investors, which could include items in subparagraphs (a) through (j) of Item 4 Schedule 13D. Depending upon their assessments of the above factors, the Reporting Persons or their affiliates may change their present intentions as stated above and they may assess whether to make suggestions to the management of the Issuer regarding financing, and whether to acquire additional securities of the Issuer, including Class A ordinary shares (by means of open market purchases, privately negotiated purchases, conversion of Class A1 ordinary shares and Class B1 ordinary shares, subject to the terms of the Deed, or otherwise, exercise of some or all of the Share Options to purchase Class A ordinary shares of the Issuer, or to dispose of some or all of the securities of the Issuer, including Class A ordinary shares, under their control. Except as otherwise disclosed herein, at the present time, the Reporting Persons do not have any plans or proposals with respect to any extraordinary corporate transaction involving the Issuer including, without limitation, those matters described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.