DENALI THERAPEUTICS INC

Ticker: DNLI CUSIP: 24823R105 Class: Common Stock

MASTERS CAPITAL MANAGEMENT LLC's Holding History (CIK: 0001104186)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 1,000,000 Value ($000) $16,510 Avg Close $16.88 Range $13.75 - $20.61

Q3 2025

Shares 750,000 Value ($000) $10,890 Avg Close $14.37 Range $12.58 - $16.20

Q2 2025

Shares 600,000 Value ($000) $8,394 Avg Close $14.07 Range $10.57 - $16.97

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,000,000	$16,510	$16.88	$13.75 - $20.61
Q3 2025	750,000	$10,890	$14.37	$12.58 - $16.20
Q2 2025	600,000	$8,394	$14.07	$10.57 - $16.97