Item 2.02 Results of Operations and Financial Condition.

Kezar Life Sciences, Inc. (the "Company") preliminarily estimates that its cash, cash equivalents and marketable securities as of December 31, 2022 were approximately $276.6 million and that it had 68.5 million shares of common stock outstanding as of December 31, 2022. These preliminary estimates are not a comprehensive statement of the Company's financial results for the year ended December 31, 2022 and have not been audited, reviewed, or compiled by its independent registered public accounting firm. The Company's actual consolidated cash, cash equivalents and marketable securities balance and shares of common stock outstanding as of December 31, 2022 may differ from these estimates due to the completion of the Company's year-end closing and auditing procedures.

The information provided in this Item 2.02 of this Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

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