Amendments to Bylaws (Form 8-K)

Series O Certificate of Designation

As previously disclosed, on February 18, 2026, Jaguar Health, Inc. (the "Company") announced that its board of directors (the "Board") declared a special one-timedividend of one-tenthof one share of Series O Preferred Stock (as defined below) for each share of voting common stock, par value $0.0001 per share, of the Company (the "Common Stock") outstanding, plus each share issuable upon exercise of certain warrants to purchase, in the aggregate, 2,400,765 shares of our Common Stock with dividend rights (the "Eligible Warrants") outstanding, at the close of business on March 2, 2026 (the "Record Date") (the "Preferred Stock Dividend"). The Preferred Stock Dividend is expected to be paid as of the close of business on March 4, 2026.

In connection with the Preferred Stock Dividend, on March 2, 2026 the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series O Convertible Preferred Stock (the "Certificate of Designation") with the Secretary of State of the State of Delaware, to designate 1,557,000 shares of the Company's preferred stock, par value $0.0001 per share, as Series O Convertible Preferred Stock (the "Series O Preferred Stock").

Issuance in Fraction

The Series O Preferred Stock may be issued in whole shares or in any fraction of a share that is one one-tenth(1/10th) of a share or any integral multiple of such fraction, which fractions shall entitle the Holder (as defined below), in proportion to such Holder's fractional shares, to receive shares of Common Stock issuable upon conversion of the shares of Series O Preferred Stock in accordance with the terms of the Certificate of Designation (the "Conversion Shares") upon a Conversion (as defined below), participate in distributions upon a Liquidation Event (as defined below) and have the benefit of any other rights of Holders as described herein.

Restrictions on Transfer

No shares of Series O Preferred Stock may be transferred, assigned or pledged by any Holder at any time without the prior written consent of the Company.

Dividends

Holders of shares of Series O Preferred Stock (the "Holders") will not be entitled to receive any dividends on shares of Series O Preferred Stock.

Voting Rights

Except as otherwise provided in the Certificate of Designation or as otherwise required by law, the Series O Preferred Stock shall have no voting rights. For any matter in which the Holders are entitled to vote, such Holders shall be entitled to one vote per one-tenthof one share of Series O Preferred Stock.

Liquidation Rights

In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or Deemed Liquidation Event (as defined below) (each, a "Liquidation Event"), each share of Series O Preferred Stock shall be entitled to be paid, out of the assets of the Company available for distribution to its stockholders, before any distribution or payment out of the assets of the Company may be made to or set aside for the holders of Common Stock and subject to the rights of the Company's depositors and other creditors, an amount per share of Series O Preferred Stock equal to $0.0001 (as applicable, the "Liquidation Amount"). If upon any such liquidation, dissolution or winding up of the Company (other than a Chapter 7 bankruptcy) or Deemed Liquidation Event, the assets of the Company available for distribution to its stockholders shall be insufficient to pay the Liquidation Amount, the Holders shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. Following the payment of the Liquidation Amount, if there are any remaining assets of the Company available for distribution to its stockholders, the Series O Preferred Stock shall not

participate in such distributions. Notwithstanding the foregoing, if in the event of a dissolution or winding up of the Company in connection with a Chapter 7 bankruptcy, the assets of the Company available for distribution to its stockholders shall be insufficient to pay the Liquidation Amount, the Holders, with respect to their shares of Series O Preferred Stock, shall be entitled to receive out of such assets the same amount that each share of the Common Stock would receive as if each outstanding share of Series O Preferred Stock were, immediately prior to the applicable record date, fully converted (disregarding solely for such purposes any conversion or exchange limitations hereunder) to shares of Common Stock at the conversion ratio for each whole share of Preferred Stock (the "Conversion Ratio"), which is equal to $8.01 (the "Stated Value") divided by the applicable Conversion Price.

For each share of Series O Preferred Stock, the "Conversion Price" shall be, unless otherwise provided in this Certificate of Designation, equal to the Minimum Price as of the applicable Conversion Date (as defined below). "Minimum Price" means, with respect to a given date, the lower of: (i) the Closing Price (as defined in the Certificate of Designation) of the Common Stock immediately preceding such date or (ii) the average Closing Price of the Common Stock for the five (5) Trading Days (as defined in the Certificate of Designation) immediately preceding such date.

Each of the following events shall be considered a "Deemed Liquidation Event": (A) a merger or consolidation in which the Company is a constituent party and in which the stockholders of the Company immediately prior to such merger or consolidation do not continue to hold a majority of the voting power of the Company or any successor entity following such merger or consolidation; or (B) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Company.

Conversion Rights

At any time prior to December 31, 2026, the Company may, in its sole discretion, elect to convert all (and not part) of the then outstanding shares of Series O Preferred Stock to Conversion Shares at the Conversion Ratio (the "Optional Conversion"); provided, however, that in no event may Conversion Shares be issued to any Holder that would cause such Holder, together with its affiliates, to beneficially own shares of Common Stock in excess of the Maximum Percentage (as defined below) immediately after giving effect to the issuance of the Conversion Shares. The Company shall effect the Optional Conversion by providing Holders with the Company Conversion Notice (as defined in the Certificate of Designation), which shall specify, inter alia, the date on which such conversion is to be effected (the "Optional Conversion Date"). On the Optional Conversion Date, each outstanding share of Series O Preferred Stock will automatically convert (subject to the Maximum Percentage limitation) into such whole number of fully paid and non-assessableshares of Common Stock as is determined by the Conversion Ratio.

If no Optional Conversion occurs pursuant to the terms of the Certificate of Designation, then on December 31, 2026 (the "Automatic Conversion Date" and together with an Optional Conversion Date, the "Conversion Date"), each outstanding share of Series O Preferred Stock will automatically convert (subject to the Maximum Percentage limitation) into such whole number of fully paid and non-assessableshares of Common Stock as is determined by the Conversion Ratio (the "Automatic Conversion" and together with the Optional Conversion, the "Conversion").

For any issuance of Conversion Shares that would cause a breach of the Maximum Percentage limitation, the Company may issue, in lieu of such number of Conversion Shares in excess of the Maximum Percentage, one or more pre-fundedwarrants (each, a "Pre-FundedWarrant") exercisable into, in aggregate, such number of Conversion Shares in excess of the Maximum Percentage to the Holder; provided, however, that the terms of such Pre-FundedWarrants shall provide that they may not be exercised to such extent as to cause the Holder, together with its affiliates, to beneficially own shares of Common Stock in excess of the Maximum Percentage immediately after giving effect to such exercise. Each Pre-FundedWarrant is exercisable in part or in full immediately at an exercise price of $0.001 per share, and may be exercised at any time until such Pre-FundedWarrant is exercised in full, subject to the Maximum Percentage limitation described above.

No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Series O Preferred Stock. As to any fraction of a Conversion Share which a Holder would otherwise be entitled to receive upon such conversion, the Company shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the closing price of a share of Common Stock as of the Trading Day immediately prior to the applicable Conversion Date.

Maximum Percentage

In no event may shares of Common Stock be issued to any Holder that would cause such Holder's beneficial ownership to exceed the Maximum Percentage, which is 19.99% of the number of shares of Common Stock outstanding on a given date (including for such purpose the shares of Common Stock issuable upon such issuance).

Trading Market

There is no established trading market for any of the Series O Preferred Stock, and we do not expect a market to develop. We do not intend to apply for a listing for any of the Series O Preferred Stock on any securities exchange or other nationally recognized trading system. The Series O Preferred Stock will not trade with the Common Stock. The CUSIP number for the Series O Preferred Stock will be 47010C 870.

The foregoing descriptions of the Certificate of Designation and the Pre-FundedWarrants do not purport to be complete and are qualified in their respective entirety by reference to the full text of the Certificate of Designation, a copy of which is filed as Exhibit 3.1 to this Current Report, and the full text of the form of Pre-FundedWarrant, a copy of which was filed as Exhibit 4.1 to the Company's Current Report on Form 8-Kfiled with the Securities and Exchange Commission (the "SEC") on February 18, 2026 (File No. 001-36714),and are incorporated by reference herein.