Item 1.01 Entry into a Material Definitive Agreement.

On September 3, 2021, Eargo, Inc. (the "Company") entered into a Standard Form Office Lease (the "Lease") with GZI First North 1, LLC (the "Landlord") for office and laboratory space (the "Leased Premises") located at 2665 North First Street, San Jose, California 95134 (the "Property"). The Leased Premises will serve as the Company's headquarters upon the commencement of the Lease.

The initial term of the Lease commences on January 1, 2022 (the "Commencement Date"). The initial term of the Lease will extend approximately 7.5 years from the Commencement Date, unless earlier terminated in accordance with the Lease. The Company will have the right to extend the term of the Lease for two additional 5-year terms.

Under the Lease, the Company will lease approximately 30,000 square feet at the Property. The Company's base rent of $1,235,000 per year will increase approximately 3% annually over the course of the Lease. In addition, the Company will pay its pro rata share of increases in operating expenses and property taxes over a 2022 base year. The Company's obligation for such increases will be determined annually.

The foregoing description of the terms of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ending September 30, 2021.

The representations, warranties and covenants contained in the Lease were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to the Lease, and may be subject to limitations agreed upon by the contracting parties. Accordingly, the Lease is incorporated herein by reference only to provide investors with information regarding the terms of the Lease, and not to provide investors with any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company's periodic reports and other filings with the Securities and Exchange Commission.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

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