ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~"؈ ~~<#܈ ~~4#܈ ~~<"܈ ~~4"܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33&\ Securities Exchange Act of 1934&LName of Persons Filing Proxy St+Summary Compensation9Nominees for Directors&FCurrent Directors Not Standing QBoard Committees=`DIRECTOR COMPENSATION!k2017 Director Compensation&[yPrincipal Accountant Fees and SEXECUTIVE OFFICERSڐSummary Compensation (1)`Summary Compensation (2) iOutstanding Equity Awards[Beneficial Ownership&Householding of Annual Meeting & $Important Notice Regarding the l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } $} $ } a/      !Akebia Therapeutics, Inc.DEF 14A 04/30/2018'Securities Exchange Act of 1934 ? # Preliminary Proxy Statement   ? / 'Confidential, for Use of the Commission  / 'Only (as permitted by Rule 14a-6(e)(2))   ?"Definitive Proxy Statement ?'Definitive Additional Materials ?-%Soliciting Material under ?240.14a-12$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4Z{ocW3D,y/#=PF0*8X> @ l  B)*  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934Summary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } $} $ } U} $ } : B     !Akebia Therapeutics, Inc.DEF 14A 04/30/2018PH(Name of Person(s) Filing Proxy Statement, if other than the Registrant)   ?  No fee required.   ? 0 (Fee computed on table below per Exchange  ' Act Rules 14a-6(i)(1) and 0-11.~ 2*Title of each class of securities to whichtransaction applies:~ /'Aggregate number of securities to whichtransaction applies:~ 0(Per unit price or other underlying value4,of transaction computed pursuant to Exchange4,Act Rule 0-11 (set forth the amount on which2*the filing fee is calculated and state howit was determined):~ 80Proposed maximum aggregate value of transaction:D lRF:.@q!D|FU !"#$%&'()*+,-./0123456789:;<=>?     !!!!!""~ """Total fee paid:#####$$$$$%% &?&7&/Fee paid previously with preliminary materials.'' (?(2(*Check box if any part of the fee is offset))3)+as provided by Exchange Act Rule 0-11(a)(2)**8*0and identify the filing for which the offsetting++6+.fee was paid previously. Identify the previous,,0,(filing by registration statement number,--3-+or the Form or Schedule and the date of its...filing.///00~ 000Amount Previously Paid:111112222233~ 3303(Form, Schedule or Registration Statement4444 4No.:555556666677~ 777 Filing Party:8888899999::~ ::: Date Filed:;;;;;<<<<<=>$?____________________________D l;W?M`5Db&c@A1@)Created by Morningstar Document Research.0A(http://documentresearch.morningstar.com/=PF0*8X> @rAA@@??..--,,++**))((&&    l  $;8p9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } U5} $ } } $ $     !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Summary Compensation   Page  GENERAL INFORMATION  ~   OVERVIEW OF PROPOSALS  ~  , $PROPOSAL NO. 1?ELECTION OF DIRECTORS  ~   DIRECTOR BIOGRAPHIES  ~ " CORPORATE GOVERNANCE~ .DIRECTOR COMPENSATION~ F0(PROPOSAL NO. 2?RATIFICATION OF SELECTION~ N3+OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMAUDIT COMMITTEE REPORT~ VEXECUTIVE OFFICERS~ ZEXECUTIVE COMPENSATION~ b-%COMPENSATION COMMITTEE INTERLOCKS AND~ zINSIDER PARTICIPATION0(SECURITY OWNERSHIP OF CERTAIN BENEFICIAL~ ~OWNERS AND MANAGEMENT/'CERTAIN RELATIONSHIPS AND RELATED PARTY~  TRANSACTIONS4,SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING~  COMPLIANCEGENERAL MATTERS~ D lznb&NHXHPfE^H !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/ <=PF0*8X> @"##""!!  l  0F  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary Compensation!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } } $ } 1} $ }  } $ } $} $                         !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Nominees for Directors   Name ' Positions and Offices Held with  Director   Age   ! Akebia Therapeutics, Inc.  Since Michael D. Clayman, M.D.  Director (Class I)  ~ z   ~   Duane Nash, M.D.  Director (Class I)  ~ v   ~   Ronald C. Renaud, Jr.  Director (Class I)  ~ z   ~  John P. Butler1)Director (Class III), President and Chief~ v~   Executive OfficerMuneer A. Satter)!Director (Class III), Chairperson~ r~   Michael S. WyzgaDirector (Class III)~ z~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2xl`B60xlD=PF0*8X> @2      l  %Q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for DirectorsBoard CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } } $ } } $ }  } $ } } $ } $} $                     !Akebia Therapeutics, Inc.DEF 14A 04/30/2018IACurrent Directors Not Standing for Election at the Annual Meeting     Name  Positions and Offices  Director   Class and Year  Age    Held with Akebia  Since    in Which Term   Therapeutics, Inc.       Will Expire Scott A. Canute  Director  ~     Class II?2019  ~   Maxine Gowen, Ph.D.  Director  ~ z    Class II?2019  ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hYMA5aL@4 =PF0*8X> @2     l  _  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing DIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } I"} $ } U} $ } U}  $ } U} $                           !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Board Committees     Name   Nominating    Compensation   Audit     and Corporate    Governance John P. Butler (1)             Scott A. Canute   M    M     $Michael D. Clayman, M.D. (1) CH    Maxine Gowen, Ph.D. M    M Duane Nash, M.D. (1) M    M !Ronald C. Renaud, Jr. (1) CH    Muneer A. Satter (1)    Michael S. Wyzga (1)    CH $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6Z ~rf3&y\C7+=PF0*8X> @B       l  j  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board Committees2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } 7} $      !Akebia Therapeutics, Inc.DEF 14A 04/30/2018DIRECTOR COMPENSATION   Annual    Retainer Board of Directors:    " All non-employee directors ~ " + #Additional retainer for Chairperson ~  Audit Committee:Members~ 2u Chairperson~ bCompensation Committee:Members~ ] Chairperson~ 6.Nominating and Corporate Governance Committee:Members~ > Chairperson~ }$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<qyma%t(NHh\P(=PF0*8X> @j      l  x  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } I"} $ }  } $ }  }  $ }  } $                         !Akebia Therapeutics, Inc.DEF 14A 04/30/2018"2017 Director Compensation     Name  Fees earned in   Option   Total($)     cash($)(1)    Awards($)(2) Scott A. Canute (3)  ~ "   ~    ~ :p  $ Michael D. Clayman, M.D. (4)  ~    ~    ~ P   Maxine Gowen, Ph.D. (4)  ~    ~    ~   Duane Nash, M.D. (5)~ ~   ~    !Ronald C. Renaud, Jr. (4)~ b~   ~  z  Muneer A. Satter (5)~ ~   ~  Z  Michael S. Wyzga (6)~ B ~   ~  Z  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 th\(W-w=PF0*8X> @B       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director CompensationEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } a} $                        !Akebia Therapeutics, Inc.DEF 14A 04/30/2018.&Principal Accountant Fees and Services  Fee Category ~   ~    Audit Fees ~ a*  ~ :o#  Audit-Related Fees ~   ~   Tax Fees ~ b   ~   All Other Fees ~ .  ~ .  Total Fees~ 3~ P%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0th\PT t=PF0*8X> @z           l  =  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } } $ } $} $ } U5      !Akebia Therapeutics, Inc.DEF 14A 04/30/2018EXECUTIVE OFFICERS Name  Age   Position John P. Butler  ~   . &President, Chief Executive Officer and       Director Jason A. Amello  ~   . &Senior Vice President, Chief Financial       Officer and TreasurerNicole R. Hadas~ .&Senior Vice President, General Counseland Corporate SecretaryRita Jain, M.D.~ 4,Senior Vice President, Chief Medical Officer Michel Dahan~ -%Senior Vice President, Chief BusinessOfficer Karen Tubridy~ 0(Senior Vice President, Chief DevelopmentOfficer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8! |pd/HTXvxP=PF0*8X> @"  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } 1} $} $ } 6      !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Summary Compensation ?5-John P. Butler, President and Chief Executive    Officer;  $ ____________________________1 )Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/" znb=PF0*8X> @ l  N  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } U5} $ }  } $ }  }  $ } y} $ } y} U} $ }  } $ }  } $ } y} $      !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Summary Compensation     # Name and Principal Position  Year   Salary   Stock   Option    Nonequity    All Other    Total ($)       ~    Awards   Awards   Incentive Plan    Compensation          ~   ~     Compensation  ~                   ~  John P. Butler  ~    ~  !   ~ JI   ~ S   ~ F   ~ B   ~ " -%Chief Executive Officer and President~ ~ "   ~  ::  ~ 8~ L~ B~ :x  Rita Jain, M.D. (4)~ ~ b  ~    ~ \s~ ~ f~ B~ ҈4,Senior Vice President, Chief Medical Officer  Michel Dahan (6)~ ~ f;  ~  Jr  ~ ~ ~ B~ M-%Senior Vice President, Chief BusinessOfficer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6znbGXA[=PF0*8X> @               l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Beneficial Ownership!Householding of Annual Meeting !Important Notice Regarding the U } U5} $ }  } $ }  } U} $ } } $ }  } $ }  } U} $ } y} $ +     !Akebia Therapeutics, Inc.DEF 14A 04/30/2018!Outstanding Equity Awards         Option Awards    Stock Awards # Name and Principal Position   Number of    Number of   Option   Option    Number of   Market Value of     Securities    Securities   Exercise    Expiration    Restricted   Restricted Stock    Underlying    Underlying    Price ($)   Date    Stock Units   Units That Have    Unexercised    Unexercised            That Have Not    Not VestedOptionsOptions     Vested~  (#) (#)      (#) Exercisable UnexercisableJohn P. Butler~ ~    Gz?   9/16/2023 ? ?-%President and Chief Executive Officer~  ~~ &[~    6@   5/14/2024~ VK~ n~    L&@  3/6/2025 ? ?~ ~ ʊ~    @   2/22/2026 ? ?~ ~ ˜ ~    HzG$@   2/21/2027 ? ?      ? ? ? ?    ?   ?~ ~ ~ &q     ~ ul ? ?    ?   ?~ 2K~   Rita Jain, M.D.~ ~ 5 ~    *@   5/31/2027 ? ?4,Senior Vice President, Chief Medical Officer   Michel Dahan~ *[~  ~    6@   5/14/2024 ? ?-%Senior Vice President, Chief Business~ FB   L&@  3/6/2025Dilui]1wdGAl Wa+S !"#$%&'()* Officer  ~ ΃   ~ ~~    RQ#@     9/30/2025    ?    ? !!!~ !!!!~ !f~ !! ! ! @! ! !! 2/22/2026!!! !?!!! !?!"""~ """"~ "~ "" " " HzG$@" " "" 2/21/2027""" "?""" "?"#######~ #~ ## # # # # ##### #?### #?#$$$ $?$$$ $?$$ $  $ ?$ $ $ $?$$$~ $R@~ $$$~ $$%%%%%%%%%% % % % % %%%%%%%%%~ %#%&&& &?&&& &?&& &  & ?& & & &?&&&~ &2i~ &'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/ s0b=PF0*8X> @"$**))((                      l  ,[  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity Awards!Householding of Annual Meeting !Important Notice Regarding the U } a/} $ } y} $ }  } $ ,                                 !Akebia Therapeutics, Inc.DEF 14A 04/30/2018Beneficial Ownership, $Name and address of beneficial owner   Number of    Percentage    shares    of shares    beneficially    beneficially   owned   owned# 5% or greater stockholders:        BlackRock, Inc. (1)~ _{Gz@ %55 East 52 nd Street New York, New York 10055&Vifor (International) Ltd. (2)~ Q@ %"Flughofstrasse 61, CH-8152Glattbrugg, SwitzerlandMuneer A. Satter (3)~ :o{Gz@ %'c/o Satter Management Co., L.P.*"676 N. Michigan Avenue, Suite 4000Chicago, Illinois 60611/'Directors and named executive officers:John P. Butler (4)~ V7q= ףp? %Scott A. Canute (5)~  *$Michael D. Clayman, M.D. (6)~  *Michel Dahan (7)~ N *DlznbkbSO+kWF" ! " # $ % & ' ( ) * +  Maxine Gowen, Ph.D. (8)  ~ >    * !Rita Jain, M.D. (9)!!~ !B !!! !*!"Duane Nash, M.D. (10)""~ "^a""" "*""#Ronald C. Renaud, Jr. (11)##~ #### #*#$Muneer A. Satter (3)$$~ $:o$$$${Gz@ $%%Michael S. Wyzga (12)%%~ %v%%% %*%/&'All executive officers and directors as&&~ &Rj#&&&&zGa @ &%!'a group (13 persons) (13)($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/pztbB=PF0*8X> @Z ++**))         l  ?b "  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Important Notice Regarding the U } $ } $} $ } y } $ } } $ } <} $ } } $ } } $ } } $ } I } $$ ?%%%%%%%%%% % % % % %%%%%%%%%%%%%%%%%%%!Akebia Therapeutics, Inc.DEF 14A 04/30/20180(Householding of Annual Meeting Materials      !"#$                      ! " # $             For All   Withhold All  For All Except   8 0To withhold authority to vote for any individual                      3 +nominee(s), mark ?For All Except? and write      2 *The Board of Directors recommends you vote  ?  ?  ?   3 +the number(s) of the nominee(s) on the line       ! " #      " FOR each director nominee:            below.~ 3+Election of Class I and Class III Directors    !"#      !"#Nominees!"#~ :2Michael D. Clayman 02 Duane Nash 03 Ronald:2C. Renaud, Jr. 04 John P. Butler 05 Muneer A. Satter~ Michael S. Wyzga!"#$#2*The Board of Directors recommends you vote ForAgainst Abstain#$#FOR the following proposal: ? ?  ?#$~  0(Ratification of the appointment of Ernst0(& Young LLP as the company?s independent-%registered public accounting firm for1)the fiscal year ending December 31, 2018. !"#$DelrfZNfJF-} y;6O% %!%"%#%$%%%&%'%(%)%*%+%,%-%.%/%0%1%2%3%4%5%6%7%8%9%:%;%<%=%>%      2 *NOTE: The shares represented by this proxy!!!!!!/!'when properly executed will be voted in""""""5"-the manner directed herein by the undersigned######0#(stockholder(s). If no direction is made,$$$$$$1$)this proxy will be voted FOR the election%%%%%%2%*of each director nominee in proposal 1 and&&&&&&5&-FOR proposal 2. If any other matters properly''''''2'*come before the meeting or any adjournment((((((.(&or postponement thereof, the person(s)))))))9)1named in this proxy will vote in their discretion******2**in accordance with applicable law or rule.++++++++++ + + + + +++++++++++++++++++ +!+"+#+$,,,,,,,------5--Please sign exactly as your name(s) appear(s)-------------- -!-"-#-$......3.+hereon. When signing as attorney, executor,//////1/)administrator, or other fiduciary, please00000040,give full title as such. Joint owners should111111.1&each sign personally. All holders must222222.2&sign. If a corporation or partnership,33333343,please sign in full corporate or partnership444444#4name by authorized officer.55555556666666666666 6!6"6#6$7777777777 7 7 7 7 77777777777777777 7!7"7#7$8888888888 8 8 8 8 888888888888888 8!8"8#8$999999*9"Signature [PLEASE SIGN WITHIN BOX]9  9 Date9 9 9 99999999 9Signature (Joint Owners)9 9Date999999 9!9"9#9$:::::::: : : : : :::::::::::;$<____________________________1=)Created by Morningstar Document Research.0>(http://documentresearch.morningstar.com/BpX *.4:w{e=PF0*8X> @j->>$==$<<$99994433221100//..--**))((''&&%%$$##""!!  " "             l  039  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Securities Exchange Act of 1934!Name of Persons Filing Proxy StSummary CompensationNominees for Directors!Current Directors Not Standing Board CommitteesDIRECTOR COMPENSATION2017 Director Compensation!Principal Accountant Fees and SEXECUTIVE OFFICERSSummary Compensation (1)Summary Compensation (2)Outstanding Equity AwardsBeneficial Ownership!Householding of Annual Meeting U } $ 0                                 !Akebia Therapeutics, Inc.DEF 14A 04/30/2018jbImportant Notice Regarding the Availability of Proxy Materials for the Annual Meeting: The Notice,                   ! AKEBIA THERAPEUTICS, INC.        & Annual Meeting of Stockholders      " June 14, 2018 10:00 AM EDT      / 'This proxy is solicited by the Board of Directors  ,$The stockholder(s) hereby appoint(s)6.Nicole R. Hadas and Jason A. Amello, or either0(of them, as proxies, each with the power4,to appoint his or her substitute, and hereby1)authorizes them to represent and to vote,1)as designated on the reverse side of this1)ballot, all of the shares of common stock.&of AKEBIA THERAPEUTICS, INC., that the.&stockholder(s) is/are entitled to vote0(at the Annual Meeting of Stockholders to4,be held at 10:00 AM EDT on June 14, 2018, at1)the offices of Akebia Therapeutics, Inc.,0(245 First Street, 14th Floor, Cambridge,5-MA 02142, and any adjournment or postponementthereof.D l8,  ,{?uDzR! ! " # $ % & ' ( ) * + , - . /      !!!!0!(THIS PROXY, WHEN PROPERLY EXECUTED, WILL""""3"+BE VOTED AS DIRECTED BY THE STOCKHOLDER(S).####2#*IF NO SUCH DIRECTIONS ARE MADE, THIS PROXY$$$$6$.WILL BE VOTED FOR THE ELECTION OF THE NOMINEES%%%%7%/TO THE BOARD OF DIRECTORS LISTED ON THE REVERSE&&&& &SIDE AND FOR PROPOSAL 2.'''''((((())))2)*Continued and to be signed on reverse side*****+,$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$,`)j.PD8=PF0*8X> @// .. -- )) &&%%$$##""!!     Root Entry FBook  8;  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~