Secretory calcium-dependent phospholipase A2 that primarily targets extracellular phospholipids (PubMed:11922621, PubMed:10531313). Hydrolyzes the ester bond of the fatty acyl group attached at sn-2 position of phospholipids (phospholipase A2 activity), releasing various unsaturated fatty acids including oleoate, linoleoate, arachidonate, docosahexaenoate and lysophosphatidylethanolamines in preference to lysophosphatidylcholines (By similarity). In response to high-fat diet, hydrolyzes minor lipoprotein phospholipids including phosphatidylserines, phosphatidylinositols and phosphatidylglycerols, altering lipoprotein composition and fat storage in adipose tissue and liver (PubMed:24910243). May act in an autocrine and paracrine manner (By similarity). Contributes to lipid remodeling of cellular membranes and generation of lipid mediators involved in pathogen clearance. Cleaves sn-2 fatty acyl chains of phosphatidylglycerols and phosphatidylethanolamines, which are major components of membrane phospholipids in bacteria (By similarity). Acts as a hair follicle phospholipase A2. Selectively releases lysophosphatidylethanolamines (LPE) and various unsaturated fatty acids in skin to regulate hair follicle homeostasis (PubMed:27226633). May regulate the inflammatory response by releasing arachidonate, a precursor of prostaglandins and leukotrienes. Upon allergen exposure, may participate in allergic inflammatory response by enhancing leukotriene C4 synthesis and degranulation in mast cells (PubMed:11922621). a 1,2-diacyl-sn-glycero-3-phosphoethanolamine + H2O = a 1-acyl-sn-glycero-3-phosphoethanolamine + a fatty acid + H(+) 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phosphoethanolamine + H2O = (9Z)-octadecenoate + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine + H(+) 1-hexadecanoyl-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphoethanolamine + H2O = (9Z,12Z)-octadecadienoate + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine + H(+) 1-hexadecanoyl-2-(5Z,8Z,11Z,14Z-eicosatetraenoyl)-sn-glycero-3-phosphoethanolamine + H2O = (5Z,8Z,11Z,14Z)-eicosatetraenoate + 1-hexadecanoyl-sn-glycero-3-phosphoethanolamine + H(+) 1,2-dihexadecanoyl-sn-glycero-3-phospho-(1'-sn-glycerol) + H2O = 1-hexadecanoyl-sn-glycero-3-phospho-(1'-sn-glycerol) + H(+) + hexadecanoate 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phospho-glycerol + H2O = (9Z)-octadecenoate + 1-hexadecanoyl-sn-glycero-3-phospho-glycerol + H(+) a 1,2-diacyl-sn-glycero-3-phosphocholine + H2O = a 1-acyl-sn-glycero-3-phosphocholine + a fatty acid + H(+) 1,2-dihexadecanoyl-sn-glycero-3-phosphocholine + H2O = 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) + hexadecanoate 1-hexadecanoyl-2-(9Z-octadecenoyl)-sn-glycero-3-phosphocholine + H2O = (9Z)-octadecenoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) 1-hexadecanoyl-2-(9Z,12Z-octadecadienoyl)-sn-glycero-3-phosphocholine + H2O = (9Z,12Z)-octadecadienoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) 1-hexadecanoyl-2-(4Z,7Z,10Z,13Z,16Z,19Z-docosahexaenoyl)-sn-glycero-3-phosphocholine + H2O = (4Z,7Z,10Z,13Z,16Z,19Z)-docosahexaenoate + 1-hexadecanoyl-sn-glycero-3-phosphocholine + H(+) Binds 2 Ca(2+) ions per subunit. Through binding to heparan sulfate proteoglycan, may be localized to cytoplasmic compartments enriched in anionic phospholipids. Highly expressed in skin and uterus, and at lower levels in various other tissues (PubMed:27226633, PubMed:10531313, PubMed:10681567, PubMed:11922621). Expressed in hair follicles, specifically localized in companion cells of the outer root sheath and cuticular cells of the inner root sheath in hair follicles during anagen (PubMed:27226633). Expressed in white and brown adipose tisue (PubMed:24910243). Expressed abundantly in hair follicles during the anagen phase. Low expression is observed before birth, then follows hair cycle progression: up-regulated markedly during P5-P15 (anagen phase), declining to nearly the basal level during P20-P25 (catagen and telogen) and then increasing again at P30 (next anagen). Up-regulated in thymus, small intestine, brain, heart, testis, kidney and lung upon endotoxin challenge (PubMed:10681567, PubMed:11922621). Detected in alveolar macrophage-like cells upon endotoxin challenge (PubMed:10681567). Up-regulated in white and brown adipocytes upon high-fat diet (PubMed:24910243). Up-regulated in ear epidermis in response to topical dermatitis agent 2,4-dinitrobenzene (DNFB) (PubMed:11922621). Mutant mice show abnormal hair follicle ultrastructure characterized by defects in the companion layer, the inner root sheath (IRS) and hair shaft. Mutant IRS cells have large cytoplasmic cysts and pyknotic nuclei and are devoid of keratohyalin granules, whereas the cuticle is abnormally dissociated from the hair cortex and medulla, indicative of impaired hair follicle development (PubMed:27226633). Mutant mice are protected from obesity and hyperlipidemia in response to high-fat diet (PubMed:24910243). Belongs to the phospholipase A2 family.