Common Stock, par value $0.0001 per share

ARS Pharmaceuticals, Inc.

(1) Deerfield Mgmt III Number of shares: 5,257,329 (comprised of shares held by Deerfield Private Design Fund III) Percentage of shares: 5.36% (2) Deerfield Private Design Fund III Number of shares: 5,257,329 Percentage of shares: 5.36% (3) Deerfield Mgmt IV Number of shares: 5,257,328 (comprised of shares held by Deerfield Private Design Fund IV) Percentage of shares: 5.36% (4) Deerfield Private Design Fund IV Number of shares: 5,257,328 Percentage of shares: 5.36% (5) Deerfield Management Number of shares: 10,514,657 (comprised of shares held by Deerfield Private Design Fund III and Deerfield Private Design Fund IV) Percentage of shares: 10.72% (6) Flynn Number of shares: 10,514,657 (comprised of shares held by Deerfield Private Design Fund III and Deerfield Private Design Fund IV) Percentage of shares: 10.72%

(1) Deerfield Mgmt III Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 5,257,329 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 5,257,329 (2) Deerfield Private Design Fund III Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 5,257,329 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 5,257,329 (3) Deerfield Mgmt IV Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 5,257,328 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 5,257,328 (4) Deerfield Private Design Fund IV Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 5,257,328 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 5,257,328 (5) Deerfield Management Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 10,514,657 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 10,514,657 (6) Flynn Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 10,514,657 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 10,514,657 Flynn is the managing member of the general partner of each of Deerfield Mgmt IV, Deerfield Mgmt III and Deerfield Management. Deerfield Mgmt III is the general partner of Deerfield Private Design Fund III and Deerfield Mgmt IV is the general partner of Deerfield Private Design Fund IV. Deerfield Management is the investment manager of the Deerfield Funds. *Percentage beneficial ownership reported herein reflects 98,119,804 shares of Common Stock outstanding as of March 17, 2025, as reported by the Company in its Annual Report on Form 10-K for the year ended December 31, 2024.