Common Stock, par value $0.0001 per share

ARS Pharmaceuticals, Inc.

(1) Deerfield Mgmt III Number of shares: 4,862,254 (comprised of shares held by Deerfield Private Design Fund III) Percentage of shares: 4.95% (2) Deerfield Private Design Fund III Number of shares: 4,862,254 Percentage of shares: 4.95% (3) Deerfield Mgmt IV Number of shares: 4,862,254 (comprised of shares held by Deerfield Private Design Fund IV) Percentage of shares: 4.95% (4) Deerfield Private Design Fund IV Number of shares: 4,862,254 Percentage of shares: 4.95% (5) Deerfield Management Number of shares: 9,724,508 (comprised of shares held by Deerfield Private Design Fund III and Deerfield Private Design Fund IV) Percentage of shares: 9.90% (6) Flynn Number of shares: 9,724,508 (comprised of shares held by Deerfield Private Design Fund III and Deerfield Private Design Fund IV) Percentage of shares: 9.90%

(1) Deerfield Mgmt III Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 4,862,254 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 4,862,254 (2) Deerfield Private Design Fund III Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 4,862,254 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 4,862,254 (3) Deerfield Mgmt IV Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 4,862,254 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 4,862,254 (4) Deerfield Private Design Fund IV Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 4,862,254 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 4,862,254 (3) Deerfield Management Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 9,724,508 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 9,724,508 (6) Flynn Sole power to vote or direct the vote: 0 Shared power to vote or direct the vote: 9,724,508 Sole power to dispose or to direct the disposition: 0 Shared power to dispose or direct the disposition: 9,724,508 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 98,213,561 shares of Common Stock outstanding as of May 12, 2025, as reported by the Company in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025.

Transactions in the common stock effected by the Reporting Persons in the last sixty (60) days are set forth below. All such transactions were effected in open market transactions on the Nasdaq Global Market in the ordinary course of the applicable Reporting Person's business. Reporting Person - Deerfield Private Design Fund III, L.P. Date - 6/27/2025 Number of Shares Sold - 395,075 Price per Share ($)* - $18.45 Price Range ($)** - $18.20 - $18.89 Reporting Person - Deerfield Private Design Fund IV, L.P. Date - 6/27/2025 Number of Shares Sold - 395,074 Price per Share ($)* - $18.45 Price Range ($)** - $18.20 - $18.89 * Price per share reported is a weighted average price. The Reporting Persons undertake to provide to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth above. ** The shares were sold in multiple transactions at prices within the price range indicated (unless otherwise indicated).