KRT · Karat Packaging Inc.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.2805 to $26.4609, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.2805 to $26.4609, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.2805 to $26.4609, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

The RSUs convert into common stock on a one-for-one basis.

On March 11, 2026, the reporting person was granted 32,000 RSUs. These RSUs vest in two equal, annual installments beginning on March 10, 2027.

The RSUs convert into common stock on a one-for-one basis.

On March 11, 2026, the reporting person was granted 28,000 RSUs. These RSUs vest in two equal, annual installments beginning on March 10, 2027.

The RSUs convert into common stock on a one-for-one basis.

On March 11, 2026, the reporting person was granted 24,000 RSUs. These RSUs vest in two equal, annual installments beginning on March 10, 2027.

The option vests in three, equal annual installments, which began on February 1, 2023.

Pursuant to a Registration Statement on Form S-3 that became effective on March 28, 2025 and an underwriting agreement dated June 10, 2025, Mr. Cheng sold 750,000 shares of common stock of the Issuer in an underwritten secondary public offering. The shares were sold at a public offering price of $27.00 per share, and Mr. Cheng paid an underwriting discount and commission of $1.4175 per share, resulting in a net price of $25.5825 per share. Mr. Cheng also granted the underwriters a 30-day option to purchase 112,500 additional shares of common stock at the same price and at the same underwriting discount and commission. On June 27, 2025, Mr. Cheng sold such shares pursuant to an exercise in full by the underwriters of such option.

Pursuant to a Registration Statement on Form S-3 that became effective on March 28, 2025 and an underwriting agreement dated June 10, 2025, Mr. Yu sold 750,000 shares of common stock of the Issuer in an underwritten secondary public offering. The shares were sold at a public offering price of $27.00 per share, and Mr. Yu paid an underwriting discount and commission of $1.4175 per share, resulting in a net price of $25.5825 per share. Mr. Yu also granted the underwriters a 30-day option to purchase 112,500 additional shares of common stock at the same price and at the same underwriting discount and commission. On June 27, 2025, Mr. Yu sold such shares pursuant to an exercise in full by the underwriters of such option.

Pursuant to a Registration Statement on Form S-3 that became effective on March 28, 2025 and an underwriting agreement dated June 10, 2025, Mr. Cheng sold 750,000 shares of common stock of the Issuer in an underwritten secondary public offering. The shares were sold at a public offering price of $27.00 per share, and Mr. Cheng paid an underwriting discount and commission of $1.4175 per share, resulting in a net price of $25.5825 per share.

The previous filings inadvertently underreported the number of common stock owned by the reporting person by 20,045 shares. This filing properly reflects the correct number of shares as of June 13, 2025.

Pursuant to a Registration Statement on Form S-3 that became effective on March 28, 2025 and an underwriting agreement dated June 10, 2025, Mr. Yu sold 750,000 shares of common stock of the Issuer in an underwritten secondary public offering. The shares were sold at a public offering price of $27.00 per share, and Mr. Yu paid an underwriting discount and commission of $1.4175 per share, resulting in a net price of $25.5825 per share.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $29.9501 to $30.2801, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $29.9501 to $30.2801, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $29.9501 to $30.2801, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

Each RSU represents a contingent right to receive one share of Karat Packaging Inc.'s common stock.

On May 7, 2024, the reporting person was granted 2,000 RSUs. These RSUs were scheduled to vest in two equal, annual installments beginning on May 7, 2025.

The option vests in three, equal annual installments, which began on February 1, 2023.

The option vests in three, equal annual installments, which began on February 1, 2023.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $28.96 to $29.06, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $27.36 to $27.64, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $27.38 to $27.66, inclusive. The reporting person undertakes to provide to Karat Packaging Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Represents shares of Karat Packaging Inc.'s common stock received upon the vesting of restricted stock units ("RSUs").

The RSUs convert into common stock on a one-for-one basis.

On March 12, 2024, the reporting person was granted 24,000 RSUs. These RSUs were scheduled to vest in three equal, annual installments beginning on May 12, 2024.