SPRY · ARS Pharmaceuticals, Inc. · Financials

“Term A Commitment” means, as to each Term A Lender, its obligation to make a Term A Loan to the Borrower pursuant to Section 2.01(a), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Commitments of all of the Term A Lenders as in effect on the Closing Date is ONE HUNDRED MILLION DOLLARS ($100,000,000).

Issuer evidence: ARS PHARMACEUTICALS OPERATIONS, INC., a Delaware corporation (the “Borrower”)

Supporting evidence: “Term A Commitment” means, as to each Term A Lender, its obligation to make a Term A Loan to the Borrower pursuant to Section 2.01(a), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Commitments of all of the Term A Lenders as in effect on the Closing Date is ONE HUNDRED MILLION DOLLARS ($100,000,000).

“Term B Commitment” means, as to each Lender, its obligation to make a Term B Loan to the Borrower pursuant to Section 2.01(b), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term B Commitments of all of the Lenders as in effect on the Closing Date is TWENTY-FIVE MILLION DOLLARS ($25,000,000).

Issuer evidence: ARS PHARMACEUTICALS OPERATIONS, INC., a Delaware corporation (the “Borrower”)

Supporting evidence: “Term B Commitment” means, as to each Lender, its obligation to make a Term B Loan to the Borrower pursuant to Section 2.01(b), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term B Commitments of all of the Lenders as in effect on the Closing Date is TWENTY-FIVE MILLION DOLLARS ($25,000,000).

“Term C Commitment” means, as to each Lender, its obligation to make a Term C Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term C Commitments of all of the Lenders as in effect on the Closing Date is TWENTY-FIVE MILLION DOLLARS ($25,000,000).

Issuer evidence: ARS PHARMACEUTICALS OPERATIONS, INC., a Delaware corporation (the “Borrower”)

Supporting evidence: “Term C Commitment” means, as to each Lender, its obligation to make a Term C Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term C Commitments of all of the Lenders as in effect on the Closing Date is TWENTY-FIVE MILLION DOLLARS ($25,000,000).

“Term D Optional Tranche” means, as to each Lender, its election (subject to its sole discretion) that it will make a Term D Loan to the Borrower pursuant to Section 2.01(d), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term D Optional Tranches of all of the Lenders as in effect on the Closing Date is ONE-HUNDRED MILLION DOLLARS ($100,000,000).

Issuer evidence: ARS PHARMACEUTICALS OPERATIONS, INC., a Delaware corporation (the “Borrower”)

Supporting evidence: “Term D Optional Tranche” means, as to each Lender, its election (subject to its sole discretion) that it will make a Term D Loan to the Borrower pursuant to Section 2.01(d), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term D Optional Tranches of all of the Lenders as in effect on the Closing Date is ONE-HUNDRED MILLION DOLLARS ($100,000,000).