Dutch Bros Inc. — Director's Dealing 2025

Aug 26, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dutch Bros Inc. (BROS)
CIK: 0001866581
Period of Report: 2025-08-25

Reporting Person: Boersma Travis (Director, Executive Chairman of Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-08-25	Class A Common Stock	S	2517	$65.9614	Disposed	2031447	Indirect
2025-08-25	Class A Common Stock	S	56022	$67.8915	Disposed	1975425	Indirect
2025-08-25	Class A Common Stock	S	174916	$68.3948	Disposed	1800509	Indirect
2025-08-25	Class A Common Stock	S	250113	$69.5922	Disposed	1550396	Indirect
2025-08-25	Class A Common Stock	S	1583	$65.961	Disposed	1277561	Indirect
2025-08-25	Class A Common Stock	S	35232	$67.8915	Disposed	1242329	Indirect
2025-08-25	Class A Common Stock	S	110004	$68.3948	Disposed	1132325	Indirect
2025-08-25	Class A Common Stock	S	157294	$69.5922	Disposed	975031	Indirect

Footnotes

F1: As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Trust Aggregator, LLC on November 22, 2024.

F2: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $65.7400 to $66.7100 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, 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 above.

F3: The Reporting Person is the manager of DM Trust Aggregator, LLC and DM Individual Aggregator, LLC (the "DM Trusts"). Multiple members hold ownership interests in the DM Trusts, including the Reporting Person. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any, and the inclusion of the reported securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.

F4: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $67.0500 to $68.0400 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, 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 above.

F5: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $68.0500 to $69.0200 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, 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 above.

F6: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $69.0500 to $69.9200 inclusive. The reporting person undertakes to provide the
Issuer, any security holder of the Issuer, 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 above.

F7: As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on November 22, 2024.