Dutch Bros Inc. — Director's Dealing 2025

May 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dutch Bros Inc. (BROS)
CIK: 0001866581
Period of Report: 2025-05-13

Reporting Person: Penegor Todd Allan (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-13	Class A Common Stock	M	1579	—	Acquired	1579	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-13	Restricted Stock Units	$	A	1779	Acquired		Class A Common Stock (1779)	Direct
2025-05-13	Restricted Stock Units	$	A	1579	Acquired		Class A Common Stock (1579)	Direct
2025-05-13	Restricted Stock Units	$	M	1579	Disposed		Class A Common Stock (1579)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.

F2: The reporting person received an award of restricted stock units, 25% of which will vest on each of August 20, 2025, November 20, 2025, February 20, 2026, and the remaining 25% will vest on the earlier of (i) May 20, 2026, and (ii) the date of the Issuer's 2026 annual stockholder meeting.

F3: The reporting person received an award of restricted stock units, 100% of which vested on May 13, 2025.