X0306 4 2022-06-23 0001624322 Business First Bancshares, Inc. BFST 0001811398 Buquet James J. III 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 COMMON STOCK 2022-06-23 4 A 0 1182 21.15 A 59762 D COMMON STOCK 6110 I By Buquet III Children's 1998 Trust COMMON STOCK 64085 I By The Buquet Family 2012 Trust COMMON STOCK 3925 I By James Buquet IV Trust No. 2 COMMON STOCK 11389 I By Mary Mercer Buquet Trust No. 2 Reflects the grant of restricted stock to reporting person. The restricted stock fully vests on the earlier of (a) June 22, 2023, or (b) the day immediately prior to the next annual meeting of shareholders following the grant. /s/ Heather Roemer, as attorney-in-fact for James J. Buquet, III 2022-06-27