X0407 4 2023-05-08 0001624322 Business First Bancshares, Inc. BFST 0001736530 WHITE STEVEN GERARD 500 LAUREL STREET, SUITE 101 BATON ROUGE LA 70801 1 0 COMMON STOCK 2023-05-08 4 A 0 1584 15.78 A 11265 D COMMON STOCK 2023-05-09 4 P 0 1500 14.44 A 12765 D COMMON STOCK 29749 I By William A. Robinson Trust Reflects the grant of restricted stock to reporting person. The restricted stock fully vests May 8, 2024. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.44 to $14.51, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or Commission staff, upon request, full information regarding the number of shares sold at each separate price within this range. Includes (a) 1,182 shares of restricted stock granted on June 23, 2022, which vest on the earlier of June 22, 2023 or the day immediately prior to the next annual meeting of shareholders following the grant, and (b) 1,584 shares restricted stock granted on May 8, 2023, which vest on May 8, 2024. Represents the holdings of William A. Robinson Private Foundation, of which the reporting person is the trustee. The reporting person disclaims beneficial ownership of registrant common stock held by William A. Robinson Private Foundation except to the extent of his pecuniary interest. /s/ Heather Roemer, as attorney-in-fact for Steven Gerard White 2023-05-09