CRA International Inc. (CRAI): Osmium Partners Lowers Its Stake

Page 9 of 11 – SEC Filing

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(ii)

Fund II directly owns 103,366 shares of Common Stock representing 1.2% of all of the outstanding shares of Common Stock of the Issuer.

(iii)

Fund III directly owns 66,700 shares of Common Stock representing 0.8% of all of the outstanding shares of Common Stock of the Issuer.

(iv)

Fund IV directly owns 101,002 shares of Common Stock representing 1.1% of all of the outstanding shares of Common Stock of the Issuer.

(v)

Osmium Partners, as the general partner of each of the Funds, may be deemed to beneficially own the 433,629 shares of Common Stock held by them, representing 4.9% of all of the outstanding shares of Common Stock of the Issuer.

(vi)

Mr. Lewis individually does not own any shares of Common Stock or Options. However, Mr. Lewis may be deemed to be the beneficial owner of the shares of Common Stock and Options beneficially owned by Osmium Partners.

(vii)

Collectively, the Reporting Persons beneficially own 433,629 shares of Common Stock, representing 4.9% of all of the outstanding shares of Common Stock.

Each Reporting Person disclaims beneficial ownership with respect to any shares of Common Stock other than the shares owned directly and of record by such
Reporting Person.

The percentages set forth in this response are based on the 8,927,972 shares of Common Stock outstanding as of February 26, 2016, as
reported by the Issuer in its Annual Report on Form 10-K for the fiscal year ended January 2, 2016 as filed with the SEC on March 4, 2016.

(b) Osmium
Partners and Mr. Lewis may be deemed to share with Fund I, Fund II, Fund III and Fund IV (and not with any third party) the power to vote or direct the vote of and to dispose or direct the disposition of the 162,561 shares of Common Stock, 103,366
shares of Common Stock, 66,700 shares of Common Stock and 101,002 shares of Common Stock reported herein, respectively.

(c) The following Reporting
Persons engaged in the following open-market transactions with respect to the Issuers Common Stock during the last 60 days:

Osmium Capital,
LP

Transaction Date		Number of Shares				Price per Share				Type of Transaction
2/19/2016			22				0			Option Expiration
2/19/2016			10				0			Option Expiration
3/11/2016			3000				19.9			Sale
3/16/2016			4000				20.04			Sale
3/16/2016			1500				20.04			Sale
3/18/2016			500				20.629			Sale
3/18/2016			4500				20.629			Sale
3/22/2016			2500				20.7172			Sale
3/23/2016			1500				20.264			Sale
3/23/2016			2000				20.264			Sale
3/23/2016			4000				20.264			Sale
3/24/2016			2000				19.6726			Sale
3/30/2016			700				19.9044			Sale
3/30/2016			2396				19.9044			Sale
3/30/2016			3000				19.9044			Sale
3/30/2016			254				19.9044			Sale
3/30/2016			3900				19.9044			Sale
3/30/2016			12750				19.9044			Sale
4/13/2016			1600				19.9575			Sale
4/18/2016			8854				19.8423			Sale
4/18/2016			7000				19.8423			Sale
4/18/2016			1000				19.8423			Sale