Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 129

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 129
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      |     |             |  15,958 |   |

84

Notes:

| (1) | On August 8, 2025, we granted awards under our Share Incentive Plan for an aggregate of 1,361,279 RSUs and                                                                                                                                           
 5,011,898 Restricted Shares. As of September 15, 2025, 806,260 RSUs remained unvested and outstanding. In addition, 15,967 RSUs had vested but the underlying Class A Common Shares were not issued, as they were withheld by the Company to satisfy 
 certain tax withholding obligations. As of September 15, 2025, 4,749,803 Class A Common Shares remained unvested Restricted Shares.                                                                                                                  |

The number of our Class A Common Shares and Class B Common Shares to be outstanding following the effectiveness of this registration statement is based upon 37,869,671 outstanding Class A Common Shares and 50,508,000 outstanding Class B Common Shares as of September 15, 2025, and does not include:

| • |     | 806,260 unvested and outstanding RSUs as of September 15, 2025, covering Class A Common Shares that are issuable 
 upon satisfaction of a service-based vesting condition, as granted under the Share Incentive Plan;               |

| • |     | 255,000 Class A Common Shares from the assumed full conversion, upon the direct listing, of rights issued in                                                                                                                                              
 connection with the SAFE agreements entered into in 2025, in the amount of financing of US$2.55 million immediately following the listing, assuming the conversion price at US$10.00 per share, which is equal to the price at which we sold an aggregate 
 of 1,560,970 shares of our Class A Common Shares to investors in a private placement from April 2025 to August 2025.                                                                                                                                      |

85

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations in conjunction with the section entitled “Summary of Consolidated Financial Data and Operating Data”, our historical consolidated financial statements and the related notes included elsewhere in this prospectus. This discussion contains forward-looking statements and involves numerous risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section of this prospectus. Actual results could differ materially from those contained in